The group Ubi Banca closed the first nine months of 2012 with a net profit up 21,9%, to 222,8 million euro, against the 182,7 million recorded in the same period of 2011. Normalized net income (without considering non-recurring items) amounted to 180,3 million (+87,1%) . The institute made it known in a statement.
Economic management shows operating income up 4% to 2,6 billion and costs down 4,1% to 1,7 billion, bringing an operating result up 23% to 931,3 million.
In particular, the revenues benefit from the net result of financial activity, which leaps to 148,3 million, from a loss of 16,7 million in the previous year, against a 3,9% decrease in the interest margin.
In a deteriorated economic context, net value adjustments to loans rose in the nine months to 494,7 million from 398,7 million. Non-performing loans grew to 7,77 billion with an incidence on net loans of 8,19%.
The equity indicators record a Core Tier 1 at 10,49%. Calculated on the basis of the EBA exercise, Core Tier 1 stands at 9,35%.
Less than an hour after the opening, the Ubi share travels in the red on Piazza Affari by almost one and a half points.
