Preliminary results for the first half of 2025 have been approved, recording an individual and consolidated net profit of 38.7 million euros and 37.1 million euros, respectively.
Customer fiduciary assets rose (+175 million from December 2024), particularly driven by growth in administered and managed savings, while direct funding remained substantially stable compared to December 2024.
Customer loans increased compared to 31/12/2024 (+1.19% versus +0.3% recorded by the Italian banking system in the same period).
Capital solidity continued to strengthen: CET1 Ratio at 17.6%, Tier 1 Ratio at 19.5%, and Total Capital Ratio at 23.3%.
Liquidity position remained robust, with a Liquidity Coverage Ratio (LCR) at 303.8% and a Net Stable Funding Ratio (NSFR) at 175.7%.
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The Board of Directors of Cassa di Risparmio di Asti S.p.A. ("Banca di Asti"), in today’s meeting, approved the preliminary individual and consolidated financial and balance sheet results at 30 June 2025.
The results achieved by the Group at 30 June 2025 confirm its solid profitability, with an annualized ROE of 6.62%, as well as a further strengthening of structural solidity:
In particular, the soundness of the capital position is summarized by the following capitalization ratios:
| Banca di Asti | Pitagora | Gruppo | |
| CET1 Capital Ratio | 19,4% | 16,3% | 17,6% |
| T1 Capital Ratio | 21,4% | 16,3% | 19,5% |
| Total Capital Ratio | 25,4% | 16,3% | 23,3% |
Group fiduciary assets totaled 19 billion euros, of which 17.6 billion euros referred to customer assets, up 1% versus 31/12/2024.
Customer loans amounted to 7.4 billion euros, marking an increase over the previous year (+1.19%). Credit disbursements totaling around 1.2 billion euros confirm the Group’s concrete commitment to supporting households and businesses and to fostering the development of its served territories.
Asset Quality indicators remained substantially in line with those of December 2024, with a net NPL ratio of 2.99% and net bad loans at 0.54%. The Group's de-risking strategy aimed at significantly reducing NPL ratios is confirmed, with corresponding operational measures planned for the second half of the current financial year.”
Operating costs amounted to 136 million euros, down compared to 30/06/2024 (-4.0 million euros, -2.9%). The cost/income ratio stood at 62.83%.
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CONSOLIDATED RESULTS OF CASSA DI RISPARMIO DI ASTI GROUP AT 30/06/2025
The preliminary data at 30 June 2025 confirm the Group’s profitability, operational efficiency, and structural robustness in terms of liquidity and capital indicators, which remain significantly above the minimum regulatory requirements set by the Supervisory Authority as part of the periodic SREP process.
The results of the first half of 2025 confirm the validity of the 2025–27 Strategic Plan and the effectiveness of its guidelines, as well as the Group’s ability to implement them, demonstrating resilience and adaptability in a highly volatile and uncertain economic context.
In a complex market environment, the Group achieved a net profit of 37.1 million euros and a ROE of 6.62%.
Total funding amounted to 19 billion euros, essentially stable compared to 31/12/2024. Direct funding from customers amounted to 10.6 billion euros, in line with 2024, while indirect funding stood at 8.4 billion euros (+1.35% compared to 31/12/2024), of which 5.3 billion euros were in managed savings and 3.1 billion euros in administered savings, increasing by 1.1% and 1.8%, respectively, compared to 31/12/2024.
Net customer loans, entirely represented by economic loans, amounted to 7.4 billion euros, up 1.19% compared to 31/12/2024. The disbursement of around 1.2 billion euros in new financing enabled the Group to achieve better results than the Italian banking system over the same period (+0.3%).
Net interest income amounted to 128.12 million euros, down 16.94% compared to 30 June 2024, reflecting the impact of interest rate trends shaped by macroeconomic conditions.
Net adjustments on loans during the half-year totaled 19.3 million euros, resulting in a cost of risk of 0.46%.
Gross and net NPL ratios stood at 5.21% and 2.99%, respectively. The Group reaffirmed its de-risking strategy aimed at significantly reducing NPL ratios, with the corresponding operational actions planned for the second half of the current year.
The coverage ratio for non-performing loans was 44.33%. Specifically, net bad loans accounted for 0.54% of total net loans, with a coverage ratio of 59.39%.
Net operating income amounted to 198.6 million euros (+25.33% compared to 30 June 2024), including:
Dividends received from equity investments totalled €10.2 million, a figure largely unchanged from the first half of 2024, and mostly attributed to the Group’s stake in Banca d’Italia.
Operating costs totaled 136 million euros, down 2.9% compared to June 2024.
The Group continued to pursue its initiatives in line with its strategic goals, focused on improving efficiency while also investing in commercial development, human capital, modernization, and digitalization of client services and work processes through a series of targeted projects designed to effectively achieve its medium- to long-term objectives while staying true to its corporate values.
At 30 June 2025, the cost/income ratio, corresponding to the ratio between operating costs and gross operating margin, stood at 62.83%.
Consolidated own funds at 30 June 2025 amounted to 1,209.6 million euros.
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BANCA DI ASTI S.P.A. RESULTS AS AT 30/06/2025
KEY RESULTS FOR SUBSIDIARY PITAGORA S.P.A. AS AT 30/06/2025
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Attached are the reclassified balance sheet and income statement both separate and consolidated related to the voluntary disclosure of preliminary results for the first half of 2025 for Banca di Asti, which have not been subject to audit by the audit firm. It should be noted that the financial information reported in this release does not constitute, nor has it been extracted from, separate or consolidated financial statements prepared in accordance with the applicable international accounting standards IAS/IFRS.
The separate and consolidated half-yearly reports of Banca di Asti as of 30 June 2025, prepared in accordance with the applicable international accounting standards IAS/IFRS and not subject to audit by the audit firm, will be submitted for approval to the Banca di Asti Board of Directors expected by the end of September 2025 and, therefore, they must be considered subject to changes, including significant ones, in light of events, facts, and/or circumstances occurring after the date of this release or as a result of the analyses and assessments currently underway for the preparation of said reports.
These documents will be made available to shareholders within the timeframes set by the applicable legal and regulatory provisions.
Contacts
| Elena Rossignoli Head of Legal and Corporate Affairs Department tel 0141 393 510 e mail [email protected] | Roberta Viarengo Head of General Secretariat and Shareholders’ Office tel 0141 393 258 e mail [email protected] |
Issued via SDIR 1Info on 07.08.2025 at 16:25