Banca Monte dei Paschi Reports Strong Profit Growth

Banca Monte dei Paschi di Siena SPA (IT:BMPS) has released an update.

Banca Monte dei Paschi di Siena reported a net profit of EUR 1,566 million as of September 2024, marking a 68.6% year-on-year increase, driven by strong pre-tax earnings. The bank’s capital generation and operating performance showed solid growth, with a significant rise in revenues and improved CET1 ratio, well above regulatory requirements. The financial results were bolstered by higher net interest income and fee income, reflecting the bank’s effective strategy and market positioning.

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