Banca Ifis (MIL:IF)
€ 19.77 0.14 (0.71%) Market Cap: 1.05 Bil Enterprise Value: 3.48 Bil PE Ratio: 6.47 PB Ratio: 0.59 GF Score: 66/100
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Q1 2020 Banca IFIS SpA Earnings Call Transcript

May 13, 2020 / 07:00AM GMT
Release Date Price: €8.24 (-1.50%)
Operator

Good morning. This is the Chorus Call conference operator. Welcome, and thank you for joining the Banca IFIS First Quarter 2020 Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Luciano Colombini, CEO of Banca IFIS. Please go ahead, sir.

Luciano Colombini
Banca IFIS S.p.A. - Director

Good morning, and welcome, everybody. Yesterday, the Board of Directors under the Chairmanship of Mr. Fürstenberg, approved the first quarter results.

Before going into the results and the impact of COVID-19, I would like to say that crisis is forcing us to anticipate some macroeconomic trends, which were already evident in last few months. We have to learn from current crisis and accelerate our investment in technology to manage our organization and our clients' [digital].

For example, in just a few weeks about 93% of our employees around Italy started working remotely. Additionally, we maintained continuous contacts with over 5,000 SME clients in April despite the lockdown. We strengthened our IT

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