Popolare Santa Venera confirms balance sheet outline for 2001. The bank boosts deposits (+8%) and investments (+11.3%). Dividends at 2,80 € per share (+8.4%)

Acireale, February 21st 2002 - In the meeting that was held today the Banca Popolare Santa Venera's Board of Directors confirmed the balance sheet outline for the year ended December 31st 2001. In this year, the company has been further increasing the net operating income (+3.9%) and dividends (+8.4%).

As regards the main balance sheet aggregates, the Banca Popolare Santa Venera has obtained very positive results: direct deposits total € 802.5 million (+ € 47.5 million - namely 6.3% - with respect to December 2000). Indirect deposits amount to € 549.4 million, compared with € 496.5 million for the previous year (+ 10.6%). As a result, the overall deposits amount to € 1,351.9 million (€ 1,251.5 million for the year 2000), with an increase by 8%.

Also investments have been performing very well, with a consistency amounting to € 528 million, compared with € 474.3 million for the year 2000 (+11.3%). The rate of risk, represented by the net unpaid bills-credits ratio, was 8.5% compared with 9.1% for the previous year.

Although there has been a decrease in interest rates, most noticeable in the second half of the year, the interest margin remained substantially unchanged, € 32.2 million compared with € 32.3 million (- 0.2%), the intermediation margin saw a slight decrease (- 1.0 %), from 51.8 to 51.3 million euros, due to a decrease in bank commissions on orders as a consequence of an unfavourable course of the financial markets.

Operating expenses amount to € 42.2 million (+6.9% with respect to the year ended December 31st 2000); provisions and value adjustments amount to € 558,000 (-84.33%), extraordinary incomes to € 443,000 (-68.7% with respect to December 31st 2000). Gross profits total € 6.5 million (- 20.3%).

After entering taxes on income and provisions, net profits total € 2.7 million (+4% with respect to the previous year).

The Banca Popolare Santa Venera's General Meeting will be held on April 5 2002 to confirm the Balance Sheet for year 2001 and to resolve on the distribution of profits. Dividends that will be given out to the shareholders amount to € 2,80 per share.