Banco Popolare closed the first half of 2015 with a net profit of 293 million, against a result of 6 million in the same period of 2014. Operating income increased by 1,2% to 1,8 billion, with a margin of interest at 789 million (+2,7%) and net commissions at 771 million (+7,7%).
Operating expenses decreased by 1,4% to 1,07 billion, for a cost/income ratio down to 58,9%. The numbers for the second quarter were better than forecasts by analysts: profit more than tripled to 84,3 million (from 25 million and against expectations for 53 million), operating income at 859 million (834 the consensus), interest margin at 402 million ( 390) and loan loss provisions of 194 million (195).
As for capital solidity, the common equity tier 1 phased in is 12,2%.
