Prospectus UBI Banca Covered Bond Programme

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Prospectus SUMMARY OF FINANCIAL INFORMATION OF THE ISSUER The merger by incorporation of Banca Lombarda into BPU became effective on 1 April 2007 and, with effect from that date, BPU changed its name to Unione di Banche Italiane S.c.p.a. Accordingly, the annual financial statements of the Issuer as at and for the year ended 31 December 2007 are the first annual financial statements pertaining to UBI Banca as a merged entity. The following tables present balance sheet and income statement information related to: • the consolidated and individual annual financial statements of the Issuer as at and for the year ended 31 December 2008 for the Group and • the consolidated and individual annual financial statements of the Issuer as at and for the year ended 31 December 2007 which include the full year accounts for former BPU and the accounts for the last three quarters of 2007 (since the date the merger was effective) for the former Banca Lombarda, restated in 2008 to take account of the different classification adopted during that year of an institutional counterparty and the emoluments of the Statutory Board of Auditors; therefore, the consolidated and individual financial information as at and for the year ended 31 December 2007 set out in the tables below is not directly comparable to the consolidated and individual financial information as at and for the year ended 31 December 2008 and has been derived from the 2008 audited consolidated and individual financial statements of the UBI Banca Group, prepared in accordance with International Financial Reporting Standards, as adopted by the European Union and as implemented under the Bank of Italy's instructions contained in Circular No. 262 of 22 December 2005 and related transitional regulations in Italy ("IFRS") and have been audited by KPMG S.p.A., whose reports are attached to such financial statements. All figures are in thousand Euro unless otherwise stated. The information set out in the tables below should be read in conjunction with, and is qualified in its entirety by reference to, the full financial statements referred to above, in each case together with the accompanying notes and auditors' reports, all of which are incorporated by reference in this Prospectus. - 110 -
Prospectus (thousands of Euro) UNIONE DI BANCHE ITALIANE S.C.P.A. (FORMERLY KNOWN AS BANCHE POPOLARE UNITE S.C.P.A.) CONSOLIDATED ANNUAL BALANCE SHEETS 31.12.2008 UBI Banca Group 31.12.2007 UBI Banca Group Assets Cash and cash equivalents........................................................................................................... 793,657 643,128 Financial assets held for trading.................................................................................................. 2.326,654 3,811,580 Financial assets at fair value ....................................................................................................... 460,157 1,333,586 Available-for-sale financial assets .............................................................................................. 4,351,838 5,729,003 Held-to-maturity financial assets ................................................................................................ 1,630,844 1,254,520 Loans to banks ............................................................................................................................ 3,053,704 3,695,284 Loans to customers ..................................................................................................................... 96,368,452 92,941,317 Hedging derivatives .................................................................................................................... 792,398 261,479 Fair value change of hedged financial assets (+/-) ...................................................................... 335,417 (7,685) Equity investments...................................................................................................................... 246,099 183,448 Technical reserves of reinsurers.................................................................................................. 88,362 253,301 Property, plant and equipment .................................................................................................... 2,170,867 2,178,566 Intangible assets.......................................................................................................................... 5,531,633 5,621,122 of which: goodwill ...................................................................................................................... 4,338,486 4,357,381 Tax assets.................................................................................................................................... 1,512,530 1,204,069 (a) current ................................................................................................................................. 746,975 726,794 (b) deferred................................................................................................................................ 765,555 477,275 Non-current assets and disposal groups held for sale .................................................................. 18,931 13,205 Other assets................................................................................................................................. 2,274,142 2,375,643 Total assets........................................................................................................ 121,955,685 121,491,566 Liabilities Due to banks ............................................................................................................................... 3,980,922 7,736,405 Due to customers ........................................................................................................................ 54,150,681 50,164,004 Securities issued.......................................................................................................................... 43,440,556 40,817,869 Financial liabilities held for trading ............................................................................................ 799,254 865,207 Hedging derivatives .................................................................................................................... 635,129 351,723 Tax liabilities .............................................................................................................................. 1,514,050 1,776,140 (a) current ................................................................................................................................. 744,869 689,036 (b) deferred................................................................................................................................ 769,181 1,087,104 Liabilities associated with disposal groups held for sale............................................................. 4,412 — Other liabilities ........................................................................................................................... 4,030,238 3,499,989 Staff severance provisions .......................................................................................................... 433,094 469,879 Provision for liabilities and charges:........................................................................................... 295,429 321,730 (a) pension and similar obligations ........................................................................................... 81,285 84,139 (b) other provisions ................................................................................................................... 214,144 237,591 Technical reserves....................................................................................................................... 408,076 2,590,644 Valuation reserves....................................................................................................................... (70,296) 37,485 Reserves...................................................................................................................................... 2,443,259 2,195,597 Share premium............................................................................................................................ 7,100,378 7,100,378 Share capital ............................................................................................................................... 1,597,865 1,597,865 Minority interests........................................................................................................................ 1,123,637 1,085,839 Profit for the period..................................................................................................................... 69,001 880,812 Total liabilities and shareholders' equity................................................................. 121,955,685 121,491,566 - 111 -
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Prospectus UNIONE DI BANCHE ITALIAN
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Prospectus Figures included in this
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Prospectus INFORMATION INCORPORATED
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Prospectus SUPPLEMENTS, FINAL TERMS
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Prospectus Structure Overview • P
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Prospectus on any Interest Payment
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Prospectus the Conditions and the D
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Prospectus deferral will occur auto
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Prospectus AAA Aaa AAA Governing La
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Prospectus Guarantee in respect of
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Prospectus of each individual Cover
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Prospectus Securitisation and Cover
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Prospectus securities. Generally, t
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Prospectus Catastrophic events, ter
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Prospectus Reliance on Swap Provide
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Prospectus There is no guarantee th
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Prospectus • the right to request
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Prospectus (e) Monte Titoli Mandate
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Prospectus "Calculation Agent" mean
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Prospectus "D 1 " is the first cale
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Prospectus (ii) (iii) (iv) (v) an a
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Prospectus "Optional Redemption Dat
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Prospectus "Relevant Dealer(s) " me
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Prospectus 4. Status and Guarantee
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Prospectus (d) ISDA Determination I
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Prospectus (b) Extension of maturit
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Prospectus Bondholder. Once deposit
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Prospectus withheld or assessed by
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Prospectus (v) Invalidity of the Co
Page 59 and 60: Prospectus all respects except for
Page 61 and 62: Prospectus 1. GENERAL RULES OF THE
Page 63 and 64: Prospectus "Voter" means, in relati
Page 65 and 66: Prospectus 5. VALIDITY OF BLOCK VOT
Page 67 and 68: Prospectus where applicable, modifi
Page 69 and 70: Prospectus 15.2 The Chairman and a
Page 71 and 72: Prospectus Removal and Remuneration
Page 73 and 74: Prospectus TITLE III THE REPRESENTA
Page 75 and 76: Prospectus 28.6 Discretions Save as
Page 77 and 78: Prospectus 29.2.16 shall not, if in
Page 79 and 80: Prospectus 30.7 Certificates of Par
Page 81 and 82: Prospectus 32.5 Notice of waiver If
Page 83 and 84: Prospectus FORM OF FINAL TERMS Set
Page 85 and 86: Prospectus [Instalment] [The Covere
Page 87 and 88: Prospectus (xv) Fall back provision
Page 89 and 90: Prospectus (i) Optional Redemption
Page 91 and 92: Prospectus These Final Terms compri
Page 93 and 94: Prospectus 5. [Fixed Rate Covered B
Page 95 and 96: Prospectus USE OF PROCEEDS The net
Page 97 and 98: Prospectus Calabria, Vibo Valentia,
Page 99 and 100: Prospectus (ix) a banking network o
Page 101 and 102: Prospectus The actual Supervisory B
Page 103 and 104: Prospectus Name Position Principal
Page 105 and 106: Prospectus The Supervisory Board al
Page 107 and 108: Prospectus General Management Name
Page 109: Prospectus approvals from CONSOB an
Page 113 and 114: Prospectus (thousands of Euro) UNIO
Page 115 and 116: Prospectus Defaulted and problem lo
Page 117 and 118: Prospectus Introduction THE GUARANT
Page 119 and 120: Prospectus Banca Popolare di Bergam
Page 121 and 122: Prospectus ( * ) Member of Executiv
Page 123 and 124: Prospectus Figures in thousands of
Page 125 and 126: Prospectus Name Franco Bossoni( * )
Page 127 and 128: Prospectus (In thousands of Euro) 3
Page 129 and 130: Prospectus of the bank. In accordan
Page 133 and 134: Prospectus Management Banca Regiona
Page 135 and 136: Prospectus INCOME STATEMENT (In tho
Page 137 and 138: Prospectus Detail of amounts due to
Page 141 and 142: Prospectus Funding Banca Carime's p
Page 145 and 146: Prospectus Funding Banca di Valle C
Page 149 and 150: Prospectus Direct funding from cust
Page 153 and 154: Prospectus Direct funding from cust
Page 157 and 158: Prospectus Loans to customers as at
Page 159 and 160: Prospectus Covered Bond Guarantee S
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Prospectus Master Loans Purchase Ag
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Prospectus Master Servicer shall al
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Prospectus receive instructions fro
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Prospectus notice substantially in
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Prospectus price reasonably availab
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Prospectus Rating Downgrade Event U
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Prospectus in the name and on behal
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Prospectus CREDIT STRUCTURE The Cov
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Prospectus "Z" stands for the weigh
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Prospectus "Z" stands for the weigh
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Prospectus Pre-Issuer Event of Defa
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Prospectus (f) (g) (h) (i) Sixth, t
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Prospectus • the payment of which
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Prospectus DESCRIPTION OF CERTAIN R
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Prospectus The issuing bank The Ban
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Prospectus and the Covered Bond Gua
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Prospectus Finally the Prepayment P
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Prospectus authorised intermediary,
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Prospectus Where an Italian residen
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Prospectus terminate at the end of
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Prospectus and (3) an annual net tu
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Prospectus Listing and Admission to
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Prospectus GLOSSARY "Accounts" mean
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Prospectus "Commercial Mortgage Loa
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Prospectus guarantee) by an entity
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Prospectus "Initial Portfolio" mean
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Prospectus "Luxembourg BdB Interest
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Prospectus "Post-Enforcement Priori
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Prospectus "Representative of the C
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Prospectus "Transfer Date" means: (
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Prospectus PRINCIPAL PAYING AGENT T
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Prospectus UBI Banca Covered Bond Programme

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