Monte dei Paschi di Siena (MPS) closed the first nine months of the year with a net profit of €1,366 million, down 12.7% from the same period in 2024 but beating estimates, the world's oldest continually operating lender said Friday.
Net of tax effects—2024 benefited from tax benefits of €470 million compared to €78 million this year—the result is up 17.5%.
In the third quarter, profit rose 16.5% to €474 million, beating analysts' expectations of €366 million.
MPS said it will present its new business plan, which will take into account the acquisition of premier merchant bank Mediobanca, during the first quarter of 2026.
Following the acquisition of Mediobanca, MPS is poised to expand abroad, MPS CEO Luigi Lovaglio said in a conference call.
