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IBL Banca, strong growth in profit and loans

The group's interim report also indicates that customer deposits rose to 4 billion (+11%).

IBL Banca, strong growth in profit and loans

The IBL Banca Group (“IBL Banca”), leader in the salary or pension-backed loans sector, closed the first half of 2016 with a consolidated net profit of 48 million euro (+59,1%), showing strong growth compared to the result achieved in the same period of the previous year, confirming itself in first place as at 30 June 2016 with a market share of 15,8% for net flows disbursed and 12,8 .XNUMX% for total consumer loans (source Assofin).

in the semester under review the interest margin rose by 15,2% to 43,8 million  compared to 38 million in the corresponding period of 2015. In the same period the intermediation margin grew to 103,5 million with an increase of 45,3% compared to the 71,2 million euro of 30 June 2015.

Consolidated level lending for loans to retail customers they grew to 2,2 billion euro compared to the 2 billion euro of 31 December 2015 (+8,8%). The growth of this item is mainly due to the increase in the core activities of the Bank; salary-backed loans increased by 186,9 million euro reaching 2,1 billion with a growth of 9,8% compared to the previous year.

 In parallel collection from customers amounted to over 4 billion euro, up by almost 11% compared to the 3,6 billion euro at the end of 2015, of which 1,4 billion euro for customer deposits (+6,7% compared to 31 December 2015). Total assets exceeded 5,6 billion euro against 5,2 billion as at 31 December 2015 (+9,2%).

As of June 30, 2016 the equity pertaining to the Group rose to 231,5 million euro (+5,1% compared to 220,3 at the end of the 2015 financial year) and tier 1 capital for supervisory purposes rose to 232,7 million (+18,2 .195,8% compared to 2015 at the end of the XNUMX financial year). In particular the CET 1 Ratio stood at 10,3% and the Total Capital Ratio at 13,5% broadly in line with the capital requirements set by the ECB.

 

“The results of the first half of 2016 record significant growth for IBL Banca, with a strong increase in profit compared to the same period of the previous year. The group continues to consolidate itself in its reference sector. This trend underlines the effectiveness of our business model which certainly has specialization among its strengths, the result of a strategic and positioning choice in which we have always believed and which has allowed us to achieve market leadership” he declared Mario Giordano, Chief Executive Officer of IBL Banca.

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