Cdp, 2023 closes with record profit of 3.1 billion

Cdp, 2023 closes with record profit of 3.1 billion

The board of directors of Cassa Depositi e Prestiti approved the 2023 budget with net profit at a previously never reached level of 3.1 billion euros, up 23% compared to 2.5 billion last year, “thanks also to the increase in the interest margin and the greater contribution of the group companies in terms of dividends”.

Consolidated net profit amounted to 5 billion, down by 1.8 billion euros (-26%). The change – explains Cdp – is mainly attributable to the effect of Eni’s equity valuation.

The Cassa explains that in the two-year period 2022-23 the resources committed by the Cdp group reached a total of 50.7 billion, or 78% of the target set for the three-year period and well beyond the objectives of the 2022-24 Strategic Plan. The investments activated exceeded 100% of the three-year target, standing at 133.5 billion, a value equal to 2.6 times the resources committed in the period. At the end of 2023, the stock of credits increased by 8% to 124 billion, compared to 114 billion in 2021.

“The 2023 budget results of Cassa Depositi e Prestiti demonstrate the growth of our commitment to the development of the country. The increase in credits to 124 billion is a consequence of the new strategy which has seen us consolidate our presence in the area. The strengthening assets and the level of profit reached are the result of work that has made the group even more solid and able to face the challenges we face”, declared the CEO of Cassa Depositi e Prestiti, Dario Scannapieco, presenting the 2023 results and the balance sheet of the 2022-2024 strategic plan.

“In its role as a stimulus to the growth of the economic system and as a catalyst for resources, the CDP group has activated investments of over 133 billion in the two-year period, already reaching the targets of the entire Strategic Plan. Our work as an Italian financial institution for cooperation development led us to launch a program of opening extra-European facilities to provide concrete support to emerging economies. Today CDP has an increasingly international role, highlighted by the results obtained in the use of European funds. These results were achieved thanks to the great commitment of all the people in the group who contributed to the creation of our corporate culture and passionately shared our long-term objectives”, he concluded.

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