Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — Q1 2011 Earnings Presentation
15 slides from Credito Emiliano's earnings presentation, 2011
Slide 1: 1Q 2011 Group Results
1Q 2011 Group Results
Slide 2: Executive Summary
Executive Summary 1Q11 Highlights Very high credit quality pointed out by the strong slowdown in new impaired loans generation and a further reduction in Net Adjustments of Loans (14 bps on an annualized basis) Loan growth continues at a good pace showing an increase both qoq (3.6%) and yoy (12.1%)
Slide 3: Income Statements
Income Statements EURm 1Q10 4Q10 1Q11 % yoy Understandably, Operating Income is lower Operating Income 229.9 265.3 236.0 2.7 then 4Q10’s one, because of non recurrent events, while showing a good increase (+2.7%) Operating Costs -158.9 -158.9 -165.0 3.8 if compared with 1Q10, that certainly represen
Slide 4: Revenues and Costs
Revenues and Costs Operating Income The yoy Operating Income comparison shows a EURm 265.3 300 250 236.0 2.7% increase that is almost evenly distributed 229.9 236.0 between Interest Margin and Non-Interest Margin 200 105.9 112.1 The qoq comparison is not very meanful 109.4 112.1 150 because of non r
Slide 5: Spread and Loan Book
Spread and Loan Book Loan Book evolution +3.6% +7.7% EURm 18,884 19,555 17,536 17,439 17,833 17,782 18,000 2,932 3,035 2,577 2,573 2,725 2,853 15,000 5,845 5,932 12,000 5,534 5,537 5,615 5,687 9,000 1,935 1,940 1,941 1,924 1,931 1,911 6,000 7,484 7,405 7,562 7,331 8,172 8,648 3,000 - 2009 1Q10 1H10
Slide 6: Spread and Loan Book
Spread and Loan Book Corporate customers loans’ credit quality (Credem SpA management accounting) The lack of a general repricing trend on the 80.0% 73.3% 74.2% market, as confirmed by ABI’s figures, still keeps 67.5% spreads down. Credem typically being a 60.0% follower in this process, because of
Slide 7: Deposits & Assets Under Management
Deposits & Assets Under Management Eum 2007 2008 2009 2010 1Q11 Deposits & Repos are up qoq (+ €195 million) Current and mainly thanks to an increase on Current and saving 9,520 10,444 11,443 11,604 12,062 saving accounts aggregate, supported also by accounts the results of marketing efforts on cust
Slide 8: Credit Quality (1/2)
Credit Quality (1/2) Gross Impaired Loans 600 459.1 480.3 500 1Q10 400.1 424.6 371.0 1H10 400 € Mil. 292.7 276.6 261.9 260.5 261.3 9M10 300 2010 200 113.3 99.6 96.9 102.5 85.8 1Q11 100 0 Sofferenze Lorde Incagli/ Ristrutturati Lordi Scaduti Lordi % on Total Loans (Credem) 2.1 2.2 2.3 2.4 2.4 1.6 1.5
Slide 9: Credit Quality (2/2)
Credit Quality (2/2) Net Impaired Loans Remarkable improvement of the credit quality 3.5 since the start of the financial crisis: 2.93 2.83 2.84 3.0 2.66 2.77 Net Impaired Loans on Net Total Loans are % on Net Total Loans 2.66 0.63 0.54 0.53 2.5 0.59 0.52 0.42 now back at the same incidence of 2009
Slide 10: Assets & Liabilities
Assets & Liabilities Assets (EURm) 19,555 20,000 17,439 On the Assets side, single aggregates are almost 15,000 1Q10 stable since 1Q10, with the 1H10 exception of Loans to 10,000 9M10 6,443 6,706 2010 customers progressive 1Q11 growth 5,000 1,289 813 1,076 1,054 - Financial assets Financial assets F
Slide 11: Capital Ratios
Capital Ratios Capital Ratios 2,500 11,1% 11,5% 11,2% 11,6% 11,3% 11,5% 2,000 8,1% 8,5% 8,8% 8,6% 8,9% 8,4% 1,500 EURm 1,941 1,942 1,915 1,891 1,891 1,881 1,000 1,456 1,455 1,438 1,413 1,419 1,430 541 595 542 591 547 578 500 - 2009 1Q10 1H10 9M10 2010 1Q11 Tier I Capital Tier Total Capital Excess Ca
Slide 12: Distribution Network
Distribution Network Number of branches and 2008 2009 2010 1Q11 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 35 B.ca Euromobiliare 22 17 18 18 Fin. Stores C
Slide 13: 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 13
Slide 14: 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% 14
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
Credito Emiliano S.p.A. (Credem) — Q1 2011 Earnings Presentation on 6ix