Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — Q1 2025 Earnings Presentation
25 slides from Credito Emiliano's earnings presentation, 2025
Slide 1: Group Results 1Q25
yr S= GROUP RESULTS 1025
Slide 2: 1Q25: Highlights
1Q25: HIGHLIGHTS €229 MLN €136 15.2% 13.4% MLN PROFITABILITY NET Norm* Norm.* Norm.* PROFIT NET ROTE ROE PROFIT Gross NPL Ratio Net NPL 2.5% Ratio 2.3% 1Q25 0.7% 1.8% ASSET QUALITY 15.7% CET1 7.66% Ratio 8.01% CAPITAL SOUNDNESS *Normalised figure is net of €93.7m (net of tax effect) from the transfe
Slide 3: 1Q25: Highlights
1Q25: HIGHLIGHTS +2.5% +3.7% +1.5% VOLUMES YoY YoY YoY Loans -0.1% Direct funding YoY +828 1Q25 €MLN PRODUCTION Customer funding Net inflows excluding corporate ~1.6 MLN +6% VS 1Q24 CUSTOMERS Total customers Loans and funding: ABI Monthly Outlook Aprile 2025 Credem Group net inflows include AUM, AUC
Slide 4: Business Diversification
BUSINESS DIVERSIFICATION Operating Income 525.3 504.4 480.0 522.7 475.4 Core Operating Income** 480.6 471.9 468.2 480.6 433.9 €/million 2.1% 1.8% 3.9% 1.9% 6.2% 4.4% 4.6% 0.4% 7.0% 1.9% 54% 56% 58% 52% 49% 37% 37% 40% 40% 42% 1Q24 2Q24 3Q24 4Q24 1Q25 Core NIM on Operating Income NII on Operating Inc
Slide 5: Contribution to Consolidated Net Profit
CONTRIBUTION TO CONSOLIDATED NET PROFIT Commercial banking Credem Banca €77.7 mln Private Banking Credem Euromobiliare €11.4 mln Private Banking Extended Banking Services, Consumer Credit & Technology Credem Factor Avvera Credemtel €21.7 mln Credem Leasing MGT Wealth Management Euromobiliare SGR €28
Slide 6: Reclassified Income Statement
RECLASSIFIED INCOME STATEMENT Δvs €/million 1Q24 4Q24 1Q25 Δvs 4Q24 • Total revenues down by 9.5% YoY due to the correction of 1Q24 Net Interest Income 285.6 271.9 234.2 -18.0% -13.8% the NII down by 18% compared to the peaks of the same period last year, while the commission components grew, Non In
Slide 7: Net Interest Income 1Q25 vs 4Q24
NET INTEREST INCOME 1Q25 VS 4Q24 Recurring Effects Non-Recurring Effects Rate effect on Effect of sales of Renewal of liabilities Days Effect 4Q24 commercial Effect of Change Other non- commercial2 NII net of non Securities portfolio hedging derivatives 1Q25 in Commercial recurring volumes1 volumes1
Slide 8: Customer Spread
CUSTOMER SPREAD During 1Q25, the Group showed better stability in the customer spread compared to that of the Industry, with a contraction for Credem (-9 bps) and for the Industry (-17 bps vs 4Q24) The effect is mainly attributable to the lower impact on the average rate of loans to customers in the
Slide 9: Securities Portfolio
SECURITIES PORTFOLIO Securities portfolio breakdown (€/mln, %) Italian government bond (€/bn) 5.2 4.7 12,508 11,965 11,609 13,229 11,525 4.0 4.0 3.8 Ita Govies 1Q25 HTC 4.6 HTCS 0.1 32% 33% 33% FVTPL 0.0 40% 42% Total 4.7 4% 4% 4% 1Q24 1H24 9M24 FY24 1Q25 4% 4% 25% 24% 25% • The value of the securit
Slide 10: Non Interest Margin
NON INTEREST MARGIN Total* (€/mln) 239.7 219.7 202.6 250.8 241.1 Performance Fees 20.7 9.4 32.3 8.4 10.0 9.8 33.1 23.0 23.0 1.8 Income from Financial 51.7 51.3 52.3 52.7 52.8 Activities 23.9 23.4 20.3 Banking Fees & others 18.4 22.2 Insurance Income 111.4 109.9 109.8 124.2 121.8 Asset Management and
Slide 11: Operating Costs and D&A
OPERATING COSTS AND D&A Operating costs (€/mln) Employees 221 223 202 257 235 6,608 6,616 6,628 6,614 6,680 6,195 6,201 6,219 6,068 6,140 5,899 5,763 5,609 80 70 73 76 67 177 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q25 152 150 135 158 Financial Advisors 1Q24 2Q24 3Q24 4Q24 1Q25
Slide 12: Loans to Customers
LOANS TO CUSTOMERS Loans to customers (€/bn) Other Loans 9.6 9.3 9.4 9.2 9.6 Residential Mortgage 10.6 10.7 10.8 11.1 11.3 Leasing 3.3 3.3 3.3 3.4 3.4 Consumer Finance 3.3 3.5 3.6 3.7 3.8 Short-Term Loans 7.7 8.1 7.6 8.8 7.8 1Q24 1H24 9M24 2024 1Q25 Total 34.6 35.2 34.7 36.4 35.4 Ongoing volumes exp
Slide 13: Group Customers Funding: Net Inflows Breakdown
GROUP CUSTOMERS FUNDING: NET INFLOWS BREAKDOWN AUC Direct Deposits AUM + Insurance Total Total Net Inflows Net Inflows Total Total Net Inflowsnet Net Inflows netofof Corporate Corporate 1,616 1,516 1,233 1,338 828 1,103 697 712 723 564 481 458 314 155 58 -124 Direct -28 deposit -72 -181 -203 -264 -3
Slide 14: Deposits, AUM and Insurance
DEPOSITS, AUM AND INSURANCE Total customer funding Direct deposits & retail bonds** €/mln 1Q24 FY24 1Q25 +3.7% YoY Sight / Saving Depo. 35,796 38,794 37,778 Industry Credem +170% Retail Bonds & Other Deposits* 1,113 455 486 Total Direct Funding 36,909 39,249 38,264 Insurance Reserves 8,564 9,396 9,5
Slide 15: Asset Quality: Gross NPL Ratio and Cost of Risk
ASSET QUALITY: GROSS NPL RATIO AND COST OF RISK Gross Non Performing Loans (€/mln,%) Gross NPL Ratio Disposal 2.5% 2.8% Disposal FY23 ~40 mn ~49 mn Disposal 2.3% Gross non-performing ~9 mn 359 363 1.8% loans remained low at FY24 350 298 267 260 1Q25 €658 million, confirming the absence of significan
Slide 16: NPL: Coverage
NPL: COVERAGE NPL (€/mln) Gross Net Coverage Coverage ratio Bad Loans 260.0 43.6 83.2% UTP Loans 349.7 191.8 45.2% Past Due 47.9 29.6 38.1% 59.7% Total NPL 657.5 265.0 59.7% 47.2% 45.6% 39.6% + Net NPL +265.0 - (Shortfall + Addendum + Calendar) 6.7 Credem ITA EU** EU NPL Net of Shortfall 271.7 diver
Slide 17: Bonds Issuances and Maturities
BONDS ISSUANCES AND MATURITIES Recent issues (€/mln) Maturities (€/mln) 0 100 200 300 400 500 600 €/mln Retail 500+ Jan-24 Covered Bond 750+ 24 Istituzionale Covered Bond 500 Sep-23 Social SP 100 Social Jul-23 Social SP Retail 2023 Green Jul-23 Social SP Retail Senior Preferred 600 May-23 Green SNP
Slide 18: Liquidity
LIQUIDITY NSFR LCR 132% 136% 136% 176% 167% 168% FY23 FY24 1Q25E FY23 FY24 1Q25 Loan to Deposit Ratio* 0.96 0.92 0.93 • Liquidity ratios remained sound and well above minimum capital requirements, enabling the Group to have a greater flexibility in setting future funding strategies FY23 FY24 1Q25 *
Slide 19: Consolidated Capital Ratios
CONSOLIDATED CAPITAL RATIOS Fully phased figures Fully phased figures Credem Group Credemholding €, million FY24 1Q25 FY24 1Q25 CET 1 3,660 3,773 3,391 3,503 Total Capital 4,093 4,220 3,979 4,107 Capital absorption from: 1,748 1,790 1,746 1,788 Credit and Counterparty 1,532 1,530 1,530 1,528 Market
Slide 20: Attachments
ATTACHMENTS
Slide 21: Reclassified Consolidated Income Statement by Business Line
RECLASSIFIED CONSOLIDATED INCOME STATEMENT BY BUSINESS LINE Extended Banking Commercial Private Asset Wealth Consolidation 1Q25 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology Net Interest Income 173.0 16.1 36.8 225.9 3.8 1.4 5.
Slide 22: Volumes Reclassified by Business Line
VOLUMES RECLASSIFIED BY BY BUSINESS LINE Extended Banking Commercial Private Asset Wealth Consolidation 1Q25 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology CUSTOMER LOANS 33,991.7 751.3 7,786.6 42,529.6 20.5 20.5 -7,125.5 35,42
Slide 23: Assets & Liabilities
ASSETS & LIABILITIES Assets (€/mln) 36,364 35,425 FY24 1Q25 10,047 9,888 7,826 7,386 5,404 4,933 4,139 3,219 110 83 Fin. Assets through Fin. Assets HTCS Fin. Assets HTC Fin. Assets (insurance Due from banks Loans to customers P&L companies) Liabilities (€/mln) 39,005 38,019 Wholesale Retail FY24 Fun
Slide 24: Liquidity Reserves
LIQUIDITY RESERVES Liquidity Reserves (€/bn) • The total value of the Group's Liquidity Reserves stood at €17.4 billion, equal to 17.4 27% of Total Assets Total 17.0 • The value of Cash and deposits with Central Banks decreased to €2.1 billion Other ECB eligible 6.2 unencumbered assets 5.9 • ECB eli
Slide 25: Disclaimer and Contacts
DISCLAIMER AND CONTACTS The manager responsible for preparing the company’s financial reports Mr. Giuseppe Malato of Credito Emiliano S.p.A., declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corres
Credito Emiliano S.p.A. (Credem Group) — Q1 2025 Earnings Presentation on 6ix