Le banking foundations they closed a very positive 2021, especially thanks to the return of bank dividends after the interruption requested by the ECB in 2020 to deal with the pandemic. He communicates it the Acre in its latest report, specifying that last year the 86 Italian banking foundations achieved their goals a profit of 1,69 billion, up 61,1% compared to 2020.
Banking foundations: dividends, profitability and equity
In detail, the dividends they soared to 1,56 billion (+73%), and, among these, the coupons distributed by credit institutions exceeded 671 million (about 39% of total proceeds).
Furthermore, the Foundations have recorded an increase in gross profitability of assets (to 5,7%, from 3,6% in 2020) against a total asset which has come to exceed the threshold of 40 billion (40,2 billion, +1,3%).
The association led by Francesco Profumo therefore underlines that 2021 is the second best year since 2008, behind only the results of the pre Covid year, 2019.
Perfume's comment
“Despite the pandemic and the persistence of the climate of uncertainty – he comments Bouquet – the results of the management of the assets of the Foundations of banking origin were very positive. The foundations continued to guarantee constant support to the communities in terms of disbursement activities, balancing, with recourse to the funds set aside in previous years, the lower resources foreseen based on the surplus for the previous year (2020)".
Taxation
For the first time in many years, the burden of the tax authorities is reduced to 326,7 million (by adding taxes in the budget and at source). A 2020 law, requested for years by Acri, introduced a reduction of the taxable amount on dividends to 50%. The tax savings produced – amounting to approximately 152,8 million – are set aside by the foundations in a fund intended for distribution activities starting from the current year.
The sale of shares in banks
Since 1990, the foundations have gradually sold the shares in the banks in which they originally held 100% of the capital. At the end of last year, according to the Acri report, 84% of foundations had a stake in the original bank of less than 5%. In all, 36 foundations have completely divested their stake in the bank.
There are eight foundations that have a residual stake of between 5 and 50% of the bank's capital, while only six foundations have a stake of more than 50% of the capital (these are foundations that are small in terms of assets or those based in the with special status).
Two days ago the news came of the rounding up of the Cariplo Foundation into Intesa Sanpaolo, the first transaction in the opposite direction to the divestments of a large banking institution after many years, but always in compliance with the 'stakeholders' of the Acri-Mef protocol which is binding for associate them.
Non-profit grants
Finally, the Acri report shows that the disbursements approved in 2021 amounted to 914 million, down by 3,8% as they are based on the surplus for the year 2020, lower due to the stop on bank dividends.
Among the sectors benefiting from the grants, the “Art, activities and cultural heritage” sector is confirmed in first place with 245,5 million (26,9% of the total grants), followed by “Volunteering, philanthropy and charity” with 143,2 million (15,7%) and from “Research and development” with 112,2 million.
These sums do not include those destined for the fund promoted by ACRI a few years ago to combat child educational poverty: fed in collaboration with the State, the project was financed in total with 339 million in six years.
