illimity Bank SpA ( (IT:ILTY) ) has shared an announcement.
illimity Bank S.p.A. reported a negative net result of 38.4 million euros for the 2024 financial year, impacted by significant extraordinary adjustments and goodwill impairments. Despite these challenges, the bank demonstrated strong operating profitability, driven by a 21% increase in net operating results and a 9% growth in the Corporate & Investment Banking sector. The bank’s strategic move to partner with APAX Partners in creating altermAInd S.r.l., a new technological player in the AI sector, resulted in a net capital gain and strengthened its technological capabilities. The bank maintains a solid capital and liquidity position, with a CET1 ratio of 13.9% and a liquidity buffer of 1.2 billion euros.
More about illimity Bank SpA
illimity Bank S.p.A. operates in the financial services industry, focusing on credit and investment banking services primarily for Italian SMEs. The company has strategically repositioned itself to concentrate on these core areas, reducing its exposure to non-performing exposures (NPE) portfolios.
YTD Price Performance: 4.62%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €288M
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