Funding and liquidity

Overview

The Bank’s funding strategy is constantly evolving and has the primary objective of ensuring that liquidity levels are suitable to support the growth Banca IFIS has planned. This can be achieved both through the use of new forms of funding directed at the market of institutional investors and through consolidation of the funding channels with retail customers, for which Banca IFIS is well-known for its success.

The search for diversification will allow the Bank more flexibility in management of the funding and deposits, more accurate forward planning, also for specific needs, and will guarantee constant, ample, liquidity reserves. Hence the issue of the recent, fixed-rate, senior bond for institutional investors only,  issued on 26 May 2017 for a nominal value of Euro 300,000,000.

Funding evolution (in EUR million)

Funding Breakdown – 1H 2017

Funding Strategy

  • Continuation along the retail customer deposit channel growth path through Rendimax and Contomax products;
  • Use of both Senior and Subordinate bonds for institutional investors only, possibly also through the Euro Medium Term Note Program (EMTN);
  • Maintenance of large liquidity buffers, also in order to comply with regulatory liquidity requirements (NSFR and LCR);
  • Securitization of trade receivables, both for market operations and in order to be eligible for refinancing transactions with the European Central Bank.