Intesa Sanpaolo analyst Manuela Meroni maintained a Hold rating on illimity Bank SpA yesterday and set a price target of €4.10.
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Manuela Meroni has given her Hold rating due to a combination of factors impacting illimity Bank SpA. The bank recently reported a significant net loss of EUR 118 million for the second quarter of 2025, which was largely anticipated due to prior announcements of a jumbo loss. This loss stemmed from valuation activities on assets and credit exposures, leading to substantial loan loss provisions and write-offs.
Despite these challenges, the bank’s CET1 ratio remains relatively stable, although it has slightly decreased from previous levels. The upcoming delisting of illimity and the urgency for Banca IFIS to initiate reorganization and derisking processes are also critical factors. These steps are expected to help achieve planned synergies and restore profitability, but the current uncertainties justify a Hold rating until more clarity is provided through Banca IFIS’s new business plan expected in the first half of 2026.
According to TipRanks, Meroni is a 3-star analyst with an average return of 13.2% and a 70.00% success rate.