Bank Ifis closes the first quarter of the year with a net profit of 31 million euros which records for the first time the positive contribution from illimity Bank, the bank acquired last year through a public purchase and exchange offer. On patrimonial front, the Cet1 ratio stood at 13,71% as of March 31, 2026, in line with the bank's declared objectives.
Il intermediation margin is equal to 216,4 million euros, mainly supported by the contribution of the turnaround segment and net commissions. Revenues from npl (Non-performing loans, i.e. impaired loans) were temporarily lower, reflecting the timing and characteristics of portfolio purchase operations.
Banca Ifis, the quarterly figures
I operating costs Banca Ifis's total assets in the first quarter stood at 150 million euro, confirming cost discipline despite the expansion of its scope with the entry of illimity Bank. The bank specified that cost synergies will become visible starting in 2027, following the completion of the integration process and the full implementation of efficiency initiatives, including the rationalization of operating structures, information systems, and administrative expenses.
At the same time as the presentation of the quarterly results, Banca Ifis also announced thelaunch of a strategic review project for the NPL sector, a segment in which the Venetian institute is currently the market leader in the field of small tickets unsecured.
Banca Ifis towards the sale of Arec Neprix and Abilio
Banca Ifis also announced that it is in an advanced stage of negotiations for the cession of the non-strategic subsidiaries of illimity Bank: Arec Neprix e abilio, which is expected to close by second quarter of 2026For Banca Ifis, these operations are preparatory to the full integration of illimity Bank, which will lead to the bank's transformation from a specialized player into an operator capable of serving both retail and corporate customers.
The new model that Banca Ifis aspires to foresees a greater focus on commercial banking for SMEs, with a portfolio of products and services for businesses now complete thanks to the contribution of illimity, confirmed as a valuable and strategic asset also with a view to developing private banking through the new Fürstenberg division, which includes Fürstenberg Sim and Fürstenberg Sgr. The bank is also looking to enter new businesses in the retail and private segments, to expand its service model for businesses, entrepreneurs, and families.
Banca Ifis: What Fürstenberg Fassio Said
“In 2025 we successfully completed the acquisition of illimity and Euclidea Sim.” This was stated Ernesto Furstenberg Fassio, President of Banca Ifis, commenting on the first quarter results. "These were transformative operations," he added, "that allowed us to expand the Group's scope, strengthening our offering of credit products and financial services. Today, we can serve businesses even better, but also offer entrepreneurs modern wealth management to enhance their assets, while we will provide families with an efficient, modern and smart payment system platform."
“The Board of Directors,” he continued, “has launched a strategic review of the group. Following the completion of the takeover bid for illimity Bank and the resulting opportunities, I will act as Chairman, leading a new path of growth and value creation, initiated in 1983 by my father, Sebastien Egon Fürstenberg. The objective is to maintain adequate capitalisation levels, continuing to guarantee significant and consistent returns for our shareholders. The project we have launched concerns the NPL sector—which, as is well known, is affected by ongoing regulatory developments—and the opportunity to explore, starting today, the best strategic options for our banking group, which is increasingly focused on specialized lending to Italian companies.
Banca Ifis: what Geertman said
“In the first quarter of 2026, some of our activities – in particular NPLs, equity investments and turnarounds – show natural quarterly variability.” Frederik Geertman, CEO of Banca Ifis, commenting on the first quarter results.
"During this period," he added, "we recorded specific events that will tend to rebalance over the course of the year. 2026 is a year in which we will strengthen our long-term resilience, continuing the integration of illimity and streamlining our operations." These choices may generate volatility in the results of the next quarters, but they are fully consistent with the objective of building a solid commercial bank for SMEs., capable of developing new businesses, and efficient in terms of capital allocation.
We confirm our proactive approach to the regulatory and macroeconomic environment. Specifically, given the increasingly capital-intensive environment due to calendar provisioning, we have initiated a strategic analysis of our NPL business, evaluating various options that allow us to maintain strategic flexibility and risk-adjusted returns. Our capital strength and business diversification allow us to navigate this phase with balance, while prioritizing attractive shareholder returns. We remain focused on execution: integration, selective derisking, capital management, and business development to support the real economy.
