Banco BPM lifts payout, bets on fees under new business plan
Italy’s Banco BPM said
it would increase dividend payments under a new strategic plan,
betting on higher fees and falling loan loss charges to drive
profit to 770 million euros ($856 million) in 2023.
Italy’s third-largest bank, born in 2017 from the merger of
two mid-sized cooperative lenders, said it was raising its
dividend payout to more than 40% and would pay at least 800
million euros in cash dividends to investors through 2023.
it would increase dividend payments under a new strategic plan,
betting on higher fees and falling loan loss charges to drive
profit to 770 million euros ($856 million) in 2023.
Italy’s third-largest bank, born in 2017 from the merger of
two mid-sized cooperative lenders, said it was raising its
dividend payout to more than 40% and would pay at least 800
million euros in cash dividends to investors through 2023.
Posted by Reuters
