Banco BPM It full of profits and has an ambitious plan, snubbing the offer recently presented by Unicredit and raising the price opa on soul. A clear sign of wanting to be the protagonist of the growth of the Institute, who wants to play as a protagonist and not as a prey in the bank risk.
The rise in the price on soul
Banco BPM’s board of directors has decided to raise the consideration offered As part of the Public Purchase Offer (Opa) Volunteer for Anima at 7 euros (cum dividend) From 6.20 euros initially proposed, and to renounce, in whole or in part, to one or more of the conditions of effectiveness of the offer not yet satisfied.
Meanwhile, the bank made it known that Poste Italiane and FSI SGR have committed themselves to joining to Opa on soul for a number of shares equal to a total of 21% of the capitalJointly with the shares already held from Banco BPM, equal to 22% of the capital, 43% of the animal capital is reached. In addition to Poste and FSI, whose adhesions are subject to the conditions of approval by the Assembly and the obtaining of antitrust authorizations and Golden Power, the other relevant shareholder is Caltagirone, which holds 3.46% of the capital. +
The solid results 2024 and the new plan
Banco Bpm closed 2024 with a net profit of 1,920 million euros, with a growth of 52% Compared to 2023, while the profit Adjusted is equal to 1,691 million, with an increase of 18%. The margin of interest it stands at 3,440 million, up 4.6% and the commissions at 2,003.8 million, up 4.4%. The Board of Directors has decided to propose a Dividend cash per share of 0.60 euroswhich combined with the deposit of 0.40 euros per share already paid on November 20, 2024, certifies the total remuneration for the 2024 exercise to 1 euro per share (dividend Yield equal to 11.2%), for an equal value to 1,509.1 million. The Payout Ratio dividend is approximately 80% (compared to 67% in 2023).
Also presented the new industrial plan 2025-2027, which updates the previous 2023-2026 floor, Including Anima, if the opa is successful, and leveraging a model focused on product factories. The plan will aim for a replacement effect between interests, expected decreasing, and commissions, which will allow you to reach a net profit to 2027 equal to 2.15 billion Euro (starting from the excellent result of 1.69 billion Adjusted to 2024) and thanks to the contribution of soul estimated at 0.2 billion. At the end of the floor, a wheel above 24%is expected. “Banco BPM will generate a cumulative net profit greater than 7.7 billion euros in the horizon of the plancompared to the approximately 6 billion of the previous plan, allowing a further increase in the remuneration of shareholders. We are committed to distributing more than half of the current market capitalization of the bank to the shareholders: this percentage does not change compared to the previous floor, but the price of our actions has changed, and therefore we are committed to returning the double, “said Castagna .
Castagna: Unicredit offer contrasts with growth aspirations
“The goals achieved in 2024 demonstrate once more Force that Banco Bpm he has been able to express since his birth in all sectors of his business and certify the advance and the overcoming of the main objectives of the strategic plan, explained the CEO Giuseppe Castagna, adding that the bank is oriented “towards new prospects for development and growth that take into account both the still unexpressed value of the factories produced” and the intake of soul.
“This overall picture confirms what has already been underlined by the Banco BPM board regarding the‘Oops announced by Unicredit“, Says Castagna, reiterating that“ this offer contrast In an increasingly evident way with the demonstrated ability of Banco BPM to produce excellent performance, with prospects for further growth and profitability concrete, credible and achievable “. Castagna also launched an arrow to his rival Andrea Orcel, affirming “Someone called his ‘unlocked’ plan (Unicredit), this is instead a ‘locked-in’ plan (blocked) in terms of results”.
Responding to a question on the possibility of doing further consolidation operations, the manager has not eclusion other possible acquisitions In the future.
