Pop Sondrio sees 2023 net profit "well beyond" plan estimates - letter to shareholders

Banca Popolare di Sondrio anticipates a 2023 budget closing with a net profit "well beyond" business plan estimates.

This is what is stated in the usual letter at the beginning of the year sent by the president and CEO to the institution's shareholders.

"We are able to anticipate, while waiting to pull the strings of the accounts as of December 31, that the group's net profit for the year is well above the forecasts of the current corporate business plan, confirming its full validity," the letter reads.

The ex-popular bank, which has recently returned to the center of market attention as a possible M&A target, stresses the high levels of capitalization achieved, even in 2023, "at the top of the system," and the high quality of assets.

"The performance of loans has been scrupulously and methodically monitored, tracking credit positions, day by day, in order to prevent and avoid harmful surprises: vigilance has been the watchword," the top management adds.

Pop Sondrio will convene the BoD to approve the 2023 results on Feb. 6.

(Andrea Mandalà, editing Sabina Suzzi)