(Finance) – Bank of Lucca and the Tyrrhenian Sea (belonging to the private and independent banking group La Cassa di Ravenna) closed the 2023 financial year with a Net income equal to 1.87 million euros (+20.5%). The company states that “the data for the year are largely positive and growing, despite the persistence of a particularly difficult economic situation”.
The intermediation margin it grew to 12.8 million euros (+3.55%); the gross operating margin, including particularly prudent credit risk adjustments, increased to 2.82 million euros (+21.60%) despite including the additional costs for the bailouts of competing banks.
There direct collection grew by 5% to 426.5 million euros and indirect collection by 15.3%, reaching 260 million euros. The customer loans they were essentially stable during the year, standing at 390 million euros.
The Board of Directors has decided to propose to the next meeting to set aside 1,165,000 euros to the optional unavailable reserve and to distribute a dividend equal to 1.55 euros per share for a total of 612,721.20 euros.
(Photo: Towfiqu barbhuiya on Unsplash)