Credem closes the first 9 months of the year with a net profit of 90,2 million euro, equal to a growth of 5,5% compared to the same period last year. On the balance sheet front, total deposits reached 45 billion, +3,5% on an annual basis. Loans also grew, amounting to 20,5 billion against 19,44 in the first 9 months of 2011.
The figure - explains a note - is affected by the capital gain of 37,6 million for the sale of custodian bank activities and provisions for 60 million following new disputes by the Revenue Agency in the context of the so-called "abuse of right".
Core Tier 1 is 9,38%, while the 'Total capital ratio' is 12,7%.
The intermediation margin was stable at 710,1 million, while operating costs decreased by 1,2% to 449,8 million for a cost/income ratio of 63,3% compared to 64,1% at the end of September 2011.
