A Net income growing to 323 million euros in 2025 and over 550 million dividends provided for during the plan. These are some of the objectives of the floor industrial of Banca Popolare di Sondrio, the first after the transformation of the institution from a cooperative into a joint stock company. The interest margin is expected to reach 667 million in 2025, with an average annual growth of 6%, while net commissions will increase on average by 5.5% to 443 million. The Valtellina institute aims to give a new boost to managed savings and on the bancassurance and expects net customer loans to rise to € 35.9 billion, asset management and insurance volumes to € 13.8 billion, an average annual growth of 12%, and insurance premiums an average growth of 11%.
“With the foundation in Sondrio in 1871, we were one of the first cooperative banks in the country. Our vocation is to grow”, said themanaging director, Mario Alberto Pedranzini. “To grow together with our customers, with our employees, beyond the confines of a traditional local bank. With rigor, availability towards customers, proximity to the communities of the areas served, preserving our identity but continuing to innovate”.
In terms of capital requirements, the group expects a Cet1 ratio of 15.6% at the end of 2025 and above 15% in each year of the plan, with a liquidity coverage ratio of over 140%. The target on the stock of impaired loans it is an average annual reduction of 7%, to be obtained through the strengthening of the internal operating machinery and further disposals of impaired loans for an amount of 580 million over the next four years.
The group also aims at evolution digital of the relationship with customers. The investments in It they are expected to increase to 120 million in 2025, from 86 million in 2021. Operating costs will be 619 million at the end of the plan, with a cost / income ratio down to 51.8% by 2025.