newsletter banca ifis group 7
TRANSCRIPT
01_Editorial: From reputation to
reputational risk by Kristian Tomasini
02_Banca IFIS, growing earnings and profitability
in first six months of 2013. Prospects for
the second half of 2013 are positive
03_Contact, innovation, dialogue: it’s
Credi Impresa Futuro, new service for
Enterprises from Banca IFIS
04_The 2nd NPL Meeting:
the International workshop
on the Non Performing Loans sector
05_Success for the first Credit Storming,
digital lab on the theme of Innovation
in the credit world
_New methods of communication for the
Bank: the visual works of Laura Bortoloni
06_Initiatives: on twitter #CapireBorsa
and on the blog SalvaRisparmio
(with a new look) Savings Dictionary
07_Giovani Leoni:
new growing talents
08_Careers: job opportunities
09_In Agenda
10_Contacs
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013Newsletter 7
I N T E R N A T I O N A L W O R K S H O PO N T H E N O N - P E R F O R M I N G L O A N S S E C T O R
30 September 2013_Quarterly newsletter
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01 Editorial:From reputation to reputational riskby Kristian Tomasini
Kristian Tomasini,
Chief Risk Manager
Gruppo Banca IFIS.
Several scandals have hit the financial sector
in recent years, creating a generalized decline
in trust, attested to by ample market research
conducted by prestigious research institutes.
Research by the Reputational Institute for
example, shows a decline of around 4% in the
reputational index from 2012 to 2013.
What does “reputation” mean and to what risks
does it expose us?
Most likely, if a person were asked to define the
word “reputation” they would think back to a
situation that had caused embarrassment and/or
created some form of “image damage”, that is;
each of us has our own personal interpretation.
The centre for reputation studies (CeSaR)
gives the following definition: “Reputation is
an overall judgement on an organization, given
by those who, directly or indirectly, influence the
work (stakeholders).”
What, then, can influence this judgement?
The trust that a person puts in an organization
is one of the key elements that can help build
long-lasting relationships and it therefore
forms the foundations of “ecological” business.
CeSaR defines this trust as “the long-term
reputational component on which it is possible
to build stable relationships with stakeholders”
Emotional Involvement: it can easily be
imagined how difficult it is to create reputation
in conditions of social anxiety; the economic
context of a country influences the public
perception of companies and their ability to
respond to needs. Hence it becomes essential
to prove, with facts, the value of the alternative
approach taken by Banca IFIS as opposed to that
of the general financial environment.
Reputational risk is meant as a negative
perception of a bank’s image that can affect its
ability to maintain or develop its business.
This risk has, in recent years, become an aspect
about which brokers are particularly sensitive,
so much so that it has been dealt with at a
Fig. 01 - Emotional involvement
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Fig. 02 - Exposure: social media and risk
prudential supervision regulation level.
The measurement of risk, which can occur through
qualitative or quantitative methodologies, presents
obvious difficulties due to its nature. Identifying
economic or financial losses related to reputation
is a difficult process which can, however, be traced
to a decline in market share, reduction in brand
value, the loss of strategic relationships with
partners and suppliers, difficulty in recruiting and
retaining talent, rating agency downgrading etc…
One factor that can amplify the consequences
of risk is visibility: not all events that contain
potential risk result in crisis if they are not
accompanied by a “sounding board”. In this
regard, attention must be paid to how, in the last
decade, the use of innovative communication
tools such as the Internet, social media and
blogs has increased this risk.
The process of risk management can be thought
of as divided into two essential situations:
• Minimization of cases through actions aimed
at reducing the probability of the occurrence of
events that worsen reputation.
• Minimization of damage through mitigation
actions.
Banca IFIS, in the specific activity of the recovery
of non-performing loans, has adopted a series of
rules aimed at mitigating risk ex-ante, ranging
from the creation of the CrediFamiglia brand
to the initiation of ad hoc training programs.
It also provides ex-post monitoring aimed both at
assessing conduct during the recovery process
and the resulting image of the bank, and of
monitoring grievances/complaints received,
making sure to perform checks on the quality of
information provided.
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02 Banca IFIS, growing earnings and profitability in first six months of 2013Prospects for the second half of 2013 are positive
Giovanni Bossi,
C.E.O. Gruppo Banca IFIS.
The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien von Furstenberg
and approved the results for the first half of 2013.
“With its excellent results for the first half of
the year, Banca IFIS confirms the soundness,
sustainability and profitability of its business
model. Increasing profit margins, continually
falling operating costs and decreasing
impaired assets bolster the Group’s position to
grow in the future” says the Chief Executive
Officer Giovanni Bossi, adding: “households
and businesses continue to be the pillars of
our daily work. We are committed to building
The first half (1 January-30 June 2013):
The second quarter (1 April-30 June 2013):
• Net banking income amounting to 65 million Euro (+18,2%).
• Net profit from financial activities increasing by 14,0% to 52 million Euro.
• Net profit amounting to 21,6 million Euro (+19,6%).
new confidence in Italy’s economy, and this is
why we have launched two new projects we
strongly believe in: CrediFamiglia and Credi
Impresa Futuro.”
The Group’s prospects for the second half of
2013 are positive. Operations in support of
businesses could be positively influenced
by both the opportunities to acquire new
customers and new loans, which will be a focus
for the bank in the second half of the year,
• Net banking income increasing by 22,7% to 132 million Euro.
• Net profit from financial activities increasing by 14% to 105 million Euro.
• Cost/income ratio further improving, down to 28,1% from 32,2%.
• Profit for the period increasing by 16,7% to over 44 million Euro.
• Turnover for the first six months: 2.509 million Euro.
• Retail funding exceeded 3,9 billion Euro.
• Non-performing loans/total loans in the trade receivables sector: 3,5%, compared to 4,3% at
the end of 2012 and 3,7% at 30 June 2012.
• 70 new employees taken on in the first six months of 2013.
• Solvency: 13,9%.
• Core Tier 1: 14,2%.
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HIGHLIGHTS
BALANCE SHEET - ASSET STRUCTURE
NET PROFIT
BALANCE SHEET - FUNDING STRUCTURE
and the still modest availability of credit on
the market in the light of the caution of non-
specialist banks in supporting companies with
traditional credit instruments. Performance
in the year will in any case be influenced by
the trend in credit quality, a key variable for
the banking market in challenging economic
times. Three new branches will open in
Italy, and a new recruitment campaign will be
launched with the aim of strengthening the
bank’s relations with business customers.
As far as non-performing loans are concerned,
the several portfolios of receivables due from
households that originators are expected to
place on the market will be thoroughly assessed.
As for funding, the reduction in interest rates
paid to customers due to market changes will
lead to a significant and increasing fall in the
average cost of funding, which has reached
truly exceptional levels in absolute terms.
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03 Contact, innovation, dialogue:it’s Credi Impresa Futuro, new service for Enterprises from Banca IFIS
Visit the website
www.credimpresafuturo.it
“Contact, innovation and dialogue”: are the
main ingredients making up Banca IFIS’s
new service dedicated to enterprises and, in
particular, entrepreneurs.
Indeed, Credi Impresa Futuro doesn’t only offer
companies the possibility of obtaining financing
but is also a multi-channel tool through which
it is possible to ask for information, deepen
one’s knowledge on particular topics, and use
the new communication tools that Banca IFIS
has provided for entrepreneurs.
The new logo will be inseparably accompanied,
therefore, by a new way of working: for Credi
Impresa Futuro this means the website, both
innovative and useful; boasting numerous
already-active on-line tools which allow
enterprises to:
• Apply for financing directly from the website;
• Find information and contact details for our
various branches and respective consultants;
• Use the on-line telephone service, “Filo
diretto” (Direct line), which can be activated
directly from the site and which connects
the ‘web-user’ to the people at Credi Impresa
Futuro from whom the web-user can obtain
assistance and information (like toll free
numbers, this direct line is completely free);
• Read and get more information on doing
business thanks to the contents of the MondoPMI
blog, directly viewable from the branches’ home
pages of the website www.credimpresafuturo.it;
• Have at one’s disposal dedicated, local
information; well-researched, highly detailed
local news important to help the enterprises
and Banca IFIS’s sales network in each area of
Italy to do business;
• Compare and confront, share discussions
and, generally, talk to other enterprises and
businesses linked to this sector thanks to Credi
Impresa Futuro’s and MondoPMI’s Facebook
and Twitter platforms, so as to encourage
and develop a shareable, entrepreneurial and
social dialogue;
• Use all the above services – above all through
mobile devices like tablets and smartphones.
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04 The 2nd NPL Meeting:the International workshopon the Non Performing Loans sector
September has been a moth full of events
in Banca IFIS: one of the most important
ones was the 2° NPL Meeting on the 19th
of October, organized in collaboration with
PwC and Credit Village, hosted in Villa
Furstenberg, Banca IFIS’s Headquarters.
About 150 professionals (originators,
collection and funding societies) took part
at the conference in which Italian and
International speakers discussed about
various themes. The participation of the
public was also active.
Opening the conference Ms. Jan Stieger,
President of DBA International (American
Debt Buyer Association): a presentation that
allowed speakers and public to compare the
American system of collection with Italian
and other foreign countries.
For further information
and to discover the program
and the speakers of
the 2° NPL Meeting
visit the official website
www.nplmeeting.it
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05 Success for the first Credit Storming, digital lab on the themeof Innovation in the credit world
The 17th and 18th September Banca IFIS
literally got “stormed” by ideas of the
participants of Credit Storming, the first lab
focused on the link between innovation and
credit. Forty young innovators developed
ideas concerning credit across different
themes: each of the four groups consisted of
young innovators belonging to the H-Farm
Incubator, Digital Accademia and Marketing
Arena, mixed together with some employees
and some storytellers, who were students
from the Masters in Economic Journalism
and Digital Information of Il Sole 24 Ore
Business School (Milan) and from the Masters
in Scientific Journalism of Sissa (Trieste).
Some “mentors” and managers from Banca
IFIS supplied content support together with
useful consideration for the processing of the
projects.
The participants, particularly the storytellers,
tweeted the themes of their groups
(#creditstorming) describing, via the Net, the
development of Credit Storming. At the end of
the second day a jury, composed of Banca IFIS
top management and Riccardo Donadon, Head of
H-Farm, identified the most original projects.
Discover tweets and
photos on momentz
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For the whole duration of the Credit
Storming event, Laura Bortoloni, freelance
communication and graphic designer,
produced the images that accompany this
newsletter.
For the CreditStorming, the Workshop on
the Non Performing Loans Sector and the
presentation of Credi Impresa Futuro, Laura
transformed live events into illustrations, a
www.laurabortoloni.com
New methods of communication for the Bank: the visual works ofLaura Bortoloni
synthesis of the concepts expressed by the
speakers and workgroups, catching the most
relevant moments of the events. A new method
of communication, in line with Banca IFIS’s
desire to experiment with new styles of dialogue
and information, useful to anybody keen to learn
about certain topics that are sometimes treated
in an overly complicated manner.
I N T E R N A T I O N A L W O R K S H O PO N T H E N O N - P E R F O R M I N G L O A N S S E C T O R
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06 Initiatives: on twitter #CapireBorsa
After the success of #capirebilancio,
Banca IFIS launched, on September 23rd,
a new “social education” project called
#CapireBorsa, in collaboration with the
Italian Stock Exchange, explaining stock
values and market terms on twitter to improve
the economic knowledge of its readers, useful
for managing everyday situations and for
developing cultural and economic awareness,
also through social networks.
The video that launches the initiative
highlights the keywords of finance: local,
global, real. In particular, real means “actually
in existence or in existence on the Stock
Market”. It means to know and to measure in
order to make an investment.
Tweets with the hashtag #CapireBorsa are
published daily on the @BancaIFIS profile,
on that of the C.E.O. @GiovaniBossi and on
the accounts of @rendimax, @contomax4you,
@MondoPMI, @streetnetworkIT.
See the launch video
on the Banca IFIS
YouTube channel.
#CapireBorsa
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On the blog SalvaRisparmio(with a new look)Savings DictionaryMore than a year after its birth,
SalvaRisparmio, Banca IFIS’s blog dedicated
to Saving, has been given a new “look”: the
colours are green and yellow, energy and
vitality and the new creativity recalls the
growing trend of economic graphs, but
lighter and more harmonious. On the left,
four buttons allow the visitor to share the
contents of SalvaRisparmio on the main
social networks (FaceBook, Twitter, Google+
and LinkedIn).
Together with the new layout, SalvaRisparmio
launched the Savings Dictionary, that
aims to explain to readers terms about both
economy and savings, to increase their
awareness towards those topics and give
useful information to the blog’s visitors.
SalvaRisparmio wants to bring discussion
and debate around the topic of savings: it
gives information on how to save in different
daily situations, on how to run a current or
deposit account, on the various bill payments
with a space dedicated to comments by the
users. The research and the publication of
news on economic and current topics is done
thanks to the selection of the newsroom.
The blog wants to be also an educational
platform, with numerous inititives and
features. Latest news concern the possibility
for the readers to listen to the articles’
podcast, both in Italian and English, directly
online on the blog pages.
Do you want to know
the definition of a term
related to savings? Ask it to
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Banca IFIS is set to employ sixty-five new
staff in Italy, thanks to the project “Giovani
Leoni”, created in 2007 with the goal of
increasing the presence of Banca IFIS on
the market; the current edition reached its
conclusion in September.
The youngsters, after the selection process,
faced a complete training itinerary with three
different learning typologies: theoretical
training in the classroom, practical training
and supporting the person in charge.
This is the eighth edition and more are
planned for the future, confirming the Bank’s
continuing growth. A trainee scheme that keeps
improving, through quality control and results
evaluation, run thanks to the collaboration
with the HR department, the sales managers
and all the teaching staff.
The people involved in the last edition have
shown great enthusiasm and participation,
and they are willing to step in to contribute to
the growth of the young and innovative reality
of Banca IFIS.
07 Giovani Leoni:new growing talents
Discover the images
on Banca IFIS’s
Facebook fanpage.
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08 Careers: job opportunities
The dynamic evolution of Banca IFIS Group continues, along with the search for talent to add to its
workforce. The Bank is targeting both youngsters, for whom it provides training and professional
growth within its organization, and senior figures, who can contribute with their experience.
Currently, there are various job openings: Legal Services Employee, Customer Service contomax
Employee – both in Venice; Sales Managers for various divisions of Banca IFIS: Bologna, Verona,
Toscana-Umbria, Gallarate, Torino; Internship - Back Office (Division - Banca IFIS International);
Financial activity agent (area: NPL Banca IFIS), throughout Italy.
Visit the website
www.bancaifis.com
or the Careers section on
Banca IFIS’s LinkedIn page.
“Banca IFIS becomes partner of the MA.D.E.E. IV of Digital Accademia, the MasterLab in
Digital Economics & Entrepreneurship”
Banca IFIS supports especially the virtuous work of the small&medium enterprises and wants
to be partner of the enterpreneurs in the beginning and development of their business, offering
real support both through professional competences and the numerous initiatives that the Bank
offers. For this very reason Banca IFIS decided to substain the Ma.d.e.e. Master, supportino the
diffusion of digital innovation in the Italian SMEs.
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NOVEMBER
• 11 November: Corriere Innovazione’s Big
Event on social innovation (Verona).
• 13 November: Board of Directors of Banca IFIS
Approval results of 3Q
• 14 November: The 7th edition of the Credit
Village Day wants to reflect on the social
impact of loans collection in the fifth year of
one of the worst crisis ever.
• 20 November: 3nd Webinar CrediFamiglia
Live on TV Channel Banca IFIS
• 22 November: One Day in Venice - Villa
Furstenberg, HQ Banca IFIS, Mestre (Venice)
• First week of December: Pillole di Futuro,
HQ Banca IFIS, Mestre (Venice)
09 In Agenda
OCTOBER
• 1-2 October: Banca IFIS at STAR Conference
London
• 15 October: 2nd Webinar CrediFamiglia on how
to structure correctly a CV and how to
candidate for a job position – live on Tv
Channel Banca IFIS
• 25-26 October: BlogTour #30IFIStour
To celebrate the 30th anniversary, Banca
IFIS organises a BlogTour with bloggers
belonging to digital marketing sector in a
“storytelling travel”, rich of social media and
personal interaction.
• 31 October: “Who saves find a treasure” event
organized to understand the value of money
in occasion of the World Saving Day - Villa
Furstenberg, Banca IFIS’s HQ, Mestre (Venice)
To be always updated on
events, conferences and
meetings follow
@BancaIFIS on Twitter
or become fan of our
fanpage on Facebook.
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Financial Calendar
Banca IFIS’s shares on the Stock Market
Shareholders’ breakdown
13/11/2013 Approval 3Q Results Venezia - Mestre (Italia)
Price on 30/09/2013 9.89€
Min-Max 2013 5,525 (02/01/13) - 10,26 (27/09/13)
Number of shares issued 53.811.095
Capitalization 532.191.729,55 €
1 month performance + 4.44%
6 month performance + 47.39%
1 year performance + 88.20%
Dividend paid 0,37€ (06/05/2013)
Specialist Intermonte Spa
On the 4th October 2013 La Scogliera S.p.A. has completed the placement, previously announced on 3 October 2013, of
6,000,000 ordinary shares of Banca IFIS S.p.A. equal to approximately 11% of Banca IFIS’s share capital, for an amount
equal to Euro 54.6 million.
In relation to Banca IFIS’s title, all financial reports and updates done by Edison and Intermonte gave judgement of Hold/Buy.
Sebastien Egon Furstenberg
Floating
Giovanni Bossi
Riccardo Preve
Banca IFIS shares
56.68%
34.88%
3.42%
2.40%
2.62%
30/09/2013
04/10/2013
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Follow us on Contacts
10 Contacts
Coverage by analysts
Marco Cavalleri
Banca Akros
Christian Carrese
Intermonte
Irene Rossetto
Intermonte
https://twitter.com/BancaIFIS
http://www.facebook.com/Banca.IFIS
http://www.linkedin.com/company/banca-ifis
http://www.youtube.com/user/BancaIFIS
http://tvchannel.bancaifis.it/
Website: http://www.bancaifis.com
Website of 2012 financial statements:
http://bilancio.bancaifis.it
Investor Contact: Mara Di Giorgio
Email: [email protected]
Phone: +39 041 502 7623
Mark Thomas
Edison, Investment Research