trending Market Intelligence /marketintelligence/en/news-insights/trending/BwE9c5cHNPVP9ifl9bL05w2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Banca Carige Q1 loss narrows YOY despite bank fund contribution

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Banca Carige Q1 loss narrows YOY despite bank fund contribution

reported afirst-quarter net loss attributable to the parent company of €41.0 million,compared to a restated net loss of €45.5 million a year ago.

Thebank noted that its first-quarter results took into account the €9.2 million incontributions paid to the Italian national resolution fund.

Netinterest income amounted to €83.9 million, down from €88.4 million in the firstquarter of 2015. Net fee and commission income also fell over the same period,to €60.5 million from €61.7 million. Net loss on trading reached €4.8 million,compared to a net profit of €4.5 million a year ago.

Thebank reported net losses on impairment of loans of €92.4 million, up from €78.5million in the first quarter of 2015. Net provisions for risks and chargesincreased on a yearly basis to €621,000 from €118,000.

Thebank's phased-in common equity Tier 1 ratio stood at 12.3% as of March 31, up10 basis points from the ratio at the end of 2015. The leverage ratio stood at8.1% and the liquidity coverage ratio at 129% at March-end.

BancaCarige added that it received from the ECB a new request that the lender submit to the centralbank the guidelines of its business plan and medium-term plan by May 31 and thefull details of the plans by June 30.