Banca Ifis posted an ordinary profit of 4.6 million in the first nine months, but write-downs led to a loss of 67 million
Banca Ifis closed the first nine months of the year with a profit from ordinary operations of €4.6 million; however, this figure turned into a loss of €67 million due to a write-down of approximately €72 million resulting from the application of IFRS 5 to its NPL business.
This is evident from the accounts approved by the bank, which – despite undergoing an accounting clean-up – has confirmed its net profit guidance for the full year 2026, which remains between 100 and 110 million euros. This figure includes approximately €70 million in deferred tax assets (DTAs), although it does not take into account the effects of the sale of the NPL business, which is at an advanced stage and is expected to be finalised by mid-December.
On this very front, the competitive process for the sale has entered its final stages, with three proposals on the table and binding offers expected by mid-December. Meanwhile, in the first nine months of the year, the NPL business generated revenues of €131 million, whilst recoveries from debt collection activities, net of portfolio disposals, totalled approximately €280 million. This performance, the bank emphasises, ‘highlights the effectiveness of recovery activities, both judicial and extrajudicial, and confirms the operational resilience of the NPL platform, even against a backdrop of greater selectivity in acquisitions and the gradual repositioning of the business’.
On the commercial front, lending to businesses and private individuals exceeds 10 billion euros. In the first nine months, new disbursements in Structured Finance totalled around 400 million euros, to which a further 400 million in new business in the salary-backed loans sector (CQS). Revenues from the commercial business remained broadly stable compared with the same period in 2025.
The CET1 ratio stands at 12.8 per cent, already incorporating the impact of the impairment of the NPL business as required by IFRS 5, but without taking into account the potential capital benefits arising from its deconsolidation. Net credit risk impairment charges amount to €115 million, of which €38.2 million relates to the credit cost of the Illimity Group.
