Consolidated Half-Year Financial Report at 30 June 2026
Desio, 30 July 2026
of Banco di Desio e della Brianza S.p.A.
One-tier system approved by the Shareholders' Meeting of 12 March 2026Board of Directors
APPOINTED BY THE SHAREHOLDERS' MEETING OF 29 April 2026
in office until the approval of the financial statements at 31.12.2028 Chairman Stefano Lado
Deputy Chairman Gerolamo Gavazzi*
Chief Executive Officer and General Manager Stefano Vittorio Kuhn* Directors Emiliano Barcaroli
Graziella Bologna* (Corporate Anti-Money Laundering Officer) Valentina Casella
Giulia Cavalli Stefania Chiaruttini
Cristina Finocchi Mahne Tito Gavazzi
Pietro Lado Folco Trabalza Laura Tulli
* Members of the Executive Committee
Management Control Committee
APPOINTED BY THE SHAREHOLDERS' MEETING OF 29 April 2026
in office until the approval of the financial statements at 31.12.2028 Chairman Emiliano Barcaroli
Members Stefania Chiaruttini
Giulia Cavalli
General Management
Chief Executive Officer and General Manager Stefano Vittorio Kuhn
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 15
Significant corporate events 17
Human Resources 21
Operating performance 23
Performance of subsidiaries 45
Other information 52
Outlook and main risks and uncertainties 54
Condensed consolidated half-year financial statements 55 Financial Statements 56 Notes 62Accounting policies 62
Information on fair value 104
Main balance sheet and income statement aggregates 112
Information on risks and related hedging policies 165
Business combinations involving businesses or business units 199
Related party transactions 202
Payment agreements based on own equity instruments 205
Segment reporting 208
Certification pursuant to Article 154-bis, paragraph 5-ter of Legislative Decree No. 58/98 to the condensed half-year financial statements 210 Certification of the Independent Auditors on the condensed half-year financial statements 212 Annex | Consolidated income statement - quarterly development 215This document is a courtesy translation into English, for the convenience of international readers, of the "Relazione finanziaria semestrale consolidata al 30 giugno 2026" 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.
Key figures and indicators at 30 June 2026 in relation to the targets of the "Beyond 26" plan
Profitability | ||
Return on equity (ROE) 9.8% (target ROE > 8% by 2026) | Cost/Income 55.9% (target Cost/Income 55% by 2026) | |
Net profit Euro 76 million (target > Euro 115 million by 2026) | Net revenues Euro 321 million (target > Euro 620 million by 2026) | |
Reliability | ||
NPL Ratio (Gross) 2.9% (target NPL Ratio < 4% by 2026) | Liquidity Coverage Ratio (LCR) 178.8% (target LCR > 150% by 2026) | |
Capital soundness | ||
CET1 ratio Banco Desio Group 17.7% (target CET1 ratio > 15% by 2026) | Payout ratio of June 2026 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 47 / Adequate (target "40-60 Adequate" by 2026) | |
MSCI ESG Rating A | 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 2026 includes the following companies:
On 30 April 2026, Banco Desio completed the transaction for the acquisition of control of Solutions Capital Management SIM
S.p.A ("SCM SIM") by means of a voluntary public tender offer for all shares. At 30 June 2026, Banco Desio held an 88.403% stake in the share capital of SCM SIM (for further details on the acquisition, please refer to the section "Significant corporate events").
Half-Year Financial Report at 30 June 2026 | Page