Cassa Centrale Banca, net profit at +55% Rewards the relationship with members and customers

Local presence and cooperative values as success factors even in an era dominated by digital banking. Cassa Centrale Banca closes a 2023 budget to be framed and claims the results, including economic ones, of the traditional cooperative credit service model, without forgetting the necessary technological evolution.

The group, of national importance but with its heart and operational headquarters in Trento, last year saw net profit jump to 871 million from 562 in 2022 (+55%). Revenues were naturally driven by the boom in interest margin, which in the wake of ECB rates grew by 30% to 2.4 billion, against net commissions of 795 million (+5.3%). Overall, thus, the intermediation margin rose by 12.7% to 2.8 billion, against management costs of 1.9 billion (+8.2%), for a cost/income ratio improved by 7 points at 52 percent. All with a capital solidity attested by a Cet 1 coefficient of 24.6 percent.

«The excellent results achieved by the Cassa Centrale group, 5 years after its establishment – recently commented the president Giorgio Fracalossi – demonstrate the relevance of a service model based on the relationship with the members, customers and communities of reference of the 66 Bcc, Casse Rurali and Raiffeisen which are part of the group”. «The 1,480 branches of our member banks are the critical success factor of our development path, always consistent with the cooperative values that distinguish us», he claimed. In contrast to the non-cooperative banking sector, in the last two years Cassa Centrale has opened 50 new branches. In the North East alone the group can count on a network of 612 branches (over 41% of the total), of which 281 in Trentino, 196 in Veneto, 129 in Friuli Venezia Giulia and 6 in Alto Adige. In detail, in Trentino 11 Casse Rurali operate under the Ccb banner with over 2 thousand employees, for a total collection of 22.8 billion and loans of 9.4 billion, in Veneto 5 Bcc with 1,394 workers, collection of 14.2 billion and credits for 6.2 billion, in Friuli Venezia Giulia 4 cooperative credit banks with 875 employees, collections of 8 billion and loans of 4.4 and in Alto Adige 2 Raiffeisenkassen, 93 workers, 1.6 billion of collections and 1.05 billions of jobs. In 2023 at a national level, «in a year characterized by the cooling of credit demand», gross performing loans increased by 130 million to 48.2 billion and new disbursements to members and customers amounted to over 8 billion, « distributed homogeneously in the operating territories of the group’s banks. The incidence of gross impaired loans fell to 4.2% of the total, while that net of adjustments was 0.7 percent. Direct collections rose by 1.5% to 67 billion and overall deposits increased by 8.9% to 111 billion. “I cannot hide my satisfaction in confirming a significant growth trend” in 2023 “with further improved economic results compared to last year, despite a context of great economic instability”, remarked CEO Sandro Bolognesi. «Consistent with the strategic evolution that we are giving to the group – he underlined, clarifying the “double track” of the service model – the objective of supporting the territorial presence with the development of digital channels with a focus on new technologies, in order to satisfy the needs of members and customers in an omnichannel logic”. «In short, we want to concretely combine the values that make our mutual banks unique with the challenges of the bank of tomorrow», summarized the manager. And precisely with the aim of “innovating the e-money sector” and payment services, Cassa Centrale has announced the start of negotiations for a strategic partnership with the French group Worldline. The project, from which Ccb expects “medium-term benefits” and which falls within the objectives of the 2023-2026 plan, involves the supply and management of POS terminals and the signing of an exclusive agreement for international circuits. The group’s over 90 thousand POSs fall within the scope of the agreement, which in 2023 generated transaction volumes of over 9 billion. «The initiative – explained the bank – aims to further improve the quality of the POS services offered to merchant customers, relaunching the offer with innovative products and services and greater competitiveness on the market».