Italian Securities Commission publishes statistical bulletin showing double digit profit growth for Milan listed banks in H1 2025

The Italian Securities Commission (Consob) published its latest Statistical Bulletin on issuers, analysing the first half of 2025 financial results for Italian-law issuers listed or traded in Milan versus the same period in 2024. The bulletin reports double digit profit growth for banks, rising profits for insurers, weaker net results for non-financial corporates, and a positive performance for small and medium sized enterprises traded on Euronext Growth Milan. Banks reported aggregate profits of EUR 16.7bn, up 11.9%, alongside higher equity of EUR 191.3bn as at 30 June 2025, up 4.1% versus end-2024. A 4% decline in net interest margin after provisions, linked to the European Central Bank’s monetary easing cycle, was more than offset by growth in net fee and commission income. Insurers recorded a 5.9% increase in profits to around EUR 3bn, supported by a 4.4% rise in insurance revenue and a 35.8% reduction in selling, general and operating expenses, while sector equity fell 1.7% to EUR 42.2bn. Companies other than banks and insurers posted aggregate profits of EUR 14.8bn, down 3.4%, despite revenue growth of 5.4%, as higher operating costs and expenses weighed on net income and operating profit (EBIT), which fell 14%. SMEs traded on Euronext Growth Milan recorded total profits of EUR 178m, up 8.4%, driven mainly by a strong increase in turnover, and equity rose 0.7% versus end-2024 to EUR 5.1bn.