Prospectus UBI Banca Covered Bond Programme

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Prospectus Board of Statutory Auditors No Board of Statutory Auditors has currently been appointed. Auditors The current independent auditors of UBI Finance Srl are KPMG S.p.A. Conflict of Interest There are no potential conflicts of interest between the duties of the directors and their private interests or other duties. Financial Statements The following tables set out non-consolidated balance sheet and income statement information relating to UBI Finance. The financial year of the Guarantor ends on 31 December of each calendar year. Such information is derived from the non-consolidated financial statements of UBI Finance as at and for the years ended 31 December 2008. The financial statements of are prepared in accordance with IFRS. Figures in Euros 31/12/2008 Total assets ........................................................................................................................................................ 37,258 Net profit for the year ........................................................................................................................................ 2 - 118 -
Prospectus Banca Popolare di Bergamo S.p.A. THE SELLERS History and development Banca Popolare di Bergamo S.p.A. ("Banca Popolare di Bergamo") was incorporated under the laws of Italy on 25 March 2003, and started its banking activities on 1 July 2003, as Network Bank of the former BPU Group. The contribution in kind of the branch business of former Banca Popolare di Bergamo CV Scrl (established in 1869) to the new Bank and the authorisation released by the Governor of Bank of Italy to perform banking activities became effective on the same date. Pursuant to Article 3 of its by-Laws, the duration of the company is up to 31 December 2050 but it may be extended by the Extraordinary General Meeting of Shareholders. Its registered office is at Piazza Vittorio Veneto 8, Bergamo, and its principal objects, as set out in Article 4 of its by-Laws, are deposit-taking and the carrying-out of all forms of lending activities. The Company may carry out, in addition to banking activities, all other financial activities in compliance with the discipline set out for each of them, including the purchase and management of equity investments and the establishment and management of supplementary pension programmes, either open or closed. Areas of activity – general Banca Popolare di Bergamo is one of the nine network banks of the UBI Group and carries on its business by maintaining a close relationship with its customers in the territory where it operates. The bank has a strong presence in Lombardy, the key geographical areas in which it operates, and has a distinctive capability in understanding and serving the requirements of the local economy in that area. It carries on its business with the support and services provided directly or indirectly through its subsidiaries by its parent company, UBI Banca, and offers and sells products and services developed at parent bank level. It has a sales model divided up according to market segment: Retail (predominant activity of the Bank), Corporate and Private. Because of the wide range of product companies within the UBI Group, Banca Popolare di Bergamo is able to offer services and products which are both customised and evolved over time, and which are aimed at satisfying the needs of different kinds of customers. Lending Composition of loans to customers (in thousand Euro) 31.12.2008 % 31.12.2007 % Current accounts ........................................................................................ 5,593,159 28.36 6,485,435 30.32 Mortgage loans and other medium to long-term financing......................... 10,640,110 53.96 10,389,110 48.57 Credit cards, personal loans and salary-backed loans................................. 106,252 0.54 177,835 0.83 Other transactions ...................................................................................... 3,019,577 15.31 4,062,121 18.99 Impaired assets........................................................................................... 359,973 1.83 276,047 1.29 TOTAL ................................................................................. 19,719,071 100.00 21,390,548 100.00 Residential mortgages represent approx. 43.9 per cent. of the item "Mortgage loans and other medium to long-term financing". Defaulted and problem loans The following table shows a breakdown of the Bank's loans as at 31 December 2008 and 2007. Loans to customers as at 31 December 2008 Figures in thousands of Euro Gross exposure % Total net impairment losses Net exposure % Deteriorated loans............................................................................. 530,093 2.66 (170,120) 359,973 1.83 Non-performing loans......................................................................... 289,293 1.45 (138,915) 150,378 0.76 Impaired loans .................................................................................... 182,222 0.91 (25,121) 157,101 0.80 Restructured loans............................................................................... 20,629 0.10 (4,068) 16,561 0.08 Past due loans ..................................................................................... 37,949 0.19 (2,016) 35,933 0.18 Performing loans............................................................................... 19,418,316 97.34 (59,218) 19,359,098 98.17 of which: Unguaranteed loans to countries at risk........................ 3,536 0.02 4 3,532 0.02 TOTAL ............................................................................ 19,948,409 100.00 (229,338) 19,719,071 100.0 - 119 -
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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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Prospectus "Voter" means, in relati
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Prospectus 5. VALIDITY OF BLOCK VOT
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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 and 112: Prospectus (thousands of Euro) UNIO
Page 113 and 114: Prospectus (thousands of Euro) UNIO
Page 115 and 116: Prospectus Defaulted and problem lo
Page 117: Prospectus Introduction THE GUARANT
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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Page 165 and 166: Prospectus receive instructions fro
Page 167 and 168: 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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