(Finance) – Cassa Centrale Banca has announced the preliminary data for 2021which confirm the ability of the Group and the 71 Cooperative Credit Banks, Casse Rurali and Raiffeisenkassen to grow at an economic and patrimonial level to play the role in support of the communities.
“Also in 2021 the Cassa Centrale Group confirmed its attention to the people and communities of reference, in line with the mission and social function of mutual credit cooperation”, explained the President Giorgio Fracalossialso referring to the “difficult situation that has arisen with the recent outbreak of the conflict in Ukraine”.
The 2021 consolidated income statement closes with a net profit of 333 million of Euro, up by 36%, while the Parent company record a net profit of 46 million of Euro, up by 28%. The commissions net are increased by 9% to 717 million euros, exceeding the budget targets, despite the fact that 2021 was still a year strongly influenced by the Covid-19 pandemic.
“The 2021 results confirm the efficiency and solidity of our Group in a year that is still heavily affected by the impacts of the pandemic”, he comments Sandro BolognesiChief Executive Officer and General Manager of Cassa Centrale Banca, adding “thanks to a CET1 ratio of 22.6% and the earning capacity demonstrated in these first three years, we intend to continue on a path of independent growth in the medium-long term, monitoring the evolution of the world economic context and the repercussions of the war scenario in the heart of Europe “.
The Cassa Centrale Group also recorded an increase in overall collection which attests to 99.8 billion Euros (+ 9%). The component of direct deposits increased on an annual basis by 4.5 billion (+ 7%) and indirect deposits by almost 4 billion (+ 13%) thanks to the significant contribution of assets under management (+ 25%) and insurance (+15 %) which represent 66% of total indirect deposits.
Loans to customers increased by € 48.7 billion (+ 5.6%). Positive reduction of the Group’s gross NPL ratio from 6.1% in 2020 to 5.5%; the average coverage on impaired credit rises to 73.6%, the net NPL ratio stands at 1.5%.