Passador Bank closes the first half of this year with the best net income ever, updating the records already seen with the 2021 budget. This was stated in a note from the independent Genoese private bank founded in 1888 by Luigi Passadore after the approval of the Board of Directors chaired by Augustus Passador.
THEhalf-yearly net profit rose to 15,383 million (+18,6%) and is configured as the best half-year result ever, with a profitability index ROE rose to 13% in the absence of extraordinary operations. Even in an extremely complex geo-political and economic context, the overall results for the year are nonetheless expected to be favourable, says the note.
The equity index CET1 as at 30 June 2022 it rose to 13,7%, higher than the corresponding parameter required by the Bank of Italy.
Banca Passatore: deposits up 13,5%. Declining funding
I customer deposits they rose to 3,917 billion, with an increase of 13,5% compared to the same date of the previous year.
I securities administered and under management, equal to 5,210 billion "while benefiting from further growth in the private banking sector and in particular in asset management, they recorded, in a very negative market context, a limited volume reduction (-4%) caused by the substantial drop in the valuations of bonds and shares” says the note.
I funding amounted to 1,974 down -2,9% and maintain a ratio between non-performing loans and total loans of 1,3%, considering that the Bank has never made any transfer of non-performing items.
In the context of "ESG" issues, the most recent was the new "PASSADORE Foundation 1888 ef”. The initiative stems from the desire to position itself towards the community no longer only as a "provider" subject, but also as an active part of the Third Sector. In particular, the Foundation is aimed at pursuing objectives of social utility including environmental, cultural, artistic, social and socio-health objectives, and already in the first months of activity it began to represent a point of reference for all those who want to carry out charity relying on a correct and transparent reality.
