Italy · Delayed Price · Currency is EUR Banco BPM Earnings Call Transcripts
Fiscal Year 2025
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Net profit rose 20% year-over-year to €2.08 billion, with a 50/50 split between NII and commissions and CET1 at 13.76%. Asset quality, cost control, and capital generation remain strong, supporting a €1 dividend per share and a positive outlook for 2026–2027.
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Profitability surged with ROTE at 22% and net income of €1.66bn, already 85% of annual guidance. Fee-based revenues and asset quality improved, while capital and liquidity remain robust. Guidance for 2025 is confirmed despite fiscal uncertainties.
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H1 2025 net income hit a record €1.21 billion, with strong fee growth and cost control offsetting lower NII. CET1 ratio stands at 13.3%, and the group is ahead of plan on key targets, confirming €1.95 billion net profit guidance and a higher dividend.
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ROE reached 16.7% and net income rose 38% year-on-year, with Q1 2025 results already exceeding 2027 targets. Non-interest revenues now make up 49% of total, and 2025 net income guidance was raised to €1.95 billion, reflecting strong execution and early Anima consolidation.
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Strong Q1 performance and robust business plan targets are supported by growth in commissions, green lending, and the Anima integration, which is expected to add significant revenue and profit. Capital position remains solid, and further M&A or sector consolidation could unlock additional value.
Fiscal Year 2024
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Record 2024 results with €1.9bn net income and €1.5bn dividends, surpassing targets. Updated plan aims for €2.15bn net income and >24% ROTE by 2027, driven by diversification, Anima integration, and robust capital. Shareholder remuneration to reach €6–7bn.
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Nine-month results exceeded expectations with strong revenue and capital growth, leading to higher EPS guidance and increased dividends. The announced Anima acquisition aims to create a top-tier integrated insurance and asset management group, with limited capital impact and significant EPS and ROTE accretion.
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H1 2024 saw strong growth in net income, CET1, and core revenues, leading to upgraded EPS and dividend guidance. Asset quality and capital ratios improved, with robust lending and deposit growth, while Basel IV and operational risks are well-buffered.