(Alliance News) - The board of directors of Banca Profilo Spa on Friday approved the financial report as of December 31, closing with a net profit of EUR12.1 million, up EUR1 million from last year's result. The dividend from the 2023 fiscal year profit in the amount of EUR6.9 million will be EUR0.0105 per share, up from EUR0.014 in the amount of EUR9.19 million.

Net interest income for 2023 is EUR28 million, down from EUR41.1 million last year.

"The reduction is mainly determined by the increase in the cost of funding, only partially offset by the higher return on assets linked to the dynamics of rates, both in the securities component and in that of loans in Private and Investment Banking," reads the released note.

Net commissions grew by 22.1 percent over 2022 and amounted to EUR29.2 million. The growth in fees is concentrated in Structured and Capital Market finance, performance fees, banking services and advisory fees in Private Banking.

The liquidity ratio LCR - the Liquidity Coverage Ratio - determined on the consolidated prudential perimeter, is 448.7 percent.

By Maurizio Carta, Alliance News reporter

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