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Credem, net profit in the first 9 months of 2019 soars to €158 million
> 08 November 2019

Credem has posted a consolidated net profit of €157.7 million (+ 4.4% YoY compared with 2018) in the first 9 months of 2019, with an annualized ROE at 8% and a CETI Ratio at 13,7%. The ratio of the amount of nonperforming loans in the bank's loan portfolio to the total amount of outstanding loans (NPL ratio) is also good, at 4.3% and «among the lowest in the industry, compared to 8% of the Italian banks’ average».

Nazzareno Gregori, Credem General Manager said: "Customers’ financial wealth, innovation and sustainability: these are the three operational levels at which we are investing so as to grow our service model since we strive to become the main point of reference for families and enterprises committed to managing and protecting their assets. Innovation is indeed a key element to compete in today’s and tomorrow’s competitive environment: that’s why we invested in many initiatives to spread the innovation culture within the Group. The positive Group results approved today show the effectiveness of our business model, which is constantly evolving thanks to the essential contribution of all the people who work in the Group. We will maintain a strong focus on the development of bancassurance, corporate services and wealth management, with a great attention to the enhancement of ESG criteria in the investment process, new thematic and private market funds and to the development of the independent consultancy services."

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