ROME (ITALPRESS) – The Board of Directors of the Istituto per il Credito Sportivo e Culturale S.p.A., chaired by Chairman Beniamino Quintieri, has approved the draft 2024 Annual Report, presented by CEO and General Manager Antonella Baldino. The draft budget will be submitted to the Shareholders’ Meeting for approval.
The Institute, which completed the process of transformation into a joint stock company under singular law on July 1, disbursed loans worth 547 million euros in 2024, activating about 1.2 billion in investments in the Sports and Culture sectors, with a leverage effect of 3 times the committed resources and social benefits estimated at more than 9 billion euros in terms of Social Return on Investment.
In a macroeconomic context characterized by growing instability and a general contraction in the supply of credit to businesses and households, the counter-cyclical role of the Institute found maximum expression, with disbursements increasing by 15 percent over 2023. In particular, medium- to long-term loans reached €396 million, up 24 percent from the previous year, confirming ICSC’s role as a long-term investor for the development of infrastructure projects in the Sports and Culture sectors.
Support for operators’ liquidity needs continued with short-term financing of €151 million. During 2024, the Bank’s commitment to the Sport system was strengthened, with financing reaching 473 million euros (+22% compared to 2023), particularly in support of the investment policies of Local Authorities. The significant increase in the number of new municipalities that have resorted to the Institute’s financial solutions (+40%) consolidates its role as a strategic partner for local development. In the Culture sector, ICSC’s intervention focused mainly on supporting projects for the preservation and enhancement of historical and artistic heritage, with a volume of disbursements amounting to 73 million euros.
“The results achieved in 2024 testify to our ongoing commitment to the country’s development through strategic infrastructure investments. With more than 547 million euros in disbursements, we have reached a new record, once again demonstrating the solidity of our operations and our central role as a public bank serving Local Authorities, Businesses and Non-Profit organizations,” says ICSC President Beniamino Quintieri.
“In a year marked by a complex economic environment, the 2024 budget results show the Institute’s growing role in supporting the Sports and Culture sectors. With more than 1.2 billion in activated investments, the Institute diversifies and expands its intervention, confirming a relevant ability to catalyze resources and promote projects with significant social added value. The growth in disbursements, the increase in the number of new clients in the segment of Territorial Entities and the consolidation of a portfolio of projects with high social impact represent clear signals of our commitment to sustainable and lasting development at the service of communities and territories. Capital soundness, long-term sustainability, and continuous dialogue with stakeholders are the guidelines that have characterized our work and will enable us to meet future challenges,” said CEO Antonella Baldino. The Institute closes 2024 with a net profit of 4.5 million euros, consolidating the basis for sustainable and lasting growth (9.6 million euros in 2023).
– ICSC press office photo –
(ITALPRESS).
