Banco BPM profit beats estimates on strong fee growth

Banco BPM SpA

05/05/2026 14:14

MILAN, May 5 (Reuters) - Italy's Banco BPM BAMI.MI on Tuesday posted a higher than expected first-quarter net profit, boosted by a surge in net fees that more the offset a decline in its lending income.

Banco BPM, which last year dodged a takeover attempt by rival UniCredit CRDI.MI, has worked to diversify its revenue streams away from the traditional lending business.

Italy's fourth-largest bank reported a net profit of 480 million euros ($561 million) for the three months ending March 31, compared with a Reuters-compiled analyst consensus of 451 million euros.

Fees and commissions totalled 708 million euros.

Banco BPM said it expected to exceed the 2026 pre-tax profit target set out in its strategic plan.

($1 = 0.8552 euros)

 (Reporting by Andrea Mandalà; Editing by Valentina Za)

 ((andrea.mandala@thomsonreuters.com; +390680307738;))