Banca Finnat Euramerica S.p.A. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Announces Impairment Loss for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for 2017
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.