Banca IFIS shares

The share price

As from 29 November 2004, Banca IFIS S.p.A.’s ordinary shares have been listed in the STAR segment of Borsa Italiana (the Italian stock exchange). The transfer to STAR occurred a year after the listing on the Mercato Telematico Azionario (MTA, an electronic stockmarket) of Borsa Italiana S.p.A.. Previously, as from 1990, the shares had been listed on the Mercato Ristretto (MR, a restricted market) of Borsa Italiana. The following table shows the share prices at the end of the year. As from 18 June 2012, Banca IFIS joined the Ftse Italia Mid Cap index.

Official share price 2015 2014 2013 2012 2011
Share price at year-end 28,83 13,69 12,95 5,53 4,00



    

Price/book value

The following table shows the ratio of the share price at year-end to consolidated equity with respect to outstanding shares.

Price/book value 2015 2014 2013 2012 2011
Share price at year-end 28,83 13,69 12,95 5,53 4,00
Consolidated Equity per share 10,81 8,27 7,21 5,77 3,72
Price/book value 2,67 1,65 1,80 0,96 1,08
 
Outstanding shares 2015 2014 2013 2012 2011
Number of share outstanding
(in thousands)(1)
53.072 52.924 52.728 53.551 52.814

(1) Outstanding shares are net of treasury shares held in the portfolio.

Earnings per share and Price/Earnings

Here follows the ratio of the consolidated profit for the year to the weighted average of the ordinary shares outstanding at year-end, net of treasury shares in portfolio, as well as the ratio of the year-end price to consolidated earnings per share.

Earnings per share (EPS) 2015 2014 2013 2012 2011
Consolidated profit for the year
(in thousands of Euro)
161.966 95.876 84.841 78.228 26.535
Consolidated earnings per share 3,05 1,81 1,61 1,46 0,51
 
Price/earnings ratio (P/E) 2015 2014 2013 2012 2011
Share price at year-end 28,83 13,69 12,95 5,53 4,00
Consolidated profit for the year 3,05 1,81 1,61 1,46 0,51
P/E 9,4 7,6 8,0 3,8 7,9

Payout ratio

For 2015, the Board of Directors proposed to the Shareholders’ Meeting to distribute a dividend of 0,76 Euro per share.

Payout ratio
(in thousands of Euro)
2015 2014 2013  2012 2011
Consolidated profit for the year 161.966 95.876 84.841 78.228 26.535
Parent company dividends 40.334 34.930 30.055 19.813 13.434
Payout ratio 24,9% 36,4% 35,4% 25,4% 50,6%

The 2015 payout ratio was influenced by the gain from the rebalancing of the government bond portfolio that went to bolster the Bank's capital position. Excluding this net component from the profit for the year, the 2015 payout ratio would stand at 51,3%

Shareholders

The share capital of the Parent Company at 31 December 2015 amounted to 53.811.095 Euro and is broken down into 53.811.095 shares with a par value of 1 Euro each.

The following table shows Banca IFIS's shareholders that, either directly or indirectly, own equity instruments with voting rights representing over 2% of Banca IFIS's share capital:

Shareholders

Corporate governance rules

Banca IFIS adopted the Corporate Governance Code for listed companies.

A Control and Risks Committee and an Appointments and Remuneration Committee have been set up within the Bank’s Board of Directors, which has also appointed a Supervisory Board with independent powers of action and control as per Legislative Decree 231/2001.

Internal dealing rules

Banca IFIS S.p.A. has been adopting for some time now a specific Code of Conduct as regards internal dealing. The aim of this Code of Conduct is to make internal regulations and procedures compliant with disclosure requirements concerning any significant transactions carried out by relevant subjects, or parties closely related to them, on financial instruments issued by the company or other related instruments, hence ensuring the transparency and consistency of information disclosed to the market.

This Code, in addition to identifying the relevant subjects—and defining their conduct and disclosure requirements—and the person responsible for receiving, managing and disseminating information, also forbids said transactions in the 15 days prior to Board of Directors’ Meetings convened to approve financial statements (blackout periods).

This Code of Conduct for internal dealing is available on the Company’s website, www.bancaifis.com, under the ‘Investor Relations’ section.

List of Insiders

In compliance with article 115-bis of Legislative Decree no. 58/1998, Banca IFIS has created a list of individuals who, in performing their professional and work duties or in carrying out their activity, have access to privileged information (the list of insiders). Banca IFIS constantly updates this list.

In addition, the Bank has laid down regulations for the internal management and external dissemination of documents and corporate information.