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Back Consolidated interim report on operations as at 30 September 2020 approved
Consolidated interim report on operations as at 30 September 2020 approved
Profit for the first nine months comes to € 200.6 million, sustained by a good revenue-generating capacity and effective cost control.
A number of non-recurring components, already recorded in the first half, in addition to contributions to system funds of € 64.7 million, had an impact on the results, such as additional loan loss adjustments of over € 90 million for the worsening of the macroeconomic context caused by the health emergency, as well as other extraordinary charges for a total of approximately € 36 million
Net profit for the third quarter of € 95.9 million benefiting from growth in core revenues (€ 587.6 million) and containment of operating costs (€ 379.8 million), given a reduction in the cost of credit (20 bps). The ordinary contribution to the Deposit Guarantee Schemes ("DGS") estimated at € 30.5 million was accounted for in the quarter
The Group's high level of capital strength is confirmed by a Fully Loaded CET1 ratio pro-forma of 13.03%, an increase of 46 bps since June 2020. Phased In CET1 ratio pro-forma of 14.61%, with an overall capital buffer of over € 2 billion compared with the minimum requirement set by the European Central Bank for 2020
High liquidity position with a LCR index of 175.8% well above the regulatory threshold of 100% and liquidity buffer of over € 15.5 billion
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