InvestorNewsBreaks – illimity Continues Growth Path in Q3 2022, Eyes Accelerated Positive Trend

illimity Bank S.p.A.’s (“illimity” or the “Bank”) board of directors, chaired by Rosalba Casiraghi, has approved the illimity Group’s results as of Sept. 30, 2022. “Growth continued with the results for the third quarter. These are solid and in line with our forecasts, despite the fact that the scenario in which we operate has undergone a profound change since when we originally approved the budget,” said illimity CEO and Founder Corrado Passera. “illimity has been able to continue along its planned growth trajectory, which has enabled it to profitably affirm its various synergic core businesses on the market over a short period of time. The positive trend seen in 2022 will accelerate in the current quarter: October began with great momentum in terms of business origination and the advances in profitability dynamics will make it possible for us to end the year with a profit of at least 75 million euro, once again confirming our budget estimates. This is a result of particular interest because it includes important investments for the future. The three technological initiatives – b-ilty, Quimmo and Hype – have a combined effect of approximately 20 million euro in pre-tax losses; we expect that this negative result will drastically fall starting from 2023 and that the three initiatives will contribute to consolidated profit from 2024, creating significant value for the Group. We are also looking confidently at 2023: illimity has just successfully completed its fourth year of activity, and substantially completed its organizational structure. The business model has now become much more scalable thanks to the investments made and the critical size reached. Of particular satisfaction for all illimiters is the Best Place to Work certificate achieved at European level, as well as the flattering recognitions in ESG ratings.”

To view the full press release, visit https://ibn.fm/N87CQ

About illimity Bank S.p.A.

illimity is the high-tech banking group founded and led by Corrado Passera. A bank born without constraints, illimity is 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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