Prospectus - Notowania

In prior years the portfolio total has remained largely constant over time. The largest
portion of the portfolio is in Italian and foreign treasury bonds.
The table below summarises the information on the securities in the portfolio in the
various financial statement classifications divided by type of instrument.
(millions of €) % Change
Securities in portfolio 09.30.2009 12.31.2008 12.31.2007 12.31.2006 2009/2008 2008/2007 2007/2006
Debt securities 109,247 125,598 127,396 122,632 -13.0% -1.4% 3.9%
Held for trading financial assets 30,626 54,711 80,971 78,513 -44.0% -32.4% 3.1%
Financial assets designated at fair value 11,329 12,096 12,267 15,484 -6.3% -1.4% -20.8%
Available-for-sale financial assets 27,041 22,060 19,961 16,606 22.6% 10.5% 20.2%
Financial assets held to maturity 12,572 15,041 11,000 10,752 -16.4% 36.7% 2.3%
Loans to banks 11,221 6,700 825 685 67.5% 712.1% 20.4%
Loans to customers 16,458 14,990 2,372 592 9.8% 532.0% 300.7%
Equities 10,137 9,783 28,389 29,196 3.6% -65.5% -2.8%
Held for trading financial assets 5,802 4,828 19,483 18,938 20.2% -75.2% 2.9%
Financial assets designated at fair value 52 63 75 39 -17.5% -16.0% 92.3%
Available-for-sale financial assets 4,283 4,892 8,831 10,219 -12.4% -44.6% -13.6%
Units in collective investment undertakings 3,913 4,430 10,194 9,026 -11.7% -56.5% 12.9%
Held for trading financial assets 2,050 2,562 7,843 6,169 -20.0% -67.3% 27.1%
Financial assets designated at fair value 536 597 395 411 -10.2% 51.1% -3.7%
Available-for-sale financial assets 1,327 1,271 1,956 2,446 4.4% -35.0% -20.0%
Total securities in portfolio 123,297 139,811 165,97 160,854 -11.8% -15.80% 3.20%
Held for trading financial assets 38,478 62,101 108,297 103,620 -38.0% -42.70% 4.50%
Financial assets designated at fair value 11,917 12,756 12,737 15,934 -6.6% 0.10% -20.10%
Available-for-sale financial assets 32,651 28,223 30,748 29,271 15.7% -8.20% 5.00%
Financial assets held to maturity 12,572 15,041 11,000 10,752 -16.4% 36.70% 2.30%
Loans to banks 11,221 6,700 825 685 67.5% 712.10% 20.40%
Loans to customers 16,458 14,990 2,372 592 9.8% 532.00% 300.70%
The Group’s securities portfolio consists of 1 :
Listed securities 83,131 102,882 124,912 127,091 -19.2% -17.6% -1.7%
Unlisted securities 12,487 15,239 37,869 32,485 -18.1% -59.8% 16.6%
1 The figure does not include loans to banks or loans to customers included in debt securities.
In reference to December 31, 2008, the classification of securities in portfolio broken
down by issuer is reported below. From the table it is evident that debt securities are,
the portfolio results being on a whole, equally distributed among the various types of
issuers, with the exception of trading securities, which consist mainly of securities
issued by banks (42.9% of the total).
Equities are mostly related to “other issuers” and, in particular, to "non-financial
companies" (for 52.1% of equities). Specifically, for trading assets, securities related
to these companies make up 65% of the total.
(millions of €) 12.31.2008
Securities portfolio by issuer
- 196 -
Held for trading
financial assets Other classifications * Total
Debt securities 54,711 70,887 125,598
Governments and Central Banks 14,312 28,597 42,909
Other public entities 1,171 772 1,943
Banks 23,479 19,671 43,150
Other issuers 15,749 21,847 37,596
Equities 4,828 4,955 9,783
Banks 793 962 1,755
Other issuers: 4,035 3,993 8,028
Insurance companies 465 941 1,406
Financial companies 127 1,036 1,163