For the Cassa Central Banca 2022 closed with financial results that exceeded budget estimates.
THENet income consolidated amounted to 562 million Euros (+70%). The interest margin positively affected by the rise in interest rates, reaching 2022 billion euro at the end of 1,8 (+33%).
The reduction of Npl Group gross ratio from 5,5% in 2021 to 4,8%, with average coverage on non-performing loans at 81,8% (73,6% at the end of 2021) and a net NPL ratio down to 0,9% (from 1.5% in the previous period). Despite the global uncertainty the net commissions amounted to 755 million Euros (+5,3%), a value higher than the budget targets. The CET1 ratio is at 22,8%, placing the Group at the top of the national banking system.
The data will be approved by the Board of Directors scheduled for the end of March.
Positive collection data
The trend in collection data remains positive. There indirect component in fact, it recorded a growth of 2,2% compared to the previous year, settling at 36 billion. It remains on solid levels there direct collection which exceeds 67 billion Euros (+3,2% on 2021).
The growth was recorded both on the securities portfolio, with a contribution of 845 million Euros (led by inflation-linked securities), both on customer credits. The interest margin on the latter rose by 16,9% compared to 2021, reaching 1,1 billion euros. The result was achieved thanks to the constant growth dynamics of the portfolio, which it reached at the end of 2022 €50,6 billion in gross customer loans, with an increase of 1,8 billion (+3,6%) on an annual basis.
Fracalossi: our model works
“The results for the 2022 financial year confirm that the our model works. We have created a solid and profitable national Cooperative Banking Group, without losing sight of the founding values and principles of mutual cooperation. We have maintained, and will continue to safeguard, the local vocation of our banks, which is based on attention to the people and communities of reference. It is a success to be able to reiterate that it is a company of national importance, able to compete on the market” was the comment of George Fracalossi, President of Cassa Central Banca.
The Chief Executive Officer and General Manager, Sandro Bologna, instead highlighted how "the results achieved in an autonomous development path" confirm that the "model of the mutual banking group is rewarded by the market, with a profit exceeding 560 million, 7,2 billion in assets and the CET1 ratio at 22,8 .XNUMX%, confirming the solidity of the Group. "
