Banca Finnat Euramerica S p A : The Board of directors of Banca Finnat approves the consolidated half-yearly report at 30.06.2022

PRESS RELEASE

BANCA FINNAT BOARD OF DIRECTORS APPROVES

PRELIMINARY CONSOLIDATED DATA TO 30 JUNE 2022

• NET FEE AND COMMISSION INCOME UP BY ALMOST 10% TO 86% OF TOTAL INCOME FROM PREVIOUS 77.7%
• TOTAL INCOME STABLE AT €33 MILLION FROM €33.2 MILLION AT 30 JUNE 2021
• OPERATING COSTS DOWN BY 6%, ACCOUNTING FOR 78.4% OF TOTAL INCOME DOWN FROM PREVIOUS 82.7%
• NET INCOME AT €2.3 MILLION COMPARED TO €2.8 MILLION IN THE SAME PERIOD OF 2021 (-17.5%) MAINLY DUE TO THE EFFECT OF HIGHER NET IMPAIRMENT LOSSES MADE DURING THE SIX-MONTH PERIOD
• CET 1 CAPITAL RATIO AT 33,7%

Rome, 04 August 2022 - The Banca Finnat Euramerica S.p.A. board of directors, which met today, examined and approved the Group's preliminary consolidated data to 30 June 2022.

Preliminary consolidated results to 30.06.2022

• The TOTAL INCOME was €33 million compared to €33.2 million at 30 June 2021. The performance was positively impacted by Net fee and commission income up by almost 10% on the same period of 2021, from €25.8 million to €28.3 million (accounting for 86% of Total Income from the previous 77.7%); Net interest income of €4 million, compared to €5.8 million at 30 June 2021; Dividends and similar income of €554 thousand (compared to €722 thousand at 30 June 2021); Profits on disposal or repurchase of financial assets of €826 thousand from €44 thousand at 30 June 2021. The performance was negatively impacted by €278 thousand in Net trading expense compared to Net trading income of €1.18 million at 30 June 2021

plus Net loss of €440 thousand on other financial assets mandatorily measured at fair value (compared to a loss of €329 thousand at 30 June 2021).

• Operating Costs were down 6%, from €27.5 million at 30 June 2021 to €25.8 million, accounting for 78.4% of Total Income down from the previous 82.7%.
• Equity investments generated a €210 thousand loss in the six-month period compared with a €408 thousand profit in the same period of last year.
• Group net income, taking account of the net Impairment losses for credit risk associated with financial assets charged to the balance sheet of €3 million compared to €95 thousand at 30 June 2021, fell to €2.3 million from €2.8 million at the end of the same period of 2021 (-17.5%).
• Group consolidated shareholders equity stands at €216.4 million compared to €227.2 million at 31 December 2021, with a consolidated Cet1 Capital Ratio at 33,7% (31,1% at 31.12.2021) calculated based on the transitional arrangements envisaged following the entry into force of the new reporting standard IFRS 9 and in compliance with the waiver granted by EU Regulation 2020/873 (art. 473bis, section 7bis). Without such a transitional arrangements, the consolidated Cet1 Capital Ratio would be equal to 33,6%.

Events following the end of the first half of 2022

In the period between the end of the first half of 2022 and the drafting of the consolidated financial statements, no significant events or facts have arisen that could affect the Group's economic, equity and financial position. It should nonetheless be noted that on 1 August 2022 the Bank acquired from AM Holding S.p.A. a 9.9% stake in Hedge Invest SGR S.p.A., an asset management company specialised in alternative investments.

As of 30 June 2022 there were 28,810,640 treasury shares in the portfolio, unchanged compared to 31 December 2021, corresponding to 7.9% of share capital.

* * * * *

The financial reporting manager in charge of drawing up corporate accounts (Giulio Bastia) declares, pursuant to article 154 bis(2) of the T.U.F., that the accounting information given in this press release complies with the accounting records, books and entries.

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(PURSUANT TO ART. 66 OF CONSOB RESOLUTION NO. 11971 OF 14 MAY 1999)

For further information:

Banca Finnat Euramerica S.p.A. (www.bancafinnat.it):

IR Manager:

Gian Franco Traverso Guicciardi - tel. [phone] - [e-mail]

Press office - Comin & Partners:

Giorgia Bazurli - tel. [phone] - [e-mail]

Encl. Income Statement, Statement of Financial Position, Statement of Comprehensive Income consolidated to 30.06.2022

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INCOME STATEMENT (in thousands of Euros)

	Items	H1 2022	H1 2021
10.	Interest and similar income	6,266	7,345
20.	Interest and similar expense	(2,307)	(1,556)
30.	Net interest income	3,959	5,789
40.	Fee and commission income	29,712	26,959
50.	Fee and commission expense	(1,386)	(1,135)
60.	Net fee and commission income	28,326	25,824
70.	Dividends and similar income	554	722
80.	Net trading expense	(278)	1,181
100.	Net gain from disposal or repurchase of:	826	44
	a)	financial assets at amortised cost	5	61
	b)	financial assets at fair value through other comprehensive income	821	(17)

110. Net losses on other financial assets and liabilities at fair value through profit and

	loss	(440)		(329)
	b) other financial assets mandatorily measured at fair value	(440)		(329)
120.	Total income	32,947		33,231
130.	Net impairment losses for credit risk associated with:	(2,963)		(95)
	a)	financial assets at amortised cost	(2,656)		(101)
	b)	financial assets at fair value through other comprehensive income	(307)		6
140.	Net modification gains (losses)	-	(160)
150.	Net financial income	29,984		32,976
190.	Administrative expenses:	(28,771)		(28,364)
	a)	personnel expenses	(18,984)		(19,010)
	b)	other administrative expenses	(9,787)		(9,354)
200.	Net reversals of (accruals to) provisions for risks and charges	68		130
	a)	commitments and guarantees given	1		130
	b)	other	67		-
210.	Depreciation and net impairment losses on property, equipment and investment	(1,708)		(1,699)
	property
220.	Amortisation and net impairment losses on intangible assets	(65)		(91)
230.	Other operating income, net	4,647		2,528
240.	Operating costs	(25,829)	(27,496)
250.	Net loss on equity investments	(210)		408
290.	Profit from continuing operations before taxes	3,945		5,888
300.	Income taxes	(248)		(1,780)
310.	Profit from continuing operations after taxes	3,697		4,108
330.	Profit for the year	3,697		4,108
340.	Profit for the year attributable to non-controlling interests	1,419		1,346
350.	Profit for the year attributable to the owner of the parent		2,278		2,762

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STATEMENT OF FINANCIAL POSITION (in thousands of Euros)

	Assets	30.06.2022	31.12.2021
10.	Cash and cash equivalents	136,075	115,367
20.	Financial assets at fair value through profit and loss	32,879	35,459
	a)	financial assets held for trading	7,914	9,327
	c)	other financial assets mandatorily measured at fair value	24,965	26,132
30.	Financial assets at fair value through other comprehensive income	357,367	345,869
40.	Financial assets at amortised cost	1,665,632	1,339,422
	a)	loans and receivables with banks	52,923	54,372
	b)	loans and receivables with customers	1,612,709	1,285,050
70.	Equity investments	10,174	10,385
90.	Property, equipment and investment property	18,683	19,896
100.	Intangible assets	31,102	31,089
	of which:
	-	goodwill	28,129	28,129
110.	Tax assets	12,453	9,993
	a)	current	1,070	74
	b)	deferred	11,383	9,919
130.	Other assets	45,074	38,408
	Total assets	2,309,439	1,945,888

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