For Banco Bpm income above expectations (+20%), raises goal and interim coupon | EUROtoday

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(The Sun 24 Hours Radio) – Banco Bpm closed the primary half of 2024 with a internet revenue of 750 million, up 20% in comparison with the identical interval in 2023. In the second quarter alone, revenue elevated by 5.8% yearly to 380 million, in comparison with the 368 anticipated by the market. In the half-year, working earnings grew by 8.4% to 2.8 billion, with curiosity margin at 1.7 billion (+10.9%) and commissions at one billion (+4.5%). Operating bills rose by 5% to 1.3 billion, for a value/earnings ratio all the way down to 47.9%. As for the stability sheet aggregates, the Cet 1 ratio is at 15.2% from 14.2% on the finish of 2023. The outcomes permit the financial institution to lift the steering on earnings per share for 2024 to round 0.95 euros (from the earlier 0.9), equal to round 1.44 billion, a determine “already close to the 2026 plan net profit targets”, anticipated to be over 1.5 billion.

2024 interim dividend rises to 600 million (from 550)

The interim dividend for 2024 anticipated by Banco Bpm, following the advance within the steering on the institute's profitability, rises to 600 million from the earlier 550. The determine, the financial institution specifies within the press launch on the half-yearly accounts, is the same as 50% of the quantity anticipated for the complete monetary yr, equal to 1.2 billion. This prospect, Banco Bpm underlines, “lays the foundations, together with the payment of a coupon equal to approximately 850 million relating to the 2023 financial year, to exceed the overall remuneration target for shareholders equal to 4 billion cumulative in the period 2023-2026”.