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Banco Popolare Group at a Glance

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Banco Popolare Group at a Glance GroupGroup Presentation Presentation November 2014 Banco Popolare Group at a glance Creation. Banco Popolare was established on 1st July 2007 from the merger between Banco Popolare di Verona e Novara and Banca Popolare Italiana. Size. Today, Banco Popolare is the 1st Italian cooperative bank by number of branches (1,919) and the 4th largest Italian bank by total assets (€126bn). Market Share. Excellent geographical position, with an average branch market share of 10% in the main regions in northern Italy and a deeply rooted local network. Business. Core business focused on retail and SME customers. 2 Banco Popolare Group at a glance Liquidity and Funding Capital position Strong support from the Group’S retail networks, which €1.5bn capital increase successfully completed in April 2014. provides 83% of the total customer funding, thereby limiting Comprehensive Assessment passed with a wide margin, thanks any reliance on the wholesale market. to the capital strengthening measures already carried out in Loan to Deposit ratio(i) at 95.9%. H1 2014: Excellent liquidity profile thanks to the significant amount of . CET1 ratio post AQR: 11.50%, unencumbered assets eligible with the ECB, equal to about . CET1 ratio post Stress baseline: 10.26% €14bn as at 31/10/2014. CET1 ratio post Stress adverse: 8.29% Liquidity ratios already in line with Basel 3 required targets: Capital ratios as at 30/09/2014 Basel 3 (pro forma)*: LCR > 100% and NSFR equal to ~100%. CET1 (Phase-in): 13.9% CET1 (Fully Loaded): 11.9% Note: (i) Net cutomer loans excluding REPOs / Total direct funds excluding REPOs * Including 18bps from the merger of Italease (to be completed in Q1 2015). Credit Quality Cost Control and Simplification The stock of customer loans is substantially stable in Q3 14 Improvement in operating efficiency: (-0.3% q/q). major simplification of the organizational structure (merger of Banks of the Territory into the Holding company) and corporate Strong growth in new lending of the first 9 months 2014 for governance completed in 2011, with a further streamlining set to be all the 3 main core segments: +14%y/y in the Households & finalised in 2014 through the merger of Credito Bergamasco Other Individuals segment; +34% y/y in the Small Business (completed in June) and Italease (to be implemented in Q1 2015); segment; +85% y/y in the Mid Corporate segment. closure of 200 branches in the period 2010-2013, and additional 112 closures to be finalized by Q4 2014 (vs 70 targeted in the Further strengthening of the NPLs coverage which exceeds Business Plan) 38% as at 30/09/2014 (including write-offs) and increases reorganization of the branch franchise and distribution model under both vs. June 2014 (+45bps) and vs. year-end 2013 (+67bps). way (see Slide 10). Workforce reduction of 1,842 FTEs in the period 2010-2013), Further de-risking of Italease, with a decrease of gross NPLs with an additional -758 expected in the period 2014-2016 (of of €65m in Q3 2014. which -325 already achieved in 9M 2014). 3 Group structure SWIFT: BAPP IT 22 Main Product Companies and Joint Ventures International Network Banca ALETTI Private & Investment Banking Subsidiaries & Branch BANCO POPOLARE LUXEMBOURG ALETTI GESTIELLE SGR Asset Management BANCO POPOLARE UK Branch BANCA ALETTI SUISSE SA AGOS DUCATO Consumer Credit JV Credit Agricole Representative Offices AVIPOP Assicurazioni Non-Life Bancassurance JV AVIVA SHANGHAI HONG KONG MUMBAI POPOLARE VITA Life Bancassurance JV FON-SAI MOSCOW RELEASE Leasing company 4 Banco Popolare: leading player in the Italian domestic market Size: Banco Popolare is the 1st Italian popolare bank by BP Standalone: breakdown of customer loans (as of 30/09/2014) number of branches (1,919) and the 4th largest Italian bank by total assets (€126bn). Performing loans by customer segment Market Share: Excellent geographical position: Households ~70% of customer loans concentrated in the north of Italy; and Other Small Franchise quality and well-recognized brands in core market Individuals* Businesses 31,2% 19,4% regions, which are the wealthiest regions of the north of Italy, accounting for more than 57% of the Italian GDP. Institutional and Other Business: traditional banking model focused on retail: 1,8% Households and Other Individuals, Small Businesses and Mid- Large Mid Corporate customers, represent 86% of customer loans; Corporate Corporate more than 90% of the total granted positions with an average 10,3% Entities 35,1% amount <€250k. 2,2% Total loans by # of customers by geographical area loan amount granted** Market share by number of branches (***) (as of 30/06/2014) South and TheThe here-indicated here-indicated core core regions regions of of Banco Banco >15% Islands Popolare’sPopolare’s presence presence together together account account for for the the 5-15% 57.3%57.3% of of the the Italian Italian GDP GDP (Source: (Source: Prometeia). Prometeia). 5% RoW < €75k 1.5-5% Centre 2% 66% >0-1.5% 23% 0% Veneto 9.2% €75k - €250k Lombardy 8.5% 26% Emilia Romagna 6.9% North-West 42% Piedmont 8.8% >€250k North-East 8% Liguria 13.2% 28% Notes: (*) The segment “Households & Other Individuals” includes also businesses and professionals Tuscany 9.4% with a turnover <€100K. (**) Data of the domestic commercial network; % on # of customers with loans granted. ITALY 6.2% (***) Domestic branch market shares are calculated as of 30 June 2014 and are based on a total of 1,925 Italian branches of the Commercial network. 5 International Network: Subsidiaries and Branch United Kingdom Banco Popolare – London Branch Mr. Dario Mancini 1-5 Moorgate London EC2R 6JH tel.+44 207726 9450 fax +44 20 7726 9481 SWIFT VRBPGB2L [email protected] Switzerland Luxembourg Banco Popolare Luxembourg SA BANCA ALETTI (Suisse) SA Mr. Davide Manzotti Mr. Massimo Luca Mattioli Via Magatti n. 6 C.P. 5826 Lugano 26 Boulevard Royal C.P.555 L-2449 Luxembourg tel. +41 91 9118111 tel. +352 465757251 SWIFT VRBPCH22 [email protected] SWIFT GRVRLULL [email protected] 6 International Network: Representative offices BANCO POPOLARE BANCO POPOLARE Shanghai Hong Kong Mrs. Yang Jiang Mr. Stefano Carrozzi Unit 013 27/Fl. Hang Seng Bank Tower 3205 Central Plaza – 18 Harbour Road, Wan Chai, 1000 Lujiazui Ring Road HONG KONG Pudong New Area, Shanghai 200120 CHINA Tel +852 2522 7608 Tel 86.21.6841 0599 Fax +852 2521 9688 Fax 86.21.6841 1776 [email protected] [email protected] BANCO POPOLARE BANCO POPOLARE Moscow Mumbai Mr. Maurizio Zucchetti Mr. Stefano Pulliero Federation Tower 82 – 8th Floor, Jolly Maker Chambers II Presnenkaya nab. 12, floor 54, office 1A - 121100 Moscow 225 Nariman Point RUSSIAN FEDERATION Mumbai 400021 - INDIA tel./fax +7 495 6459702 Tel +91 22 22042872 fax +91 22 22042874 [email protected] [email protected] 7 Banco Popolare Group vs. Italian peers (as at 30/09/2014) €/bn TOTAL ASSETS BRANCHES 858,0 7.665 633,7 5.942 2.367 190,7 1.919 1.676 125,9 120,5 1.274 60,5 48,5 668 UCI ISP MPS BP UBI BPER BPM UCI ISP MPS BP UBI BPER BPM €/bn €/bn DIRECT CUSTOMER FUNDS NET CUSTOMER LOANS (including outstanding bonds) 555,5 470,4 402,6 337,3 126,6 126,3 87,9 85,5 84,9 84,0 46,3 36,4 44,6 32,1 UCI ISP MPS UBI BP BPER BPM UCI ISP MPS UBI BP BPER BPM 8 Banco Popolare ratings T L BNOPOPOLARE ITALYBANCO Long-term Long-term Agency Short-term Other ratings Short-term (outlook) (outlook) BBB Viability: bb+ BBB+ Fitch Ratings* F3 F2 (negative) (stable) Support: 2 Ba3 Moody's Investors Baa2 NP (negative - BFSR: E+ P-2 Service** (stable) m) BBB Standard & Poor’s*** - - - A-2 (negative) (*) On 19 May 2014, Fitch Ratings affirmed the long- and short-term ratings of Banco Popolare at “BBB”, with Outlook negative, and “F3”, respectively. At the same time, the Viability Rating was lowered from “bbb-” to “bb+“. (**) On 29 May 2014 Moody’s Investors Service, within a systemic European rating action triggered by their valuation regarding the new resolution framework for banking crises, reviewed from ‘Positive’ to ‘Negative’ the Outlook on Banco Popolare’s long-term rating. At the same time, the Outlook of the Standalone rating remains unchanged at ‘Positive’. (***) On 18 August, Standard & Poor’s withdrew the ratings of Banco Popolare and its subsidiaries, following our request. In fact, on 08 August 2014 Banco Popolare had announced that, within a review of the process of relationships with rating agencies, the Board of Directors of Banco Popolare decided to terminate the contracts with Standard & Poor’s. In this context, it is noted that, on 17 June 2014, Standard & Poor’s had raised the rating of Banco Popolare’s stand-alone credit profile (SACP) from “b” to “b+”, while the long and short-term ratings of Banco Popolare were affirmed at “BB-/B”, with negative outlook. N.B. Indicated long-term ratings refer to the senior debt of the Group’s companies. Updated as of 18 August 2014. 9 Comprehensive Assessment passed with wide margin The Comprehensive Assessment has confirmed the robustness of the Group's capital ratios. The CET 1 ratio has increased further as at 30 Sept. 2014, to 11.9%PF on a fully phased basis. The profitability in the first nine months of 2014 remains under pressure from the still difficult macroeconomic environment, but the Group has undertaken key actions, both of structural and commercial nature, aimed at fostering the future profitability outlook. 10 Comprehensive Assessment passed with wide margin Italian banks comparison of CET1 ratio 2013 Phase-in* CET1 ratio 2013 Phase-in* post AQR Buffer vs. minimum thresholds envisaged in the Comprehensive Assessment Bps** +350 +226 +279 €/m +1,842 +1,183 +1,449 11.50% 10.26% 8.29% 8.0% Min.
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