Banca Sistema S.p.A. · MIL:BST
Banca Sistema — 9M 2015 Earnings Presentation
13 slides from Banca Sistema's earnings presentation, Oct 30, 2015
Slide 1: Presentation of 9M 2015 Results
Presentation of 9M 2015 Results 30 October 2015
Slide 2: Disclaimer
Disclaimer The distribution of this presentation in other jurisdictions may be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of, and observe, these restrictions. To the fullest extent permitted by applicable law, the companie
Slide 3: 9M 2015 Results at a Glance
9M 2015 Results at a Glance* Net Interest income +21% y/y Total income +10% y/y (Trading income from Govies -45% y/y) Delivering growth Net Income +22% y/y ROAE 35%, including the €37.5m raised in the IPO Factoring 9M 2015 Turnover +20% y/y, with 92% of the €876m Turnover Good commercial being recur
Slide 4: Update on factoring trends in the first 9M of 2015
Update on factoring trends in the first 9M of 2015 Factoring Turnover Evolution €m €48.1m originated from bank distribution agreements. Access to a network of more +20% than 1,100 bank branches thanks to 14 commercial 876 agreements signed as at today 727 482 9M 2013 9M 2014 9M 2015 Factoring Outsta
Slide 5: Increased contribution from new business lines
Increased contribution from new business lines CQS/CQP outstanding SME State Guaranteed Loans outstanding €m €m Thanks to 3 distribution agreements we purchased more than 3,645 loans in 9M 2015 (~€75m) 73 83 60 65 40 27 19 13 31.12.2014 31.03.2015 30.06.2015 30.09.2015 31.12.2014 31.03.2015 30.06.20
Slide 6: 9M 2015 – Income Statement
9M 2015 – Income Statement* Income Statement - €/000 9M 2015 9M 2014 Change NII increase (+21%) driven by Net Interest income 42,994 35,680 20.5% higher factoring volumes, lower Net commission income 8,308 8,608 -3.5% cost of funding and higher Dividends 33 33 nm contribution from CQS/CQP and Tradin
Slide 7: 9M 2015 – Balance Sheet
9M 2015 – Balance Sheet Balance Sheet - €/000 30/09/2015 31/12/2014 Change Stable Govies AFS portfolio Financial assets 922,230 858,070 7.5% with an average duration of 7.3 Due from banks 9,372 16,682 -43.8% months (9.3 as at 30.06.2015) Customer loans 1,337,314 1,193,754 12.0% Factoring 866,513 851
Slide 8: Strong revenues supporting earnings growth
Strong revenues supporting earnings growth Total income Net interest income, represented 80% of the Total €m Income, up +21% y/y +10% 53.8 Total Income increased from €48.8m in 9M 2014 to 48.8 €53.8m in 9M 2015 due to: lower interest expenses (Retail funding cost is 80bps lower y/y, from 320bps in 9
Slide 9: Efficiency and saving enabled by our business Model
Efficiency and saving enabled by our business Model Administrative Expenses, Operating Costs1 Personnel Expenses1 Servicing Costs, D&A 1 €m FTEs (#) 112 136 +2% 23.1 23.6 14.1 13.9 9.0 9.7 9.0 8.9 D&A €0.2m 5.0 4.8 9M 2014 9M 2015 9M 2014 9M 2015 9M12014 9M22015 Operating Costs Personnel Expenses Se
Slide 10: Funding Overview
Funding Overview Funding Breakdown Customer Deposits Evolution • Funding strategy €m focused on diversifying Customer financing sources and Deposits 881 843 optimizing cost of funds 41% 719 Wholesale 535 312 308 Funding 185 • Wholesale funding is 12 59% composed today 523 534 569 535 primarily by Re
Slide 11: Conservative provisioning policy
Conservative provisioning policy Gross Doubtful Loans €m • NPL ratio is around 1.5% as at 30.09.2015 97.1 • The increase of Doubtful loans is mainly driven by the increase of Past-due loans, following a new, more conservative classification of factoring receivables 54.9 42.2 71.7 • Loan loss provisi
Slide 12: Conclusions
Conclusions We continue to see consistent growth across the Bank thanks to new opportunities in all our business segments. We have built a stable and diversified funding base, focussed on optimising our cost of funds, in line with our financing need. We continue to demonstrate that our platform is e
Slide 13: Carlo Di Pierro, Head of Investor Relations
Carlo Di Pierro Head of Investor Relations carlo.dipierro@bancasistema.it +39 02 80280358 +39 3355288794 bancasistema.it