Banca Finint (more broadly Banca Finanziaria Internazionale) has approved the accounts for 2019, which speak of robust growth compared to the previous year. The institute led by Giovanni Perissinotto recorded a consolidated net profit of 14,7 million euros, a marked increase compared to 2018 (+49%). The consolidated pre-tax profit for the year amounted to 20,8 million euros, recording an increase of 35,2% compared to 2018 (taxes amounted to 6,1 million euros, +10%).
The financial and services margin amounted to 53 million euro, an increase of 8,2% compared to the previous year. The most incisive economic component remains commission revenues, which at the end of the year reached 47 million euros (+8% compared to the previous year); the most significant contribution is given by the activities carried out by Securitization Services in the management of securitization transactions (26,3 million euro against 23,9 million euro in 2018) and by the management of investment funds and through Finint SGR (€11,6 million compared to €10,3 million in 2018).
There was also a significant increase compared to 2018 in the services performed by the FISG companies (structuring in the context of structured finance transactions, from 2 million euro to 3,38 million euro) and by Finint Corporate Advisors (corporate finance, M&A and private equity, from 1,69 million euros to 2,357 million euros). Group intermediation margin amounted to 2019 million euro in 55,3, with an increase of 10% compared to the 50,4 million recorded in 2018. Finally, the net result from financial management and services amounted to 53,5 million euro, with a marked increase compared to the 2018 figure (Euro 49 million) with a percentage difference of 10%.
In addition to having achieved remarkable financial results, Banca Finint has also grown at a structural level. Operating costs are down slightly to 32,5 million, but the main cost item is represented by personnel expenses, increased during the year by 30 units, going from 293 resources at the end of 2018 to 323 resources at the end of 2019. “2019 was also a year of significant growth – commented the CEO Giovanni Perissinotto -. A development path that has never stopped since 2014, when Banca Finint was born, and which confirms the success of our business model, centered on companies and institutional investors, in particular, in order to make innovative financial instruments available to them which allow particularly excellent companies to continue on their path of growth and development by being able to count on diversified sources of financing".
"In the light of the results obtained and the objectives that the Group has set itself - added Perissinotto -, also in 2020 we will continue to direct our action towards operations that affect our core business, where we have developed significant technical and relational skills that allow us to compete with the best international players. An expertise and know-how that allow us to look with confidence also to the near future characterized by a context of general uncertainty caused by the Covid-19 pandemic, an invisible enemy that has shocked the world and which has brought with it serious repercussions from an economic point of view, with a strongly tested entrepreneurial fabric that today more than ever needs to be supported and supported".
A commitment to support businesses that Banca Finint wants to continue and maintain the focus on specialized lending activities, structuring and placement of minibonds and basket bonds of ABS securities and other structured finance instruments, as well as projects for the disposal of NPL portfolios and consultancy to entrepreneurs in extraordinary finance transactions”.
