In Q3-24 gross revenues (including intersegment distribution revenues) were up 13.5% y/y to €1.6bn (€4.7bn in 9M-24, +4.4% y/y).
Q3-24 external revenues at €1.4bn, +13.9% y/y (€4.0bn in 9M-24, +4.9% y/y).
Q3-24 Net Interest Income up to €648m, +14.5% y/y (€1.9bn in 9M-24, +12.9% y/y), driven by higher interest rates and proactive portfolio management activity, enabling an increased visibility on future portfolio returns.
Postal savings’ distribution fees were at €430m in Q3-24 up 15.1% y/y (€1.3bn in 9M-24, +6.0% y/y). Net outflows were driven by high maturities, mitigated by the strong success of new commercial initiatives, leading to €7.0bn inflows of premium products.
In Q3-24 Consumer loans’ distribution fees were at €55m up 95.8% y/y (€176m in 9M-24, +32.7% y/y), confirming the improving trend with higher volumes and fee margins.
Transaction banking fees were at €180m, broadly stable (-3.0% y/y) in the quarter (€546m in 9M-24, -4.8% y/y), reflecting the same current account pricing as in Q3-23.
Fees from asset management were up at €45m, 15.0% y/y (€142m in 9M-24, +32.7% y/y), supported by higher Assets Under Management.
Total Financial Assets reached €593bn in 9M-24, up €12bn from December 2023, as Poste Italiane continues to adapt its offer to meet evolving client needs in order to have a compelling financial proposition in all market environments. Net inflows of investment products came in at €3.9bn year to date, driven by record high net inflows in Mutual Funds and positive Life Investments & Pension net flows in a challenging market environment, supported by the launch of new products.
Q3-24 Adjusted EBIT at €226m, +17.7% y/y (€642m in 9M-24, -0.9% y/y), reflecting revenue trends.
