(Finance) – The Group Banca Popolare di Sondrio confirmed the solidity of its commercial positioning in the areas in which it operates and the ability to adequately address the complexities of the current macroeconomic scenario, achieving as of 30 September 2024, a net profit of 431.9 million euros, up 23.9% compared to the same period last year.
THE capital ratios are confirmed at particularly high levels, showing a significant buffer compared to regulatory requirements. The fully phased coefficients, net of a dividend accrued in the period for a total of €240 million, corresponding to a payout of 55%, are 16.3% with reference to the CET1 ratio and 19.3% for the Total Capital ratio.
The incidence of gross impaired loans, summarized by the indicator NPL gross ratio, is reduced to 4% from 4.3% in September 2023, not yet incorporating the expected benefit of the divestiture operations currently being finalized. The incidence of net impaired exposures, which reflects the high provisions, instead stood at 1.7%, in line with the September 2023 value.
There direct collection from customers amounted to €42,679 million, (+0.7% compared to the end of 2023). The component coming from institutional investors has increased since the beginning of the year, above all thanks to the placement of new bond loans, in line with the provisions of the funding plan; the remaining part of direct collections remains stable; there indirect collectionequal to €50,849 million, increased compared to €46,319 million at the end of 2023 (+9.8%), above all thanks to the favorable performance of the financial markets. Administered savings amounted to €42,671 million compared to €39,143 million at 31 December 2023 (+9%). The managed savings it amounts to €8,178 million compared to €7,176 million at the end of 2023 (+14%), highlighting positive net flows in terms of collections of over €550 million2, an increase compared to the positive trend observed in the last financial year.
The liquidity indicatorsboth short-term (Liquidity Coverage Ratio) and medium-term (Net Stable Funding Ratio), are positioned well above the minimum regulatory requirements. The Liquidity Coverage Ratio stood at 179% while the Net Stable Funding Ratio stood at 129%.
Outlook. “Our Group, thanks to the continuation of the solid trend underway in terms of core banking activities, excellent operational efficiency and credit risk under control, should consolidate the results achieved so far, with a target ROE for the entire financial year in the 15% area”.
“Let’s record very positive results also in the third quarter of the current financial year. The proceeds from the core banking activity stood at more than satisfactory levels, consolidating the growth in revenues on an annual basis, a premise which,
together with cost control, to ensure an adequate return on our capital. Despite the complexity of the macroeconomic scenarioour Group, through constant improvement of its commercial structure, continues to support
the real economy with the disbursement of new loans and to provide products and services appreciated by customers with particular reference to payment systems, international activity, wealth management and bancassurance” he declared Mario Alberto Pedranzini, Managing Director and General Manager of Banca Popolare di Sondrio. “We believe that the decline in inflation and the prospect of a further reduction in interest rates by the European Central Bank will have the effect of strengthening consumer and business confidence, reinvigorating their propensity to spend and invest. For our part, we have stood by customers during the most difficult periods that have followed one another in recent years and we will continue to play a leading role in supporting them also in the new context. In light of this year’s excellent performance and the changed macroeconomic framework, we confirm the decision to bring forward the revision of the Industrial Plan to next yearto relaunch our ambition to be a solid, profitable and resilient universal bank, capable of creating value for all stakeholders, maintaining its role as an accelerator of the economy”.