Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — Q1 2005 Earnings Presentation
18 slides from Credito Emiliano's earnings presentation, May 2005
Slide 1: CREDEM Group IQ '05 results
CREDEM CREDEM Group IQ ’05 results may 2005 Investor Relations – risultati IQ05 - update 1
Slide 2: The CREDEM Group today
CREDEM The CREDEM Group today Italy's 14th largest banking group Italy's 12th largest asset manager 700,000 customers and over €64 Total Business with customers billion in total business Loans About 500 branches and business AUC 19% centres; 5,000 employees 36% Direct deposits 19 companies operating
Slide 3: IQ '05 Results Appendices
CREDEM IQ ‘05 Results Appendices Investor Relations – risultati IQ05 - update 3
Slide 4: Key figures: profitability improves, cost under control
Profitabilility improves CREDEM Key figures Cost under control +7.9% adj. Operating costs Total Income +3.6% adj. 224.5 +6.8% 137.4 139.8 +1.7% 210.3 150 250 57.7 58.8 +1.9% +5.6% 200 136.1 128.9 100 150 +8.6% +1.6% 100 79.7 81.0 81.4 88.4 50 50 0 0 IQ04 IQ05 IQ04 IQ05 Net interest income Non-intere
Slide 5: Key figures
CREDEM Key figures Total customer business 6,6% Total direct loans Funding from customers (ne t of re pos) (e xc luding re pos a nd insit ut iona l c ust ome rs) +7.5% +5.0% 51.9 12.0 11.5 48.3 15 0.7 0.6 -6.7% 70 +9.1% 10 47 21.7 23.6 10.8 11.4 +5.7% +7.2% 15.1 16.1 5 23 11.6 12.1 +4.7% 0 0 IQ04 IQ
Slide 6: Key indicators
CREDEM Key indicators Good balance between growth, asset quality and capital adequacy 2003 2004 IQ05 Market share funding 1.54% 1.53%**1,53% growth Market share loans 1.00% 0.98%**0,98% ** = da ta a s o f dic e m bre 2004 ROE 11.1% 14.2% n.s. profitability Net interest income / total income Non-inte
Slide 7: Revenues up by 7.9%
Revenues up by 7,9% Spread CREDEM Total income and net interest income growing (mn €) 2004 IQ04 IQ05 % yoy Net interest income 323.8 81.4 88.4 8.6% Commercial spread 2.73% 2.69% 2.93% +20 bps Net fee and commission income 376.2 92.9 93.7 0.9% Net interest income improved by 8.6% . Of which "manageme
Slide 8: From total income to net profit
CREDEM From total income to net profit (mn €) 2004 IQ04 IQ05 % yoy Total income 832.3 210.3 224.5 6.8% Gross Operating Profit +16% Payroll -324.9 -79.7 -81.0 1.6% Administrative expenses -222.8 -57.7 -58.8 1.9% Net operating profit +27% Operating costs -547.7 -137.4 -139.8 1.7% Ope rating c o s ts a
Slide 9: Income generation
CREDEM Income generation Data adjusted for Banca del Garda sale % contribution (mn €) 2004 IQ04 IQ05 al IQ05 MIN 823.8 208.1 224.5 . Captive 740.8 183.6 193.8 86.3% . Non captive 83.0 24.5 30.7 13.7% COP -540.7 -134.9 -139.8 . Captive -476.8 -118.0 -123.3 88.2% . Non captive -63.9 -16.9 -16.5 11.8%
Slide 10: Distribution network and HR
CREDEM Distribution network and HR No. Of Credem Group branches and market share Distribution structure 2003 2004 IQ05 Credembanca and other * 440 441 431 1 B.ca Euromobiliare 22 22 22 64 0.1 % Bank branches 462 463 453 15 13 1.1 % 0.4 % 0.5% Business centres 38 39 38 128 5 4.0 % CredemPoints 27 24
Slide 11: Deposit and AUM
Deposit and AUM CREDEM Funding and inflows looking good (mn €) Data adjusted for Banca del Garda sale Breakdown of customer funding 2004 IQ04 IQ05 % yoy Deposits 7,795 7,135 8,070 13.1% Bonds 3,984 4,417 4,023 -8.9% Tot. Direct (excuding repos) 11,779 11,552 12,093 4.7% Portfolio management 3,245 2,
Slide 12: Loans: confirmation of growing trend on core segment
CREDEM Loans Confirmation of growing trend on “core segment” Data adjusted for Banca del Garda sale (mn €) 2004 IQ04 IQ05 % yoy Customers loans 11,403 10,779 11,398 5.7% Repos 92 248 71 -71.4% Total cash loans 11,495 11,027 11,469 4.0% Endorsement credits 612 661 617 -6.7% Loans up by 5.7% (+6.6% in
Slide 13: Loans
CREDEM Loans Loan growth is developing according to plan: •on a selective basis to Corporate Gross customers loans (mn €) Data adjusted for Banca del Garda sale Customers, in light of the goal of boosting Breakdown by business unit % yoy mid-corporate and SME assets and 2003 2004 IQ053/05-12/03 redu
Slide 14: Other risks
CREDEM Other risks Market risk (€/mn) 2003 2004 IQ05 V.A.R. banking e trading book (99% . 10 days) Credembanca . Average 2.8 1.7 1.7 Market risk management mostly pertains to . Maximum 4.8 3.7 2.1 Credembanca and Abaxbank. Abaxbank . Average 2.3 1.1 1.1 Overall risks are modest and fairly stable . M
Slide 15: IQ '05 Results Appendices
CREDEM IQ ‘05 Results Appendices Investor Relations – risultati IQ05 - update 15
Slide 16: Capital structure
CREDEM Capital structure Agreement More than between 226 2,900 shareholders investors Main investors %sul c.s. Maramotti family 35.5% Pictet Cie 4.9% Savioli heirs 2.9% Finc orrad 2.1% Allianz Subalpina 1.7% 72.4% 27.6% CREDEMHOLDING 73.0% 27.0% CREDEM Investor Relations – risultati IQ05 - update 16
Slide 17: Credem stock
CREDEM Credem stock 1997 1998 1999 2000 2001 2002 2003 2004 No. Shares (/000) 225,839 253,408 265,464 270,679 272,537 273,309 274,350 275,417 Net equity per share 2.07 2.34 2.27 2.55 2.86 3.08 3.23 3.46 Earnings per share 0.22 0.26 0.17 0.51 0.39 0.40 0.35 0.47 ROE 11.6% 13.5% 8.5% 21.3% 14.6% 13.5%
Slide 18: Structure and businesses
CREDEM Structure and businesses CREDEM Commercial Banking Wealth Management Investment Banking Other 100% 98.5% 50% * 99.8% 100% Life insurance 100% 100% 50% * 59.5% 100% FIDUCIARIA Spa Insurance 100% * na 100% * 100% 100% 100% 100% 100% * non-consolidated Investor Relations – risultati IQ05 - updat
Credito Emiliano S.p.A. (CREDEM) — Q1 2005 Earnings Presentation on 6ix