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Newsletter Banca IFIS Group 4

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Newsletter Banca IFIS Group 4, december 2012

Newsletter Banca IFIS Group 4, december 2012

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  • 1. 00_Giovanni Bossi’s editorial01_The Group’s excellenteconomic-financial resultsin the first 9 months of the year02_Ready, set, GO!The contomax current accountkicks off on 7th January!03_StreetNetwork: a day of art,music and dancing that involved thegeneral public and the Web04_3.0 Bank: WebTV and much more05_Social recruiting catches onNew job openings at Banca IFIS06_What are “Non Performing Lo-ans” exactly?07_Enterprises’ World08_On the agenda09_Contactsfollow us on:04201231 December 2012_QuarterlyNewsletter 4makelessnoise
  • 2. follow us on:02Giovanni Bossi’s editorial2012. A year of very important growth and ofbreaking off with the past. Excellent profitability,excess liquidity and first-rate equity are the threepillars underlying the increase in the Bank’s figures.However, the year that has just ended should be remembered,above all, for what the Group planned and achieved, buildingits future with perseverance and dedication, with thegoal of writing a small new page in the never-ending bookabout the banks’ role in Italy and the whole of Europe.A successful year, then. The best year yet in BancaIFIS’s history. The result of proper choices and ideas,interpreted by people who, with their energy, desire,intelligence, expertise and, above all, soul and passion,were able to give the company’s activity the right pace.Today, the Group can rely on a strong identity. It pursuesits objectives without hesitation, renewing them andincreasing its rise ambitions as soon as possibilities. Theability to quickly renew itself; to look at other contextssuggesting new answers; the push by people who haveshared stimuli as well as new ways of working, continuallyputting themselves on the line, with transparency anda vision of the future: these are the levers for change.2013 will be a year full of challenges. The little or no growthof economies, together with the necessary fiscal compactpolicies in both the public and private sectors, lead to fearsthat the economic trend will worsen. But the Bank will befacing these challenges being fully prepared and solid, withtheintentionofcontinuingtostrengthenitsteam,developingthe skills of its human resources and investing in theircapabilities so they may perform their jobs better and better.Reacting to changes in an increasingly quick and effectivemanner will be crucial: in such an unpredictable context,the ability to react will be more important than the abilityto predict. It will also be important to maintain a highsense of responsibility towards all those involved: fromenterprises to savers, from colleagues to stakeholders.BancaIFISknowshowtorecognizegoodworkinthecompaniesit finances, and has to continue unceasingly in their selection,confirming its commitment to virtuous enterprises. TheBank supports growth instead of creating it. It works side byside with the company that works in a virtuous fashion, anddoes not make choices for the entrepreneur. Lastly, the Bankchooses to act in order to help those who deserve it and toreject those who do not. This Banca IFIS’s task, this is theobjectivethatwillleadthebanktogrowquicklyamongthetopfive players on the market. With a focus on enterprises thatinnovate and export; on those that have receivables due fromthe Public Administration and have an eye on encouragingthe completion of bankruptcy procedures, releasing themfrom tax receivables and contributing to the recirculationof capital resources that are important for growth.Major innovations for the NPL division, wich concentrateson the management of accounts towards counterpartswho are families often experiencing financial troubles.New instruments and processes will gradually take shapeduring the year, and the search for sustainable solutionswill lead to a stronger commitment towards the hundredsof thousands of people towards which the Bank boasts acredit. Sustainability, reliability and mutual respect will bethe passwords for the Group’s presence in the credit recoverysector, where much can be done to improve the quality of lifeof those who have had or are currently experiencing a difficultfinancial situation, often for reasons beyond their will.New challenges in retail deposits: the most delicate one is thelaunch of the contomax crowd bank account, which joins therendimax savings account and will allow us to offer our clientssomethingthatiscompletelynew,throughasimpleandhonestrelationship. Excellent service, internal efficiency that meansindustrial product costs cut to a minimum, innovation in theproduct range are and will remain the pillars of our deposits.On a difficult market, the Bank shows up for the newyear with what it takes to grow and contribute, asalways, to the economy of the system. Our commitmentand our promise to do our best in order to be stronger,and to use our new strength to do even better.Giovanni Bossi, CEO Banca IFIS
  • 3. follow us on:0301 The Group’s excellenteconomic-financial resultsin the first 9 months of the yearThe Banca IFIS Group continues to grow inthe third quarter, thus confirming the trendof the previous interim reports. The thirdquarter figures were approved by the Boardof Directors this past 30th September 2012.The main data highlighted by the results includea 100% increase in the banking income, upto € 167.6 million in the first nine months ofthe year (with an 84% increase in the thirdquarter). Strong growth made possible thanksto the positive contribution of all Groupsectors. Net banking income grew by 115.9%to € 140.1 million, also increasing in the thirdquarter by 88.1%. A strong reduction in thecosts/banking income ratio is confirmed onceagain, which falls from 38.8% down to 30.6%.The increase in net profits is especiallynoteworthy as it grows to € 57.8 million, anincrease of 175.5% in the first nine months ofthe year (for the third quarter, it settles at € 20.2million, a 154.1% increase). This is in additionto the constant success of retail deposits, whichincreased by 75.6% to further strengthen theBank so that it can face the last part of theyear with determination and peace of mind.The Group’s Net Equity is also on the rise, from€ 196.3 million as of 31st December 2011to 284 million as of 30th September 2012.In the area of commercial loans, during thefirst nine months of the year the numberof financed customers increased by 12%,thus proving that the Bank supports worthycompanies, including those with receivablesdue from the Public Administration.In the sector for non-performing loans, a strongstructural change has taken place within themarket, and Toscana Finanza, which joined theGroup on 1st July 2011, has shown its abilityto seize new opportunities: at the beginningof the year, important portfolio purchaseswere made from two major internationalbanking groups, while a third agreement wassigned at the end of June. Throughout thenine months, the activity also focused onstrengthening the processes, resources andinstruments applied in the management of loanaccounts, which total approximately 400,000.rendimax, Banca IFIS’s savings account,continues to be a huge success, in terms ofboth the increase in the number of customers,more than 60,000 at the end of the period,and of the strong increase in deposits. Thesize of the securities portfolio continuesbe significant, equal to € 4,612.7 million atthe end of the period, mostly short-termand fixed-rate or short/medium-term andvariable rate, of which € 4,462.3 million referto Italian government bonds. Investing insecurities allows the Bank to make profitssuited to increasing its Equity, without takingaway financial resources from corporate loansor having to resort to capital increases.“The third quarterconfirmed the growthtrend from the first halfof the year. All businessunits have achievedimpressive results byworking with resolutionand enthusiasm to seizeall the opportunitiesoffered by an ever-evolving market.”
  • 4. follow us on:0402 Ready, set, GO!The contomax current account kicks off on 7th January!contomax, Banca IFIS’s crowd current account,is the result of a dialogue with the Internet; itwill be operational as from 7th January, andcan be found on the website www.contomax.it. Innovative, simple, safe and high-yieldingright from the start, it offers solutions in linewith the on-line world from which it originates.The main services are available immediatly:advanced Bancomat (cash card that can alsobe used for on-line purchases on the Maestrocircuit); payment of utility bills and Telepassmotorway tools, and transfer of funds fromone account to the other, in addition to mobilephone top-ups. Security is ensured by the Tokensystem, which generates single-use codes.Internet users were precisely the ones todetermine, by participating in a series of onlinesurveys published on social networks and on thewebsite, the basic services that contomax had tooffer right from the word “go”, with over 12,000preferences being expressed. contomax thusaims to satisfy the savers’ needs. Moreover, itallows them not to miss out on the yield, thanksto a set of interest rates for the deposited sums.contomax Free, the non-term account formula,willofferaninterestrateof1.50%withquarterlypayment, while the contomax Now termaccounts, with pre-paid interest and maturitydates from 1 to 24 months, offer interestrates ranging from 2.85% to 3.85%. contomaxUp, on the other hand, offers term depositswith deferred interest payment for maturitydates from 3 to 24 months, with interest ratesfrom 3.10% to 4.35%. Lastly, the contomaxOne option which, in line with rendimax Like,allows customers to withdraw the desired sumswith a 33-day advance notice, with a 3.5%yield. What about the costs? This is a low-costaccount, with no opening or managementfees, that also includes an unlimited numberof transactions throughout the year. Thedebit card and Internet banking are also freeof charge, as well as the first 5 withdrawalsof the month from ATMs located in Italy.Contomax’s socialnetwork presence
  • 5. follow us on:0503StreetNetwork, the ideas contest organizedby Banca IFIS in order to give contomax,the crowd current account of the future, itsgraphic layout, has come to an end, and on 3rdDecember, Riccardo Bernucci, the Internet’sfavourite, was able to recreate his work live ata truly amazing location: the city of Venice. TheSanta Lucia railway station provided the settingfor a day to remember, during which Riccardo,professionally known as New-R, recreatedthe graphic layout of contomax step by step,representing its concept of network andcollaboration… But the artist was not alone.Around him, a crew of colourful and young hiphop dancers performed a series of flashmobsthat gave rhythm to the day and furtherinvolved the crowd of bystanders who stoppedto watch both Riccardo at work and the dancers.All broadcast in real time on the Web, in theperfect 3.0 spirit of the project, thus spreadingthe StreetNetwork mood in the virtual worldas well: fast, immediate and with high impact.RiccardoBernucci’sartworkpassedtheselectionby a specialized panel of judges, led by the artcritic Fabiola Naldi, and then, together with theother finalists, faced the Web’s opinion. 22 yearsold, Riccardo is currently studying industrialdesign at the Faculty of Architecture of Genoa.He approached the art of “writing” when he wasjust 16 years old. We asked him where he gotthe inspiration for his artwork. “Looking at thewebsite and contomax graphics, I immediatelycame upon an idea that would be suited to therequests. In my opinion, the lettering neededto be changed, keeping its communicativepower but at the same time turning it intoa simple graphic sign. So I took the wordswhich were important to me for the contest:“network”, “Internet” and “information”. I putthem together on a piece of paper, in a simpleand spontaneous manner. As Crozza says – ifyou get it, it’s a chair, if you don’t, it’s design!!”There were also some unexpected turn ofevents during the day: after eight hours ofhard work, two “thieves” stole the artwork.There were moments of despair, but Riccardokept his cool. During the official awardsceremony held at Villa Furstenberg, BancaIFIS’s headquarters in Mestre, the artworkreappeared, returned by the likeable “thieves”,to the joy of everyone attending the ceremony.The event was hosted by Mauro Lupi, expert incommunication and social media marketing.We would like to thank all those who madethis very special day possible, part of a projectthat has originated and will continue to growthanks to the interaction with the communityand with the Internet: thanks to the desire toexchange views with the users and get theminvolved, for a crowd and co-creation future.StreetNetwork: a day of art,music and dancing that involvedthe general public and the WebPhotos of the liveevent in Venicewww.streetnetwork.itfacebook.com/StreetNetworktwitter.com/StreetNetworkIT
  • 6. follow us on:063.0Bank:WebTVandmuchmore04 Banca IFIS, in line with its innovating nature,has launched an instrument that will allowall Internet users to stay up-to-date withactivities being carried out by the Group’svarious divisions: tvchannel.bancaifis.it.The platform has a twofold function.It represents a “showcase” that brings togetherall the videos taken during the presentationsof financial data, events in which the Group isinvolved and the promotion of new productsassociatedwiththeBank.Moreover,intimeitwillbecome the official Academy within the Group,with contents that will be constantly updated:an e-learning service, consisting of video-lessons, tutorials, conferences and workshops,will be available to all registered employees.WebTV is only the latest step taken in theworld of the Web by Banca IFIS. Below, adetailed list of the channels used by the Group.• LINKEDIN: Banca IFIS has over 2,300followers on the website par excellencededicated to professional networks. Moreover,Banca IFIS was mentioned preciselyby LinkedIn as a success story in Italy.• FACEBOOK: a total of 5,000 fans on thepages of the various rendimax, contomaxand Banca IFIS profiles, where saversand fans interact with us on a daily basis.• TWITTER: 1,000 followers for the contomax,rendimax, Banca IFIS and MondoPMI profiles.• YOUTUBE: 39 videos uploaded, with 28,000visualizations.The Group can also be found on social networkssuch as Pinterest, Google+ and Slideshare.Not to mention the blogs Salvarisparmio.comand MondoPMI.com, dedicated, respectively,to the two topics of savings and Small andMedium-sized Enterprises. In the first case,current events, analyses covering a widerange of topics and readings accompanyInternet users an additional point of viewon evaluating expenses and investments andalso gives small tips on savings. MondoPMI,on the other hand, supports the exchange ofideas and is a useful source of information: ameeting point to talk about credit, corporatefinancing and administrative news. Duringthe Christmas holidays, through the NataleImpresa initiative it voiced the entrepreneurs’desires and requests, in order to identify ideas,needs and creativity of professionals workingfor Small and Medium-sized Enterprises(over 4,500 unique visitors during the pre-Christmas period, a 60% increase in blogvisits, and a reached base of Twitter users ofapproximately 60,000 contacts). Thanks tothe ideas submitted by the visitors, a series ofinitiatives will be launched (both of a publishingnature and in the form of events) during 2013.The first project is the section dedicated tointerviews with entrepreneurs, which aims athighlighting success stories and sharing theentrepreneur’s stories, choices and journeys.The Group’s latestsocial initiatives
  • 7. follow us on:0705 SocialrecruitingcatchesonNewjobopeningsatBancaIFISThe dynamic evolution of the Banca IFISGroup continues, along with the search fortalent to add to its workforce. The Bankaddresses both youngsters, for whom itprovides training and professional growthwithin its organization, and senior figures,who can contribute their experience.Currently, there are various job openings:OracleDatabaseAdministrator,SeniorSoftwareTester and IT Security Systems Analysts – all inVenice;CustomerManager-BancaIFISDivisionin Brescia; Sales Manager - Banca IFIS Divisionin Bari, Triveneto and Milan; Export SalesManager–InternationalDivisionagaininMilan.We would like to develop the Linkedin functionin terms of the Banca IFIS recruiting campaign.The Group joined the world of Linkedin inAutumn 2011, when it created a page whereall of its divisions and brands are represented.Personnel searches are identified by division.Videos are widely used for employmentsearches, with the employees themselvesbeing featured in the videos as they explainthe requirements for the professional figures.According to the words of Giovanni Bossi,C.E.O. of Banca IFIS: “We feel that this createsa long-lasting value for the entire company,conveying what it really means to work for ourGroup in a more complete and direct manner.”The challenge that the Bank has set for itself inthe use of social media is to create long-lastingvalue by listening to the market and seeking itsinvolvement, putting the ability for a reactionto, and adaptation of, its products on the line.Work with usDetails of thesepositions can befound on the websiteand in the Careerssection of theLinkedin page
  • 8. follow us on:0806Whatare“NPL”exactly?The non-performing loans market in Italy isgrowing and has reached a considerable size.It can be studied from various angles: Fromthe demand side, we can identify all thoseoperators willing to purchase or process the“goods”, which are the loans; From the supplyside, we can identify all those subjects thatdisburse loans and then see these turn, forvarious reasons, into non-performing loans.If we analyze the loans themselves, they varydepending on the underlying product and onthe debtor. This allows us to understand howdifficult it is to precisely identify the NPLmarket. In Italy, there is a small number oflocal operators and an ever-growing number offoreign operators with high levels of liquidityand a developing industrial capacity. NPLmeans finance and industry, permanentlyunited, because when one of the two aspects ismissing, profit margins are just a pipe dream.Finance, in relation to the ability to operate onthe acquisitions market, ready to invest hugeamounts of money, that will be tied up long-term, according to the type of assets purchasedand on management skills. Industry, in the ability to enrich the dossiersbought from an information standpoint and toincrease their likelihood of a positive outcome.As often happens in the financial sector, theItalian context is still behind the Anglo-Saxonone. In the United States and the UnitedKingdom, companies are operating in a marketthat does not seem to show any signs of a crisis.One example is the Portfolio RecoveryAssociation, an American company whoseprimary goal is investment in unsecured retailportfolios; since its founding, this companyhas acquired 2,500 portfolios, for a totalof 30 million accounts, managed by 3,000employees, with excellent results (in 2011,it posted proceeds of USD 705 million anda net profit of about USD 100 million). PRAidentifies its ability to convert informationabout loans and debtors into operationalrecovery decisions, describing information as“raw material” and decisions as the “finishedproduct”, as the main reason for its success.We can say that the development of skills inthe dynamic management of loans and inthe workout process will be a critical successfactor and must be accompanied by a portfoliosegmentation aimed at improving the qualityof data and at setting up successful recoverystrategies. And this is most certainly theapproach and the direction that both ToscanaFinanzaandIFISaretaking,withover20yearsofexperience,standingapartthankstotheirabilityto evaluate and purchase significant portfolios.Furthermore, the Group has set up an excellentdatabase containing specific information abouthundreds of thousands of accounts. Today,Toscana Finanza has its place among marketleaders with a business model based on theability to manage both the loans acquisitionand management phases excellently. At thebeginning of the year, important portfolioswere purchased from two large internationalbanking groups, while a third agreement wassigned at the end of June. During the year, theactivity intensely focused on strengthening theprocesses, resources and instruments appliedin the management of loan accounts, whichtotalled 400,000 at the end of the period.by Andrea ClamerHead of the ToscanaFinanza – NPL Division
  • 9. follow us on:0907 Enterprises’WorldEncouraging meetings, exchanges, interactionand conversation means building value. Anddoing it together with other entrepreneurs,speaking out for them and building aconstant dialogue, enhances its outcome.The year that just ended was full of eventsand initiatives that led companies andentrepreneurstomeet,bothviatheInternetandat Villa Furstenberg, the Bank’s headquarters.The calendar of events was especially full inthe last months of the year: first, the meeting“The silent revolution of the markets.... andthe weapons used by enterprises”, organizedin collaboration with the Salone d’Impresa,followed by the “One Day in Venice”, organizedtogether with Centrobanca, and the Project“Veneto & Abruzzo”. The first event provided achancetodiscussandtakeacloselookatconceptssuch as planning, innovation and proactivity,the only “weapons” available to companies asthey attempt to deal with market difficulties.The event “One Day In Venice”, now in its thirdedition, made it possible for 13 companieslisted on the Italian Stock Exchange, alsoknown as Piazza Affari, expression of theentrepreneurial nature of North-Eastern Italyand, specifically, of the Veneto region, to meetwith Italian and international institutionalinvestors. More than 85 meetings werescheduled, double the number of the previousedition, during which investors were able toassess the attractiveness of, in financial terms,and consequently the possibility of investing in,the companies that took part in the meetings(Banca IFIS, CAD IT, Delclima, De’ Longhi,Eurotech, Luxottica, Nice, Save, Servizi ITALIA,Sabaf, Safilo, Stefanel and Zignago Vetro). TheProject “Veneto & Abruzzo”, was dedicatedto the development of the economy andenterprises of the Veneto and Abruzzo regions.The Bank’s desire to put itself on the line andbe there for near the entrepreneurs also wenton the Web. Through a daily activity, it fed theconversation on the Web through initiativestied to social networks and blogs. It will bean intense year, kicked off with the launch ofa new section of the MondoPMI blog, entirelydedicated to interviews with entrepreneursin order to highlight success stories and toshare the entrepreneurs’ stories, choices andjourneys. The publishing collaborations willcontinue with the Bank’s partners. We haveseen that enterpreneurs’ preferred argumentsreferring to bureaucracy, to the search forstability in their work as the safeguard forhealthy growth, to the strength of corporatenetworks in dealing with the competition andto the need for proactivity and innovationsat all levels in order to stay on the market.MondoPMIFor information:www.mondopmi.itThe blog forcompanies
  • 10. follow us on:1008 On the agendaThe upcoming Banca IFIS corporate events ofthe Group include:• from 23 to 27 January Banca IFIS will againtake part in the World Economic Forum, theorganization that brings together the majorpolitical and economic executives, intellectualsandotherinternationalbusinessfiguresinorderto create better conditions at the global level.;• on 8 and 9 February, in Bergamo, BancaIFIS will participate in Assiom Forex’s19th Annual Congress, which representsa chance for an exchange of views, ideasand opinions between finance operatorsand institutions. Bank of Italy’s Governoris scheduled to speak on 9th February;• on 19 and 20 February; Banca IFIS willparticipate in the 6th edition of Frankfurt’sEuropean Midcap Event, where BancaIFIS’s CEO Giovanni Bossi will have theopportunity to have a series of one-to-one meetings with various investors;• from 8 to 10 March, in Cernobbio, will takeplace the meeting “Leader of the Future”, heldduring the workshop “The scenario of thefinancial markets, of their governanceand of finance”. Banca IFIS participates in themeeting, which is held at the same time as theannual workshop wich represents a valuableopportunity to stay up-to-date on economic-financial issues as well as, contemporarityoffering, a chance for networking amongyoungsters who are interested in these topicsor who deal with them in their profession. Justlike in the main workshop, the programme willfeature some of the top experts and managersof the most important economic and financialinstitutions,bothnationalandinternational.
  • 11. follow us on:11Price on 28/12/2012 5,530 €365 day Min-Max Min 3,678 € – Max 5,64 €Number of shares issued 53.811.095Capitalization 297.575.355,35 €1 month performance +2.83%6 month performance +13,03%1 year performance +41,00%Dividend paid 0,250 €/share (07/05/2012)Specialist CentrobancaIn the light of the results the Group achieved in the first nine months of 2012, its shares have increasedin value considerably. This can be seen in the latest financial reports and updates, published by variouscompanies and agencies, such as WEBSIM, Edison e Centrobanca.Banca IFIS’s shares on the stock marketFinancial CalendarSebastian Egon Furstenberg 68,9%In circulation 24,7%Giovanni Bossi 3,4%Riccardo Preve 2,4%Treasury shares 0,6%To be defined.Shareholders’ breakdown31 December 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/BancaIFIShttp://tvchannel.bancaifis.it/Website: http://www.bancaifis.itWebsite of 2011 financial statements:http://bilancio.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_09 Contacts