Banca Sistema S.p.A. · MIL:BST
Banca Sistema — Q1 2017 Earnings Presentation
14 slides from Banca Sistema's earnings presentation, Apr 28, 2017
Slide 1: 1Q 2017 Results
BANCA SISTEMA SPECIALTY FINANCE 1Q 2017 RESULTS 28 April 2017
Slide 2: 1Q 2017 Results at a Glance
1Q 2017 Results at a Glance Net Income at €4.4m including yearly contribution to the National Resolution Fund €12.4m NII, influenced y/y by lower factoring turnover of 4Q 2016 vs 4Q 2015 and by an earlier than expected collection of a receivables in 1Q 2016 P&L Total operating costs +4%, y/y in line
Slide 3: Core business assets outstanding
Core business assets outstanding Factoring outstanding CQS/CQP Loans outstanding €m €m Purchases from +18% 5 originators, 313 1,103 7 from May 2017 266 1,020 1,039 120 31.03.2016 31.12.2016 31.03.2017 31.12.2015 31.12.2016 31.03.2017 Ex. Beta Stepstone Outstanding breakdown (31.03.2017) Outstanding
Slide 4: 1Q 2017 – Income Statement
1Q 2017 – Income Statement Figures in millions of euro 31.03.2016 31.03.2017 Excluding Difference % Factoring contribution to NII Beta Stepstone represents 79% of the total Net interest income 12.4 16.1 -23% 1Q 2017 NII includes €3.1m of Net fee a nd commis s ion i ncome 2.2 2.3 -6% factoring LPIs f
Slide 5: 1Q 2017 – Balance Sheet
1Q 2017 – Balance Sheet Figures in millions of euro Govies’ portfolio (€649m) up q/q following the 31.03.2017 31.12.2016 Difference % purchased of €84m of Italian ‘BTP’ with an average duration < 3 years, classified as Held To Maturity and a ASSETS slightly higher AFS ptf (€565m) with an average res
Slide 6: Focus on Factoring
Focus on Factoring Factoring Outstanding Evolution Outstading trend influenced by: €m Ordinary Collection Legal Collection Quarterly turnover, strong volume in March 1,103 2017 1,020 976 228 307 the portion of the outstanding in Legal 224 Collection (y/y and q/q) Target Yield in line with expectatio
Slide 7: Costs in line with expectations
Costs in line with expectations Administrative Expenses, Net Provisions for Operating Costs Personnel Expenses risk, Servicing Costs, Other and D&A €m FTEs (#) 130 144 +4% 8.9 9.2 5.3 4.9 4.3 3.6 4.0 4.5 1.3 0.4 1Q 2016 1Q 2017 1 1Q 2016 1Q 2017 1Q 2016 1Q 22017 Servicing Costs Other Costs Operating
Slide 8: Stable funding cost with slightly higher Retail funding stock
Stable funding cost with slightly higher Retail funding stock Total Funding Breakdown Core Business Funding Breakdown • Term Deposits stock is Core Funding Cost up q/q, due to higher 2.0% 1.2% 1.2% rates offered to 71% customers since mid- 61% 62% October. Although Retail average cost was Wholesale
Slide 9: Conservative risk policy in all the business lines
Conservative risk policy in all the business lines Gross Non Performing Loans Net Non Performing Loans €m 144.1 127.8 123.8 40.6 107.3 30.5 92.5 35.2 84.3 23.0 17.7 13.2 23.4 20.2 16.1 16.2 4.7 4.0 85.8 84.1 64.4 68.3 64.2 68.2 31.03.2016 31.12.2016 31.03.2017 31.03.2016 31.12.2016 31.03.2017 Past-d
Slide 10: Regulatory Capital
Regulatory Capital CET1 and Total Capital(1) RWA breakdown q/q increase due to €m €m CET1 Total Capital Operational Risk & Market Risk(2) Credit Risk purchases of CQS/CQP Loans, Past-dues trend and 16.6% Turnover of Recourse TC Ratio 15.8% Factoring 1Q 2017: 12.6% 141.8 €14m TIER II 854.0 CET1 Ratio
Slide 11: Appendix
Appendix
Slide 12: Factoring Turnover
Factoring Turnover Factoring Turnover €m +21% +19% including 408 Turnover generated by agreements Beta in 1Q 2016 with Italian Retail banks: 336 28% of 1Q 2017 (13.5% FY 2016) 271 1Q 2015 1Q 2016 1Q 2017 Ex. Beta Stepstone 1Q 2017 Factoring Turnover breakdown By Type By Year of Customer’s Customer C
Slide 13: Disclaimer
Disclaimer The distribution of this presentation in other jurisdictions may be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of, and observe, these restrictions. To the fullest extent permitted by applicable law, the companie
Slide 14: Head of Investor Relations
Carlo Di Pierro Head of Investor Relations [email protected] +39 02 80280358 +39 3355288794