UBI Banca Group

4.4 Available-for-sale financial assets: annual changes
Debt instruments
Equity instruments
Units in O.I.C.R.
(collective
investment
instruments)
Financing
A. Opening balances 9,635,707 490,557 124,909 1,446 10,252,619
B. Increases 2,044,579 68,543 35,173 - 2,148,295
B.1 Purchases 1,982,067 58,015 6,659 - 2,046,741
B.2 Positive changes in fair value 14,638 3,028 5,195 - 22,861
B.3 Reversal of impairment losses - 234 2,059 - 2,293
- recognised in the income statement - - - - -
- recognised in equity - 234 2,059 - 2,293
B.4 Transfers from other portfolios - - - - -
B.5 Other changes 47,874 7,266 21,260 - 76,400
C. Decreases (4,128,554) (172,467) (58,738) (1,446) (4,361,205)
C.1 Sales (542,935) (22,358) (23,893) - (589,186)
C.2 Redemptions (2,595,261) (125) (16,509) - (2,611,895)
C.3 Negative changes in fair value (949,864) (8,883) (6,840) - (965,587)
C.4 Impairment losses (373) (119,733) (11,128) - (131,234)
- recognised in the income statement (373) (119,733) (8,076) - (128,182)
- recognised in equity - - (3,052) - (3,052)
C.5 Transfers to other portfolios - - - - -
C.6 Other changes (40,121) (21,368) (368) (1,446) (63,303)
D. Final balances 7,551,732 386,633 101,344 - 8,039,709
Total
Purchases of debt instruments consisted mainly of investments in government securities
(approximately €1.8 billion), while the remaining part consisted of purchases of bonds issued
by major banks.
Again with regard to debt instruments, the decrease in fair value was attributable to the
serious economic situation on markets (especially in the last quarter of the year). The mark-tomarket
recognition of instruments was performed in a separate fair value reserve in equity.
Purchases of investments in equity instruments related almost totally to the subscription of
the Intesa Sanpaolo S.p.A. share increase for €56.7 million, while sales mainly regarded the
following:
- London Stock Exchange Group amounting to €16.6 million;
- Hopa S.p.A. amounting to €2.7 million;
- Banca Cooperativa Valsabbina Scrl amounting to €1.5 million;
- Permicro amounting to €0.7 million.
Impairment losses charged to the income statement relate mainly to shares held in Intesa
Sanpaolo S.p.A., amounting to €112,542 thousand.
The schedule below shows changes and the effects in the income statement of the shares held
in Intesa Sanpaolo S.p.A..
historical amounts
amounts as at
31/12/2010
movements in reserves and in the
income statement to 31/12/2010
number of
shares unit price cost unit price fair value
reversal of share
to reserve (gross of
tax)
recognition in the
income statement
145,022,912 5.686 824,600 2.0423 296,180 (126,069) (36,807)
Subscription of share capital
increase (June 2011)
new historical amounts
amounts as at
31/12/2011
movements in reserves and in the
income statement to 31/12/2011
number of
shares unit price
cost
number of
shares unit price cost unit price fair value
fair value change
of share in reserve
(gross of tax)
recognition in the
income statement
41,435,116 1.369 56,725 186,458,028 4.727 881,325 1.2891 240,363 0 (112,542)
288