12M RESULTS 

“V-SHAPE” RECOVERY IN GOP AFTER COVID GROWTH DELIVERED DISTRIBUTION POLICY RESUMED

Business model resilience and diversification with no compromise on growth initiatives and asset quality, paved the way for a record year in terms of revenues and “V- shape” recovery in profitability

Revenues at all time high level €2.6bn (up 5% YoY) driven by
increased WM size & profitability, robust CIB activity
offsetting Consumer Banking slowdown due to lockdowns

Record fees (€745m, up 18%) and resilient NII (€1.4bn)
Material decrease in cost of risk, stabilized at 52bps (down 30bps vs. 82bps FY20)
Strong GOP risk adjusted (€1.1bn, up 20%), back to 2019 pre-Covid level
Net profit up 35% to €808m, EPS up 34% to €0.91

High profitability (ROTE @ 9%) on healthy capital ratio (CET1¹ phase in @16.3%, FL@15.1%)
and growing shareholders’ funds (TBVPS up 10% to ~€11)

Shareholders’ remuneration resumed²: DPS at €0.66 70% cash pay-out accrued, cancellation of up to 22.6m treasury shares already owned and new buyback3 (up to 3%)

M&A in WM ongoing
Bybrook acquired, active scouting

Il tuo browser non è aggiornato!

Aggiornalo per vedere questo sito correttamente.

IT’S TO SAVE ENERGY!

This screen means your monitor consumes less energy when your computer is idle

Just move your mouse to start browsing again