(ANSA) – MILAN, NOV 27 – Mps profits continue to grow and the bank is ahead of the objectives of the strategic plan, they also improve the situation of legal risks, the quality of credit and the level of capitalization, while the stress tests “they turn out to be an exercise outdated by facts”. This is what emerges from the analysis drawn up by the First Cisl Studies Office on the accounts of the Tuscan banking group in the first nine months of the year.
According to the union, “the capital increase is necessary to bring new revenues through the expansion of credit, a path that, through the improvement of the interest margin, must lead the bank to bridge the gap that separates it from its competitors”. Instead, the hypothesis of new staff cuts was rejected.
The First CISL Research Department recalls that the MPS strategic plan foresaw a loss for this year and a substantial balance sheet for 2022, but the result as at 30 September, which sees the profit at 388 million, “clearly shows that the reference framework has changed, to the point that the stress tests published at the end of July are to be considered already outdated “. In fact, in the base scenario, a profit of 28 million in profit at the end of 2021 was expected and the level of capitalization was given a worsening, with the CET1 ratio transitional down from 12.1% to 11.2%, while instead recorded an increase to 12.8%.
The agreement with the MPS Foundation could also reduce the volume of legal disputes and out-of-court compensation claims from 10 to 6 billion, according to the First Cisl study.
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Source From: Ansa
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