Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — 9M25 Earnings Presentation
25 slides from Credito Emiliano's earnings presentation, 2025
Slide 1: Group Results 9M25
yr S= GROUP RESULTS 9M25
Slide 2: 9M25: Highlights
9M25: HIGHLIGHTS €506.4 MLN €407.7 14.8% MLN 13.1% PROFITABILITY NET Norm* Ann. norm.* Ann. norm.* PROFIT NET ROTE ROE PROFIT Gross NPL Ratio Net NPL 2.5% Ratio 2.2% 9M25 0.7% 1.7% ASSET QUALITY 16.23% CET1 7.82% Ratio 8.41% CAPITAL SOUNDNESS *Normalised figure is net of €98.6m (net of tax effect) f
Slide 3: 9M25: Highlights
9M25: HIGHLIGHTS +4.2% VOLUMES +5.0% +2.8% YoY +0.9% YoY YoY YoY Loans Direct funding +€2.9 9M25 BN PRODUCTION Customer funding >1.6 MLN +6.1% VS 9M24 CUSTOMERS Total customers Loans and funding: ABI Monthly Outlook October 2025 Credem Group net inflows include AUM, AUC, direct and insurance net inf
Slide 4: Business Diversification
BUSINESS DIVERSIFICATION Operating Income 525.3 504.4 480.0 522.7 475.4 461.6 465.5 Core Operating Income** 480.6 471.9 468.2 480.6 433.9 442.2 454.8 €/million 2.1% 1.8% 0.3% 0.5% 3.9% 1.9% 6.2% 0.4% 7.0% 3.9% 1.8% 4.4% 4.6% 1.9% 58% 49% 52% 54% 54% 56% 52% 37% 37% 40% 40% 42% 44% 44% 1Q24 2Q24 3Q24
Slide 5: Contribution to Consolidated Net Profit
CONTRIBUTION TO CONSOLIDATED NET PROFIT Commercial banking Credem Banca €232.8 mln Private Banking Credem Euromobiliare €38.9 mln Private Banking Extended Banking Services, Consumer Credit & Technology Credem Factor Avvera Credemtel €65.1 mln Credem Leasing MGT Wealth Management Euromobiliare SGR €8
Slide 6: Reclassified Income Statement
RECLASSIFIED INCOME STATEMENT ∆ vs €/million 2Q25 3Q25 Δvs 2Q25 9M24 9M25 • Excellent dynamics in the NII, up 3.8% compared to the 9M24 previous quarter, and in fee components, with the Core Net Interest Income 240.1 249.2 3.8% 847.6 723.6 -14.6% Non Interest Margin, NIM net of non-recurring Non Int
Slide 7: Net Interest Income
NET INTEREST INCOME Net Interest Income Euribor and spread BTP/Bund 286 285 277 272 148 240 249 139 138 6.0% 234 126 5.0% 111 104 83 4.0% 3.92% 3.81% 3.0% 3.56% 3.00% 2.56% 2.0% 2.11% 2.01% 1.0% 0.0% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 3 months Euribor (avg) Spread
Slide 8: Customer Spread
CUSTOMER SPREAD The Group confirmed its ability to sustain commercial profitability even in the third quarter with the customer spread at 286 bps and a slight narrowing of 1 basis point, while the Industry’s spread declined by 11 bps In detail, compared to 2Q25 data, the average loan rate for the Gr
Slide 9: Securities Portfolio
SECURITIES PORTFOLIO Securities portfolio breakdown (€/mln, %) Italian government bond (€/bn) 5.2 11,525 4.7 12,508 11,965 11,609 13,229 11,171 11,054 4.1 4.1 4.0 4.0 3.8 Ita Govies 9M25 HTC 4.0 HTCS 0.0 32% 33% 33% 37% 37% FVTPL 0.0 40% 42% Total 4.1 4% 4% 4% 6% 6% 1Q24 1H24 9M24 FY24 1Q25 1H25 9M2
Slide 10: Non Interest Margin
NON INTEREST MARGIN Total* (€/mln) 239.7 219.7 202.6 250.8 241.1 221.5 216.2 Performance Fees 20.7 9.4 32.3 8.4 1.3 2.5 10.0 9.8 33.1 18.2 8.2 23.0 23.0 1.8 50.6 Income from Financial 51.7 51.3 51.1 52.3 52.7 52.8 Activities 23.9 22.1 26.2 23.4 20.3 Banking Fees & others 18.4 22.2 Insurance Income 1
Slide 11: Operating Costs and D&A
OPERATING COSTS AND D&A Operating costs (€/mln) Employees 221 223 202 257 235 228 221 6,608 6,616 6,628 6,614 6,743 6,140 6,195 6,201 6,219 6,068 5,899 80 70 73 76 79 67 79 177 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 9M25 152 150 135 158 148 141 Financial Advisors 1Q24 2Q24 3Q24 4Q24 1Q25
Slide 12: Loans to Customers
LOANS TO CUSTOMERS Loans to customers (€/bn) Other Loans 9.6 9.4 9.2 9.5 9.2 9.6 9.3 Residential Mortgage 10.7 10.8 11.1 11.3 11.4 11.4 10.6 Leasing 3.3 3.3 3.3 3.4 3.4 3.4 3.5 Consumer Finance 3.3 3.5 3.6 3.7 3.8 3.9 4.0 Short-Term Loans 7.7 8.1 7.6 8.8 7.8 8.5 8.0 1Q24 1H24 9M24 2024 1Q25 1H25 9M2
Slide 13: Group Customers Funding: Net Inflows Breakdown
GROUP CUSTOMERS FUNDING: NET INFLOWS BREAKDOWN AUC Direct Deposits AUM + Insurance Total Total Net Inflows Net Inflows Total Total Net Inflowsnet Net Inflows netofof Corporate Corporate 3,832 3,410 3,552 3,394 3,569 3,268 2,932 2,303 2,575 2,947 2,299 2,028 1,336 1,482 1,319 970 Direct 611 497 596 d
Slide 14: Deposits, AUM and Insurance
DEPOSITS, AUM AND INSURANCE Total customer funding Direct deposits & retail bonds** €/mln 9M24 FY24 9M25 +5.0% YoY Sight / Saving Depo. 36,570 38,794 39,003 Industry Credem +177% Retail Bonds & Other Deposits* 1,097 455 540 Total Direct Funding 37,667 39,249 39,543 Insurance Reserves 9,240 9,396 10,
Slide 15: Asset Quality: Gross NPL Ratio and Cost of Risk
ASSET QUALITY: GROSS NPL RATIO AND COST OF RISK Gross Non Performing Loans (€/mln,%) Gross NPL Ratio Disposal 2.5% 2.6% Disposal FY23 ~40 mn ~49 mn Disposal 2.2% Gross non-performing FY24 ~56 mn 359 363 335 1.7% loans remained low at 611 298 267 9M25 232 million, also as a result of disposals amount
Slide 16: NPL: Coverage
NPL: COVERAGE NPL (€/mln) Gross Net Coverage Coverage ratio Bad Loans 232.3 39.9 82.8% UTP Loans 334.9 187.7 43.9% Past Due 43.9 25.9 41.0% 58.5% Total NPL 611.1 253.6 58.5% 46.3% 45.1% 39.8% + Net NPL +253.6 - (Shortfall + Addendum + Calendar) -0.8 Credem ITA** EU** EU NPL Net of Shortfall +252.8 d
Slide 17: Bonds Issuances and Maturities
BONDS ISSUANCES AND MATURITIES Recent issues (€/mln) Maturities (€/mln) 0 100 200 300 400 500 600 €/mln mag-25 T2 Retail 500+ 750+ 24 25 Istituzionale Covered Bond 500 gen-24 Covered Bond 100 set-23 Social SP Social lug-23 Social SP Retail Green Call Date Call Date 2023 lug-23 Social SP Retail Senio
Slide 18: Liquidity
LIQUIDITY NSFR LCR 173% 139% 167% 168% 132% 136% FY23 FY24 9M25E FY23 FY24 9M25 Loan to Deposit Ratio* 0.96 0.92 0.92 • Liquidity ratios remained sound and well above minimum capital requirements, enabling the Group to have a greater flexibility in setting future funding strategies FY23 FY24 9M25 *
Slide 19: Consolidated Capital Ratios
CONSOLIDATED CAPITAL RATIOS Fully phased figures Fully phased figures Credem Group Credemholding €, million FY24 9M25 FY24 9M25 CET 1 3,660 3,910 3,391 3,634 Total Capital 4,093 4,354 3,979 4,237 Capital absorption from: 1,748 1,793 1,746 1,791 Credit and Counterparty 1,532 1,534 1,530 1,533 Market
Slide 20: Attachments
ATTACHMENTS
Slide 21: Reclassified Consolidated Income Statement by Business Line
RECLASSIFIED CONSOLIDATED INCOME STATEMENT BY BUSINESS LINE Extended Banking Commercial Private Asset Wealth Consolidation 9M25 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology Net Interest Income 537.3 52.6 114.5 704.4 10.0 5.6
Slide 22: Volumes Reclassified by Business Line
VOLUMES RECLASSIFIED BY BY BUSINESS LINE Extended Banking Commercial Private Asset Wealth Consolidation 9M25 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology CUSTOMER LOANS 34,606.6 786.5 8,207.9 43,601.0 21.8 21.8 -7,490.4 36,13
Slide 23: Assets & Liabilities
ASSETS & LIABILITIES Assets (€/mln) 36,687 36,132 1H25 9M25 10,765 10,474 7,345 6,822 4,349 4,311 4,273 2,533 119 99 Fin. Assets through Fin. Assets HTCS Fin. Assets HTC Fin. Assets (insurance Due from banks Loans to customers P&L companies) Liabilities (€/mln) 39,298 39,010 Wholesale Retail 1H25 9M
Slide 24: Liquidity Reserves
LIQUIDITY RESERVES Liquidity Reserves (€/bn) • The total value of the Group's Liquidity Reserves stood at €18.0 billion, equal to 18.0 27% of Total Assets Total 17.0 • The value of Cash and deposits with Central Banks decreased to €1.8 billion Other ECB eligible 6.6 unencumbered assets 5.9 • ECB eli
Slide 25: Disclaimer and Contacts
DISCLAIMER AND CONTACTS The manager responsible for preparing the company’s financial reports Mr. Giuseppe Malato of Credito Emiliano S.p.A., declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corres
Credito Emiliano S.p.A. (Credem) — 9M25 Earnings Presentation on 6ix