Banca IFIS: the first nine months of 2017 saw positive and constantly improving indicators. Confirmed the Group’s profitability targets.
- Banca IFIS S.p.A.
- Gruppo Banca IFIS
- Price Sensitive Press Releases
Profit more than doubled (149,1 million, +125%)
The relentless growth in equity makes the bank more robust
Highlights– Results for the first nine months of 2017
(1 January-30 September)
- Net banking income: 371,3 million Euro (+56,2%)
- Net profit from financial activities: 391,7 million Euro (+79,5%)
- Operating costs: 186,2 million Euro (+56,9%)
- Net profit for the period: 149,1 million Euro (+125,0%)
- Cost of risk towards SMEs (Trade Receivables, Corporate Banking, and Leasing segments): -19bps;
- Ratio of net bad loans to total loans to SMEs: 1,6% (1,2% at 31 December 2016);
- Coverage ratio of gross bad loans to SMEs: 89,3% (92,0% at 31 December 2016);
- Total Group employees: 1.432 employees (1.323 at 31 December 2016);
- Common Equity Tier 1 (CET1): 17,14% (15,82% at 1 January 2017);
- Tier 1 Capital Ratio (T1)2: 17,14% (15,82% at 1 January 2017);
- Total Own Funds Ratio2: 17,14% (15,83% at 1 January 2017).
Highlights– 3rd Quarter 2017 Results
(1 July-30 September)
- Net banking income: 121,3 million Euro (+39,8%)
- Net profit from financial activities: 123,2 million Euro (+48,4%)
- Operating costs: 63,6 million Euro (+51,7%)
- Net profit for the period: 45,5 million Euro (+67,5%)
Mestre (Venice), 9 November 2017 – The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien Egon Fürstenberg and approved the Group’s interim financial report for the first nine months of 2017.
We acted swiftly and resolutely to position the Bank on sustainable growth paths. The market scenario is challenging, and interest rates at zero are not helping. Competing in this environment requires significant efforts on the part of all the Group’s employees”, said Giovanni Bossi, Banca IFIS’s CEO. “This commitment is present and leverages the skills of the resources across the various businesses, but requires considerable flexibility in tackling new targets as well as repositioning ourselves in the market—all without losing sight of the goals for the period and of the three-year strategic plan. Based on the results achieved, I can say that we respected the roadmap for the merger of the former Interbanca Group which is now a completed process. Now we can focus on growth and development”. The CEO added that “we are going to accelerate our digital growth: in the last part of the year, we will launch two portals dedicated to our two types of customers, businesses and households. We are against digital technology as a fad and an end in itself, and we support it when it enables and improves the user’s experience in his or her relationship with the Bank.