BFF Bank SpA (LTS:0RON)
€ 8.83 0.025 (0.28%) Market Cap: 1.65 Bil Enterprise Value: 963.93 Mil PE Ratio: 6.66 PB Ratio: 1.97 GF Score: 79/100
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Q4 2021 BFF Bank SpA Earnings Call Transcript

Feb 10, 2022 / 02:30PM GMT
Release Date Price: €7.52 (+10.39%)
Operator

Good day, and welcome to BFF Banking Group Conference Call about 2021 Full Year Results. (Operator Instructions) Please note this event is being recorded.

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

Massimiliano Belingheri
BFF Bank S.p.A. - CEO & Director

Thank you. Thank you for joining us today in our first full annual reports of numbers of the combined BFF and the DEPO business, it's a year since -- almost a year since we merged the 2 banks. And so we are pleased to report a strong set of earnings and particularly to do so into an environment, which we expect to have a very positive impact in the business going forward, both in terms of higher interest rates but also in a more positive environment for our core factoring and lending business.

But let's look first at the results on Page 2. We report a record profit, both on a reported basis with over EUR 197 million, but also on an adjusted net profit basis with EUR 125 million. That

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