Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — H1 2009 Earnings Presentation
14 slides from Credito Emiliano's earnings presentation, August 2009
Slide 1: 1H09 Group Results
1H09 Group Results
Slide 2: Executive Summary
Executive Summary 1H09 Highlights • Profit substantially stable quarter on quarter • Spreads and lending volumes contraction continues, as well as credit quality worsening • Fees increasing quarter on quarter due to volumes growth • Trading Income takes advantage by markets positive performance in t
Slide 3: P&L
P&L EURm 1H08 1H09 % yoy 1Q09 2Q09 % qoq Total Income 533.3 448.6 -15.9 222.3 226.3 +1.8 Operating Costs -322.4 -328.2 +1.8 -165.0 -163.2 -1.1 Gross Operating Profit 210.9 120.4 -42.9 57.3 63.1 +10.1 Amortization and Depreciation -16.5 -14.3 -15..4 -10.8 -3.5 -67.6 Net Operating Profit 194.4 106.1 -
Slide 4: Revenues and Costs
Revenues and Costs 533.3 448.6 •Net Interest Income: big difference 286.9 yoy (-25%) and qoq (-21%) mostly 214.3 driven by rates drop EURm 222.3 226.3 •Non Interest Income recovering in 94.9 119.4 the quarter taking advantage by 246.4 234.3 131.4 improved markets conditions 102.9 0 1H08 1H09 1Q09 2Q
Slide 5: Quarterly Revenues Breakdown
Quarterly Revenues Breakdown 6.08 6.00 6.02 6.02 6.06 5.67 5.55 5.36 5.44 5.00 4.74 4.64 4.30 •Spread reduction continues at a 4.00 3.69 3.67 3.72 3.74 3.53 slower pace then previous 3.73 3.57 3.00 3.39 3.53 3.01 2.89 quarter 2.53 2.55 2.45 2.00 1.93 2.31 1.73 1.77 1.83 1.41 1.68 1.00 1.05 0.00 4Q06
Slide 6: Deposits and Assets Under Management
Deposits and Assets Under Management Eum 2008 1Q09 1H09 Sight Deposits 10,444 10,099 10,495 •Repos reduction and SICAVs Time deposits 3,275 2,805 2,181 increase are the most evident Repos 2,216 1,229 702 recent trends Deposits & Repos 15,935 14,133 13,378 Insurance Reserves 1,794 1,891 2,115 Bonds 4
Slide 7: Loan Book Breakdown
Loan Book Breakdown 10.0 9.0 8.0 17,621 17,236 16,841 7.0 6.3 6.1 18,000 2,847 6.0 5.4 EURbn 2,804 2,788 5.0 4.7 5.0 4.1 4.2 4.1 4.0 4.0 12,000 5,276 5,313 4.0 3.5 3.7 5,426 EURm 1,947 1,934 3.0 1,910 6,000 2.0 1.6 1.5 1.2 1.3 7,548 7,185 6,717 1.0 0 0.0 2008 1Q09 1H09 2006 2007 2008 1H09 Short Term
Slide 8: Credit Quality
Credit Quality 1.93 1.77 1.56 0.56 0.55 % on Net Tolal Loans •Net NPL ratio is stable qoq. Net Watchlist ratio 0.57 0.70 show a small increase 0.65 0.52 •Coverage is 61%, was 62% at the end of 2008 and 65% at the end of 1H08 0.58 0.67 0.46 2008 1Q09 1H09 NPLs Watchlist & restructured Past Due 350 30
Slide 9: Assets and Liabilities
Assets and Liabilities 6000 5,395 4,6914,510 15, 935 5000 14, 133 15 , 0 0 0 13, 378 4000 3,381 12, 040 EURm 3000 2,362 2,0252,263 10 , 0 0 0 2000 1,4031,243 5, 2254, 853 1,129 3, 825 4, 041 4, 111 1000 467 5,000 284 1, 0991, 3641, 493 0 Financial Assets held f or Financial Assets valued at Financia
Slide 10: Solid Capital Ratios
Solid Capital Ratios 10.9% 1,800 9.6% 1,600 9.2% 7.9% 1,400 7.2% 8.1% 1796 1908 1,200 1,000 1501 • Undisputable capital ratios 1376 800 1342 1306 600 400 513 200 301 203 0 2007 2008 1H09 Tier I Capital Tier Total Capital Exces s Capital 57.1% 55.8% •Given the current scenario, the BoD 50.8% 40.9% 49
Slide 11: Distribution Network Expansion
Distribution Network Expansion 5 1 2007 2008 1H09 76 0 31 21 Credem Branches 479 563 559 B.ca Euromobiliare Branches 22 27 25 10 134 Total Branches 501 590 584 50 3 8 Corporate Centres 42 45 44 5 30 Credem Points 29 36 38 1 B.ca Euromobiliare Fin. Stores 22 22 20 44 51 2 Credem FAs 468 640 666 4 Ban
Slide 12: 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% CREDEM 12
Slide 13: A Complete Group
A Complete Group Commercial banking Wealth Management Investment Banking Other CREDEM 100% 98.5% 100% 100% 100% Life Insurance 100% 100% 50% 100% FIDUCIARIA Spa General Insurance 100% * na 100% 100% 100% 100% 100% 13
Slide 14: 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
Credito Emiliano S.p.A. (Credem) — H1 2009 Earnings Presentation on 6ix