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Italy's third-largest bank by branches, offering retail, corporate and investment banking, insurance and leasing, formed from a 2017 merger.
Italy's third-largest bank by branches, offering retail, corporate and investment banking, insurance and leasing, formed from a 2017 merger.
Earns mainly from lending: interest on loans to Italian households and companies above deposit costs, with fees from asset management, insurance and payments. It took over asset manager Anima in 2025, adding fee income, and France's Crédit Agricole is its largest shareholder.
In one line: An Italian regional bank, like a Fifth Third/Huntington Bancshares.
Moat: narrow (scale, distribution, customer relationships). Dense Italian branch network (Milan/Verona heritage) and asset management arm, though a domestic-only bank of moderate scale.
Headquarters: Milan, Italy · Founded: 2017 · Employees: 18,965
Size Banco BPM (BAMI.MI) is an Italy Financials company (Major Banks) with a market value of $22.8B, the 16th largest of 123 Italy companies the cockpit tracks. Shares closed at €13.45 on 6 Nov 2026.
Performance Over six months the shares gained 0.9%, against +3.6% for the median peer and +3.1% for the Italy market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 4.1% over the last twelve months (peer median +5.3%); the operating margin is 37.2% (peer median 37.5%).
Valuation It trades at 1.30× book value against a peer median of 1.43× (9th cheapest of 21).
Price implies The share price implies a return on equity of about 13.5%; Banco BPM delivers 12.5%, so the price asks more than the business earns today.
Credit Banco BPM has 26 bonds outstanding ($16.2B), rated BBB- by the agencies and trading like AAA at a weighted spread of 35 bp.
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €9.64B | €9.34B | €10.4B | €8.87B | €5.21B |
| Revenue growth | — | -10% | +17% | +70% | — |
| Net income | €1.93B | €2.08B | €1.92B | €1.26B | €685M |
| Free cash flow | €974M | €4.79B | €5.06B | €22.7B | -€478M |
| Capital expenditure | €106M | €513M | €256M | €189M | €327M |
| Total debt | n/a | €32.5B | €30.8B | €42.2B | €46.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Banco BPM BAMI.MI | $22.8B | +1% | -4% | 12% | 1.30× | 13.5% |
| UniCredit UCG.MI | $130B | +6% | +2% | 17% | 1.77× | 25.8% |
| Intesa Sanpaolo ISP.MI | $120B | +6% | -6% | 16% | 1.81× | 20.7% |
| BPER Banca BPE.MI | $30.4B | +2% | +15% | 15% | 1.49× | 18.6% |
| Credito Emiliano CE.MI | $7.48B | +26% | -2% | 12% | 1.41× | 13.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BAMI.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.9% | +1.6% | 7th lowest of 21 |
| 6-month return | +0.9% | +3.6% | 8th lowest of 21 |
| Return on equity | 12.5% | 11.0% | 8th highest of 21 |
| Price / book | 1.30× | 1.43× | 9th cheapest of 21 |
| Trailing P/E | 10.5× | 12.8× | 6th cheapest of 20 |
| ROE the price implies | 13.5% | 9.6% | 7th most demanding of 21 |
| ROE delivered | 12.5% | 11.9% | 8th highest of 18 |
| Bond spread | 35 bp | 96 bp | tightest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Banco BPM BAMI.MI | Italy | $22.8B | +1% | -4% | 12% | 1.30× | 13.5% | 12.5% |
| Bank of Nanjing 601009.SS | China | $22.8B | +5% | +6% | 12% | 0.77× | 2.8% | 11.9% |
| Hanafinancialgr 086790.KS | South Korea | $22.5B | -7% | +39% | 10% | 0.79× | 5.3% | n/a |
| KeyCorp KEY | United States | $22.0B | -3% | +9% | 11% | 1.39× | 13.1% | 11.2% |
| China Minsheng Banking 1988.HK | Hong Kong | $21.9B | -13% | -5% | 4% | 0.20× | 3.8% | 4.2% |
| Mega Financial 2886.TW | Taiwan | $24.0B | +37% | +1% | 10% | 1.97× | 5.9% | 10.0% |
| Regions Financial RF | United States | $24.1B | +2% | +1% | 12% | 1.46× | 13.2% | 12.4% |
| E Sun Financial 2884.TW | Taiwan | $25.2B | +55% | +36% | 15% | 2.70× | 7.6% | 14.7% |
| Citizens Financial CFG | United States | $26.5B | -1% | +4% | 9% | 1.16× | 11.5% | 8.9% |
| Banco de Chile Sponsored ADR BCH | United States | $19.6B | +7% | +4% | 22% | 3.15× | 13.6% | 21.8% |
| China Everbright Bank 601818.SS | China | $26.6B | +1% | -7% | 7% | 0.36× | 1.8% | n/a |
| Banco de Sabadell SAB.MC | Spain | $19.2B | +8% | -35% | 5% | 1.40× | 15.5% | 5.1% |
| Banca Mediolanum BMED.MI | Italy | $19.1B | +17% | -34% | 30% | 3.73× | 35.6% | 30.1% |
| Sumitomo Mitsui Trust Gp 8309.T | Japan | $27.4B | +38% | +5% | 11% | 1.18× | 7.5% | 10.9% |
| Banco Bradesco SA Sponsored ADR Pfd BBD | United States | $27.5B | -32% | +29% | 14% | 0.71× | 6.2% | 14.2% |
| Credicorp BAP | United States | $27.6B | +5% | +24% | 21% | 2.47× | 17.9% | 20.6% |
| First Financial 2892.TW | Taiwan | $17.8B | +44% | +5% | 11% | 1.95× | 5.8% | 10.9% |
| ShinhanGroup 055550.KS | South Korea | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% | n/a |
| mBank MBK.WA | Poland | $17.7B | +37% | -1% | 19% | 3.05× | 37.6% | 19.1% |
| Banco Santander (Brasil) S.A. Sponsored ADR BSBR | United States | $17.4B | -20% | +18% | 10% | 2.10× | 12.6% | 10.2% |
| BPER Banca BPE.MI | Italy | $30.4B | +2% | +15% | 15% | 1.49× | 18.6% | 14.9% |
Banco BPM has 26 bonds outstanding with $16.2B face value. The agencies rate it BBB-; its bonds trade like AAA. Weighted yield 3.88%, a spread of 35 bp over government bonds.