Prospectus UBI Banca Covered Bond Programme

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Prospectus Business object Pursuant to Article 4 of its by-Laws, the duration of the company is up to 31 December 2070. Its principal objects, as set out in Article 2 of its by-Laws, are deposit-taking and the carrying-out of all forms of lending activities. It may perform any financial activity subject to compliance with legislation in force, and any other activity or operations incidental to or in any way connected with the achievement of its corporate objects, operating in the market of financial and credit intermediation also through the distribution of services and products and also through multimedia channels. Distribution network As concerns mortgage loans, Banca 24–7 develops business through commercial agreements with distribution networks outside the UBI Banca Group. The issuance of credit cards (both charge and revolving) for the UBI Group is centralised in Banca 24–7. Personal loans and salary-backed loans are distributed both on captive and non captive customers. Lending Composition of loans to customers (In thousands of Euro) 31.12.2008 % 31.12.2007 % Current accounts ........................................................................................................ 202 0.0 517 0.0 Mortgage loans .......................................................................................................... 3,384,869 39.1 2,701,267 61.3 Credit cards, personal loans and salary-backed loans................................................. 5,138,984 59.3 1,596,978 36.3 Other transactions ...................................................................................................... 46,246 0.5 74,943 1.7 Impaired assets........................................................................................................... 95,914 1.1 29,966 0.7 TOTAL ..................................................................................................................... 8,666,215 100.0 4,403,671 100.0 Defaulted and problem loans The following table shows a breakdown of the Bank's loans as at 31 December 2008 and 2007. Loans to customers as at 31 December 2008 (In thousands of Euro) Gross exposure % Total net impairment losses Net exposure % Deteriorated loans........................................................................... 244,261 2.74 (148,348) 95,914 68.42 Non performing loans ....................................................................... 91,314 1.03 (28,544) 62,771 13.17 Impaired loans .................................................................................. 146,896 1.66 (119,770) 27,126 55.25 Restructured loans............................................................................. — 0.00 — — 0.00 Past due loans ................................................................................... 6,051 0.05 (34) 6,0174 0.01 Performing loans............................................................................. 8,638,736 97.26 (68,435) 8,570,301 31.57 TOTAL ............................................................................................ 8,882,997 100.00 (216,783) 8,666,215 100.00 Loans to customers as at 31 December 2007 (In thousands of Euro) Gross exposure % Total net impairment losses Net exposure % Deteriorated loans......................................................................... 40,055 0.90 (10,089) 29,966 0.68 Non performing loans ..................................................................... 10,805 0.24 (3,966) 6,839 0.16 Impaired loans ................................................................................ 28,910 0.65 (6,114) 22,796 0.52 Restructured loans........................................................................... — 0.00 — — 0.00 Past due loans ................................................................................. 340 0.01 (9) 331 0.01 Performing loans........................................................................... 4,386,488 99.10 (12,783) 4,373,705 99.32 TOTAL .......................................................................................... 4,426,543 100.00 (22,872) 4,403,671 100.00 Funding The following table presents the sources of the bank's funding as at 31 December 2008 and 2007. Figures in thousands of Euro 31.12.2008 31.12.2007 Due to customers .................................................................................................................................................... 16,560 14,188 Due to Banks (mainly to UBI Banca) ..................................................................................................................... 4,642,270 1,056,967 Securities in issue (mainly underwritten by UBI Banca)......................................................................................... 4,323,493 3,154,269 TOTAL .................................................................................................................................................................. 8,982,323 4,225,424 - 152 -
Prospectus Direct funding from customers 31.12.2008 % 31.12.2007 % Current accounts and deposits.................................................................................... 7,806 47.14 5,166 46.41 Time deposits............................................................................................................. — — 361 2.54 Other payables ........................................................................................................... 8,754 52.86 8,661 51.05 TOTAL ..................................................................................................................... 16,560 100.00 14,188 100.00 Board of Directors The Board of Directors of B@nca 24–7 S.p.A. presently consists of the following persons: Name Giancesare Toffetti ................................................................................................................................. Cesare Castelli ........................................................................................................................................ Francesco Iorio ....................................................................................................................................... Mario Masini .......................................................................................................................................... Vito Raffaele Torelli............................................................................................................................... Piero Bertolotto....................................................................................................................................... Giorgio Frigeri........................................................................................................................................ Position Chairman Executive Deputy Chairman Director Director Director Director Director The present Board of Directors has been appointed for a term of office expiring at the shareholders' meeting convened to approve the annual financial statements of Banca 24–7 for the year ending 31 December 2009. Board of Statutory Auditors The following table sets out the composition of the Board of Statutory Auditors. Name Pecuvio Rondini.................................................................................................................................................. Antonio Amaduzzi.............................................................................................................................................. Giorgio Guatri..................................................................................................................................................... Alberto Carrara ................................................................................................................................................... Ferruccio Rota Sperti .......................................................................................................................................... Position Chairman Acting Auditor Acting Auditor Alternate Auditor Alternate Auditor General Management Name Alessandro Prampolini....................................................................................................................................... Position General Manager Auditors The current independent auditors of Banca 24–7 are KPMG S.p.A., who have been appointed to audit the bank's financial statements for a period ending 31 December 2013. Share capital and shareholders B@nca 24–7 S.p.A. presently has an issued and fully paid-up share capital of Euro264,300,000, consisting of 264,300,000 ordinary shares with a nominal value of Euro1.00 each. B@nca 24–7 S.p.A.'s shares are unlisted and are wholly owned by UBI Banca. Employees As at 31 December 2008, B@nca 24–7 S.p.A. had 134 employees, compared to 129 employees as at the previous year end. Annual Financial Statements The annual financial statements incorporated by reference in this Prospectus have been prepared in accordance with International Financial Reporting Standards, as adopted by the European Union and as implemented under the Bank of Italy's instructions contained in Circular No. 262 of 22 December 2005 and related transitional regulations in Italy ("IFRS") and have been audited by KPMG S.p.A., whose reports are attached to such financial statements. - 153 -
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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,
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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
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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 and 150: Prospectus Direct funding from cust
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Page 157 and 158: Prospectus Loans to customers as at
Page 159 and 160: Prospectus Covered Bond Guarantee S
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Page 167 and 168: Prospectus notice substantially in
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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
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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 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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