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A world of services<br />
for Corporate<br />
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Disclaimer<br />
This document has been prepared by<br />
Unione di Banche Italiane Scpa (“<strong>UBI</strong>”) for<br />
informational purposes only and for use in<br />
the presentation of September 2010.<br />
It is not permitted to publish, transmit or<br />
otherwise reproduce this document, in<br />
whole or in part, in any format, to any third<br />
party without the express written consent<br />
of <strong>UBI</strong> and it is not permitted to alter,<br />
manipulate, obscure or take out of context<br />
any information set out in the document.<br />
The information, opinions, estimates and<br />
forecasts contained herein have not been<br />
independently verified and are subject to<br />
change without notice.<br />
They have been obtained from, or are<br />
based upon, sources we believe to be<br />
reliable but <strong>UBI</strong> makes no representation<br />
(either expressed or implied) or warranty<br />
on their completeness, timeliness or<br />
accuracy.<br />
Nothing contained in this document or<br />
expressed during the presentation<br />
constitutes financial, legal, tax or other<br />
advice, nor should any investment or any<br />
other decision be solely based on this<br />
document.<br />
Page 2<br />
This document does not constitute a<br />
solicitation, offer, invitation or<br />
recommendation to purchase, subscribe<br />
or sell for any investment instruments, to<br />
effect any transaction, or to conclude any<br />
legal act of any kind whatsoever.<br />
This document may contain statements<br />
that are forward-looking: such statements<br />
are based upon the current beliefs and<br />
expectations of <strong>UBI</strong> and are subject to<br />
significant risks and uncertainties. These<br />
risks and uncertainties, many of which are<br />
outside the control of <strong>UBI</strong>, could cause the<br />
results of <strong>UBI</strong> to differ materially from<br />
those set forth in such forward looking<br />
statements.<br />
Under no circumstances will <strong>UBI</strong> or its<br />
affiliates, representatives, directors,<br />
officers and employees have any liability<br />
whatsoever (in negligence or otherwise)<br />
for any loss or damage howsoever arising<br />
from any use of this document or its<br />
contents or otherwise arising in<br />
connection with the document or the<br />
above mentioned presentation.<br />
For further information about the <strong>UBI</strong><br />
Group, please refer to publicly available<br />
information, including Annual, Quarterly<br />
and Interim Reports.<br />
By receiving this document you agree to<br />
be bound by the foregoing limitations.<br />
Please be informed that some of the<br />
managers of <strong>UBI</strong> involved in the drawing<br />
up and in the presentation of data<br />
contained in this document either<br />
participated in a stock option plan and<br />
were therefore assigned stock of the<br />
company or possess stock of the bank<br />
otherwise acquired. The disclosure<br />
relating to shareholdings of top<br />
management is available in the half year<br />
and the annual reports.<br />
Methodology<br />
All data are as at 30th September<br />
2010 unless otherwise stated.
Agenda<br />
Page 3<br />
<strong>UBI</strong> <strong>Banca</strong> Group<br />
<strong>UBI</strong> <strong>Banca</strong> International Network<br />
Contacts<br />
Annex
Agenda<br />
Page 4<br />
<strong>UBI</strong> <strong>Banca</strong> Group<br />
Background<br />
<strong>UBI</strong> <strong>Banca</strong> and its Peers<br />
Solid Ratings<br />
Capital Ratios<br />
Group Structure<br />
Presence in Italy<br />
Product Companies
Background<br />
<strong>UBI</strong> <strong>Banca</strong> was created on April 1st 2007 following the merger of the BPU Group<br />
and the <strong>Banca</strong> Lombarda e Piemontese Group<br />
Birth of the BPU<br />
<strong>Banca</strong> Group<br />
from the integration<br />
of BPB-CV and<br />
BPCI<br />
2003<br />
2000<br />
Acquisition of <strong>Banca</strong><br />
Regionale Europea<br />
by <strong>Banca</strong> Lombarda.<br />
The Group takes<br />
the name of<br />
<strong>Banca</strong> Lombarda<br />
e Piemontese Group<br />
Page 5<br />
1st April 2007<br />
Birth of <strong>UBI</strong> <strong>Banca</strong><br />
following<br />
the merger of the<br />
BPU <strong>Banca</strong> Group<br />
and the<br />
<strong>Banca</strong> Lombarda<br />
e Piemontese Group<br />
The Cooperative Banks<br />
Given the cooperative nature of the activity<br />
carried out, the corporate governance of Cooperative<br />
Banks is based on principles aiming at:<br />
Maintaining a broad shareholder base<br />
Ensuring that all shareholders can equally<br />
participate in the governance of the bank<br />
The corporate governance system is focused<br />
on the following key features:<br />
the “one-person one-vote” principle, conferring<br />
identical weight in decision making to any<br />
shareholder,<br />
the so-called “clausola di gradimento”, according<br />
to which the banks’ Board can reject a shareholder if<br />
he or she doesn’t meet specific requirements<br />
(integrity, compliance to the cooperative spirit, etc)<br />
defined in the company’s by-law,<br />
the limitation to share ownership applied to<br />
all shareholders excluding investment funds<br />
the limitation imposed on proxy votes.<br />
The said principles are equally applied<br />
to listed and non-listed banks,<br />
thus reducing significantly<br />
the probability<br />
for a Cooperative Bank to be a<br />
target of a hostile takeover<br />
The acquisition of a Cooperative Bank<br />
by a non-Cooperative could be subject<br />
to significant difficulties,<br />
mainly due to the unique<br />
legal status of these banks.
<strong>UBI</strong> <strong>Banca</strong> and its Peers<br />
Total Assets as at 30th September 2010 (EUR bln)<br />
Source: 9M 2010 press releases and presentations.<br />
969<br />
Unicredit<br />
Group<br />
No. Domestic Branches as at 30th September 2010<br />
Source: 9M 2010 press releases and presentations.<br />
Page 6<br />
5,877<br />
Intesa<br />
San Paolo<br />
677<br />
Intesa<br />
San Paolo<br />
4,513<br />
Unicredit<br />
Group<br />
243<br />
Monte<br />
dei Paschi<br />
di Siena<br />
2,980<br />
Monte<br />
dei Paschi<br />
di Siena<br />
Banco<br />
Popolare<br />
2,187<br />
Banco<br />
Popolare<br />
5th<br />
136 132<br />
<strong>UBI</strong><br />
<strong>Banca</strong><br />
5th<br />
1,899<br />
<strong>UBI</strong><br />
<strong>Banca</strong><br />
58<br />
Gruppo<br />
BPER<br />
1,297<br />
Gruppo<br />
BPER<br />
52<br />
<strong>Banca</strong><br />
Popolare<br />
di Milano<br />
782<br />
<strong>Banca</strong><br />
Popolare<br />
di Milano<br />
Customer Loans as at 30th September 2010 (EUR bln)<br />
Source: 9M 2010 press releases and presentations.<br />
559<br />
Unicredit<br />
Group<br />
Market Capitalization as at 10th January 2011 (EUR bln)<br />
Source: “Il Sole 24 Ore” Italian financial newspaper - dated 11th January 2011.<br />
28.9 24.6<br />
Unicredit<br />
Group<br />
379<br />
Intesa<br />
San Paolo<br />
Intesa<br />
San Paolo<br />
153<br />
Monte<br />
dei Paschi<br />
di Siena<br />
4.4<br />
Monte<br />
dei Paschi<br />
di Siena<br />
4th<br />
101<br />
<strong>UBI</strong><br />
<strong>Banca</strong><br />
4th<br />
4.1<br />
<strong>UBI</strong><br />
<strong>Banca</strong><br />
96<br />
Banco<br />
Popolare<br />
2.3<br />
Gruppo<br />
BPER<br />
47<br />
Gruppo<br />
BPER<br />
2.1<br />
Banco<br />
Popolare<br />
35<br />
<strong>Banca</strong><br />
Popolare<br />
di Milano<br />
1.1<br />
<strong>Banca</strong><br />
Popolare<br />
di Milano
Solid Ratings<br />
Page 7<br />
STANDARD & POOR’S MOODY’S FITCH RATINGS<br />
Short-term counterparty A-1<br />
credit rating<br />
Long-term counterparty A<br />
credit rating<br />
Outlook Negative<br />
Long-term debt and A1<br />
deposit rating<br />
Short-term debt and Prime-1<br />
deposit rating<br />
Bank financial strength rating C<br />
Baseline Credit Assessment A3<br />
Outlook (deposit rating) Stable<br />
Outlook Negative<br />
(bank financial strength rating)<br />
Short-term issuer F1<br />
default rating<br />
Long-term issuer A<br />
default rating<br />
Bank individual rating B/C<br />
Support rating 2<br />
Support rating floor BBB<br />
Outlook for long-term issuer<br />
default rating Stable<br />
RATINGS ON ISSUES RATINGS ON ISSUES RATINGS ON ISSUES<br />
Senior unsecured debt A<br />
Subordinated debt A-<br />
(Lower Tier II)<br />
Preference shares BBB<br />
French Certificats de Dépôt A-1<br />
Programme<br />
Senior unsecured LT A1<br />
Lower Tier II subordinated A2<br />
Preference shares Baa3<br />
(BPB and BL)<br />
Euro comm. paper Prime-1<br />
programme<br />
Covered bond Aaa<br />
Senior unsecured debt A<br />
Lower Tier II subordinated A-<br />
Preference shares BBB+<br />
Euro comm. paper programme F1<br />
Covered bond AAA
Capital Ratios<br />
Estimated Core Tier 1 at 7.56% at the end of September 2010<br />
High quality capital (94% is Core Tier 1)<br />
Solid capital ratios throughout the crisis: Core tier 1 higher than 7% in 2008, 2009 and 9M2010<br />
Only one, amongst Italian larger banks, which didn't resort to extraordinary measures to enhance capital<br />
regular distribution of dividend<br />
no government help and no capital increase<br />
Buffers for the adoption of Basel III in 2013<br />
Page 8<br />
30.09.2010<br />
estimated<br />
31.12.2009 30.09.2009<br />
estimated<br />
Core Tier 1 7.56% 7.43% 7.33%<br />
Tier 1 8.08% 7.96% 7.86%<br />
Total Capital Ratio 12.09% 11.91% 11.76%<br />
Dividend (€ cent) Included pro quota 0.30% Included pro quota<br />
Soft mandatory convertible bond amounting to 640 million euro expiry 2013 (presently representing over 70<br />
bps of Core tier 1)<br />
Adoption of advanced model end 2012: benefit currently prudently estimated in over 50 bps
Northern<br />
Italy<br />
Central<br />
Italy<br />
Southern<br />
Italy<br />
The Group Structure<br />
<strong>UBI</strong> <strong>Banca</strong> provides management, co-ordination, control and supply of centralized services to the commercial banks (single IT System, centralised risk management,<br />
centralised finance and treasury, commercial coordination, credit coordination, logistics, purchasing, on line banking, etc.).<br />
Information on branches updated as at 31 st December 2010, ownership updated as at 30 th September 2010.<br />
(1) moreover, 24.98% of capital held by Fondazione Cassa di Risparmio di Cuneo and the rest by minority shareholders;<br />
(2) moreover, 8.69% of capital held by Aviva, 16.24% of capital held by Fondazione <strong>Banca</strong> del Monte di Lombardia and the rest by minority shareholders;<br />
(3) and (4): the remaining capital held by minority shareholders<br />
(5) moreover, 6.49% of capital held by Aviva and the rest by minority shareholders;<br />
(6) moreover, 7.15% of capital held by Aviva and the rest by minority shareholders;<br />
* branches outside Italy<br />
Page 9<br />
COMMERCIAL BANKS MAIN PRODUCT COMPANIES<br />
365 BRANCHES<br />
362 BRANCHES<br />
226+3* BRANCHES<br />
234 BRANCHES<br />
64 BRANCHES<br />
57 BRANCHES<br />
248 BRANCHES<br />
294 BRANCHES<br />
31 BRANCHES<br />
~ 850 FINANCIAL ADVISORS<br />
100.00%<br />
100.00%<br />
74.94% (1)<br />
75.08% (2)<br />
82.96% (3)<br />
93.46% (4)<br />
92.89% (5)<br />
92.83% (6)<br />
100.00%<br />
ASSET MANAGEMENT<br />
CONSUMER CREDIT<br />
CORPORATE BANKING<br />
FACTORING<br />
LEASING<br />
NON-LIFE BANCASSURANCE<br />
LIFE BANCASSURANCE<br />
ON LINE TRADING<br />
(partnership with Prudential US)<br />
(partnership with BNP Paribas / Fortis)<br />
Vita<br />
(partnership with Aviva)<br />
(partnership with Cattolica)
Presence in Italy<br />
Introduction to the <strong>UBI</strong> <strong>Banca</strong> Group*:<br />
Predominant Retail Business and Strong Northern Italian Franchise<br />
Page 10<br />
1<br />
226<br />
58<br />
1,892 branches in Italy +<br />
9 branches abroad<br />
1<br />
855<br />
2<br />
46<br />
9<br />
45<br />
12<br />
106<br />
23<br />
119<br />
17<br />
6<br />
100<br />
36<br />
115<br />
115<br />
Extensive regional coverage and strong customer base<br />
Approximately 4 million clients, mainly retail**.<br />
1,892 branches in Italy and 9 abroad<br />
19,867 staff (21,700 as at 1 st April 2007)<br />
National market share of 5.6%*** in terms of branches.<br />
855 branches in Lombardia with a market share in terms of<br />
branches of 12.9%, and 226 branches in Piemonte with a<br />
market share in terms of branches of 8.3%.<br />
Market share greater than 10% in 19 Italian provinces.<br />
High concentration of branches in key provinces like Milan<br />
(approximately 10% of market share) and Rome (approx.<br />
4% of market share).<br />
* Figures as at 30 th September 2010, with the exception of branch<br />
distribution updated as at 31 st December 2010<br />
** 3.3 mln mass market (net worth < 50,000€)+ affluent customers (net<br />
worth from 50,000€ to 500,000€), 400,000 small business customers<br />
(turnover up to 5 million€), over 42,000 corporate customers ( turnover<br />
higher than 5 million€), and approx. 63,000 Private Banking customers<br />
(net worth higher than 500,000€)<br />
*** All Market shares as at 30 th June 2010 (latest system data available)
Product Companies (1/2)<br />
Data as at 30.09.2010<br />
Page 11<br />
Corporate and Investment Banking<br />
Centrobanca is specialised in corporate and investment banking services.<br />
It focuses on the mid-upper corporate segment and provides customers with<br />
medium to long term financial services, investment banking services and hedging for<br />
interest rate and foreign exchange risk.<br />
~ 6.8 bln EUR in net Loans to Customers<br />
Leasing<br />
<strong>UBI</strong> Leasing offers its clients financing for asset acquisition such as: instrumental<br />
leasing, real estate leasing, car leasing, aero naval leasing as well as specific<br />
insurance and accessory services.<br />
~ 9.8 bln EUR in net Loans to Customers<br />
Factoring<br />
<strong>UBI</strong> Factor offers highly specialized factoring services in support of the growth<br />
of companies and public administrations. The company is in Milan with a capillar<br />
structure across the national territory and also in Poland with its subsidiary in<br />
Krakow. Since 1984 <strong>UBI</strong> Factor is part of the Factors Chain International network<br />
which allows it to retain a presence in more than 50 countries and with more than 200<br />
foreign partners.<br />
~ 5.3 bln EUR Turnover; ~ 2.4 bln EUR net Loans to Customers
Product Companies (2/2)<br />
Data as at 30.09.2010<br />
Page 12<br />
Asset Management<br />
<strong>UBI</strong> Pramerica develops, manages, markets and distributes a wide range<br />
of financial products and services dedicated to private customers and institutions. It<br />
has been awarded various international prizes: “Grand Prix Eurofonds Best<br />
Company” in the “16-25 funds category with fund class rating” in 2009.<br />
“Best Mixed Asset EUR Conservative - Europe over 3 years” awarded by Lipper,<br />
2009.<br />
~ 32.5 bln EUR in Assets Under Management<br />
Consumer Credit<br />
B@nca 24-7 is the consumer credit company of the Group: it develops a full<br />
range of lending products for households (eg. personal loans, mortgages, salary<br />
backed loans, etc..) and is credit card issuer for the Group.<br />
It has also agreements with non captive distribution networks.<br />
~ 11.1 bln EUR in net Loans to Customers<br />
Online Trading<br />
IW Bank is a market leader in online trading in Italy with a strategy based on<br />
three fundamental objectives: continuous product/service innovation, constant<br />
development of technological platforms, professional support for the customer.<br />
~ 5.6 mln number of transactions
Agenda<br />
Page 13<br />
<strong>UBI</strong> <strong>Banca</strong> International Network<br />
International Network<br />
Presence in the world<br />
Foreign Banks
International Network<br />
COMMERCIAL BANKS<br />
FOREIGN BRANCHES<br />
MENTON, NICE AND ANTIBES<br />
(<strong>Banca</strong> Regionale Europea)<br />
Page 14<br />
<strong>UBI</strong> TRUSTEE SA<br />
(Luxembourg)<br />
Head office in Luxembourg<br />
SUBSIDIARIES<br />
FOREIGN BRANCHES<br />
KRAKOW<br />
(<strong>UBI</strong> Factor)<br />
SHANGHAI<br />
(Lombarda China Fund<br />
Management company)<br />
MADRID<br />
MUNICH<br />
FOREIGN BANKS<br />
MOSCOW<br />
MUMBAI<br />
HONG KONG<br />
BDG SINGAPORE<br />
PRIVATE LTD<br />
REPRESENTATIVE<br />
OFFICES<br />
Head office in Lausanne<br />
SAO PAULO<br />
SHANGHAI<br />
VIENNA<br />
(Regional Manager)<br />
SUBSIDIARIES BRANCHES SUBSIDIARIES BRANCHES<br />
LAUSANNE<br />
LUGANO<br />
GENEVA
Presence in the world<br />
<strong>UBI</strong> <strong>Banca</strong> is present in Asia, Latin America and Europe<br />
Page 15<br />
Luxembourg<br />
<strong>UBI</strong> <strong>Banca</strong> International<br />
<strong>UBI</strong> Trustee SA<br />
Antibes, Menton, Nice<br />
<strong>Banca</strong> Regionale Europea<br />
Branches<br />
Madrid<br />
<strong>UBI</strong> <strong>Banca</strong> International<br />
Branch<br />
�<br />
<strong>Munich</strong><br />
<strong>UBI</strong> <strong>Banca</strong> International<br />
Branch<br />
�<br />
�� � ���<br />
São Paulo<br />
Representative Office<br />
Krakow<br />
<strong>UBI</strong> Factor<br />
�<br />
Branch<br />
Moscow<br />
Representative Office<br />
Vienna<br />
Regional<br />
Manager<br />
Lausanne<br />
Banque de Dépôts et de Gestion<br />
(Branches in Lugano, Geneva)<br />
�<br />
�<br />
�<br />
Mumbai<br />
Representative Office<br />
�<br />
Shanghai<br />
• Representative Office<br />
• Lombarda China Fund<br />
Management Company<br />
Hong Kong<br />
Representative Office<br />
Singapore<br />
BDG Singapore Pte. Ltd
Foreign Banks<br />
Foreign branches:<br />
Madrid - <strong>Munich</strong><br />
Page 16<br />
Qualified and specific services offered<br />
to Corporate customers:<br />
establishment of international companies;<br />
international tax management;<br />
trustee operations and corporate<br />
financing;<br />
payment services;<br />
corporate and syndicated loans;<br />
issuance of bonds and international<br />
guarantees;<br />
cash pooling;<br />
factoring.<br />
Services offered to Private<br />
customers:<br />
wealth management and investment<br />
advisory;<br />
heritage and personal wealth planning<br />
with tailor made financial engineering<br />
solutions;<br />
investment Funds and Sicav;<br />
financial and asset planning with<br />
tailored engineering solutions;<br />
term deposits in all major currencies,;<br />
trading and safekeeping of securities on<br />
all the major stock and bond markets;<br />
spot and forward foreign exchange<br />
transactions;<br />
services for the establishment of Trust<br />
Companies through <strong>UBI</strong> Trustee SA<br />
based in Luxembourg.
Foreign Banks<br />
Page 17<br />
Established in Lausanne in 1933 and taken<br />
over by the Group in 1994, It has a business<br />
mainly focused on Private Banking.<br />
It offers to its Private Clientele a wide range<br />
of customized products and services<br />
including investments, financial planning,<br />
accounts, payments, lines of credit and<br />
loans.<br />
Since 2008 BDG owns BDG Singapore<br />
Private Ltd., a Fund Management<br />
Company in Singapore with a licence<br />
obtained from the Singapore Monetary<br />
Authority.<br />
The company offers Wealth<br />
Management services to High Net<br />
Worth Individuals, Family Offices and<br />
Institutional Investors.<br />
Thanks to its strong experience in the<br />
Region, BDG Singapore Private can also<br />
assist in a customized fashion its clients<br />
with regards to their needs in South-East<br />
Asia and Oceania.
Agenda<br />
Page 18<br />
Contacts<br />
<strong>UBI</strong> <strong>Banca</strong> Correspondent Banking<br />
Representative Offices Contacts
<strong>UBI</strong> <strong>Banca</strong> Correspondent Banking<br />
Alistair Newell<br />
Head of Correspondent Banking<br />
alistair.robert.newell@ubibanca.it<br />
AUSTRALASIA<br />
LATIN AMERICA<br />
CARIBBEAN<br />
Western Europe:<br />
UK<br />
IRELAND<br />
Page 19<br />
correspondent.banking@ubibanca.it<br />
Federico Ferrari<br />
Area Manager<br />
federico.ferrari@ubibanca.it<br />
ASIA<br />
NORTH AMERICA<br />
RUSSIA AND CIS COUNTRIES<br />
Western Europe:<br />
AUSTRIA<br />
GERMANY<br />
PORTUGAL<br />
SWITZERLAND<br />
SPAIN<br />
Ernst Rolf Hartmann<br />
Area Manager<br />
ernst.rolf.hartmann@ubibanca.it<br />
BALTIC COUNTRIES<br />
BALKANS<br />
EASTERN EUROPE<br />
INDIA<br />
BANGLADESH<br />
PAKISTAN<br />
SRI LANKA<br />
MALDIVES<br />
ISRAEL<br />
MOLDOVA<br />
Western Europe:<br />
BELGIUM<br />
NETHERLANDS<br />
LUXEMBOURG<br />
CYPRUS<br />
GREECE<br />
FRANCE<br />
MALTA<br />
DENMARK<br />
GREENLAND (DK)<br />
ICELAND<br />
VATICAN CITY<br />
Lorenzo Tassini<br />
Area Manager<br />
lorenzo.tassini@ubibanca.it<br />
AFRICA<br />
MIDDLE EAST<br />
TURKEY
Representative Offices Contacts<br />
HONG KONG<br />
Mr Andrea Croci<br />
hongkong@ubihk.com<br />
Suite 2911, Shell Tower,<br />
Times Square 1, Matheson St. -<br />
Causeway Bay Hong Kong - S.A.R.<br />
Tel. +852 2878 7393<br />
Fax +852 2878 7932<br />
MOSCOW<br />
Mr Ferdinando Pelazzo<br />
moscow@ubibanca.com<br />
10, Nikolskaya str., 7 th floor,<br />
Business Centre “Tretiakov Plaza”<br />
109012 Moscow - Russia<br />
Tel. +7 495 725 4466<br />
Fax +7 495 725 4465<br />
Page 20<br />
MUMBAI<br />
Ms Rajeshree Balsari<br />
mumbai@ubibanca.com<br />
92 Mittal Chambers, 9 th Floor,<br />
Nariman Point,<br />
400 021 Mumbai - India<br />
Tel. +91 22 22023601<br />
Fax +91 22 22023603<br />
SAO PAULO<br />
Mr Isidoro Guerrerio<br />
saopaulo@ubibanca.com<br />
Al. Ministro Rocha Azevedo,<br />
456 Ed. Jaù - 4° And.Cj.402<br />
CEP 01410-000 São Paulo -<br />
Brazil<br />
Tel. +55 11 3063 0454<br />
Fax +55 11 3063 3785<br />
Ms Lu Bo<br />
SHANGHAI<br />
office@ubibanca.sh.cn<br />
802, 8 th Floor, Hotel Equatorial<br />
Office Building 65, Yan’an Road W.<br />
200040 Shanghai - China<br />
Tel. +86 21 6249 0066<br />
Fax +86 21 6249 1237<br />
VIENNA (Regional Manager)<br />
Ms Annick Stockert<br />
annick.stockert@ubibanca.it<br />
Renngasse 10<br />
1013 Wien- Austria<br />
Tel. +43 1 531 354498<br />
Cell. +43 676 93 77224
Agenda<br />
Page 21<br />
Annex<br />
Group Results<br />
Group BIC codes
Group Results<br />
Page 22<br />
Balance sheet in million euro 9M2010 Change<br />
9M10/9M09<br />
Loans to customers 101,195 4.8%<br />
Direct funding 103,876 8.7%<br />
Indirect funding (AuM + AuC) 79,036 0.7%<br />
Total assets 131,744 7.7%<br />
Loans to customers / total assets 76.8%<br />
Income statement in million euro 9M2010 Chance<br />
9M10/9M09<br />
Net Interest income 1,594 -13.5%<br />
Net commissions 872 -1.3%<br />
Operating income 2,586 -12.3%<br />
Staff costs (1,107) -1.1%<br />
Staff costs net of non recurring items (1,074) -4.0%<br />
Other administrative expenses (568) 1.9%<br />
D&A (183) 5.5%<br />
Operating costs (1,859) 0.5%<br />
Operating costs net of non recurring items (1,826) -1.3%<br />
Net operating income 727 -33.7%<br />
Net impairment losses on loans (456) -23.1%<br />
Net profit for the period 198 5.6%<br />
Economic results<br />
as at 30 September 2010 vs 30 September 2009<br />
Growth in Loans: market share up from 6.12% in Sept. 2009 to 6.24% in<br />
September 2010.<br />
Focus on traditional banking business (approx. 77% of total assets are<br />
represented by loans to customers).<br />
Funding plan on institutional markets for 2010 already completed.<br />
Total Indirect funding stable, with YoY increase in AuM (+3.4%) and<br />
decrease in AuC (-3.2%).<br />
Strong improvement in NII in 3Q2010, benefiting from the first effects of<br />
support manoeuvres put in place at the end of 2Q2010 (progressive<br />
repricing of spreads and investment in Italian Government bonds).<br />
NII expected to improve further in 4Q2010.<br />
Commission income virtually in line with September 2009.<br />
Net of one off costs related to Trade Union Agreement signed in May<br />
2010 (33.2 million euro), staff costs are down YoY (-4%). Out of 900 exits<br />
agreed in May, 500 resources have left the Group within 30 September<br />
2010. First savings expected in 4Q2010, and 70 mln at regime in 2011.<br />
Improvement in net impairment losses on loans, down to 60 bps in the<br />
first 9 months of the year versus 82 in the same period in 2009.
Group BIC codes<br />
Page 23<br />
� BIC ACTIVE<br />
� BIC NON ACTIVE<br />
BLOPIT22<br />
CABI LU LL<br />
BEPOIT21<br />
BCABIT21<br />
BREUITM1<br />
POCIITM1<br />
BPAMIT31<br />
CARMIT31<br />
BVCAIT21<br />
BPGGITG1<br />
BLPIIT21<br />
<strong>UBI</strong>B ES MM<br />
BEPO DE MM<br />
Madrid Branch<br />
<strong>Munich</strong> Branch
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