Banca IFIS (IF) investor relations material

Executive summary

• 9M26 net banking income was €571.0m; parent-attributable net loss was €67.3m after a €71.8m IFRS 5 NPL write-down, while ordinary-operations profit was €4.6m.

• Commercial revenues were broadly stable YoY; new lending to SMEs and individuals grew 23% in 9M, exceeding €10bn.

• Transformation priorities include the NPL disposal, regulatory remediation, asset-quality improvement and illimity integration.

Financial highlights

• 9M net banking income was €571.0m, including €391.8m net interest income, €99.0m net commission income and €80.3m other income.

• Net credit risk losses were €115.0m, including €38.2m from illimity; excluding illimity, losses were €76.8m versus €23.5m in 9M25.

• Operating costs were €435.9m, including €116.0m from illimity; excluding illimity, costs rose 5.1% YoY to €319.9m.

• Consolidated 3Q26 total revenues were €164.5m and parent-attributable net loss was €75.1m, including the €71.8m IFRS 5 adjustment.

• 9M26 reported loss compares with €472.3m profit in 9M25, which included a provisional €400.4m bargain-purchase gain on illimity.

Outlook and guidance

• FY26 net profit guidance remains €100m–€110m, including ~€70m of DTA recognition and excluding potential NPL-sale and Bank of Italy inspection impacts.

• Binding NPL offers are expected by mid-December 2026; transaction economics and FY26 profit impact depend on completion, structure and terms.

• illimity merger is scheduled for 7 December 2026; €50m annual cost synergies are secured and revenue initiatives target €25m from 2027.

• Regulatory response and implementation plans are due by November 2026, with remaining remediation targeted for completion by June 2027.

• A new business plan is expected after key strategic milestones, including the NPL process and SREP requirements; presentation is expected in early 2027.