Net profit at Italy's top banks rose 8% to 24 bln euros last year
18/02/2025 13:42
By Alberto Chiumento
Feb 18 (Reuters) - Six leading Italian banks reported a
7.6% annual increase in combined net profit last year, reaching
24.3 billion euros ($25.5 billion), despite falling interest
rates.
Combined revenue rose 5.8% year-on-year to 69 billion euros
with 40 billion deriving from the net interest income, a measure
of profit from the gap between lending and deposit rates.
Net fees for services and transactions totalled 23.5 billion
euros.
The six banks are Intesa Sanpaolo ISP.MI , UniCredit
CRDI.MI , Banco BPM BAMI.MI , BPER Banca EMII.MI , Banca
Monte dei Paschi di Siena BMPS.MI , and Banca Popolare di
Sondrio BPSI.MI .
WHY IT'S IMPORTANT?
Prospective pressure on revenues from declining interest
rates, coupled with large capital reserves banks accumulated
during years of record profits, is seen driving the current
consolidation wave sweeping through Italian finance.
BY THE NUMBERS
($1 = 0.9526 euros)
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Italian biggest banks' performances in 2024 https://reut.rs/4hPbstI
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(Reporting by Alberto Chiumento
Editing by Valentina Za and Keith Weir)
((mailto:Alberto.Chiumento@thomsonreuters.com;))