First quarter 2014 results

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First quarter 2014 results

  1. 1. 1
  2. 2. 2 Highlights Net Profit 24,7 (22,5 in 1 Q 2013) +9,9% Equity 405,4 (380,3 at 31/12/2012) + 6,6% Funding 9.960,1 (10.844,1 at 31/12/2012) -8,2% Group KPI 1Q Data 2014 2013 Credit quality cost 2,0% 3,4% Cost/income ratio 33,6% 26,5% Book value per share € 7,66 6,28 (Milion Euro)
  3. 3. 3 Trade receivables sector Clients+6,5% Turnover 1,655 mld +36,6% Trade Receivables KPI 1Q data 2014 2013 NBI/ Turnover 2,3% 2,4% NBI/ Loans 8,4% 7,4% 1 Q data Trade Receiv. DRL Tax Receiv. G&S 2013 28,7 7,4 3,1 27,6 2014 37,5 6,6 2,2 23,1 Change % Change 30,6% (10,7)% (31,3)% (16,3)% NET BANKING INCOME 69,4 (66,9 in 1 Q 2014) +3,7% % Change 1 Q 2014/2013 (Million Euro) 54% 10% 3% 33% NBI 2013 Breakdown Trade Rec. DRL Tax Rec. G&S
  4. 4. 4 Net provisions Equal to 8,4 vs 13,7 in 1Q 2014 vs 2013 Group KPI 1Q data 2014 2013 Credit quality cost 2,0% 3,4% NET RESULT OF FINANCIAL OPERATIONS (Million Euro) 61,0 (53,1 in 1Q 2014) +14,7% % Change 1Q 2014 / 2013 0,0% 0,5% 1,0% 1,5% 2,0% 2,5% 3,0% 3,5% Credit quality cost 1 Q data Trade Receiv. DRL Tax Receiv. G&S 2013 15,4 6,6 3,4 27,6 2014 28,3 7,2 2,3 23,1 Change % Change 83,6% 9,4% (34,5)% (16,3)%
  5. 5. 5 Group KPI 1Q data 2014 2013 Credit Quality Cost 2,0% 3,4% Cost/Income ratio 33,6% 26,5% Tax Rate 34,5% 36,6% NET PROFIT (Million Euro) 24,7 (22,4 in 1Q 2014) +9,9% % Change 2014 / 2013 NBI Provisions Operating Costs Taxes Net Profit 69,4 8,4 23,3 13,0 24,7
  6. 6. 6 BALANCE SHEET – ASSET STRUCTURE (Million Euro) % Change 31.3.2014 vs 31.12.2013 Total assets 10.515,5 Due from banks 432,9 +4,1% Other Financial Assets (AFS + HTM) 7.617,4 -8,7% Loans to customers 2.339,7 +1,9% of which 1.908,2 Trade receivables 128,5 DRL 101,5 Tax receivables Italian Government bond portfolio 7.623,6 73% 22% 4% 1% Financial assets Due from clients Due from banks Other assets
  7. 7. 7 CREDIT QUALITY Loans to customers: 1.908,2 (Million Euro) % Change 31.3.2014 vs 31.12.2013 % Net NPLs / Total trade receivables loans 2,4% (1Q2014) vs 2,6% (31/12/2013) % Net Substandard / Total Loans 3,4% (1Q2014) vs 3,2% (31/12/2013) % Net Impaired assets / Total loans 8,3% (1Q2014) vs 8,4% (31/12/2013) 0 10 20 30 40 50 60 70 Net NPL Net Substandard Rescheduled Overdue 2013 1Q20142013 1Q 2014 2013 1Q 2014 2013 2013 1Q 2014 1Q 2014 NPL Coverage ratio 80,6%
  8. 8. 8 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 1Q2014 Loans NPL/Loans Substandard/Loans
  9. 9. 9 DEBT SECURITIES PORTFOLIO up to end 2014 from 1/1/2015 to 31/12/2015 from 1/1/2016 to 31/12/2016 from 2017 to 2018 Total Total 2.555,8 2.215,6 765,0 2,087,1 7.623,6 % on total 33,5% 29,1% 10,0% 27,4% 100,0% (Million of Euro) Breakdown 31.3.2014 31.12.2013 Change % AFS 2.275,1 2.515,8 -9,6% HTM 5.329,4 5.818,0 -8,4% Receivables due from banks -bonds 19,0 24,0 -20,8% Total 7.623,6 8.357,9 -8,8%
  10. 10. 10 rendimax & contomax 3.947,2 +2,0% Total funds 10.844,1 +41,3% Wholesale funding 5.329,7 PCT 1.921,4 Repurchase agreements with underlying government bonds and Cassa di Compensazione e Garanzia as counterparty Wholesale funding 618,1 due to banks -90,7% BALANCE SHEET – FUNDING STRUCTURE (Million Euro) % change 31.3.2014 vs 31.12.2013 40% 60% retail wholesale
  11. 11. 11 BANCA IFIS GROUP: EQUITY BREAKDOWN (Million of Euro) EQUITY : CHANGES NET EQUITY AT 31.12.2013 380,3 Increases: 27,1 Profit for the period 24,7 Sale of treasury shares 2,4 Decreases: -2,0 Change valuation reserve: -2.0 - Currency changes -0,1 -Change valuation reserve -1,9 NET EQUITY AT 31.3.2014 405,4 Group KPI 1Q Data 2014 2013 March, 31* December, 31 Common Equity Tier 1 Ratio (CET1) 14,97% 13,68% Tier 1 Capital Ratio 14,97% 13,68% Total Own Fund Capital Ratio 14,97% 13,48% *Data calcolated on different company framework

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