Italy's BPER posts 43.2% rise in first quarter net profit
MILAN, May 8 (Reuters) - Italy's BPER Banca (EMII.MI), opens new tab posted a 43.2% rise in first-quarter net profit on Thursday, driven by fee and trading income that more than countered a decline in net interest margin.
Net profit for the January-March period was 442.9 million euros ($500.74 million).
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Italy's fourth-largest bank, which launched a 4.3 billion euro all-share bid for smaller rival Banca Popolare di Sondrio (BPSI.MI), opens new tab in February, saw revenues rise 5% in the first quarter.
Net fees rose 8.5%, while a narrowing spread between lending and deposit rates pushed net interest margin down 3.8%.
($1 = 0.8845 euros)
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