Banca IFIS: performance up across all business areas. Group net banking income at 79,4 mln Euro (+9,3%), DRLs in the spotlight (+224%)

1 January-31 March 2016

• Net banking income: 79,4 million Euro (+9,3%);
• Operating costs: 35,8 million Euro (+40,1%);
• Profit for the period: 22,0 million Euro (-16,0%);
• Cost of credit quality for trade receivables: 87 bps;
• Bad loans ratio in the Trade Receivables segment: 1,1%;
• Hiring up: 50 new staff added in the first 3 months of 2016 (+16,3%);
• Common Equity Tier 1 (CET1): 13,6% (14,2% at 31 December 2015);
• Total Own Funds Capital Ratio: 14,7% (14,9% at 31 December 2015).

Comment on operations

Mestre (Venice), 27 April 2016 – The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien Egon Fürstenberg and approved the interim financial report for the first quarter of 2016.
“We closed a quarter characterised by heightened market volatility and continuing systemic uncertainty”, said Giovanni Bossi, Banca IFIS CEO. “Against this backdrop, regulators are constantly revising regulations and instruments, requiring market participants to react quickly and adapt. Banca IFIS continues developing these skills by effectively embracing change and questioning existing methods and processes in order to boost profitability. Even though we have to play by ear—said Mr Bossi—our business model allows us to swiftly react to the changes and challenges of the current market scenario while always keeping our goal in mind: generating profits and value for all our stakeholders.”