Pop Milano says Q1 net profit fell to 57.3 mln euros
MILAN May 14 (Reuters) - Banca Popolare di Milano said on Tuesday its first-quarter net profit fell 10.6 percent to 57.3 million euros ($74.4 million) as net interest income declined amid an economic downturn.
The Milan-based cooperative bank said its Core Tier 1 ratio, a measure of capital adequacy, was 8.37 percent at the end of March, stable compared to end 2012.
While net interest income fell 15.8 percent to 190.8 million euros in the period, net commissions rose 10.6 percent to 131.7 million euros.
Net write dows on credits and other operations rose to 64.1 million euros from 51.6 million euros a year ago, it said. ($1 = 0.7703 euros) (Reporting By Danilo Masoni)
- Israel warns of long Gaza war as Palestinian fighters cross border |
- West agrees wider Russia sanctions as Kiev says forces near crash site
- Court orders Russia to pay $50 billion for seizing Yukos assets |
- Man found dead trapped between elevator and shaft wall in NYC
- Wall Street yawns as deal news offsets data; Herbalife sinks