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1 January-31 March 2013 • Net banking income increasing by 27,5% to 66,9 million Euro • Net profit from financial activities increasing by 14% to 53,1 million Euro • Cost/income ratio further improving, down to 26,5% • Profit for the period increasing by 13,9% to over 22 million Euro • Non-performing loans/total loans in the trade receivables sector: 3,5% compared to 4,3% • Solvency: 12,9% • Core Tier 1: 13,1 % The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien von Furstenberg and has approved the results for the first quarter of 2013. "2013 is positive for the whole Group against the backdrop of a recessionary economy. Lenders are leaving no stone unturned in enduring this situation and seeking growth, and we want to play an active role in this phase", says Giovanni Bossi, the CEO. "In keeping with the projects defined in 2012, this year we have already launched the new online current account and, a few days ago, the new IT system for the services to businesses. The Bank's new "nervous system" allows us to build a company that is more effective in addressing the needs of businesses, households and individuals that rely on us every day. Smaller companies and the increasing debt burden of a growing number of households represent a challenge we have to overcome, with the aim of restoring confidence in Italy's economy".
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BANCA IFIS GROUP: 1Q 2013 RESULTS
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HIGHLIGHTS
Net profit 22,5 (19,7 in 1Q 2012) +13,9%
Equity 332,3 (309 at 31/12/2012) +7,5%
Funding 9.892,6 (7.676,3 at 31/12/2012) +28,9%
GROUP KPIs 1Q 2013 1Q 2012
Credit quality cost 3,4% 2,1%
Cost/income ratio 26,5% 29,6%
Solvency 12,9% 10,9%
Core Tier 1 13,1% 11,1%
Book value per share 6,28 4,91
(million Euro)
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Trade receivables sector
Clients +19%
Turnover 1,212 +7,5%
Focus on SMEs
Trade
receivables
KPIs
1Q
2013
1Q
2012
Net Banking
Income/Turnover 2,4% 2,0%
NET BANKING INCOME
66,9 (52,4 in 1Q 2012)
+27,5% % change 1Q 2013 / 2012
(million Euro)
41%
5% 11%
43%
Breakdown NBI 1Q 2013
G&S
Tax Receiv.
NPL
Trade Receiv.
Data 1Q Trade
Receiv. NPL
Tax
Receiv. G&S
2012 22,3 5,5 0,4 24,4
2013 28,7 7,4 3,1 27,6
Change 6,4 1,9 2,7 3,3
% Change 28,8% 35,5% 769,9% 13,5%
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Net provisions
Equal to 13,7 VS 5,8 in 1Q 2012
Group KPI 1Q 2013 1Q 2012
Credit
quality cost 3,4% 2,1%
NET RESULT OF FINANCIAL OPERATIONS
(million Euro)
53,1 (46,6 in 1Q 2012)
+14,0% % change 1 Q 2013 / 2012
0,0%0,5%1,0%1,5%2,0%2,5%3,0%3,5%4,0%
2009 2010 2011 2012 1Q2013
Credit quality cost
Data 1Q Trade
Receiv. NPL
Tax
receiv. G&S
2012 16,5 5,4 0,4 24,3
2013 15,4 6,6 3,5 27,6
Change -1,1 1,2 3,1 3,3
% Change -6,4% 22,4% 854,1% 13,5%
5
13,7
17,7
22,5
13,0
Group KPI 1Q
2013
1Q
2012
Credit quality cost 3,4% 2,10%
Cost/income ratio 26,5% 29,6%
Tax rate 36,6% 36,6%
NET PROFIT
(million Euro)
22,5 (19,7 in 1Q 2012)
+13,9% % change1Q 2013/2012
21%
26%
19%
34%
Breakdown Group NBI
13,7 Provisions 17,7 Operating costs
13 Taxes 22,5 Net profit
66,9
NBI Net provisions Operating costs Taxes Net Profit
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BALANCE SHEET - ASSET STRUCTURE
(million Euro). % change 31/03/2013 Vs 31/12/2012
Total assets 10.345,4
Due from banks
479,1 -12,2%
Other Financial Assets (AFS + HTM + L&R)
7.492,3 +45,8%
Loans to customers
2.188,8 -4,5%
of which
107,0 NPL
91,7 Tax
receivables
Portfolio of Italian
government bonds
7.436,6
72%
21%
5%
2%
Financial assets Due from clients
Due from banks Other assets
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CREDIT QUALITY
(million Euro) % change 31/03/2013 Vs 31/12/2012
Loans to customers 2.188,8
0
50
100
150
200
250
300
350
400
450
NPL Substandard Rescheduled Overdue Total
105
198
8
90
401
115
204
8
113
440
Impaired Assets 59,6 57%
41,9 40%
3,2 3%
Trade recs NPL Tax recs
NPL breakdown
132,7 67%
65,1 33%
Trade recs NPL
Substandard loan breakdowm
% NPLs/ total loans 4,8% vs 5,0% % Substandard / total loans 9,0% vs 8,9% % Impaired assets / total loans
18,3% vs 19,2%
% NPLs/ total trade receivables 4,8% vs 5,0% % Substandard / total trade receivables 9,0% vs 8,9% % Impaired assets / Trade receivables 18,3% vs 19,2%
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up to
3 months
from over
3 to
6 months
from over
6 months
to
1 year
from over
1 year to
2 years
from over
2 to
5 years
Over 5
years Total
Total 556,2 1.037,6 1.011,2 2.395,9
2.182,1
309,3 7.492,3
% on total 7,5% 13,8% 13,5% 32,0%
29,1%
4,1% 100,0%
Breakdown
% Change 31.12.2013 31.12.2012
Available for sale financial assets 2.750,6 1.961,6 40,2%
Held to maturity financial assets 4.710,6 3.120,4 51,0%
Receivables due from banks - bonds 31,1 58,1 (46,5)%
Financial assets held for trading - - n.s.
Total 7.492,3 5.140,1 45,8%
DEBT SECURITIES PORTFOLIO
(million Euro) % change 31/03/2013 Vs 31/12/2012
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rendimax on line deposit account
3.560,4 +16,9%
Total funds and deposits 9.892,6 +28,9%
Wholesale funding
601,0 due to banks +7,8%
BALANCE SHEET - FUNDING STRUCTURE
(million Euro) % change 31/03/2013 Vs 31/12/2012
Wholesale funding
5.675,3 +40,5%
Repurchase agreements with underlying government bonds
and the Cassa di Compensazione e Garanzia as
counterparty
36%
64%
Retail
Wholesale
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BANCA IFIS GROUP: EQUITY BREAKDOWN
(million Euro)
EQUITY: CHANGES
Net equity at 31.12.2012 309,0
Increases: 27,7
Profit for the period 22,5
Valuation reserve: 5,2
- Available for sale assets 5,2
Decreases: (4,4)
Valuation reserve: (0,8)
- Exchange differences (0,8)
Purchase of treasury shares (3,6)
Net equity at 31.03.2013 332,3
