Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — FY2011 Earnings Presentation
15 slides from Credito Emiliano's earnings presentation, Mar 16, 2012
Slide 1: Group Results - FY2011 Conference Call
Group Results - FY2011 Conference Call Adolfo Bizzocchi March 16, 2012
Slide 2: FY 2011 Highlights
FY 2011 Highlights • Net Interest Income grew (+3.3% y/y) as a result of a remarkable increase in lending volumes (+5.9% y/y), compared to the industry (market share went up to 0.98% from 0.93% y/y). Such a trend experienced a slowdown in the last quarter (-3.3% q/q) when the sovereign debt crisis i
Slide 3: Income Statement
Income Statement €, million 1Q11 2Q11 3Q11 4Q11 % q/q 2010 2011 % y/y Operating Income 236.0 250.4 252.9 228.8 -9.5 962.5 968.1 0.6 Operating Costs -165.0 -163.1 -156.7 -162.6 3.8 -643.2 -647.4 0.7 Gross Operating Profit 71.0 87.3 96.2 66.2 -31.2 319.3 320.7 0.4 Depreciation and Amortization -7.2 -7
Slide 4: Net Interest Income
Net Interest Income Operating Income Good Net Interest Income performance in 2011, 1050 €,mil mostly because higher lending volumes 900 +3.3% Non Interest Income decrease y/y was essentially 750 448.4 463.3 driven by the lower contribution coming from 600 Trading and by the absence, in 2011, of 450
Slide 5: Non Interest Income
Non Interest Income Non Interest Income AUM Fees Performance Fees Banking Fees In the quarter, Non Interest Income, net of the Insurance Fees Other Revenues Trading trading component (that is usually volatile 159.4 160 and in 4Q11 was also penalized by the bulk 140 42.3 132.3 134.4 123.9 12.7 114.2
Slide 6: Deposits and Bonds
Deposits and Bonds €, million 2007 2008 2009 2010 1H11 2011 Customers’ deposits (direct deposits + 9,520 10,444 11,443 11,604 11,131 12,005 bonds) grew 6.9%, compared to a loan Sight Deposits growth of 5.9% in year 2011 CD & other Dep. 1,785 3,275 2,637 1,064 737 493 In detail, retail deposits grew
Slide 7: Loans
Loans Loans since 2009 +5.9% €,mil 18,884 19,440 19,995 16,841 17,536 18,000 3,708 3,598 2,577 3,323 15,000 2,788 5,845 6,247 6,282 12,000 5,426 5,534 9,000 1,941 1,935 1,976 2,001 1,910 6,000 6,717 7,484 7,781 7,508 8,114 3,000 - 1H09 FY09 FY10 9M11 FY11 ST Loans Leasing Residential Mortgages Other
Slide 8: Spreads and Loans Quality
Spreads and Loans Quality Corporate customers credit standing Loan’s growth was not accomplished at the (Credem SpA management accounting) expense of corporate clientele’s standing that shows its best performance over the last 2 years. 100% 75.4% 76.6% 76.8% 80% 67.5% 73.3% Repricing actions continu
Slide 9: Operating Costs
Operating Costs Operating Costs: q/q comparison €,mil • 4Q11 posted the best performance of the year, 200 165.0 163.1 162.6 excluding the third quarter that was heavily 156.7 150 impacted by seasonality effects on Payroll 58.4 55.9 57.3 57.7 Costs 100 50 106.6 107.2 99.4 104.9 Other Administrative E
Slide 10: Credit Quality (1/2)
Credit Quality (1/2) Gross Impaired Loans breakdown 600 527.0 496.2 513.1 459.1 480.3 FY10 500 1Q11 400 286 305.9 €,mil 260.5 261.3 267.2 1H11 300 9M11 200 102.5 85.8 81.6 98.2 77.7 FY11 100 0 Gross NPLs Gross Watchlist/Restructured Gross Past Due % on Loans (Credem) 2.4 2.4 2.5 2.6 2.6 1.4 1.3 1.3
Slide 11: Credit Quality (2/2)
Credit Quality (2/2) NPLs Ratio: comparison with the Industry Net NPLs ratio for the industry remains at a Net NPLs ratio Gross NPLs ratio level that is more than two times the Credem one 4% 6% 5.4% 3.14% 5% 4.1% NPLs coverage was 56%, on the rise compared to 3% 2.43% 4% 54.8% in 3Q11. Compared to 2
Slide 12: Assets
Assets Assets breakdown (Euro, million) Main aggregates on the assets 20,000 19,440 19,995 side are stable qoq. On 9M11 figures, the only one showing a sizeable growth is Loans to 15,000 Customers 10,000 9M11 Financial Assets Available for 2011 6,715 6,742 Sale is mostly composed by 5,000 Italian tr
Slide 13: Liabilities
Liabilities Liabilities breakdown (Euro, million) • On the Liabilities side, long term funding increased mostly 20,000 Institutional Customers Equity because of the ECB exposure that reduced the interbank 15,000 12,239 12,541 exposure on the short term 9M11 10,000 2011 5,000 4,954 3500 • ECB funding
Slide 14: Capital ratios
Capital ratios Coefficienti Ratios Patrimoniali 2,500.0 11.1% 11.6% 11.6% 11.3% 2,000.0 8.1% 8.6% 8.9% 8.7% EURm 1,500.0 1,941.0 1,950.2 1,940.0 1,880.8 1,482.4 1,438.1 1,457.1 1,413.4 1,000.0 541.1 546.6 610.0 597.0 500.0 - 2009 2010 9M11 2011 Tier I Capital Tier Total Capital Excess Capital RWA (€
Slide 15: Disclaimer e Contatti
Disclaimer e Contatti Il Dirigente Preposto alla redazione dei documenti contabili societari dichiara ai sensi del comma 2 dell’articolo 154 bis del Testo Unico delle disposizioni in materia di intermediazione finanziaria, che l’informativa contabile contenuta nel presente documento corrisponde alle
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