Issue 4, December 2012

00_Giovanni Bossi’s editorial
01_The Group’s excellent
economic-financial results
in the first 9 months of the year
02_Ready, set, GO!
The contomax current account
31 December 2012_Quarterly
kicks off on 7th January!
03_StreetNetwork: a day of art,
music and dancing that involved the
general public and the Web
04_3.0 Bank: WebTV and much more
05_Social recruiting catches on
04 2012
Newsletter 4
New job openings at Banca IFIS
06_What are “Non Performing Loans” exactly?
07_Enterprises’ World
08_On the agenda
09_Contacts
makelessnoise
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02
Giovanni Bossi’s editorial
2012. A year of very important growth and of
confirming its commitment to virtuous enterprises. The
breaking off with the past. Excellent profitability,
Bank supports growth instead of creating it. It works side by
excess liquidity and first-rate equity are the three
side with the company that works in a virtuous fashion, and
pillars underlying the increase in the Bank’s figures.
does not make choices for the entrepreneur. Lastly, the Bank
However, the year that has just ended should be remembered,
chooses to act in order to help those who deserve it and to
above all, for what the Group planned and achieved, building
reject those who do not. This Banca IFIS’s task, this is the
its future with perseverance and dedication, with the
objective that will lead the bank to grow quickly among the top
goal of writing a small new page in the never-ending book
five players on the market. With a focus on enterprises that
about the banks’ role in Italy and the whole of Europe.
innovate and export; on those that have receivables due from
A successful year, then. The best year yet in Banca
the Public Administration and have an eye on encouraging
IFIS’s history. The result of proper choices and ideas,
the completion of bankruptcy procedures, releasing them
interpreted by people who, with their energy, desire,
from tax receivables and contributing to the recirculation
intelligence, expertise and, above all, soul and passion,
of capital resources that are important for growth.
were able to give the company’s activity the right pace.
Major innovations for the NPL division, wich concentrates
Today, the Group can rely on a strong identity. It pursues
on the management of accounts towards counterparts
its objectives without hesitation, renewing them and
who are families often experiencing financial troubles.
increasing its rise ambitions as soon as possibilities. The
New instruments and processes will gradually take shape
ability to quickly renew itself; to look at other contexts
during the year, and the search for sustainable solutions
suggesting new answers; the push by people who have
will lead to a stronger commitment towards the hundreds
shared stimuli as well as new ways of working, continually
of thousands of people towards which the Bank boasts a
putting themselves on the line, with transparency and
credit. Sustainability, reliability and mutual respect will be
a vision of the future: these are the levers for change.
the passwords for the Group’s presence in the credit recovery
2013 will be a year full of challenges. The little or no growth
sector, where much can be done to improve the quality of life
of economies, together with the necessary fiscal compact
of those who have had or are currently experiencing a difficult
policies in both the public and private sectors, lead to fears
financial situation, often for reasons beyond their will.
that the economic trend will worsen. But the Bank will be
New challenges in retail deposits: the most delicate one is the
facing these challenges being fully prepared and solid, with
launch of the contomax crowd bank account, which joins the
the intention of continuing to strengthen its team, developing
rendimax savings account and will allow us to offer our clients
the skills of its human resources and investing in their
something that is completely new, through a simple and honest
capabilities so they may perform their jobs better and better.
relationship. Excellent service, internal efficiency that means
Reacting to changes in an increasingly quick and effective
industrial product costs cut to a minimum, innovation in the
manner will be crucial: in such an unpredictable context,
product range are and will remain the pillars of our deposits.
the ability to react will be more important than the ability
On a difficult market, the Bank shows up for the new
to predict. It will also be important to maintain a high
year with what it takes to grow and contribute, as
sense of responsibility towards all those involved: from
always, to the economy of the system. Our commitment
enterprises to savers, from colleagues to stakeholders.
and our promise to do our best in order to be stronger,
Banca IFIS knows how to recognize good work in the companies
and to use our new strength to do even better.
it finances, and has to continue unceasingly in their selection,
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Giovanni Bossi, CEO Banca IFIS
03
01
“The third quarter
confirmed the growth
trend from the first half
of the year. All business
units have achieved
impressive results by
working with resolution
and enthusiasm to seize
all the opportunities
offered by an everevolving market.”
The Group’s excellent
economic-financial results
in the first 9 months of the year
The Banca IFIS Group continues to grow in
thus proving that the Bank supports worthy
the third quarter, thus confirming the trend
companies, including those with receivables
of the previous interim reports. The third
due
quarter figures were approved by the Board
In the sector for non-performing loans, a strong
of Directors this past 30th September 2012.
structural change has taken place within the
The main data highlighted by the results include
market, and Toscana Finanza, which joined the
a 100% increase in the banking income, up
Group on 1st July 2011, has shown its ability
to € 167.6 million in the first nine months of
to seize new opportunities: at the beginning
the year (with an 84% increase in the third
of the year, important portfolio purchases
quarter). Strong growth made possible thanks
were made from two major international
to the positive contribution of all Group
banking groups, while a third agreement was
sectors. Net banking income grew by 115.9%
signed at the end of June. Throughout the
to € 140.1 million, also increasing in the third
nine months, the activity also focused on
quarter by 88.1%. A strong reduction in the
strengthening the processes, resources and
costs/banking income ratio is confirmed once
instruments applied in the management of loan
again, which falls from 38.8% down to 30.6%.
accounts, which total approximately 400,000.
The increase in net profits is especially
rendimax,
noteworthy as it grows to € 57.8 million, an
continues to be a huge success, in terms of
increase of 175.5% in the first nine months of
both the increase in the number of customers,
the year (for the third quarter, it settles at € 20.2
more than 60,000 at the end of the period,
million, a 154.1% increase). This is in addition
and of the strong increase in deposits. The
to the constant success of retail deposits, which
size of the securities portfolio continues
increased by 75.6% to further strengthen the
be significant, equal to € 4,612.7 million at
Bank so that it can face the last part of the
the end of the period, mostly short-term
year with determination and peace of mind.
and fixed-rate or short/medium-term and
The Group’s Net Equity is also on the rise, from
variable rate, of which € 4,462.3 million refer
€ 196.3 million as of 31st December 2011
to Italian government bonds. Investing in
to 284 million as of 30th September 2012.
securities allows the Bank to make profits
In the area of commercial loans, during the
suited to increasing its Equity, without taking
first nine months of the year the number
away financial resources from corporate loans
of financed customers increased by 12%,
or having to resort to capital increases.
from
the
Banca
Public
IFIS’s
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Administration.
savings
account,
04
02
Contomax’s social
network presence
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Ready, set, GO!
The contomax current account kicks off on 7th January!
contomax, Banca IFIS’s crowd current account,
allows them not to miss out on the yield, thanks
is the result of a dialogue with the Internet; it
to a set of interest rates for the deposited sums.
will be operational as from 7th January, and
contomax Free, the non-term account formula,
can be found on the website www.contomax.
will offer an interest rate of 1.50% with quarterly
it. Innovative, simple, safe and high-yielding
payment, while the contomax Now term
right from the start, it offers solutions in line
accounts, with pre-paid interest and maturity
with the on-line world from which it originates.
dates from
The main services are available immediatly:
rates ranging from 2.85% to 3.85%. contomax
advanced Bancomat (cash card that can also
Up, on the other hand, offers term deposits
be used for on-line purchases on the Maestro
with deferred interest payment for maturity
circuit); payment of utility bills and Telepass
dates from 3 to 24 months, with interest rates
motorway tools, and transfer of funds from
from 3.10% to 4.35%. Lastly, the contomax
one account to the other, in addition to mobile
One option which, in line with rendimax Like,
phone top-ups. Security is ensured by the Token
allows customers to withdraw the desired sums
system, which generates single-use codes.
with a 33-day advance notice, with a 3.5%
Internet users were precisely the ones to
yield. What about the costs? This is a low-cost
determine, by participating in a series of online
account, with no opening or management
surveys published on social networks and on the
fees, that also includes an unlimited number
website, the basic services that contomax had to
of transactions throughout the year. The
offer right from the word “go”, with over 12,000
debit card and Internet banking are also free
preferences being expressed. contomax thus
of charge, as well as the first 5 withdrawals
aims to satisfy the savers’ needs. Moreover, it
of the month from ATMs located in Italy.
1 to 24 months, offer interest
05
03
Photos of the live
event in Venice
www.streetnetwork.it
facebook.com/StreetNetwork
twitter.com/StreetNetworkIT
StreetNetwork: a day of art,
music and dancing that involved
the general public and the Web
StreetNetwork, the ideas contest organized
the inspiration for his artwork. “Looking at the
by Banca IFIS in order to give contomax,
website and contomax graphics, I immediately
the crowd current account of the future, its
came upon an idea that would be suited to the
graphic layout, has come to an end, and on 3rd
requests. In my opinion, the lettering needed
December, Riccardo Bernucci, the Internet’s
to be changed, keeping its communicative
favourite, was able to recreate his work live at
power but at the same time turning it into
a truly amazing location: the city of Venice. The
a simple graphic sign. So I took the words
Santa Lucia railway station provided the setting
which were important to me for the contest:
for a day to remember, during which Riccardo,
“network”, “Internet” and “information”. I put
professionally known as New-R, recreated
them together on a piece of paper, in a simple
the graphic layout of contomax step by step,
and spontaneous manner. As Crozza says – if
representing its concept of network and
you get it, it’s a chair, if you don’t, it’s design!!”
collaboration… But the artist was not alone.
There were also some unexpected turn of
Around him, a crew of colourful and young hip
events during the day: after eight hours of
hop dancers performed a series of flashmobs
hard work, two “thieves” stole the artwork.
that gave rhythm to the day and further
There were moments of despair, but Riccardo
involved the crowd of bystanders who stopped
kept his cool. During the official awards
to watch both Riccardo at work and the dancers.
ceremony held at Villa Furstenberg, Banca
All broadcast in real time on the Web, in the
IFIS’s headquarters in Mestre, the artwork
perfect 3.0 spirit of the project, thus spreading
reappeared, returned by the likeable “thieves”,
the StreetNetwork mood in the virtual world
to the joy of everyone attending the ceremony.
as well: fast, immediate and with high impact.
The event was hosted by Mauro Lupi, expert in
Riccardo Bernucci’s artwork passed the selection
communication and social media marketing.
by a specialized panel of judges, led by the art
We would like to thank all those who made
critic Fabiola Naldi, and then, together with the
this very special day possible, part of a project
other finalists, faced the Web’s opinion. 22 years
that has originated and will continue to grow
old, Riccardo is currently studying industrial
thanks to the interaction with the community
design at the Faculty of Architecture of Genoa.
and with the Internet: thanks to the desire to
He approached the art of “writing” when he was
exchange views with the users and get them
just 16 years old. We asked him where he got
involved, for a crowd and co-creation future.
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06
04
3.0 Bank: WebTV and much more
Banca IFIS, in line with its innovating nature,
The Group can also be found on social networks
has launched an instrument that will allow
such as Pinterest, Google+ and Slideshare.
all Internet users to stay up-to-date with
Not to mention the blogs Salvarisparmio.com
activities being carried out by the Group’s
and MondoPMI.com, dedicated, respectively,
various
to the two topics of savings and Small and
The
The Group’s latest
social initiatives
divisions:
platform
has
tvchannel.bancaifis.it.
a
twofold
function.
Medium-sized Enterprises. In the first case,
It represents a “showcase” that brings together
current events, analyses covering a wide
all the videos taken during the presentations
range of topics and readings accompany
of financial data, events in which the Group is
Internet users an additional point of view
involved and the promotion of new products
on evaluating expenses and investments and
associated with the Bank. Moreover, in time it will
also gives small tips on savings. MondoPMI,
become the official Academy within the Group,
on the other hand, supports the exchange of
with contents that will be constantly updated:
ideas and is a useful source of information: a
an e-learning service, consisting of video-
meeting point to talk about credit, corporate
lessons, tutorials, conferences and workshops,
financing and administrative news. During
will be available to all registered employees.
the Christmas holidays, through the Natale
WebTV is only the latest step taken in the
Impresa initiative it voiced the entrepreneurs’
world of the Web by Banca IFIS. Below, a
desires and requests, in order to identify ideas,
detailed list of the channels used by the Group.
needs and creativity of professionals working
for Small and Medium-sized Enterprises
•LINKEDIN: Banca IFIS has over 2,300
(over 4,500 unique visitors during the pre-
followers on the website par excellence
Christmas period, a 60% increase in blog
dedicated to professional networks. Moreover,
visits, and a reached base of Twitter users of
Banca
precisely
approximately 60,000 contacts). Thanks to
by LinkedIn as a success story in Italy.
the ideas submitted by the visitors, a series of
•FACEBOOK: a total of 5,000 fans on the
initiatives will be launched (both of a publishing
pages of the various rendimax, contomax
nature and in the form of events) during 2013.
and
savers
The first project is the section dedicated to
and fans interact with us on a daily basis.
interviews with entrepreneurs, which aims at
•TWITTER: 1,000 followers for the contomax,
highlighting success stories and sharing the
IFIS
Banca
was
IFIS
mentioned
profiles,
where
rendimax, Banca IFIS and MondoPMI profiles.
•YOUTUBE: 39 videos uploaded, with 28,000
visualizations.
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entrepreneur’s stories, choices and journeys.
07
05
Social recruiting catches on
New job openings at Banca IFIS
The dynamic evolution of the Banca IFIS
Autumn 2011, when it created a page where
Group continues, along with the search for
all of its divisions and brands are represented.
talent to add to its workforce. The Bank
Personnel searches are identified by division.
addresses both youngsters, for whom it
Videos are widely used for employment
provides training and professional growth
searches, with the employees themselves
within its organization, and senior figures,
being featured in the videos as they explain
who
experience.
the requirements for the professional figures.
Currently, there are various job openings:
According to the words of Giovanni Bossi,
Oracle Database Administrator, Senior Software
C.E.O. of Banca IFIS: “We feel that this creates
Details of these
Tester and IT Security Systems Analysts – all in
a long-lasting value for the entire company,
positions can be
Venice; Customer Manager - Banca IFIS Division
conveying what it really means to work for our
found on the website
in Brescia; Sales Manager - Banca IFIS Division
Group in a more complete and direct manner.”
and in the Careers
in Bari, Triveneto and Milan; Export Sales
The challenge that the Bank has set for itself in
section of the
Manager – International Division again in Milan.
the use of social media is to create long-lasting
Linkedin page
We would like to develop the Linkedin function
value by listening to the market and seeking its
in terms of the Banca IFIS recruiting campaign.
involvement, putting the ability for a reaction
The Group joined the world of Linkedin in
to, and adaptation of, its products on the line.
Work with us
can
contribute
their
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08
06
by Andrea Clamer
Head of the Toscana
Finanza – NPL Division
What are “NPL” exactly?
The non-performing loans market in Italy is
has acquired 2,500 portfolios, for a total
growing and has reached a considerable size.
of 30 million accounts, managed by 3,000
It can be studied from various angles: From
employees, with excellent results (in 2011,
the demand side, we can identify all those
it posted proceeds of USD 705 million and
operators willing to purchase or process the
a net profit of about USD 100 million). PRA
“goods”, which are the loans; From the supply
identifies its ability to convert information
side, we can identify all those subjects that
about loans and debtors into operational
disburse loans and then see these turn, for
recovery decisions, describing information as
various reasons, into non-performing loans.
“raw material” and decisions as the “finished
If we analyze the loans themselves, they vary
product”, as the main reason for its success.
depending on the underlying product and on
We can say that the development of skills in
the debtor. This allows us to understand how
the dynamic management of loans and in
difficult it is to precisely identify the NPL
the workout process will be a critical success
market. In Italy, there is a small number of
factor and must be accompanied by a portfolio
local operators and an ever-growing number of
segmentation aimed at improving the quality
foreign operators with high levels of liquidity
of data and at setting up successful recovery
and a developing industrial capacity. NPL
strategies. And this is most certainly the
means finance and industry, permanently
approach and the direction that both Toscana
united, because when one of the two aspects is
Finanza and IFIS are taking, with over 20 years of
missing, profit margins are just a pipe dream.
experience, standing apart thanks to their ability
Finance, in relation to the ability to operate on
to evaluate and purchase significant portfolios.
the acquisitions market, ready to invest huge
Furthermore, the Group has set up an excellent
amounts of money, that will be tied up long-
database containing specific information about
term, according to the type of assets purchased
hundreds of thousands of accounts. Today,
and on management skills.
Toscana Finanza has its place among market
Industry, in the ability to enrich the dossiers
leaders with a business model based on the
bought from an information standpoint and to
ability to manage both the loans acquisition
increase their likelihood of a positive outcome.
and management phases excellently. At the
As often happens in the financial sector, the
beginning of the year, important portfolios
Italian context is still behind the Anglo-Saxon
were purchased from two large international
one.
In the United States and the United
banking groups, while a third agreement was
Kingdom, companies are operating in a market
signed at the end of June. During the year, the
that does not seem to show any signs of a crisis.
activity intensely focused on strengthening the
One example is the Portfolio Recovery
processes, resources and instruments applied
Association, an American company whose
in the management of loan accounts, which
primary goal is investment in unsecured retail
totalled 400,000 at the end of the period.
portfolios; since its founding, this company
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09
07
MondoPMI
For information:
www.mondopmi.it
The blog for
companies
Enterprises’ World
Encouraging meetings, exchanges, interaction
edition, during which investors were able to
and conversation means building value. And
assess the attractiveness of, in financial terms,
doing it together with other entrepreneurs,
and consequently the possibility of investing in,
speaking out for them and building a
the companies that took part in the meetings
constant dialogue, enhances its outcome.
(Banca IFIS, CAD IT, Delclima, De’ Longhi,
The year that just ended was full of events
Eurotech, Luxottica, Nice, Save, Servizi ITALIA,
and initiatives that led companies and
Sabaf, Safilo, Stefanel and Zignago Vetro). The
entrepreneurs to meet, both via the Internet and
Project “Veneto & Abruzzo”, was dedicated
at Villa Furstenberg, the Bank’s headquarters.
to the development of the economy and
The calendar of events was especially full in
enterprises of the Veneto and Abruzzo regions.
the last months of the year: first, the meeting
The Bank’s desire to put itself on the line and
“The silent revolution of the markets.... and
be there for near the entrepreneurs also went
the weapons used by enterprises”, organized
on the Web. Through a daily activity, it fed the
in collaboration with the Salone d’Impresa,
conversation on the Web through initiatives
followed by the “One Day in Venice”, organized
tied to social networks and blogs. It will be
together with Centrobanca, and the Project
an intense year, kicked off with the launch of
“Veneto & Abruzzo”. The first event provided a
a new section of the MondoPMI blog, entirely
chance to discuss and take a close look at concepts
dedicated to interviews with entrepreneurs
such as planning, innovation and proactivity,
in order to highlight success stories and to
the only “weapons” available to companies as
share the entrepreneurs’ stories, choices and
they attempt to deal with market difficulties.
journeys. The publishing collaborations will
The event “One Day In Venice”, now in its third
continue with the Bank’s partners. We have
edition, made it possible for 13 companies
seen that enterpreneurs’ preferred arguments
listed on the Italian Stock Exchange, also
referring to bureaucracy, to the search for
known as Piazza Affari, expression of the
stability in their work as the safeguard for
entrepreneurial nature of North-Eastern Italy
healthy growth, to the strength of corporate
and, specifically, of the Veneto region, to meet
networks in dealing with the competition and
with Italian and international institutional
to the need for proactivity and innovations
investors. More than 85 meetings were
at all levels in order to stay on the market.
scheduled, double the number of the previous
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10
08
On the agenda
The upcoming Banca IFIS corporate events of
IFIS’s CEO Giovanni Bossi will have the
the Group include:
opportunity to have a series of one-toone
meetings
with
various
investors;
• from 23 to 27 January Banca IFIS will again
take part in the World Economic Forum, the
• from 8 to 10 March, in Cernobbio, will take
organization that brings together the major
place the meeting “Leader of the Future”, held
political and economic executives, intellectuals
during the workshop “The scenario of the
and other international business figures in order
financial markets, of their governance
to create better conditions at the global level.;
and of finance”. Banca IFIS participates in the
meeting, which is held at the same time as the
• on 8 and 9 February, in Bergamo, Banca
annual workshop wich represents a valuable
IFIS will participate in Assiom Forex’s
opportunity to stay up-to-date on economic-
19th Annual Congress, which represents
financial issues as well as, contemporarity
a chance for an exchange of views, ideas
offering, a chance for networking among
and opinions between finance operators
youngsters who are interested in these topics
and institutions. Bank of Italy’s Governor
or who deal with them in their profession. Just
is scheduled to speak on 9th February;
like in the main workshop, the programme will
feature some of the top experts and managers
• on 19 and 20 February; Banca IFIS will
participate in the 6th edition of Frankfurt’s
European Midcap Event, where Banca
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of the most important economic and financial
institutions, both national and international.
11
Financial Calendar
To be defined.
Banca IFIS’s shares on the stock market
Price on 28/12/2012
5,530 €
365 day Min-Max
Min 3,678 € – Max 5,64 €
Number of shares issued
53.811.095
Capitalization
297.575.355,35 €
1 month performance
+2.83%
6 month performance
+13,03%
1 year performance
+41,00%
Dividend paid
0,250 €/share (07/05/2012)
Specialist
Centrobanca
In the light of the results the Group achieved in the first nine months of 2012, its shares have increased
in value considerably. This can be seen in the latest financial reports and updates, published by various
companies and agencies, such as WEBSIM, Edison e Centrobanca.
Shareholders’ breakdown
31 December 2012
Sebastian Egon Furstenberg In circulation
Giovanni Bossi Riccardo Preve Treasury shares
68,9%
24,7%
3,4%
2,4%
0,6%
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12
09
Contacts
Coverage by analysts
Marco Opipari
Marco Cavalleri
Centrobanca, Gruppo UBI Banca
Banca Akros
[email protected]
[email protected]
_
_
Mark Thomas
Edison, Investment Research
[email protected]
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Contacts
https://twitter.com/BancaIFIS
Website: http://www.bancaifis.it
http://www.facebook.com/Banca.IFIS
Website of 2011 financial statements:
http://www.linkedin.com/company/banca-ifis
http://bilancio.bancaifis.it
http://www.youtube.com/user/BancaIFIS
Investor contact: Mara Di Giorgio
http://tvchannel.bancaifis.it/
Email: [email protected]
Tel. +39 041 502 7623
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