Prospectus UBI Banca Covered Bond Programme

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Prospectus BALANCE SHEET (In thousands of Euro) 31.12.2008 31.12.2007 Assets Cash and cash equivalents..................................................................................................................... 12 18 Financial assets held for trading............................................................................................................ — 475 Available-for-sale financial assets ........................................................................................................ 186 — Loans to banks ...................................................................................................................................... 207,565 96,844 Loans to customers ............................................................................................................................... 8,666,215 4,403,671 Hedging derivatives .............................................................................................................................. 1,977 7,071 Change in fair value change of hedged financial assets (+/-) ................................................................ 152,477 (3,345) Property, plant and equipment .............................................................................................................. 186 139 Intangible assets.................................................................................................................................... 87 — Tax assets.............................................................................................................................................. 41,470 4,813 (a) current ........................................................................................................................................... 3,096 2,263 (b) deferred.......................................................................................................................................... 38,374 2,550 Other assets........................................................................................................................................... 667,483 38,811 Total assets .......................................................................................................................................... 9,737,658 4,548,497 Liabilities and Shareholders' Equity Due to banks ........................................................................................................................................ 4,642,270 1,056,967 Due to customers ................................................................................................................................. 16,560 14,188 Securities issued................................................................................................................................... 4,323,493 3,154,269 Financial liabilities held for trading ..................................................................................................... 1,805 — Hedging derivatives ............................................................................................................................. 158,695 2,032 Tax liabilities:...................................................................................................................................... 6,524 2,553 (a) current .......................................................................................................................................... 6,379 2,545 (b) deferred......................................................................................................................................... 144 8 Other liabilities .................................................................................................................................... 293,192 60,366 Staff severance provisions ................................................................................................................... 971 71 Provisions for liabilities and charges: .................................................................................................. 1,726 1,842 (a) other provisions ............................................................................................................................ 1,726 1,842 Reserves............................................................................................................................................... 22,871 3,869 Share issue premium............................................................................................................................ 24,000 — Capital ................................................................................................................................................. 264,300 240,000 Profit for the year (+/-)......................................................................................................................... (18.748) 12,340 Total liabilities and shareholders' equity ......................................................................................... 9,737,658 4,548,497 INCOME STATEMENT (In thousands of Euro) 31.12.2008 31.12.2007 Interest and similar income.................................................................................................................. 464,779 197,264 Interest expense and similar................................................................................................................. (357,113) (152,590) Net interest income ............................................................................................................................ 107,666 44,674 Commission income ............................................................................................................................ 58,831 33,934 Commission expenses.......................................................................................................................... (32,907) (25,493) Net commission .................................................................................................................................. 25,924 8,441 Dividends and similar income.............................................................................................................. 631 — Net profit (loss) from trading............................................................................................................... (3,420) 420 Net profit (loss) from hedging.............................................................................................................. (7,282) 1,215 Profit (losses) from disposal or repurchase of:..................................................................................... — 110 (a) loans ............................................................................................................................................. — 110 Gross income ...................................................................................................................................... 123,520 54,860 Net impairment losses on:.................................................................................................................... (104,688) (16,120) (a) loans ............................................................................................................................................. (104,688) (16,120) Net financial operating income ......................................................................................................... 18,832 38,740 Administrative expenses ...................................................................................................................... (57,307) (32,981) (a) staff costs ...................................................................................................................................... (13,133) (8,245) (b) other administrative expenses ....................................................................................................... (44,173) (24,736) Net provisions for liabilities and charges ............................................................................................. (1,626) (1,626) Net impairment losses on property, plan and equipment...................................................................... (93) (24) Net impairment losses on intangible assets .......................................................................................... (144) — Other operating income (expense) ....................................................................................................... 22,790 16,820 Operating costs................................................................................................................................... (36,380) (17,812) Profit (loss) on continuing operations before tax............................................................................. (17,548) 20,928 Taxes on income for the period for continuing operations ................................................................... (1,200) (8,588) - 154 -
Prospectus (In thousands of Euro) 31.12.2008 31.12.2007 Profit (loss) after tax on continuing operations ............................................................................... (18,748) 12,340 Profit (loss) for the year..................................................................................................................... (18,748) 12,340 Significant events occurred in 2008 On 1 January 2008, the production activities of Silf (company of the former BL Group active mainly in finalised loans) were contributed to B@nca 24–7 S.p.A. Banca 24–7 has consequently become the only consumer lending product company of the Group. Silf has retained the brand and has focussed its activities on distribution. As at 31 December 2007, Silf had loans to customers totalling Euro 1.6 billion, good credit quality, with a ratio of net non performing loans to total net loans of 0.50 per cent., and a net profit of Euro 1.2 million. UBI Banca Private Investment S.p.A. UBI Banca Private Investment is a bank providing financial advisory and private banking services. It is 100 per cent. owned by UBI Banca. It was formed through the merger by incorporation, effective 1 January 2008, of UBI Società di Intermediazione Mobiliare S.p.A. into Banca Lombarda Private Investment S.p.A. The bank operates through a distribution network of over 900 financial advisors. The Head Office and General Management of the Bank are located in Via Cefalonia, 74, Brescia (Italy). UBI Banca Private Investment S.p.A.'s fiscal code and registration number in the Company Registry of Brescia is 00485260459 and its VAT number is 02458160245; the company is part of the UBI Banca Group, registered under number 3111.2 in the Bank of Italy's Banking Groups' Registry. Business object According to Article 2 of its by-Laws, the duration of the company is up to 31 December 2050 but may be extended. 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. For such purposes, it 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. The company may issue bonds in accordance with laws and regulations. Share capital and shareholders According to Article 4 of its by-Laws, UBI Banca Private Investment has issued and fully paid-up capital of Euro67,950,000.00 consisting of 22,650,000 shares with a nominal value of Euro3.00 each. UBI Banca Private Investment shares are unlisted and fully owned by UBI Banca. Subsidiaries and associated companies UBI Banca Private Investment has a 2 per cent. stake in UBI Sistemi e Servizi S.c.p.A. Auditors The auditors of UBI Banca Private Investment S.p.A. are Reconta Ernst & Young S.p.A. (Banca Lombarda Private Investment S.p.A's accounts were audited by Reconta Ernst & Young S.p.A., while the accounts of UBI Società di Intermediazione Mobiliare S.p.A. were audited by KPMG S.p.A). UBI Private Investment's Board of Directors, Statutory Board of Auditors and Management Board of Directors The Board of Directors of UBI Banca Private Investment S.p.A. presently consists of the following persons: Name Mario Comana ........................................................................................................................................ Giovanni Lecchi...................................................................................................................................... Position Chairman Deputy Chairman - 155 -
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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
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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 and 150: Prospectus Direct funding from cust
Page 153: 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
Page 201 and 202: Prospectus and (3) an annual net tu
Page 203 and 204: 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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