Banca Sistema Reports Strong Profits and Growth

Banca Sistema S.p.A. (IT:BST) has released an update.

Banca Sistema S.p.A. reported a strong financial performance for the period ending September 2024, with a net profit increase of 27% year-on-year, excluding provisions for systemic risks. The company saw significant growth in its factoring and pawn loan sectors, with factoring turnover reaching €4,000 million, up 12% from the previous year. Despite a slowdown in new CQ production, the company’s net interest margin and pre-tax profit showed substantial year-on-year growth.

For further insights into IT:BST stock, check out TipRanks’ Stock Analysis page.