LAMEZIA TERME The Extraordinary and Ordinary Meeting of the Members of the BCC of Calabria Ulteriore was held in Lamezia Terme, which gave the green light to the 2023 budget. The data of the first fully operational budget of the newly established BCC of Calabria Ulteriore, which also exceed the provisions of the merger Industrial Plan demonstrate and confirm the validity and strength of the aggregation project, wanted with tenacity and determination by the Governance and Members of the BCC of Calabria Ulteriore. The value of the new Bank goes far beyond the sum of the values of the individual entities participating in the merger. “This extraordinary result – comments President Sebastiano Barbanti – takes on particular relevance if we consider the difficult period that the Institute had to face both in the context of the complex merger operation that gave rise to the BCC of Calabria Ulteriore, the first merger of this extent in Italy, both during the period of judicial administration which concluded during the year with a positive outcome. The path taken so far was not at all obvious, but was made possible thanks to the principles of Cooperative Credit, based on solidarity, subsidiarity and proximity to the territory.” A management that required an enormous effort, but which the Board of Directors and the General Management of the Institute, thanks to the commitment and professionalism of all the employed staff, the trust of the Members and the support of the Parent Company ICCREA, were able to tackle with success. Key elements of this result are a strengthening of the capital profile which stands the CET1r (high quality capital) at 37.38%, a confirmation of the high level of both short-term liquidity, with the indicator an LCR at 475% , both structural with an NSFR at 138%, and a significant reduction in credit risk which records, in addition to a marked contraction in impaired assets, a coverage ratio for unlikely to pay at 71.49% and for bad debts at 90.34%. The financial year ended with a net profit of 2,270,598 euros, confirming, also from an income point of view, the validity and strength of the Calabria Ulteriore BCC project. “The financial statement results – states the General Director Marco De Lerma of Celenza and Castelmezzano – confirm the solidity of the company’s technical framework and the effectiveness of the Bank’s business model, found through the commitment to careful management of the company’s strategic decisions Governance, dedicated to constant and coherent growth for the development of the local economy and for our communities. What I would like to underline is that the important results achieved in this first year of operation are not an end in themselves, but constitute a solid basis on which to boost our service towards Members, Customers and the Territory.” A part of the Assembly was dedicated to the Members with the symbolic awarding of four of them: a Member from Cittanova, the longest-serving in terms of membership since 1956; a member from San Calogero who, at 103 years old, is the oldest member; a Member from Pianopoli who, at 20 years old, was recognized as the youngest Member; finally, a member of Cutro, a trader, awarded for being among the most operational members of the Bank. Subsequently, we proceeded with the formal obligations, including the reading of the report of the President of the Board of Statutory Auditors, who attested to the truthfulness and correctness of the financial statements, as also certified by the auditing firm EY SpA. Among the twelve points on the agenda day, the Assembly approved some statutory changes, the allocation of part of the profits for social purposes and the entry of three new members into the Bank’s Board of Directors.
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