Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — FY2007 Earnings Presentation
18 slides from Credito Emiliano's earnings presentation, March 2008
Slide 1: FY07 Group Results
FY07 GROUP RESULTS 1 Investor Relations March 2008
Slide 2: CREDEM Group description
• CREDEM Group description • Highlights • 2007 Performance 2 Investor Relations March 2008
Slide 3: Shareholders' base
Shareholders’ base Pact among 230 More than 2,900 other shareholders shareholders Maramotti family 35.5% Others 37.5% 73.0% 27.0% CREDEMHOLDING Free Float 72.4% 27.6% CREDEM 3 Investor Relations March 2008
Slide 4: Group structure
Group structure 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% Total Customers Business* 75 Billion AUM 23% 100% AUC 33 % Deposits & Bonds 23% Loa
Slide 5: Network and Human Resources
Network and Human Resources 2006 2007 1 5 Credem Branches 448 478 71 23 B.ca Euromobiliare Branches 21 23 21 Total Branches 469 501 10 132 Corporate Centres 41 42 53 15 br 3 7 Credem Points 25 29 an ch es 4 Banca Euro Financial Stores 37 40 op 21 en 1 ed 51 fr o 43 Credem Advisors 484 468 m Banca Eu
Slide 6: Highlights
• CREDEM Group description • Highlights • 2007 Performance 6 Investor Relations March 2008
Slide 7: Key figures
Key figures ROE EPS EUR 0.90 0.88 0.82 21.3% 23.2% 19.3% 18.3% 14.6% 0.51 0.51 11.6% 13.5% 8.5% 13.5% 11.1% 14.8% 0.39 0.40 0.35 0.22 0.26 0.17 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Dividend and Payout Ratio Capital 68.6% 57.1%
Slide 8: Executive Summary
Executive Summary • Net Interest Income sharp increase, weak Fees and Trading • Costs under control • Small Business lending strong, slowdown in Home Mortgages • Undisputable Credit Quality • Funds migration from Mutual Funds to SICAVs and Deposits • No impact from liquidity crisis • 34 new branches
Slide 9: Recent Developments
Recent Developments • Euromobiliare SIM dismissal completed • 50% stakes in Credemvita and Credemassicurazioni bought from ex partner Assurance Mutuelles de France • 5 private bank branches in main Italian cities acquired from Citibank • 50% stake in Credemassicurazioni sold to Reale Mutua as first
Slide 10: Trends
Trends ROE* Customers base (,000) 820 total customers 20.0% 800 15.0% 780 of w hich retail ers ustom customers 10.0% 18.3% 760 c 17.5% ,000 815 740 5.0% 720 0.0% 700 FY06 FY07 680 * pro-forma figure excluding the contribution of Euromobiliare SIM 2004 2005 2006 2007 Credit Quality Net NPL ratio of 0
Slide 11: 2007 Performance
• CREDEM Group description • Highlights • 2007 Performance 11 Investor Relations March 2008
Slide 12: Total Income
Total Income Total Income* Net Interest Income is up by 20.3% year on year due to the sound growth in lending volumes and spreads. 993.5 1,000.0 +0.7% 1,000 Commission Income decrease by 6% yoy. In particular, Asset 800 461.9 Management and Insurance fees are down 6.4% while Banking 546.2 -15.4% ser
Slide 13: Costs
Costs Cont’d Operating Costs* FY07 costs 3.8% increase is mainly due to: 700 •branch opening trend 650 592.6 615.2 +3.8% •national banking contract renewal 600 550 •change in compensation scheme to partially replace stock options 500 222.7 232.8 (no longer fiscally efficient after the latest tax ref
Slide 14: Lending
Lending Lending volumes (net of repos) Small Business volumes expansion is the result of the setup of dedicated sales force (200 people). 15.6 +8.3% Corporate lending to high quality customers, mainly small sized 14.4 SMEs, still performs very well. 15 2.3 +8.3% 2.1 Home mortgages market share is tw
Slide 15: Deposits & AUM
Deposits & AUM EURm 2006 2007 % yoy Outflows from Mutual Funds have been offset by strong increase in Deposits 10,020 11,305 +12.8 Deposits and SICAVs. Bonds 4,431 5,225 +17.9 Discretionary Accounts 5,931 5,495 -7.4 New Production amount to 1 EURbn equally splitted among AUM Mutual Funds 6,468 5,111
Slide 16: Liquidity
Liquidity Spread 6.00 Cont’d Liquidity position is closely monitored and not showing signs of stress within the current scenario. 5.44 5.67 5.00 5.36 4.64 Loan to Deposit ratio is 0.92. 4.34 4.40 4.49 4.00 4.07 3.30 3.39 3.69 3.67 3.74 In 2008, bonds maturities amount to 1.1bn, mostly 3.00 3.08 3.25
Slide 17: Group Income Statement
Group Income Statement EURm FY06 FY07 % yoy FY06* FY07* % yoy Total Income 1,060.9 1,038.5 +0.7 993.5 1,000.0 +0.7 Operating Costs -618.8 -631.0 +3.8 -592.6 -615.2 +3.8 EBITDA 442.1 407.5 -4.0 400.9 384.8 -4.0 Amortization and Depreciation -25.9 -30.8 +19.4 -25.7 -30.7 +19.3 EBIT 416.2 376.7 -5.6 37
Slide 18: Disclaimer and Contacts
Disclaimer and Contacts In accordance with section 2, Article 154-bis of the consolidated Law on Finance TUF), the Financial Reporting Manager Paolo Tommasini, declares that the accounting information contained in this press release correspond to documentary records, ledgers and accounting entries.
Credito Emiliano S.p.A. (CREDEM) — FY2007 Earnings Presentation on 6ix