MILAN Feb 19 Mediobanca lifted its
provisions for bad debts by 30 percent in the last six months of
2013, as it prepares to incorporate the full impact of a euro
zone-wide asset health check by the European Central Bank.
Mediobanca, the first Italian bank to issue quarterly
results, said its second-quarter net profit had jumped to 133.5
million euros ($183.6 million) from 14.8 million euros a year
Earnings in the second quarter, which in Mediobanca's case
ends in December, were helped by capital gains from the sale of
equity stakes and lower taxes.
Yet, net interest income was down on a quarterly basis,
reflecting the sluggish economic environment in its core Italian
market and high cost of funding.
($1 = 0.7272 euros)
(Reporting by Lisa Jucca, editing by Silvia Aloisi)