Quarterly Information Bulletin published as of September 30, 2025

Published Quarterly Information Bulletin as of September 30, 2025

The Quarterly Information Bulletin updated to September 30, 2025 has been published.

In the third quarter of 2025, the supervisory function of the Central Bank of the Republic of San Marino developed along trajectories already traced in the previous quarters, accompanied by a steady improvement in the technical profiles of the banking system, a substantial stability in the number of players in the financial system and, from the regulatory point of view, a progressive approximation to European standards, especially in the SEPA area.

Compared to last June 30:

• total deposits in the banking system increased by 1.6 percent;
• loans to customers also grew, both on a net and gross basis, by about € 10 million while impaired exposures were still down, falling to € 182 million on a gross basis (-4%) and to about € 114 million on a net basis (-5.2%), so the NPL ratios continued to improve compared to the previous quarter (-0.9% and -0.7%, respectively);
• equity in the banking system stood at € 345 million, registering an increase of € 8 million (+2.3%).

• changes in the primary regulatory framework and implementing regulations issued by BCSM;
• a summary description of BCSM's supervisory activities and international relations;
• key system data and trends;
• a description of BCSM's other institutional functions; in this regard, each quarter the activities of the Treasury, Debt Collection, Payment System and Finance Departments are examined alternately.