(Finance) – Bank Profile closed i first nine months of 2022 with a Net income equal to 8.5 million euros (-16.8% y / y), down by 1.7 million euros compared to the result of the same period last year, but up by 0.6 million euros (+ 7.4% y / y) net of non-recurring profits relating to the sale of the Swiss subsidiary recorded in the same period of 2021.
There total customer depositsincluding net Fiduciary Inflows, amounted to € 5.4 billion (-7.0% y / y), depending on the reduction in value of indirect deposits following the decline in the markets and despite positive net inflows from Private banking for 113 million euros.
The interest margin in the first nine months of 2022 it amounted to 26.3 million euros (+ 120.3%). The increase is mainly linked to the greater contribution deriving from banking and trading debt securities, in particular on government securities linked to inflation, as well as the growth in loans managed by investment banking and guaranteed by the state.
The net commissions they amount to 17 million euros, down on the figure for the first nine months of 2021 (-10.9%). The result is mainly due to lower commissions related to placements and to the reduction in assets under management and consulting in Private Banking.
The board of directors “noted that the activities of the Parent Company continue Arepo BP, with the assistance of the advisors Lazard and Wepartner, for the selection of primary stakeholders interested in acquire a stake in the share capital of Banca Profilo with a view to further development and efficiency of the same “, reads the note on the accounts.