Business Model3Q24 results confirmed the modest profitability of the current business model, after the disengagement from the NPL investing business, in the current interest rate scenario.
Market SentimentThe momentum is weak: profitability is penalised by declining interest rates while uncertainties on the asset valuation and company strategy could penalise the stock market in the shorter run.
ProfitabilityThe reshaping of the business out of NPL direct investments reduced the revenue generation without a material release of capital, thus putting pressure on the company profitability and its ability to proceed with the balance sheet growth strategy.