Banco Desio, 9-month profit grows by double digits

Banco Desio 9 month profit grows by double digits

(Finance) – Desio Bank register a consolidated net profit of the first 9 months of 2024 equal to Euro 116.4 million, an increase of 20.9% on
ordinary performance (-48.4% also taking into account the extraordinary items of the first 9 months of 2023, equal to Euro 130.8 million).

Growth of revenues (+11.5%) with interest margin (+10.0%) and net commissions (+8.6%) increasing; cost of risk resistance equal to 22 bps vs 36 bps in the first 9 months of 2023.

ROE annualized at 11.7% and Cost income ratio at 54.9%.

Loans to customers ordinary at 11.7 billion euros (+0.1% compared to YE 2023) with further disbursements to families and businesses during the reference period for 1.5 billion euros; Direct collection increasing by Euro 14.9 billion (+0.6%); Indirect funding equal to Euro 22.0 billion (+9.7%, of which ordinary customers increased by 10.2%).

Stable incidence of impaired loans: gross NPL ratio at 3.3% and net at 1.8% (equal to 3.3% and 1.7% respectively in YE2023).

Further strengthening of 48 bps with CET1 at 17.67% and TCR at 18.45%.

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