Credito Emiliano (CE) investor relations material

Executive summary

• 9M26 net profit was €458.8m, down from reported €506.4m in 9M25; excluding the €98.6m after-tax merchant-acquiring disposal gain, prior-year profit was €407.7m and net profit rose 12.5%.

• Net interest and other banking income rose 9.3% to €1,533.5m; operating profit increased 15.1% to €733.5m.

• Total assets grew 1.3% from year-end to €69.0bn; shareholders’ equity reached €4.83bn, up 3.6%.

• More than 164,000 new customers were acquired; loans grew 17.2% over five years, versus a 1.0% industry contraction.

Financial highlights

• Financial margin rose 5.4% to €762.9m; customer spread was 3.03% versus 2.87%, and the securities portfolio was €12.6bn.

• Non-interest margin rose 13.5% to €770.6m; net fee and commission income increased 13.2% to €605.7m, led by management and brokerage fees, up 17.0%.

• Gross operating profit rose 14.2% to €821.5m; profit before tax increased 1.3% to €713.6m, while reported net profit fell 9.4%.

• Operating expenses rose 4.2% to €712.0m; personnel costs increased 5.2% to €471.0m and other administrative expenses 2.5% to €241.0m.

• Net loan adjustments were €28.2m versus €18.4m; tax expense rose to €254.7m from €198.3m, with a 36% tax rate.

Outlook and guidance

• For the remainder of 2026, net interest income is expected to benefit from interest-rate movements and volume growth; fees are expected to reflect asset gathering and inflows, even if prices correct.

• Personnel and operating costs are expected to increase to sustain service quality and strategic investment; cost of credit is expected to remain broadly in line with recent levels.

• The 2026 hiring plan targets over 380 hires, following more than 280 in 9M26; corporate ESG financing and green leasing are tracking toward a full-year target of at least €750m.

• Priorities include commercial and private banking, wealth and non-banking growth, digital services, AI, cyber security, data governance, regulatory projects and ESG integration.