Banco BPM Profit Tops Estimates as Anima Deal Lifts Fees

Banco BPM reported second-quarter 2025 net profit of €703.8 million, beating the LSEG consensus of €646 million and nearly doubling the €380 million earned a year earlier. Revenue rose to €1.55 billion, slightly ahead of analysts’ €1.52 billion forecast. The Italian lender said fees climbed 9.6% to €630.3 million, benefiting from the recently acquired fund manager Anima Holding, which was consolidated for the first time in the quarter. The stronger fee income more than offset a 3.9% decline in net interest income to €785.1 million amid lower rates. Loan writedowns were contained at €88.7 million, while the common equity tier-1 ratio stood above 13.3% at end-June, underscoring capital strength. Banco BPM confirmed its guidance for full-year 2025 net results. The earnings update comes weeks after UniCredit abandoned a takeover approach for Italy’s third-largest bank following government opposition—a move that allowed Banco BPM to pursue its standalone strategy centred on fee-generating businesses such as asset management.