Banca Akros, the investment bank of the Banco Bpm group, closed 2018 with an intermediation margin of 54,9 million euro (stable), net fees and commissions of 29,7 million (+14%) and a net profit of 2,6, compared to 8,1 million in 2017, after deducting the charges associated with IT migration activities on the group's target system and the ordinary and extraordinary contribution to the Single resolution fund.
On the capital front, the Cet1 ratio stood at 30,7% (it was 24,2% as at 31 December 2017). The scope of the bank's activities, the note recalls, differs from the previous year, incorporating the contribution of private banking activities limited to the first quarter of 2018, given the demerger of the related business unit in favor of Banca Aletti and that of the Corporate & Investment Banking of Banca Aletti. The normalized pro forma aggregate operating income for 2018 is therefore equal to 113,3 million, while the normalized pro forma aggregate net profit stands at 18,7 million.
As for Aletti Bank, private and wealth management bank of the Banco BPM Group, the 2018 financial year closed with a gross operating result of 129,8 million euro and a net profit of 80,2 million. Operating income amounted to 262,5 million and charges to 11,9 million, while shareholders' equity reached 453,6 million euro.
As regards Investment Banking, trading, structuring and hedging of OTC derivatives generated margins of 47 million against placements of structured products of 6,9 billion. Expected total dividends of 79,36 million euros, after the allocation to the reserve of 0,8 million, with a coupon of 3,38 euros per share.
