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BRIEF-Banco BPM tops forecast with 117 mln euro Q1 net profit
May 11, 2017 / 4:32 PM / 2 months ago

BRIEF-Banco BPM tops forecast with 117 mln euro Q1 net profit

1 Min Read

May 11 (Reuters) - Italian lender Banco BPM:

* Q1 net profit 117 million euros, compared with average forecast of 55 million euros in analyst consensus compiled by the lender

* Loan writedowns 291 million euros in Q1

* Problem loan stock down 2.2 billion euros from year earlier to 15.03 bln euros

* Pro-forma phased-in CET1 ratio 11.7 percent at end-March vs 12.3 percent at end-2016

* Q1 revenue 1.2 billion euros, up 2.8 percent on a pro-forma basis from Q1 2016

* Q1 fees up 17 percent year-on-year to 547 million euros

* Has booked additional writedowns for 8.4 million in Q1, mainly linked to stake in banking fund Atlante Further company coverage: (Reporting by Milan newsroom)

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