3 August 2018

APPROVED THE RESULTS FOR THE FIRST SIX MONTHS OF 2017

Highlights– Results of the first half of 2018
RECLASSIFIED DATA: 1 January – 30 June
– Net banking income: 278,1 million Euro (+9,8%);
– Net profit from financial activities: 238,1 million Euro (+10,3%);
– Operating costs: 144,2 million Euro (+20,7%);
– Net profit for the period: 66,2 million Euro (-36,1%);
– Credit risk cost of the Enterprises segment: 138 bps;
– Enterprises segment’s gross -impaired loan ratio: 10,5%;
– Total Group employees: 1.577 people (+173 people compared to 2017);
– Common Equity Tier 1 (CET1) Ratio: 15,13% (15,64% at 31 December 2017);
– Tier1 (T1) Capital Ratio: 15,13% (15,64% at 31 December 2017);
– Total Own Funds Capital Ratio: 20,28% (21,07% at 31 December 2017).

Highlights– Results of the second quarter of 2018
RECLASSIFIED DATA 4: 1 April – 30 June
– Net banking income: 138,7 million Euro (-7,3%);
– Net profit from financial activities: 109,7 million Euro (-33,1%);
– Operating costs: 70,8 million Euro (+10,9%);
– Net profit for the period: 28,4 million Euro (-60,0%);

Mestre (Venice), 3 August 2018 – The Board of Directors of Banca IFIS (Fitch BB+, outlook stable) met today under the chairmanship of Sebastien Egon Fürstenberg and approved the interim financial report for the first half of 2018.

“In the first six months of the year, we were extremely active in each segment, evolving our individual businesses, supporting firms that can now work with more confidence and sustainable business models”, says Giovanni Bossi, Banca IFIS CEO. “The Group has developed new alliances to accelerate the growth of the leasing business, working together with high-standing partners. Always concerning the leasing segment, innovation led us to replace our technological platform as well as improve and streamline all operational processes.

We acquired control of Credifarma—to be consolidated in the second half of 2018—to strengthen our presence in the pharmacy lending sector. In the first six months of the year, we announced the acquisition of the servicer FBS and finalised the acquisition of 100% of CapitalFin. This allows the Group to enter the salary-backed loan business, supporting the NPL segment. Finally, in July we launched a new initiative in the insurance sector. The economic and other benefits of all these activities will start materialising in the second half of 2018.

As for NPLs, in July the Group finalised the acquisition of non-performing loan portfolios with a par value of nearly 600 million Euro. Over the next few months, special emphasis will be placed on providing new debt restructuring solutions to entities that currently hold UTPs, so as to identify the best possible solutions to give new momentum to Italian businesses.

Unfortunately, in the second quarter—concludes Giovanni Bossi—our performance was affected by a series of particularly material events that are unlikely to happen again with the same intensity. I am happy with the results of our ordinary activities in the first six months of 2018, and we confirm our guidance across all businesses for the second half of the year”.

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