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Pop Bari: more collection, lower costs but the Venetian banks effect pays off

Direct deposits grew by 9,7% and operating costs fell by 4,4% but Banca Popolare di Bari closed the first half of 2017 with a loss of 2,6 million euro due to the write-down of 23,6 million of the share of the Atlante Fund invested in the rescue of the Veneto banks

All the fault of the Venetian banks. Banca Popolare di Bari would have closed the first half of 2017 in positive territory if the full write-down of the stake in the Atlante Fund invested in the rescue of the Veneto banks hadn't cost it 23,6 million, sending its accounts into the red for 2,6 million EUR.

However, the fundamentals of the leading bank in the South are good: in the first half of 2017 direct deposits grew by 9,7% and reached 10,4 billion euro, operating costs fell by 4,4% while commissions up 9,9%. The intermediation margin is down (-7,9%) but also the gross non-performing loans (-0,6%). Loans stable at 9,2 billion.

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