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Banca IFIS (IF) investor relations material
Banca IFIS Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Net profit for the first nine months of 2025 reached €472.3 million, including the first-time consolidation of illimity Bank and significant non-recurring items such as a €400.4 million gain on a bargain purchase (badwill).
Q3 2025 consolidated net income was €385 million, reflecting robust standalone profitability and significant non-recurring items from the Illimity integration.
Integration of Illimity Bank is underway, targeting €75 million in annual synergies and incurring €110 million in expected integration costs, with due diligence to be completed in Q4 2025 and a full merger targeted within 2026.
Interim dividend of €1.2 per share (total €73 million) approved, with payment scheduled for 26 November 2025.
Strategic review of non-core assets underway, including the disposal of the Hype stake to Banca Sella for €85 million, generating a 55 bps CET1 benefit.
Financial highlights
Net banking income for the period was €536.4 million, with €46.7 million from illimity in Q3; excluding illimity, net banking income was €489.7 million.
Q3 2025 consolidated net income: €385 million, including €400 million badwill, €13 million extraordinary tender offer costs, and €16 million integration costs.
Banca IFIS standalone net revenues: €139 million; commercial banking revenues: €84 million; NPL revenues: €54 million.
Illimity reported a Q3 loss of €22 million (or €11 million loss excluding non-recurring items), with return to profitability expected in 2026.
Operating costs totaled €348.3 million, including €44 million from illimity; excluding illimity, costs were €304.3 million.
Outlook and guidance
Standalone profit guidance for 2025 confirmed at €160 million, excluding extraordinary items.
Integration of illimity expected to deliver €75 million in annual synergies, with €25 million from revenue and €50 million from cost savings.
2027 net profit target reaffirmed at €250 million for the combined entity.
Funding maturities will be progressively refinanced at lower rates, leveraging over €3 billion available cash.
Net interest income expected to be down 10% in 2025 vs. 2024, but funding cost synergies of €40–50 million anticipated by 2026.
Net financial impact of illimity acquisition
What is the Group's asset perimeter strategy
Reconcile normalized vs reported profit
Quantify Q4 illimity due diligence impact
Reaffirm 2025 final dividend policy
Outlook for NII and funding cost reduction
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Next Banca IFIS earnings date
Q4 202511 Feb, 2026
Next Banca IFIS earnings date
Q4 202511 Feb, 2026
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Frequently asked questions
Banca IFIS SpA is an Italian banking institution that specializes in financial services for small and medium-sized enterprises (SMEs) and in managing non-performing loan (NPL) portfolios. The bank provides services such as factoring, leasing, and lending tailored to support the financial needs of businesses. Additionally, Banca IFIS is active in the acquisition, management, and recovery of NPLs, working with distressed assets in Italy’s credit market. Known for its niche focus, the bank aims to facilitate credit access and financial restructuring for its clients. The company is headquartered in Venice-Mestre, Italy, and its shares are listed on the Borsa Italiana.
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