BNL Q2 net banking income 722 mln eur, up 5% (Il Sole 24 Ore Radiocor) - Paris, 24 Jul - BNP said its Italian unit BNL net banking income rose 5% to 722 million euros with net interest revenue 3.7% higher driven by the margin on deposits partly offset by the decrease in volumes and loan margins.

Customer loans outstanding decreased by 7.1% overall compared to a year ago and by 6.0% on the perimeter excluding non-performing loans reflecting e disciplined management of margins at production in a competitive environment.

Deposits rose by 5.9% with, on the one hand, an increase in Corporate and Private Banking customer deposits, and, on the other hand, an ongoing improvement in margins on deposits across all segments.

Fees rose 7.0% in connection with the strong increase in financial fees, mainly in life insurance, combined with improved cash management fees.

Gross operating income fell by 9.2%, to 235 million. The cost of risk rose 18.4% from a low base a year ago. As a result, after allocating one third of Private Banking's Net Income to Wealth Management (IPS division), BNL achieved pre-tax income of 133 million euros, down sharply by 22.5%.

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(RADIOCOR) 24-07-24 08:37:56 (0195) 5 NNNN