CDP closes the first half with a group net profit of 2,2 billion euros, while that of the parent company amounted to 1,4 billion.
The group result fell by 10% compared to the 2017 semester, which benefited from the extraordinary sale of the stake in Sia to Poste, while the Spa saw a 13% growth, says the CDP press release. These are "positive economic results that confirm the capital solidity" and in line with expectations explains Cdp "The resources mobilized in favor of the economy - notes Cassa - amounted to 13 billion euros".
At the parent company level, the half-year report shows an intermediation margin of 1,9 billion (+21%) and a substantially stable net interest income at 1,6 billion (+2%). The growth of the Spa's net profit was influenced by “the improvement in net commissions” and the contribution of equity investments.
At the end of the half-year, CDP had a stock of liquid assets decreasing to 163 billion (-7%) due to lower short-term investments. The stock of loans to customers and banks amounted to 101 billion, in line with the end of the previous year (-1%).
Debt securities increased to 58 billion (+21% compared to December), due to new purchases in the 'held to collect' portfolio. The volatility of the BTP spread observed in May had no impact.
