BFF Bank Faces Scrutiny and Stock Dip Amidst CEO Departure and Earnings Restatement

Italian bank BFF Bank is navigating a period of turbulence, marked by a significant stock decline, the departure of its CEO, and a restatement of past earnings. The bank is similarly facing preliminary investigations by Milan prosecutors. These developments have placed the banking sector in the spotlight, while broader market trends show a mixed performance with utilities showing resilience.

Recent Developments at BFF Bank

Massimiliano Belingheri has stepped down as Chief Executive of BFF Bank, as the lender booked provisions for bad loans and revised its financial statements. Reuters reported on February 2, 2026, that the bank has also lowered its targets for 2026.

The bank’s stock experienced a substantial drop, falling 11.6% to €3.394 as of February 17, 2026. This follows awareness of preliminary investigations launched by the Milan Public Prosecutor’s Office, beginning in late 2023.

Italian Market Overview

Despite the challenges at BFF Bank, the broader Italian stock market showed fractional gains on February 17, 2026. The FTSEMib index rose 0.48% to 45,636 points, fluctuating between 45,294 and 45,766 points. The FTSE Italia All Share also recovered, increasing by 0.41%. However, the FTSE Italia Mid Cap and FTSE Italia Star experienced declines of 0.47% and 0.63%, respectively.

Sector Performance

The banking sector remains a key area of focus for investors. Monte dei Paschi di Siena saw an increase of 1.67% to €8.39, and Mediobanca also performed well, rising 2% to €18.085.

Utilities are demonstrating recovery, with Enel increasing by 1.02% to €9.274 and Italgas gaining 2.12% to €11.07. ERG experienced a significant leap, rising 5.12% to €22.81.

Conversely, Prysmian and Fincantieri faced selling pressure, declining by 2.1% to €97.1 and 4.3% to €16.03, respectively.

Other Market Movements

Eurogroup Laminations continues to be monitored following a previous correction, with a further loss of 5.43% to €1.376, as some investment banks have revised their target prices for the stock.

Borgosesia saw a substantial increase of 19.7% to €0.706 following Alba’s announcement of a voluntary public purchase offer for all ordinary shares at €0.71 per share, representing a 20.3% premium over the previous day’s price.

Global Market Indicators

Bitcoin has returned to $68,000 (approximately €57,500). The spread between the BTP-Bund (Italian and German government bonds) widened to over 60 basis points, with the yield on the ten-year BTP approaching 3.35%. The euro is consolidating below $1.185. Gold prices have risen to $4,915, while silver has fallen below $74.50.

About BFF Bank

BFF Bank S.p.A., based in Milan, engages in non-recourse factoring and credit management, primarily serving public administration bodies and private hospitals across Italy and several European countries including Croatia, the Czech Republic, France, Greece, Poland, Portugal, Slovakia, and Spain. The bank also provides factoring and lending securities services, payment services, and online deposit accounts. It offers custodian banking for investment funds and related services.