Prospectus UBI Banca Covered Bond Programme

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Prospectus General Management Name Eraldo Menconi ........................................................................................................................................... Pietro Tosana ............................................................................................................................................... Position General Manager Deputy General Manager Auditors The current independent auditors of Banca di Valle Camonica are KPMG S.p.A., who have been appointed to audit the bank's financial statements for a period ending 31 December 2015. Subsidiaries and associated companies Banca di Valle Camonica has a 2 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 di Valle Camonica had an issued and fully paid-up share capital of Euro2,738,693.00 consisting of 2,738,693 ordinary shares with a nominal value of Euro1.00 each. Banca di Valle Camonica's shares are unlisted and are 82.96 per cent. owned by UBI Banca. Employees As at 31 December 2008, Banca di Valle Camonica had 341 employees, compared to 357 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 di Valle Camonica. Such information is derived from the separate financial statements of Banca di Valle Camonica as at and for the years ended 31 December 2008 and 2007, which are publicly available (in Italian only) on the website of Banca di Valle Camonica (www.bancavalle.it). The financial statements of Banca di Valle Camonica are prepared in accordance with IFRS. BALANCE SHEET (In thousands of Euro) 31.12.2008 31.12.2007 Assets Cash and cash equivalents....................................................................................................................... 17,527 13,992 Financial assets held for trading.............................................................................................................. 5,354 6,467 Available-for-sale financial assets .......................................................................................................... 2,576 — Loans to Banks ....................................................................................................................................... 561,242 282,361 Loans to customers ................................................................................................................................. 1,796,587 1,652,377 Hedging derivatives ................................................................................................................................ 11,098 7,876 Fair value change of hedged financial assets (+/-) .................................................................................. 2,085 — Equity investments.................................................................................................................................. 783 — Property, plant and equipment ................................................................................................................ 26,152 21,820 Intangible assets...................................................................................................................................... 6,899 6,899 of which goodwill: .................................................................................................................................. 6,899 6,899 Tax assets................................................................................................................................................ 5,586 6,691 (a) current ............................................................................................................................................. 2,934 2,699 (b) deferred............................................................................................................................................ 2,652 3,992 Other assets............................................................................................................................................. 21,446 21,219 Total assets ............................................................................................................................................ 2,457,334 2,019,702 Liabilities and Shareholders' equity Due to banks ........................................................................................................................................... 164,406 352,224 Due to customers .................................................................................................................................... 1,205,266 1,009,957 Securities in issue.................................................................................................................................... 866,850 442,849 Financial liabilities held for trading ........................................................................................................ 6,081 3,938 Hedging derivatives ................................................................................................................................ 3,900 4,621 Tax liabilities:......................................................................................................................................... 7,379 12,411 (a) current ............................................................................................................................................. 6,005 4,257 (b) deferred............................................................................................................................................ 1,374 8,154 Other liabilities ....................................................................................................................................... 64,888 62,185 - 146 -
Prospectus (In thousands of Euro) 31.12.2008 31.12.2007 Staff severance provisions ...................................................................................................................... 7,456 7,710 Provisions for liabilities and charges: ..................................................................................................... 3,046 2,011 (a) other provisions ............................................................................................................................... 3,046 2,011 Valuation reserve .................................................................................................................................... 12,138 12,457 Reserves.................................................................................................................................................. 60,629 55,334 Share issue premiums ............................................................................................................................. 27,895 27,895 Capital .................................................................................................................................................... 2,739 2,739 Profit for the year.................................................................................................................................... 24,660 23,373 Total liabilities and shareholders' equity ............................................................................................ 2,457,334 2,019,702 INCOME STATEMENT (In thousands of Euro) 31.12.2008 31.12.2007 Interest and similar income..................................................................................................................... 142,718 105,363 Interest expense and similar.................................................................................................................... (75,246) (44,472) Net interest income ............................................................................................................................... 67,472 60,892 Commission income ............................................................................................................................... 19,500 21,228 Commission expenses............................................................................................................................. (1,463) (1,888) Net commission income ........................................................................................................................ 18,036 19,340 Net profit (loss) from trading activities................................................................................................... (801) 440 Net profit (loss) from hedging activities ................................................................................................. (1,390) (249) Profit (losses) from disposal or repurchase of:........................................................................................ 115 275 (a) financial liabilities ........................................................................................................................... 115 275 Gross income ......................................................................................................................................... 83,432 80,698 Net impairment losses on:....................................................................................................................... (4,719) (196) (a) loans ................................................................................................................................................ (5,209) 175 (b) other financial transactions ............................................................................................................. 490 (371) Net financial operating income ............................................................................................................ 78,714 80,503 Administrative expenses ......................................................................................................................... (47,208) (46,951) (a) staff costs ......................................................................................................................................... (23,635) (23,744) (b) other administrative expenses .......................................................................................................... (23,573) (23,207) Net provisions for liabilities and charges ................................................................................................ (1,038) (220) Net impairment losses on property, plan and equipment......................................................................... (1,741) (1,340) Other operating income (expense) .......................................................................................................... 5,792 5,683 Operating costs...................................................................................................................................... (44,195) (42,829) Profit (loss) from continuing operations before tax............................................................................ 34,519 37,674 Taxes on income for the year for continuing operations ......................................................................... (9,858) (14,301) Profit (loss) from continuing operations after tax .............................................................................. 24,660 23,373 Profit (loss) for the period .................................................................................................................... 24,660 23,373 Banco di San Giorgio S.p.A. Banco di San Giorgio S.p.A. ("Banco di San Giorgio") was created in 1987 as a co-operative bank. In 1992 it became a Joint-Stock company and it was acquired by Credito Agrario Bresciano, which in 1998 changed its name into Banca Lombarda following its merger with Banca San Paolo di Brescia. In April 2007, Banco di San Giorgio became one of the network banks of the UBI Group. Pursuant to Article 2 of its by-Laws, the duration of the company is up to 31 December 2050 but it may be extended. Its registered office is in Genova, Via Ceccardi 1, 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, it may, subject to compliance with legislation in force and obtaining the required authorisations, perform both in Italy and abroad 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 purchase of equity investments. Areas of activity – general Banco di San Giorgio 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 is mainly present in Liguria and has a distinctive capability in understanding and serving the requirements of the local economy in - 147 -
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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
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Prospectus (xv) Fall back provision
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Prospectus (i) Optional Redemption
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Prospectus These Final Terms compri
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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 and 138: Prospectus Detail of amounts due to
Page 141 and 142: Prospectus Funding Banca Carime's p
Page 145: 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
Page 189 and 190: Prospectus The issuing bank The Ban
Page 191 and 192: Prospectus and the Covered Bond Gua
Page 193 and 194: Prospectus Finally the Prepayment P
Page 195 and 196: 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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