Banca Monte dei Paschi di Siena (FRA:MPI0)
€ 4.934 0.107 (2.22%) Market Cap: 6.18 Bil Enterprise Value: -1.14 Bil PE Ratio: 2.88 PB Ratio: 0.60 GF Score: 43/100
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Q1 2022 Banca Monte dei Paschi di Siena SpA Earnings Call Transcript

May 06, 2022 / 07:00AM GMT
Release Date Price: €9.12 (-7.26%)
Luigi Lovaglio
Banca Monte dei Paschi di Siena S.p.A. - CEO, GM & Director

Good morning, everybody. Welcome to all of you. It is a great pleasure for me to have a front row seat in the oldest bank in the world and to have the opportunity to present to you Monte dei Paschi's first quarter results.

Let me start by saying that in this first 3 months, I have spent in Siena, focusing or understanding the organization, I have to say unnecessary complex. I have got the belief that Monte dei Paschi has a strong commercial potential. As you know, currently, I'm working together with the team on the review of the previous business plans. The results of this work will be presented on June 23. I believe that our first quarter that should be seen from this perspective.

Let's now move on to some highlights. We reported a positive result of EUR 10 million after the loss reported in Q4. We improved the coverage ratio by 283 bps in the quarter. The comparison of the profit with the first quarter of last year is influenced by some material items, which amount in total around EUR 170 million. I'm

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