Press Releases - BFF Banking Group
News & Media
The Board of Directors of BFF Bank S.p.A. approved today the Consolidated Financial Report for the first half 2022
- €68.5m Adjusted Net Profit +47% YoY, with strong performance of Factoring & Lending, growth in Securities Services and Payments, and positive contribution of synergies in the Corporate Center. €56.6m Reported Net Profit
- Strong growth in the loan portfolio at €4.5bn, +35% YoY at historical highs
- Distribution of €68.5m of interim dividend on 24-Aug-22 (c. €0.37 per share)
- Excellent asset quality with 0.2% Net NPLs/Loans ratio excluding Italian municipalities in conservatorship. Annualized Cost of Risk on loans at 10.7bps, due to generic provisions driven by more conservative macro assumptions, and to private exposure provisions
- Strong capital position: CET1 ratio at 15.1% and TCR at 21.2% excluding 1H22 net profit, and 17.4% and 23.5% including 1H22 net profit
- Well positioned in a raising interest rate environment
- No exposure to Ukrainian and Russian markets
Milan, 4th August 2022 – Today, the Board of Directors of BFF Bank S.p.A. (“BFF” or the “Bank”) approved the First Half 2022 Consolidated Financial Report as of 30th June 2022, the second semi-annual consolidated financial accounts after the acquisition and merger by incorporation of DEPObank – Banca Depositaria Italiana S.p.A. (“DEPObank”) into BFF.
Massimiliano Belingheri, CEO of BFF Banking Group, commented: ”The results of the first half of the year, marked by a strong growth of earnings and loan portfolio at historical highs, are a reason to be very pleased, and allow us to confirm the distribution of an interim dividend.
Although in a macroeconomic environment of uncertainty, we report a solid performance in Factoring & Lending, and growth in Securities Services and Payments, while maintaining a strong capital position. The Group has no exposure to the Ukrainian and Russian markets and remains well positioned, continuing on the path of growth outlined in the business plan."