BFF Bank SpA (FRA:2BF)
€ 8.94 0.195 (2.23%) Market Cap: 1.69 Bil Enterprise Value: 1.00 Bil PE Ratio: 6.67 PB Ratio: 1.96 GF Score: 80/100
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Q3 2020 Banca Farmafactoring SpA Earnings Call Transcript

Nov 10, 2020 / NTS GMT
Release Date Price: €4.39 (+3.79%)
Massimiliano Belingheri
Banca Farmafactoring S.p.A. - CEO & Director

Thank you. Thank you, everybody, for joining us today. I hope you're all safe and sound given what's happening around the world. We're pleased to report, on Page 3 of the presentation, our key results of the 9 months to date. I would say it's a continuation of the trends we have seen in the first 2 quarters with the bank continuing to deliver solid financial performance and profitability, a good control around risk, ample funding in capital, good volume growth and a portfolio which has been growing less than volumes given the ample liquidity that has been provided through the system.

Overall, net income has been flat. If you take out the effect of LPI over-recoveries, though, it has been trending up 10% year-over-year. New volumes have been growing at double digit, 25% year-over-year to EUR 3.8 billion. And as I said, customer loans have grown instead only marginally year-over-year, 3%. That's a disappointing result in terms of volume growth, but it's significantly higher than the market given, as I said, the liquidity in the

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