(Finance) – “The year was decidedly intense and marked by geopolitical tensions, which added to the effects of the pandemic of the previous two years and led to a scenario of high volatility. However, our group was able to confirm its reactivity , seizing the opportunities of the external context and obtaining excellent results“. He stated this Angelo Campani, General Manager Of believeduring the presentation of the 2022 results to the financial community. The Emilian bank closed the year with a consolidated net profit of 317 million euros, down 10% on the figure for the previous year which however had benefited from badwill of 95, 6 million linked to the acquisition of CariCento.
“We are done with the best profit ever if we do not consider the contribution of the badwill of the CariCento acquisition – he underlined – This demonstrates how our group is adapting to the external context in order to remain very competitive”. Profit was up by 23.4% y/y without considering the accounting contribution of the acquisition.
Campani highlighted that Credem is “directing to a zero NPL bank destination“. The gross NPL Ratio is 2.1%, below the EU average (2.3%) and well below the average of the Italian banking system (3.2%). The net NPL Ratio is 0.9 %.
Speaking of capital solidity, the Director General highlighted that “the ECB has assigned us the Pillar 2 requirement (PR2) lowest in Italy“, testifying to the “solidity of our business model and the group’s principals”.
“The group has been able to maintain high profitability even during various economic cycles, maintaining ROE levels of absolute excellence – highlighted the banker – These derive from the high diversification of the business model, which will also support us in the current economic context, characterized by high uncertainty”.
Looking ahead to the coming months, Campani said: “We intend to invest in our resilience and ability to adapt, to seize new growth opportunities. We intend to strengthen the path undertaken through an intense planning activity, for which we have 10 strategic directions for an average of 38 initiatives in parallel”.
Analyzing some activities related to the business, the DG stated that the bank “will continue to specialize the offer model in Wealth Management and bancassuranceI will continue with the innovative digital offer for businesses, there will be a strong commitment to consumer credit and will place an important focus on the commercial business unit to strengthen the distribution model”.