71 slides from Mediobanca - Banca Di Credito Finanziario's earnings presentation, Aug 5, 2015
Slide 1: FY15 results as at 30 June 2015
FY15 results as at 30 June 2015 Milan, 5 August 2015
Slide 2: Agenda
Agenda Section 1. FY15 Results - Mediobanca Group Section 2. FY15 Results – Segmental reporting Section 3. First step in MAAM set up – Cairn Capital acquisition Section 4. 3YBP Where we are Annexes 1. Quarterly segmental reporting tables 2. Asset quality details by business as at June 2015 3. Princi
Slide 3: Mediobanca: a growth story both annually …
Mediobanca: a growth story both annually … FY15 results as at 30 June 2015 - MB Group Section 1 In last 12m Mediobanca has successfully achieved: Growth in loan book associated with improved asset quality and higher coverage ratios Growth in top line coupled with enhanced geographical and business d
Slide 4: … and quarterly
… and quarterly FY15 results as at 30 June 2015 - MB Group Section 1 In last quarter Mediobanca has successfully achieved: Growth in loan book coupled with declining NPLs and Bad Loans, both in stocks and as % of loans Growth in NII with the highest-ever level driven by widening net assets spread Go
Slide 5: Revenues up 12% to over €2bn, net profit up 27% to €590m
Revenues up 12% to over €2bn, net profit up 27% to €590m FY15 results as at 30 June 2015 - MB Group Section 1 12M 12M D 12M P&L - €m June15 June14 YoY June13 Total income 2,045 1,819 12% 1,628 Net interest income 1,143 1,087 5% 1,028 Fee income 472 424 11% 410 Net treasury income 207 45 200 Equity a
Slide 6: A&L optimized to cope with a low yield scenario
A&L optimized to cope with a low yield scenario FY15 results as at 30 June 2015 - MB Group Section 1 D A&L - €bn June15 June14 June13 YoY Funding 42.7 45.8 -7% 51.3 Bonds 19.7 22.6 -13% 25.9 Retail direct deposits 9.6 11.5 -16% 11.9 ECB 5.5 5.5 0% 7.5 Others 7.9 6.2 27% 6.1 Loans to customers 32.9 3
Slide 7: Top line (NII and fees) up in corporate & retail
Top line (NII and fees) up in corporate & retail FY15 results as at 30 June 2015 - MB Group Section 1 Group revenues (€m) RCB revenues by quarter (€m) up 8% Avg: €252m Avg: €234m +12% 2,045 1,819 1,628 254 288 1,008 854 +8% 934 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 NII Fees 768 +29% 776 600 CIB re
Slide 8: NII up for the third year in a row, driven by A&L remix
NII up for the third year in a row, driven by A&L remix and … FY15 results as at 30 June 2015 - MB Group Section 1 Net interest income (€m) Total asset mix (€m) +5% +6% 1,143 €60bn €53bn 1,087 1,028 251 273 288 21.7 -9% 19.8 -25% 14.8 +8% 833 33.5 -9% +8% 32.9 696 +11% 770 30.6 FY13 FY14 FY15 FY13 F
Slide 9: … growth in loan book, both corporate and retail
… growth in loan book, both corporate and retail FY15 results as at 30 June 2015 - MB Group Section 1 New loans trend (€bn) Loan book trend (€bn) 33.5 +8% 32.9 30.6 3.5 2.8 FY13 2.6 5.3 8.2 3.0 +10% 14.6 16.3 13.3 FY14 3.4 5.9 9.7 +32% 13.7 14.3 +9% 15.5 FY15 5.4 6.9 12.8 FY13 FY14 FY15 RCB CIB Leas
Slide 10: Building up fee income stream
Building up fee income stream FY15 results as at 30 June 2015 - MB Group Section 1 Group fee income (€m) RCB fees by quarter (€m) up 7% Avg:€44m Avg: €41m +11% 472 424 410 175 +7% 164 173 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 343 Consumer Retail 269 304 +13% CIB fees by quarter (€m) FY13 FY14 FY15
Slide 11: Costs up for higher bonus pool, franchise upgrade and regulation
Costs up for higher bonus pool, franchise upgrade and regulation FY15 results as at 30 June 2015 - MB Group Section 1 Group total cost trend (€m) Higher bonus pool Regulation, IT, operations Bonus back to FY12 level, 847 CIB 791 +7% compensation ratio lower 752 +5% Support staff hirings: 20 than
Slide 12: Asset quality: increasing coverage and decreasing NPLs stocks …
Asset quality: increasing coverage and decreasing NPLs stocks … FY15 results as at 30 June 2015 - MB Group Section 1 Group net NPLs by segment (June 2015) Net NPLs and coverage by category (June 2015, €m, %) Net NPLs: €1,152 m 1,400 1,200 66% 50% 48% 49% 53% 1,200 Leasing 95 1,000 139 24% CIB 37% 80
Slide 13: ... in all segments. Cost of risk back to normal levels
... in all segments. Cost of risk back to normal levels FY15 results as at 30 June 2015 - MB Group Section 1 NPLs (“deteriorate”) and Bad Loans (“sofferenze”) Cost of risk by segment (bps) June13 June14 Dec14 June15 Net NPLs (€m) 989 1,158 1,220 1,152 491 Net NPLs/CT1 16% 18% 19% 16% 384 Net NPLs /l
Slide 14: MB well positioned among Italian banks on asset quality
MB well positioned among Italian banks on asset quality FY15 results as at 30 June 2015 - MB Group Section 1 NPLs (“deteriorate”) and BadLs (“sofferenze”) as % MB well positioned among Italian banks on asset of CET1 quality: 122% NPLs incidence: 16% CET1, 3.5% loans (>120% and >11% respectively
Slide 15: Disposals since FY13 totalling €1.1bn with €0.3bn cap gains
Disposals since FY13 totalling €1.1bn with €0.3bn cap gains FY15 results as at 30 June 2015 - MB Group Section 1 AFS equities portfolio trend (€bn) €1bn disposals €0.2bn €0.1bn capital capital gains gains 0.8 0.4 3pp AG 0.8 0.3 0.6 0.1 0.2 1.9 1.3 1.1 0.9 June 13 FY13 FY14 Market June 14 FY15 Market
Slide 16: Comfortable capital ratios in all scenarios
Comfortable capital ratios in all scenarios FY15 results as at 30 June 2015 - MB Group Section 1 CET1 ratio phase-in trend (bps) CET1 ratios trend (%) +90 bps in 12m 12.6% -35bps -15bps +40bps 12.0% Fully loaded 11.9% +100bps 11.0-11.5% 10.7% 11.98% 11.08% SREP: 9.0% June 14 Net Dividend to RWA Othe
Slide 17: Banking profitability ratios materially improved
Banking profitability ratios materially improved FY15 results as at 30 June 2015 - MB Group Section 1 3YBP 12m 12m 12m Target FY13 FY14 FY15 FY16** GROUP ROE neg. 6.4% 7.3% 10-11% CET1- phase in - 11.1% 12.0% 11-12% CIB ROAC* 7.9% 6.4% 8.2% 12-13% RCB ROAC* 5.3% 5.0% 10.8% 10-11% ow Consumer lending
Slide 18: Shareholders’ remuneration: DPS at €0.25, up 67%
Shareholders’ remuneration: DPS at €0.25, up 67% FY15 results as at 30 June 2015 - MB Group Section 1 12M 12M 12M D € June13 June14 June15 15/14 EPS Neg. 0.54 0.68 +26% Cash DPS 0 0.15 0.25 +67% Total dividend paid 0 127m 213m +68% Stated payout 0% 27% 36% +9pp Group net profit -180m 465m 590m +27%
Slide 19: Agenda
Agenda Section 1. FY15 Results - Mediobanca Group Section 2. FY15 Results – Segmental reporting Section 3. First step in MAAM set up - Cairn Capital acquisition Section 4. 3YBP Where we are Annexes 1. Quarterly segmental reporting tables 2. Asset quality details by business as at June 2015 3. Princi
Slide 20: CIB: growth resumed in loans and top line
CIB : growth resumed in loans and top line FY15 results as at 30 June 2015 Segmental reporting - CIB Corporate and Private Banking Top line growing Wholesale Banking domestic and international, with more synergic approach among teams fee-based products picking up, positive IB pipeline ahead GR
Slide 21: Top line growing, domestically and internationally
Top line growing, domestically and internationally FY15 results as at 30 June 2015 Segmental reporting - CIB WB total revenues trend by geography (€m) WB fees trend by geography (€m) 630 +40% 644 +15% 259 225 460 198 346 408 +71% +17% 175 149 202 143 46% 76 +11% 84 32% 55 258 +15% 298 Non-domestic/
Slide 22: NII stabilized, now ready to benefit from cost of funding reduction
NII stabilized, now ready to benefit from cost of funding reduction FY15 results as at 30 June 2015 Segmental reporting - CIB Net interest income Lending ,Treasury & RWAs Funding P&L Balance sheet shifted from low €5.5bn TLTRO primarily allocated NII stabilized in the last 3Q yield treasury as
Slide 23: WB fees up 15%: capmkt buoyant, IB activity up in all products
WB fees up 15%: capmkt buoyant, IB activity up in all products FY15 results as at 30 June 2015 Segmental reporting - CIB IB Fees Capital Markets M&A Lending Driver of fees in the last 2Y on Activity has picked up but pressure New business up 60% (to €5.4bn), strong performance of primary on ma
Slide 24: More synergic approach between teams and geographies (1/2)
More synergic approach between teams and geographies (1/2) FY15 results as at 30 June 2015 Segmental reporting - CIB Industry Expertise P P P P P P P P Corporate Finance P P P P Equity Capital Markets P P P P P Debt Capital Markets P P P Lending and Structured P P P P P P Finance Capital Market Solu
Slide 25: More synergic approach between teams and geographies (2/2)
More synergic approach between teams and geographies (2/2) FY15 results as at 30 June 2015 Segmental reporting - CIB February 2015 Italy February 2015 Italy July 2015 Italy June 2015 Italy May 2015 Spain March 2015 Spain March 2015 Italy EV € 6.8bn € 850m € 1,250m € 770m € 9,440m € 2,160m € 350m Acq
Slide 26: RCB: material and sustainable growth
RCB: material and sustainable growth FY15 results as at 30 June 2015 Segmental reporting - RCB Retail and Consumer Banking Compass Growth in loans and margins Consumer lending Asset quality improving steadily and fast MANAGING VALUE Net profit almost doubled at €94m, ROAC up to 14% CheBanca!
Slide 27: Compass: profitable new lending activity ...
Compass: profitable new lending activity ... FY15 results as at 30 June 2015 Segmental reporting - Consumer lending Compass vs Italian market*(%) Compass: new loans and loan book (€bn) Compass 40.0% mkt share 15.0% +13bps +43bps NII / 12.3% average 11.4% 11.6% 13.0% loans 30.0% 10.0% 9.8% 11.0% +10%
Slide 28: ... along with asset quality improvement ...
... along with asset quality improvement ... FY15 results as at 30 June 2015 Segmental reporting - Consumer lending Loans with 30 days’ arrears for the first time Consumer NPLs ratio and coverage trend (3 months moving average and yearly average) Consumer June13 June14 June15 NPLs (€m) 369 342 302 Y
Slide 29: ... ensuring NII, net profit and profitability growth
... ensuring NII, net profit and profitability growth FY15 results as at 30 June 2015 Segmental reporting - Consumer lending Compass NII, absolute and as % of Group NII Compass net profit (€m) and profitability (€m) 61% 58% 54% +10% 694 +13% 629 555 14.5% ROAC 10.4% 8.9% 94 72 48 FY13 FY14 FY15 FY13
Slide 30: CheBanca! deposit remix: higher focus on fee-driven products ...
CheBanca! deposit remix: higher focus on fee-driven products ... FY15 results as at 30 June 2015 Segmental reporting - Retail banking CheBanca! deposits breakdown trend in FY15 (€bn) 13.0 12.5 0.4 1.1 1.4 1.0 (3,0) 0.9 0.9 1.1 0.9 1.6 2.0 2.2 9,0 5,5 June14 Tied deposits Untied deposits Indirect dep
Slide 31: ... and “first bank” positioning enhancement ...
... and “first bank” positioning enhancement ... FY15 results as at 30 June 2015 Segmental reporting – Retail banking New products sold1 by type (%) 20% 8% Yellow advisory 26% 7% 45% 4% 17% 12% New fee-based product 10% Advanced advisory platform with asset allocation features 51% tuned on individua
Slide 32: ... fostering profitability, along with cost of funding reduction
... fostering profitability, along with cost of funding reduction FY15 results as at 30 June 2015 Segmental reporting – Retail banking Revenues and operating profit trend (€m) CheBanca! average cost of funding (%) Fees: 17% of total revenue 2.7 2.7 2.5 2.4 2.3 2.1 1.9 FY14 avg.: 2.3% 1.7 1.7 1.6 164
Slide 33: Agenda
Agenda Section 1. FY15 Results - Mediobanca Group Section 2. FY15 Results – Segmental reporting Section 3. First step in MAAM set up - Cairn Capital acquisition Section 4. 3YBP Where we are Annexes 1. Quarterly segmental reporting tables 2. Asset quality details by business as at June 2015 3. Princi
Slide 34: Setting up MAAM with Cairn Capital acquisition
Setting up MAAM with Cairn Capital acquisition First step in MAAM set up – Cairn Capital acquisition Section 3 MAAM rationale WHY Cairn Capital WHY Credit first for MB Group Low capital intensive business, Key product in Alternative Asset Asset specialist with €13bn AUM competence driven Manag
Slide 35: Cairn Capital: strong skills and track record in credit since 2004
Cairn Capital: strong skills and track record in credit since 2004 First step in MAAM set up – Cairn Capital acquisition Section 3 Cairn subordinated financials fund Multi asset credit managed account Cairn special opportunities credit fund Multi asset credit fund Cairn European ABS strate
Slide 36: Platform set for bigger size and scalability
Platform set for bigger size and scalability First step in MAAM set up – Cairn Capital acquisition Section 3 Cairn Capital Platform¹ Discretionary Legacy L/T Portfolio Advisory Real Estate Asset Management Asset Management Advisory Services $2.1bn AUM $3.5bn AUM $9.1bn Advisory Pooled funds Repl
Slide 37: Growth opportunities with MB Group
Growth opportunities with MB Group First step in MAAM set up – Cairn Capital acquisition Section 3 Deal structure Mediobanca S.p.A. MB to acquire upfront majority 51% of Cairn Capital, management to retain equity MAAM Holdco. UK Call option up to 100% after 3Y (MB shares) Final price subject t
Slide 38: Mediobanca gaining more visibility in AUM world
Mediobanca gaining more visibility in AUM world First step in MAAM set up – Cairn Capital acquisition Section 3 MB AUM trend by business (€bn, June 2015) €35bn 13.0 2.9 2.2 8.8 7.8 CMB Banca Esperia (50%) Spafid CheBanca! Cairn Total MB Group AUM MB gathering roughly €35bn AUM, with different bran
Slide 39: To recap: acquisition rationale and strategic fit
To recap: acquisition rationale and strategic fit First step in MAAM set up – Cairn Capital acquisition Section 3 100% fee earnings business Light capital usage business MEDIOBANCA strategy 100% non-domestic fee revenues, minor but welcome contribution to currency exposure rebalance Good e
Slide 40: Agenda
Agenda Section 1. FY15 Results - Mediobanca Group Section 2. FY15 Results – Segmental reporting Section 3. First step in MAAM set up - Cairn Capital acquisition Section 4. 3YBP Where we are Annexes 1. Quarterly segmental reporting tables 2. Asset quality details by business as at June 2015 3. Princi
Slide 41: Business plan 2014/16: goals and actions
Business plan 2014/16: goals and actions 3Y Business plan: where we are after 2Y Section 4 Mediobanca aims to be: a simpler, more valuable banking group focused on three growing, highly specialized banking businesses delivering a sustainable profitability over the cycle by: 1 Reducing equity exposur
Slide 42: Principal Investing: reduce equity exposure….
1 Principal Investing: reduce equity exposure…. 3Y Business plan: where we are after 2Y Section 4 Goals & actions What we have done in last 24m What to do in next 12m All stakes reclassified as available for sale (“AFS”) and moved to Principal Equity Investing (“PI”) division Different focus All
Slide 43: …and invest redeployed K into banking businesses
2 …and invest redeployed K into banking businesses 3Y Business plan: where we are after 2Y Section 4 Businesses with differentiated and recognized brand Tailor-made and Leveraging on long- customer-driven standing trends (no flow) businesses Corporate & Investment banking Consumer lending Wealth man
Slide 44: CIB Boost profitability also improving use of capital
CIB Boost profitability also improving use of capital 3Y Business plan: where we are after 2Y Section 4 Goals & actions What we have done in last 24m What to do in next 12m Senior hiring: i.e. co-head of CIB, head of Run new large/mid caps coverage model France, head of FIG, head of Lending Re
Slide 45: PB/WM/MAAM Grow the AUM
PB/WM/MAAM Grow the AUM 3Y Business plan: where we are after 2Y Section 4 Goals & actions What we have done in first 24m What to do in next 12m Several possible deals analysed, in US Cairn Capital: foster growth with Wealth Management private equity market and UK credit funds investments in dist
Slide 46: Compass Leverage on franchise to boost ROAC
Compass Leverage on franchise to boost ROAC 3Y Business plan: where we are after 2Y Section 4 Goals & actions What we have done in first 24m What to do in next 12m Leadership affirmed: Compass ranked 1st BP16 target for loan already achieved Italian consumer company with a 12.3% More focus on
Slide 47: CheBanca! Accelerate reshaping, definitively profitable
CheBanca! Accelerate reshaping, definitively profitable 3Y Business plan: where we are after 2Y Section 4 Goals & actions What we have done in last 24m What to do in next 12m Banking offer enlarged, AUM platform set Foster growth in indirect deposits Customer portfolio rebalanced from yield-
Slide 48: Improve ROE without compromises on risks and quality
3 Improve ROE without compromises on risks and quality 3Y Business plan: where we are after 2Y Section 4 Goals & actions What we have done in last 24m What to do in next 12m Corporate: growth resumed in last 12m Loan book: high-single digit growth (loan up 10%), concentration reduced Cost of r
Slide 49: FY15 results as at 30 June 2015
FY15 results as at 30 June 2015 Milan, 4 August 2015
Slide 50: Annexes
Annexes 1. Quarterly segmental reporting tables 2. Asset quality details by business as at June 2015 3. Principal investing: main equity investments as at June 2015 50
Slide 51: Mediobanca Group - Quarterly A&L
Mediobanca Group - Quarterly A&L Annex 1 D D A&L - €bn June15 Mar15 Dec14 Sept14 June14 QoQ YoY Funding 42.7 42.8 43.0 44.0 45.8 -7% Bonds 19.7 19.8 20.2 21.1 22.6 -13% Retail direct deposits 9.6 10.1 10.9 11.3 11.5 -4% -16% ECB 5.5 5.1 5.1 5.1 5.5 +8% Others 7.9 7.9 6.8 6.5 6.2 +27% Loans to custom
Slide 52: Mediobanca Group - Quarterly P&L
Mediobanca Group - Quarterly P&L Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q P&L - €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 2,045 1,819 12% 530 501 489 525 551 Net interest income 1,143 1,087 5% 303 292 281 267 278 Fee income 472 424 11% 111 101 113 147 149 Net treasury income 207 45
Slide 53: Corporate & Investing banking (WB+PB)
Corporate & Investing banking (WB+PB) Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 776 600 29% 153 231 172 219 212 Net interest income 251 273 -8% 66 64 65 57 68 Fee income 343 304 13% 82 71 78 112 122 Net treasury income 182 23 6 97 29 51 22 To
Slide 54: Wholesale banking
Wholesale banking Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 644 460 +40% 123 196 137 189 169 Net interest income 218 233 -7% 58 56 57 47 58 Fee income 259 225 +15% 61 47 56 95 101 Net treasury income 167 1 4 93 23 46 9 Total costs (293) (250)
Slide 55: Private banking
Private banking Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 132 140 -6% 31 35 36 31 43 Net interest income 34 40 -16% 8 8 8 9 9 Fee income 84 78 7% 21 24 22 17 21 Net treasury income 15 22 -31% 2 4 5 5 13 Total costs (92) (84) 10% (23) (23) (25
Slide 56: Principal investing
Principal investing Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 254 288 109 14 68 62 110 Gains from disposals 123 240 7 101 11 4 20 Impairments (21) (25) (7) (2) (5) (7) (1) Net result 335 449 102 106 74 53 109 Book value (€bn) 4.4 4.0 9% 4.4 4
Slide 57: Retail & Consumer banking (Compass + CheBanca!)
Retail & Consumer banking (Compass + CheBanca!) Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 1,008 934 8% 262 258 248 240 236 Net interest income 833 770 8% 221 212 202 198 199 Fee income 175 164 7% 41 46 46 42 37 Total costs (448) (436) 3% (122
Slide 58: Consumer banking - Compass
Consumer banking - Compass Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 841 770 9% 216 214 209 203 195 Net interest income 694 629 10% 184 177 169 165 163 Fee income 147 141 4% 32 37 40 38 32 Total costs (288) (277) 4% (77) (72) (73) (66) (78) G
Slide 59: Retail banking – CheBanca!
Retail banking – CheBanca! Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 167 164 +2% 46 45 39 37 41 Net interest income 139 141 -1% 37 36 33 33 35 Fee income 28 23 +22% 9 9 5 4 5 Total costs (161) (159) +1% (45) (40) (39) (37) (42) Labour costs (
Slide 60: Corporate centre
Corporate centre Annex 1 12M 12M D 2Q 1Q 4Q 3Q 2Q €m June15 June14 YoY June15 Mar15 Dec14 Sept14 June14 Total income 64 53 20% 17 18 16 14 13 Net interest income 55 47 18% 15 14 14 12 12 Fee income 9 6 38% 2 3 2 2 1 Total costs (57) (56) 1% (14) (16) (15) (12) (16) Loan provisions (15) (33) -53% (3)
Slide 61: Annexes
Annexes 1. Quarterly segmental reporting tables 2. Asset quality details by business as at June 2015 3. Principal investing: main equity investments as at June 2015 61
Slide 62: MB Group asset quality
MB Group asset quality Annex 2 Group net NPLs (“deteriorate”) by segment Group net NPLs and coverage by category (June 2015) (June 2015, €m, %) 1,400 1,200 Net NPLs: €1.2bn 66% 50% 48% 49% 53% Net NPLs/net loans: 3.5% 1,200 95 Leasing 1,000 139 WB and 24% Private 800 banking 37% 600 659 1,152 400 Re
Slide 63: Asset quality: wholesale
Asset quality: wholesale Annex 2 Group net NPLs (“deteriorate”) by segment WB1 net NPLs and coverage by category (June 15) (June 15, €m, %) Net NPLs: €1.2bn 600 53% 54% 100% 53% Net NPLs/net loans: 3.5% 500 Leasing 24% WB and 400 97 Private banking 300 37% 200 330 427 Retail Consumer 100 banking cre
Slide 64: Asset quality: consumer credit
Asset quality: consumer credit Annex 2 Group net NPLs (“deteriorate”) by segment Consumer net NPLs and coverage by category (June 15) (June 15, €m, %) Net NPLs: €1.2bn 450 88% 60% 30% 61% 68% Net NPLs/net loans: 3.5% 400 Leasing 350 24% 300 54 250 10 WB and 200 Private 141 150 302 Retail banking 100
Slide 65: Asset quality: retail banking
Asset quality: retail banking Annex 2 Group net NPLs (“deteriorate”) by segment (June Retail net NPLs and coverage by category 15) (June 15, €m, %) Net NPLs: €1.2bn 160 53% 32% 30% 26% 48% Net NPLs/net loans: 3.5% 140 19 6 Leasing 120 21 24% 100 80 150 WB and 104 60 Private banking 40 37% 20 Retail
Slide 66: Asset quality: leasing
Asset quality: leasing Annex 2 Group net NPLs (“deteriorate”) by segment (June Leasing net NPLs and coverage by category 15) (June 14, €m, %) Net NPLs: €1.2bn 300 48% 24% 27% 11% 30% Net NPLs/net loans: 3.5% 250 33 14 Leasing 200 24% WB and 150 167 270 Private banking 100 37% Retail 50 56 banking Co
Slide 67: MB Group asset quality
MB Group asset quality Annex 2 Group net bad loans (“sofferenze”) by segment Group net bad loans and coverage by segment1 (June 15) (June 15, €m, %) 300 Net bad loans: €259m 100% 88% 53% 49% 66% Net bad loans/net loans: 0.8% 250 WB & Private 56 Leasing 22% banking 200 1% 150 104 Consumer 257 credit
Slide 68: Annexes
Annexes 1. Quarterly segmental reporting tables 2. Asset quality details by business as at June 2015 3. Principal investing: main equity investments as at June 2015 68
Slide 69: Principal Investing: main equity investments
Principal Investing: main equity investments Annex 3 % ordinary share June 2015 Book value €m AFS reserve of capital Assicurazioni Generali 13.24% 3,312 n.s.1 Pirelli &C. 3.02% 217 90 RCS Mediagroup 6.2% 37 6 Italmobiliare 9.5% 54 19 Atlantia 2.71% 496 193 Others 38 11 Total listed companies 4,154 3
Slide 70: Disclaimer
Disclaimer This presentation contains certain forward-looking statements, estimates and targets with respect to the operating results, financial condition and business of the Mediobanca Banking Group. Such statements and information, although based upon Mediobanca’s best knowledge at present, are ce
Slide 71: Investor contacts
Investor contacts Mediobanca Group Investor Relations Piazzetta Cuccia 1, 20121 Milan, Italy Jessica Spina Tel. no. (0039) 02-8829.860 Luisa Demaria Tel. no. (0039) 02-8829.647 Matteo Carotta Tel. no. (0039) 02-8829.290 Email: investor.relations@mediobanca.com http://www.mediobanca.com 71