BPER reported a 29.5% profit in the first half of 2025, reaching €903.5 million.

As of June 30, 2025, BPER's consolidated net profit amounted to €903.5 million, up 29.5%, the highest half-year result ever recorded. The high credit quality is confirmed, with the NPE ratio standing at 2.5% gross (1.1% net), placing the group among the best in the Italian banking system. The annualized cost of credit decreased to 31 basis points (-10 basis points h/h). The coverage ratio for non-performing loans, among the best in Italy, increased to 55.6% compared to the end of March 2025. The bank's capital profile remains very solid, with a CET1 ratio of 16.2%, thanks to organic capital generation of €1.1 billion (approximately 200 basis points) in the first half of 2025. The liquidity position remains strong, with regulatory ratios well above the minimum thresholds. Bper's net interest income for the first half of the year stood at €1,626.0 million, down 3.4% compared to June 30, 2024, amid accelerated interest rate reductions. Compared to the first quarter of 2025, growth in the second quarter was 0.3%, thanks to positive commercial volumes (+€13.5 million q/q), which more than offset the impact of lower interest rates (-€13.1 million q/q). The increase in the non-commercial component was €1.9 million q/q. Net commissions increased to €1,063.5 million (+4.8% h/h), thanks to commissions from investment services amounting to €465.5 million (+9.2% h/h), commissions from the property and casualty insurance segment amounting to €57.8 million (+15.8% h/h), and commissions from traditional banking activities amounting to €540.2 million (+0.3% h/h). Dividends amounted to €43.0 million (+16.0% h/h), of which €11.1 million attributable to the investment in the Bank of Italy and €21.9 million in Arca Vita. Net income from finance was positive at €34.9 million. Total net operating income amounted to €2,852.0 million (+3.4% h/h). Operating expenses amounted to €1,328.1 million (-4.9% h/h).

In detail, personnel expenses amounted to €822.9 million (-7.2% h/h), mainly due to staff turnover; other administrative expenses decreased to €354.4 million (-6.1% h/h); net impairment losses on tangible and intangible assets amounted to €150.8 million. The cost/income ratio at June 30, 2025, decreased to 46.6% on a half-year basis; in particular, in the second quarter of 2025, it further decreased qoq to 46.4%. The annualized cost of credit stood at 31 basis points (-10 basis points h/h), with impairment losses on assets at amortized cost relating to customer loans amounting to €142.8 million (-21.1% h/h). Total cumulative overlays at June 30, 2025, amounted to €213.8 million. Investment income amounted to €2.2 million. After deducting income taxes of €448.6 million and minority interest in profit for the period of €16.6 million, the parent company's share of profit for the period was €903.5 million, the best result ever, thanks in part to the contribution of the second quarter's profit, the highest ever.

In the first half of 2020, BPER's total financial assets amounted to €312.3 billion, up 4.5% year-over-year. Direct customer deposits amounted to €120.8 billion, up €3.3 billion year-over-year. Assets under management grew to €74.1 billion (up 8.0% year-over-year); assets under administration amounted to €96.0 billion (up 5.1% year-over-year); and life insurance policies amounted to €21.3 billion (up 0.7% year-over-year). Net customer loans amounted to €92.7 billion (up 4.2% year-over-year), up thanks to development efforts across the entire BPER network. The loan-to-deposit ratio stood at 76.7% (compared to 76.3% at the end of March 2025).

Regarding credit quality, the ratio of non-performing loans to customers improved year over year, both at gross (gross NPE ratio) to 2.5% and at net (net NPE ratio) to 1.1%. The coverage ratio for total non-performing loans increased quarterly to 55.6%, one of the highest levels in Italy, primarily due to the increase in coverage for UTPs; coverage for performing loans is 0.63%, and coverage for exposures classified as Stage 2 is 4.9%. Financial assets total €32.0 billion (22.2% of total assets). Within the aggregate, debt securities amount to €29.9 billion (93.4% of the total portfolio) with a duration including hedges of 2.1 years and include €20.4 billion in government bonds and bonds issued by other supranational entities, of which €14.8 billion in Italian government bonds (up 66.7% year-over-year). Total equity amounts to €11.6 billion, with minority interests amounting to €0.2 billion. The group's consolidated net equity, which includes the result for the period, therefore stands at €11.4 billion. With regard to the liquidity position, the LCR ratio is 163% (166% at the end of March 2025) while the NSFR ratio is 135% (134% at the end of March 2025).

"In light of the second quarter performance, the bank has upgraded its standalone guidance for FY 2025 for Total Revenues, Cost/Income and CET1 Ratio."