Associated Caixas... Branches (Nov2012) Net Assets... 13,030 million Own Funds... 1,058 million Banking Product million Net Profit...

Transcription

1 Meet you partner in Portugal November 2012

2 31st December 2011 Institutional Snapshot Associated Caixas... Branches (Nov2012) (Nov2012) Net Assets... 13,030 million Own Funds... 1,058 million Banking Product million Net Profit million Tier 1 Solvency Ratio % Core Tier 1 Solvency Ratio % Loans to Deposits Ratio % 2/28

3 FYE Financial Highlights (EUR million) Change Total Deposits ,67% Net Loans to Customers ,00% Financial Margin ,73% Net Profit ,22% 3/28

4 Interim June 2012 Flash Financial Highlights (EUR million) Jun-12 Jun-11 % Financial Margin 169,8 171,3-0,9% Net Commissions 60,4 54,5 10,8% Banking Product 234,4 219,9 6,6% Pre-Tax Profit 28,8 37,8-23,8% Net Profit 22,5 30,3-25,7% Customer Deposits , ,4 1,9% Loans to Customers 7.986, ,6-0,8% Consolidated General Solvency Ratio at 30-June-2011: 12,42% Consolidated Tier 1 Solvency Ratio at 30-June-2011: 11,61% 4/28

5 Ranks among the largest financial groups in Portugal in terms of Net Assets (8 th ) and Deposits (6 th ), as well as in the Dimension of the Retail Franchise (3 rd ). Industry Position Its World Ranking by Net Assets, according to Bankers Almanac, is 691th (November 2012, based on Dec 2011 Balance Sheet). Based on 2009 Balance, ranked by The Banker as 445 th in the World by Tier One Capital, (up from 526 th in the previous edition), ranked in Portugal 2 nd by Soundness of Capital/Assets ratio, 2 nd by ROA and 7 th by Assets. (The Banker, July 2010 Top 1000 World Banks 2010 special issue). 5/28

6 Corporate Mission To develop an important Financial Group, rooted in its cooperative origin, satisfy all the financial needs of its Customers, ( one-stop shopping ), and provide benefits to its Associates, Customers and Employees, simultaneously contributing to the development of Local Communities. 6/28

7 CCAMs Caixa de Crédito Agrícola Mútuo de..., C.R.L. (1) h Portuguese co-operative credit institutions, which capital is subscribed by their members, individuals and companies, linked to Primary Sector activities, presently numbering over 400,000 in the Group h Specialized in lending to agriculture and related industries but bank with any customer type. Excess liquidity is transferred to Caixa Central, which can lend to all economic sectors and conduct transactions in the Money, Foreign Exchange and Capital Markets h Own 100% of Caixa Central h Supervised by Caixa Central s Supervision and Guidance Department, as empowered by the Bank of Portugal 7/28

8 CCAMs Caixa de Crédito Agrícola Mútuo de..., C.R.L. (2) *2011 Data refers to September 2011 Mergers between local banks have considerably increased their size both in terms of assets and number of branches per local bank (CCAM). Profitability has also improved as a result. 8/28 CCAMs Branches Average Branches/CCAM Average Assets ( Million) ,0 66, ,2 76, ,7 82, ,0 97, ,4 102, ,2 116, ,6 127, ,0 132,4 2011* ,2 129,6

9 CCAMs Caixa de Crédito Agrícola Mútuo de..., C.R.L. (3) 9/ Data refers to September 2011

10 CCAMs Caixa de Crédito Agrícola Mútuo de..., C.R.L. (4) Loans to Deposits and Core Tier 1 Ratios: Comparison with levels defined in the Troika Programme for the Financial Industry Evolution Jun 2010 Jun 2011 Loans to Deposits Ratio Core Tier 1 Ratio 10/28

11 2011 Profits in the Portuguese Banking Industry Net Profits Year-on on-year evolution of Domestic Activity Profits ( , in %) Crédito Agrícola BANIF Montepio Geral Caixa Geral de Depósitos Banco Santander Totta Banco Espírito Santo Banco BPI Millenium BCP 11/28

12 12/28 Local Market Share per District (2011)

13 Co-operative Portuguese Financial Institution Universal bank Caixa Central Caixa Central de Crédito Agrícola Mútuo, C.R.L. Controlling head of the system of co-operative banks known as SICAM or, more commonly, Crédito Agrícola Central bank for the group, creating and developing a joint banking strategy Full service bank, competing in equal terms with the largest banks operating in Portugal Supervised by the Bank of Portugal Represents the Crédito Agrícola Group internationally and in some domestic situations such as Clearing and Capital Markets 13/28

14 Crédito Agrícola Mútuo Integrated System h Is a full cross-guarantee group comprised of: Caixa Central, including: 7 branches in the Lisbon area, 4 branches in the Porto area, 1 International Financial Institution in Praia, Republic of Cape Verde. 2 Representative Offices, in Paris and Luxembourg 84 local Co-operative banks (CCAMs), including: 683 domestic branches. SICAM - Sistema Integrado do Crédito Agrícola Mútuo (altogether, 694 domestic Branches in mainland Portugal and the Azores Islands, plus the Offshore branch in Praia) 14/28

15 Instrumental Companies h CA Seguros... Non-Life Insurance Company h CA Vida... Life Insurance Company h CA Gest... Funds and Assets & Liabilities Management h CA Consult... Mergers & Acquisitions, Consulting h CA Informática... Data Processing Systems h CA Serviços... Shared Purchasing and Services Company h FENACAM... National Federation of CCAMs h Crédito Agrícola SGPS Holding Company h CCCAM SGPS Holding Company h CA Finance IFI (Republic of Cape Verde) Asset Management 15/28

16 85 Associated Caixas SICAM Organization 100,00% 100,00% Rural Rent Caixa Central 20,25% CA Informática 79,20% 57,34% FII CA Património Crescente 32,11% CA Vida 53,83% 100,00% FII CA Imobiliário 84,15% 0,68% 10,00% CA Seguros 47,72% 49,00% 66,67% Agrocapital SCR 3,33% 0.52% 27,78% FIQ Agrocapital % 7,62% FENACAM 0,09% CA Consult 100,00% Crédito Agrícola SGPS 100,00% 30,00% FIQ Centralfrie CA Gest 100,00% CCCAM SGPS Unipessoal Lda 100,00% 100,00% 26,05% FCR InovCapital Global 2 CA Serviços CA Finance IFI Cape Verde) 12,42% Equity Equivalence Full Consolidation 16/28

17 1498 The Common Barns are created, allowing farmers to keep stocks and seek financing 1911 The Agricultural Co-operative Credit (Crédito Agrícola) was formally created in Portugal, which model, notwithstanding adaptations from time to time, remains to date Number of Caixas de Crédito Agrícola Mútuo (CCAMs) grew significantly Historical Background (1) 1976 Following the 1974 revolution, all private financial institutions nationalized, except for Crédito Agrícola and non-portuguese financial institutions 1978 Creation of the National Federation of Agricultural Co-Operative Credit Institutions (FENACAM), to support and represent the interests of its associates, both national and internationally 17/29

18 1984 Caixa Central founded Historical Background (2) 1986 Portugal joins the European Economic Community Introduction of free competition and competition rules - Beginning of the end of monopolies, both private and state - Farmers begin to receive subsidies to reduce/stop production - Many structural, legal alterations affecting all markets - Privatization in various sectors, including financial - Expansion of credit, banks authorized to extend credit to various economic segments, previously not permitted - Tighter financial rules & controls, including public sector - Portugal receives structural funds from EEC/EU - GDP and investment (domestic & international) rise 18/28

19 Historical Background (3) h Broadening of Caixa Central s activities in order to transform it into a truly universal bank h Creation of instrumental companies in order to provide our customers with a global financial service h Internationalization of the group, with the main objective of serving our customers international business needs h Introduction of new and modern EDP systems regarding the automation of working processes, the efficiency of control methods and the whole group working on-line h Creation of stronger local structures by merging small local banks within the same region. Starting off with 215 local banks, it is expected to reach a number somewhat below 80 in the future 19/28

20 Historical Background (4) 1991 New organisation model: Caixa Central + Associated Caixas = SICAM Caixa Central was empowered with the mission of supervision, guidance and financial representation of SICAM 1992 Beginning of international business activity New Governance model. 20/28

21 Historical Background (5) 2011 Centenary of Crédito Agrícola Crédito Agrícola celebrates the 100th birthday of the legal creation of its current format, not withstanding adjustments that have taken place along the years. 21/28

22 Senior Board Elected by the Local Co-operative Banks, (CCAMs), for 3-year terms. Executive Board Professional team, appointed by the Board of Directors, with the objective of implementing Group policies and managing SICAM on a daily basis. Advisory Board Elected by CCAMs as a consulting body. Supervisory Committee Elected by CCAMs as a supervising body. Governance Model 22/28

23 Geographic Distribution h Only 11 branches in Lisbon and Porto, Portugal s largest cities; h The remaining 683 branches are located in smaller cities, towns and villages in traditional, non-urban Portugal. 23/28

24 24/28 Internet Institutional Website Renewed

25 Technically Evolved Customer Interface Online and Real-Time Internet Banking Touch-Screen Dedicated ATM Network 25/28

26 Sustainable Growth Key Factors Proximity, customer focus and relationship Quality in management and services Operations and procedures supervision Flawless analysis and swift decision process Cost control 26/28

27 Position of the Group within the International Financial Crisis The position of the bank in the context of the crisis is summarized as follows: Crédito Agrícola had zero toxic assets linked to the sub-prime crisis, with only a very small portfolio of CDO s and similar instruments. Strong liquidity, based on the ultra-conservative funding policy: overall Loans to Deposits ratio is traditionally below 90%, and the guiding limits for Local Banks issued by Caixa Central are even stricter. Crédito Agrícola s net interbank position, concentrated in Portuguese banks, is 1.5 billion and, additionally, CA has a sizeable portfolio of securities that may be the object of Repo transactions at any time. Strong solvency: tier 1 of 12,3% (31-Dec Dec-2011). No need to resort to the Government guarantees for issuance of debt. 27/28

28 Solidly yours, 28/28