Banca Monte dei Paschi di Siena SpA Q1 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ignacio Ulargui - BNP Paribas Exane - Analyst : Thanks very much for the presentation and for taking my questions. I have two questions if I may. The first one, it's on the, a strong commercial performance in one, which was quite solid. How should we think about growth going forward? How, I mean, do you think that there's still more potential? Of growth coming both on lending and on the especially on the deposits and, asset management side and also wanted was curious about how the margins on this new production has been compared to the back book whether you are finding it profitably the growth. The second question is on on capital I mean. What is the rationale to have such a strong capital buffer, and could you consider to distribute more to the holders. Just a one con clarification if I may on the CD1 ratio pro forma shouldn't we expect the trans the translation of the increase in capital in the quarter to translate to the combined media bank account, Monte dei Paschi of 16 being above 17. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 08, 2025 / 9:30AM, BMPS.MI - Q1 2025 Banca Monte dei Paschi di Siena SpA Earnings Call Thank you.

Question: Ignacio Ulargui - BNP Paribas Exane - Analyst : Thank you very much.

Question: Giovanni Razzoli - Deutsche Bank - Analyst : Good morning to everybody. Two questions. One again on the very strong CQ1 ratio, on a stand-alone basis, which expected to grow further in the next couple of quarters, so you would be in the condition to approach a 20%, sooner, is my understanding correct? Or do you see growing the volumes of some, headwinds which may prevent this trajectory. And the second question on the Medibank and Baer general transaction. Are there any read across between the outcome of the Me Baer general meeting which has been called to approve the the offer on Banker Generali and your offer. Thank you.

Question: Luis Pratas - Autonomous Research - Analyst : Hi there. Thank you for taking my questions. My first one is as well on the Media banker generally offer. I want to understand better your strategic flexibility in this scenario that Media bank shareholders approved the Banker Generale offer and you gain control of Media Bank afterwards. Can you actually stop the banker Generale offer if you want to? And related to this, as you calculate the incremental capital capital impact of doing the banker generality transaction under the same terms offered by Media banker in case once again you gain control of Mediabank afterwards. And then more about your business plan. Eees accelerated this quarter, year on year growth was around 7%. I had of the business plan run rate. I do expect this line to involve in the rest of 2025. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 08, 2025 / 9:30AM, BMPS.MI - Q1 2025 Banca Monte dei Paschi di Siena SpA Earnings Call Thank you.

Question: Luis Pratas - Autonomous Research - Analyst : The second question is on fees. It's basically, it's it's regarding the guidance of 2025, you could, if you could give your expectations for the rest of the year since it started very well in Q1.

Question: Luis Pratas - Autonomous Research - Analyst : Okay, thank you. And maybe, can I just do a quick follow up on the full year guidance, I wanted to confirm if the clear guidance of 2025 is still to achieve a pre-tax profit of at least in line with 2024, so the 1.4 billion, or are you in a, can you actually even be above this level? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 08, 2025 / 9:30AM, BMPS.MI - Q1 2025 Banca Monte dei Paschi di Siena SpA Earnings Call

Question: Luis Pratas - Autonomous Research - Analyst : Sounds good. Thank you.

Question: Andrea Lisi - Equita SIM S.p.A. - Analyst : Hi to everybody. Thank you for taking my questions. The first one is, on, the evolution of, the commercial dynamics in terms, of, inflows in that collection that, you have observed, in April and, which strand. Do you expect going on. And if you can provide us, a detail regarding the investment fees on the contribution of any upfront or performance fees that contributed to total investment fees in the first quarter. The, second question is on, the NII, in particular, if you confirm the sensitivity you have provided. Previously, and, which, trend of volumes, in terms of loan evolution are, do you expect also regarding the current, scenario and, the feeling you have regarding, how your clients are approaching, for new landing and if, 2026 and I and II given the current curve is seen above or below, the 2025 levels. Then, just a clarification regarding that day, your offer on Medi bank account, in particular regarding the the success threshold of the 67%. It is a threshold that you can be waived. Do you have any detail regarding a potential minimum threshold condition or you're just still committed to stay above 67 and so on. Thank you.

Question: Hugo Cruz - Keefe, Bruyette & Woods - Analyst : Hi, can you hear me? Sorry, hi, can you hear me? I wanted to thank you. Thanks for the time. I wanted to ask about your M&A strategy. It sounds to me from what you said that if you succeed with Media Baer, you won't stop there and you want to pursue the next stage of consolidation. So I wanted to understand what that means exactly. Do you think there could be further, do you see yourself as a buyer or as a target in that second round? How concentrated do you think the Italian market could end up being in say 5 years' time? Thank you.