Bper, profit of 425.1 million in the first nine months

The ordinary consolidated net profit of Bper in the first 9 months it is equal to 425.1 million euros. Consolidated accounting net profit at 1,466.4 million euros. Net profit for the third quarter of 2022 amounted to 108.6 million euros, after having spent 123.3 million euros in systemic costs.

Bper’s interest margin in the first nine months (+ 16.1% qoq) and net commissions (+ 8.8% qoq) confirm the strong revenue growth with a commission contribution of approximately 50%. The support to households and businesses continues with new disbursements of loans in the first 9 months of 2022 which reach 12.6 billion euros.

Credit quality further improved, gross and net NPE ratio down compared to the previous quarter to 4.2% and 1.7% respectively. The solid capital position was confirmed, with a fully phased pro forma cet 1 ratio of approximately 13.2%, well above the srep requirement (8.47%).

” The excellent results recorded in the first nine months of the year confirm the strong ability of the Bper Group to generate revenues. A further boost in this sense will come from the integration of Banca Carige, which is expected to be completed within the year ”. He emphasizes it Piero Luigi Montani, CEO of Bper Banca on the occasion of a conference call with analysts.

” Now we will focus on consolidating the positioning achieved by Bper at national level and on implementing the actions envisaged in the new Business Plan with the aim of improving operational efficiency and structurally increasing the profitability of the Group for the benefit of all our stakeholders , even in a difficult external context – continues Montani -. The robust capital position of Bper together with the progress achieved in credit quality allow us to face, in fact, the uncertainty relating to the evolution of the macro scenario from a solid position “.

” We have always done things with prudence, the suffering that we will sell in 2023 will be approximately over 1 billion ” underlines Montani.

” We have a bank of over 5 million customers. We have to fix the group with theacquisition of Carige, we will do a good job already in the first quarter of the new year ” continues the CEO. ” The economic prospects are still conditioned by a high degree of uncertainty which also depends on the evolution and duration of the conflict. The most recent economic indicators indicate a slowdown in euro area growth in the second half of the year, with an economy that should continue to stagnate in the first quarter of 2023 ”

” In this context, the Group’s profitability will continue to be supported by growing revenues that will continue to benefit from both the rise in interest rates and the good stability of net commissions and from actions aimed at offsetting the inflationary impact on costs. Credit quality will continue to be characterized by the maintenance of high coverage and by a prudent provisioning policy. However, the capital position is expected to remain at high levels ”, concludes Montani.