(Alliance News) - BFF Bank Spa reported Thursday that it closed the first quarter with a net profit of EUR39.3 million, down from EUR48.4 million as of March 31, 2023.

Net interest income for the period stood at EUR61.1 million from EUR62.3 million in 2023.

Net interest and other banking income was EUR89.9 million from EUR103.5 million in Q1 2023.

CET 1 ratio is 13.5 percent from 17 percent in Q1 2023, Tier I Capital ratio is 18.2 percent from 22.6 percent, as is Total Capital ratio.

The loan portfolio is EUR5.5 billion, up 9.0% annually and marking a new all-time high for the company's first quarter.

BFF Bank is down more than 10 percent to EUR10.96 per share.

By Claudia Cavaliere, Alliance News reporter

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