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Banks: stop dividends hits foundations, -45% 2020 proceeds

2021-09-17T10:39:47.446Z


The stop to the dividends of banks decided last year by the ECB to face the pandemic crisis has strongly affected the banking foundations which have seen revenues decrease by 45% and reduce assets. (HANDLE)


(ANSA) - ROME, SEPTEMBER 17 - The stop to dividends from banks decided last year by the ECB to deal with the crisis has strongly affected the foundations of banking origin which have seen revenues decrease by 45% and reduce assets.

According to the report of the Acri, the association of foundations, in 2020 the total accounting assets fell to 39.7 billion euros, down by about 553 million euros (-1.4%).

Income amounted to 1,421.4 million euros compared to 2,600.7 million in 2019 (-45.3%).


    Despite the sharp drop in revenues, the institutions have increased their disbursements to cope with the emergency due to the Covid crisis. President Francesco Profumo explains that "just when they were most needed, the Foundations proved to be present" with the resources also coming from the successful management of the years preceding the pandemic. In particular, the report reads, "The disbursement activity, understood as resolutions passed, amounted, in 2020, to 949.9 million euros, an increase of 4.3% compared to the 910.6 million in 2019, which corresponds to a disbursement rate of 2.4% on the average assets of all foundations. (ANSA).


Source: ansa

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