Italy’s Banca IMI posts net profit of €271m – mid-year report

Intesa Sanpaolo Group’s Banca IMI has posted total inflows of €685m in first half of 2013.

Net profit were down compared to the €40m amount registered in the first half of 2012, as well as total inflows, which were of €860m in June 2012.

Of the total €685m inflows, €484m came from Capital Markets, €148m from Structured Finance and €53m from Investment Banking.

As the report also shows, operating costs amounted to €170m, down compared to the €177m amount of June 2012. Operating profit consequently came to €515m, compared to €683m for the same period of 2012.

According to the report, Banca IMI maintained its capital strength, with Core Tier I at 14.3%.

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