The IBL Banca Group, active in Italy in the salary or pension-backed loans sector, closed the first half of 2021 with a consolidated gross profit up to 48,2 million euros and a net profit of 33,6 million euros, a sharp increase compared to the approximately 11,6 million at the end of June 2020.
Margins also improved in the six-month period with the interest margin nearly 72 million euro (+26%) while the intermediation margin stood at approximately 107 million euro (+64%). As at 30 June 2021, loans to IBL customers amounted to 3,4 billion euro, of which approximately 3 billion relating to salary-backed loans (up +2%) and customer deposits reached 3,4 billion euros of which deposits for 2,1 billion euros (+2%).
Total assets are close to 7 billion euros. The relevant shareholders' equity is 427,5 million euro. With reference to the prudential supervisory indices the CET 1 Ratio is equal to 15,98% and the Total Capital Ratio at 17,19%, both values are broadly in line with the capital requirements required by the ECB.
The participation of also increased during the semester IBL Banca in Net Insurance, the insurance company listed on the Aim which offers innovative protection solutions for families, individuals and SMEs. Today the bank is positioned as the company's first single shareholder with 27,02% of the capital, confirming its growth strategy in bancassurance.
“The first half of 2021 – he commented Mario Giordano, Chief Executive Officer of IBL Banca – has seen us protagonists of an important M&A activity. We aim to grow further both in our traditional sector of employee loans and in new business areas that we have already successfully explored over the past few years. The results achieved are part of the path of development and further diversification of the business undertaken over time and are the result of the commitment and professionalism of all group personnel".
