Banco BPM profit jumps on Anima boost after UniCredit drops bid
The bank posted net profit of €703.8 million ($815 million) for the quarter, up from €380 million a year earlier and ahead of some analyst forecasts. The results mark the first quarter to include contributions from Anima, which Banco BPM acquired as it sought to block UniCredit's approach.
Revenue came in at €1.55 billion, in line with expectations. A 9.6% rise in fee income helped offset a 3.9% drop in net interest income, reflecting pressure from lower interest rates.
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