UBI Banca Group

saturated or have limited margins for growth. Action was taken on units with insufficient
current and/or potential profitability and at the same time branches close to those where
action was taken and also those with the best prospects for growth were expanded. The mass
operation – which will also result in contained operating expenses through the termination of
expensive rental contracts – involved the following:
• the closure of 32 branches 7 and 46 mini-branches;
• the transformation of 40 branches into mini-branches and one mini-branch into a branch;
• the partial transfer of customers belonging to one branch and changes to a parent unit for
three mini-branches.
Action taken in February 2012 also includes the extension of the “head branch-grouped
branch” model to include the branch network of Banca Popolare Commercio e Industria in
Emilia.
Action taken on the Group branch network in Italy up until 27th March 2012
Opening of:
Closures of:
branches mini-branches branches mini-branches
Transformation of
branches into minibranches
Transformation of
mini-branches into
branches
Banca Popolare di Bergamo Spa 1 - 1 - 2 -
Banco di Brescia Spa - - 16 6 - -
Banca Popolare Commercio e Industria Spa - - 9 1 20 1
Banca Regionale Europea Spa - 1 - 5 7 -
Banca Popolare di Ancona Spa 1 - 4 9 11 -
Banca Carime Spa - - 1 23 - -
Banco di San Giorgio Spa - - - 2 - -
UBI Banca Private Investment Spa - - 1 - - -
TOTAL 2 1 32 46 40 1
The above action was taken at a time when the short and long-term strategy for new branch
openings was being revised along more prudential lines. They will now be limited to real
commercial opportunities which arise from time to time on local markets, while the policy to
develop alternatives to physical channels will continue. The logistical transfer of operating
units within the towns and cities where they are currently located is also planned with a view
to a more appropriate size for units and also to optimising costs.
A detailed report on closures and openings in the branch network of the Group that occurred in 2011 and
the first few months of 2012 is given in the subsequent section “The distribution network and positioning”,
which may be consulted.
7 For logistics and organisational reasons, the closure of two Banca Popolare di Bergamo branches may not be performed until after
the preparatory stage for the transformation into mini-branches. These branches have therefore been counted among
transformations into mini-branches in the table for 2012 changes.
40