2013 Annual Results

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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

Published in: Economy & Finance
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2013 Annual Results

  1. 1. 1
  2. 2. Highlights (Milion Euro) 84,8 380,3 10.844,1 Net Profit Equity Funding Group KPI ROE (78,1 in 2012) +8,5% (309,0 at 31/12/2012) (7.676,3 at 31/12/2012) 2013 + 23,1% + 41,3% 2012 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 2
  3. 3. NET BANKING INCOME (Million Euro) Trade receivables sector Clients+5% 264,2 Turnover 5,7 mld +15,4% Trade Receivables KPI % Change 2013/2012 NBI/ Turnover 2,3% 2,3% NBI/ Loans +7,9% (244,9 in 2012) 6,7% 6,5% 2013 2012 NBI 2013Breakdown 12 months data Trade Receiv. Tax Receiv. DRL G&S 2012 114,3 18,6 3,8 108,3 2013 129,7 24,4 9,3 49% 38% 100,8 G&S Tax Rec. DRL Trade Rec. Change % Change 15,4 5,8 5,5 (7,5) 13,5% 31,2% 145,1% 4% 9% (6,9)% 3
  4. 4. NET RESULT OF FINANCIAL OPERATIONS (Million Euro) Net provisions Equal to 44,6 vs 53,7 in 2013 vs 2012 219,6 (191,2 in 2012) +14,9% % Change 2013 / 2012 2012 Trade Receiv. 69,2 DRL 16,6 Tax Receiv. 3,5 2013 2012 Credit quality cost 12 months data Group KPI 2,4% 3,0% G&S Credit quality cost 101,9 3,5% 3,0% 2013 81,3 27,8 9,7 100,8 Change 12,1 11,2 6,2 (1,1) 17,5% 67,3% 179,1% (1,1%) 2,5% 2,0% % Change 1,5% 1,0% 0,5% 0,0% 2009 2010 2011 2012 2013 4
  5. 5. NET PROFIT (Million Euro) 84,8 (78,2 in 2012) Group KPI +8,5% 2013 2012 % Change 2013 / 2012 Credit Quality Cost Cost/Income ratio 44,6 3,0% 28,9% 27,9% Tax Rate 264,2 2,4% 40,8% 36,4% 76,4 58,4 84,8 7,9 tax impact of The Stability Law NBI Provisions Operating Costs Taxes Net Profit 5
  6. 6. BALANCE SHEET – ASSET STRUCTURE (Million Euro) % Change 2013 vs 2012 Loans to customers of which 2.296,9 +0,8% 1.938,4 Trade receivables 127,9 DRL 90,2 Tax receivables Other Financial Assets (AFS + HTM) 8.347,2 +63,8% Italian Government bond portfolio 8.357,9 Total assets 11,337.8 4% 2% 20% 74% Due from banks 415,8 Financial assets - 23,8% Due from clients Due from banks Other assets 6
  7. 7. CREDIT QUALITY (Million Euro) % Change 2013 vs 2012 Loans to customers: 1.938,4 2012 140 2012 120 100 2012 80 60 2013 2013 2013 2013 2012 40 2013 20 2012 0 Net NPL Net Substandard Rescheduled Overdue Consolidated % Net NPLs / Total trade receivables loans 2,6% vs 4,3% % Net NPLs/ Total trade receivables loan 5,1% vs 5,0% % Net Substandard / Total Loans 3,2% vs 7,7% % Net Substandard /Total Loans 5,4% vs 8,9% % Net Impaired assets / Total loans 8,4% vs 18,9% % Net Impaired assets /Total loans 12,7% vs 19,2% 7
  8. 8. Loans , NPLs, Substandard trends in Trade Receivables Segment 12,00% 2.000.000 10,00% 1.500.000 8,00% 6,00% 1.000.000 4,00% 500.000 2,00% - 0,00% 2002 2003 2004 2005 LOANS 2006 2007 NPL/ LOANS 2008 2009 2010 2011 2012 2013 SUBSTANDARD/LOANS 8
  9. 9. DEBT SECURITIES PORTFOLIO (Million of Euro) up to 3 months Total 998,7 % on total 11,9% from over from over from over from over 3 months 6 months 1 year to 2 2 to 5 Total to 6 to 1 year years years months 1.232,6 1.311,2 8.357,9 1.979,4 2.835,9 14,7% 15,7% 100,0% 23,7% 34,0% Breakdown AFS HTM Receivables due from banks -bonds Total 31.12.2013 31.12.2012 % Change 2.515,8 5.818,0 24,0 8.357,9 1.961,6 3.120,4 58,1 5.140,1 28,3% 86,4% (58,7)% 62,6% 9
  10. 10. BALANCE SHEET – FUNDING STRUCTURE (Million Euro) % change 31.12.2013 vs 31.12.2012 rendimax & contomax 3.868,1 Total funds +27,0% 10.844,1 +41,3% Wholesale funding 6.665,8 due to banks +1096,0% 36% 64% Wholesale funding 263,7 PCT Repurchase agreements with underlying government bonds and Cassa di Compensazione e Garanzia as counterparty retail wholesale 10
  11. 11. 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 11

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