Ad hoc-Service: Bipop-Carire S.A.
Ad hoc-Mitteilung verarbeitet und übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist der Emittent verantwortlich.
Bipop-Carire S.A.
Bipop-Carire s board of directors, which met today, have examined the preliminary data pertaining to the final draft of the group s financial statements at 31.12.2000 which are to be examined by the statutory board of auditors and by the auditing company KPMG SPA. Net profit equals to 336.2 million euro, with an increase of 30.26%, despite the level of tax rate (39.84%).
Total commissions and fees amounted to 852.6 million euro , which represented 68% of the total income with an increase of 70.91%. Commissions coming from asset management, life insurance policies and brokerage activities represented respectively 72%, 8% and 18%. Operating costs increased by 53.9% reaching 559.8 million euro, of which about 65.5 million euro are marketing expenses (+135%) and 56.8 million euro are IT costs. Staff costs (229.3 million euro) included a significant component of incentives related to the hitting of the sales targets.
Consolidated shareholders equity reached 1,617 million euro. Conversion of Bipop bonds brought the number of total shares, as of 31/12/00, to a total amount of di 1,730,201,230 shares, including the capital increase of 72,800,000 shares related to the first closing of Entrium s acquisition.
Lending activity grew by 26.9% reaching 11,240.1 million euro. The securitization transaction, through which the group sold approximately 775 million euro of performing loans deriving from the new business production (mortgages and loans secured by 1/5th of the borrower s salary), will enable the Group to further diversify the funding policies, finalized to an ever increasing acquisition of new retail customers and will be proposed every year, becoming thus, one of the company s ordinary transactions. The sale of the performing loans will be followed by the issuance of asset backed securities.
Revenues and funding attained through all the Group s alternative distribution channels are particularly significant. In particular, these channels contributed for 63.4% to the new business production generated in asset management and life insurance. The Group s financial planners networks contributed for roughly 50% to the Group s new business production. Azimut and Bipop City turned out to be the fast growing networks in terms of assets in the Italian industry. The Group s distribution network continued to grow significantly according to the business model, developing efficient and specialised structures in financial and long term investment advisory.
Point of sales at the end of year were more than 517, compared to the 356 at year end 1999, 286 of which were branches, 196 Bipop City financial shops and 35 Fineco New.
The Exchange Offer to the outstanding shareholders of Entrium, started on the 27th December 2000 and closed on the 26th January 2001, met impressive acceptance: 10,993,145 Entrium shares have been tendered, equal to 97.24% of the outstanding Entrium s share. Following the second closing, Bipop-Carire will control 99.14% of the share capital of the Entrium Direct Bankers AG. Due to the strong acceptance level of the tender offer the listing of Entrium on the Neuer Markt will terminate, however the shares will continue to be listed on the Regulated Market of Frankfurt for an interim period, pending final delisting, Bipop - Carire S.p.A., advised by Dresdner Kleinwort Wasserstein, is currently the second largest company listed on the Neuer Markt by market capitalisation and its acquisition of Entrium is the largest cross-border all share deal by an Italian bank in Germany. The text of this press release is available at the Group s new web site at www.bipopgroup.com Ende der Mitteilung
Ad hoc-Mitteilung verarbeitet und übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist der Emittent verantwortlich.
Bipop-Carire S.A.
Bipop-Carire s board of directors, which met today, have examined the preliminary data pertaining to the final draft of the group s financial statements at 31.12.2000 which are to be examined by the statutory board of auditors and by the auditing company KPMG SPA. Net profit equals to 336.2 million euro, with an increase of 30.26%, despite the level of tax rate (39.84%).
Total commissions and fees amounted to 852.6 million euro , which represented 68% of the total income with an increase of 70.91%. Commissions coming from asset management, life insurance policies and brokerage activities represented respectively 72%, 8% and 18%. Operating costs increased by 53.9% reaching 559.8 million euro, of which about 65.5 million euro are marketing expenses (+135%) and 56.8 million euro are IT costs. Staff costs (229.3 million euro) included a significant component of incentives related to the hitting of the sales targets.
Consolidated shareholders equity reached 1,617 million euro. Conversion of Bipop bonds brought the number of total shares, as of 31/12/00, to a total amount of di 1,730,201,230 shares, including the capital increase of 72,800,000 shares related to the first closing of Entrium s acquisition.
Lending activity grew by 26.9% reaching 11,240.1 million euro. The securitization transaction, through which the group sold approximately 775 million euro of performing loans deriving from the new business production (mortgages and loans secured by 1/5th of the borrower s salary), will enable the Group to further diversify the funding policies, finalized to an ever increasing acquisition of new retail customers and will be proposed every year, becoming thus, one of the company s ordinary transactions. The sale of the performing loans will be followed by the issuance of asset backed securities.
Revenues and funding attained through all the Group s alternative distribution channels are particularly significant. In particular, these channels contributed for 63.4% to the new business production generated in asset management and life insurance. The Group s financial planners networks contributed for roughly 50% to the Group s new business production. Azimut and Bipop City turned out to be the fast growing networks in terms of assets in the Italian industry. The Group s distribution network continued to grow significantly according to the business model, developing efficient and specialised structures in financial and long term investment advisory.
Point of sales at the end of year were more than 517, compared to the 356 at year end 1999, 286 of which were branches, 196 Bipop City financial shops and 35 Fineco New.
The Exchange Offer to the outstanding shareholders of Entrium, started on the 27th December 2000 and closed on the 26th January 2001, met impressive acceptance: 10,993,145 Entrium shares have been tendered, equal to 97.24% of the outstanding Entrium s share. Following the second closing, Bipop-Carire will control 99.14% of the share capital of the Entrium Direct Bankers AG. Due to the strong acceptance level of the tender offer the listing of Entrium on the Neuer Markt will terminate, however the shares will continue to be listed on the Regulated Market of Frankfurt for an interim period, pending final delisting, Bipop - Carire S.p.A., advised by Dresdner Kleinwort Wasserstein, is currently the second largest company listed on the Neuer Markt by market capitalisation and its acquisition of Entrium is the largest cross-border all share deal by an Italian bank in Germany. The text of this press release is available at the Group s new web site at www.bipopgroup.com Ende der Mitteilung
