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Banca Ifis PRESS RELEASE RESULTS FIRST HALF 2021 . Banca Ifis : net profit for the half year at 48,3 million Euro , up 31,5 % on the same period of 2020 Double digit growth in the first half for the Bank's revenues which reached 292,6 million Euro and reached an all time high , net of PPA ( 277 million Euro ) . Record also for cash recoveries of Npl portfolios purchased amounting to 170 million Euro . In an improving macroeconomic environment , more than 70 % of customers who had requested the moratorium resumed making regular payments . The programme for the digitisation of the Bank continues as planned . 2021 guidance : Banca Ifis estimates revenues between 540 and 560 million Euro and net income between 80 and 90 million Euro The guidance was prepared on the assumption that the macroeconomic environment is gradually improving , that there will be no shocks from new lockdowns in the United States , Europe or Italy and that governments and central banks will continue to support the economic recovery . Results first half 2021 Reclassified data¹ - 1 January 2021/30 June 2021 • Net banking income grew to 292,6 million Euro ( + 37,5 % compared to 30.06.2020 ) , benefiting from both the improved performance of the Npl Segment and the dynamism of the Commercial & Corporate Banking Segment . • Operating costs come to 178,2 million Euro ( + 14,6 % on 30.06.2020 ) due to higher variable costs linked to the legal business of the Npl Segment , the entry of Farbanca into the scope and ICT projects . • The Parent Company's net profit of 48,3 million Euro grows in two figures ( + 31,5 % ) on the 36,8 million Euro of the same period last year . It is an even more important result if we consider that the first half of 2020 benefited from an extraordinary capital gain of 24,2 million Euro and the related tax effect for the sale of the Milan property in Corso Venezia . • Cost of credit of 42,6 million Euro , including provisions of 9 million Euro in the Npl portfolio and 5 million Euro on loans , for the long - term effects of Covid - 19 . • Solid liquidity position : approximately 1,9 billion Euro at 30 June 2021 in reserves and free assets that can be financed by the ECB ( LCR above 1.700 % ) • Retail funding stable at 4,5 billion Euro . The portion tied up for more than 18 months increased compared to 31 December 2020 , accounting for 30,6 % of the total Capital requirements with the consolidation within La Scogliera CET1 at 11,44 % ( 11,29 % at 31 December 2020 ) with respect to an SREP requirement of 8,12 % ; TCR : 15,08 % ( 14,85 % at 31 December 2020 ) with respect to an SREP requirement of 12,5 % . These results are calculated without including the profits generated by the Banking Group during the first six months of 2021 . Capital requirements without the consolidation within La Scogliera² CET1 : 15,51 % ( 15,47 % at 31 December 2020 ) ; TCR : 19,86 % ( 19,87 % at 31 December 2020 ) . These results are calculated net of the profits generated by the Banking Group during the first six months of 2021 . 1 In the following statements , net impairment losses / reversals on receivables of the Npl Segment were reclassified to interest receivable and similar income to the extent to which they represent the operations of this business and are an integral part of the return on the investment . For this reason too , apart from the specific operations , the effects of an analysis performed also in response to the Covid - 19 pandemic , have been classified amongst value adjustments . 2 Consolidated own funds , risk - weighted assets and solvency ratios at 30 June 2021 were calculated based on the regulatory principles set out in Directive no . 2013 / 36 / EU ( CRD IV ) and Regulation ( EU ) no . 575/2013 ( CRR ) of 26 June 2013 , as updated and amended over time and transposed , where applicable , in the Bank of Italy's Circulars no . 285 and no . 286 of 17 December 2013. In particular , the CRR provides for the prudential consolidation of Banca Ifis in the holding La Scogliera . For the sake of disclosure , we calculated the same indicators without including the effects of the consolidation within La Scogliera . Therefore , the reported total own funds refer only to the scope of the Banca Ifis Banking Group , as defined in accordance with Italian Legislative Decree no . 385/93 , thus excluding the effects of the prudential consolidation within the parent company La Scogliera S.p.A. 1