Banco Bpm closed 2020 with an adjusted net profit of 330 million euros. Also considering non-recurring items, profit amounted to €20,9 million, against €797 million in 2019 which however included net positive non-recurring items of €148,4 million. The interest margin rose by 0,1% to 1.982,6 million euro, while net commissions fell by 7,3% to 1.663,8 million.
Net customer loans reported an increase of 3,3% to 109,3 billion euro, while direct deposits from customers rose from 108,9 to 120,1 billion euro and the indirect one from 89,7 to 91,6 billion. As for capital ratios, the CET1 Ratio phased-in and CET1 Ratio fully phased amounted respectively to 14,6% and 13,3%.
With reference to the fourth quarter alone, Banco BPM reported a loss of 241,7 million euro compared to a profit of 157,3 million in the previous three months, but net of non-recurring items the net result was positive by 66,6 million euros. The interest margin amounted to 509 million euro, against 519,9 million in the third quarter, while net commissions rose from 417,7 to 429,2 million euro.
On the basis of these results, the Board of Directors of the bank led by Giuseppe Castagna has decided to propose, in line with the indications of the ECB, the distribution of a dividend of 6 cents per share equal to a total of 90,9 million euros. Comparing the value of the coupon to today's close prices of Banco BPM, which stopped at 2,174 euro, a yield of 2,76% is obtained.
