MILANO (Reuters) -Italian bank Banco BPM on Thursday posted a higher-than-expected quarterly profit helped by higher net fees after its recent purchase of fund manager Anima Holding, which more than offset falling income from lending.
Italy’s third-largest bank reported a net profit of 450.3 million euros ($525 million) for the three months ending September 30, compared with an average LSEG analyst forecast of 398 million euros.
The bank, which is again at the centre of potential future M&A developments in Italian banking after a failed takeover attempt by UniCredit, confirmed its full-year outlook.
($1 = 0.8575 euros)
(Reporting by Andrea Mandalà; Editing by Valentina Za)
