The Board of Directors of ProFamily, company of the Banco Bpm Group specialized in consumer credit, approved the draft financial statements for the 2017 financial year. Almost 80 financing transactions were disbursed over the past year, for a total volume of 575 million euro, the 16% more than in 2016.
ProFamily closed the 2017 financial year with a profit of € 14,9 million (+21% compared to last year).
The direct commercial network of ProFamily SpA placed loans for 460,8 million euro against 371,1 million in the previous year. There are 2.849 agreements with business sources that generated business during the year.
The network of ProFamily agencies distributed a volume of personal loans and salary-backed loans products for a total of €114,4 million, recording a reduction in volumes disbursed compared to 2016 mainly due to the migration to the new IT platform.
“2017 was a year full of satisfactions for ProFamily – comments Massimiliano Becheroni, Outgoing Chief Executive Officer of ProFamily – despite a still complex economic context, we kept the already excellent quality of the portfolio under control and relaunched the commercial sector. In addition to these important aspects, the excellent results were possible also thanks to the maintenance of a high level of service and cost optimization”.
ProFamily has envisaged the addition of insurance products to financial products. The business volume of brokered insurance premiums in 2017 amounted to 16,8 million euros. ProFamily closed the year with a network of 7 direct branches, an indirect network of 35 points of sale and with a staff of 105 units, 32 of which are located in the commercial network, while the central structures employ 73 units.
The cost of credit in December 2017 (measured as the cost of write-downs compared to the outstanding) amounted to 0,69%, (substantially stable compared to the previous year) due to the careful selection of sources of business carried out on the basis of qualitative.
“For 2018 the Company,- declares Massimo Dorents, new Chief Executive Officer and General Manager of ProFamily – will continue to focus its activity on developing the distribution network which allows it to be present throughout the country in order to achieve a significant increase in business.
