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Banco Popolare posts EUR178m profit for Jan-Sep '09, down 63% Y/Y

Posted on: Mon, 16 Nov 2009 05:15:00 EST

Symbols: BCIEF

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Nov 16, 2009 (M2 EQUITYBITES via COMTEX) --
BCIEF | Quote | Chart | News | PowerRating -- 16 November 2009 - Italian lender Banco Popolare (BIT:BP) said on
Friday its nine-month net profit met expectations at EUR178m
(USD266.5m), though shedding 63% on the year.

The recurring net profit inched up 3% to EUR382m after the
consolidation of Banca Italease (BIT:BIL), and up 9% to EUR403m before
the consolidation.

Interest income dropped by 13.1% to EUR1.479bn, without considering the
EUR46.6m interest revenue of Banca Italease.

Net commissions fell by 8.6% to EUR751.5m.

Gross loans added 4.3% to EUR105.1bn as direct deposits ticked up by
0.6% to EUR104.6bn.

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