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An introduction to the UBI Banca Group giugno 2014_Presentazione_… · Background UBI Banca is a...
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An introduction to the UBI Banca Group July, 2014
Transcript of An introduction to the UBI Banca Group giugno 2014_Presentazione_… · Background UBI Banca is a...
An introduction
to the UBI Banca Group
July, 2014
This document has been prepared by
Unione di Banche Italiane Scpa (“UBI”) for
informational purposes only.
It is not permitted to publish, transmit or
otherwise reproduce this document, in
whole or in part, in any format, to any third
party without the express written consent
of UBI and it is not permitted to alter,
manipulate, obscure or take out of context
any information set out in the document.
The information, opinions, estimates and
forecasts contained herein have not been
independently verified and are subject to
change without notice.
They have been obtained from, or are
based upon, sources we believe to be
reliable but UBI makes no representation
(either expressed or implied) or warranty
on their completeness, timeliness or
accuracy.
Nothing contained in this document or
expressed during the presentation
constitutes financial, legal, tax or other
advice, nor should any investment or any
other decision be solely based on this
document.
This document does not constitute a
solicitation, offer, invitation or
recommendation to purchase, subscribe
or sell for any investment instruments, to
effect any transaction, or to conclude any
legal act of any kind whatsoever.
This document may contain statements
that are forward-looking: such statements
are based upon the current beliefs and
expectations of UBI and are subject to
significant risks and uncertainties. These
risks and uncertainties, many of which are
outside the control of UBI, could cause the
results of UBI to differ materially from
those set forth in such forward looking
statements.
Under no circumstances will UBI or its
affiliates, representatives, directors,
officers and employees have any liability
whatsoever (in negligence or otherwise)
for any loss or damage howsoever arising
from any use of this document or its
contents or otherwise arising in
connection with the document or the
above mentioned presentation.
For further information about the UBI
Group, please refer to publicly available
information, including Annual, Quarterly
and Interim Reports.
By receiving this document you agree to
be bound by the foregoing limitations.
Please be informed that some of the
managers of UBI involved in the drawing
up and in the presentation of data
contained in this document either
participated in a stock option plan and
were therefore assigned stock of the
company or possess stock of the bank
otherwise acquired. The disclosure
relating to shareholdings of top
management is available in the half year
and the annual reports.
Methodology
All data are as at 31st March 2014 unless
otherwise stated.
Disclaimer
Page 1
Agenda
The UBI Banca Group
Background
UBI Banca and its Peers
UBI Banca’s profile in a snapshot
The Group Structure
Presence in Italy
The UBI Banca International Network
Contacts
Annexes
Page 2
Background Unione di Banche Italiane Scpa (“UBI Banca”) was formed following the merger of the BPU Banca and Banca
Lombarda e Piemontese Groups (1st April 2007)
The history of UBI Banca is marked by a succession of mergers which have led banks with strong roots in local
communities to become the significant reality that exists today and employs approximately 18,300 people.
1888 Birth of the “Banca San Paolo di Brescia” (BSPB)
1883 Birth of the “Credito Agrario Bresciano” (CAB)
1963 BSPB acquires “Banca di Valle Camonica” (BVC)
1998 Merger of CAB and BSPB with the creation of “Banca Lombarda” as parent company and contribution of branch network of CAB and BSPB to “Banco di Brescia”0
2000 Acquisition of “Banca Regionale Europea”* by Banca Lombarda. The Group takes the name of “Banca Lombarda e Piemontese Group”
Birth of the “Banca Mutua Popolare della Città e Provincia di Bergamo” , subsequently renamed “Banca Popolare di Bergamo” (BPB) 1869
Birth of the “Società per la Stagionatura e l’Assaggio delle Sete ed Affini” subsequently renamed “Banca Popolare Commercio e Industria” (BPCI) 1888
Merger of BPB and “Credito Varesino” (BPB-CV) 1992
Acquisition of “Banca Popolare di Ancona” (BPA) by BPB-CV. Birth of the BPB-CV Group 1996
Acquisition of “Banca Carime” by BPCI 2001
Birth of the “BPU Banca Group” from the integration of BPB-CV and BPCI 2003
1st April 2007 Birth of “UBI Banca” following the merger of the BPU Banca Group and the Banca Lombarda e Piemontese Group
* Banca Regionale Europea was created in 1994 following the merger between “Cassa di Risparmio di Cuneo” and “Banca del Monte di Lombardia” Page 3
Background
UBI Banca is a “popular” bank with the legal status of a joint stock co-operative company. According to its by-laws, each registered shareholder has the right to cast one vote (to become a registered shareholder it is necessary to possess and hold at least 250 shares). There is therefore no reference shareholder*. UBI Banca is the only listed bank in the Group No one may hold shares amounting to more than 1% of the share capital (with the exception of collective investment companies) On the basis of the latest update of the shareholders’ register, registered shareholders number 77,500. If non registered shareholders are also considered, total shareholders (registered and unregistered) number above 151,000. UBI Banca’s governance model is based on a “dualistic” system. Under this dualistic governance system a shareholders’ meeting appoints a Supervisory Board (strategic policy-making and supervision), which then appoints a Management Board (day by day management of the company)
The said principles
are equally applied
to listed and non-
listed popular banks
Page 4
* A distinction is made between registered shareholders, a status acquired following acceptance decided by the Management Board and enrolment in the shareholders’ register with the right to participate in shareholders’ meetings, and non registered shareholders whose rights are financial only. For the purposes of acceptance as a registered shareholder, certificates testifying to the ownership of at least 250 shares must be presented, while should they no longer be held, this shall result in the loss of registered shareholder status in accordance with the law
Market Capitalisation as at 27th June 2014
(EUR bln) Source: “Il Sole 24ore” – Italian Financial Newspaper –
dated 28th June 2014
37.4 36.2
3.0 4.6 2.2
5.9 ~7.5**
** Market capitalization calculated on last price of rights on 20th June 2014 (capital increase for 5 bln€ to be completed)
UBI Banca and its Peers Total Assets as at 31st March 2014 (EUR bln) Customer Loans as at 31st March 2014 (EUR bln)
No. of Branches as at 31st March 2014
Page 5
Unicredit Group
Intesa San Paolo
Monte dei Paschi di Siena
Banco Popolare
UBI Banca
Gruppo BPER
Banca Popolare di Milano
Unicredit Group
Intesa San Paolo
Monte dei Paschi di Siena
Banco Popolare UBI
Banca
Gruppo BPER
Banca Popolare di Milano
Unicredit Group
Intesa San Paolo
Monte dei Paschi di Siena
Banco Popolare
UBI Banca
Gruppo BPER
Banca Popolare di Milano
485
339
86 46
33
131 87
4th
7,921 6,134
1,730 1,302
716
2,373
1,990
5th
842
625
61
201
124
5th
127 49
Total Direct Funding as at 31st March 2014 (EUR bln)
Unicredit Group
Intesa San Paolo
Monte dei Paschi di Siena
Banco Popolare
UBI Banca
Gruppo BPER
Banca Popolare di Milano
560
372
89 46
36
129 91
4th
Source: Press releases.
Page 6
UBI Banca’s profile in a snapshot: predominant retail business, solid capital
base and low risk profile
Strong competitive positioning
Solid Capital and Balance
Sheet Position
Good Asset Quality
Low Risk Profile
Focus on traditional banking activities: Customer loans/total assets at 70.2%
Funding mainly from own customer base (approx. 80%); limited recourse to institutional markets (MTNs, CBs, CP, CD and Preference shares altogether represent approx. 16% of total funding)
Financial assets/total assets: 18.7%. Italian Govies represent 17.0% of total assets
1st Italian cooperative banking Group by market capitalization
EUR 87.1 bn customer lending and EUR 90.8 bn direct funding (loan/deposit ratio: 95.9%)
As at Dec 2013, 81.6% of loans to customers were granted in Northern Italy, 10.1% in Central Italy and 8.3% in Southern Italy, while 72.6% of customer deposits came from Northern Italy, 12.4% from Central Italy and 15% from Southern Italy*
Capital ratios as at 31 March 2014: CET 1 ratio (phased in):12.2%; CET 1 ratio (fully loaded) under Basel 3 rules: 11.2%
Low Leverage ratio (tangible assets / (tangible equity+non-controlling interests+net result for the period)): 14.1X. Applying Basel 3 requirements, leverage ratio (tier one capital / (on- and off-balance-sheet assets)) stands at 5.16% as at 31 Dec 2013
Sound Liquidity position: The Group already complies with the Net stable Funding Ratio and Liquidity Coverage Ratio as per Basel 3 requirements (also net of LTRO)
Good asset quality compared to the Italian banking system (Net NPLs (“sofferenze”) /Total Loans 4.07%; Italian Banking system 4.27%)
Annualised cost of credit of 91 bps of total loans
Figures as at 31st March 2014 unless otherwise stated
* Data referred to banking perimeter only.
The Group Structure
8 DOMESTIC NETWORK BANKS
ASSET MANAGEMENT UBI Pramerica (partnership with Prudential US)
MAIN PRODUCT COMPANIES
316 branches
212 branches
66 branches
21 branches 677 fin. advisors
100.00%
74.75% (2)
100.00%
82.96% (3)
1) moreover, 8.69% of capital held by Aviva, 16.23% of capital held by Fondazione Banca del Monte di Lombardia 2) further 24.90% of Banca Regionale Europea capital held by Fondazione Cassa di Risparmio di Cuneo and the rest by minority shareholders 3) moreover, 6.38% of capital held by Cattolica Assicurazioni and the rest by minority shareholders 4) moreover, 6.49% of capital held by Aviva and the rest by minority shareholders 5) moreover, 7.15% of capital held by Aviva and the rest by minority shareholders
FACTORING UBI Factor
LEASING UBI Leasing
NON-LIFE BANCASSURANCE UBI Assicurazioni (partnership with BNP Paribas/Ageas)
LIFE BANCASSURANCE * Aviva Vita (partnership with Aviva) Aviva Assic. Vita (partnership with Aviva) Lombarda Vita (partnership with Cattolica)
ON LINE TRADING IW Bank
UBI BANCA provides management, co-ordination, control and supply of centralized services to the network banks (single IT System, centralised risk management, centralised finance and treasury, commercial coordination, credit coordination, logistics,
purchasing, on line banking, etc...)
Northern Italy
Southern Italy
213 branches
242 branches
93.01% (4)
92.84% (5)
Central Italy
353 branches 100.00%
244+3* branches
75.08% (1)
Page 7
*Redefinition of Aviva partnership and minorities structure announced on 16 April 2014, expected to be completed
within end 2014 (see related press release)
Ownership Information updated as at 31 March 2014 N. of branches updated as at May 2014; * indicates branches outside Italy
Page 8
Presence in Italy
1,673 branches in Italy + 6 branches abroad
(as at May 2014)
* Market shares calculated as at 31st Dec 2013 .
1
196
47
795
1
35
10
44
7
1
92
101 84
6
27
17
81
110
18
Approx. 3.7 million clients, mainly retail
1,673 branches, of which 795 in Lombardy (which
generates over 20% of Italian GDP)
Market share in terms of branches above 20% in
some of the richest Provinces such as Bergamo,
Brescia and Varese
National market share of 5.4% in terms of branches
Introduction to the UBI Banca Group: Predominant Retail Business and Strong Northern Italian Franchise
Market Shares* %
Branches Current
accounts & deposits
Loans
Bergamo 22.1 29.4 40.4
Brescia 22.5 27.5 35.0 Varese 23.4 27.4 20.9
Cuneo 24.0 19.3 15.6
Agenda
UBI Banca International Network
International Network
Presence in the world
Page 9
International Network
Page 10
MENTON, NICE AND ANTIBES
(Banca Regionale Europea) KRAKOW
(UBI Factor)
SHANGHAI
(Zhong Ou Asset
Management Company)
UBI TRUSTEE SA
(Luxembourg)
LUXEMBOURG
MADRID
MUNICH
MOSCOW
MUMBAI
HONG KONG
SAO PAULO
SHANGHAI
VIENNA
(Business Consultant)
SUBSIDIARIES
FOREIGN BRANCHES
COMMERCIAL BANKS
FOREIGN BRANCHES
SUBSIDIARIES BRANCHES
REPRESENTATIVE
OFFICES
FOREIGN BANKS
Head office in Luxembourg
Presence in the world
Luxembourg
• UBI Banca International
• UBI Trustee SA
Page 11
Munich
UBI Banca International
Branch
Krakow
UBI Factor Branch Vienna
Business Consultant
Moscow
Representative Office
Mumbai
Representative Office
Hong Kong
Representative Office
São Paulo
Representative Office
Madrid
UBI Banca International
Branch
Antibes, Menton, Nice
Banca Regionale Europea
Branches
Shanghai
Representative Office
Shanghai
Zhong Ou Asset Management
Company Co. Ltd*
* Joint-venture in which UBI Banca holds 35% of the total share. (Other partners: Guodu Securities Co. Ltd. holds 30% of the total share, Beijing Baijun Investment Co., Ltd holds 30% of the total share and WinnerKey Investment Co. Ltd holds 5% of the total share). At 31st December 2013, the ex Lombarda China Fund Management Co., actives in the management of retail funds and of IPO, handled an AUM of 14.5 billions of Rmb (about 1.7 billions of euro).
Agenda
Contacts
UBI Banca Correspondent Banking
Representative Offices Contacts
Page 12
UBI Banca
Alistair Newell Area Manager
Marco Camozzi Area Manager
Ernst Rolf Hartmann Area Manager
Lorenzo Tassini Area Manager
Western Europe:
UK
IRELAND
CYPRUS
GREECE
MALTA
BANGLADESH
INDIA
MALDIVES
PAKISTAN
SOUTH EAST EUROPE
SRI LANKA
BALTIC COUNTRIES
SCANDINAVIA
ICELAND
LATIN AMERICA
CARIBBEAN
EASTERN EUROPE
ISRAEL
AUSTRALASIA
ASIA
NORTH AMERICA
RUSSIA AND CIS COUNTRIES
Western Europe:
AUSTRIA
GERMANY
SWITZERLAND
AFRICA
MIDDLE EAST
TURKEY
Page 13
Correspondent Banking - [email protected]
Sergio Passoni Head of Global Transaction and Operations
Western Europe:
PORTUGAL
SPAIN
BELGIUM
FRANCE
LUXEMBOURG
NETHERLANDS
VATICAN CITY
MONTE-CARLO
Western Europe:
CYPRUS
GREECE
IRELAND
MALTA
UK
Isabella Moavero - Head of Correspondent Banking and Representative Offices
Representative Offices Contacts
HONG KONG
Mr Andrea Croci
Suite 2911, Tower Two,
Times Square 1, Matheson St. -
Causeway Bay Hong Kong - S.A.R.
Tel. +852 2878 7393
Fax +852 2878 7932
MUMBAI
Ms Rajeshree Balsari
92 Mittal Chambers, 9th Floor,
Nariman Point,
400 021 Mumbai - India
Tel. +91 22 22023601
Fax +91 22 22023603
SHANGHAI
Ms Lu Bo
The Center
Suite 3304
989, Changle Road
200031 Shanghai – China
Tel +86 21 61675333
Fax +86 21 61675582
MOSCOW
Mr Ferdinando Pelazzo
10, Nikolskaya str., 4th floor,
Business Centre “Nikolskaya Plaza”
109012 Moscow - Russia
Tel. +7 495 725 4466
Fax +7 495 725 4465
SAO PAULO SAO PAULO
Mr Isidoro Guerrerio
Al. Ministro Rocha Azevedo,
456 Ed. Jaù - 4° And.Cj.402
CEP 01410-000 São Paulo -
Brazil
Tel. +55 11 3063 0454
Fax +55 11 3063 3785
VIENNA (Business Consultant)
Ms Annick Stockert
Seilerstätte 16/11
1010 Vienna
Austria
Tel. +43 1 514 37 26
Fax +43 1 514 37 60
Page 14
Agenda
Annex
Foreign Banks
Product Companies
Group Results
Group BIC codes
Page 15
Foreign Banks
Page 16
Qualified and specific services offered to Corporate customers:
establishment of international companies
trustee operations and corporate financing
payment services
corporate and syndicated loans
issuance of bonds and international guarantees
cash pooling
factoring
Services offered to Private customers:
wealth management and investment advisory;
heritage and personal wealth planning with tailor made financial engineering solutions;
investment Funds and Sicav;
financial and asset planning with tailored engineering solutions;
term deposits in all major currencies,;
trading and safekeeping of securities on all the major stock and bond markets;
spot and forward foreign exchange transactions;
services for the establishment of Trust Companies through UBI Trustee SA based in Luxembourg.
Leasing
UBI Leasing offers its clients financing for asset acquisition such as: instrumental
leasing, real estate leasing, car leasing, aero naval leasing as well as specific
insurance and accessory services.
7.4 bln EUR in net Loans to Customers
Data as at 31.12.2013
Product Companies
Factoring
UBI Factor offers highly specialized factoring services to companies and public
administrations. The company is based in Milan with a capillary structure across the
national territory and is present also in Poland with its Krakow subsidiary. Since 1984
UBI Factor is part of the Factors Chain International network which allows it to retain a
presence in more than 75 countries and with more than 270 foreign partners.
7.6 bln EUR Turnover; 2.3 bln EUR net Loans to Customers
Page 17 Data as at 31.12.2013
Asset Management – Joint Venture with Prudential US
UBI Pramerica develops, manages, markets and distributes a wide range
of financial products and services dedicated to private customers and institutions. It
has been awarded various international prizes.
27.8 bln EUR in Assets Under Management
Online Trading
IW Bank is a market leader in online trading in Italy with a strategy based on
three fundamental objectives: continuous product/service innovation, constant
development of technological platforms, professional support for the customer.
6.8 mln of transactions executed over the period (FY13)
UBI Banca Main Consolidated figures
Page 20
Liquidity buffer: Eligible Assets as at 5th May 2014: € 33.2 bln (of
which € 19.6 unencumbered representing approx. 46% of Short Term Deposits
Lending volumes trends vs. Dec 2013 show a decrease of 1.5% reflecting weakness in GDP and low demand
Net of volatile CCG (Cassa di Compensazione e Garanzia, Italian Clearing House) repos, Direct Funding grows by 2.7% vs Dec. ‘13, driven by bond issuances both to ordinary customers of the Network Banks and to institutional investors
As at 31 March 2014, Loan to Deposit Ratio: 95.9%
Main balance sheet
figures Figures in millions of euro
Dec 2013 Mar 14
Loans to customers 88,421 87,095
Direct funding 92,604 90,844
of which: Direct Funding from Ordinary
Customers (current accounts + retail
bonds)
74,660 74,920
of which: Direct Funding from
Institutional Customers 17,944 15,924
Net Interbank exposure (not included in Direct Funding – mainly
LTRO)
10,888 11,389
Total assets 124,241 123,983
Loans to customers / total assets 71.2% 70.2%
Indirect funding (AuM + AuC) 71,652 73,392
of which: AUM 39,554 39,796
of which: AUC 32,098 33,596
Page 19
Page 20
1Q14: improving profitability and cost control confirmed
€ mln
*
* Loan loss provisions at 198.6 mln euro in 1Q14. In terms of cost of credit, they correspond to 91 bps for the UBI Banca Group vs. an average 108 bps for the other 6 major
Italian banking Groups reported in slide n° 5
Group BIC codes
Page 21
BEPOIT21
BCABIT21
BREUITM1
POCIITM1
BPAMIT31
CARMIT31
BVCAIT21
BLPIIT21
UBIBESMM
BEPODEMM
BLOPIT22
CABILULL Madrid Branch
Munich Branch
BIC ACTIVE
BIC NON ACTIVE
