Page 15 - Consolidated Non Financial Statement

Banca Ifis

| 2020 Consolidated Non-Financial Statement
Business model
[GRI 102-2]
[GRI 102-6]
Banca Ifis operates on the Italian banking scene as speciality finance player.

The Group operates in highly profitable business segments, with proven managerial skills, exclusive know-how and
acknowledged good standing. It boasts a solid, profitable business model that is sustainable over time and is hinged on
specialisation and diversification.

Specialisation in financial services for businesses and the acquisition and management of non-performing loans
secures a competitive advantage: the strength to be able to play a forefront role, thanks to a solid track record.
Diversification also ensures stability and makes it possible to reduce the business risk.

Below is a representation of the main characteristics of the business model:

Starting October 2020, the second wave of COVID-19 led the governments of a great many countries, including Italy, to
once again restrict mobility or impose lock-downs to varying degrees, in a bid to limit the growth of contagion. These
measures are continuing into the early months of 2021.

The current scenario makes all forecasts regarding both the duration and scope of the new containment/lock-down
measures uncertain. We therefore expect to see the first part of 2021 still impacted by restrictions, whilst during the
second half of the year, the progressive roll-out of vaccines should support a return to normality and the recovery of the
Bank’s businesses and macroeconomic context.
The current economic crisis is very different from previous ones, not only insofar as it has been brought about by a
pandemic, but also in terms of the support offered by central banks and governments, which is unparalleled in recent
decades. The main uncertainties relate to the speed of the economic recovery and the effectiveness of the government
stimulation measures, which will be key in defining the macroeconomic context.

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