A net profit of 60-70 million in 2021, that it will rise to around 140 million in 2023 is will exceed 240 million in 2025, with a Roe respectively to 10%, 15% and 20%. Are the target of the new strategic plan 2021-2025 of Illimity, which also estimates a net worth of one billion in 2023 and of 1.4 billion in 2025, for a coefficient Cet1 always higher than 15% despite the distribution of cumulative dividends over the course of the plan for approximately 180 millioni (in case of ECB go-ahead) starting from financial year 2022.
Illimity, the CEO Corrado Passera to Affaritaliani.it: “With the end of the moratoriums, the situation is manageable. Only one part will become UTP first and then Npl “(Video interview by Marco Scotti)
On coupons, explains a note, “a flexible policy is envisaged to maximize the creation of value for shareholders, with the determination of a pay-out ratio including between 20% and 30% over the course of the plan and which will be calibrated from time to time according to the concrete availability of investments with a high return on capital “. The first dividend will be” based on the net profit of 2022 with a payout 20% “.
Illimity, Carlo Panella (head of direct banking) at Affaritaliani.it: “Builty, a platform for small businesses up to 10 million in revenues is coming” (Video interview by Marco Scotti)
The starting point of the plan, explains the release, is the Roe of 8% already achieved in the first quarter of 2021. Lincrease in profit provided by the plan is equal to one average annual progression of 51%, while I revenues will rise by an average of 30% per year, “reaching over 450 million in 2023 and about 660 million in 2025 “. The plan also provides for “a gradual rebalancing of the contribution from the interest margin from 59% in 2020 to 55% in 2025, following the gradual increase in the component of commission and other revenues”. This is also thanks to the contribution of new initiatives: neprix Sales, B-Ilty, capital markets for SMEs e illimity Sgr. B-Ilty, in particular, will be “the first complete direct bank for small businesses” and will be launched by the end of the year.
Illimity, Enrico Fagioli (head of Sme) at Affaritaliani.it: “With the public guarantee, some companies have taken the opportunity to invest” (Video interview by Marco Scotti)
Also expected further consolidation of Hype, the jv with the group Saddle, aiming to achieve the 3 million customers from the current 1.4. With this in mind, within the third quarter of this year “the new Hype will be presented, which will evolve a money management hub to cover the customer’s needs at 360 degrees. “Returning to the plan’s targets, i operating costs are expected to “grow less than proportionally with respect to revenues, with an average annual growth rate of 14% in the 2020-25 period, with an initial target of operating costs, including depreciation, of approximately 216 million in 2023 and approximately 255 million in 2025 “.
(Continued: the entry into the capital of Illimity di Ion by Andrea Pignataro at 10%)