NetworkNewsBreaks – illimity Continues Growth Path in Q3 2022, Eyes Accelerated Positive Trend

illimity Bank S.p.A.’s (“illimity” or the “Bank”) board of directors, chaired by Rosalba Casiraghi, has approved the illimity Group’s results as of Sept. 30, 2022. “Growth continued with the results for the third quarter. These are solid and in line with our forecasts, despite the fact that the scenario in which we operate has undergone a profound change since when we originally approved the budget,” said illimity CEO and Founder Corrado Passera. “illimity has been able to continue along its planned growth trajectory, which has enabled it to profitably affirm its various synergic core businesses on the market over a short period of time. The positive trend seen in 2022 will accelerate in the current quarter: October began with great momentum in terms of business origination and the advances in profitability dynamics will make it possible for us to end the year with a profit of at least 75 million euro, once again confirming our budget estimates. This is a result of particular interest because it includes important investments for the future. The three technological initiatives – b-ilty, Quimmo and Hype – have a combined effect of approximately 20 million euro in pre-tax losses; we expect that this negative result will drastically fall starting from 2023 and that the three initiatives will contribute to consolidated profit from 2024, creating significant value for the Group. We are also looking confidently at 2023: illimity has just successfully completed its fourth year of activity, and substantially completed its organizational structure. The business model has now become much more scalable thanks to the investments made and the critical size reached. Of particular satisfaction for all illimiters is the Best Place to Work certificate achieved at European level, as well as the flattering recognitions in ESG ratings.” To view the full press release, visit https://nnw.fm/bb3mN About illimity Bank S.p.A. illimity is the high-tech banking group founded and led by Corrado Passera. A bank born without constraints, illimity is without the limits of the traditional system but with the solidity and seriousness of the best experiences. illimity provides credit to high-potential companies. For more information, visit www.illimity.com. About NetworkNewsWire NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only) For more information please visit https://www.networknewswire.com Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer NetworkNewsWire (NNW) New York, New York www.networknewswire.com 212.418.1217 Office Editor@NetworkNewsWire.com NetworkNewsWire is part of the InvestorBrandNetwork