MPS, the accounts for the first 9 months of 2019

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MPS closed the first 9 months of 2019 with a profit of 187 million euros. The institute led by Marco Morelli confirmed the gross npe ratio target at the end of 2019 lower than 12.5%  </p><div>

            &lt;! - <EdIndex> -&gt;<p><strong><img style="float: left;" src="http://www.soldionline.it/pictures/2019/01/22/mps-monte-paschi-siena-logo.jpeg" alt="mps-mountain-pastures-sienna-logo" width="200" />MPS </strong>closed the first 9 months of 2019 with a profit of € 187 million. Half of it (94 million euros) was achieved in the third quarter of the year. The institute led by Marco Morelli confirmed the gross npe ratio target at the end of 2019 lower than 12.5%.

MPS, THE ACCOUNTS OF THE FIRST NINE MONTHS 2019

Monte dei Paschi di Siena closed the first 9 months of the year with revenues of 2.36 billion euros, down 6.3% compared to the same period of the previous year.

Interest margins and commissions amounted to 1.17 and 1.08 billion euros respectively, down 11% and 7.3% compared to the first 9 months of 2018. Operating costs were equal in the 9 months at 1.7 billion euros, down 1.1% compared to the previous year.

The gross operating profit of the group was thus equal to 665 million euros, down compared to 803 million euros in the same period of the same period of 2018.

At September 30, 2019, the Siena institute accounted for net value adjustments for impairment of financial assets valued at amortized cost and at fair value with an impact on overall profitability for a total of 365 million euros, substantially in line with that recorded in the same period of 'last year.

The period thus ended with a consolidated profit of € 187 million, against the profit of 379 million euros of 12 months before.

In the third quarter the profit amounted to 94 million euros, 3 more than the 91 million euros in the same period of 2018.

MPS, ASSETS AND FINANCIAL ASSETS AT THE END OF SEPTEMBER 2019

As at 30 September 2019, total MPS funding volumes amounted to € 193.3 billion, up compared to 30 June 2019 by € 0.9 billion and € 6.3 billion compared with 31 December 2018, mainly for the increase in indirect deposits.

Also at the end of September loans to customers amounted to € 90.5 billion, up € 3 billion compared with the end of June 2019.

The exhibition of gross impaired loans amounted to € 14.5 billion, down € 1.4 billion compared with 30 June 2019 due to the deconsolidation of positions classified among assets held for sale, the decrease in net default flows, recoveries on non-performing loans and other reductions linked to write-offs, conversions and payments; the cure for the previous quarter is stable.

The net exposure in terms of impaired loans was instead equal to 6.9 billion euro at the end of September 2019, down both compared to 30 June 2019 (-0.5 billion euro), and compared to 31 December 2018 (- 1.0 billion euros).

As of September 30, 2019, the percentage coverage of impaired loans was 52.6%, down both compared to 30 June 2019 (53.8%) and compared to 31 December 2018 (53.1%).

MPS, RATIO PATRIMONIALI AT THE END OF SEPTEMBER 2019

As for the capital ratios, at September 30, 2019 the Common Equity Tier 1 Ratio stood at 14.8% (compared to 13.7% at the end of 2018) and the Total Capital Ratio was equal to 16.7%, which compares with the value of 15.2% recorded at the end of December 2018.

MPS, ESTIMATES ON 2019

The leaders of Monte dei Paschi di Siena have the Gross NPE ratio target lower than 12.5% ​​was confirmed at the end of 2019; the percentage includes an additional 2 billion euros of disposals planned by the end of 2019, in addition to the transfers in progress and / or already completed but awaiting deconsolidation. In this way, the Sienese institute would achieve its plan objectives in 2021 in advance and without further expected impacts on the income statement.

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