The illimity Bank board of directors approved the financial statements as at 31 December 2022, confirming the already approved preliminary results.
The 2022 results show a further improvement in profitability combined with a contained risk profile, high capital solidity and a robust liquidity position. Consolidated pre-tax profit amounted to 100.9 million euros (+25% y/y), with a net profit of 75.3 million euros, up 15% y/y, which highlights a ROE of 9%. The operating result increased to 131 million euros (+18% y/y), despite the important investments for the launch of the tech initiatives, driven by the growth of both the net interest income (+22% y/y) and the net commissions (+73% y/y). Volumes of loans to customers and investments reached 3.8 billion euros (+37% y/y), thanks to strong business origination in all business divisions. Credit quality remained at excellent levels with an organic NPE ratio of 1.4% and a cost of risk of 30 basis points. The capital position remained very solid, with a phased-in CET1 ratio of 15.8%.
The board of directors proposed allocating the first dividend distributed by illimity, proposed for a unit value of 0.1801 euro, or 18.01 cents, for a total of 15,064,483.95 euro (20% dividend payout on consolidated net profit). The dividend will be paid on May 24, 2023 (payment date).
With reference to the foreseeable evolution of operations, illimity confirms the guidance of 100 million euro of net profit in 2023 and a net profit of approximately 200 million euro in 2025.