Banca Cesare Ponti
During the year, the Financial Intermediation Activities (FIA) on behalf of customers of Banca Cesare Ponti SpA increased by 8.1% to € 1,178.4 million. Within FIA, direct deposits represented 29.5% (27.4% in 2007) and indirect deposits 70.5% (72.6% in 2007). As regards the latter, the impact of assets under administration increased (from 65.1% to 73.7%).
Direct deposits amounted to € 347.6 million, up by 16.3%, while indirect deposits amounted to € 830.9 million, up by 5%. A breakdown of indirect deposits shows a decrease in assets under management (€ 218.2 million; -21.1%), while assets under administration increased (€ 612.7 million; +19%).
Loans to customers amounted to € 250.3 million, up by 5.6% over the year. The mediumlong term component (€ 187.8 million) increased by 13.3%, representing 75% of the total amount, while the short-term component (€ 53.8 million) fell by 10.1%, representing 21.5% of the total.
The securities portfolio amounted to € 98 million, an increase compared with € 43.5 million in 2007. Shares of mutual funds fell by 93.3%, amounting to € 954 thousand, equities fell by 36.9% to € 1.5 million, while debt securities increased from € 26.9 million in 2007 to € 95.6 million in 2008.
The income statement recorded a net profit of € 1.7 million, down compared with € 2.4 million registered in 2007. The cost/income ratioi increased from 67% to 77.6% during the year. The interest margin, equal to € 8.3 million, is 23% higher than the figure recorded in 2007.
Net commissions amounted to € 5.5 million (11.4% over the year).
Dividends amounted to € 87 thousand, lower than the 2007 figure (€ 0.5 million).
Net income from trading activities was a negative € 120 thousand (€ 0.8 million in 2007).
Gross operating income amounted to € 13.7 million, showing a 14.6% decrease compared to 2007.
Net impairmenti adjustments on loans and other financial entries provide a negative contribution to the income statement of € 383 thousand (€ 1.5 million in 2007).
Operating costs totalled € 10.6 million, 1.1% lower when compared to 2007, and in particular: staff costs rose to € 5.9 million (+2.2%); other administrative expenses fell to € 4.8 million (-3.2%).
The profit from ordinary activities before taxes amounted to € 2.7 million. Net of income taxes amounting to € 1 million, the profit for the year totalled € 1.7 million.
BANCA CESARE PONTI
| (figures in thousands of €) | Situation as at | Change % | ||||||
|---|---|---|---|---|---|---|---|---|
| BALANCE SHEET | 31/12/08 | 30/9/08 | 31/12/07 | 31/12/06 |
12/08 9/08 |
12/08 12/07 |
||
| Total assets | 394,112 | 401,357 | 360,161 | 310,453 | -1.8 | 9.4 | ||
| Direct deposits (A) | 347,579 | 305,060 | 298,859 | 258,898 | 13.9 | 16.3 | ||
| Indirect deposits (B) | 830,857 | 810,568 | 791,552 | 769,621 | 2.5 | 5.0 | ||
| - Assets under management | 218,157 | 245,293 | 276,548 | 240,115 | -11.1 | -21.1 | ||
| - Assets in custody | 612,700 | 565,275 | 515,004 | 529,506 | 8.4 | 19.0 | ||
| Financial Intermediation Activities (FIA) (A+B) | 1,178,436 | 1,115,628 | 1,090,411 | 1,028,519 | 5.6 | 8.1 | ||
| Loans to customers (1) | 250,318 | 249,277 | 237,015 | 187,258 | 0.4 | 5.6 | ||
| Securities portfolio | 98,030 | 97,524 | 43,487 | 70,990 | 0.5 | … | ||
| Capital and reserves | 28,093 | 28,245 | 29,108 | 29,350 | -0.5 | -3.5 | ||
| INCOME STATEMENT | ||||||||
| Gross operating income | 13,721 | 10,018 | 16,066 | 13,198 | -14.6 | |||
| Net income from financial management | 13,338 | 9,625 | 14,533 | 13,863 | -8.2 | |||
| Operating profit from ordinary activities before taxes | 2,688 | 1,597 | 3,814 | 1,968 | -29.5 | |||
| Profit for the period | 1,697 | 1,025 | 2,356 | 905 | -28.0 | |||
| RESOURCES | ||||||||
| Number of branches | 4 | 4 | 4 | 4 | - | - | ||
| Staff | 96 | 97 | 95 | 98 | -1.0 | 1.1 | ||
(1) Before value adjustments.