(Finance) – Credem closed the first nine months of the year with a profit of 222.6 million euros, up by 23.5% compared to last year, without considering the accounting contribution of the acquisition of Cassa di Risparmio di Cento which had positively influenced (95.6 million) the result as at 30 September 2021. Considering this item in 2021, the consolidated net profit is down by 19.3%.
At the end of September 2022 the brokerage margin it stood at 1,041.6 million, compared to 949.6 million in the same period of the previous year (+ 9.7%). Within the aggregate, the financial margin it amounted to 439.7 million compared to 361.7 million at the end of September 2021 (+ 21.6%). The net commissions they amount to € 494.4 million (+ 4.4%). The gross operating result it amounted to 457.5 million, up 20.7% compared to 379.1 million in the same period of the previous year.
The Common Equity Tier 1 Ratio at Group level at 15.19%, fully loaded CET1 ratio calculated on Credemholding equal to 13.68%, at the highest levels of the system. The Tier 1 capital ratio is 14% and the Total capital ratio is 16.69%. For 2022, the minimum CET1 Ratio (SREP) assigned to the Group is 7.56%, the lowest requirement among Italian banks supervised by the ECB.
During the same period Credemholding reported a consolidated net profit of 172 million of euro, down compared to the 214.1 million euro at the end of September 2021. The result was affected in particular by the lower contribution by the subsidiary Credito Emiliano excluding the positive effects of the accounting of the merger by incorporation of Cassa di Risparmio di Cento .