limitlessness, the first digital bank in Italy to have previously signed a deal with SPAC, has extended its strategic plan for the period 2021 to 2025.and an income in 2020 of 31 million euros After a net loss of € 16.1 million in 2019, Illimity expects a net profit of € 60-70 million in 2021. Illimity projects a net profit of over € 240 million by 2025.
As previously reported, Illimity’s revenue comes primarily from its lending activities. The Bank intends to focus more on SMEs, including:
- corporate lending: a € 700 billion market where Illimity says it has become a reference player in two years of operations, disbursed about € 1 billion in corporate loans and has also taken a key position in the acquisition finance sector;
- unlikely to repay (“UTP”) corporate loans: a fast-growing market where more than € 35 billion of transactions are expected to occur between 2021 and 2025, and where Illimity is already positioned as a leading operator;
- Corporate non-performing loans: A market that is projected to have more than € 140 billion in transactions between 2021 and 2025, and in which Unlimited claims it has already managed to become one of the largest private investors in the last two years.
According to the bank, unlimited has become one of the three largest private investors in problem loans. Illimity’s Problem Loan Branch has launched “nepix, »A dedicated service company specializing in the management of corporate problem loans with unique characteristics in Italy. The Division is also reported to be active in providing non-bank investors with problem loans. In the period from 2021 to 2025, Unlimited forecasts the acquisition of NPL and UTP loans for a total amount of about 3 billion euros.
Illimity said in a statement that revenues are expected to grow by more than 30% on average between 2020 and 25, reaching over 450 million euros in 2023 and approximately 660 million euros in 2025. A gradual change in the balance of the contribution of net interest income from 59 is projected, which is% in 2020 to 55% in 2025.
More information is available on the illimity website.