Banca Sistema SpA (MIL:BST)

Q4 2025 Banca Sistema SpA Earnings Call Transcript

Feb 6, 2026 / 01:00 PM GMT

Release Date Price: €1.67 (+0.48%)

Transcript

Key Points

Positve

Banca Sistema SpA (FRA:B2S) reported a 41% year-on-year increase in revenues, driven by a 93% growth in adjusted net interest income.
The bank achieved a 68% year-on-year increase in profits, totaling EUR 42 million, marking the best result in its history.
Gross non-performing exposures (NPEs) declined by 27% from the first quarter of 2025, with a significant 31% decrease in the fourth quarter.
The CET1 ratio and total capital ratio improved to 15.1% and 17.8%, respectively, well above the minimum capital requirements.
Cost of funding decreased to below 3% for the first time since 2023, reflecting improved funding efficiency.

Negative

Factoring turnover decreased by 13% year on year due to lower receivables from the pharma sector and reduced super bonus contributions.
Salary and pension loans outstanding decreased by 19% year on year, driven by lower volumes and repayments.
Total assets decreased by 7% year on year due to lower customer loans and super bonus loans.
Administrative costs grew by 30% year on year, including non-recurrent consultancy costs and credit-related expenses.
The CQ division continued to report a net loss, although the loss was reduced to EUR 10.4 million.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BSTA.MI - Banca Sistema SpA
Q4 2025 Banca Sistema SpA Earnings Call
Feb 06, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon everyone and thank you for joining the full year 2025 results of Bank of Systema.

Before starting the presentation, as you well know, Banca CF+ has announced a public offer for 100% of Banca Sistema shares. The offer period started on the 26th of January, and we kindly ask participants to avoid asking questions about the offer.

I am pleased to comment on a very positive set of results in 2025, which allowed the bank to register the best profits of its history.

The past year has been characterized by a strong increase in revenues and profits, a marked improvement in capital ratios higher than the level registered at the end of 2024, despite the new classification of past due registered in the first

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