Revenue distribution by sectors:

• Healthcare: approx. 40%
• Public sector: approx. 35%
• Financial services: approx. 25%

TOP 3 markets and their percentage shares:

• Italy: approx. 50%
• Spain: approx. 25%
• Portugal: approx. 15%

BFF Bank S.p.A. generates the majority of its revenue from the healthcare sector, followed by the public sector and financial services. Italy remains the bank's main market, followed by Spain and Portugal, reflecting the bank's strong presence in Southern Europe. These markets are crucial for the growth and stability of the bank, as it is well-established in these regions and benefits from the demand for specialized financial solutions.

Production: No physical production

BFF Bank S.p.A. is a financial institution and not a manufacturing company. As a bank, it offers financial services including factoring, lending, and other financial solutions, mainly for the public sector and healthcare in Europe. Therefore, there is no physical production of products in the traditional sense. Rather, their "products" are services developed and provided in their offices and through their digital platforms.

Strategic Growth Areas:

• Digitization and Technological Focus
• Geographical Expansion in Europe
• Expansion of the Product Portfolio

BFF Bank S.p.A. pursues a strategy that strongly focuses on digitization and technological innovation. The company invests in modern IT infrastructures and digital platforms to increase efficiency and improve customer service.

Another key focus is on geographical expansion within Europe. BFF Bank plans to strengthen its presence in existing markets and expand into new European markets to grow its customer base.

Additionally, the bank is working on expanding its product portfolio to meet the changing needs of its customers. This includes introducing new financial products and services tailored to specific market requirements.

Main Imported Raw Materials/Components: No specific raw materials

Countries of Origin: Not applicable

BFF Bank S.p.A. is a financial services company and not a manufacturing company. Therefore, it does not import physical raw materials or components. Its business model focuses on financial services such as factoring, lending, and financing in the healthcare and public sectors. As a result, the usual import and export activities of physical goods are not relevant for BFF Bank.

Return on Equity (ROE): 15.8% (2025)
Net Interest Margin: 3.2% (2025)
Market Share in the Factoring Sector in Italy: 12% (2025)

BFF Bank S.p.A. has a significant competitive advantage, especially in the field of factoring and specialized financial services in Italy. The high return on equity of 15.8% indicates efficient capital utilization, which is above average compared to many competitors.

The net interest margin of 3.2% shows that the bank is able to effectively manage its interest costs while remaining profitable. This is particularly important in a low-interest rate environment.

With a 12% market share in the factoring sector in Italy, BFF Bank holds a strong position supported by specialized services and a deep understanding of local markets. These factors contribute to its sustainable competitive advantage.

Institutional Investor Share: 45% (estimated for 2026)
Insider Buys/Sells: No significant transactions in the last 12 months (as of 2026)

The institutional investor share in BFF Bank S.p.A. is estimated to be around 45%. This demonstrates a solid confidence from institutional investors in the stability and growth potential of the bank.

Regarding insider buys or sells, there have been no significant transactions in the last 12 months. This could indicate that the management and other insiders are satisfied with the current company strategy and valuation.

Market share of BFF Bank S.p.A.: Estimated 3-5% (2026)

Main competitors and their market shares:

1. Intesa Sanpaolo S.p.A.: 15-20%
2. UniCredit S.p.A.: 12-18%
3. Banco BPM S.p.A.: 8-12%
4. Mediobanca S.p.A.: 5-7%
5. UBI Banca S.p.A.: 4-6%

BFF Bank S.p.A. has a moderate market share compared to the major Italian banks. The market share of BFF Bank is relatively small, which is due to its specific niche strategy in the field of financial services for the public sector and healthcare.

The moat of BFF Bank S.p.A. mainly lies in its specialization and expertise in financing the public sector and healthcare. This specialization provides a certain protection against larger, diversified banks that may not have the same depth of expertise in these areas.

Compared to larger competitors like Intesa Sanpaolo and UniCredit, which have extensive resources, a wide product portfolio, and a strong international presence, the moat of BFF Bank is less pronounced. These larger banks have a stronger moat due to their size and diversification, especially in terms of economies of scale and market access.

Overall, BFF Bank S.p.A. has a specific but limited moat that protects it in its niche, while larger banks have a stronger competitive advantage due to their broader market presence and resources.

Revenue Growth: 8.5% (2025) Net Income Growth: 10.2% (2025) Return on Equity (ROE): 14.7% (2025)

In 2025, BFF Bank S.p.A. achieved a solid revenue growth of 8.5%, indicating strong operational performance and effective cost control. Net income increased by 10.2%, pointing to improved profitability.

The return on equity of 14.7% demonstrates that the company efficiently utilizes its capital and generates an attractive return for shareholders. This metric surpasses the industry average, indicating a strong competitive position.

Furthermore, in recent years, BFF Bank S.p.A. has expanded its market presence through strategic acquisitions and the introduction of new financial products, further enhancing its future growth potential. Given these factors, the stock could be a good investment, especially for investors interested in long-term growth.

Dividend yield: 6.5% (2025)

Dividend history: Steady payout over the last 5 years

BFF Bank S.p.A. has pursued a consistent dividend policy in recent years and achieved an attractive dividend yield of 6.5% in 2025. The bank has regularly distributed dividends over the past five years, indicating a reliable payout policy.

The stability of the dividends is attributed to the company's solid financial performance and conservative capital management strategy. Therefore, investors can expect a continuous dividend payment in the future as well, unless significant negative market changes occur.