UBI Banca Group

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The revision of the useful life of these fixed assets was supported by an analysis conducted by an external firm of experts and arises from the recognition that the economic useful life and therefore the related economic benefits resulting from their use has increased principally as a result of technological developments in the hardware and software equipment in question. Consequently, a useful life of 48 months was considered appropriate instead of 30 months, as estimated previously. The revised useful life was adopted prospectively and therefore for assets acquired from 2011 and it involved recognition of lower depreciation of €1.3 million for the year. - Useful life of UBI Sistemi e Servizi software The consortium company UBI Sistemi e Servizi possesses application software used exclusively by Banca 24-7 under a service contract. As a consequence of the extraordinary operation to be performed in the near future which will lead, eventually, to the retirement of that software, UBI Sistemi e Servizi adjusted its useful life accordingly and it recognised increased expense of approximately €3.5 million in its income statement for 2011. Amendments to IAS 39 ******* The process of the full revision of IAS 39, is still in progress and at present no documents issued by the IASB have been endorsed by the European Commission. With regard to the compulsory adoption of the new accounting rules, on 16 th December 2011 the IASB issued the amendment “Mandatory Effective Date of IFRS 9 and Transition Disclosures”, which postponed the date in question until 1 st January 2015, because the projects on the impairment of financial instruments measured at amortised cost and on hedge accounting (stages two and three of the full project to revise IAS 39) and also that on insurance contracts are still in progress. The definition of stage two “impairment” and the first part of stage three on “general hedge accounting” is expected in 2012, while the issue of an exposure draft on the second part of stage three “macro hedge accounting” is currently scheduled for the third quarter of 2012. 249
List of the main IFRS standards endorsed by the European Commission IAS/IFRS ACCOUNTING STANDARD ENDORSEMENT IAS 1 Presentation of financial statements Reg. 1274/2008, 53/2009, 70/2009, 494/2009, 243/2010, 149/2011 IAS 2 Inventories Reg. 1126/2008 IAS 7 Statement of cash flows Reg. 1126/2008, 1274/2008, 70/2009, 494/2009, 243/2010 IAS 8 Accounting policies, changes in accounting estimates and errors Reg. 1126/2008, 1274/2008, 70/2009 IAS 10 Events after the reporting date Reg. 1126/2008, 1274/2008, 70/2009, 1142/2009 IAS 11 Construction contracts Reg. 1126/2008, 1274/2008 IAS 12 Income taxes Reg. 1126/2008, 1274/2008, 495/2009 IAS 16 Property, plant and equipment Reg. 1126/2008, 1274/2008, 70/2009, 495/2009 IAS 17 Leases Reg. 1126/2008, 243/2010 IAS 18 Revenues Reg. 1126/2008, 69/2009 IAS 19 Employee benefits Reg. 1126/2008, 1274/2008, 70/2009 IAS 20 Accounting for government grants and disclosure of government assistance Reg. 1126/2008, 1274/2008, 70/2009 IAS 21 The effects of changes in foreign exchange rates Reg. 1126/2008, 1274/2008, 69/2009, 494/2009, 149/2011 IAS 23 Borrowing costs Reg. 1260/2008, 70/2009 IAS 24 Related party disclosures Reg. 632/2010 IAS 26 Retirement benefit plans Reg. 1126/2008 IAS 27 Consolidated and separate financial statements Reg. 494/2009 IAS 28 Investments in associates Reg. 1126/2008, 1274/2008, 70/2009, 494/2009, 495/2009, 149/2011 IAS 29 Financial reporting in hyperinflationary economies Reg. 1126/2008, 1274/2008, 70/2009 IAS 31 Interests in joint ventures Reg. 1126/2008, 70/2009, 494/2009, 149/2011 IAS 32 Financial instruments: presentation Reg. 1126/2008, 1274/2008, 53/2009, 70/2009, 495/2009, 1293/2009, 149/2011 IAS 33 Earnings per share Reg. 1126/2008, 1274/2008, 495/2009 IAS 34 Interim financial reporting Reg. 1126/2008, 1274/2008, 70/2009, 495/2009, 149/2011 IAS 36 Impairment of assets Reg. 1126/2008, 1274/2008, 69/2009, 70/2009, 495/2009, 243/2010 IAS 37 Provisions, contingent liabilities and contingent assets Reg. 1126/2008, 1274/2008, 495/2009 IAS 38 Intangible assets Reg. 1126/2008, 1274/2008, 70/2009, 495/2009, 243/2010 IAS 39 Financial instruments: recognition and measurement Reg. 1126/2008, 250
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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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The public tender offer to purchase
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As concerns mutual investment funds
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General banking business with custo
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The ratio of lending to funding in
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The change recorded was caused by a
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unsecured non-performing loans (€
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Loans to customers: changes in dete
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The interbank market and the liquid
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Loans to banks: composition Changes
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The collateral pool also benefited
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Financial assets The year 2011 was
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- 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
Page 199 and 200: impaired loans - attributable mainl
Page 201 and 202: managers of Banca Popolare Commerci
Page 203 and 204: Development Decree - Decree Law No.
Page 205 and 206: ‐ the tax treatment of provisions
Page 207 and 208: a different criterion is used to ca
Page 209 and 210: Further details of tax inspections
Page 211 and 212: In 2011, UBI Banca obtained visibil
Page 213 and 214: meetings with representatives of bo
Page 215 and 216: Legislation on the protection of pe
Page 217 and 218: • risks defined as measurable, fo
Page 219 and 220: 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
Page 233 and 234: Consolidated Income Statement figur
Page 235 and 236: Statement of changes in consolidate
Page 237 and 238: Consolidated Statement of Cash Flow
Page 239 and 240: PART A - Accounting policies A.1 -
Page 241 and 242: Accounting policies The accounting
Page 243 and 244: The income statement of the investo
Page 245 and 246: 39. UBI Finance Srl Milan euro 10,0
Page 247 and 248: ▪ ▪ ▪ 14 th March 2012: the U
Page 249: consequent absence of taxable incom
Page 253 and 254: Reg. 1126/2008, SIC 7 Introduction
Page 255 and 256: 1.2. Definition of financial assets
Page 257 and 258: performance by stock markets rather
Page 259 and 260: 3.4 Derecognition criteria Held-to-
Page 261 and 262: original loan contract, or in the p
Page 263 and 264: The methods used for measurement of
Page 265 and 266: 6.3 Measurement criteria Investment
Page 267 and 268: individual renewals, or if the asse
Page 269 and 270: An intangible asset is recognised i
Page 271 and 272: (a) within asset item 120 of the ba
Page 273 and 274: 10.1. Current tax assets and liabil
Page 275 and 276: might affect the amount required to
Page 277 and 278: 14.3.2 Post-employment benefits and
Page 279 and 280: Interest is recognised on an accrua
Page 281 and 282: Level 2 Where no prices are availab
Page 283 and 284: A.3.2.1 Accounting portfolios: dist
Page 285 and 286: 2.2 Financial assets held for tradi
Page 287 and 288: 3.3. Financial assets at fair value
Page 289 and 290: 4.4 Available-for-sale financial as
Page 291 and 292: 6.2 Loans to banks: assets subject
Page 293 and 294: - 5 % auto sector; - 3 % aeronautic
Page 295 and 296: SECTION 10 Equity investments - Ite
Page 297 and 298: 10.3 Annual changes in equity inves
Page 299 and 300: 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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