MPS, revenue boom (+21.7%). Profits skyrocketing to over 2 billion euros in 2023, dividends return after more than 10 years
Mps closes 2023 with a useful of 2,052 million euros compared to a loss of 178 million in 2022 and returns to distribute a dividend two years ahead of the plan target: la coupon will be equal to 0.25 euros per share, for a total of 315 million. This is what emerges from the preliminary consolidated results as of 31 December 2023.
As of 31 December 2023, the Group has achieved total revenues for 3,797 million euros, an increase of 21.7% compared to the previous year. This dynamic is attributable to the growth in the interest margin, underlines the note Mpswhich benefits, on the lending front, from the favorable interest rate scenario, in a context of careful monitoring of the cost of funding.
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The positive trend of interest margin it more than compensated for the lower contribution of net commissions (recorded above all on the proceeds of savings management, due to the changed market scenario) and other revenue components. THE revenues of the fourth quarter of 2023 amount to 993 million euros, up compared to the previous quarter (+4.1%) driven by net commissions (+5.9%) against an almost stable interest margin.
The gross operating profit of the Group is equal to 1,954 million euros, almost doubled compared to the result of 1,012 million euros recorded at 31 December 2022. The result of the fourth quarter (equal to 508 million euros) is substantially in line with the previous quarter (equal to to 509 million euros).
Mps he ended 2023 with a Cet1 ratio fully loaded to 18.1%, an improvement of 248 basis points. There financial solidityunderlines the note accompanying the income statement, places the institute at the top of the system.
As regards the total commercial collection it grew by 9.7 billion euros from the beginning of the year (+6.6% on year), with a positive trend also visible in the 4th quarter (+3.5%) confirming the strength of the network, underlines the note . The cost of risk for the year is equal to 57 basis points, in line with the guidance stock of gross impaired loans stable in the quarter at 3.5 billion euros.
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MPS: closes 2023 with Cet 1 at 18.1%, at the top of the system
The MPS net worth at the end of 2023 it was equal to 10 billion, an increase of 1.2 billion compared to 30 September, mainly due to the positive result recorded in the quarter, underlines the note.
Maurizio Bai appointed as new Deputy General Sales Manager and Deputy
The Board of Directors of MPS Bank approved the appointment of Maurizio Baicurrent Chief Commercial Officer for Business and Private, to Deputy General Director of Commercial and Deputy, with responsibility for Retail and Business and Private Management, “in order to strengthen the commercial control of the market and guarantee the further acceleration of the Bank's growth path taking into account the prospective framework”. This is what we read in the note on the group's results.
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