SFIL Group Investor Presentation
STRONG BALANCE SHEET AND CREDIT RATINGS
STRONG RESULTS IN THE PANDEMIC CONTEXT
SFIL - consolidated financial statement as of December
31st 2021
31/12/2020
31/12/2021
180
235
-112
-115
Results illustrate the resilience and
relevance of the public development
bank model of SFIL in the context of a
crisis of exceptional scale:
■ a strong and highly countercyclical
local public sector lending activity,
EUR M
Net banking income
Operating expenses
-
Gross operating income
68
119
Cost of risk
-9
3
Income before tax
62
122
Income tax
Net income
-18
-46
44
76
ongoing
conditions
turbulence,
excellent financing
despite
an excellent
market
fit with the low
interest rate environment through
the Group's bond issuance
Overall, net income increased to EUR
76 m compared to EUR 44 m in 2020,
the cost/income ratio stood at 52%
compared to 63% in 2020, and the
CET1 solvency increased to 34.6%
compared to 29.4% in 2020
13
SFIL Group Investor Presentation
March 2022View entire presentation