Delivery continued in Q4
Banca IFIS has released preliminary 2024 results. In Q4 24, IFIS reported stable y/y net income (at cEUR35m) with a lower top-line offset by both LLPs and cost improvements. FY24 net income figure was a touch better than guidance. In more detail, we saw improving QoQ NII and overall stable QoQ contribution of fees and other income. Cost of funding came marginally down QoQ and closed at 3.8% in Q4. CET-1 ended at 16.1% (vs 16.4% in Q3) in FY24.
A stable outlook for this ....
