Italy’s Banca Aletti posts positive H1 results

Italy’s Banca Aletti, the investment banking arm of Banco Popolare, posted a net profit of €85.7m at the end of the first half of the year, a 6.5% increase from June 2011.

The operative profit of the bank was €175.1m at the end of June, a 3% year on year increase. Operative management profit was €126.5m, a 4.7% increase as compared to June 2011.

Meanwhile, costs decreased to €48.6m during the first half.

“In a complex macroeconomic environment with very high volatility we managed to achieve significant results at the end of the first half. We are very satisfied,” said chief executive Maurizio Zancanaro.

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