june, 2002 - united kingdom banca cr firenze group
TRANSCRIPT
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
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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
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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
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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
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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
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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
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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
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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
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
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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*
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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
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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