The entity that presides Angel Ron, in the process of absorption of Bank Pastor, obtained between January and September net profit of 404 million euros, representing a decrease of 22.5% over the same period last year.
According to its statement to the National Securities Market Commission (CNMV), in these nine months has allocated 1.383 million euros in provisions, of which 170 million correspond to generic provisions.
The delinquency rate stood at 5.85%, while the coverage ratio rises to 98.60%.
In his note to the regulator, Popular highlights the strong performance of its business. As indicated, has captured “4,500 million euros in just one month deposit with Gasol.” Overall, deposits recorded a growth of 3.4%.
As the lending, the bank noted that “in an environment of strong constraint” loans have increased by 1.4%.
Capital requirements
Popular shows that through September of this year’s core capital has risen to 9.76%. “Since September 2008, this ratio has increased by 298 basis points, from 6.78%” at current levels.
In this regard, he referred to the new solvency requirements of the EU, accounting for the bank an additional requirement of 2,362 million euros. As in its statement yesterday, Popular influences they will not go to public aid because it has new measures to overcome the required threshold without altering its financial strength.
“These measures are: 1,191 million euros of bonds mandatorily convertible effectively recorded in the balance sheet of EUR 508 million of
organic capital generation program extension Popular dividend (scrip dividend) and improvements by reducing risk-weighted assets and evolution of models and other measures of organic generation of capital, “he explains.
People said yesterday in Brussels that the rules does not affect their “future plans”, including the takeover of Bank Pastor, operation that hopes to reach a volume of assets of 161,000 million euros.