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04 Aug 2022 11:47
BFF Banking Group announces a strong set of consolidated financial results for 1H 2022 and the approval of an interim dividend
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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."