Earthquake, flood, endless economic recession, malicious rumors for years that they would like to built some great lending institution. Yet Sanfelice 1893 Banca Popolare will be presented Saturday, April 26th at Pala Round Table sanfeliciano for the shareholders’ meeting with positive data and good signs of vitality.
We spoke with Franco Cocchi, general manager from 2008, guiding the local bank with the president Pier Luigi Grana. And the d.g. does not hide his satisfaction for both numbers Sanfelice 1893 presents the 2013 budget, both on a personal level because Cocchi will join the Executive Committee of the European Association of Cooperative Banks (EACB) representing the Italian cooperative banks.“The numbers are good for the bank – says Cocchi – not only for the development of products and services and cost containment. The profit from trading was decisive in our revenues: net income rose 12% on 2012. After the earthquake, we dealt with the restoration of our properties and those of the subsidiary Immobiliare Cispadana and with some operations to a new real estate fund contribution we have made good gains that have allowed a fair profit for the consolidated Group. I would especially like to mention the more than 35 million euro of loans granted by the bank in various capacities to those affected by the earthquake: bridge loans waiting for government grants. “
What are the most significant the 2013 budget?‘Net commissions denote an increase of 19.21%. As I mentioned at the margin, which for the accuracy recorded a +11.92% +23.29% after 2012. Net result of financial operations – after net adjustments to loans of EUR 7.2 million, compared 1.7 million in 2012 – a record -14.52%. Operating costs are reduced by a total of 7.77% and the income statement closed with a profit of EUR 480 thousand after tax for more than 440 thousand Euros. The assets under management were stable and no small thing, given the decreases in average performance on the system and due to the contraction of loans and the difficulties of families to create new savings. Direct deposits from customers exceeds 646 million euro (-0.03% in 2012), the indirect funding – more volatile since it is linked to the performance of the market – stood at € 379 million, an increase of 2.62 %. Customer loans were stable at 503 million (-0.77 on 2012). The assets under management exceeded € 1,528 million, peak never reached. We are a small but healthy. “
can again propose a dividend to shareholders.” A dividend of 0.20 euro per share, equal 89, 74% of the individual realized. The consolidated profit is higher (EUR 1.5 million after taxes for 674mila euro) and is due to the contribution of Cispadana Real Estate, a wholly owned subsidiary of the bank: useful that the Board prudently preferred to keep to shareholders. “
The web is increasingly revolutionizing the lives of all the banks are not immune to change.
“The web is already present and future for the distribution of banking products. It is obvious that within a few years will be revised how to set up and organize the branch for advice on loans and securities. ”
He raised a great cloud of dust, the cheese, the affair with the town of Correggio for the recognition of a debt of 10.7 million to your bank with guaranteed comfort letters issued by the City Council .“The bank – says Cocchi – gave an award to a company owned by the town of Correggio and managed by the same, so it is as if he had committed the same municipality. It consists of a spontaneous committee of citizens, who rightly demand clarity to the representatives of the town of Correggio, so much so that the mayor Iotti end of 2013 had to resign, as well as the Director of the City, Pellegrini, with the inevitable commissioner of the City. Then the company already owned by the City has been declared bankrupt. The story is, so to speak, filed in court, the bank believes that strong letters of patronage issued by the City Council and with the approval of the City Council – to guarantee the company’s former City Hall – they are perfectly regular and should be honored. We look forward to the outcome of the civil proceedings, which are available to assess the proposals of the City, when, after the elections next May, it will be reconstituted and the Executive Council. “
Remuneration and loans to directors, often a cause of controversy.“In our case the fees are very low, amounting to 7 percent maximum of the net profit after tax. For 2014 we are talking about 83 thousand Euros to be divided among the 10 directors. And our Board is transparent on credit: resolved that the credit can not exceed half the threshold specified by the Bank of Italy. ”
Stefano Turcato
April 19, 2014
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