Prospectus UBI Banca Covered Bond Programme

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Prospectus Share capital and shareholders As at 31 December 2008, Banca Regionale Europea had an issued and fully paid-up share capital of Euro442,000,000 consisting of 735,098,007 ordinary shares, 68,591,443 privileged shares and 46,310,550 saving shares with a nominal value of Euro0.52 each. Banca Regionale Europea's shares are unlisted and are 59,9524 per cent. owned by UBI Banca, 19.983 per cent. owned by Fondazione Cassa di Risparmio di Cuneo, 19.983 per cent. by Fondazione Banca del Monte di Lombardia. Employees As at 31 December 2008, Banca Regionale Europea had 2,028 employees, compared to 2,110 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 Regionale Europea. Such information is derived from the separate financial statements of Banca Regionale Europea as at and for the years ended 31 December 2008 and 2007, which are publicity available (in Italian only) on the website of Banca Regionale Europea (www.brebanca.it). The financial statements of Banca Regionale Europea are prepared in accordance with IFRS. BALANCE SHEET (In thousands of Euro) 31.12.2008 31.12.2007 Assets Cash and cash equivalents............................................................................................................ 59,264 49,614 Financial assets held for trading................................................................................................... 58,041 74,206 Available-for-sale financial assets ............................................................................................... 20,165 17,679 Loans to banks ............................................................................................................................. 2,050,737 1,471,697 Loans to customers ...................................................................................................................... 7,639,924 7,837,596 Hedging derivatives ..................................................................................................................... 55,516 37,162 Chance in fair value of hedged financial assets............................................................................ 12,387 — Equity investment ........................................................................................................................ 96,435 94,869 Property, plant and equipment ..................................................................................................... 245,824 240,062 Intangible assets........................................................................................................................... 81,189 81,196 of which goodwill:........................................................................................................................ 81,050 81,050 Tax assets..................................................................................................................................... 65,236 72,782 (a) current .................................................................................................................................. 23,652 45,894 (b) deferred................................................................................................................................. 41,584 26,888 Non-current assets and disposal groups held for sale ................................................................... 14 14 Other assets.................................................................................................................................. 116,596 184,814 Total assets ................................................................................................................................. 10,501,328 10,161,691 Liabilities and Shareholders' Equity Due to banks ................................................................................................................................ 672,637 1,337,302 Due to customers ......................................................................................................................... 5,606,580 5,178,489 Securities issued........................................................................................................................... 2,622,204 1,968,168 Financial liabilities held for trading ............................................................................................. 42,446 43,065 Hedging derivatives ..................................................................................................................... 26,487 15,777 Tax liabilities:.............................................................................................................................. 49,199 50,243 (a) current .................................................................................................................................. 38,907 26,225 (b) deferred................................................................................................................................. 10,292 24,018 Other liabilities ............................................................................................................................ 353,799 416,892 Staff severance provisions ........................................................................................................... 48,287 51,848 Provisions for liabilities and charges: .......................................................................................... 41,289 49,074 (a) severance and similar liabilities ........................................................................................... 24,297 24,891 (b) other provisions .................................................................................................................... 16,992 24,183 Valuation reserve ......................................................................................................................... 122,932 123,064 Reserves....................................................................................................................................... 361,978 392,325 Share capital ................................................................................................................................ 442,000 442,000 Profit for the year......................................................................................................................... 111,490 93,444 Total liabilities and shareholders' equity ................................................................................. 10,501,328 10,161,691 - 134 -
Prospectus INCOME STATEMENT (In thousands of Euro) 31.12.2008 31.12.2007 Interest and similar income.......................................................................................................... 574,188 500,810 Interest expense and similar......................................................................................................... (261,697) (201,944) Net interest income .................................................................................................................... 312,491 298,866 Commission income .................................................................................................................... 134,224 154,083 Commission expenses.................................................................................................................. (9,207) (11,239) Net commission income ............................................................................................................. 125,017 142,844 Dividends and similar income...................................................................................................... 6,730 8,268 Net profit (loss) from trading....................................................................................................... 2,828 (3,101) Net profit (loss) from hedging...................................................................................................... (5,408) (461) Profit (losses) from disposal or repurchase of:............................................................................. (2,231) 1,286 (a) loans ..................................................................................................................................... (2,836) — (b) Available-for-sale financial assets ........................................................................................ — 123 (c) financial liabilities ................................................................................................................ 605 1,163 Gross income .............................................................................................................................. 439,427 447,702 Net impairment losses on:............................................................................................................ (30,575) (19,779) (a) loans ..................................................................................................................................... (28,119) (19,524) (b) Available-for-sale financial assets ........................................................................................ (178) (39) (c) other financial transactions .................................................................................................. (2,278) (216) Net financial operating income ................................................................................................. 408,852 427,923 Administrative expenses .............................................................................................................. (271,218) (272,110) (a) staff costs .............................................................................................................................. (148,543) (152,456) (b) other administrative expenses ............................................................................................... (122,675) (119,654) Net provisions for liabilities and charges ..................................................................................... (3,106) (10,094) Net impairment losses on property, plan and equipment.............................................................. (8,154) (7,394) Net impairment losses on intangible assets .................................................................................. (64) (114) Other operating income (expense) ............................................................................................... 27,628 24,237 Operating costs........................................................................................................................... (254,914) (265,475) Profit (loss) on disposal of equity investments............................................................................. — 405 Profit (loss) on disposal of investments ....................................................................................... 309 172 Profit (loss) from continuing operations before tax................................................................. 154,248 163,026 Tax on income for the year for continuing operations.................................................................. (42,758) (69,581) After tax profit from continuing operations ............................................................................ 111,490 93,444 Profit for the year ...................................................................................................................... 111,490 93,444 Banca Popolare di Ancona S.p.A. Banca Popolare di Ancona S.p.A. ("Banca Popolare di Ancona") was incorporated on 18 October 1891 in Jesi as a co-operative bank. In 1995 it became Joint-Stock company and entered the former Banca Popolare di Bergamo-Credito Varesino Group. In July 2003 it became one of the network banks of the former BPU Group, and in April 2007 it joined the UBI Banca Group. Pursuant to Article 2 of its by-Laws, the duration of the company is up to 31 December 2050. Its registered office is at via Don A. Battistoni, 4, Jesi (AN), and its principal objects, as set out in Article 3 of its by-Laws, are deposit-taking and the carrying-out of all forms of lending activities. The company 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. Provided the relevant authorisations are obtained, the company may proceed to the purchase, incorporation, or concentration with other banks or companies; it may also purchase and manage equity stakes, including controlling stakes, in companies carrying-out banking, insurance and financial or other activities allowed, within the limits and with the modalities set out in law dispositions. Areas of activity – general Banca Popolare di Ancona 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 Marches region, the key geographical area 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 - 135 -
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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
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Prospectus 30.7 Certificates of Par
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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 and 130: Prospectus of the bank. In accordan
Page 133: Prospectus Management Banca Regiona
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
Page 181 and 182: Prospectus Pre-Issuer Event of Defa
Page 183 and 184: 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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