A key factor behind the revised outlook is Beta Securities’ updated assumptions for European Central Bank (ECB) interest rates. According to Beta, every 25-basis-point change in the deposit facility rate affects the bank’s net interest income by approximately €35m. As a result, the brokerage has also increased its forecasts for net interest income and the net interest margin, despite ongoing pressure on lending margins. The brokerage added that the bank remains committed to its target of achieving net credit expansion of more than €3bn in 2026. With a Common Equity Tier 1 (CET1) ratio of 17.3 per cent, Beta said the bank continues to hold substantial excess capital.