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

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LIMITED COMPANYSHARE CAPITAL € 430,564,606HEAD OFFICE: PIAZZETTA ENRICO CUCCIA 1, MILAN, ITALYRegistered as a Bank. Parent Company of the Mediobanca Banking GroupAnnual General Meeting28 October 2011
Page 1: DraftAnnual Accounts and Reportas a
Page 5 and 6: Page no.Statutory Auditors’ Repor
Page 7 and 8: BOARD OF DIRECTORSTermexpires* RENA
Page 10 and 11: Costs continued to increase, up 6.6
Page 12 and 13: - amendments to the company’s Art
Page 14 and 15: totalled €2.2bn, as against €0.
Page 16 and 17: In the twelve months ended 1 April
Page 18: The real estate market in 2010 was
Page 21 and 22: BALANCE-SHEET/PROFITSHEET/PROFIT-AN
Page 23 and 24: BALANCE SHEETThe main balance-sheet
Page 25 and 26: * Percentage of entire share capita
Page 27 and 28: 44% of the fixed-income portfolio c
Page 29 and 30: PROFIT AND LOSS ACCOUNTNet interest
Page 31 and 32: Balance-sheet/profitsheet/profit-an
Page 33 and 34: Corporate and Investment Banking30
Page 35 and 36: Germany (8%). At the reporting date
Page 37 and 38: eduction in the equity capital mark
Page 39 and 40: Palladio executed 2,326 leases duri
Page 41 and 42: equity funds recognized in the AFS
Page 43 and 44: The year ended 30 June 2011 shows a
Page 45 and 46: Retail and private banking30 June 2
Page 47 and 48: Private banking30 June 2011CMB Banc
Page 49 and 50: The company employs a total of 1,16
Page 51 and 52: — Banca Esperia S.p.A., Milan (pr
Page 53 and 54:
its banking business, as assessed i
Page 55 and 56:
Declaration in respect of consolida
Page 57 and 58:
- 59
Page 59 and 60:
CONSOLIDATED BALANCE SHEET *Assets3
Page 61 and 62:
CONSOLIDATED PROFIT AND LOSS ACCOUN
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STATEMENT OF CHANGES TO NET EQUITYP
Page 65 and 66:
CONSOLIDATED CASH FLOW STATEMENTDir
Page 67 and 68:
NOTES TO THE ACCOUNTSPage no.Part A
Page 69 and 70:
PART A - ACCOUNTING POLICIESSectcti
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1. Subsidiaries and jointly-control
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AFS assets are initially recognized
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the exposure. Cash flows from loans
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Equity investmentsThis heading cons
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Assets or groups of assets which ar
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Tax assets and liabilitiesIncome ta
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PART A.3 - INFORMATION ON FAIR VALU
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A.3.2.2 Annual changes in financial
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PART B - NOTES TOCONSOLIDATED BALAN
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2.2 Financial assets held for tradi
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4.2 AFS securities: by borrower/iss
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4.4 AFS securities: movements durin
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Section 6Heading 60 - Due from bank
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7.3 Due from customers: assets subj
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8.2 Hedging derivatives: by portfol
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10.2 Investments in subsidiaries, j
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10.3 Equity investments: movements
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12.3 Core tangible assets: movement
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Section 13Heading 130: Intangible a
Page 109 and 110:
Section 14Asset heading 140 and Lia
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14.5 Changes in advance tax during
Page 113 and 114:
Section 16Heading 160: Other assets
Page 115 and 116:
Section 2Heading 20: Due to custome
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Section 4Heading 40: Trading liabil
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Section 8Heading 80 - Deferred liab
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12.2 Provisions: movements during t
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15.2 Share capital: changes in no.
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2. Assets pledged as collateral for
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1.3 Interest and similar income: ot
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2.2 Fee and commission expense: com
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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 150:1Net premium i
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10.3 Breakdown of sub-heading “Cl
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11.2 Average number of staff by cat
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Section 14Heading 210: Net adjustme
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Section 19Heading 270: Net gain (lo
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Section 22Heading 330: Net profit (
Page 147 and 148:
PART E - INFORMATION ON RISKS ANDRE
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Consumer credit (Compass)Applicatio
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A.1.2Financial assets by portfolio/
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A.1.3Banking Group - cash and off-b
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A.1.7Banking Group - Cash exposures
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A.2 Exposures by internal and exter
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A.3.2 Banking Group - secured cash
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B.2 Banking Group - cash and off-ba
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B.4.a Credit risk indicatorsa) Gros
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loans (Bpm Securitisation Srl, €4
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C.1.3 Banking Group - exposures der
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C.1.5 Banking Group - total amount
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Since the reporting date, a third d
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C.2 Asset disposalsC.2.1 Banking Gr
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1.2 BANKING GROUP - MARKET RISK1.2.
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Table 1 - Value at risk and expecte
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Trends in VaR constituents Al
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Currency of denomination: US DOLLAR
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2. Regulatory trading book: cash ex
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minus last year). As is the case wi
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QUANTITATIVE INFORMATION1. Banking
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Currency of denomination: OTHERType
Page 191 and 192:
1.2.3 EXCHANGE RATE RISKQUALITATIVE
Page 193 and 194:
1.2.4FINANCIAL DERIVATIVE PRODUCTSA
Page 195 and 196:
A.2.2Other derivativesType of trans
Page 197 and 198:
A.4 Financial derivatives: negative
Page 199 and 200:
A.6 OTC financial derivatives: trad
Page 201 and 202:
A.8 OTC financial derivatives: bank
Page 203 and 204:
B. CREDIT DERIVATIVESB.1 Credit der
Page 205 and 206:
B.4 OTC credit derivatives: gross p
Page 207 and 208:
C. CREDIT AND FINANCIAL DERIVATIVES
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1. Financial assets and liabilities
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Currency of denomination: OTHERItem
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1.5 BANKING GROUP - OTHER RISKSQUAL
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B.2 AFS valuation reserves: composi
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Section 2REGULATORY AND SUPERVISORY
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B. Quantitativuantitative e informa
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PART G - COMBINATIONS INVOLVING GRO
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PART H - RELATED PARTY DISCLOSURE1.
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PART I - SHARE-BASED PAYMENT SCHEME
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B. QUANTITATIVE INFORMATION1. Chang
Page 229 and 230:
A.2 Balance-sheet data by business
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B.2 Balance-sheet data by geograohi
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AGENDAOrdinary business1. Financial
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REVIEW OF OPERATIONSOVERVIEWIn the
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FINANCIAL HIGHLIGHTSThe profit and
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REVIEW OF KEY ITEMSLoans and advanc
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Funding30/6/10 30/6/11€m €mDepo
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Equity investmentsPercentageshareho
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valuation reserve was in negative t
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The number of treasury shares held
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Loan loss provisionsLoan loss provi
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— approval of the ICAAP procedure
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Proposed allocation of profit for t
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STATUTORY AUDIT COMMITTEE’S REPOR
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committee was instituted. The Statu
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monitoring the initiatives being im
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272 -confirmed that the various met
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- authorization to the Board of Dir
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- 277
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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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STATEMENT OF CHANGES TO AVERAGE MED
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MEDIOBANCA CASH FLOW STATEMENTDirec
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NOTES TO THE ACCOUNTSPage no.Part A
Page 277 and 278:
PART A - ACCOUNTING POLICIESSection
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AFS assets are initially recognized
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take account of anticipated collect
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All of these categories are stated
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Payables, debt securities in issue
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Advance tax assets are recognized i
Page 289 and 290:
PART A.3 - INFORMATION ON FAIR VALU
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A.3.2.2 Annual changes in financial
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PART B - NOTES TO BALANCE SHEET *Se
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2.2 Financial assets held for tradi
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4.2 AFS securities: by borrower/iss
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5.2 Financial assets held to maturi
Page 301 and 302:
Section 7Heading 70: Due from custo
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Section 8Heading 80: Hedging deriva
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10.2 Investments in subsidiaries, j
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— the time horizon of the investm
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11.3 Core tangible assets: movement
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Section 12Heading 120: Intangible a
Page 313 and 314:
Section 13Asset heading 130 and Lia
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13.6 Changes in deferred tax during
Page 317 and 318:
LiabilitiesSection 1Heading 10: Due
Page 319 and 320:
Section 4Heading 40: Trading liabil
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Section 8Heading 80 - Deferred liab
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12.4 Other provisionsPost-employmen
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14.3 Regulatory capital requirement
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4. Assets managed and traded on beh
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1.3 Interest and similar income: ot
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2.2 Fee and commission income: by p
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Section 4Heading 80: Net trading in
Page 335 and 336:
Section 6Heading 100: Gains (losses
Page 337 and 338:
8.3 Adjustments for impairment to f
Page 339 and 340:
9.2 Average number of staff by cate
Page 341 and 342:
Section 13Heading 130: Other operat
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18.2 Reconciliation between theoret
Page 345 and 346:
PART E - INFORMATION ON RISKS ANDRE
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QUANTITATIVE INFORMATIONA.A. CREDIT
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A.1.2. a Exposures to sovereign deb
Page 351 and 352:
A.1.4 Cash exposures to banks: tren
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A.1.8 Cash exposures to customers:
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A.3.2 Secured impaired cash exposur
Page 357 and 358:
B.2 Cash and off-balance-sheet expo
Page 359 and 360:
B.4 Large risks30/6/11 30/6/10a) Bo
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total approx. €32.1m, and chiefly
Page 363 and 364:
C.1.3 Exposures deriving from main
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C.1.5 Total amount of securitized a
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C.2.2 Financial liabilities in resp
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QUANTITATIVE INFORMATIONThis year h
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Table 2: Value at risk and expected
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1. Regulatory trading book: by outs
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Currency of denomination: OTHERSTyp
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2.2 INTEREST RATE AND PRICE RISK -
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QUANTITATIVE INFORMATION1. Banking
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2.3 EXCHANGE RATE RISKRisks derivin
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A.2 Banking book: average and repor
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A.3 Financial derivatives: positive
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A.5 OTC financial derivatives: trad
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A.7 OTC financial derivatives: bank
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A.9 OTC financial derivatives by ma
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Page 397 and 398:
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Section 3Liquidity riskQUALITATIVE
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1. Financial assets and liabilities
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PART F - INFORMATION ON CAPITALSect
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Section 2Regulatory and supervisory
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2.3 Capital adequacyA. QUALITATIVE
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STOCK OPTIONS GRANTED TO DIRECTORS,
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2. Related party disclosureAt a Boa
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PART I - SHARE-BASED PAYMENT SCHEME
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B. QUALITATIVE INFORMATION1. Change
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AssetsCONSOLIDATED BALANCE SHEET (I
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CONSOLIDATED PROFIT AND LOSS ACCOUN
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Liabilities and net equityIAS-compl
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TABLE AASSET REVALUATION STATEMENT
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BANKS AND FINANCIAL COMPANIES (IAS/
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BANKSTABLE B (cont.)PROFIT AND LOSS
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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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OTHERS (IAS/IFRS)TABLE B (cont.)BAL
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OTHERS (IAS/IFRS)TABLE B (cont.)PRO
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ASSOCIATE COMPANIESTABLE C (cont.)A
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OTHER ASSOCIATED UNDERTAKINGSTABLE
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OTHER ASSOCIATED UNDERTAKINGSPROFIT
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TABLE D (cont.)Sharecapital€mPar
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FEES PAID FOR AUDITING AND SUNDRY O
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In the event of just one list being
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In the event of only one list being
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The main updates to the remuneratio
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At the Group level the following re
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e. Holding period for deferred bonu
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B)B) NEW STAFF REMUNERATION N POLIC
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GroupMediobanca identificationNo. o
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d. Correlation between remuneration
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e. Structure of variable componentT
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g. Performance share schemeIn conne
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j. Remuneration structure for non-e
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Extraordinary businessPROPOSAL TO A
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MEDIOBANCA ARTICLES OF ASSOCIATIONE
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nominal amount of up to Euro 2bn to
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Shareholders authorized to attend a
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SECTION IVManagementArticle 13The B
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candidates may only feature in one
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Article 16Meetings of the Board of
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ii)Directors have left office, for
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Directors who are also part of the
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the Board of Directors, Managing Di
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him and to ensure that the administ
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shareholders’ possession at the d
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submitted is appointed as Chairman
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TITOLO VIIFinancial Year and Balanc
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hereby resolve:1. to rescind, in re
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one or more tranches by and no late
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ANNUAL STATEMENT ON CORPORATE GOVER
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SHARE CAPITAL AND OWNERSHIPThe Bank
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GLI ORGANI SOCIALI- Shareholders in
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The Board of Directors appointed on
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5) appointment and dismissal of the
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The Chairman is responsible for ens
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Remunerations committeeIndependent
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EXECUTIVE COMMITTEE: ROLE AND COMPO
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The Board of Directors establishes
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provide that lists may only be subm
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As part of their duties, the Statut
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ORGANIZATION MODEL INSTITUTED PURSU
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The compliance unit reports to the
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Any gaps that emerge from the testi
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Table 2: STATUTORYTATUTORY AUDITCOM
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Annex - Posts held in other financi
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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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