ROME (dpa-AFX) - Italian banking group Banco BPM S.p.A. (BAMI.MI) reported 9-month net income of €1.513 billion, compared with €1.665 billion in the corresponding period last year.
Net profit from continuing operations increased 3% to €1.582 billion, while adjusted net income rose 2.6% to €1.532 billion.
Total revenues grew 4.1% to €4.666 billion, supported by higher net fee and commission income, which increased 9.6% to €2.070 billion. Net interest income declined 1.3% to €2.330 billion.
Core revenues were €4.598 billion, up 3.2% from €44.55 billion last year.
Loan loss provisions decreased to€224.0 million from €254.5 million.
Banco BPM declared a dividend of €0.50 per share, payable on November 25, with an ex-dividend date of November 23.
Looking ahead, the bank expects to exceed its 2026 profit target of €1.950 billion and outperform its 2027 pre-tax profit target of €3.150 billion. It also raised its 2026 dividend guidance to more than €1 per share.
The bank increased its cumulative shareholder remuneration target for 2024-2027 to approximately €7 billion from the previous target of more than €6 billion.
In Milan, Banco BPM shares closed down 0.25% at €13.89 on Thursday.
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