EarningsBanca Sistema reported a net income of EUR 1.8M, softer than EUR 3.7M in 2Q23 and expectations, mostly due to provisions for systemic risks.
Financial AdjustmentsA restatement in the model, moving the DGS contribution to Risk provisions from extraordinaries, explains the negative change in Adj. EPS.
Financial PerformanceRevenues declined by 6% yoy, penalised by a still contracting NII, partially offset by strong commission and trading income.