Published by Global Banking & Finance Review®
Posted on May 9, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleMonte dei Paschi reports a 24% profit rise, surpassing forecasts as it targets Mediobanca in a takeover. Revenues remain stable, and costs decline.
MILAN (Reuters) -State-backed Monte dei Paschi di Siena on Friday posted a larger-than-forecast 24% rise in first-quarter profit as it pursues a hostile takeover of rival Mediobanca in the consolidation wave sweeping Italian finance.
Mediobanca, which has announced its own buyout offer for wealth manager Banca Generali in an effort to thwart Monte dei Paschi's (MPS) bid, also reported better than expected results on Friday.
MPS said net profit came in at 413 million euros ($464 million), well above a 341 million euro forecast in an analyst consensus gathered by the bank, as revenues held up and costs and loan loss provisions declined.
Revenues were flat year-on-year at 1 billion euros, topping expectations, with higher net fees offseting an 8% decline in income from the gap between lending and deposit rates. Fees from wealth management and advisory in particular shot up 21% on a quarterly basis.
The core capital ratio strengthened further to 19.6% of assets, one of the highest in the sector.
($1 = 0.8908 euros)
(Reporting by Valentina Za, editing by Alvise Armellini)
The article discusses Monte dei Paschi's 24% profit rise and its takeover bid for Mediobanca.
Monte dei Paschi reported a 24% profit rise, with net profit at 413 million euros, surpassing forecasts.
Mediobanca announced a buyout offer for Banca Generali to counter Monte dei Paschi's bid.
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