Mediobanca - Banca Di Credito Finanziario S.p.a. · MIL:MB

Mediobanca - Banca Di Credito Finanziario — Mediobanca — 9M FY2015 Earnings Presentation

23 slides from Mediobanca - Banca Di Credito Finanziario's earnings presentation, May 7, 2015

  1. Slide 1: 9M/last 3M results as at 31 March 2015

    9M/last 3M results as at 31 March 2015 Milan, 7 May 2015

  2. Slide 2: Growth and quality

    Growth and quality 9M/last 3M results as at March 2015 Section 1 Mediobanca Group as at 31 March 2015  Loan book up in both corporate and retail segments Loan book up  Low rates managed via improved asset/funding mix: NII up YoY and QoQ Top line up  Building up fee income, enhanced outlook ahead

  3. Slide 3: Net profit up 18% to €466m in 9M; last Q record level in last 5Y (€205m)

    Net profit up 18% to €466m in 9M; last Q record level in last 5Y (€205m) 9M/last 3M results as at March 2015 Section 1 9m 9m D €m 1Q15 4Q14 3Q14 2Q14 1Q14 Mar15 Mar14 YoY1 Total income 1,516 1,268 +19% 501 489 525 551 393 Net interest income 840 809 +4% 292 281 267 278 274 Fee income 361 275 +31% 10

  4. Slide 4: A&L back to loan growth after optimization

    A&L back to loan growth after optimization 9M/last 3M results as at March 2015 Section 1 €bn Mar15 Dec14 Mar14 D D QoQ1 YoY1 Funding 42.8 43.0 48.1 -11% Bonds 19.8 20.2 23.5 -2% -16% Retail direct deposits 10.1 10.9 11.8 -7% -15% ECB 5.1 5.1 6.5 -22% Others 7.9 6.8 6.2 +17% +27% Loans to customers 3

  5. Slide 5: Top line up both in CIB and RCB

    Top line up both in CIB and RCB 9M/last 3M results as at March 2015 Section 1 Group revenues (€m) RCB revenues by quarter (€m) up 6% Avg: €249m Avg: €234m 258 1,516 +19% 1,268 144 178 746 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 +7% 698 NII Fees CIB revenues by quarter (€m) 623 +61% 388 up 38% Avg: €208m

  6. Slide 6: Managing low rates with improved A&L mix; growth in loans and NII

    Managing low rates with improved A&L mix; growth in loans and NII 9M/last 3M results as at March 2015 Section 1 A&L mix (€m) Net interest income (€m) +7% €55bn €53bn +4% 292 19.8 -22% 15.4 278 281 274 267 64 13.3 +8% 14.3 65 68 65 57 14.3 +6% 15.1 June 14 March 15 195 199 198 202 212 Loans RCB Loans

  7. Slide 7: Building up fee income stream

    Building up fee income stream 9M/last 3M results as at March 2015 Section 1 Group fee income (€m) RCB fees by quarter (€m) up 9% Avg:€45m 46 Avg: €41m +31% 361 275 +6% 134 126 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 +44% 261 Consumer Retail 182 CIB fees by quarter (€m) 9M14 9M15 CIB RCB Other up 15% Avg:

  8. Slide 8: Asset quality improving in all segments

    Asset quality improving in all segments 9M/last 3M results as at March 2015 Section 1 NPLs (“partite deteriorate”) trend Cost of risk by segment (bps) March14 Dec 14 March15 Net NPLs (€m) 1,357 1,220 1,173 491 Net NPLs/CT1 23% 19% 17% 384 351 Net NPLs /loans 4.2% 3.8% 3.6% 286 296 281 283 o/w CIB 3.

  9. Slide 9: Comfortable capital and leverage position

    Comfortable capital and leverage position 9M/last 3M results as at March 2015 Section 1  CET1 phase-in up 60 bps in last 3m to 11.6% due to CET1 ratio: phase-in/fully phased internal capital generation and progressive application of Basel III (40% positive AFS reserve now booked) 12.5% 12.7% 12.7%

  10. Slide 10: CIB: growth resumed in loans and top line

    CIB : growth resumed in loans and top line 9M/last 3M results as at March 2015 Section 1 Corporate and Private Banking  Growth resumed in loan book: €4.7bn new loans in 9M15 (up 74% YoY) reverting to a Wholesale Banking 8% increase in loan stock (to €13.4bn)  NII starting to benefit from cost of f

  11. Slide 11: RCB: steady and sustainable growth ongoing

    RCB: steady and sustainable growth ongoing 9M/last 3M results as at March 2015 Section 1 Retail and Consumer Banking Compass  Loans and revenues growing steadily (both up 9% in 9M15) Consumer lending  Cost of risk down to 359 bps in 1Q15 SUSTAINABLE GROWTH  ROAC at 11% in 9M15 (>15% in last quart

  12. Slide 12: Closing remarks

    Closing remarks Closing remarks Section 1  Mediobanca among the few banks able to increase  Loan book 9M/Last 3M 2015  Top line Banking enhanced  Profitability  Capital ratios  CIB: recovery accelerating  Compass: value-driven growth continuing Coming quarters  CheBanca!: focus on savings/ho

  13. Slide 13: 9M/last 3M results as at 31 March 2015

    9M/last 3M results as at 31 March 2015 Milan, 8 May 2015

  14. Slide 14: Annexes

    Annexes Quarterly segmental reporting tables and key divisional data 14

  15. Slide 15: CIB results

    CIB results 9M/3M results as at March 2015 Annexes 9m 9m D €m 1Q15 4Q14 3Q14 2Q14 1Q14 Mar15 Mar14 YoY1 Total income 623 388 +61% 231 172 219 212 116 Net interest income 185 206 -10% 64 65 57 68 65 Fee income 261 182 +44% 71 78 112 122 57 Net treasury income 176 1 97 29 51 22 (7) Total costs (269) (

  16. Slide 16: CIB: resuming loan growth, strong positioning in IB

    CIB: resuming loan growth, strong positioning in IB 9M/3M results as at March 2015 Annexes New corporate loans (€bn) CIB loan stock (€bn) M&A league table (Jan-March 2015)1 132 Rank Mkt No. No. deals Company value 92 share Deals ($bn) 1.2 hybrid Mediobanca 12.6 50.4% 9 4.7 Lazard 12.0 48.0% 4 1.8 JP

  17. Slide 17: Retail and Consumer Banking results

    Retail and Consumer Banking results 9M/3M results as at March 2015 Annexes 9m 9m D €m 1Q15 4Q14 3Q14 2Q14 1Q14 Mar15 Mar14 YoY1 Total income 747 698 +7% 258 248 240 236 237 Net interest income 612 571 +7% 212 202 198 199 195 Fee income 134 126 +6% 46 46 42 37 42 Total costs (327) (316) +3% (112) (11

  18. Slide 18: Consumer banking: Compass results

    Consumer banking: Compass results 9M/3M results as at March 2015 Annexes 9m 9m D €m 1Q15 4Q14 3Q14 2Q14 1Q14 Mar15 Mar14 YoY1 Total income 626 574 +9% 214 209 203 195 196 Net interest income 510 465 +10% 177 169 165 163 159 Fee income 115 109 +6% 37 40 38 32 36 Total costs (211) (199) +6% (72) (73)

  19. Slide 19: Retail banking: CheBanca! results

    Retail banking: CheBanca! results 9M/3M results as at March 2015 Annexes 9m 9m D €m 1Q15 4Q14 3Q14 2Q14 1Q14 Mar15 Mar14 YoY1 Total income 121 124 -2% 45 39 37 41 41 Net interest income 102 106 -4% 36 33 33 35 36 Fee income 19 17 +8% 9 5 4 5 6 Total costs (116) (117) -1% (40) (39) (37) (42) (41) Lab

  20. Slide 20: CheBanca!: deposits remix and repricing ongoing

    CheBanca!: deposits remix and repricing ongoing 9M/3M results as at March 2015 Annexes CheBanca! deposits breakdown (€bn) Indirect deposits breakdown (€bn) 13.2 2.6 13.0 12.7 1.3 0.7 1.5 2.6 0.8 1.7 0.9 1.6 1.7 1.5 1.3 0.4 0.9 2.0 0.2 9,5 9,0 0.7 0.6 0.4 6.4 0.4 0.5 0.5 March14 June14 March15 March1

  21. Slide 21: Principal Investing results

    Principal Investing results 9M/3M results as at March 2015 Annexes 9m 9m D €m 1Q15 4Q14 3Q14 2Q14 1Q14 Mar15 Mar14 YoY1 Total income 144 178 -19% 14 68 62 110 45 Gains from disposals 117 220 -47% 101 11 4 20 69 Impairments (14) (25) -45% (2) (5) (7) (1) (3) Net result 233 340 -32% 106 74 53 109 95 B

  22. Slide 22: 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

  23. Slide 23: 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 23

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