ROME (dpa-AFX) - Banco BPM S.p.A. (BAMI.MI, BNCZF), an Italian banking major, Thursday said that its net profit declined 12.7 percent in the first half of the year, impacted by lower net interest income. While total revenues rose 5.7 percent, the company also upgraded its fiscal 2026 net income forecast and raised the interim dividend.
The company posted net profit of 1.06 billion euros in the first half of the year, down from last year's 1.21 billion euros.
According to Banco BPM, net interest income for the first half of fiscal 2026 declined 4.1 percent to 1.54 billion euros from 1.60 billion euros in the same period of fiscal 2025. The company's net fee and commission income, however, rose 13.8 percent to 1.42 billion euros from 1.25 billion euros a year ago.
The company said that total revenues climbed 5.7 percent to 3.19 billion euros in the first six months from 3.02 billion euros in the corresponding period last year.
Looking ahead, Banco BPM said that it has upgraded its fiscal 2026 net income outlook to more than 1.95 billion euros. The company also raised its interim dividend for fiscal 2026 to 0.50 euros per share from the earlier dividend of 0.46 euros per share.
On the XETRA Exchange, BAMI.MI ended Wednesday's trading at 191.70 euros, up 3.00 euros or 1.6 percent.
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