Consumer banking

LEADERSHIP IN ITALIAN MARKET CONFIRMED
BY POSITION, INNOVATION AND PROFITABILITY
CONSOLIDATION OF PROFITABLE GROWTH
REVENUES up 3%¹ to €1.1bn
ROAC from 30% to 28-30%

The Italian market offers the following opportunities: it is less mature in Italy than in other European economies, with market shares up for grabs as the traditional banking networks reduce their footprint in this area.

Compass, by leveraging on its distinctive features (leadership position in the market, integrated distribution, efficient platform, high scoring and pricing capabilities, solid asset quality), empowering distribution significantly, direct and digital, and developing innovative products (in e-commerce especially), will lay the foundations for the growth in volumes and revenues to continue, consolidating earnings (ROAC 28-30%) and profitability despite a scenario in which the cost of risk will reflect moderate, structural growth.

[1] CAGR for 2019-23 four-year period.