Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — H1 2010 Earnings Presentation
16 slides from Credito Emiliano's earnings presentation, Aug 30, 2010
Slide 1: 2010 Second-Quarter Group Results
2010 Second-Quarter Group Results 30 August 2010
Slide 2: Executive Summary
Executive Summary 2Q10 Highlights Asset Management Fees keep on increasing along the year (+15.4% QoQ), supported by a continuous growth in volumes and a better asset mix Loan Loss Provisions significantly lower compared to 1Q10 mainly due to an overall slight improvement in impaired loans generatio
Slide 3: Income Statements
Income Statements EURm 2Q09* 1Q10 2Q10 % yoy % qoq 1H09 1H10 Total Income 226.3 229.9 231.1 2.1 0.5 448.6 461.0 Operating Costs -163.2 -158.9 -161.6 -1.0 1.7 -328.2 -320.5 Gross Operating Profit 63.1 71.0 69.5 10.1 -2.1 120.4 140.5 Amortization and Depreciation -7.2** -6.8 -7.1 -1.4 4.4 -15.0 -13.9
Slide 4: Revenues and Costs
Revenues and Costs Total Revenues 250 226.3 229.9 231.1 Net Interest Income: +11.1% QoQ and +28.0% YoY driven by higher volumes (both QoQ and 94.9 109.4 YoY) and the full deployment of securities’ 121.5 investments put in place in the previous quarter EURm 125 Non Interest Income down by 9.0% QoQ du
Slide 5: Spread and Loan Book
Spread and Loan Book Spread on clientele (Credem SpA management accounting) Spread with clientele is slightly increasing QoQ 6.0 4.80 Lending is up (+2.3% QoQ), as a result of the 5.0 3.95 actions put in place since the beginning of the 4.0 3.60 3.30 3.20 year. Net of credit to private customers, to
Slide 6: Deposits & Assets Under Management
Deposits & Assets Under Management Eum 2007 2008 2009 1Q10 2Q10 AuM are still growing (+ €229 Millions QoQ), Sight despite the negative evolution of the financial 9,520 10,444 11,443 10,247 11,538 Deposits markets in the same period, driven by the positive Time performance of Mutual Funds 1,785 3,27
Slide 7: Commissions
Commissions Non Interest Income Breakdown Significant increase of asset management fees 70 63.9 (+15.4% QoQ) is driven by an asset mix 59.1 60 51.2 improvement as well as by volumes’ growth 48.3 50 44.6 45 36.6 40.3 39.5 38.8 39.3 38.8 Total fees (Asset Management and Banking fees) 40 33.5 32.9 repr
Slide 8: Customer relationship management
Customer relationship management Service quality Positive performance on AuM and Net Fees are driven by a top class quality in terms of relationship with customers For the third year in a row, Credem has been recognized as the top player for service quality in in North East Italy (Emilia Romagna, Ve
Slide 9: Credit Quality (1/2)
Credit Quality (1/2) Gross Impaired Loans 450 400.1 400 363.8 371.0 Watchlist inflows in 4Q09 are 1H09 350 317.8 mainly due to the application of 290.5 292.7 new rules issued by Bank of Italy 9M09 EURm 300 253.9 276.6 about “Incagli Oggettivi” 250 2009 200 165.6 147.4 1Q10 150 106.3 113.3 99.6 95.5
Slide 10: Credit Quality (2/2)
Credit Quality (2/2) Cost of Risk (bps) Cost of risk is down to 33 bps (-15 bps QoQ) 80 LLPs are significantly reducing because of: 71 60 62 Impaired loans generation overall positive 59 58 58 trend 47 40 High level of write-backs, in line with the 33 historical Credem conservative approach 20 Updat
Slide 11: Assets & Liabilities
Assets & Liabilities Assets (EURm) 8,000 7,191 Financial Assets almost stable after the 6,151 financial operations put in place in 1Q10 6,000 5,842 5,395 Financial Assets Available for Sale is mainly 4,000 3,758 made of Italian government bonds with an 2,362 average duration of less than two years 2
Slide 12: Capital Ratios
Capital Ratios Capital Ratios 2,500 10.9% 11.7% 11.1% 11.5% 11.2% 2,000 10.0% 7.5% 7.9% 8.5% 8.1% 8.4% 8.5% 1,500 EURm 1,942 1,941 1,942 1,908 1,891 1,807 1,000 1,415 1,413 1,419 1,430 1,376 1,358 616 541 595 542 513 500 361 - 1Q09 1H09 9M09 2009 1Q10 1H10 Tier I Capital Tier Total Capital Excess Ca
Slide 13: Distribution Network
Distribution Network Number of branches and 2006 2007 2008 2009 2Q10 branches market share per region Credem Branches 447 479 563 552 544 B.ca Euromobiliare 21 22 27 23 19 Branches Total Branches 468 501 590 575 563 Corporate Centres 41 42 44 43 42 Credem Points 25 29 36 33 34 B.ca Euromobiliare Fin
Slide 14: 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% 14
Slide 15: A Complete Group
A Complete Group Commercial banking Wealth Management Investment Banking Other 100% 99.0% 100% 100% 100% 100% 100% 50%* 100% 100% 100% 100% 100% 100% 15
Slide 16: 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