Q3 2023 BFF Bank SpA Earnings Call Transcript
Good afternoon, and welcome to BFF Banking Group First 9 Months 2023 Earnings Call. (Operator Instructions) Please note, this event is being recorded.
Now I would like to turn the conference over to Massimiliano Belingheri, Group CEO; and Piergiorgio Bicci Group CFO. Please go ahead.
Thank you, and welcome today for our 9-months 2023 results presentation. We are pleased to report our highest ever 9-months result with a growth of 16% year-on-year of our net income at EUR 122.5 million. Importantly, the outlook going forward is quite positive for our business, underpinned by the dynamic in interest rates where we will see the late payment interest to increase from the current 12% to 12.5% from the first of January, which will boost both our running yield, but importantly, also deferred profitability.
The dynamic on the commercial side on factory and lending is good. The loan book has grown 12% year-on-year with double-digit growth in several countries. Importantly, we still have to
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