Banca Ifis

Investor Presentation • Jul 28, 2016

HIGHLIGHTS

(Million Euro)
----------------

Net profit	39,1	(130,8 at 30/06/2015)	-70,1%
Equity	562,2	(573,5 at 31/12/2015)	-2,0%
Funding	3.971,8	(6.150,5 at 31/12/2015)	-35,4%
Loans	3.356,0	(3.437,1 at 31/12/2015)	-2,4%

GROUP KPIs at 30/06/2016	1 H 2016	1 H 2015
Credit quality cost	78 b.p.	112b.p.
Book value/share €	10,59	9,88

NET BANKING INCOME (NBI)

(Million Euro)

150,9 (265,4 at 1st half 2015)			Trade receivables sector Clients 4.879 +12,3% vs 1H 2015 Turnover 5,0 bln +7,5%
-43,1%		% change 1H 2016/2015			Trade receivables KPIs	1 H 2016	1 H 2015
+7,1% excl. 124,5 m Euro plusvalue		from govies	sale in April 2015		NBI/ Turnover	1,6%	1,7%
1H data	Trade receiv.	DRL	Tax receiv.	G&S	60,0% 53,9% 50,0% 40,5% 40,0% 30,0%	Breakdown NBI 1H 2016	Trade receiv.
2016	81,4	61,1	8,0	0,4	20,0%		DRL Tax receiv.
2015	77,3	20,2	7,5	160,4	10,0% 0,0%	5,3% 0,3%	G&S
% Change	5,3%	202,8%	6,7%	-99,8%	Trade DRL receiv.	Tax G&S receiv.

NET RESULT OF FINANCIAL OPERATIONS

(Million Euro)

135,2 (247,8 at 1 st half 2015) -45,4% % change 1H 2016/2015

+9,6% excl. 124,5 m Euro plusvalue from govies sale in April 2015

1H data	Trade receiv.	DRL	Tax receiv.	G&S
2016	69,8	61,1	7,8	-3,6
2015	63,8	20,2	7,5	156,2
% Change	9,4%	202,8%	4,0%	-102,3%

1H 2016 Total Net provisions

Equal to 15,8 vs 17,7 mln in first half 2016 vs 2015

Net provisions trade receiv.

Equal to 11,6 vs 13,4 mln in the first half 2016 vs 2015

Group KPIs	1 H	1 H
1H	2016	2015
Cost of credit quality	78 bp	112 bp

Cost of credit quality

NET PROFIT

BALANCE SHEET – ASSET STRUCTURE

(Million Euro) % change 30.06.2016 vs 31.12.2015

Loans to customers 3.356,0 -2,4%

of which: 2.758,8 Trade receiv. 482,0 DRL 109,9 Tax receiv. 5,4 G&S

Total assets 4.743,2

Other Financial Assets (AFS)

1.027,8 -68,1%

Portfolio of Italian bonds 1.026,9

Due from banks

153,9 +61,4%

21,7% 70,8% 3,2% 4,3% Financial assets Due from clients Due from banks Other assets

CREDIT QUALITY

(Million Euro) % change 30.06.2016 vs 31.12.2015

Loans to customers : 2.758,8 -3,1%

BALANCE SHEET – LIABILITIES STRUCTURE

(Million Euro) % change 30.06.2016 vs 31.12.2015

rendimax 3.550,4	and contomax		+14,0%	Total funds	and deposits
43,6	Wholesale funding due from banks		-93,4%	3.971,8	-35,4%
0	Wholesale funding PCT	-100%

DEBT SECURITIES PORTFOLIO AT 30.06.2016

(Million Euro) Accounting at Fair Value

	By December 2016	from January to December 2017	from January to December 2020	Total
Total	703,4	270,5	53,0	1.026,9
% on total	68,5%	26,3%	5,2%	100%

(Million Euro)

EQUITY: CHANGES
Net equity at 31.12.2015		573,5
	Increases	39,4
	Profit for the period	39,1
	0,3
	(50,7)
	(40,3)
Change	of AFS reserve	(8,9)
	Forex changes	(1,3)
	(0,2)
Net equity at 30.06.2016	562,2
Banca IFIS only KPIs	2015
	30 June	31/12
Common Equity Tier 1 Ratio (CET1)	15,42%	15,78%
Tier 1 Capital Ratio	15,42%	15,78%
Total Own Fund Capital Ratio	15,42%	15,78%

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.