Banca Popolare Santa Venera confirms half-yearly report on operations. Increase in investments, deposits unchanged. Carlo Negrini appointed Managing Director. Giuseppe Contarino becomes General Manager
Acireale, September 5 2001 - Banca Popolare Santa Venera SpA - a Credito Valtellinese Group member bank - confirmed results for the first half of 2001.
Substantially unchanged (-0.37%), deposits amounted in all to L. 2,407 billion, while investments to L. 946 billion, with an increase by 3.05% compared with the end of the previous year. In particular, direct deposits amounted to L. 1,429 billion, compared with L. 1,462 billion (-2.26%), indirect deposits to L. 978 billion compared with L. 954 billion (+2.52%).
As regards the profit and loss account, the interest margin (L. 31 billion) saw an increase by 3.96% in comparison with the first half of 2000.
Ordinary assets - after depreciations, adjustments and provisions - amounted to L. 3.3 billion, while net profits, including extraordinary incomes, totalled L. 2.1 billion (+ 4.68% compared with the same period of 2000).
As for Banca Popolare Santa Venera branch network, the first half of 2001 saw the opening of more branch offices located in Sant' Agata Li Battiati, Riposto, Trecastagni and San Giovanni la Punta.
The Board of Directors appointed Carlo Negrini Managing Director and Giuseppe Contarino General Manager.
With respect to June 30 2000, the overall deposits saw an increase by 4.20% (direct deposits: + 1.35%, indirect deposits: + 8.67%, investments: + 9.11%)
The brokerage margin was negatively influenced by quite an unfavourable course of the financial markets. In fact, the margin decreased by 3.46%, from L. 49.1 billion to L. 47.4 billion. The gross operating income totalled L. 4.1 billion.
