101First nine months of 2016: 1 January – 30 September
3rd quarter 2016: 30 June – 30 September
Comment on operations
Mestre (Venice), 10 November 2016 –
The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien Egon Fürstenberg and approved the interim financial report for the first nine months of 2016.
“We are very satisfied with the Non-Performing Loans segment – said Giovanni Bossi, Banca IFIS CEO – It is proving to be capable of seizing opportunities in a constantly evolving market. In this sector, it is crucial to swiftly adopt innovative solutions, ensuring the entire process is always efficient. In the trade receivables sector, which is the Bank’s core business, we continue the strategy of refocusing on smaller-sized but more profitable market segments. The number of corporate customers is rising sharply. We are waiting – added the CEO – for the authorisation from the Supervisory Authority to complete the acquisition of GE Capital Interbanca. We have made significant progress on the analyses required to achieve a smooth integration: we believe we will be efficient starting from the closing date”.
1 Net value adjustments on DRL receivables, totalling 23,6 million Euro at 30 September 2016 compared to 3,0 million Euro at 30 September 2015, were reclassified to Interest receivable and similar income to present more fairly this particular business, for which net value adjustments represent an integral part of the return on the investment.
2Total own funds here specified refers only to the Banca IFIS Group perimeter, which excludes the effects of the consolidation, for prudential purposes, of the parent company La Scogliera S.p.A. Common Equity Tier 1 capital includes the profit for the period net of estimated dividends. In the financial charts attached to this press release it is available also the own funds data comprehensive of these effects.