Net profit of 85 million euros, down 9 percent compared to June last year. These are the numbers for the first half of Cariparma, the group headed by Crédit Agricole and which includes Banca Popolare FriulAdria SpA, Cassa di Risparmio della Spezia, Crédit Agricole Leasing Italia Srl and CA Agro-Alimentare.
The figures are net of the CA Vita capital gain and take into consideration the tax benefits of 36 million due to the realignment of the tax values deriving from the transfer operations that took place in previous years, an official note from the group said.
Operating results were good (312 million euro, +14 per cent on an annual basis), thanks to the growth in commissions and cost containment. Cariparma has also strengthened the prudential provisions on loans (202 million in the half year from 155 million in the same period of 2012), reflecting the hedging policy in line with what was already done at the end of 2012.
Compared to the first quarter, the cost of credit stabilized at 100 million. On the balance sheet front, in June the Core Tier 1 stood at 9,3 per cent and the Tier Total at 12,5 per cent.
Outperforming the market was also recorded in the disbursement of home loans to families (+5 per cent) and an increase in customers (+4000 since April 2013) supported by the launch of the new online product “Conto Subito”.
