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Banks: Uilca, profits rise to 6.8 billion but uncertain future

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Scrapping does not hit targets, collections stopped at 18 billion (ANSA)

(ANSA) – MILAN, 09 AUGUST – The ten largest Italian banks in the first half of the year recorded an overall growth of 5.5% in accounting profit, compared to the same period of the previous year, reaching 6.8 billion of Euro. This is what emerges from an analysis by the Uilca Orietta Guerra Study Center which sees a situation of “uncertainty for the future due to a series of factors such as the increase in the costs of energy and raw materials”.

The economic results “were influenced by extraordinary transactions, such as the purchase of Carige by Bper and the write-downs made by Intesa Sanpaolo and Unicredit on the assets involved in Russia’s war against Ukraine, which, however, do not seem to have an impact on the achievement of objectives indicated in the respective industrial plans “, explains the research.

In the first half of 2022, revenues recorded an increase of 3.9%, both on the side of interest margins (+ 7.2%), which in perspective could further grow due to the widening of the funding-loan spread, and on the commission side (+ 2.2%). In this regard, there is the “need – continues Uilca – to invest the enormous liquidity present in the current accounts of Italians, eroded by inflation and not productive for the country”.

Inflation and rising costs of energy and raw materials are “phenomena we are no longer used to, such as the increase in interest rates that central banks have begun to implement to cool price growth. involves the risk of strong negative impacts for households and businesses “, said the secretary general of Uilca Fulvio Furlan. (HANDLE).

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Source: Ansa

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