Aug 06, 2024 / 07:00AM GMT
Luigi Lovaglio - Banca Monte dei Paschi di Siena SpA - Chief Executive Officer - General Manager
Good morning, everybody. Welcome to Monte Paschi first half result and business plan presentation. Today, I will first highlight some key achievements after six months of the year and then walk you through our evolving journey that combines technology with a human touch, inspired by a strategy that always revolves around our customers.
So let's start from financial results. Net profit after six months at EUR1.159 billion, of which EUR827 million in Q2 that includes a positive net tax effect of EUR450 million. Solid improvement in the operating performance is visible in gross operating profit that crossed the EUR1.1 billion increasing by 18% compared to last year and supported by EUR555 million profit in the second quarter.
The result was driven by almost double digit growth in revenues year-on-year and effective cost management that enabled us to practically absorb the impact of labor contract renewal. Cost income ratio has further improved to 46% versus 49% in first half '23.
Half Year 2024 Banca Monte dei Paschi di Siena SpA Earnings Call Transcript
Aug 06, 2024
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers