Sella, positive first quarter 2024 results

The Sella Group closed this year's first quarter with positive results, thanks to good performance in all business sectors while confirming the effectiveness of diversification of its revenue sources. In fact, the consolidated results as at 31 March 2024, approved today by the Board of Directors of the parent company Banca Sella Holding, recorded a consolidated profit including the component attributable to minority interests in the shareholding structure of various Group companies, also to support the strategic development of their business activities, of  €43.9 million (it was €41.8 million without taking into account non-recurring items). The consolidated net profit pertaining to the parent company is €32.8 million, essentially stable with respect to the €31.8 million posted in the same period of the previous year without considering non-recurring items (read the full Press Release).

Albeit against a backdrop of a general slowdown in demand for loans linked to market interest rates, the development of the lending portfolio was further strengthened. In fact, lending to support the activities of households and businesses grew by 1.3% (+4.1% y/y) reaching €11.2 billion in the quarter. 

The historic capital solidity has been confirmed and stands well above the required standards: CET1 is 13.03%, Tier 1 Ratio is 13.27%, and the Total Capital Ratio is 15.44% (they were 13.36%, 13.61% and 15.47% respectively at the end of 2023). The liquidity ratios are also well above the required thresholds: LCR at 215.95% and NSFR at 141.14% (they were 230.83% and 142.90% at the end of 2023, the required threshold for both is 100%). 

Banca Sella closed the first quarter with a net profit of €46.4 million compared to €41.2 million in the same period last year. The bank's ROE stood at 18.4% (it was 18.7% as at March 2023). its historic capital solidity was confirmed with CET1 at 18.99% and Total Capital Ratio at 21.37% (they were 19.27% and 21.78% at the end of 2023). Largely above the required thresholds the liquidity indicators: LCR at 279.59%, NSFR at 153.76% (the required threshold for both is 100%).