Prospectus UBI Banca Covered Bond Programme

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Prospectus Auditors The current independent auditors of Banca Popolare di Ancona S.p.A. are KPMG S.p.A., who have been appointed to audit the bank's financial statements for a period ending 31 December 2010. Subsidiaries and associated companies Banca Popolare di Ancona has a 4 per cent. stake in UBI Sistemi e Servizi S.c.p.A. and no other significant shareholdings in other companies. Share capital and shareholders As at 31 December 2008, Banca Popolare di Ancona had an issued and fully paid-up share capital of Euro122,343,580.00 consisting of 24,468,716 ordinary shares with a nominal value of Euro5.00 each. Banca Popolare di Ancona's shares are unlisted and are 99.22 per cent. owned by UBI Banca and for the remaining part by minority shareholders. Employees As at 31 December 2008, Banca Popolare di Ancona had 1,845 employees, compared to 1,876 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 di Ancona. Such information is derived from the separate financial statements of Banca Popolare di Ancona as at and for the years ended 31 December 2008 and 2007, which are publicly available (in Italian only) on the website of Banca Popolare di Ancona (www.bpa.it). The financial statements of Banca Popolare di Ancona are prepared in accordance with IFRS. BALANCE SHEET (In thousands of Euro) 31.12.2008 31.12.2007 Assets Cash and cash equivalents............................................................................................................... 80,585 86,451 Financial assets held for trading...................................................................................................... 26,186 19,665 Available-for-sale financial assets .................................................................................................. 24,619 9,097 Loans to banks ................................................................................................................................ 1,556,711 624,244 Loans to customers ......................................................................................................................... 7,744,033 7,523,958 Hedging derivatives ........................................................................................................................ 149,360 2,985 Fair value change of hedged financial assets (+/-) .......................................................................... 34,814 (2,051) Equity Investments ......................................................................................................................... 92,815 75,940 Property, plant and equipment ........................................................................................................ 135,464 134,946 Intangible assets.............................................................................................................................. 31,727 31,727 of which goodwill:........................................................................................................................... 31,727 31,727 Tax assets........................................................................................................................................ 135,338 64,833 (a) current ..................................................................................................................................... 70,683 17,782 (b) deferred.................................................................................................................................... 64,655 47,051 Non-current assets and disposal groups held for sale ...................................................................... — 3,537 Other assets..................................................................................................................................... 116,869 167,151 Total assets .................................................................................................................................... 10,128,521 8,742,484 Liabilities and Shareholders' Equity Due to banks ................................................................................................................................... 210,965 373,177 Due to customers ............................................................................................................................ 4,240,925 4,434,483 Securities issued.............................................................................................................................. 4,286,704 2,765,672 Financial liabilities held for trading ................................................................................................ 24,978 37,291 Hedging derivatives ........................................................................................................................ 51,315 1,001 Tax liabilities:................................................................................................................................. 62,917 21,921 (a) current ..................................................................................................................................... 59,493 15,265 (b) deferred.................................................................................................................................... 3,424 6,656 Other liabilities ............................................................................................................................... 295,058 231,400 Staff severance provisions .............................................................................................................. 36,616 39,162 Provisions for liabilities and charges: ............................................................................................. 19,121 20,635 (a) other provisions ....................................................................................................................... 19,121 20,635 Valuation reserve ............................................................................................................................ 21,218 26,498 Reserves.......................................................................................................................................... 135,410 131,828 - 138 -
Prospectus (In thousands of Euro) 31.12.2008 31.12.2007 Share issue premium....................................................................................................................... 483,554 483,554 Share capital ................................................................................................................................... 122,344 122,344 Profit for the year............................................................................................................................ 137,395 53,519 Total liabilities and shareholders' equity .................................................................................... 10,128,521 8,742,484 INCOME STATEMENT (In thousands of Euro) 31.12.2008 31.12.2007 Interest and similar income............................................................................................................. 583,374 474,597 Interest expense and similar............................................................................................................ (251,217) (166,301) Net interest income ....................................................................................................................... 332,157 308,297 Commission income ....................................................................................................................... 111,402 120,892 Commission expenses..................................................................................................................... (8,090) (9,916) Net commission income ................................................................................................................ 103,312 110,976 Dividends and similar income......................................................................................................... 10,982 18,131 Net profit (loss) from trading.......................................................................................................... 2,823 (1,589) Net profit (loss) from hedging......................................................................................................... 1,044 47 Profit (losses) from disposal or repurchase of:................................................................................ 561 (211) (a) loans ........................................................................................................................................ (604) (1,733) (b) Available-for-sale financial assets ........................................................................................... 170 (2) (c) financial liabilities ................................................................................................................... 995 1,524 Gross income ................................................................................................................................. 450,879 435,651 Net impairment losses on:............................................................................................................... (93,179) (66,718) (a) loans ........................................................................................................................................ (94,104) (64,920) (b) Available-for-sale financial assets ........................................................................................... — (59) (c) other financial transactions ..................................................................................................... 925 (1,738) Net financial operating income ....................................................................................................... 357,700 368,933 Administrative expenses ................................................................................................................. (261,121) (262,798) (a) staff costs ................................................................................................................................. (140,787) (151,290) (b) other administrative expenses .................................................................................................. (120,334) (111,508) Net provisions for liabilities and charges ........................................................................................ (2,907) (3,826) Net impairment losses on property, plan and equipment................................................................. (10,768) (13,070) Other operating income (expense) .................................................................................................. 22,676 19,860 Operating costs.............................................................................................................................. (252,120) (259,834) Profit (loss) of equity investments .................................................................................................. 73,577 — Profit (loss) on disposal of investments .......................................................................................... (22) 742 Profit (loss) from continuing operations before tax.................................................................... 179,135 109,840 Tax on income for the year for continuing operations..................................................................... (41,741) (56,321) After tax profit from continuing operations ............................................................................... 137,395 53,519 Profit for the year ......................................................................................................................... 137,395 53,519 Banca Carime S.p.A. History and development Banca Carime S.p.A. ("Banca Carime") was incorporated under the laws of Italy on 30 January 2001 following the merger between a financial company belonging to the former Banca Popolare Commercio e Industria Group and Carime, a banking company incorporated on 31 December 1997 within the Intesa Group, to which the lines of business of three Southern Saving Banks (Carical S.p.A., Caripuglia S.p.A. and Cassa di Risparmio Salernitana S.p.A.) had been transferred. In June 2000 Banca Intesa and Banca Popolare Commercio e Industria reached an agreement for the sale to the latter of the controlling stake in Banca Carime. On 1 July 2003, Banca Carime became part of the BPU Group, created from the merger between Banca Popolare di Bergamo-Credito Varesino Scrl, Banca Popolare Commercio e Industria Scrl and Banca Popolare di Luino e di Varese S.p.A. Banca Carime then became part of the UBI Banca Group following the merger between BPU Banca and Banca Lombarda effective from the 1 April 2007. Pursuant to Article 3 of its by-Laws, the duration of the company is up to 31 December 2050. Its registered office is at Viale Crati in Cosenza 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. For such purposes, the Company may carry - 139 -
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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
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Prospectus FORM OF FINAL TERMS Set
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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 and 134: Prospectus Management Banca Regiona
Page 135 and 136: Prospectus INCOME STATEMENT (In tho
Page 137: 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
Page 185 and 186: Prospectus • the payment of which
Page 187 and 188: 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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