Sella Group, net profit of 91.9 million in 2022 – Corriere.it

The Sella group closed 2022 with a consolidated net profit of 91.9 million euros, an increase compared to the 56 million euro of the same period of the previous year. This was reported by the group in a note, following the approval of the results by the BoDs of the parent company Banca Sella Holding, of the issuer of public securities Banca Sella and of the other group companies. The group confirmed “the high capital solidity, well above the required standards”. Cet1 was 13.21% and the Total Capital Ratio was 15.12% (they were 12.28% and 14.19%).

The bills

The company explains in the note: «In 2021 as a result of the capital gain obtained from the strategic operation dthe 50/50 joint venture in Hype with illimity bank, the net profit totaled 108.3 million euro. The intermediation margin grew by 130.1 million euros (+17.9%), reaching 857.9 million euros». In detail, the interest margin increased by 42.6% to 358.6 million, thanks to both the commercial component and the positive effect of inflation-indexed securities. Net revenues from services increased by 4.7% to 406.7 million euros. The net result from financial activities increased by 5.2% to 92.6 million euro, due to the positive results of proprietary trading and the transfer of tax credits.

Global funding at market value amounted to €48.7 billion, down 1.1% due to the market downturn which led to a decrease of 4.1 billion in the value of securities prices. In this context, customer confidence led to an excellent result in net inflows, positive for 3.75 billion euro. Direct deposits grew by 4.9% to 16.7 billion. Loans to support the activities of households and businesses increased by 8.5% to 10.6 billion euro.

The bank

Banca Sella closed the year with a net profit of 73.3 million euros, up 77.3% compared to the 41.4 million euro of the previous year. Roe rose to 9.1% from 5.3% in 2021. Capital solidity strengthened, with the Cet1 at 18.63% and the Total Capital Ratio at 21.16%. Loans to support the activities of households and businesses increased by 7.7% reaching 9.1 billion. The credit quality indexes are improving. The cost of credit risk was 22 bps (it was 36 bps). The net Npl Ratio fell to 1.7% (was 2%) and the gross Npl Ratio to 3.1% (was 3.8%). The Texas Ratio improved to 30.8% (was 36.2%). Global net inflows were positive by €1.4 billion, thanks to direct funding flows of €0.3 billion and indirect funding flows of €1.1 billion. Global deposits at market value amounted to 31.5 billion, down by 5.7% due to the 2.7 billion decrease in the value of securities prices following the market downturn.