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illimity Bank S.p.A. (ILTY.MI)

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  • illimity Approves Its 2021-25 Strategic Plan
    GlobeNewswire

    illimity Approves Its 2021-25 Strategic Plan

    MILAN, Italy, June 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – SIGNIFICANT AND SUSTAINABLE PROFITABILITY 2021E2023E2025E ROE110%15%20%NET PROFIT€60-70MLN€140MLN>€240MLN ROBUST CAPITAL BASE INCLUDING DIVIDEND FLOW Shareholders’ equity 1 billion euro in 2023, 1.4 billion in 2025CET1 RATIO constantly above 15%cumulated DIVIDENDS of ca. 180 million euro over the Plan horizon2 STRATEGIC ALLIANCE WITH THE ION GROUP License agreement signed for illimity’s IT platform which will generate revenue of

  • illimity Appointed as Nomad for Italy’s Alternative Investment Market: New Services Supporting Country’s SMEs To Assist in Growth Process
    GlobeNewswire

    illimity Appointed as Nomad for Italy’s Alternative Investment Market: New Services Supporting Country’s SMEs To Assist in Growth Process

    MILAN, Italy, March 10, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Borsa Italiana has appointed illimity Bank S.p.A. (“illimity” or the “Bank”) as a Nomad (Nominated Adviser), a point of contact for companies that want to raise capital to consolidate their competitive position and speed up their growth process by listing on the Italian Alternative Investment Market (AIM Italia). Nomads play a central role on the path to an AIM listing – simplified and geared to the structure of small and medium-sized enterprises – by assisting businesses wishing to open up to new opportunities for market access in order to consolidate their position and speed up their growth plans. Thanks to its appointment as a Nomad, illimity, founded with the aim of recognising and enhancing the potential of Italian companies, expands and completes its offer thanks to a dedicated Capital Markets platform for SMEs. The Bank is specialised in this segment and, through its SME Division, already provides services aimed at supporting the development and transformation plans of the companies it assists. illimity provides equity and debt capital markets services as part of its specific Capital Markets platform for SMEs, acting as a Nomad and global coordinator for IPOs and arranger for debt instrument issues. The platform offering will be managed by a dedicated team of professionals led by Fabiano Lionetti (Head of Capital Markets & Treasury) and Salvatore Genovese (Head of Capital Markets Unit), reporting directly to Francesco Mele (CFO & Head of Central Functions). Corrado Passera, illimity’s CEO, commented: “Becoming a Nomad will enable us to further enrich the services we provide for high-potential companies by assisting them in their growth and innovation projects. There is still great untapped potential in a very large number of Italian SMEs, and illimity intends to make every effort to enhance it”. For further information: Investor RelationsSilvia Benzi: +39.349.7846537 - +44.7741.464948 - silvia.benzi@illimity.com Press & Communication illimity Isabella Falautano, Francesca D’AmicoSara Balzarotti, Ad Hoc Communication Advisors+39.340.1989762 press@illimity.com+39.335.1415584 sara.balzarotti@ahca.it illimity Bank S.p.A. illimity is the high-tech banking group founded and headed by Corrado Passera that was created with the aim of responding to specific market needs by way of an innovative and specialist business model. More specifically, illimity extends financing to high-potential SMEs, purchases distressed corporate loans and services through its platform, neprix, provides digital direct banking services through illimitybank.com and, with illimity SGR, over the next few months will set up and manage the first Alternative Investment Fund for corporate loans. The story of the illimity Group began in January 2018 with the launch of the special purpose acquisition company SPAXS S.p.A., which ended with a record 600 million euro being raised on the market. SPAXS subsequently acquired Banca Interprovinciale S.p.A., with the resulting merger between the two giving rise to “illimity Bank S.p.A.”, which has been listed on the Italian Stock Exchange since 5 March 2019, (ticker “ILTY”), firstly on the MTA platform and since September 2020 on the Star segment. The banking group, headquartered in Milan, can already count on over 600 employees and had assets of over 4 billion euro in its balance sheet at the end of 2020. Wire Service Contact:InvestorWire (IW) Los Angeles, Californiawww.InvestorWire.com212.418.1217 OfficeEditor@InvestorWire.com

  • ILLIMITY Ends 2020 With a NET PROFIT of 31 Million Euro (From 16 Million Euro Loss in 2019)
    GlobeNewswire

    ILLIMITY Ends 2020 With a NET PROFIT of 31 Million Euro (From 16 Million Euro Loss in 2019)

    Equal to an ROE1 of 5.5% above Post-Covid Guidance figures Solid growth prospects for 2021 volumes and profits confirmedAppointment of two new non-executive independent directors Strong increase in net customer loans and investments (+35% over end 2019) to 2.2 billion euroAssets of 4.1 billion euro (3 bln at 31 December 2019) including liquidity of around 980 million euroRobust capital base with a CET1 Ratio of 17.9% (18.4% pro-forma)Significant growth in profits expected in 2021 MILAN, Italy, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Chaired by Rosalba Casiraghi, the Board of Directors of illimity Bank S.p.A. (“illimity” or the “Bank”) yesterday approved the illimity Group’s results at 31 December 2020. Despite the difficult situation caused by the COVID-19 pandemic, illimity has fully met the results contained in its earnings guidance announced at the end of the first half year, reporting a net profit of 31.1 million euro for the year as a whole (a loss of 16.1 million euro in 2019) and already achieving an ROE(1) of approximately 5.5% in the Bank’s first full year of operations. The fourth quarter provided a significant contribution to the annual results, posting a pre-tax profit of 8.3 million euro, despite investments were made in new strategic projects whose positive effects will only be felt in future years. The main driver of growth for profits during the year was the positive dynamic of net customer loans and investments, which amounted to 2.2 billion euro at 31 December 2020, a rise of 35% over the figure of 1.6 billion euro at the end of 2019, with the total representing an increase of 20% over the balance at 30 September 2020. All the Bank’s business lines contributed to this rise in volumes. In the SME Division, net customer loans climbed by 55% over the figure at the end of December 2019 to reach 817 million euro at 31 December 2020 (representing an increase of 19% over the end of September 2020). The new business generation underwent an acceleration from the summer and also continued vigorously in the last part of the year, with all sectors making a positive contribution – Factoring, Crossover & Acquisition Finance and Turnaround – benefiting among other things from the strong demand for the loans with public guarantees introduced by government decrees issued as a consequence of the pandemic crisis. Volumes in the DCIS Division rose by 30% in 2020 to reach 1,308 million euro, with an acceleration in the generation of new business taking place in the last part of the year, further emphasising the seasonality typical of this sector which sees transactions in distressed credit concentrated in this period. Also in the fourth quarter 2020, the Bank continued its dynamic portfolio management strategy in place, which led to further gains from asset disposals and closed positions for 13.2 million euro. illimity’s asset quality continued to be solid: loans to corporates in the SME Division did not suffer any notable deterioration. At the end of 2020 gross organic non-performing loans therefore remained constant at 37.4 million euro, almost entirely relating to the business portfolio of the former Banca Interprovinciale network, and the ratio with total gross customer loans fell to 3.2%, compared to the September 2020 figure of 3.8% and 4.2% at the end of 2019. Direct funding taken with the Bank’s retail and corporate customers reached approximately 2.4 billion euro at 31 December 2020, a rise of 44% over the figure at the end of 2019 (and an increase of 22% over the end of the third quarter of 2020), with all funding channels making an important contribution. Within this total, funding by the direct bank illimitybank.com exceeded 1 billion euro at the end of December 2020, representing 48% year-on-year growth. illimity made its debut on the bond market in December with the issue of its first senior preferred bond of 300 million euro, which has a 3-year maturity and pays interest at 3.375%. Liquidity consisting of cash, the net interbank position, high-quality liquid assets and other marketable securities – that will serve the business growth planned for 2021 - remained at excellent levels, also as the result of the bond placement, and rose to approximately 980 million euro at 31 December 2020 (700 million euro at 30 September 2020). Taken overall, illimity’s total assets reached 4.1 billion euro at 31 December 2020, compared to 3 billion euro at 31 December 2019. As the result of the significant increase in business, risk-weighted assets (RWAs) stood at 2,851 million euro at the end of 2020, a rise of 32% compared to the same period in 2019. Lastly, CET1 capital rose to 509 million euro at the end of December 2020 compared to 478 million euro at 30 September 2020 (462 million euro at December 2019). The main contributions to the increase over the quarter came from the more favourable treatment of the intangible asset related to the software resulting from the implementation of the “Banking Package”, net profit for the quarter, the substantial disappearance of the negative mark-to-market position of the securities portfolio and the utilisation of deferred tax assets. These factors led the continuation of a robust CET1 ratio, which ended 2020 at 17.9%. On the basis of unchanged assets, the Bank’s pro-forma CET1 ratio, meaning that including special shares of 14.4 million euro, stood at 18.4%. With a net profit of 31.1 million euro for the full year, the Bank’s profitability (measured by ROE2) amounted to around 5.5% in its first year of full operations. Corrado Passera, illimity’s CEO, commented: “illimity has fully met the results for the year included in its earnings guidance, guaranteeing shareholders a Return On Equity (ROE) of 5.5% despite the challenging economic situation created by the pandemic. The Bank has never once interrupted its growth path in this difficult situation and has also invested in new strategic initiatives whose positive effects will become visible in future years. Alongside the resilience of its economic and capital results, illimity also made important strategic and operational progress in the year that allows us to look to the future with optimism: from entry into the UTP portfolio market – winning one of the most important bids in the sector – to the launch of Open banking and the joint venture in HYPE. In 2021 we will continue to grow together with our customers and are expecting to see a significant increase in our results, despite the costs we will have to incur and the investments required for the development of new projects and the completion of the build of the new paradigm bank that we have promised our investors.” For further information: Investor RelationsSilvia Benzi: +39.349.7846537 - +44.774.1464948 silvia.benzi@illimity.com Press & Communication illimity Isabella Falautano, Francesca D’AmicoSara Balzarotti, Ad Hoc Communication Advisors+39.340.1989762 press@illimity.com+39.335.1415584 sara.balzarotti@ahca.it ______________________________________________________ 1 Return on Equity calculated as net profit for the period divided by average shareholders’ equity (1/1-31/12/2020) 2 Return on Equity calculated as net profit for the period divided by average shareholders’ equity (1/1-31/12/2020)