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MNI BRIEF: ​BOI Sees 2022 Profit, But Possible Losses '23-'24

(MNI) ROME
(MNI) Rome

The Bank of Italy made EUR 2.1 Billion of net profit in 2022, a reduction of EUR3.9 billion compared to 2021, but the expectations for losses in 2023 and 2024 are growing as interest rates rise, Governor Ignazio Visco said during the central bank's annual presentation Friday.

In gross numbers, the BOI profit fell to EUR5.9 billion from EUR5.9 billion. Provisions general risks was increased by EUR 2,5 billion, a big quantity in order to offset the future losses, reaching a total of 35,2 billion.

Although still to be approved, the Governor said a dividend of EUR 40-380 million will be paid, with EUR1.67 billion passed to the Italian state. An additional total E1.3 billion was paid in taxes.

MNI Rome Bureau | +34-672-478-840 | santi.pinol.ext@marketnews.com
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MNI Rome Bureau | +34-672-478-840 | santi.pinol.ext@marketnews.com
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