Investor Relations

Key data:

• Adjusted net profit up at € 497 million (1) (+30.1% yoy): best result since the formation of the Banco BPM Group
• Stated net profit up at € 384 million (+6.3% yoy)
• Core operating income (2) at € 2,097 million, +1.4% on the first half of 2021
• Profit (loss) before tax from continuing operations (3) at € 688 million, +30.8% on the first half of 2021
• Cost/income ratio (4) at 54.5%, improving on 54.9% in the first half of 2021 and 55.8% over 2021
• Core net performing loans (5) to customers equal to € 102.8 billion (+3.4% compared to the end of 2021)
• Gross npe ratio at 4.8% (6) : 2024 target of the plan already achieved
• Sound capital position: “fully-phased” CET 1 ratio at 12.8% (7)

(1) Amount net of non-recurring items as indicated in section 5 of the Explanatory Notes to the pertinent press release.

(2) Aggregate consisting of net interest income, gains (losses) on interests in associates and joint ventures carried at equity and net fee and commission income.

(3) This interim result does not include banking industry charges of -€ 74.6 million, value adjustments to goodwill, equal to € 8.1 million, the accounting effects of Purchase Price Allocations (PPA) carried out in previous years of -€ 15.7 million, or effects of the change in the Group credit risk on its certificate issues, equal to +€ 25.7 million. These components are stated, net of taxes, in separate items of the reclassified income statement.

(4) Calculated as the ratio of operating expenses to operating income resulting from the Reclassified Income Statement.

(5) Mortgages, loans, current accounts and personal loans.

(6) Ratio of gross non-performing exposures to total exposures relating to the balance sheet item “Loans to customers measured at amortised cost”.

(7) For more details on the calculation methods for capital ratios, please refer to paragraph no. 6 of the Explanatory Notes of the pertinent press release.