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BRIEF-Popolare Sondrio 2016 net income down 24 pct
February 9, 2017 / 4:34 PM / 10 months ago

BRIEF-Popolare Sondrio 2016 net income down 24 pct

Feb 9 (Reuters) - Banca Popolare Di Sondrio says:

* 2016 net income 98.6 million euros down from 129.3 mln euros in 2015 hit

* Net interest income down 12.7 pct y-o-y, fees down 3.4 percent

* Wrote down client loans by 250 million euros, 36 pct less than a year before. Cost of credit down to 0.99 pct from 1.63 pct

* Problem loan coverage ratio 46.2 pct up from 44.5 pct. Bad loan coverage ratio 63.4 pct from 61.9 pct

* Phased-in CET1 ratio 11.09 percent at end-2106

* 2016 net writedowns 278.5 million euros, down 32 percent

* Paid 26.4 million euro extraordinary contribution to resolution fund on top of 11.2 million euro ordinary contribution and 7.4 million euros to deposit guarantee fund

* Wrote down stake in rescue fund Atlante by 13.95 million euros to which it had committed to contribute 50 million euros Source text for Eikon: Further company coverage: (Reporting by Milan Newsroom)

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