May 10, 2021 / NTS GMT
Massimiliano Belingheri - BFF Bank S.p.A. - CEO & Director
Thank you, and welcome, everybody, to the presentation of the first results with the DEPObank acquisition in our books. Giorgio will walk you through how the accounts have been constructed, given the many moving parts, but we are pleased to report good results overall. We have a reported net income of EUR 184 million, that's clearly impacted by the sizable goodwill of the acquisition. But if we strip out the exceptional, the adjusted net income for the period is 8% up year-over-year, thanks to the good performance, particularly with the transaction services business, lower cost and stronger financial income.
The credit risk of the group remains good. That's 1 year into the COVID issue. And the introduction of the new definition of default has not had an impact on our past due; actually our past due have come down compared to the reported number of last year. Importantly, we have in our books, but not accounted in our capital ratio, over EUR 190 million of accrued dividends, of which EUR 165 million come from the 2019 and 2020 results and
Q1 2021 BFF Bank SpA Earnings Call Transcript
Mar 01, 2024
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers