- CREDITI FISCALI
Banca IFIS celebrated its 30th anniversary in style with excellent results, all the more significant considering they were achieved against a challenging economic and social backdrop.
The credit industry saw significant tensions, with banks curtailing loans for regulatory and risk-related reasons, and thus negatively affecting lending to companies and households.
For businesses, especially small-sized ones, the credit crunch has had serious consequences, impacting employment and income levels for all those involved, i.e. entrepreneurs, employees, and suppliers.
For households, even though their savings are high on average, dwindling income caused spending to contract further and, increasingly, indebted people to default on their obligations.
The Bank’s support for companies on the one hand, and struggling households on the other, is intended to demonstrate confidence in Italy’s ability to recover; make the Bank’s lending capacity available to the real economy; and show its ability to make an impact where the market needs it the most.
In 2013, Banca IFIS underwent important changes which will have a further positive impact in the future.
A renewed and strengthened organisation, especially as far as risk control and management are concerned; the development of new and sustainable methods for managing household lending; and new ways to lend responsibly to small companies – these are just some of the indicators of the Bank’s propensity to innovate.
We enter 2014 with an excellent level of equity, allowing us to continue with our policy of distributing dividends – something I believe all our shareholders appreciate – as well as further support the economy; abundant liquidity; strong profitability; and outstanding asset quality, considering the economic situation, and which we hope to improve further.
The market appreciates the Bank's position, as shown by the 134% rise in the share price during the period, the interest of Italian and international investors, and the gradual consolidation of the dialogue between the Bank and all shareholders – a dialogue we wish to expand further.
I believe we can be satisfied with our progress as well as our prospects.
On this 30th anniversary, I wish to give special thanks to all the staff that have made it possible to build this Bank, which is now a reference for us all and an asset for Italy.