Banca Ifis: net profit for the nine months reaches the targets
envisaged for year end
Banca Ifis: net profit for the nine
months reaches the targets envisaged for year
end
Despite the fact that the macroeconomic
scenario continues to be uncertain and the general situation
difficult, the Bank continues to operate efficiently and with great
faith in the future and is well prepared, also in terms of its
equity, to face up to the forthcoming months, aware that they are
likely to be unstable
- Net profit of 52,3 million Euro in the first nine months of
2020, with all three quarters of the year showing profit
- Equity position strengthens with CET1 at 11,69%, up 73 basis
points on 31 December 2019
- Total funding up 8,1%: over 9,1 billion Euro
- Provisions made for 47 million Euro in view of Covid-19, of
which 11 million Euro prudently in the third quarter of 2020, in
order to estimate the potential negative effects mainly linked to
the moratoriums
- Npl: 1,7 billion Euro acquired in January - October 2020
- Investments confirmed to speed up digitisation
Results for the first nine months of
2020
Reclassified data1 - 1 January 2020 / 30
September 2020
- Net banking income at 321,7 million Euro, down
compared to 391,2 million Euro at the same period 2019, due to the
slowing of operations brought about by the Covid-19 health
emergency in all segments
- Operating costs come to 229,4 million Euro,
down 4,1% on 30 September 2019, excluding: 11,5 million Euro in net
operating income deriving from a non-recurring component recorded
during the first nine months of last year, 6,9 million Euro in
provisions made for solidarity in 2020 and 7,2 million Euro in
greater provisions made in 2020 for the credit risk on commitments
and guarantees
Capital requirements with the
consolidation within La Scogliera
·CET1 up to 11,69% (10,96% at
31 December 2019) versus an SREP requirement of 8,12%; TCR: 15,45%
(14,58% at 31 December 2019) versus an SREP requirement of 12,5%.
The organic generation of capital will enable the complete
absorption of the Farbanca acquisition. The requirements are
calculated excluding the 2019 dividend, whose payment has been
suspended by ruling of the Bank of Italy and excluding all profits
from the first nine months of 2020.
Capital requirements without the consolidation within La
Scogliera2
·CET1: 15,64% (14,28% at 31 December 2019);
TCR: 20,38% (18,64% at 31 December 2019).
2020 guidance
·For 2020, Banca Ifis expects to see profits in the higher part
of the 2020 guidance (between 50 and 65 million Euro), disclosed
last 6 August.
Mestre (Venice), 5 November 2020 – The Board of
Directors of Banca Ifis met today, chaired by the Chairman
Sebastien Egon Fürstenberg, and approved the results for the first
nine months of 2020.
“The results of the first nine months of 2020
have confirmed the Bank's resilience even at times of great
difficulty, as is that of the Covid-19 pandemic and shown the
solidity of the business model, which is well positioned in
profitable market niches. Despite an unprecedented macroeconomic
context and a situation of general mistrust and uncertainty, Banca
Ifis closed the first nine months of 2020 posting profit of 52,3
million Euro and reaching the guidance defined for the current
year. All quarters were profitable, despite adjustments and
impairment applied reasonably as a result of the Covid-19 pandemic
in the amount of approximately 47,9 million Euro during the first
nine months of the year”, Luciano Colombini – Chief
Executive Officer of Banca Ifis, explains.
“Since the start of the year, Banca Ifis has
strengthened its consolidated CET1 by 73 basis points, coming in at
11,69%, calculated excluding the 2019 dividend, whose payment has
been suspended in compliance with the Bank of Italy recommendations
and prudently also excluding profit for the first nine months of
2020. The organic generation of capital will enable the complete
absorption of the Farbanca acquisition. Quality of assets is also
confirmed as holding out, which to date have shown few signs of
deterioration on the loans portfolio and in any case mainly
relative to positions that were already experiencing critical
issues. On this front, in covering the segments potentially worst
impacted by the pandemic, in the third quarter of 2020, prudent
provisions were made for approximately 11 million Euro on the
estimate of potential negative effects expected and mainly
connected with the moratoriums. Additionally, during these months,
although maintaining close attention to cost control, investments
have been confirmed to speed up the digitisation of the business
and the organisational processes, which remain a priority
target”.
“The Corporate & Commercial Banking loans
portfolio is well diversified by segment, customers and geography.
In the last few months, we have adhered to the moratoriums and
developed new platforms and products, also assisting businesses not
included in the scope with longer repayment plans or by deferring
instalments. Our commitment aims to support all businesses with a
long-term growth perspective.On the Npl market, we have confirmed
our leadership in unsecured small ticket assets, with the award of
large and small deals that in the first 10 months of the year led
us to acquire 1,7 billion Euro in non-performing loans in nominal
amount and which will contribute towards the Group's profitability
for the forthcoming years. At present, we are taking part in other
sales processes for a total of approximately 2,4 billion Euro in
Npls. During the first nine months of the year, amidst a very
difficult market context, cash recoveries are in line with 2019, an
activity that also performed well in October”.
“Our retail funding is solid and customers
confirm their loyalty. The type of deposit changes, depending on
the investment needs and liquidity requirements and records a
preference for long-term deposits, at 5 years, which have shown an
annual increase of 40% thanks to more attractive returns than those
offered by other forms of savings. Excellent results, of
approximately 50 million Euro, were also seen in funding on the
German market, thanks to the partnership announced in July with
Raisin”.
“In a scenario that is as yet uncertain, where a
great deal will depend on the duration and impact of this second
wave of the pandemic, Banca Ifis is continuing to operate
efficiently, looking positively towards the future and is prepared,
including in equity terms, to face the forthcoming quarters, which
are likely to still be unstable. When the macroeconomic context has
stabilised, we will unveil the new Business Plan to the market,
which is aimed at ensuring the Group’s sustainable growth”,
Mr Colombini concludes.
Highlights
RECLASSIFIED DATA3
In order to fully implement the Group’s business
model, as envisaged by the 2020-2022 Business Plan, changes have
been made to the operating Segments as they were previously
structured: the Enterprises Segment, renamed Commercial &
Corporate Banking groups together the commercial activities
intended for enterprises and excludes the portfolios of loans
disbursed by Interbanca before the acquisition and set to run-off
(previously aggregated into the Enterprises Segment); the Npl
Segment has been kept in line with the past, while the last
Segment, now called Governance & Non-Core Services, has been
integrated into the Non-Core section, which includes the portfolios
excluded from Commercial & Corporate Banking.
In addition, Segment reporting relating to
income statement components has been expanded to include a view of
results at the level of net profit.
The comparative information has been restated in
line with the new Segment reporting.
Highlights from the Banca Ifis Group's income
statements for the first nine months of 2020 are set out below.
Net banking income1
Net banking income totalled 321,7 million Euro,
down 17,8% from 391,2 million Euro in the prior-year period.
The Covid-19 health emergency has caused a
general reduction in margins in all segments, in particular in
those where operations are connected with the operation of the
legal system since, as a result of the court closures during the
lockdown period, with activities first frozen and then slowed,
there have been difficulties in proceeding to collect on debt. In
addition to this, there was a physiologically lesser contribution
towards the release of PPA3, the effects of which in the first nine
months of 2020, equal to 27,5 million Euro, as compared with 47,1
million Euro in the same period of last year. The difference is
also highlighted by the early repayments that took place in
2019.
The net banking income of the Commercial &
Corporate Banking Segment amounted to 159,5 million Euro, down
12,1% on 30 September 2019. The Factoring Area (-12,7%), Leasing
Area (-8,7%) and Corporate Banking & Lending Area are down,
recording a reduction of 15,4%, mainly due to the lesser
contribution of the “reversal PPA”3 as compared with the same
period of 2019.
Net impairment losses1
Considered overall, and also including
provisions made for credit risk on guarantees and commitments in
the amount of 7,2 million Euro, net credit risk losses, at 30
September 2020, come to 55,0 million Euro, up on the 48,8 million
Euro at 30 September 2019. Against the lesser provisions made in
the Factoring Area, which had been negatively impacted during the
first nine months of 2019 by adjustments on certain individually
significant counterparties, there is a juxtaposed increase in the
Leasing Area, mainly due to the prudent valuation of segments most
exposed to deterioration following the pandemic and certain
write-down of exposure both to cash and unsecured loans, mainly
deriving from the former subsidiary Interbanca.
Operating costs
Operating costs totalled 229,4 million Euro
(213,2 million Euro at 30 September 2019). This item is down 4,1%
on the same period of last year, if we exclude: 11,5 million Euro
in net operating income deriving from a non-recurring component
recorded during the first nine months of last year, 6,9 million
Euro in provisions made for solidarity in 2020 and 7,2 million Euro
in greater provisions made in 2020 for the credit risk on
commitments and guarantees.
In detail, personnel expenses, of 89,3 million
Euro, drop by 6,7% (95,7 million Euro at 30 September 2019), as a
result of a prudent incentive policy and greater control over
current expenses in light of the present context. The number of
Group employees at 30 September 2020 was 1.736 as compared with
1.759 resources at 30 September 2019.
Other administrative expenses (123,0 million
Euro), net of expenses relative to the closure of certain tax
disputes relating to the former subsidiary Interbanca for 30,9
million Euro, offset by other income for 42,4 million Euro, are
down 3,3% on 30 September 2019. The change is mainly due to lesser
expenses for indirect taxes and duties (driven by the Npl Segment),
partially offset by greater costs for professional services and
expenses for the purchase of goods and other services.
Pre-tax profit from continuing operations
amounted to 68,6 million Euro (-46,6% compared to 30 September
2019). A result on which, despite the positive effect deriving from
the sale of the Milan property for 24,2 million Euro, the effect of
the adjustments and impairment reasonably considered as linked to
the Covid-19 had a negative impact for approximately 47 million
Euro, provisions for commitments and guarantees for 7,2 million
Euro and a provision of 6,9 million Euro was made for solidarity
for voluntary redundancies.
Group net profit for the
period
At 30 September 2020, the Group’s net profit
came to 52,3 million Euro as compared with the 84,0 million Euro at
30 September 2019.
Focus on individual
Segments
Below are the main dynamics recorded in the
individual Segments that go towards forming the economic-equity
results at 30 September 2020.
Net profit of the Commercial &
Corporate Banking Segment comes to 34,4 million Euro, down
24,0% as compared with the first nine months of last year. This
change is due to the reduction of net banking income for 21,9
million Euro, partially offset by lesser value adjustments to
credit risk for 2,0 million Euro. Operating costs dropped by a
total of 5,3 million Euro on the figure recorded for the first nine
months of 2019.
- The contribution made by the Factoring Area
towards net banking income booked by the Commercial & Corporate
Banking Segment came to 107,6 million Euro during the first nine
months of the year, down 12,7% on the same period of last year.
This result is impacted by the lower contribution both of net
interest income (down by 5,8 million Euro) and net commission
income (down by 9,9 million Euro). During the third quarter of the
current year, net banking income decreased by 7,1 million Euro (net
interest income down by 3,4 million Euro and net commission income
down by 3,7 million Euro). This change is due to the reduction in
assets under management both in terms of turnover (down 619 million
Euro in the third quarter of 2020 on the same period of last year)
and in terms of outstanding loans, which were 3,1 billion Euro and
down 0,4 billion Euro.
- Net banking income for the Leasing Area is
36,5 million Euro, -8,7% on the figure at 30 September 2019; this
change is due to the combined effect of lesser interest income,
following an increase in the mix of volumes of the financial
leasing component with smaller margins, lesser collection
commissions due to the moratorium and lesser repayments as a result
of the lesser volumes disbursed during the period.
- Net banking income of the Corporate Banking &
Lending Area, of 15,4 million Euro at 30 September 2020,
shows a decline of 2,8 million Euro on the same period of last
year, suffering a reduction in interest income and commission
linked to the structured finance business, only partially offset by
the contribution on the margin of greater medium/long-term
disbursements to SMEs.
Period profit for the Npl
Segment is approximately 12,8 million Euro, down 65,2%,
mainly due to the negative effects deriving from the Covid-19
pandemic economic-health crisis.Net banking income of the Segment4
comes to 116,7 million Euro as compared with 164,2 million Euro at
30 September 2019 and is characterised by the following
entries:
- "interest income from amortised cost", referring to the
interest accruing at the original effective interest rate, was up
8,4% from 95,7 million Euro to 103,8 million Euro at 30 September
2020, largely thanks to the increase in receivables measured at
amortised cost, the greater contribution by which is related for
51,8 million Euro to writs, attachments of property, and
garnishment orders, and for 19,9 million Euro to settlement
plans;
- by contrast, the reduction of "Other components of net interest
income from change in cash flow" includes the economic effect
deriving from the change in cash flows expected as a result of the
greater or lesser collections made or expected in respect of the
previous forecasts. This component goes from 74,2 million Euro in
the first nine months of 2019 to 27,8 million Euro at 30 September
2020, down 62,5%. A contribution of approximately 29,7 million Euro
is made to the current year result by writs, attachments and
garnishment orders, whilst the amicable management weighs for -0,6
million Euro and the secured and corporate basin for approximately
-2,0 million Euro. In all, during the period, the item was heavily
impacted by the court closures in March, April and May, resulting
in a reduction, as compared with the same period of last year, in
obtaining writs, attachment orders and garnishment
orders;
- net commission income is equally split between the increase in
commission payable on collections and payments and the reduction in
commission income deriving from servicing activities on third party
portfolios.
Operating costs decline by 10,9%, going from
112,3 million Euro in the first nine months of 2019 to 100,0
million Euro at 30 September 2020. The change is mainly due to the
variable costs connected with debt collection and, in particular,
those relating to legal collection impacted by the court closures
due to the Covid-19 emergency.
Net profit of the Governance &
Non-Core Services Segment is 5,3 million Euro, up on the
2,1 million Euro of the first nine months of last year; it includes
the capital gain, net of the related costs of sale, of 24,2 million
Euro deriving from the sale of the property in Corso Venezia,
Milan, partially offset by the greater costs relating to the
provision made for solidarity for 6,9 million Euro and the greater
provisions of 4,3 million Euro made for credit risks connected with
commitments and guarantees.
The net banking income of the
Segment came to 45,4 million Euro, substantively
in line with the 30 September 2019.
Operating costs come to 45,0 million Euro, up
33,7 million Euro on the first nine months of last year. In 2019,
the item benefited from the net effect of 11,5 million connected
with the definition of tax litigation of the former Interbanca.
Indeed, other administrative expenses at 30 September 2019 included
30,9 million Euro in expenses relating to the settlement of certain
tax disputes regarding the former subsidiary Interbanca, the
economic impact of which is fully offset in the item "other net
operating income" for 42,4 million Euro (including the related tax
effect) against the activation of outstanding guarantees.
The breakdown of the main statement of
financial position items of the Banca Ifis Group at 30 September
2020 is shown below.
Receivables due from customers
measured at amortised cost
Total receivables due from customers measured at
amortised cost amounted to 7.957,4 million Euro, up by 4,0% on 31
December 2019. More specifically, as compared with 31 December
2019, the Commercial & Corporate Banking Segment has dropped by
7,7% while the Npl Segment and the Governance & Non-Core
Services Segment have respectively grown by 3,5% and 71,5%.
At 30 September 2020, the Commercial &
Corporate Banking Segment's net non-performing exposures totalled
190,6 million Euro, down 35,8 million Euro from 31 December 2019
(226,4 million Euro), and may be broken down as follows:
- Net non-performing exposures come to 41,8 million Euro are
basically stable in terms of the ratio of net non-performing
exposures to total loans (0,8%);
- The balance of net unlikely to pay positions was 90,0 million
Euro, up 1,6% from the 88,6 million Euro at 31 December 2019;
- Net non-performing past due exposures come to 58,9 million Euro
as compared with the 96,0 million Euro at 31 December 2019 (-38,7%)
with coverage ratio of 10,0% as compared with 8,4% at 31 December
2019.
The Gross Npe ratio of the Commercial &
Corporate Banking Segment is 8,6% (8,5% at 31 December 2019) and
the Net Npe ratio is 3,8% (4,2% at 31 December 2019).
Funding
During the first nine months of 2020, the Group
continued its strategy of consolidating wholesale funding in order
to ensure a better balance with respect to retail funding. In line
with this strategy, no transactions were undertaken on the debt
market with institutional investors during the reference
period.
At 30 September 2020, total funding came to
9.152,9 million Euro, +8,1% on the end of FY 2019; the funding
structure was as follows:
- 53,7% Customers
- 12,1% Debt securities
- 9,7% ABS
- 21,8% TLTRO
- 2,7% Other
At 30 September 2020, payables due to customers
totalled 4.915,6 million Euro (-7,0% compared to 31 December 2019).
This was essentially because of the mentioned decline in retail
funding from 4.791,0 million Euro at 31 December 2019 to 4.416,7
million Euro at 30 September 2020.
Payables due to banks amounted to 2.245,8
million Euro, up 134,1% compared to 31 December 2019. This increase
is substantively due to the June 2020 subscription of a TLTRO III
tranche worth a nominal 1.900 million Euro maturing in June 2023
and the simultaneous early repayment of the TLTRO II tranche
subscribed in 2017 for a nominal 700 million Euro. This
subscription is in addition to the tranche with a nominal value of
100 million subscribed in December 2019 and to time deposits with
other banks for 248,5 million Euro.
Debt securities issued amounted to 1.991,5
million Euro. The item included 887,9 million Euro (-22,8% compared
to 31 December 2019) in securities issued by the special purpose
vehicles as part of the securitisation of trade receivables
launched at the end of 2016. The line item also comprised 625,6
million Euro (including interest) in senior bonds issued by Banca
Ifis, as well as the 415,6 million Euro (including interest) Tier 2
bond. The rest of debt securities issued at 30 September 2020
included 61,4 million Euro in a bond loan issued at the time by the
merged entity Interbanca.
Equity and
ratios
At 30 September 2020, the Group’s consolidated
equity totalled 1.512,3 million Euro, as compared with 1.539,0
million Euro at 31 December 2019.
With prudential consolidation within La
Scogliera, capital ratios at 30 September 2020 amounted to
a CET1 ratio of 11,69%4 (compared with 10,96% at 31 December 2019),
a TIER1 ratio of 12,27%4 (11,56% at 31 December 2019) and a Total
Capital ratio of 15,45%4 (compared with 14,58% at 31 December
2019).
At 30 September 2020 the ratios for the
Banca Ifis Group only, without considering the effects of
consolidation within the parent company, La Scogliera, amounted to
a CET1 ratio of 15,64%4 (compared with 14,28% at 31 December 2019),
a TIER1 ratio of 15,64%4 (14,28% at 31 December 2019) and a Total
Capital ratio of 20,38%4 (compared with 18,64% at 31 December
2019).
In addition, please note that the Bank of Italy
has demanded the Banca Ifis Group to meet the following
consolidated capital requirements in 2020, in continuity with 2019,
including a 2,5% capital conservation buffer:
- Common Equity Tier 1 (CET1) capital ratio of 8,12%, with a
required minimum of 5,62%;
- Tier 1 capital ratio of 10,0%, with a required minimum of
7,5%;
- Total Capital ratio of 12,5%, with a required minimum of
10,0%.
At 30 September 2020, the Banca Ifis Group fully
met the above prudential requirements.
Significant events occurred in
the period
The Banca Ifis Group transparently and promptly
discloses information to the market, constantly publishing
information on significant events through press releases. Please
visit the Investor Relations and Media sections of the
institutional website www.bancaifis.it to view all press
releases.
Communication on the FY 2019
Dividend Distribution Policy
On 1 April last, in accordance with the Bank of
Italy’s recommendation of 27 March 2020 on dividend policy during
the Covid-19 pandemic, the Board of Directors of Banca Ifis decided
to act responsibly and follow the guidance provided, and therefore
to propose that the payment of dividends for financial year 2019 be
postponed until at least 1 October 2020, and thus to proceed with
payment after that date, provided that no regulations or
recommendations from supervisory authorities to the contrary are
issued before that date. On 6 August 2020, the Board of Directors
acknowledged the issue of the Bank of Italy provision of 28 July
2020, with which the supervisory authorities recommended that all
banks abstain until 1 January 2021 from paying dividends relative
to FYs 2019 and 2020, clarifying that the limit refers to cash
payments that effectively reduce the level and quality of the
CET1.
Declaration of the Corporate
Accounting Reporting Officer
Pursuant to article 154 bis, paragraph 2 of the
Consolidated Law on Finance, the Corporate Accounting Reporting
Officer, Mariacristina Taormina, declares that the financial
information contained in this press release corresponds to the
related books and accounting records.
|
Rosalba BenedettoDirector of
Communications, Marketing and External RelationsBanca Ifis S.p.A.
Eleonora VallinHead of the Press
OfficeBanca Ifis S.p.A.M. +39 342 8554140 |
Martino Da RioHead of IR and Corporate
DevelopmentBanca Ifis S.p.A.M. +39 02 24129953
Claudia Caracausi, Davide BruzzesePress
OfficeImage Building+ 39 02 89011300 |
Reclassified Financial
Statements
Net credit risk losses of the Npl
Segment were reclassified to interest receivable and similar income
to present more fairly this particular business, for which net
impairment losses represent an integral part of the return on the
investment.
Consolidated Statement of Financial
Position
| ASSETS (in
thousands of Euro) |
AMOUNTS
AT |
CHANGE |
|
30.09.2020 |
31.12.2019 |
ABSOLUTE |
% |
|
Cash and cash equivalents |
58 |
56 |
2 |
3,6% |
|
Financial assets held for trading through profit or loss |
24.163 |
24.313 |
(150) |
(0,6)% |
|
Financial assets mandatorily measured at fair value through profit
or loss |
103.487 |
112.785 |
(9.298) |
(8,2)% |
|
Financial assets measured at fair value through other comprehensive
income |
1.162.008 |
1.173.808 |
(11.800) |
(1,0)% |
|
Receivables due from banks measured at amortised cost |
1.016.707 |
626.890 |
389.817 |
62,2% |
|
Receivables due from customers measured at amortised cost |
7.957.357 |
7.651.226 |
306.131 |
4,0% |
|
Equity investments |
4 |
6 |
(2) |
(33,3)% |
|
Property, plant and equipment |
110.366 |
106.301 |
4.065 |
3,8% |
|
Intangible assets |
60.800 |
60.919 |
(119) |
(0,2)% |
|
of which: |
|
|
|
|
|
- goodwill |
39.501 |
39.542 |
(41) |
(0,1)% |
|
Tax assets: |
377.122 |
391.185 |
(14.063) |
(3,6)% |
|
a) current |
45.454 |
56.869 |
(11.415) |
(20,1)% |
|
b) deferred |
331.668 |
334.316 |
(2.648) |
(0,8)% |
|
Non-current assets and disposal groups |
- |
25.560 |
(25.560) |
(100,0)% |
|
Other assets |
386.564 |
352.975 |
33.589 |
9,5% |
|
Total assets |
11.198.636 |
10.526.024 |
672.612 |
6,4% |
| LIABILITIES
AND EQUITY (in thousands of Euro) |
AMOUNTS
AT |
CHANGE |
|
30.09.2020 |
31.12.2019 |
ABSOLUTE |
% |
|
Payables due to banks measured at amortised cost |
2.245.825 |
959.477 |
1.286.348 |
134,1% |
|
Payables due to customers measured at amortised cost |
4.915.588 |
5.286.239 |
(370.651) |
(7,0)% |
|
Debt securities issued measured at amortised cost |
1.991.481 |
2.217.529 |
(226.048) |
(10,2)% |
|
Financial liabilities held for trading |
22.824 |
21.844 |
980 |
4,5% |
|
Tax liabilities: |
42.054 |
69.018 |
(26.964) |
(39,1)% |
|
a) current |
7.082 |
28.248 |
(21.166) |
(74,9)% |
|
b) deferred |
34.972 |
40.770 |
(5.798) |
(14,2)% |
|
Other liabilities |
407.479 |
390.022 |
17.457 |
4,5% |
|
Post-employment benefits |
10.179 |
9.977 |
202 |
2,0% |
|
Provisions for risks and charges |
50.930 |
32.965 |
17.965 |
54,5% |
|
Valuation reserves |
(19.587) |
(3.037) |
(16.550) |
n.s. |
|
Reserves |
1.320.483 |
1.260.238 |
60.245 |
4,8% |
|
Share premiums |
102.491 |
102.285 |
206 |
0,2% |
|
Share capital |
53.811 |
53.811 |
- |
0,0% |
|
Treasury shares (-) |
(2.948) |
(3.012) |
64 |
(2,1)% |
|
Equity attributable to non-controlling interests (+/-) |
5.680 |
5.571 |
109 |
2,0% |
|
Profit for the period |
52.346 |
123.097 |
(70.751) |
(57,5)% |
|
Total liabilities and equity |
11.198.636 |
10.526.024 |
672.612 |
6,4% |
Reclassified Consolidated Income Statement
| ITEMS (in
thousands of Euro) |
FIRST NINE
MONTHS |
CHANGE |
|
2020 |
2019 |
ABSOLUTE |
% |
|
Net interest income |
260.801 |
324.638 |
(63.837) |
(19,7)% |
|
Net commission income |
55.495 |
68.729 |
(13.234) |
(19,3)% |
|
Other components of net banking income |
5.407 |
(2.124) |
7.531 |
(354,6)% |
|
Net banking income |
321.703 |
391.243 |
(69.540) |
(17,8)% |
|
Net credit risk losses/reversals |
(47.856) |
(49.014) |
1.158 |
(2,4)% |
|
Net profit (loss) from financial activities |
273.847 |
342.229 |
(68.382) |
(20,0)% |
|
Administrative expenses: |
(212.298) |
(253.792) |
41.494 |
(16,3)% |
|
a) personnel expenses |
(89.310) |
(95.697) |
6.387 |
(6,7)% |
|
b) other administrative expenses |
(122.988) |
(158.095) |
35.107 |
(22,2)% |
|
Net allocations to provisions for risks and charges |
(20.920) |
(12.025) |
(8.895) |
74,0% |
|
Net impairment losses/reversals on property, plant and equipment
and intangible assets |
(13.087) |
(12.793) |
(294) |
2,3% |
|
Other operating income/expenses |
16.902 |
65.370 |
(48.468) |
(74,1)% |
|
Operating costs |
(229.403) |
(213.240) |
(16.163) |
7,6% |
|
Gains (Losses) on disposal of investments |
24.161 |
(408) |
24.569 |
n.s. |
|
Pre-tax profit from continuing operations |
68.605 |
128.581 |
(59.976) |
(46,6)% |
|
Income taxes for the period relating to current operations |
(16.143) |
(44.528) |
28.385 |
(63,7)% |
|
Profit for the period |
52.462 |
84.053 |
(31.591) |
(37,6)% |
|
Profit for the period attributable to non-controlling
interests |
116 |
57 |
59 |
103,5% |
|
Profit for the period attributable to the Parent
company |
52.346 |
83.996 |
(31.650) |
(37,7)% |
Reclassified Consolidated Income Statement: 3rd
Quarter
| ITEMS (in
thousands of Euro) |
3RD
QUARTER |
CHANGE |
|
2020 |
2019 |
ABSOLUTE |
% |
|
Net interest income |
91.122 |
91.081 |
41 |
0,0% |
|
Net commission income |
15.688 |
22.190 |
(6.502) |
(29,3)% |
|
Other components of net banking income |
2.102 |
(1.225) |
3327 |
(271,6)% |
|
Net banking income |
108.912 |
112.046 |
(3.134) |
(2,8)% |
|
Net credit risk losses/reversals |
(14.516) |
(13.968) |
(548) |
3,9% |
|
Net profit (loss) from financial activities |
94.396 |
98.078 |
(3.682) |
(3,8)% |
|
Administrative expenses: |
(69.553) |
(75.274) |
5.721 |
(7,6)% |
|
a) personnel expenses |
(28.630) |
(31.534) |
2.904 |
(9,2)% |
|
b) other administrative expenses |
(40.923) |
(43.740) |
2.817 |
(6,4)% |
|
Net allocations to provisions for risks and charges |
(4.619) |
(5.653) |
1.034 |
(18,3)% |
|
Net impairment losses/reversals on property, plant and equipment
and intangible assets |
(4.490) |
(4.517) |
27 |
(0,6)% |
|
Other operating income/expenses |
4.717 |
11.454 |
(6.737) |
(58,8)% |
|
Operating costs |
(73.945) |
(73.990) |
45 |
(0,1)% |
|
Pre-tax profit (loss) from continuing
operations |
20.451 |
24.088 |
(3.637) |
(15,1)% |
|
Income taxes for the period relating to continuing operations |
(4.811) |
(8.343) |
3.532 |
(42,3)% |
|
Profit for the period |
15.640 |
15.745 |
(105) |
(0,7)% |
|
Profit for the period attributable to non-controlling
interests |
50 |
15 |
35 |
233,3% |
|
Profit for the period attributable to the Parent
company |
15.590 |
15.730 |
(140) |
(0,9)% |
Own funds and capital adequacy ratios
| OWN FUNDS
AND CAPITAL ADEQUACY RATIOS(in thousands of
Euro) |
AMOUNTS
AT |
|
30.09.2020 |
31.12.2019 |
|
Common Equity Tier 1 Capital (CET1) |
992.755 |
1.008.865 |
|
Tier 1 Capital (T1) |
1.042.070 |
1.064.524 |
|
Total Own Funds |
1.311.531 |
1.342.069 |
|
Total RWAs |
8.489.946 |
9.206.155 |
|
Common Equity Tier 1 Ratio |
11,69% |
10,96% |
|
Tier 1 Capital Ratio |
12,27% |
11,56% |
|
Ratio - Total Own Funds |
15,45% |
14,58% |
Common Equity Tier 1, Tier 1 Capital, and Total
Own Funds at 30 September 2020 do not include the profits generated
by the Banking Group in the first nine months of 2020.
| OWN FUNDS
AND CAPITAL ADEQUACY RATIOS:BANCA IFIS BANKING
GROUP SCOPE(in thousands of Euro) |
AMOUNTS
AT |
|
30.09.2020 |
31.12.2019 |
|
Common Equity Tier 1 Capital (CET1) |
1.323.807 |
1.312.821 |
|
Tier 1 Capital (T1) |
1.323.807 |
1.312.821 |
|
Total Own Funds |
1.724.189 |
1.713.198 |
|
Total RWAs |
8.462.054 |
9.190.900 |
|
Common Equity Tier 1 Ratio |
15,64% |
14,28% |
|
Tier 1 Capital Ratio |
15,64% |
14,28% |
|
Ratio - Total Own Funds |
20,38% |
18,64% |
Common Equity Tier 1, Tier 1 Capital, and Total
Own Funds at 30 September 2020 do not include the profits generated
by the Banking Group in the first nine months of 2020.
1 Net credit risk losses of the Npl Segment were
entirely reclassified to interest receivable and similar income to
present more fairly this particular business, as they represent an
integral part of the overall return on the investment.
2 Consolidated own funds, risk-weighted assets
and solvency ratios at 30 September 2020 were calculated based on
the regulatory principles set out in Directive 2013/36/EU (CRD IV)
and Regulation (EU) 575/2013 (CRR) of 26 June 2013, which were
transposed in the Bank of Italy's Circulars no. 285 and no. 286 of
17 December 2013. Article 19 of the CRR provides for the prudential
consolidation of Banca Ifis in the holding La Scogliera. For the
sake of disclosure, we calculated the same indicators without
including the effects of the consolidation within La Scogliera.
Therefore, the reported total own funds refer only to the scope of
the Banca Ifis Group, thus excluding the effects of the prudential
consolidation within the parent company La Scogliera S.p.A.
1 Net credit risk losses on receivables of the
Npl Segment were entirely reclassified to Interest receivable and
similar income to present more fairly this particular business, as
they represent an integral part of the overall return on the
investment.3 The term “PPA reversal” refers to the reversal over
time of the difference between the fair value as measured in the
business combination and the carrying amount of the receivables of
the former GE Capital Interbanca Group, acquired on 30 November
2016.
4 Net credit risk losses of the Npl Segment were
entirely reclassified to Interest receivable and similar income to
present more fairly this particular business, as they represent an
integral part of the overall return on the investment.
4 Common Equity Tier 1, Tier 1 Capital, and
Total Own Funds at 30 September 2020 do not include the profits
generated by the Banking Group in the first nine months of
2020.
- 20201105_Banca Ifis net profit for the nine months reaches the
targets_ENG
Banca IFIS (BIT:IF)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Banca IFIS (BIT:IF)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
