Approval of 9-month results as at 30 September 2007 - MPS Group: net profit of € 718.1 Million
Marked acceleration of commercial business combined with strengthening of Group’s capital profile
Major increase in operating volume and market share
- Loans: 13% (market share = 6.43%, 16 bps vs. 2006 year-end);
- Leasing: 26.4% (market share = 3.3%, 90 bps vs. 2006 year-end);
- Mortgages: 30%;
- Savings & investment products: 7.6%;
Significant structural growth of main revenue components:
- Net interest income: 7.3%;
- Income from banking activities: 5.5%;
Further improvement of Group liquidity position:
- Direct funding: 17.7% (market share = 6.61% vs. 6.48% at 2006 year-end);
- Wholesale position: € -2.6 billion vs. € -3.6 billion in June 2007 (€ -9.7 billion in September 2006);
- Loan/funding ratio: <1, further improvement vs. June 2007;
Net operating income: 11% ( 16.4% net of proceeds from sale of equity investments);
Strong increase of customer base: 127,000 in first 9 months with a tangible increase in retention rate;
Decrease in the percentage of deteriorated loans (-27 bps vs. 2006 year-end) and strengthening of their coverage ( 180 bps vs. 2006 year-end);
Net profit of € 718.1 million: 4.2% (around 10% net of proceeds from sale of equity investments;
Between end of November 2007 and by end of first quarter 2008 a short list of partners for reorganisation of AM and credit recovery areas.
