(Alliance News) - After its brilliant 2023 accounts, with an all-time high net profit of EUR160.1 million and EUR2.1 coupon per share, Banca Ifis Spa has collected new promotions from analysts.

The stock of the bank chaired by Ernesto Fürstenberg Fassio and led by CEO Frederik Geertman currently trades around EUR16.45 but KBW sees growth margins with a target price of EUR19.7. The rating assigned to the bank is 'outperform', "due to the soundness of the business model and strong capital requirements."

Rising to EUR21.5 per share, on the other hand, is the target price given by Equita, which applauds compliance with earnings guidance and maintains a 'hold' rating on the challenger bank.

'Buy' rating for BNP Paribas analysts, who see the bank in line with the growth plan and, for this reason, identify a target price between EUR21 and EUR24 per share.

In 2023, the bank's net interest income stood at EUR566.2 million from EUR548.3 million as of December 31, 2022. Net interest and other banking income was EUR704.6 million from EUR680.5 million in 2022.

CET 1 ratio was 14.87 percent from 15.01 percent as of December 31, 2022 while TCR was 17.44 percent from 18.82 percent as of December 31, 2022. Both were calculated including profits generated by the banking group in 2023 net of dividends.

Banca Ifis stock trades in the red by 0.6 percent at EUR16.46 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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