Where's Banca it closed the first half with a net profit of 106 million, approximately double that recorded in the corresponding period of 2013. In the wake of this result, at the end of the morning the bank's stock on the Stock Exchange gained more than two percentage points, to 5,63 EUR.
The Bergamo banking group improved its interest margin (+7,5% on an annual basis). On the other hand, there was a new contraction in operating costs, which fell by 2,6% on an annual basis.
In the period January-June 2014, net value adjustments for loan impairment rose to 429,1 million, against 383,9 million in the first half of 2013, defining an annualized cost of credit of 0,99% of total net loans, against the previous 0,84%. Net non-performing loans fell by 0,6%.
As for ratios, the Common Equity Tier 1 ratio is estimated at 11,7% when fully loaded (11,2% in March 2014). Taking into account the mandatory periodic update of the risk parameters and other expected factors incorporated from the end of 2014, the estimated Common Equity Tier 1 ratio when fully loaded would be 10,9% (compared to 10,5% in March 2014).
