Income Statement Banco BPM S.p.A.

Equities

BAMI

IT0005218380

Banks

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Published financial data: BANCO BPM S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Interest Income On Loans	2.42B	2.43B	2.94B	6.56B	7.23B
Interest Income On Investments	42.02M	53.72M	60.84M	79.49M	93.15M
Interest Income, Total	2.46B	2.48B	3B	6.64B	7.32B
Interest On Deposits	460M	409M	596M	3.19B	3.51B
Interest Expense, Total	460M	409M	596M	3.19B	3.51B
Net Interest Income	2B	2.07B	2.4B	3.45B	3.81B
Income From Trading Activities	16.91M	79.52M	174M	84.62M	130M
Gain (Loss) on Sale of Loans	-272M	-145M	-60.95M	-42.59M	-61.4M
Gain (Loss) on Sale of Assets	-	-	-	-	-
Gain (Loss) on Sale of Invest. & Securities - (Rev)	259M	31.5M	-111M	-67.3M	599M
Total Other Non Interest Income	1.63B	1.89B	1.86B	1.68B	1.38B
Non Interest Income, Total	1.64B	1.86B	1.86B	1.65B	2.05B
Revenues Before Provison For Loan Losses	3.64B	3.93B	4.26B	5.1B	5.86B
Provision For Loan Losses	1.05B	630M	481M	515M	404M
Total Revenues	2.59B	3.3B	3.78B	4.59B	5.45B
Salaries And Other Employee Benefits	1.86B	1.68B	1.61B	1.65B	1.91B
Amort. of Goodwill & Intang. Assets	110M	112M	130M	-	-
Occupancy Expense	179M	166M	181M	277M	292M
Selling General & Admin Expenses, Total	1.06B	1.11B	1.16B	1.12B	1.06B
(Income) Loss on Equity Invest.	-131M	-213M	-147M	-40.82M	-104M
Total Other Non Interest Expense	-315M	-369M	-328M	-370M	-374M
Non Interest Expense, Total	2.77B	2.48B	2.61B	2.64B	2.79B
EBT, Excl. Unusual Items	-185M	815M	1.18B	1.95B	2.67B
Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-25.1M	-	-8.13M	-	-
Asset Writedown	-25.38M	-144M	-115M	-148M	-55.23M
Legal Settlements	-36.4M	-25.12M	-35.33M	-18M	-23.14M
Other Unusual Items	22.6M	7.13M	4.36M	-3.63M	8.77M
EBT, Incl. Unusual Items	-249M	654M	1.02B	1.78B	2.6B
Income Tax Expense	-266M	84.96M	321M	513M	676M
Earnings From Continuing Operations	16.63M	569M	702M	1.26B	1.92B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	16.63M	569M	702M	1.26B	1.92B
Minority Interest	4.25M	284K	786K	22K	11K
Net Income - (IS)	20.88M	569M	703M	1.26B	1.92B
Preferred Dividend and Other Adjustments	-	-	-	4M	5M
Net Income to Common Incl Extra Items	20.88M	569M	703M	1.26B	1.92B
Net Income to Common Excl. Extra Items	20.88M	569M	703M	1.26B	1.92B
Per Share Items
Net EPS - Basic	0.01	0.38	0.47	0.84	1.27
Basic EPS - Continuing Operations	0.01	0.38	0.47	0.84	1.27
Basic Weighted Average Shares Outstanding	1.51B	1.51B	1.51B	1.51B	1.51B
Net EPS - Diluted	0.01	0.38	0.46	0.84	1.27
Diluted EPS - Continuing Operations	0.01	0.38	0.46	0.84	1.27
Diluted Weighted Average Shares Outstanding	1.51B	1.51B	1.51B	1.51B	1.51B
Normalized Basic EPS	-0.07	0.34	0.49	0.81	1.11
Normalized Diluted EPS	-0.07	0.34	0.49	0.81	1.11
Dividend Per Share	0.06	0.19	0.23	0.56	1
Payout Ratio	-	-	41.04	27.64	75.44
American Depositary Receipts Ratio (ADR)	4	4	4	4	4
Supplemental Items
Effective Tax Rate - (Ratio)	106.67	13	31.4	28.87	26.03
Total Current Taxes	-58.56M	-81.14M	48.1M	63.35M	-98.11M
Total Deferred Taxes	-207M	166M	273M	450M	774M
Normalized Net Income	-111M	510M	737M	1.22B	1.67B
Non-Cash Pension Expense	525K	-38K	-	3.37M	2.75M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	3.29M	7.78M	8.85M	8.71M	11.31M
Total Stock-Based Compensation	3.29M	7.78M	8.85M	8.71M	11.31M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	8.86B	29.16B	13.14B	18.3B	12.13B
Investment Securities, Total	19.11B	18.95B	22.3B	36.77B	39.23B
Trading Asset Securities, Total	7.7B	4.99B	6.25B	5.74B	7.04B
Total investments	26.81B	23.94B	28.55B	42.51B	46.27B
Gross Loans	133B	129B	137B	129B	127B
Allowance For Loan Losses	-4.77B	-3.57B	-2.87B	-2.35B	-1.73B
Net Loans	129B	125B	134B	127B	126B
Gross Property Plant And Equipment	4.27B	4.15B	4.17B	4.32B	4.53B
Accumulated Depreciation	-1.88B	-1.98B	-2.09B	-2.29B	-2.49B
Net Property Plant And Equipment	2.39B	2.17B	2.08B	2.04B	2.04B
Goodwill	51.1M	54.86M	56.71M	56.71M	56.71M
Other Intangibles, Total	1.17B	1.16B	1.23B	1.2B	1.2B
Investment in Real Estate	1.16B	1.11B	955M	822M	477M
Accrued Interest Receivable	55.12M	36.44M	32.5M	132M	90.07M
Other Receivables	1.42B	2.19B	3.31B	4.38B	4.91B
Restricted Cash	7.82B	10.04B	1.3B	931M	1.01B
Other Current Assets, Total	72.82M	230M	215M	469M	445M
Deferred Tax Assets Long-Term (Collected)	4.47B	4.29B	4.36B	3.85B	3.12B
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	699M	705M	726M	879M	957M
Total Assets	184B	200B	190B	202B	198B
Liabilities
Accounts Payable, Total	247M	234M	197M	226M	217M
Accrued Expenses, Total	681M	620M	542M	682M	994M
Interest Bearing Deposits	2.65B	2.26B	2.56B	1.64B	2.72B
Non-Interest Bearing Deposits	99.01B	104B	104B	98.81B	99.22B
Total Deposits	102B	107B	106B	100B	102B
Short-Term Borrowings	8.81B	7.83B	8.54B	7.15B	6.76B
Current Portion of Leases	137M	1.4M	111M	112M	109M
Long-Term Debt	44.84B	54.88B	44.97B	43.59B	34.05B
Long-Term Leases	623M	672M	517M	561M	539M
Current Income Taxes Payable	5.67M	8.89M	1.61M	63.34M	41.69M
Other Current Liabilities - (Bank / Utility Template)	10.66B	12.94B	9B	20.65B	22.23B
Pension & Other Post Retirement Benefits	503M	445M	358M	338M	321M
Deferred Tax Liability Non-Current	459M	294M	278M	391M	430M
Other Non Current Liabilities	2.83B	2.75B	1.76B	13.88B	15.98B
Total Liabilities	171B	187B	173B	188B	184B
Common Stock, Total	7.1B	7.1B	7.1B	7.1B	7.1B
Retained Earnings	3.81B	4.24B	4.58B	5.46B	5.53B
Treasury Stock	-14M	-8.16M	-18.27M	-22.94M	-66.71M
Comprehensive Income and Other	1.33B	1.76B	5.52B	1.5B	2.04B
Total Common Equity	12.23B	13.09B	17.18B	14.04B	14.6B
Minority Interest	1.89M	1.11M	720K	68K	69K
Total Equity	12.23B	13.1B	17.18B	14.04B	14.6B
Total Liabilities And Equity	184B	200B	190B	202B	198B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.51B	1.51B	1.51B	1.51B	1.5B
ECS Total Common Shares Outstanding	1.51B	1.51B	1.51B	1.51B	1.5B
Book Value / Share	8.1	8.66	11.39	9.31	9.73
Tangible Book Value	11.01B	11.88B	15.9B	12.78B	13.35B
Tangible Book Value Per Share	7.29	7.86	10.53	8.47	8.89
Total Debt	54.41B	63.38B	54.14B	51.41B	41.46B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Net Debt	33.43B	25.13B	31.96B	21.46B	18.96B
Equity Method Investments, Total	1.66B	1.79B	1.45B	1.45B	1.71B
Full Time Employees	17.97K	16.55K	19.16K	18.77K	16.16K
Part Time Employees	3.54K	3.41K	-	-	3.34K
Number Of Offices	1.81K	1.51K	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	20.88M	569M	703M	1.26B	1.92B
Depreciation, Depletion & Amortization	179M	166M	181M	146M	152M
Amortization of Goodwill and Intangible Assets - (CF)	110M	109M	38.62M	33.04M	32.36M
Total Depreciation, Depletion & Amortization	289M	275M	219M	179M	185M
Amortization of Deferred Charges, Total	-	3.12M	91.75M	97.97M	108M
(Gain) Loss on Sale of Investments - (CF)	-223M	-111M	-15.94M	-125M	-229M
Total Asset Writedown	13.76M	2.01M	15.18M	620K	681K
Provision for Credit Losses	1.05B	639M	481M	516M	405M
Change in Trading Asset Securities	370M	2.8B	-2.11B	-6.49B	-4.53B
Change in Other Net Operating Assets (Collected)	6.64B	15.61B	-15.33B	2.03B	-3.91B
Other Operating Activities	-355M	-107M	269M	8.42B	1.16B
Cash from Operations	7.8B	19.68B	-15.68B	5.89B	-4.89B
Capital Expenditure	-66.36M	-92.32M	-122M	-73.54M	-114M
Sale of Property, Plant, and Equipment	9.74M	17.72M	1.84M	5.52M	1.55M
Purchase / Sale of Intangible Assets	-86.49M	-106M	-204M	-115M	-143M
Investment in Marketable and Equity Securities, Total	-68.24M	314K	74.3M	40.64M	228M
Cash from Investing	-211M	-180M	-250M	-143M	-26.88M
Issuance of Common Stock	359M	332M	208M	-	37.94M
Repurchase of Common Stock	-4.08M	-	-16.02M	-30.09M	-50.04M
Common Dividends Paid	-	-	-288M	-350M	-1.45B
Common & Preferred Stock Dividends Paid	-	-	-288M	-350M	-1.45B
Net Increase (Decrease) in Deposit Accounts - (CF)	-	-	-	-	-
Special Dividend Paid	-	-90.54M	-	-	-
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	355M	242M	-96.34M	-380M	-1.46B
Net Change in Cash	7.95B	19.74B	-16.02B	5.37B	-6.38B
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.01	0.3	0.36	0.65	0.96
Return On Equity %	0.14	4.49	4.64	9.35	13.41
Return on Common Equity	0.17	4.49	4.64	9.32	13.37
Shareholders Value Added	-1.31B	-841M	-1.08B	-326M	234M
Margin Analysis
SG&A Margin	120.14	89.54	77.99	66.5	59.88
Net Interest Income / Total Revenues %	77.26	62.78	63.48	75.24	69.89
EBT Excl. Non-Recurring Items Margin %	-7.15	24.73	31.12	42.46	48.88
Income From Continuing Operations Margin %	0.64	17.25	18.55	27.57	35.21
Net Income Margin %	0.81	17.26	18.57	27.57	35.21
Net Avail. For Common Margin %	0.81	17.26	18.57	27.49	35.12
Normalized Net Income Margin	-4.31	15.47	19.47	26.54	30.55
Asset quality
Nonperforming Loans / Total Loans %	6.43	4.94	-	-	2.23
Nonperforming Loans / Total Assets %	4.67	3.18	-	-	1.43
Nonperforming Assets / Total Assets %	4.67	3.18	-	-	1.43
NPAs / Loans and OREO	6.43	4.94	-	-	2.23
NPAs / Equity	70.22	48.69	-	-	19.4
Allowance for Credit Losses / Net Charge-offs %	879.98	597.35	-	-	997.86
Allowance for Credit Losses / Nonperforming Loans %	55.5	56.06	-	-	61.13
Allowance for Credit Losses / Total Loans %	3.57	2.77	2.1	1.82	1.36
Provision for Loan Losses / Net Charge-offs %	193.74	105.28	-	-	232.87
Capital And Funding
Total Average Common Equity / Total Average Assets %	6.87	6.59	7.76	6.9	7.16
Total Average Equity / Total Average Assets %	6.88	6.59	7.76	6.9	7.16
Total Equity + Allowance for Loan Losses / Total Loans %	12.73	12.92	14.68	12.71	12.84
Gross Loans / Total Deposits %	131.29	120.86	128.6	128.34	124.82
Net Loans / Total Deposits %	126.6	117.51	125.9	126	123.12
Tier 1 Capital Ratio %	15.85	16.52	-	-	17.3
Total Capital Ratio %	18.75	19.59	-	-	20.33
Core Tier 1 Capital Ratio	14.63	14.68	-	-	15.05
Tier 2 Capital Ratio	-	-	-	-	-
Coverage Ratio	55.5	56.06	-	-	61.13
Leverage Ratio %	-	-	-	-	-
Interbank Ratio	67.73	41.16	66.54	67.93	50.99
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	0.46	2.6	2.72	1.56	1.74
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	-3.33	3.56	16.06	43.62	10.47
Non Interest Income, 1 Yr. Growth %	-30.4	13.42	0.29	-10.44	23.99
Provision For Loan Losses, 1 Yr. Growth %	44.77	-39.96	-23.72	7.21	-21.56
Total Revenues, 1 Yr. Growth %	-30	27.45	14.78	21.81	18.94
Earnings From Cont. Operations, 1 Yr. Growth %	-97.87	3.32K	23.39	84.79	51.88
Net Income, 1 Yr. Growth %	-97.38	2.63K	23.46	84.58	51.88
Normalized Net Income, 1 Yr. Growth %	-116.89	-588.8	44.84	68.79	36.98
Diluted EPS Before Extra, 1 Yr. Growth %	-97.37	2.61K	23.73	84.94	52.25
Dividend Per Share, 1 Yr. Growth %	-	216.67	21.05	143.48	78.57
Gross Loans, 1 Yr. Growth %	7.78	-2.96	5.89	-5.63	-1.66
Allowance For Loan Losses, 1 Yr. Growth %	-2.19	-24.9	-20.35	-18.09	-26.2
Net Loans, 1 Yr. Growth %	8.19	-2.14	6.64	-5.36	-1.21
Non Performing Loans, 1 Yr. Growth %	-14.88	-25.74	-	-	-
Non Performing Assets, 1 Yr. Growth %	-14.88	-25.74	-	-	-
Total Assets, 1 Yr. Growth %	9.97	9.15	-5.39	6.49	-1.92
Total Deposits, 1 Yr Growth %	13.67	4.98	-0.47	-5.44	1.48
Tangible Book Value, 1 Yr. Growth %	3.92	7.95	33.8	8.67	4.4
Common Equity, 1 Yr. Growth %	3.07	7.11	31.23	7.85	4.03
Total Equity, 1 Yr. Growth %	2.86	7.11	31.22	7.85	4.03
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	-7.67	0.06	9.64	29.11	25.96
Non Interest Income, 2 Yr. CAGR %	-8.06	-11.15	6.65	-5.72	5.38
Provision For Loan Losses, 2 Yr. CAGR %	-20.85	-6.77	-32.32	-9.57	-8.3
Total Revenues, 2 Yr. CAGR %	-0.38	-5.54	20.95	17.94	20.36
Earnings From Cont. Operations, 2 Yr. CAGR %	-51.25	-14.68	549.58	49.1	67.53
Net Income, 2 Yr. CAGR %	-40.73	-15.5	480.08	49.06	67.43
Normalized Net Income, 2 Yr. CAGR %	-3.28	-12.08	165.75	54.69	52.01
Diluted EPS Before Extra, 2 Yr. CAGR %	-41.16	-15.48	479.18	49.3	67.8
Dividend Per Share, 2 Yr. CAGR %	-	-	95.79	71.68	108.51
Gross Loans, 2 Yr. CAGR %	4.85	2.05	1.38	-0.04	-3.49
Allowance For Loan Losses, 2 Yr. CAGR %	-6.56	-14.35	-22.38	-19.23	-22.29
Net Loans, 2 Yr. CAGR %	5.35	2.67	2.15	0.46	-3.13
Non Performing Loans, 2 Yr. CAGR %	-14.75	-20.49	-	-	-
Non Performing Assets, 2 Yr. CAGR %	-14.75	-20.49	-	-	-
Total Assets, 2 Yr. CAGR %	6.99	9.56	1.62	0.41	2.19
Total Deposits, 2 Yr CAGR %	10.61	9.24	2.22	-2.98	-2.04
Tangible Book Value, 2 Yr. CAGR %	10.7	5.91	20.18	3.72	6.53
Common Equity, 2 Yr. CAGR %	9.16	5.07	18.56	3.54	5.93
Total Equity, 2 Yr. CAGR %	8.93	4.96	18.55	3.53	5.92
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	-0.5	-4.07	5.13	19.96	22.57
Non Interest Income, 3 Yr. CAGR %	-1.27	-1.39	-7.49	0.27	3.29
Provision For Loan Losses, 3 Yr. CAGR %	-6.87	-27.81	-12.8	-21.11	-13.76
Total Revenues, 3 Yr. CAGR %	2.09	8.15	0.79	21.03	18.27
Earnings From Cont. Operations, 3 Yr. CAGR %	-79.19	101.05	-3.52	323.63	50.02
Net Income, 3 Yr. CAGR %	-80.02	112.35	-4.12	292.7	49.99
Normalized Net Income, 3 Yr. CAGR %	-12.47	62.38	3.75	126.81	48.51
Diluted EPS Before Extra, 3 Yr. CAGR %	-77.56	110.94	-4.03	292.43	50.28
Dividend Per Share, 3 Yr. CAGR %	-	-	-	110.55	73.95
Gross Loans, 3 Yr. CAGR %	8.51	2.04	3.32	-1.01	-0.46
Allowance For Loan Losses, 3 Yr. CAGR %	-	-13.16	-16.2	-20.98	-21.65
Net Loans, 3 Yr. CAGR %	7.21	2.65	3.98	-0.42	0.02
Non Performing Loans, 3 Yr. CAGR %	-30.37	-18.58	-	-	-
Non Performing Assets, 3 Yr. CAGR %	-30.37	-18.58	-	-	-
Total Assets, 3 Yr. CAGR %	4.45	7.71	4.33	3.24	-0.38
Total Deposits, 3 Yr CAGR %	6.85	8.7	5.9	-0.4	-1.52
Tangible Book Value, 3 Yr. CAGR %	1.25	9.78	14.49	5.11	3.95
Common Equity, 3 Yr. CAGR %	0.9	8.47	13.15	4.72	3.7
Total Equity, 3 Yr. CAGR %	0.73	8.32	13.07	4.71	3.7
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	4.52	9.05	3.44	8.03	13.01
Non Interest Income, 5 Yr. CAGR %	-2.3	7.41	1.83	-3.15	-2.75
Provision For Loan Losses, 5 Yr. CAGR %	3.42	-23.73	-18.04	-21	-11.03
Total Revenues, 5 Yr. CAGR %	0.24	75.33	9.25	11.96	8.1
Earnings From Cont. Operations, 5 Yr. CAGR %	-47.54	-20.14	-17.57	78.39	19.7
Net Income, 5 Yr. CAGR %	-45.39	-19.48	-23.12	84.32	19.23
Normalized Net Income, 5 Yr. CAGR %	-20.57	-16.16	34.7	59.18	20.36
Diluted EPS Before Extra, 5 Yr. CAGR %	-58.99	-33.35	-17.63	83.71	19.37
Dividend Per Share, 5 Yr. CAGR %	-16.74	-	-	-	-
Gross Loans, 5 Yr. CAGR %	10.7	10.44	5.51	1.21	0.54
Allowance For Loan Losses, 5 Yr. CAGR %	-7.18	-13.41	-	-15.52	-18.69
Net Loans, 5 Yr. CAGR %	11.9	12	5.07	1.77	1.07
Non Performing Loans, 5 Yr. CAGR %	-16.09	-20.16	-	-	-22.43
Non Performing Assets, 5 Yr. CAGR %	-16.09	-20.16	-	-	-22.43
Total Assets, 5 Yr. CAGR %	8.86	11.3	3.31	4.73	3.48
Total Deposits, 5 Yr CAGR %	17.18	16.02	4.97	3.87	2.65
Tangible Book Value, 5 Yr. CAGR %	11.28	15.33	8.44	7.31	4.73
Common Equity, 5 Yr. CAGR %	7.56	11.57	7.63	6.47	4.25
Total Equity, 5 Yr. CAGR %	7.42	11.37	7.51	6.38	4.2