FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

For the Securitiesperiod ExchangeJune Act16, of 19342006

ForSANPAOLO theIMI periodS.p.A.(Exact Aprilname 28,of 2006registrant as specified in its charter)

SANPAOLOPiazza IMISan S.p.A.Carlo 156 10121 Turin, Italy(Address of principal executive offices)

(Exact name of registrant as specified in its charter)

Piazza San Carlo 156

10121 Turin, Italy

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ýx Form 40-F o

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o No ýx

Nasce SANPAOLO ~~IMI~~BANCA ~~GROUP~~DELL’ADRIATICO, the Group’s reference point for the Adriatic.

~~DECISIONS~~Turin, OFJune 16, 2006 ~~THE~~— ~~SHAREHOLDERS~~SANPAOLO IMI today signed the agreement for the completion of the reorganization of the Adriatic business distribution network. This envisages the incorporation of Banca Popolare dell’Adriatico ~~MEETING~~into the Parent Bank and the conferral to SANPAOLO BANCA DELL’ADRIATICO, the Group’s new commercial bank, wholly controlled by Sanpaolo Imi, with banking branches in the Marche, Abruzzo and Molise.

~~Turin~~The merger of Banca Popolare dell’Adriatico into Sanpaolo IMI, 28approved ~~April~~by ~~2006~~the Board -of Directors of the Parent Bank on May 16, will have legal effect from June 17. The ~~Shareholders’~~conferral ~~Meeting~~by ofSanpaolo Imi to SANPAOLO ~~IMI~~BANCA DELL’ADRIATICO ~~S.p.A.~~of the business, ~~meeting~~which ~~today~~will inhave ~~Piazza~~199 ~~San~~branches ~~Carlo~~(69 Sanpaolo and 130 Banca Popolare dell’Adriatico), ~~took~~will ~~the~~take ~~following~~effect ~~agenda~~from ~~decisions:~~June 18.

~~Ordinary~~SANPAOLO BANCA ~~Meeting~~DELL’ADRIATICO, with registered office in Pesaro, obtained authorization from Banca d’Italia at the beginning of June to carry on banking and investment services activities. The conferral of the business, also specifically authorized, will be equal to the accounting value. There will be an increase in capital of Euro 248,000,000 (from Euro 6,300,000 to Euro 254,300,000) through the issue of 248,000,000 ordinary shares of unit nominal value of Euro 1, with a total premium of Euro 138,000,000. KPMG has been mandated to provide the estimates, pursuant to Article 2343 of the Italian Civil Code.

~~1. approval of the~~Following ~~financial statements for 2005 and distribution of income for~~ the ~~period:~~transaction, the ~~Meeting~~new ~~approved~~bank ~~the~~will ~~company financial~~have ~~statements~~199 ~~and~~branches, ~~examined~~approximately ~~the consolidated financial statements of the Group at 31 December 2005. income for the period was €~~ 1,~~157,694,692 a shareholders’ dividend~~700 ~~of €~~employees ~~0.57 for each ordinary~~ and ~~preference~~ ~~(“privilegiata”)~~240,000 ~~share which make up the equity capital: the dividend will be ex on 22 May and paid on 25 May~~customers.

~~Group~~The reorganization ~~consolidated~~is ~~net~~in ~~income~~the atcontext of the ~~end~~“Banca ~~of 2004~~Nazionale ~~was~~dei €Territori” (National/Local) 1model,~~983~~ ~~million~~which envisages the identification of a single reference brand in each area, ~~with~~so as anto ~~increase~~strengthen ofthe ~~57.9%~~relationship onbetween ~~2004~~the ~~and~~individual abranch ~~RoE~~networks of their 17regions.~~2%.~~

The Meeting also approved the increase in the Legal Reserve ( € 38,317,524.05);

RELAZIONI ESTERNE	INVESTOR RELATIONS
Filippo Vecchio	Dean Quinn
Tel: +39 011 555 7747	Tel: +39 011 555 2593
e: infomedia@sanpaoloimi.com	e: investor.relations@sanpaoloimi.com

2. authorisation for the purchase and sale of own shares: the Meeting deliberated the renewal of the authorisation for the purchase of own ordinary shares, in line with current regulations, for 18 months and up to a maximum of further 180 million shares, at a price, net of ordinary accessory purchase charges, of not less than a minimum of 30% and not more than a maximum of 10% against the reference price recorded in the trading session preceding each transaction. The amount of the Reserve for the Purchase of own shares was also confirmed at 1,000 million euro, corresponding to the already existing Reserve. Own shares may also be used, in the context of incentive plans to employees of the Company;

3. motions for Directors’ remuneration: the Meeting approved the criteria for the determination of the flexible part of compensation of the Directors for 2006, pursuant to Article 15 of the Articles and By-Laws:SIGNATURES

• whenPursuant Groupto RoE (consolidated net income for the period/requirements consolidatedof accounting net shareholders’ funds calculated as the averageSecurities atExchange theAct end of 1934, the year)registrant ishas 14.99%duly orcaused less:this 1report perto 1,000be ofsigned theon netits income indicatedbehalf inby the consolidatedundersigned, financial statementsthereunto forduly the year;authorized.

~~• when~~SANPAOLO ~~RoE~~IMI ~~is more than 14~~S.~~99%~~p.A. By: 1/s/ ~~per~~James ~~1,000~~Ball ofName: ~~net~~James ~~income~~Ball ~~(indicated~~Title: inHead ~~the consolidated financial statements for the year) which gives a RoE~~ of ~~14.99%,~~International ~~plus 1.5 per 1~~Strategy,~~000~~ ofLondon ~~net income in excess;~~Branch

4. change of Meeting RegulationDate: the MeetingJune approved16, the proposed changes to the Meeting Regulation to bring the text in line with current legislation and articles as well as to regulate the meeting more efficiently;2006

Extraordinary Meeting.

1. unpaid increase in equity capital: the Meeting approved the unpaid increase in the equity capital of SANPAOLO IMI from € 5,249,561,340.80 to € 5,399,548,807.68 (€ 149,987,466.88), through taking an equal amount of the fixed assets Valuation Reserve – posted at € 168,418,756.02 in the Valuation Reserve in the financial statements to 31 December 2005 – with an increase in nominal value from €2.80 to € 2.88 of the 1,590,659,318 ordinary shares and 284,184,018 preference shares in circulation.

RELAZIONI ESTERNE		INVESTOR RELATIONS
Filippo Vecchio		Dean Quinn
Tel: +39 011 555 7747		Tel: +39 011 555 2593
e: infomedia@sanpaoloimi.com		e: investor.relations@sanpaoloimi.com

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	SANPAOLO IMI S.p.A.
	By:	/s/ James Ball
	Name: James Ball
	Title: Head of International Strategy, London Branch
Date: April 28, 2006

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