Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

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A.1.5Cash exposures to banks: trends in overall value adjustmentsDescription/category Non-performing Potential problem Restructured OverdueA. Adjustments at start of period — (140) — —of which: accounts sold but not derecognized — — — —B. Additions — — — —B.1 value adjustments — — — —B.2 transfers from other categories ofimpaired assets — — — —B.3 other additions — — — —C. Reductions — 140 — —C.1 writebacks based on valuations — — — —C.2 writebacks due to amounts collected — 21 — —C.3 amounts written off — 119 — —C.4 transfers to other categories ofimpaired assets — — — —C.5 other reductions — — — —D. Adjustments at end of period — — — —of which: accounts sold but not derecognized — — — —A.1.6Cash and off-balance-sheet exposures to customers: gross/net valuesType of exposure/amountsGross exposureSpecific valueadjustmentsPortfolio valueadjustmentsNet exposureA. CASH EXPOSURESa) Non-performing 1 540,480 (325,923) X 214,557b) Potential problem 407,271 (174,188) X 233,083c) Restructured 585,773 (160,123) X 425,650d) Overdue 88,747 (15,639) X 73,108e) Other assets 50,124,042 X (253,404) 49,870,638Total A 51,746,313 (675,873) (253,404) 50,817,036B. OFF-BALANCE-SHEET EXPOSURESa) Impaired 102,541 — X 102,541b) Other assets 18,235,334 X — 18,235,334Total B 18,337,875 — — 18,337,875Total (A+B) 70,084,188 (675,873) (253,404) 69,154,9111Includes accounts acquired by third parties as part of Cofactor’s activity.158 –
A.1.7Banking Group – Cash exposures to customers: trends in gross impaired positions/accountsDescription/category Non-performing Potential problem Restructured OverdueA.1 Gross exposure at start of period 688,432 468,025 183,290 107,747of which: accounts sold but not derecognized 29,687 16,895 1,938 3,868B. Additions 416,486 390,548 415,603 49,700B.1 transfers from performing loans 187,776 329,358 352,058 37,989B.2 transfers from other categories ofimpaired assets 192,338 29,342 45,411 2,628B.3 other additions 36,372 31,848 18,134 9,083C. Reductions (564,438) (451,302) (13,120) (68,700)C.1 transfers to performing loans (14,032) (38,655) (1,362) (21,892)C.2 amounts written off (460,343) (18,296) (418) (501)C.3 amounts collected (52,527) (157,185) (6,334) (15,636)C.4 gains realized on disposals (21,705) — — —C.5 transfers to other categories ofimpaired assets (10,797) (228,476) (3,204) (27,239)C.6 other reductions (5,034) (8,690) (1,802) (3,432)D. Gross exposure at end of period 540,480 407,271 585,773 88,747of which: accounts sold but not derecognized 22,891 17,570 2,120 3,511– 159
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DraftAnnual Accounts and Reportas a
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C O N T E N T SConsolidated Account
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Page no.* * *Extraordinary business
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CONSOLIDATED ACCOUNTS
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— Retail and private banking (RPB
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DEVELOPMENTS IN CAPITAL MARKETSIn t
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comparing total assets with tangibl
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The market capitalization of listed
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RESTATED BALANCE SHEET30/6/10 30/6/
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30 June 2010Corporate &InvestmentBa
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Impaired assets (i.e. non-performin
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upward adjustments to reflect amort
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An updated list of the properties o
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12 mths to 30/6/10 12 mths to 30/6/
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Corporate and Investment Banking30
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This division reported a net profit
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Equity investments and AFS shares
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Mediobanca International (Luxembour
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Principal investing12 mths to 30/6/
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Retail and private bankingb12 mths
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A breakdown of this division’s re
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New loans for the twelve months tot
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Private banking30 June 2010CMB Banc
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transmission, investment advice and
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OTHER INFORMATIONRelated party disc
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Reconciliation of shareholders’ e
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AUDITORS’ REPORT
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CONSOLIDATED FINANCIAL STATEMENTS
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Liabilities and net equity30/6/11 3
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CONSOLIDATED COMPREHENSIVE PROFIT A
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STATEMENT OF CHANGES TO NET EQUITY
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RECONCILIATION OF MOVEMENTS IN CASH
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Page no.Part C -Notes to consolidat
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Sectction 3Area and methods of cons
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Section 4Significant accounting pol
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Assets are tested for impairment at
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HedgesThere are two types of hedge:
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and its related value of use, and a
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Staff severance indemnity provision
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Dividends and commissionsThese are
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A.3.2Fair value rankingA.3.2.1 Asse
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A.3.2.3 Annual changes in financial
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Section 2Heading 20: Financial asse
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2.3 Financial assets held for tradi
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4.3 AFS securities: assets subject
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5.2 Assets held to maturity: by bor
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Section 7Heading 70: Due from custo
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Section 8Heading 80: Hedging deriva
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Section 10Heading 100: Equity inves
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The book value of the investment in
Page 104 and 105: Section 12Heading 120: Property, pl
Page 106 and 107: 12.4 Tangible assets held for inves
Page 108 and 109: 13.2 Intangible assets: movements d
Page 110 and 111: 14.4 Changes in deferred tax during
Page 112 and 113: 14.6 Changes in deferred tax during
Page 114 and 115: LiabilitiesSection 1Heading 10: Due
Page 116 and 117: Section 3Heading 30: Debt securitie
Page 118 and 119: Section 6Heading 60: Hedging deriva
Page 120 and 121: Section 11Heading 110: Staff severa
Page 122 and 123: Section 13Heading 130: Technical re
Page 124 and 125: Section 16Heading 210: Net equity a
Page 126 and 127: PART C - NOTES TO CONSOLIDATEDPROFI
Page 128 and 129: Section 2Headings 40 and 50: Net fe
Page 130 and 131: Section 4Heading 80: Net trading in
Page 132 and 133: Section 6Heading 100: Gains (losses
Page 134 and 135: 8.3 Adjustments for impairment to f
Page 136 and 137: Section 10Heading 160: Income less
Page 138 and 139: Section 11Heading 180: Administrati
Page 140 and 141: Section 12Heading 190: 1Net transfe
Page 142 and 143: Section 16Heading 240: Gains (losse
Page 144 and 145: 20.2 Reconciliation between theoret
Page 146 and 147: PART D - CONSOLIDATED COMPREHENSIVE
Page 148 and 149: Corporate banking (Mediobanca)The G
Page 150 and 151: QUANTITATIVE INFORMATIONCREDIT QUAL
Page 152 and 153: A.1.2.a Exposures to sovereign debt
Page 156 and 157: A.1.8Banking Group - cash exposures
Page 158 and 159: A.3 Secured exposures by type of se
Page 160 and 161: B. Loan distribution and concentrat
Page 162 and 163: B.3 Banking Group - cash and off-ba
Page 164 and 165: C. Securitizations and asset dispos
Page 166 and 167: Quantitative informationC.1.1Bankin
Page 168 and 169: C.1.4Banking Group - exposures to s
Page 170 and 171: C.1.7Banking Group - servicing: col
Page 172 and 173: Under the terms of the sale contrac
Page 174 and 175: C.2.2Banking Group - financial liab
Page 176 and 177: QUANTITATIVE INFORMATIONThis year h
Page 178 and 179: Table 2: Value at risk and expected
Page 180 and 181: QUANTITATIVE INFORMATION1. Regulato
Page 182 and 183: Currency of denomination: OTHERType
Page 184 and 185: 1.2.2 INTEREST RATE RISK AND PRICE
Page 186 and 187: the Bank’s various bodies was app
Page 188 and 189: Currency of denomination: US DOLLAR
Page 190 and 191: 2. Regulatory trading book: cash ex
Page 192 and 193: QUANTITATIVE INFORMATION1. Assets,
Page 194 and 195: A.2.A.2.1Banking book: average and
Page 196 and 197: A.3 OTC financial derivatives: posi
Page 198 and 199: A.5 OTC financial derivatives: trad
Page 200 and 201: A.7 OTC financial derivatives: bank
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B.2 OTC credit derivatives: gross p
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1.3 BANKING GROUP: LIQUIDITY RISKQU
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Currency of denomination: US DOLLAR
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1.4 BANKING GROUP - OPERATING RISKQ
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PART F - INFORMATION ON CONSOLIDATE
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B.3 AFS valuation reserves: movemen
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2.2 Regulatory capital requirements
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B. Quantitative informainformationC
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credit as to €3.6m and credit car
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Situation at 30 June 2011Directors,
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Subsequent to the reporting date, o
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PART L - SEGMENT REPORTINGA. PRIMAR
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B. SECONDARY SEGMENT REPORTINGB.1 P
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ANNUALGENERALMEETING28 OCTOBER 2011
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Ordinary businessACCOUNTS OF THE BA
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Provisions for financial assets inc
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RESTATED BALANCE SHEET 30/6/10 30/6
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Loans and advances to Group compani
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Cash and bank balances include €1
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current prices). Further explanatio
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— Furniture and intangible assets
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Net fee and commission incomeThis h
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— the court of appeals in Milan h
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esearch project on medium-sized Eur
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Declaration in respect of individua
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STATUTORY AUDIT COMMITTEE’S REPOR
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vii)Finance Act, in the course of w
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Type of serviceRecontaErnst & Young
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The Statutory Audit Committee ascer
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AUDITORS’ REPORT
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INDIVIDUAL FINANCIAL STATEMENTS *(*
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Liabilities and net equity30/6/11 3
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COMPREHENSIVE PROFIT AND LOSS ACCOU
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STATEMENT OF CHANGES TO MEDIOBANCA
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RECONCILIATION OF MOVEMENTS IN CASH
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Page no.Part C - Notes to profit an
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Section 3Significant accounting pol
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Assets are tested for impairment at
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- cash flow hedges, which are inten
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Goodwill may be recognized where th
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All actuarial profits and/or losses
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Related parties (IAS 24)In accordan
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A.3.2A.3.2.1Fair value rankingAsset
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A.3.2.3 Annual changes in financial
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Section 2Heading 20: Financial asse
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2.3 Financial assets held for tradi
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4.4 AFS securities: movements durin
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Section 6Heading 60 - Due from bank
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7.2 Due from customers: by borrower
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Section 10Heading 100: Equity inves
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Significant data 1Total assetsTotal
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Section 11Heading 110: Property pla
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11.4 Tangible assets held for inves
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12.2 Core intangible assets: moveme
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13.4 Changes in deferred tax during
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Section 15Heading 150: Other assets
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Section 3Heading 30: Debt securitie
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Section 6Heading 60: Hedging deriva
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Section 11Heading 110: Staff severa
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14.2 Share capital: changes in no.
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Other information1. Guarantees and
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PART C - NOTES TO PROFIT AND LOSS A
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Section 2Headings 40 and 50: Net fe
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Section 3Heading 70: Dividends and
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Section 5Heading 90: Net hedging in
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Section 8Heading 130: Adjustments f
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Section 9Heading 150: Administrativ
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Section 11Heading 170: Net adjustme
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Section 17Heading 240: Net gain (lo
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PART D - COMPREHENSIVE PROFIT AND L
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1. General aspectsThe Bank’s inte
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A.1.2 Financial assets by portfolio
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A.1.2. b Exposures to sovereign deb
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A.1.6 Cash and off-balance-sheet ex
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A.3 Secured exposures by type of se
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B. Loan distribution and concentrat
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B.3 Cash and off-balance-sheet expo
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C. Securitizations and asset dispos
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Quantitative informationC.1.1Exposu
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C.1.4 Exposures to securitizations
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C.2 Asset disposalsC.2.1 Financial
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Section 2Market risk2.1 INTEREST RA
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Table 1 - Value at risk and expecte
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Trend in VaR constituents The
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2.1 Regulatory trading book: cash e
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HedgingFair value hedgesFair value
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2. Banking book: cash exposures of
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2.4 FINANCIAL DERIVATIVE PRODUCTSA.
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A.2.2Other derivativesType of trans
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A.4 Financial derivatives: negative
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A.6 OTC financial derivatives: trad
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A.8 OTC financial derivatives: bank
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B. CREDIT DERIVATIVESB.1 Credit der
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C. CREDIT AND FINANCIAL DERIVATIVES
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indicator generated for the Bank of
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Section 4Operating riskDefinitionOp
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B.2 AFS valuation reserves: composi
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A. QUALITATIVE INFORMATIONTier 1 ca
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PART H - RELATED PARTY DISCLOSURE1.
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BENEFICIAL INTEREST OF BOARD MEMBER
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Situation at 30 June 2011Groupcompa
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Subsequent to the reporting date, o
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ANNEXES
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Liabilities and net equityIAS-compl
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MEDIOBANCA S.p.A. BALANCE SHEET *As
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MEDIOBANCA S.p.A. PROFIT AND LOSS A
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BANKS AND FINANCIAL COMPANIES (IAS/
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BANKSTABLE B (cont.)BALANCE SHEETSC
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OTHER GROUP COMPANIESTABLE B (cont.
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OTHER FINANCIAL COMPANIES (IAS/IFRS
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OTHER FINANCIAL COMPANIES (IAS/IFRS
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OTHER NON-FINANCIAL UNDERTAKINGS (I
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OTHER NON-FINANCIAL UNDERTAKINGS (I
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OTHERS (IAS/IFRS)TABLE B (cont.)462
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ASSOCIATE COMPANIESTABLE CBALANCE S
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ASSOCIATE COMPANIES TABLE C (cont.
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OTHER ASSOCIATED UNDERTAKINGSTABLE
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TABLE DSIGNIFICANT EQUITY INVESTMEN
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TABLE D (cont.)Sharecapital€mPar
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APPOINTMENT OF MEMBERS OF BOARD OF
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APPOINTMENT OF MEMBERS AND CHAIRMAN
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REPORT ON STAFF REMUNERATION POLICI
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. Criteria for calculation of bonus
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Restrictions have also been introdu
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ANNEXThe tables below shows the str
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II. Organizational governanceThe pr
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The typical components of remunerat
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- appraisal of the Mediobanca share
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the Bank, valuation criteria linked
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At a Board meeting held on 24 June
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l. Other informationCaps on variabl
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- in the area of related parties, t
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compliance with the terms and proce
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SECTION IIIGeneral MeetingsArticle
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general meeting or otherwise requir
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specified in the notice of general
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eing replaced had been elected from
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3) decisions concerning the acquisi
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transaction concerned, either thems
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Article 17, paragraph 2, points 3 a
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for its operations and the size of
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specifically designated by the Boar
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The proposals for appointments are
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Article 29The Statutory Audit Commi
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AUTHORIZATION TO THE BOARD OF DIREC
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The share capital may also be incre
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The Board of Directors is also auth
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ANNUAL STATEMENT SON CORPORATE GOVE
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At a general meeting held on 28 Oct
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Persons authorized to take part and
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All the Directors have made stateme
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DIRECTORSIRECTORS’ AND STRATEGIC
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With reference to risk management,
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Appointments committeeAppointments
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The Executive Committee is currentl
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HEAD OF COMPANY FINANCIAL REPORTING
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- expresses its opinion on the appo
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INTERNAL DEALINGThe Directors of Me
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In performing his duties, the head
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RISK MANAGEMENT AND INTERNAL ICONTR
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Table 1: BOARD OFMember ****OARD OF
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Table 3:3: OTHER REQUIREMENTS UNDER
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NamePosition held inMediobancaPosts
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NamePosition held inMediobancaPosts
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Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

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