(Alliance News) - The board of Banca Ifis Spa announced on Thursday that it closed the first quarter of 2026 with a consolidated net profit of EUR31.3 million, compared to EUR47.7 million in the same period last year.
The intermediation margin stood at EUR216.4 million, up from EUR178 million a year earlier.
Net interest income reached EUR127.4 million, compared to EUR130.8 million in the first quarter of 2025.
Net fee and commission income amounted to EUR33.7 million, rising from EUR20.5 million in Q1 2025.
The cost of credit for the quarter was EUR10.3 million.
Total operating costs for the period reached EUR150 million, of which EUR63.4 million related to personnel expenses and EUR83.5 million to other administrative expenses. The group highlighted its continued cost discipline despite the expansion of the consolidation perimeter.
Regarding the balance sheet, the liquidity position as of March 31, 2026, stood at approximately EUR2.4 billion in reserves and unencumbered assets eligible for ECB refinancing, with an LCR exceeding 700%.
The group also noted the July 2025 placement of a EUR400 million Senior Preferred bond maturing in November 2029 with a 3.625% coupon, as well as the January 2026 issuance of a EUR400 million 10-year Tier 2 subordinated bond with a 4.55% coupon.
In the NPL sector, the group ended the first quarter of 2026 with a profit attributable to the parent company of EUR1.3 million, down EUR22.8 million compared to March 31, 2025.
Capital requirements showed a CET1 ratio of 13.71% compared to 12.95% at the end of 2025, while the Total Capital Ratio (TCR) rose to 18.97% from 15.32% on December 31, 2025.
Banca Ifis shares were trading up 2.3% at EUR23.98 on Thursday.
By Maurizio Carta, Alliance News reporter
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