The AFL Group saw positive earnings in the first half of 2024, showcasing growth.

From GlobeNewswire: 2024-09-26 02:30:00

The AFL Group saw positive earnings in the first half of 2024. New memberships raised €21.5 million in pledged capital, a record high. Credit origination grew 18% compared to the previous year. Several key figures for the group show growth, with notably 102 new local authority memberships. AFL raised €1.4 billion in the bond market, showcasing efficient refinancing strategies. Financial results remain aligned with business plan expectations. AFL Group’s cost of risk remains low due to excellent solvency of local authorities. The operating income for AFL stands at €2,645 thousand. The group remains financially strong, with a CET1 solvency ratio of 77.7% and an operating income of €2,645 thousand. Recent ACPR decisions have positively impacted AFL’s financial strength. Post-closing events include tapping a €250 million bond with a narrower margin and steady loan production as of August 31, 2024.



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