Pop Milano posted 9-month profit of 134.4 mln euros

MILAN Tue Nov 12, 2013 11:09am EST

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MILAN Nov 12 (Reuters) - Italy's Banca Popolare di Milano posted a nine-month net profit of 134.4 million euros ($180 million) compared with a net loss of 105.9 million euros in the same period last year.

The improvement came from higher fees and trading gains as well as from measures to keep costs in check.

The cooperative lender, which has put off the deadline to launch a planned capital hike to next July, said its Core Tier 1 ratio - a key measure of financial strength - stood at 7.25 percent at the end of September, down from 7.45 percent in June.

Loan loss provisions in the first nine months of this year rose to 260.7 million euros from 209.1 million euros in the same period last year as problematic loans jumped 19 percent year on year to nearly 5 billion euros. ($1 = 0.7459 euros) (Reporting by Francesca Landini)

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