Banca Profilo Reports Strong Capital Amid Profit Decline

Banca Profilo SPA (IT:PRO) has released an update.

Banca Profilo reported a net profit of 7.2 million euros for the first nine months of 2024, reflecting a 32.1% decrease year-on-year, influenced by geopolitical tensions and economic challenges. Despite these hurdles, the bank demonstrated capital strength with a CET 1 ratio of 22.9%, and saw a rise in total customer collection to 6.1 billion euros, driven by new direct collection products. The bank’s operating result was affected by increased costs, but the net result of financial activity saw gains due to capital gains from corporate securities.

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