Banco di Desio e della Brianza (BDB) H1 2026 earnings summary

Executive summary

• Consolidated net profit for H1 2026 reached €76.1 million, up 8.0% year-over-year, with annualized ROE at 9.8%.

• Operating income rose 8.5% to €324.6 million, driven by higher net commissions and interest income.

• Cost/income ratio improved to 55.9% from 59.3% in H1 2025.

• Acquisition of SCM SIM completed, expanding asset management capabilities.

• Operating margin rose to €143 million, supported by strong growth in net commissions and improved cost/income ratio.

Financial highlights

• Net interest income for H1 2026 was €181.5 million, up 2.8% year-over-year.

• Net commissions grew 17.9% year-over-year to €126.8 million.

• Operating expenses increased 2.4% year-over-year to €181.6 million.

• Operating income reached €324.6 million (+8.5% YoY).

• Cost of credit rose to €19.2 million (+72.6% YoY).

Outlook and guidance

• Positive momentum in indirect funding, especially in Wealth Management, and continued growth in customer loans.

• Supervisory authority confirmed transitional period for MREL requirements until 1 January 2027.

• Focus remains on profitability, capital strength, innovation, and ESG integration.

• Main risks include inflation trends and geopolitical tensions, especially in the Middle East.

• No additional subordination requirements attached to MREL.