Banca IFIS GroupNet profit of 84 million Euro in the nine monthsGrowth in retail funding. CET1 at 11,10%Results for the first nine months of 2019RECLASSIFIED DATA1: 1 January – 30 SeptemberNet profit for the period: 84 million Euro compared with 89 million Euro in the first nine months of 2018. The change was affected by the natural decline of the “PPA reversal”2;
Net banking income: 391,2 million Euro (-3% on the period ended 30 September 2018);
Net impairment losses: 49 million Euro (68,9 million Euro for the period ended 30 September 2018);
Operating costs: 212,4 million Euro (+1,7% on the period ended 30 September 2018);
Direct funding: up to 4.949 million Euro (+11,9% on 31 December 2018), confirming the Bank’s solidity and its ability to attract retail customers;
NPL collections: 182,6 million Euro (+45% on the period ended 30 September 2018), confirming the Group’s recovery expertise.
Capital requirements with consolidation within La Scogliera3:
CET 1: 11,10% reached (+0,8% vs. 10,30% at 31 December 2018) excluding profit for the third quarter and thanks to organic growth alone. CET1 remains well above the SREP requirement of 8,12%; TCR: 14,84% (14,01% at 31 December 2018) towards a SREP requirement of 12,5%.
 Capital requirements without consolidation within La Scogliera3,4:
CET1: 14,66% (13,74% at 31 December 2018); TCR: 19,25% (18,20% at 31 December 2018).
1 Net impairment losses on receivables of the NPL Segment were entirely reclassified to interest receivable and similar income to present more fairly this particular business, as they represent an integral part of the overall return on the investment. 2 The term “PPA reversal” refers to the reversal over time of the difference between the fair value as measured in the business combination and the carrying amount of the receivables of the former GE Capital Interbanca Group, acquired on 30 November 2016. 3 Common Equity Tier 1, Tier 1 Capital, and total Own Funds included the profits generated by the Banking Group at 30 June 2019 net of the estimated dividend. 4 Consolidated own funds, risk-weighted assets and solvency ratios at 30 September 2019 were calculated based on the regulatory principles set out in Directive 2013/36/EU (CRD IV) and Regulation (EU) 575/2013 (CRR) of 26 June 2013, which were transposed in the Bank of Italy’s Circulars no. 285 and no. 286 of 17 December 2013. Article 19 of the CRR provides for the prudential consolidation of Banca IFIS in the Holding La Scogliera. For the sake of disclosure, we calculated the same indicators without including the effects of the consolidation within La Scogliera. Therefore, the reported total own funds refer only to the scope of the Banca IFIS Group, thus excluding the effects of the prudential consolidation within the parent company La Scogliera S.p.A.                                                         

.Mestre (Venice), 7 November 2019 – The Board of Directors of Banca IFIS met today chaired by Sebastien Egon Fürstenberg and approved the results for the first nine months of 2019.

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