Piero Luigi Montani, CEO of Bper Banca
Bper, Montani (Ceo): “We are facing new challenges that the Bper group will be able to tackle effectively”
Bperthe bank led by Piero Luigi Montaniarchive the first quarter of the year bringing home a useful beyond expectations a 112.7 million. In 2021 the amount had been 400.3 million. The result is though higher than the consensus of the market which estimated a net profit of 74 million. Last year’s profit was affected by negative goodwill, the so-called badwilllinked to the acquisition of Ubi branches as part of the takeover bid for Intesa Sanpaolonet of non-recurring items, the figure for 2021 stood at approximately 105.5 million.
In the first three months of 2022, the interest margin it stood at 376.4 million (+ 9.6%), with net commissions at 450.6 million (+ 37.3%). The operating expenses they amounted to 558.4 million compared to 546.5 million. Net adjustments for credit risk amounted to 113.2 million compared to 418.8 million. The cost of credit annualized therefore stands at 57 basis points, down compared to the ordinary figure recorded in the 2021 financial year of 67 basis points.
The net provisions provisions for risks and charges amounted to € 12.2 million (-70.2%) and include € 5.0 million relating to off-balance sheet exposures (endorsement credits) to counterparties based in Russia. Cet1 proforma is at 13.64%, up from 13.50% at the end of 2021.
Montani: “Profitability is growing, we will be stronger with the new Plan”
The first quarter results of Bper “They showed strong growth in profitability”, underlined the CEO of Bper, Piero Luigi Montanidespite the war in Ukraine. This scenario is “further aggravated by growing inflationary pressures, which risk having a heavy impact on the national production fabric and household consumption”, remarked the CEO.
“The improvement credit quality achieved in 2021, Montani continued, was also confirmed in the first quarter of this year, in particular with reference to the Npe ratio which stood at 4.9% gross (2.0% net) unchanged to compared to the end of 2021 and the degree of coverage of impaired loans equal to 60.6% “.
As for the future, “the current market context, characterized by high uncertainty and growing inflationary pressures, presents us with new challenges, which the group Bper will be able to deal effectively with the progress made in terms of revenue generation solid capital position and of liquid assets and the significant improvements achieved in the area of credit quality “and” these aspects will also be further strengthened with the actions and measures envisaged by new business plan which will be presented to the market during the month of June “.
Bper, Montani: “We await the OK from the ECB on Carige on schedule”
While on Carige, Montani during the conference call with analysts, he specified that the transaction “should not have an impact on Bper’s capital, this is our goal and we have no reason to think otherwise”. “Further details, the CEO repeated several times, will come as part of the capital increase”. As for the timing of the acquisition, “we hope that the ECB’s authorization will arrive on schedule, so that when we come out with the industrial planwe will be able to be more precise also in this direction “.
Bper Banca expects revenues to grow in 2022 “despite the uncertain scenario”
Looking to the future, “while taking into account the strong uncertainty that characterizes the macro scenario and barring significant worsening of the geopolitical framework, revenues up compared to last year thanks to the strengthening of the competitive position ”, reads the note from Bper in the margin of the accounts.
“The commission component should benefit from a financing activity to customers expected to increase, also driven by the investments envisaged by the PNRR. On the cost front, the efficiency and rationalization actions will continue aimed at containing on the one hand the inflationary impacts and on the other the costs for the investments that will be foreseen by the new business plan”, Concludes the note.
