May 8, 2020 / 9:41 AM / 18 days ago

CORRECTED-BRIEF-BFF Banking Group Q1 Net Profit Up At EUR 23.1 Mln

(Corrects headline to show net profit was up not down)

May 8 (Reuters) - Banca Farmafactoring SpA:

* Q1 NET PROFIT EUR 23.1 MILLION VERSUS EUR 21.4 MILLION YEAR AGO

* Q1 OPERATING INCOME EUR 50.4 MLN VS EUR 45.7 MLN YEAR AGO

* CONFIRMS INTENTION TO DISTRIBUTE THE EUR 70.9 MLN OF 2019 EXPECTED CASH DIVIDEND AS SOON AS REGULATORS ALLOW

* FULLY OPERATIONAL SINCE THE BEGINNING OF THE LOCKDOWN, GOOD CLIENT PIPELINE AND COLLECTIONS VOLUME

* STRONG REDUCTION IN NET NPLS, WITH NET NPLS/LOANS RATIO DOWN TO 0.1% Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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