Earnings release
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PRESS RELEASE 1 CREDEM APPROVED RESULTS AS OF 30 SEPTEMBER 2026: NET PROFIT AT €458.8 MILLION (+12.5% YoY*), LOANS UP +2.1% YoY AND MORE THAN 164,000 NEW CUSTOMERS ➢ Over the past five years, continuous support for the country’s real economy, with customer loans up by more than €5.4 billion (+17.2% vs. - 1.0% banking industry average over the same period)(4) ➢ Over 280 new hires in 9M26: the Group accelerates its growth and future - proofing the business by recruiting more than 1,000 young talents over the 2023-2025 three-year period ➢ A people-driven transformation: head office AI tool adoption rate at 77%, 218 new innovative projects launched year -to-date (63% AI -driven); an initiative combining 177 internal projects and 41 partnerships with external partners and startups . More than 230 people dedicated to fostering innovation across the Group ➢ 2027 P2R set at 1.4%, confirming Credem’s standing among the most solid european banks directly supervised by ECB⁽⁶⁾ ➢ Commitment to local community initiatives, including the renewal of corporate volunteering programs, STEM training courses for more than 500 young people, awareness campaigns on blood, bone marrow, and organ donation, as well as support for organizations such as Save the Children and Banco Alimentare, alongside tangible relief efforts for disaster-stricken areas SUSTAINABLE VALUE AND WELL-BEING OVER TIME VALUE OVER TIME ● Consolidated Net Profit at €458.8 million +12.5% YoY compared to a net profit of €407.7 million as at end -September 2025, net of the €98.6 million benefit deriving from the disposal of the merchant acquiring business; ● Annualized ROE(1) 13.7%, annualized ROTE(1) 15.4%; ● operating income at €1,533.5 million (+9.3% compared to the end of September 2025); ● more than 164 thousand new customers(2), driven by strong, widespread local relationships; ● loans to customers(3) at €36.9 billion, +2.1% YoY; ● total customers’ funding(3) stood at €119.4 billion (+8.6% YoY)
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PRESS RELEASE 2 ○ €67.2 billion indirect funding from customers (+11.7% YoY(3)) of which assets under management (AUM) account for €39.8 billion (+8.0% YoY); ○ €11.1 billion insurance reserves (+8.9% YoY); ○ direct funding from customers stood at €41.1 billion euros (+3.8% YoY(3)). SOUNDNESS ● Ratios at the top of the industry in Italy and in Europe to protect customers and the market: Banking Group Common Equity Tier 1 Ratio (5) at 17.75%, Credemholding Common Equity Tier 1 Ratio (5) (prudential perimeter) at 16.50% compared to 8.55%, the minimum assigned by ECB(6); ● approximately €1.9 billion margin above regulatory capital requirements; ● low non-performing loan ratio (Gross NPL Ratio (7)) equal to 1.5% of total loans, compared to an average of 2.1% for Italian banks (8) and 2.2% for European banks (8). Net NPL Ratio (net non-performing loans to net loans) stands at 0.7%; ● Annualized cost of risk(9) at 10 bps, at sector-low levels. WELL-BEING AND SUSTAINABILITY ● Over €1.1 billion originated during the period across green mortgages, corporate ESG loans, and sustainability-linked leasing contracts; ● support for local initiatives through corporate volunteering, STEM training for more than 500 young people, and awareness campaigns on organ, tissue, and blood donation. This commitment includes relief efforts for disaster-stricken areas and support for organizations such as Save the Children and Banco Alimentare; ● approximately 90% of employees with an active smart working agreement; ● over 280 new hires to support growth. COMMERCIAL BANKING ● Commercial Banking (10) reached €64.1 billion of funding (+7.1% YoY) and €26.7 billion of loans (+1.1% YoY); ● As at end-September, the distribution network included 411 branches, 66 Credempoints, 44 enterprise centers, and 554 financial advisors; ● the accelerated customer growth strategy continued through the branch network, corporate centers, Credem Banca’s finan cial advisors and digital channels (Credem Link) acquired approximately 75,900 new customers, and an acquisition rate of 7.55%. EXTENDED BANKING SERVICES, CONSUMER CREDIT AND TECHNOLOGY ● Credemleasing: at the end of September reached €3.5 billion of total loans (+1.7% YoY) and with €30.8 million of net profit. ● Credemfactor: at the end of September, turnover was up 9.3% YoY, with net profit standing at €7.3 million. ● Avvera: at the end of September 2026, total business volumes stood at €1.8 billion, with net loans of approximately €4.1 billion (+13.3% YoY) and net profit of €27.2 million. ● Credemtel: as of September 30, 2026, it posted positive growth, with total revenues of €34.5 million (+8.2% YoY) and net profit of €4.4 million. PRIVATE BANKING ● Credem Euromobiliare Private Banking (CEPB), at the end September 2026 reached a total business (AUM, AUC, direct funding and loans)
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PRESS RELEASE 3 equal to €54.6 billion. Net profit as of 30 September 2026 was €47.6 million; ● The recruitment of high -profile professionals with large per -capita portfolios continued. At the end of September, the company had 369 private bankers and 323 financial advisors, with 75 branches and financial centers nationwide. WEALTH MANAGEMENT ● At the end of September 2026, assets under management reached €36.3 billion, including: portfolio management, mutual funds, SICAVs and insurance reserves (+8.6% YoY). ● Total assets relating to the Group’s investments products and services with ESG characteristics(11) reached €16.5 billion (+8% YoY); ● Credemvita total gross written premiums stood at €1,567 million (+15% YoY); ● Credem Euromobiliare Asset Management net inflows amounted to €1,644 million, driven significantly by regular savings plans (€418 million, +38.9% YoY). INNOVATION ● Ongoing development of digital services to facilitate the relationship between the bank and its customers, along with investments in the IT platform. At the end of September, customers carried out approximately 48 million transactions through remote channe ls (95.8% of the total), alongside 660,000 virtual interactions via customer support tools; ● The rollout of generative AI -powered productivity tools was extended across the entire Group. ● Officine Credem continued to play a central role as a hub for skills development and business growth. Today, Credem's Board of Directors, chaired by Lucio Igino Zanon di Valgiurata, approved the consolidated results as of September 30, 2026. Despite the uncertainties and challenges posed by an exceptionally complex geopolitical environment, the Group’s strategy proved its resilience, grounded in a highly diversified business model capable of generating sustainable long-term value and well-being for all stakeholders. The nine-month period closed with a consolidated Net Profit of €458.8 million, +12.5% YoY when compared to the September 30, 2025 result of €407.7 million net of the €9 8.6 million gain from the disposal of the merchant acquiring business completed in early 2025. Loans to customers (3) reached €36.9 billion (+2.1% YoY). More than 164 thousand new customers (2) were acquired. Total customers’ funding(3) reached €119.4 billion (8.6% YoY). Gross NPL Ratio(7) stood at 1.5%, compared to 2.1% average of significant Italian banks and 2.2% average of European banks (8), Net NPL Ratio stood at 0.7% and annualized cost of risk(9) was equal to 10 bps. At the end of September 2026 the B anking Group Common Equity Tier 1 Ratio (5) was 17.75%, Credemholding Common Equity Tier 1 Ratio (5) was 16.50%, well above the minimum ECB requirement of 8.55% assigned for 2026 (8.63% assigned for 2027) (6). Annualized ROTE(1) stood at 15.4% and annualized ROE(1) at 13.7%. These results confirmed the Group’s central role in supporting the country’s real economy: over the past five years, customer loans grew by more than €5.4 billion (+17.2%), a performance running counter to the 1.0% contraction recorded across the banking industry over the same period (4). This sound lending growth goes hand-in-hand with an ongoing dedication to human capital. With over 280 new hires completed in the
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PRESS RELEASE 4 first nine months of 2026, the Group accelerates its growth trajectory and consolidates its future foundation, building on the onboarding of more than 1,000 young talents over the 2023–2025 three-year period. “Focus on local territories and communities has always been part of our DNA and represents the most important growth driver for the Group”, stated Stefano Morellini, General Manager of Credem. “We support households and businesses through an omnichannel model and a specialized, comprehensive offering, where nurturing client relationships and the value of our people drive ou r local presence and its development. Stemming from this vision are continuous investments in training, skills, and technology, which are essential to deliver high -quality advisory services and tailored solutions” , added Morellini. “ The strength of our fundamentals—from our solid capital position to credit quality and a governance model focused on long - term value creation—forms the pillar of our growth strategy and our ability to meet clients’ needs throughout their life cycle, from younger generations to t he increasingly critical challenges of longevity ”, concluded Morellini. Consolidated economic results(12)(**) At the end of September 2026 operating income stood at €1,533.5 million, compared to €1,402.5 million of the previous year (+9.3% YoY). Within the aggregate, Net Interest Income (13) was equal to €762.9 million compared to €723.6 million in the same period of 2025 (+5.4% YoY). Non Interest Margin (14)(15) stood at €770.6 million compared to €678.9 million in the same period of the previous year (+13.5% YoY). In detail, Asset Management and Brokerage Fees net of performance fees reached €412.4 million (+10.3% YoY), including performance fees they reached €447.1 million (+17.0% YoY). Banking fees amounted to €158.6 million (3.7% YoY), showing a slight increase despite the disposal of the merchant acquiring business. Contribution from financial activities reached €76.8 million (+29.1% YoY). Insurance income was €76.7 million (+11.8% YoY). Operating costs were €712.0 million compared to €683.0 million at the end of September 2025 (+4.2% YoY). In detail, the administrative expenses(15) amounted to €241.0 million (+2.5% YoY), while staff costs were €471.0 million (+5.2% YoY). Cost/income(16) stood at 46.4% compared to 48.7% at the end of September 2025. Gross operating profit was €821.5 million compared to €719.5 million in the same period of the previous year (+14.2%). D&A amounted to €88.0 million compared to €82.3 million at the end of September 2025 (+7.0% YoY). Net Operating profit was €733.5 million compared to €637.2 million as at 30 September 2025 (+15.1% YoY). Provisions for risks and charges recorded net recoveries of €2.9 million, compared to a negative impact of €9.9 million in the prior-year period. Loan loss provisions⁽¹⁵⁾ stood at €28.2 million (compared to €18.4 million as of late September 2025). The Group reported an annualized cost of risk⁽⁹⁾ of 10 bps. Net extraordinary income/charges was +€5.4 million (+€95.8 million at the end of September 2025, which included €100 million deriving from the disposal of Credem's merchant acquiring business to Worldline Italia).
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PRESS RELEASE 5 Profit before taxes was €713.6 million compared to €604.7 million in September 2025, net of the €100 million gain from the disposal of the merchant acquiring business, while taxes for the period amounted to €254.7 million (€198.3 million at the end of September 2025, +28.4% YoY). Consolidated net profit stood at €458.8 million, compared to €506.4 million. Net profit grew by 12.5% YoY, when considering the prior-period result of €407.7 million net of the €98.6 million gain arising from the sale of the merchant acquiring business completed in early 2025. Consolidated balance sheet aggregates (3)(*) Group Customer Funding at the end of September 2026 stood at €119.4 billion compared to €110.0 billion in the same period of the previous year (+8.6% YoY). Group Total Funding amounted to €139.9 billion compared to €128.0 billion at the end of September 2025 (+9.3% YoY). In det ail, Direct Deposits from customers reached €41.1 billion compared to €39.5 billion in the first nine months of the previous year (+3.8% YoY). Group Direct Deposits amounted to €45.4 billion compared to €43.7 billion at the end of September 2025 (+3.9% YoY). Insurance reserves stood at €11.1 billion, +8.9% compared to €10.2 billion in the same period of the previous year. Premiums of life and non-life protection products amounted to €86.6 million, recording an increase of around +17.2% YoY. Indirect Customer Deposit amounted to €67.2 billion compared to €60.2 billion at the end of September 2025 (+11.7% YoY). In detail, AUM amounted to €39.8 billion compared to €36.8 billion in the same period of the previous year (+8.0% YoY). Within the aggregate portfolio management accounts amounted to €6.7 billion (-1.9% YoY), mutual funds and Sicav amounted to €18.5 billion (+12.7% YoY), third-party products and other assets under management amounted to €14.6 billion (+7.3% YoY). The Group's liquidity reserves amounted to nearly €20.1 billion (€18.9 billion at the end of 2025), representing approximately 29% of total assets. This level is supported by €1.1 billion in deposits with central banks (€1.5 billion at the end of 2025) and €13.5 billion in unencumbered ECB-eligible assets (€11.8 billion at the end of 2025) and €5.6 billion in Other ECB eligible unencumbered assets (€5.5 billion at the of 2025). Loans to customers grew by 2.1% YoY (compared to the Industry (4), which grew by 3.3% over the same period), standing at €36.9 billion compared to €36.1 billion in the same period of 2025, with a constant focus on portfolio quality. Specifically, residential mortgage inflows amounted to €1,118 million, with a total stock of €11,689 million (+2.4% YoY). At the end of September 2026, the securities portfolio reached €12,603 million with an average maturity of 4.0 years. Total Italian government bonds amounted to €5.0 billion (approximately 40% of the portfolio), of which 82% in the HTC accounting category, thus reducing further volatility risks deriving from the Btp -Bund spread. Net NPL ratio was 0.67% (compared to 0.70% at the end of Septe mber 2025) significantly lower than the industry average(4) equal to 1.32%. Gross bad loans amounted to €208.5 million and the bad loans coverage was 80.4% (82.8% in the same period of the previous year). Net NPLs were €247.5 million, down by 2.4% compared to €253.6 million at the end of September 2025. Gross NPL amounted to €577.7 million, down by 5.5% compared to €611.1 million in the same period of the previous year. Coverage of total gross non performing loans was 57.2% (58.5% at the end of September 20 25); the figure, including the shortfall (17), goes up to 61.4%. Gross NPL Ratio(7) stood at 1.5% (1.67% at the end of September 2025) vs an average of significant Italian banks(8) of 2.1% and a EU average(8) of 2.2%.
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PRESS RELEASE 6 Capital Ratios Credemholding CET1 ratio(5) stood at 16.50%, at the highest levels of the industry with over €1.9 billion of margin on regulatory capital requirements ; 2026 minimum requirement CET1 Ratio (SREP) (6) assigned to the Group, among the lowest among Italian banks directly supervised by ECB, is equal to 8.55%. Tier 1 capital ratio(5) was 16.80% and Total capital ratio(5) was 18.97%. Businesses and activities of the Group BANKING > COMMERCIAL BANKING Thanks to 411 retail branches, 66 credempoint, 44 corporate centers and the network of 554 financial advisors, Commercial Banking reached €64.1 billion of funding (+7.1% YoY) and 26.7 billion of loans (+1.1% YoY). In detail, the network of financial advisors achieved €11.3 billion of funding (+9.2% YoY), €823 million of loans (+3.2% YoY) and hired 23 professionals since the beginning of 2026; the strategy of accelerated customer growth continued in the first half with the network of branches, corporate cent ers, Credem Banca’s financial Advisors and digital channels (Credem Link), which acquired approximately 75,900 new customers and an acquisition rate of 7.55%. > EXTENDED BANKING SERVICES, CONSUMER CREDIT & TECHNOLOGY Credemleasing generated €840 million in overall new business during the period, reaching net balance sheet loans to approximately €3.5 billion (+2.0% YoY), and recorded a net profit of €30.8 million in the nine-month period of 2026, compared to €29.9 million in the same period of the previous year. Credemfactor recorded a 9.3% rise in turnover over the same period of the previous year and a net profit as at 30 September of €7.3 million (€7.1 million as at September 2025). Avvera, a company of Credem Group specialized in residential mortgages, consumer credit, salary and pension-backed loans, closed the first nine months of 2026 with net profit of €27.2 million (+17% YoY), up sharply year-on-year. Overall business volumes amounted to €1.8 billion, flat compared to the prior-year period. Operationally, the company showed consistent dynamics characterized by progressive lending gains: personal loan originations stood at €270 million (+2% YoY) and special-purpose loans hit €633 million (+13% YoY). Mortgage broking contracted marginally to €558 million (-10% YoY, in line with industry trend), while salary-backed lending recorded a total loan amount of €348 million (-5%). In addition, Avvera reaffirmed its role as a key driver of Group customer acquisition, generating more than 69,000 prospects across 9M26. Credemtel, the company, active in providing digital services to businesses and Public Administration, focused on optimizing Cloud migration and renewing facility management services, while placing a strong focus on Artificial Intelligence. As of September 30, 2026, the company recorded a positive growth trend, with total revenue reaching €34.5 million (+8.2% YoY) and a net profit of €4.4 million.
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PRESS RELEASE 7 > PRIVATE BANKING Credem Euromobiliare Private Banking (CEPB), the Private Bank of Credem Group, at the end of September 2026 had 75 branches and financial centers present throughout the national footprint and 692 professionals. As of September 30, 2026, net profit stood at €47.6 million, with overall customer assets (direct deposits, assets under administration, asse ts under management, and loans) reaching €54.6 billion, backed by a positive contribution from net inflows (direct, managed, and administered) of approximately €1.8 billion. Furthermore, the recruitment of high-profile professionals with large per-capita portfolios continued. At the end of September 2026 the company had 369 private bankers and 323 financial advisors, having recruited 26 professionals since the beginning of the year. WEALTH MANAGEMENT As of September 30, 2026, the Group's wealth management companies (Credem Euromobiliare Asset Management SGR, Credem Euromobiliare Advisory Sim, Credem Euromobiliare Private Asset SGR, Euromobiliare Fiduciaria e Credemvita) reached €36.3 billion in assets under management (8.6% YoY). The expansion of a broad and diversified range of investment solutions continued, with a sustained focus on sustainability. As of late September, total assets relating to the Group’s investment prod ucts and services with ESG (environmental, social and governance) characteristics (11) stood at over €16.5 billion (+8% compared to the same period in 2025). Customer-centricity and the evolution of the product offering continued to drive the growth of Credemvita. The effectiveness of the strategy was reaffirmed by performance in the first nine months of 2026, with total gross written premiums reaching €1,567 million (+15% YoY). Performance was boosted by positive momentum across all main business lines, l ed by Supplementary Pensions (+159% YoY) and Insurance Protection (+22% YoY). The latter sector was further strengthened by the launch in September of two new Term Life assurance, tailored respectively to individuals and businesses, enhancing the product range by integrating Critical Illness cover for the first time. Credemvita’s net profit as of September 30, 2026 stood at €43.2 million (+21.4% YoY). Credem Euromobiliare AM recorded net inflows of €1,644 million as of September 30, 2026 (+7.8% compared to September 30, 2025), of which +€1,260 million from UCITS funds, +€34 million from pension products, -€253 million from discretionary mandates, +€12 million from FOS insurance policies, and +€592 million from unit -linked policies, benefiting from the man agement mandate delegated by Credemvita starting in July 2026. Inflows from regular savings plans continued to expand, with new production of €418 million rising significantly against the prior-year period (+38.9%). Credem Euromobiliare AM’s net profit for the period amounted to €60.1 million (+59.9% YoY), supported by the integration of the business units formerly belonging to Euromobiliare Advisory SIM and the contribution from performance fees.
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PRESS RELEASE 8 INNOVATION AND DIGITAL TRANSFORMATION ● Digital services: since the beginning of the year, customers have carried out approximately 48 million transactions via remote channels (accounting for 95.8% of the total), alongside 660,000 virtual interactions managed through advanced customer support tools. Wit hin this domain, the Group is currently piloting agentic AI models, evolving conventional chatbots and voicebots toward systems capable of supporting workflows and complex interactions more autonomously and proactively. ● The Group reaffirms its day -to-day commitment to adopting Artificial Intelligence technologies, aimed not only at boosting individual productivity across workplace environments, but also at driving the acceleration of IT innovation and operational processes. Reflecting this dedication, the G roup was honored in October at the 13th edition of the Qorus –Infosys Finacle Banking Innovation Awards for its AI-Driven Internal Support Ecosystem project, designed to empower Credem branches with everyday AI, streamline team efficiency, and elevate customer service delivery. ● The adoption rate of generative and agentic AI solutions within Group offices continued its upward trend, reaching approximately 77%. Supported by dedicated internal training curricula, this approach enables the Group to combine enhanced operational agility with ever-higher standards of quality and security. ● Since the start of 2026, the Group has launched 218 innovation initiatives, 63% of which leverage generative AI to disseminate, prototype, and test solutions internally. Of these, 177 initiatives were developed within individual departments or Group subsidiaries, alongside 41 innovation labs run primarily in conjunction with external partners and startups. The Credem Group Innovation Model is anchored in a structured, distributed Hub & Spoke architectur e designed to blend central strategic governance with distributed autonomy and entrepreneurship. The overarching objective is to maximize opportunities and establish conditions for the company to originate and scout, both internally and externally, unconventional ideas, emerging technologies, methodologies, and skill sets, translating them into tangible business value. The model actively engages 235 Group professionals across specialized roles: Spoke Leaders , responsible for strategic alignment and project coordination within their respective divisions and subsidiaries; Innovation Leaders, who identify operational requirements and act as liaisons between the various Group units and the central Hub; and Digital AI Coaches, tasked with championing and guiding the daily adoption of GenAI tools while fostering digital literacy across the entire organization. ● During the third quarter, Officine Credem consolidated its position as the Group's innovation hub, driving strategic internal and external initiatives geare d toward cultivating technical, interpersonal, and leadership capabilities. Key milestones included the workshop on Silicon Valley-style communication led by Jeff Cabili (Stanford University) in partnership with The European House - Ambrosetti, as well as the conference on Artificial Intelligence for International Competitiveness co-sponsored with AHK, Lovemark, and Credemtel. Synergies with the local ecosystem were further bolstered by hosting the preparatory sessions for the TEDxReggioEmilia (TEDxRE) community. VALUE FOR THE PEOPLE OF THE GROUP ● Continued hiring across the Group: Over 1,370 new hires joined over the 2023 –2025 three-year period (including more than 1,000 young professionals), marked by positive turnover and an accelerating recruitment plan for 2026 (more than 280 hires in the first nine months, with the goal of exceeding 380 hires in total). ● Tangible investments in training and skills: Approximately 4.7 days of training per employee (+10% compared to 2025), alongside a 52% surge in classroom-based training focused on technical/commercial upskilling and Artificial Intelligence.
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PRESS RELEASE 9 ● A comprehensive People Care ecosystem: Featuring more than 100 dedicated initiatives and over 120 on-demand webinars structured across five core pillars (spanning preventive healthcare and wellness to psychological support, parenting, caregiving, and work-life balance/leisure). ● Tailored development and internal mobility: An HR management model where every employee is assigned an HR Manager aligned with organizational lines , complemented by a second HR Manager focused on demographic segments (generations), alongside substantial internal mobility opportunities across an organization encompassing over 170 distinct job roles. ● As of September 30, 2026, approximately 90% of emp loyees have a hybrid working arrangement , designed to foster work -life integration and further enhance organizational agility and individual initiative. ● Organizational evolution and distributed leadership: A workplace model grounded in empowerment, leadership distributed across all levels (not just management), and shared responsibility, purposefully moving beyond traditional hierarchical structures to unleash personal initiative. ● Inclusion, equity, and celebration of diversity: a continuous strategic c ommitment to Diversity & Inclusion, translated into concrete initiatives championing gender parity, individual uniqueness, and an accessible, equitable work environment. SUSTAINABILITY, VALUE AND WELFARE FOR THE COMMUNITY Strong commitment to local community initiatives, including the renewal of the corporate volunteering program, STEM education programs for over 500 young students , and internal campaigns raising Credem Group employees' awareness regarding the vital importance of blood, bone marrow, and organ donations. Key social engagement efforts also targeted educational poverty (in partnership with Save the Children), essential assistance for vulnerable population segments (via Banco Alimentare), and targeted relief aid for areas impacted by natural disasters. Credem’s Transition Plan, approved in 2025 and aligned with the Paris Agreement climate targets, aims to achieve net -zero emissions by 2050 through a progressive abatement of Scope 1 emissions (covering company fleet vehicles and building h eating) and Scope 3 emissions (pertaining to the loan portfolio, prioritizing high -emission-intensity sectors material to short, medium and long -term environmental and climate risk assessments). Near-term 2026 targets translate into commercial lending goa ls underpinned by dedicated sustainable finance solutions (Sustainability -Linked Loans, green mortgages, and green special -purpose loans). During the third quarter, corporate ESG financing and green leasing contracts exceeded €730 million (tracking toward a full -year target of at least €750 million). Meanwhile, ESG-oriented financing granted to retail clients across Credem and Avvera (energy class A and B residential mortgages and progress -billing construction loans / SAL) amounted to €393.3 million in total. Medium and long -term Scope 1 milestones (2030 –2040) center on the systematic electrification of the corporate fleet and the phase-out of gas boilers in favor of heat pumps. Regarding the fleet objective, 31% of the 465 corporate vehicles (up from 441 at year-end 2025) are hybrid, plug-in hybrid, or fully electric, in line with plan targets. In addition, projects to replace gas boilers with heat pumps have been completed or
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PRESS RELEASE 10 are actively underway, yielding an estimated steady -state savings of around 65,000 standard cubic meters (Smc) of natural gas—comfortably surpassing the target set for 2026. Ongoing monitoring continued regarding the progressive decarbonization of corporate borrowers under Scope 3 objectives, starting with the Oil & Gas and Po wer Generation sectors. For these segments, a structured framework of supplementary documentation collection was rolled out to ensure more granular visibility into specific corporate clusters and to facilitate proactive stakeholder engagement, including tailored advisory services designed to catalyze green capital expenditure aligned with overall portfolio decarbonization. By December 2026, new decarbonization targets will be established for sectors identified as material in the risk assessment, specifical ly Iron & Steel, Shipping, and Residential Real Estate. These targets will be integrated into the 2027–2030 strategic planning cycle in conjunction with the updated Transition Plan. Predictable evolution of management The global economy continued to demonstrate greater resilience than expectations, despite protracted geopolitical tensions. More recently, the ongoing conflict in the Middle East, marked by the prospect of further attacks, alongside concerns over the return on investment in Artificial In telligence and sovereign fiscal vulnerabilities in certain countries, have affected oil and gas prices, equity market dynamics, and sovereign bond yields. Overall, downside risks are mounting that economic activity may begin to feel the strain of rising in flation and interest rates, although the direct fallout for European financial institutions currently remains limited and largely confined to the valuation of financial assets. With regard to economic aggregates, the final stretch of 2026 is expected to feature: ● Net interest income sustained by interest rate dynamics and volume growth; ● fee and commission income supported by asset gathering volumes generated throughout the year, even under the assumption of a market correction; ● an increase in staff expenses and operating costs, aimed at securing and further enhancing the service model and strategic initiatives, including digital transformation; ● a cost of risk broadly in line with recent trends, underpinned by rigorous risk underwriting on new lending and continuous monitoring of the loan portfolio. On the strategic front, ongoing initiatives remain focused on reinforcing the Group’s business model and the customer experience for retail clients, households, and corporate customers. Specifically, investments in the commercial banking service delivery m odel will continue in order to consolidate digital capabilities and product offerings for individuals, alongside cross-border and international banking solutions for enterprises. Private Banking continues to expand its physical branch network and evolve around high-touch, personalized client relationships. Additional investment areas include bolstering extended banking services and the Wealth Management division within a continuous improvement framework. Significant momentum is anticipated across the development roadmap for Artificial Intelligence and Generative AI solutions, alongside vigilant oversight of IT, cyber risk, and data governance. Strong scrutiny remains dedicated to regulatory compliance programs and supervisory mandates. Concurrently, efforts toward embedding ESG considerations into corporate strategy and business processes will proceed unabated.
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PRESS RELEASE 11 *** In accordance with paragraph 2 of Article 154-bis of the Consolidated Law on Finance (D. Lgs. 58/98 “Testo Unico delle disposizioni in materia di intermediazione finanziaria”), the Financial Reporting Manager Giuseppe Malato declares that the accounting information, both individual and consolidated, contained in this press release corresponds to document results, books and accounting records. *** Attached are the individual and consolidated balance sheet and income statement and the reclassified consolidated income statement. The additional periodic financial information referring to 30 September 2026 is not subject to audit. Further information on Credem and the Group companies is available on the website www.credem.it and in the Investor Relations section there is a presentation commenting on the consolidated results as at 30 September 2026. *** A reclassification was carried out in the second quarter of 2026 between fee and commission income from management and brokerage services and net trading income (the result of financial activities). This reclassification ensures the consistent alignment of comparativ e periods, enhancing the readability of managerial aggregates and the overall consistency of financial statements. *** (*) 2025 NORMALIZED NET PROFIT: 3Q25 net profit of €407.7 million, excluding the €98.6 million gain resulting from the disposal of the merchant acquiring business. (**) ALTERNATIVE PERFORMANCE INDICATORS Credem Group adopts a set of Alternative Performance Measures (“APMs”) in order to enhance a deeper comprehension of the information regarding the economic and financial trends. At this link is available a table illustrating the definition and the calculation of each APM used by the Gr oup, as well as a reconciliation with the lines in the financial reports and related comments. NOTE: (1) ROE= net profit/[(previous year's equity + equity)/ 2]. Equity: algebraic sum of valuation reserves (item 120 + item 125) , redeemable shares (item 130), reserves (item 150), share premiums (item 160), capital (item 170) - treasury shares (item 180), consolidated profit net of dividends distributed (or approved) by the parent company or in any case by the consolidation company (item 200). ROTE calculat ed as normalized net profit/[(tangible equity previous year + tangible equity)/2]. Tangible equity: algebraic sum of valuation reserves (item 120 + item 125), redeemable shares (item 130), reserves (item 150), share premiums (item 160), capital (item 170) - treasury shares (item 180) , consolidated profit net of dividends distributed (or approved) by the parent company or in any case by the consolidation company (item 200) - intangible assets (item 100); (2) the figure refers to new customers acquired by Credem, Credem Euromobiliare Private Banking and Avvera; (3) loans do not include repos, in the technical form of repurchase agreements, to the Compensation and Guarantee Fund, and at 30 September 2026 the securities valued at amortized cost, equal to €8,785 million. Repurchase agreements are excluded from total direct deposits, while the contribu tion of the companies belonging to the banking group is included. Insurance deposits include technical provisions and f inancial liabilities valued at the fair value of Credemvita. For customer deposits, bonds issued on institutional markets and indirect funding of a financial nature are deducted for all reference periods. Insurance reserves are also included in total custo mer deposits; finally the counterpart to the capitalization of properties and cars for rent (IFRS16) is excluded for approximatel y €126 million. Total net inflows include direct and indirect funding from customer; (4) source ABI Monthly Report October 2026. The change in customer loans over the past five years is calculated over the period between end -September 2021 and end- September 2026. The banking system net bad loans to net customer loans ratio is updated as of August 2026. (5) by article 11 paragraph 2 and 3, and 13 paragraph 2 of the EU Regulation No. 575/2013 (CRR), banks controlled by a financ ial holding shall meet the requirements set by such Regulation on the basis of the consolidated statements of the financial holding. In light of these rules on capital r atios, the consolidation perimeter of the Group changed, within the framework set by the prudential supervision. Therefo re, capital ratios were calculated on Credemholding, which holds 79.82% of Credem Spa share capital. The Periodic Financial Report has not been audited. Please note that the Common Equity Tier 1 capital of the Credemh olding Group, as of September 30, 2026, was calculated taking into account the profit realized during the period, for the portion attributable to equity, following, for the purposes of its computability, the procedure provided for by Article 3 of Decision EU 656/2015 of the European Central Ban k of February 4, 2015, and by Article 26, paragraph 2, of Regulation EU No. 575/2013 concerning prudential requirements for credit institutions and investment firms. Without including the “Net Income f or the period” in the calculation of CET1 Capital, the CET1 Ratio would have been 16.25%; (6)2027 SREP Requirement: see press release Credem Group among the best banks supervised by the ECB for capital soundness . The 2026 SREP requirement of 8.55% comprises: i) the minimum requirement defined in Article 92(1)(a) of Regulation 575/2013 (CRR); ii) the value of the capital conservation buffer equal to 2.5%; iii) the Pillar 2 requirement of 1.25% to be held for at least 56.25% in the form of CET1 capital and for at least 75% in the form of Tier1 c apital; iv) the countercyclical capital buffer rate, which stood at 0.0349% as of September 30. v) SyRB equal to 0.805% as of September 30. This buffer is also calculated on a quarterly basis and, therefo re, may vary accordingly; (7) calculated as a ratio between Total Gross NPLs, €577.7 million, and Gross Loans to Customers, €37,307 .7 million; (8) source: Supervisory Banking Statistics - Second Quarter 2026, NPL Ratio calculated excluding cash at central banks and other sight deposits; (9) calculated as Net value adjustments/write-backs due to impairment of Loans / Loans to customers (without considering the securities component); (10) management data relating to Credem's Commercial Banking Business Unit: 411 retail branches, 66 Credempoint, 44 business centers and the network of 554 financial advisors and digital channels. The figure for loans does not include leasing and factoring; (11) the total value of the products and services of Credem Group that promote ESG characteristics and which fall within the Article 8 and Article 9 classifications defined by Community Regulation 2088/19 (so-called SFDR); (12) P&L reclassified figures. The reclassification was performed also considering management accou nting figures that could not be directly taken from the financial statements and from the explanatory note;
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PRESS RELEASE 12 (13) includes cash-flows from assets at fair value and “Profit/Loss from Equity Investments”and the profits/losses of equity investments valued using the equity method; (14) includes Credemvita Operating Income and “Other operating income/charges” net of extraordinary income/expenses; (15) Other administrative expenses and fee and commission income have been netted of indirect taxes and duties recovered from clients (€119.5 million as of September 2026, €110.5 million as of September 2025). Net impairment adjustments on financial assets measured at amortized cost relatin g to securities ( -€0.3 million as of September 2026; €1.6 million as of September 2025) are allocated to service margin. The result from the disposal of NPL loans is reclassified to net adjustments on loans and financial transactions (€7.5 million as of September 2026; €11.2 million as of September 2025); (16) calculated as the ratio be tween operating costs and operating income, without including the value of depreciation. Calculating the figure as the ratio between (operating costs + depreciation and amortization) and operating income the ratio would be equal to 52.2%; (17) shortfall is calculated as the difference between ELBE – Expected Loss Best Estimate (which represents the best estimate of the expected loss for each credit exposure, given its stage and the current economic environment) and Net Adjustments to Loans. The shortfall am ount is considered in the calculation of comprehensive coverages on Non Performing Loans both in the ”Addendum to the ECB Guidance to banks on Non Performing Loans” and in the draft law prop osed by the European Commission aimed at introducing minimum coverage on Non Performing Loans. The present document is the English translation of the original Italian document, prepared for and used in Italy, and has been translated only for the convenience of international readers. The Italian text shall prevail over the English version. Reggio Emilia, 5 November 2026 CREDITO EMILIANO SPA (Chairman) Lucio Igino Zanon di Valgiurata CONTACTS Media relations Credem Investor relations Credem 🕿 +39.0522.582075 🕿 +39.0522.583076 - 583741 🖂 rel@credem.it 🖂 investor@credem.it 🖳 www.credem.it
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PRESS RELEASE 13 CREDEM – CONSOLIDATED BALANCE SHEET (€,000) Assets 09/30/2026 12/31/2025 10. Cash and cash equivalents 953,443 1,403,332 20. Financial assets at fair value through profit or loss 6,843,653 6,334,267 a) financial assets held for trading 44,203 40,923 c) other financial assets mandatorily measured at fair value through profit or loss 6,799,450 6,293,344 30. Financial assets at fair value through other comprehensive income 10,185,046 9,705,465 40. Financial assets at amortized cost 48,132,053 47,707,320 a) Loans to banks 2,462,684 2,455,324 b) Loans to customers 45,669,369 45,251,996 50. Hedging derivatives 382,043 179,098 60. Remeasurement of financial assets backed by general hedging (+/ -) (19,286) 68,555 70. Equity investments 60,320 62,582 80. Insurance Activities (former Technical reserves attributable to reinsurers) 6,262 8,750 b) Reinsurance contracts held that are assets 6,262 8,750 90. Tangible assets 438,752 447,156 100. Intangible assets 511,889 515,564 of which - goodwill 295,098 291,342 110. Tax assets 547,716 443,818 a) current 10,131 53,967 b) deferred 537,585 389,851 130. Other Assets 968,793 1,250,091 Total Assets 69,010,684 68,125,998 Liabilities 09/30/2026 12/31/2025 10. Financial liabilities at amortised cost 50,183,759 50,486,460 a) due to banks 3,568,675 3,120,020 b) due to customers 42,051,143 42,847,926 c) outstanding securities 4,563,941 4,518,514 20. Financial liabilities held for trading 19,643 13,910 30. Financial liabilities at fair value 1,348,056 4,744,132 40. Hedging derivatives 355,250 482,249 50. Remeasurement of financial liabilities backed by general hedging (+/ -) (262,466) (74,628) 60. Tax liabilities 569,305 328,853 a) current 99,729 21,110 b)deferred 469,576 307,743 80. Other liabilities 1,957,712 1,447,466 90. Provisions for staff termination indemnities 22,927 24,738 100. Provisions for risk and charges: 204,841 236,019 a) commitments and guarantees given 5,754 6,310 b) pensions and similar commitments 877 1,010 c) other provisions 198,210 228,699 110. Insurance Liabilities (former Technical reserves) 9,781,837 5,773,970 a) Insurance contract liabilities 9,779,923 5,773,169 b) Reinsurance contracts liabilities 1,914 801 120. Valuation reserves (90,528) (51,076) 121. of which related to discontinued operations - - 150. Reserves 3,812,934 3,449,325 155. of which: interim dividends - - 160. Share premium reserve 321,800 321,800 170. Share capital 341,320 341,320 180. Treasury shares (-) (14,693) (20,010) 190. Minority interests (+/-) 176 4 200. Profit (loss) for the period (+/-) 458,811 621,466 Total liabilities and shareholders’ equity 69,010,684 68,125,998
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PRESS RELEASE 14 CREDEM – CONSOLIDATED INCOME STATEMENT (€,000) Items 09/30/2026 09/30/2025 10. Interest income and similar revenues 1,317,668 1,242,353 of which: interest income calculated applying the effective interest method 1,290,737 1,227,825 20. Interest expense and similar charges (436,669) (426,383) 30. Interest margin 880,999 815,970 40. Commission income 703,420 627,854 50. Commission expense (183,353) (156,987) 60. Net commissions 520,067 470,867 70. Dividends and similar revenues 31,532 31,318 80. Net result from trading activities 30,902 21,811 90. Net result from hedging activities (704) (1,009) 100. Profit (loss) from sale or repurchase of: 53,020 37,825 a) financial assets at amortised cost 50,665 27,926 b) financial assets at fair value through other comprehensive income 2,355 10,271 c) financial liabilities - (372) 110. Net result from financial assets and liabilities at fair value through other comprehensive income 68,817 65,108 a) financial assets and liabilities measured at fair value (164,874) (110,406) b) other financial assets measured at fair value mandatory through profit or loss 233,691 175,514 120. Operating income 1,584,633 1,441,890 130. Net value adjustments/write-backs due to impairment of: (36,711) (27,931) a) financial assets at amortised cost (36,482) (28,131) b) financial assets at fair value through other comprehensive income (229) 200 140. Profit/Loss from contractual changes without cancellations (189) (290) 150. Net income from financial activities 1,547,733 1,413,669 160. Insurance Services Results (former Net premiums) 66,477 52,294 a) insurance revenue arising from insurance contracts issued 102,083 80,523 b) insurance service expenses arising from insurance contracts issued (33,689) (26,605) c) insurance revenue arising from reinsurance contracts held 1,531 2,191 d) insurance services expenses arising from reinsurance contracts held (3,448) (3,815) 170. Other income/expenses from insurance activities (140,640) (113,883) a) Net financial expenses/revenue related to insurance contracts issued (140,689) (113,957) b) Net financial expenses/revenue related to reinsurance contracts held 49 74 180. Net Income from Financial and Insurance Activities 1,473,570 1,352,080 190. Administrative costs (831,519) (798,191) a) personnel costs (471,038) (447,952) b) other administrative costs (360,481) (350,239) 200. Net provisions for risk and charges 3,466 (9,562) a) commitments and guarantees given 558 345 b) other net provisions 2,908 (9,907) 210. Net value adjustments/write-backs to tangible assets (34,050) (33,654) 220. Net value adjustments/write-backs to intangible assets (53,999) (48,612) 230. Other operating income/charges 150,364 235,201 240. Operating costs (765,738) (654,818) 250. Profit (loss) from equity investments 5,493 5,743 280. Profit (Loss) from disposal of investments 247 1,679 290. Profit (loss) before tax from continuing operations 713,572 704,684 300. Taxes on income from continuing operations (254,699) (198,313) 310. Profit (loss) after-tax from continuing operations 458,873 506,371 330. Profit (loss) for the period 458,873 506,371 340. Profit (loss) attributable to minority interests (62) - 350. Profit (loss) attributable to the parent company 458,811 506,371
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PRESS RELEASE 15 CREDEM – RECLASSIFIED CONSOLIDATED INCOME STATEMENT (€, MILLION) 09/26 09/25 Var% 12/25 Net interest income 762.9 723.6 5.4 973.9 Non interest margin (*) (**) 770.6 678.9 13.5 909.6 Operating Income 1.533.5 1.402.5 9.3 1.883.5 Personnel costs -471.0 -448.0 5.2 -620.9 Administrative costs (*) -241.0 -235.0 2.5 -313.3 Operating costs -712.0 -683.0 4.2 -934.2 Gross operating profit 821.5 719.5 14.2 949.3 Amortization & Depreciation -88.0 -82.3 7.0 -111.2 Net operating profit 733.5 637.2 15.1 838.1 Provisions for risks & charges 2.9 -9.9 -129.4 -12.4 Extraordinary income/charges 5.4 95.8 -94.4 90.5 Net adjustments to loans and other financial transactions (**) (***) -28.2 -18.4 53.0 -47.6 PROFIT BEFORE TAX 713.6 704.7 1.3 868.6 Profit (loss) attributable to minority interests -0.1 0.0 0.0 Income taxes for the period -254.7 -198.3 28.4 -247.2 NET PROFIT 458.8 506.4 -9.4 621.5 This reclassification was performed also considering management accounting figures that could not be directly taken from the financial statements and from the explanatory notes, (*) Other administrative expenses and fee and commission income have been netted of indirect taxes and du ties recovered from clients (€119.5 million as of September 2026, €110.5 million as of September 2025); (**) Impairment losses/reversals on credits relating to financial assets measured at amortized cost referring to securities (-€0.3 million as of September 2026; €1.6 million as of September 2025) are allocated to service margin; (***) The result from the disposal of NPL loans is reclassified to net adjustments on loans and financial transactions (€7.5 million as of September 2026; €11.2 million as of September 2025). KEY: Net Interest Income + Item 30 Net interest income + Item 70 Dividends and similar income (only the portion related to equity dividends of HTC and HTCS securities) + Item 250 Gains (losses) on investments excluding gains/losses on disposals/valuations - Credemvita net interest income Non-Interest Margin + Item 60 Net fee and commission income + Item 80 Net profit (loss) from trading + Item 90 Net profit (loss) from hedging + Item 100 Profit (loss) on disposal or purchase excluding only gains/losses on equity securities component + Item 110 Net profit (loss) from financial assets and liabilities designated at fair value + Item 130 a) Net value adjustments/write-backs due to impairment of a) financial assets at amortised cost (limited to securities classified among such accounting category) + Item 130 b) financial assets at fair value through other comprehensive income + Item 160 Insurance service result + Item 170 Net other operating income/charges from insurance activities + Item 230 Other operating income/charges (net of extraordinary items and recoveries of indirect taxation) + Item 70 Dividends and similar income (net of the portion related to equity dividends classified in HTC and HTCS) + Credemvita net interest income Operating Profit + Operating Income + Item 190 Administrative costs (personnel costs and other administrative costs) + Item 210 Net adjustments to (recoveries on) tangible assets + Item 220 Net adjustments to (recoveries on) intangible assets Profit before tax + Operating Profit + Item 130 Net value adjustments/write-backs due to impairment of Loans (net of those included in the Non Interest Margin) + Item 140 Profit (loss) from contractual changes without cancellations + Item 200 Net provisions for risks and charges + Extraordinary income/charges: + Item 230 Other operating income/charges (only extraordinary items – imbalance of extraordinary items) + Item 270 Goodwill impairment + Item 280 Gains (losses) on disposals of investments + Item 320 Profit (loss) after tax from discontinued operations
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PRESS RELEASE 16 CREDEM – INDIVIDUAL BALANCE SHEET (€- PRELIMINARY FIGURES) Assets 09/30/2026 12/31/2025 10. Cash and cash equivalents 915,005,113 1,382,506,510 20. Financial assets at fair value through profit or loss 75,848,912 74,094,111 a) financial assets held for trading 45,622,544 42,327,202 c) other financial assets mandatorily measured at fair value through profit or loss 30,226,368 31,766,909 30. Financial assets at fair value through other comprehensive income 5,472,698,820 5,155,754,935 40. Financial assets at amortized cost 46,104,234,671 45,764,131,054 a) loans to banks 2,430,936,556 2,419,039,078 b) loans to customers 43,673,298,115 43,345,091,976 50. Hedging derivatives 380,566,194 177,632,691 60. Remeasurement of financial asset backed by general hedging (+/-) (17,835,384) 69,926,666 70. Equity investments 555,013,411 555,844,762 80. Tangible assets 364,529,090 375,889,959 90. Intangible assets 404,096,521 414,575,705 Of which: - goodwill 240,060,423 240,060,423 100. Tax assets 167,631,785 188,181,419 a) current 1,925,496 23,321,124 b) deferred 165,706,289 164,860,295 120. Other assets 618,471,827 822,572,385 Total assets 55,040,260,960 54,981,110,197 Liabilities 09/30/2026 12/31/2025 10. Financial liabilities at amortised cost 50,067,553,561 50,277,759,144 a) due to banks 11,547,583,457 11,267,528,563 b) due to customers 33,957,023,915 34,493,012,095 c) outstanding securities 4,562,946,189 4,517,218,486 20. Financial liabilities held for trading 21,062,714 15,313,684 40. Hedging derivatives 355,249,769 482,187,737 50. Remeasurement of financial liabilities backed by general hedging (+/-) (262,465,806) (74,628,309) 60. Tax liabilities 144,505,998 88,618,886 a) current 57,300,753 - b) deferred 87,205,245 88,618,886 80. Other liabilities 1,601,360,147 1,060,894,338 90. Provisions for staff termination indemnities 17,753,147 19,192,569 100. Provisions for risk and charges: 151,301,270 172,962,768 a) commitments and guarantees given 5,675,588 6,247,437 b) pensions and similar commitments 811,110 937,112 c) other provisions 144,814,572 165,778,219 110. Valuation reserves (94,015,596) (69,329,202) 111. of which related to discontinued operations - 140. Reserves 2,147,840,492 1,991,313,459 150. Share premium reserves 321,799,668 321,799,668 160. Share capital 341,320,065 341,320,065 170. Treasury shares (-) (14,693,302) (20,009,852) 180. Profit (loss) for the period (+/-) 241,688,833 373,715,242 Total liabilities and shareholders’ equity 55,040,260,960 54,981,110,197
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PRESS RELEASE 17 CREDEM – INDIVIDUAL INCOME STATEMENT (€- PRELIMINARY FIGURES) Items 09/30/2026 09/30/2025 10. Interest income and similar revenues 1,039,509,552 1,001,657,126 of which: interest revenues calculated using the effective interest method 1,028,787,633 1,000,579,195 20. Interest expense and similar charges (488,725,259) (469,054,137) 30. Net interest income 550,784,293 532,602,989 40. commission income 392,801,227 376,912,746 50. commission expense (87,033,551) (87,130,103) 60. Net commissions 305,767,676 289,782,643 70. Dividends and similar revenues 6,433,447 6,213,862 80. Net result from trading activities 28,969,096 29,623,217 90. Net result from hedging activities (670,972) (1,005,889) 100. Profit (loss) from sale or repurchase of: 50,731,537 37,256,055 a) Financial assets at amortized cost 47,445,982 27,130,695 b) Financial assets at fair value through other comprehensive income 3,285,555 10,497,513 c) Financial liabilities - (372,153) 110. Net result from financial assets and liabilities at fair value through profit or loss 634,865 (43,335) b) other financial assets mandatorily measured at fair value 634,865 (43,335) 120. Operating income 942,649,942 894,429,542 130. Net value adjustments/write-backs due to impairment of: (15,902,091) (6,919,973) a) Financial assets at amortized cost (16,111,023) (7,566,123) b) Financial assets at fair value through other comprehensive income 208,932 646,150 140. Profit/loss from contractual changes without cancellations (192,179) (299,294) 150. Net income from financial activities 926,555,672 887,210,275 160. Administrative costs: (602,955,668) (576,214,290) a) personnel costs (348,708,661) (327,365,279) b) other administrative costs (254,247,007) (248,849,011) 170. Net provisioning for risk and charges: 4,653,849 (8,657,187) a) commitments and guarantees given 571,849 354,807 b) other net provisions 4,082,000 (9,011,994) 180. Net value adjustments/write-backs to tangible assets (27,751,047) (27,925,878) 190. Net value adjustments/write-backs to intangible assets (42,364,848) (38,508,803) 200. Other operating income/charges 124,865,949 209,795,862 210. Operating costs (543,551,765) (441,510,296) 250. Profit (loss) from disposal of investments 246,283 14,032 260. Profit (loss) before tax from continuing operations 383,250,190 445,714,011 270. Taxes on income from continuing operations (141,561,357) (114,290,386) 280. Profit (loss) after-tax from continuing operations 241,688,833 331,423,625 300. Profit (loss) for the period 241,688,833 331,423,625