Ifis Bank has communicated the financial results for the 1st quarter of 2024, a period closed with a Net income of 47.18 million euros, an increase of 2.7% compared to the 45.91 million recorded in the first three months of the previous financial year. The net result of financial management rose from 165.85 million to 176.65 million euros, while the intermediation margin grew by 5.4% to 185.24 million euros, thanks to the increase in the interest margin and the positive contribution of the NPL sector for 4.8 million euros, as well as the increase in results deriving from the activity on instruments financial for 3.2 million euros.
At the end of March 2024 the total receivables from customers valued at amortized cost it was equal to 10.09 billion euros, down compared to the balance at 31 December 2023 (10.62 billion).
Also at the end of March 2024 the Common Equity Tier 1 was 14.98%, from 14.87% at the beginning of the year, based on a net worth of 1.74 billion euros. Consequently, on the same date the institution satisfied the capital requirements set by the Bank of Italy (CET1 of 9%).
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