Bff Bank closes first quarter with net profit at EUR 49.5m
The bank announced that Gianluca Formenton will join BFF as Chief Operating Officer
by R. Fi.
Bff Banking closed the first quarter of the year with adjusted net profit at €43.2m, up 24% year-on-year, and net accounting profit at €49.5m (+40%). Adjusted net revenue, net of €58.2m (-28%) in funding costs, amounted to €113.2m (+19%), of which €53.3m came from factoring, lending & credit management, €12.1m from securities services, €18m from payments and €29.8m from the Corporate Centre.
Adjusted total operating expenses in Q1 2026, including depreciation and amortisation, amounted to EUR 47.6m, compared to EUR 46.1m in Q1 2025. Adjusted loan losses and provisions for risks and charges of 3.3 million euro compared to 0.5 million euro in Q1 2025. The group continues to benefit from a very low exposure to the private sector. Net non-performing loans in the first quarter of 2026, excluding Italian municipalities in distress, stood at EUR 6.7m. Including earnings for the period, the bank's Cet1 ratio was 11.00%, compared to 9.86% for Srep. The total capital ratio was 13.41% compared to 13.36% for Srep.
The bank announced that the inspection by 'Bankitalia that started in December 2025 is still ongoing. It is also recalled that, following the order received from the Bank of Italy on 28 March 2026, the Bank of Italy appointed Raffaele Lener and Francesco Fioretto as commissioners to temporarily work alongside the board of directors'. The board of directors and the board of auditors 'continue to maintain their full powers and decision-making authority unchanged'.
The bank announced that Gianluca Formenton will join BFF as Chief Operating Officer.
