Investor Relations
Dedicated to relations with the financial community, in particular analysts and institutional investors, Investor Relations is the area where it is possible to consult and obtain current and past information on the Banco BPM Group.
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PRESENTATION OF THE STRATEGIC PLAN 2023-2026
PRESS RELEASES
PRESENTATION OF BANCO BPM 9M 2024 GROUP RESULTS
RATING
(update: 7 novembre 2023)
NEW INVESTMENT GRADE RATING ASSIGNED BY S&P:
- Long-Term Issuer Credit Rating at “BBB-“, with Positive Outlook
- Short-Term Issuer Credit Rating at “A-3”
- S&P’s new Investment Grade ratings join those of Fitch Ratings and DBRS Morningstar, confirming the progressive improvement in the Group’s overall risk profile, capitalisation and profitability
9M 2024 PERFORMANCE HIGHLIGHTS (1)
- Stated net income at € 1,696 million (+79.8% y/y)
- Adjusted net income(2) at € 1,245 million (25.1% y/y)
- Core Operating Income at € 4,271 million (+6.7% y/y)
- Pre-provision income(3) at € 2,275 million (+11.8% y/y)
- Profit before tax from continuing operations at € 1,925.7 million (+20.9% y/y)
- Cost/Income ratio down at 46.7% (48.4% as of 30 Sept. 2023 and 48.1% in FY 2023)
- Total net customer loans equal to € 101.4 billion (-3.9% vs. year-end 2023)
- Gross non-performing exposures down at € 3.2 billion (-15.0% vs. year-end 2023)
- Gross and Net NPE ratios down at 3.1% and 1.7% respectively (vs. 3.5% gross and 1.8% net as of 31/12/2023), well on track for the 2026 Strategic Plan target (gross NPE ratio of ~3.0% and net NPE ratio of ~1.5%)
- Direct bank funding at € 128.6 billion, up from € 126.0 billion as of 31 Dec. 2023
- Indirect funding at € 114.4 billion, increasing from € 106.2 billion as of 31 Dec. 2023
- Solid liquidity and funding position: LCR at 153%, NSFR at 125%(4), Cash & Unencumbered assets at €49.4bn
- Further improvement in capital strength(5): CET 1 ratio at historic high of 15.5% (14.2% at year-end 2023) and MDA buffer(6)up at 641 bps (508(7) bps at year-end 2023)
- Confident to exceed previous guidance of ~€0.95(8) EPS for 2024, in spite of the declining trend in interest rates
- Dividend per share (DPS)(9) matured in the first 9 months 2024 equal to €0.75
- Approval of interim dividends against 2024 earnings of €600 million (€0.40 per share), with ex-date on 18 Nov. 2024 and with payment date on 20 Nov. 2024
Notes:
1. For details, please see our press release on the Group’s 9M 2024 results
2. Please refer to Note 2 of the press release on the Group’s 9M 2024 results
3. Please refer to Note 9 of the press release on the Group’s 9M 2024 results
4. Management data
5. Please refer to Explanatory Note N.6 of the press release on the Group’s 9M 2024 results
6. Please refer to Notes 7 of the press release on the Group’s 9M 2024 results
7. Figure recalculated on a consistent basis to take into account the requirements communicated by ECB for 2024
8. EPS calculated net of non-recurring components
9. Dividend per share calculated on the basis of a payout ratio of 67% applied to the net accounting earnings for the first nine months of 2024
IR EVENTS CALENDAR
8 febbraio 2024
Approval of the draft financial statements and consolidated financial
statements for the year 2023 and proposal for the allocation of the result
27 febbraio 2024
Approval of the Annual Financial Report including the draft financial
statements of the Parent Company and the consolidated financial
statements for the year 2023
18 aprile 2024
Shareholders' Meeting
7 maggio 2024
Approval of additional periodic information as at 31 March 2024
6 agosto 2024
Approval of the half-year report as at 30 June 2024
6 novembre 2024
Approval of additional periodic information as at 30 September 2024
DOCUMENTS
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