Overview
- Nine‑month net profit reached €1.366 billion and third‑quarter net profit was €474 million, both ahead of consensus despite a tougher tax comparison versus 2024.
- CEO Luigi Lovaglio guided to more than €1.6 billion full‑year net income and said this year’s profit is intended for dividends, while buybacks or an extraordinary payout are under evaluation.
- MPS reported a post‑acquisition CET1 ratio of 16.9%, which management says is sufficient to support the stated distribution policy.
- The combined MPS–Mediobanca group is projected to generate about €8 billion of revenues and €3 billion of adjusted net income, with Mediobanca to be consolidated from the fourth quarter and both brands retained.
- The board approved preliminary governance changes, including removing board term limits, subject to ECB authorization and a subsequent extraordinary shareholder meeting that the bank signals could be convened by January.