First nine months of 2014: Banca IFISs excellent results driven by credit quality
- Banca IFIS S.p.A.
- Gruppo Banca IFIS
- Price Sensitive Press Releases
First nine months of 2014
1 January-30 September
- Net banking income: 210,8 million Euro (+8,6%)
- Profit for the period: 74,2 million (+10,5%)
- Net profit from financial activities: 181,1 million Euro (+13,5%)
- Non performing loans on loans ratio in the Trade Receivables sector: 1,5% at September 2014 from 2,6% at December 2013
- NPL coverage ratio: 86,6% at September 2014 from 78,4% at December 2013
- Cost of credit quality: 189 bp (333 bp at 30 September 2013)
- Hiring up: over 89 new resources employed by the Group
- Constant improvement of Total Capital Ratio: 14,9%
3rd quarter 2014
30 June-30 September
- Net banking income: 67,8 million Euro (+8,6%)
- Net profit from financial activities: 59,3 million Euro (+9,5%)
- Net profit: 24,1 million Euro (+4,6%)
The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien von Furstenberg and approved the interim report for the first nine months of 2014.
“Excellent credit quality is the key element of this last quarter – stated the CEO Giovanni Bossi – and it should be noted that this result was achieved although the scenario is still adverse. The improvement is not limited to bad loans, which have become substantially negligible: it involved all impaired loans categories in general. This confirms that our business model, which supports SMEs without prejudice to credit quality, is successful. The results – Mr Bossi added – are satisfying in terms of profits, equity, and available liquidity. In the next quarters, then, the Bank will continue to support Italy’s real economy, generating positive returns for shareholders and improving its growth prospects”.