Monte dei Paschi eyes €3.7bn profit by 2030 after Mediobanca deal

Monte dei Paschi di Siena (MPS) has announced a 2030 adjusted net profit target of €3.7bn ($4.4bn) and expects to finalise its merger with Mediobanca by the end of the year. The bank also said it plans to deliver all anticipated merger benefits by 2028. According to the new strategic plan required by the European Central Bank after the deal, MPS is aiming for adjusted net profit to rise from €2.4bn in 2025 to €3.7bn in 2030, excluding one-off events. Chief executive Luigi Lovaglio, who is up for reappo ...