Rome, February 26th, 2020 – The Board of Directors of Credito Fondiario, leading bank in Italy in the non-performing loan portfolio investments and servicing sector and parent company of the Banking Group Credito Fondiario, has approved the interim financial report and the consolidated accounting statements as of December 31st, 2019.
In 2019, the Group reported a net result equal to €40.6 million, against an intermediation margin of €94.5 million.
On December 31st, the net equity equalled € 401.4 million, whilst total assets exceed €1.6 billion.
The interest margin is positive at €53.7 million. Net commissions amount to €38.7 million, mostly due to special servicing operations.
“We are proud to show results positioning Credito Fondiario at the top of the sector, in profitability and value-generation terms,” Iacopo De Francisco, Credito Fondiario General Manager, has explained. “This year’s results are the highest in the history of the bank, which has just turned 120 years. According to a such pace of development, which we aim to further increase in 2020, our bank can rely on extremely consistent capacities and opportunities of organic growth. We are evaluating, carefully, all the opportunities the market is to offer in the next months.”
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