Banco BPM (BAMI) Corporate presentation summary

Business model transformation and profitability

• Achieved €2.08bn net income in 2025, surpassing guidance and marking a 20% year-on-year increase, with proforma net income above €2.1bn due to Anima integration.

• CET1 ratio at 13.76% (proforma), well above the 13% plan minimum, with strong organic capital generation and robust liquidity metrics.

• Non-NII revenues reached 51% of total, cost/income ratio improved to 46%, and gross NPE ratio declined to 2.2%.

• Shareholder remuneration for 2024/2025 totaled ~€3bn, achieving 50% of the strategic plan’s cumulative target.

Strategic plan and growth drivers

• 2027 net income target set at €2.15bn, with >€7.7bn cumulative net income and >€6bn shareholder remuneration for 2024-2027.

• Plan pillars include omnichannel reinforcement, tech innovation, balance sheet consolidation, and integration of Anima for additional earnings.

• Indirect funding and AuM growth prioritized, with indirect funding CAGR at 5.7% and AuM remix supported by favorable rates.

Asset quality and risk management

• Gross NPL ratio reduced to 2.2%, net NPE ratio at 1.2%, and net bad loan ratio at 0.1%, with high coverage and low vintage.

• Cost of risk declined to 40bps, supported by prudent credit management and frontloaded NPE disposals.

• Default rate fell to 0.84%, with Stage 2 loans at 8% of total performing loans.