june, 2002 - united kingdom banca cr firenze group

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June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

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Page 1: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

June, 2002 - United Kingdom

BANCA CR FIRENZE GROUP

Page 2: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

2

Banca CR Firenze Group

Investor Relations*Market share as at Dec. 31, 2001 - Others as at Mar. 31, 2002, Findomestic excluded ** Direct + indirect funding

Group network: 417 branches

Tuscany market share*:

by deposit 15.7%

by loan 12.2%

900,000 customers

Euro 25.8 bln total deposits**

Euro 11.7 bln customer loans

2001 ROE : 11.3% (13.7% adj)

Sanpaolo IMI19%

BNP Paribas7%

Others6%

Market26%

Ente CR Firenze

42%

Strong regional presence

Important leading partners

SHAREHOLDERS’ AGREEMENT

CR Firenze Foundation 22%

Sanpaolo IMI 15%

BNP Paribas 7%

44%

Banca CR FIRENZE Group - Highlights

Page 3: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

3

Banca CR Firenze Group

Investor Relations

BUSINESS MODEL

Infogroup Datacentro

Centro

Telemktg.Citylife

Perseo

FinancePro.Du.Ser.

CR PISTOIA

e PESCIACR ORVIETO CR MIRANDOLA

CR

CIVITAVECCHIA

FindomesticLiberamente

Network

Product Companies Service Companies

Consumer Credit Financial Planners

BANCA CR FIRENZE(Parent Company)

Specialized units by Sanpaolo IMI and BNP Paribas

EptaconsorsArval

Italia

Centrovita

Centro

Leasing

Centro

Factoring

Cerit

CR Firenze

Gest. Int.le

Page 4: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

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Banca CR Firenze Group

Investor Relations

INCOME SOURCES

Commercial banking

Lending

Asset management

Group integration

Strategic investments

Consumer credit

Stock performance

High diversification helps the Group to cope with a turbulent environment

48.8%

30.0%

20.7%

0.5%

Commercialbanking

Consumercredit

Productcompanies

Servicecompanies

Contribution to

the net income

*As at Mar. 31, 2002

Page 5: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

5

Banca CR Firenze Group

Investor Relations

2.70%

1.70% 1.65%

1.10%

2.20%

42%

48%52% 53.6% 54.8%

1999 2000 2001 1Q 2002

7.6

10.911.5 11.7

1999 2000 PF 2001 1Q 2002

Customer loans

Euro bln

Net NPL ratio Coverage ratio

1Q 2002 after deconsolidation of CFT

Finanziaria

LENDING

Steady growth coupled with improving quality

Page 6: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

6

Banca CR Firenze Group

Investor Relations

75.0%

71.7%71.2%

74.0%

75.4%

71.6%

Dec.2000

1Q 2Q 3Q Dec.2001

1Q

5 – 4 – 3 rating as % of performing loans

5 – Excellent 38.7%

Loans by rating*

4 – Good 15.5%3 – Acceptable

20.8 %2 – Risky

22.4%1 – Critical

2.6%

*CRF Group as at Mar. 31, 2002 (non-financials and family companies), Findomestic excluded

LENDING - Asset quality

The Internal Rating System proved to be effective and reliable in monitoring credit

quality

Page 7: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

7

Banca CR Firenze Group

Investor Relations

1,353

1,840

2,104

2Q 2001 Dec. 2001 1Q 2002

CR FIRENZE Gestion International:the proprietary mutual fund factory

Since April 2001 Luxembourg based

Umbrella Fund 35 sub-funds

Euro mln

High quality multibrand products

Discretional Accs.

Mutual Fund Dis. Accs.

Mutual Funds

Insurance Products

Asset under

management

ASSET MANAGEMENT - 2

Page 8: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

8

Banca CR Firenze Group

Investor Relations

Equity funds24.5%

Bond funds72.5%

Balanced funds3.0%

AUM / Indirect funding ratio at 56.6% Defensive composition of mutual fund

portfolio

Immediate switch to equity funds as the market recovers

Mutual funds by categoryAUM stock at market value

Dec.2000

1Q 2Q 3Q Dec.2001

1Q

NET INFLOWS

+ 20.0 %

Euro mln

7,000

AUM net inflows

ASSET MANAGEMENT

Strong commitment to improve AUM revenues

As at Mar. 31, 2002

Page 9: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

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Banca CR Firenze Group

Investor Relations

138

25

189

39

251

39

1999 2000 2001

18.0%21.0%

16.0%

Shareholdings book value

Shareholdings profit

Return on main shareholdings

*As at Dec. 31, 2002

Capital has been allocated in companies focused on a specific business

Each company developed as market leader

Capital allocation

STRATEGIC INVESTMENTS

Centro Factoring - Factoring

Centro Leasing - Leasing

Arval Service Lease - Vehicle leasing

Centrovita Assicurazioni - InsuranceFindomestic Banca - Consumer credit

Eptaconsors - Asset management

CR Firenze Gestion Int.le - Asset management

Euro mln

Page 10: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

10

Banca CR Firenze Group

Investor Relations

15% 7%

43%35%

50%

50%

Sept. 1984 - The beginning of the JV with Cetelem S.A. and Banco di Sardegna

June 2001 - Shareholders agreement between C.R. Firenze and Cetelem S.A. in order to exercise joint control over the Company

Sept. 2001 - B. di Sardegna resolved to accept the offer from C. R. Firenze and Cetelem.

22%

43%35%

C.R. Firenze Group

Cetelem

BNP Paribas Group

Banco Sardegna

FINDOMESTIC BANCA - Shareholding

Page 11: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

11

Banca CR Firenze Group

Investor Relations

11

Market share:

by transaction 29%

by volume 13%

2001 ROE : 23.3%

3,600,000 customer database

94 Customer Service Centers

Over 65,000 affiliated stores

1,536 employees

S & P rating : ST A2 LT A-

Trentino Alto Adige

Friuli V. Giulia

Veneto

Emilia Romagna

Marche

UmbriaAbruzzo

Molise

Puglia

BasilicataCalabria

Sicilia

SardegnaCampania

Lazio

Toscana

Liguria

Piemonte

Valle d’Aosta

Lombardia

* As at Dec. 31, 2001

FINDOMESTIC BANCA - Highlights

Widespread distribution

High market penetration*

Page 12: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

12

Banca CR Firenze Group

Investor Relations

29%

26%21%

24%

Source: Assofin - As at Dec. 31, 2001

Findomestic 3.66

Fiatsava 3.13Deutsche Bank 2.01AgosItafinco (Intesa) 1.74Finemiro (Cardine) 1.70

Fiditalia (SocGen) 1.56

Compass 1.23

Euro billion

Revolving cardsPersonal loans

Home Appliances Vehicle financing

THE CONSUMER CREDIT LEADER

BPLDucato 1.22

Citifin 1.09Finconsumo 1.01

IntesaBci (Comit network) 1.67

Business segmentation

Page 13: June, 2002 - United Kingdom BANCA CR FIRENZE GROUP

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Banca CR Firenze Group

Investor RelationsSource : Assofin and Findomestic *As % of outstanding credits-

16%

29%30%29%

35%

15%

23%21%

18%33%

1997 1998 1999 2000 2001

Italy, new business (yoy %)

Findomestic, new business (yoy %)

1998 1.22%1999 1.15%2000 1.00%2001 0.95%

NPL ratio*

1997 1.39%

System average : 2 %

THE CONSUMER CREDIT LEADER - 2

Outperforming growth and steady reduction of credit losses