Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — 9M 2011 Earnings Presentation
18 slides from Credito Emiliano's earnings presentation, 2011
Slide 1: Group Results – 9M2011
Group Results – 9M2011
Slide 2: 3Q11 Highlights
3Q11 Highlights Net Interest Income was slightly up QoQ driven by: a better lending mix with growing SMEs and decreasing Large Corporate volumes, while the total loan portfolio remained fairly stable (- 0.5% QoQ) some repricing actions taken to offset the higher funding cost Net Commission Income we
Slide 3: Income Statements
Income Statements Euro, million 2Q11 3Q11 % QoQ 9M10 9M11 % YoY Operating Income 250.4 252.9 1.0 697.2 739.3 6.0 Operating Costs -163.1 -156.7 -3.9 -484.3 -484.8 0.1 Gross Operating Profit 87.3 96.2 10.2 212.9 254.5 19.5 Depreciation and Amortization -7.4 -8.0 8.1 -21.5 -22.6 5.1 Operating Profit 79
Slide 4: Operating Income
Operating Income Net Interest Income Further improvement of the Net Interest Income 120 €Mil. 118.1 118.5 for the third quarter in a row (+0.3% QoQ; +12.0% 118 vs. 4Q10) 116 114 The growth of the aggregate is driven by: 111.6 112.1 112 Large Corporate lending reduction paired by 110 108 volumes incr
Slide 5: Loans
Loans Loans +9.3% € Mil. 18,884 19,555 19,543 19,440 17,681 17,782 18,000 16,721 3,425 3,532 3,708 3,323 2,847 3,239 15,000 2,782 5,845 5,932 6,095 6,247 12,000 5,276 5,687 5,503 9,000 1,947 1,935 1,940 1,944 1,976 1,936 1,911 6,000 7,548 6,500 6,944 7,781 8,258 7,972 7,508 3,000 - 2008 9M09 9M10 FY
Slide 6: Spreads and Loans Quality
Spreads and Loans Quality Corporate customers credit standing Loans portfolio new mix enhanced a 5 bps (Credem SpA management accounting) customers’ spread increase in 3Q11 (at the 100.0% highest level since the beginning of 2010), while 80.0% 73.3% 74.2% 75.4% 76.6% the evolution of the aggregate i
Slide 7: Deposits and Bonds
Deposits and Bonds Euro, million 2007 2008 2009 2010 1Q11 1H11 9M11 Deposits & Bonds were up Sight Deposits 9,520 10,444 11,443 11,604 12,062 11,131 11,661 (+€528 million), outscoring the 1Q11 performance, even Time Deposits 1,785 3,275 2,637 1,064 805 737 483 though Corporate Deposits Repos 735 2,2
Slide 8: AUM
AUM Euro, million 2007 2008 2009 2010 1Q11 2Q11 3Q11 Insurance Reserves 2,146 1,794 2,312 2,448 2,456 2,433 2,466 Portfolio Management 4,710 3,519 4,301 4,978 4,816 4,640 4,348 Mutual Funds 5,154 3,666 3,910 3,998 3,734 3,618 3,216 SICAVs 3,927 3,214 5,122 4,898 4,975 4,921 4,515 Other & Third Parti
Slide 9: Operating Costs
Operating Costs Operating Costs: quarterly comparison €Mil. Payroll Costs were down QoQ due to the lower 200 163.1 incidence of variable components as well as 156.7 lower provision for early retirement agreements 150 54.4 Other Admin. with employees 55.7 Expenses 100 Other Administrative Expenses ar
Slide 10: Credit Quality (1/2)
Credit Quality (1/2) Gross Impaired Loans breakdown 600 496,2 513,1 459,1 480,3 500 9M10 424,6 FY10 400 286 € Mil. 261,9 260,5 261,3 267,2 1Q11 300 1H11 200 96,9 102,5 85,8 81,6 77,7 9M11 100 0 Gross NPLs Gross Watchlist/Restructured Loans Gross Past Due % on Loans (Credem) 2.3 2.4 2.4 2.5 2,6 1.4 1
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 3Q11: net NPLs ratio at Data as at Aug. 2011 Data as at Aug. 2011 industry level is more than two times higher 3% 2.83% 6% 5.1% than Credem
Slide 12: Assets and Liabilities (1/2)
Assets and Liabilities (1/2) Assets (€, million) Main aggregates on the assets 19,543 19,440 20,000 side are stable/ slightly down QoQ. On FY10 figures, the only 15,000 one showing a sizeable growth is Loans to Customers 1H11 10,000 Financial Assets Available for 9M11 6,768 6,715 Sale is mostly comp
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 (less than 9 months). The BTP 1,232,000,000 7/1/2012 fi
Slide 14: Capital Ratios
Capital Ratios Quarterly evolution 2,500.0 11.5% 11.2% 11.6% 11.3% 11.5% 11.6% 11.6% 2,000.0 8.4% 8.5% 8.8% 8.6% 8.9% 8.8% 8.9% 1,500.0 EURm 1,941.7 1,939.7 1,950.2 1,914.7 1,891.0 1,880.8 1,890.9 1,000.0 1,482.4 1,456.4 1,454.8 1,468.8 1,438.1 1,418.7 1,430.0 594.9 591.2 546.6 577.8 598.1 610.0 542
Slide 15: Distribution Network
Distribution Network Number of branches and 2008 2009 2010 9M11 branches market share per region Credem Branches 563 552 544 542 B.ca Euromobiliare 27 23 19 19 Branches Total Branches 590 575 563 561 Corporate Centres 43 42 42 41 Credem Points 36 33 35 34 B.ca Euromobiliare 22 17 18 18 Fin. Stores C
Slide 16: Shareholders’ base
Shareholders’ base Pact among More than 2,900 other 230 shareholders shareholders Cofimar S.r.l. 20.0% Max Mara Fashion Group S.r.l. 8.1% Max Mara Finance S.r.l. 6.4% Others 39.7% 74.2% 25.8% Credemholding Free Float 76.9% 23.1% Source: Internal data 16
Slide 17: A Complete Group
A Complete Group Commercial banking Wealth Management Other 100% 99.0% 100% 100% 100% 100% 50%* 100% 100% 100% 100% 100% 100% 17
Slide 18: 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
Credito Emiliano S.p.A. (Credem) — 9M 2011 Earnings Presentation on 6ix