Credito Emiliano S.p.a. · MIL:CE

Credito Emiliano — Q3 2005 Earnings Presentation

17 slides from Credito Emiliano's earnings presentation, November 2005

  1. Slide 1: CREDEM Group 3Q05 Results

    CREDEM CREDEM Group September ’05 IAS/IFRS Compliant November 2005 Investor Relations –3Q05 Results 1

  2. 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 about 67 billion in total business Total Business Around 500 branches and business Loans centres with 5,000 employees 19% AUC 36% 19 companies operating in all areas of finance

  3. Slide 3: Results

    CREDEM Results Attachments Investor Relations –3Q05 Results 3

  4. Slide 4: Key figures: profitability continues to improve

    Profitability continues to CREDEM Key figures improve Total Income Operating Costs 696.3 +14.8% 430.5 +5.3% 606.4 408.8 800 500 152.3 156.9 600 +18.9% +3.0% 434.7 365.5 250 256.5 273.6 400 +8.6% +6.7% 200 240.9 261.6 0 09/04 09/05 0 09/04 09/05 Payroll Administrative expenses Interest income Non int

  5. Slide 5: Key figures: total customer business

    CREDEM Key figures Total Customer Business 9.7% Total direct loans Funding fr customers ( net of Pct ) (excluding " Repo s" and " Institutio nals" ) +6.0% +10.6% 12.4 54.1 11.7 48.9 60 +10.9% 15 -10.1% 0.8 0.7 24.4 22.0 10 40 +13.3% +7.1% 10.9 11.7 15.6 17.6 +6.3% 5 20 11.3 12.0 0 0 09/04 09/05 09/0

  6. Slide 6: Key indicators: balance between growth, asset quality and equity

    Good balance between growth, CREDEM Key indicators asset quality and equity. Major recovery in efficiency 2004 09/05 Mkt shares funding 1.5% growth Mkt share loans 1.0% 1,5% (a) 1,0% (a) (a) = figures at June 2005 ROE 14.2% 14,8% (b) profitability Net interest income/ Total income 38.8% 37.6% Non in

  7. Slide 7: Total income: revenues up 14.8%

    CREDEM Total income Revenues up +14.8% (€ mn) 2004 09/04 09/05 % yoy Net interest income 317.9 240.9 261.6 8.6% Commercial spread 2.73% 2.70% 2.91% +21 bps Net commissions 373.7 274.3 302.0 10.1% . Of which: "management & broker 253.5 188.0 210.1 11.8% . Of which "banking services" 120.2 86.3 91.9 6

  8. Slide 8: From total income to net profit

    CREDEM From total income to net profit Net profit +48.7% EBITDA + 34.5% (mln €) 2004 09/04 09/05 % yoy EBIT + 43.3% Total income 819.6 606.4 696.3 14.8% Personnel expenses -326.6 -256.5 -273.6 6.7% Costs “managed” with flexibility and in line with the Administrative expenses -219.5 -152.3 -156.9 3.0

  9. Slide 9: Income generation

    CREDEM Income generation Breakdown of EBITDA contribution (€/mn) 09/04 09/05 at 09/05 Total Income 606.4 696.3 . Captive 547.1 605.5 87.0% . Non captive 59.3 90.8 13.0% Operating costs -408.8 -430.5 . Captive -361.5 -379.5 88.2% . Non captive -47.3 -51.0 11.8% The diversification of the Group’s acti

  10. Slide 10: Distribution and resources

    CREDEM Distribution and resources No. Of CREDEM Group branches and market share Distribution network 2003 2004 09/05 Credembanca and others 440 441 433 1 B.ca Euromobiliare 22 22 22 64 0.1 % Bank branches 462 463 455 16 15 1.1 % . Of which B.ca Garda 10 -10 0.4 % 0.5% 128 Business centres 38 39 40 5

  11. Slide 11: Funding and asset management

    Positive trend in deposits CREDEM Funding and asset management (mn €) Breakdown of customer funding 2004 09/04 09/05 % yoy Deposits 7,564 7,076 8,189 15.7% Bonds 4,228 4,236 3,839 -9.4% Direct customer funding (net R 11,792 11,312 12,028 6.3% Portfolio management 3,245 3,003 4,727 57.4% Mutual funds

  12. Slide 12: Loans: growth in core business confirmed

    CREDEM Loans Growth in core business confirmed (mn €) 2004 09/04 09/05 % yoy Loans to customers 11,449 10,939 11,716 7.1% Repos 92 248 227 -8.5% Total cash loans 11,541 11,187 11,943 6.8% Guarantees 612 765 688 -10.1% Total direct loans 12,153 11,952 12,631 5.7% Cash loans have increased overall by

  13. Slide 13: Other Risks

    CREDEM Other Risks Market risks (€ mn) 2003 2004 09/05 V.A.R. banking and trading book (99%. 10 days) Credembanca . average 2.8 1.7 1.6 Control of market risks primarily involves . maximum 4.8 3.7 2.4 Credembanca and Abaxbank. Abaxbank . average 2.3 1.1 1.1 . maximum 3.9 2.0 2.5 On the whole, risks

  14. Slide 14: Attachments

    CREDEM Results Attachments Investor Relations –3Q05 Results 14

  15. Slide 15: Capital structure

    CREDEM Capital structure Agreement More than 2,900 between 226 shareolders shareolders Principali azionisti %sul c.s. Famiglia Maramotti 35,5% Pictet Cie 4,9% Eredi Savioli 2,9% Fincorrad 2,1% Allianz Subalpina 1,7% 72.6% 27.4% CREDEMHOLDING 72.6% 27.4% CREDEM Investor Relations –3Q05 Results 15

  16. Slide 16: 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%

  17. Slide 17: Structure & Businesses

    CREDEM Structure & Businesses CREDEM Commercial Banking Wealth Management Investment Banking Other 100% 98.5% 50% * 100% 100% Life insurance 100% 100% 50% * 59.5% 100% FIDUCIARIA Spa Insurance 100% * na 100% * 100% 100% 100% 100% 100% * Not consolidated Investor Relations –3Q05 Results 17

Credito Emiliano S.p.A. (Credem Group) — Q3 2005 Earnings Presentation on 6ix