Banco Desio, third quarter profit soars to 225.7 million

Banco Desio placed a 400 million euro covered bond

(Finance) – Consolidated net profit of the third quarter of Desio Bank is equal to 225.7 million (annualized ROE at 23.3%), up compared to the same period in 2022 (+252.8%), supported by extraordinary items amounting to 130.8 million.

Solid operational performance supported by revenue growth (+19.7%) with interest margin (+36.7%) and net commissions (+1.1%) growing; operating margin at 192.7 million, a further improvement compared to the third quarter of 2022 (+27.2%).

Loans to customers ordinary at 11.9 billion euros (+3.4% compared to YE 2022) with further disbursements to families and businesses during the reference period for 1.2 billion euros. Direct collection an increase of Euro 14.6 billion (+15.7%), Indirect collection is equal to Euro 19.3 billion (+12.7%, of which ordinary customers increased by 19.6%).

Stable incidence of impaired loans: gross NPL ratio at 3.4% (3.3% in YE 2022) and net at 1.9%. Solid levels of coverage on impaired loans at 44.7% and on performing loans at 0.86% (coverage on impaired loans net of public guarantees equal to 48.7%).

Further strengthening of liquidity indicators with LCR on time at 243.27% (ex 152.43% at YE 2022) and NSFR at 129.07% (ex 128.40%).

The financial solidity of the Banco Desio Group is confirmed with CET1 at 16.89%.

The Board of Directors of Banco di Desio e della Brianza has resolved to allocate an amount to the non-distributable reserve
equal to 2.5 times the extraordinary tax on the increase in the interest margin.

tlb-finance