Prospectus UBI Banca Covered Bond Programme

Prospectus
(In thousands of Euro) 31.12.2008 31.12.2007
Gross income....................................................................................................... 715,819 707,669
Net impairment losses on.............................................................................................................. (74,651) (45,303)
(a) loans ...................................................................................................................................... (70,490) (25,952)
(b) Available-for-sale financial assets ......................................................................................... (6,432) (19,290)
(c) other financial transactions ................................................................................................... 2,270 (61)
Net financial operating income .................................................................................................. 641,168 662,367
Administrative expenses ............................................................................................................... (359,729) (376,223)
(a) staff costs ............................................................................................................................... (182,954) (198,380)
(b) other administrative expenses ................................................................................................ (176,774) (177,842)
Net provisions for liabilities and charges ...................................................................................... (2,028) (4,322)
Net impairment losses on property, plant and equipment.............................................................. (10,596) (9,864)
Net impairment losses on intangible assets ................................................................................... (18) (18)
Other operating income (expense) ................................................................................................ 45,649 52,996
Operating costs............................................................................................................................ (326,721) (337,431)
Profits (losses) on disposal of investments.................................................................................... 1,044 883
Profit (loss) on continuing operations before tax...................................................................... 315,490 325,819
Taxes on income for the year for continuing operations ............................................................... (98,837) (136,924)
After tax profit from continuing operations ............................................................................. 216,653 188,895
Profit after tax from discontinued operations................................................................................ — 130,148
Profit for the year ....................................................................................................................... 216,653 319,043
Banca Popolare Commercio e Industria S.p.A.
Banca Popolare Commercio e Industria S.p.A. ("BPCI") was incorporated under the laws of Italy on 27 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 Commercio e Industria Scrl (established in
1888) and Banca Popolare di Luino e di Varese S.p.A. (established in 1885) to the new Bank and the
authorization 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 in Milan, via della
Moscova 33, 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 Commercio e Industria 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 by its parent company directly or indirectly through its subsidiaries, 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 Commercio e Industria 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 thousands Euro) 31.12.2008 % 31.12.2007 %
Current accounts ........................................................................................... 2,256,888 24.36 2,433,649 25.49
Mortgage loans and other medium to long-term financing............................ 4,108,561 44.35 3,759,262 39.37
Credit cards, personal loans and salary-backed loans.................................... 25,009 0.27 41,966 0.44
Other transactions ......................................................................................... 2,545,602 27.48 3,067,141 32.12
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