Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — H1 2011 Earnings Presentation
15 slides from Credito Emiliano's earnings presentation, Aug 30, 2011
Slide 1: Group Results – 1H2011 Conference Call
Group Results – 1H2011 Conference Call Adolfo Bizzocchi 30 August 2011
Slide 2: 2Q11 Highlights
2Q11 Highlights Banking Margin’s remarkable improvement (+6.1% qoq) sustained by the positive performance of: Net Interest Income (+5.4% qoq) Net Commission Income (+6.8% qoq), even though retail bond issues increased furtherly in the quarter Operating Costs’ decrease (-1.2% qoq) also includes a non
Slide 3: Income Statements
Income Statements Euro, million 1Q11 2Q11 % qoq 2Q11 Nor.* 1H10 1H11 % yoy Operating Income 236.0 250.4 6.1 253.2 461.0 486.4 5.5 Operating Costs -165.0 -163.1 -1.2 -163.1 -320.5 -328.1 2.4 Gross Operating Profit 71.0 87.3 23.0 90.1 140.5 158.3 12.7 Depreciation and Amortization -7.2 -7.4 2.8 -7.4 -
Slide 4: Revenues and Costs
Revenues and Costs Operating Income Remarkable increase of Interest Margin (+5.4% €Mil. qoq; +7.0% qoq net of the fiscal settlement 250.4 impacting for €1.9 million) and Non Interest Margin 270 236.0 1.9 * 600 486.4 (+6.9% qoq) 240 461.0 1,9 * 210 118.1 450 Interest Margin benefitted by an increase
Slide 5: Loans
Loans Loans +9.6% € Mil. 18,884 19,555 19,543 17,833 17,782 18,000 3,323 3,425 3,532 3,091 3,239 15,000 5,845 5,932 6,095 12,000 5,615 5,687 9,000 1,935 1,940 1,944 1,931 1,911 6,000 7,196 6,944 7,781 8,258 7,972 3,000 - 1H10 9M10 FY10 1Q11 1H11 ST Loans Leasing Residential Mortgages Other LT Loans
Slide 6: Spreads and Loans Quality
Spreads and Loans Quality Corporate customers credit standing (Credem SpA management accounting) Volumes mix change did not penalized the 75.4% overall loan quality portfolio that furtherly 80.0% 73.3% 74.2% 67.5% improved in the 2Q11. Average loan’s rate and 60.0% spreads increased in the quarter a
Slide 7: Deposits and Bonds
Deposits and Bonds Euro, million 2007 2008 2009 2010 1Q11 1H11 Bonds stock furtherly increased in Sight Deposits 9,520 10,444 11,443 11,604 12,062 11,131 2Q11. New bonds’ issues in the 1H11 Time Deposits 1,785 3,275 2,637 1,064 805 737 were higher than total 2011 maturities. This proves the placemen
Slide 8: AUM
AUM Euro, million 2008 2009 2010 1Q11 2Q11 AUM is substantially stable qoq, despite the Insurance increase of retail bonds issued to clientele. 1,794 2,312 2,448 2,456 2,433 Reserves On the current asset mix, riskier products Portfolio 3,519 4,301 4,978 4,816 4,640 impact less than the industry aver
Slide 9: Non Interest Margin
Non Interest Margin Non Interest Margin evolution 124.6 159.4 123.9 132.3 70 59.5 57.1 60 53.5 52.1 50 43.7 Euro, Million 42.3 37.8 37.9 39.0 40 30 17.8 20 14.1 14.2 13.7 9.1 12.2 9.8 12.7 10 6.4 5.6 1.7 0 3Q10 4Q10 1Q11 2Q11 Mngmt & Brokerage Fees Banking Fees Insurance Fees Trading Other 2Q11 show
Slide 10: Credit Quality (1/2)
Credit Quality (1/2) Gross Impaired Loans breakdown 600 480.3 496.2 500 459.1 1H10 400.1 424.6 9M10 € Mil. 400 276.6 261.9 260.5 261.3 267.2 FY10 300 1Q11 200 99.6 96.9 102.5 85.8 77.7 1H11 100 0 Gross NPLs Gross Watchlist/Restructured Loans Gross Past Due % on Loans (Credem) 2.2 2.3 2.4 2.4 2.5 1.5
Slide 11: Credit Quality (2/2)
Credit Quality (2/2) NPLs Ratio: comparison with the Industry The high credit quality, versus the industry, is Net NPLs ratio Gross NPLs ratio confirmed also in 2Q11: net NPLs ratio at Data as at Apr 2011 Data as at Apr 2011 industry level is more than two times higher 3% than the Credem one, while
Slide 12: Assets and Liabilities (1/2)
Assets and Liabilities (1/2) Assets (€, million) Main aggregates on the assets 20,000 19,555 19,543 side are stable qoq. On FY10 figures, the only one showing a 15,000 sizeable growth is Loans to Customers 1Q11 10,000 Financial Assets Available for 1H11 6,706 6,768 Sale is mostly composed by 5,000 I
Slide 13: Assets and Liabilities (2/2)
Assets and Liabilities (2/2) Italian Government Bonds in portfolio Within the Financial Assets Available for € Amount Maturity Sale aggregate, the majority of Italian BTP 672,000,000 4/15/2012 BTPs in portfolio have a duration lower than 1 year (11 months). The first BTP 1,232,000,000 7/1/2012 tranc
Slide 14: Capital Ratios
Capital Ratios Quarterly evolution 2,500.0 11.5% 11.2% 11.6% 11.3% 11.5% 11.6% 2,000.0 8.4% 8.5% 8.8% 8.6% 8.9% 8.8% EURm 1,500.0 1,939.7 1,941.7 1,914.7 1,880.8 1,890.9 1,891.0 1,000.0 1,456.4 1,454.8 1,468.8 1,438.1 1,430.0 1,418.7 594.9 542.0 591.2 546.6 577.8 598.2 500.0 - 1Q10 1H10 9M10 2010 1Q
Slide 15: Disclaimer and Contacts
Disclaimer and Contacts Pursuant to Article 154-bis, section 2 of the “Consolidated Law on Financial Intermediation” dated Feb 24, 1998, the Financial Manager Paolo Tommasini, declares that the accounting information contained in this document correspond to documentary records, ledgers and accountin
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