The Consiglio Generale of the Compagnia di San Paolo unanimously approves the Financial Statement for the year 2011
Torino - 24.04.2012
The Consiglio Generale of the Compagnia di San Paolo has unanimously approved the Financial Statement for the year 2011 and its accompanying Management Report. The operating surplus was of 171.2 million euros. Overall net income for the year totalled 195.2 million euros.
In the course of the meeting, the last of the 2008-2011 mandate, the Consiglio Generale expressed its satisfaction with the results obtained which, thanks to the commitment of the governing bodies and the professionalism of the offices, has brought the grant-making capacity available in 2012 to 125 million euros, up slightly compared with the two previous years (122.8 in 2010, 121.4 in 2009), notwithstanding the macroeconomic backdrop of significant economic and financial crisis. The prudent nature of financial management, the criteria of efficiency and transparency adopted in the selection of intervention projects and a careful policy of containment of management costs implemented by the governing bodies and the staff, make it possible to hand over to the new executive a positive financial, asset and economic situation, all the more satisfying given the prevailing negative economic and social climate.