(ANSA) – ROME, MAY 11 – The war, and in particular the write-downs of Russian assets, weigh on the quarterly results of Italian banks, which halved from 2.9 to 1.5 billion euros, while remaining in positive territory. This is what emerges from the analysis on the financial statements of the First Cisl research office, according to which, however, the increase in the spread is worrying, which caused a decline in the Cet1 index “dropped by almost one percentage point” compared to the end of the year and could lead to further deteriorations. Adjustments on loans increased by 82.6% but without the write-downs of the Russian activities of Unicredit and Intesa, the trend would be even the opposite, with a strong reduction in adjustments and their reduced incidence (2.4%) on operating revenues .
“The war did not induce the banks to change their dividend distribution and purchase of own shares policy – comments the Secretary General of First CISL Riccardo Colombani – according to which the banks cannot continue the cost compression strategy, highlighted by the decline below 50% of the cost / income ratio, clearly below the European average, and by the continuous closure of branches “. (HANDLE).
Source: Ansa
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