Ps archive 2020 with a net loss of 1,689 billion. This was communicated by the Bank, specifying that the negative non-operating components include 984 million in provisions for risks and charges and 154 million in restructuring charges linked to Hydra and the redundancy of personnel which took place in the fourth quarter. In 2019, the net loss was 1,033 billion.
In the last financial year Montepaschi achieved total revenues for 2,917 billion, down 11,2% on an annual basis. The interest margin stood at 1,291 billion, down 14%, e the gross operating result to 714 million, from 994 million in 2019. The net operating result it is negative for approximately 39 million compared to a positive value equal to 406 million recorded the previous year.
The MPS capital plan, which envisages a strengthening of 2,5 billion in the event that it fails to find a partner, "it is currently being examined by the ECB awaiting formal approval and provides for 100% equity", explained the CEO, Guido Bastianini, during the conference call with analysts. “We communicated a few days ago that we are absolutely not considering issuing subordinated bonds. If we were to resort toincrease and minorities should not participate, our banks are willing to cover the remainder".
Furthermore, in the MPS press release, it reiterates that, "in the event that the implementation of a structural solution does not take place in the short/medium term, the capital plan envisages a capital strengthening of 2,5 billion which, if implemented, is envisaged take place under market conditions e with the pro-quota participation of the Italian State, for which he has already confirmed his full support". However, the green light from the EU and the ECB would be needed: "The capital strengthening operation - continues the note - suffers from certain uncertainties as it requires the conclusion of the evaluation and approval process already started by DG Comp and the ECB".
Going back to last year's numbers, collection volumes total amounted to 205,8 billion, with an increase compared to 30 September 2020 of 7,8 billion, both on direct deposits (+5,3 billion) and on indirect deposits (+2,5 billion). The aggregate also grew compared to 2019 (+9,8 billion) thanks above all to the increase in direct deposits (+9,5 billion).
On the balance sheet side, as at 31 December 2020 the Common Equity Tier 1 Ratio of the MPS group stood at 12,1% compared to 14,7% at the end of 2019, and the Total Capital Ratio at 15,7%, from 16,7% recorded at the end of December 2019.
