Poste will honor the maxi coupon – Milano Finanza

half year in Profit presented yesterday by the Italian Post , up 29.9% to 565 million, there is an important extraordinary effect. Without the capital gain of 121 million related to the sale of the stake in Visa Europe (as a result of international reorganization decided by the group) profit would have grown much less, ie 4%. But the CEO Francesco Caio yesterday wished to reaffirm that the group is ready to fulfill the promise to distribute to shareholders at least 80% of the net profit (made at the market last October on the occasion of the listing on the Milan Stock) also if a part of the result were to be non-recurring.

Moreover Poste Italian continues to record growing numbers, is looking at the banking activities of BancoPosta is observing the insurance (Poste Vita ). And even the traditional postal services, weak link in the chain, begin to show the positive effects of the party raise with the definition of the new delivery model. Total revenues of the group in the first half were up notably by 10.9% to 17.68 billion. Inventories of BancoPosta current accounts rose by 6.5%, to 48.1 billion, and loans to households rose by 49%, while American Express Evolution (the prepaid card which provides an Iban) continued to grow at a rate of nearly 1 million new cards issued during the period.

The Life insurance sector has also collected 10.5 billion and new insurance products were launched Damage, although still residual, promise to be in the market space with a growth rate of 59%. While in terms of postal services, which recorded revenues decreased 2.5%, the fall is slowing, and the parcels business has returned to growth, with an increase of 13.9% volumes. “On these solid foundations also continue implementing plans in the second half of 2016″, stated yesterday by the Italian Post , reiterating that it confirmed the dividend policy and specifying that any recapitalization of BancoPosta, which should be required to support its growth, will not affect the coupon. But they added that, “as in previous years, the fourth quarter will see provisions for the costs of processing”.

We refer in particular to the voluntary early retirement programs which have already signed up 3,900 people, of which 2,500 for release in the second half of 2016.

the group meanwhile warms the engines for the second tranche of privatization by the Treasury, for the sale of another 30% of the Italian Post . The event is scheduled for autumn, as confirmed yesterday by the company, while in the next few days will clear the size of the investment of Poste Vita in Atlas 2. “The closing is scheduled for August 8 and will evaluate the investment in basic also with the investment criteria, but the contribution of Poste Vita will probably for a smaller amount than that for Atlante, where the company has invested 260 million, “said Caius. (Reserved)