Prospectus - Notowania

(millions of €)
(millions of €)
Cash exposure to customers: Change in writedowns
Non-performing
loans Doubtful loans
- 204 -
Restructured
loans Past-due loans
Total opening write-downs as at January 1,
2008 18,852 1,909 480 188
of which: sold but not derecognised 38 16 0 5
Increases 5,658 2,205 390 375
Write-downs 3,886 1,752 335 227
Transfers from other impaired exposures 672 158 25 21
Other increases 1,100 295 30 127
Decreases 5,980 1,335 277 278
Write-backs from assessments 505 142 16 22
Write-backs from recoveries 1,254 221 32 25
Write-offs 2,653 128 28 1
Transfers to other impaired exposures 64 553 101 158
Other decreases 1,504 291 100 72
Total closing write-downs as at December 31,
2008 18,530 2,779 593 285
of which: sold but not derecognised 63 33 1 22
Total opening write-downs as at January 1,
2009 18,530 2,779 593 285
of which: sold but not derecognised 63 33 1 22
Increases 5,763 2,904 1,041 464
Write-downs 4,294 2,289 388 304
Transfers from other impaired exposures 922 346 308 14
Other increases 547 269 345 146
Decreases 3,386 1,549 502 337
Write-backs from assessments 359 241 85 39
Write-backs from recoveries 585 100 14 14
Write-offs 1,467 108 95 6
Transfers to other impaired exposures 275 887 212 217
Other decreases 700 213 96 61
Total closing write-downs as at September 30,
2009 20,907 4,134 1,132 412
of which: sold but not derecognised 68 119 1 46
* As provided in the Bank of Italy Instructions, the positions indicated above include total cash exposures and for this reason the
balances differ with respect to those indicated in previous tables related to loans and receivables with customers.
Despite the increase in write-downs compared to the end of 2008, the quarterly trend
in write-downs show a deceleration starting in the third quarter of 2009. The cost of
risk (meaning the ratio between write-downs and average resizing of the portfolio)
decreased from 164 basis points in Q2 to 150 basis points in Q3. Retail and CIB are
the primary areas of improvement. In reference to CEE regions, while Kazakhstan
showed an increase in write-downs - for which a provision of €249 million was made
in the third quarter – Russia, Turkey and Croatia showed improvement.
In comparing loans to customers in 2008 versus 2007, the following is evident:
Loans to customers – credit
quality
NON-
PERFORMING
LOANS
DOUBTFU
L LOANS
RESTRUCTURED
LOANS
PAST-
DUE
LOANS
TOTAL
IMPAIRED
LOANS
PERFORMING
LOANS
TOTAL
LOANS
Situation as at 12.31.2008
Notional value 28,772 8,949 1,856 2,205 41,782 595,314 637,096
as a percentage of total
loans 4.52% 1.40% 0.29% 0.35% 6.56% 93.44%
as a percentage of total
loans before IAS 39
reclassification 4.59% 1.44% 0.30% 0.35% 6.68% 93.32%
Write-downs 18,308 2,772 593 281 21,954 2,662 24,616
as a percentage of
notional value 63.60% 31.00% 32.00% 12.70% 52.50% 0.40%
Carrying value 10,464 6,177 1,263 1,924 19,828 592,652 612,480
as a percentage of total
loans 1.71% 1.01% 0.21% 0.31% 3.24% 96.76%
as a percentage of total
loans before IAS 39
reclassification 1.73% 1.03% 0.21% 0.32% 3.30% 96.70%