(Alliance News) - BFF Bank Spa on Thursday reported that in the first nine months of the year it reported an adjusted net book profit of EUR115.0 million, up 24 percent from EUR93.0 million in the same period last year.

As of Sept. 30, adjusted net income stood at EUR122.5 million, up 16 percent year-on-year and a new nine-month relative record.

For the nine months, net interest income stood at EUR194.5 million from EUR167.4 million in 2022.

Net interest and other banking income was EUR269.9 million as of September 30 from EUR259 million in the same period last year.

The group said it has maintained a strong capital position, with a Common Equity Tier 1 ratio of 15.5 percent compared to 9.0 percent at SREP. The Total Capital ratio is 20.8 percent compared to 12.5 percent under SREP. Both ratios exclude EUR40.5 million in dividends already accrued, which, if included, would bring CET1 and TCR to 17.0% and 22.2%, respectively.

Total adjusted revenues as of September 30 were EUR547.4 million, up 75% annually.

Loan portfolio is EUR5.3 billion, up 12% annually with double-digit growth in several countries.

BFF Bank trades in the red by 0.5 percent at EUR9.37 per share.

By Claudia Cavaliere, Alliance News reporter

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