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Banca Monte dei Paschi di Siena
Banca Monte dei Paschi di Siena (BMPS) investor relations material
Banca Monte dei Paschi di Siena Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary12 May, 2026
Executive summary
Net profit for Q1 2026 reached €521 million and profit before tax €911 million, up 15.6% quarter-on-quarter and 6.7% year-on-year, reflecting strong operating performance, disciplined execution, and strategic momentum.
Gross operating profit exceeded €1.1 billion (+8.4% q/q), with revenues up 3% and costs down 3.1%, driving the cost/income ratio to 44%.
Loans grew to €129 billion (+1% q/q, +5.2% y/y), supported by new mortgages and consumer credit, with a resilient funding base.
Mediobanca integration is progressing on plan, unlocking synergies and scale, with execution-led transformation across business lines.
Business performance aligns with the 2026-2030 strategic plan, aiming to accelerate value creation through group reorganization.
Financial highlights
Net profit for Q1 2026 was €521 million, with profit before tax at €911 million, up 15.6% quarter-on-quarter and 6.7% year-on-year (pro forma).
Gross operating profit at €1.1 billion (+8.4% q/q), with cost/income ratio at 44%.
Net operating result increased to €947 million, up 9.5% quarter-on-quarter and 3.4% year-on-year.
Revenues reached €1,960 million, up 2.9% year-on-year and 3% quarter-on-quarter; net interest income up 1.9% q/q, fees up 2.8% q/q.
Loans reached €129 billion (+1% q/q, +5.2% y/y); direct funding stable at €106 billion, indirect funding at €185 billion, up €12 billion since March 2025.
Outlook and guidance
2026 profit before tax guidance confirmed above €3.5 billion, supported by strong momentum and disciplined execution.
Over 30% of target synergies already secured for 2026; integration initiatives expected to contribute visibly during the year.
Fee and commission trends expected to remain positive, with seasonality in Q3.
Dividend per share expected to remain broadly in line with current year; buybacks considered post-merger.
Integration costs expected at €300 million, mainly booked in the second half of the year.
Mediobanca CIB role in fee acceleration
Tax consolidation impact on DTA fee reduction
Drivers of HR cost reduction post-acquisition
Private banking recovery since mid-April
Status of Danish compromise EBA application
Capital impact of Generali dividend reversal
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Latest events from Banca Monte dei Paschi di Siena
- Net profit up 17.7% to €2.75bn, €700m synergies, 10% dividend yield, CET1 16.2%.BMPS
Q4 202513 Apr 2026 - Targets €9.5bn revenues, €3.7bn profit, and €16bn payout by 2030 via merger and digital growth.BMPSBusiness Plan Update9 Apr 2026
- Net profit rose 87% to €1,159m in H1 2024, with strong capital and digital-focused growth plans.BMPSQ2 20242 Feb 2026
- Net profit up 68.6% to €1,566m, CET1 at 18.3%, and cost/income ratio at 46%.BMPSQ3 202415 Jan 2026
- Net profit up 16.9% to €1,951m, 14% dividend yield, and €700m Mediobanca synergies targeted.BMPSQ4 20248 Jan 2026
- Net profit up 21.4% to €892m, CET1 at 19.6%, and 2025 guidance raised with Mediobanca offer.BMPSQ2 202523 Nov 2025
- Q1 net profit up 24.2% to EUR 413m, CET1 at 19.6%, Mediobanca deal advancing, strong fee growth.BMPSQ1 202517 Nov 2025
- Net profit up 17.5% to €1,366m, CET1 at 16.9%, Mediobanca deal completed, 100% payout ratio.BMPSQ3 20257 Nov 2025
- MPS and Mediobanca to merge, forming Italy's #3 bank with strong synergies and growth potential.BMPSInvestor Presentation6 Jun 2025
Next Banca Monte dei Paschi di Siena earnings date
Q2 20266 Aug, 2026
Banca Monte dei Paschi di Siena
Next Banca Monte dei Paschi di Siena earnings date
Q2 20266 Aug, 2026
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