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Credem, 2018 preliminary results
> 11 February 2019

Credem, 2018 preliminary consolidated results: revenues and net profit up to a 10-year high.


  • Consolidated Net Profit at €205 million (+2.6% YoY)
  • Revenues up to a 10-year high at €1,157.4 million, +0.8% YoY despite the financial market turmoil and a weak economic context.


  • More than 102 thousand new customers; peak customer satisfaction at 96% according to a recent market survey;
  • Loans to Customers +3.1% YoY at €25.5 billion (vs +1.6% YoY of the industry), around +€800 million YoY in absolute value;
  • Gross Non Performing Loans Ratio (NPL Ratio) among the lowest in the industry at 4.4% compared to Italian banks’ average at 9.4%. Coverage ratios including shortfall at 64.8% on NPL and at 82.6% on Bad Loans, the highest among Italian banks supervised by ECB;
  • Direct Deposits from Customers at €23.9 billion, +5.5% YoY (vs -0.6% YoY of the industry.


  • CET1 Ratio at 12.7%, among the highest in the industry (already including IFRS9 full impact);
  • more than 500 bps buffer vs 2018 ECB minimum regulatory requirement (SREP 7.375%).

Nazzareno Gregori, Credem’s General Manager declared: “2018 was a very rewarding year for us: our outstanding results were accomplished thanks to all of the Group’s people and despite the strong financial markets turmoil and economic weakness. We continued to acquire new clients, confirming our well known growth trend, proving that we delivered high-quality services and how we effectively invested on people and product offering. Our periodical market survey highlighted that 96% of our customers values our services and the relationship we have been strengthening over the years, and it is something that fills us with pride. We pursued strategic business choices that allowed us for a sustainable growth and granted our shareholders a sound and growing profitability, also thanks to the synergies among our sales force. This path preserved our asset quality that, as acknowledged also by ECB, is among the best in the industry, and enhanced our offering to clients, in the insurance business too, in order to better meet our customer’s needs. In 2019 we will go forward with our growth strategy, with a particular focus on loans to households and corporates, wealth management, insurance and protection products and on the constant improvement of the customer satisfaction. 2019 will be a very challenging year for banking industry and for our country: we are confident to be in the best condition to face it, continuing to ensure excellence to all stakeholders”.

On February 7, 2019, Credem’s Board of Directors, chaired by Lucio Igino Zanon di Valgiurata, approved the 2018 preliminary individual and consolidated financial results.

For additional information and complete press release go to

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