Consolidated Half-Year Financial Report at 30 June 2025
Desio, 5 August 2025
of Banco di Desio e della Brianza S.p.A.
Board of Directors
APPOINTED BY THE SHAREHOLDERS' MEETING OF 27 APRIL 2023
in office until the approval of the financial statements at 31.12.2025 Chairman Stefano Lado
Chief Executive Officer and General Manager Alessandro Maria Decio*
Directors Graziella Bologna*
Valentina Maria Carla Casella Paola Bruno
Agostino Gavazzi* Tito Gavazzi Alessandra Maraffini Laura Tulli Gerolamo Gavazzi*
Folco Trabalza (appointed meeting 18 April 2024)
* Members of the Executive Committee
Board of Statutory Auditors
APPOINTED BY THE SHAREHOLDERS' MEETING OF 27 APRIL 2023
in office until the approval of the financial statements at 31.12.2025 Chairman Emiliano Barcaroli
Statutory Auditors Rodolfo Anghileri
Stefania Chiaruttini
Alternate Auditors Stefano Antonini
Silvia Re Erminio Beretta
General Management
Chief Executive Officer and General Manager Alessandro Maria Decio
Financial Reporting Manager as per Article 154-bis TUF
Financial Reporting Manager Mauro Walter Colombo
Independent Auditors
Independent Auditors KPMG S.p.A.
Contents Banco Desio Group Overview 4 Group structure and territorial presence 5 Interim Report on Operations 6Introduction 7
Group key figures, alternative performance indicators and other indicators 8
Macroeconomic scenario 10
Distribution channels 14
Significant corporate events 16
Human Resources 19
Operating performance 22
Performance of subsidiaries 44
Other information 51
Outlook and main risks and uncertainties 53
Condensed consolidated half-year financial statements 54 Financial Statements 55 Notes 63Accounting policies 63
Information on fair value 104
Main balance sheet and income statement aggregates 112
Information on risks and related hedging policies 167
Business combinations involving businesses or business units 199
Related party transactions 206
Payment agreements based on own equity instruments 209
Segment reporting 212
Certification pursuant to Article 154-bis, paragraph 5-ter of Legislative Decree No. 58/98 to the condensed half-year financial statements 214 Certification of the Independent Auditors on the condensed half-year financial statements 216 Annex | Consolidated income statement - quarterly development 219This document is a courtesy translation into English, for the convenience of international readers, of the "Relazione finanzi aria semestrale consolidata al 30 giugno 2025" of Banco Desio Group in PDF format. In case of any discrepancies or doubts between the English and the Italian versions of the Report, the Italian version prevails.
Net revenues
Euro 297 million
(target > Euro 620 million by 2026)
Cost/Income
59.3%
(target Cost/Income 55% by 2026)
Net profit
Euro 70 million
(target > Euro 115 million by 2026)
Return on equity (ROE)
9.9%
(target ROE > 8% by 2026)
Key figures and indicators at 30 June 2025 in relation to the targets of the "Beyond 26" plan
Profitability
Reliability
NPL Ratio (Gross)
2.9%
(target NPL Ratio < 4% by 2026)
Liquidity Coverage Ratio (LCR)
205.2%
(target LCR > 150% by 2026)
Capital soundness
CET1 ratio Banco Desio Group
18.52%
(target CET1 ratio > 15% by 2026)
Payout ratio of June 2025
50%
(target at 50% by 2026)
Financial rating
Standard & Poor's
BBB-
Outlook STABLE
Fitch Ratings
BBB-
Outlook STABLE
Sustainability Rating
Standard Ethics Rating
EE / Strong
(growth target by 2026)
S&P Global ESG Score
44 / Adequate
(target "40-60 Adequate" by 2026)
For more information on sustainability ratings/scores see bancodesio.it/it/esg-e-sostenibilita/obiettivi/le-nostre-ambizioni
The scope of consolidation of the Banco Desio Group at 30 June 2025 includes the following companies:
100.00%
60.00%
100.00%
100.00%
DYNAMICA RETAIL AGENZIA IN ATT. FINANZIARIA SRL
Dynamica Retail S.p.A. ("Dynamica Retail") and its subsidiary Dynamica Retail Agenzia in Attività Finanziaria S.r.l. ("Dynami ca Agenzia") are included in the scope of consolidation as of 1 June 2024. On 23 June 2025, Banco Desio increased its controlling share from 89.23% to 100%.