Banca Popolare di Rho increases profits and offers a wider range of services to the clientele in its home territory

The Banca Popolare di Rho's Board of Directors has confirmed these days the balance sheet for 2001. In the year ended on December 31st 2001 the bank, which has now been a member of the Credito Valtellinese Group for four years, has been further strengthening its financial position and improving its economic results.

The bank has also been extending its branch network opening a new branch office in Canegrate, one in Rho via Mascagni, street corner with via Pace, where most factories and industries are based. The office of via Bettinetti now hosts sub-branch 2 and the local treasury offices. As from the year 2002, in fact, the Banca Popolare di Rho is playing the role of treasurer for the Rho local government.

As regards the main aggregates in the balance sheet, assets pertinent to the office in Busto Arsizio, which is now part of the parent bank's branch network, are not to be taken into account. Nevertheless, deposits amount in all to € 78.2 million, investments to € 45.3 million, of which only 1.49% refer to overdue items, thanks to the high quality of the credit granted by the bank. As for the profit and loss account, the gross operating income total € 898,000 (+22.5%) and net profits close to € 595,000.

Following the opening of the new branches and the importance attached to the role of treasurer that the Banca Popolare di Rho has assumed, the bank is further strengthening its financial position, thanks in particular to activities pertinent to finance, insurance and virtual banking (the banc@perta line), and improving the quality of the services provided to its clientele in Rho and in the surrounding area.