BFF Bank SpA (LTS:0RON)
€ 8.85 0.02 (0.23%) Market Cap: 1.69 Bil Enterprise Value: 1.00 Bil PE Ratio: 6.66 PB Ratio: 1.97 GF Score: 80/100
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Full Year 2020 Banca Farmafactoring SpA Earnings Call Transcript

Feb 10, 2021 / 01:30PM GMT
Release Date Price: €5.2 (+4.89%)
Operator

Good day, and welcome to BFF Banking Group Conference Call about 2020 Full Year Results. (Operator Instructions) Please note, this event is being recorded.

I would like to turn the conference over to Max Belingheri, Group CEO; and Piergiorgio Bicci, Group CFO. Please go ahead.

Massimiliano Belingheri
Banca Farmafactoring S.p.A. - CEO & Director

Thank you, and welcome, everybody, to the full year results presentation. What a year has been. We have reported today some pretty solid results. And given the COVID environment, it is proved once again that the company is strong and stable under many circumstance.

And the financial results, as you can see on Page 3, are in line with the previous quarter's trend, with the 2020 adjusted net income flat year-over-year of 7% increase, if we exclude the LPI over-recoveries, which has suffered from the lower ability of the public sector to transact.

The new business volumes have grown at almost 10% year-over-year when we had a flat customer loan portfolio due to the faster collection that we

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