(Telestock) – Bank System reiterates that Net profit for the first halfonce adjusted for the cost incurred for the contribution to the interbank fund, brought forward this year from the usual fourth quarter to the second quarter, is equal to 9.4 million euros. The half-year profit on a comparable basis year-on-year is therefore up 11% excluding all payments for systemic risks (SRF and FITD).
Ilaria Bennati CFO of Banca Sistema stated “we presented the Banca Sistema half-year report with positive results. The intermediation margin is up both compared to last year by 11% and to the previous quarter, an important indicator to observe in addition to the accounting interest margin which does not highlight the contribution of superbonus trading and commissions. The trend in profit is positive, the decline of which derives from the early accounting in Q2 compared to the traditional Q4 of the contribution to the FITD for 5.1 million; excluding all payments for systemic risks (SRF and FITD) the net profit is up by 11% y/y with positive implications for the end-of-year results”.