Banco BPM SpA

F:BPM

Record profit: Banco BPM reported first-half net income of EUR 1.060 billion, calling it a record and saying Q2 was particularly strong.

Higher returns: Management raised its 2026 net income guidance to above EUR 1.95 billion and lifted the interim dividend guidance to EUR 750 million, or EUR 0.50 per share.

More capital to return: The bank increased its total shareholder remuneration target over the plan horizon from EUR 6 billion to EUR 7 billion, pending ECB approval for the extra buyback/dividend actions.

Credit quality: Asset quality improved further, with the gross NPE ratio falling below 2% for the first time ever to 1.96%, while cost of risk dropped to 31 basis points.

Mix shift: Management said the business mix is becoming less dependent on rates, with non-NII revenues now 52% of total revenues and product-factory income growing strongly.

Capital strength: CET1 ended at 14.40%, well above the bank’s 13% threshold, and management said excess capital gives room for further shareholder distributions.