Banco BPM's profit rises more than expected, ups dividend

MILAN (Reuters) - Banco BPM on Tuesday confirmed its guidance on 2023 net earnings per share, while raising its dividend, after higher interest rates helped it beat market forecasts with its fourth quarter profit.

Italy's third-largest bank said its net profit for the three months through December more than doubled from a year earlier to 210 million euros ($225 million), above a 178 million-euros forecast in a Reuters analyst poll.

The bank said it expected 2023 net earnings above 60 euro cents (EPS) per share, sticking to its latest guidance which it had raised in November from a 49 euro cent EPS goal set under its business plan.

Banco BPM said it would propose a dividend per share of 23 euro cents on 2022 earnigns, up from 19 euro cents the previous year. ($1 = 0.9343 euros)

(Reporting by Andrea Mandalà, editing by Valentina Za)