Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — Q1 2010 Earnings Presentation
15 slides from Credito Emiliano's earnings presentation, 2010
Slide 1: 1Q10 Group Results
1Q10 Group Results
Slide 2: Executive Summary
Executive Summary 1Q10 Highlights Core TIER I ratio 8.4% and TIER Total at 11.5% Pre-tax Profit substantially stable quarter on quarter Net Interest Income up by 5.6% QoQ due to profit coming from securities investments Lending volumes substantially in line with 4Q09 figures, in coherence with banki
Slide 3: Income Statements
Income Statements EURm 1Q09 4Q09 1Q10 % yoy % qoq Total Income up 3.4% YoY due to Non Interest Total Income 222.3 237.5 229.9 3.4 -3.2 Income growth (+ 17.5% YoY) Operating Costs -165.0 -161.7 -158.9 -3.7 -1.7 Operating Costs decreased both QoQ (-1.7%) Gross and YoY (-3.7%) in line with 2010-2012 bu
Slide 4: Revenues and Costs
Revenues and Costs Total Revenues 250 AUM performance fees and other non recurring fees* Net Interest Income: -8.4% YoY driven by rates drop; +5.6% QoQ due to a substantial 103,6 109,4 stabilization in volumes and spreads and to the 119,4 contribution of securities investments in the last EURm 125 m
Slide 5: Spread and Loan Book
Spread and Loan Book Spread evolution Spread’s decline is continuing, even if at a lower (Credem SpA management accounting) 5,0 4,68 pace, due to interest rates negative trend 4,5 4,0 3,84 Lending is substantially stable (-0.6% QoQ) after 3,5 3,47 3,18 the sharp increase in 4Q09, in line with the 3,
Slide 6: Deposits & Assets Under Management and Commissions
Deposits & Assets Under Management and Commissions Eum 2007 2008 2009 1Q10 AuM fees, net of approximately €15 Millions of Sight Deposits 9,520 10,444 11,443 10,247 performance fees recorded in 4Q09, are continuing to grow driven by AuM growth (+36.3% Time deposits 1,785 3,275 2,637 1,842 YoY and +8.
Slide 7: Mutual Funds and SICAV Inflows – Assogestioni analysis
Mutual Funds and SICAV Inflows – Assogestioni analysis Credem Inflows* vs. Industry According to Assogestioni data, Credem is 4.0% continuing to outperform the industry in every 3.0% month since the beginning of 2009 2.0% Significantly positive the group performance on % 1.0% February and March comp
Slide 8: Credit Quality (1/2)
Credit Quality (1/2) Gross Impaired Loans Watchlist inflows in 4Q09 are mainly due to the application of 400 363.8 371.0 new rules issued by Bank of Italy 350 317.8 290.5 292.7 about “Incagli Oggettivi” that 1Q09 300 255.4 253.9 amounted to 67 EURm 1H09 250 EURm 9M09 200 154.1 147.4 165.6 2009 150 1
Slide 9: Credit Quality (2/2)
Credit Quality (2/2) Net Impaired Loans 3.5 Net NPLs almost stable QoQ with a coverage 3 passed to 61.8 from 61.7 as at the end of 2009 % on Net Total Loans 2.5 0.63 0.59 Net Impaired Loans growth due to the inflow of 2 0.5 highly collateralized Watchlist Loans 0.56 1.49 1.5 0.55 1.28 0.82 1 0.7 0.6
Slide 10: Assets & Liabilities
Assets & Liabilities Assets (EURm) As a results of the financial operations put in 8,000 7,191 place by February, the Financial assets 6,000 5,395 5,842 available for sale comes at €5,842 Millions (+55% QoQ) 3,758 4,000 3,381 2,362 2,263 The increase is focused on short terms Italian 2,000 1,582 1,2
Slide 11: Capital Ratios and company risks
Capital Ratios and company risks Capital Ratios 2500 2000 10.9% 11.7% 11.1% 11.5% 10.0% 1500 7.5% 7.9% 8.5% 8.1% 8.4% EURm 1,942 1,942 1,908 1941 1807 1000 1,415 1,419 1,376 1413 616 1358 513 541 595 500 361 0 1Q09 1H09 9M09 2009 1Q10 Tier I Capital Tier Total Capital Excess Capital Average company
Slide 12: Distribution Network
Distribution Network Number of branches and 2006 2007 2008 2009 1Q10 branches market share per region Credem Branches 447 479 563 552 547 B.ca Euromobiliare 21 22 27 23 20 Branches Total Branches 468 501 590 575 567 Corporate Centres 41 42 44 43 42 Credem Points 25 29 36 33 35 B.ca Euromobiliare Fin
Slide 13: Shareholders’ Base
Shareholders’ Base Pact among More than 2,900 other 230 shareholders shareholders Maramotti Family 35.5% Others 38.6% 74.1% 25.9% Credemholding Free Float 76.9% 23.1% 13
Slide 14: A Complete Group
A Complete Group Commercial banking Wealth Management Investment Banking Other 100% 98.5% 100% 100% 100% 100% 100% 50%* 100% 100% 100% 100% 100% 100% 14
Slide 15: Disclaimer and Contacts
Disclaimer and Contacts Pursuant to Article 154-bis, section 2 of the “Consolidated Law on Financial Intermediation” dated Feb 24, 1998, the Financial Manager Paolo Tommasini, declares that the accounting information contained in this document correspond to documentary records, ledgers and accountin