Banca Monte dei Paschi di Siena (BMDPF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Many thanks for joining us for the Montepasqui First Quarter 2025 Results presentation. We started the year at full speed. Our network successfully drove growth of commercial activity across the board. These were visible particularly in our fees and commission dynamic, the inflows into wealth management, and the trends in our lending and savings volumes. Overall, this is a confirmation of Montepaschi's competitive market strength, the value of our people, and our high-performing business model, which is able to adapt to changing macroeconomic conditions and evolve with the transformational trends reshaping the banking industry. Our ability to continuously reinforce our home foundation enable us to reach a record fully loaded CHAT1 ratio of 19.6, one of the highest in Europe, with a solid capital buffer. We are making excellent progress, confirming that our organization is agile and capable of adapting to our clients' needs effectively. Our people are lightning focused and committed proving once again that they are, without any question, our most valuable asset. To draw a metaphor for these first quarter results, I would call this the overture to the symphony, which I believe we are capable of performing with our planned business combination with Mediobanker. Since we made our offer in January, Mediobanca has woken up. We appreciate that it has recognized the need to focus on its core banking activities after more than a decade of relying on the dividends of its minority stake in general. As a part of this, it has announced an exchange offer on Banca Generali. We don't see this as an obstacle in our objective to create Italy's third major financial institution. We are fully determined to follow through on our transaction with the powerful endorsement that our sharehol...