The MPS group closed the first nine months of 2012 with a net loss of 1,665 billion, against the profit of 303,5 million recorded in the same period last year. The result is mainly linked to the negative effects of write-downs and impairment on goodwill for 1,574 billion. In the third quarter of this year alone, the loss amounted to 47,4 million, against the profit of 42,2 million in the third quarter of last year.
In the 9 months the revenues total of the banking group stood at 4,182 billion, with a growth of 0,7% on an annual basis. In particular, the interest margin stood at 2,369 billion, down by 8,2%, with net commissions down to 1,25 billion (from 1,362 billion at the end of September 2011). Trading activity was positive for around 155 million.
Strongly growing credit adjustments, which settled in the nine months at 1,3 billion (+56%), while operating expenses remained stable at 2,491 billion.
The bank highlights the data on the recovery of the direct collection, to 135 billion, up by 3 billion compared to June (+2,2%), with loans of approximately 145 billion (+0,6% over June). Also noteworthy is the increase to 37 billion in the group's securities and derivatives portfolio, up by around one billion compared to the end of June due to the recovery of securities valued at fair value, in relation to the reduction in the Italian spread.
Stable compared to last June Core Tier1, equal to 10,8% at the end of September (it was 10,3% at the end of 2011).
A few minutes after the opening of trading, the Mps stock lost more than three points in Piazza Affari.
According to the CEO of MPS, Fabrizio Viola, the third quarter marks for Monte dei Paschi a "significant trend reversal" on "direct deposits". In the first quarter with the new industrial plan, according to Viola, some "actions" of the plan "show positive signs, even if they cannot yet be considered fully effective from an equity and economic point of view".
It was "a very difficult quarter, for everyone, for the economy, for the banking system and evidently for our bank", added the CEO. On the contrary, it was “the most difficult quarter of 2012 so far, both at the economic and financial level”.
