banca cr firenze group investor relations 1 - * 2001, all brand cardholders (aura: 2,000,000)...
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1
Banca CR Firenze Group
Investor Relations
-
* 2001, all brand cardholders (Aura: 2,000,000)
2,200,000* cardholders among proprietary, private label and bank
cards
THE CARD BUSINESS
2
Banca CR Firenze Group
Investor Relations 2001, average outstanding credit
Outstanding credit Financial margin
34%
25%
16%
25%
15%
25%
10%
50%
Revolving cards Personal loansHome appliances Vehicle financing
THE CARD BUSINESS - 2
Fast growing business
High contribution
Aura Card: #1 revolving credit card in Italy
3
Banca CR Firenze Group
Investor Relations
8% 43%
28%
21%
24%
21%26%
29%
EUROFINAS - Europe
FINDOMESTIC
20%13%
9%
58%
ASSOFIN Italy
Findomestic is already there
EUROPE GOES REVOLVING
Revolving cards Personal loansHome appliances Vehicle financing
*As at Dec. 31, 2002
4
Banca CR Firenze Group
Investor Relations
Comparison with more developed markets shows room for a further increase in
consumer credit
0.00%
10.00%
20.00%
0.00% 12.50% 25.00%
ITA ‘91
ITA ‘00
UK ‘91USA ‘91
USA ‘00Sa
vin
gs
ra
tio
Cons. credit / GDP
EU 8.8%
Source : Merrill Lynch
UK ‘00
FUTURE TREND
5
Banca CR Firenze Group
Investor RelationsSource : Prometeia Calcolo Apr.30, 2002
Banca CR Firenze creates value:
1.00%
6.50%
12.00%
3.00% 6.00% 9.00%
B. Lombarda
B. Pop. Bergamo
BPCI
B. Pop. Em. Romagna
B. Pop. Milano
MPS
B. Pop. Verona
Banca Carige
C.R. Firenze
B. Pop. Sondrio
B. Pop. Lodi
2002
E R
OE
2002E Cost of Capital
ROE = Cost of Capital
2002E ROE: 10.4%
2002E Cost of Capital:
7.8%
VALUE CREATION
6
Banca CR Firenze Group
Investor RelationsAs at June 20, 2002 - Source : Datastream
Since its IPO CR Firenze has been one of the best performers amongst the Italian Financial
Institutions
Banca CR Firenze
Comparables Index
Italian Banking Index
2001
SHARE PRICE PERFORMANCE
J A O N D J F M A M J J A S O N D J F M A M J50
60
70
80
90
100
110
120
130
S2002
June, 2002 - United Kingdom
BACK-UP SLIDES
BANCA CR FIRENZE GROUP
8
Banca CR Firenze Group
Investor Relations
After UT2transaction
Tier I
Tier II
Deductions
REGULATORY CAPITAL
SOLVENCY RATIO
Tier 1 SOLVENCY RATIO
FY 2001
785.6
-124.0
454.1
1,115.7
8.33%
5.86%
1Q 2002*
823.6
-138.5
437.0
1,122.0
8.17%
6.00%
Euro millions
823.6
-138.5
637.0
1,322.0
9.22%
6.00%
*Figures take into consideration a capital increase by means of reserves utilization as approved by the shareholders meeting held the Apr. 29, 2002
EQUITY STRUCTURE
9
Banca CR Firenze Group
Investor Relations
Euro millions
*Exceptional costs excluded ** Operating income, trading income excluded
Variation
NET INTEREST INCOME 11.0%
Non-Interest income -2.4%
Operating costs* 0.9%
CORE OPERATING INCOME** 3.9%
INCOME before Expceptionals 1.7%
NET INCOME
2000 PF
518.5
342.4
551.3
265.3
182.0
93.3
2001
575.8
334.3
556.4
275.7
185.1
93.4 0.0%
2001 CONSOLIDATED RESULTS
10
Banca CR Firenze Group
Investor Relations
Euro millions
Variation
11.5%
5.2%
18.5%
9.3%
31.0%
28.5%
NET INTEREST INCOME
Non-Interest income
Equity subsidiaries
TOTAL INCOME
PROFIT before exceptional
NET INCOME
Total costs
1Q 2001 PF
132.4
79.4
2.7
214.6
33.2
15.8
157.4
1Q 2002
147.6
83.5
3.2
234.6
43.5
20.3
164.7 4.6%
1Q 2002 CONSOLIDATED RESULTS
11
Banca CR Firenze Group
Investor Relations
Euro millions
Variation
DIRECT FUNDING 2.2%
INDIRECT FUNDING 2.8%
Asset under custody 3.6%
TOTAL FINANCIAL ASSETS
Asset under management
GP (discretional accs)
Mutual funds
Insurance products
2.1%
-3.7%
6.3%
0.0%
2001
11,058.3
14,091.5
6,063.7
2,340.1
8,027.8
4,089.3
1,598.4
25,149.8
1Q 2002
11,300.2
14,478.9
6,281.9
2,253.7
8,197.0
4,345.4
1,597.9
25,779.1 2.5%
1Q 2002 CONSOLIDATED RESULTS
12
Banca CR Firenze Group
Investor Relations
357.2
203.8
348.5
203
349.5
218.5
100
300
Eu
ro m
ln
1999 2000 2001
67.0%
68.2%67.5%
65.8%
9.5
C / I ratio, exceptionals excluded
Personnel expenses
Exceptionals
Other expenses
C / I ratio, recovered expenses excluded
COST / INCOME
Strong commitment to reduce the present level
13
Banca CR Firenze Group
Investor Relations
5,000
Private Customers 800,000
75,000 500,000
82% 17.5% 0.5%
Mo
nth
ly i
nco
me
- E
ur o
Assets - Euro
Retail
Affluent
Private Bkg.
As at Dec. 31, 2001 - Group
SMALLBUSINESS
CORPORATE
Top1%
Big6%
Mid-size9%
Small 20%
Micro64%
> 25
> 2.5
> 1
> 0.25A
nn
ual
sal
es -
Eu
r o m
ln
Companies100,000
CUSTOMER SEGMENTATION