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FINANCIALS: Banca IFIS - Q4 Results

FINANCIALS
Credit BulletsCEEMEAEurozoneItalyBullet

Credit Neutral - slightly behind expectations and 2023 on lower interest income but profitability maintained at good level.

  • Net banking income of €699m is 0.8% lower YoY and €13m below estimates
  • Net income is €162m and up 0.9% YoY, but again missed estimates by €2m
  • Average interest income rate declines 0.5% from 6.2% to 5.7% while funding costs are only 0.1% lower to 3.8%
  • CET1 16.1 is 0.3% lower than Q3 on slightly higher RWA.
  • NPLs are 0.3% lower to 5.4%

Webcast at 3:00pm https://www.bancaifis.it/en/press-releases/banca-ifis-fy-2024-preliminary-results/

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Credit Neutral - slightly behind expectations and 2023 on lower interest income but profitability maintained at good level.

  • Net banking income of €699m is 0.8% lower YoY and €13m below estimates
  • Net income is €162m and up 0.9% YoY, but again missed estimates by €2m
  • Average interest income rate declines 0.5% from 6.2% to 5.7% while funding costs are only 0.1% lower to 3.8%
  • CET1 16.1 is 0.3% lower than Q3 on slightly higher RWA.
  • NPLs are 0.3% lower to 5.4%

Webcast at 3:00pm https://www.bancaifis.it/en/press-releases/banca-ifis-fy-2024-preliminary-results/