BFF Bank S.p.A. (BFFBF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to the BUSF Banking Group's first quarter 2025 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your touch-tone phone. To withdraw your question, press star and two. Please note this event is being recorded. I would like to turn the conference over to Mr. Massimiliano Bellingeri, Group CEO, and Giuseppe Sica, Group CFO. Please go ahead, gentlemen. Hi, everybody. Thanks for joining us today for the reporting of first quarter results. There are still more important events happening in Rome. I appreciate that you are here with us listening to our results. We are pleased to report a good start of the year. in any respect, with adjusted net profit of 35 billion, which reminded our target despite the high rescheduling of the taxing portfolio, which is revenue deferred and will be recovered in the following quarters. Taxing has a strong start of the year, with profit before tax up 9% year over year, and long book, which has grown at 5% year over year. is the index in growth, with double-digit growth of 10% plus, and we report the highest level of volumes At the same time, because we didn't collect as much in terms of IPIs what we used in the first quarter, we continued to accumulate our off-dash reserves. We had an increase of over 81 million compared to June when we changed the accrual account. The strength of the business continues also in terms of liquidity. We have 8.5 billion of deposits and a number-to-deposit ratio of 68%. On the important issue of PADU, we continue our work to reduce the stock of ...