Banca Ifis closed the first nine months of 2014 with a net profit growing by 10,5% over the year, to 74,2 million euro, and sees the positive trend in profitability continue also in the last months of the year. “Expectations for the end of 2014 remain solidly positive for the group”, reads a note. “It is reasonable to expect a positive trend in profitability for the group in the near future”.
Returning to the results, in the first nine months the intermediation margin rose by 8,6% to 210,8 million, thanks above all to the contribution deriving from the trade credit sector. Net value adjustments due to impairment of loans decreased by 14,1% to 29,7 million. The Core Tier 1 according to Basel 3 stands at 14,6%, while the Solvency (solvency ratio) at 14,9%.
At the beginning of the afternoon the title Bank Ifis travels in positive territory a 13,73 euros, gaining 1,25%.
