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- Net loans to customers and investments increase to 1.83 billion euro (+46%) in the first nine months (1.26 bln at 30 September 2019), despite the selective approach to generating new business. Confirmation of a solid pipeline for the last part of the year
- Total assets rise to 3.4 billion euro (2 bln euro at 30 September 2019) and include liquidity of around 700 million euro
- Capital base robust and growing further: CET1 Ratio 19.2% (over 20% pro-forma)
- Outlook 2020: confirmation of net profit target of around 30 million euro for the current year (ROE 5%)
Chaired by Rosalba Casiraghi, the Board of Directors of illimity Bank S.p.A. (“illimity” or the “Bank”) yesterday approved the results at 30 September 2020.
Despite the persistence of the difficult environment caused by the COVID-19 emergency, illimity has continued to post solid results in all the sectors in which it operates, confirming the path towards its target of net profit of around 30 million euro for the current year, a figure which corresponds to an ROE of around 5% already in the first full year of the Bank’s activities.
In addition to its positive results, illimity also carried out an important strategic initiative in its Direct Bank Division in the quarter just ended, signing the agreement for the joint venture in HYPE. This initiative will provide significant momentum to the Bank’s strategy in digital financial services, creating a national champion in the field of fintech platforms for digital services.
The first nine months ended with a net profit of 24.3 million euro (-18.2 million euro in the first nine months of 2019) to which the good performance of the third quarter contributed, posting a pre-tax profit rising to 13.2 million euro (from 10 million euro in the second quarter of 2020) and a net profit of 9.5 million euro.
The main driver behind the rise in profits during the year has been the positive trend of net customer loans and investments, which totalled 1.83 billion euro at 30 September 2020, representing a rise of 46% over the figure of 1.26 billion euro at the corresponding date in 2019. Compared to June 2020, the balance rose by 4%.
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