Prospectus UBI Banca Covered Bond Programme

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Prospectus Auditors The current independent auditors of Banco di San Giorgio are Reconta Ernst & Young S.p.A., who have been appointed to audit the bank's financial statements for a period ending 31 December 2012. Subsidiaries and associated companies Banco di San Giorgio 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 On 11 February 2009 the Board of Directors of Banco di San Giorgio approved a capitalisation operation for a total of 75 million Euro in relation to the purchase of operations from Intesa Sanpaolo, consisting of 13 branches located in the province of La Spezia. The operation, consisting of two increases in the share capital by payment in tranches with limited option rights within the meaning of paragraph 5 of Art. 2441 of the Italian Civil Code, was performed with an issue price for the new shares of 5.38 Euro of which 1.50 Euro nominal and 3.88 Euro as the issue premium. The first increase in the share capital, totalling 68,385,750.28 Euro, was reserved to the UBI Banca and to Banca Regionale Europea and took place on 13th March 2009 before the operations were acquired (16 March 2009). The second increase in the share capital, for a maximum of 6,627,885.62 Euro will be a rights issued for all the other registered shareholders, except for those registered shareholders to whom the first increase was destined, to be performed by 30 September 2009. In order to guarantee the successful outcome of the operation the shareholders, UBI Banca and BRE, have agreed to subscribe the residual new shares of the second increase not taken up by those with option rights on them. As a result of the operations just mentioned and of further purchases from minority shareholders performed by the Parent Bank, Banco di San Giorgio was 93.1235 per cent. controlled as at 31 March 2009 (35.5806 per cent. by UBI Banca and 57.5429 per cent. by BRE), while the share capital rose to 85,993,326 Euro. As at 31 December 2008 the bank had share capital of 66,926,667 Euro and was 91.1557 per cent. controlled. Employees As at 31 December 2008, Banco di San Giorgio had 259 employees, compared to 254 employees as at the previous year end. Financial information The following tables set out non consolidated balance sheet and income statement information relating to Banco di San Giorgio. Such information is derived from the separate financial statements of Banco di San Giorgio as at and for the years ended 31 December 2008 and 2007, which are publicly available (in Italian only) on the website of Banco di San Giorgio (www.bancodisangiorgio.it). The financial statements of Banco di San Giorgio are prepared in accordance with IFRS. BALANCE SHEET (In thousands of Euro) 31.12.2008 31.12.2007 Assets Cash and cash equivalents...................................................................................................................... 11,529 7,466 Financial assets held for trading............................................................................................................. 24,455 16,288 Available-for-sale financial assets ......................................................................................................... 296 306 Loans to banks ....................................................................................................................................... 204,237 50,997 Loans to customers ................................................................................................................................ 2,033,807 1,709,731 Hedging derivatives ............................................................................................................................... 5,508 4,728 Chance in fair value of hedged financial assets...................................................................................... 8,898 — Equity investments................................................................................................................................. 886 103 Property, plant and equipment ............................................................................................................... 12,369 11,333 Intangible assets..................................................................................................................................... 19,876 19,876 of which goodwill:.................................................................................................................................. 19,876 19,876 Tax assets............................................................................................................................................... 4,036 4,751 (a) current ............................................................................................................................................ 2,227 1,967 (b) deferred........................................................................................................................................... 1,809 2,784 Other assets............................................................................................................................................ 13,440 17,777 Total assets ........................................................................................................................................... 2,339,337 1,843,356 Liabilities and Shareholders' Equity - 150 -
Prospectus (In thousands of Euro) 31.12.2008 31.12.2007 Due to banks .......................................................................................................................................... 256,183 734,024 Due to customers ................................................................................................................................... 751,509 497,640 Securities issued..................................................................................................................................... 1,129,484 431,383 Financial liabilities held for trading ....................................................................................................... 19,756 16,205 Hedging derivatives ............................................................................................................................... 13,246 2,036 Tax liabilities:........................................................................................................................................ 6,517 9,925 (a) current ............................................................................................................................................ 4,376 2,450 (b) deferred........................................................................................................................................... 2,141 7,475 Other liabilities ...................................................................................................................................... 35,684 32,816 Staff severance provisions ..................................................................................................................... 2,278 2,820 Provisions for liabilities and charges: .................................................................................................... 1,550 1,412 (a) other provisions .............................................................................................................................. 1,550 1,412 Valuation reserve ................................................................................................................................... (72) 56 Reserves................................................................................................................................................. 23,087 19,389 Share issue premium.............................................................................................................................. 13,872 13,872 Capital ................................................................................................................................................... 66,927 66,927 Profit for the year................................................................................................................................... 19,319 14,852 Total liabilities and shareholders' equity ........................................................................................... 2,339,337 1,843,356 INCOME STATEMENT (In thousands of Euro) 31.12.2008 31.12.2007 Interest and similar income...................................................................................................................... 128,913 93,650 Interest expense and similar..................................................................................................................... (77,972) (48,039) Net interest income ................................................................................................................................ 50,941 45,611 Commission income ................................................................................................................................ 14,423 15,472 Commission expenses.............................................................................................................................. (1,791) (1,533) Net commission income ......................................................................................................................... 12,632 13,939 Dividends and similar income.................................................................................................................. 10 21 Net profit (loss) from trading activities.................................................................................................... 948 359 Net profit (loss) from hedging activities .................................................................................................. 326 (112) Profit (loss) from disposal or repurchase of: ............................................................................................ 275 408 (a) Available-for-sale financial assets .................................................................................................... — 11 (b) financial liabilities ............................................................................................................................ 275 398 Gross income 65,133 60,228 Net impairment losses on:........................................................................................................................ (5,605) (3,903) (a) loans ................................................................................................................................................. (5,577) (3,796) (b) Available-for-sale financial assets .................................................................................................... (10) — (d) other financial transactions .............................................................................................................. (17) (107) Net financial operating income ............................................................................................................. 59,528 56,325 Administrative expenses .......................................................................................................................... (36,014) (35,303) (a) staff costs .......................................................................................................................................... (18,004) (18,734) (b) other administrative expenses ........................................................................................................... (18,010) (16,568) Net provisions for liabilities and charges ................................................................................................. (359) (276) Net impairment losses on property, plan and equipment.......................................................................... (844) (762) Other operating income (expense) ........................................................................................................... 4,325 4,139 Operating costs....................................................................................................................................... (32,892) (32,202) Profit (loss) from continuing operations before tax............................................................................. 26,636 24,123 Taxes on income for the period for continuing operations ....................................................................... (7,317) (9,271) Profit (loss) from after tax..................................................................................................................... 19,319 14,852 Profit (loss) for the period ..................................................................................................................... 19,319 14,852 B@nca 24–7 S.p.A. B@nca 24–7 S.p.A. is the company of the UBI Banca Group specialising in mortgage loans, personal loans, salary-backed loans and credit cards. The Head Office and General Management of the Bank are located in Piazza Vittorio Veneto 8, 24122 Bergamo (Italy). B@nca 24–7 S.p.A.'s fiscal code, VAT number and registration number in the Company Registry of Bergamo is 02805490162. B@nca 24–7 S.p.A. is registered under number 5487 in the Bank of Italy's Bank Registry and under number 3111.2 in the Bank of Italy's Banking Groups' Registry. - 151 -
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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
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Prospectus USE OF PROCEEDS The net
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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 and 146: Prospectus Funding Banca di Valle C
Page 149: 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,
Page 197 and 198: Prospectus Where an Italian residen
Page 199 and 200: 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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