| RESULTS SUPPORTED BY SUSTAINED CLIENT ACTIVITY AND STRONG MARKET CONTRIBUTION IN A STILL DETERIORATING ECONOMIC ENVIRONMENT -Capital ratios further boosted by subordinated bonds buyback, above the 2012 target of CET1 at 9% with Basel 3 fully loaded -Sustained market activity and successful management of the asset-liability spread in Italy supported operating profit - Liquidity position improved with 2% quarter-on-quarter deposit growth across the group - Strategic plan on track and Italian turnaround continues 1Q 2012 KEY FIGURES - Group Net Profit: €914 million (+12.8% Y/Y), of which €477 million from buyback of Tier I and Upper Tier II bonds - Revenues: €7.1 billion (+2.5% Y/Y,+16.6% Q/Q),of which €697 million from buyback of Tier I and Upper Tier II bonds - Operating Costs: €3.8 billion (-0.5% Y/Y,+1.0% Q/Q) - LoanLossProvisions: €1.4 billion (-7.0% Y/Y,-6.3% Q/Q) (Press Release 1Q12 Group Results - see attachment). | |
