UBI Banca Group

mortgages already held on their books to UBI Finance CB 2 for a total of €1.3 billion of the remaining
principal. Banco di Brescia, Banca Popolare di Bergamo, Banca Carime e Banco di San Giorgio will also
make their first transfer with value date of 1 st April 2012 for a total estimated amount of approximately
€1.8 billion.
Funding from bonds issued to ordinary customers amounted to €27.8 billion, essentially
unchanged compared to the previous year (+€0.2 billion), although changes for individual
items were in opposite directions.
More specifically listed bonds issued by UBI Banca destined to network bank customers
reached almost €7 billion, an improvement of €1.8 billion. New placements by the Parent –
nine issuances for a total of €1.9 billion nominal concentrated in the second quarter and
towards the end of the year, including three totalling over €1 billion, with a lower tier two
subordination clause – were used mainly to replace bonds maturing issued through
Centrobanca’s non captive channel (-€0.9 billion) and to a lesser extent network banks issues
that matured (-€0.7 billion).
Maturities of bonds outstanding as at 31st December 2011
Nominal amounts in millions of euro
1st Quarter
2012
2nd Quarter
2012
3rd Quarter
2012
4th Quarter
2012
2013 2014
Subsequent
years
Total
UBI BANCA* 1,542 1,566 799 1,131 4,673 4,413 8,625 22,749
of which: EMTNs 1,500 1,495 70 1,000 3,447 2,234 440 10,186
Covered bonds ** - 11 - 11 51 51 5,615 5,739
Network banks 1,378 1,217 1,183 999 5,562 3,376 2,626 16,341
Other banks in the Group 7 1 5 173 102 431 3,594 4,313
Total 2,927 2,784 1,987 2,303 10,337 8,220 14,845 43,403
* The EMTN subordinated bonds were placed on the date of the maturity or the exercise of a call option. Preference shares have not been included.
** The first half year amortisation, amounting to €11 million, took place in the fourth quarter 2011.
As concerns market segmentation, management accounting figures for end of period volumes
of direct funding for the network banks and for UBI Banca Private Investment show that in
Geographical distribution of direct funding from
customers by region of location of the branch
(excluding repurchase agreements and bonds) (*)
Percentage of total 31.12.2011 31.12.2010
December 76.2% of funding came from the retail
market (77% in December 2010), 10.6% from the
private banking market (10.7%), 9.6% from the
corporate market (9.2%) and 3.6% from institutional
customers (3.1%).
Lombardy 59.14% 59.07%
Latium 8.54% 8.70%
Piedmont 8.02% 7.62%
Apulia 4.71% 4.78%
Calabria 4.50% 4.77%
Marches 3.97% 4.01%
Campania 3.88% 3.88%
Liguria 2.42% 2.49%
Emilia Romagna 1.23% 0.98%
Veneto 1.01% 1.14%
Basilicata 0.95% 1.01%
Umbria 0.52% 0.49%
Abruzzo 0.42% 0.41%
Friuli Venezia Giulia 0.26% 0.25%
Tuscany 0.19% 0.16%
Molise 0.18% 0.20%
Valle d'Aosta 0.03% 0.01%
Trentino Alto Adige 0.02% 0.02%
Sardinia 0.00% 0.01%
Total 100.00% 100.00%
North 72.14% 71.59%
- North West 69.62% 69.19%
- North East 2.52% 2.40%
Central Italy 13.22% 13.36%
South 14.64% 15.05%
In terms of annual changes, those same
management accounting figures show basic stability
for the retail market (-0.8%) and for the main
components of it: -0.4% for private individual
customers and -0.1% for small businesses. No
change was recorded for the private banking
market, while the corporate market improved
(+2.9%), as a result of action taken to improve
funding products for businesses, as did funding
from the institutional market (+16.9%).
The table, “Geographical distribution of direct
funding from customers by region of location of the
branch”, gives the geographical distribution of
traditional funding (consisting of current accounts,
savings deposits and certificates of deposit) in Italy.
The figures show an increase in the already
significant geographical concentration of the Group
in northern regions (up to 72.1% from 71.6% in
2010) and more specifically in the North West where
the network banks have their greatest presence.
(*) The aggregates relate to banks only.
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