Martedì, 25 Settembre 2018
ROME

Italian bank profits slump to 1.0 billion euros in 2012

English
© ANSA

Rome, May 21 - Italian banks' profits have taken a
heavy toll during the past year, and margins are at
"historically low levels," banking association ABI said in a
report published Tuesday.
Overall, Italian banks' combined profits in 2012 were 1.0
billion euros, a five-fold decrease from the 5.0 billion euros
reported at the end of 2011.
Furthermore, excluding various one-offs, write-downs and
corrections, overall the banking industry in Italy would have
reported a combined 1.8 billion euro loss for 2012.
The ABI report takes into account the results of 39 banking
groups.
The decrease in banks' margins is largely due to the
deteriorating quality of credit, Giovanni Sabatini, ABI managing
director, said in the report.

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