Prospectus UBI Banca Covered Bond Programme

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Prospectus (In thousand Euro) 31.12.2008 31.12.2007 Fair value changes of hedged financial assets................................................................................... 44,548 384 Equity investments............................................................................................................................ 5,065 — Property, Plant and equipment .......................................................................................................... 33,505 18,260 Intangible assets................................................................................................................................ 42,145 42,145 of which goodwill: ............................................................................................................................ 42,145 42,145 Tax assets.......................................................................................................................................... 70,625 73,411 (a) current ....................................................................................................................................... 42,765 36,861 (b) deferred...................................................................................................................................... 27,859 36,550 Non-current assets and disposal groups held for sale ........................................................................ — 209,286 Other assets....................................................................................................................................... 309,826 403,420 Total assets............................................................................................................. 28,067,499 25,569,921 Liabilities and Shareholders' Equity Due to banks ..................................................................................................................................... 144,082 2,046,009 Due to customers .............................................................................................................................. 13,171,258 12,915,760 Securities issued................................................................................................................................ 11,882,910 7,751,746 Financial liabilities held for trading .................................................................................................. 83,650 92,722 Hedging derivatives .......................................................................................................................... 79,295 10,958 Tax liabilities:................................................................................................................................... 88,063 110,723 (a) current ....................................................................................................................................... 52,432 45,258 (b) deferred...................................................................................................................................... 35,631 65,465 Liabilities associated with disposal groups held for sale................................................................... — 146,606 Other liabilities ................................................................................................................................. 684,951 587,260 Staff severance provisions ................................................................................................................ 90,583 96,102 Provisions for liabilities and charges: ............................................................................................... 30,710 52,251 (a) other provisions ......................................................................................................................... 30,710 52,251 Valuation reserve .............................................................................................................................. (11,381) 39 Reserves............................................................................................................................................ 194,231 94,640 Share capital ..................................................................................................................................... 1,256,300 1,256,300 Profit for the year.............................................................................................................................. 372,848 408,804 Total liabilities and shareholders' equity...................................................................... 28,067,499 25,569,921 INCOME STATEMENT Figures in thousands of Euro 31.12.2008 31.12.2007 Interest and similar income.............................................................................................................. 1,514,606 1,275,758 Interest expense and similar............................................................................................................. (700,359) (534,476) Net interest income ................................................................................................. 814,247 741,282 Commission income ........................................................................................................................ 329,060 351,480 Commission expenses...................................................................................................................... (23,973) (21,894) Net commission income............................................................................................ 305,087 329,586 Net profit (loss) from trading........................................................................................................... 1,926 1,140 Net profit (loss) from hedging.......................................................................................................... (6,191) 1,682 Profit (losses) from disposal or repurchase of:................................................................................. (3,086) 14,200 (a) loans ......................................................................................................................................... (4,251) 390 (b) available-for-sale financial assets............................................................................................. — 12,176 (c) financial liabilities .................................................................................................................... 1,166 1,633 Gross income .................................................................................................................................. 1,111,983 1,087,890 Net impairment losses on................................................................................................................. (56,288) (49,187) (a) loans ......................................................................................................................................... (58,053) (47,369) (b) other financial transactions ...................................................................................................... 1,764 (1,818) Net financial operating income ..................................................................................................... 1,055,695 1,038,703 Administrative expenses .................................................................................................................. (543,595) (543,612) (a) staff costs .................................................................................................................................. (288,082) (287,720) (b) other administrative expenses ................................................................................................... (255,513) (255,892) Net provisions for liabilities and charges ......................................................................................... 3,874 (8,512) Net impairment losses on property, plant and equipment................................................................. (2,502) (980) Net impairment losses on intangible assets ...................................................................................... — (528) Other operating income (expense) ................................................................................................... 55,344 65,337 Operating costs ...................................................................................................... (486,879) (488,296) Profits (losses) on disposal of investments....................................................................................... (42) (25) Profit (loss) on continuing operations before tax........................................................... 568,774 550,381 Taxes on income for the year for continuing operations .................................................................. (196,012) (228,642) - 122 -
Prospectus Figures in thousands of Euro 31.12.2008 31.12.2007 After tax profit from continuing operations................................................................. 372,762 321,740 Profit after tax from discontinued operations................................................................................... 86 87,064 Profit for the year................................................................................................... 372,848 408,804 Banco di Brescia S.p.A. History and development Banco di Brescia S.p.A. ("Banco di Brescia") was incorporated under the laws of Italy on 31 December 1998 and, pursuant to Article 3 of its by-Laws, the duration of the company is up to 31 December 2103 and may be extended by Shareholders' Meetings resolutions. Its registered office is at Corso Martiri della Libertà 13, Brescia and its principal objects, as set out in Article 2 of its by-Laws, are deposit-taking and the carrying-out of all forms of lending activities. For such purposes, it may, subject to compliance with legislation in force and obtaining the required authorisations, perform any transactions or banking or financial services, together with any other activity incidental to or in any way connected with the achievement of its corporate objects, including the issue of bonds in accordance with laws and regulation. Areas of activity – general Banco di Brescia 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 the key geographical areas in which it operates (namely in Lombardy and Veneto in Northern Italy and Latium in Central Italy) and has a distinctive capability in understanding and serving the requirements of the local economy in those areas. 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, Banco di Brescia 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 The following table shows the lending of Banco di Brescia as at 31 December 2008 and 2007, broken down according to the type of loan. Types of loans Figures in thousands of Euro 31.12.2008 % 31.12.2007 % Current accounts ................................................................................................ 2,572,963 17.80 2,810,397 19.10 Mortgage loans and other medium to long-term financing................................. 7,788,532 53.87 7,265,718 49.37 Credit cards, personal loans and salary-backed loans......................................... 183,671 1.27 282,248 1.92 Other transactions .............................................................................................. 3,616,800 25.02 4,109,085 27.92 Debt securities ................................................................................................... 8,973 0.06 17,747 0.12 Impaired assets................................................................................................... 287,145 1.99 230,425 1.57 TOTAL ....................................................................................... 14,458,084 100.00 14,715,620 100.00 Residential mortgages represent 36.5 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 Banco di Brescia'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................................................................... 457,116 3.11 (169,970) 287,146 1.99 Non-performing loans............................................................... 226,531 1.54 (118,220) 108,311 0.75 Impaired loans .......................................................................... 112,204 0.76 (23,586) 88,618 0.61 Restructured loans..................................................................... 88,269 0.60 (26,474) 61,795 0.43 - 123 -
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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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Prospectus where applicable, modifi
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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 and 118: Prospectus Introduction THE GUARANT
Page 119 and 120: Prospectus Banca Popolare di Bergam
Page 121: Prospectus ( * ) Member of Executiv
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
Page 163 and 164: Prospectus Master Servicer shall al
Page 165 and 166: Prospectus receive instructions fro
Page 167 and 168: Prospectus notice substantially in
Page 169 and 170: Prospectus price reasonably availab
Page 171 and 172: 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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