Banca Finnat Euramerica S.p.A. announced consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported interest income and similar income of EUR 1,487,000 against EUR 1,804,000 a year ago. Net income from financial operations was EUR 14,533,000 against EUR 15,059,000 a year ago. Profit from current operations before taxes was EUR 2,737,000 against EUR 3,648,000 a year ago. Profit from current operations after taxes was EUR 2,062,000 against EUR 2,620,000 a year ago. Profit for the period of parent company was EUR 1,573,000 against EUR 1,985,000 a year ago.

For the quarter, the company reported impairment losses/reversals of impairment losses on tangible assets was EUR 111,000 against EUR 133,000 a year ago. Impairment losses/reversals of impairment losses on intangible assets was EUR 39,000 against EUR 35,000 a year ago.

Based on the forecasts developed by the Offices of the Bank and its subsidiaries, The company expects to attain a consolidated net profit, in the current year 2017, no lower than the profit recorded in 2016 which included significant revenues for performance commissions related to the subsidiary InvestiRE SGR S.p.A.