Banco Popolare closed the 2011 financial statements with a net profit of 185 million euro. Total revenues are expected to grow by 3,6% year on year to 3,855 billion euros, supported by trading profits (665 million euros from 540 million in 2010); on the other hand, net interest income should be flat year-on-year at 1.813 million euros and net commissions should rise by only 1% to 1.279 million euros.
Operating costs are seen to fall by 2% to €2,4 billion thanks to the effects of cost cutting, which should generate gross operating profit of 1,45 billion, almost 15% more year on year with a cost/income ratio of 62,3%.
“We do not expect the bank to pay a dividend this year,” Banca Akros experts indicate. In 2010, the coupon was equal to 0,03 euro per share.
