Newsletter Banca IFIS Group 4, december 2012

1. 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
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
New job openings at Banca IFIS
06_What are “Non Performing Lo-
ans” exactly?
07_Enterprises’ World
08_On the agenda
09_Contacts
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042012
31 December 2012_QuarterlyNewsletter 4
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02
Giovanni Bossi’s editorial
2012. A year of very important growth and of
breaking off with the past. Excellent profitability,
excess liquidity and first-rate equity are the three
pillars underlying the increase in the Bank’s figures.
However, the year that has just ended should be remembered,
above all, for what the Group planned and achieved, building
its future with perseverance and dedication, with the
goal of writing a small new page in the never-ending book
about the banks’ role in Italy and the whole of Europe.
A successful year, then. The best year yet in Banca
IFIS’s history. The result of proper choices and ideas,
interpreted by people who, with their energy, desire,
intelligence, expertise and, above all, soul and passion,
were able to give the company’s activity the right pace.
Today, the Group can rely on a strong identity. It pursues
its objectives without hesitation, renewing them and
increasing its rise ambitions as soon as possibilities. The
ability to quickly renew itself; to look at other contexts
suggesting new answers; the push by people who have
shared stimuli as well as new ways of working, continually
putting themselves on the line, with transparency and
a vision of the future: these are the levers for change.
2013 will be a year full of challenges. The little or no growth
of economies, together with the necessary fiscal compact
policies in both the public and private sectors, lead to fears
that the economic trend will worsen. But the Bank will be
facing these challenges being fully prepared and solid, with
theintentionofcontinuingtostrengthenitsteam,developing
the skills of its human resources and investing in their
capabilities so they may perform their jobs better and better.
Reacting to changes in an increasingly quick and effective
manner will be crucial: in such an unpredictable context,
the ability to react will be more important than the ability
to predict. It will also be important to maintain a high
sense of responsibility towards all those involved: from
enterprises to savers, from colleagues to stakeholders.
BancaIFISknowshowtorecognizegoodworkinthecompanies
it finances, and has to continue unceasingly in their selection,
confirming its commitment to virtuous enterprises. The
Bank supports growth instead of creating it. It works side by
side with the company that works in a virtuous fashion, and
does not make choices for the entrepreneur. Lastly, the Bank
chooses to act in order to help those who deserve it and to
reject those who do not. This Banca IFIS’s task, this is the
objectivethatwillleadthebanktogrowquicklyamongthetop
five players on the market. With a focus on enterprises that
innovate and export; on those that have receivables due from
the Public Administration and have an eye on encouraging
the completion of bankruptcy procedures, releasing them
from tax receivables and contributing to the recirculation
of capital resources that are important for growth.
Major innovations for the NPL division, wich concentrates
on the management of accounts towards counterparts
who are families often experiencing financial troubles.
New instruments and processes will gradually take shape
during the year, and the search for sustainable solutions
will lead to a stronger commitment towards the hundreds
of thousands of people towards which the Bank boasts a
credit. Sustainability, reliability and mutual respect will be
the passwords for the Group’s presence in the credit recovery
sector, where much can be done to improve the quality of life
of those who have had or are currently experiencing a difficult
financial situation, often for reasons beyond their will.
New challenges in retail deposits: the most delicate one is the
launch of the contomax crowd bank account, which joins the
rendimax savings account and will allow us to offer our clients
somethingthatiscompletelynew,throughasimpleandhonest
relationship. Excellent service, internal efficiency that means
industrial product costs cut to a minimum, innovation in the
product range are and will remain the pillars of our deposits.
On a difficult market, the Bank shows up for the new
year with what it takes to grow and contribute, as
always, to the economy of the system. Our commitment
and our promise to do our best in order to be stronger,
and to use our new strength to do even better.
Giovanni Bossi, CEO Banca IFIS

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01 The Group’s excellent
economic-financial results
in the first 9 months of the year
The Banca IFIS Group continues to grow in
the third quarter, thus confirming the trend
of the previous interim reports. The third
quarter figures were approved by the Board
of Directors this past 30th September 2012.
The main data highlighted by the results include
a 100% increase in the banking income, up
to € 167.6 million in the first nine months of
the year (with an 84% increase in the third
quarter). Strong growth made possible thanks
to the positive contribution of all Group
sectors. Net banking income grew by 115.9%
to € 140.1 million, also increasing in the third
quarter by 88.1%. A strong reduction in the
costs/banking income ratio is confirmed once
again, which falls from 38.8% down to 30.6%.
The increase in net profits is especially
noteworthy as it grows to € 57.8 million, an
increase of 175.5% in the first nine months of
the year (for the third quarter, it settles at € 20.2
million, a 154.1% increase). This is in addition
to the constant success of retail deposits, which
increased by 75.6% to further strengthen the
Bank so that it can face the last part of the
year with determination and peace of mind.
The Group’s Net Equity is also on the rise, from
€ 196.3 million as of 31st December 2011
to 284 million as of 30th September 2012.
In the area of commercial loans, during the
first nine months of the year the number
of financed customers increased by 12%,
thus proving that the Bank supports worthy
companies, including those with receivables
due from the Public Administration.
In the sector for non-performing loans, a strong
structural change has taken place within the
market, and Toscana Finanza, which joined the
Group on 1st July 2011, has shown its ability
to seize new opportunities: at the beginning
of the year, important portfolio purchases
were made from two major international
banking groups, while a third agreement was
signed at the end of June. Throughout the
nine months, the activity also focused on
strengthening the processes, resources and
instruments applied in the management of loan
accounts, which total approximately 400,000.
rendimax, Banca IFIS’s savings account,
continues to be a huge success, in terms of
both the increase in the number of customers,
more than 60,000 at the end of the period,
and of the strong increase in deposits. The
size of the securities portfolio continues
be significant, equal to € 4,612.7 million at
the end of the period, mostly short-term
and fixed-rate or short/medium-term and
variable rate, of which € 4,462.3 million refer
to Italian government bonds. Investing in
securities allows the Bank to make profits
suited to increasing its Equity, without taking
away financial resources from corporate loans
or having to resort to capital increases.
“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 ever-
evolving market.”

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02 Ready, set, GO!
The contomax current account kicks off on 7th January!
contomax, Banca IFIS’s crowd current account,
is the result of a dialogue with the Internet; it
will be operational as from 7th January, and
can be found on the website www.contomax.
it. Innovative, simple, safe and high-yielding
right from the start, it offers solutions in line
with the on-line world from which it originates.
The main services are available immediatly:
advanced Bancomat (cash card that can also
be used for on-line purchases on the Maestro
circuit); payment of utility bills and Telepass
motorway tools, and transfer of funds from
one account to the other, in addition to mobile
phone top-ups. Security is ensured by the Token
system, which generates single-use codes.
Internet users were precisely the ones to
determine, by participating in a series of online
surveys published on social networks and on the
website, the basic services that contomax had to
offer right from the word “go”, with over 12,000
preferences being expressed. contomax thus
aims to satisfy the savers’ needs. Moreover, it
allows them not to miss out on the yield, thanks
to a set of interest rates for the deposited sums.
contomax Free, the non-term account formula,
willofferaninterestrateof1.50%withquarterly
payment, while the contomax Now term
accounts, with pre-paid interest and maturity
dates from 1 to 24 months, offer interest
rates ranging from 2.85% to 3.85%. contomax
Up, on the other hand, offers term deposits
with deferred interest payment for maturity
dates from 3 to 24 months, with interest rates
from 3.10% to 4.35%. Lastly, the contomax
One option which, in line with rendimax Like,
allows customers to withdraw the desired sums
with a 33-day advance notice, with a 3.5%
yield. What about the costs? This is a low-cost
account, with no opening or management
fees, that also includes an unlimited number
of transactions throughout the year. The
debit card and Internet banking are also free
of charge, as well as the first 5 withdrawals
of the month from ATMs located in Italy.
Contomax’s social
network presence

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03
StreetNetwork, the ideas contest organized
by Banca IFIS in order to give contomax,
the crowd current account of the future, its
graphic layout, has come to an end, and on 3rd
December, Riccardo Bernucci, the Internet’s
favourite, was able to recreate his work live at
a truly amazing location: the city of Venice. The
Santa Lucia railway station provided the setting
for a day to remember, during which Riccardo,
professionally known as New-R, recreated
the graphic layout of contomax step by step,
representing its concept of network and
collaboration… But the artist was not alone.
Around him, a crew of colourful and young hip
hop dancers performed a series of flashmobs
that gave rhythm to the day and further
involved the crowd of bystanders who stopped
to watch both Riccardo at work and the dancers.
All broadcast in real time on the Web, in the
perfect 3.0 spirit of the project, thus spreading
the StreetNetwork mood in the virtual world
as well: fast, immediate and with high impact.
RiccardoBernucci’sartworkpassedtheselection
by a specialized panel of judges, led by the art
critic Fabiola Naldi, and then, together with the
other finalists, faced the Web’s opinion. 22 years
old, Riccardo is currently studying industrial
design at the Faculty of Architecture of Genoa.
He approached the art of “writing” when he was
just 16 years old. We asked him where he got
the inspiration for his artwork. “Looking at the
website and contomax graphics, I immediately
came upon an idea that would be suited to the
requests. In my opinion, the lettering needed
to be changed, keeping its communicative
power but at the same time turning it into
a simple graphic sign. So I took the words
which were important to me for the contest:
“network”, “Internet” and “information”. I put
them together on a piece of paper, in a simple
and spontaneous manner. As Crozza says – if
you get it, it’s a chair, if you don’t, it’s design!!”
There were also some unexpected turn of
events during the day: after eight hours of
hard work, two “thieves” stole the artwork.
There were moments of despair, but Riccardo
kept his cool. During the official awards
ceremony held at Villa Furstenberg, Banca
IFIS’s headquarters in Mestre, the artwork
reappeared, returned by the likeable “thieves”,
to the joy of everyone attending the ceremony.
The event was hosted by Mauro Lupi, expert in
communication and social media marketing.
We would like to thank all those who made
this very special day possible, part of a project
that has originated and will continue to grow
thanks to the interaction with the community
and with the Internet: thanks to the desire to
exchange views with the users and get them
involved, for a crowd and co-creation future.
StreetNetwork: a day of art,
music and dancing that involved
the general public and the Web
Photos of the live
event in Venice
www.streetnetwork.it
facebook.com/StreetNetwork
twitter.com/StreetNetworkIT

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3.0Bank:WebTVandmuchmore
04 Banca IFIS, in line with its innovating nature,
has launched an instrument that will allow
all Internet users to stay up-to-date with
activities being carried out by the Group’s
various divisions: tvchannel.bancaifis.it.
The platform has a twofold function.
It represents a “showcase” that brings together
all the videos taken during the presentations
of financial data, events in which the Group is
involved and the promotion of new products
associatedwiththeBank.Moreover,intimeitwill
become the official Academy within the Group,
with contents that will be constantly updated:
an e-learning service, consisting of video-
lessons, tutorials, conferences and workshops,
will be available to all registered employees.
WebTV is only the latest step taken in the
world of the Web by Banca IFIS. Below, a
detailed list of the channels used by the Group.
• LINKEDIN: Banca IFIS has over 2,300
followers on the website par excellence
dedicated to professional networks. Moreover,
Banca IFIS was mentioned precisely
by LinkedIn as a success story in Italy.
• FACEBOOK: a total of 5,000 fans on the
pages of the various rendimax, contomax
and Banca IFIS profiles, where savers
and fans interact with us on a daily basis.
• TWITTER: 1,000 followers for the contomax,
rendimax, Banca IFIS and MondoPMI profiles.
• YOUTUBE: 39 videos uploaded, with 28,000
visualizations.
The Group can also be found on social networks
such as Pinterest, Google+ and Slideshare.
Not to mention the blogs Salvarisparmio.com
and MondoPMI.com, dedicated, respectively,
to the two topics of savings and Small and
Medium-sized Enterprises. In the first case,
current events, analyses covering a wide
range of topics and readings accompany
Internet users an additional point of view
on evaluating expenses and investments and
also gives small tips on savings. MondoPMI,
on the other hand, supports the exchange of
ideas and is a useful source of information: a
meeting point to talk about credit, corporate
financing and administrative news. During
the Christmas holidays, through the Natale
Impresa initiative it voiced the entrepreneurs’
desires and requests, in order to identify ideas,
needs and creativity of professionals working
for Small and Medium-sized Enterprises
(over 4,500 unique visitors during the pre-
Christmas period, a 60% increase in blog
visits, and a reached base of Twitter users of
approximately 60,000 contacts). Thanks to
the ideas submitted by the visitors, a series of
initiatives will be launched (both of a publishing
nature and in the form of events) during 2013.
The first project is the section dedicated to
interviews with entrepreneurs, which aims at
highlighting success stories and sharing the
entrepreneur’s stories, choices and journeys.
The Group’s latest
social initiatives

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05 Socialrecruitingcatcheson
NewjobopeningsatBancaIFIS
The dynamic evolution of the Banca IFIS
Group continues, along with the search for
talent to add to its workforce. The Bank
addresses both youngsters, for whom it
provides training and professional growth
within its organization, and senior figures,
who can contribute their experience.
Currently, there are various job openings:
OracleDatabaseAdministrator,SeniorSoftware
Tester and IT Security Systems Analysts – all in
Venice;CustomerManager-BancaIFISDivision
in Brescia; Sales Manager - Banca IFIS Division
in Bari, Triveneto and Milan; Export Sales
Manager–InternationalDivisionagaininMilan.
We would like to develop the Linkedin function
in terms of the Banca IFIS recruiting campaign.
The Group joined the world of Linkedin in
Autumn 2011, when it created a page where
all of its divisions and brands are represented.
Personnel searches are identified by division.
Videos are widely used for employment
searches, with the employees themselves
being featured in the videos as they explain
the requirements for the professional figures.
According to the words of Giovanni Bossi,
C.E.O. of Banca IFIS: “We feel that this creates
a long-lasting value for the entire company,
conveying what it really means to work for our
Group in a more complete and direct manner.”
The challenge that the Bank has set for itself in
the use of social media is to create long-lasting
value by listening to the market and seeking its
involvement, putting the ability for a reaction
to, and adaptation of, its products on the line.
Work with us
Details of these
positions can be
found on the website
and in the Careers
section of the
Linkedin page

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06
Whatare“NPL”exactly?
The non-performing loans market in Italy is
growing and has reached a considerable size.
It can be studied from various angles: From
the demand side, we can identify all those
operators willing to purchase or process the
“goods”, which are the loans; From the supply
side, we can identify all those subjects that
disburse loans and then see these turn, for
various reasons, into non-performing loans.
If we analyze the loans themselves, they vary
depending on the underlying product and on
the debtor. This allows us to understand how
difficult it is to precisely identify the NPL
market. In Italy, there is a small number of
local operators and an ever-growing number of
foreign operators with high levels of liquidity
and a developing industrial capacity. NPL
means finance and industry, permanently
united, because when one of the two aspects is
missing, profit margins are just a pipe dream.
Finance, in relation to the ability to operate on
the acquisitions market, ready to invest huge
amounts of money, that will be tied up long-
term, according to the type of assets purchased
and on management skills.
Industry, in the ability to enrich the dossiers
bought from an information standpoint and to
increase their likelihood of a positive outcome.
As often happens in the financial sector, the
Italian context is still behind the Anglo-Saxon
one. In the United States and the United
Kingdom, companies are operating in a market
that does not seem to show any signs of a crisis.
One example is the Portfolio Recovery
Association, an American company whose
primary goal is investment in unsecured retail
portfolios; since its founding, this company
has acquired 2,500 portfolios, for a total
of 30 million accounts, managed by 3,000
employees, with excellent results (in 2011,
it posted proceeds of USD 705 million and
a net profit of about USD 100 million). PRA
identifies its ability to convert information
about loans and debtors into operational
recovery decisions, describing information as
“raw material” and decisions as the “finished
product”, as the main reason for its success.
We can say that the development of skills in
the dynamic management of loans and in
the workout process will be a critical success
factor and must be accompanied by a portfolio
segmentation aimed at improving the quality
of data and at setting up successful recovery
strategies. And this is most certainly the
approach and the direction that both Toscana
FinanzaandIFISaretaking,withover20yearsof
experience,standingapartthankstotheirability
to evaluate and purchase significant portfolios.
Furthermore, the Group has set up an excellent
database containing specific information about
hundreds of thousands of accounts. Today,
Toscana Finanza has its place among market
leaders with a business model based on the
ability to manage both the loans acquisition
and management phases excellently. At the
beginning of the year, important portfolios
were purchased from two large international
banking groups, while a third agreement was
signed at the end of June. During the year, the
activity intensely focused on strengthening the
processes, resources and instruments applied
in the management of loan accounts, which
totalled 400,000 at the end of the period.
by Andrea Clamer
Head of the Toscana
Finanza – NPL Division

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07 Enterprises’World
Encouraging meetings, exchanges, interaction
and conversation means building value. And
doing it together with other entrepreneurs,
speaking out for them and building a
constant dialogue, enhances its outcome.
The year that just ended was full of events
and initiatives that led companies and
entrepreneurstomeet,bothviatheInternetand
at Villa Furstenberg, the Bank’s headquarters.
The calendar of events was especially full in
the last months of the year: first, the meeting
“The silent revolution of the markets.... and
the weapons used by enterprises”, organized
in collaboration with the Salone d’Impresa,
followed by the “One Day in Venice”, organized
together with Centrobanca, and the Project
“Veneto & Abruzzo”. The first event provided a
chancetodiscussandtakeacloselookatconcepts
such as planning, innovation and proactivity,
the only “weapons” available to companies as
they attempt to deal with market difficulties.
The event “One Day In Venice”, now in its third
edition, made it possible for 13 companies
listed on the Italian Stock Exchange, also
known as Piazza Affari, expression of the
entrepreneurial nature of North-Eastern Italy
and, specifically, of the Veneto region, to meet
with Italian and international institutional
investors. More than 85 meetings were
scheduled, double the number of the previous
edition, during which investors were able to
assess the attractiveness of, in financial terms,
and consequently the possibility of investing in,
the companies that took part in the meetings
(Banca IFIS, CAD IT, Delclima, De’ Longhi,
Eurotech, Luxottica, Nice, Save, Servizi ITALIA,
Sabaf, Safilo, Stefanel and Zignago Vetro). The
Project “Veneto & Abruzzo”, was dedicated
to the development of the economy and
enterprises of the Veneto and Abruzzo regions.
The Bank’s desire to put itself on the line and
be there for near the entrepreneurs also went
on the Web. Through a daily activity, it fed the
conversation on the Web through initiatives
tied to social networks and blogs. It will be
an intense year, kicked off with the launch of
a new section of the MondoPMI blog, entirely
dedicated to interviews with entrepreneurs
in order to highlight success stories and to
share the entrepreneurs’ stories, choices and
journeys. The publishing collaborations will
continue with the Bank’s partners. We have
seen that enterpreneurs’ preferred arguments
referring to bureaucracy, to the search for
stability in their work as the safeguard for
healthy growth, to the strength of corporate
networks in dealing with the competition and
to the need for proactivity and innovations
at all levels in order to stay on the market.
MondoPMI
For information:
www.mondopmi.it
The blog for
companies

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08 On the agenda
The upcoming Banca IFIS corporate events of
the Group include:
• from 23 to 27 January Banca IFIS will again
take part in the World Economic Forum, the
organization that brings together the major
political and economic executives, intellectuals
andotherinternationalbusinessfiguresinorder
to create better conditions at the global level.;
• on 8 and 9 February, in Bergamo, Banca
IFIS will participate in Assiom Forex’s
19th Annual Congress, which represents
a chance for an exchange of views, ideas
and opinions between finance operators
and institutions. Bank of Italy’s Governor
is scheduled to speak on 9th February;
• on 19 and 20 February; Banca IFIS will
participate in the 6th edition of Frankfurt’s
European Midcap Event, where Banca
IFIS’s CEO Giovanni Bossi will have the
opportunity to have a series of one-to-
one meetings with various investors;
• from 8 to 10 March, in Cernobbio, will take
place the meeting “Leader of the Future”, held
during the workshop “The scenario of the
financial markets, of their governance
and of finance”. Banca IFIS participates in the
meeting, which is held at the same time as the
annual workshop wich represents a valuable
opportunity to stay up-to-date on economic-
financial issues as well as, contemporarity
offering, a chance for networking among
youngsters who are interested in these topics
or who deal with them in their profession. Just
like in the main workshop, the programme will
feature some of the top experts and managers
of the most important economic and financial
institutions,bothnationalandinternational.

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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.
Banca IFIS’s shares on the stock market
Financial Calendar
Sebastian Egon Furstenberg 68,9%
In circulation 24,7%
Giovanni Bossi 3,4%
Riccardo Preve 2,4%
Treasury shares 0,6%
To be defined.
Shareholders’ breakdown
31 December 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
http://tvchannel.bancaifis.it/
Website: http://www.bancaifis.it
Website of 2011 financial statements:
http://bilancio.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
_
Mark Thomas
Edison, Investment Research
financials@edisoninvestmentresearch.co.uk
Marco Cavalleri
Banca Akros
marco.cavalleri@bancaakros.it
_
09 Contacts