Banca Ifis

Earnings Release • Jan 20, 2015

TRADE RECEIVABLES

More info at: http://youtu.be/xhr92GFKr5c

• Enterprises financed in the last 90 days of 2014: 4.279 +13,1%
• Some of the main sectors financed: manufacturing; construction; transports; agriculture
• First 10 provinces for financing granted : Milan, Turin, Rome, Catanzaro, Bergamo, Catania, Florence, Palermo, Salerno
• Net result of financial operations: 122,5 mln +50,7%
• Loans: 2.455,0 mln +26,7%

DRL (Distressed Retail Loans)

More info at: http://bit.ly/14QMjum

• Nominal value of the managed portfolio: 5,6 bln +43,9%
• Balance sheet value of the managed portfolio: 135,4 mln +5,8%
• Number of positions held: 775.252
• Net result of financial operations: 31,5 mln +13,1%

TAX RECEIVABLES

• Market leader with a market share > to 50%
• Nominal value of the managed portfolio 167,8 mln
• Balance sheet value of the managed portfolio: 119,5 mln
• Net result of financial operations 11,3 mln +16,3%

More info at: http://bit.ly/1suuueI

Governance & Services (G&S)

• Debt securities portfolio at 31/12/2013: 8.357,9 31/12/2014: 5.068,2 (mln Euro)
• Securities matured in 2014 (nominal value): 3.500,0 mln
• Retail funding at 31/12/2014 3.400,6 mln

More info at: http://bit.ly/1Abttpy

HIGHLIGHTS

(million Euro)

Net profit	95,9	(84,8 at 31/12/2013)	+13,0%
Equity	437,8	(380,3 at 31/12/2013)	+15,1%
Funding	7.742,4	(10.844,1 at 31/12/2013)	-28,6%
Loans	2.814,3	(2.296,9 at 31/12/2013)	+22,5%

GROUP KPIs at 31/12/2014	2014	2013
ROE	23,5%	24,8%
Credit quality cost	145 b.p.	244 b.p.
Book value per share €	8,27	7,21
EPS €	1,81	1,61

NET BANKING INCOME (NBI)

(million Euro)

Trade receivables sector Clients +13,1% vs December ²⁰¹³ Turnover 8,3 bln +45,8%

Trade receivables KPIs	2014	2013
NBI/ Turnover	1,9%	2,3%
NBI/ Loans	8,2%	8,0%

12 months data	Trade receiv.	DRL	Tax receiv.	G&S
2014	155,6	30,0	11,0	84,3
2013	129,7	24,4	9,3	100,8
Change %	19 9% ,	23 2% ,	18 5% ,	-16 4% ,

280,9 (264,2 at 12 months 2013)

+6,3% % change 12 months 2014/2013

NET RESULT OF FINANCIAL OPERATIONS

(Milion Euro)

Net provisions

Equal to 31,3 vs 44,6 in 12

months 2014 vs 2013

249,6	(219,6 at 12 months 2013)
+13,7%	% change 12 months 2014 / 2013

12 months data	Trade receiv.	DRL	Tax receiv.	G&S
2014	122,5	31,5	11,3	84,3
2013	81,3	27,8	9,7	100,8
Change %	50 7% ,	13 1% ,	16 3% ,	-16 3% ,

Group KPIs 12 months	2014	2013
Cost of credit quality	145 bp	244 bp

Cost of credit quality

NET PROFIT

(Milion Euro)

+13,0% % change 2014/2013

Group KPIs 12 months data	2014	2013
Credit quality cost	145 bp	244 bp
Tax rate	33,9%	40,8%

BALANCE SHEET – ASSET STRUCTURE

(million Euro) % change 31.12.2014 vs 31.12.2013

Loans to customers

2.814,3 +22,5%

of which: 2.455,0 trade receiv. 135,4 DRL 119,5 tax receiv. 104,4 g&s

Total assets 8.309,3

Other Financial Assets (AFS + HTM)

5.070,7 -39,3%

Portfolio of Italian government bonds 5.068,2

Due from banks 274,9 -33,9%

61% 33,9% 3,3% 1,8% Financial assets Due from clients Due from banks Other assets

CREDIT QUALITY

(million Euro) % change 31.12.2014 vs 31.12.2013

Loans to customers : 2.455,0 +26,7%

BALANCE SHEET – ASSET STRUCTURE

(million Euro) % change 31.12.2014 vs 31.12.2013

rendimax and contomax 3.314,2	-14,3%	Total funds and deposits
Wholesale funding 2.259,0 due from banks	-66,1%	7.742,4 -28,6% 43,9% 56,1%
Wholesale funding 2.082,8 PCT	+689,9%	retail wholesale

DEBT SECURITIES PORTFOLIO

(million Euro)

	from January to December 2015	from January to December 2016	from January to December 2017	from January to December 2018	Total
Total	2.230,9	752,4	701,5	1.383,4	5.068,2
% on total	44,1%	14,8%	13,8%	27,3%	100,0%

Breakdown	31.12.2014	31.12.2013	% Change
Available for sale financial assets	243,3	2.529,2	-90,4%
Held to maturity financial assets	4.827,4	5.818,0	-17,0%
Receivables due from banks - bonds	11,0	24,0	-54,2%
Total	5.081,7	8.371,2	-39,3%

BANCA IFIS GROUP: EQUITY BREAKDOWN

(million Euro)	EQUITY: CHANGES
	Net equity at 31.12.2013		380,3
		Increases	98,7
		Profit for the period	95,9
		Sell of treasury shares	2,7
		Other changes	0,1
		Decreases	-41,2
		Valuation reserve	-11 0 ,
	-	Exchange differences	-0 9 ,
	Valuation -	AFS reserve	-10,0
		allowance Severance	-0,1
		Dividends	-30,2
	Net equity at 31.12.2014		437,8
	Group KPIs	2014	2013	*Data calcolated on
		31 December*	31 December	different company framework
	Common Equity Tier 1 Ratio (CET1)	13,88%	13,68%
	Tier 1 Capital Ratio	13,98%	13,68%
	Total Own Fund Capital Ratio	14,21%	13,48%