Bper Banca S.p.a. · MIL:BPE
Bper Banca — Q1 2026 Earnings Presentation
37 slides from Bper Banca's earnings presentation, May 7, 2026
Slide 1: 1Q26 Results Presentation
1Q26 Results Presentation MILAN | MAY 7TH | 2026
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking statements, projections, objectives, estimates and forecasts reflecting the BPER management’s current views with respect to certain future events. Forward-looking statements, projections, objectives, estimates and forecasts are generally
Slide 3: Agenda
Agenda 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: Successful merger with BPSO completed in April '26
Successful merger with BPSO completed in April ’26 A nation-wide platform to capture value across Italy’s most affluent regions Synergies confirmed at €290 m A Leading domestic Player ▪ Synergies timeline: >25% in 2026 and 100% in 2027 ▪ Early evidence of: ~57% ➢ network productivity improvement (~4
Slide 5: Integrated product factories and partnerships driving synergies
Integrated product factories and partnerships driving synergies Retail ▪ High cross-selling potential Retail ▪ Bancassurance partnership with Unipol Group ▪ Full ownership of consumer finance and salary-backed loans High-volume distribution platform enabling product penetration Private & Wealth Priv
Slide 6: Delivering solid results in 1Q26
Delivering solid results in 1Q26 1Q26Key Financial Highlights 1Q26 Adj. Net Profit(1) at €549 m thanks to Group positive commercial dynamics Total Revenues Adj. Net Profit(1) €1.8 bn €549 m -5.1% Y/Y -7.1% Y/Y Core Revenues at €1.8 bn and improving Cost/Income Ratio -1.2% Y/Y, excl. TRS +1.2% Y/Y, e
Slide 7: Making continued progress on Commissions and Cost efficiency
Making continued progress on Commissions and Cost efficiency P&L Key Figures (€m) Net Profit stated vs adjusted (€m) €598.1 m, excl. 1Q26 Q/Q Y/Y TRS & other mkt 621.6 effects Total Revenues 1,774.1 -8.7% -5.1% 591.0 564.6 575.1 Core Revenues -3.1% Q/Q, -1.2% Y/Y, 549.0 o/w NII 1,087.5 -2.1% +0.3% e
Slide 8: Full year 2026 Guidance, subject to macro and market conditions
Full year 2026 Guidance, subject to macro and market conditions FY26 Guidance vs FY25 restated 1Q26 FY25 restated Total Revenues €7.4 bn €1.8 bn o.w. Net Inter. Income €4.4 bn €1.1 bn Flat/Up low-single digit o.w. Net Comm. Income €2.6 bn €0.7 bn Up mid-single digit Op. Costs (excl. D&As) €3.0 bn €0
Slide 9: Agenda
Agenda Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 9
Slide 10: "B:Dynamic | Full Value 2027" ahead of targets
“B:Dynamic | Full Value 2027” ahead of targets (BPER excluding BPSO) KEY HIGHLIGHTS Pillar 1 Pillar 1 Pillar 2 Pillar 3 ▪ Continued growth in new lending with an increase of 36% Y/Y (€6.0 bn in 1Q26) ▪ Continued positive evolution of Net Commissions, with a sound growth in Wealth Management fees up
Slide 11: 3 main domains of deployment
Scaling AI/GenAI as a core enabler of sustainable growth, operational efficiency and strengthen Risk discipline in line with “B:Dynamic | Full Value 2027” AI/GenAI@Scale Program: from experimentation to a structural driver of value ~80 Use cases already developed 120 Use cases to be launched by end
Slide 12: Agenda
Agenda Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 12
Slide 13: Total Revenues supported by sound NII and Net Commissions growth
Total Revenues supported by sound NII and Net Commissions growth 10.3%, excl. TRS & 9.0%, excl. TRS & Total Revenues (quarterly) (€m) other mkt effects other mkt effects KEY HIGHLIGHTS 10.1% 9.1% 9.0% 8.7% 9.7% 9.8% 9.8% 9.8% BPER EXCLUDING BPSO Total Revenues 1,750.0 10.000% 1,794.3 1,943.0 1,774.1
Slide 14: Resilient NII performance supported by improving commercial spreads
Resilient NII performance supported by improving commercial spreads NII (quarterly) (€m) KEY HIGHLIGHTS +1.0% Y/Y 1,078.3 1,111.0 1,087.5 BPER EXCLUDING BPSO Net Interest Income 835.7 819.7 NII (€m) 811.9 814.1 806.8 ▪ 1Q26 NII stood at €820 m, up by 1.9% Q/Q (excluding 4Q25 one-off component of €13
Slide 15: Net Commissions growth supported by Wealth Manag. and Bancassurance products
Net Commissions growth supported by Wealth Manag. and Bancassurance products Net Commission Income (quarterly) (€m) KEY HIGHLIGHTS +5.0% Y/Y Net Commission Income 695.7 680.9 BPER EXCLUDING BPSO 568.3 568.0 646.2 (€m) 541.1 522.4 529.0 Net Commission Income ▪ 1Q26 Net Commissions up by 5.0% both Y/Y
Slide 16: Significant increase in TFAs since B:Dynamic launch and thanks to BPSO merger
Significant increase in TFAs since “B:Dynamic | Full Value 2027” launch and thanks to BPSO merger TFAs (€bn) KEY HIGHLIGHTS +8.2% Y/Y 414.0 422.2 411.1 BPER EXCLUDING BPSO 312.3 319.5 327.7 327.9 Total Financial Assets 303.0 23.8 24.0 24.4 21.3 21.5 21.7 22.1 ▪ TFAs strongly up by c. €24 bn from the
Slide 17: Cost efficiency progressing in line with targets
Cost efficiency progressing in line with targets Cost/Income & Total Costs (quarterly) (€m) KEY HIGHLIGHTS -1.6% Y/Y Total Costs (€m) BPER EXCLUDING BPSO 45.0% Total Costs 45.2% 45.1% -1.6% 47.3% 48.4% 48.5% ▪ 1Q26 Total Costs decreased by 1.6% Y/Y, with 799.9 46.7% 46.4% a lower Cost/Income Ratio a
Slide 18: Sound CoR at 27bps with NPE Coverage Ratio at 52.8%
Sound CoR at 27bps with NPE Coverage Ratio at 52.8% (incl. BPSO), amongst the highest in Italy LLPs (€m) and CoR(1) (quarterly) (bps) KEY HIGHLIGHTS -8 bps Y/Y LLPs (€m) 38 37 BPER EXCLUDING BPSO 27 27 27 120.0 31 31 42 Cost of Risk (CoR) -21.8% 24 32 ▪ In 1Q26, CoR (1) at a low 24bps, down by 8bps
Slide 19: Sound Asset Quality, NPE Ratios among the lowest in Italy
Sound Asset Quality, NPE Ratios among the lowest in Italy Gross NPE stock (€bn) KEY HIGHLIGHTS -3.3% Y/Y BPER INCLUDING BPSO 3.0 Gross NPE Stock 2.8 2.9 ▪ Gross and Net NPE Ratios almost flat Q/Q at 2.4 2.4 2.5 0.2 2.3 2.3 0.2 0.2 2.2% and 1.1%, respectively 0.1 0.1 0.1 0.1 0.1 0.8 0.6 0.7 0.6 0.6 0
Slide 20: RWAs stable Q/Q thanks to high-quality lending
RWAs stable Q/Q thanks to high-quality lending RWAs(1) (€bn) KEY HIGHLIGHTS 55.9 55.6 82.4 80.1 80.2 54.6 54.0 54.4 1.1 1.1 1.8 1.7 1.6 BPER INCLUDING BPSO 1.0 1.2 1.3 12.4 13.4 13.4 ▪ At the end of Mar-26, RWAs stable at €80.2 9.6 9.6 9.6 10.1 10.1 Q/Q ▪ 1Q26 positive RWA evolution mainly driven by
Slide 21: Strong CET1 Ratio at 14.9% with €537 m of internal capital generation
Strong CET1 Ratio at 14.9% with €537 m of internal capital generation Capital evolution KEY HIGHLIGHTS 15.1% 14.8% BPER INCLUDING BPSO 14.9% Capital evolution ▪ CET1 Ratio landed at 14.9% at the end of Marc-26 thanks to positive contribution from 494.5 net income dynamics 3Q25 4Q25 1Q26 Organic Capi
Slide 22: Robust Balance Sheet with a sound liquidity profile
Robust Balance Sheet with a sound liquidity profile Balance sheet (€bn) KEY HIGHLIGHTS Other Assets Balance sheet: €206.9 bn 14.5 BPER INCLUDING BPSO 37.0 LCR and NSFR Financial Assets at 11.3 ▪ LCR at 157% at the end of Mar-26 amortised Cost 10.4 ▪ NSFR at 131% at the end of Mar-26 Loans Breakdown
Slide 23: Bond portfolio evolution and duration
Bond portfolio evolution and duration Italian Government Bonds (€bn) KEY HIGHLIGHTS +26.5% Y/Y 20.8 21.7 22.2 BPER INCLUDING BPSO Italian Govies 17.2 13.6 14.8 14.8 15.6 ▪ Italian Govies stood at €22.2 bn at the end of Mar-26 ▪ This portfolio was 50.9% of the Total Bonds outstanding 1Q25 2Q25 3Q25 4
Slide 24: Agenda
Agenda Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 24
Slide 25: Divisional Database in 1Q26, excl. BPSO
Divisional Database in 1Q26, excl. BPSO Retail Private & Wealth Manag. Corporate Core Revenues(4) €m 773 125 258 o.w. Net Inter. Income €m 430 18 158 o.w. Net Comm. Income €m 339 107 91 Wealth Net Comm. Inc.(1)€m 259 Cost/Income(2) 60% 37% 30% Gross Performing Loans €bn 51.4 0.8 37.0 Direct Deposits
Slide 26: Final Remarks
Final Remarks Successful merger with BPSO completed in April ’26 Confirmed integration synergies at €290 m by end of 2027 Business growth driven by integrated commercial networks & products Asset quality amongst the best in Italy Robust capital position with Strong Organic Generation at €537 m in 1Q
Slide 27: Agenda
Agenda Executive summary Executive summary B:Dynamic | Full Value 2027 B:Dynamic | Full Value 2027 Group results Group results Final remarks Final remarks Annexes Annexes 27
Slide 28: Group P&L - FY25 Restatement & 1Q26, incl. BPSO
Group P&L - FY25 Restatement & 1Q26, incl. BPSO 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 P&L - (€m) Restated Restated Stated Stated Restated Stated Net interest income 1,083.9 1,097.7 1,078.3 1,111.0 4,370.8 1,087.5 Net commission income 656.7 635.4 646.2 695.7 2,633.9 680.9 Core Income 1,740.5 1,733.1 1,724.5
Slide 29: 2025-2026 non-recurring P&L items
2025-2026 non-recurring P&L items Impacts on Impacts on Non-recurring items Tax effects Minorities P&L items Net Profit Integration costs +€288.6 m -€95.2 m -€10.6 m +€182.7 m 2025 4Q Purchase Price Allocation +€181.8 m -€60.0 m -€22.7 m +€99.1 m Integration costs +€25.1 m -€8.8 m -€1.5 m +€14.8 m 2
Slide 30: Group Reclassified Balance Sheet
Group Reclassified Balance Sheet Assets (€bn) 1Q25 2Q25 3Q25 4Q25 1Q26 Q/Q Y/Y Customer Loans 89.6 92.7 125.9 128.7 128.8 +0.0% +43.8% Securities Portfolio 30.7 32.0 45.0 45.7 46.4 +1.5% +51.1% Interbank Assets(1) 8.9 8.9 13.2 14.2 16.2 +14.2% +82.4% PPE & Intangible Assets 3.2 3.2 4.9 4.7 4.7 -1.3%
Slide 31: Asset Quality Breakdown
Asset Quality Breakdown Gross exposures (€m) 1Q25 2Q25 3Q25 excl. BPSO 3Q25 incl. BPSO 4Q25 excl. BPSO 4Q25 incl. BPSO 1Q26 excl. BPSO 1Q26 incl. BPSO Q/Q Combined Y/Y Combined B/D B/D B/D B/D B/D B/D B/D B/D Abs. Chg. Abs. Chg. Non Performing Exposures (NPEs) 2,387 2.6% 2,382 2.5% 2,504 2.7% 2,982
Slide 32: Financial Assets: Highlights
Financial Assets: Highlights Bonds PTF Geographical Breakdown (%) Govies Geographical Breakdown (%) Other Germany 6.0% 4.4% Other Spain 19.6% 5.0% France Spain 5.1% 4.2% Germany 5.7% Italy 59.3% Italy France 79.5% 11.2% Bonds PTF Maturities (1) (€bn) Italian Govies Maturities (1) (€bn) 24.6 15.0 3.3
Slide 33: Commercial dynamics: loans and deposits evolution
Commercial dynamics: loans and deposits evolution Commercial loans by geography (€bn) Commercial deposits by geography (€bn) 89.6 92.7 125.9 128.7 128.8 103.8 107.4 147.4 150.8 147.3 10.5% 10.5% 13.2% 13.8% 14.1% 13.7% 13.7% 13.0% 12.6% 12.9% 12.1% 11.8% 9.0% 8.9% 8.9% 10.8% 10.7% 10.8% 14.5% 14.5%
Slide 34: All credit ratings confirmed over the quarter
All credit ratings confirmed over the quarter Bond Issued(1) (€bn) Bond Maturities(1) (€bn) 6.9 2.5 0.3 4.2 1.8 3.4 2.4 0.0 0.7 0.2 0.9 0.4 1.1 2.5 1.8 4.2 3.5 0.4 0.5 0.5 1.2 FY25 1Q26 2026 2027 2028 beyond Wholesale Covered Bond Retail Wholesale Covered Bond Retail Rating Agency LT Issuer LT Depos
Slide 35: Divisional Database, excl. BPSO
Divisional Database, excl. BPSO Retail 1Q25 1H25 9M25 FY25 1Q26 Corporate 1Q25 1H25 9M25 FY25 1Q26 Core Revenues (€m) (4) 787.9 1,581.1 2,337.6 3,119.2 772.9 Core Revenues (€m) (4) 249.8 513.0 768.4 1,039.4 257.9 o.w. Net Inter. Income (€m) 463.6 911.4 1,337.3 1,766.5 430.2 o.w. Net Inter. Income (€
Slide 36: ESG focus
ESG focus Environmental Social Governance ▪ 100% use of electricity from renewable ▪ Support to Third Sector entities and ▪ Included by S&P Global in the sources Impact lending “Sustainability Yearbook 2026” ▪ More than €0.9 bn of new ESG lending in ▪ Top Employer Italia 2026 ▪ Included in the MIB E
Slide 37: Contacts for Investors and Financial Analysts
Contacts for Investors and Financial Analysts Dummy figures Nicola Sponghi Chiara Leonelli Head of Investor Relations Investor Relations nicola.sponghi@bper.it chiara.leonelli@bper.it Giulia Biocca Michele Minelli Investor Relations Investor Relations giulia.biocca@bper.it michele.minelli@bper.it Fe