Banca Ifis, the BoD has approved the 2020 draft financial statements and dividend proposal of 0,47 Euro/share
Mestre (Venice), 11 March 2021 – The Board of Directors of Banca Ifis met today under the chairmanship of Sebastien Egon Fürstenberg and has approved the draft and consolidated financial statements for the year 2020 which incorporate the preliminary results as at 31 December 2020, previously approved by the Board and disclosed to the market on 11 February 2021. The consolidated financial statements show an annual group net profit of 68,8 million Euro, a result that exceeds forecasts, which had estimated between 50 and 65 million Euro.
In a year that was profoundly marked by the Covid-19 pandemic, the Group has exceeded expectations, confirming resilient profitability. On the strength of the strategic initiatives and investments made during the year, the Bank can now speed up the route pursued based on the digitisation of the business model, attention to the customer and the valuation of people.
The 2020 draft financial statements will be submitted to the Shareholders’ Meeting on 22 April 2021. For more details, please see the press release on the preliminary results, available in the “Media” section of the website: https://www.bancaifis.it/en/
In accordance with the Supervisory recommendation (ECB’s recommendation of 15 December 2020 and the Bank of Italy’s recommendation of 16 December 2020), Banca Ifis will propose to the Shareholders’ Meeting the distribution of a 2020 dividend equal to 0,47 Euro per share, consequently deducted from own funds as at 31 December 2020. The payment date will be on 26 May 2021, record date on 25 May 2021 and ex dividend date (coupon no.23) on 24 May 2021.
The dividend will be paid through the authorized financial intermediaries with which the shares are registered in the Monte Titoli system.
As regards the dividends resolved and not distributed for 2019, the Bank will continue to maintain them as a reduction of the Group’s equity and to book them amongst other liabilities, at least until 30 September 2021, as envisaged by the ECB and the Bank of Italy’s Recommendation.
The Meeting notice and documentation on the meeting minutes will be published according to the terms and guidelines stipulated by the regulations in force.
