Nuova Banca Etruria, born last November from the rescue of the old Banca Popolare dell'Etruria e del Lazio, approved the first financial year at the end of December 2015 with a net loss of 23 million euro.
The data from the first balance sheet of the bank which has assets of over 8 billion, underlines a note, are not comparable and concern a limited period of 38 days, i.e. from the establishment of the bridge entity Nuova Banca Etruria last November 23 until December 31 2015.
The primary intermediation margin, indicative of the characteristic management, is equal to 17,6 million euro. Total direct deposits amounted to 5,4 billion, of which 2,3 billion represented by current accounts and demand deposits; the indirect one to 4,5 billion.
Loans to customers amounted to 3,9 billion. In particular, the institute points out that in the first eight weeks over 2.000 credit lines were approved for approximately 274 million.
As regards non-performing loans, the note recalls that the transfer of non-performing loans to the bad bank was finalized last February. At the end of December the Cet1 was equal to 11,1%.
"The communication action set up immediately by the New Bank, completely renewed in the top management, with a strong managerial discontinuity and robust capital requirements, combined with a relaunch of commercial activities, produced after the first few weeks encouraging signs of a return of confidence and effects growing positive already during 2016”, comments the bank.
