Banca Carige sees net profits in 2010 rising to around 350 mln eur |
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Published
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Sun, 14 Oct 2007 20:53
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MILAN (Thomson Financial) - Banca Carige SpA said it sees net profits in 2010 reaching around 350 mln eur compared to the 138 mln eur it posted in 2006.Presenting preliminary forecasts to analysts for the period 2008-2010, Carige said it expects total funding from deposits and loans to be over 80 bln eur in 2010.The 2010 cost-income ratio is expected to be around 50 pct from last year's 56.6 pct.Return on equity in 2010 will be about 10 pct compared to the 5.4 pct in 2006 and the 6.15 pct at the end of 2005, Carige said.Carige, which recently agreed to buy 78 bank branches from Intesa Sanpaolo SpA, said it will have around 2 mln clients in 2010 and about 660 bank branches, including the 65 new branches it intends to open in the three-year period.The group will also have around 400 insurance agencies.stephen.jewkes@thomson.comsj/tcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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