(Finance) – The saddle group closed the 2022 with a consolidated net profit of 91.9 million euros, up on the 56 million euros of the same period of the previous year without considering the non-recurring items. In 2021, in fact, due to the capital gain obtained from the strategic operation of a joint venture in Hype with illimity bankthe net profit was a total of 108.3 million euros.
The intermediation margin it grew by 130.1 million euros (+17.9%), reaching 857.9 million euros. In detail, the interest margin increased by 42.6% to 358.6 million euro, thanks to both the commercial component and the positive effect of inflation-indexed securities. Net revenues from services increased by 4.7% to 406.7 million euros.
There global collection at market value it stood at 48.7 billion euro, down by 1.1% due to the downturn in the markets which led to a decrease of 4.1 billion euro in the value of securities prices. Net inflows were positive for 3.75 billion euro. Direct deposits grew by 4.9% to 16.7 billion euro. The jobs supporting the activities of households and businesses increased by 8.5% to 10.6 billion euro.
The cost of risk of credit fell to 37 bps (it was 58 bps at the end of 2021). L’Net NPL Ratio decreased to 1.8% (was 2.2%) and the Gross NPL Ratio to 3.5% (was 4.2%). The coverage ratio on non-performing loans remained stable at 49.5%, the one on non-performing loans improved to 65.7% (it was 67.1%). The Texas Ratio further improved to 27.2% (was 31.7%). The group confirmed its capital solidity: il Cet1 was 13.21% and the Total Capital Ratio was 15.12% (they were 12.28% and 14.19%).
THE revenues from new businesseslaunched starting from 2018 as part of the group’s strategic plans, rose by 3.6% to 73.3 million euros, in particular thanks to open payment and platform services, corporate and investment banking and technologies supplied to third-party companies.
The total number of customers of the group has further grown by 7%, reaching 1.2 million, to which are added the customers of Hype, considering which the increase rises to 9% to 2.8 million.