2023 was an excellent year for the Bank of Cagliariclosed with an operating profit equal to more six million euros (6,061,885 euros). A share – equal to 95 thousand euros – will be used for charitable or mutual purposes, then there is the mandatory quota for the mutual fund and the remainder as a reserve for strengthening the Bank’s capital.
The shareholders’ meeting of the cooperative credit institution today approved the 2023 budget, illustrated by the president of BCC, Aldo Pavan: “Banca di Cagliari – said the president – confirms itself as a streamlined bank, close to people, with excellent results, awarded by the Banca Finanza magazine which classified us best bank in Italy among the smaller ones. In the same ranking – added Pavan – in second place, after Mediobanca, is the Iccrea cooperative banking group, of which we are part: we can say that we are quick, close to people, capable of listening, but also that we have their backs largest of the second largest Italian banking group”.
“Thanks to the growing roots in the economic fabric of the vast Cagliari area and the support of our national Group, Iccrea – underlined the general manager, Giuseppe Murgia -, the bank was able to increase credit support for families and businesses, in contrast with the trend of the system which, however, recorded a significant contraction at both a national and regional level. Our growth confirms the appreciation of customers and members for our service model – claims the general manager -, based on the direct relationship with customers. Also in this case, going against the trend, while physical branches are closing to open online ones, we are focusing on contact with our customers, who find consultants and operators at their disposal in the physical locations. And one more is about to be added shortly, in Quartu S.Elena”.
THE DATA BCC members are now 3,114, with an increase of 1.93%, just as the number of customers has grown, reaching 6,105, (+2.45%). Net loans also increased (227,135 million, +2.69%), net of the sales carried out in 2023 for a nominal amount of 9,848. First class capital and own funds reached 26,913 and 30,882 respectively, with an increase of 10.85% and 9.32%. Consequently, the coefficient called CET1 Ratio – which compares economic investments weighted with primary capital and is among the most observed indicators of banking quality – improves at the end of 2023 to 19.60%; the broader Total CR indicator stands at 22.49% – in 2021 they were 18.35% and 21.35% respectively. The increase in assets is due to the excellent economic result of 6,062, down 10.81% compared to the previous year, but expressive of a better performance as it is characterized, compared to the previous year, by more “stable” elements. The 2022 profit in fact benefited from greater interest on inflation-indexed BTPs of over 3,000 attributable to the exceptional inflationary flare-up that occurred in that year and therefore reasonably not replicable. This higher value was in fact not repeated in 2023 and yet the interest and intermediation margins both grew by 1.32% and 3.96% respectively. The cost of existing risk – equal to the sum of losses on sales and adjustments to loans – is reduced to 3,977, by 8.33%. Among operating costs, personnel expenses especially increased, mainly as a result of the hirings made.
Five hires were made during 2023 and another two were made at the beginning of 2024, so that the workforce currently stands at 46 units. “We do hiring – explained the President Pavan -, mostly young people, girls and boys who bring enthusiasm and ability. Thanks to our staff we have achieved the results that have led us to the prestigious recognition as the best minor bank in Italy and to achieving a splendid balance sheet like the one approved today by the shareholders’ meeting”.
