Banca IFIS closed the 2017 financial year with a net profit (including the contribution of the former Interbanca Group for the 12-month period) of 180,8 million euro compared to 697,7 million as at 31 December 2016.
The 2016 profit, however, explains the company in a note, "was significantly influenced by the 633,4 million euros" linked to the effects of the "gain on bargain purchase" deriving from the acquisition of the former Interbanca Group. In the same reference period, earnings per share amounted to 3,38 euro.
A significant data concerns the dividend. The board of directors has decided to propose a coupon of 1 euro per share, a figure which represents an increase of 22% compared to the previous year.
Going back to the accounts, in 2017, the intermediation margin grew by 59,4% compared to 2016, reaching 519,6 million euros from the previous 326. In particular, the margin towards the corporate target, including the Credits sectors, improved commercial, Corporate Banking, Leasing and Tax credits, which reported a growth of 117,1% reaching 355,2 million (from 163,6 million in 2016). CET1 settles at 15,64%.
Moving on to the "NPL area", the IFIS group achieved an intermediation margin of 164,5 million euros compared to 148,3 million in 2016 (+10,9%). Consolidated shareholders' equity at the end of the year amounted to €1.368,7 million compared to €1.228,6 million as at 31 December 2016 (+11,4%).
"From a management point of view - commented the number one of Banca IFIS, Giovanni Bossi - 2017 was a year of significant attention to internal integration processes and the search for efficiency, both in the individual business units and in the simplification corporate event”.
"Strong impact on all Group operations, over the 12 months, resulted from the change of core banking system, the adoption of a new CRM system at Group level and the launch of new web platforms, using the digital innovation for the benefit of the customer relationship. To make all of this possible, it was necessary to invest heavily in human resources, both in training and in the search for new skills that have joined the Group's project.
“During the year – continued the managing director – a lot of work was done to diversify the sources of supply and rationalize the cost of funding with consequent benefits in terms of flexibility, access and strengthening of the liquidity and solidity indices. The assignment of the issuer rating by the Fitch agency also went in this direction”.
As regards 2018, the objectives "were designed in continuity with what was already done in 2017: synergies, simplification, enhancement and innovation will continue at a relentless pace" concluded Bossi.
