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Newsletter Banca IFIS Group 3

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Newsletter Banca IFIS Group 3, october 2012.

Newsletter Banca IFIS Group 3, october 2012.

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  • 1. 01_First half results: a record... ofOlympic proportions!02_2012, not only rendimax: a newcurrent account available fromDecember03_Interactivity and creativity: theidea competition that will decoratethe new account and other things04_The Group recruitmentcampaign continues05_Enterprises’ World06_On the Agenda: upcoming events07_Contactsfollow us on:03012Newsletter 3Ryan Wick01 October 2012_Quarterly
  • 2. follow us on:0201 First half results: a record... ofOlympic proportions!The Board of Directors of Banca IFIS approved theinterim report on 9 August and the results for the firsthalf of 2012 confirmed the upwards trend already seenin 2011 and in the first quarter of 2012.The main evidence that emerged between 1 January and30 June 2012 included a further increase in net bankingincome, both compared to 31 December 2011 (+110.3%increasing from 51.0 to 107.3 million Euro) and to theprevious quarter (when net banking income increasedfrom 26.8 to 54.9 million Euro). All the Group’s sectorscontributed to these figures, with more significantcontributions from trade receivables, the sector ofnon performing loans, and tax receivables purchasedfrom insolvency proceedings; there was a substantialcontribution from the securities portfolio too.Net profit from financial activities was also up on thesame period in the previous year, as it grew from 39.6million Euro in the first half of 2011 to 92.5 millionEuro in the first half of 2012 (+133.6%). A comparisonbetween the second quarter of 2012 and the secondquarter of 2011 shows an increase from 20.7 to 45.8million Euro (+121.8%).On the other hand, the cost/income ratio fellconsiderably from 39.2% to 32.3%.Retail funding continued to increase (+56.9%), andnet profit also posted positive results as it increased by188.6% in the first six months of 2012 to 37.7 millionEuro, compared to 13.0 million in the first half of 2011(17.9 million Euro in the quarter, +140.4% comparedto 7.5 million Euro in the second quarter of 2011). Thisprovides a further boost to the Bank, allowing it to faceconfidently and with determination the second half ofthe year.The equity attributable to the Group also increasedsignificantly from 196.3 million Euro as at 31 December2011 to 257.7 million Euro as at 30 June 2012, with asolvency ratio of 11.9% (10.8% in December 2011) anda Core Tier 1 ratio of 12.1% (11.2% in December 2011).The increase in equity is partly due to the change in themeasurement at fair value of government bonds in theportfolio.Funding levels continued to climb in the second quarterof 2012: rendimax, the Banca IFIS savings account,continues to attract new customers, with total liquidity,increasing by about one billion Euro in six monthsalone, providing the Group with a strong advantageboth in its ability to meet market demand and inproviding further cushion against any downturns thatcould occur in the overall scenario.Despite considerable market uncertainty, there wasa 12% increase in loans to customers, reaffirming theBank’s commitment to back deserving companies,including SMEs creditor to the Public Administration.“We are well aware ofthe difficulties in Italyand Europe as a whole,but we are also carefulto the opportunitiesthat await when thefuture is defined by ideasrather than money, andby proactive initiativesrather than the size oforganisations.”A word from theCEO, GiovanniBossi
  • 3. follow us on:03“Thanks to the initiatives taken, which will continue toget results in the next few months, the profitability ofthis period will allow us to plan an increase in loans tosupport local companies”.Comments by the CEO, Giovanni BossiThe Banca IFIS non-performing loans sector startedstrongly in the first half of 2012 with the purchaseof significant Italian portfolios from two largeinternational banking groups, and a third agreementfinalized at the end of June; the focus of the businessthen shifted to improving efficiency in procedures,resources and tools to manage credit positions. Thefirst benefits of all this work are expected to be felt inthe second half of the year with an expected increasein profitability.The Group has reinforced its leading role in purchasingtax receivables arising from insolvency proceedingsthrough Fast Finance, incorporated last June.
  • 4. follow us on:0402 2012, not only rendimax: anew current account availablefrom DecemberBanca IFIS will continue to interact with Internet usersand respond to their numerous requests: contomax,a new, high-yield, on-line current account will belaunched by the end of the year. Right from the startcontomax will feature all the services that on-linesurveys have shown to be important, with over 12,000votes on the website, the Facebook page and the OnlineFinance Forum: direct debit of utility bills, Telepasspayments, possibility of transferring amounts betweencontomax and rendimax accounts, and an advancedATM card that allows on-line transactions on theMaestro network, with the Token as security tool.This current account will be heavily driven by socialnetworks with a Facebook page and twitter profile. Thelast in particular will represent the on-line CustomerCare, supporting the Customer Service department foranyone who will need information or assistance. Thecontomax website shall be essential (www.contomax.it)and it will ‘change look’ and provide information on themain steps being taken in the lead up to the launch ofthe new product. This channel will also operate throughthe social networks with collaboration requested fromthe Internet users on occasion.But there is more. The requests made by rendimaxCustomers have been granted yet again: theproportional tax on financial products and currentaccounts introduced by D.L. 16/2012 (also appliedto savings accounts from the first of January, andamounting to 0.10% in 2012 and 0.15% in 2013) shallbe borne by the Bank in 2013. Once again this decision,already adopted in 2012, ensures that Customers cancontinue to enjoy their rendimax savings accounts for2013 free of charge.
  • 5. follow us on:0503 Interactivity and creativity:the idea competition that willdecorate the new account andother thingscontomax, “the account that originates and grows alongwith you”, will be designed step by step by the Internetusers. They have already expressed their opinions andadvice on the service opportunities that can provide an‘advanced ATM card’ along with other more sensitiveaspects such as security and home banking.However, web users will not ‘just’ be able to design theaccount: they will also have the privilege of decorating it.On 19 September Banca IFIS launched Street Network,an ideas competition for artists and the best streetartists in Italy, through which the contomax layout willbe designed. The competition aims at rewarding thevarious interpretations of an art movement that hassprung up over the last few decades, and that can grabthe attention of the media and public opinion due to itssocial nature; the intention is to create the graphics forthe current account through the use of crowdsourcing,the so-called ‘power of the crowd’.As with the surveys, it will be the people that createthrough their contributions the added value to theservices offered by Banca IFIS, continuing to collaboratein the same spirit that has made the Customers the realdrivers behind the Group’s commercial policies.
  • 6. follow us on:06The winning work will be the contomax corporateimage. The artists will be able to send in their works upto 15 October; they will have to use the contomax brandcolours (light blue and fuchsia) and add a description ofhow the idea was conceived and what instruments andsupports were used to create it. Once the deadline haspassed, a jury comprising people from different culturalareas will judge the works and select 50 of them to makeup the short list of finalists. The Internet users will thendecide the winner, voting for their favourite creationthrough the contomax website. The winning artist willreceive a cash earnings and the opportunity to createand show his or her work during the awards ceremonyplanned for the beginning of December.
  • 7. follow us on:0704 The Group recruitmentcampaign continuesBucking negative national employment trends, andstimulated by its positive first half results, Banca IFIScontinues to its recruitment campaign, and is always onthe lookout for professional profiles with high levels ofambition, resourcefulness and ability.The growth and success achieved by the Group bearsout its decision to focus on talented young peoplewith high school diplomas or degrees, encouragedto express their full potential in a dynamic, proactiveenvironment.The positions available can be found by consultingthe web site and under the Careers section of theBanca IFIS Group LinkedIn page (www.linkedin.com/company/banca-ifis/careers) which is monitored andupdated every day with offers of work.The intense recruitment activity on the social networksby the Group led to its inclusion in the ‘best practice’during the LinkedIn Day Forum, which will be heldon Thursday, 4 October starting from 9:30 at the Leon’sPlace hotel in Rome: an opportunity to meet the mostinnovative companies in Italy with respect to thedevelopment of recruitment tools.Professional positions are available in the sales area(Sales Manager) in addition to other managerial roles,mainly involving the organisation and management ofthe Group’s business units.The vacancies available are:• Stage Junior Credit Manager (Cuneo);• Office Manager – Southern Italy and Islands (Naples);• Office Manager – Northeast Italy (Venice);• Sales Manager (Bergamo, Genoa, Pordenone,Salerno).gerlos
  • 8. follow us on:0805 Enterprises’WorldBanca IFIS is increasingly committed to Smalland Medium sized Enterprises. In addition to theinformation on corporate funding through Factoring,our on-line presence shows a constantly evolving trend.In our last newsletters, we described how the wholeGroup corporate website had been redesigned to makeit easier to use by entrepreneurs, who have a big sectiondedicated to them on the homepage. The MondoPMIblog was also created for this sector (www.mondopmi.com); this tool provides daily information on credit,financing and new laws that affect companies.The MondoPMI initiative has proven highly successful,with over 9,000 hits on its articles over the past 4months. This interest has led Banca IFIS to update its‘look’ to make it easier for readers to search by topics,and allow all the information on a certain subject tobe immediately retrieved. Four ‘window’ pages thatare updated with the latest news showcase the mostinteresting information on the Internet.Moreover to the new graphic layout, MondoPMIalso provides a new service for its readers: theweekly newsletter. Each Monday the most importantinformation from the previous week will be sent to thesubscribers’ in-boxes. This free service can be requestedby anyone who leaves their name and e-mail address inthe subscriber’s section on the home page.In addition, work on the Twitter channel continues.There are now more than 125 followers, and this
  • 9. follow us on:09number is expected to grow. The profile not onlyreport the daily publications and the main generalnews, but also serves as a primary interaction resourcewith readers, who can ask questions or suggest newarticle topics. The dynamic editorial team will be ableto provide readers with the information they require,aware that collaboration is at the heart of a trusting,long-term relationship.Offline, Banca IFIS’s work in favour of companiesincludes several events, that continue to be organised toshowcase the services offered by the Bank. As describedbelow, over the next few months you will be able tomeet our sales representatives at Fiera Milano, whereBanca IFIS is attending at the Matching 2012, a seriesof meetings aimed at establishing business relationsamong entrepreneurs, and especially those belongingto the Small and Medium sized Enterprises.THE MONDOPMI NEWSLETTERIf you subscribe you will be constantlyupdated on all the main topics of theweek
  • 10. follow us on:1006 On the Agenda:upcoming eventsThe International Workshop on the Non PerformingLoans was held at the Banca IFIS headquarters in asso-ciation with Credit Village. This meeting involved bothItalian and international players, representing an oppor-tunity for professional updating and to compare notes onpotential prospects and the outlook in an increasingly in-teresting market. Interviews with the NPL sector expertscan be seen on the Banca IFIS YouTube channel.The upcoming Banca IFIS corporate events of the Groupinclude:• from 2 to 4 October, Banca IFIS will take part in theStar Conference 2012, the event dedicated to theoperators listed on the STAR segment of the ItalianStock Exchange. This will be held in London at theoffices of the London Stock Exchange Group. Themeeting will be called: “The excellence of ItalianCompanies meets global investment standards:transparency, liquidity and governance”;• on 4 October, Banca IFIS will take part in the LinkedInDay Forum, which will be held on Thursday, 4October, at the Leon’s Place hotel in Rome;• on 25 and 26 October, Banca IFIS will take part inthe South Europe & Switzerland Midcap Event, abusiness event specialised one-to-one meetingsorganised in Paris. The CEO, Giovanni Bossi, willmeet institutional investors in two days of non-stopmeetings;• on 6 November, an event called Rimettere le scarpe aisogni [Get your dreams to walk with you] event willbe held, jointly organised by Banca IFIS and Saloned’Impresa. The theme of the event shall be “The silentrevolution of the markets… and the weapons used bycompanies”;• on 23 November the third edition of the InvestorMeeting One Day in Venice will be held. The eventwill be by invitation only and, as usual, will be heldin the magnificent Villa Furstenberg, the head officeof the Banca IFIS Group; it will be jointly organisedby Banca IFIS and Centrobanca, the Corporate andInvestment Bank of the UBI Group;• from 26 to 28 November, Banca IFIS will take partin the seventh edition of Matching, a business eventthat aims to stimulate new relationships and meetingsamong entrepreneurs, especially from Small andMedium sized Enterprises. The 2012 edition will beheld at Fiera Milano;• on 3 December, the Street Network prize-givingceremony will be held, for the competition involvingstreet artists, writers and Internet users to design thegraphics of the new contomax current account;• Banca IFIS will take part in the fourth edition of theEuropean Mid Cap Event in Geneva on 11 and 12December.• In the first half of December, Banca IFIS will hostat its head office an event aimed at creating newopportunitiesbetweenthemarketsoftheAbruzzoandVeneto regions in association with the AssociazioneVeneti In Abruzzo [Veneto-Abruzzo Association].Villa Furstenberg willonce again play host tothe Investor Meeting OneDay in Venice.Meetingscheduled for 23November
  • 11. follow us on:11Price on 27/09/2012 5,225 €365 day Min-Max Min 3,678 € – Max 5,49 €Number of shares issued 53.811.095Capitalization 281.162.971,38 €1 month preformance +8.57%6 month performance +13,01%1 year performance +22,21%Dividend paid 0,250 €/share (07/05/2012)Specialist CentrobancaThanks to the positive results achieved, interest in Banca IFIS’s shares has increased markedly. All new reports andupdates published by research centers assess positively the bank equity story.Banca IFIS shares on the stock marketFinancial calendarSebastian Egon Furstenberg 69,3 %Flottante 24,1%Giovanni Bossi 3,4%Riccardo Preve 2,4%Azioni proprie 0,8%Wednesday 14 November 2012 Approval of quarterly resultsShareholders’ breakdown27 September 2012
  • 12. follow us on:12ContactsFollow us onhttps://twitter.com/BancaIFIShttp://www.facebook.com/Banca.IFIShttp://www.linkedin.com/company/banca-ifishttp://www.youtube.com/user/BancaIFISWebsite: http://www.bancaifis.comWebsite of 2011 financial statements:http://annualreport.bancaifis.itInvestor contact: Mara Di GiorgioEmail: mara.digiorgio@bancaifis.itTel. +39 041 502 7623Coverage by analystsMarco OpipariCentrobanca, Gruppo UBI Bancamarco.opipari@centrobanca.it_Mark ThomasEdison, Investment Researchfinancials@edisoninvestmentresearch.co.ukMarco CavalleriBanca Akrosmarco.cavalleri@bancaakros.it_07 Contacts

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