Cassa Centrale Banca, goes free to the new strategic plan 2024-2027
The Board of Directors of Cassa Centrale Banca approved at the end of June the Group Strategic Plan for the four-year period 2024 – 2027 and shared it with the top management of the affiliated Banks and controlled companies during the Territorial Assemblies in early July. The 2024-2027 Strategic Plan updates and develops the foundations laid by the Plan approved last year.
“In a changing and complex economic and geopolitical context, the Cassa Centrale Group confirms its distinctive identity values of cooperation, reciprocity and relationship with customers and strong proximity to the territory” – he states George FracalossiPresident of Central Bank Cashier – “In line with our path, through the new Plan we have set ourselves ambitious goals to best serve the communities we represent, with ever-improving quality services and a strong focus on sustainability.”
“Our solidity and the excellent results of this first five years of operation of the Group put us in a position to make significant investments in skills and new technologies to further develop the relationship with our Members and customers” – he declares Sandro BolognesiChief Executive Officer of Central Bank Cashier – “The directions of the Strategic Plan arise from constant sharing with the top management and specialist functions of the affiliated Banks and companies in the industrial perimeter. We want to build the future of the Group together, enhancing all the entities that compose it to continue to create value and redistribute it on the territory in a sustainable way.”
Forecasts of the global and Italian macroeconomic context
The global macroeconomic context in which the Plan is inserted remains characterized by elements of uncertainty with risks linked to the persistence of geopolitical tensions in Russia, Ukraine and the Middle East. Inflation levels are slowing down, due to the restrictive policy by the Central Banks.
The Italian context, to which the Group is most exposed, foresees an average growth of GDP of 0.7% per year in the period 2024 – 2027. Over the same period, the inflation rate is expected to decline from 2.1% in 2024 to 1.9% in 2027.
The Strategic Plan 2024 – 2027 updates the key areas of intervention envisaged in the 2023 – 2026 Plan:
1. Business Development, 2. Operational Efficiency, 3. Risk Management and 4. Enabling Factors: IT and Human Capital.
1. Business Development
- Commercial development with the aim of strengthening the Group’s ability to fully express its potential by acting on three main pillars such as the Distribution Model, Business Technology and Commercial Coordination;
- Offerta creditizia con azioni previste per innalzare il livello di efficacia dell’offerta integrata alla clientela Corporate di Gruppo e sviluppare ulteriormente le sinergie con le Società prodotto. Sono previsti inoltre plafond specifici che raggiungeranno € 2,3 miliardi nel 2027 a favore di iniziative PNRR e per la transizione green;
- [if–>Wealth Management & Bancassurance where significant growth volumes are expected in the Asset Management, Funds and Sicav and Bancassurance sectors through projects linked to the consultancy model and commercial push on insurance and investment products;
- Money with objectives linked to the continuous improvement of the quality of customer services, the relaunch of the product offering and the increase in competitiveness in the current growth market context. The initiatives, once fully implemented, will lead to recurring benefits exceeding € 50 million.
Continuation of the initiatives to evolve and expand the catalogue of services Back Officealso through greater centralization of activities, and the development of digital areas for the management of internal processes.The expansion of initiatives aimed at constant risk monitoring and ensuring compliance with the growing expectations of the Supervisory Authority continues.
Priority to the progressive modernization of the Group Core Bankingcombining overall evolution with a propensity for product integration, in order to strengthen the ability to support digital business ambitions;Further enhancement of skills and inclusive development of the Group’s human capital, promoting optimization of processes and staff development and training paths.
- CET1 ratio: 29.5%
- Uses/Collection: 72%
- Core NPL net ratio: 0.9%
- NPL Coverage Ratio: 73%
- ROE: 6.6%ROA: 0.8%
- Primary cost/income: 65%
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