BFF Bank SpA (MIL:BFF)
€ 8.98 0.195 (2.22%) Market Cap: 1.69 Bil Enterprise Value: 1.00 Bil PE Ratio: 6.67 PB Ratio: 1.96 GF Score: 78/100
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Q3 2021 BFF Bank SpA Earnings Call Transcript

Nov 12, 2021 / 09:00AM GMT
Release Date Price: €7.43 (+0.47%)
Operator

Good day, and welcome to BFF Banking Group Conference Call about 9 Months 2021 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, Vice President and CFO. Please go ahead.

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

Thank you, and welcome, everybody, to our results presentation. We are pleased to report on Page 2, adjusted net income of EUR 79.4 million, growing almost 6% year-on-year. That's despite the impact, as we described in the previous quarters of the DEPObank bond portfolio. The growth of net income was driven primarily by the positive performance of the security services and the business payment business unit. We've seen, though, a good recovery also and better collection in factoring and lending. And as you will see later, also a positive trend in terms of recovery of volumes and reduction in the gap on the loan book in factoring and lending.

Reported net income is at EUR 240 million, including the

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