At the end of 2019 the total assets of illimity Bank have reached approximately 3 billion euros, value in strong increase compared to 1,2 billion euros recorded at 31 December 2018. The stock is up sharply on the Stock Exchange (+4,13%).
The growth was driven by customer credits, more than tripled in year a 1,6 billion of euros on the push of a strong acceleration commercial, connected to the launch of the digital bank direct, operational since 12 September.
One also contributes to the total assets strong liquidity base, equal to approximately €1,1 billion as at 31 December 2019 between cash, net interbank position and high quality readily liquidable financial assets and other negotiable securities.
In terms of economic results, i revenues confirmed their acceleration also in the fourth quarter, up 84% on a quarterly basis and 36% net of non-recurring items.
Il fourth quarter of the 2019 closes with 2,1 million euro positive net result. Even net of positive and negative non-recurring components recorded in the quarter, the economic result for the period essentially reaches breakeven.
“illimity's start-up phase can now be considered substantially completed: with the team, systems and operational resources already in place, we expect the operating leverage to become progressively more visible during 2020, a year that will see strong quarterly growth of revenues and profitability – commented the managing director Corrado Passera – We therefore confirm our objectives”.
