Banca Sistema S.p.A. · MIL:BST
Banca Sistema — 9M 2018 Earnings Presentation
14 slides from Banca Sistema's earnings presentation, Oct 31, 2018
Slide 1: 9M 2018 Results
9M 2018 RESULTS 31 October 2018
Slide 2: 9M 2018 Results at a Glance
9M 2018 Results at a Glance Factoring Turnover +29% y/y equal to €1.7bn Commercial Tax receivables represents 17% of 9M 2018 factoring turnover performance CQS/CQP outstanding reached €609m, +44% y/y Adjusted Interest Income Margin in line with the Strategic Plan Net Interest Income equal to €53.0m,
Slide 3: Core business assets outstanding is growing
Core business assets outstanding is growing Factoring outstanding CQ Loans outstanding €m Of which 21% under €m Legal action +36% y/y +44% y/y 1,711 609 423 1,255 30.09.2017 30.09.2018 30.09.2017 30.09.2018 Outstanding breakdown (30.09.2018) Outstanding breakdown by Type (30.09.2018) By Type of Prod
Slide 4: 9M 2018 – Balance Sheet
9M 2018 – Balance Sheet Figures in millions of Euro Loans at amortized cost up 23% IAS39 IFRS9 (€2,322m): Change in % 31.12.2017 30.09.2018 Factoring receivables up +23% ASSETS at ̴€1.6bn, thanks to the turnover Fina ncia l as s ets a t fa ir va lue through P&L [Held to Sell] 1 100 nm originated in
Slide 5: 9M 2018 – Income Statement
9M 2018 – Income Statement Figures in millions of Euro IAS39 IFRS9 Change in % 30.09.2017 30.09.2018 Interes t i ncome 68.3 71.6 5% Interes t expens es (14.2) (18.5) 31% Net interest income 54.1 53.0 -2% Net fee a nd commi s s i on i ncome 7.4 10.6 45% Di vi dends a nd s i mi l a r i ncome 0.2 0.2 n
Slide 6: Total Income y/y and q/q supported by business growth
Total Income y/y and q/q supported by business growth 9M 2018 Interest Income y/y growth is Interest Income Total Income One-off from TLTRO driven by higher CQ contribution II funding lower €m €m Factoring represents 75% of Total Interest Adjusted Interest Income Margin1 contribution, -€0.8m Includi
Slide 7: Operating costs slightly higher y/y, but in line with the Plan
Operating costs slightly higher y/y, but in line with the Plan Administrative Expenses, Net Provisions for Operating Costs Personnel Expenses risk, Servicing Costs, Other and D&A €m FTEs (#) 153 179 +9% 28.4 30.8 15.6 16.4 12.8 14.4 13.5 14.4 2.1 2.0 9M 2017 9M 2018 9M 2017 9M 2018 9M 12017 9M22018
Slide 8: Higher diversification and stable cost
Higher diversification and stable cost Total Funding Breakdown Total Funding Breakdown • Cost of funding stable y/y Excluding including the €0.8m one- Funding Cost1 €0.8m off, deriving from TLTRO II (€123m) cost increase 0.9% 0.9% 0.9% 0.9% from -40bps to 0bps Wholesale 53% 52% 49% • Term Deposits s
Slide 9: Asset Quality driven by factoring business
Asset Quality driven by factoring business Gross Non Performing Exposures Net Non Performing Exposures €m 189.1 161.5 173.5 146.9 143.3 121.0 40.8 60.6 34.7 53.4 32.3 23.4 24.3 44.6 31.3 30.8 15.4 24.1 88.8 96.4 89.3 97.3 73.3 74.7 31.12.2017 30.06.2018 30.09.2018 31.12.2017 30.06.2018 30.09.2018 Pa
Slide 10: Regulatory Capital well above minimun requirements
Regulatory Capital well above minimun requirements CET1 and Total Capital(1) RWA breakdown CET1 Total Capital €m €m Operational Risk & Market Risk (2) Credit Risk TC Ratio 14.1% 14.2% CET1 Ratio 11.0% 11.1% 169.9 174.2 1,227.8 1,200.9 131.9 136.7 1,048.7 1075.6 152.2 152.2 30.06.2018 30.09.2018 30.0
Slide 11: Appendix
Appendix
Slide 12: Factoring Turnover
Factoring Turnover Factoring Turnover €m +29% 1,710 Turnover generated by agreements with Italian Retail banks: 1,328 29% in 9M 2018 (29% FY 2017) 9M 2017 9M 2018 9M 2018 Factoring Turnover breakdown By Type By Year of Customer’s Customer Concentration Acquisition Tax receivables Before 2016 9M 2018
Slide 13: Disclaimer
Disclaimer The distribution of this presentation in other jurisdictions may be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of, and observe, these restrictions. To the fullest extent permitted by applicable law, the companie
Slide 14: Head of Investor Relations
Carlo Di Pierro Head of Investor Relations carlo.dipierro@bancasistema.it +39 02 80280358 +39 3355288794