Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — H1 2025 Earnings Presentation
25 slides from Credito Emiliano's earnings presentation, 2025
Slide 1: Group Results 1H25
yr S= GROUP RESULTS 1H25
Slide 2: 1H25: Highlights
1H25: HIGHLIGHTS €371.8 MLN €278.1 15.4% MLN 13.6% PROFITABILITY NET Norm* Ann. norm.* Ann. norm.* PROFIT NET ROTE ROE PROFIT Gross NPL Ratio Net NPL 2.5% Ratio 2.3% 1H25 0.7% 1.6% ASSET QUALITY 15.83% CET1 7.42% Ratio 8.41% CAPITAL SOUNDNESS *Normalised figure is net of €93.7m (net of tax effect) f
Slide 3: 1H25: Highlights
1H25: HIGHLIGHTS +4.3% VOLUMES +2.6% +1.0% YoY +0.5% YoY YoY YoY Loans Direct funding +€1.5 1H25 BN PRODUCTION Customer funding Net inflows excluding corporate ~1.6 MLN +6% VS 1H24 CUSTOMERS Total customers Loans and funding: ABI Monthly Outlook July 2025 Credem Group net inflows include AUM, AUC, d
Slide 4: Business Diversification
BUSINESS DIVERSIFICATION Operating Income 525.3 504.4 480.0 522.7 475.4 461.6 Core Operating Income** 480.6 471.9 468.2 480.6 433.9 442.2 €/million 2.1% 1.8% 0.3% 3.9% 1.9% 6.2% 4.4% 4.6% 0.4% 7.0% 3.9% 1.9% 56% 58% 52% 49% 52% 54% 37% 37% 40% 40% 42% 44% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Core NIM on Op
Slide 5: Contribution to Consolidated Net Profit
CONTRIBUTION TO CONSOLIDATED NET PROFIT Commercial banking Credem Banca €170.5 mln Private Banking Credem Euromobiliare €22.8 mln Private Banking Extended Banking Services, Consumer Credit & Technology Credem Factor Avvera Credemtel €43.4 mln Credem Leasing MGT Wealth Management Euromobiliare SGR €5
Slide 6: Reclassified Income Statement
RECLASSIFIED INCOME STATEMENT ∆ vs €/million 1Q25 2Q25 Δvs 1Q25 1H24 1H25 1H24 • NII up 2.5% vs 1Q25 despite the reduction of interest Net Interest Income 234.2 240.1 2.5% 570.2 474.4 -16.8% rates. Excellent dynamics also of the commission Non Interest Margin 241.1 221.5 -8.1% 459.4 462.7 0.7% compo
Slide 7: Net Interest Income
NET INTEREST INCOME Net Interest Income 2Q25 vs 1Q25 Euribor and spread BTP/Bund 2.3 240.1 3.5 148 139 138 6.0% 234.2 0.7 126 -0.6 111 5.0% 104 4.0% 3.92% 3.81% 3.0% 3.56% 3.00% 2.56% 2.0% 2.11% 1.0% 0.0% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 1Q25 Rate effect on Effect of Change Other non- Days Effect 2Q25
Slide 8: Customer Spread
CUSTOMER SPREAD During 2Q25, the Group showed stability in the customer spread, that stood at 2.87 bps for the second quarter in a row showing a better trend than that of the Industry, which declined by -8 bps vs 1Q25 The drop in the average cost of funding from customers of the Group (-19bps) offse
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 4.1 4.0 4.0 3.8 Ita Govies 1H25 HTC 4.1 HTCS 0.1 32% 33% 33% 37% FVTPL 0.0 40% 42% Total 4.1 4% 4% 4% 6% 1Q24 1H24 9M24 FY24 1Q25 1H25 4% 4% 25% 24% 25% • T
Slide 10: Non Interest Margin
NON INTEREST MARGIN Total* (€/mln) 239.7 219.7 202.6 250.8 241.1 221.5 Performance Fees 20.7 9.4 32.3 8.4 1.3 10.0 9.8 33.1 18.2 23.0 23.0 1.8 Income from Financial 51.7 51.3 51.1 52.3 52.7 52.8 Activities 23.9 22.1 23.4 20.3 Banking Fees & others 18.4 22.2 Insurance Income 111.4 109.9 109.8 124.2 1
Slide 11: Operating Costs and D&A
OPERATING COSTS AND D&A Operating costs (€/mln) Employees 6,734 221 223 202 257 235 228 6,608 6,616 6,628 6,614 6,140 6,195 6,201 6,219 6,068 5,899 80 70 73 76 79 67 177 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1H25 152 150 135 158 148 Financial Advisors 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Payrol
Slide 12: Loans to Customers
LOANS TO CUSTOMERS Loans to customers (€/bn) Other Loans 9.6 9.4 9.2 9.5 9.6 9.3 Residential Mortgage 10.7 10.8 11.1 11.3 11.4 New 10.6 Leasing disbursement 3.3 3.3 3.3 3.4 3.4 3.4 Consumer Finance 3.7 3.9 to Corporates 3.3 3.5 3.6 3.8 Short-Term Loans 7.7 8.1 7.6 8.8 7.8 8.5 + 26% YoY 1Q24 1H24 9M2
Slide 13: Group Customers Funding: Net Inflows Breakdown
GROUP CUSTOMERS FUNDING: NET INFLOWS BREAKDOWN AUC Direct Deposits AUM + Insurance TotalTotal Net Net Inflows Inflows Total NetNet Total Inflows Inflowsnet netof ofCorporate Corporate 2,826 2,680 2,686 2,693 2,819 2,664 2,324 2,600 1,753 1,635 1,421 1,456 1,093 893 977 1,485 Direct 723 568 deposit 2
Slide 14: Deposits, AUM and Insurance
DEPOSITS, AUM AND INSURANCE Total customer funding Direct deposits & retail bonds** €/mln 1H24 FY24 1H25 +2.6% YoY Sight / Saving Depo. 37,109 38,794 38,639 Industry Credem +171% Retail Bonds & Other Deposits* 1,154 455 615 Total Direct Funding 38,263 39,249 39,255 Insurance Reserves 8,801 9,396 9,9
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% 2.8% Disposal FY23 ~40 mn ~49 mn Disposal 2.3% Gross non-performing FY24 ~56 mn 359 363 340 1.6% loans remained low at 605 298 267 1H25 222 million, also as a result of disposals amount
Slide 16: NPL: Coverage
NPL: COVERAGE NPL (€/mln) Gross Net Coverage Coverage ratio Bad Loans 221.9 38.6 82.6% UTP Loans 340.3 191.6 43.7% Past Due 42.9 25.4 40.9% 57.8% Total NPL 605.2 255.6 57.8% 47.2% 45.6% 39.6% + Net NPL +255.6 - (Shortfall + Addendum + Calendar) +3.6 Credem ITA** EU** EU NPL Net of Shortfall +259.2 d
Slide 17: Bonds Issuances and Maturities
BONDS ISSUANCES AND MATURITIES Recent issues (€/mln) Maturities (€/mln) 0 100 200 300 400 500 600 €/mln May-25 T2 Retail 500+ 750+ 24 25 Istituzionale Covered Bond 500 Jan-24 Covered Bond 100 Sep-23 Social SP Social Jul-23 Social SP Retail Green Call Date Call Date 2023 Jul-23 Social SP Retail Senio
Slide 18: Liquidity
LIQUIDITY NSFR LCR 167% 168% 136% 134% 162% 132% FY23 FY24 1H25E FY23 FY24 1H25 Loan to Deposit Ratio* 0.96 0.92 0.94 • 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 1H25 *
Slide 19: Consolidated Capital Ratios
CONSOLIDATED CAPITAL RATIOS Fully phased figures Fully phased figures Credem Group Credemholding €, million FY24 1H25 FY24 1H25 CET 1 3,660 3,833 3,391 3,574 Total Capital 4,093 4,275 3,979 4,174 Capital absorption from: 1,748 1,807 1,746 1,806 Credit and Counterparty 1,532 1,546 1,530 1,546 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 1H25 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology Net Interest Income 354.6 33.5 74.7 462.9 6.8 3.7 10
Slide 22: Volumes Reclassified by Business Line
VOLUMES RECLASSIFIED BY BY BUSINESS LINE Extended Banking Commercial Private Asset Wealth Consolidation 1H25 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology CUSTOMER LOANS 35,248.0 762.8 8,147.6 44,158.4 26.5 26.5 -7,497.8 36,68
Slide 23: Assets & Liabilities
ASSETS & LIABILITIES Assets (€/mln) 36,687 36,364 1Q25 1H25 10,474 10,047 7,386 6,822 4,349 4,139 3,219 2,533 110 119 Fin. Assets through Fin. Assets HTCS Fin. Assets HTC Fin. Assets (insurance Due from banks Loans to customers P&L companies) Liabilities (€/mln) 39,010 39,005 Wholesale Retail 1Q25 1
Slide 24: Liquidity Reserves
LIQUIDITY RESERVES Liquidity Reserves (€/bn) • The total value of the Group's Liquidity Reserves stood at €17.5 billion, equal to 17.5 27% of Total Assets Total 17.4 • The value of Cash and deposits with Central Banks decreased to €1.8 billion Other ECB eligible 6.2 unencumbered assets 6.2 • 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) — H1 2025 Earnings Presentation on 6ix