Banco BPM S p A : H1 2020 Financial data Banco BPM Group
August 14, 2020 at 12:43 pm EDT
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Balance Sheet
BANCO BPM GROUP
Reclassified consolidated balance sheet
(in euro thousand)
6/30/20
12/31/19
Var. su 31/12/2019
Var. % su 31/12/2019
Cash and cash equivalents
838,403
912,742
-74,339
-8.1%
Financial assets at amortised cost
121,213,278
115,889,891
5,323,387
4.6%
- Due from banks
12,824,727
10,044,427
2,780,300
27.7%
- Customer loans (*)
108,388,551
105,845,464
2,543,087
2.4%
Other financial assets
43,885,488
37,069,089
6,816,399
18.4%
- Financial assets designated at FV through P&L
9,074,876
7,285,091
1,789,785
24.6%
- Financial assets designated at FV through OCI
13,112,219
12,526,772
585,447
4.7%
- Financial assets at amortised cost
21,698,393
17,257,226
4,441,167
25.7%
Equity investments
1,577,065
1,386,079
190,986
13.8%
Property and equipment
3,522,027
3,624,312
-102,285
-2.8%
Intangible assets
1,260,785
1,269,360
-8,575
-0.7%
Tax assets
4,628,214
4,619,636
8,578
0.2%
Non-current assets held for sale and discontinued operations
105,232
131,082
-25,850
-19.7%
- Customer loans
38,092
93,744
-55,652
-59.4%
- Other assets and group of assets
67,140
37,338
29,802
79.8%
Other assets
2,384,870
2,136,010
248,860
11.7%
Totale dell'attivo
179,415,362
167,038,201
12,377,161
7.4%
Direct funding
115,233,654
109,506,299
5,727,355
5.2%
- Due to customers
98,769,456
93,375,026
5,394,430
5.8%
- Debt securities issued and financial liabilities designated at FV
16,464,198
16,131,273
332,925
2.1%
Due to banks
32,929,600
28,515,685
4,413,915
15.5%
Leasing debts
682,003
732,536
-50,533
Other financial liabilities designated at fair value
11,498,817
10,919,429
579,388
5.3%
Liability provisions
1,277,756
1,486,683
-208,927
-14.1%
Tax liabilities
611,548
619,269
-7,721
-1.2%
Liabilities associated with assets held for sale
4,216
5,096
-880
-17.3%
Other liabilities
4,942,360
3,366,122
1,576,238
46.8%
Total Liabilities
167,179,954
155,151,119
12,028,835
7.8%
Minority interests
24,559
26,076
-1,517
-5.8%
Shareholders' equity
12,210,849
11,861,006
349,843
2.9%
Consolidated Shareholders' Equity
12,235,408
11,887,082
348,326
2.9%
Total Liabilities and Shareholders' Equity
179,415,362
167,038,201
12,377,161
7.4%
(*) Include the Senior notes for those the Italian government has issued the State guarantee on the securitization of bad loans, pursuant to the Decree Law 18/2016 ("GACS")
P&L
BANCO BPM GROUP
Reclassified consolidated income statement
(in euro thousand)
6/30/20
30/06/2019 restated
Chg.
Chg. %
Net interest income
953,621
1,011,305
-57,684
-5.7%
Income (loss) from investments in associates carried at equity
70,302
69,386
916
1.3%
Net interest, dividend and similar income
1,023,923
1,080,691
-56,768
-5.3%
Net fee and commission income
816,934
888,191
-71,257
-8.0%
Other net operating income
31,599
42,110
-10,511
-25.0%
Net financial result
124,080
83,042
41,038
49.4%
Other operating income
972,613
1,013,343
-40,730
-4.0%
Total income
1,996,536
2,094,034
-97,498
-4.7%
Personnel expenses
-816,979
-843,857
26,878
-3.2%
Other administrative expenses
-308,674
-330,154
21,480
-6.5%
Net value adjustments on property and equipment and intangible assets
-123,089
-131,074
7,985
-6.1%
Operating costs
-1,248,742
-1,305,085
56,343
-4.3%
Profit (loss) from operations
747,794
788,949
-41,155
-5.2%
Net adjustments on loans to customers
-476,242
-349,644
-126,598
36.2%
Profit (loss) on fair value measurement of tangible assets
-5,416
-26,782
21,366
-79.8%
Net adjustments on other assets
-8,383
25
-8,408
Net provisions for risks and charges
-7,614
-5,680
-1,934
34.0%
Profit (loss) on the disposal of equity and other investments
220
336,813
-336,593
-99.9%
Income (loss) before tax from continuing operations
250,359
743,681
-493,322
-66.3%
Tax on income from continuing operations
-52,425
-81,145
28,720
-35.4%
Systemic charges after tax
-75,684
-56,861
-18,823
33.1%
Income (loss) attributable to minority interests
1,508
4,471
-2,963
-66.3%
NET INCOME (LOSS) before PPA
123,758
610,146
-486,388
-79.7%
Purchase Price Allocation (PPA) net of tax
-18,527
-7,162
-11,365
158.7%
NET INCOME (LOSS) FOR THE PERIOD
105,231
602,984
-497,753
-82.5%
2019 figures are restated due to the change in the accounting standard for the valuation of the Group's property and works of art.
Quarterly P&L
BANCO BPM GROUP
Reclassified consolidated income statement - Quarterly evolution
(in euro thousand)
Q2 2020
Q1 2020
Q4 2019
Q3 2019 restated
Q2 2019 restated
Q1 2019 restated
Net interest income
479,507
474,114
473,959
495,805
512,117
499,188
Income (loss) from investments in associates carried at equity
48,036
22,266
33,917
27,952
32,628
36,758
Net interest, dividend and similar income
527,543
496,380
507,876
523,757
544,745
535,946
Net fee and commission income
376,371
440,563
462,167
444,065
453,673
434,518
Other net operating income
14,855
16,744
16,129
17,785
17,928
24,182
Net financial result
-82,718
206,798
207,370
41,668
10,697
72,345
Other operating income
308,508
664,105
685,666
503,518
482,298
531,045
Total income
836,051
1,160,485
1,193,542
1,027,275
1,027,043
1,066,991
Personnel expenses
-397,954
-419,025
-437,052
-415,622
-417,984
-425,873
Other administrative expenses
-154,094
-154,580
-149,780
-158,632
-163,135
-167,019
Net value adjustments on property and equipment and intangible assets
-61,710
-61,379
-69,289
-68,586
-67,745
-63,329
Operating costs
-613,758
-634,984
-656,121
-642,840
-648,864
-656,221
Profit (loss) from operations
222,293
525,501
537,421
384,435
378,179
410,770
Net adjustments on loans to customers
-262,999
-213,243
-220,499
-208,387
-197,692
-151,952
Profit (loss) on fair value measurement of tangible assets
-5,094
-322
-131,012
-739
-19,306
-7,476
Net adjustments on other assets
-3,728
-4,655
1,596
4,138
3,996
-3,971
Net provisions for risks and charges
-9,809
2,195
-62,633
-2,712
-10,102
4,422
Profit (loss) on the disposal of equity and other investments
129
91
-3,638
-24
336,646
167
Income (loss) before tax from continuing operations
-59,208
309,567
121,235
176,711
491,721
251,960
Tax on income from continuing operations
41,398
-93,823
-26,565
-44,949
-27,436
-53,709
Systemic charges after tax
-18,169
-57,515
-4,495
-31,521
-15,240
-41,621
Income (loss) after tax from discontinued operations
-
-
-
-
-
-
Income (loss) attributable to minority interests
1,537
-29
9,247
1,846
3,225
1,246
NET INCOME (LOSS) before PPA
-34,442
158,200
99,422
102,087
452,270
157,876
Purchase Price Allocation (PPA) net of tax
-11,962
-6,565
-3,650
-3,842
-4,700
-2,462
NET INCOME (LOSS) FOR THE PERIOD
-46,404
151,635
95,772
98,245
447,570
155,414
2019 figures are restated due to the change in the accounting standard for the valuation of the Group's property and works of art.
P&L (PPA_FVownLiab.)
BANCO BPM GROUP
Reclassified consolidated income statement with restatement of the impact of Purchase Price Allocation (PPA) and of the change in own credit risk (FV on own liabilities) into separate line items (post-tax)
(in euro thousand)
6/30/20
30/06/2019 restated
Chg.
Chg. %
Net interest income
953,621
1,011,305
-57,684
-5.7%
Income (loss) from investments in associates carried at equity
70,302
69,386
916
1.3%
Net interest, dividend and similar income
1,023,923
1,080,691
-56,768
-5.3%
Net fee and commission income
816,934
888,191
-71,257
-8.0%
Other net operating income
31,599
42,110
-10,511
-25.0%
Net financial result
83,472
82,447
1,025
1.2%
Other operating income
932,005
1,012,748
-80,743
-8.0%
Total income
1,955,928
2,093,439
-137,511
-6.6%
Personnel expenses
-816,979
-843,857
26,878
-3.2%
Other administrative expenses
-308,674
-330,154
21,480
-6.5%
Net value adjustments on property and equipment and intangible assets
-123,089
-131,074
7,985
-6.1%
Operating costs
-1,248,742
-1,305,085
56,343
-4.3%
Profit (loss) from operations
707,186
788,354
-81,168
-10.3%
Net adjustments on loans to customers
-476,242
-349,644
-126,598
36.2%
Profit (loss) on fair value measurement of tangible assets
-5,416
-26,782
21,366
-79.8%
Net adjustments on other assets
-8,383
25
-8,408
Net provisions for risks and charges
-7,614
-5,680
-1,934
34.0%
Profit (loss) on the disposal of equity and other investments
220
336,813
-336,593
-99.9%
Income (loss) before tax from continuing operations
209,751
743,086
-533,335
-71.8%
Tax on income from continuing operations
-39,000
-80,948
41,948
-51.8%
Systemic charges after tax
-75,684
-56,861
-18,823
33.1%
Income (loss) attributable to minority interests
1,508
4,471
-2,963
-66.3%
NET INCOME (LOSS) BEFORE THE IMPACT OF PPA AND OF THE FV ON OWN LIABILITIES
96,575
609,748
-513,173
-84.2%
Purchase Price Allocation (PPA) net of tax
-18,527
-7,162
-11,365
158.7%
FV on own liabilities net of tax
27,183
398
26,785
N.S.
NET INCOME (LOSS) FOR THE PERIOD
105,231
602,984
-497,753
-82.5%
2019 figures are restated due to the change in the accounting standard for the valuation of the Group's property and works of art.
Quarterly P&L (PPA_FVownLiab.)
BANCO BPM GROUP
Reclassified consolidated income statement with restatement of the impact of Purchase Price Allocation (PPA) and of the change in own credit risk (FV on own liabilities) into separate line items (post-tax)
(in euro thousand)
Q2 2020
Q1 2020
Q4 2019
Q3 2019 restated
Q2 2019 restated
Q1 2019 restated
Net interest income
479,507
474,114
473,959
495,805
512,117
499,188
Income (loss) from investments in associates carried at equity
48,036
22,266
33,917
27,952
32,628
36,758
Net interest, dividend and similar income
527,543
496,380
507,876
523,757
544,745
535,946
Net fee and commission income
376,371
440,563
462,167
444,065
453,673
434,518
Other net operating income
14,855
16,744
16,129
17,785
17,928
24,182
Net financial result
82,712
760
223,037
61,363
722
81,725
Other operating income
473,938
458,067
701,333
523,213
472,323
540,425
Total income
1,001,481
954,447
1,209,209
1,046,970
1,017,068
1,076,371
Personnel expenses
-397,954
-419,025
-437,052
-415,622
-417,984
-425,873
Other administrative expenses
-154,094
-154,580
-149,780
-158,632
-163,135
-167,019
Net value adjustments on property and equipment and intangible assets
-61,710
-61,379
-69,289
-68,586
-67,745
-63,329
Operating costs
-613,758
-634,984
-656,121
-642,840
-648,864
-656,221
Profit (loss) from operations
387,723
319,463
553,088
404,130
368,204
420,150
Net adjustments on loans to customers
-262,999
-213,243
-220,499
-208,387
-197,692
-151,952
Profit (loss) on fair value measurement of tangible assets
-5,094
-322
-131,012
-739
-19,306
-7,476
Net adjustments on other assets
-3,728
-4,655
1,596
4,138
3,996
-3,971
Net provisions for risks and charges
-9,809
2,195
-62,633
-2,712
-10,102
4,422
Profit (loss) on the disposal of equity and other investments
129
91
-3,638
-24
336,646
167
Income (loss) before tax from continuing operations
106,222
103,529
136,902
196,406
481,746
261,340
Tax on income from continuing operations
-13,293
-25,707
-31,745
-51,460
-24,138
-56,810
Systemic charges after tax
-18,169
-57,515
-4,495
-31,521
-15,240
-41,621
Income (loss) attributable to minority interests
1,537
-29
9,247
1,846
3,225
1,246
NET INCOME (LOSS) BEFORE THE IMPACT OF PPA AND OF THE FV ON OWN LIABILITIES
76,297
20,278
109,909
115,271
445,593
164,155
Purchase Price Allocation (PPA) net of tax
-11,962
-6,565
-3,650
-3,842
-4,700
-2,462
FV on own liabilities net of tax
-110,739
137,922
-10,487
-13,184
6,677
-6,279
NET INCOME (LOSS) FOR THE PERIOD
-46,404
151,635
95,772
98,245
447,570
155,414
2019 figures are restated due to the change in the accounting standard for the valuation of the Group's property and works of art.
P&L Adjusted
BANCO BPM GROUP
Reclassified consolidated income statement net of non-recurring items with restatement of the impact of Purchase Price Allocation (PPA) and of the change in own credit risk (FV on own liabilities) into separate line items (post-tax)
(in euro thousand)
6/30/20
30/06/2019 restated
Variaz.
Var. %
Net interest income
953,621
1,011,305
-57,684
-5.7%
Income (loss) from investments in associates carried at equity
70,302
69,386
916
1.3%
Net interest, dividend and similar income
1,023,923
1,080,691
-56,768
-5.3%
Net fee and commission income
816,934
888,191
-71,257
-8.0%
Other net operating income
31,599
42,110
-10,511
-25.0%
Net financial result
83,472
82,447
1,025
1.2%
Other operating income
932,005
1,012,748
-80,743
-8.0%
Total income
1,955,928
2,093,439
-137,511
-6.6%
Personnel expenses
-816,979
-843,857
26,878
-3.2%
Other administrative expenses
-308,674
-330,154
21,480
-6.5%
Net value adjustments on property and equipment and intangible assets
-120,974
-130,399
9,425
-7.2%
Operating costs
-1,246,627
-1,304,410
57,783
-4.4%
Profit (loss) from operations
709,301
789,029
-79,728
-10.1%
Net adjustments on loans to customers
-476,242
-349,644
-126,598
36.2%
Net adjustments on other assets
-8,383
25
-8,408
Net provisions for risks and charges
-7,614
9,632
-17,246
Income (loss) before tax from continuing operations
217,062
449,042
-231,980
-51.7%
Tax on income from continuing operations
-41,067
-103,752
62,685
-60.4%
Systemic charges after tax
-57,515
-41,621
-15,894
38.2%
Income (loss) attributable to minority interests
1,256
3,917
-2,661
-67.9%
NET INCOME (LOSS) BEFORE THE IMPACT OF PPA AND OF THE FV ON OWN LIABILITIES
119,736
307,586
-187,850
-61.1%
Purchase Price Allocation (PPA) net of tax
-18,527
-7,162
-11,365
158.7%
FV on own liabilities net of tax
27,183
398
26,785
N.S.
NET INCOME (LOSS) FOR THE PERIOD NET OF NON RECURRING ITEMS
128,392
300,822
-172,430
-57.3%
IMPATTI ESCLUSI DAL RISULTATO "ADJUSTED"
-23,161
302,162
-325,323
RISULTATO NETTO DEL PERIODO
105,231
602,984
-497,753
-82.5%
2019 figures are restated due to the change in the accounting standard for the valuation of the Group's property and works of art.
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Disclaimer
Banco BPM S.p.A. published this content on 14 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2020 16:42:03 UTC
Banco BPM S.p.A. is Italy's third largest banking group. The activity is essentially organized around 6 areas:
- private banking ;
- investment banking ;
- insurance ;
- strategic partners: consumer credit, leasing and asset management;
- finance;
- Corporate Center.
Banco BPM S.P.A. is therefore a fully-fledged financial services group which, in addition to its core commercial and retail banking activities, provides its customers with a wide range of products, financial services and value-added activities.
At the end of 2023, the group had EUR 102.5 billion in current deposits and EUR 129.3 billion in current loans.
Products and services are marketed through a network of 1,437 branches located in Italy.