Italy's top five banks close 2024 with record profits of €23.6 billion, up 8% from €21.9 billion in 2023, marking a new high for the national banking system. Driving the results is an increase in revenues to nearly €66.5 billion (+5.8%), driven by net interest income and fee growth. This is according to a report by the Centro Studi di Unimpresa, according to which Intesa Sanpaolo and UniCredit are confirmed as market leaders, with net profits of 8.7 and €9.7 billion, respectively, while Banco BPM shows the highest growth (+51.9%), rising to €1.92 billion. Stable BPER (€1.4 billion) and MPS (€1.95 billion, -4.9%), the latter suffering from higher operating costs. Total net interest income for the five groups touches €39.3 billion (+4.7%), still benefiting from high rates, but with signs of stabilization. Intesa and UniCredit remain at the top with 15.7 and 14.4 billion euros, respectively, followed by Banco BPM (€3.4 billion). Commissions are up sharply, rising 8.1% to €23 billion, driven by wealth management and bancassurance.