Banco Bpm Societa Ord (BNCZF) Q4 2025 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 full year 2025 group results presentation. As a reminder, all participants are in 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, IR Manager of Banco BPM. Please go ahead, sir. Good afternoon and welcome to Banco BPM full year results conference call. Our CEO, Giuseppe Castagna, and our Joint General Manager, Eduardo Gineo, will take through the presentation. And let me remind you, please, to limit yourself to two questions. And now I hand over to Mr. Castagna. Thank you. Thank you, Arne. Good evening to everybody. For once, we are the only one in the evening, so we'll take our time, but I will try to be as quick as possible in order to give you the possibility to make an interesting Q&A session. So, first slide on page six, I will start. This is just a recap of the completion. We are more and more having on... our new business model, which, as you know, started a couple of years ago with the intention to build a business model driven by the product factory and able to hedge the contribution of commission and fees vis-a-vis NII revenues. I would say that this model is becoming more and more attractive. We are completing, basically, the different product factory steps. We will go through each one later on. But let me say that with this business model, we were able to support a very strong profitability, which with this split 50-50 interest income and commission is of course more sustainable for the next quarter and year...