The preliminary results for 2025 have been approved, reporting a consolidated net profit of €65.4 million, an increase of 27.6% compared with the previous year. At the same time, the Bank’s individual net profit amounted to €62 million, up 23.6% compared with 2024.
Group customer loans exceeded €7.5 billion, rising 2.1% compared with 31 December 2024.
Total customer assets under management amounted to €18.1 billion, an increase of 4.1% (€714 million) compared with 31 December 2024, supported in particular by the growth in indirect funding (+6.3% across administered and managed savings) and retail direct funding (+2.1%).
The Group’s capital strength improved further, with a CET1 Ratio of 17.9% and a Total Capital Ratio of 21.7%, both significantly higher than at year‑end 2024.
The Group’s liquidity position also remained solid and further strengthened, with a Liquidity Coverage Ratio (LCR) of 283% and a Net Stable Funding Ratio (NSFR) of 169.3%.
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The Board of Directors of Cassa di Risparmio di Asti S.p.A. (“Banca di Asti”), at its meeting held today, approved the preliminary individual and consolidated financial statements as at 31 December 2025.
The results achieved by the Group as at 31 December 2025 confirm its solid profitability, with a ROE of 5.84%, and the further strengthening of its structural soundness:
| Banca di Asti | Pitagora | Gruppo | |
| CET1 Capital Ratio | 19,5% | 16,5% | 17,9% |
| T1 Capital Ratio | 19,5% | 16,5% | 17,9% |
| Total Capital Ratio | 23,6% | 16,5% | 21,7% |
Total customer assets under management increased 4.1% compared with 31/12/2024, reaching €18.1 billion. All components grew during the year: +2.1% for direct customer funding, +6.6% for managed savings and +5.8% for administered savings.
Customer loans exceeded €7.5 billion, up 2.1% compared with the previous year. In 2025, the Group disbursed €2.3 billion in new loans, confirming its concrete commitment to supporting households and businesses and contributing to the development of the communities it serves.
Asset quality indicators improved significantly compared with December 2024, with the gross and net NPL ratios falling to 4.19% (from 5.22% in 2024) and 2.36% (from 2.92%), respectively. The average coverage ratio of loans originated by the Bank is 49.1% (45.2% including salary‑backed loans issued by the subsidiary Pitagora).
Net bad loans decreased to 0.32% of total net loans (from 0.45% at 31/12/2024), with a coverage ratio of 68.2% (69.5% for loans originated by the Bank).
Operating costs amounted to €277 million, broadly in line with the previous year, resulting in a Cost/Income ratio of 64.2%.
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CONSOLIDATED RESULTS OF THE CASSA DI RISPARMIO DI ASTI GROUP AS AT 31 DECEMBER 2025
The preliminary data as at 31 December 2025 confirm the Group’s ability to generate earnings, maintain operational efficiency and ensure structural soundness, with liquidity indicators and capital ratios well above the minimum regulatory thresholds established by the Supervisory Authority under the periodic SREP process.
The 2025 preliminary results also confirm the validity of the 2025–2027 Strategic Plan, the effectiveness of its guidelines and the Group’s ability to implement them, demonstrating resilience and adaptability in an economic environment marked by high volatility and uncertainty.
In a complex market environment, the Group achieved a net profit of €65.4 million, an increase of 27.6% compared with 2024, and a ROE of 5.8% (4.7% in the previous year), exceeding the targets set for 2025.
Total customer funding amounted to €18.1 billion (€19.4 billion including securitisations placed on the market and institutional funding), up €714 million (+4.1%) compared with 31/12/2024. Retail direct funding totalled €9.3 billion, up 2.1% compared with 2024, while indirect funding reached €8.8 billion (+6.3% compared with 31/12/2024), of which €5.6 billion in managed savings (+6.6%) and €3.3 billion in administered savings, which recorded an increase of, respectively, 6.6% and 5.8% compared to 12/31/2024.
Net customer loans amounted to €7.5 billion, up 2.1% compared with 31/12/2024. New lending of approximately €2.3 billion enabled the Group to outperform the Italian banking system’s average growth over the same period (+2.0%[1]). At the individual level, Banca di Asti recorded a 3.7% increase in customer loan volumes.
The interest margin amounted to €252.4 million, down 15% compared with 2024, reflecting the impact of declining interest rates due to macroeconomic conditions.
Net credit adjustments for 2025 totalled €33.2 million, corresponding to a cost of risk of 0.44% (0.67% including the costs associated with NPL disposals under the de‑risking strategy).
Credit quality indicators improved significantly, also thanks to the aforementioned NPL disposals: Gross NPL ratio: 4.19% (5.22% in 2024) and Net NPL ratio: 2.36% (2.92% in 2024), corresponding to 3.95% and 2.16% respectively, at the individual level.
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[1] Source: Monthly Outlook ABI 01/26
The coverage ratio of deteriorated exposures is 45.17%, rising to 49.12%, considering only loans originated by the Bank (salary‑backed loans issued by Pitagora have lower coverage levels due to the specific characteristics of the product).
Non-performing loans, net of provisions, account for 0.32% of total net loans and have a coverage ratio of 68.17% (69.52% excluding salary‑backed loans).
Net operating income amounts to €381.7 million (+2.83% compared with 31/12/2024) and includes:
Dividends from equity investments totalled €10.2 million (substantially unchanged from 2024) and mainly related to the stake held in the Bank of Italy.
Operating costs amounted to €277.4 million, essentially stable compared with 2024, despite the Group’s continued implementation of strategic initiatives aimed at improving efficiency while investing in commercial development, human capital and the modernisation and digitalisation of customer services and internal processes , through a series of project initiatives aimed at effectively pursuing medium- to long-term objectives in accordance with corporate values.
As at 31 December 2025, the Cost/Income ratio stood at 64.23%.
Consolidated own funds amounted to €1,132.8 million, a significant increase compared with €999.1 million at year‑end 2024, including €930.8 million of Common Equity Tier 1 capital (€888.1 million at 31/12/2024) and €201.9 million of Tier 2 capital.
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RESULTS OF THE PARENT COMPANY BANCA DI ASTI S.P.A. AS AT 31 DECEMBER 2025
KEY RESULTS OF THE SUBSIDIARY PITAGORA S.P.A. AS AT 31 DECEMBER 2025
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The information on the 2025 preliminary results contained in this press release does not constitute individual or consolidated financial statements prepared in accordance with IAS/IFRS international accounting standards. The draft individual financial statements and the consolidated financial statements as at 31 December 2025 will be submitted for approval to the Bank’s Board of Directors by the end of March 2026 and may therefore be subject to changes, including events occurring thereafter. These documents will be made available to shareholders within the time limits established by the applicable legal and regulatory provisions.
The preliminary results as at 31 December 2025 contained in this press release, as well as the draft individual and consolidated financial statements as at 31 December 2025, remain subject to audit by the statutory external auditor (Deloitte & Touche S.p.A.).
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This press release is available to shareholders on the Banca di Asti website (https://bancadiasti.it/), in the “Investor Relations” section, and on the authorized storage mechanism “1info” (www.1info.it).
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This press release contains forward‑looking statements regarding future events and results, which are based on Banca di Asti’s current expectations, estimates and projections. Such statements inherently involve risks and uncertainties, as they depend on the occurrence of future events and include known and unknown risks, uncertainties and other factors. These factors include, but are not limited to: (i) changes in the regulatory framework and/or its interpretation; (ii) the adoption, at national, EU or global level, of policies that may affect the Group’s business; (iii) the deterioration of geopolitical conditions (including the continuation or escalation of the conflicts in Ukraine and the Middle East, or the involvement of additional countries in hostilities) and macroeconomic conditions (due, among other things, to inflation, rising energy costs and, generally, raw material prices); (iv) the development, evolution or resurgence of pandemics and/or health crises and their impact on macroeconomic conditions; and (v) long‑term changes in customer preferences. The Group’s ability to achieve the expected results depends on many factors that are also beyond the control of Banca di Asti’s management. Furthermore, actual results may differ, even significantly, from the preliminary, expected or implied results contained in the forward‑looking statements. Consequently, readers of this press release should not place undue reliance on such forward‑looking information. Banca di Asti and its directors, employees and representatives expressly disclaim any liability for the forward‑looking statements contained herein. Such statements refer only to the date of this press release, and Banca di Asti undertakes no obligation to update or revise any forward‑looking statement, whether as a result of new information, future events or otherwise, except as required under applicable laws or regulations.
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| Elena Rossignoli responsabile Servizio Affari Legali e Societari tel 0141 393 510 e mail [email protected] | Roberta Viarengo responsabile Ufficio Segreteria Generale e Soci tel 0141 393 258 e mail [email protected] |
Diffuso tramite SDIR 1Info il 10/02/2026 alle ore 18:22