Bpm closed the first half with a net profit of 154,1 million, down 19,5% compared to 191,5 million in June 2014. However, the normalized net profit stood at 164,7 million and, net of the capital gain generated in the first half of last year from the sale of a stake in Anima holding, it would have increased by 69% compared to the first six months of 2014.
The interest margin amounted to 402,9 million (-1,1%), while net commissions amounted to 306,8 million (+11,0%). In terms of capitalisation, at the end of June own funds stood at 5 billion and the Cet1 ratio at 11,35%.
The management board of the bank, according to a press release, "subject to a favorable opinion expressed by the supervisory board", has approved the statutory amendments necessary for the adaptation of the bank's statute to the new regulatory framework on cooperative banks, and in particular has resolved to raise to 10 the maximum number of proxies that can be granted to each shareholder of the bank for the purposes of representation at the meeting.
