Bper is "well on track" to meet year-end targets, with net interest income now seen stable (previously it was expected to decline slightly), and announces a new business plan for Oct. 10.

The bank released its first-half accounts today, which see profit up 2.8 percent to 724.2 million and net interest income up 8.9 percent to 1.682 billion. Net fees and commissions rose 4 percent to 1.015 billion, a note said.

At the end of June, Cet1 ratio was 15.3% from 14.5% in December 2023, cost income ratio at 50.6%.

For fiscal year 2024, Bper sees stable net interest income, net fee and commission income with positive dynamics, operating expenses up slightly from 2023.

It expects to maintain a slightly improved cost of credit compared to 2023. Net ordinary profitability is seen in line with last year, "net of the effect of deferred taxation," and the bank's capital strength is expected to strengthen, the note concludes.

(Claudia Cristoferi, editing Stefano Bernabei)