Home Business Credem archives 2022 with a profit of 317 million euros

Credem archives 2022 with a profit of 317 million euros

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Credem archives 2022 with a profit of 317 million euros

Angelo Campani, general manager of Credem

Credem, the group is up by 23.4%

we it closed 2022 – according to the preliminary results approved today by the Board of Directors – with a profit of 317 million, after having spent over 60 million euros in contributions to funds for the management of banks in difficulty. “The result – underlines the group in a note – is in 23.4% growth year on year, without considering the accounting contribution of the acquisition of Cassa di Risparmio di Cento (badwill) which had positively influenced, for 95.6 million euro, the 2021 figure (352.4 million euro). Considering instead this post in 2021, the consolidated net profit is down by 10% year on year”.

Credem, the note continues, “confirms the capital solidity and asset quality which, together with the high profitability achieved, make it possible to predict the distribution of a dividend of €0.33 per share up by 10% compared to 2021. The total dividend therefore amounts to 112.3 million euro, equal to a coupon of approximately 4.18% of the security’s current valuation”. “These results reaffirm the Credem’s ability to create value and react promptly to economic changessocial and geopolitical factors that we experienced in 2022″, comments the general manager of Credem, Angelo Campani.

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