Municipality Finance Plc operating profit declines by 2.1% in FY19

 

Municipality Finance Plc (LON: 64EG) has released its Financial Statements Bulletin for the period 1 January to 31 December 2019.

  • The Group’s net operating profit, excluding unrealised fair value changes declined by 2.1 per cent to EUR 186 million, as compared to EUR 190 million in the previous year.
  • However, the Group’s net interest income inched slightly up to EUR 240 million from EUR 236 million in the previous year. Expenses also grew as expected and amounted to EUR 60 million as compared to EUR 49 million.
  • The Group’s CET1 capital ratio was 83.1 per cent as compared to 66.3 per cent. Tier 1 and total capital ratio were reported 107.9 per cent at the end of 2019.