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Banca IFIS: an excellent 2013 The CEO Giovanni Bossi: the result we are most proud of is the Bank's asset quality. A 0,57 Euro dividend per share proposed to the Shareholders' Meeting. Full year 2013 1 January – 31 December • Profit for the year up 8,5% to 84,8 million Euro, and up 18,5% to 92,7 million Euro not accounting for the effects of the Finance Act. • Net banking income increasing by 7,9% to 264,2 million Euro. • Net profit from financial activities rising 14,9% to 219,6 million Euro. • Excellent cost/income ratio, 28,9% (27,8% in 2012). • Net non-performing loans/total loans in the Trade Receivables sector: 2,6% compared to 4,3% (December 2012). • ROE, equal to 24,8%, remains at excellent levels. • Solvency: 13,5%. • Core Tier 1: 13,7%. Browse the interactive 2013 annual report website: http://bilancio.bancaifis.it/en
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Highlights
Net Profit 84,8 (78,1 in 2012) +8,5%
Equity 380,3 (309,0 at 31/12/2012) + 23,1%
Funding 10.844,1 (7.676,3 at 31/12/2012) + 41,3%
Group KPI 2013 2012
ROE 24,8% 29,9%
Credit quality cost 2,4% 3,0%
Cost/income ratio 28,9% 27,9%
Solvency 13,50% 12,72%
Core Tier 1 13,70% 12,92%
Book value per share 7,21 5,77
EPS 1,61 1,46
(Milion Euro)
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Trade receivables sector
Clients+5%
Turnover 5,7 mld +15,4%
Trade Receivables
KPI 2013 2012
NBI/ Turnover 2,3% 2,3%
NBI/ Loans 6,7% 6,5%
12 months
data
Trade
Receiv. DRL
Tax
Receiv. G&S
2012 114,3 18,6 3,8 108,3
2013 129,7 24,4 9,3 100,8
Change 15,4 5,8 5,5 (7,5)
% Change 13,5% 31,2% 145,1% (6,9)%
NET BANKING INCOME
264,2 (244,9 in 2012)
+7,9% % Change 2013/2012
(Million Euro)
38%
4% 9%
49%
NBI 2013Breakdown
G&S
Tax Rec.
DRL
Trade Rec.
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Net provisions
Equal to 44,6 vs 53,7 in 2013 vs
2012
12 months
data
Trade
Receiv. DRL
Tax
Receiv. G&S
2012 69,2 16,6 3,5 101,9
2013 81,3 27,8 9,7 100,8
Change 12,1 11,2 6,2 (1,1)
% Change 17,5% 67,3% 179,1% (1,1%)
Group KPI 2013 2012
Credit quality
cost 2,4% 3,0%
NET RESULT OF FINANCIAL OPERATIONS
(Million Euro)
219,6 (191,2 in 2012)
+14,9% % Change 2013 / 2012
0,0%
0,5%
1,0%
1,5%
2,0%
2,5%
3,0%
3,5%
2009 2010 2011 2012 2013
Credit quality cost
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Group KPI 2013 2012
Credit Quality
Cost 2,4% 3,0%
Cost/Income ratio 28,9% 27,9%
Tax Rate 40,8% 36,4%
NET PROFIT
(Million Euro)
84,8 (78,2 in 2012)
+8,5% % Change 2013 / 2012
NBI Provisions Operating Costs Taxes Net Profit
264,2 44,6
76,4
58,4
84,8
7,9 tax impact of The Stability Law
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BALANCE SHEET – ASSET STRUCTURE
(Million Euro) % Change 2013 vs 2012
Total
assets
11,337.8
Due from banks
415,8 - 23,8%
Other Financial Assets (AFS + HTM)
8.347,2 +63,8%
Loans to customers
2.296,9 +0,8%
of which
1.938,4 Trade receivables
127,9 DRL
90,2 Tax receivables
Italian Government bond
portfolio
8.357,9
74%
20%
4% 2%
Financial assets Due from clients
Due from banks Other assets
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CREDIT QUALITY
Loans to customers: 1.938,4
Consolidated % Net NPLs/ Total trade receivables loan 5,1% vs 5,0% % Net Substandard /Total Loans 5,4% vs 8,9% % Net Impaired assets /Total loans 12,7% vs 19,2%
(Million Euro) % Change 2013 vs 2012
% Net NPLs / Total trade receivables loans 2,6% vs 4,3% % Net Substandard / Total Loans 3,2% vs 7,7% % Net Impaired assets / Total loans 8,4% vs 18,9%
0
20
40
60
80
100
120
140
Net NPL Net Substandard Rescheduled Overdue
2013
20122013
2012
2013
2012
2013 2012
2013
2012
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Loans , NPLs, Substandard trends in Trade Receivables Segment
0,00%
2,00%
4,00%
6,00%
8,00%
10,00%
12,00%
-
500.000
1.000.000
1.500.000
2.000.000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
LOANS NPL/ LOANS SUBSTANDARD/LOANS
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Breakdown
% Change 31.12.2013 31.12.2012
AFS 2.515,8 1.961,6 28,3%
HTM 5.818,0 3.120,4 86,4%
Receivables due from banks -bonds 24,0 58,1 (58,7)%
Total 8.357,9 5.140,1 62,6%
DEBT SECURITIES PORTFOLIO
up to 3
months
from over
3 months
to 6
months
from over
6 months
to 1 year
from over
1 year to 2
years
from over
2 to 5
years
Total
Total 998,7 1.232,6 1.311,2 1.979,4 2.835,9 8.357,9
% on total 11,9% 14,7% 15,7% 23,7% 34,0% 100,0%
(Million of Euro)
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rendimax & contomax
3.868,1 +27,0%
Total funds 10.844,1 +41,3%
Wholesale funding 263,7 PCT
Repurchase agreements with underlying government bonds
and Cassa di Compensazione e Garanzia as counterparty
Wholesale funding
6.665,8 due to banks +1096,0%
BALANCE SHEET – FUNDING STRUCTURE
(Million Euro) % change 31.12.2013 vs 31.12.2012
36% 64%
retail wholesale
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BANCA IFIS GROUP: EQUITY BREAKDOWN
(Million of Euro)
EQUITY : CHANGES
NET EQUITY AT 31.12.2012 309,0
Increases: 100,3
Profit for the period 84,8
Sale of treasury shares 4,7
Change valuation reserve: 10,8
- AFS asset 10,7
Decreases: (29,0)
Dividends (19,5)
Change valuation reserve: (0,6)
- Currency changes (0,6)
Purchase of treasury shares (8,9)
NET EQUITY AT 31.12.2013 380,3
