UBI Banca Group

BANCA POPOLARE DI ANCONA SPA
Figures in thousands of euro
31.12.2011 31.12.2010 Change
% change
Balance sheet
Loans to customers 7,810,341 7,702,345 107,996 1.4%
Direct funding (*) 6,429,378 6,837,163 -407,785 -6.0%
Net interbank debt -839,437 -209,751 629,686 300.2%
Financial assets held for trading 44,342 25,159 19,183 76.2%
Available-for-sale financial assets 19,740 22,140 -2,400 -10.8%
Equity (excluding profit for the year) 874,448 875,143 -695 -0.1%
Total assets 8,744,167 9,100,755 -356,588 -3.9%
Indirect funding from customers (including insurance) 3,533,775 3,828,041 -294,266 -7.7%
of which: assets under management 1,562,412 1,879,189 -316,777 -16.9%
Income statement
Net interest income 213,559 204,263 9,296 4.6%
Dividends and similar income 1,025 3,757 (2,732) (72.7%)
Net commission income 112,157 105,328 6,829 6.5%
Net income (loss) from trading, hedging and disposal/repurchase activities (1,001) 2,970 (3,971) n.s.
Other net operating income/(expense) 3,140 2,732 408 14.9%
Operating income 328,880 319,050 9,830 3.1%
Personnel expense (126,647) (125,953) 694 0.6%
Other administrative expenses (87,431) (90,704) (3,273) (3.6%)
assets (11,489) (11,980) (491) (4.1%)
Operating expenses (225,567) (228,637) (3,070) (1.3%)
Net operating income 103,313 90,413 12,900 14.3%
Net impairment losses on loans (**) (43,334) (51,481) (8,147) (15.8%)
Net impairment losses on other assets/liabilities 726 955 (229) (24.0%)
Net provisions for risks and charges (1,282) (1,057) 225 21.3%
Profit (loss) on the disposal of equity investments (***) (28,147) 25 (28,172) n.s.
Pre-tax profit from continuing operations 31,276 38,855 (7,579) (19.5%)
Taxes on income for the year from continuing operations (29,000) (20,515) 8,485 41.4%
Profit for the year 2,276 18,340 (16,064) (87.6%)
Other information
Number of branches 238 248 -10
Total work force (actual employees+personnel on leasing contracts) 1,727 1,749 -22
Financial ratios
ROE [profit for the year/equity (excluding profit for the year)] 0.26% 2.10%
Cost:income ratio (operating expenses/operating income) 68.59% 71.66%
Net non-performing loans/net loans to customers 4.35% 3.73%
Net impaired loans/net loans to customers 3.50% 3.29%
(*) The item included bonds as at 31 st December 2010 subscribed by Parent amounting to €352 million.
(**) The item for 2010 included an impairment loss relating to the Mariella Burani Group amounting to €0.9 million.
(***) The figure for 2011 included the effects of the recognition of impairment losses on the investments in UBI Leasing (€16.2 million) and in
Centrobanca (€11.9 million).
As at 31 st December 2011, UBI Banca held 92.934% of the share capital of the Banca Popolare di Ancona,
Aviva Spa held 6.486% and the remaining 0.580% was held by non controlling shareholders.
The year 2011 ended with a profit of €2.3 million (€18.3 million in 2010), affected by losses of
€28.1 million incurred for impairment losses recognised on investments in UBI Leasing (€16.2
million) and Centrobanca (€11.9 million), as a result of impairment tests.
Net of those items, classified as non-recurring, profit amounted to €30.4 million, an increase
compared to the normalised figure for the year before (€21.6 million).
Net operating income recorded growth of 14.3% to €103.3 million, due to the combined effect
of higher operating income (+3.1%) and lower costs (-1.3%).
The main items of income, which amounted to €328.9 million (+€9.8 million), performed as
follows:
- net interest income rose to €213.6 million (+€9.3 million), as a result of an increase in the
contribution from net interest from customers, which benefited from an increase in medium
to long-term loans;
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