UBI Banca Group

PART H – Transactions with related parties
1. Information on the remuneration of directors and senior managers
Information is provided in the notes to the separate company financial statements of Banche
Popolare Unite Scpa, which may be consulted.
2. Information on transactions with related parties
In compliance with IAS 24, information is provided below on the statement of financial position
and income statement transactions between related parties of UBI Banca and Group member
companies, as well as those items as a percentage of the total for each item in the consolidated
financial statements.
According to IAS 24, a related party is a person or entity that is related to the entity that is preparing its financial
statements (the “reporting entity”).
(a) A person or close family member of that person is related to the reporting entity if that person:
(i) has control or joint control over the reporting entity:
(ii) has significant influence over the reporting entity; or
(iii) is a member of the key management personnel of the reporting entity or of a parent of the reporting entity.
(b) An entity is related to a reporting entity if any of the following conditions apply:
(i) the entity and the reporting entity are members of the same group (which means that each parent, subsidiary and
fellow subsidiary is related to the others);
(ii) one entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group
of which the other entity is a member);
(iii) both entities are joint ventures of the same third party;
(iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity;
(v) the entity is a post-employment defined benefit plan for the benefit of employees of either the reporting entity or an
entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also
related to the reporting entity;
(vi) the entity is controlled or jointly controlled by a person identified in (a);
(vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management
personnel of the entity (or of a parent of the entity).
In compliance with the regulations in force, we report that all transactions carried out by the
Group member companies with related parties were conducted in observance of correct principles
both in substance and form, under conditions analogous to those applied for transactions with
independent parties.
More specifically, the Parent and its subsidiary UBI Sistemi e Servizi Scpa provide Group member
companies with a series of services, governed by intragroup contracts drawn up in accordance
with the principles of consistency, transparency and uniformity in line with the organisational
model of the Group. Under this model, strategic, and management activities are centralised at
UBI Banca and technical and operational activities in UBI Sistemi e Servizi Scpa.
The prices agreed for the services provided under the contracts were determined on the basis of
market prices or, where appropriate reference parameters could not be found in the marketplace,
in accordance with the particular nature of the services provided and also in relation to the
service contracts signed by UBI.S with its consortium shareholders, on the basis of the costs
incurred for the services provided.
The main intragroup contracts existing at the end of the year included those which implement
the centralisation of activities in the Governance and Business Areas of the Parent and they
involved the Parent and the main banks in the Group (Banca Popolare di Bergamo Spa, Banca
Popolare Commercio e Industria Spa, Banca Popolare di Ancona Spa, Banca Carime Spa, Banco
di Brescia Spa, Banca Regionale Europea Spa, Banca di Valle Camonica Spa, Banco di San
Giorgio Spa, UBI Banca Private Investment Spa) and also contracts to implement the “national
tax consolidation” (in accordance with articles 117 to 129 of Presidential Decree No. 917/1986,
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