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Gruppo Carige GRUPPO CARIGE Nomura Financial Services Conference 2011 1 September 2011 Agenda Carige Group at a glance Key financial highlights 1H11 results Strategic Plan 2011-2014 Annexes 2 Banca Carige Group ~50,000 small shareholders Fondazione CR BPCE SA Assicurazioni Floating Genova e Imperia Generali 44.05% * 14.98% * 2.97% * 38% * Banca Carige SpA Cassa di Risparmio di Genova e Imperia Banking Insurance Finance Trustee •BancaCarige • Carige Vita Nuova (life) • Carige AM SGR •Centro Fiduciario • CR Savona • Carige Ass. ni (non life) • Creditis (Consumer •CR Carrara credit) • BM Lucca •B. CesarePonti Main Companies Only 6,013 1.9 M CUSTOMERS 670 BRANCHES & EQUITY EMPLOYEES (1.2 M BANKING; 0.7M ASSURANCE) 436 INSURANCE OUTLETS 3.6 € BILLION *Holding calculated on the basis of ordinary shares Operational and accounting data as at 30 June 2011 3 Growth through a long season of acquisitions Year Capital collected Mln. Euro Year Acquisitions Mln. Euro 1994-95 IPO 105 1993-95-99 Cassa di Risparmio di Savona 228 Bond conversion into new shares 1996-97 61 1991-06-09 Insurance companies 473 Capital increase underwritten by La 1997 Basilese 46 1999-2009 Banca del Monte di Lucca 80 Capital increase underwritten by 1998 institutional investors 116 2000 21 branches from Banco di Sicilia 60 Capital increase underwritten by CNCEP, 1999 CDC, WestLB 236 2001 61 branches from Gruppo Intesa 277 Capital increases and issue of 2003-06 subordinated convertible bonds 521 2002 42 branches from Gruppo Capitalia 127 2006 Issue of a LT2 bonds 500 (()1) 2003 Cassa di Risparmio di Carrara 174 2008 Capital increase 957 2004-2010 Banca Cesare Ponti 74 (2) Issue of subordinated bonds (Tier 1, Lower 510 2008 79 branches from Intesa Sanpaolo 853 Tier 2, Upper Tier 2, Tier 3) 2009 Issue of a LT2 bonds 100 2008 40 branches from UniCredit Group 115 2010 Issue of convertible bonds 392 2010 Issue of two LT2 bonds 70 2010 22 branches from Monte Paschi 126 2010 Issue of LT2 bonds 200 2011 Banca Cesare Ponti 6 Total 3,814 Total 2,593 (1) Of which 148. 4 m have been redeemed and substituted by 135. 5 m representing a new LT2 bond issued during the exchange offer promoted in December 2010. (2) In connection with the previous business plan 2010-2012, Banca Cesare Ponti merged with Banca Cesare Ponti with effect from 31 December 2010. With effect from 1st January 2011 a new company, called Banca Cesare Ponti, manages all the private banking activities of the former Banca Cesare Ponti and of the private activities of Banca Carige in Lombardy. 4 A more and more diversified network The network today new ex ISP ex Unicredit ex MPS branches branches branches branches 4 8 670 1/1 75/82 46/ 41 5 56/29 29/ 21 643 22 France 254/ 16 40 79/25 5/13 1 2/9 79 522 2 15 137 39/38 42 9/27 7 1989 2007 2009 TODAY 3 11/22 100% 25 72% 71% 69% 96% 48% 39% 38% 63/47 Banking branches 670 % of Branches % of Insurance outlets 436 in Branches Northern Italy in Liguria Operational data as at 30 June 2011 5 Among the top Italian banking Groups Market Cap(1) (€b) Total Assets (€b) 20.6 20.2 911 • Ordinary shares 2.3 €b • SiSavings s hares 040.4 €b #8 #4 645 5.1 272.7 252.5 222.2 181.8 1.7 232 1.0 0.7 0.7 136 133 59 56 40 31 27 27 (1) Data as at 16 August 2011 (Source: Il Sole 24 Ore) Branch Network(#) C/I (%) 9,607 #4 7,428 72.7% #8 69.7%67.7%66.8%66.0% 63.5%60.6%60.6% 57.2%55.3% 41.7% 2,917 2,114 1,878 1,297 770 668 543 541 314 Source: Companies data Operational data and accounting data (1Q11 report) 6 Agenda Carige Group at a glance Key financial highlights 1H11 results Strategic Plan 2011-2014 Annexes 7 Focus on retail by segment by geographic area (*) Private & South & Other Affluent Islands 5.9% 16.8% 2.1% Mass L Public Market Centre ¾ of loans Liguria O Entities 22.3% 19.5% to 38.7% A 4.3% N Small retail S Business customers 9.0% SME Large 35.8% Corporate North 9.7% 35.9% (*) by customers’ residence LOANS TO CUSTOMERS 1H11 : 26.6 €b T by segment by geographic area O Other T South & 27.2% A Islands Affluent&Affluent & L 5.1% Mass Centre D Market 12.4% E 42.4% P Private North Liguria O 20.5% 21.5% 60.9% S Corporate I 9.9% T S TOTAL DEPOSITS 1H11 : 52.6 €b Small business = turnover<1 m ; SMEs= <100 m€; Large Corporate= >100 m€ Data as at 30 June 2011 Mass Market: total deposits < 80 k€, Affluent > 80 k€, Private > 500 k€ Operational data and accounting data (1H11 report) 8 Customer based funding Funding Interbank 1H11 deposits 9,3% €m % Interbank deposits 2.919,4 9,3 Customer money market deposits deposits Covered and current accounts 2.583,8 8,3 74,9% Bonds other deposits 335,6 1,1 6,7% Customer deposits 23. 402, 5 74, 9 Securitisation 0,7% short term deposits 15.717,5 50,3 Subordinated medium/long term deposits T1 bonds EMTN and domestic bonds 7.685,0 24,6 0,5% programme EMTN programme 2.463,5 7,9 7,9% shuldsheine 25,0 010,1 bonds 1.617,9 5,2 Retail bonds subordinated bonds 820,6 2,6 400 Subordinated T1 bonds 160,0 0,5 New issues Tier 1 160,0 0,5 for €3bn over the last 12 300 months Securitisation 226,9 0,7 RMBS performing securities 226,9 0,7 Covered Bonds 2.084,0 6,7 €m 200 TOTAL FUNDING 31.256,3 100,0 100 Funding includes also: -€67.6 million from the securitization Argo Mortgage carried out in 2001, derecognised in the financial statement pursuant to the - exemption allowed by IFRS 1 on first time adoption Medium/long term deposits and bonds include convertible bonds for 391€m issued bonds matured bonds Data as at May 2011 Operational data and accounting data (1H11 report) 9 No pressure on liquidity Current Debt Maturity Profile Outstanding capital market transactions Amount Outstanding Transactions as at 30/06/2011 Issue Maturity Call (€m) (€m) LOWER TIER 2 (**) 6/2003 6/2013 15.0 15.0 EMTN PRIVATE PLACEMENT(**) 9/2004 10/2014 13.0 13.0 EMTN PRIVATE PLACEMENT(**) 4/2006 4/2013 15.0 15.0 LOWER TIER 2 (**) 6/2006 6/2016 2011 500.0 350.6 EMTN SENIOR NOTES(**) 2/2007 2/2012 900.0 839.9 LOWER TIER 2 (**) 6/2008 6/2018 2013 100.0 100.0 3,073 LOWER TIER 2 (**) 6/2009 6/2016 100.0 100.0 COVERED BOND (*) 11/2009 11/2016 1,000.0 884.1 351 €m TIER 1 12/2008 Perpetual 2018 160.0 160.0 callable in LOWER TIER 2 (**) 6/2010 6/2017 20.0 20.0 2011 COVERED BOND (*) 9/2010 9/2013 500.0 486.5 LOWER TIER 2 (**) 9/2010 9/2020 50.0 50.0 20 €m Reg COVERED BOND (*) 9/2010 10/2022 20.0 20.0 100 €m callable in Reg COVERED BOND (*) 9/2010 9/2030 75.0 75.0 1,698 1,698 1,694 callable in 2020 Reg COVERED BOND (*) 10/2010 10/2022 2020 20.0 20.0 2013 1,486 Reg COVERED BOND (*) 10/2010 10/2040 2020 20.0 20.0 20 €m COVERED BOND (*) 10/2010 11/2016 180.0 180.0 callabl e in Reg COVERED BOND (*) 11/2010 11/2030 18.5 18.5 2020 Reg COVERED BOND (*) 11/2010 11/2030 20.0 20.0 380 601 574 Reg COVERED BOND (*) 12/2010 12/2030 40.0 40.0 527 LOWER TIER 2 (**) 12/2010 12/2020 200.0 200.0 COVERED BOND (*) 03/2011 03/2015 500.0 500.0 187 154 - 40 4 20 EMTN SENIOR NOTES(**) 04/2011 04/2013 750.0 750.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2030 2040 Total 5,216.5 4,877.6 (*) On a 5 € bn plafond RETAIL INSTITUTIONAL COVERED BONDS (**) EMTN Programme On a 4 € bn plafond Operational data 10 Sound assets Total asset breakdown Financial assets (*) Debt securities 96% Intangible Other assets 8% Net loans to 4% Tangible assets customers 3% 61% MlfdMutual funds 1% Financial assets 24% Securitization Hedge funds 1% Equity and <1% private equity (*) Data do not include the stake 2% Total 42.4 €b in Bank of Italy and the notional value underlying customers’ index Total 8.8 €b linked policies Gross loan breakdown Debt securities and securitisations A NPL mortgage loans to 85% 5% individuals 26% public entities 3% m/l term AA 68% consumer credit 3% 3% short term AAA 27% loans to corporate 4% 36% BBB Other 6% 1% Total 8.1 €b Total 26.6 €b Data as at 31 March 2011 Operational data and accounting data (1H11 report) 11 Sound credit policy Breakdown of impaired loans (€m) Impaired loans Comparison with the System (€m) 1H11 Gross Adj. Net Coverage Carige Group Performing loans 24,178 82 24,096 0.3% (June11 - Net impaired loans 1.7€b) 677 Impaired loans 2,383 639 1,743 26.8% 660 603 593 NPL (Sofferenze) 1,237 560 677 45.3% 499 518 Watchlist (Incagli) 662 69 593 10.4% 442 464 378 Rescheduled (Ristrutturati) 148 4 145 2.5% 348 329 287 291 Past due (Scaduti) 336 7 329 2.0% 238 271 Total loans to customers 26,561 721 25,839 2.7% 129 123 126 145 5 1H11 FY10 Annualised cost of risk 0.42% 0.45% Dec 08 Dec 09 Dec 10 Mar 11 Jun 11 System (Mar11 - Net impaired loans 178€b) Impaired loan ratio 94,971 78, 636 8.7% 9.0% 8.2% 8.3% 60,242 54,935 52,937 6.0% 42,791 49,141 NPL 33,286 Watchlist 15,759 12,466 14,411 6.4% 6.5% Gross 9,290 13,486 13,992 Rescheduled 6.3% 6.1% 7,697 1,705 43%4.3% Net Past due Source: Bank of Italy Dec 08 Dec 09 Dec 10 Mar 11 Carige Change Dec 08 Dec 09 Dec 10 Mar 11 Jun 11 Dec09/Dec 08 Dec10/Dec09 Sept10/June10 Dec10/Sept10 Mar11/Dec10 June11/Mar11 NPL ratio NPL 34.4% 32.8% 5% 7% 10% 2% Watchlist 87%8.7% 26.
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