Italy · Delayed Price · Currency is EUR BPER Banca SpA Earnings Call Transcripts
Fiscal Year 2026
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Adjusted 9M net profit rose over 12% to €1.9bn, with 20.8% ROTE and 15.1% CET1. Costs and asset quality remained controlled; a €694m interim dividend was approved, while overlays rose amid macro uncertainty.
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Record H1 2026 results with adjusted net profit up 15% year-on-year and strong revenue growth. Integration of BPSO completed, driving synergies and operational efficiency, while shareholder distributions are set to reach EUR 7.5 billion by 2028.
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Q1 2026 saw resilient core revenues, improved cost efficiency, and strong capital metrics post-merger. Integration with BPSO is progressing, with ambitious synergy targets and no signs of asset quality deterioration despite geopolitical risks.
Fiscal Year 2025
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Record 2025 results with net profit and revenues at all-time highs, cost-to-income ratio improved, and strong capital position maintained. Integration of BIPSO is on track, with robust growth in wealth management and commissions, and a 75% dividend payout proposed.
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9M like-for-like net profit exceeded €1.3bn, up almost 20%, driven by robust commissions and cost discipline. BPSO integration remains on track; 2026 NII is expected broadly in line with 2025, and €290m synergies are targeted for 2027.
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Record H1 2025 net profit of €903 million, strong loan and commission growth, and robust capital ratios highlight best-ever results. BPSO integration is progressing rapidly, with upgraded 2025 guidance and a focus on operational efficiency and prudent risk management.
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Q1 2025 delivered record adjusted net profit of EUR 443 million, with strong commission growth and robust capital ratios despite NII pressure from lower rates. Strategic initiatives and digitalization are on track, and the planned merger with Banca Popolare di Sondrio is progressing, with minimal expected antitrust impact.
Fiscal Year 2024
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Standalone 2024 results showed robust profit growth, strong capital, and improved asset quality, supporting a doubled dividend payout. The proposed merger with Banca Popolare di Sondrio aims to create Italy’s third-largest bank, targeting €2B+ net income and 15% ROE by 2027, with €290M in synergies.
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Revenues and adjusted net profit grew year-over-year, with strong capital and asset quality metrics. Guidance for 2024 is reaffirmed, with CET1 ratio guidance raised and a conservative outlook maintained due to expected Q4 cost increases. Loan growth and fee income are key drivers for 2025.
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The new strategic plan targets higher commission income, cost reductions, and robust capital, aiming for €1.5bn net income and a 75% payout ratio by 2027. Growth will be driven by digitalization, efficiency, and expanded offerings in retail, wealth, and corporate segments, with a strong focus on ESG and modernization.
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Revenue and profit growth continued in H1 2024, with strong capital and asset quality metrics. Cost discipline and organic growth remain priorities, while dividend payout exceeds plan targets. New business plan and updated guidance will be presented in October.