Sella Group: positive results for the first nine months of 2023
Good performance confirmed in all business sectors. The banks of the Group - Banca Sella and Banca Patrimoni Sella & C. - closed the period with a further increase in their already strong capital position and growth in loans and deposits
The Sella Group closed the first nine months of 2023 with positive results underscoring sound performance in all business sectors and the effectiveness of its growth strategy based on a diversified business model. Group results as at 30 September 2023, approved today by the Board of Directors of the parent company Banca Sella Holding, recorded a net profit of EUR 105.1 million, up from EUR 88.9 million in the same period of the previous year.
The sound capital position, well above the required standards, grew further with a CET1 ratio of 13.53% and total capital ratio of 15.40% (they were 13.21% and 15.12% respectively at the end of 2022). Liquidity ratios were also well above the minimum limits: LCR at 218.95% and NSFR at 137.29% (the required threshold is 100% for both). Read the full Press Release.
The results of Banca Sella
Banca Sella reported, as at 30 September 2023, a net profit of EUR 132.5 million, up from EUR 69.1m for the same period last year. The bank's ROE stood at 20.7% (it was 11.4% in September 2022). The long-established capital solidity found confirmation with the CET1 ratio at 19.31% and the total capital ratio at 21.64% (they were 18.63% and 21.16% respectively at the end of 2022).
Banca Patrimoni Sella & C.
Banca Patrimoni Sella & C., which specialises in the management and administration of the assets of private and institutional customers, closed the first nine months of the year with a net profit of 21.8 million euros, up from 11.4 million in the same period last year. Assets under management totalled 20.4 billion euros, up 11.6% from the end of 2022. The CET1 and total capital ratio were both 13.64% (they were 11.88% at the end of 2022).