Banca Ifis

Earnings Release • Apr 27, 2016

HIGHLIGHTS

(Million Euro)
Net profit	22,0	(26,2 at 31/03/2015)	-16,0%
Equity	550,2	(573,5 at 31/12/2015)	-4,0%
Funding	3.905,1	(6.150,5 at 31/12/2015)	-36,5%
Loans	3.307,8	(3.437,1 at 31/12/2015)	-3,8%

GROUP KPIs at 31/03/2016	2016	2015
Credit quality cost	87 b.p.	145 b.p.
Book value/share €	10,37	10,78

NET BANKING INCOME (NBI)

(Million Euro)
		Trade receivables sector Clients 4.586 +6,4% vs March 2015
79,4		Turnover 2,4 bln	+10,0%
	(72,6 at 1st quarter 2015)	Trade receivables KPIs	2016	2015
+9,3%	% change 1Q 2016/2015	NBI/ Turnover	1,8%	1,8%

1Q data	Trade receiv.	DRL	Tax receiv.	G&S
2016	41,3	28,7	4,2	5,2
2015	39,3	8,9	3,9	20,5
% Change	5,0%	224,0%	6,4%	-74,7%

NET RESULT OF FINANCIAL OPERATIONS

(Million Euro)

68,3 (65,1 at 1st quarter 2015)

+5,0% % change 1Q 2016/2015

1Q data	Trade receiv.	DRL	Tax receiv.	G&S
2016	36,0	25,9	4,2	2,2
2015	33,8	8,9	4,0	18,4
% Change	6,5%	192,8%	4,9%	-87,9%

1Q 2016 Total Net provisions

Equal to 11,0 vs 7,5 mln in first three months 2016 vs 2015

Net provisions trade receiv.

Equal to 5,3 vs 5,5 mln in the first three months 2016 vs 2015

Group KPIs 1Q	2016	2015
Cost of credit quality	87 bp	145 bp

Cost of credit quality

NET PROFIT

BALANCE SHEET – ASSET STRUCTURE

(Million Euro) % change 31.03.2016 vs 31.12.2015

Loans to customers 3.307,8 -3,8%

of which: 2.763,2 trade receiv. 387,9 DRL 115,4 tax receiv. 41,3 g&s

Total assets 4.662,2

Other Financial Assets (AFS) 1.066,4 -66,9%

Portfolio of Italian bonds 1.064,7

Due from banks

114,7 +20,3%

CREDIT QUALITY

(Million Euro) % change 31.03.2016 vs 31.12.2015

Loans to customers : 2.763,2 -3,0%

% NPLs/Equity

5,6% (31/03/2016) vs 5,4% (31/12/2015)

% Impaired assets / Trade receivables 6,6% (31/03/2016) vs 4,5% (31/12/2015)

BALANCE SHEET – LIABILITIES STRUCTURE

(Million Euro) % change 31.03.2016 vs 31.12.2015

rendimax and contomax 3.355,7	+7,8%		Total funds and deposits
Wholesale funding 182,6 due from banks	-72,5%	3.905,1	-36,5%
Wholesale funding 250,0 PCT	-89,0%

DEBT SECURITIES PORTFOLIO AT 31.03.2016

(Million Euro) Accounting at Fair Value

	By December 2016	from January to December 2017	from January to December 2020	Total
Total	741,2	270,1	53,3	1.064,7
% on total	69,6%	25,4%	5,0%	100%

(Million Euro)

EQUITY: CHANGES
Net equity at 31.12.2015	573,5
Increases	22,2
Profit for the period	22,0
Sell of treasury shares	0,2
Decreases	(45,5)
Dividends	(40,3)
Change of AFS reserve	(5,2)
Net equity at 31.03.2016	550,2

Group KPIs	2016	2015
	31 March	31 December*
Common Equity Tier 1 Ratio (CET1)	13,63%	14,22%
Tier 1 Capital Ratio	14,08%	14,52%
Total Own Fund Capital Ratio	14,67%	14,91%

*Total consolidated own funds (amounting to 486.809 million Euro) differ from the amount reported in the consolidated financial statements at 31 December 2015 (501.809 million Euro) due to the 15 million Euro dividend payout approved by the Shareholders' Meeting of the parent La Scogliera S.p.A. on 23 March 2016. The consolidated supervisory reports at 31 December 2015 as well as the relevant capital adequacy ratios have been restated, already in March 2016, to account for said dividend distribution. The data concerning the consolidated Own Funds and capital adequacy ratios reflects said distribution.

This Presentation may contain written and oral "forward-looking statements", which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of Banca IFIS. (the "Company"). There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit contents of any forward-looking statements and thus, such forward-looking statements are not a reliable indicator of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision.

The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States. This Presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or the Other Countries. Pursuant the consolidated law on financial intermediation of 24 February 1998 (article 154-bis, paragraph 2) Mariacristina Taormina, in her capacity as manager responsible for the preparation of the Company's financial reports, declares that the accounting information contained in this Presentation reflects the Banca IFIS's documented results, financial accounts and accounting records.

Neither the Company nor any member of Banca IFIS nor any of its or their respective representatives, directors or employees accept any liability whatsoever in connection with this Presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.