Montepaschi Group 9M 2008 results approved
- Net income at EUR 640.9 mln inclusive of integration charges in the amount of EUR 159.7 mln 2
- Net Income (exc PPA) 672.0 mln€ (-16.8% yoy)
- Basic income up 4.5% yoy, costs down 2.2% yoy
- Operating income up 1.8% yoy
- More flows of new customers
- Banca Antonveneta showed significant signs of a turnaround and posted a recurring net income of approx. EUR 165 mln
The Board of Directors of Banca Monte dei Paschi di Siena Spa has approvedthe accounts as of September 30th, 2008. The Antonveneta contribution was only included since June 2008,because the acquisition was performed on May 30th, 2008.
In the first nine months of 2008 the Montepaschi Group posted a good commercial performance. Constantly improving customer relationships resulted in an expansion of the Group’s market share in all main business segments at a time when the Group was in the middle of a major restructuring process.
With respect to operations and income, capital and commercial aggregates were on the increase. Volumes grew significantly, as did market share and core revenues. Evidence for that can be found in an increase of Group basic income ( 4.5%).
