Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — 9M 2012 Earnings Presentation
20 slides from Credito Emiliano's earnings presentation, 2012
Slide 1: Group Results – 9M2012
Group Results —- 9M2012
Slide 2: Executive Summary
Executive Summary Net Interest Income was almost stable QoQ (-0,8%), close to the peak since the beginning of 2011 notwithstanding a further interest rates reduction Non Interest Income was strongly up QoQ (+16.4%), achieving the highest quarterly performance since the beginning of 2011. The aggrega
Slide 3: Income Statements
Income Statements Euro, million 1Q12 2Q12 3Q12 % vs. 1Q12 % vs. 2Q12 9M11 9M12 % yoy Operating Income 238.7 227.3 244.1 2.3 7.4 709.9 710.1 0.0 Operating Income (net of trading) 219.5 223.6 225.5 2.7 0.8 663.1 668.6 0.8 Operating Costs -154.1 -148.7 -147.0 -4.6 -1.1 -455.4 -449.8 -1.2 Gross Operatin
Slide 4: Net Interest Income (1/3)
Net Interest Income (1/3) Net Interest Income (€ mln) Net Interest Income remained almost stable (- 120 0.8% QoQ), closed to the peak since the beginning of 2011 110 On the other hand, customers’ spread remained under pressure, with interest rates at an 118,1 118,5 118,8 117,8 historical low, now al
Slide 5: Net Interest Income (2/3)
Net Interest Income (2/3) Repricing on loans (Credem SpA management accounting) 3,61% 3,74% 3,76% 4,0% 3,42% 3,55% 3,43% 3,24% 3,5% 3,0% 2,5% 203 bps 222 bps 214 2,0% bps 305 bps 1,5% 1,0% 1,42% 1,58% 1,52% 0,5% 1,10% 1,08% 0,71% 0,38% 0,0% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 Average loan rate Euribo
Slide 6: Net Interest Income (3/3)
Net Interest Income (3/3) Italian BTP portfolio (Banking Group) € mln 5,000 4,391 4,391 -34% 4,000 3,373 2,895 -14% 3,000 2,501 2,000 1,000 - 2010 2011 1H12 9M12 nov-12 Net Interest Income performance should be considered good, especially considering that interest rates went further down and given t
Slide 7: Non Interest Income
Non Interest Income Non Interest Income: quarterly evolution Non Interest Income: yoy comparison Asset Management Fees Insurance Fees Banking Fees Other Trading 140 300 280.3 279.5 122.4 124.4 123.6 126.3 120 114.4 108.5 18.6 14.4 20.0 101.4 19.2 3.7 250 12.4 3.8 4.8 3.3 6.1 3.3 100 4.7 10.3 200 Eur
Slide 8: Operating Costs
Operating Costs Operating Costs: quarterly and annual comparison €.mil 200 500 455.4 449.8 154.1 148.7 147.0 150 400 142.2 141.8 48,6 47,6 45,6 300 100 Admin. Expenses 200 Payroll Costs 50 105,5 101,1 101,4 313.2 308.0 100 0 0 1Q12 2Q12 3Q12 9M11 9M12 Commitment on costs’ control 2008 2009 2010 2011
Slide 9: Deposits and Bonds
Deposits and Bonds €, million 2010 2011 1Q12 2Q12 3Q12 Deposits & Bonds came back to growth in Sight Deposits 11,604 12,005 12,196 11,970 12,207 the quarter, driven by a further increase of CD & other Dep. 1,064 493 189 242 245 retail clientele’s assets, while Deposits belonging to corporate custome
Slide 10: Bonds issued and maturities
Bonds issued and maturities Bonds Issued Bonds Maturities (up to 2015) 2,500 Retail 2,000 2,000 1,500 1,500 1,407 1,000 1,000 784 1,648 500 600 500 523 740 312 - - 210 149 2010 Issued 2011 Issued 9M12 Issued 2012 2013 2014 2015 Institutional Retail Maturities Maturities Maturities Maturities During
Slide 11: Loans
Loans Loans to customers* since 2009 €,mil 19,721 18,770 19,554 19,250 20,000 16,721 17,536 3,323 3,324 3,459 3,411 16,000 2,782 2,577 5,534 5,845 6,282 6,257 6,248 12,000 5,503 8,000 1,941 1,935 2,001 2,020 2,039 1,936 4,000 6,500 7,484 7,781 8,114 7,818 7,552 - 9M09 FY09 FY10 FY11 1H12 9M12 ST Loa
Slide 12: Credit Quality
Credit Quality Gross Impaired Loans breakdown 700 567.1 587.6 600 527.0 549.2 9M11 513.1 500 Milioni di Euro FY11 370.3 400 329.5 305.9 305.3 1Q12 286 300 1H12 200 157.7 141.7 143.5 81.6 98.2 9M12 100 0 Gross NPLs Gross Watchlist/Restructured Loans Gross Past Due % on Loans (Credem) 2.6 2.6 2.7 2.8
Slide 13: Cost of Risk
Cost of Risk Cost of Risk (bps) 60 37 35 40 31 31 28 27 45 20 27 27 28 25 20 22 14 0 1Q11 1H11 9M11 2011 1Q12 1H12 9M12 Cost of risk Cost of risk (net of one-off) Cost of risk: historical evolution (bps) High credit quality was confirmed by cost 80 70 Parmalat Crack of risk that remains around 35 bp
Slide 14: Group main points of strengths: historical path
Group main points of strengths: historical path Retail funding cost % of loans to corporate customers in 2,50 top 4 rating classes 2,10 2,00 1,77 80% 1,48 76.8% 1,50 1,25 76.1% 0,96 1,00 75% 73.3% 0,59 0,50 - 70% 67.5% 2010 2011 3Q12 65% Credem: Average deposit rate 2009 2010 2011 9M12 Industry: Ave
Slide 15: Assets & Liabilities
Assets & Liabilities Assets breakdown (Euro, million) The further reduction in 21000 19,851 20,519 BTP portfolio (-€480 million) is revealed by 14000 Assets Available for Trading 1H12 and Assets Available for 9M12 Sale’s decrease 7000 4,245 4,172 A further reduction occurred 2,546 2,600 in October a
Slide 16: Capital ratios
Capital ratios Coefficienti Ratios Patrimoniali 2,500 11.1% 11.6% 12.5% 12.7% 11.3% 2,000 € Million 8.1% 8.6% 8.7% 9.2% 9.4% 1,500 2,058.0 2,075.2 1,941.0 1,940.0 1,880.8 1,532.3 1,509.1 1,438.1 1,457.1 1,000 1,413.4 595.8 740.2 768.5 541.1 546.7 500 0 2009 2010 2011 1H12 9M12 Tier I Capital Tier To
Slide 17: Distribution Network
Distribution Network Number of CREDEM Gruppo branches and 2009 2010 2011 9M12 n° filiali e quota di mercato sportelli branches market share per region Credem Branches 552 544 541 540 B.ca Euromobiliare 4 23 19 19 19 0.4% 9 Branches 1.0% 71 1.1% 28 Total Branches 575 563 560 559 21 0.8% 0.8% Corporat
Slide 18: Shareholders’ base
Shareholders’ base Pact among More than 3,000 other 222 shareholders shareholders Cofimar S.r.l. 29.4% Max Mara Finance S.r.l. 6.4% Others 38.9% 74.7% 25.3% Credemholding Free Float 76.9% 23.1% Source: Internal data 18
Slide 19: A Complete Group
A Complete Group Commercial banking Wealth Management Other 100% 99.0% 100% 100% 100% 50% 100% 100% 100% 100% 100% 100% 19
Slide 20: Disclaimer and Contacts
Disclaimer and Contacts This document has been prepared by Credito Emiliano Spa solely for information purposes and for use in presentations of the Group’s strategies and financials. The information contained herein has not been independently verified. No representation or warranty, express or impli