Net income record-breaking for Bank Ifis. The banking institution closed the first ones nine months of 2022 with Useful net equal to 105,5 million euros, an increase of 32% compared to the 80,2 million euros of the same period last year. The Board of Directors also approved the distribution of a interim dividend for the 2022 financial year of 52,4 million euros and appointed Ernesto Furstenberg Fassio chairman of Banca Ifis, appointing Sebastien Egon Furstenberg honorary president. “I would like to thank the Bank's Board of Directors for the appointment as Chairman. I am happy to be able to continue the path started – now almost forty years ago – by my father. I will work to innovate our Group in the tradition”, Ernesto Fürstenberg Fassio.
The targets for the reduction of financed emissions by 2030 on the credit portfolio were also communicated, respecting the commitments undertaken by joining the Net Zero Banking Alliance.
At Piazza Affari the title runs and earns 2,99% at 13,42 euros per share.
Geertman: “Profit represents an all-time high”
“The results of the first nine months once again confirm the solidity of the group”, commented the Chief Executive Officer Frederik Geertman, underlining that the profit generated “represents an all-time high for our Bank and is mainly driven by the revenue trend. On this front too, in fact, we're recording the best nine months ever."
“Our CET1 Ratio, equal to 16,18% – added Geertman – places us among the best Italian banks in terms of capital solidity, a solidity that allows us to reward our shareholders with the distribution of an interim dividend and confirm the target net profit for 2022 of 120 million euros, as envisaged in the Business Plan".
Banca Ifis: results for the third quarter of 2022
Operating income grew by 9,6% to 488,7 million euros from 445,9 million euros in the same period of 2021 and benefited from higher revenues in NPL sector, equal to 200,9 million euros (+9% compared to 2021) and in the sector Commercial & Corporate Banking, equal to 225,2 million euros (+5,8% compared to 30 September 2021).
I operating costs rose by 7,9% to 278,5 million euros, due to higher personnel expenses (111,2 million euros) and other administrative expenses (171,5 million euros) due to higher costs related to the recovery of NPL portfolios and to some strategic projects of the Group.
The liquidity position is solid, with approximately €1 billion as at 30 September 2022 of reserves and free assets that can be financed by the ECB (LCR above 1.000%). The CET1 is equal to 16,18% (15,44% as at 31 December 2021) and the TCR is 20,49% (19,63% as at 31 December 2021), calculated including the profits in the first nine months of 2022 net of the interim dividend of 52,4 million euros and of the foreseeable portion of the dividend.
