Banco Bpm Societa Ord (BNCZF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good evening, this is the Coruscall Conference Operator. Welcome and thank you for joining the Banco BPM Group first quarter 2026 results presentation. As a reminder, all participants are in a listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Arne Riscassi, I are manager of Banco Bpm. Please go ahead, sir. Good afternoon. Thanks for joining the conference call. Q1 results will be presented by our CEO, Giuseppe Castagna, and our joint general manager and CFO, Eduardo Ginevra. Let me remind, as usual, to limit, please, yourself to two questions maximum. Now let me hand over to Mr. Castagna. Thank you. Thank you, Arne. Thank you, everybody, all the people which joined our conference call. We are happy to present a very strong set of numbers for Q1 26, a solid start, I would say a compelling business model in action because we are following exactly the path that we presented last year with our updated business plan in February 25. Profitability grew to 480 million of net income, Bpm Societa Ord Bpm Societa Ord Bpm Societa Ord Bpm Societa Ord from the development of the product factories. As you can see, in 2025, we had the contribution, average contribution per quarter of 377 million. Now, in the first quarter, it's 406 million. And the target, the quarterly target for this year was 400 million. So we are already above the target. Let's only have in mind that when we started the plan, the contribution from product factories was slightly above 200 million in 2023, of course always as a quarterly average, and 242 million in 2024. So a significa...