tiprankstipranks
illimity Bank Boosts Profits and Tech Assets with New Partnership
Company Announcements

illimity Bank Boosts Profits and Tech Assets with New Partnership

illimity Bank SpA (IT:ILTY) has released an update.

Don't Miss Our Christmas Offers:

illimity Bank has reported a net gain of 54 million euros for the first nine months of 2024, alongside a strategic agreement with Apax Partners to create a new technology player in AI and banking services. The bank’s shift away from non-performing exposure portfolios has strengthened its capital position and increased its focus on lending to SMEs, resulting in a net profit of 31 million euros and a 24% increase in fees. This strategic repositioning and new partnership are expected to enhance illimity’s technological edge and future profitability.

For further insights into IT:ILTY stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Italy Auto-Generated NewsdeskIllimity Bank Partners with Finwave for AI Venture
TipRanks Italy Auto-Generated Newsdeskillimity Bank Sees Stable Ratings from Moody’s
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App