CaixaBank - Covered Bond Investor presentation Data as of 30 th September 2016
CaixaBank Covered Bonds Programme - Highlights High quality collateral & strong overcollateralization Ratings: Moody s Investors Service Aa2 A+ Low risk profile: mortgage portfolio prudently managed 75,3 of residential loans, out of which: 95,0 with LTV < 80 90 First home Solid OC levels AA (high) Best treatment as regards LCR and risk weighting purposes Total OC: 240 -> and flexibility to optimize our collateral: 20,1 bn of retained Covered Bonds Legal OC: 146 Comfortably above the legally required ratio (125)..Despite following strict eligibility criteria Remaining Issuing Capacity: 8,0 Bn (mortgage & public sector CB) Always aiming to the best market standards Covered Bond Label Compliant since 1 st January 2013 Transparency: complete quarterly information available in our web page: http://www.caixabank.com/inversoresinstitucionales/inversoresrentafija_en.html 2
Mortgage Covered Bond Programme CaixaBank Covered Bonds Programmes - Main figures MORTGAGE COVER POOL MORTGAGE COVERED BONDS Cover Pool Size (mill ) 104.664 Outstanding nominal (mill ) 43.660 Residential Assets 78.798 75,3 OC (total) 240 Comercial Assets 25.866 24,7 OC (legal - eligible portfolio) 1 Elegible Pool (mill ) 63.664 Issuing Capacity (mill ) 7.271 Number of loans 1.304.950 Average Maturity (years) 5,9 Average loan Balance ( ) 80.205 WA Seasoning (years) 8,2 yrs RATINGS WA Remaining Term (years) 17,5 yrs Moody's Aa2 WA LTV 5 DBRS AA (high) WA LTV Elegible Pool 44 S&P A+ Spanish Public Sector Covered Bond Programme PUBLIC SECTOR COVER POOL PUBLIC SECTOR COVERED BONDS Cover Pool Size (mill ) 11.061 Outstanding nominal (mill ) 7.050 Number of loans 6.026 OC 157 Average loan Balance ( ) 1.835.465 Issuing Capacity 692 WA Seasoning (years) 3,5 yrs Average Maturity (years) 3,0 WA Remaining Term (years) 5,9 yrs RATINGS Moody's Aa2 Issuing capacity & Collateral type Remaining Issuing Capacity 7.964 Mn Collateral by Type 3
CaixaBank Mortgage Covered Bond Programme Remaining Issuing Capacity Data in million Mortgages Total Collateral for Covered Bonds 104.663 Eligible Portfolio 63.664 Cédulas Hipotecarias Used Collateral 54.575 Covered Bond Issued Amount 43.660 Over Collaterization 240 Available Collateral 9.089 REMAINING ISSUING CAPACITY (*) 7.271 (*) Issuing Capacity= 80 of Collateral Available for C. Hipotecarias and 70 for C. Territoriales Maturity Profile Total Covered Bonds -> 43.660 Mn Public -> 23.570 Mn Retained -> 20.090 Mn 4
CaixaBank Mortgage Covered Bond Programme OC Evolution Active and prudent collateral management, focus on adding value to investors TOTAL OC: 240 OC comfortably above the legally required ratio LEGAL OC: 146 5
CaixaBank Mortgage Covered Bond Programme RESIDENTIAL ASSETS Cover Pool Description Main figures Total Mortgage Loans (ex securitization) ( k) 78.797.610 Number of loans 75,3 1.160.921 Average Loan balance ( ) 67.875 WA LTV () 51,0 First Rank 93,6 Floating Rate loan Interest Rate type: 96,5 Number of Borrowers 1.003.940 WA Interest Rate (Floating Rate loans) 1,5 Number of properties 1.220.781 WA Interest Rate (Fixed Rate loans) 2,8 WA Seasoning in months 103,9 8,7 yrs WA Remaining term in months 229,4 19,1 yrs Portfolio Breakdown Unindexed LTV Ranges Distributions Total Loan Balance (ex sec) k 95,0 of the pool with LTV <80 0-40 22.628.114 28,7 >40-50 14.299.889 18, >50-60 15.813.078 20, >60-70 13.769.459 17,5 >70-80 8.353.061 10,6 >80-85 1.454.968 1,8 >85-90 992.428 1,3 >90-95 574.714 0,7 >95-100 350.649 0,4 >100-105 156.362 0,2 >105 404.888 0,5 78.797.610 Seasoning Seasoning (months) k < 12 5.061.311 6,4 12-<24 3.002.082 3,8 24-<36 1.947.884 2,5 36-<60 5.480.941 60 63.305.392 78.797.610 7,0 80,3 6
CaixaBank Mortgage Covered Bond Programme RESIDENTIAL ASSETS 90 Property type First Home Second Home Not Owner occupied Other k 70.974.761 6.186.282 916.695 719.872 90 8 First home loans represent 90 of the residential pool 78.797.610 8 Loan Purpose k Adquisition 52.283.657 66 Re-mortgage 12.342.711 16 Equity release 3.603.421 5 Rehabilitation 5.022.610 6 New construction 3.505.834 4 Other 2.039.377 3 First Home 70 Second Home Not Owner occupied Other 66 60 50 40 78.797.610 30 20 Regional Distribution k 10 0 Catalonia 21.904.015 28 Andalusia 14.019.141 18 Madrid 10.507.892 13 16 Adquisition Re-mortgage 5 6 Equity release Rehabilitation Valencia 6.292.254 8 Canary Islands 5.218.665 7 Balearic Islands 3.159.113 4 Castile León 2.972.067 4 Castile La Mancha 2.099.911 3 CATALUÑA Navarra 2.555.657 3 28 Basque Country 2.159.433 3 Murcia 1.922.809 2 Galicia 1.739.070 2 Aragon 2 VALENCIA 8 Extremadura 682.656 Asturias 579.797 Others/ No info 509.262 Ceuta 76.184 0 Melilla 20.458 78.797.610 0 Other 13 684.077 New construction MADRID 1.300.994 394.153 3 Regions with weight >5.0 Cantabria La Rioja 4 > 20 CANARIAS 7 ANDALUCIA 18 Between 10-20 Between 5-10 Between 3-5 Between - 3 < 7
CaixaBank Mortgage Covered Bond Programme COMMERCIAL ASSETS Cover Pool Description Main figures Saldo total de los préstamos (ex-titulizaciones) (miles ) 25.865.925 LTV medio ponderado () 51,5 Número de préstamos 144.029 Préstamos a tipo variable: Saldo medio préstamos ( ) 179.588 Tipo medio ponderado (de préstamos a tipo variable) 2,2 Tipo medio ponderado (de préstamos a tipo fijo) 5, Número de deudores 85.533 Número de propiedades 95,0 184.250 Antigüedad media ponderada (meses) 82,8 Vencimiento residual medio ponderado (años) 149,6 6,9 años 12,5 años Portfolio Breakdown Unindexed LTV Ranges Distribution Total Loan Balance (ex sec) k 0-40 8.749.724 33,8 >40-50 4.584.653 17,7 >50-60 4.875.738 18,9 >60-70 2.921.930 11,3 >70-80 1.985.206 7,7 >80-85 593.605 2,3 >85-90 353.943 1,4 >90-95 398.696 1,5 >95-100 559.516 2,2 >100-105 164.736 0,6 >105 678.177 2,6 25.865.925 RE (Flat & Houses) assets steadily declining Property Type k Offices 1.449.806 5,6 Commercial stores 5.209.547 20, Industrial 2.525.422 9,8 Hotel 1.974.477 7,6 Flats & Houses 4.785.718 18,5 Land 2.070.271 8,0 Mixed Use 5.242.638 20,3 2.608.047 25.865.925 10, Others 8
CaixaBank Mortgage Covered Bond Programme COMMERCIAL ASSETS Portfolio Breakdown Loan Maturity (yrs) k 5 4.177.879 16,2 >5-10 6.817.266 26,4 >10-15 6.340.050 24,5 >15-25 7.129.322 27,6 >25-50 1.401.408 5,4 25.865.925 Regional Distribution k Catalonia 6.095.456 23,6 Madrid 4.825.471 18,7 Andalusia 4.415.676 17, Valencia 2.291.313 8,9 Canary Islands 2.242.574 8,7 Balearic Islands 1.113.939 4,3 Castile León 754.133 2,9 Navarra 649.075 2,5 Castile La Mancha 611.059 2,4 Basque Country 492.179 1,9 Galicia 477.436 1,8 Murcia 438.324 1,7 MADRID Others/ No info 416.981 1,6 19 Aragon 402.574 1,6 Asturias 241.434 0,9 Extremadura 182.831 0,7 Cantabria 129.144 0,5 La Rioja 68.614 0,3 Ceuta 12.489 0,0 Melilla 5.222 0,0 25.865.925 100 CATALUÑA 24 VALENCIA 9 > 20 CANARIAS 9 ANDALUCIA 17 Between 10-20 Between 5-10 Between 3-5 Between - 3 < 9
CaixaBank Public Sector Covered Bond Programme Remaining Issuing Capacity Data in million Public Sector Total Collateral for Covered Bonds Eligible Portfolio 11.061 11.061 Cédulas Territoriales Used Collateral Covered Bond Issued Amount Over Collaterization 10.071 7.050 157 Available Collateral REMAINING ISSUING CAPACITY (*) 989 692 (*) Issuing Capacity= 80 of Collateral Available for C. Hipotecarias and 70 for C. Territoriales (**) Due to the early amortisation of 3 Bn of retained cedulas on April 15th, OC ratio is currently higher Maturity Profile Total Covered Bonds -> 7.050 Mn Public -> 88 Mn Retained -> 6.962 Mn 10
CaixaBank Public Sector Covered Bond Programme Cover Pool Description Main figures Total Mortgage Loans (ex securitization) ( k) 11.060.511 Number of loans 6.026 Average Loan balance ( ) Number of Borrowers WA Interest Rate (Floating Rate loans) 1.597 Average exposure to borrowers ( ) WA Interest Rate (Fixed Rate loans) 89, 2,4 6.925.805 WA Remaining term in months WA Seasoning in months Floating Rate loan Interest Rate type: 1.835.465 (1) 70,7 5,9 yrs 41,8 3,5 yrs Avg LTV () 53,3 WA LTV () 63,3 Portfolio Breakdown Loans Maturity k Loan Maturity < 12 4.209.905 38 12-<24 347.355 24-<36 483.483 36-<60 1.066.072 10 4.953.696 45 60 3 4 11.060.511 Loans in Arreas <2m 2m - <6m 6m - <12m 12m 0,4 0,5 0,7 1,7 11
Appendix 1: CaixaBank Covered Bond Issuances Spanish Mortgages - Public Deals Covered Bonds ISIN Currency Issue Date ES0414970345 28/11/2006 ES0414970295 28/06/2006 ES0440609024 14/11/2011 ES0440609040 ES0414970378 Outstanding ( ) Maturity Date Coupon Investor Type 250.000.000 28/11/2016 Eur 3m+0.06 2.000.000.000 26/01/2017 4,25 250.000.000 26/01/2017 4,25 16/02/2012 16/02/2017 4,00 30/03/2007 227.500.000 20/03/2017 Eur 3m+0.045 ES0414970410 13/07/2007 25.000.000 20/03/2017 Eur 3m+0.045 ES0414970352 22/01/2007 6.380.000 30/03/2017 Eur 3m +0.00 Retail ES0440609263 30/07/2014 300.000.000 30/07/2017 Eur 3m+0.50 ES0414965105 22/09/2009 150.000.000 22/09/2017 Eur 3m + 1,50 ES0414970394 09/05/2007 13.462.000 30/09/2017 Eur 3m+0. Retail ES0414970220 09/01/2006 09/01/2018 Eur 3m+0.075 ES0440609206 22/03/2013 22/03/2018 3,00 ES0414970568 ES0414970196 02/07/2010 31/10/2003 300.000.000 02/07/2018 31/10/2018 Eur 3m+0.439 4,75 ES0414970543 07/05/2010 100.000.000 07/05/2019 Eur 3m+0.439 ES0414970402 04/06/2007 2.500.000.000 04/06/2019 4,625 ES0440609305 12/11/2015 12/11/2020 0,625 ES0414970246 18/01/2006 2.500.000.000 18/01/2021 3,625 ES0414970501 14/05/2009 175.000.000 14/05/2021 Eur 3m+ ES0414970303 28/06/2006 26/01/2022 4,500 ES0440609313 08/02/2016 1.500.000.000 08/02/2023 1,000 ES0440609248 21/03/2014 21/03/2024 2,625 ES0414970204 17/02/2005 2.500.000.000 17/02/2025 3,880 ES0440609271 27/03/2015 27/03/2025 0,625 ES0414970451 13/06/2008 100.000.000 13/06/2038 5,432 12
Appendix 1: CaixaBank Covered Bond Issuances Spanish Mortgages - Retained Deals Covered Bonds ISIN Currency Issue Date ES0413985021 27/04/2009 ES0440609198 26/07/2012 ES0440609115 ES0413985039 ES0440609123 Outstanding ( ) Maturity Date Coupon Investor Type 27/06/2019 Eur 12m+0.20 175.000.000 26/07/2020 Eur 6m+4.70 07/06/2012 2.000.000.000 07/06/2022 Eur 6m +3.85 27/04/2009 07/06/2012 390.000.000 27/09/2022 07/06/2023 Eur 12m+0.25 Eur 6m +3.80 ES0440609131 07/06/2012 2.900.000.000 07/06/2024 Eur 6m +3.80 ES0440609149 ES0440609156 07/06/2012 19/06/2012 3.000.000.000 07/06/2025 19/06/2026 Eur 6m +3.75 Eur 6m +3.75 ES0440609164 03/07/2012 03/07/2027 Eur 6m+4 ES0440609172 17/07/2012 750.000.000 17/07/2027 Eur 6m+4.25 ES0413980022 02/08/2011 150.000.000 02/08/2027 Eur 3m+3.85 ES0440609180 17/07/2012 2.800.000.000 17/07/2028 Eur 6m+4.25 ES0413985047 10/07/2014 10/07/2024 Eur 12m+0.82 Maturity Date Coupon Investor Type Registered - Covered Bonds ISIN Currency Issue Date Outstanding ( ) ---------------------- 12/12/2008 200.000.000 12/12/2016 Eur 3m +0.00 ---------------------- 01/10/2008 20.000.000 01/10/2048 5,32 Maturity Date Coupon Investor Type 02/02/2037 Libor 3m +0.00 Spanish Mortgages - Covered Bonds (non ) ISIN XS0273475094 Currency Issue Date USD 01/11/2006 Outstanding 255.000.000 13
Appendix 1: CaixaBank Covered Bond Issuances Spanish Public Sector - Covered Bonds ISIN Currency Issue Date ES0448873051 01/02/2012 ES0440609230 07/06/2013 ES0440609057 24/05/2012 ES0440609065 ES0440609289 Outstanding ( ) Maturity Date Coupon Investor Type 250.000.000 01/02/2017 6,50 1.300.000.000 07/06/2018 3,00 500.000.000 24/05/2018 4,90 24/05/2012 500.000.000 24/05/2019 5,20 19/06/2015 1.500.000.000 19/06/2019 Eur 6m+0.20 ES0440609255 26/03/2014 1.500.000.000 26/03/2020 Eur 6m+0.95 ES0440609297 19/06/2015 1.500.000.000 19/06/2021 Eur 6m+0.25 14
Appendix 1: CaixaBank Covered Bond Issuances Spanish Multi-Issuers - Public Covered Bonds Código ISIN CaixaBank Contribution ( ) Divisa Fecha emisión ES0312298104 18/12/2006 150.000.000 ES0312298112 19/03/2007 250.000.000 ES0312298062 26/05/2006 ES0317047001 ES0312298039 Total Issue Outstanding ( ) Maturity Date Coupon Investor Type 2.575.000.000 16/12/2016 4,0 2.000.000.000 17/03/2017 4,00 50.000.000 24/05/2017 Eur 3m+0.086 15/06/2005 100.000.000 2.000.000.000 20/06/2017 3,50 20/02/2006 75.000.000 1.195.000.000 20/02/2018 Eur 3m+0.11934 ES0312298070 12/06/2006 110.000.000 2.230.000.000 12/06/2018 4,25 ES0371622038 23/10/2006 300.000.000 1.150.000.000 19/10/2018 4,00 ES0370148019 02/12/2003 461.322.580 2.100.000.000 02/12/2018 4,76 ES0312362017 16/11/2004 53.658.537 1.100.000.000 16/11/2019 4,26 ES0312358015 15/03/2005 228.958.334 1.500.000.000 15/03/2020 4,00 ES0347849004 13/06/2005 150.000.000 1.250.000.000 13/06/2020 3,5 ES0312298054 22/03/2006 300.000.000 1.500.000.000 22/03/2021 4,00 ES0347784003 29/03/2006 275.000.000 1.250.000.000 29/03/2021 4,0 ES0371622012 25/05/2006 100.000.000 2.310.000.000 10/04/2021 4,13 ES0349045007 16/02/2007 250.000.000 1.300.000.000 21/02/2022 4,5 ES0312298021 12/12/2005 167.222.224 1.400.000.000 12/12/2022 3,75 ES0312298096 23/10/2006 300.000.000 1.600.000.000 23/10/2023 4,25 ES0312342019 28/06/2005 128.205.128 2.000.000.000 28/06/2025 3,75 ES0371622046 28/03/2007 300.000.000 1.310.000.000 28/03/2027 4,25 ES0312298120 23/05/2007 250.000.000 1.545.000.000 23/05/2027 4,76 ES0371622020 10/04/2006 450.000.000 1.310.000.000 08/04/2031 4,25 Maturity Date Coupon Investor Type Spanish Multi-Issuers - Retained Covered Bonds Código ISIN CaixaBank Contribution ( ) Total Issue Outstanding ( ) Divisa Fecha emisión ES0312298153 19/10/2007 300.000.000 2.810.000.000 21/10/2017 Eur 3m+0.165 ES0312298153 21/01/2008 200.000.000 2.810.000.000 21/10/2017 Eur 3m+0.16849 ES0312298153 16/04/2008 100.000.000 2.810.000.000 21/10/2017 Eur 3m+0.165 ES0312298153 16/04/2008 100.000.000 2.810.000.000 21/10/2017 Eur 3m+0.16849 15
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