Aug 04, 2023 / 07:00AM GMT
Operator
Good morning. This is the Chorus Call conference operator. Welcome, and thank you for joining the illimity's second-quarter 2023 results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Corrado Passera, Chief Executive Officer of illimity Bank. Please go ahead, sir.
Corrado Passera - illimity Bank SpA - Founder and CEO
Thank you. Good morning. Welcome to illimity first-half 2023 results.
Let's start with the highlights on slide 2. We observed a robust increase in our first-half profitability, despite unforeseen market challenges. Some of the external challenges that affected our first-half results are expected to be short lived. We confirmed our solid capital position and highly robust liquidity profile, further strengthened by retail deposit growth.
Our SME lending business had a very strong performance in both volumes and profitability. Our distressed credit division has effectively defended its net interest income, despite the higher cost of funding amid an exceptionally soft
Q2 2023 illimity Bank SpA Earnings Call Transcript
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