The IW Bank Group closed 2008 with a net result of € 11.5 million, due to the consolidation of IW Bank, which made a profit of € 11.1 million, and InvestNet, with a profit of € 1.0 million; the consolidated net profit was negatively affected by 0.6 million euro of amortisation of intangible assets booked as part of the purchase price allocation that followed the acquisition, net the tax effect 
