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Banca Ifis PRESS RELEASE RESULTS FOR THE FIRST THREE MONTHS OF 2021 Banca Ifis : net profit for the quarter comes to 20,1 million Euro with two - figure growth seen in revenues from core business The first quarter of 2021 saw an all - time high recorded for cash collections on Npl portfolios acquired , which came to 81 million Euro ( + 24 % ) coupled with excellent performance in revenues from commercial and corporate banking ( + 21 % ) on the same period of last year . Faced with an improving macroeconomic context , positive signs are recorded by customers : more than a third have chosen to resume payments of the instalments that had benefited from moratoriums , early . Concrete commercial contributions from the digitisation of business . Capital ratios have improved further ; liquidity position and quality of assets are amongst the best in class . • Equity position strengthened with CET1 at 11,77 % , ( + 0,48 % on 31 December 2020 ) Net banking income totalled 137,7 million Euro , up 30 % from the first quarter of 2020 • Cost of credit¹ of 16 million Euro , including 8 million Euro in additional provisions made on performing exposures under the scope of the additional prudence applied in respect of the Covid - 19 scenario • Solid liquidity position : approximately 1,2 billion Euro at 31.03.2021 in reserves and free assets that can be financed by the ECB ( LCR above 1.400 % ) • Retail funding stable at 4,5 billion Euro Dividend of 0,47 Euro per share scheduled for payment on 26 May First quarter 2021 results Reclassified data¹ - 1 January 2021/31 March 2021 • Net banking income up to 137,7 million Euro ( + 30 % on 31.03.2020 ) , benefiting from the macroeconomic recovery and progressive normalisation of the Npl business . • Operating costs at 91,3 million Euro ( + 24,2 % on 31.03.2020 ) due to higher variable costs linked to the legal business of the Npl Segment , the entrance of Farbanca into the scope and new ICT projects . • Net profit of 20,1 million Euro , up 10 million Euro on the first quarter of last year ( excluding the extraordinary capital gain of 24,2 million Euro from this and the related tax effect due to the sale of the Milan property in Corso Venezia ) . Capital requirements with the consolidation within La Scogliera CET1 up to 11,77 % ( 11,29 % at 31 December 2020 ) with respect to an SREP requirement of 8,12 % ; TCR : 15,47 % ( 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 three months of 2021 . Capital requirements without the consolidation within La Scogliera² CET1 : 15,97 % ( 15,47 % at 31 December 2020 ) ; TCR : 20,51 % ( 19,87 % at 31 December 2020 ) . These results are calculated net of the profits generated by the Banking Group during the first three months of 2021 . 1 Net credit risk losses of the Npl Segment were entirely reclassified to Interest receivable and similar income to present more fairly this particular business , as they represent an integral part of the overall return on the investment . 2 Consolidated own funds , risk - weighted assets and solvency ratios at 31 March 2021 were calculated based on the regulatory principles set out in Directive 2013 / 36 / EU ( CRD IV ) and Regulation ( EU ) 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