(Alliance News) - The board of directors of Banca Profilo Spa on Wednesday approved the consolidated interim report on operations as of Sept. 30, a perid ended with a net profit of EUR10.6 million, up EUR2.2 million from the result for the same period last year, when it was EUR8.4 million.

Total customer deposits, including net trust deposits, stood at EUR5.8 billion compared to EUR5.4 billion as of September 30, 2022. The figure as of December 31, 2022 was EUR5.6 billion.

Total net revenues as of September 30 were EUR56.9 million up from EUR50.2 million a year earlier.

Net interest income was EUR24.6 million and compares with a figure of EUR26.3 million in the same period last year.

Banca Profilo's consolidated equity as of September 30 was EUR130.5 million with a consolidated CET 1 Ratio of 23.09 percent. The fully loaded consolidated CET 1 Capital Ratio was 23.04%.

The increase noted on the CET1 ratio, compared to 22.71% at the end of December 2022, "is mainly attributable to the reduction in risk-weighted assets, particularly on credit risk. These indicators do not take into account the result in formation of the first nine months of 2023," the company explains in the released note.

The Liquidity Coverage Ratio (LCR) liquidity indicator, determined on the consolidated prudential perimeter, is 475.7 percent.

By Maurizio Carta, Alliance News reporter

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