Il Banco Popolare closed the first half of 2012 with book net income of 29 million, down 85% compared to the same period of 2011. Excluding the impact of the changes in own creditworthiness, which have a negative effect of 142 million (against the positive effect of 23 million in the first six months of 2011), the consolidated profit remains practically stable at 171 million (from 167).
Operating income fell by 11% to 1,7 billion, with interest margin at 916 million (+2,9%) and net commissions at 678 million (+3,5%), while operating costs fell by 3,3% to 1,17 billion, for a cost/income ratio of 69,6%.
