Banco Popolare closed the first nine months of the year with a net loss of 53,8 million, down from the profit of 321,8 million recorded in the same period last year. The result is linked to the negative impact of the fair value measurement of own-issue liabilities.
Net of the change in own creditworthiness on financial liabilities, measured at fair value equal to -219,8 million (+268,6 in 2011), the net profit for the first nine months of 2012 is equal to 165,9 million, against 53,1 million in the corresponding period of 2011 (+212,3%).
The loss recorded by the associate also weighs on the result Agos Ducato, the negative impact of which is approximately 116 million euro.
Il Core tier 1 ratio was brought from 7,1% at the beginning of the year to 10,4%, exceeding the level required by the EBA.
In terms of credit quality, impaired assets increased (€15,8 billion, +14,3%) also as a result of the regulatory change which reduces the time threshold for identifying past due exposures from 180 days to 90 days.
Therefore, the ratio of net non-performing loans to loans rose to 4,53% from 3,93% at the end of 2011.
This morning in Piazza Affari the stock of Banco Popolare travels in the red by about half a point.
