Highlights

In 2013, the result of operations for the year comes to Euro 155.3 million, which, in comparison to the prior year result of Euro 127.4 million, is up by around 21.9%.

Shareholders’ equity at 31 December 2013, inclusive of net profit for the year attributable to the Parent Company, amounted to Euro 818.7 million compared to Euro 821.2 million at the 2012 year end.

Total customer funds under management rose at the year end to Euro 18.5 billion, up in total by Euro 0.4 million, equating to 2.4% of the prior year figure, attributable to direct deposits (+6.5%), while indirect deposits fell slightly by 0.3%.

The direct deposits balance at the end of 2013 reached some Euro 7.8 billion, representing a positive change of some Euro 0.5 billion (+6.5%).

Indirect deposits, of a total amount of some Euro 10.7 billion, fell in the year by less than Euro 0.1 billion (-0.3%), due to institutional customer deposits that were down by 2%.

Main economic and financial data

Assets

Assets

   Changes
Amounts in thousands euros31.12.201331.12.2012abs.%
Total assets 9,270,291 8,862,993 407,298 4.60%
Financial assets 1,607,785 1,165,593 442,192 37.90%
Due from banks 275,848 250,480 25,368 10.10%
Due from customers 6,955,429 6,949,145 6,284 0.10%
of which Due from regular customers 6,837,487 6,611,433 226,054 3.40%
of which Due from institutional customers 117,942 337,712 -219,770 -65.10%
Tangible assets 144,417 150,890 -6,473 -4.30%
Intangible assets 25,506 25,903 -397 -1.50%
Due to banks 438,026 441,677 -3,651 -0.80%
Due to customers 5,489,782 5,041,168 448,614 8.90%
Outstanding securities and Financial liabilities stated at fair value 2,277,709 2,255,413 22,296 1.00%
Assets (including Profit for the year) (1) 818,716 821,177 -2,461 -0.30%
Regulatory capital 823,321 827,661 -4,340 -0.50%
Indirect deposits 10,741,465 10,777,507 -36,042 -0.30%
of which Indirect deposits from regular customers 7,454,136 7,424,007 30,129 0.40%
of which Indirect deposits from institutional customers 3,287,329 3,353,500 -66,171 -2.00%

Financial data

Financial data

   Changes
Amounts in thousands euros31.12.201331.12.2012abs.%
Operating income 366,786 351,078 15,708 4.50%
of which Net interest income 194,336 200,326 -5,990 -3.00%
Operating expenses 211,457 223,651 -12,194 -5.50%
Income from operations 155,329 127,427 27,902 21.90%
Profit (Loss) from operations after taxes -6,534 14,902 -21,436 -143.80%
Non-recurring Profit (Loss) after taxes 1,636 1,622 14 0.90%
Profit (Loss) for the year (1) -5,000 20,201 -25,201 -124.80%

(1) pertaining to the Parent Company;

(2) from the Reclassified Income Statement

Balance sheet & ratios

Balance sheet and income statement ratios

31.12.201331.12.2012Variazioni ass.
Capital/Total assets 9.2% 9.8% -0.6%
Capital/Loans to customers 12.7% 12.7% 0.0%
Capital/Due to customers 16.1% 17.8% -1.7%
Capital/debt securities in issue and Financial liabilities designated at fair value 36.7% 36.5% 0.2%
Tier ratio 1 18.0% 18.3% -0.3%
Total capital ratio 19.6% 20.1% -0.5%
Financial assets/total assets 19.0% 14.6% 4.4%
Due to banks/Total assets 2.7% 2.8% -0.1%
Loans to customers/Total assets 72.6% 77.0% -4.4%
Loans to customers/Direct customer deposits 88.0% 94.3% -6.3%
Due to banks/Total assets 5.7% 5.9% -0.2%
Due to customers/Total assets 57.3% 54.9% 2.4%
Debt securities in issue and Financial liabilities designated at fair value 25.2% 26.8% -1.6%
Direct customers deposits/Total assets 82.5% 81.6% 0.9%
Cost/Income ratio 56.1% 61.0% -4.9%
Net interest income/Operating income 51.3% 55.7% -4.4%
Result of operations / Operating income 43.9% 39.0% 4.9%
Net profit (loss) from operations after tax / Shareholder's equity (2)  0.5% 2.9% -2.4%
R.O.E. (2) 1.2% 1.2% 0.0%

(2) equity excluding net profit (loss) for the period;
(3) based on the number of employees calculated as a straight average

Last updated 05/06/2015