Comment by the CEO
A solid and forward-looking group which made a break with its past during the best year since its establishment: this is how we may describe 2012 for Banca IFIS, a bank which is building its future with dogged determination and with the aim to write a small new chapter in that never-ending book about the role of banks in the life of Italy and of Europe as a whole.
The results achieved, starting with the strengthening of the Bank’s equity without increasing the share capital, make us proud and aware that in every sector and in every situation there are opportunities which can be grasped and transformed into new ventures only with an open-minded and critical approach.
Against this backdrop, we are aware that we have grown in size, as well as of our potential and of the challenges to which we may provide new answers; but we also know that a steadfast sense of responsibility is necessary to face unpredictable challenges.
Banca IFIS knows how to acknowledge the good work of the people it finances and must continue to select them on that basis, confirming its commitment towards virtuous companies. The Bank supports growth, it does not create it. The Bank supports virtous businesses, it does not make decisions in place of the entrepreneurs. Finally, the Bank chooses whether to act or not based on the principle that it will help those who deserve it and reject those who do not. This is Banca IFIS’s mission, and will quickly turn it into one of the top five players in the Italian market.
All this is the result of our focus on companies which innovate and export, as well as those companies which have receivables due from the Public Administration, paying attention to facilitating the completion of insolvency proceedings, thus freeing companies from receivables due from the tax authorities and helping to accelerate the reinvestment of capitals that are important for growth.
The NPL business area, which focuses on managing positions with counterparties often represented by struggling households, underwent significant changes. New instruments and processes will gradually take shape during the year, and the search for sustainable solutions will lead to a confirmed commitment towards the hundreds of thousands of people with payables due to the Bank. Sustainability, seriousness, and mutual respect will be the Group's tag lines as far as the collection of non-performing loans is concerned, where there is so much room for improving the quality of life of those who have been or are facing a difficult financial situation, often for reasons beyond their control.
New challenges emerged in retail funding: the most delicate is the launch of the crowd current account contomax, which joins the rendimax savings account and will allow us to offer a brand new product to our customers in a simple and fair relationship. Excellent service, internal efficiency, which means minimising product costs, and innovative products are, and will remain, the cornerstones of our funding operations.
The first few weeks of 2013 are similar in terms of situation and performance to the end of 2012.
Our commitment to and our support for bringing about an economic recovery are unchanged: we hope that 2013 will be the year in which anyone can hope to succeed through hard work, dedication, talent and vision.