Ubi Banca closed 2017 with a accounting profit of 690,6 million euros compared to a loss of 830,2 million for "stand-alone" UBI in 2016. Net of non-recurring items, the useful instead it stood at 188,7 million euro, against the loss of 474,4 million for the "stand alone" bank two years ago.
The group contributed to the result, explains the group in a note operating income generated by the group extended to include the three acquired banks (Etruria, Marche and Carichieti) for 3,58 billion, an increase of approximately 459 million compared to the 3,12 billion realized by "stand alone" UBI in 2016.
- operating charges - which do not yet reflect the cost savings envisaged in the Business Plan - instead amounted to 2,43 billion, up by only 274 million compared to the 2,15 billion recorded "stand alone" in 2016, thanks to the containment measures implemented last year.
Il Cet1 consolidated is at 11,43% “fully loaded”, from 11,54% as at 30 September 2017, and includes the proposal for a dividend by 11 cents per share, for a total of 125,5 million (against 107,1 million in 2016).
Ubi then approved the sale of a significant package over the next 3 years non-performing loans in order to accelerate the achievement of a gross non-performing loan ratio below 10% between 2019 and 2020, depending on market conditions.
Compared to the 2018 outlook, “the normalized net result is expected to grow significantly” compared to 2017. During 2018, with the migration of Banca Teatina by the end of February, the integration of the new banks is expected to be completed in compliance with the expected integration times and costs. Also in 2018, the transfer of the first tranche of the non-performing loan portfolio is planned, identified in the context of the First Time Adoption of the new international accounting standard Ifrs9 in force since January.
