Where's Banca closed the first 9 months of 2015 with a Net income of 162 million euros, an increase of 8,1% compared to the 149,8 million recorded in the same period last year. The Bank made it known in a note, specifying that the improvement in credit quality is consolidating, with fewer adjustment needs (-10,9%), which made it possible to offset the trend in the interest margin (-9,5. XNUMX%), influenced by the lower contribution of the securities portfolio - in progressive reduction and recomposition - and by particularly competitive conditions on the new credit markets.
Thanks to cost control (-1,3%), the "core" profitability was up by 20,8% compared to the first 9 months of 2014. I net operating income however, they fell by 3,5% to 2.467,1 million euro, from 2.557,6 in the same period of 2014. net commissions, which represent approximately 40% of operating income, reached 969,5 million euro, +6,8% compared to 908,2 in the same period of 2014, thanks to the good performance of commissions deriving from investment services (+10,6% or approximately 50 million to 523 million), which benefited above all from the evolution of commissions on portfolio management, up by 41 million, but also from the placement of asset management products.
As for the solo third quarter, consolidated net income amounted to 37,6 million euros, against 48,5 million in the second quarter of 2015 and 43,6 in the third quarter of 2014 (the latter did not include the estimated contribution to the Single Resolution Fund, recognized in the second quarter of 2015, nor the estimated contribution to the Deposit Guarantee Scheme, accounted for in the third quarter of 2015).
But it's not just the quarterly accounts that keep the market's attention on Ubi. The shares of the group for which it was exercised the right of withdrawal for the transformation into a Spa were approximately 34,5 million, equal to 3,927% of the capital. The right of withdrawal, exercisable until 27 October by those who did not participate in the approval of the resolution to transform it into a joint-stock company, was exercised by 1.103 shareholders for a total of 35.409.477 shares corresponding to 258.064.268,38 euros per liquidation value of 7,288 euros per share.
