01_First half results: a record... of Olympic proportions!02_2012, not only rendimax: a new current account available from December

03_Interactivity and creativity: the idea competition that will decorate the new account and other things04_The Group recruitment campaign continues

05_Enterprises’ World 06_On the Agenda: upcoming events 07_Contacts

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Newsletter 3

Ryan Wick

01 October 2012_Quarterly

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01 First half results: a record... of Olympic proportions!

The Board of Directors of Banca IFIS approved the

interim report on 9 August and the results for the first

half of 2012 confirmed the upwards trend already seen

in 2011 and in the first quarter of 2012.

The main evidence that emerged between 1 January and

30 June 2012 included a further increase in net banking

income, both compared to 31 December 2011 (+110.3%

increasing from 51.0 to 107.3 million Euro) and to the

previous quarter (when net banking income increased

from 26.8 to 54.9 million Euro). All the Group’s sectors

contributed to these figures, with more significant

contributions from trade receivables, the sector of

non performing loans, and tax receivables purchased

from insolvency proceedings; there was a substantial

contribution from the securities portfolio too.

Net profit from financial activities was also up on the

same period in the previous year, as it grew from 39.6

million Euro in the first half of 2011 to 92.5 million

Euro in the first half of 2012 (+133.6%). A comparison

between the second quarter of 2012 and the second

quarter of 2011 shows an increase from 20.7 to 45.8

million Euro (+121.8%).

On the other hand, the cost/income ratio fell

considerably from 39.2% to 32.3%.

Retail funding continued to increase (+56.9%), and

net profit also posted positive results as it increased by

188.6% in the first six months of 2012 to 37.7 million

Euro, compared to 13.0 million in the first half of 2011

(17.9 million Euro in the quarter, +140.4% compared

to 7.5 million Euro in the second quarter of 2011). This

provides a further boost to the Bank, allowing it to face

confidently and with determination the second half of

the year.

The equity attributable to the Group also increased

significantly from 196.3 million Euro as at 31 December

2011 to 257.7 million Euro as at 30 June 2012, with a

solvency ratio of 11.9% (10.8% in December 2011) and

a Core Tier 1 ratio of 12.1% (11.2% in December 2011).

The increase in equity is partly due to the change in the

measurement at fair value of government bonds in the

portfolio.

Funding levels continued to climb in the second quarter

of 2012: rendimax, the Banca IFIS savings account,

continues to attract new customers, with total liquidity,

increasing by about one billion Euro in six months

alone, providing the Group with a strong advantage

both in its ability to meet market demand and in

providing further cushion against any downturns that

could occur in the overall scenario.

Despite considerable market uncertainty, there was

a 12% increase in loans to customers, reaffirming the

Bank’s commitment to back deserving companies,

including SMEs creditor to the Public Administration.

“We are well aware of

the difficulties in Italy

and Europe as a whole,

but we are also careful

to the opportunities

that await when the

future is defined by ideas

rather than money, and

by proactive initiatives

rather than the size of

organisations.”

A word from the CEO, Giovanni Bossi

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“Thanks to the initiatives taken, which will continue to

get results in the next few months, the profitability of

this period will allow us to plan an increase in loans to

support local companies”.

Comments by the CEO, Giovanni Bossi

The Banca IFIS non-performing loans sector started

strongly in the first half of 2012 with the purchase

of significant Italian portfolios from two large

international banking groups, and a third agreement

finalized at the end of June; the focus of the business

then shifted to improving efficiency in procedures,

resources and tools to manage credit positions. The

first benefits of all this work are expected to be felt in

the second half of the year with an expected increase

in profitability.

The Group has reinforced its leading role in purchasing

tax receivables arising from insolvency proceedings

through Fast Finance, incorporated last June.

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02 2012, not only rendimax: a new current account available from December

Banca IFIS will continue to interact with Internet users

and respond to their numerous requests: contomax,

a new, high-yield, on-line current account will be

launched by the end of the year. Right from the start

contomax will feature all the services that on-line

surveys have shown to be important, with over 12,000

votes on the website, the Facebook page and the Online

Finance Forum: direct debit of utility bills, Telepass

payments, possibility of transferring amounts between

contomax and rendimax accounts, and an advanced

ATM card that allows on-line transactions on the

Maestro network, with the Token as security tool.

This current account will be heavily driven by social

networks with a Facebook page and twitter profile. The

last in particular will represent the on-line Customer

Care, supporting the Customer Service department for

anyone who will need information or assistance. The

contomax website shall be essential (www.contomax.it)

and it will ‘change look’ and provide information on the

main steps being taken in the lead up to the launch of

the new product. This channel will also operate through

the social networks with collaboration requested from

the Internet users on occasion.

But there is more. The requests made by rendimax

Customers have been granted yet again: the

proportional tax on financial products and current

accounts introduced by D.L. 16/2012 (also applied

to savings accounts from the first of January, and

amounting to 0.10% in 2012 and 0.15% in 2013) shall

be borne by the Bank in 2013. Once again this decision,

already adopted in 2012, ensures that Customers can

continue to enjoy their rendimax savings accounts for

2013 free of charge.

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03 Interactivity and creativity: the idea competition that will decorate the new account and other things

contomax, “the account that originates and grows along

with you”, will be designed step by step by the Internet

users. They have already expressed their opinions and

advice on the service opportunities that can provide an

‘advanced ATM card’ along with other more sensitive

aspects such as security and home banking.

However, web users will not ‘just’ be able to design the

account: they will also have the privilege of decorating it.

On 19 September Banca IFIS launched Street Network,

an ideas competition for artists and the best street

artists in Italy, through which the contomax layout will

be designed. The competition aims at rewarding the

various interpretations of an art movement that has

sprung up over the last few decades, and that can grab

the attention of the media and public opinion due to its

social nature; the intention is to create the graphics for

the current account through the use of crowdsourcing,

the so-called ‘power of the crowd’.

As with the surveys, it will be the people that create

through their contributions the added value to the

services offered by Banca IFIS, continuing to collaborate

in the same spirit that has made the Customers the real

drivers behind the Group’s commercial policies.

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The winning work will be the contomax corporate

image. The artists will be able to send in their works up

to 15 October; they will have to use the contomax brand

colours (light blue and fuchsia) and add a description of

how the idea was conceived and what instruments and

supports were used to create it. Once the deadline has

passed, a jury comprising people from different cultural

areas will judge the works and select 50 of them to make

up the short list of finalists. The Internet users will then

decide the winner, voting for their favourite creation

through the contomax website. The winning artist will

receive a cash earnings and the opportunity to create

and show his or her work during the awards ceremony

planned for the beginning of December.

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04 The Group recruitment campaign continues

Bucking negative national employment trends, and

stimulated by its positive first half results, Banca IFIS

continues to its recruitment campaign, and is always on

the lookout for professional profiles with high levels of

ambition, resourcefulness and ability.

The growth and success achieved by the Group bears

out its decision to focus on talented young people

with high school diplomas or degrees, encouraged

to express their full potential in a dynamic, proactive

environment.

The positions available can be found by consulting

the web site and under the Careers section of the

Banca IFIS Group LinkedIn page (www.linkedin.com/

company/banca-ifis/careers) which is monitored and

updated every day with offers of work.

The intense recruitment activity on the social networks

by the Group led to its inclusion in the ‘best practice’

during the LinkedIn Day Forum, which will be held

on Thursday, 4 October starting from 9:30 at the Leon’s

Place hotel in Rome: an opportunity to meet the most

innovative companies in Italy with respect to the

development of recruitment tools.

Professional positions are available in the sales area

(Sales Manager) in addition to other managerial roles,

mainly involving the organisation and management of

the Group’s business units.

The vacancies available are:

• Stage Junior Credit Manager (Cuneo);

• Office Manager – Southern Italy and Islands (Naples);

• Office Manager – Northeast Italy (Venice);

• Sales Manager (Bergamo, Genoa, Pordenone,

Salerno).

gerlos

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05 Enterprises’ World Banca IFIS is increasingly committed to Small

and Medium sized Enterprises. In addition to the

information on corporate funding through Factoring,

our on-line presence shows a constantly evolving trend.

In our last newsletters, we described how the whole

Group corporate website had been redesigned to make

it easier to use by entrepreneurs, who have a big section

dedicated to them on the homepage. The MondoPMI

blog was also created for this sector (www.mondopmi.

com); this tool provides daily information on credit,

financing and new laws that affect companies.

The MondoPMI initiative has proven highly successful,

with over 9,000 hits on its articles over the past 4

months. This interest has led Banca IFIS to update its

‘look’ to make it easier for readers to search by topics,

and allow all the information on a certain subject to

be immediately retrieved. Four ‘window’ pages that

are updated with the latest news showcase the most

interesting information on the Internet.

Moreover to the new graphic layout, MondoPMI

also provides a new service for its readers: the

weekly newsletter. Each Monday the most important

information from the previous week will be sent to the

subscribers’ in-boxes. This free service can be requested

by anyone who leaves their name and e-mail address in

the subscriber’s section on the home page.

In addition, work on the Twitter channel continues.

There are now more than 125 followers, and this

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number is expected to grow. The profile not only

report the daily publications and the main general

news, but also serves as a primary interaction resource

with readers, who can ask questions or suggest new

article topics. The dynamic editorial team will be able

to provide readers with the information they require,

aware that collaboration is at the heart of a trusting,

long-term relationship.

Offline, Banca IFIS’s work in favour of companies

includes several events, that continue to be organised to

showcase the services offered by the Bank. As described

below, over the next few months you will be able to

meet our sales representatives at Fiera Milano, where

Banca IFIS is attending at the Matching 2012, a series

of meetings aimed at establishing business relations

among entrepreneurs, and especially those belonging

to the Small and Medium sized Enterprises.

THE MONDOPMI NEWSLETTER

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updated on all the main topics of the

week

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06 On the Agenda: upcoming events

The International Workshop on the Non Performing

Loans was held at the Banca IFIS headquarters in asso-

ciation with Credit Village. This meeting involved both

Italian and international players, representing an oppor-

tunity for professional updating and to compare notes on

potential prospects and the outlook in an increasingly in-

teresting market. Interviews with the NPL sector experts

can be seen on the Banca IFIS YouTube channel.

The upcoming Banca IFIS corporate events of the Group

include:

• from 2 to 4 October, Banca IFIS will take part in the

Star Conference 2012, the event dedicated to the

operators listed on the STAR segment of the Italian

Stock Exchange. This will be held in London at the

offices of the London Stock Exchange Group. The

meeting will be called: “The excellence of Italian

Companies meets global investment standards:

transparency, liquidity and governance”;

• on 4 October, Banca IFIS will take part in the LinkedIn

Day Forum, which will be held on Thursday, 4

October, at the Leon’s Place hotel in Rome;

• on 25 and 26 October, Banca IFIS will take part in

the South Europe & Switzerland Midcap Event, a

business event specialised one-to-one meetings

organised in Paris. The CEO, Giovanni Bossi, will

meet institutional investors in two days of non-stop

meetings;

• on 6 November, an event called Rimettere le scarpe ai

sogni [Get your dreams to walk with you] event will

be held, jointly organised by Banca IFIS and Salone

d’Impresa. The theme of the event shall be “The silent

revolution of the markets… and the weapons used by

companies”;

• on 23 November the third edition of the Investor

Meeting One Day in Venice will be held. The event

will be by invitation only and, as usual, will be held

in the magnificent Villa Furstenberg, the head office

of the Banca IFIS Group; it will be jointly organised

by Banca IFIS and Centrobanca, the Corporate and

Investment Bank of the UBI Group;

• from 26 to 28 November, Banca IFIS will take part

in the seventh edition of Matching, a business event

that aims to stimulate new relationships and meetings

among entrepreneurs, especially from Small and

Medium sized Enterprises. The 2012 edition will be

held at Fiera Milano;

• on 3 December, the Street Network prize-giving

ceremony will be held, for the competition involving

street artists, writers and Internet users to design the

graphics of the new contomax current account;

• Banca IFIS will take part in the fourth edition of the

European Mid Cap Event in Geneva on 11 and 12

December.

• In the first half of December, Banca IFIS will host

at its head office an event aimed at creating new

opportunities between the markets of the Abruzzo and

Veneto regions in association with the Associazione

Veneti In Abruzzo [Veneto-Abruzzo Association].

Villa Furstenberg will

once again play host to

the Investor Meeting One

Day in Venice.

Meeting scheduled for 23 November

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Price on 27/09/2012 5,225 €

365 day Min-Max Min 3,678 € – Max 5,49 €

Number of shares issued 53.811.095

Capitalization 281.162.971,38 €

1 month preformance +8.57%

6 month performance +13,01%

1 year performance +22,21%

Dividend paid 0,250 €/share (07/05/2012)

Specialist Centrobanca

Thanks to the positive results achieved, interest in Banca IFIS’s shares has increased markedly. All new reports and

updates published by research centers assess positively the bank equity story.

Banca IFIS shares on the stock market

Financial calendar

Sebastian Egon Furstenberg 69,3 % Flottante 24,1% Giovanni Bossi 3,4% Riccardo Preve 2,4% Azioni proprie 0,8%

Wednesday 14 November 2012 Approval of quarterly results

Shareholders’ breakdown 27 September 2012

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ContactsFollow us on

https://twitter.com/BancaIFIS

http://www.facebook.com/Banca.IFIS

http://www.linkedin.com/company/banca-ifis

http://www.youtube.com/user/BancaIFIS

Website: http://www.bancaifis.com

Website of 2011 financial statements:

http://annualreport.bancaifis.it

Investor contact: Mara Di Giorgio

Email: mara.digiorgio@bancaifis.it

Tel. +39 041 502 7623

Coverage by analysts

Marco Opipari

Centrobanca, Gruppo UBI Banca

marco.opipari@centrobanca.it

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Mark Thomas

Edison, Investment Research

financials@edisoninvestmentresearch.co.uk

Marco Cavalleri

Banca Akros

marco.cavalleri@bancaakros.it

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07 Contacts