(Alliance News) - Banca Monte Paschi Siena Spa on Tuesday reported net income of EUR332.7 million in the first quarter of the year, up 41 percent from EUR235.7 million as of March 31, 2023.

Total revenues were EUR1.01 billion, up 15 percent from EUR878.9 million in Q1 2023.

Net interest income as of March 31 is EUR587 million, up 16 percent from EUR504.5 million in 2023.

Net commissions in the first quarter amounted to EUR365 million, up 10% from EUR331.7 million in the previous year.

Gross operating income is EUR551 million from EUR414 million as of March 31, 2023.

On the asset aggregates front, the group's total funding volumes amounted to EUR192.8 billion, up EUR5.3 billion as of December 31, 2023.

Direct funding volumes stood at EUR92.7 billion and up EUR2.1 billion at the end of December.

As of March 31, the group's Net Interbank Position stood at EUR5.6 billion in lending, compared to EUR2.2 billion in lending as of December 31, 2023 and EUR4.5 billion in funding as of March 31, 2023.

As for capital ratios, the CET1 capital ratio stood at 17.9 percent as of March 31 compared to 18.1 percent as of Dec. 31, 2023, and the total capital ratio stood at 21.3 percent compared to 21.6 percent as of Dec. 31, 2023.

On Monday, MPS closed in the green by 1.5 percent at EUR4.61 per share.

By Claudia Cavaliere, Alliance News reporter

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