The Board of Directors of BCC Milano approved the Financial statements for the first half of 2021 which closes positively with a Net profit of 12.95 million euros up by 34% compared to the first half of 2020. The Bank’s capital endowment in terms of Own funds reaches altitude 306 million euros, helping to maintain capital solidity ratios well above the requirements set by current regulations.
«The data from the half-year report fully satisfies us as they confirm the Bank’s excellent state of health – he comments Giorgio Beretta, General Manager of BCC Milano – The performance in terms of net profit is the consequence of a progressive and consolidated growth in volumes, combined with a continuous decrease in impaired loans, the result of a careful strategy in the evaluation, granting and management of loans. In the second half of the year we expect to confirm the growth seen in the last three years: it will still be a positive exercise that will provide us with important resources to be allocated to the local economy».
The Balance Sheet highlights one Total collection of 4.9 billion with a increase of 13.13% compared to June 2020. The Direct Collection stands at 2.89 billion of Euro (+15,37%) and the Indirect funding reaches i 2.1 billion of Euro (+10,08%), while the Net loans exceed quota 2 billion euros, by registering a growth of 12.37%.
Margins are also positive: +23% for the Interest margin (35.41 million euros), +14,8% for the Brokerage margin (53.65 million euros). the Net Commissions register a growth of 12% attesting to 15.14 million euros.
«For the past 18 months, the economy has had to foot the bill for the pandemic – he claims Giuseppe Maino, President of BCC Milano and of the Iccrea Cooperative Banking Group – and the contribution of the Banks was fundamental in supporting the needs of the country. BCC Milano is very careful to welcome and propose to shareholders and customers the tools and measures that the government promotes to combat the crisis. We are aware that, in such a delicate juncture in history, a local bank must provide its full support to all the entities that need it: be they families, businesses or social entities. The resources produced by our core business are intended for the growth of local communities and the people who make them up».