Steady growth of illimity also in the second quarter 2022

August 05, 2022

Corrado Passera's editorial

CEO illimity

The results for the first half of 2022 confirm the steady growth trajectory of illimity, which in just three years has reached over 5 billion euro assets. In addition, assets under management reached around 12 billion euro also thanks to the recent acquisition of AREC.

This was also the best second quarter ever in terms of new business volumes, and the robust pipeline we are counting on lays the foundation for another excellent year of growth.

Looking at the first half of 2022, the solid performance of all the bank's Divisions and revenue growth, which rose to a new record of 159 million euro, drove illimity's earnings, which posted a net profit of 31.5 million euro. The strong growth did not affect the excellent asset quality (organic NPE Ratio of 0.9%) and capital base (pro-forma CET 1 Ratio over 17%).

We are developing and progressively launching our digital platforms that, once fully operational, will represent a significant boost to shareholder value. They will potentially be worth even more than the current market value of the whole of illimity today.

b-ilty, the first fully-fledged digital business store of credit and financial services for SMEs created to serve a huge market with an innovative subscription model, is completing its test phase (“beta phase”) and building up its commercial network

Quimmo the innovative proptech, an evolution of neprix Sales and already a remarketing leader on the judicial real estate market, has entered the open real estate market and registered 689 properties sold in the second quarter of 2022, taking the number of properties sold since the beginning of the year to over 1,250, the direct bank for retail customers, has already achieved all its targets and has recently established itself at the top of the industry in terms of service quality

HYPE, the leading Italian fintech challenger which has more than 1.6 million customers, continues to grow and reaches around a thousand new subscriptions every day

We are also proud to announce very satisfactory results on the ESG front. illimity is a sustainable native company and our commitment to ESG issues has always been as strong as our focus on business development. The results achieved in this area have been certified by the new ESG Ratings received by two of the most important and credible rating agencies, MCSI and Standard Ethics, which have already positioned us among the leading players in the entire Italian banking sector.