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Italy's Popolare Sondrio targets 20% profit growth by 2025

MILAN, June 28 (Reuters) - Italy's Banca Popolare di Sondrio BPSI.MI on Wednesday said it aimed to grow its net profit by a fifth between 2022 and 2025 thanks to income from wealth management and insurance. Presenting a new business plan, the Italian regional bank set a net profit target of 323 million euro in 2025 up from 269 million euros last year. Popolare di Sondrio pledged to return more then 550 million euros in dividends to shareholders in the 2022-2025 period, with an annual payout ratio of 50%. ($1 = 0.9513 euros) (Reporting by Andrea Mandalà, editing by Valentina Za) ((andrea.mandala@thomsonreuters.com; +390680307738;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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