(Finance) – The 2023 half-year results of the South Tyrolean bank Volksbankshow a Net income of more than 53 million euros. The net assets tangible continues to rise and reaches 864 million euros, equal to 18.1 euros per share.
Positive development of intermediated customer volumes, with a slight increase in direct collection and of the jobs and an excellent development of indirect collection (both administered and managed) up 7.1%.
Increase of revenues characteristics of the Bank, which reached over 190 million euro, thanks to an increase in the interest margin and a stable commission margin.
Further reduction of credit risk which made it possible to further reduce the cost of risk. The net share of the non-performing loan portfolio on the total portfolio (net NPL Ratio) has now reached 2.1%.
Contained growth in costs, despite the inflationary effect, which has allowed for a reduction of the Cost Income Ratio (CIR, ratio between costs and revenues) of the Bank at 47.8%, among the best among Italian commercial banks.
Net profitability shows a return on equity (RoTE) of 13.1%, which stands at an excellent level well above the Italian and European average.