Prospectus UBI Banca Covered Bond Programme

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Prospectus (thousands of Euro) UNIONE DI BANCHE ITALIANE S.C.P.A. (FORMERLY KNOWN AS BANCHE POPOLARE UNITE S.C.P.A.) CONSOLIDATED ANNUAL INCOME STATEMENTS 31.12.2008 UBI Banca Group 31.12.2007 UBI Banca Group Interest income and similar......................................................................................................... 6,190,249 5,255,442 Interest expense and similar........................................................................................................ (3,193,905) (2,683,449) Net interest income ............................................................................................. 2,996,344 2,571,993 Commission income ................................................................................................................... 1,387,721 1,422,798 Commission expenses................................................................................................................. (199,446) (207,179) Net commission income........................................................................................ 1,188,275 1,215,619 Dividend and similar income ...................................................................................................... 71,204 83,249 Net profit (loss) from trading...................................................................................................... (142,274) 30,232 Net profit (loss) from hedging activity........................................................................................ (18,459) 4,541 Profit (losses) from disposal or repurchase of:............................................................................ 29,452 46,953 (a) loans .................................................................................................................................... (8,147) (140) (b) available-for-sale financial assets........................................................................................ 30,046 40,342 (c) other financial transaction................................................................................................... 7,553 6,751 Net profit (loss) on financial assets and liabilities at fair value ................................................... (118,035) 1,607 Gross income..................................................................................................... 4,006,507 3,954,194 Net impairment losses on............................................................................................................ (1,069,718) (356,512) (a) loans .................................................................................................................................... (559,168) (328,015) (b) available-for-sale financial assets........................................................................................ (516,917) (20,046) (c) financial liabilities ............................................................................................................... 6,367 (8,451) Net financial operating income.............................................................................. 2,936,789 3,597,682 Net insurance premiums ............................................................................................................. 189,040 402,298 Other net profit (loss) in insurance operations ............................................................................ (191,426) (421,586) Net income from financial and insurance operations................................................. 2,934,403 3,578,394 Administrative expenses ............................................................................................................. (2,581,014) (2,489,011) (a) staff costs ............................................................................................................................. (1,631,974) (1,604,383) (b) other administrative expenses .............................................................................................. (949,040) (884,628) Net provisions for liabilities and charges .................................................................................... (34,489) (29,968) Net impairment losses on property, plant and equipment............................................................ (123,567) (124,118) Net impairment losses on intangible assets ................................................................................. (151,045) (107,878) Other operating income (expense) .............................................................................................. 226,884 269,006 Operating costs .................................................................................................. (2,663,231) (2,481,969) Profits (losses) on equity investment........................................................................................... 2,050 15,248 Profits (losses) on disposal investments...................................................................................... 82,953 22,085 Profit (loss) on continuing operations before tax....................................................... 356,175 1,133,758 Taxes on profit for the period for continuing operations............................................................. (192,861) (460,673) After tax profit (loss) on continuing operations ........................................................ 163,314 673,085 Profit (loss) after tax from discontinued operations .................................................................... (15,727) 308,547 Profit (loss) for the period .................................................................................... 147,587 981,632 Profit (loss) for the period attributable to minority interests ....................................................... (78,586) (100,820) Profit (loss) for the period attributable to the parent bank ......................................... 69,001 880,812 - 112 -
Prospectus (thousands of Euro) UNIONE DI BANCHE ITALIANE S.C.P.A. ANNUAL BALANCE SHEET 31.12.2008 UBI Banca S.c.p.a 31.12.2007 UBI Banca S.c.p.a Assets Cash and cash equivalents.......................................................................................................... 246,460 66,812 Financial assets held for trading................................................................................................. 2,424,111 2,753,772 Financial assets at fair value ...................................................................................................... 460,157 981,148 Available-for-sale financial assets ............................................................................................. 2,767,513 2,060,909 Held-to-maturity financial assets ............................................................................................... 1,620,567 1,244,574 Loans to banks ........................................................................................................................... 29,298,338 19,708,390 Loans to customers .................................................................................................................... 10,446,768 10,266,958 Hedging derivatives ................................................................................................................... 72,787 48,975 Equity investments..................................................................................................................... 11,909,207 11,606,918 Property, plant and equipment ................................................................................................... 677,218 678,205 Intangible assets......................................................................................................................... 596,756 588,673 of which: goodwill ..................................................................................................................... 569,058 569,694 Tax assets................................................................................................................................... 593,405 528,085 (a) current ................................................................................................................................ 343,012 470,932 (b) deferred............................................................................................................................... 250,393 57,153 Non-current assets and disposal groups held for sale ................................................................. 13,931 43,866 Other assets................................................................................................................................ 856,102 1,404,608 Total assets....................................................................................................... 61,983,317 51,981,893 Liabilities Due to banks .............................................................................................................................. 28,732,515 20,505,577 Due to customers ....................................................................................................................... 5,813,895 2,872,466 Securities issued......................................................................................................................... 14,128,184 14,657,253 Financial liabilities held for trading ........................................................................................... 1,222,187 842,341 Hedging derivatives ................................................................................................................... 74,820 54,001 Tax liabilities ............................................................................................................................. 411,849 606,326 (a) current ................................................................................................................................ 291,227 458,290 (b) deferred............................................................................................................................... 120,622 148,035 Other liabilities .......................................................................................................................... 1,186,375 1,421,758 Staff severance provisions ......................................................................................................... 44,483 51,037 Provision for liabilities and charges:.......................................................................................... 10,329 8,993 (a) other provisions .................................................................................................................. 10,329 8,993 Valuation reserves...................................................................................................................... 12,842 24,456 Reserves..................................................................................................................................... 1,623,711 1,411,660 Share premiums ......................................................................................................................... 7,100,378 7,100,378 Share capital .............................................................................................................................. 1,597,865 1,597,865 Profit for the period.................................................................................................................... 23,886 827,781 Total liabilities and shareholders' equity................................................................ 61,983,317 51,981,893 - 113 -
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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
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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 and 110: Prospectus approvals from CONSOB an
Page 111: 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
Page 161 and 162: 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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