UBI Banca Group

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Joint stock co-operative company Registered office: Bergamo, Piazza Vittorio Veneto 8 Operating offices: Bergamo, Piazza Vittorio Veneto 8; Brescia, Via Cefalonia 74 Member of the Interbank Deposit Protection Fund and the National Guarantee Fund Tax Code, VAT No. and Bergamo Company Registration No. 03053920165 ABI (Italian Banking Association) 3111.2 Register of Banks No. 5678 Register of banking groups No. 3111.2 Parent of the Unione di Banche Italiane Banking Group Share capital as at 31 st December 2011: euro 2,254,366,897.50 fully paid up www.ubibanca.it
Contents Letter from the chairmen ........................................................................................................ 5 UBI Banca: company officers .................................................................................................. 8 UBI Banca Group: branch network as at 31 st December 2011 ...................................................... 9 UBI Banca Group: the main investments as at 31 st December 2011 ............................................ 10 UBI Banca Group: principal figures and performance indicators .................................................. 12 The rating ............................................................................................................................................. 13 Notice of call ........................................................................................................................................ 15 CONSOLIDATED FINANCIAL STATEMENTS OF THE UBI BANCA GROUP AS AT AND FOR THE YEAR ENDED 31 ST DECEMBER 2011 CONSOLIDATED MANAGEMENT REPORT ............................................................................................ 18 ▪ The macroeconomic scenario ....................................................................................................... 19 ▪ Significant events that occurred during the year ....................................................................... 30 ▪ Commercial activity ........................................................................................................... 42 ▪ The distribution network and market positioning ..................................................................... 57 ▪ Human resources ......................................................................................................................... 65 ▪ The consolidation scope ................................................................................................................ 74 ▪ Reclassified consolidated financial statements, reclassified income statement net of the most significant non-recurring items and reconciliation schedules ..................... 83 - Reclassified consolidated balance sheet ..................................................................................... 83 - Reclassified consolidated quarterly balance sheets ..................................................................... 84 - Reclassified consolidated income statement ............................................................................... 85 - Reclassified consolidated quarterly income statements ............................................................... 86 - Reclassified consolidated income statement net of the most significant non-recurring items ................................................................................................................... 87 - Reconciliations schedules .......................................................................................................... 88 - Notes to the reclassified consolidated financial statements ......................................................... 89 ▪ The consolidated income statement ............................................................................................ . 90 ▪ General banking business with customers: funding ................................................................. 103 - Funding policies ........................................................................................................................ 103 - Total funding ............................................................................................................................. 105 - Direct funding ........................................................................................................................... 106 - Indirect funding and assets under management ......................................................................... 112 ▪ General banking business with customers: lending .................................................................. . 115 - Performance of the loan portfolio ............................................................................................... 115 - Risk .......................................................................................................................................... 121 ▪ The interbank market and the liquidity situation ...................................................................... 126 ▪ Financial assets ............................................................................................................................. . 132 ▪ Equity and capital adequacy ........................................................................................................ 151 ▪ Reasearch & Development ............................................................................................................ . 155 ▪ The system of internal control ................................................................................................... 156 ▪ Transactions with related parties ...................................................................................... 157 ▪ Consolidated companies: the principal figures ................................................................... 160 ▪ The performance of the main consolidated companies ....................................................... 164 ▪ Other information ............................................................................................................. 199 - Treasury shares ......................................................................................................................... 199 - Litigation ................................................................................................................................... 199 - Inspections ................................................................................................................................ 200 - Tax aspects ............................................................................................................................... 201 - Investor relations and external communication .......................................................................... 209 - Social and environmental responsibility ..................................................................................... 211 - Legislation on the protection of personal data ............................................................................ 214 1
Page 4 and 5: ▪ Principal risks and uncertainti
Page 6 and 7: REPORT ON CORPORATE GOVERNANCE AND
Page 8 and 9: A low risk profile The Group has no
Page 10 and 11: UBI Banca: company officers Honorar
Page 12: UBI Banca Group: the main investmen
Page 15 and 16: The rating As the sovereign debt cr
Page 17 and 18: Notice of call 1 An Ordinary Genera
Page 21 and 22: The macroeconomic scenario In a gen
Page 23 and 24: Monetary policy action taken by the
Page 25 and 26: imports (+24.9%) than in exports (+
Page 27 and 28: permanently balance public accounts
Page 29 and 30: In the light of the very serious cr
Page 31 and 32: total of the variable component of
Page 33 and 34: The “hour glass” shaped distrib
Page 35 and 36: dynamic use of credit recovery serv
Page 37 and 38: The contribution of the outstanding
Page 39 and 40: 4 th -7 th July 2011 (offer period
Page 41 and 42: Action undertaken on the branch net
Page 43 and 44: Disposal of UBI Pramerica SGR opera
Page 45 and 46: Finally, the UBI Banca Group increa
Page 47 and 48: • the “Italian Banking Associat
Page 49 and 50: - the global financial crisis, whic
Page 51 and 52: As a result of new loan disbursemen
Page 53 and 54:
Again with regard to financial educ
Page 55 and 56:
As concerns the Foreign-Commercial
Page 57 and 58:
This dialogue with customers is not
Page 59 and 60:
The distribution network and positi
Page 61 and 62:
The Italian distribution network of
Page 63 and 64:
Remote channels Market coverage by
Page 65 and 66:
• private individual customers ca
Page 67 and 68:
Human resources The composition of
Page 69 and 70:
The percentage of part-time employe
Page 71 and 72:
Personnel management policies and i
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• the implementation of the “Va
Page 75 and 76:
editions were published in 2011). A
Page 77 and 78:
15. Barberini Sa (100% controlled)
Page 79 and 80:
Companies consolidated using the eq
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- 22 nd February 2011: UBI Banca de
Page 83 and 84:
total price of €77 million. Conse
Page 85 and 86:
Reclassified consolidated financial
Page 87 and 88:
Reclassified consolidated income st
Page 89 and 90:
Reclassified consolidated income st
Page 91 and 92:
Notes to the reclassified consolida
Page 93 and 94:
marked improvement compared to €8
Page 95 and 96:
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
Page 105 and 106:
The comments that follow are based
Page 107 and 108:
Total funding Total group funding,
Page 109 and 110:
On the other hand, while significan
Page 111 and 112:
In detail, institutional funding wa
Page 113 and 114:
The public tender offer to purchase
Page 115 and 116:
As concerns mutual investment funds
Page 117 and 118:
General banking business with custo
Page 119 and 120:
The ratio of lending to funding in
Page 121 and 122:
The change recorded was caused by a
Page 123 and 124:
unsecured non-performing loans (€
Page 125 and 126:
Loans to customers: changes in dete
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
Page 135 and 136:
- the Centrobanca corporate bond po
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Financial instruments held for trad
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Financial liabilities held for trad
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As concerns, on the other hand, por
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Exposures to some types of products
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SPE underlying assets Figures in mi
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The table below summarises on- and
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OTC interest rate derivatives: deta
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OTC derivatives: first five counter
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Fair value reserves of available-fo
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illion) and on the other hand for t
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The system of internal control The
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from the scope of the regulations f
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Consolidated companies: the princip
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Direct funding from customers Figur
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The performance of the main consoli
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exposures secured by real estate pr
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million) and other services (+€5.
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BANCA POPOLARE COMMERCIO E INDUSTRI
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accounts and deposits and term depo
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- net interest income reached €16
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BANCA POPOLARE DI ANCONA SPA Figure
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under management, which fell overal
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million) and the repurchase of own
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CENTROBANCA SPA Figures in thousand
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principally to new classifications
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- the net result for financial acti
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IW BANK SPA Figures in thousands of
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overdrafts, while the remaining €
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y the “Company restructuring prog
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UBI PRAMERICA SGR SPA Figures in th
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UBI FACTOR SPA Figures in thousands
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impaired loans - attributable mainl
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managers of Banca Popolare Commerci
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Development Decree - Decree Law No.
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‐ the tax treatment of provisions
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a different criterion is used to ca
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Further details of tax inspections
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In 2011, UBI Banca obtained visibil
Page 213 and 214:
meetings with representatives of bo
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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
Page 221 and 222:
Compliance of corporate health and
Page 223 and 224:
STATEMENT OF THE CHIEF EXECUTIVE OF
Page 225 and 226:
Certification of the consolidated f
Page 227 and 228:
Independent auditors’ report 226
Page 229 and 230:
228
Page 231 and 232:
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
Page 313 and 314:
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
Page 333 and 334:
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
Page 341 and 342:
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
Page 459 and 460:
PART G - Business combination trans
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the consolidated income tax act) co
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Transactions with related parties -
Page 465 and 466:
Principal income statement items wi
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it is calculated on the basis of th
Page 469 and 470:
Distribution by business segment: b
Page 471:
Assistance activities (risk assessm
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UBI Banca Group

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