Prospectus UBI Banca Covered Bond Programme

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Prospectus Banca Popolare Commercio e Industria's shares are unlisted and are 83.3610 per cent. owned by UBI Banca and 16.6390 per cent. owned by Aviva S.p.A. Employees As at 31 December 2008, Banca Popolare Commercio e Industria had 2,029 employees, compared to 2,034 employees as at the previous year end. Financial information The following tables set out non-consolidated balance sheet and income statement information relating to Banca Popolare Commercio e Industria. Such information is derived from the separate financial statements of Banca Popolare Commercio e Industria as at and for the years ended 31 December 2008 and 2007, which are publicly available (in Italian only) on the website of the bank (www.bpci.it). The financial statements of Banca Popolare Commercio e Industria are prepared in accordance with IFRS. BALANCE SHEET (In thousands of Euro) 31.12.2008 31.12.2007 Assets Cash and cash equivalents............................................................................................................. 54,652 71,360 Financial assets held for trading.................................................................................................... 38,291 21,520 Available-for-sale financial assets ................................................................................................ 10,089 171 Loans to banks .............................................................................................................................. 2,318,781 1,513,626 Loans to customers ....................................................................................................................... 9,262,916 9,548,761 Hedging derivatives ...................................................................................................................... 30,923 6,362 Chance in fair value of hedged financial assets............................................................................. 50,165 (480) Equity investments........................................................................................................................ 1,565 — Property, plant and equipment ...................................................................................................... 77,873 71,591 Intangible assets............................................................................................................................ 22,261 22,261 of which goodwill:......................................................................................................................... 22,261 22,261 Tax assets...................................................................................................................................... 168,589 77,763 (a) current ................................................................................................................................... 96,648 18,190 (b) deferred.................................................................................................................................. 71,941 59,572 Non-current assets and disposal groups held for sale Other assets................................................................................................................................... 115,804 210,006 Total assets .................................................................................................................................. 12,151,910 11,542,941 Liabilities and Shareholders' Equity Due to banks ................................................................................................................................. 1,384,385 2,091,529 Due to customers .......................................................................................................................... 6,747,028 6,063,288 Securities issued............................................................................................................................ 2,604,504 1,946,172 Financial liabilities held for trading .............................................................................................. 40,038 19,968 Hedging derivatives ...................................................................................................................... 46,223 12,610 Tax liabilities:............................................................................................................................... 108,929 67,035 (a) current ................................................................................................................................... 77,027 19,680 (b) deferred.................................................................................................................................. 31,902 47,354 Other liabilities ............................................................................................................................. 273,893 386,327 Staff severance provisions ............................................................................................................ 31,712 33,860 Provisions for liabilities and charges: ........................................................................................... 29,592 27,654 (a) other provisions ..................................................................................................................... 29,592 27,654 Valuation reserve .......................................................................................................................... 1,007 1,716 Reserves........................................................................................................................................ 143,970 26,419 Share capital ................................................................................................................................. 682,500 682,500 Profit for the year.......................................................................................................................... 58,129 183,862 Total liabilities and shareholders' equity .................................................................................. 12,151,910 11,542,941 INCOME STATEMENT (In thousands of Euro) 31.12.2008 31.12.2007 Interest and similar income............................................................................................................. 695,998 586,996 Interest expense and similar............................................................................................................ (336,367) (240,583) Net interest income ....................................................................................................................... 359,631 346,412 Commission income 167,405 196,410 Commission expenses..................................................................................................................... (14,046) (13,664) - 130 -
Prospectus (In thousands of Euro) 31.12.2008 31.12.2007 Net commission income ................................................................................................................ 153,359 182,746 Dividend and similar income .......................................................................................................... 5 2 Net profit (loss) from trading.......................................................................................................... 2,051 1,959 Net profit (loss) from hedging......................................................................................................... 5,170 77 Profit (losses) from disposal or repurchase of:................................................................................ 1,594 (3,750) (a) loans ........................................................................................................................................ 16 (3,752) (b) financial liabilities ................................................................................................................... 1,578 1 Gross income ................................................................................................................................. 521,809 527,445 Net impairment losses on................................................................................................................ (95,174) (86,874) (a) loans ........................................................................................................................................ (97,451) (85,482) (b) other financial transactions ..................................................................................................... 2,277 (1,393) Net financial operating income .................................................................................................... 426,635 440,571 Administrative expenses ................................................................................................................. (299,610) (310,893) (a) staff costs ................................................................................................................................. (155,711) (159,681) (b) other administrative expenses .................................................................................................. (143,898) (151,211) Net provisions for liabilities and charges ........................................................................................ (13,678) (4,492) Net impairment losses on property, plant and equipment................................................................ (2,125) (1,609) Other operating income (expense) .................................................................................................. 18,264 20,404 Operating costs.............................................................................................................................. (297,148) (296,589) Profits (losses) on disposal of investments...................................................................................... (27) (31) Profit (loss) on continuing operations before tax........................................................................ 129,459 143,950 Taxes on income for the year for continuing operations ................................................................. (55,581) (74,854) After tax profit from continuing operations ............................................................................... 73,878 69,097 Profit after tax from discontinued operations.................................................................................. (15,749) 114,766 Profit for the year ......................................................................................................................... 58,129 183,862 Banca Regionale Europea S.p.A. Banca Regionale Europea S.p.A. ("Banca Regionale Europea") was created in 1994 following the merger between Cassa di Risparmio di Cuneo and Banca del Monte di Lombardia. In 2000, it became one of the network banks of the former Group Banca Lombarda and the Group took the name of Banca Lombarda e Piemontese. In April 2007, it became one of the network banks of the UBI Banca Group. Pursuant to Article 3 of its by-Laws, the duration of the company is up to 31 December 2100. Its registered office is in Cuneo, via Roma 13, while the General Management and the Administrative Offices are located in Milan, Via Monte di Pietà 7. Its principal objects, as set out in Article 4 of its by-Laws, are banking activities; in addition, the Company may carry out all other financial activities in compliance with the discipline set out for each of them, and the establishment and management of supplementary pension programmes. Areas of activity – general Banca Regionale Europea 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 Piedmont, the key geographical areas in which it operates, although it also has a significant presence in Lombardy, mainly in the provinces of Pavia and Milan. It has a distinctive capability in understanding and serving the requirements of the local economy in the reference 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, Banca Regionale Europea 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 ............................................................................................... 1,700,373 22,26 1,643,839 20,97 - 131 -
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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
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Prospectus Removal and Remuneration
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Prospectus TITLE III THE REPRESENTA
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Prospectus 28.6 Discretions Save as
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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 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: 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
Page 173 and 174: Prospectus in the name and on behal
Page 175 and 176: Prospectus CREDIT STRUCTURE The Cov
Page 177 and 178: Prospectus "Z" stands for the weigh
Page 179 and 180: 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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