Sella Group, quarterly profit over 112 million thanks to the hype effect
Net interest and other banking income up 10.5 per cent, deposits of EUR 78.5 billion and 3.4 million customers
of Mo.D.
The Sella Group ended the first quarter of 2026 with a consolidated net profit of 112.6 million euro, more than double the 47.8 million euro of the same period in 2025, also benefiting from a positive accounting effect of 70.3 million euro linked to the full acquisition of Hype and the revaluation of the stake already held by the group. Net of this extraordinary component, profit stood at €42.3m, down from Q1 2025, penalised by a higher tax burden and higher provisions for credit risk.
Economic and Financial Performance
The net profit attributable to the parent company rose to EUR 90.9 million from EUR 38 million in the previous year. Again excluding the Hype effect, the result would be EUR 34 million. However, the operating result improved, rising by 1.3% to EUR 87.6 million, thanks to revenues increasing at a faster pace than operating costs.
Net interest and other banking income reached EUR 309.2 million, up 10.5% (+7.6% on a like-for-like basis), supported by the positive performance of the banking business, investment services, payment systems and Open Finance platforms. Net interest income increased by 7.8% to EUR 146.8m, while net income from services rose by 11.8% to EUR 132.8m, accounting for 42.9% of total revenues. The contribution from financial activities was also positive, generating EUR 29.6 million, compared to EUR 24.9 million in the previous year.
Collection and uses
Global deposits reached EUR 78.5 billion, up 15.1% year-on-year, thanks to net inflows of EUR 8.8 billion and the positive effect of the financial markets. Qualified deposits grew by 20% to EUR 35.4bn, while loans reached EUR 13.1bn (+8%), with about EUR 1bn of new loans disbursed in the quarter. Credit quality also improved, with the net NPL ratio down to 1.3% and coverage of impaired loans up to 54.5%.
The integration of Hype brought the group's total number of customers to 3.4 million, of which 1.9 million are attributable to the digital bank. The group recorded a net growth of 143,000 customers in the quarter. The strategic investment plan also continued: in the first three months of the year, Capex, excluding real estate, rose to EUR 30.3 million, allocated to technological development and the 'Make an Impact' business plan.
