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The Board of Directors of BFF Bank S.p.A. today approved the consolidated financial statements for the first quarter 2022
- €38.1m Adjusted Net Profit, +37% YoY, with €13.4m of pre tax synergies in Corporate Center, steady growth in Securities Services and Payments, and recovery in Factoring & Lending. €31.3m Reported Net Profit
- Strong capital position: CET1 ratio at 16.7% and TCR at 23.2%, increased capital flexibility with €150m AT1 issued in Jan-22
- Excellent asset quality with annualized Cost of Risk at 1.1bps on loans
- Half-year dividend distribution after 1H22 results in Aug-22, €38.1m already accrued in 1Q22
- Well positioned in a raising interest rate environment
- No exposure to Ukrainian and Russian markets
- Signed an agreement for the acquisition of MC3 Informatica S.r.l., an IT consulting company based in Brescia, with closing subject to the expiry of the of 90-day period required for the prior notification to Bank of Italy.
Milan, 12th May 2022 – Today the Board of Directors of BFF Bank S.p.A. (“BFF” or the “Bank”) approved the first quarter 2022 consolidated financial accounts, one year after the acquisition and merger by incorporation of DEPObank – Banca Depositaria Italiana S.p.A. (“DEPObank”) into BFF, with accounting and fiscal effect from 1st March 2021 .