(Telestock) – Popular Bank of Frosinonean institution under observation by Bankitalia, has closed its first semester of 2024 with a useful equal to 9.2 million euros (profit at 31 December 2023 equal to 10.6 million euros, first half of 2023 at 12.3 million euros), with a interest margin of 19.7 million euros and net commissions for 3.5 million euros. The intermediation margin is 23.9 million euros with net adjustments on credits for 3.8 million euros which lead to a net result of financial management equal to 20.1 million euros. Operating costs amount to 6.4 million euros.
THE net economic financing to customers increased by 14 million euros, reaching a total of 775 million euros – of which 90.4% relating to the performing loans sector – with a degree of coverage rose to 9.48%. Financial assets with an impact on overall profitability and Financial assets at amortized cost decreased due to the natural expiry of the securities in the portfolio, also connected to the end of the ECB refinancing operations.
There Direct collection from customers is unchanged compared to 31 December 2023 and equal to 948 million euros. Indirect collection at fair value is down and amounts to 105 million euros. Equity, including profit for the period, is equal to 125 million euros, with a CET 1 capital ratio and Total capital ratio at 18.994% excluding profit for the period.
The Board of Directors has planned to call an Extraordinary Shareholders’ Meeting to be held in first call on 31 October 2024, with the purpose of approving the draft amendment to the Statute, also relating to the procedures for renewing the Board of Directors and the introduction of mechanisms for the formation of lists, as well as theAcceleration of the turnover of the Board of Directors.