(Finance) – The profit of around 1.5 billion euros expected by Banco BPM this year “gives us a lot of confidence” in the target of over 1.5 billion by 2026 and this level can represent “the prospect of sustainable long-term profitability starting from this year”. This was stated by CEO of BPM BankGiuseppe Castagnaduring the conference call on the bank’s half-year results. The increase in the 2024 profit forecast, from 0.9 to 0.95 euros, the 2023 dividend from 750 to 850 million and the 2024 interim dividend, from 550 to 600 million euros, open up the “possibility of exceeding the shareholder remuneration forecast by 4 billion euros” between 2023 and 2026.
Lots of money to make shareholders happy
“In the first part of 2025 we will give a better understanding of our strategy for the remuneration of shareholders” but thanks to the generation of capital and the profitability achieved “there is more money to make our shareholders happy”, Castagna added, responding in a conference call to an analyst who asked if the bank was thinking of introducing a share buyback.