illimity Bank Boosts Profits and Tech Assets with New Partnership

illimity Bank SpA (IT:ILTY) has released an update.

illimity Bank has reported a net gain of 54 million euros for the first nine months of 2024, alongside a strategic agreement with Apax Partners to create a new technology player in AI and banking services. The bank’s shift away from non-performing exposure portfolios has strengthened its capital position and increased its focus on lending to SMEs, resulting in a net profit of 31 million euros and a 24% increase in fees. This strategic repositioning and new partnership are expected to enhance illimity’s technological edge and future profitability.

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