Home » Banking still under fire sales: B for the worst at -11% on the day of the plan

Banking still under fire sales: B for the worst at -11% on the day of the plan

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Banking still under fire sales: B for the worst at -11% on the day of the plan
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The sharp falls for the Italian banking sector continue, with Bper positioned behind the Ftse Mib. The share of the Emilian bank fell by more than 1% to 1.721 euros (intraday minimum reached at 1.704 euros). This morning Bper approved the new 2022-2025 business plan “BPER e-volution” which forecasts a net profit of 800 million euros by 2025. The capital position is expected to remain high, with a Fully Phased Cet1 ratio greater than 13% by 2025, supported by the strong generation of profits that will significantly increase the remuneration to shareholders, with a pay-out ratio expected to be 50% in 2025. “Bper’s plan is characterized by targets for 2024-25 that are generally consistent with our expectations”, underline from Equita, which maintains the hold rating on the Emilian bank.

“Ambitious goals but which we know are within our reach, leveraging on the remarkable results achieved today in terms of improving competitive positioning, profitability and credit quality”, commented Bper’s chief executive officer, Piero Montani. During today’s presentation of the plan, the CEO then answered a question about the performance of the share on the stock market. “All the banking stocks are losing, we more than the others – he specified -. The stock is suffering from an unfortunate day and the fact that it had risen a lot in the last period”. Among the bankers of the Ftse Mib, Banco Bpm and UniCredit also suffer, losing almost 9% and about 7% respectively.

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