996 - Banca Antonveneta

Equity investmentsBanca Antonveneta’s equity investment portfolio, in compliance with the IAS/IFRS, contains equity securities that relateto companies consolidated either fully or according to the equity method. As at 31 December 2007, this portfolio included17 investments, recorded on the balance sheet at an overall book value of 609.9 million euro. If Interbanca, which wasclassified during 2007 under “non-current assets and groups of assets held for sale” were included (recorded at a bookvalue exceeding 890.4 million euro), the balance would amount to 1,500.4 million euro.Without taking Interbanca into account, during the year there was a net decrease in the book value of equity investmentsof 1.5 million euro, due to the downward changes amounting to 3 million euro (disposal of the equity investment inCerere S.r.l. and application of the impairment test to the equity investment in La Citadella S.p.A.) and increases of 1.5million (subscription of the capital increase in Antonveneta Assicurazioni S.p.A.).Shareholders' equityAs at 31 December 2007, shareholders' equity including the losses for the year, amounted to 3,516 million euro, which isa 2.8% decrease compared to the 3,618 million euro as at 31 December 2006. The decrease is mainly due to thereduction (87 million euro) of the valuation reserve).The regulatory capital was 3,933 million euro, while Tier 1 capital was approximately 2,972 million euro.NET SHAREHOLDERS' EQUITY(in millions of Euro)4,0003,0003,1833,2843,6183,5162,0002004 2005 2006 2007As regards capital ratios, the ratio between regulatory capital and total weighted assets amounted to 11.4%; in particular,the ratio between Tier 1 capital and total weighted assets was equal to 8.6%.210