(Reuters) -Italy’s Banca Popolare di Sondrio on Tuesday posted a 19% rise in its first-quarter net profit, citing a good performance in its core banking business.
The group, which is the target of a 4.3 billion euro ($4.88 billion) all-share takeover bid by Italy’s fourth-largest bank BPER, reported quarterly net profit of 173.3 million euros.
“The reported results constitute the best way forward in the implementation of the new business plan 2025-2027,” CEO Mario Alberto Pedranzini said in a statement.
The bank also appointed director Pierluigi Molla as chairman until the end of his mandate in 2026.
($1 = 0.8816 euros)
(Reporting by Philippe Leroy Beaulieu in Gdansk; Editing by Jan Harvey)
