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Our financial results | Sella, very positive results for 2023 as growth continues

The good performance was supported by all business components, confirmation of the effectiveness of the development strategy. Banking income exceeds €1 billion
Our financial results | Sella, very positive results for 2023 as growth continues
La sede del gruppo Sella a Biella
09 Feb 24

Sella group closed 2023 with very positive and steadily growing results in its various business sectors, attesting to the effectiveness of the diversification of its revenue sources and development strategy, based on the quality of consultancy services and on technological innovation, and the fostering of an open financial ecosystem aimed at best serving the clientele and generating a positive impact on the economy and society as a whole. Despite a global economic context that is uncertain and marked by ongoing international unrest, the group in fact recorded increased banking income (+18.2%), global deposits (+16.1%), loans (+4.9%), and all business volumes. Contributing to the achievement of these results were, in particular, the group banks - Banca Sella and Banca Patrimoni Sella & C. - which reported improved profits, increased deposits, as well as a consolidated capital position (read the full Press Release)
The results as at 31 December 2023 approved today by the Board of Directors of the Parent Company Banca Sella Holding closed with a consolidated net profit of €107.5 million, up from €91.9 million in the same period last year.  Consolidated profit including the component attributable to minority interests, which are present in the shareholding structure of several group companies also to support the strategic development of their business activities, stood at €149 million (it was €109.5 million at the end of 2022).

Banca Sella closed 2023 with very positive results, reporting a net profit of €157.3 million, representing a significant increase from the €73.3 million in the previous year. The bank's ROE stood at 18.4% compared to 9.1% at year-end 2022. It further strengthened its historical financial soundness, with CET1 at 19.27% and Total Capital Ratio at 21.78% (they were 18.63% and 21.16% respectively).

Banca Patrimoni Sella & C., which specializes in the management and administration of the assets of private and institutional customers, closed 2023 achieving outstanding results - net profit, in fact, was €25.5 million, up from €14.1 million in 2022 (+81%). 

Sella group's development and growth in open finance continues through the activity of the specialist company Fabrick and its subsidiaries (Axerve, Codd&Date, dpixel, Fabrick Iberica, and Judopay, the latter acquired in May 2023), which closed 2023 with total net revenues of €54.7 million, up 14.5% from the previous year.

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