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(Il Sole 24 Ore Radiocor) – Bff Bank opened in Piazza Affari and managed to earn 12% interest. The institute communicated its feedback on the findings of the survey on credit classification, governance and remuneration corporate practices to the Bank of Italy, with the results to be published in the first quarter of 2024. The findings were published after an inspection by the Bank of Italy. Last May, among Resulting in temporary suspension of profit distributiona freeze on the variable component of wages, a ban on overseas expansion and a certain amount of time to respond to the findings. It is worth noting that the bank’s share price has fallen 24.6% in the past three months.
The bank explained that Bff’s response “is designed to achieve Resolve findings quickly With the proposed measures, the Bff “believes that the feedback provided responds to the key questions raised by the Bank of Italy, while the constructive dialogue with the regulator continues”. Again “in view of the above, the Bff Board of Directors believes that The economic and financial outlook remains largely unchanged The company also confirmed its targets for 2026 (net profit between 255 million and 265 million euros and cumulative dividends of more than 720 million euros)”.
The Equita operator appreciated the “timely communication” of the Bff regarding the feedback sent to the Bank of Italy: if on the one hand “the increase in RWAs reflects the extreme situation drawn up by the company”, on the other hand it believes that “Eliminates the risks associated with higher risk exposure Compared to the initial assumptions, no remedial measures can be taken”. Finally, Equita reports that the findings related to the accounting of Bff activities will continue to be a burdensome factor for future activities, “making it possible to Maintain the same level of growth With this in mind, Equita cut its price target by 5% to 9.5 euros per share, while confirming its “hold” recommendation on the stock.
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