Banca Ifis

Earnings Release • Apr 28, 2015

HIGHLIGHTS

(Million Euro)

Net profit	26,2	(24,7 at 31/03/2014)	+6,3%
Equity	571,9	(437,8 at 31/12/2014)	+30,6%
Funding	7.442,3	(7.742,4 at 31/12/2014)	-3,9%
Loans	2.921,9	(2.814,3 at 31/12/2014)	+3,8%

GROUP KPIs at 31/03/2015	2015	2014
Credit quality cost	119 b.p.	200 b.p.
Book value/share €	10,78	8,27

NET BANKING INCOME (NBI)

(Million Euro)
		Trade receivables sector
		Clients +8,8% vs March 2014
		Turnover 2,1 bln +29,4%
71,2	(69,4 at 1st quarter 2014)	Trade receivables KPIs	2015	2014
+2,6%	% change 1Q 2015/2014	NBI/ Turnover	1,8%	2,3%
		NBI/ Loans	7,8%	8,4%

1Q data	Trade receiv.	DRL	Tax receiv.	G&S
2015	39,3	7,4	3,9	20,5
2014	37,5	6,6	2,2	23,1
% Change	5,0%	12,5%	80,3%	-11,3%

NET RESULT OF FINANCIAL OPERATIONS

(Million Euro)
					1 Q 2015 Net provisions Equal to 6,0 vs 8,4 mln in first three
65,1		(61,0 at 1st	quarter 2014)		months 2015 vs 2014
+6,8%			% change 1Q 2015/2014		Group KPIs 1 Q	2015	2014
					Cost of credit quality	119 bp	200 bp
1Q data	Trade receiv.	DRL	Tax receiv.	G&S		Cost of credit quality
2015	33,8	8,9	4,0	18,5	3,5% 3,0% 2,5%
2014	28,3	7,2	2,3	23,1	2,0% 1,5%
% Change	19,3%	22,3%	75,1%	-20,1%	1,0% 0,5% 0,0% 2010	2011 2012 2013	2014 2015 1Q

NET PROFIT

(Million Euro)

BALANCE SHEET – ASSET STRUCTURE

(Million Euro) % change 31.03.2015 vs 31.12.2014

Loans to customers 2.921,9 +3,8%

of which: 2.491,3 trade receiv. 149,0 DRL 123,8 tax receiv. 157,8 g&s

Total assets 8.242,6

Other Financial Assets (AFS) 5.069,8 +1.983,5%

Portfolio of Italian bonds 5.066,7

Due from banks 115,7 -57,9%

CREDIT QUALITY

(Million Euro) % change 31.03.2015 vs 31.12.2014

Loans to customers : 2.491,3 +1,5%

Bad Loans Unlikely to pay Past-due exposures

2015

2014

2015 2014

NPL Coverage ratio 86,6% at March 2015 Vs 86,4% at December 2014 2015 2014

% NPLs / total trade receivables 1,3% (31/03/2015) vs 1,3% (31/12/2014)

% NPLs/Equity 19,5% (31/03/2015) vs 25,7% (31/12/2014)

% Impaired assets / Trade receivables 4,5% (31/03/2015) vs 4,6% (31/12/2014)

2015

2014

Net figures

0

10

20

30

40

50

BALANCE SHEET – ASSET STRUCTURE

(Million Euro) % change 31.03.2015 vs 31.12.2014

rendimax and contomax 3.071,9	-7,3%	Total funds and deposits
Wholesale funding 201,0 due from banks	-91,1%	7.442,4	-3,9%
Wholesale funding 4.097,7 PCT	+96,7%

DEBT SECURITIES PORTFOLIO

(Million Euro) Accounting at Fair Value

	By December 2015	from January to December 2016	from January to December 2017	from January to December 2018	Total
Total	2.076,0	777,1	736,3	1477,3	5.066,7
% on total	41,0%	15,3%	14,5%	29,2%	100%

(Million Euro) Nominal Value

• In the last few days the bank restructured the Government bond portfolio
• It has realized around 120 Million euro gain before taxes
• It has recomposed a portfolio of the same amount but up to 2020

	By December 2015	from January to December 2016	from January To December 2017	from January to December 2018	from January to December 2019	from January to December 2020	Total
Totale	2.013,0	735,5		- 1.280,0	650,0	190,0	4.868,5
% sul totale	41,3%	15,1%	0,0%	26,3%	13,4%	3,9%	100%

BANCA IFIS GROUP: EQUITY BREAKDOWN

(Million Euro)

EQUITY: CHANGES
Net equity at 31.12.2014	437,8
Increases	134,1
Profit for the period	26,2
Sell of treasury shares	2,5
Valuation reserve	105,3
Other changes	0,1
Net equity at 31.03.2015	571,9

Group KPIs	2015	2014
	31 March	31 December
Common Equity Tier 1 Ratio (CET1)	13,94%	13,89%
Tier 1 Capital Ratio	14,23%	13,98%
Total Own Fund Capital Ratio	14,62%	14,21%