Following the integration with Banco di Napoli and the Cardine banking network, Sanpaolo IMI with its 3,200 branches has a very strong and locally focused domestic franchise.

The business model ("The Bank of Territories") is inspired by the principle "one bank-one region" and is aimed at strengthening the relationship between the individual bank networks and their respective regions. This model is reflected in the choice of maintaining the historical brands of the banks that entered the Group, thus combining specialisation and respect for local needs, and ultimately improving operating efficiency and the quality of service provided to the client.

To further develop efficiency, the network has been organised into retail branches (dedicated to families), corporate branches (dedicated to small-medium enterprises) and private branches dedicated to private banking.

The Banks of the Group
	Sanpaolo offers its customers the services of around 21,000 employees and over 1,400 branches throughout Italy, with a particular concentration in the areas where the Bank has an historical presence in the communities, namely: Piedmont, Liguria and Valle d'Aosta. It also has an extremely strong presence in Lombardy, in Sicily and Rome.
	The 15,750 employees of Sanpaolo Banco di Napoli - the largest bank in Southern Italy - are available to customers in 687 branches, widespread throughout Campania, Apulia, Calabria and Basilicata.
	Cassa di Risparmio di Padova e Rovigo, which has over 3,000 employees, is a significant economic player in Veneto, with 322 branches present predominantly in the provinces of Padova, Rovigo, Treviso, Venice, Vicenza and Belluno.
	Cassa di Risparmio in Bologna has around 2,000 employees with a distribution network of 200 branches, located primarily in Emilia Romagna, particularly concentrated in Bologna and the surrounding area.
	The business network of Cassa di Risparmio di Venezia consists of 144 branches, served by around 1,400 employees, with a particularly widespread presence in Venice.
	The 141 branches of Banca Popolare dell'Adriatico - with over 1,100 employees - are spread throughout the regions of the Adriatic ridge, namely Marche, Abruzzo and Molise. At the beginning of 2006 the merger of the Bank with Sanpaolo IMI was approved and the subsequent spin-off into a new bank named Sanpaolo Banco dell'Adriatico.
	Friulcassa - Cassa di Risparmio Regionale -was created at the end of 2003 from the merger of Cassa di Risparmio di Udine e Pordenone and Cassa di Risparmio di Gorizia. Its 140 branches and more than 1,100 employees are present throughout Friuli Venezia Giulia.

Data as at 31 December 2005