The MPS plan provides for a 2.5 billion euro capital increase to be carried out in 2022. This was announced by the institute.
Mps provides for the activation of a plan for the voluntary departure of personnel, with cost savings of approximately 275 million euros per year.
Most of these savings could be realized by 2024, depending on negotiations with trade unions.
The MPS plan for 2026 provides for initiatives to support growth, with immediate and tangible transformation efforts that will lead to constant profitability and capital benefits: in particular, the bank note reads, a pre-tax profit is expected already in 2024 of 700 million euros, a cost-income ratio below 60%, a cost of risk of 50 basis points, a return on tangible capital of approximately 8.5-9% in 2024 (to rise to 11 % in 2026) and a Fully loaded Cet1 ratio higher than 14% in 2024 and equal to approximately 17.5% in 2026, before dividends and before the positive effect of the revaluation of the DTAs deriving from the plan.