Monte dei Paschi di Siena reported net profit of €520.8 million for the reporting period, representing a 26% increase from €413.1 million in the year-earlier period.

The Italian bank's improved financial performance comes as it continues operations following its acquisition of Mediobanca. The profit increase reflects the bank's ongoing recovery efforts and the contribution from its expanded operations.

Monte dei Paschi, Italy's oldest bank, has been working to strengthen its financial position in recent years. The bank has undergone significant restructuring as part of broader efforts to stabilize its operations and return to sustainable profitability.

The reported figures indicate continued progress in the bank's financial turnaround, with the year-over-year profit growth suggesting improved operational performance. The results will be closely watched by investors and regulators as the bank continues its recovery trajectory.