Monte dei Paschi di Siena (MPS) closed the first nine months of the year with a net profit of €1,366 million, down 12.7% from the same period in 2024 but beating estimates, the world's oldest continually operating lender said Friday.
    Net of tax effects—2024 benefited from tax benefits of €470 million compared to €78 million this year—the result is up 17.5%.

In the third quarter, profit rose 16.5% to €474 million, beating analysts' expectations of €366 million.
    MPS said it will present its new business plan, which will take into account the acquisition of premier merchant bank Mediobanca, during the first quarter of 2026.
    Following the acquisition of Mediobanca, MPS is poised to expand abroad, MPS CEO Luigi Lovaglio said in a conference call.
    "We believe Compass has the potential to expand internationally; they have the expertise, the technology, and an excellent track record.
    "This is an option we will consider in the near future.

I believe there are also excellent opportunities in private banking and investment banking." For Mediobanca's private banking and CIB businesses, "there will be the opportunity to grow not only in Italy but also abroad.
    That's why we're ready to explore new markets and new revenue streams."
   

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