(Finance) – The BCC Iccrea Groupthe largest Italian cooperative banking group, closed the first half of 2023 with a Net income equal to 797 million euros (683 million euros in the first half of 2022, +16.6%). In terms of revenues, 2023 reported operating income of 2,697 million euros (+9.1% on the first half of 2022) thanks to the positive dynamics of the interest margin, equal to 1,948 million euros (+16.7% approximately on the first half of 2022). Positive trend also for net commissions which stood at 672 million euros (+1.9% compared to the first half of 2022).
The net adjustments for credit risk they amounted to 195 million (182 million euros in the first half of 2022) aimed at maintaining a prudent and significant monitoring of credit risk. The cost of risk (annualised) is equal to 44 bps.
THE net loans to customers they amounted to 89.6 billion euros (90.9 billion euros at the end of 2022); the level of credit quality is stable compared to the end of 2022 with a gross NPL ratio of 4.5% and a Net NPL ratio by 1.5%. The. remains high and growing further roofing level (coverage ratio) on non-performing loans equal to 69.3% (67.4% at the end of 2022). Including the effects of the recent agreement for the sale of 570 million euro of bad loans and unlikely to pay, the gross NPL ratio would be approximately 4% and the net NPL ratio 1.4%.
There direct deposits from customers it stands at 126.3 billion euros (128.3 billion euros in December 2022).
Thanks to the result for the period, i capital ratios: the CET1 ratio, equal to 19.9% and the TC ratio equal to 21.1%, well above the requirements.