Aosta/Trento, 12.02.2025 – The Board of Directors of BCC Valdostana has reviewed the preliminary results for the 2024 financial year, which confirm the successful completion of the economic and financial recovery process initiated in 2018 with the strategic support of the Parent Company Cassa Centrale Banca, represented at the board meeting by CFO Alessandro Failoni.
The path undertaken by the Bank over these years, along with the constant support from the Parent Company, has led to improved profitability and asset quality, elevating the capital adequacy ratios to excellent levels. This has enabled the early repayment of all support instruments previously entered into by the Parent Company to provide the necessary financial and capital contributions.
In particular, the Bank's solidity is confirmed by the upward trend in net income, which returned to positive territory in 2019 and has progressively increased, surpassing €10 million. Additionally, the CET1 ratio has risen above 20% over the years. At the same time, asset quality has significantly improved, with the net NPE ratio (the incidence of net non-performing loans on the loan portfolio) falling to well below 1%. The achievement of operational efficiency is reflected in a cost/income ratio close to 50%.
“The successful completion of the recovery process,” stated BCC Valdostana Chairman Davide Adolfo Ferré, “demonstrates how the tremendous commitment of the people working at BCC Valdostana, along with the synergies developed with the Parent Company through its continuous support, have made it possible to preserve the Bank’s territorial specificity and uniqueness. They have also allowed us to strengthen and enhance our closeness to the local community and our shareholders, while reinforcing the spirit and mutual goals of our Cooperative Banking Group, which we are proud to have chosen”.
“On behalf of the Parent Company and the entire Group, I express great satisfaction with the recovery process completed by BCC Valdostana,” stated Sandro Bolognesi, CEO of Cassa Centrale Banca. “It is a journey in which we have always strongly believed, ruling out aggregation options, given the value that the only Cooperative Credit Bank in the Aosta Valley holds for its communities”.