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BRIEF-Credem 2016 net profit down 21 pct on rescue fund contributions
February 8, 2017 / 5:50 PM / 8 months ago

BRIEF-Credem 2016 net profit down 21 pct on rescue fund contributions

Feb 8 (Reuters) - Credito Emiliano says:

* Phased-in CET1 ratio at end-2016 at 13.15 percent, fully phased at 11.9 pct

* 2016 net profit 132 mln euros, down from 166 mln euros in 2015 hit by contributions to banking rescue funds

* Net interest income up 4 pct y-o-y, services income down 5.5 pct y-o-y

* Loan writedowns fell 35.2 percent y-o-y to 74 mln euros

* Paid 37 mln euro gross contribution to national resolution fund and deposit guarantee fund

* Invested 40 mln euros in information technologies

* Direct funding from clients up 10 pct year-on-year

* Client loans up 4.6 pct year-on-year Further company coverage: (Reporting by Milan Newsroom)

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