Bper Banca S.p.a. · MIL:BPE
Bper Banca — Q2 2025 Earnings Presentation
37 slides from Bper Banca's earnings presentation, Aug 6, 2025
Slide 1: 2Q25 & 1H25 Results Presentation
2Q25 & 1H25 Results Presentation MILAN | AUGUST 6TH | 2025
Slide 2: Disclaimer
Disclaimer The content of this document has a merely informative and provisional nature and is not to be construed as providing investment advice. The statements contained herein have not been independently verified. No representation or warranty, either express or implied, is made as to, and no rel
Slide 3: Agenda
Agenda Update on BPSO Voluntary Public Ex. Offer Update on BPSO Voluntary Public Ex. Offer Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 3
Slide 4: Significant shareholders' acceptance rate underlines strong rationale of the business combination
Significant shareholders’ acceptance rate underlines strong rationale of the business combination … ▪ BPER completed the public tender and exchange offer within the planned timeframe ▪ BPER paid the following total considerations to BPSO shareholders in the context of the Offer, composed of: ~80.7%
Slide 5: Strengthening BPER position as a leading player in the Italian banking sector
… strengthening BPER position as a leading player in the Italian banking sector Consolidating BPER leading market positioning in Italy … … while accelerating BPER business growth Aggregated data as of Jun-‘25 Mkt Share in Italy(1) Ranking(2) Combined 2027E targets(3) TFA ~€410 bn ~6% 3rd Bank Net In
Slide 6: Progress update – Indicative timeline of the transaction
Progress update – Indicative timeline of the transaction Status 6 Feb. ‘25 BPER notice pursuant to Art. 102 CFA End of May / Release of all the Supervisory authorities’ prior authorizations Beginning of Jun. ’25 Approval of the Offer Document by CONSOB Authorization from AGCM subject to the disposal
Slide 7: Agenda
Agenda Update on BPSO Voluntary Public Ex. Offer Update on BPSO Voluntary Public Ex. Offer Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 7
Slide 8: Best ever 2Q Net Profit leading to record 1H Net Profit at €903 m
Best ever 2Q Net Profit leading to record 1H Net Profit at €903 m Key Financial Highlights Record first half Net Profit (1) up by 29.5% H/H at €903 m in 1H25 Total Revenues Net Profit(1) €2.9 bn €903 m +3.4% H/H +29.5% H/H Core Revenues stable H/H at €2.7 bn and improved Cost/Income ratio at 46.6% i
Slide 9: Record 1H Net Profit driven by higher Revenues and lower Operating Costs
Record 1H Net Profit driven by higher Revenues and lower Operating Costs P&L Key Figures (€m) Net Profit stated vs adjusted (€m) 1H25 H/H 2Q25 Q/Q Y/Y 413.9 412.9 442.9 460.5 382.5 388.5 290.7 309.3 296.3 Total Revenues 2,852.0 +3.4% 1,423.1 -0.4% +1.9% 264.1 Core Revenues o/w NII 1,626.0 -3.4% 814.
Slide 10: Guidance improved thanks to strong 1H25 results
Guidance improved thanks to strong 1H25 results FY25 Guidance vs FY24 FY24 1H25 BPER (stand alone) Improved vs ~€5.4 bn Total Revenues €5.6 bn €2.9 bn ~€5.5 bn provided in 1Q25 o.w. Net Inter. Income €3.4 bn €1.6 bn Down mid-single digit o.w. Net Comm. Income €2.1 bn €1.1 bn Up mid-single digit Op.
Slide 11: Agenda
Agenda Update on BPSO Voluntary Public Ex. Offer Update on BPSO Voluntary Public Ex. Offer Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 11
Slide 12: B:Dynamic | Full Value 2027 on track
“B:Dynamic | Full Value 2027” on track 100% Business Plan initiatives launched Pillar 1 Pillar 2 Pillar 3 KEY HIGHLIGHTS Pillar 1 Unleash our Capture our Leverage our ▪ Strong growth in new lending in the first half 2025 (+20.7% H/H) clients’ full- latent economies strong balance ▪ Continued solid p
Slide 13: Agenda
Agenda Update on BPSO Voluntary Public Ex. Offer Update on BPSO Voluntary Public Ex. Offer Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 13
Slide 14: Resilient performance in Core Revenues H/H
Resilient performance in Core Revenues H/H Total Revenues (quarterly) (€m) KEY HIGHLIGHTS 9.5% 9.6% 9.6% 9.5% 9.7% 9.8% 9.3% 9.2% 1,800.0 8.6% 8.8% 9.0% Total Revenues 1,600.0 1,462.9 1,396.9 1,445.6 1,428.9 1,423.1 Total Revenues 1,364.6 1,361.2 1,371.0 1,400.0 1,320.1 1,329.1 75.4 42.0 36.2 75.9 8
Slide 15: Commercial NII stable Q/Q despite the accelerated decline in the interest rates environment
Commercial NII stable Q/Q despite the accelerated decline in the interest rates environment NII (quarterly) (€m) KEY HIGHLIGHTS -2.9% Y/Y NII Net Interest Income 870.3 843.6 840.8 853.7 819.0 836.5 838.9 811.9 814.1 ▪ In 1H25 NII was down at €1.6 bn (-3.4% H/H) (€m) due to accelerated interest rates
Slide 16: Continued solid performance of Net Commission Income, up by 4.8% H/H
Continued solid performance of Net Commission Income, up by 4.8% H/H Net Commission Income(1) (quarterly) (€m) KEY HIGHLIGHTS +1.2% Y/Y Net Commission Income Net Commission Income ▪ In 1H25 Net Commission Income up at €1.1 bn 555.8 (€m) 517.2 516.0 541.1 522.4 496.2 479.6 476.3 498.7 487.9 31.1 (+4.
Slide 17: Strong increase in TFA at €312.3 bn in 2Q25, up by €14 bn Y/Y
Strong increase in TFA at €312.3 bn in 2Q25, up by €14 bn Y/Y TFA (€bn) KEY HIGHLIGHTS +4.5% Y/Y Deposits 290.3 298.1 298.7 303.5 306.3 303.0 312.3 ▪ Deposits increased by €3.4 bn over the quarter 282.1 281.1 284.2 21.4 21.2 21.1 21.0 21.2 21.3 at €120.8 bn, thanks to BPER strength to attract 23.8 2
Slide 18: Cost/Income improved at 46.6% in 1H25 confirming the strong focus on operational efficiency
Cost/Income improved at 46.6% in 1H25 confirming the strong focus on operational efficiency Cost/Income(1) & Total Costs (quarterly) (€m) KEY HIGHLIGHTS Total Costs (€m) -6.5% Y/Y Total Costs -4.9% ▪ In 1H25, Total Costs at €1.3 bn with a lower 53.0% 52.7% Cost/Income Ratio of 46.6% showing a strong
Slide 19: Sound CoR at 31bps in 1H25. NPE coverage ratio improved at 5.6% in 2Q25
Sound CoR at 31bps in 1H25. NPE coverage ratio improved at 55.6% in 2Q25, among the best in Italy LLPs (€m) and CoR(1) (quarterly) (bps) KEY HIGHLIGHTS LLPs (€m) 160.0 63 58 - 8bps Y/Y 65 Cost of Risk (CoR) -21.1% 140.0 55 43 ▪ In 1H25, CoR(1) at 31bps down by 10bps H/H, 180.9 38 39 45 thanks to imp
Slide 20: Strong asset quality with Gross and Net NPE Ratios among the lowest in Italy
Strong asset quality with Gross and Net NPE Ratios among the lowest in Italy Gross NPE stock (€bn) KEY HIGHLIGHTS -5.2% Y/Y Gross NPE Stock 3.0 0.2 ▪ Gross and Net NPE Ratios improved both Y/Y 2.5 2.5 2.5 2.5 and Q/Q 2.3 2.4 2.4 1.0 0.2 0.2 2.2 0.2 0.1 2.2 0.2 0.1 0.1 0.2 0.1 0.7 0.7 0.6 0.6 1.0 1.0
Slide 21: RWAs stable given high quality of new loan origination
RWAs stable given high quality of new loan origination RWAs(1) (€bn) KEY HIGHLIGHTS 55.9 55.6 RWAs 53.5 53.1 53.5 53.4 53.4 53.2 54.2 52.0 1.1 1.1 1.0 0.8 0.9 0.9 2.3 1.1 1.0 1.2 ▪ At the end of June 2025, RWA landed at €53.9 6.0 6.0 7.0 7.0 7.0 8.1 9.6 9.6 €53.9 bn exclu. bn, excluding Basel IV imp
Slide 22: CET1 Ratio at 16.2% with Organic Capital Generation of €1.1 bn in 1H25
CET1 Ratio at 16.2% with Organic Capital Generation of €1.1 bn in 1H25 Capital evolution KEY HIGHLIGHTS 15.3% 15.8% 15.8% 15.8% 16.2% Organic Capital Generation (OCG)(1) 14.0% 14.9% 14.5% 14.9% 13.3% ▪ OCG of €1.1 bn in 1H25 with an impact on CET1 Ratio of ~+200bps, supported by the positive income
Slide 23: Robust balance sheet with a sound liquidity profile
Robust balance sheet with a sound liquidity profile Balance sheet (€bn) KEY HIGHLIGHTS Other Assets 10.1 Balance sheet: €144.5 bn LCR and NSFR 25.1 ▪ LCR stood at 163% at the end of June 2025, Financial Assets at amortised Cost 7.6 stable compared to the end of March 2025 7.8 Loans Breakdown ▪ NSFR
Slide 24: Bond portfolio evolution and duration
Bond portfolio evolution and duration Italian Government Bonds (€bn) KEY HIGHLIGHTS +66.7% Y/Y Italian Govies 13.6 14.8 ▪ Italian Govies stand at €14.8 bn at the end of 10.3 10.2 10.0 10.0 11.3 June 2025, up by €1.2 bn Q/Q and €5.9 bn Y/Y, 9.0 8.7 8.9 mainly related to selective portfolio management
Slide 25: All Rating Agencies improved credit profile in 1H25
All Rating Agencies improved credit profile in 1H25 Bond Issued(1) (€bn) Bond Maturities(1) (€bn) KEY HIGHLIGHTS 7.1 Bond issued and maturities 2.6 ▪ In 1H25, a €500 m Senior Non-Preferred Bond issued, confirming BPER strong access to 3.2 wholesale market 0.5 2.3 1.7 4.6 2.2 1.2 Rating Agencies 0.7
Slide 26: Agenda
Agenda Update on BPSO Voluntary Public Ex. Offer Update on BPSO Voluntary Public Ex. Offer Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 26
Slide 27: Divisional Database in 1H25
Divisional Database in 1H25 Retail Private & Wealth Manag. Corporate Core Revenues €m 1,581 313 513 o.w. Net Inter. Income €m 911 39 305 o.w. Net Comm. Income €m 670 275 208 Wealth Net Comm. Inc.(1)€m 466 Cost/Income(2) 60% 39% 29% Gross Performing Loans €bn 51.4 0.7 36.3 Direct Deposits €bn 76.8 5.
Slide 28: Final Remarks
Final Remarks Successful completion of BPSO Tender Offer Relentless business growth thanks to BPER’s network commercial strength Asset quality amongst the best in Italy Robust capital supported by strong Organic Generation of ~200bps (+€1.1 bn) in 1H25 “B:Dynamic | Full Value 2027” fully on track an
Slide 29: Agenda
Agenda Update on BPSO Voluntary Public Ex. Offer Update on BPSO Voluntary Public Ex. Offer Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 29
Slide 30: Group P&L
Group P&L 2Q25 1H25 1H24 P&L - (€m) Delta H/H Delta H/H (%) Stated = Delta Q/Q % Delta Y/Y % Stated Stated Adjusted Net interest income 1,626.0 1,682.5 -56.5 -3.4% 814.1 0.3% -2.9% Net commission income 1,063.5 1,014.7 48.7 4.8% 522.4 -3.5% 1.2% Core Income 2,689.5 2,697.2 -7.7 -0.3% 1,336.5 -1.2% -
Slide 31: 2023 and 2024 Non-recurring P&L items
2023 and 2024 Non-recurring P&L items Gain/(Loss) on Non-recurring items Operat. Costs investments Tax effects Net Profit Costs related to HR actions +€294.5 m -€82.6 m +€211.8 m 2023 4Q DTAs on tax losses -€380.0 m -€380.0 m Capital gain on disposal of the 1Q -€150.1 m +€2.1 m -€148.0 m NPE servici
Slide 32: Group Reclassified Balance Sheet
Group Reclassified Balance Sheet Assets (€bn) 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Q/Q Y/Y Customer Loans 89.4 89.1 86.7 88.2 87.7 89.0 88.9 90.1 89.6 92.7 +3.5% +4.2% Securities Portfolio 30.7 30.5 30.0 28.6 26.5 26.5 27.7 29.0 30.7 32.0 +4.3% +20.8% Interbank Assets (1) 18.5 10.3 13.4
Slide 33: Asset Quality Breakdown
Asset Quality Breakdown Gross exposures (€m) 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Q/Q Y/Y YTD B/D B/D B/D B/D B/D B/D Abs. Chg Abs. Chg Abs. Chg Non Performing Exposures (NPEs) 2,336 2.6% 2,513 2.8% 2,525 2.8% 2,212 2.4% 2,387 2.6% 2,382 2.5% -5 -0.2% -131 -5.2% 170 7.7% Bad loans 661 0.7% 710 0.8% 737 0.8
Slide 34: Financial Assets: Highlights
Financial Assets: Highlights Bonds PTF Geographical Breakdown (%) Govies Geographical Breakdown (%) Other USA 7.5% Other 3.9% Spain 22.0% 5.4% France Spain 5.7% 4.4% Italy Germany 54.7% 5.9% Italy 77.5% France 13.0% Bonds PTF Maturities (1) (€bn) Italian Govies Maturities (1) (€bn) 23.8 13.0 3.5 1.8
Slide 35: Commercial dynamics: loans and deposits evolution
Commercial dynamics: loans and deposits evolution Commercial loans by geography (€bn) Commercial deposits by geography (€bn) 89.4 89.1 86.7 88.2 87.7 89.0 88.9 90.1 89.6 92.7 105.0 103.4 107.7 104.9 103.8 104.4 102.7 104.3 103.8 107.4 10.0% 10.0% 10.1% 10.5% 10.1% 10.1% 10.3% 10.5% 10.5% 10.5% 13.1%
Slide 36: ESG focus
ESG focus Environmental Social Governance ▪ 100% use of electricity from renewable ▪ Implementation of the BPER’s “Bene ▪ Included by S&P Global in the sources Comune” Service supporting Third Sector “Sustainability Yearbook 2025” ▪ About €1.5 bn of new ESG Lending in entities and Impact lending ▪ I
Slide 37: Contacts for Investors and Financial Analysts
Dummy figures Contacts for Investors and Financial Analysts Nicola Sponghi Chiara Leonelli Head of Investor Relations Investor Relations nicola.sponghi@bper.it chiara.leonelli@bper.it Maria Accarrino Ilaria Picelli Investor Relations Investor Relations maria.accarrino@bper.it ilaria.picelli@bper.it