Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — H1 2026 Earnings Presentation
27 slides from Credito Emiliano's earnings presentation, 2026
Slide 1: Group Results 1H26
yr S= GROUP RESULTS 1H26
Slide 2: 1H26: Highlights
1H26: HIGHLIGHTS €312.9 MLN 15.9% 14.1% PROFITABILITY NET ROTE ROE PROFIT Gross NPL Ratio Net NPL Ratio 2.2% 2.1% 1H26 0.7% 1.5% ASSET QUALITY 16.22% CET1 7.68% Ratio 8.55% CAPITAL SOUNDNESS 2026 P2R 1.25%, lowest among Italian banks in Europe *1H25 Normalized Net Profit equal to €278.1 million, net
Slide 3: 1H26: Highlights
1H26: HIGHLIGHTS +2.1% +3.0% +4.5% +3.6% VOLUMES YoY YoY YoY YoY Loans Direct funding 2.7 1H26 bn PRODUCTION Customer funding >1.7 MLN +5% VS 1H25 CUSTOMERS Total customers Loans and funding: ABI Monthly Outlook April 2026, Private sector and PA Credem Group net inflows include AUM, AUC, direct and
Slide 4: Business Diversification
BUSINESS DIVERSIFICATION Operating Income 475.4 461.6 465.5 481.0 502.9 545.7 Core Operating Income** 433.9 442.2 454.8 466.8 463.0 495.5 €/million 0.3% 0.5% 2.1% 1.3% 4.3% 1.8% 7.0% 3.9% 1.8% 0.8% 6.6% 4.9% 49% 52% 54% 52% 49% 47% 42% 44% 44% 45% 43% 44% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Core NIM on Op
Slide 5: Contribution to Consolidated Net Profit
CONTRIBUTION TO CONSOLIDATED NET PROFIT Commercial banking Credem Banca €169.3 mln Private Banking Credem Euromobiliare €31.0 mln Private Banking Extended Banking Services, Consumer Credit & Technology Credem Factor Avvera Credemtel €45.9 mln Credem Leasing MGT Wealth Management Asset Management €75
Slide 6: Nationwide Value Creation
NATIONWIDE VALUE CREATION NORTH CENTER • Balance between funding sources and loan stock and Clients Clients high incidence of indirect funding: Every area of the 45% Stock Stock 15% national territory (North, Center, and South and Islands) Loans 57% shows an incidence of funding in line with the loa
Slide 7: Reclassified Income Statement
RECLASSIFIED INCOME STATEMENT €/million 1Q26 2Q26 Δvs 1Q25 1H25 1H26 Δvs 1H25 Net Interest Income 244.4 257.1 5.2% 474.4 501.5 5.7% • Strong resilience in Net Interest Income, up 5.2% vs 1Q26 and 5.7% Non Interest Margin 258.6 288.6 11.6% 462.7 547.2 18.3% YoY. Excellent dynamics of the commission c
Slide 8: Net Interest Income
NET INTEREST INCOME Net Interest Income Euribor and spread BTP/Bund 111 6.0% 249 250 244 257 104 234 240 5.0% 83 74 76 69 4.0% 3.0% 2.56% 2.0% 2.11% 2.01% 2.04% 2.05% 2.25% 1.0% 0.0% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3 months Euribor (avg) Spread BTP vs Bund 10 yrs (bps; av
Slide 9: Customer Spread
CUSTOMER SPREAD The Group confirmed its ability to sustain commercial profitability in the second quarter as well, with the customer spread standing at 305 bps, up 8 bps from 1Q26. In detail, since 3Q25 there has been an increase in the average rate on customer loans, which in the last quarter was e
Slide 10: Securities Portfolio
SECURITIES PORTFOLIO Securities portfolio breakdown (€/mln, %) Italian government bond (€/bn) 4.7 5.0 4.8 4.6 11,525 11,171 11,054 11,901 12,441 12,211 4.1 4.1 Ita Govies 2Q26 HTC 3.7 HTCS 0.9 FVTPL 0.0 42% 37% 37% 42% 39% 39% Total 4.6 1Q25 1H25 9M25 FY25 1Q26 1H26 6% 6% 6% 6% 4% 6% 23% 23% • As of
Slide 11: Non Interest Margin
NON INTEREST MARGIN Total* (€/mln) 241.1 221.5 216.2 230.7 258.6 288.6 Performance Fees 23.4 6.5 26.9 8.4 1.3 2.5 10.2 33.4 Income from Financial 33.1 18.2 8.2 4.0 50.2 Activities 50.6 50.0 52.0 51.3 51.1 30.1 Banking Fees & others 26.2 27.1 24.3 20.3 22.1 Insurance Income 121.8 123.4 124.8 135.1 13
Slide 12: Operating Costs and D&A
OPERATING COSTS AND D&A Operating costs (€/mln) Employees 6,731 6,812 235 228 221 251 244 243 6,608 6,616 6,628 6,614 6,140 6,195 6,201 6,219 6,068 78 79 85 76 79 79 173 165 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q26 158 148 141 159 Financial Advisors 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Payrol
Slide 13: Loans to Customers
LOANS TO CUSTOMERS Loans to customers (€/bn) Other Loans 9.5 9.2 9.3 9.1 9.0 9.2 Residential Mortgage 11.4 11.6 Leasing 11.3 11.4 11.4 11.5 3.4 3.4 3.5 3.6 3.5 3.5 Consumer Finance 3.9 4.1 4.2 4.4 3.8 4.0 Short-Term Loans 7.8 8.5 8.0 9.3 8.2 8.9 1Q25 1H25 9M25 2025 1Q26 1H26 Total 35.4 36.7 36.1 37.
Slide 14: Group Customers Funding: Net Inflows Breakdown
GROUP CUSTOMERS FUNDING: NET INFLOWS BREAKDOWN AUC Direct Deposits AUM + Insurance 2,686 1,421 1,456 1,482 1,332 977 723 568 265 266 204 -95 -174 -69 Tot. Net Inflows -435 Net of corporates 1,753 2,826 2,693 2,324 2,733 1H 22 1H 23 1H 24 1H 25 1H 26 Significant net inflows performance, reaching €2.7
Slide 15: Deposits, AUM and Insurance
DEPOSITS, AUM AND INSURANCE Total customer funding Direct deposits & retail bonds** €/mln 1H25 FY25 1H26 +4.5% YoY Sight / Saving Depo. 38,639 40,218 40,499 Industry Credem +183% Retail Bonds & Other Deposits* 615 505 531 Total Direct Funding 39,255 40,722 41,030 Insurance Reserves 9,553 10,518 11,3
Slide 16: 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 FY24 Disposal 2.1% 2.2% 2.4% Disposal ~49 mn ~62 mn Disposal 363 337 345 Gross non-performing FY25 1.5% 267 ~22 mn loans down to 579.2 231 198 1H26 million, also as a result 47 of disposals. 38 37 Gr
Slide 17: NPL: Coverage
NPL: COVERAGE NPL (€/mln) Gross Net Coverage Coverage ratio Bad Loans 197.5 39.7 79.9% UTP Loans 345.1 190.5 44.8% 56.4% Past Due 36.6 22.1 39.5% 45.6% 43.1% 39.4% Total NPL 579.2 252.3 56.4% + Net NPL +252.3 - (Shortfall + Addendum + Calendar) -19.9 Credem ITA** EU** EU NPL Net of Shortfall +232.4
Slide 18: Bonds Issuances and Maturities
BONDS ISSUANCES AND MATURITIES Recent issues (€/mln) Maturities (€/mln) €/mln 0 100 200 300 400 500 600 May-26 Green SP Retail 500+ 24 25 26 Covered 750+ May-25 200 Wholesale 500 Bond 100 Jan-24 Covered Bond Social Sep-23 Social SP Green Call Date Call Date Call Date Jul-23 Social SP Retail Senior 2
Slide 19: Liquidity
LIQUIDITY NSFR LCR 141% 140% 136% 177% 168% 171% FY24 FY25 1H26E FY24 FY25 1H26 Loan to Deposit Ratio* 0.92 0.91 0.90 • Liquidity ratios remained sound and well above minimum capital requirements, enabling the Group to have a greater flexibility in setting future funding strategies. FY24 FY25 1H26 *
Slide 20: Consolidated Capital Ratios
CONSOLIDATED CAPITAL RATIOS Fully phased figures Fully phased figures Credem Group Credemholding €, million FY25 1H26 FY25 1H26 CET 1 4,010 4,163 3,729 3,868 Total Capital 4,437 4,577 4,322 4,450 Capital absorption from: 1,888 1,908 1,885 1,907 Credit and Counterparty 1,602 1,623 1,600 1,621 Market
Slide 21: Sustainable Growth Strategy
SUSTAINABLE GROWTH STRATEGY Asset quality & Capital soundness and Vertical integration of product excellent credit quality factories, particularly in wealth Capital of the loan portfolio. management, to support a 'fee- soundness based' business model and maximize profitability. Operating Leverage &
Slide 22: Annexes
ANNEXES 22
Slide 23: Reclassified Consolidated Income Statement by Business Line
RECLASSIFIED CONSOLIDATED INCOME STATEMENT BY BUSINESS LINE Extended Banking Commercial Private Asset Wealth Consolidation 1H26 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology Net Interest Income 365.9 40.6 83.3 489.8 5.7 3.7 9.
Slide 24: Volumes Reclassified by Business Line
VOLUMES RECLASSIFIED BY BY BUSINESS LINE Extended Banking Commercial Private Asset Wealth Consolidation 1H26 Banking Banking Services, Consumer BANKING Management Insurance Management adjustments Consolidated Credit & Technology CUSTOMER LOANS 35,795.2 917.0 8,756.4 45,468.7 33.1 33.1 -8,043.3 37,45
Slide 25: Reclassified Balance Sheet
RECLASSIFIED BALANCE SHEET Total (€/bn) 68.1 68.4 FY25 1H26 Assets (€/mln) Liabilities (€/mln) Other Assets 2,797 2,611 Equity 4,663 4,723 Hedging Derivatives 179 107 Other Liabilities 2,091 3,146 Fin. Assets (insurance 10,971 companies) 11,783 Hedging Derivatives 482 270 Fin. Assets HTC 6,702 6,770
Slide 26: Liquidity Reserves
LIQUIDITY RESERVES Liquidity Reserves (€/bn) • The total value of the Group's Liquidity Reserves stood at €19.2 billion, equal to 28% of Total Assets. Total 19.2 18.9 • The value of Cash and deposits with Central Banks remained stable at €1.0 billion. Other ECB eligible 5.5 • ECB eligible unencumber
Slide 27: 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 Group) — H1 2026 Earnings Presentation on 6ix