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GROUP ASSET QUALITY KEEPS IMPROVING<br />
NET IMPAIRED LOANS (1) % ON TOTAL NET LOANS (1) 51.5%<br />
(bn)<br />
% COVERAGE RATIO ON IMPAIRED (1)<br />
-3.6 bn -94 bp<br />
+4.4 p.p.<br />
19.9<br />
16.9<br />
16.3<br />
3.70%<br />
2.95%<br />
2.76%<br />
54.5%<br />
55.9%<br />
Dec 06 Dec 07<br />
Mar 08<br />
Dec 06 Dec 07<br />
Mar 08<br />
Dec 06 Dec 07 Mar 08<br />
GROSS<br />
IMPAIRED<br />
LOANS<br />
40.9 37.2 36.9<br />
11<br />
• Both gross and net impaired loans down q/q with mild growth in Italy (gross +3.8%<br />
q/q) more than offset by ongoing reduction in Germany (gross -9.6% q/q)<br />
• Net impaired loans on total loans further decrease in 1Q08; decline since Dec06<br />
reaches a remarkable -0.9 p.p.<br />
• Coverage ratio on impaired loans increased q/q across all categories, with NPL<br />
coverage now standing at 66.0%<br />
(1)<br />
Loans to customers