(Finance) – The commercial activity of BNL remains dynamic in the first quarter of 2022. This is what emerges from the results announced by BNP Paribas Group, of which the Italian commercial bank is a part. The loans are up by 2.1% compared to the first quarter of 2021 and 4.4% of the perimeter net of impaired loans. Also in strong growth deposits increasing by 8.5% compared to the first quarter of 2021 in all customer segments.
There indirect deposits increased by 3.9%, thanks to the good increase recorded above all inlife insurance (+ 6.6% compared to March 31, 2021). The net inflows of Private Banking is up (0.9 billion euros).
On the brokerage margindown by 3.1% on a historical basis and by 1.9% on a like-for-like basis, is weighed down by the contraction of interest margin, down 4.3% due to the impact of the low interest rate environment, only partially offset by the effect of the growth in credit volumes. The commissions they are down by 1.4% on a historical basis, but up by 1.6% on a like-for-like basis, driven above all by the corporate customer segment. Operating costs, equal to 454 million euros, are down by 1% on a historical basis and are up by 0.8% on a like-for-like basis.
The gross operating result stands at 201 million euroswith a decrease of 7.6% compared to the first quarter of 2021. Consequently, after attributing one third of the results of Private Banking Italy to the Wealth Management business line (Investment & Protection Services division), BNL bc generates a pre-tax profit of 65 million euros, down by 33.8% compared to the first quarter of 2021.