Banca Ifis (FRA:0I6)
€ 19.71 -0.16 (-0.81%) Market Cap: 1.04 Bil Enterprise Value: 3.47 Bil PE Ratio: 6.41 PB Ratio: 0.59 GF Score: 65/100
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Full Year 2019 Banca IFIS SpA Earnings Call Transcript

Feb 11, 2020 / 04:30PM GMT
Release Date Price: €15.14 (+2.71%)
Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Banca IFIS 2019 Full Year Preliminary Results Conference Call. (Operator Instructions)

At this time, I would like to turn the conference over to Mr. Luciano Colombini, CEO of Banca IFIS. Please go ahead, sir.

Luciano Colombini
Banca IFIS S.p.A. - CEO, MD & Director

Welcome to our call on the 2019 preliminary results. We have just approved the preliminary results, and the actual results are substantially in line with the preview presented in January in the context of the 2020-2022 industrial plan. And I will keep the call short, highlighting the key messages, and then we'll open to Q&A section.

The CET1 is up about 70 bps versus 2018 driven by organic growth. In 2019, net income came in at EUR 123 million (sic) [EUR 123.1 million]. The contribution of PPA post tax was down from EUR 61 million in 2018 to EUR 47 million in 2019. In 2019, the cost of credit was impacted by EUR 28 million provisions on 4 large positions. One of the key

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