- The Group’s net profit increased to EUR 1,168 million (EUR 871 million in 2023).
- Capital position at the top of the Italian national banking system (CET1 ratio of 26.8%)
- Support for local communities with over 20,000 initiatives, for over EUR 52 million
- Chair, Giorgio Fracalossi, and Chief Executive Officer, Sandro Bolognesi, were confirmed. Maria Cristina Zoppo, Chair of the Board of Statutory Auditors
- The Group’s commitment to Sustainability issues continues
- The Group has over 12,000 employees and around 1,500 branches
Trento, 05.06.2025 – The Shareholders' Meeting of Cassa Centrale Banca, which met today in Milan under the chairmanship of Giorgio Fracalossi, approved the separate financial statements and examined the consolidated financial statements containing the first consolidated Sustainability Report for 2024.
The year 2024 closed with a consolidated net profit of EUR 1,168 million, up 34% on 2023 (EUR 871 million).
The growth was driven by new loans disbursed for EUR 8.6 billion (+6.3% year on year), a net credit exposure of EUR 48.6 billion (+1.5% in the year) and growth of total deposits to EUR 120 billion, of which 71 in direct funding and 49 in indirect funding (respectively + 6.7% and 11% in the year).
With a CET1 ratio of 26.8%, the capital position is confirmed as being at the top of the national banking system, as with the quality of the assets that have a net NPL ratio of 0.7% and a coverage ratio of 81%.
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The Consolidated Sustainability Report for the year 2024 was submitted to the meeting, prepared pursuant to the Corporate Sustainability Reporting Directive (CSRD) and Italian Legislative Decree no. 125/24. The results show the Group's continuous commitment to sustainability issues with specific reference to the environment, personnel, communities, shareholders and customers, and governance.
Bucking the trend for banks to gradually reduce the number of branches, the Group has focused on its presence in the territories and development of the local communities in which it operates: it is the only banking entity present in 329 municipalities (227 of which having less than 3,000 inhabitants).
The 12 thousand People plus who work in the Group - a number that is constantly growing - have benefited from 715 thousand hours of training. The percentage of women grew to 44%; the Group's attention to young talent is also confirmed, with 50% of new hires under 30 years of age.
In 2024, the Group paid EUR 34.7 million to Mutual Funds for the development of Cooperation and supported more than 20,000 initiatives, for a total of EUR 52.6 million, with a wide-ranging number of actions taken to support social welfare, sport and leisure, culture, training and research.
During the three-year period 2022 - 2024, the Group reduced carbon dioxide emissions[1] by 28.2% thanks to a decrease in consumption and an increase in the purchase of energy from renewable sources which reached 97.4% of the total.
The results of the Group's sustainable path and the current projects are published in the updated “Sustainability” section of the website www.cassacentrale.it.
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The Shareholders' Meeting therefore renewed the corporate bodies, appointing the 15 members of the Board of Directors for the three-year period 2025 - 2027. The Chair, Giorgio Fracalossi and the Acting Deputy Chair, Carlo Antiga were confirmed, as well as the Directors Sandro Bolognesi, Enrica Cavalli, Giorgio Pasolini, Livio Tomatis and Roberto Tonca. The Directors Antonio Convertini, Giuseppe Di Forti and Stefano Marzioli, all members of the shareholder Banks, as well as the external director Ketty Camuffo, representing the Shareholder DZ Bank AG, were newly appointed. With regard to the four independent Directors, the representative Enrico Macrì was confirmed and the representatives Roberta Berlinghieri, Paola Giannotti De Ponti and Maria Rosa Molino were newly elected.
At the inaugural meeting that followed the Shareholders' Meeting, the Board of Directors confirmed the General Manager Sandro Bolognesi as Chief Executive Officer.
Maria Cristina Zoppo (Chair), Alessandro Paolini (Standing auditor) and Lara Castelli (Standing auditor) were elected to the Board of Statutory Auditors; the Alternate Auditors comprise Anna Maria Allievi and Maurizio Giuseppe Grosso.
The Chair, Giorgio Fracalossi, and the Chief Executive Officer, Sandro Bolognesi said “The excellent results presented today at the Shareholders' Meeting confirm the success of our service model which focuses on improving the moral, cultural and economic conditions of the Cooperative Members and Local Communities, promoting the development of cooperation and education on savings and pensions, social cohesion and responsible and sustainable growth of the territories in which the Group operates”.
They continued by saying “This confirmation of our identifying values goes hand in hand with the significant progress resulting from the sustainable path we chose to follow. Sustainability Reporting in this sense is a great opportunity to improve further, starting from concrete data and ensuring our Cooperative Banking Group is always kept up-to-date".
[1] Scope 1 and 2