(Alliance News) - Generalfinance's board of directors on Monday approved its interim report for the first three months of 2024, which shows a net profit of EUR4.9 million, up significantly with more than 66 percent compared to the same period in 2023.

Net interest income stands at EUR2.6 million, up 50 percent compared to the same period of the previous year, thanks to the growth in loans disbursed and the positive effect generated by the renegotiation of factoring contracts with respect to the evolution of Euribor rates.

Net commissions amounted to EUR8.0 million, up from EUR6.0 million in the first three months of 2023, with a positive delta of 32 percent.

"In this respect, the dynamics of commission income is affected by the particularly positive evolution of turnover - up 23 percent - compared to the same period of the previous year," the company note reads.

Net interest and other banking income amounted to EUR10.6 million, registering an increase of 36 percent.

Generalfinance's capital ratios -- including pro forma earnings for the first quarter of 2024 net of expected dividends -- reported the values of 16.1 percent for CET1 ratio, 16.1 percent TIER1 ratio, and 18.1 percent for Total Capital ratio.

Generalfinance closed Monday's session flat at EUR10.40 per share

By Maurizio Carta, Alliance News reporter

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