UBI Banca Group
UBI Banca Group
UBI Banca Group
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
BANCA POPOLARE COMMERCIO E INDUSTRIA SPA<br />
Figures in thousands of euro<br />
31.12.2011 31.12.2010 Change<br />
% change<br />
Balance sheet<br />
Loans to customers 8,563,354 8,885,600 -322,246 -3.6%<br />
Direct funding (*) 7,496,973 8,175,503 -678,530 -8.3%<br />
Net interbank debt -139,265 253,106 -392,371 n.s.<br />
Financial assets held for trading 41,756 32,731 9,025 27.6%<br />
Available-for-sale financial assets 10,366 19,314 -8,948 -46.3%<br />
Equity (excluding profit for the year) 1,159,664 1,159,451 213 0.0%<br />
Total assets 9,819,351 10,129,982 -310,631 -3.1%<br />
Indirect funding from customers (including insurance) 10,057,784 11,186,686 -1,128,902 -10.1%<br />
of which: assets under management 4,132,113 4,743,435 -611,322 -12.9%<br />
Income statement<br />
Net interest income 216,731 197,832 18,899 9.6%<br />
Dividends and similar income - 2 (2) (100.0%)<br />
Net commission income 137,313 134,274 3,039 2.3%<br />
Net loss from trading, hedging and disposal/repurchase activities (832) (2,145) (1,313) (61.2%)<br />
Other net operating income/(expense) (**) 3,868 7,791 (3,923) (50.4%)<br />
Operating income 357,080 337,754 19,326 5.7%<br />
Personnel expense (127,136) (137,261) (10,125) (7.4%)<br />
Other administrative expenses (106,440) (116,059) (9,619) (8.3%)<br />
Net impairment losses on property, equipment and investment property and intangible assets (7,097) (6,122) 975 15.9%<br />
Operating expenses (240,673) (259,442) (18,769) (7.2%)<br />
Net operating income (loss) 116,407 78,312 38,095 48.6%<br />
Net impairment losses on loans (***) (25,220) (30,827) (5,607) (18.2%)<br />
Net impairment losses on other assets/liabilities (888) (13) 875 n.s.<br />
Net provisions for risks and charges (2,134) (2,718) (584) (21.5%)<br />
Profit on the disposal of equity investments (2) (20) (18) (90.0%)<br />
Pre-tax profit from continuing operations 88,163 44,734 43,429 97.1%<br />
Taxes on income for the year from continuing operations (38,153) (22,820) 15,333 67.2%<br />
Profit for the year 50,010 21,914 28,096 128.2%<br />
Other information<br />
Number of branches 235 234 1<br />
Total work force (actual employees+personnel on leasing contracts) 1,713 1,756 -43<br />
Financial ratios<br />
ROE [profit for the year/equity (excluding profit for the year)] 4.31% 1.89%<br />
Cost:income ratio (operating expenses/operating income) 67.40% 76.81%<br />
Net non-performing loans/net loans to customers 3.60% 2.96%<br />
Net impaired loans/net loans to customers 2.15% 2.53%<br />
(*) The item included bonds as at 31 st December 2010 subscribed by the Parent amounting to €181 million.<br />
(**) The item included approximately one million euro in 2010 as the price received for the sale to RBC Dexia of the correspondence banking<br />
operations and €1.7 million of amounts recovered following the bankruptcy of a counterparty.<br />
(***) The item for 2010 included an impairment loss relating to the Mariella Burani <strong>Group</strong> amounting to €1.6 million.<br />
As at 31 st December 2011, <strong>UBI</strong> <strong>Banca</strong> held 75.0769% of the share capital of <strong>Banca</strong> Popolare Commercio, the<br />
<strong>Banca</strong> del Monte di Lombardia Foundation held 16.2369% and the remaining 8.6862% was held by Aviva<br />
Spa.<br />
The Bank ended the year with a profit of €50 million, a more than twofold increase compared<br />
to €21.9 million earned in 2010.<br />
Net operating income amounted to €116.4 million (+€38.1 million compared to 2010), the<br />
result of both an increase in operating income (+6% to €357.1 million) and the containment of<br />
costs (-7.2% to €240.7 million).<br />
The performance by operating income (+€19.3 million) was driven primarily by net interest<br />
income, up from €197.8 million to €216.7 million, which benefited from growth in interest rate<br />
spreads and also from greater volumes of medium to long-term lending business.<br />
Net commission income also made a positive contribution, although to a more moderate<br />
extent, rising from €134.3 million to €137.3 million, as a result of contributions from “foreign<br />
business”, “collection and payment services” and “current account management”.<br />
Trading and hedging activity recorded a net loss of €0.8 million (a loss of €2.1 million at the<br />
end of 2010), as it continued to be affected by the negative impact of hedges on fixed rate<br />
170