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.
