(Finance) – Banca Progetto, a challenger bank specializing in services for SMEs and private customers, closed 2021 with a total assets of 4.6 billion euros, a Net income of 41 million euros and a CET 1 Ratio at 20%, an improvement on total assets of 2.5 billion euros, a net profit of 21 million euros and a CET 1 Ratio of 19% recorded at the end of 2020. The institute speaks of a “turning point year “, also because it exceeded the objectives of its plan two years in advance. Improve operational efficiency: the cost / income ratio is less than 40% (63% in 2020), while the cost of risk is equal to 0.5%, with a net NPE ratio equal to about 2%.
The disbursements to businesses doubled to 2.2 billion euros, while customer-businesses exceeded 4 thousand. With regard to retail customers, in 2021 the loans granted with the employee loans amounted to over 150 million euros. There total funding through deposit accounts at the end of 2021 it stood at around 3 billion euros, mainly on retail customers, with 50,000 relationships between Italy, Germany, Spain and the Netherlands.