Banco Popolare Second-Quarter Profit Rises 6.6% on Tax Benefit
This article is for subscribers only.
Banco Popolare SC, Italy’s fourth-biggest bank by assets, said second-quarter profit rose 6.6 percent after a tax benefit offset lower operating income.
Net income increased to 138.1 million euros ($173 million) from 129.5 million euros a year earlier, beating the 81.3 million-euro average estimate of six analysts surveyed by Bloomberg. Results benefitted from a 67 million-euro gain from tax relief, the Verona, Italy-based bank said a statement today.