Bancaperta's Board of Directors approves half yearly figures as at 30 June 2006: net profit for the period up 12.9%
| ECONOMIC FIGURES (figures shown in millions of euros) |
First half 2006 | First half 2005 | Change % |
| Net profit | 6.4 | 5.7 | +12.9% |
| Brokerage margin | 17.9 | 18.1 | -1.5%% |
| Gross operating profit | 9.8 | 8.7 | +13.3% |
| FINANCIAL FIGURES (figures shown in millions of euros) |
30.6.2006 | 31.12.2005 | Change % |
| Direct deposits | 442.1 | 430.2 | +2.8% |
| Indirect deposits | 1,424.1 | 1,410.7 | +0.9% |
| Overall deposits | 1,866.2 | 1,840.9 | +1.4% |
| Financial assets held for trading | 1,052.3 | 681.6 | +54.4% |
Milan, 28 August 2006. The Board of Directors of Bancaperta, a Credito Valtellinese Group company, met with chairman Miro Fiordi presiding to examine and approve the results for the first half of 2006, which were determined by applying IAS/IFRS international accounting standards for the first time. The figures indicate positive operational trends. In particular, banc@perta line Internet services continued to expand, totalling 237,032 customers on 30 June 2006, an 8.2% increase over 31.12.2005.
The profit and loss account shows considerable growth (an 106.8% annualised increase) of net profit from trading activity, which stood at € 4.6 million. Net commissions totalled € 10.4 million (- 10.4%) in the light of the sale of the asset management branch to Aperta SGR, a Group company specialised in the management of individual and collective savings, which took place in October 2005. Dividends and similar income stood at € 2.2 million, up 20.3%. The brokerage margin stood at € 17.9 million, substantially unchanged from the first half of last year.
Operating costs totalled € 8.3 million, down 15.1%, and the gross profit from operations stood at € 9.8 million (+ 13.3%).
Taxes, estimated at € 3.4 million, lead to a net profit for the period of € 6.4 million, up 12.9% from the values reported in the first half of 2005.
The bank's financial situation includes direct deposits from customers on the order of € 442.1 million, + 2.8% over the values at the end of the year.
Indirect deposits stand at € 1,424.1 million, in line with the figure from the end of the previous year. Overall deposits stand at € 1,866.2 million, up 1.4% from the end of 2005. Lastly, financial assets held for trading totalled € 1,052.3 million, marking a 54.4% increase over 31.12.2005.
It should be noted that the first application of IAS/IFRS international accounting standards led to an upwards change in the Bank's shareholders' equity, which increased by € 1.5 million on 1 January 2005, net of the relative tax effect. The increase is mainly due to the exercise of the option to recognise real estate property at fair value instead of cost during first application (see IFRS 1) and of recognition of financial assets entered to the portfolio of financial assets held for trading at fair value.
Company Contacts:
Tiziana Camozzi
Institutional Communication and Press Service
Telephone 02 80637471
Email: camozzi.tiziana@creval.it
Raffaella Premoli
Institutional Communication and Press Service
Telephone 02 80637403
Email: premoli.raffaella@creval.it
