Credito Emiliano S.p.a. · MIL:CE

Credito Emiliano — 9M 2009 Earnings Presentation

15 slides from Credito Emiliano's earnings presentation, 2009

  1. Slide 1: 9M09 Group Results

    9M09 Group Results

  2. Slide 2: Executive Summary

    Executive Summary 3Q09 Highlights • Credit quality improving as LLPs reduce sharply qoq • AUM volumes keep on increasing along the year, outperforming the industry, pushing up Commission Income • Core TIER I ratio 8.5% and TIER Total at 11.7% • Payroll cost decreasing qoq, net of one off charges for

  3. Slide 3: P&L

    P&L EURm 9M08 9M09 % yoy 1Q09 2Q09 3Q09 % qoq Total Income 743.0* 711.1 -4.3 222.3 226.3 262.5 +16.0 Operating Costs -470.4 -500.1 +6.3 -165.0 -163.2 -171.9 +5.3 Gross Operating Profit 272.6 211.0 -22.6 57.3 63.1 90.6 +43.6 Amortization and Depreciation -26.1 -22.2 -14.9 -7.1 -7.2 -7.9 +9.7 Net Oper

  4. Slide 4: Revenues and Costs

    Revenues and Costs 743.0 711.1 • Net Interest Income: -23.5% yoy mostly driven by lending volumes and 427.7 327.2 rates drop; +19% qoq as a result of EURm securities investments’ profit 262,5 Non Interest Income keeps growing 222.3 226.3 • 383.9 119.4 94.9 112,9 due to AUM and Banking fees increase

  5. Slide 5: Quarterly Revenues Breakdown

    Quarterly Revenues Breakdown 6 6.08 5.67 6.02 6.02 6.07 5 5.36 5.44 5.55 • Spread reduction continues as 4.74 4.64 4.30 current interest rates remain 4 3.99 3.69 3.67 3.72 3.74 3.53 extremely low % 3.39 3.73 3.57 3.54 3.01 3 2.89 2.79 2.53 2.55 2 2.45 1.93 2.31 1.73 1.68 1.77 1.83 1.41 1.20 1 1.05 0

  6. Slide 6: Deposits and Assets Under Management

    Deposits and Assets Under Management Eum 2007 2008 1Q09 1H09 9M09 Sight Deposits 9,520 10,444 10,099 10,495 10,094 Time deposits 1,785 3,275 2,805 2,181 2,244 Repos 735 2,216 1,229 702 389 Deposits & Repos 12,040 15,935 14,133 13,378 12,727 Insurance Reserves 2,146 1,794 1,891 2,115 2,247 Bonds 5,22

  7. Slide 7: Mutual Funds and SICAVs Inflows – Assogestioni analysis

    Mutual Funds and SICAVs Inflows – Assogestioni analysis 130 AUM evolution: 100=AuM at 1/1/2009 • Credem has anticipated the ok positive mutual funds inflows 120 trend, showed by the industry only in the last months 110 • As a result, Credem market share on Mutual Funds and 100 SICAVS at September 20

  8. Slide 8: Loan Book Breakdown

    Loan Book Breakdown -2.2% -2.4% -0.7% 17,621 17,236 18000 16,841 16,721 2,847 2,804 • Lending is slightly down qoq after the 2,788 2,782 sharp volumes decline in 1Q and 2Q 12000 5,276 5,313 5,426 5,503 Almost 90% of loans is at variable rate EURm • 1,947 1,934 1,910 1,936 • Loan to Deposit Ratio is

  9. Slide 9: Credit Quality

    Credit Quality 2.08 80 80 1.93 75.2 1.77 71 0.50 % on Net Tolal Loans 1.56 0.56 60 60 0.55 58.1 59 60.9 58 0.57 EURm 0.82 bps 0.70 40 40 0.65 35 0.52 25.9 20 20 0.67 0.76 0.47 0.58 0 0 2008 1Q09 1H09 9M09 2008 1Q09 1H09 9M09 Net NPLs Net Watchlist & Restructured Net Past Due LLPs Cost of Risk 350 31

  10. Slide 10: Assets and Liabilities

    Assets and Liabilities 15,935 15000 14,133 13,378 • Deposits & Repos assets 12,727 12,040 decrease have been replaced by the increase of EURm 10000 Interbank liabilities 5,228 5,225 4,853 5000 3,825 4,041 4,111 3,997 1,099 1,364 1,493 0 Interbank, net Deposits & Repos Bonds 2007 2008 1Q09 1H09 9M09

  11. Slide 11: Solid Capital Ratios

    Solid Capital Ratios 10.0% 10.9% 11.7% 1800 9.6% 1600 9.2% 7.5% 7.9% 8.5% 1400 7.2% 8.1% 1200 • Undisputable capital ratios EURm 1000 1796 1807 1908 1942 • Tier 1 capital is all core: no hybrids 800 1501 1342 1358 1376 1415 contribute to tier 1 capital build up 1306 600 400 616 513 200 301 361 203 0

  12. Slide 12: Distribution Network Expansion

    Distribution Network Expansion 2006 2007 2008 3Q09 Credem Branches 447 479 563 552 B.ca Euromobiliare Branches 21 22 27 25 Total Branches 468 501 590 577 4 75 10 Corporate Centres 41 42 45 44 29 21 Credem Points 25 29 36 39 10 134 B.ca Euromobiliare Fin. Stores 22 22 22 18 47 8 Credem FAs 484 468 64

  13. 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

  14. Slide 14: A Complete Group

    A Complete Group Commercial banking Wealth Management Investment Banking Other 100% 98.5% 100% 100% 100% 100% na 50% 100% 100% 100% 100% 100% 100% 100% 100% 14

  15. 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

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