Iccrea: presents a new plan, worth 688 million in 2024

From 2035, new petrol or diesel cars will no longer be sold (ANSA)

(ANSA) – ROME, JUN 17 – In the new industrial plan 2022-2024, the Bcc Iccrea group expects net profit to grow to 688 million in 2024 (+ 45% compared to 2021). This was announced by the top management of the cooperative group by presenting the new plan which also estimates an increase in ROE to 5.5% and a cost / income to 67% in 2024 (from 73.9% in 2019). The group also expects an increase in indirect deposits to 67.3 billion (+ 29% over 2021) “thanks to a significant contribution of 39.8 billion from assets under management (+ 47% over 2021) and 12.8 billion from life insurance (+ 24% on 2021) “.

The new plan also provides for the continuation of the reduction in impaired loans, also through assignments, and the improvement of credit quality. According to CEO Mauro Pastore, “the goal is to get the group completely out of a situation of excess credit risk compared to other groups”. The group will go ahead with the sale program also assisted by GACS “. According to deputy dg Pietro Galbiati, they should amount to 2.5 billion euros. Over the course of the plan, the reduction of net NPLs to 2 billion euros (-18% on 2021), of gross NPLs at 4.4 billion (-32% on 2021), net NPL ratio at 2.1% and gross at 4.5%. (ANSA).

Source: Ansa

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