NPL. Domestic vs International. 3 rd International Workshop on the non-performing loans sector 3 RD NPL MEETING SEPTEMBER 2014

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1 Newsletter June 2014_Quarterly newsletter _ The heathcare market in Italy by Silvia Magliocchetti 02_Positive performance in the 1 st quarter! 03_Banca IFIS guests at About Pharma convention Towards the unblocking of PA receivables. 04_Gruppo Banca IFIS: the new brand identity 05_ Domestic VS International : on the September 19 the 3 rd NPL Meeting 06_30 years of IFIS: an Ebook tells the story 07_Technology Forum, the importance of returning to human values 08_IFIS #Job: available positions 09_Calendar 10_Contacts 3 RD NPL MEETING 19 SEPTEMBER 2014 NPL 3 rd International Workshop on the non-performing loans sector Domestic vs International Banca IFIS s Headquarters - via Gatta, 11 Mestre (Venice)

2 02 01 The healthcare market in Italy: Legislative decree 66 and P.A. payment times by Silvia Magliocchetti Silvia Magliocchetti Head of Banca IFIS Pharma The Healthcare market in Italy is a very particular case. Very often pharmaceutical companies or midsize businesses find themselves in trouble because of public administration payment times, which in some regions may exceed 190 days. Pharmaceutical expenditure is certainly a significant percentage of the debts of the P.A. towards enterprises, and has become the object of attention of the Renzi government, although to date there are only statistical estimates and the exact figure is not known. In this regard, on April , the MEF (Ministry of Economy and Finance) initiated the survey of liquid and enforceable receivables at 31/12/2013. The assistance of Banca IFIS Pharma, completely dedicated to supporting the trade receivables of large local health authority suppliers, is a strategic choice to support the entire pharmaceutical and healthcare supply chain. We aim to become the perfect partner for all the players in this sector, from those who work in manufacturing to those who provide services or medical devices, regardless of their size, sustaining them in their needs; pharmaceutical companies as well as medium-sized enterprises in the sector, waiting for payment from the National Health Service, may decide to cede their receivables to Banca IFIS. From that moment, the receivables stop having a financial and accounting impact on the enterprises and this leads to an improvement in budget, enables better planning, reduces insolvency and improves cash flow. It is a fluid and streamlined service that allows you not to weigh on the operations of the originator. With a watchful eye on the market and on businesses organisations in a constant state of change we aim to offer a dynamic, innovative service, even though non-resource factoring is already an established process. Italy, although far from European standards, seems more aware of the problem of late payments and is slowly dropping out of the ranking of the world s bad payers. The Renzi government is also taking a step in this direction, with the legislative decree 66/2014, regarding P.A. debts, recently passed into law: I hope that on the strength of the Spanish example virtuous mechanisms will be favoured that allow the adjustment of the timing of payments as required by European legislation. Simple cash injections, not supported by a structural and organizational growth do not guarantee the overall improvement of the P.A.

3 03 02 Positive performance in 1 st quarter, profitability SMEs business up +84% The other images of the 1Q results are available on Banca IFIS Twitter 1 ST QUARTER January - 31 March MAR 31 The performance of the market in the first quarter of 2014 confirms that the recovery is real, albeit fragile said CEO, Giovanni Bossi. The improved credit quality, the growth in the number of customers and the new resources that joined our staff will be the key drivers enabling us to achieve the challenging goals we have set for ourselves. We performed strongly in the first quarter, but if we will be able to move fast and seize the opportunities offered by the market, the Group will create further value for its stakeholders. Profit for the period up +9,9% to 24,7 million Euro Net result from financial operations up 14,7% to 61,0 million Euro Non-performing loans ratio in the Trade Receivables sector: 2,4% compared to 2,6% (December 2013) Total Own Fund Capital Ratio 14,97% Number of employees up to 572 (from 465 at 31 March 2013, +23%) 1Q14. CONSOLIDATED INTERIM REPORT

4 04 03 Banca IFIS guests at About Pharma convention Towards the unblocking of P.A. receivables Read the article of About Pharma on the seminar Italy, with over 75 billion of public administration debt as of December 2013, is one of the worst payers in Europe in the pharmaceutical and healthcare industries. To cope with this difficulty, the Renzi government has proposed legislative decree 66/2014, with which it has enacted all beneficial laws that could help speed up the payment of arrears and prevent the formation of a new stock of debt. Banca IFIS Pharma was also present at the convention held on 4 June in Rome to discuss issues relating to the decree and the consequences of this intervention on businesses and the healthcare sector. During the seminar different perspectives and interpretations of the law, as it affects the world of healthcare, were addressed. Participating in the discussion were many organisations from the pharmaceutical and health sectors, from local healthcare authorities to pharmaceutical companies to the factoring company, Banca IFIS Pharma, represented by Silvia Magliocchetti, manager of the division. LD 66 goes in the positive direction of identifying patterns and consistent processes for healthcare companies, said Silvia Magliocchetti during the seminar, after having presented the operations of the Pharma division. We are ready to manage the relationship with the transferor company by customising our support depending on the needs of the client with whom we work. Our support is not merely financial but also seeks to streamline the operational procedures of the client, to the benefit of the entire supply chain in the world of pharmaceuticals and diagnostics. We finance companies thanks to our financial stability, enhanced by abundant liquidity, added Alberto Staccione, General Manager of Banca IFIS, who has personally followed the work of the conference. This allows us to be efficient in creating a financial bridge between public administration and management and enterprise. Banca IFIS Pharma is able to narrow this gap thanks to our great operational flexibility that sets us apart.

5 05 04 Gruppo Banca IFIS: the new brand identity Gruppo Banca IFIS: value to your work For 2014, Banca IFIS has set out very precise business objectives, which can be summarized in one word: growth. Along with this desire, which is valid for all sectors and areas of activity of the bank, there is also another everpresent desire, to evolve and innovate. It is this vision of the new corporate identity that, in the coming months, will replace almost all logos and trademarks that make up the great family IFIS. The new identity, however, is not a complete break with the past: the names remain, what will change is the look, based on new, eye-catching colours. Based on the appreciation shown towards the graphics of CrediFamiglia Credi Impresa Futuro, launched in 2013, Banca IFIS has decided to give all its areas a new look, making use of more vibrant colours than those that were, until now, the symbol of the Bank: black, gray, white and red. The only ones not to change logos are the institutional divisions, Banca IFIS Group and Banca IFIS, and those already recently released; rendimax, contomax, CrediFamiglia & Credi Impresa Futuro. Banca IFIS Pharma: trade receivables of pharmaceutical companies in the healthcare sector due from local health authorities and other government agencies. Banca IFIS International: Financial support to Italian companies that export and foreign companies working in Italy. Banca IFIS Area NPL: acquisition, processing and management of portfolios of non-performing loans owed by households in the consumer credit sector. IFIS Finance: subsidiary of Banca IFIS which gives financial support in the context of trade receivables to companies operating in Poland. Fast Finance: division specializing in buying tax receivables from bankruptcy proceedings. Credi Impresa Futuro: brand dedicated to the financing of small and medium-sized Italian companies. CrediFamiglia: network of professionals helping those who have a debt owed to Banca IFIS to return to a sustainable financial position.

6 06 05 Domestic VS International : Italy and Europe (and beyond) compared at the 3 rd NPL Meeting On 19 September 2014, the Directorate General of Banca IFIS will host the 3rd NPL Meeting, the International workshop on non-performing loans organised in collaboration with Credit Village and PwC. Since last year, the theme of accounts uncollectible and non-performing loans - which reached billion (10.6% of GDP) in April has become one of the most important in the economic and financial world. The title of the 2014 edition DOMESTIC VS INTERNATIONAL, underlines the high level of attention that international players have given the Italian market for bad loans, along with the importance of the relationships between the various players in the field: originators, buyers and customers. The main themes - addressed by individual speakers and discussion boards - will address the management of portfolios, the pricing, the difficulties of customer relations, the importance of transparency and the importance of aftermarket purchase. Discussing the issues will be representatives of major investment companies, recovery companies, buyers and other banks. Registration is free of charge subject to availability. Requests should be sent to: info@nplmeeting.it Banca IFIS has purchased a NPL portfolio of around 1,3 billion Euro One of the goals for 2014 for Banca IFIS was to grow in the non performing loans sector. The target was reached when, at the start of July, Banca IFIS has announced the purchase of a NPL portfolio from the consumer credit sector, focused on the personal loans and credit card/revolving credit card segment. The nominal value of this portfolio, the largest the Bank has ever purchased, is million euro, made up of debt positions. Banca IFIS s total credit in the face of the families being managed amounts to , a nominal value of 5,4 billion euro, which confirms that Banca IFIS is leader in Italy in terms of the size of unsecured NPLs it has under its management. To read the press release please visit the dedicated section of the official website.

7 years of IFIS: the story in an Ebook Last year, Banca IFIS celebrated 30 years of Bank that we are today. activity in a remarkable way: a blog tour from The form in which we decided to make this Venice to Rome by train retraced the places of little diary takes, once again, a digital direc- most historical significance to the institution. tion: an ebook to share on socials, to browse on We promised that the initiative, called slideshare, save to your desktop and that can #30IFISTour, would have contained some- be taken with you wherever life takes you, to Watch the video thing to remember our past, present and fu- remember where we started and where we are #30IFISTour ture that is still to be built. placed today. The Ebook that we present here for the first The Ebook is available for download online time is the result of a reconstruction of pho- from the Banca IFIS website and from our tos, documents and content and describes the slideshare profile. Happy reading! growth of IFIS from finance company to the Blog Tour #30IFIStour. Trent anni di Banca IFIS Banca IFIS ha deciso di celebrare i suoi 30 anni di storia con una festa particolare: un viaggio in treno, da Venezia a Roma, che toccasse alcuni dei luoghi simbolo dell istituto. Venezia, perché a Mestre ha sede la direzione generale del Gruppo; Bologna, sede della divisione Fast Finance dedicata ai crediti fiscali; Firenze, casa dell Area Non Performing Loans; e infine Roma, destinazione del blogtour e una delle 29 sedi di Credi Impresa Futuro, marchio commerciale rivolto alle imprese.

8 08 07 Technology Forum, the importance of returning to human values If technology is the driver of growth, people are the champions of innovation. The Technology Forum 2014, an event organised by The European House Ambrosetti at Castel Brando on 23 and 24 May, had, as its main theme, the return of the centrality of the human being as opposed to machines. As a supporter of the initiative, Banca IFIS participated in the event: Giovanni Bossi and Alberto Staccione followed the two-day workshop during which important economic issues were also tackled. As guests of the 2014 edition were two excellent bloggers, Rosa Giuffrè ( and Nicola Zago ( who were present to give their impressions about the workshop: I liked this thread that linked all of the interventions wrote Rosa Giuffrè - finally a return to human values. Let s get it into our heads that what makes the difference is the person. We re not talking about artificial intelligence (that ironically has come to be smarter than us), but the unique human capacity that develops thanks to the culture of failure, error and innovation. There s no use trying to hide it: there is a large gap in Italian training. We re not talking about the quality of training, but the preparation of the student for the world of work. We must return to growing alongside the customer and generating virtuous energy, participating as partners in their projects, getting our hands dirty without the pretense of teaching, commented Nicola Zago. From error comes true innovation, communication, and the only sustainable future is the telling of these stories on the Net.

9 09 08 IFIS #Job: open positions To be always updated on the available positions visit The Banca IFIS Group is a dynamic and constantly changing entity: for this reason it is always looking for talent to be included in its staff. The Bank is looking both for young people, who will grow and be trained inside the company, and senior figures who can bring their expertise. The positions currently open are: Credit Risk Manager (Mestre); Junior Risk Manager (Mestre); Junior Asset Manager, Area NPL (Florence); Credit Consultant (throughout Italy); Commercial Contact, Fast Finance division (Bologna). Banca IFIS LinkedIn page The Pisa OpenDay on July 4 saw the conclusion of the CrediFamiglia Open Days for the recruitment of new credit counselors to integrate into the existing network. The project, which started in November 2013, has allowed us to select candidates throughout Italy. Overall the staff of Banca IFIS and Area NPL has conducted over 400 interviews, with around 150 candidates selected for the project.

10 Calendar All the events are published in the Press Room section on the website JULY July: NPL Academy Florence. Two days of immersion in the issues related to non-performing loans, reserved for eligible candidates selected at the Open Days. AUGUST 4 August: Board of Directors for the approval of the first six months results. At 1pm press conference in Milan (Park Hyatt) and at 4pm conference call of presentation to the financial market. SEPTEMBER 5-7 September: Financial markets workshop Villa d Este, Cernobbio. Giovanni Bossi and Alberto Staccione, respectively CEO and Director General of Banca IFIS, will take part in the conference organised by The European House Ambrosetti September: Festival of Politics in Mestre, organised by the Fondazione Pellicani. 12 September: Banca IFIS organizing London Stock Exchange event with the title Repo Market Convention, in collaboration with MTS and Monte Titoli. Mestre, Banca IFIS Headquarters. For information on events and conferences write to comunicazione@bancaifis.it 19 September: 3 rd NPL MEETING International workshop on Non-Performing Loans. Banca IFIS, in collaboration Mestre, Banca IFIS Headquarters. 3 RD NPL MEETING 19 SEPTEMBER 2014 NPL 3 rd International Workshop on the non-performing loans sector Domestic vs International Banca IFIS s Headquarters - via Gatta, 11 Mestre (Venice)

11 011 Financial Calendar 09/07/2014 Board of Directors Venezia Mestre (Italia) 17/07/2014 Board of Directors Venezia Mestre (Italia) 04/08/2014 Approval of half-year results 30 June 2014 Venezia Mestre (Italia) 25/09/2014 Board of Directors Venezia Mestre (Italia) Banca IFIS shares on the Stock Market 30/06/2014 Price on 30/06/ ,58 Min Max ,57 (03/02/2014) 16,35 (04/04/2014) Number of shares Capitalization at 30/06/ ,1 1-month performance -8,12% 6-month performance +4,38% 1-year performance +63,20% Financial year dividend ,57 Specialist Intermonte SpA After the peak of 16,35 reached in April 2014, the price of Banca IFIS shares has stabilised at per share, with volumes at million euro. The shares are covered by Intermonte and Edison. Share Ownership 30/06/2014 Sebastien Egon Fürstenberg 52,651% Float 37,962% Giovanni Bossi 3,417% Riccardo Preve 2,321% Marina Salamon 2,000% Treasury stock 1,649%

12 Coverage by analysts Mark Thomas Edison, Investment Research Christian Carrese Intermonte Irene Rossetto Intermonte Follow us on Contacts twitter.com/bancaifis tvchannel.bancaifis.it/ bilancio.bancaifis.it Investor Contact: Mara Di Giorgio Phone: