Illimity Bank SpA (MIL:ILTY)
€ 5.45 0.075 (1.4%) Market Cap: 456.86 Mil Enterprise Value: 776.00 Mil PE Ratio: 4.30 PB Ratio: 0.48 GF Score: 54/100
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Q2 2023 illimity Bank SpA Earnings Call Transcript

Aug 04, 2023 / 07:00AM GMT
Release Date Price: €5.82 (+0.52%)
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

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