(Alliance News) - illimity Bank Spa announced Friday that it has approved results for the first half of the year in which it posted a 66 percent increase in net profit to EUR52.2 million from EUR31.5 million in the same period last year.

Net interest income stood at EUR97.7 million as of June 30 from EUR74.1 million and up 32 percent from 2022.

Net interest and other banking income amounted to EUR204.2 million, up 28 percent from EUR159.0 million.

The liquidity position remains robust and growing at around EUR1 billion with an LCR at 276%, above regulatory minimums.

As of June 30, the bank's assets stood at EUR6.7 billion up 31% from the same period a year earlier when they stood at EUR5.12 billion.

The CET1 Ratio phased in of illimity in June stood at 15.4 percent, 15.4 percent fully loaded.

The Total Capital Ratio phased in, which also includes in total regulatory capital the EUR205 million Tier 2 subordinated bond, stood at 19.9 percent, 19.7 percent fully loaded.

The Liquidity Coverage Ratio at the end of June stands at about 276 percent, confirming an important liquidity buffer, and the Net Stable Funding Ratio stands at 116 percent significantly above regulatory minimums.

The company signaled that it confirms expectations for a net profit in 2023 of more than EUR100 million.

On Thursday, illimity Bank closed down 2.0 percent to EUR5.78 per share.

By Claudia Cavaliere, Alliance News reporter

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