Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — Q1 2012 Earnings Presentation
17 slides from Credito Emiliano's earnings presentation, 2012
Slide 1: 1Q 2012 Group Results
1Q 2012 Group Results
Slide 2: Executive Summary
Executive Summary Net Interest Income stable QoQ (+0.4%) and growing YoY (+2.7%) despite the decrease of interest rates Asset Management & Brokerage Fees up 9.6% QoQ thank to higher AUM volumes (+€565 million QoQ). Banking Fees still growing net of the seasonality effect and showing a positive trend
Slide 3: Income Statements
Income Statements EURm 1Q11 4Q11 1Q12 % YoY Operating Income 226.5 216.0 238.7 5.4 Positive Operating Income performance, both Operating Costs -155.5 -149.8 -154.1 -0.9 YoY and QoQ (+5.4% and +10.5% respectively), paired by a strong cost control, drove Operating Gross Operating 71.0 66.2 84.6 19.2%
Slide 4: Net Interest Income
Net Interest Income Net Interest Income Net Interest Income remained stable QoQ despite: 130 €,mil 120 Last 6 months’ decrease of interest rates (now 110 lower than in 1Q11) 100 Still strong tension on Italian government 90 bonds’ spreads (with obvious negative impacts 80 112.1 118.1 118.5 114.6 115
Slide 5: Non Interest Income
Non Interest Income Non Interest Income Banking Fees trend was still positive, posting Asset Management Fees Insurance Fees Banking Fees Other Trading the better performance since the beginning of 160 2011, with the exception of 4Q11 figure that 140 124.4 was influenced by a seasonality effect 122.4
Slide 6: Deposits and Bonds
Deposits and Bonds €, million 2007 2008 2009 2010 2011 1Q12 Direct Deposits and Retail Bonds kept Sight Deposits 9,520 10,444 11,443 11,604 12,005 12,196 growing, improving the Loan to Deposit CD & other Dep. 1,785 3,275 2,637 1,064 493 189 Ratio Repos 735 2,216 158 62 43 18 Direct Deposits and Bond
Slide 7: Retail customers development
Retail customers development Retail customers with bank account: growth rate Retail customers with bank account: CSR 11.19% 4.39 12% 4.4 10% 9.00% 4.33 7.66% 4.4 8% 6.77% 4.3 4.26 4.27 6% 4.3 4% 2% 4.2 0% 4.2 2010 2011 2010 2011 Industry Credem Industry Credem The positive trend on Retail clientele’
Slide 8: Loans
Loans Loans since 2009 €,mil 18,884 19,995 19,900 20,000 16,841 17,536 3,323 3,598 3,545 16,000 2,788 2,577 5,845 6,282 6,258 12,000 5,426 5,534 1,941 1,935 2,001 2,012 8,000 1,910 4,000 6,717 7,484 7,781 8,114 8,084 - 1H09 FY09 FY10 FY11 1Q12 ST Loans Leasing Residential Mortgages Other LT Loans Ma
Slide 9: Operating Costs
Operating Costs Operating Costs: quarterly comparison €.mil • Payroll Costs were down QoQ thank to lower 200 provisions on early retirement incentives 155.5 153.2 149.8 154.1 146.7 150 48.9 47.8 50.6 39.8 48.6 Administrative Expenses were almost in line 100 with previous quarters, with the exception
Slide 10: Credit Quality (1/2)
Credit Quality (1/2) Gross Impaired Loans breakdown 600 549.2 513.1 527.0 480.3 496.2 500 1Q11 1H11 400 286 305.9 305.3 € Mil. 261.3 267.2 9M11 300 FY11 200 157.7 85.8 77.7 81.6 98.2 1Q12 100 0 Gross NPLs Gross Watchlist/Restructured Loans Gross Past Due % on Loans (Credem) 2.4 2.5 2.6 2.6 2.7 1.3 1
Slide 11: Credit Quality (2/2)
Credit Quality (2/2) Cost of Risk (bps) 80 Loans Loss Provisions were €22,5 million in 1Q12, moving to an annualized cost of risk of 60 71 45 bps 62 40 That figure, even if in line with the 2012 target 45 shown in 2010-2012 business plan, has been 20 34 penalized by some non recurrent events as the
Slide 12: Assets & Liabilities
Assets & Liabilities Assets breakdown (Euro, million) Within a substantially stability of 19,995 19,900 the total Assets aggregate, the 20000 AFS portfolio increased due to some investment on banking/ 15000 covered bonds (Italian government bond exposure 2011 10000 remained stable) while Financial 1
Slide 13: Capital ratios
Capital ratios Coefficienti Ratios Patrimoniali 2,500.0 11.1% 11.6% 12.5% 11.3% 2,000.0 8.6% 8.7% 9.2% 8.1% EURm 1,500.0 2,064.6 1,941.0 1,940.0 1,880.8 1,530.0 1,438.1 1,457.1 1,413.4 1,000.0 541.1 546.7 595.8 740.1 500.0 - 2009 2010 2011 1Q12 Tier I Capital Tier Total Capital Excess Capital RWA (€
Slide 14: Distribution Network
Distribution Network Number of branches and 2009 2010 2011 1Q12 branches market share per region Credem Branches 552 544 541 540 B.ca Euromobiliare 23 19 19 19 Branches Total Branches 575 563 560 559 Corporate Centres 42 42 41 41 Credem Points 33 35 34 33 B.ca Euromobiliare 17 18 16 18 Fin. Stores C
Slide 15: Shareholders' base
Shareholders’ base Pact among More than 2,900 other 230 shareholders shareholders Cofimar S.r.l. 20.0% Max Mara Fashion Group S.r.l. 8.1% Max Mara Finance S.r.l. 6.4% Others 39.7% 74.7% 25.3% Credemholding Free Float 76.9% 23.1% Source: Internal data 15
Slide 16: A Complete Group
A Complete Group Commercial banking Wealth Management Other 100% 99.0% 100% 100% 100% 50% 100% 100% 100% 100% 100% 100% 16
Slide 17: Disclaimer e Contatti
Disclaimer e Contatti Il Dirigente Preposto alla redazione dei documenti contabili societari dichiara ai sensi del comma 2 dell’articolo 154 bis del Testo Unico delle disposizioni in materia di intermediazione finanziaria, che l’informativa contabile contenuta nel presente documento corrisponde alle