illimity Bank Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Corrado Passera

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	no data
CEO ownership	n/a
Management average tenure	no data
Board average tenure	3.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Corrado Passera's remuneration changed compared to illimity Bank's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	€60m
Jun 30 2024	n/a	n/a	€75m
Mar 31 2024	n/a	n/a	€107m
Dec 31 2023	n/a	n/a	€104m
Sep 30 2023	n/a	n/a	€100m
Jun 30 2023	n/a	n/a	€96m
Mar 31 2023	n/a	n/a	€67m
Dec 31 2022	€2m	€680k	€75m
Sep 30 2022	n/a	n/a	€70m
Jun 30 2022	n/a	n/a	€69m
Mar 31 2022	n/a	n/a	€68m
Dec 31 2021	€2m	€634k	€65m
Sep 30 2021	n/a	n/a	€53m
Jun 30 2021	n/a	n/a	€44m
Mar 31 2021	n/a	n/a	€39m
Dec 31 2020	€555k	€530k	€31m
Sep 30 2020	n/a	n/a	€26m
Jun 30 2020	n/a	n/a	€10m
Mar 31 2020	n/a	n/a	-€6m
Dec 31 2019	€530k	€530k	-€16m

Compensation vs Market: Insufficient data to establish whether Corrado's total compensation is reasonable compared to companies of similar size in the UK market.

Compensation vs Earnings: Corrado's compensation has been consistent with company performance over the past year.

CEO

Corrado Passera

no data

Tenure

€2,029,155

Compensation

Mr. Corrado Passera serves as Chief Executive Officer and Director of illimity Bank SpA (formerly known as Banca Interprovinciale SpA). He is Founder of illimity Bank S.p.A. He began his career at McKinsey...

Board Members

Name	Position	Tenure	Compensation	Ownership
Corrado Passera	Founder	no data	€2.03m	no data
Ernesto Riva	Chairman of the Board of Statutory Auditors	no data	€22.69k	no data
Rosalba Casiraghi	Chairman	no data	€194.86k	no data
Massimo Brambilla	Director	no data	€56.76k	no data
Paola Elisabetta Galbiati	Director	3.8yrs	€71.76k	no data
Nadia Fontana	Director	no data	€69.00k	no data
Stefano Caringi	Director	no data	€69.64k	no data
Marcello Valenti	Director	3.8yrs	€75.00k	no data
Giovanni D'Intignano	Director	no data	€71.76k	no data
Francesca Tans	Director	2.9yrs	€53.52k	no data
Marco Bozzola	Director	no data	€60.19k	no data
Elena Ciallie	Independent Director	no data	€81.76k	no data

3.8yrs

Average Tenure

66yo

Average Age

Experienced Board: 0A3J's board of directors are considered experienced (3.8 years average tenure).

illimity Bank Management

Management criteria checks 2/4

Key information

Recent management updates

Less than half of directors are independent

Less than half of directors are independent

illimity Bank S.p.A., Annual General Meeting, Apr 28, 2022

Recent updates

Investor sentiment deteriorates as stock falls 17%

Third quarter 2024 earnings released: EPS: €0.097 (vs €0.27 in 3Q 2023)

Second quarter 2024 earnings released: EPS: €0.15 (vs €0.53 in 2Q 2023)

Upcoming dividend of €0.25 per share

First quarter 2024 earnings released: EPS: €0.13 (vs €0.093 in 1Q 2023)

Now 20% undervalued after recent price drop

Full year 2023 earnings released: EPS: €1.25 (vs €0.93 in FY 2022)

New major risk - Revenue and earnings growth

illimity Bank S.p.A. to Report First Half, 2024 Results on Aug 07, 2024

Third quarter 2023 earnings released: EPS: €0.27 (vs €0.23 in 3Q 2022)

illimity Bank S.p.A. to Report Q3, 2023 Results on Nov 09, 2023

illimity Bank S.p.A. to Report Q2, 2023 Results on Sep 01, 2023

Second quarter 2023 earnings released: EPS: €0.53 (vs €0.20 in 2Q 2022)

New minor risk - Shareholder dilution

First quarter 2023 earnings released: EPS: €0.093 (vs €0.20 in 1Q 2022)

Full year 2022 earnings released: EPS: €0.93 (vs €0.87 in FY 2021)

Full year 2022 earnings released: EPS: €0.90 (vs €0.87 in FY 2021)

Less than half of directors are independent

Third quarter 2022 earnings released: EPS: €0.23 (vs €0.25 in 3Q 2021)

Now 20% undervalued after recent price drop

Now 21% undervalued after recent price drop

Second quarter 2022 earnings released: EPS: €0.20 (vs €0.20 in 2Q 2021)

illimity Bank S.p.A. (BIT:ILTY) reached an agreement to acquire Italian non-performing loans portfolio from UniCredit S.p.A. (BIT:UCG).

First quarter 2022 earnings released: EPS: €0.20 (vs €0.17 in 1Q 2021)

illimity Bank S.p.A. (BIT:ILTY) entered into an agreement to acquire Aurora Recovery Capital Spa from Finance Roma S.P.A., Gwm Group Holding S.a. and Oxalis Holding S.à r.l.

Less than half of directors are independent

Full year 2021 earnings released

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

illimity Bank S.p.A., Annual General Meeting, Apr 28, 2022

Third quarter 2021 earnings released: EPS €0.26 (vs €0.14 in 3Q 2020)

Second quarter 2021 earnings released: EPS €0.20 (vs €0.16 in 2Q 2020)

illimity Bank S.p.A. Provides Earnings Guidance for the Fiscal Year 2021 and 2023

ION Group to Take Stake in Illimity

First quarter 2021 earnings released

Full year 2020 earnings released: EPS €0.47 (vs €0.25 loss in FY 2019)

Revenue beats expectations

New 90-day high: €9.87

Phinance Partners S.P.A. and Sorec S.r.l. acquired Portfolio of Non-Performing Loans of illimity Bank Spa.

New 90-day high: €9.33

Third quarter 2020 earnings released: EPS €0.14

Intesa Reportedly Receives Bids for Leasing Unit and NPL Portfolio

New 90-day high: €9.15

IFIS NPL S.p.A. acquired NPL portfolio from illimity Bank S.p.A. (BIT:ILTY).

Earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation

Board Members

Average Tenure

Average Age