BPER Banca

BPER Banca's price/earnings (P/E) rose 21,755% yoy to 747 in 4Q2019

By Helgi Analytics - February 19, 2020

BPER Banca stock traded at EUR 4.48 per share at the end fourth quarter of 2019 implying a market capitalization of USD 2,619 mil. Sinc...

BPER Banca's employees rose 18.9% yoy to 13,805 in 4Q2019

By Helgi Analytics - February 19, 2020

BPER Banca employed 13,805 persons in 2019-12-31, down 0.755% when compared to the previous year. Historically, the bank's workf...

BPER Banca's capital adequacy ratio fell 2.49% yoy to 16.8% in 4Q2019

By Helgi Analytics - February 19, 2020

BPER Banca's capital adequacy ratio reached 16.8% at the end of fourth quarter of 2019, up from 16.2% when compared to the previo...

Profit Statement 2017 2018 2019
Net Interest Income EUR mil 1,137 1,157 1,179
Net Fee Income EUR mil 741 776 ...
Other Income EUR mil 204 292 ...
Total Revenues EUR mil 2,081 2,225 2,274
Staff Cost EUR mil 783 821 1,050
Operating Profit EUR mil 686 693 724
Provisions EUR mil 536 226 448
Net Profit EUR mil 72.8 481 192
Balance Sheet 2017 2018 2019
Interbank Loans EUR mil 3,013 3,509 2,322
Customer Loans EUR mil 47,815 52,545 52,006
Debt Securities EUR mil 15,331 9,602 18,983
Total Assets EUR mil 71,339 70,635 79,034
Shareholders' Equity EUR mil 5,717 4,897 5,292
Interbank Borrowing EUR mil 15,302 15,810 12,379
Customer Deposits EUR mil 40,545 42,056 52,221
Issued Debt Securities EUR mil 7,504 5,402 5,835
Ratios 2017 2018 2019
ROE % 1.29 9.07 3.76
ROA % 1.47 1.38 1.38
Costs (As % Of Assets) % 2.99 3.05 2.97
Costs (As % Of Income) % 67.1 68.8 68.2
Capital Adequacy Ratio % 16.7 17.3 16.8
Net Interest Margin % 1.67 1.63 1.58
Loans (As % Of Deposits) % 118 125 99.6
NPLs (As % Of Loans) % 19.8 12.5 11.1
Provisions (As % Of NPLs) % 50.8 57.0 53.7
Valuation 2017 2018 2019
Market Capitalisation (End Of Period) USD mil 2,434 1,852 2,619
Share Price (End Of Period) EUR 4.21 3.36 4.48
Price/Earnings (P/E) 27.8 3.36 11.2
Price/Book Value (P/BV) 0.354 0.330 0.407
Dividend Yield % 2.61 3.86 3.12
Earnings Per Share (EPS) EUR 0.151 1.00 0.399
Book Value Per Share EUR 11.9 10.2 11.0
Dividend Per Share EUR 0.110 0.130 0.140

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summary Unit 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                                
Net Interest Income EUR mil                                                   1,314 1,311 1,243 1,180 1,137    
Total Revenues EUR mil                                                   2,321 2,346 2,498 2,181 2,081    
Operating Profit EUR mil                                                   975 992 1,159 750 686    
Net Profit EUR mil                                                   46.6 64.4 363 89.4 72.8    
balance sheet                                                                
Interbank Loans EUR mil                                                   1,635 1,832 1,087 1,332 3,013    
Customer Loans EUR mil                                                   46,467 43,797 43,703 45,494 47,815    
Debt Securities EUR mil                                 ... ... ... ... ...         8,915 10,059 11,369 13,521 15,331    
Total Assets EUR mil                                                   61,758 60,653 61,261 64,957 71,339    
Shareholders' Equity EUR mil                                                   4,712 5,510 5,652 5,556 5,717    
Interbank Borrowing EUR mil                                                   9,239 7,542 7,408 11,470 15,302    
Customer Deposits EUR mil                                                   32,311 32,902 34,025 37,133 40,545    
Issued Debt Securities EUR mil                                                   10,187 10,518 10,495 8,587 7,504    
ratios                                                                
ROE % ...                                                 0.983 1.26 6.51 1.60 1.29    
ROA % ...                                                 2.07 2.20 2.65 1.68 1.47    
Costs (As % Of Assets) % ...                                                 2.85 3.00 3.06 3.21 2.99    
Costs (As % Of Income) %                                                   58.0 57.7 53.6 65.6 67.1    
Capital Adequacy Ratio % ... ... ... ... ...       ... ...             ...   ...             11.9 12.2 12.5 15.2 16.7    
Net Interest Margin % ...                                                 2.13 2.14 2.04 1.87 1.67    
Interest Income (As % Of Revenues) %                                                   56.6 55.9 49.8 54.1 54.6    
Fee Income (As % Of Revenues) %                                                   30.1 29.4 29.1 32.7 35.6   ...
Staff Cost (As % Of Total Cost) %                                                   58.5 58.1 61.7 53.8 56.1    
Equity (As % Of Assets) %                                                   10.1 12.6 12.9 12.2 12.0    
Loans (As % Of Deposits) %                                                   144 133 128 123 118    
Loans (As % Assets) %                                                   75.2 72.2 71.3 70.0 67.0    
NPLs (As % Of Loans) % ...                               ... ...               20.2 22.7 23.3 22.1 19.8    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ...             ... ...               39.6 42.6 46.1 46.2 50.8    
valuation                                                                
Market Capitalisation (End Of Period) USD mil ... ... ... ...                                           3,190 3,180 3,678 2,566 2,434    
Number Of Shares (Average) mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   370 362 481 481 481    
Share Price (End Of Period) EUR ... ... ... ...                                           6.30 5.47 7.04 5.06 4.21    
Earnings Per Share (EPS) EUR ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   0.125 0.178 0.755 0.186 0.151    
Book Value Per Share EUR ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   12.7 15.2 11.8 11.6 11.9    
Dividend Per Share EUR ... ... ...                                             0 0 0.100 0.060 0.110    
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   50.6 30.7 9.32 27.2 27.8    
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   0.495 0.359 0.599 0.438 0.354    
Dividend Yield % ... ... ... ...                                           0 0 1.42 1.19 2.61    
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 133 43.0 324 -75.4 -18.6    
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 -0.658 19.4 -22.8 -1.70 2.90    
income statement Unit 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                                                
Interest Income EUR mil                                                   2,085 1,928 1,664 1,493 1,429   ...
Interest Cost EUR mil                                                   771 616 421 313 292   ...
Net Interest Income EUR mil                                                   1,314 1,311 1,243 1,180 1,137    
Net Fee Income EUR mil                                                   698 691 727 713 741   ...
Other Income EUR mil                                                   309 344 527 288 204   ...
Total Revenues EUR mil                                                   2,321 2,346 2,498 2,181 2,081    
Staff Cost EUR mil                                                   787 787 825 769 783    
Depreciation EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   41.4 40.9 37.8 45.7 38.1    
Other Cost EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                   517 526 475 616 574    
Operating Cost EUR mil                                                   1,346 1,353 1,338 1,431 1,395    
Operating Profit EUR mil                                                   975 992 1,159 750 686    
Provisions EUR mil                                                   782 813 706 620 536    
Extra and Other Cost EUR mil                                                   67.5 49.2 32.4 25.0 30.6    
Pre-Tax Profit EUR mil                                                   126 131 421 105 119    
Tax EUR mil                                                   70.5 51.1 59.5 14.1 45.9    
Minorities EUR mil                                                   8.94 15.0 -1.43 1.52 0.444    
Net Profit EUR mil                                                   46.6 64.4 363 89.4 72.8    
Dividends EUR mil                                                   0 0 48.1 28.9 52.9    
growth rates                                                                
Net Interest Income Growth % ...                                                 -0.036 -0.219 -5.16 -5.08 -3.68    
Net Fee Income Growth % ...                                                 -1.37 -1.09 5.22 -1.92 3.92   ...
Total Revenue Growth % ...                                                 -0.794 1.06 6.47 -12.7 -4.57    
Operating Cost Growth % ...                                                 3.40 0.533 -1.11 6.93 -2.48    
Operating Profit Growth % ...                                                 -6.05 1.78 16.8 -35.3 -8.55    
Pre-Tax Profit Growth % ...                                                 213 3.57 223 -75.1 13.4    
Net Profit Growth % ...                                                 117 38.4 464 -75.4 -18.6    
balance sheet Unit 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                                                
Cash EUR mil                                                   489 451 390 365 420    
Interbank Loans EUR mil                                                   1,635 1,832 1,087 1,332 3,013    
Customer Loans EUR mil                                                   46,467 43,797 43,703 45,494 47,815    
Retail Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         34,582 32,713 32,525 33,561 35,777   ...
Mortgage Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         25,559 24,896 25,082 26,488 28,784   ...
Consumer Loans EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...         9,023 7,817 7,443 7,073 6,993   ...
Debt Securities EUR mil                                 ... ... ... ... ...         8,915 10,059 11,369 13,521 15,331    
Fixed Assets EUR mil                                                   1,022 1,029 941 969 1,063    
Intangible Assets EUR mil ... ... ... ... ... ... ... ... ...                                 491 498 515 518 507    
Goodwill EUR mil ... ... ... ... ... ... ... ... ... ... ... ...         ...                 380 380 380 362 327    
Total Assets EUR mil                                                   61,758 60,653 61,261 64,957 71,339    
Shareholders' Equity EUR mil                                                   4,712 5,510 5,652 5,556 5,717    
Of Which Minority Interest EUR mil                                                   679 640 627 674 653    
Liabilities EUR mil                                                   57,046 55,143 55,609 59,401 65,622    
Interbank Borrowing EUR mil                                                   9,239 7,542 7,408 11,470 15,302    
Customer Deposits EUR mil                                                   32,311 32,902 34,025 37,133 40,545    
Sight Deposits EUR mil                                     ...             26,180 27,487 29,019 32,331 35,286   ...
Term Deposits EUR mil                                 ... ... ...             3,739 2,969 2,424 2,220 2,456   ...
Issued Debt Securities EUR mil                                                   10,187 10,518 10,495 8,587 7,504    
Subordinated Debt EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Other Liabilities EUR mil                                                   5,310 4,181 3,682 2,212 2,270    
asset quality                                                                
Non-Performing Loans EUR mil ...                               ... ...               10,214 10,998 11,395 11,174 10,532    
Gross Loans EUR mil                                 ... ...               50,508 48,479 48,955 50,655 53,169    
Total Provisions EUR mil ... ... ... ... ... ... ... ... ... ...             ... ...               4,041 4,682 5,253 5,160 5,355    
growth rates                                                                
Customer Loan Growth % ...                                                 -3.08 -5.75 -0.215 4.10 5.10    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       -0.576 -5.40 -0.574 3.18 6.60   ...
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       1.16 -2.59 0.748 5.60 8.67   ...
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       -5.18 -13.4 -4.79 -4.98 -1.13   ...
Total Asset Growth % ...                                                 0.195 -1.79 1.00 6.03 9.82    
Shareholders' Equity Growth % ...                                                 -1.08 16.9 2.57 -1.70 2.90    
Customer Deposit Growth % ...                                                 4.40 1.83 3.41 9.13 9.19    
ratios Unit 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                                                                
ROE % ...                                                 0.983 1.26 6.51 1.60 1.29    
ROA % ...                                                 2.07 2.20 2.65 1.68 1.47    
Costs (As % Of Assets) % ...                                                 2.85 3.00 3.06 3.21 2.99    
Costs (As % Of Income) %                                                   58.0 57.7 53.6 65.6 67.1    
Capital Adequacy Ratio % ... ... ... ... ...       ... ...             ...   ...             11.9 12.2 12.5 15.2 16.7    
Tier 1 Ratio % ... ... ... ... ...   ... ... ... ...             ...   ...             8.62 11.3 11.3 13.9 14.0    
Net Interest Margin % ...                                                 2.13 2.14 2.04 1.87 1.67    
Interest Spread % ...                                                 2.03 2.05 1.97 1.82 1.63   ...
Asset Yield % ...                                                 3.38 3.15 2.73 2.37 2.10   ...
Cost Of Liabilities % ...                                                 1.35 1.10 0.760 0.544 0.467   ...
Payout Ratio %                                                   0 0 13.2 32.3 72.7    
Interest Income (As % Of Revenues) %                                                   56.6 55.9 49.8 54.1 54.6    
Fee Income (As % Of Revenues) %                                                   30.1 29.4 29.1 32.7 35.6   ...
Other Income (As % Of Revenues) %                                                   13.3 14.7 21.1 13.2 9.78   ...
Cost Per Employee USD per month                                                   7,434 7,289 6,885 5,906 6,291    
Cost Per Employee (Local Currency) EUR per month                                                   5,600 5,655 6,006 5,509 5,603    
Staff Cost (As % Of Total Cost) %                                                   58.5 58.1 61.7 53.8 56.1    
Equity (As % Of Assets) %                                                   10.1 12.6 12.9 12.2 12.0    
Loans (As % Of Deposits) %                                                   144 133 128 123 118    
Loans (As % Assets) %                                                   75.2 72.2 71.3 70.0 67.0    
NPLs (As % Of Loans) % ...                               ... ...               20.2 22.7 23.3 22.1 19.8    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ...             ... ...               39.6 42.6 46.1 46.2 50.8    
Provisions (As % Of Loans) % ... ... ... ... ... ... ... ... ... ...             ... ...               8.70 10.7 12.0 11.3 11.2    
Cost of Provisions (As % Of Loans) % ...                                                 1.66 1.80 1.61 1.39 1.15    
other data Unit 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                                                                
Branches ... ... ... ... ... ... ... ... ... ... ...                       ...     1,307 1,273 1,216 1,200 1,218    
Employees                                                   11,718 11,593 11,447 11,635 11,653    
Sight (As % Of Customer Deposits) %                                     ...             81.0 83.5 85.3 87.1 87.0   ...
Risk-Weighted Assets EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...             42,965 40,692 40,102 32,593 32,573    
Return on Loans % ...                                                 0.099 0.143 0.830 0.201 0.156    
Operating Profit (As % of Loans) % ...                                                 2.07 2.20 2.65 1.68 1.47    
Costs (As % Of Loans) % ...                                                 2.85 3.00 3.06 3.21 2.99    
Equity (As % Of Loans) %                                                   10.1 12.6 12.9 12.2 12.0    

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BPER Banca's net profit fell 99.4% yoy to EUR 0.741 mil in 4Q2019

By Helgi Analytics - February 19, 2020

BPER Banca made a net profit of EUR 0.741 mil under revenues of EUR 631 mil in the fourth quarter of 2019, down 99.4% and up 50.8% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time high of ...

BPER Banca's npls (as % of loans) fell 11.1% yoy to 11.1% in 4Q2019

By Helgi Analytics - February 19, 2020

BPER Banca's non-performing loans reached 11.1% of total loans at the end of 2019-12-31, down from 12.5% compared to the previous year. Historically, the NPL ratio hit an all time high of 23.5% in 2015-09-30 and an all time low of 1.40% in 2007-12-31. Provi...

BPER Banca's market capitalisation (end of period) rose 40.9% to USD 2,619 mil in 4Q2019

By Helgi Analytics - February 19, 2020

BPER Banca stock traded at EUR 4.48 per share at the end of fourth quarter of 2019 implying a market capitalization of USD 2,619 mil. Over the last five years, the stock has depreciated by 18 implying an annual average growth of -3.88% In absolute terms, ...

BPER Banca's customer loan growth fell 110% yoy to -1.03% in 4Q2019

By Helgi Analytics - February 19, 2020

BPER Banca's customer loan growth reached -1.03% in 2019-12-31, down from 9.89% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 19.8% in 2019-09-30 and an all time low of -5.80% in 2014-03-31. In the last d...

BPER Banca's equity (as % of assets) fell 3.42% yoy to 6.70% in 4Q2019

By Helgi Analytics - February 19, 2020

BPER Banca's Equity reached 12.5% of total assets in the 4Q2019, up from 12.1% for the previous year. As a share of net customer loans, the ratio amounted to 22.4% at the end of the fourth quarter of 2019. ...

BPER Banca's capital adequacy ratio fell 2.49% to 16.8% in 2019

By Helgi Analytics - February 19, 2020

BPER Banca's capital adequacy ratio reached 16.8% at the end of 2019, down from 17.3% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 17.3% in 2018 and an all time low of 8.32% in 2005. The Tier 1 ratio amounted t...

BPER Banca's employees rose 18.9% to 13,805 in 2019

By Helgi Analytics - February 19, 2020

BPER Banca employed 13,805 persons in 2019, up 18.9% when compared to the previous year. Historically, the bank's workforce hit an all time high of 13,805 persons in 2019 and an all time low of 5,577 in 1999. Average cost reached USD 7,421 per month per employee,...

BPER Banca's costs (as % of assets) fell 2.87% to 2.97% in 2019

By Helgi Analytics - February 19, 2020

BPER Banca's cost to income ratio reached 68.2% in 2019, down from 68.8% compared to the previous year. Historically, the bank’s costs reached an all time high of 69.2% of income in 2001 and an all time low of 53.6% in 2015. When compared to total assets, ...

BPER Banca's net profit fell 60.2% to EUR 192 mil in 2019

By Helgi Analytics - February 19, 2020

BPER Banca made a net profit of EUR 192 mil under revenues of EUR 2,274 mil in 2019, up -60.173769960484% and 2.205062744957% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of EUR 481 mil in 2018 and an all time l...

BPER Banca's npls (as % of loans) fell 11.1% to 11.1% in 2019

By Helgi Analytics - February 19, 2020

BPER Banca's non-performing loans reached 11.1% of total loans at the end of 2019, down from 12.5% compared to the previous year. Historically, the NPL ratio hit an all time high of 23.3% in 2015 and an all time low of 1.40% in 2007. Provision coverage amou...

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