illimity, Italy’s digital bank founded through a SPAC, is pleased to announce its new 2021-2025 strategic plan.
Highlights of the plan include:
Significant and sustainable profitability:
- ROE to double from 10% in 2021 to 20% in 2025
- Net profit to quadruple from €60-€70 million in 2021 to over €240 million in 2025
Robust capital base including dividend flow:
- Shareholders’ equity €1 billion in 2023, increasing to €1.4 billion in 2025
- CET1 Ration constantly over 15%
- Begin paying shareholders a dividend in 2022
Strategic Alliance with the ION Group
- The IT platform developed by illimity will be licensed by ION Group, generating revenue of €90 million by 2025
- ION will also take up to a 9.99% stake in illimity through a capital increase for 5.75 million ordinary shares and warrants for a further 2.4 million shares
B-ILTY is born
- The creation of the first direct bank in Italy for small companies will be launched in Q4 2021
New Hype
- Launch in Q3 2021 of digital management hub as an added feature to the largest open banking platform in Italy
- 2021: 1.4 million customers and expected to grow to 3 million by 2025
Click here for full details.
