Illimity Bank SpA (LTS:0A3J)
€ 2.991 0.101 (3.49%) Market Cap: 248.88 Mil Enterprise Value: 998.58 Mil PE Ratio: 4.16 PB Ratio: 0.26 GF Score: 56/100
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Nine Months 2023 illimity Bank SpA Earnings Call Transcript

Nov 10, 2023 / 08:00AM GMT
Release Date Price: €5.34 (-0.51%)
Operator

Good morning. This is the Chorus Call Conference Operator. Welcome, and thank you for joining the illimity nine-month 2023 results conference call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Corrado Passera, Chief Executive Officer of illimity. Please go ahead, sir.

Corrado Passera
illimity Bank SpA - Founder & CEO

Thank you. Good morning, and welcome to the presentation of illimity's nine-month results.

Let's start with the highlights. Slide 2. In Q3, core profitability saw a robust increase with a net profit of EUR22.8 million. This takes our nine-month total to EUR75 million, a 48% rise year-on-year. Capital position remained solid with a core Tier 1 ratio at 14.75%, well above our SREP requirements. Liquidity remains robust, enhanced by a rise in retail deposits, which saw a EUR755 million increase in the first nine months of this year.

SME business continues to show robust earnings, marking its most successful quarter yet. Profitability of distressed credit business picked up, with a pre

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