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Sella Group: positive financial results in 2023

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Sella Group: positive financial results in 2023

2023 ended on positive notes for the Sella Group, which announced a notable growth in its financial results. The financial statements show a consolidated net profit of 107.5 million euros, marking an increase of 17% compared to the 91.9 million euros of the previous year. This result underlines the solidity and effectiveness of the group’s financial management.

Furthermore, the intermediation margin reached the milestone of over one billion euros for the first time, standing at 1.015 billion with an increase of 18.2% compared to the previous year. This growth is supported by an increase in net revenues from services of 6.5%, which reached 434.6 million euros, and by a significant increase in the interest margin of 49%, reaching 534.3 million euros . This last aspect is mainly due to the commercial component and the dynamics of interest rates.

Despite an increase in operating costs of 13.8%, due to the increase in the workforce and the salary increases provided for by the renewal of the national collective agreement for bankers, the cost/income ratio showed an improvement, going from 71.6% at the end of 2022 to 68%. The cost of risk increased slightly, from 37 to 39 basis points. The net NPL ratio recorded a decrease, reaching 1.6% compared to 1.8% the previous year. Finally, the Cet1 remained solid at 13.36%.

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