The SBU’s operating results for the year continued to be solid, albeit slightly lower than in the previous year. The revenue recovery that began in June continued steadily into the second half of the year with last quarter revenue in line with the same quarter in 2019.
The CET 1 ratio at December 2020 stood at 18.1%, confirming BancoPosta’s capital strength.
2020 of the sector
RESULTS AND KPIs
| FINANCIAL SERVICES (€m) | 2019 | 2020 | CHANGES | |
| External revenue | 5,135 | 4,945 | (190) | -3.7% |
| Revenue from other sectors | 691 | 665 | (25) | -3.7% |
| Total revenue | 5,826 | 5,610 | (215) | -3.7% |
| Costs | 151 | 87 | (64) | -42.6% |
| Costs vs other sectors | 4,801 | 4,658 | (142) | -3.0% |
| Total costs | 4,951 | 4,745 | (207) | -4.2% |
| EBIT | 874 | 866 | (9) | -1.0% |
| EBIT Margin % | 15.0% | 15.4% | ||
| NET PROFIT | 640 | 647 | +7 | +1.1% |
| Main KPIs | 2019 | 2020 | CHANGES | |
| Total financial assets (€bn) | 536 | 569 | 33 | 6.1% |
| Net inflows (€m) | 2,950 | 17,827 | 14,878 | 504.4% |
| Unrealized capital gains/(losses) (€m) | 1,115 | 4,653 | 3,539 | 317.5% |
| Net capital gains (€m) | 339 | 365 | 26 | 7.7% |
| Current accounts (average deposits for the period in €bn) | 61.9 | 67.4 | 5.5 | 8.9% |
| Investment portfolio return* | 2.57% | 2.30% | ||
| Postal savings (average deposits in €bn) | 310.4 | 315.6 | 5.3 | 1.7% |
| Loans (disbursed in €m) | 3,583 | 2,932 | (651.5) | -18.2% |
* Excluding capital gains.
EXTERNAL REVENUE (€m)
ROAD TO 2024
“2024 Sustain & Innovate” Strategy
Most trusted financial institution in Italy, benefiting from an omni-channel approach
- Promoting diversification in asset allocation
- Expansion of omni-channel for the Customer
- Integration of non-life coverage into the investment offering
| SEGMENT | OPERATING REVIEW | PILLAR | |
| Postal Savings | Developed new interest-bearing postal certificates |  | |
| Continued marketing of Supersmart offers |  | ||
| New solution implemented to subscribe to Certificates dedicated to minors | | ||
| Current accounts | Provided tax credit transfer service and implemented new promotions on the issue | | |
| Strengthened digital offer channel for retail current account products | | ||
| Developed service model for Premium customers | | ||
| Implemented promotions for Business and PA current accounts | | ||
| Developed new current account service for the Small Business segment | | ||
| Asset management | Developed new Mutual Investment Funds |  | |
| Renewed and expanded the range of First and multi-class life policies | | ||
| Renewed and concluded Obelisco Fund protection initiative | – | ||
| Distribution of third-party products |  | Evolution of Poste Italiane’s offer to cope with the Covid-19 pandemic | |
| Implementation of the product for the advance redundancy payments and special arrangements for BancoPosta and Postepay Evolution customers | | ||
| Developed new initiatives for BancoPosta loan holders | | ||
| Other activities | Renewed three-year agreement with the Ministry of Economy and Finance (MEF) for the regulation of treasury services and the movement of funds on behalf of the State | | |
| Developed a new model of remote consulting for the placement of investment products | | ||
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