Banco di Sardegna confirms its positive momentum, with a net profit of 239 million euros. The Board of Directors met today, approving the preliminary results as of December 31, 2024. "The 2024 financial year, net of the capital gain from the sale of the stake in Bibanca, confirms its continuity with the excellent results of 2023 and constitutes the basis for continuing the path of sustainable growth undertaken in recent years", highlights Chairman Gianfranco Farre. "The achievement of a net profit of 239 million corresponds to a significant strengthening of the capital strength and the improvement of efficiency indicators: in terms of credit quality, bad debts have been almost eliminated and a gross and net NPE ratio of 1.91% and 0.96% respectively has been achieved, among the lowest in the system; the operating cost-income stood at 46.3%, the CET1 rose to 28%".
" The stock of customer loans", Gianfranco Farre highlights, "increased by 2.2% to 7.1 billion and total collections reached 19.7 billion (+7.1%), with direct collections reaching 12.1 billion, confirming the important role of the Bank in supporting the Territory and the great trust from our customers. These results were also achieved thanks to the constant and passionate commitment of all the Staff. We continue to invest in a multi-year plan for training and enhancing talent, recognizing the importance of developing the skills and abilities of each individual. The Bank stands out for its solidity, efficiency and sustainability, maintaining a constant commitment to promoting the economic and social development of Sardinia".
The Board of Directors has appointed Mauro Maschio as the new General Manager . Maschio succeeds Giuseppe Cuccurese , current General Manager and Director, who will retire after almost 13 years of service. «To Director Cuccurese», highlights the President of Banco di Sardegna, «go all our thanks for the significant contribution offered in recent years for the growth of the Bank and for the considerable results achieved. We welcome the new General Manager Mauro Maschio, already operational since November 2024 as Deputy General Manager».
Mauro Maschio has held numerous senior roles in the UniCredit Group, both in Italy and abroad, and boasts significant and diversified experience in the Retail, Corporate, Private and Digital Transformation sectors”.
(Online Union)