"Record" result in first quarter 2012 for General Bank which recorded a consolidated net profit of 39,2 million, nearly doubled from the first quarter of 2011 (+ 95,6%).
More than doubled the interest margin a 23,1 million (+109,1%) thanks to the growth in funding volumes linked to participation in the refinancing operations promoted by the ECB to which must be added the increase in deposits due to the positive dynamics of funding in the period.
Total revenues grew by 58% a 101,2 million, with strong growth in all components.
Net commissions stood at 70,4 million, an increase of 39,5%.
“The start of 2012 was very satisfactory in terms of net inflows, growth in assets under management and strengthening of the bank's already good balance sheet. We expect a consolidation of these positive dynamics in the coming months, despite being aware of the high degree of volatility of the financial markets and macroeconomic dynamics”, reads the press release.
