Quarterly Fridays for Italian banks. Among the most anticipated is that of Carige, who simultaneously communicates that he has convened a very delicate shareholders' meeting for 20 September, requested by the ECB to deliberate, among other things, on the requests for revocation of the board of directors, arrived from Malacalza Investimenti and Raffaele Mincione. Meanwhile, the accounts say that after a first quarter of the year in profit, the Genoese bank returned "in the red" in the half year: the bank has in fact announced that it closed the first 6 months of 2018 with a loss of 20,5 million euros, in any case a very clear reduction compared to 158,4 million in the same period of 2017.
Excluding the extraordinary effects deriving from past legacies, the result for the first half of 2018 would have been positive for 20,2 million euros and in line with the business plan forecasts. At the end of June, the Common Equity Tier1 was 11,8% higher than the regulatory limit required by the ECB of 9,625% and the suggested threshold, inclusive of the Guidance, of 11,175%. Also at the end of June loans to customers amounted to 17,2 billion euro, in line with the value at the beginning of the year. At the same date, gross non-performing loans amounted to €4,7 billion, down by 1,2% compared to December 2017 levels.
The coverage percentage of non-performing cash loans to customers was 52% including write-offs compared to 47,7% recorded at the end of 2017. At the same date the Banca Carige's securities portfolio amounted to 1,8 billion euro, of which approximately 1,5 billion euro-area government bonds, with a duration of 3 years. After the publication of the accounts, the Carige stock fluctuated only to then sink into negative territory in mid-afternoon, losing more than 3% to €0,0087 per share.
Accounts in chiaroscuro also for Bank Ifis, whose board has given the green light to the financial results for the first half of 2018, closed with a net profit of 66,2 million euros, down 36,1% compared to the same period last year. The institute communicates it in a note. In the first six months of the year the intermediation margin rises to 278,1 million euros (+9,8%), while the net result of financial management is equal to 238,1 million (+10,3%). Operating costs, on the other hand, rose to 144,2 million (+20,7%) and the ratio between gross impaired assets and gross loans in the Corporate sector stood at 10,5%. In terms of capital ratios, the Cet1 is at 15,13% (against 15,64% as at 31 December 2017).
Fideuram – Intesa Sanpaolo Private Banking (Intesa Sanpaolo Group), on the other hand, achieved the best half-year result ever, with profits rising to 454 million euro. The BoD, chaired by Paolo Grandi, approved the Half-Year Report as at 30 June 2018 2. Total assets under management as at 30 June 2018 amounted to 217,9 billion, up by one percentage point compared to 31 December 2017 (216,6, 4 billion) and by 30% compared to 2017 June 209,6 (2017 billion). The evolution of masses compared to the end of XNUMX is attributable to theexcellent net inflow result (5,5 billion) which more than offset the market effect, which had an unfavorable effect on assets in the first six months of the year (-4,2 billion).
