Q1 2019 Banca Farmafactoring SpA Earnings Call Transcript
Thank you, everybody, for joining us today for the first quarter 2009 (sic) [2019] results report.
We report a strong growth in net income and profitability with adjusted net income growing at 10% year-on-year and a 36% adjusted return on tangible equity. This has been done despite a lower collection level of LPI, which has generated in turn a higher balance sheet LPI and reserve of EUR 378 million. Interest income also has grown at 5% year-on-year. And operating costs continued to improve with operating costs over loans declining to 1.87%.
Growth in loans year-on-year has been strong up 20%, and the international portfolio is at 34% before we consider the impact of the acquisition of IOS Finance in Spain. Funding base remained solid, and we ran a good liquidity position.
Capital ratios are strong with total capital at 15.6% and Core Equity Tier at 11.1%. That excludes the EUR 21.4 million of reported net income for the period, which would clearly increase otherwise the ratio and include the mark-to
| 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... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
