MPS's profit fell to €892 million in the first half of the year. A takeover bid for Mediobanca? The goal is "to create a new competitive force, a leading player in the sector."

In the first half of the year, Monte dei Paschi di Siena reported a profit of €892 million, down 23% from the first six months of the previous year (€1,159.2 million), and total revenues of €2,054 million, up 1.1% compared to the same period of 2024. Profit for the second quarter, however, increased to €479 million compared to the previous quarter (€413 million).

Net interest income as of June 30, 2025, amounted to €1,094 million , down 6.7% from the same period of 2024 (or €78.1 million). Net commissions as of June 30, 2025, amounted to €803 million, up 9.1% from the same period of the previous year (or €66.7 million). Dividends, similar income, and gains (losses) on equity investments amounted to €42 million, up €1.4 million from June 30, 2024.

As of June 30, the fully loaded CET1 capital ratio stood at 19.6%, including profit for the period, the inclusion of which is subject to approval by the European Central Bank, and deducting dividends accrued during the half-year from capital, assuming a payout ratio of 75% of pre-tax profit. The fully loaded total capital ratio was 21.8%. The result of the half-year profit, the bank explains, is linked to the positive contribution of income taxes for the period (+€36 million), primarily attributable to the revaluation of DTAs, net of taxes related to the economic result for the half-year. The contribution as of June 30 last year, MPS notes, was €453 million and included the impact, on the revaluation of DTAs, of the updated group income projections derived from the 2024-2028 Business Plan. Net of these non-recurring items, the profit of €892 million is up 21.4% compared to the same period in 2024. As of June 30, MPS further reports, the MPS Group's total funding volumes amounted to €200.4 billion, an increase of €2.2 billion compared to March 31, 2025, thanks to growth in indirect funding (+€2.3 billion), while direct funding remained essentially stable. The aggregate also increased compared to December 31, 2024 (+€3.2 billion) thanks to growth in both indirect funding (+€2.7 billion) and direct funding (+€0.5 billion).

As of June 30, 2025, the Group's customer loans stood at €80.5 billion, up €1.9 billion compared to March 31, 2025. This growth was driven by mortgages (+€1.1 billion), other loans (+€0.6 billion), and, to a lesser extent, repurchase agreements (repurchase agreements +€0.2 billion). Current accounts and non-performing loans, however, remained essentially stable. Compared to December 31, 2024, the aggregate increased by €3.2 billion, primarily due to the growth in mortgages (+€2.5 billion). Other loans also increased by €0.5 billion, current accounts (+€0.2 billion), and repurchase agreements (+€0.2 billion), while non-performing loans decreased (-€0.1 billion).

MPS: The objective of the Mediobanca takeover bid is to create a new competitive force and a leading position in the sector.

With the takeover bid for Mediobanca, which began on July 14 and will close on September 8, "the goal is to create a new competitive force, among the leaders in the banking sector," by "creating sustainable value for all stakeholders" and providing "clear and solid shareholder remuneration." MPS reiterated this in its presentation of its first-half 2025 results.

MPS: Lovaglio, 'capable of ensuring growth, profitability, and strategic clarity'

"The results demonstrate the concrete ability to deliver high growth, profitability, and strategic clarity that is paying off for customers, employees, and shareholders," MPS CEO Luigi Lovaglio said during a conference call with analysts on the second-quarter and first-half results. The bank is building "a fortress, a solid balance sheet capable of creating opportunities for decades to come," he added.

MPS: Lovaglio, "Our commitment will also be appreciated by Mediobanca shareholders."

Monte dei Paschi di Siena confirms its "determination" in its Mediobanca acquisition, and "our commitment is endorsed by shareholders and the certainty that we will create sustainable and tangible value in the immediate future. This will also be appreciated by Mediobanca shareholders." This was stated by MPS CEO Luigi Lovaglio during a conference call with analysts on the second quarter and first half results.