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GRUPPO CREDEM PRESS RELEASE CREDEM APPROVED 1Q21 RESULTS : GROWTH OF NET PROFIT ( + 52.3 % ) , LOANS ( + 13.2 % ) AND FUNDING ( + 20.5 % ) Strong focus on the Group's strategic development according to economic , social and environmental sustainability criteria PROFITABILITY STRONG SUPPORT TO THE ECONOMY PROTECTION AND MANAGEMENT OF CUSTOMER'S ASSETS DEVELOPMENT OF THE SERVICE MODEL Consistent value generation , despite the ongoing uncertainties of the economic scenario : consolidated net profit of € 62 million ( + 52.3 % vs 1Q20 ) after the disbursement of € 14.8 million contribution to the funds to support distressed banks and € 6 million of integration costs related to the merger of Cassa di Risparmio di Cento ; ( 1 ) • annualized ROE 8 % , annualized ROTE ( 2 ) at 9.4 % . Loans to customers ( 3 ) + 13.2 % ( more than 4X compared to + 3 % of the industry ( 4 ) ) ; ● new residential mortgages inflows at € 642.5 million in the quarter ( + 112 % YoY ) ; • annualized cost of risk equal to 5 bps , well below the industry average ( 5 ) . client assets ( 3 ) + 20.5 % YoY at € 81.6 billion of which AUM + 22.9 % YoY at € 30.5 billion , with a constant growth of bancassurance model ; • insurance reserves + 13.9 % YoY at € 8 billion ; • more than 23,000 new clients ( 6 ) . Ongoing investments in distribution networks and product factories to keep enhancing the support to families and corporates : Within the Commercial Business Unit , the retail area , which includes 523 branches , business centers and structures for small businesses , recorded a 16.5 % increase in loans and deposits . The network of financial advisors , which consists of more than 500 professionals , recorded a 24.5 % increase in loans and deposits ; • the Group's single structure dedicated to the management of large portfolios ( consisting of Credem Private Banking and Banca Euromobiliare ) recorded an increase of 18.8 % in total assets which stood at € 36 billion . In addition , 16 new private bankers were recruited ; • the development of new products and services in the Wealth management area continued , with the aim of 1