Financial Ratios Banca Popolare di Sondrio S.p.A.

Equities

BPSO

IT0000784196

Banks

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Published financial data: BANCA POPOLARE DI SONDRIO S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Interest Income On Loans	594M	642M	835M	1.81B	2.12B
Interest Income On Investments	4.38M	5.21M	6.46M	7.65M	6.5M
Interest Income, Total	599M	647M	841M	1.82B	2.12B
Interest On Deposits	104M	113M	153M	875M	1.03B
Interest Expense, Total	104M	113M	153M	875M	1.03B
Net Interest Income	494M	534M	688M	945M	1.1B
Income From Trading Activities	12.47M	63.65M	28.4M	113M	125M
Gain (Loss) on Sale of Loans	-25.59M	32.88M	28.97M	7.64M	10.68M
Gain (Loss) on Sale of Invest. & Securities - (Rev)	21.16M	41.88M	-55.93M	4.86M	-3.99M
Total Other Non Interest Income	310M	352M	384M	409M	431M
Non Interest Income, Total	318M	490M	385M	535M	562M
Revenues Before Provison For Loan Losses	812M	1.02B	1.07B	1.48B	1.66B
Provision For Loan Losses	141M	140M	153M	203M	196M
Total Revenues	671M	884M	920M	1.28B	1.46B
Salaries And Other Employee Benefits	251M	270M	272M	300M	321M
Amort. of Goodwill & Intang. Assets	16.66M	16.68M	17.06M	18.65M	19.93M
Occupancy Expense	44.02M	37.36M	45.27M	49.26M	52.32M
Selling General & Admin Expenses, Total	279M	291M	308M	322M	339M
(Income) Loss on Equity Invest.	-27M	-35.9M	-27.77M	-38.52M	-44.71M
Total Other Non Interest Expense	-50.01M	-72.31M	-53.56M	-41.61M	-77.06M
Non Interest Expense, Total	513M	507M	561M	610M	611M
EBT, Excl. Unusual Items	158M	377M	359M	667M	852M
Impairment of Goodwill	94K	1.02M	-86K	597K	-4.53M
Asset Writedown	-707K	-882K	-2.92M	-6.87M	-7.23M
Other Unusual Items	30K	-2.9M	-2.31M	-25K	677K
EBT, Incl. Unusual Items	157M	375M	354M	660M	841M
Income Tax Expense	47.18M	99.52M	103M	199M	266M
Earnings From Continuing Operations	110M	275M	251M	461M	575M
Net Income to Company	110M	275M	251M	461M	575M
Minority Interest	-3.15M	-6.39M	-	-	-
Net Income - (IS)	107M	269M	251M	461M	575M
Net Income to Common Incl Extra Items	107M	269M	251M	461M	575M
Net Income to Common Excl. Extra Items	107M	269M	251M	461M	575M
Per Share Items
Net EPS - Basic	0.24	-	-	1.03	1.28
Basic EPS - Continuing Operations	0.24	-	-	1.03	1.28
Basic Weighted Average Shares Outstanding	450M	-	-	450M	450M
Net EPS - Diluted	0.24	-	-	1.03	1.28
Diluted EPS - Continuing Operations	0.24	-	-	1.03	1.28
Diluted Weighted Average Shares Outstanding	450M	-	-	450M	450M
Normalized Basic EPS	0.21	-	-	0.93	1.18
Normalized Diluted EPS	0.21	-	-	0.93	1.18
Dividend Per Share	0.06	0.2	0.28	0.56	0.8
Payout Ratio	-	9.81	36	27.53	43.81
Supplemental Items
Effective Tax Rate - (Ratio)	30.07	26.57	28.98	30.16	31.61
Current Domestic Taxes	11.04M	-	-	-	-
Total Current Taxes	11.04M	53.75M	80.13M	146M	206M
Deferred Domestic Taxes	36.14M	-	-	-	-
Total Deferred Taxes	36.14M	45.78M	22.44M	53.13M	59.87M
Normalized Net Income	95.3M	229M	225M	417M	532M
Non-Cash Pension Expense	852K	-	774K	-	615K

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	5.07B	5.65B	6.99B	4.55B	3.74B
Investment Securities, Total	4.66B	5.69B	5.39B	4.93B	5.12B
Trading Asset Securities, Total	543M	204M	180M	152M	176M
Total investments	5.21B	5.89B	5.57B	5.08B	5.3B
Gross Loans	37.23B	40.53B	43.03B	45.37B	44.54B
Allowance For Loan Losses	-1.37B	-1.04B	-925M	-930M	-885M
Net Loans	35.86B	39.49B	42.1B	44.44B	43.66B
Gross Property Plant And Equipment	846M	867M	997M	1.06B	1.08B
Accumulated Depreciation	-340M	-369M	-430M	-469M	-495M
Net Property Plant And Equipment	506M	498M	566M	595M	583M
Goodwill	12.63M	12.63M	17M	17M	12.63M
Other Intangibles, Total	15.7M	18.38M	19.67M	20.76M	23.2M
Investment in Real Estate	62.08M	81.3M	84.48M	82.19M	80.4M
Accrued Interest Receivable	39.23M	47.45M	52.27M	53.49M	106M
Other Receivables	73.83M	479M	1.49B	2B	2.16B
Restricted Cash	2.27B	2.23B	353M	322M	331M
Other Current Assets, Total	78.12M	83.14M	87.91M	98.17M	189M
Deferred Tax Assets Long-Term (Collected)	377M	322M	325M	259M	188M
Other Long-Term Assets, Total	238M	208M	186M	207M	262M
Total Assets	49.81B	55.02B	57.85B	57.72B	56.63B
Liabilities
Accounts Payable, Total	20.35M	21.1M	30.84M	42.46M	44.91M
Accrued Expenses, Total	74.78M	75.77M	82.24M	90.86M	110M
Interest Bearing Deposits	1.52B	1.56B	3.62B	5.41B	6.53B
Non-Interest Bearing Deposits	32.29B	35.31B	34.08B	31.09B	32.9B
Total Deposits	33.82B	36.87B	37.7B	36.51B	39.43B
Short-Term Borrowings	95.51M	107M	2.32B	5.55B	5.44B
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	22.16M	23.56M	24.84M	23.91M	23.23M
Long-Term Debt	11.31B	13.12B	13.08B	9.58B	5.67B
Long-Term Leases	178M	160M	146M	139M	123M
Current Income Taxes Payable	3.57M	4.26M	3.16M	42M	41.5M
Other Current Liabilities - (Bank / Utility Template)	550M	535M	548M	735M	603M
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	232M	232M	203M	212M	222M
Deferred Tax Liability Non-Current	33.83M	35.61M	29.2M	29.36M	30.92M
Other Non Current Liabilities	371M	452M	301M	960M	733M
Total Liabilities	46.71B	51.64B	54.47B	53.91B	52.47B
Common Stock, Total	1.36B	1.36B	1.36B	1.36B	1.36B
Additional Paid In Capital	79M	79M	78.98M	78.95M	78.93M
Retained Earnings	1.52B	1.79B	2.01B	2.38B	2.7B
Treasury Stock	-25.39M	-25.46M	-25.4M	-25.42M	-25.22M
Comprehensive Income and Other	63.73M	68.33M	-32.19M	19.67M	43.36M
Total Common Equity	3B	3.27B	3.39B	3.81B	4.16B
Minority Interest	98.1M	105M	4K	14K	14K
Total Equity	3.1B	3.38B	3.39B	3.81B	4.16B
Total Liabilities And Equity	49.81B	55.02B	57.85B	57.72B	56.63B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	450M	-	-	450M	450M
ECS Total Common Shares Outstanding	450M	-	-	450M	450M
Book Value / Share	6.67	-	-	8.47	9.24
Tangible Book Value	2.97B	3.24B	3.35B	3.77B	4.12B
Tangible Book Value Per Share	6.6	-	-	8.39	9.16
Total Debt	11.61B	13.41B	15.57B	15.29B	11.26B
Deposits at Interest - Cash	4.94B	-	-	-	-
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-164M
Net Debt	5.48B	7.32B	7.83B	10.6B	6.7B
Equity Method Investments, Total	305M	339M	323M	376M	403M
Full Time Employees	3.33K	3.4K	3.47K	3.6K	3.72K
Part Time Employees	-	-	-	-	-
Number Of Offices	369	-	373	-	381

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	107M	269M	251M	461M	575M
Depreciation, Depletion & Amortization	38.05M	37.36M	45.27M	49.26M	52.32M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	337K	535K	626K
Total Depreciation, Depletion & Amortization	38.05M	37.36M	45.6M	49.79M	52.94M
Amortization of Deferred Charges, Total	16.66M	16.68M	16.72M	18.11M	19.3M
(Gain) Loss on Sale of Investments - (CF)	-280K	-49.53M	60.7M	-59.56M	-18.55M
Total Asset Writedown	6.67M	881K	2.92M	6.87M	3.88M
Provision for Credit Losses	152M	148M	170M	212M	206M
Change in Trading Asset Securities	-291M	-635M	597M	33.93M	559M
Change in Other Net Operating Assets (Collected)	3.17B	395M	212M	-3.24B	-2.22B
Other Operating Activities	61.58M	163M	223M	211M	313M
Cash from Operations	3.26B	345M	1.58B	-2.31B	-506M
Capital Expenditure	-32.09M	-39.09M	-112M	-101M	-101M
Sale of Property, Plant, and Equipment	1.91M	4.12M	944K	32.66M	53.59M
Purchase / Sale of Intangible Assets	-14.02M	-19.3M	-18.26M	-19.63M	-22.46M
Investment in Marketable and Equity Securities, Total	6.61M	-	-81.99M	3K	-940K
Other Investing Activities, Total	10.58M	10.95M	12.76M	16.3M	29.22M
Cash from Investing	-27.01M	-43.32M	-198M	-71.18M	-41.48M
Issuance of Common Stock	-	-	523K	26K	-
Repurchase of Common Stock	-14K	-69K	-	-	-198K
Common Dividends Paid	-	-26.35M	-90.46M	-127M	-252M
Common & Preferred Stock Dividends Paid	-	-26.35M	-90.46M	-127M	-252M
Net Increase (Decrease) in Deposit Accounts - (CF)	-	-	-	-	-
Cash from Financing	-14K	-26.42M	-89.94M	-127M	-252M
Foreign Exchange Rate Adjustments	2.75M	40.09M	47.03M	60.11M	-8.91M
Net Change in Cash	3.24B	315M	1.34B	-2.44B	-808M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.24	0.52	0.45	0.8	1.01
Return On Equity %	3.64	8.5	7.43	12.82	14.44
Return on Common Equity	3.65	8.57	7.55	12.82	14.44
Shareholders Value Added	-244M	-107M	-148M	29.89M	97.63M
Margin Analysis
SG&A Margin	85.52	67.68	67.96	52.6	48.73
Net Interest Income / Total Revenues %	73.68	60.41	74.7	74	74.97
EBT Excl. Non-Recurring Items Margin %	23.47	42.67	39.02	52.22	58.24
Income From Continuing Operations Margin %	16.35	31.11	27.3	36.13	39.31
Net Income Margin %	15.89	30.38	27.3	36.13	39.31
Net Avail. For Common Margin %	15.89	30.38	27.3	36.13	39.31
Normalized Net Income Margin	14.2	25.95	24.39	32.64	36.4
Asset quality
Nonperforming Loans / Total Loans %	6.04	-	3.39	-	2.15
Nonperforming Loans / Total Assets %	4.52	-	2.52	-	1.69
Nonperforming Assets / Total Assets %	4.52	-	2.52	-	1.69
NPAs / Loans and OREO	6.04	-	3.39	-	2.15
NPAs / Equity	72.7	-	43.11	-	23.07
Allowance for Credit Losses / Nonperforming Loans %	61	-	63.37	-	92.32
Allowance for Credit Losses / Total Loans %	3.69	2.58	2.15	2.05	1.99
Capital And Funding
Total Average Common Equity / Total Average Assets %	6.42	5.98	5.9	6.23	6.97
Total Average Equity / Total Average Assets %	6.63	6.17	5.99	6.23	6.97
Total Equity + Allowance for Loan Losses / Total Loans %	11.74	10.64	10.02	10.45	11.32
Gross Loans / Total Deposits %	110.1	109.92	114.14	124.28	112.97
Net Loans / Total Deposits %	106.05	107.09	111.69	121.73	110.72
Tier 1 Capital Ratio %	16.36	-	15.39	-	15.39
Total Capital Ratio %	18.55	-	17.95	-	18.18
Core Tier 1 Capital Ratio	16.32	-	15.39	-	15.39
Tier 2 Capital Ratio	-	-	-	-	-
Coverage Ratio	61	-	63.37	-	92.32
Interbank Ratio	77.18	52.68	65.22	34.2	29.07
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	2.5	4.31	3.31	1.75	1.82
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	6.56	8.04	28.72	37.39	16.09
Non Interest Income, 1 Yr. Growth %	-27.26	54.14	-21.37	38.68	5.09
Provision For Loan Losses, 1 Yr. Growth %	-33.95	-0.85	8.78	32.86	-3.46
Total Revenues, 1 Yr. Growth %	-2.34	31.76	4.11	38.68	14.59
Earnings From Cont. Operations, 1 Yr. Growth %	-21.32	150.6	-8.62	83.5	24.67
Net Income, 1 Yr. Growth %	-22.44	152.01	-6.44	83.5	24.67
Normalized Net Income, 1 Yr. Growth %	-19.77	140.75	-2.15	85.65	28.69
Diluted EPS Before Extra, 1 Yr. Growth %	-22.44	-	-	-	24.71
Dividend Per Share, 1 Yr. Growth %	-	233.33	40	100	42.86
Gross Loans, 1 Yr. Growth %	7.81	9.96	6.16	3.2	-0.46
Allowance For Loan Losses, 1 Yr. Growth %	-39	-17.72	-11.37	0.56	-4.87
Net Loans, 1 Yr. Growth %	11.07	10.95	6.63	3.26	-0.36
Non Performing Loans, 1 Yr. Growth %	-	-	-22.16	-	-
Non Performing Assets, 1 Yr. Growth %	-	-	-22.16	-	-
Total Assets, 1 Yr. Growth %	21.05	10.46	5.16	-0.23	-1.89
Total Deposits, 1 Yr Growth %	11.68	9.04	2.24	-2.92	8.01
Tangible Book Value, 1 Yr. Growth %	5.64	9.1	3.44	12.56	9.25
Common Equity, 1 Yr. Growth %	5.48	9.1	3.58	12.45	9.11
Total Equity, 1 Yr. Growth %	5.41	9.03	0.37	12.45	9.11
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	-4.07	7.3	17.93	32.98	26.29
Non Interest Income, 2 Yr. CAGR %	-4.69	5.89	10.09	4.42	20.72
Provision For Loan Losses, 2 Yr. CAGR %	-23.45	-19.07	3.86	20.22	13.25
Total Revenues, 2 Yr. CAGR %	1.91	13.44	17.12	20.16	26.06
Earnings From Cont. Operations, 2 Yr. CAGR %	-1.87	40.42	51.33	29.49	51.25
Net Income, 2 Yr. CAGR %	-1.92	39.81	53.55	31.02	51.25
Normalized Net Income, 2 Yr. CAGR %	5.34	38.98	53.49	34.75	54.03
Diluted EPS Before Extra, 2 Yr. CAGR %	-1.92	-	-	-	-
Dividend Per Share, 2 Yr. CAGR %	9.54	-	116.02	67.33	69.03
Gross Loans, 2 Yr. CAGR %	6.03	8.33	8.05	5.8	0.66
Allowance For Loan Losses, 2 Yr. CAGR %	-24.56	-31.89	-14.61	-5.6	-2.19
Net Loans, 2 Yr. CAGR %	8.06	10.59	8.77	6.08	0.72
Non Performing Loans, 2 Yr. CAGR %	-	-	-	-	-
Non Performing Assets, 2 Yr. CAGR %	-	-	-	-	-
Total Assets, 2 Yr. CAGR %	10.05	15.63	7.78	2.43	-1.07
Total Deposits, 2 Yr CAGR %	6.64	10.35	5.58	-0.5	2.4
Tangible Book Value, 2 Yr. CAGR %	6.51	7.36	6.23	7.9	10.89
Common Equity, 2 Yr. CAGR %	6.34	7.28	6.3	7.92	10.77
Total Equity, 2 Yr. CAGR %	6.22	7.2	4.61	6.24	10.77
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	-0.07	-0.19	14.01	24.09	27.1
Non Interest Income, 3 Yr. CAGR %	-9.58	11.87	-4.12	18.9	4.64
Provision For Loan Losses, 3 Yr. CAGR %	-15.18	-16.55	-10.69	12.74	11.74
Total Revenues, 3 Yr. CAGR %	-1.11	11.02	10.24	23.91	18.27
Earnings From Cont. Operations, 3 Yr. CAGR %	-12.74	34.13	21.69	61.37	27.87
Net Income, 3 Yr. CAGR %	-12.52	34.34	22.29	62.94	28.87
Normalized Net Income, 3 Yr. CAGR %	-12.28	38.76	23.64	63.51	32.39
Diluted EPS Before Extra, 3 Yr. CAGR %	-12.51	-	-	62.94	-
Dividend Per Share, 3 Yr. CAGR %	-5.01	58.74	-	110.55	58.74
Gross Loans, 3 Yr. CAGR %	14.38	6.96	7.6	7.17	3.2
Allowance For Loan Losses, 3 Yr. CAGR %	-	-24.35	-25.64	-9.82	-5.35
Net Loans, 3 Yr. CAGR %	12.96	8.74	9.25	7.68	3.4
Non Performing Loans, 3 Yr. CAGR %	-18.94	-	-	-	-20.05
Non Performing Assets, 3 Yr. CAGR %	-18.94	-	-	-	-20.05
Total Assets, 3 Yr. CAGR %	6.16	10.18	12.03	5.04	0.97
Total Deposits, 3 Yr CAGR %	4.7	7.43	7.58	2.58	2.26
Tangible Book Value, 3 Yr. CAGR %	3.8	7.36	6.03	8.3	8.35
Common Equity, 3 Yr. CAGR %	3.82	7.25	6.03	8.32	8.32
Total Equity, 3 Yr. CAGR %	3.78	7.15	4.87	7.16	7.19
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	-1.97	2.1	6.77	11.95	18.77
Non Interest Income, 5 Yr. CAGR %	-8.51	5.49	-2.17	8.83	5.14
Provision For Loan Losses, 5 Yr. CAGR %	-18.37	-10.93	-8.03	-3.43	-1.79
Total Revenues, 5 Yr. CAGR %	0.56	7.83	5.81	14.59	16.31
Earnings From Cont. Operations, 5 Yr. CAGR %	-4.41	22.46	8.76	32.26	32.75
Net Income, 5 Yr. CAGR %	-3.79	22.2	9.56	33	33.14
Normalized Net Income, 5 Yr. CAGR %	-3.26	23.38	9.72	37.14	34.99
Diluted EPS Before Extra, 5 Yr. CAGR %	-3.62	-	-	33	33.11
Dividend Per Share, 5 Yr. CAGR %	-3.04	27.23	31.95	62.12	-
Gross Loans, 5 Yr. CAGR %	7.58	8.35	11.58	6.5	5.22
Allowance For Loan Losses, 5 Yr. CAGR %	-7.81	-13.72	-	-17.34	-17.02
Net Loans, 5 Yr. CAGR %	8.57	9.61	11.09	7.67	6.22
Non Performing Loans, 5 Yr. CAGR %	-11.96	-	-19.14	-	-
Non Performing Assets, 5 Yr. CAGR %	-11.96	-	-19.14	-	-
Total Assets, 5 Yr. CAGR %	6.98	8.14	6.81	7.01	6.6
Total Deposits, 5 Yr CAGR %	5.28	5.69	5.05	4.19	5.42
Tangible Book Value, 5 Yr. CAGR %	3.17	4.91	4.76	7.58	7.95
Common Equity, 5 Yr. CAGR %	3.18	4.92	4.81	7.52	7.9
Total Equity, 5 Yr. CAGR %	3.16	4.9	4.11	6.78	7.19