UBI Banca Group

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Indirect funding from customers (at market prices) Figures in thousands of euro 31.12.2011 31.12.2010 Change % change Unione di Banche Italiane Scpa 5 14 -9 -64.3% Banca Popolare di Bergamo Spa 24,563,676 24,944,977 -381,301 -1.5% Banco di Brescia Spa 12,893,350 14,849,800 -1,956,450 -13.2% Banca Popolare Commercio e Industria Spa 10,057,784 11,186,686 -1,128,902 -10.1% Banca Regionale Europea Spa 6,842,123 7,267,934 -425,811 -5.9% Banca Popolare di Ancona Spa 3,533,775 3,828,041 -294,266 -7.7% Banca Carime Spa 5,375,500 5,753,026 -377,526 -6.6% Banca di Valle Camonica Spa 1,049,267 1,065,405 -16,138 -1.5% Banco di San Giorgio Spa 1,429,294 1,644,556 -215,262 -13.1% UBI Banca Private Investment Spa 5,003,443 5,420,922 -417,479 -7.7% Banque de Dépôts et de Gestion Sa 835,893 991,880 -155,987 -15.7% Lombarda Vita Spa 5,007,705 5,149,988 -142,283 -2.8% Aviva Assicurazioni Vita Spa 2,121,844 2,305,298 -183,454 -8.0% UBI Pramerica SGR Spa 20,288,875 25,047,354 -4,758,479 -19.0% UBI Banca International Sa 2,904,707 2,971,932 -67,225 -2.3% IW Bank Spa 3,161,568 3,037,925 123,643 4.1% Aviva Vita Spa 4,234,773 4,374,554 -139,781 -3.2% CONSOLIDATED 72,067,569 78,078,869 -6,011,300 -7.7% Assets under management (at market prices) Figures in thousands of euro 31.12.2011 31.12.2010 Change % change Unione di Banche Italiane Scpa - 9 -9 -100.0% Banca Popolare di Bergamo Spa 11,267,911 12,460,373 -1,192,462 -9.6% Banco di Brescia Spa 6,488,943 7,569,511 -1,080,568 -14.3% Banca Popolare Commercio e Industria Spa 4,132,113 4,743,435 -611,322 -12.9% Banca Regionale Europea Spa 3,719,506 4,205,324 -485,818 -11.6% Banca Popolare di Ancona Spa 1,562,412 1,879,189 -316,777 -16.9% Banca Carime Spa 2,894,381 3,688,062 -793,681 -21.5% Banca di Valle Camonica Spa 437,371 513,063 -75,692 -14.8% Banco di San Giorgio Spa 492,037 637,651 -145,614 -22.8% UBI Banca Private Investment Spa 3,659,999 4,073,214 -413,215 -10.1% Banque de Dépôts et de Gestion Sa 835,893 991,880 -155,987 -15.7% Lombarda Vita Spa 5,007,705 5,149,988 -142,283 -2.8% Aviva Assicurazioni Vita Spa 2,121,844 2,305,298 -183,454 -8.0% UBI Pramerica SGR Spa 20,288,875 25,047,354 -4,758,479 -19.0% UBI Banca International Sa 181,843 289,940 -108,097 -37.3% IW Bank Spa 462,063 496,899 -34,836 -7.0% Aviva Vita Spa 4,234,773 4,374,554 -139,781 -3.2% CONSOLIDATED 36,892,042 42,629,553 -5,737,511 -13.5% 163
The performance of the main consolidated companies BANCA POPOLARE DI BERGAMO SPA Figures in thousands of euro 31.12.2011 31.12.2010 Change % change Balance sheet Loans to customers 19,609,764 20,276,206 -666,442 -3.3% Direct funding (*) 19,764,170 20,596,076 -831,906 -4.0% Net interbank debt 1,603,761 2,537,387 -933,626 -36.8% Financial assets held for trading 61,943 51,761 10,182 19.7% Available-for-sale financial assets 20,196 20,795 -599 -2.9% Equity (excluding profit for the year) 2,117,762 2,143,727 -25,965 -1.2% Total assets 25,074,514 24,455,885 618,629 2.5% Indirect funding from customers (including insurance) 24,563,676 24,944,977 -381,301 -1.5% of which: assets under management 11,267,911 12,460,373 -1,192,462 -9.6% Income statement Net interest income 503,565 443,493 60,072 13.5% Dividends and similar income 184 254 (70) (27.6%) Net commission income 316,002 302,214 13,788 4.6% Net income from trading, hedging and disposal/repurchase activities 2,105 9,650 (7,545) (78.2%) Other net operating income/(expense) 21,413 13,311 8,102 60.9% Operating income 843,269 768,922 74,347 9.7% Personnel expense (272,399) (277,279) (4,880) (1.8%) Other administrative expenses (197,029) (204,095) (7,066) (3.5%) Net impairment losses on property, equipment and investment property and intangible assets (7,692) (7,178) 514 7.2% Operating expenses (477,120) (488,552) (11,432) (2.3%) Net operating income 366,149 280,370 85,779 30.6% Net impairment losses on loans (**) (83,114) (96,212) (13,098) (13.6%) Net impairment losses on other assets/liabilities (262) (1,873) (1,611) (86.0%) Net provisions for risks and charges (56) 187 (243) n.s. Profit (loss) on the disposal of equity investments 1,486 (30) 1,516 n.s. Pre-tax profit from continuing operations 284,203 182,442 101,761 55.8% Taxes on income for the year from continuing operations (112,435) (75,723) 36,712 48.5% Profit for the year 171,768 106,719 65,049 61.0% Other information Number of branches 358 365 -7 Total work force (actual employees+personnel on leasing contracts) 3,724 3,779 -55 Financial ratios ROE [profit for the year/equity (excluding profit for the year)] 8.11% 4.98% Cost:income ratio (operating expenses/operating income) 56.58% 63.54% Net non-performing loans/net loans to customers 2.29% 1.74% Net impaired loans/net loans to customers 2.41% 1.87% (*) Inclusive of bonds subscribed by the Parent amounting to €50 million as at 31 st December 2011 (€50 million also as at 31 st December 2010). (**) The item for 2010 included an impairment loss of €1.4 million relating to the Mariella Burani Group. The share capital of Banca Popolare di Bergamo as at 31 st December 2011 was wholly owned by UBI Banca. The year 2011 ended with a profit of €171.8 million, up significantly compared to €106.7 million in 2010 (+€65.1 million; +61%), the result of good performance by net operating profit (+€85.7 million to €366.1 million), with an increase in revenues (+€74.3 million to €843.3 million) and a contraction at the same time in the most significant expense items (-€11.4 million to €477.1 million). Revenues performed as follows: - net interest income reached €503.6 million (+€60.1 million) as a result of favourable market trends for interest rates; 164
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Joint stock co-operative company Re
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▪ Principal risks and uncertainti
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REPORT ON CORPORATE GOVERNANCE AND
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A low risk profile The Group has no
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UBI Banca: company officers Honorar
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UBI Banca Group: the main investmen
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The rating As the sovereign debt cr
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Notice of call 1 An Ordinary Genera
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The macroeconomic scenario In a gen
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Monetary policy action taken by the
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imports (+24.9%) than in exports (+
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permanently balance public accounts
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In the light of the very serious cr
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total of the variable component of
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The “hour glass” shaped distrib
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dynamic use of credit recovery serv
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The contribution of the outstanding
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4 th -7 th July 2011 (offer period
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Action undertaken on the branch net
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Disposal of UBI Pramerica SGR opera
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Finally, the UBI Banca Group increa
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• the “Italian Banking Associat
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- the global financial crisis, whic
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As a result of new loan disbursemen
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Again with regard to financial educ
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As concerns the Foreign-Commercial
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This dialogue with customers is not
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The distribution network and positi
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The Italian distribution network of
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Remote channels Market coverage by
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• private individual customers ca
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Human resources The composition of
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The percentage of part-time employe
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Personnel management policies and i
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• the implementation of the “Va
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editions were published in 2011). A
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15. Barberini Sa (100% controlled)
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Companies consolidated using the eq
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- 22 nd February 2011: UBI Banca de
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total price of €77 million. Conse
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Reclassified consolidated financial
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Reclassified consolidated income st
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Reclassified consolidated income st
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Notes to the reclassified consolida
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marked improvement compared to €8
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elation to higher volumes of busine
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equity investments (including PerMi
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(+0.9%). The changes summarise the
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Brescia and €116.3 million of imp
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- the partial non deductibility of
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The comments that follow are based
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Total funding Total group funding,
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On the other hand, while significan
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In detail, institutional funding wa
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Page 127 and 128: The interbank market and the liquid
Page 129 and 130: Loans to banks: composition Changes
Page 131 and 132: The collateral pool also benefited
Page 133 and 134: Financial assets The year 2011 was
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Page 141 and 142: As concerns, on the other hand, por
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Page 147 and 148: The table below summarises on- and
Page 149 and 150: OTC interest rate derivatives: deta
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Page 171 and 172: BANCA POPOLARE COMMERCIO E INDUSTRI
Page 173 and 174: accounts and deposits and term depo
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Page 177 and 178: BANCA POPOLARE DI ANCONA SPA Figure
Page 179 and 180: under management, which fell overal
Page 181 and 182: million) and the repurchase of own
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Page 185 and 186: principally to new classifications
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Page 189 and 190: IW BANK SPA Figures in thousands of
Page 191 and 192: overdrafts, while the remaining €
Page 193 and 194: y the “Company restructuring prog
Page 195 and 196: UBI PRAMERICA SGR SPA Figures in th
Page 197 and 198: UBI FACTOR SPA Figures in thousands
Page 199 and 200: impaired loans - attributable mainl
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Page 203 and 204: Development Decree - Decree Law No.
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Page 211 and 212: In 2011, UBI Banca obtained visibil
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Legislation on the protection of pe
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• risks defined as measurable, fo
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uncertainty surrounding the outcome
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Compliance of corporate health and
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STATEMENT OF THE CHIEF EXECUTIVE OF
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Certification of the consolidated f
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Independent auditors’ report 226
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228
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Consolidated Balance Sheet
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Consolidated Income Statement figur
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Statement of changes in consolidate
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Consolidated Statement of Cash Flow
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PART A - Accounting policies A.1 -
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Accounting policies The accounting
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The income statement of the investo
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39. UBI Finance Srl Milan euro 10,0
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▪ ▪ ▪ 14 th March 2012: the U
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consequent absence of taxable incom
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List of the main IFRS standards end
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Reg. 1126/2008, SIC 7 Introduction
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1.2. Definition of financial assets
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performance by stock markets rather
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3.4 Derecognition criteria Held-to-
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original loan contract, or in the p
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The methods used for measurement of
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6.3 Measurement criteria Investment
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individual renewals, or if the asse
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An intangible asset is recognised i
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(a) within asset item 120 of the ba
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10.1. Current tax assets and liabil
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might affect the amount required to
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14.3.2 Post-employment benefits and
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Interest is recognised on an accrua
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Level 2 Where no prices are availab
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A.3.2.1 Accounting portfolios: dist
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2.2 Financial assets held for tradi
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3.3. Financial assets at fair value
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4.4 Available-for-sale financial as
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6.2 Loans to banks: assets subject
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- 5 % auto sector; - 3 % aeronautic
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SECTION 10 Equity investments - Ite
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10.3 Annual changes in equity inves
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SECTION 11 Technical reserves of re
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These valuation methods were perfor
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Details of the item “Goodwill”
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13.2 Annual changes in intangible a
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comparable transactions for corpora
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Second level impairment test Becaus
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Cash Generating Unit Increase in th
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No deferred tax assets were recogni
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14.7 Other information The tables a
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15.2 Other information Nothing to r
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SECTION 2 Due to customers - Item 2
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Details of item A.1 “Subordinated
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SECTION 4 Financial liabilities hel
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6.2 Hedging derivatives: compositio
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11.2 Other information The demograp
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demographic tables; the characteri
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Changes in liabilities in 2011 for
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The economic and financial assumpti
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• degree of “innovation” in t
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year, for 2004 the tax authorities
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Banca Carime (2003 and 2004) increa
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15.2 Share capital - Number of shar
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Also, with regard to the conversion
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UBI Leasing SpA + €353 thousand R
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5. Management and intermediation on
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1.4 Interest expense and similar: c
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2.2 Commission expense: composition
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SECTION 6 Income (loss) from dispos
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8.2 Net impairment losses on availa
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SECTION 9 Net premiums - Item 150 9
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SECTION 12 Net provisions for risks
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SECTION 16 Profits (losses) of equi
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SECTION 19 Profits (losses) on disp
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SECTION 21 Post-tax profit after ta
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(v) (vi) (vii) (viii) (ix) (x) on 5
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368
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- AMA) - in combined use with the t
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1.2 Policies for the management of
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- it works with the Rating Desk and
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Credit processes within the network
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Credit risk management policy A pro
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Policy for the distribution of mort
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- pledge. In the case of mortgage c
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Quantitative information A. Credit
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A.1.3 Banking Group - On- and off-b
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A.1.7 Banking Group - On-balance sh
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A.3.1 Banking Group - Guaranteed/se
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B. Distribution and concentration o
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B.3 Banking group - Geographical di
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of a loan portfolio was signed, whi
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• performing loans resulting from
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Orio Finance 3 Originator UBI Banca
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Tabella 7: 190090O|1 - NOTA C.1.6 I
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C.2 Transfers C.2.1 Financial asset
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C.3 Banking Group - Covered bond op
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transferred. Each of these swaps ha
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3. management of the operations. Th
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Subsequently, in November 2011, aft
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D. Banking group - Models for the m
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one day VaR limit for the UBI Group
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Backtesting analysis Backtesting an
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The analysis shows a very heightene
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different hypotheses for the elasti
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2.3 Currency risk Qualitative infor
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2.4 Derivative financial instrument
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A.3 Financial derivatives: gross po
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A.7 OTC financial derivatives: bank
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B. Credit derivatives B.1 Credit de
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The system for the management of li
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Quantitative information 1.1 Distri
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1.3 Distribution over time by resid
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1.5 Distribution over time by resid
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4 BANKING GROUP - OPERATIONAL RISKS
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- Local Operational Risk Support Of
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16031). It must also be underlined
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Quantitative information The graphs
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Operational losses detected in 2011
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B. Quantitative information Informa
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Section 2 - Capital and banking sup
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deductions and negative filters, to
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PART G - Business combination trans
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the consolidated income tax act) co
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Transactions with related parties -
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Principal income statement items wi
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it is calculated on the basis of th
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Distribution by business segment: b
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Assistance activities (risk assessm
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UBI Banca Group

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