InvestorNewsBreaks – illimity Announces Strong Continued Growth in Q3 2021

Nov 11, 2021

illimity Bank S.p.A. (“illimity” or the “Bank”) has announced approval of the illimity Group’s results at Sept. 30, 2021. According to the update, illimity reported continued solid financial and operating performance in the third quarter of 2021. This includes a net profit of 18.8 million euro (a 26% quarter-over-quarter increase from 14.9 million euro in the second quarter of 2021, and a 98% year-over-year increase from 9.5 million euro in the third quarter of 2020). This brings the net result for the first nine months of the year to 46.2 million euro, up by 90% over the corresponding period in 2020. “The world served by illimity, that of the small corporates, offers significant opportunities,” Corrado Passera, CEO and founder of illimity, said in the news release. “A growing number of corporates present ambitious projects to enhance their potential and many are on solid paths towards a turnaround. The increase in distressed corporate credit will also accelerate once the banking moratorium ends, and the role of banks such as illimity specialising in this market segment will prove itself fundamental.”

To view the full press release, visit https://ibn.fm/u5GC9

About illimity Bank S.p.A.

illimity is the high-tech banking group founded and led by Corrado Passera. A bank born without constraints: without the limits of the traditional system but with the solidity and seriousness of the best experiences. illimity provides credit to high-potential companies. For more information, visit www.illimity.com.

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