The Board of Directors of Banca Finnat Euramerica
SpA, which met today, examined and approved the preliminary consolidated data of the Group as of 30 June 2022. The accounts showed that, in the first half of the year, the net profit of Banca Finnat stood at 2, 3 million, compared to € 2.8 million in the same period of 2021, down by 17.5% on an annual basis, mainly due to the greater adjustments made in the half year.
The intermediation margin amounted to € 33 million from € 33.2 million at 30 June 2021. Positive contributions were received from net commissions, which increased by almost 10% compared to the corresponding period of the 2021 financial year, from € 25.8 million to € 28.3 million (with an incidence on the earning margin reached 86% from the previous 77.7%); from an interest margin of € 4 million from € 5.8 million
as at 30 June 2021; dividends and similar income for € 554 thousand (€ 722 thousand at 30 June 2021); from Profits from the sale or repurchase of financial assets equal to €
826 thousand from € 44 thousand at June 30, 2021. The negative contributions are, on the other hand, derived from a negative net result from trading activities of € 278 thousand, against a positive balance of € 1.18 million at June 30, 2021, as well as from a negative net result of € 440 thousand from other financial assets mandatorily measured at fair value (a similarly negative net balance of € 329 thousand at 30 June 2021).
Operating costs decreased by 6%, from € 27.5 million at 30 June 2021 to € 25.8 million, for an incidence on the brokerage margin which fell to 78.4% from the previous 82.7%.
The Cet 1 of the Capital Ratio stood at 33.7%.