Net profit at around €0,9 billion in 2017, increase in net interest income of €390 million compared to the annualized figure for the first 9 months of 2013, increase in fees of €767 million compared to 2012 (+8% annual average), cost cutting operating costs of 713 million compared to 2012 (4,8% annual average) and an improvement in the cost of credit with a 2017 target of 90 basis points.
These are some of the main objectives set by MPS in the business plan updated to 2017 approved today. The bank also announces that it intends to continue with "its risk containment policy through the reduction of the government securities portfolio in assets available for sale from 23 to 17 billion euro". In 2017, as stated in the plan, Banca Monte dei Paschi di Siena will go from 2.750 to 2.200 branches, from 31 (data at the end of 2011) to 23 employees, with a turnover per employee growing from 165 to 225 euros, a cost/ income from 66% to 50% and with 10% of digital customers, against the current 1%.
