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BPER Banca Reports Decline in Net Profit and Lower Net Interest Income


BPER Banca shares experienced a decline on Thursday following the announcement of a drop in first-half net profit and the confirmation that net interest income has reached its peak.

At 1125 GMT, shares were trading 4.1% lower at EUR2.88, recovering slightly from the earlier 9.3% decrease.

The Italian bank reported a net profit of 704.5 million euros ($770.6 million) for the six-month period ending in June. This is a decline from the previous year’s figure of EUR1.38 billion. However, operating income showed growth of 48% to reach EUR2.65 billion during the same period.

For the full year, BPER Banca anticipates net interest income of approximately EUR2.8 billion, net commission income of around EUR2 billion, and recurring net profit of roughly EUR1.1 billion.

Deutsche Bank analyst Giovanni Razzoli highlighted that these projections indicate a slowdown in the second half of the year, including a decrease in net interest income. On the other hand, Equita Sim analyst Andrea Lisi described the bank’s guidance as conservative and agreed with BPER Banca’s assessment that net interest income had peaked in the first half of the year.

During an earnings call, BPER Banca’s management confirmed that net interest income had indeed reached its peak in the first six months of the year.

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