Banca Popolare Santa Venera: stockholders' meeting adopts 2001 balance sheet. Further increases in deposits (+8%) and investments (+11.3%). Dividend at € 2.80 (+8.4%)
Acireale, April 5 2002. The Banca Popolare Santa Venera's annual stockholders' meeting has adopted the balance sheet for the year ended December 31 2001, a period during which the bank has been further increasing both its net operating income (+4%) and the amount of dividends (+8.4%).
As regards the main balance-sheet aggregates there have been further increases in:
Although there has been a decrease in interest rates, most noticeable in the second half of the year, the interest margin is substantially unchanged: € 32.2 million, compared with € 32.3 million for the previous year (-0.2 percent). There has been a slight decrease also in the intermediation margin, which stood at € 51.3 million, compared with € 51.8 million in 2000 (-1.0 percent), as a consequence of an unfavourable course of the financial markets in the second half of 2001.
After entering operating expenses for € 42.2 million (+ 6.9 percent with respect to December 31 2000), provisions and value adjustments for € 558,000 (-84.33 percent, in confirmation of less risks associated with the disbursement of credit facilities), and extraordinary incomes for € 443,000 (-68.7 percent), the gross operating income totalled € 6.5 million (-20.3 percent).
Considering also taxes on income and provisions, net profits for the period amounted to € 2.7 million (+ 4 percent with respect to the previous year).
The Santa Venera's General Meeting has resolved on the distribution of dividends, which amount to € 2.80 per share.
The Credito Valtellinese Group is currently considering a plan aimed at the reorganization of the Group's branch network in Sicily. The plan is leading to the establishment of a single member bank serving any area of the island through a network including more than 130 branch offices.
Direct deposits: € 802.5 million (+6.3 percent, which means + € 47.5 million, with respect to December 2000)
Indirect deposits: € 549.2 million, compared with € 496.5 million for the previous year (+10.6 percent)
As a result, as at December 31 2001, deposits amounted in all to € 1,351.7 million, compared with € 1,251.5 million in 2000 (+8 percent)
The amount of investments stood at € 528.1 million, which marks the very positive trend of the aggregate over the year. In fact, as at December 31 2000, it stood at € 474.3 million (+ 11.3 percent). The overdue bills-investments ratio, which represents the risks associated with investments, was 8.5 percent, compared with 9.1 percent for the previous year.
