Banca IFIS: an excellent 2013

    Banca IFIS S.p.A.
    Financial
    Gruppo Banca IFIS
    Price Sensitive Press Releases
  •  IRAG01


The CEO Giovanni Bossi: the result we are most proud of is the Bank’s asset quality.
A 0,57 Euro dividend per share proposed to the Shareholders’ Meeting

Table of Contents
Full year 2013 1 January – 31 December

  • Profit for the year up 8,5% to 84,8 million Euro, and up 18,5% to 92,7 million Euro not accounting for the effects of the Finance Act.
  • Net banking income increasing by 7,9% to 264,2 million Euro.
  • Net profit from financial activities rising 14,9% to 219,6 million Euro.
  • Excellent cost/income ratio, 28,9% (27,8% in 2012).
  • Net non-performing loans/total loans in the Trade Receivables sector: 2,6% compared to 4,3% (December 2012).
  • ROE, equal to 24,8%, remains at excellent levels.
  • Solvency: 13,5%.
  • Core Tier 1: 13,7%.

Fourth quarter 2013
1 October – 31 December

  • Contribution of the Government bond portfolio in reduction; net banking income down 9,3% to 70,1 million Euro.
  • Net profit from financial activities increasing by 17,5% to 60,0 million Euro.
  • Profit for the period: -12,6% to 17,7 million Euro, but up 26,0% to 25,6 million Euro not accounting for the effects of the Finance Act.

 

Comment on operations

The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien von Furstenberg and approved the draft Financial Statements for the year 2013, mandating the Chairman to call the Shareholders’ Meeting for the approval of the Financial Statements to be held on 17 April 2014. A 0,57 Euro dividend per share proposed to the Shareholders’ Meeting.
The comment of Giovanni Bossi, CEO of Banca IFIS: «Throughout 2013, we achieved positive results in each quarter. At this year’s Shareholders’ Meeting, we will report not just higher Equity, Liquidity and Profitability, but also, and most importantly, excellent asset quality. The latter is the result we are most proud of, allowing us to continue making an impact on the real economy with the reasonable certainty offered by a sustainable business model, and therefore to look ahead confidently. We moved fast, thanks to our vision and an organisation accustomed to change, and took all necessary measures to mitigate the effects of a prolonged crisis which is only starting to show early signs of recovery. We strengthened our organisation and continued recruiting new talents throughout the year. These are the foundations of our future growth, as we strive to give our best and react promptly and transparently. As our Group grows in turnover and size, we will not surrender these principles, which allowed us to generate not only economic, but also social value».


Archive