The Board of Directors of Credem, chaired by Lucio Igino Zanon di Valgiurata, today approved the consolidated results as at 30 June 2021. The half year ended with a Net income consolidated amount of 136.4 million euros, an increase of 75.1% compared to the end of June 2020. The figure is positively influenced by the recovery in value of provisions on loans and also discounts 23.9 million euros, gross of the effect tax, contributions to funds to support the management of banks in difficulty and € 16.8 million of integration costs for the merger with Cassa di Risparmio di Cento. The annualized Roe stands at 8.8%.
Credem’s general manager, Nazzareno Gregori said: “The banking system has proven to play a key role in supporting the country during the pandemic and in the recovery phase. In the first part of the year, we resolutely continued to do our part to help the economic and social fabric to overcome this delicate moment with loan growth far superior to the system. We are actively committed to protecting and enhancing the savings of families with careful advice to the changing market context. We have supported businesses by accompanying them in the digital transformation which is an essential element of competitiveness, while simplifying the dynamics of interaction with the bank. We will continue in the coming months with investments in people, training and digitalization, continuing our development path oriented towards the sustainability of the business model “.