The shareholders' meeting of the Passador Bank approved the 2024 financial statement, "the best in history", underlines the institute, closed with numbers in strong growth. Green light also to a dividend of €1,50 per share, up (+20%) compared to the previous year.
Banca Passadore Numbers
Banca Passadore closed 2024 with a Net profit up 11,9% to 90,1 million. The profitability index (RoE) was equal to 25,9%, while the direct collection stood at 5,109 billion euros (+12%), operating loans at 2,318 billion (+0,7%) and securities deposits at 7,271 billion (+14,5%). The total assets administered thus rose to 12 billion and 380 million.
The distribution of profits includes significant allocations to reserves and a dividend of 1,50 euros per share, up (+20%) compared to the previous year.
The EFSA and ECDC's One Health report non-performing loans net of total loans falls to 0,89%, with a coverage ratio of almost 65%. The “Cet 1 ratio” capital ratio rises by approximately 300 basis points to 19,5%.
New branch in Bologna
As foreseen in the new Strategic Plan 2025-2027, the bank has favourably assessed the existing opportunities in the Bologna area and a new branch will be operational by the summer in the Emilian capital.
On June 13th, after a 3-year renovation, the inauguration of the renovated headquarters building will also take place. GenoVa.
Deposits and loans increase in the first quarter
In the meantime Banca Passadore has released the figures for the first quarter, which closed with Deposits up 11,4% and operating loans up 3,7%. Securities on deposit rose 8,7%.
From January to March, Net profit increased by 4% to 22,6 million, resulting in a RoE above 20%. The Cet1 index rose above 20,5% and the NPL ratio remained at 0,9%.