The Shareholders' Meeting of Banca dell'Artigianato e dell'Industria has approved: (|) a plan to increase share capital by a maximum of approximately 80.9 million euros, as well as (||) the 2004 financial statement, which shows a €393,000 profit BRESCIA, 30 March 2005 At an EGM of Banca dell'Artigianato e dell'Industria held this evening in Brescia, shareholders approved a plan to increase paid-in share capital by a maximum of approximately 80.9 million euros, to be offered through stock options to BAI shareholders in multiple tranches, granting the Board the power to set the terms and conditions of execution.
Subsequently, an Ordinary General Meeting of Shareholders examined and approved the draft financial statement as at 31 December 2004-with figures that were reported to the market on 23 February 2005-which shows considerable development in the primary economic indicators and significant growth in total assets.
2004 Financial Statement: summary (figures shown in €/000)
The period results confirm an evolution in underlying processes connected to expansion strategies which are already being implemented through the opening of new branches. The past financial year was a turning point for the bank, both from an economic standpoint-the year comes to a close with a €393,000 profit-and in terms of the evolution of BAI's mission as part of the Creval Group through the expansion of its area of activity, which, in addition to further strengthening its presence in the territory of Brescia where it is currently focused, will progressively extend towards the region of Veneto, where it has been operative since early 2005 through its Vicenza office and branches at Thiene, Arzignano, and Montecchio Maggiore.
The Shareholders' Meeting also resolved to reappoint the Board of Directors whose term is expiring, appointing the following board members for the three-year period 2005-2007: Luciano Camagni, Mario Cotelli, Giovanni Paolo Monti, Diego Muffatti (representatives of Gruppo Credito Valtellinese), Renato Gnutti, Valerio Marinelli, Pietro Torchio, Guido Zanetti (representatives of the Brescia business community), Nereo Terreran (representing Banca Popolare di Cividale). Newly appointed board members are:
Mr.Diego Muffatti: Mr. Valerio Marinelli, administrator of many companies in the Metra industrial group, the Italian leader in the sector of profiled aluminium.
For further information, contact:
The Shareholders' Meeting also appointed the institution's new Board of Directors
2004
2003
var. %
Interest margin
5.948
4.639
+28.2
Brokerage margin
8.068
5.940
+35.8
Gross operating profit
2.078
1.535
+35.3
Profit or loss on ordinary operations
963
-535
Net profit or loss
393
-629
Direct deposits
198.519
114.714
+73
Indirect deposits
48.851
35.265
+38,5
Loans
197.436
138.504
+42,5
The Board of Directors then met to confirm the appointment of Renato Gnutti as Chairman and Luciano Camagni as Vice Chairman and Managing Director. The Board then appointed Mr. Giovanni Vaninetti to the office of Deputy General Manager, where he will assist General Manager Anna Cracco.
Gruppo Credito Valtellinese administrator and secretary of the parent company's Board of Directors;
Tiziana Camozzi
Institutional Communications
Telephone +39 02 80637471
E-mail: camozzi.tiziana@creval.it
