11 May 2017

APPROVED THE RESULTS FOR THE FIRST 3 MONTHS OF 2017

“Both the Interbanca integration and the results are positive, we look to the future with the intention to continue improving and growing.”
CEO Giovanni Bossi

Highlights – 1st Quarter 2017 Results.
RECLASSIFIED DATA1

– Net banking income: 102,3 million Euro (+33,5%);
– Net profit from financial activities: 102,1 million Euro (+49,4%);
– Operating costs: 56,4 million Euro (+57,5%);
– Profit for the period: 32,7 million Euro (+48,3%);
– Credit risk cost of the loans to SMEs segment: 48 bps;
– SMEs net bad-loan ratio (excluding NPL Area): unchanged at 1,3%;
– SMEs gross bad-loan coverage ratio: 91,9% (92,0%);
– Total Group employees: 1.361 people (1.323 at 31 December 2016)
– Common Equity Tier 1 (CET1): 15,4% (15,7% al 31 December 2016) 2;
– Total Own Funds Capital Ratio: 15,4% (15,7% al 31 December 2016)2.


Mestre (Venice) – 11 May 2017
The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien Egon Fürstenberg and approved the financial results for the first quarter of 2017. “Banca IFIS is on a roll and determined to achieve excellent results across all businesses, consistently with its plans and in line with market expectations,” said Giovanni Bossi, Banca IFIS CEO. “In the first three months of 2017 we achieved our targets: we increased the number of customers across all businesses; our lending process was excellent, in compliance with the three pillars (control of profitability, liquidity, and capital absorption) that drive all the Group’s operations; the integration of the new segments (leasing and corporate banking) – added to the Banca IFIS Group with the acquisition of the former GE Capital Interbanca Group – is proving effective, with the individual business units showing a positive trend and expected to improve rapidly thanks to cross-selling. As a result of the strategic repositioning that started with the acquisition, we increased our market share in the various businesses as well as generated innovative financing arrangements in terms of customers and markets, in line with the 2017-2019 strategic plan. We will continue developing the acquired business segments, executing the planned mergers of IFIS Factoring and Interbanca in Banca IFIS in the second half of the year. We will complete the migration to the new core banking platform, which will become operational by the end of the first six months of 2017, and continue working steadily on new technologies to support the lending process and banking services. We are working for a strategy to diversify funding sources as well as entering the bond market through a bond issue, as approved by the Board of Directors and in line with the 2017-2019 strategic plan”.

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