Banca Finint Group, gross profit up 24% to EUR 33.2 million

Banca Finint closes the first financial year of its 2024-2026 strategic plan with all key indicators up and in line with end-of-period targets. The banking group ended 2024 with an increase in adjusted consolidated gross profit of 24% to EUR 33.2m. The group's net interest and other banking income amounted to 143.2 million, up 14%, thanks to an interest margin that rose to 27.2 million (up 33% year-on-year) due to the contribution of the development of the NPE, tax and Lombard loan purchase business; and a financial and services margin that improved 14% to 132.5 million. The most significant economic component remains net fee and commission income, which rose 10% to €105.3m from €95.4m at year-end. The parent company Banca Finint contributed to this latter result in particular, with a commission margin up 18%, driven by a significant contribution from Corporate Finance activities.

"The first year of the Plan thus marked solid results in view of the 2026 targets, thanks to the managerial skills and dedication of our people, who are our most precious capital. Decisive was our ability to support entrepreneurs and companies at crucial moments of their development processes with targeted M&A paths, generational transition management and liquidity tools," commented Enrico Marchi, Chairman of the Banca Finint Group.

The results, reads a note, reflect the group's dimensional growth, which is increasingly focused on investment banking and wealth management: at the end of 2024 it managed or advised 12.4 billion in assets (+22%), of which about 5.3 billion in asset management, 4.1 billion in private banking and 3 billion in advisory services to institutional clients. Operating expenses amounted to EUR 110.2m, an increase of 10%, but the cost-income ratio fell to 77% from 80% in 2023, due to increased operational efficiency.

"2024 marks a year of strong growth for the Banca Finint Group with excellent results that confirm the validity of our strategy," commented Lucio Izzi, CEO of the Banca Finint Group, continuing: "Net interest and other banking income increased by a solid 14%, supported by the positive contribution of commissions, which grew by over 10%. Profitability is confirmed at levels of absolute excellence with RoTE at 19% on a robust CET1 at 16.1%. The business model is capable of generating sustainable value, with increasing assets under management and results in line with the objectives of our Strategic Plan. Therefore, the growth path focused on innovation and greater integration of our activities continues, ready to face the next challenges and seize new development opportunities'.

With regard to the banking risiko underway in Italy, the Veneto group makes it clear that it intends to go it alone, evaluating acquisitions with which to grow in its operating perimeter and with which to 'accelerate' the plan's targets, and does not exclude the evaluation of 'transformative' operations, currently not on the table, which could be accompanied, if necessary, by a listing on the stock exchange. "At the moment we do not need to go on the stock market, we grow organically, we generate capital, we have a return on equity in line with the best on the market. Obviously if we had to finance a transformative operation we could ask the market to support it. However, this is not a current issue, but we are ready to do it if the right conditions were in place,' explains Izzi, who emphasises: 'Our desire is to grow independently, we have built a leadership position in the niches in which we operate, they are niches with high barriers to entry, and the unique talent of this bank allows us to look to a growth horizon that is entirely our own.