UBI Banca Group

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The Group also has over 61 thousand POS terminals installed in retail outlets, unchanged compared to twelve months before. In 2012 the sector should benefit, both in terms of units installed and volumes of business, from the new measures introduced by the government to limit the use of cash for amounts below one thousand euro only. More widespread acceptance of payments using cards is expected by retailers for which average payments are for small amounts and who therefore currently accept almost exclusively payments in cash. The positioning of the Group The table summarises the market positioning of the UBI Group in terms of branches, conventional funding (excluding bonds) and lending in provinces, where it has a more significant presence – on the basis of the latest available data from the Bank of Italy (30 th September for branches and 30 th June for the balance sheet data on the basis of the location of the branch) – both with respect to the national market and for the main areas in which the banks in the Group operate. Despite the reorganisation performed in April 2011, the positions at the end of September and at the end of June did not record any significant changes compared to the data as at the end of 2010. In terms of branches, the Group can continue to count on a market share of at least 10% in 19 Italian provinces and also on an important presence in Milan (over 9%) and Rome (around 4%). As a result of the characteristics of the two original groups, in some areas where the Group’s local presence is stronger, it has a market share of traditional funding and/or lending that is greater than the percentage of branches. UBI Banca Group: market share (*) 30.9.2011 30.6.2011 31.12.2010 Branches Branches Funding (**) (***) Lending (***) Funding (**) (***) Lending (***) North Italy 6.4% 6.3% 7.2% 6.4% 6.1% 7.3% Lombardy 12.9% 10.8% 10.8% 12.9% 10.7% 10.9% Prov. of Bergamo 21.0% 31.5% 43.1% 21.0% 32.2% 43.5% Prov. of Brescia 22.7% 36.3% 35.0% 22.6% 33.3% 35.9% Prov. of Como 5.9% 5.5% 8.2% 6.2% 5.9% 8.5% Prov. of Lecco 5.8% 4.9% 7.0% 5.4% 4.8% 6.5% Prov. of Sondrio 8.1% 1.7% 3.6% 8.1% 1.6% 3.6% Prov. of Mantua 5.6% 3.7% 4.3% 5.7% 3.6% 4.7% Prov. of Milan 9.2% 5.3% 4.5% 9.1% 5.3% 4.5% Prov. of Monza Brianza 8.3% 8.4% 9.3% 8.5% 7.9% 9.1% Prov. of Pavia 15.5% 16.8% 12.0% 15.6% 16.6% 12.4% Prov. of Varese 23.1% 30.3% 21.7% 23.7% 30.4% 23.2% Piedmont 8.4% 5.4% 7.1% 8.4% 4.9% 6.7% Prov. of Alessandria 11.8% 8.4% 10.5% 11.1% 8.8% 9.7% Prov. of Cuneo 24.4% 22.8% 20.5% 24.5% 23.6% 19.4% Prov. of Novara 4.6% 3.1% 8.3% 5.1% 2.4% 8.0% Liguria 6.0% 5.5% 8.3% 6.0% 5.0% 8.2% Prov. of Genoa 4.8% 5.1% 7.8% 5.0% 4.3% 7.8% Prov. of Imperia 5.8% 3.8% 9.2% 5.8% 3.5% 9.3% Prov. of Savona 6.3% 3.4% 10.1% 5.9% 3.2% 10.0% Prov. of La Spezia 10.1% 12.2% 7.0% 10.3% 12.6% 6.7% Central Italy 3.5% 2.9% 2.6% 3.6% 3.0% 2.5% Marches 8.1% 9.3% 8.9% 8.8% 9.3% 9.0% Prov. of Ancona 10.0% 13.8% 11.1% 10.6% 13.1% 10.6% Prov. of Macerata 8.8% 11.5% 10.4% 9.5% 11.3% 10.9% Prov. of Fermo 10.8% 10.3% 15.1% 10.6% 10.0% 15.1% Prov. of Pesaro and Urbino 6.9% 4.1% 4.8% 8.1% 5.0% 5.2% Latium 4.2% 3.0% 2.7% 4.3% 3.2% 2.5% Prov. of Viterbo 14.8% 13.0% 11.3% 14.8% 13.3% 11.3% Prov. of Rome 3.9% 3.0% 2.6% 4.0% 3.2% 2.3% South Italy 8.3% 6.7% 5.3% 8.3% 6.5% 5.3% Campania 6.0% 4.1% 4.2% 6.1% 4.0% 4.1% Prov. of Caserta 9.0% 6.7% 7.0% 8.6% 6.3% 6.7% Prov. of Salerno 8.0% 5.2% 6.2% 8.1% 4.8% 6.3% Prov. of Naples 5.0% 3.7% 3.3% 5.5% 3.7% 3.2% Calabria 22.1% 21.1% 14.2% 22.2% 21.0% 13.8% Prov. of Catanzaro 14.2% 17.5% 9.7% 14.3% 16.1% 9.5% Prov. of Cosenza 25.7% 27.3% 19.3% 25.7% 27.9% 19.0% Prov. of Crotone 18.9% 11.8% 7.2% 18.9% 12.2% 6.9% Prov. of Reggio Calabria 22.4% 15.8% 11.5% 22.1% 16.2% 10.7% Prov. of Vibo Valentia 26.3% 28.5% 18.7% 28.2% 28.2% 19.0% Basilicata 14.3% 11.5% 8.9% 14.4% 12.0% 8.8% Prov. of Matera 15.7% 10.0% 7.4% 15.7% 10.0% 7.3% Prov. of Potenza 13.6% 12.4% 9.9% 13.8% 13.4% 9.7% Apulia 8.2% 7.1% 4.9% 8.2% 6.9% 4.8% Prov. of Brindisi 12.1% 9.1% 5.9% 11.5% 9.1% 5.9% Prov. of Bari 10.0% 8.5% 5.4% 10.1% 8.4% 5.5% Prov. of Barletta Andria Trani 6.3% 7.1% 5.7% 6.4% 6.6% 5.2% Prov. of Taranto 8.4% 7.2% 5.3% 8.5% 7.1% 5.1% Total Italy 5.6% 5.2% 5.7% 5.6% 5.1% 5.8% (*) The financial dat a is t aken f rom Bank of It aly st at ist ics. From 30t h June 2011, the Bank of It aly st at istics relat ed t o t ot al ordinary cust omers excluding f inancial and monet ary inst itut ions. This change, which with respect t o t he past excludes t hree sub groupings of economic act ivit ies of marginal importance bot h f or deposits and loans, does not produce any signif icant discont inuit ies in t he dat a in t he comparison wit h December. (**) Current accounts, certificates of deposit, savings deposits. (***) M arket share by locat ion of the branch. 64
Human resources The composition of Group personnel and changes in 2011 Group personnel Employees actually in service Employees on the payroll 31.12.2011 31.12.2010 Changes 31.12.2011 31.12.2010 Changes Number A B A-B C D C-D Banca Popolare di Bergamo Spa 3,723 3,761 -38 3,795 3,808 -13 Banco di Brescia Spa 2,584 2,632 -48 2,594 2,625 -31 Banca Carime Spa 2,182 2,221 -39 2,319 2,363 -44 Banca Popolare Commercio e Industria Spa 1,713 1,756 -43 1,896 1,952 -56 Banca Popolare di Ancona Spa 1,710 1,715 -5 1,797 1,795 2 Banca Regionale Europea Spa 1,513 1,552 -39 1,577 1,585 -8 UBI Banca Scpa 1,250 1,367 -117 2,170 2,171 -1 Banco di San Giorgio Spa 419 417 2 419 418 1 Banca di Valle Camonica Spa 348 346 2 345 346 -1 Centrobanca Spa 316 325 -9 316 316 - IW Bank Spa 275 291 -16 289 312 -23 B@nca 24-7 Spa 206 227 -21 166 172 -6 UBI Banca Private Investment Spa 165 167 -2 153 163 -10 UBI Banca International Sa 98 98 - 93 92 1 Banque de Dépôts et de Gestion Sa 68 102 -34 67 100 -33 TOTAL FOR BANKS 16,570 16,977 -407 17,996 18,218 -222 UBI Sistemi e Servizi SCpA 2,021 1,860 161 676 665 11 UBI Leasing Spa 255 242 13 245 250 -5 UBI Factor Spa 153 153 - 144 145 -1 UBI Pramerica SGR Spa 142 142 - 120 122 -2 Prestitalia Spa 104 105 -1 96 102 -6 UBI Insurance Broker Srl 38 40 -2 34 36 -2 UBI Fiduciaria Spa 24 23 1 17 17 - Silf Spa 9 14 -5 23 25 -2 BPB Immobiliare Srl 9 9 - 4 4 - UBI Gestioni Fiduciarie Sim Spa 7 7 - 4 4 - InvestNet International Sa 5 7 -2 7 8 -1 Centrobanca Sviluppo Impresa SGR Spa 6 6 - 2 2 - Coralis Rent Srl 5 6 -1 - - - UBI Trustee Sa 4 4 - 4 4 - BDG Singapore Pte Ltd 18 14 4 16 12 4 UBI Management Company Sa 3 2 1 3 2 1 S.B.I.M. Spa 1 1 - - - - TOTAL 19,374 19,612 -238 19,391 19,616 -225 Workers on personnel leasing contracts 31 87 -56 31 87 -56 TOTAL PERSONNEL 19,405 19,699 -294 On secondment outside the Group - out 25 17 8 - in 8 13 -5 TOTAL WORKFORCE 19,430 19,716 -286 19,430 19,716 -286 The table above gives details for each company of the actual distribution of ordinary employees (workers on permanent and temporary contracts and on apprenticeship contracts) within the Group as at 31 st December 2011, adjusted to take account of secondments to and from other entities within or external to the Group (column A) compared with the position at the end of 2010 (column B) restated on a consistent basis. Column C, on the other hand, gives details for each company of the number of employees on the payroll as at 31 st December 2011 compared with the end of 2010 restated on a consistent basis (column D). Compared to the figures published in the 2010 Annual Report, the personnel of Banque de Dépôts et de Gestion as at 31 st December 2010 reported in the Table: • includes six personnel (of which five are employees) from Gestioni Lombarda (Swiss) merged in December 2010; • does not include 14 personnel (of which 12 are employees) of BDG Singapore Pte Ltd, now reported separately. As already reported, at the end of 2010, the company was still at the start-up stage of its asset management business, having just obtained a license to operate from the local authorities in October. 65
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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
Page 15 and 16: The rating As the sovereign debt cr
Page 17 and 18: Notice of call 1 An Ordinary Genera
Page 21 and 22: The macroeconomic scenario In a gen
Page 23 and 24: Monetary policy action taken by the
Page 25 and 26: imports (+24.9%) than in exports (+
Page 27 and 28: permanently balance public accounts
Page 29 and 30: In the light of the very serious cr
Page 31 and 32: total of the variable component of
Page 33 and 34: The “hour glass” shaped distrib
Page 35 and 36: dynamic use of credit recovery serv
Page 37 and 38: The contribution of the outstanding
Page 39 and 40: 4 th -7 th July 2011 (offer period
Page 41 and 42: Action undertaken on the branch net
Page 43 and 44: Disposal of UBI Pramerica SGR opera
Page 45 and 46: Finally, the UBI Banca Group increa
Page 47 and 48: • the “Italian Banking Associat
Page 49 and 50: - the global financial crisis, whic
Page 51 and 52: As a result of new loan disbursemen
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Page 55 and 56: As concerns the Foreign-Commercial
Page 57 and 58: This dialogue with customers is not
Page 59 and 60: The distribution network and positi
Page 61 and 62: The Italian distribution network of
Page 63 and 64: Remote channels Market coverage by
Page 65: • private individual customers ca
Page 69 and 70: The percentage of part-time employe
Page 71 and 72: Personnel management policies and i
Page 73 and 74: • the implementation of the “Va
Page 75 and 76: editions were published in 2011). A
Page 77 and 78: 15. Barberini Sa (100% controlled)
Page 79 and 80: Companies consolidated using the eq
Page 81 and 82: - 22 nd February 2011: UBI Banca de
Page 83 and 84: total price of €77 million. Conse
Page 85 and 86: Reclassified consolidated financial
Page 87 and 88: Reclassified consolidated income st
Page 89 and 90: Reclassified consolidated income st
Page 91 and 92: Notes to the reclassified consolida
Page 93 and 94: marked improvement compared to €8
Page 95 and 96: elation to higher volumes of busine
Page 97 and 98: equity investments (including PerMi
Page 99 and 100: (+0.9%). The changes summarise the
Page 101 and 102: Brescia and €116.3 million of imp
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Page 105 and 106: The comments that follow are based
Page 107 and 108: Total funding Total group funding,
Page 109 and 110: On the other hand, while significan
Page 111 and 112: In detail, institutional funding wa
Page 113 and 114: The public tender offer to purchase
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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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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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