Cassa Centrale Banca closed the first half of 2026 with growing results. The Trentino-based group recorded a net profit of 614 million euros, compared to 590 million in the same period of 2025, with an increase of 4,1%. Net interest and other banking income rose to €1,705 billion, from €1,582 billion a year earlier, marking an increase of 7,8%.
The main driver of these results was the interest margin, which reached 1,244 billion euros, up 7,3% compared to 1,159 billion in the first half of 2025. Net commissions also increased, reaching 450 million, up 6,4% from 423 million euros. Net revenues from financial activities, including dividends, increased by 11 million euros.
The financial management result stood at 1,705 billion, compared to 1,621 billion in the first half of 2025. The data also benefits from the absence of net value adjustments: in 2025 they had amounted to 39 million.
Costs under control
Revenue growth is accompanied by an increase in operating costs, which reached 948 million euros, compared to 923 million in the first half of 2025: an increase of 2,7%. Personnel expenses rose to 602 million, up 5,1% from €573 million a year earlier, partly due to the renewal of the national contract and new hires aimed at strengthening local presence and digital and ICT skills. Other administrative expenses amounted to €399 million, up 1%.
Gross current income thus reached 758 million, compared to 698 million (+8,6%). Income taxes rose from 108 to 144 million, but net profit remains growing at 614 millionThe cost/income ratio, net of extraordinary items, fell to 56%, two points less than the previous year.
More credit to families and businesses
On the commercial front, net customer loans reached 52,3 billion euros, up 2,7% compared to 50,9 billion at the end of 2025. New disbursements in the semester amounted to 5,5 billion, with an 8,2% increase year-on-year. The majority of loans remain concentrated in Northern Italy, which represents 66,4% of the credit stock, followed by Central Italy with 23,3% and the South and Islands with 10,3%.
Total customer collections reached 135,3 billion euros. Direct collections amount to 79,7 billion, up 2,2% by the end of 2025, while indirect assets will reach €59,9 billion, up 9,9%. Assets under management are particularly dynamic, growing by 8,4% in the first six months.
Credit: high quality and zero risk
The Group confirms its “NPL neutral” status, with a zero cost of risk, thanks to net write-backs on credit positions that offset write-downs. Gross NPLs amount to €1,518 billion, while net NPLs amount to €333 million. The gross NPL ratio remains at 2,8%, while the net NPL ratio is 0,6%, both unchanged from the end of 2025. The coverage ratio for impaired loans is 78,1%.
Equity and liquidity
Total assets rose to 96,8 billion euros, from 94,3 billion at the end of 2025. Consolidated net worth reaches 10,9 billion, up from €10,4 billion (+4,1%). Capital strength remains strong: the CET1 ratio and the Total Capital ratio are both at 27,9%. The CET1 ratio in absolute terms is €10,046 billion, while risk-weighted assets amount to €35,953 billion.
The liquidity position is also positiveThe LCR rose to 303% from 299% in December 2025, while the NSFR stood at 178%. These figures confirm a growing Group, with profitability supported by credit expansion and revenue diversification, combined with high levels of capital and liquidity.
