What is the state of health of Italian banks? Hard to say if we don’t have the tools to analyze them. Thus, if many banks have hesitated in giving their customers the numbers, on the contrary MPS has distinguished itself for its ability to inform in a linear manner. And, basically, for the Sienese-born bank, there is still a margin of growth and hope. This also considering how the Covid period has affected both the flow of operations as well as the extreme volatility of the securities.
Mps, the results as of June 30
So, waiting for the next quarter or semester of Mps, we have to analyze what the Sienese group has made available through its official channels.
Approved by the board of directors, as of 30 June 2020 the operating result, gross, amounted to 186 million euros, up by a good 2.9% compared to the first quarter January-March 2020. The stability of revenues was obtained thanks to the contribution and the work of financial management, with operating costs in decline despite what happened, precisely in terms of finance and expenses, during the lockdown of two months abundant due to the covid.
The recovery and the ascent
The data analyzed by Mps also reflect a cross-section of the company, thus also analyzing how the economic sector linked around the bank moves.
There has therefore been a good resumption of commercial activity starting from the month of June. From here, all the shops were allowed to reopen the shop, with the restoration and full operation of all the branches located on the Italian territory.
The various products of Wealth Management which yielded 5.4 billion euros, and new mortgages were signed for 4.7 billion euros, a symbol and signal also of a restart of young couples who have entrusted their destiny to the direct purchase of a property
Critical issues
The negative net result for the quarter was € 845 million, which includes the write-down of DTAs for € 476 million, negative components for € 384 million, as well as adjustments on additional receivables for the amount of € 107 million.
What to expect in the near future
Basically the work of Mps continues to search for a rise, always counting on the contribution of those who want to operate on a public and private level. The MPS branches are however also providing their support to small and medium-sized merchants, who can thus plan their future after months that are not too flattering in terms of earnings, far from it.
There is therefore confidence, but also the awareness that it is only through hard collective work that the foundations can be set for an ascent.
–
