Prospectus - Notowania

Net Write-Downs of Loans and Provisions for Guarantees and
Commitments
As noted above, the deterioration of the economic situation continued to affect asset quality and higher loan loss provisions were
therefore necessary. In M9 2009 net write-downs of loans and provisions for guarantees and commitments were €6.2 billion, as
against €2.4 billion in M9 2008. This increase was common to all areas, in particular CIB (up by €2.2 billion), Retail (up by €600
million) and CEE (up by €1 billion at constant exchange rates).
Asset quality data have been affected by the continuation of the crisis and confirm the deterioration of credit quality now evident for
a number of months. The carrying value of impaired loans was €27.2 billion, a 37% increase over December 31, 2008, the ratio to
total customer loans being 4.82% as against 4.23% in June 2009 and 3.24% in December 2008.
LOANS TO CUSTOMERS ASSET QUALITY (€ million)
As at 30.09.2009
CONSOLIDATED INTERIM REPORT
AS AT SEPTEMBER 30, 2009
NON-PERFORMING DOUBTFUL RESTRUCTURED PAST-DUE IMPAIRED PERFORMING TOTAL
LOANS LOANS LOANS LOANS LOANS LOANS CUST. LOANS
Face value 32,835 13,152 4,205 3,306 53,498 541,375 594,873
as a percentage of total loans 5.52% 2.21% 0.71% 0.56% 8.99% 91.01%
Writedowns 20,596 4,126 1,132 409 26,263 3,153 29,416
as a percentage of face value 62.7% 31.4% 26.9% 12.4% 49.1% 0.6%
Carrying value 12,239 9,026 3,073 2,897 27,235 538,222 565,457
as a percentage of total loans 2.16% 1.60% 0.54% 0.51% 4.82% 95.18%
As at 31.12.2008
Face 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%
Writedowns 18,308 2,772 593 281 21,954 2,662 24,616
as a percentage of face value 63.6% 31.0% 32.0% 12.7% 52.5% 0.4%
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%
The rise in impaired loans comprised a €1.8 billion increase in non-performing loans, €2.8 billion in doubtful loans, €1.8 billion in
restructured loans and €1 billion in past dues. This was mainly due to corporates operating in Italy, responsible for a rise in the
carrying value of impaired loans of some €5 billion and to a lesser extent to German and CEE enterprises.
Net Income from Investments
Net income from investments was €15 million in M9 2009, comprising both disposals and write-downs of equity interests.
Transactions that generated a profit in Q3 2009 include the transfer of a portion of a real estate portfolio to a closed-end property
fund, Core Nord Ovest, and the subsequent sale of the majority interest, which generated a capital gain of €132 million; the changes
in interest in the Omicron Plus fund generated a capital gain of €236 million; the sale of a property portfolio in Veneto (€27 million).
Other assets disposed of in Q3 2009 included Heidelberg Cement (€44 million) and BPH (€10 million). Write-downs made in Q3
2009 concerned private equity (€202 million), Bank of Valletta (€26 million) and Burgo (€10 million).
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