Manuela Meroni, an analyst from Intesa Sanpaolo, maintained the Buy rating on Banca Ifis SPA. The associated price target remains the same with €25.50.
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Manuela Meroni has given his Buy rating due to a combination of factors surrounding Banca Ifis SPA’s recent performance and strategic positioning. The company’s second-quarter results for 2025 exceeded both internal and consensus expectations, largely driven by stronger-than-anticipated trading income. This positive financial performance underscores the bank’s ability to generate revenue through its NPL and G&S divisions, despite a decline in net interest income.
Additionally, Banca Ifis maintains a robust capital base with a CET1 ratio of 14% post-merger with illimity, even after accounting for a significant loss reported by illimity. The bank’s management is expected to streamline illimity’s corporate structure and deliver on promised synergies, which could further enhance operational efficiency. Moreover, the stability in asset quality and a reinforced liquidity position contribute to a favorable outlook, supporting the Buy recommendation.
0NBX’s price has also changed slightly for the past six months – from EUR20.940 to EUR21.780, which is a 4.01% increase.