CheBanca! BoD's Meeting Financial statements for 1Q 2020-21 approved

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CheBanca! Board of Directors’ Meeting
Financial statements for 1Q 2020-21 approved

NNM, TFAs and revenues all growing due to strong commercial activity versus clients

Ongoing investment in distribution network Strengthening of brand identity and product offering for affluent and premier clients


TFAs increase to €28.7bn (up 3.3% in 3M) with NNM of €0.8bn (more than double 1Q 2019-20)

AUM/AUA now €12.9bn (up 3.5% in 3M)
Customer loans total €10.4bn (up 1.4% in 3M) with new loans in residential mortgage lending totalling €0.4bn


Distribution network expanded further:
894 professionals and 199 POS
Affluent relationship managers now total 472 (18 added in 3M), responsible for €0.5bn of NNM in 3M
Financial advisors now total 422 (8 added in 3M), responsible for €0.3bn of NNM in 3M


Revenues and gross profit improving materially
Revenues up 7.7% on 1Q 2020-21 to €83m,
driven by strong growth in fee income (up 22%, to €27.2m)
Costs up 5% to €63.4m, due to expansion in operations and distribution
Profit before tax up 6.9% to €13.9m

 

 

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