Banca IFIS: preliminary results for the year 2017

Mestre (Venice), 8 February 2018 – The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien Egon Fürstenberg and approved the preliminary results for the year 2017.

“In terms of operations, 2017 was a year in which relevant attention was addressed towards internal integration processes and efficiency improvements within the individual business units, as well as through the streamlining of the corporate structure,” said Banca IFIS CEO Giovanni Bossi. “The change in the core banking system, the adoption of a new CRM system at the Group level, and the launch of new web platforms—leveraging digital innovation to improve the relationship with the customer—had a significant impact on the Group’s operations throughout the year. To make all this possible, we had to make considerable investments in human resources, providing training as well as looking for new skilled talents to join the Group.

The current market scenario and the search for new growth opportunities led the Bank to consider expanding into new business areas. The recent acquisition of Cap.Ital.Fin—which specialises in salary-backed loans—and the binding agreements entered into for the acquisition of Credifarma are aimed at providing the best possible service to more and more customers, be they individuals or SMEs.

During the year a lot of work was done in order to diversify funding sources and rationalise their cost—stressed the CEO—resulting in greater flexibility, easier access to funding, and stronger liquidity and capital ratios. Also the issuer rating received from Fitch contributed to this end. The Group’s goals for 2018 are consistent with those set for 2017: we will relentlessly seek to promote synergies, streamline operations, create value and innovate” concluded the CEO, thanking all the employees that, together with him, worked incessantly and that will continue to commit to new challenges.

Read the press release.