Prospectus UBI Banca Covered Bond Programme

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<strong>Prospectus</strong> UNIONE DI BANCHE ITALIANE S.C.P.A. ANNUAL INCOME STATEMENT Figures in thousands of Euro 31.12.2008 31.12.2007 Interest and similar income....................................................................................................... 1,844,325 1,242,693 Interest expense and similar...................................................................................................... (2,095,114) (1,426,879) Net interest income ........................................................................................... (250,789) (184,186) Commission income ................................................................................................................. 37,312 41,966 Commission expenses............................................................................................................... (24,138) (24,126) Net commission income...................................................................................... 13,174 17,840 Dividend and similar income .................................................................................................... 904,355 972,115 Net profit (loss) on trading........................................................................................................ (83,343) 23,706 Net profit (loss) from hedging activity...................................................................................... (7,235) 1,514 Net profit (losses) from sale or the repurchase of:..................................................................... 15,770 24,120 (a) loans .................................................................................................................................. 1 - (b) available-for-sale financial assets...................................................................................... 15,395 23,990 (c) financial liabilities ............................................................................................................. 374 130 Net profit (loss) on financial assets/liabilities held at fair value................................................ (118,035) 1,549 Gross income................................................................................................... 473,897 856,659 Net impairment losses on:......................................................................................................... (500,477) (7,135) (a) loans .................................................................................................................................. (4,400) (1,208) (b) available-for-sale financial assets...................................................................................... (494,462) (43) (c) other financial transactions ............................................................................................... (1,616) (5,884) Net financial operating income............................................................................ (26,580) 849,524 Administrative expenses ........................................................................................................... (351,283) (476,334) (a) staff costs ........................................................................................................................... (174,152) (268,923) (b) other administrative expenses ............................................................................................ (177,131) (207,411) Net provisions for liabilities and charges .................................................................................. (1,733) (3,732) Net impairment losses on property, plant and equipment.......................................................... (39,440) (59,288) Net impairment losses on intangible assets ............................................................................... (22,056) (35,697) Other operating income (expense) ............................................................................................ 166,082 297,557 Operating costs ................................................................................................ (248,430) (277,492) Profits (losses) on equity investments....................................................................................... 17,601 (279) Profits (losses) on disposal investments.................................................................................... (59) 256 Profit (loss) on continuing operations before tax..................................................... (257,468) 572,010 Taxes on income for the period for continuing operations ........................................................ 281,354 255,850 After tax profit (loss) on continuing operations ...................................................... 23,886 827,859 Profit (loss) after tax from discontinued operations .................................................................. — (78) Profit (loss) for the period .................................................................................. 23,886 827,782 Lending (consolidated) Composition of loans to customers (thousands of Euro) 31.12.2008 % Current accounts ....................................................................................................................... 15,386,298 16.0 Reverse repurchase agreements ................................................................................................ 3,076 0.0 Mortgage loans and other medium to long-term financing........................................................ 46,346,858 48.1 Credit cards, personal loans and salary-backed loans................................................................ 5,736,726 5.9 Financial leasing ....................................................................................................................... 8,253,382 8.6 Factoring................................................................................................................................... 2,290,010 2.4 Debt securities .......................................................................................................................... 76,985 0.1 Other transactions ..................................................................................................................... 15,415,382 16.0 Assets transferred not derecognised.......................................................................................... 543,822 0.5 Impaired assets.......................................................................................................................... 2,315,913 2.4 Total .............................................................................................................. 96,368,452 100.0 Residential mortgages represent approximately 37.2 per cent. of the item "Mortgage loans and other medium to long-term financing". - 114 -
<strong>Prospectus</strong> Defaulted and problem loans The supervisory regulations of the Bank of Italy relating to problem loans identify the following categories: • restructured loans (crediti ristrutturati); • loans subject to country risk (crediti soggetti a rischio paese); • impaired loans (partite incagliate); • bad and doubtful loans (crediti in sofferenza); and • loans past due (esposizioni scadute e/o sconfinanti). Restructured loans These are loans for which a bank (or a pool of banks) agrees to amend the original contractual terms and conditions, due to deterioration in the debtor's financial and economic conditions, giving rise to a loss. Loans subject to country risk "Country risk" relates to problems of solvency in countries where there are difficulties surrounding the service of debt. There are seven categories of risk. Italian banks must monitor the percentage of devaluation (0–15–20–25– 30–40–60 per cent.) which has to be applied to loans in each of these categories which are not specifically guaranteed against political or economic risk. Italian banks must report monthly to the Bank of Italy on their positions for each country. Impaired loans Pursuant to guidelines established by the Bank of Italy, banks must classify a loan as an "impaired loan" if they determine that the borrower is experiencing financial or economic difficulties that are likely to be temporary. Bad loans Bad loans are loans in relation to which the relevant borrower is in a state of insolvency (whether or not insolvency proceedings have been commenced). A subjective test is used by the relevant lending bank to determine whether the borrower is in a state of insolvency. Loans past due Loans past due include loans in respect of which repayment is in arrears: • for more than 180 continuous days in the case of retail loans or public sector loans granted to subjects resident or having head office in Italy • for more than 180 continuous days, up to 31.12.2011, in the case of corporate loans granted to subjects resident or having head office in Italy • for more than 90 continuous days for other loans for an amount equal or higher than 5 per cent. of the total exposure The following table shows a breakdown of the Group's loans as at 31 December 2008. Loans to customers as at 31 December 2008 Figures in thousands of Euro Gross exposure % Total net impairment losses Net exposure % Deteriorated loans........................................................................ 3,607,588 3.68 (1,291,675) 2,315,913 2.40 Non-performing loans.................................................................... 1,868,615 1.90 (1,019,944) 848,671 0.88 Impaired loans ............................................................................... 1,382,852 1.41 (222,661) 1,160,191 1.20 Restructured loans.......................................................................... 142,114 0.15 (39,555) 102,559 0.11 Past due loans ................................................................................ 214,007 0.22 (9,515) 204,492 0.21 Performing loans.......................................................................... 94,486,871 96.32 (434,332) 94,052,539 97.60 - 115 -
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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
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Prospectus 1. GENERAL RULES OF THE
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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 and 112: Prospectus (thousands of Euro) UNIO
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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
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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 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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