REFILE-Italy's Banco BPM Q3 net profit falls amid weak core revenues but beats forecasts

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MILANO, Nov 6 (Reuters) - Italy’s third largest lender, Banco BPM posted a fall in third quarter net profits on Wednesday, with lower interest income and core revenues but still beat estimates from eight analysts polled by Reuters.

Like other mid-sized lenders, Banco BPM is struggling to generate profits from core business which could hasten a possible merger to cut costs and complete a balance sheet clean-up.

Net profit for the three months through September fell to 93.3 million euros ($103.4 million) from 172 million euros a year earlier, when earnings were boosted by capital gains from an asset sale, ahead of an average estimate of 81 million euros in a Reuters survey of eight analysts.

Net interest income, a measure of how much money a bank makes from its core retail business -- stood at 500 million euros, down some 10% from year earlier.

Banco BPM’s Common Equity Tier 1 ratio, a key measure of financial strength, stood at 12.1% on a fully loaded basis at the end of September, broadly unchanged from the end of June.

The bank said it would focus on its core business in the last quarter of the year, paying close attention to costs with revenue trends expected to remain broadly unchanged barring any market turbulence. ($1 = 0.9028 euros) (Reporting by Andrea Mandala; editing by James Mackenzie)