UBI Banca Group

Consolidated Statement of Cash Flows (Indirect method)
Figures in thousands of euro 2011 2010
A. OPERATING ACTIVITIES
1. Ordinary activities 654,177 84,058
- profit (los s) for the year (+/-) (1,841,488) 172,121
- gains/losses on financial assets held for trading and on financial assets/liabilities at fair value ( 28,138 50,222
- gains/losses on hedging activities (-/+) (8,938) (67,209)
- net impairment losses on loans (+/-) 742,221 756,653
- net impairment losses on plant, equipment and investment property and intangible assets (+/-) 2,657,343 240,338
- net provisions for risks and charges and other expense/income (+/-) 31,595 32,381
- net premiums not received (-) - -
- other insurance income/expense not received (+/-) - -
- outstanding taxes and duties (+) (860,402) (360,522)
- net impairment losses on disposal groups held for sale after tax (+/-) - -
- other adjustments (+/-) (94,292) (739,926)
2. Cash flows generated/absorbed by financial assets (3,015,466) (8,758,001)
- financial assets held for trading (128,955) (1,213,878)
- financial assets at fair value (18,919) 33,110
- available-for-sale financial assets 2,084,728 (3,908,724)
- loans to banks: repayable on demand - -
- loans to banks: other loans (4,065,648) 157,912
- loans to customers 1,495,981 (4,514,509)
- other assets (2,382,653) 688,088
3. Cash flows generated/absorbed by financial liabilities 1,608,723 8,769,541
- amounts due to banks repayable on demand - -
- amounts due to banks: other payables 4,388,304 59,543
- due to customers (4,234,866) 5,801,196
- securities issued 283,475 3,744,444
- financial liabilities held for trading 109,250 99,036
- financial liabilities at fair value - -
- other liabilities 1,062,560 (934,678)
Cash flows generated/absorbed by operating activities (752,566) 95,598
B. INVESTING ACTIVITIES
1. Cash flows generated by 39,429 218,289
- disposals of equity investments 2,704 81,095
- dividends received on equity investments 19,997 24,099
- disposals of held-to-maturity investments - -
- disposals of property, equipment and investment property 9,662 14,458
- disposals of intangible assets - 811
- disposals of lines of businesses 7,066 97,826
2. Cash flows absorbed by (149,494) (188,471)
- purchases of equity investments (36,000) (13,988)
- purchases of held-to-maturity investments - -
- purchases of property, equipment and investment property (48,992) (105,507)
- purchases of intangible assets (64,502) (68,976)
- purchases of lines of business - -
Cash flows generated/absorbed by investing activities (110,065) 29,818
C. FUNDING ACTIVITIES - -
- issues/repurchases of treasury shares 981,662 -
- issues/purchases of equity instruments - -
- distribution of dividends and other uses (102,236) (200,221)
Cash flows generated/absorbed by funding activities 879,426 (200,221)
CASH FLOWS GENERATED/ABSORBED DURING THE YEAR 16,795 (74,805)
Key: (+) generated (-) absorbed
236