Banca Monte dei Paschi di Siena (BMDPF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining us today for the presentation of our second quarter and first half 2025 financial results. Today we present spectacular results with a quarterly profit of $479 million and nearly $900 million in the first half of the year. These numbers show our tangible capability to deliver growth, high profitability, and strategic clarity. The clarity of purpose is really paying off for customers, employees, and increasingly for shareholders. Our advantage lies in our deep client relationship developed by a unique and very powerful distribution network that delivers high quality revenues and rising fees contribution. Building on the strong results of the first half, we continue to lead with a strong quarter-one ratio on 18.6, a position that's further validated by recent stress tests. Even under adverse scenario, our bank ranks at the top of the sector in Italy and Europe. We build what they call a fortezza, a robust balance sheet capable of protecting Montepaschi and creating opportunity for decades to come. Our profitability is accelerating to strong commercial activity. With this solid foundation and on the back of excellent first-half performance, we have raised the bar for full year 2025 and now expect pre-tax profit to well exceed 1.5 billion. This is a clear sign that Monte Paschi is delivering a real and growing value. With this awareness, we confirm our determination to create a new leading competitive force in the Italian banking system through our offer for Mediobanca, which is now live in the market. Through this extraordinary combination with Mediobanca, we will generate a superior sustainable value over the long term, offering certain returns to both sets of shareholders. The know-how and distinctive skills of Mediobanca ...