Banca Monte dei Paschi di Siena (STU:MPI0)
€ 6.074 0.04 (0.66%) Market Cap: 7.84 Bil Enterprise Value: 2.60 Bil PE Ratio: 2.81 PB Ratio: 0.67 GF Score: 40/100
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Q1 2024 Banca Monte dei Paschi di Siena SpA Earnings Call Transcript

May 07, 2024 / 06:30AM GMT
Release Date Price: €4.6 (+1.48%)
Luigi Lovaglio
Banca Monte dei Paschi di Siena SpA - Chief Executive Officer, General Manager, Executive Director

Many thanks, and good morning, everybody. Many thanks for joining us for Monte Paschi di Siena 2024 first-quarter results presentation.

The first-quarter results give evidence that Monte Paschi engine is working at full speed, with a new organization and management team successfully driving the continuous growth of the commercial activity, in particular, visible in the fee and commissioning dynamics.

We started 2024 with record operating performance, which show Monte Paschi's strength competing the market, thanks to the value of our people and the power of our network. Our capital ratio at 18.2% pro forma confirms that Monte Paschi is steadily at the top of the banking system and up to the main rate of our shareholder, accruing already in the first-quarter dividends to distribute next year.

Let me now move on to some key highlights. Net profit in the first three months of 2024 reached EUR333 million, with a 41% year-on-year increase driven by a further improvement

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