Banco Bpm Spa · MIL:BAMI

Banco Bpm Spa — Banco Bpm Societa Ord — FY 2020 Earnings Presentation

52 slides from Banco Bpm Spa's earnings presentation, Feb 9, 2021

  1. Slide 1: FY 2020 Group Results Presentation

    FY 2020 Group Results Presentation 9 February 2021

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation has been prepared by Banco BPM ("Banco BPM"); for the purposes of this notice, "presentation" means this document, any oral presentation, any question and answer session and any written or oral material discussed following the distribution of this document. The distribut

  3. Slide 3: Methodological Notes

    METHODOLOGICAL NOTES  Before 31/03/2020, the impact of the PPA (Purchase Price Allocation) of the business combinations of the former Banca Popolare di Milano Group and of the former Banca Popolare Italiana, was split and registered under the following items: “Net interest income”, “Other net opera

  4. Slide 4: Agenda

    Agenda 1. Key Achievement Highlights 4 2. FY 2020 Performance Details: 30 - Profitability 31 - Balance Sheet 37 - Funding and Liquidity 38 - Customer Loans and Focus on Credit Quality 44 - Capital Position 51 FY 2020 Group Results Presentation 4

  5. Slide 5: Strong Performance in a Very Challenging Environment

    STRONG PERFORMANCE IN A VERY CHALLENGING ENVIRONMENT SAFE ASSET QUALITY BACK TO PRE-COVID COMMERCIAL FLEXIBLE BUSINESS MODEL THROUGH EFFECTIVE STRENGTH, LEVERAGING ALSO ALLOWING EFFECTIVE COST MGMT. CREDIT MANAGEMENT INITIATIVES ON DIGITAL BANKING (OPERATING COSTS: -€174M Y/Y) SOLID REBOUND IN H2 20

  6. Slide 6: Strong Track Record in Derisking and Capital Generation

    STRONG TRACK RECORD IN DERISKING AND CAPITAL GENERATION CET 1 AT TOP AND NPE STOCK AT BOTTOM € bn 35,0 11,9% 13,0% 1 13.3% 2 14,0% 11,4% 30,0 10,0% 12,0% 25,0 10,0% 20,0 8,0% 15,0 30,0 25,4 6,0% 10,0 4,0% 5,0 11,8 10,1 8,6 2,0% 0,0 0,0% 2016 2017 2018 2019 2020 CET1 Buffer vs. Min. Req. (Fully Loade

  7. Slide 7: Strengthened Credit Profile and Conservative Provisioning

    STRENGTHENED CREDIT PROFILE AND CONSERVATIVE PROVISIONING INITIATIVE FOCUS RESULTS ACHIEVED IN 2020 New lending at €27.6bn, including €10.2bn assisted by State SUSTAIN guarantees Credit management initiatives and provisioning policy THE ECONOMY €3.7bn new loans assisted by State guarantees in pipeli

  8. Slide 8: Proactive Moratoria Management

    PROACTIVE MORATORIA MANAGEMENT TOTAL MORATORIA LOANS -24%, WITH MARGINAL DEFAULT Composition of loans under Moratoria by rating classes RATE OF EXPIRED POSITIONS 80% € bn 16.1 -3.0 12% 8% (GBV) -0.9 3,5 12.2 Low-Medium risk Mid-High risk High risk ABI 2,3 o/w: Exposure to Default rate: 0.5% selected

  9. Slide 9: FY 2020 Performance: Key Messages (1/2)

    FY 2020 PERFORMANCE: KEY MESSAGES (1/2) Significant achievements in an adverse environment still impacted by Covid-19 Asset quality Solid liquidity Sound capital improvement and funding position and buffers Gross NPE ratio CET1 ratio FL LCR ratio 2019 2020 2019 2020 191% 9.1% 7.5% 13.0% 13.3% SOLID

  10. Slide 10: FY 2020 Performance: Key Messages (2/2)

    FY 2020 PERFORMANCE: KEY MESSAGES (2/2) Significant achievements in an adverse environment still impacted by Covid-19 Commercial Operating performance Cost savings performance Net Interest Income “Core” Net Perf. Loans Savings achieved in 2020 +7.9% H/H +8.0% Y/Y -€174m Y/Y STRONG REBOUND IN Further

  11. Slide 11: Acceleration in Digital Banking Strongly Supports Commercial Activity

    ACCELERATION IN DIGITAL BANKING STRONGLY SUPPORTS COMMERCIAL ACTIVITY1 Mobile transactions2 App users Executed investment orders #m +61.4% #m +26.6% #m +21.0% 15,9 1,3 9,9 1,0 3,0 2,5 DIGITAL BANKING: FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 KEY DRIVER FOR COMMERCIAL Online transactions Digit

  12. Slide 12: Digital Transformation Speed-Up

    DIGITAL TRANSFORMATION SPEED-UP  Set up of over 20 omnichannel data-driven Customer Journeys on main commercial areas, OMNICHANNEL leveraging on Advanced Analytics capabilities MARKETING INTELLIGENCE  About 10 million remote/digital customer interactions supporting RM’s commercial activities, driv

  13. Slide 13: ESG: Main Achievements in 2020

    ESG: MAIN ACHIEVEMENTS IN 2020 PROGRESS IN THE FULL INTEGRATION OF ESG GUIDELINES, VALUES AND METRICS INTO THE GROUP’S BUSINESS MODEL  ESG Committee, headed by CEO, to coordinate and control ESG activities ESG Strategy &  Board oversight allocated to the Risk and Control Committee Governance  Exe

  14. Slide 14: Key P&L Highlights: Resilient Performance

    KEY P&L HIGHLIGHTS: RESILIENT PERFORMANCE  RESILIENT PPI (-1.4% Y/Y), MAINLY THANKS TO OPERATING COST REDUCTION (-6.7% Y/Y), HAS ALLOWED TO SUSTAIN: - New impulse to NPE disposals - €1.3bn delivered in 2020 (portfolio & single name) - Future de-risking enabled by strengthened coverage - Frontloadin

  15. Slide 15: Core Revenue Growth in H2 2020

    CORE REVENUE GROWTH IN H2 2020 STRONG REBOUND IN H2 2020… …WITH NO MATERIAL EFFECT FROM COVID-19 SECOND WAVE €m €m +5.9% 1,875.8 -6.4% +9.5% +0.1% 1,770.6 +3.7% 846,9 914.7 937.6 938.2 816,9 885.9 440,6 376,4 417,7 429,2 +7.9% 1.028,9 953,6 519,9 474,1 479,5 509,0 H1 20 H2 20 Q1 20 Q2 20 Q3 20 Q4 20

  16. Slide 16: Net Interest Income: Rebound in H2 2020

    NET INTEREST INCOME: REBOUND IN H2 2020 Half-yearly trend Quarterly trend NII Evolution Bridge €m +7.9% €m €m -2.1% 1.028,9 953,6 479.5 519.9 509,0 519,9 +0.2 +1.6 509,0 474.1 -6.1 -6.5 Q1 20 Q2 20 Q3 20 Q4 20 Q3 20 Comm. NPE TLTRO Non Q4 20 H1 20 H2 20 banking contrib. Interest Comm. NPE contributi

  17. Slide 17: Net Fees: Strong Reaction to Covid in H2

    NET FEES: STRONG REACTION TO COVID IN H2 Half-yearly trend Quarterly trend Q4 monthly trend €m +3.7% €m €m 846.9 +2.8% 816.9 389,9 397,9 440.6 417.7 429.2 150.3 376.4 142.3 136.6 220.2 169.8 197.3 200,6 66,8 68,3 427,0 449,0 65,5 220.4 206.6 220.3 228,6 75,5 71,1 82,0 H1 2020 H2 2020 Q1 20 Q2 20 Q3

  18. Slide 18: Commercial Activities Back on Track

    COMMERCIAL ACTIVITIES BACK ON TRACK Stronger response to Covid-19 second wave € bn Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 INV. PRODUCT PLACEMENTS1 3.7 2.4 3.2 3.6 13.0 NEW LENDING2 5.5 6.9 7.9 7.3 27.6 o/w: Covid-19 Measures guaranteed by the State 1.9 5.2 3.1 10.2 INVESTMENT PRODUCT PLACEMENTS Upd

  19. Slide 19: New Lending: Fostered by State-Guaranteed Measures

    NEW LENDING: FOSTERED BY STATE-GUARANTEED MEASURES… €27.6BN NEW LOANS IN FY 20201, O/W €10.2BN HIGHER ASSET SPREADS ON INFLOWS VS OUTFLOWS COVID-19 MEASURES GUARANTEED BY THE STATE IN H2 VS. H1 € bn +29.2% 27.6 Ordinary business Net gain -17bps +9bps 37% Covid-19 Measures Households 21.4 3,3 63% 1.6

  20. Slide 20: Enhancing Portfolio Quality

    …ENHANCING PORTFOLIO QUALITY WIDE ROOM TO FURTHER INCREASE PRUDENT & SAFE LENDING POLICY STATE-GUARANTEED LOANS FY 2020 new lending by risk categories up to €5bn o/w: €1bn already 39% 35% provided in Jan. 2021 29% 26% 33% 26% €3.7bn 6% 5% 1% 2% Low Medium-Low Medium Medium-High High In progress Prel

  21. Slide 21: Growth in Volumes: Effective Support to Customers and Economy

    GROWTH IN VOLUMES: EFFECTIVE SUPPORT TO CUSTOMERS AND TO THE ECONOMY CORE NET PERFORMING LOANS C.A. & DEPOSITS € bn € bn 96,5 98,4 96,5 100,0 91,1 +8.0% Y/Y +13.9% Y/Y 87,8 +1.9% in Q4 Jan. 2021 +3.6% in Q4  Loan growth confirmed (+0.6%)  Stable Deposits 31/12/19 30/09/20 31/12/20 31/12/19 30/09/2

  22. Slide 22: Operating Costs: -€630M Since the Merger

    OPERATING COSTS: -€630M SINCE THE MERGER OPERATING COSTS DOWN 6.7% Y/Y BEST COST RESULT EVER ACHIEVED 2016-2020 €m €m 2,604 -6.7% 3.060 3.018 Includes savings 2,430 1 2.782 2.604 2.430 from lower variable Staff costs remuneration and 1.697 1.581 other savings due Other to the Pandemic 908 849 crisis

  23. Slide 23: NPE: Stock Reduction with Reinforced Coverage

    NPE: STOCK REDUCTION WITH REINFORCED COVERAGE NPE Stock (GBV) NPE Stock evolution in 2020 (GBV) € bn 10.1 -14.9% Y/Y € bn 9.8 10.1 +1.0 -1.4 8.6 -1.1 PD 0,10 0,10 0,06 -12.3% in Q4 8.6 UTP 6,42 6,08 4,95 Bad Loans 3,56 3,61 3,58 31/12/19 30/09/20 31/12/20 -22.6% Y/Y 31/12/19 Inflows from Cancellatio

  24. Slide 24: NPE Ratios and Cost of Risk Trend

    NPE RATIOS AND COST OF RISK TREND MATERIAL AND ONGOING IMPROVEMENT IN NPE RATIOS SINCE THE MERGER 24,1% Gross NPE ratio 21,1% (EBA definition) Gross 14,7% 12,1% 10,8% 6,5% 9,1% 8.6% 7,5% 5,2% 4.7% 6.7% Net 3,9% 01/01/17 1 31/12/17 31/12/18 31/12/19 30/09/20 31/12/20 TEXAS RATIO2 160.3% 122.9% 74.9%

  25. Slide 25: Solid Balance Sheet Position

    SOLID BALANCE SHEET POSITION UNENCUMBERED LCR1 NSFR1 ELIGIBLE SECURITIES TLTRO III 191% >100% €20bn €27.5bn LIQUIDITY & BONDS € bn 0,75 0,50 0,40 FUNDING OUTSTANDING Successful 0,35 0,40 issuance activity Jan-20 Feb-20 Sep-20 Dec-20 Jan-21 €19.0bn in 2020 and in Jan. 2021 Senior Non Pref. AT1 Tier 2

  26. Slide 26: Focus on Govies Portfolio

    FOCUS ON GOVIES PORTFOLIO Italian Govies at AC Italian Govies at FVOCI Italian Govies at FVTPL € bn +36.2% € bn -7.5% € bn +58.2% -7.6% 13,6 -30.9% 10,0 14,8 -52.7% 4,6 6,2 3,0 4,3 0,9 1,4 31/12/19 30/09/20 31/12/20 31/12/19 30/09/20 31/12/20 31/12/19 30/09/20 31/12/20 Duration1 2.9 2.3 Duration1 1.

  27. Slide 27: Capital Adequacy: Solid Position and Buffers

    CAPITAL ADEQUACY: SOLID POSITION AND BUFFERS Ratios well above minimum requirements % Evolution of Fully Loaded Capital Ratios Phased-In TOTAL 15.8% 17.8% 17.2% 17.4% 17.2% 18.8% Mainly due to LLPs and restructuring costs TIER1 13.5% 15.2% 14.7% 14.5% 14.3% 15.8% 13,0 14,1 -48bps 13,6 -34bps +12bps

  28. Slide 28: Strong Performance in a Very Challenging Environment

    STRONG PERFORMANCE IN A VERY CHALLENGING ENVIRONMENT SIGNIFICANT REBOUND IN OPERATING PERFORMANCE… Growth in «Core» revenues (+5.9% H/H) Reduction in costs (-5.4% H/H) Significant increase in Pre-Provision income (+43.5% H/H) …ALLOWING A FURTHER IMPROVEMENT IN ASSET QUALITY METRICS AND… SIGNIFICANT

  29. Slide 29: 2021 Outlook

    2021 OUTLOOK Solid performance achieved in 2020, highly confident for 2021  NII increase thanks to the positive contribution from the TLTRO III, together with lending growth, mainly supported by State-guaranteed loans  Commission growth to be driven by commercial banking and asset management busin

  30. Slide 30: Agenda

    Agenda 1. Key Achievement Highlights 4 2. FY 2020 Performance Details: 30 - Profitability 31 - Balance Sheet 37 - Funding and Liquidity 38 - Customer Loans and Focus on Credit Quality 44 - Capital Position 51 FY 2020 Group Results Presentation 30

  31. Slide 31: FY 2020 Quarterly P&L Results

    FY 2020 QUARTERLY P&L RESULTS Reclassified income statement (€m) Q1 19 Q1 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Net interest income 499.2 512.1 495.8 474.0 474.1 479.5 519.9 509.0 Income (loss) from invest. in associates carried at equity 36.8 32.6 28.0 33.9 22.3 48.0 36.8 23.7 Net interest, divide

  32. Slide 32: P&L: Annual Comparison Stated and Adjusted

    P&L: ANNUAL COMPARISON STATED AND ADJUSTED Chg. Y/Y FY 2019 FY 2020 Chg. Y/Y Reclassified income statement ( €m) FY 2019 FY 2020 Chg. Y/Y % adjusted adjusted Chg. Y/Y % Net interest income 1,981.1 1,982.6 1.5 0.1% 1,976.4 1,982.6 6.2 0.3% Income (loss) from investments in associates carried at equit

  33. Slide 33: Adjusted P&L: Details on Non-Recurring Items

    ADJUSTED P&L: DETAILS ON NON-RECURRING ITEMS FY 2020 Reclassified income statement ( €m) FY 2020 One-off Non-recurring items and extraordinary systemic charges adjusted Net interest income 1,982.6 1,982.6 0.0 Income (loss) from investments in associates carried at equity 130.8 130.8 0.0 Net interest

  34. Slide 34: Financial Portfolio: Net Financial Result and Reserves

    FINANCIAL PORTFOLIO: NET FINANCIAL RESULT AND RESERVES/UNREALISED GAINS Net Financial Result (excl. FV on Own Liabilities1) €m 157,3  NFR at €77.8m in Q4 vs €157.3m in Q3 which was 82.7 77.8 impacted by the positive valuation effect on the SIA stake (+€147m) 0.8 Q1 20 Q2 20 Q3 20 Q4 20 Reserves of

  35. Slide 35: Operating Costs: Quarterly Comparison

    OPERATING COSTS: QUARTERLY COMPARISON Total Operating Costs €m -3.1% 635,0 613,8 581,5 599,8 Q1 20 Q2 20 Q3 20 Q4 20 o/w: Staff costs o/w: Other admin. costs o/w: D&A €m €m €m +14.1% -21.6% +3.8% 419,0 397,9 407,2 357,0 154,6 154,1 159,8 125,3 61,4 61,7 64,8 67,2 Q1 20 Q2 20 Q3 20 Q4 20 Q1 20 Q2 20

  36. Slide 36: Comprehensive Profitability

    COMPREHENSIVE PROFITABILITY €m Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2019 FY 2020 P&L NET INCOME 151.6 -46.4 157.3 -241.7 797.0 20.9 OTHER NET INCOME DIRECTLY ACCOUNTED TO EQUITY -289.7 151.1 76.7 24.3 526.7 -37.6 o/w Reserves of Debt Securities at FVOCI (net of tax) -180.1 154.3 89.5 21.2 178.8 85.0 o

  37. Slide 37: Reclassified Balance Sheet as at 31/12/2020

    RECLASSIFIED BALANCE SHEET AS AT 31/12/2020 Chg. y/y Chg. in Q4 Reclassified assets (€ m) 31/12/19 30/09/20 31/12/20 Value % Value % Cash and cash equivalents 913 806 8.858 7.945 N.M. 8.052 N.M. Loans and advances measured at AC 115.890 125.680 120.456 4.566 3,9% -5.224 -4,2% - Loans and advances to

  38. Slide 38: Direct Funding

    DIRECT FUNDING Solid position confirmed in Core funding Direct customer funding1 (without Repos) € bn +10.3% +2.3% 108.9 117.4 120.1 Capital-protected Certificates 3,3 1,8 3,7 3,2 1,7 14,7 1,8 15,9 Other 16,1 1,6 1,5 1,6 Bonds Time deposits 94,8 98,5 +€12.3bn Y/Y 86,2 C/A & Sight deposits (79.1%) (8

  39. Slide 39: Bonds Outstanding: Well Diversified Portfolio

    BONDS OUTSTANDING: WELL DIVERSIFIED PORTFOLIO Bonds Outstanding as at 31/12/2020  Total bonds outstanding at €19.0bn Nominal 19,5%Cap.-Protected  Successful issuance activity in 2020: AT1 in Jan. (€400m), Senior amounts Certificates Non-Preferred in Feb. (€750m) and T2 in Sep. and Dec. (€500m Cove

  40. Slide 40: Bond Maturities: Limited and Manageable Amounts

    BOND MATURITIES: LIMITED AND MANAGEABLE AMOUNTS Institutional bond maturities Retail bond maturities € bn 3.75 € bn 2.43 2,50 1.91 0,45 0,77 1,40 0.50 1,21 1,25 0.01 0.0 0,51 FY 2021 FY 2022 FY 2023 FY 2021 FY 2022 FY 2023 1 Senior Pref. Subordinated 1 Covered Bonds 2 Senior Pref. Subordinated Aggre

  41. Slide 41: Securities: Increased Weight of the AC Portfolio

    SECURITIES: INCREASED WEIGHT OF THE AC PORTFOLIO € bn 31/12/19 30/09/20 31/12/20 Chg. y/y Chg. in Q4 Debt securities 31.2 39.9 33.9 8.4% -15.1% Equity securities, Open-end funds & Private equity 2.5 1.9 2.4 -5.7% 27.8% TOTAL SECURITIES 33.8 41.8 36.3 7.3% -13.2% Focus on Debt Securities: Evolution &

  42. Slide 42: Solid Liquidity Position: LCR at 191% & NSFR >100%

    SOLID LIQUIDITY POSITION: LCR AT 191% & NSFR >100%1 Eligible Assets2 € bn Up at ~€21bn as at 05 Feb. 2021 Unencumbered 64.0 58.2 54.0 Encumbered with Repos & other 22,1 ADDITIONAL UNENCUMBERED LIQUID ASSETS 19,9 Other encumbered with ECB 19,9  €6.8bn Excess ECB deposits (€6.3bn avg. in Q4) 15,3 10,

  43. Slide 43: Indirect Customer Funding at €91.6bn

    INDIRECT CUSTOMER FUNDING AT €91.6BN Assets under Management (AUM) Assets under Custody (AUC)1 € bn +2.2% € bn +3.0% 58.3 58.0 59.6 +1.8% 3,9 3,9 4,0 15,4 14,8 14,8 +5.2% 40,8 31,4 30,4 32,0 39,0 39,0 31/12/2019 30/09/2020 31/12/2020 31/12/2019 30/09/2020 31/12/2020 Funds & Sicav Bancassurance Manag

  44. Slide 44: Net Customer Loans

    NET CUSTOMER LOANS Satisfactory increase in Performing Loans, with new loans granted at €27.6bn in 20201 Net Customer Loans2 € bn 105.8 108.7 109.3 5,5 5,1 4,3 -22.6% Y/Y NPE 100,3 103,6 105,0 +4.7% Y/Y Performing Loans 31/12/2019 30/09/2020 31/12/2020 CHANGE NET PERFORMING LOANS 31/12/19 30/09/20 3

  45. Slide 45: Analysis of Performing Loan Portfolio

    ANALYSIS OF PERFORMING LOAN PORTFOLIO Staging evolution: Customer loan (GBV) breakdown as at 31/12/20201 Performing Loans in 2020 Other (Public Sector, GBV in € bn GACS Senior Notes No-Profit, etc.) 2,2% 10% represented by State- 100.6 104.1 105.5 4,6% guaranteed loans 5.9% 6.6% 6.8% Financials (ave

  46. Slide 46: Covid-19: Key Measures at a Glance

    COVID-19: KEY MEASURES AT A GLANCE Lending measures assisted by public guarantees High customer propensity for new at €13.9bn as at 31/12/20 State-guaranteed lending € bn Lending measures assisted by 1.5 12.0 13.9 0,1 public guarantees: System data1 12.4 3,7 1,4 3,6 4,9 BBPM share 10,2 ~€140 10% 7,1

  47. Slide 47: Asset Quality Details – Loans to Customers at AC

    ASSET QUALITY DETAILS – LOANS TO CUSTOMERS AT AC GROSS EXPOSURES 31/12/2019 30/09/2020 31/12/2020 Chg. y/y Chg. in Q4 €/m and % Value % Value % Bad Loans 3.565 3.615 3.578 14 0,4% -36 -1,0% UTP 6.424 6.076 4.946 -1.478 -23,0% -1.130 -18,6% Past Due 98 100 62 -36 -37,0% -38 -38,1% NPE 10.087 9.791 8.

  48. Slide 48: NPE Flows

    NPE FLOWS Inflows from Performing to NPEs Outflows from NPEs to Perf. Loans Flows from UTP to Bad Loans €m €m €m 1.169 864 978 308 257 411 483 261 153 224 178 81 43 55 44 111 110 83 FY 19 FY 20 Q1 Q2 Q3 Q4 FY 19 FY 20 Q1 Q2 Q3 Q4 FY 19 FY 20 Q1 Q2 Q3 Q4 20 20 20 20 20 20 20 20 20 20 20 20  2020 sho

  49. Slide 49: Improving Trend in Asset Quality

    IMPROVING TREND IN ASSET QUALITY Gross NPEs: -€21.4bn vs. YE 2016, o/w: -€1.7bn in 2019 and -€1.5bn in 2020 € bn 30,0 +0.1bn in January 2021 due to impact from New DoD FTA 11.8 +1.2 -2.3 +1.0 -1.4 -0.6 10.1 -1.1 8.6 31/12/18 Inflows from Cancellations, L-ACE Project 31/12/19 Inflows from Cancellatio

  50. Slide 50: UTP Loans: High Share of Restructured & Secured Positions

    UTP LOANS: HIGH SHARE OF RESTRUCTURED & SECURED POSITIONS UTP analysis Breakdown of Net UTPs € bn -23.0% Y/Y Unsecured € bn 31/12/19 31/12/20 % Chg. 6.4 Secured Forborne 2,4 1,8 -26,5% (%) Composition 2,5 4.9 - Secured 1,3 1,3 5,6% (39%) - Unsecured 1,2 0,5 -57,3% 2,1 2,2 (42%) 2,8 Other UTP 1,5 1,0

  51. Slide 51: Capital Position in Detail

    CAPITAL POSITION IN DETAIL PHASED IN CAPITAL 31/12/19 30/06/20 30/09/20 31/12/20 RWA COMPOSITION POSITION (€/m and %) 31/12/19 30/06/20 30/09/20 31/12/20 (€/bn) CET 1 Capital 9,723 9,585 9,785 9,597 T1 Capital 10,155 10,388 10,589 10,397 CREDI T & COUNTERPARTY 57.7 56.9 55.0 54.9 Total Capital 11,68

  52. Slide 52: Contacts for Investors and Financial Analysts

    CONTACTS FOR INVESTORS AND FINANCIAL ANALYSTS INVESTOR RELATIONS Roberto Peronaglio +39-02-9477.2090 Tom Lucassen +39-045-867.5537 Arne Riscassi +39-02-9477.2091 Silvia Leoni +39-045-867.5613 Carmine Padulese +39-02-9477.2092 Registered Offices: Piazza Meda 4, I-20121 Milan, Italy Corporate Offices:

Banco Bpm Societa Ord — FY 2020 Earnings Presentation on 6ix