UBI Banca Group

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A fourth public issuance took place on 15 th September 2010 for a further 1 billion euro, details of which are given below. Name Issue date Maturity date Nominal amount Coupon UBI BANCA 3.375% CB due 15.09.2017 15.09.2010 15.09.2017 1,000,000,000.00 33,750,000.00 Full participation in the programme by the network banks was completed in the last quarter of 2010 when the following banks joined the programme with the transfer of mortgages for a total amount of €2.4 billion on 1 st October 2010: Banca Popolare Commercio ed Industria, Banca Carime, Banca di Valle Camonica and UBI Banca Lombarda Private Investment. A further public issue took place in October for €500,000,000, with a five year maturity, details of which are given below. Name Issue date Maturity date Nominal amount Coupon UBI BANCA 3.125% CB due 18.10.2015 18.10.2010 18.10.2015 500,000,000.00 15,625,000.00 In the first quarter of 2011, in January and February 2011 two more public issuances of covered bonds took place for a total of €1.75 billion, details of which are given below. Name Issue date Maturity date Nominal amount Coupon UBI BANCA 5.250% CB due 28/01/2021 28/01/2011 28/01/2021 1,000,000,000,00 52,500,000.00 UBI BANCA 4.500% CB due 22/02/2016 22/02/2011 22/02/2016 750,000,000,00 33,750,000.00 A further transfer of assets was performed for the covered bond programme in which Banca Popolare di Bergamo and Banco di Brescia participated. They transferred mortgages to the special purpose entity UBI Finance which they already held in their portfolios for a total of €1.4 billion of residual capital debt. A second transfer was performed on 31 st October 2011 of total assets of €1.6 billion. The participating banks on this occasion were Banca Regionale Europea, Banca Popolare di Ancona and Banco di San Giorgio. 411
Subsequently, in November 2011, after a further framework agreement between the EIB (European Investment Bank) and the UBI Group for the grant of medium-to-long term loans to corporate clients was signed, a second issuance was performed of privately placed bonds fully subscribed by the EIB. Details of the issuance are as follows: Name Issue date Maturity date Nominal amount Coupon (*) UBI BANCA TV CB due 18/11/2022 18/11/2011 18/11/2022 250,000,000.00 5,669,805.56 (*) The half yearly coupon is floating rate and the amount indicated relates to the coupon payable at the end of May 2012. When issued all the bonds indicated above received the highest rating from Fitch (AAA) and Moody’s (Aaa). The following banks formed part of the programme as at 31 st December 2011: Banco di Brescia, Banca Regionale Europea, Banca Popolare di Bergamo, Banca Popolare di Ancona, Banco di San Giorgio, Banca Popolare Commercio ed Industria, Banca CARIME, Banca di Valle Camonica and UBI Banca Private. The total portfolio used to cover the issues, which for accounting purposes is recognised within the assets of each originator bank, consisted on that date of over €9.6 billion of residual capital debt. The portfolio used to cover the issues, which for accounting purposes is recognised within the assets of each originator bank, consisted of over €9.6 billion of residual capital debt as at 31.12.2011. The table below gives the distribution of the portfolio (remaining principal debt) for each originator bank and the total by class of credit quality as at 31.12.2011. Type of loan Total portfolio originated by Banca Regionale Europea originated by Banco di Brescia originated by Banca Popolare di Bergamo originated by Banca Popolare di Ancona originated by Banco di San Giorgio originated by Banca Popolare Commercio & Industria originated by Banca Carime originated by Banca di Valle Camonica originated by UBI Banca Private Investment (Remaining principal debt – figures in thousands of euro) Performing loans 8,500,842 936,507 1,803,927 2,168,484 887,745 385,239 1,530,265 530,329 158,653 99,695 Delinquent loans 1,014,546 107,642 318,101 187,487 97,306 80,262 127,099 49,480 27,920 19,249 Portfolio Collateral (1 + 9,515,388 1,044,159 2,122,028 2,355,971 985,051 465,501 1,657,364 579,809 186,573 118,944 2) Defaulted loans 131,543 15,918 34,091 34,713 8,786 8,887 18,727 6,235 4,033 154 Total UBI Finance portfolio 9,646,931 1,060,087 2,156,119 2,390,684 993,837 474,388 1,676,091 586,044 190,606 119,098 In 2011 this portfolio generated total payments received of approximately €1.2 billion, distributed as follows among the portfolios of the different originators: originated Type of loan Total portfolio originated by Banca Regionale Europea originated by Banco di Brescia originated by Banca Popolare di Bergamo originated by Banca Popolare di Ancona originated by Banco di San Giorgio originated by Banca Popolare Commercio & Industria originated by Banca Carime originated by Banca di Valle Camonica by UBI Banca Lombarda Private Investment (figures in thousands of euro) Payments received in 2011 (*) 1.341.009 126.553 307.500 364.886 107.484 50.321 219.309 112.129 32.311 20.515 412
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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
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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
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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
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Compliance of corporate health and
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STATEMENT OF THE CHIEF EXECUTIVE OF
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Certification of the consolidated f
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Independent auditors’ report 226
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228
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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
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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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Page 365 and 366: SECTION 21 Post-tax profit after ta
Page 367 and 368: (v) (vi) (vii) (viii) (ix) (x) on 5
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Page 371 and 372: - AMA) - in combined use with the t
Page 373 and 374: 1.2 Policies for the management of
Page 375 and 376: - it works with the Rating Desk and
Page 377 and 378: Credit processes within the network
Page 379 and 380: Credit risk management policy A pro
Page 381 and 382: Policy for the distribution of mort
Page 383 and 384: - pledge. In the case of mortgage c
Page 385 and 386: Quantitative information A. Credit
Page 387 and 388: A.1.3 Banking Group - On- and off-b
Page 389 and 390: A.1.7 Banking Group - On-balance sh
Page 391 and 392: A.3.1 Banking Group - Guaranteed/se
Page 393 and 394: B. Distribution and concentration o
Page 395 and 396: B.3 Banking group - Geographical di
Page 397 and 398: of a loan portfolio was signed, whi
Page 399 and 400: • performing loans resulting from
Page 401 and 402: Orio Finance 3 Originator UBI Banca
Page 403 and 404: Tabella 7: 190090O|1 - NOTA C.1.6 I
Page 405 and 406: C.2 Transfers C.2.1 Financial asset
Page 407 and 408: C.3 Banking Group - Covered bond op
Page 409 and 410: transferred. Each of these swaps ha
Page 411: 3. management of the operations. Th
Page 415 and 416: D. Banking group - Models for the m
Page 417 and 418: one day VaR limit for the UBI Group
Page 419 and 420: Backtesting analysis Backtesting an
Page 421 and 422: The analysis shows a very heightene
Page 423 and 424: different hypotheses for the elasti
Page 425 and 426: 2.3 Currency risk Qualitative infor
Page 427 and 428: 2.4 Derivative financial instrument
Page 429 and 430: A.3 Financial derivatives: gross po
Page 431 and 432: A.7 OTC financial derivatives: bank
Page 433 and 434: B. Credit derivatives B.1 Credit de
Page 435 and 436: The system for the management of li
Page 437 and 438: Quantitative information 1.1 Distri
Page 439 and 440: 1.3 Distribution over time by resid
Page 441 and 442: 1.5 Distribution over time by resid
Page 443 and 444: 4 BANKING GROUP - OPERATIONAL RISKS
Page 445 and 446: - Local Operational Risk Support Of
Page 447 and 448: 16031). It must also be underlined
Page 449 and 450: Quantitative information The graphs
Page 451 and 452: Operational losses detected in 2011
Page 453 and 454: B. Quantitative information Informa
Page 455 and 456: Section 2 - Capital and banking sup
Page 457 and 458: deductions and negative filters, to
Page 459 and 460: PART G - Business combination trans
Page 461 and 462: 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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