2019 to be framed for Banca Imi which closed the year with a consolidated net profit of 1,415 billion euros, the highest level in its history.
In percentage terms, the investment bank of the Intesa Sanpaolo group increased its profits by 76% from the 803 million euros of 31 December 2018. The result was driven by the performance of revenues, characterized by a robust level of net interest (up 51,9%) and profits from the management of financial assets doubled to 1.363 million, explains the bank.
In the fourth quarter of 2019, the revenues recorded - at 570 million - recorded a sharp rise in the fee and commission margin, leading the intermediation margin total for the year at 2,659 billion euro (+58,1%, an increase of 977 million). The results of the Capital Markets activities (to 2,225 billion euro) and of Investment Banking and Structured Finance, which amount to 434 million euro, are highlighted.
“Thanks to a structure of operating costs under control (at 473 million) – continues Banca Imi – the effect of the higher revenues is transferred entirely to the result of the operation management”, which reaches 2,186 billion (+79,6% compared to the previous year, with a cost/income ratio of 17,8% compared to the previous 27,7%. Common Equity Tier 1 Ratio, Total Capital Ratio and Leverage Ratio determined in this way, they rise respectively to 10,2%, 15,0% and 4,85%.
