Intesa Sanpaolo Bank achieves positive results in the first half of 2013Publish date: 05-08-2013
Intesa Sanpaolo Bank achieves a positive net result for the second consecutive quarter, according to the consolidated results reported by Intesa Sanpaolo Group at the end of the first half of 2013. The Romanian Subsidiary of Intesa Sanpaolo Group registered a net profit of 0.5 million lei and the operating profit increased by almost 40% from 30 million lei in first half of 2012 to over 41 million lei in the first 6 months of 2013.
To this favourable result contributed the growth of revenues by 2% up to 107 million lei as well as the decrease of operational costs by over 12% to 65 million lei, compared to the same period last year. The impact of the provisions on the overall net result of bank fell down from 114 million lei in the first half of 2012 to 41 million lei in the first half of this year.
In terms of volumes, Intesa Sanpaolo Bank reported a gross loan portfolio growth of 4% compared to June 2012 to 4.16 billion lei, while the total volumes of loans in the banking system decrease by over 2%. Deposits from customers increased by 20% from June 2012 to 2.66 billion lei, while total banking deposits increased by only 2.7%. Intesa Sanpaolo Bank net assets after provisions were maintained at 5 billion Lei.
In the last 6 months the bank has played an active role in the governmental program "The First Home" and has already allocated 20% of the loan agreement with the European Investment Bank (EIB) aimed to co-finance projects initiated by small and medium enterprises (SMEs) and public entities in Romania. Intesa Sanpaolo Bank has also strengthened its partnerships to generate further commercial synergies with organizations, including the Agency for Payments and Intervention in Agriculture (APIA), Rural Credit Guarantee Fund (RCGF), The National Credit Guarantee for Small and Medium Enterprises (FNGCIMM).
Intesa Sanpaolo is the leader in Italy in all business areas (retail, corporate and wealth management). The Group offers its services to 11.1 million customers through a network of 5,200 branches well distributed throughout the country and a market share no lower than 15% in most Italian regions. Intesa Sanpaolo has a selected presence in Central Eastern Europe, Middle East and North Africa with over 1,500 branches and 8.3 million customers operating in retail and commercial banking in 12 countries. Moreover, Intesa Sanpaolo has an international network of specialists supporting corporate customers across 30 countries, in particular in the Middle East and North Africa and in those areas where Italian companies are most active, such as the United States and BRIC Countries.
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