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An
8% Roe in the 2000.
This
is the target of the bank the president Giovanni Benevento
has announced to the shareholders and markets during the meeting of
Wednesday 19th he presided, sided by the managing director, Giampiero
Fiorani.
Furthermore
Benevento lingered over in underlining that "the profitability
of a bank comes from its efficiency and its ability to go on markets
supplying new products ".
Very
well: holy words to be shared! But if the profitability index is the
ROE and if the Lodi planes to reach an 8% ROE only in the year 2000,
it must be concluded that the efficiency of the Bank is currently
absolutely failing.
Benevento
wanted to communicate the partners that the competent offices have
esteemed the return of the financial investment of the liquidity (coming
from the increase of capital object of the resolution) and pointed
out the advantages for the profits and losses account.
Apart
from the fact that the increase of capital is not aimed to financial
investments, but to purchases - whose profitability is still to supply
with documentary evidences still to get - it is not clear why savers
must equip the Bank with capital for investments that any partner
can realize by the means of any investment fund.
One
wonders which is, this purpose, the opinion of a high level personage
as Dr. Luigi Amato Molinari, who is in the board of directors
of the Lodi but also in those of the Banca Intesa and Alleanza
Assicurazioni.
The
increase of capital will be realized partly by the issue of convertible
bonds - ensuring a return and that are anyway for the bank a kind
of indebtedness - and partly issuing shares of which only 50 billions
are reserved to the partners and the remaining to the "institutional
investors ". The Popolare of Lodi is among the "people's
bank " maybe the one the most "affected" by "virus"
of growth. Aggregations with "sister companies", vertical
and horizontal lines, are being studied. On Friday the new about the
Lodi's launch of a friendly TOB of the 51 up to 60% of the Popolare
of Forlì.
Reaching
a conjectured as well as undetermined size level is the primary target
of the Bank: the size strategy evidently does not leave time enough
to devote to the daily bettering. In a running year as that of 1998,
when the bank system has benefit from a particularly favourable trend,
the Lodi has recorded in the "income from ordinary activities
" a increase respect 1997 of the 3,08% hence contained at the
utmost and less at all than the average.
The
bettering of 21,16% of the net income comes only from the contribution
of the "Extraordinary Components".
Nevertheless
it is right to notice the utmost credit situation toward partners
who like the bank and its managing as they are: when love is blind
it does not make any mistake.
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Mensile di scienza medica e
attualita`