MILAN, 08 FEB – Mps closed the 2022 financial year with a loss of 205 million euros, compared to the profit of 310 million recorded in 2021. The accounts, according to a note, were weighed down by 925 million costs restructuring linked to the redundancy incentive plan, net of which the year would have closed with a profit of 720 million. The fourth quarter recorded profits of 156 million, more than double the 75 million expected by analysts, “confirming – explains Mps – the bank’s ability to generate sustainable profitability”. The result, which also discounts 180 million in contributions to the Fitd and the Single Resolution Fund, instead benefited for 425 million from the revaluation of deferred tax assets (dta), in the light of the improvement in the bank’s income prospects. In 2022 MPS recorded revenues of 3,088 million, up 3.6% on 2021, thanks to the 26% jump in the interest margin, driven by the rise in interest rates, which offset the drop in commissions (-8%), penalized by market volatility. Operating expenses decreased to 2,099 million (-2.3%), allowing the gross operating result to rise from 874 to 989 million (+13.2%), with a contribution of 333 million in the last quarter, up by over 60% both compared to the previous quarter and compared to the fourth quarter of 2021. Losses on loans, on the other hand, rose from 250 in 2021 to 417 million, due to the lack of 130 million in writebacks in 2021. The fully loaded Cet 1 ratio, the main indicator of capital solidity, rose from 11% to 15.6%, thanks not only to “the capital increase” from 2.5 billion but also “to the reduction in RWA (weighted assets for risk, ed) and the profit generated” by the bank. Non-performing loans decreased by 20% to 3.3 billion euro, with the incidence of net ones down from 2.6 to 2.2%. (HANDLE).
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