How are the BNL accounts and why the profit is falling

29 October 20213 years ago babelfish

Bnl closed the third quarter with a pre-tax profit of 80 million, down by 30.2% compared to the third quarter of 2020. Full details

BNL closed the third quarter with a profit before tax of 80 million, down 30.2% compared to the third quarter of 2020. As a result, we read in the note on the results of the parent company BNP Paribas, BNL refers to commercial bank that records loans down by 0.8% compared to the 2020 quarter but up by 1.4% on the perimeter, net of impaired loans.

Deposits grow by 9.6% compared to the third quarter of 2020. The brokerage margin is down by 0.4% compared to the third quarter of 2020, to 667 million.

Net interest income decreased by 7.2%, with the impact of the low interest rate environment only partially offset by the effect of the growth in volumes.

Commissions increase by 10.6%.

The cost of risk, equal to 130 million, increased by 9 million due to a targeted increase in provision rates. The default number is limited.

In the nine months, Bnl generated a pre-tax profit of 298 million (+ 9.1%).

The bank led a few months ago by the CEO Elena Goitini , recorded an increase in operating costs in the quarter to 449 million (+ 5.4%) above all, a note reads, due to the taxes subject to the IFRIC 21 regulation, higher in the third quarter of 2021, and despite the continuing effects of adaptation measures (Quota 100 retirement plan).

In the nine months the bank recorded operating costs of € 1,342 million (+ 2.3%), due to the resumption of activity and a higher level of taxes.

Gross operating income grew by 0.7%, reaching € 669 million.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/come-vanno-i-conti-di-bnl-e-perche-cala-lutile/ on Fri, 29 Oct 2021 13:27:43 +0000.