Banco Bpm in profit despite the crisis. The figure for the first half indicates that the Lombard-Veneto bank is making a net profit of 105 million, which would be 128 million net of non-recurring items. The data for the second quarter, the one most affected by the emergency, was also positive: core net performing loans to customers increased (95 billion, +4,3%) and core direct deposits (93,1 billion, +6%) compared in December 2019; new loans to customers amounted to €12,4 billion, up by 13,2% compared to the first half of 2019. Not only that: the net NPE ratio is decreasing, albeit slight, to 5% from 5,2% at the end of 2019, and net non-performing loans fell by 2,6% to €5,4 billion.
The bank was also able to confirm its capital solidity: the phased-in CET1 ratio is 14,7%, considering the IFRS parameters at 13,3%. The performance from an operating point of view was also good: operating income, net of the impacts deriving from the change in
own creditworthiness, amounted to 1 billion, up by 4,9% compared to the first quarter. Operating expenses at 614 million, down by 3,3%. The net result for the second quarter (with no change in own creditworthiness and without PPA) was instead equal to 76 million compared to 20 million in the first quarter.
"Based on management evidence at the end of July - explains a note -, the total amount of loans against which the bank granted the moratorium measures envisaged by the Cura Italia Decree and by the ABI Protocol is equal to 16,1 billion (of which 12,9 billion in favor of companies). Against these exposures, the amount of the suspended installments amounted to 2,3 billion. Furthermore, as part of the government measures to support the economy, Banco Bpm has allocated over 11,5 billion (already resolved or in the process of being resolved) in favor of companies covered by the guarantees provided by the decree laws”.
