DOCSLIB.ORG

Interim Statement As at 30 September 2014 Worldreginfo - 72Fcf2e3-Bb0c-405E-A189-48A67d4722c3 Worldreginfo - 72Fcf2e3-Bb0c-405E-A189-48A67d4722c3

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Interim Statement As at 30 September 2014 Worldreginfo - 72Fcf2e3-Bb0c-405E-A189-48A67d4722c3 Worldreginfo - 72Fcf2e3-Bb0c-405E-A189-48A67d4722c3 Interim Statement as at 30 September 2014 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 This is an English translation of the Italian language original “Resoconto intermedio al 30 settembre 2014” that has been prepared solely for the convenience of the reader. The Italian language original “Resoconto intermedio al 30 settembre 2014” was approved by the Management Board of Intesa Sanpaolo on 11 November 2014 and is available on group.intesasanpaolo.com This document contains certain forward-looking statements, projections, objectives, estimates and forecasts reflecting the Intesa Sanpaolo management’s current views with respect to certain future events. Forward-looking statements, projections, objectives, estimates and forecasts are generally identifiable by the use of the words “may,” “will,” “should,” “plan,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts, including, without limitation, those regarding Intesa Sanpaolo’s future financial position and results of operations, strategy, plans, objectives, goals and targets and future developments in the markets where Intesa Sanpaolo participates or is seeking to participate. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements as a prediction of actual results. The Intesa Sanpaolo Group’s ability to achieve its projected objectives or results is dependent on many factors which are outside management’s control. Actual results may differ materially from (and be more negative than) those projected or implied in the forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results and is based on certain key assumptions. All forward-looking statements included herein are based on information available to Intesa Sanpaolo as of the date hereof. Intesa Sanpaolo undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law. All subsequent written and oral forward-looking statements attributable to Intesa Sanpaolo or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 Interim Statement as at 30 September 2014 Intesa Sanpaolo S.p.A. Registered office: Piazza San Carlo, 156 10121 Torino Secondary registered office: Via Monte di Pietà, 8 20121 Milano Share capital 8,553,821,316.56 Euro Registration number on the Torino Company Register and Fiscal Code 00799960158 VAT number 10810700152 Member of the National Interbank Deposit Guarantee Fund and of the National Guarantee Fund, included in the National Register of Banks No. 5361 and Parent Company of “Intesa Sanpaolo”, included in the National Register of Banking Groups. WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 3 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 Contents The Intesa Sanpaolo Group 7 Supervisory Board, Management Board, Manager responsible for preparing the Company’s financial reports and Independent Auditors 11 Overview of the nine months of 2014 13 Income statement figures and alternative performance measures 14 Balance sheet figures and alternative performance measures 15 Other alternative performance measures 16 Executive summary 19 Consolidated financial statements 37 Report on operations 43 Economic results 45 Balance sheet aggregates 56 Breakdown of consolidated results by business area 64 Risk management 88 Accounting policies 109 Criteria for the preparation of the Interim statement 111 Declaration of the Manager responsible for preparing the Company’s financial reports 114 Contacts 115 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 5 5 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 The Intesa Sanpaolo Group WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 7 The Intesa Sanpaolo Group: presence in Italy Banks NORTH WEST NORTH EAST INTESA SANPAOLO Subsidiaries INTESA SANPAOLO Subsidiaries Branches Company Branches Branches Company Branches 1,370 Intesa Sanpaolo Private Banking 55 24 CR del Veneto 347 Banca Fideuram 37 CR in Bologna 174 Banca Prossima 20 CR del Friuli Venezia Giulia 107 Mediocredito Italiano 3 CR Venezia 91 Banca IMI 1 CR di Forlì e della Romagna 90 Banca di Trento e Bolzano 73 Banca Monte Parma 67 Intesa Sanpaolo Private Banking 37 Banca Fideuram 22 Banca Prossima 14 CENTRE Mediocredito Italiano 2 INTESA SANPAOLO Subsidiaries Branches Company Branches 233 Banca CR Firenze 562 Banca dell’Adriatico 114 SOUTH Intesa Sanpaolo Private Banking 23 INTESA SANPAOLO Subsidiaries Banca Fideuram 21 Branches Company Branches Banca Prossima 7 8 Banco di Napoli 618 Banco di Napoli 3 Banca dell’Adriatico 96 Mediocredito Italiano 3 Intesa Sanpaolo Private Banking 18 Banca Prossima 15 Banca Fideuram 11 ISLANDS Mediocredito Italiano 2 INTESA SANPAOLO Subsidiaries Branches Company Branches 156 Banca di Credito Sardo 88 Banca Prossima 9 Banca Fideuram 5 Intesa Sanpaolo Private Banking 5 Mediocredito Italiano 2 Figures as at 30 September 2014 Product Companies Bancassurance Pension Funds Asset Management Fiduciary Services Consumer Credit Electronic Payments Industrial credit, Factoring and Leasing WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 8 The Intesa Sanpaolo Group: international presence Banks, Branches and Representative Offices AMERICA ASIA EUROPE Direct Branches Representative Offices Direct Branches Representative Offices Direct Branches Representative Offices George Town Santiago Dubai Abu Dhabi Amsterdam Athens New York São Paulo Hong Kong Beijing Frankfurt Brussels(2) Shanghai Beirut Innsbruck(1) Istanbul Singapore Ho Chi Minh City Istanbul Moscow OCEANIA Tokyo Mumbai London Stockholm Representative Offices Seoul Madrid Sydney Paris Warsaw Country Subsidiaries Branches Albania Intesa Sanpaolo Bank Albania 31 Bosnia and Herzegovina Intesa Sanpaolo Banka Bosna i Hercegovina 51 Croatia Privredna Banka Zagreb 199 Czech Republic VUB Banka 1 Hungary CIB Bank 95 Ireland Intesa Sanpaolo Bank Ireland 1 Luxembourg Banca Fideuram 1 Société Européenne de Banque (SEB) 1 Romania Intesa Sanpaolo Bank Romania 71 Russian Federation Banca Intesa 62 Serbia Banca Intesa Beograd 191 Slovakia VUB Banka 232 Slovenia Banka Koper 52 Switzerland Intesa Sanpaolo Private Bank (Suisse) 1 Ukraine Pravex-Bank(3) 234 United Kingdom Banca IMI 1 AFRICA Representative Offices Country Subsidiaries Branches Figures as at 30 September 2014 Cairo Egypt Bank of Alexandria 170 (1) Branch of Italian subsidiary Banca di Trento e Bolzano (2) International Regulatory and Antitrust Affairs and Intesa Sanpaolo Eurodesk Casablanca (3) In January 2014 an agreement was signed for the sale of 100% of Pravex-Bank. Tunis Finalisation of the transaction is subject to regulatory approval Product Companies Consumer Credit, E-money and Payment Systems Asset Management Leasing Insurance WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 9 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 Supervisory Board, Management Board, Manager responsible for preparing the Company’s financial reports and Independent Auditors Supervisory Board Chairman Giovanni BAZOLI Deputy Chairpersons Mario BERTOLISSI Gianfranco CARBONATO Members Gianluigi BACCOLINI Francesco BIANCHI Rosalba CASIRAGHI Carlo CORRADINI Franco DALLA SEGA Piergiuseppe DOLCINI Jean-Paul FITOUSSI Edoardo GAFFEO Pietro GARIBALDI Rossella LOCATELLI Giulio Stefano LUBATTI Marco MANGIAGALLI Iacopo MAZZEI Beatrice RAMASCO Marcella SARALE Monica SCHIRALDI Management Board Chairman Gian Maria GROS-PIETRO Senior Deputy Chairperson Marcello SALA Deputy Chairperson Giovanni COSTA Managing Director and Chief Executive Officer Carlo MESSINA (*) Members Stefano DEL PUNTA Carla Patrizia FERRARI Piera FILIPPI Gaetano MICCICHE’ (*) Giuseppe MORBIDELLI Bruno PICCA Manager responsible for preparing the Company’s financial reports Ernesto RIVA Independent Auditors KPMG S.p.A. (*) General Managers WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 11 11 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 Overview of the nine months of 2014 WorldReginfo - 72fcf2e3-bb0c-405e-a189-48a67d4722c3 13 Income statement figures and alternative performance measures Changes Consolidated income statement figures (millions of euro) amount % Net interest income 6,314 236 3.9 6,078 4,960 Net fee and commission income 448 9.9 4,512 696 -36.1 Profits (losses) on trading 1,090 -394 Income from insurance business 736 88 13.6 648 Operating income 12,771 454 3.7 12,317 -6,198 Operating costs 88 1.4 -6,110 Operating margin 6,573 366 5.9 6,207 Net adjustments to loans -3,504 -509 -12.7 -4,013 Income / Loss from discontinued operations -33 6 22.2 -27 Net income (loss) 1,203 563 88.0 640 Quarterly development of main consolidated income statement figures (millions of euro) Operating income Operating costs Operating margin Net income (loss) 0 12,771 4,206 4,457 6,198 0 2,139 0 6,573 2,045 2,067 4,108 2,412 2,086 2,022 0 503 217 483 1,203 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY Main income statement figures by business area (millions of euro) Operating income Operating
Load more

Recommended publications
  • 1 Banche E Intermediari Finanziari Di Cui All'art. 106
    BANCHE E INTERMEDIARI FINANZIARI DI CUI ALL’ART. 106 DEL D.LGS 1 SETTEMBRE 1993, N. 385 ADERENTI ALLA CONVENZIONE ABI – MINISTERO DELL’ECONOMIA E DELLE FINANZE PER LA RINEGOZIAZIONE DEI MUTUI EX ART. 3 DL. N. 93/2008 Banche / Intermediari aderenti Condizioni Migliorative Offerte alla Clientela 1) estensione della rineg.a tutti i mutui a tasso misto B@nca 24-7 S.p.A. Banca Adige Po Credito Cooperativo Lusia Banca Agricola Mantovana S.p.A. Banca Agricola Popolare di Ragusa Banca Alpi Marittime Credito Cooperativo Carrù Scpa Banca Alto Vicentino Credito Cooperativo Scpa - Schio Banca Antonveneta Banca Apuana- Credito Cooperativo di Massa Carrara Banca Capasso Antonio S.P.A. estensione della rinegoziazione alle seguenti tipologie di mutui: - mutui con tasso massimo prefissato; - mutui a tasso fisso per la durata iniziale di due anni e poi variabile; Banca Carige S.p.A. Cassa di Risparmio - mutui a tasso “bilanciato” (due piani di ammortamento, uno a tasso fisso ed uno a tasso variabile, ciascuno di Genova e Imperia applicato ad una parte prefissata del mutuo); - estendere la predetta rinegoziazione ai mutui a tasso variabile e rata variabile ed alle tipologie di mutui sopra indicate oggetto di operazioni di cartolarizzazione con cessione di crediti a società veicolo. Banca Carim Cassa di Risparmio di Rimini 1 1) estensione della rineg.a tutti i mutui a tasso misto Banca Carime S.p.A. 2) azzeramento dello spread previsto art.3 comma 2 Conv.quale maggiorazione del tasso IRS 10Y l’adesione alla convenzione ha validità anche con riferimento ai Banca Caripe mutui oggetto di cartolarizzazione Banca Cassa di Risparmio di Savigliano S.p.A.
    [Show full text]
  • Banche Aderenti F24(1)
    BANCHE ADERENTI AL SERVIZIO PAGAMENTO F24 REMOTE BANKING - C.B.I. Aggiornato al 30 agosto 2006 e contenente anche le banche che aderiranno a partire dal mese di settembre 2006 Sono evidenziate in grigio le ultime banche aderenti Data Attivazione Data Attivazione CODICE come Banca Banca come Banca Banca N° ABI BANCA Passiva Passiva Proponente Proponente 1 01005 BANCA NAZIONALE DEL LAVORO SPA 04/11/2003 X 2 01010 BANCO DI NAPOLI S.P.A. 02/09/2003 X 02/09/2003 X 3 01015 BANCO DI SARDEGNA SPA. 01/07/2004 X 01/07/2004 X 4 01020 BANCO DI SICILIA S.P.A. 02/12/2003 X 01/02/2005 X 5 01025 SANPAOLO - IMI SPA 12/08/2002 X 12/08/2002 X 6 01030 BANCA MONTE DEI PASCHI DI SIENA SPA 03/01/2003 X 03/01/2003 X 7 02008 BANCA UNICREDIT BANCA SPA 04/11/2003 X 03/02/2004 X 8 03002 BANCA DI ROMA SPA 04/11/2003 X 01/07/2005 X 9 03011 HYPO ALPE ADRIA BANK ITALIA SPA 08/01/2004 X 08/01/2004 X 10 03018 NOVA LJUBLIANSKA BANKA 03/11/2004 X 03/11/2004 X 11 03019 BANCA REGIONALE SANT'ANGELO(cr. Siciliano) 03/09/2002 X 12 03031 BANCA DI BERGAMO SPA 08/01/2004 X 08/01/2004 X 13 03032 CREDITO EMILIANO spa 12/08/2002 X 12/08/2002 X 14 03035 BANCA DEL GARDA GARDA BANK SPA 01/06/2005 X 01/06/2005 X 15 03048 BANCA DEL PIEMONTE 01/10/2003 X 01/10/2003 X 16 03049 BANCA ARDITI GALATI 03/02/2004 X 17 03053 BANCAPERTA SPA 03/09/2002 X 18 03067 BANCA CARIME SPA 03/02/2004 X 02/08/2005 X 19 03069 BANCA INTESA 04/11/2003 X 02/03/2004 X 20 03075 BANCA GENERALI SPA 03/08/2004 X 03/08/2004 X 21 03078 BANCA DELL'ARTIGIANATO E DELL'INDUSTRIA 03/09/2002 X 22 03083 BANCA LOMBARDA PRIVATE INVESTMENT 03/11/2004 X 23 03098 BANCA C.
    [Show full text]
  • Abruzzo 2015 Sme S.R.L
    PROSPECTUS DATED 11 AUGUST 2015 ABRUZZO 2015 SME S.R.L. (incorporated with limited liability under the laws of the Republic of Italy) €322,900,000 Class A Asset Backed Floating Rate Notes due November 2065 Issue Price: 100 per cent This prospectus (the “Prospectus” or the “Offering Circular”) contains information relating to the issue by Abruzzo 2015 SME S.r.l., a limited liability company organised under the laws of the Republic of Italy (the “Issuer”) of the €322,900,000 Class A Asset Backed Floating Rate Notes due November 2065 (the “Class A Notes” or the “Senior Notes”). In connection with the issuance of the Senior Notes, the Issuer will issue two classes of junior notes as follows: €154,920,000 Class J1 Asset Backed Floating Rate and Additional Return Notes due November 2065 (the “Class J1 Notes”) and the €79,205,000 Class J2 Asset Backed Floating Rate and Additional Return Notes due November 2065 (the “Class J2 Notes” and together with the Class J1 Notes, the “Class J Notes” or the “Junior Notes and, together with the Senior Notes, the “Notes”). The Class J Notes are not being offered pursuant to this Prospectus. This Prospectus is issued pursuant to article 2, paragraph 3, of Italian Law number 130 of 30 April 1999 (“Law 130” or also the “Securitisation Law”) in connection with the issuance of the Notes. This Prospectus is a prospectus with regard to Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 (as amended, the “Prospectus Directive”) including any implementing measure in Ireland.
    [Show full text]
  • Lista Nominativa Degli Aderenti Diretti Autorizzati Alla Fase Di Compilazione Della Convenzione Con L’Ente Gestore (Art
    Lista nominativa degli aderenti diretti autorizzati alla fase di compilazione della convenzione con l’ente gestore (art. 4, comma 2, D.M. 19 maggio 2014, n.95) Data di aggiornamento 16-02-2015 n. Denominazione- Ragione Sociale Categoria aderente Sede legale - Indirizzo CAP Città Prov. 1 Aareal Bank AG - Filiale Italia a) Banche ed intermediari finanziari Via Saverio Mercadante, 12/14 00198 Roma RM 2 ABC International Bank Plc a) Banche ed intermediari finanziari Via Amedei N. 8 20123 Milano MI 3 Acantho S.p.A. b) Fornitori di servizi di comunicazione Via Molino Rosso, 8 40026 Imola BO elettronica 4 ACQUISTO E RECUPERO CREDITI ARCRE SPA a) Banche ed intermediari finanziari PIAZZETTA GUASTALLA 11 20122 MILANO MI 5 ADV FINANCE S.P.A. a) Banche ed intermediari finanziari VIA MOLINO DELLE ARMI 4 20123 MILANO MI 6 Agata SPA a) Banche ed intermediari finanziari piazza mascagni, 9 10015 IVREA TO 7 AGORA' SPA a) Banche ed intermediari finanziari VIA A. FABI C.DA CASALE RICCI N. 70 03100 FROSINONE FR 8 Agos Ducato S.p.A. a) Banche ed intermediari finanziari Via Bernina, n°7 20158 Milano MI 9 akf bank GmbH & Co KG Succursale Italiana a) Banche ed intermediari finanziari Via Vittorio Locchi, 1 20156 Milano MI 10 ALBA FINANZIARIA SPA a) Banche ed intermediari finanziari CORDERO DI PAMPARATO 15 10143 TORINO TO 11 Alba Leasing SpA a) Banche ed intermediari finanziari Via Sile, 18 20139 Milano MI 12 ALCA FINANZIARIA S.P.A. a) Banche ed intermediari finanziari CORSO ARNALDO LUCCI N. 145 80142 NAPOLI NA 13 A-LEASING SPA a) Banche ed intermediari finanziari Piazza delle Istituzioni, 27 H 31100 Treviso TV 14 ALETTI & C.
    [Show full text]
  • Programme Information Intesa Sanpaolo S.P.A. Intesa Sanpaolo
    Programme Information Intesa Sanpaolo S.p.A. Intesa Sanpaolo Bank Ireland p.l.c. Intesa Sanpaolo Bank Luxembourg S.A. 529456-4-3070-v1.0 - 1- 15-40637093 PROGRAMME INFORMATION Type of Information: Programme Information Date of Announcement: 16 February 2018 Issuer Name: (1) Intesa Sanpaolo S.p.A. ("Intesa Sanpaolo") (2) Intesa Sanpaolo Bank Ireland p.l.c. ("INSPIRE") (3) Intesa Sanpaolo Bank Luxembourg S.A. ("Intesa Luxembourg") Name and Title of Representative: (1) Intesa Sanpaolo: Fabio Francesco Ferrari, Head of MLT Finance Division (2) INSPIRE: Davide De Marco, Deputy General Manager (3) Intesa Luxembourg: Ferdinando Angeletti, Managing Director and CEO Georges Hilbert, Deputy Head of Operations Address of Head Office: (1) Intesa Sanpaolo: Piazza San Carlo, 156, 10121 Turin, Italy (2) INSPIRE: 2nd Floor, International House, 3 Harbourmaster Place, IFSC, Dublin 1, Ireland (3) Intesa Luxembourg: 19-21, Boulevard Prince Henri, L-1724 Luxembourg, Grand Duchy of Luxembourg Telephone: (1) Intesa Sanpaolo: +39-011-5551 (2) INSPIRE: +353-1672-6720 (3) Intesa Luxembourg: +352-461-411-388 Contact Person: Attorneys-in-Fact: Eiichi Kanda, Attorney-at-law Chihiro Ashizawa, Attorney-at-law Yuri Higashi, Attorney-at-law Clifford Chance Law Office (Gaikokuho Kyodo Jigyo) Address: Palace Building, 3rd floor 1-1, Marunouchi 1-chome Chiyoda-ku, Tokyo 100-0005 Japan Telephone: +81-3-6632-6600 Type of Securities: Notes (the "Notes") Scheduled Issuance Period: 17 February 2018 to 16 February 2019 Maximum Outstanding Issuance Amount: €70,000,000,000 Address of Website for Announcement: http://www.jpx.co.jp/english/equities/products/tpbm/announcem ent/index.html Guarantor Name (for issues by INSPIRE Intesa Sanpaolo S.p.A.
    [Show full text]
  • State Aid SA.39451 (2015/C) (Ex 2015/NN) - State Support to Banca Tercas - Italy
    EUROPEAN COMMISSION Brussels,27.02.2015 C(2015) 1404 final In the published version of this decision, some PUBLIC VERSION information has been omitted, pursuant to articles 24 and 25 of Council Regulation (EC) This document is made available for No 659/1999 of 22 March 1999 laying down information purposes only. detailed rules for the application of Article 93 of the EC Treaty, concerning non-disclosure of information covered by professional secrecy. The omissions are shown thus […]. Subject: State aid SA.39451 (2015/C) (ex 2015/NN) - State support to Banca Tercas - Italy Sir, The Commission wishes to inform Italy that, having examined the information supplied by your authorities on the aid measures referred to above, it has decided to initiate the procedure laid down in Article 108(2) of the Treaty on the Functioning of the European Union. 1. PROCEDURE 1) On 16 September 2014, following an informal request of the Commission of 8 August 2014, the Italian authorities sent a brief presentation of the support interventions granted by the Italian deposit guarantee scheme ("DGS") – i.e. the "Fondo Interbancario di Tutela dei Depositi" ("FITD")1 – in favour of the bank Tercas-Cassa di Risparmio della Provincia di Teramo S.p.A. 1 The FITD is officially recognised by the Bank of Italy ("BOI") as a DGS under Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes (OJ L 135, 31.5.1994, p. 5). It has the legal form of a consortium governed by private law, the Italian Banking Act ("Testo Unico Minister Paolo GENTILONI Ministry of Foreign Affairs Piazzale della Farnesina, 1 00135 Rome Commission européenne, B-1049 Bruxelles – Belgique Europese Commissie, B-1049 Brussel – België Telefon: 00 32 (0) 2 299.11.11 2) On 10 October 2014, the Commission sent a request for information to the Italian authorities to better understand the terms of such interventions of the FITD2, to which Italy replied on 14 November 2014.
    [Show full text]
  • CNT-05-00000004FCB23.Pdf
    The date of this Prospectus is 18 December 2017 IMPORTANT INFORMATION This Prospectus comprises a base prospectus for each Issuer for the purposes of Article 5.4 of the Prospectus Directive. Any person (an "Investor") intending to acquire or acquiring any securities from any person (an "Offeror") should be aware that, in the context of an offer to the public as defined in the Prospectus Directive, the Issuer may be responsible to the Investor for the Prospectus only if the Issuer is acting in association with that Offeror to make the offer to the Investor. Each Investor should therefore verify with the Offeror whether or not the Offeror is acting in association with the Issuer. If the Offeror is not acting in association with the Issuer, the Investor should check with the Offeror whether anyone is responsible for the Prospectus for the purposes of Article 6 of the Prospectus Directive as implemented by the national legislation of each EEA Member State in the context of the offer to the public, and, if so, who that person is. If the Investor is in any doubt about whether it can rely on the Prospectus and/or who is responsible for its contents it should seek legal advice. Intesa Sanpaolo, INSPIRE and Intesa Luxembourg accept responsibility for the information contained in this document. To the best of the knowledge of each of Intesa Sanpaolo, INSPIRE and Intesa Luxembourg, having taken all reasonable care to ensure that such is the case, the information contained in this document is in accordance with the facts and does not omit anything likely to affect the import of such information.
    [Show full text]
  • COMMISSIONE EUROPEA Bruxelles, 23.12.2015 C(2015) 9526 Final
    COMMISSIONE EUROPEA Bruxelles, 23.12.2015 C(2015) 9526 final DECISIONE DELLA COMMISSIONE del 23.12.2015 RELATIVA ALL’AIUTO DI STATO SA.39451 (2015/C) (ex 2015/NN) cui l’Italia ha dato esecuzione a favore di Banca Tercas (Testo rilevante ai fini del SEE) (Il testo in lingua italiana è il solo facente fede) IT 1 IT DECISIONE DELLA COMMISSIONE del 23.12.2015 RELATIVA ALL’AIUTO DI STATO SA.39451 (2015/C) (ex 2015/NN) cui l’Italia ha dato esecuzione a favore di Banca Tercas (Testo rilevante ai fini del SEE) (Il testo in lingua italiana è il solo facente fede) Nella versione pubblicata della presente VERSIONE PUBBLICA decisione sono state omesse alcune informazioni ai sensi degli articoli 30 e 31 del Il presente documento è un documento regolamento (UE) 2015/1589 del Consiglio, interno della Commissione ed ha carattere del 13 luglio 2015, recante modalità di esclusivamente informativo. applicazione dell'articolo 108 del trattato sul funzionamento dell'Unione europea, relativi al divieto di divulgazione di informazioni protette da segreto professionale. Le omissioni sono indicate nel seguente modo: […]. LA COMMISSIONE EUROPEA, visto il trattato sul funzionamento dell’Unione europea, in particolare l’articolo 108, paragrafo 2, primo comma, visto l’accordo sullo Spazio economico europeo, in particolare l’articolo 62, paragrafo 1, lettera a), dopo aver invitato gli interessati a presentare osservazioni a norma della disposizione o delle disposizioni succitate1, considerando quanto segue: 1. PROCEDIMENTO (1) La Commissione è venuta a sapere dalla stampa e tramite le pagine web della banca Tercas-Cassa di Risparmio della Provincia di Teramo S.p.A.
    [Show full text]
  • 1404 Final Oggetto: Aiuto Di Stato SA.39451 (2015/C)
    COMMISSIONE EUROPEA Bruxelles, 27.02.2015 C(2015) 1404 final Nella versione pubblicata della presente VERSIONE PUBBLICA decisione, sono state omesse alcune informazioni, ai sensi degli articoli 24 e 25 Il presente documento è un documento del regolamento (CE) n. 659/1999 del Consiglio del 22 marzo 1999 recante modalità interno della Commissione ed ha carattere di applicazione dell'articolo 93 del trattato esclusivamente informativo. CE, relativi al divieto di divulgazione di informazioni protette dal segreto professionale. Le omissioni sono pertanto indicate nel seguente modo: […]. Oggetto: Aiuto di Stato SA.39451 (2015/C) (ex 2015/NN) Sostegno dello Stato a Banca Tercas - Italia Signor Ministro, la Commissione, esaminate le informazioni fornite dalle autorità italiane in merito alle misure di aiuto di Stato di cui all’oggetto, informa l’Italia della sua decisione di avviare il procedimento di cui all’articolo 108, paragrafo 2, del trattato sul funzionamento dell’Unione europea. 1. PROCEDIMENTO 1) Il 16 settembre 2014, in seguito ad una richiesta informale della Commissione dell’8 agosto 2014, le autorità italiane hanno inviato una breve descrizione degli interventi di sostegno concessi dal sistema di garanzia dei depositi italiano, ossia il Fondo Interbancario di Tutela dei Depositi (“FITD”)1, a favore della banca Tercas - Cassa di Risparmio della Provincia di Teramo S.p.A. 1 Il FITD è ufficialmente riconosciuto dalla Banca d’Italia come sistema di garanzia dei depositi ai sensi della direttiva 94/19/CE del Parlamento europeo e del Consiglio, del 30 maggio 1994, relativa ai sistemi di S.E. Ministro Paolo GENTILONI Ministero degli Affari esteri Piazzale della Farnesina, 1 00135 Roma Commission européenne, B-1049 Bruxelles – Belgique Europese Commissie, B-1049 Brussel – België Telefono: 00 32 (0) 2 299.11.11 2) Il 10 ottobre 2104, la Commissione ha trasmesso una richiesta di informazioni alle autorità italiane al fine di comprendere meglio i termini di tali interventi del FITD2.
    [Show full text]
  • Banco Popolare Società Cooperativa, Banca Popolare Di Milano S.C.A.R.L
    FINANCIAL INSTITUTIONS ISSUER COMMENT Banco Popolare Società Cooperativa, Banca 24 March 2016 Popolare di Milano S.C.a.r.l. Merger Between Banco Popolare and BPM Has Long-Term Positive Credit Implications RATINGS Banco Popolare Società Cooperativa Summary Baseline Credit Assessment b2 On March 23, 2016, the boards of Banco Popolare Società Cooperativa (Banco, Ba2/Ba3 Bank Deposits Ba2 Stable/NP 1 Senior Unsecured Ba3 Stable stable, b2 ) and Banca Popolare di Milano S.C.a.r.l. (BPM, Ba2 stable/Ba3 negative, b2) Counterparty Risk Assessment Ba2(cr)/NP(cr) published a joint press release indicating the two banks agreed to merge by the end of 2016. Banca Popolare di Milano S.C.a r.l We believe that the merger, which is still subject to several approvals, will have long-term Baseline Credit Assessment b2 positive implications for the banks and for the Italian banking system. A combined Banco- Bank Deposits Ba2 Stable/NP Senior Unsecured Ba3 Negative BPM – which will become the third largest player in Italy – will be able to weather a more Counterparty Risk Assessment Ba2(cr)/NP(cr) competitive banking environment at a time when banks face profitability challenges, tougher regulatory constraints and also have to cope with the challenges of digital banking that will require substantial investment. The merger will include an equity capital increase of €1 billion, the proceeds of which will be used to increase the coverage of problem loans up to 49% from 44%; this is credit positive for the senior debt and deposit ratings on both CLIENT SERVICES institutions, in our view.
    [Show full text]
  • Report and Parent Company's Financial Statements
    Report and Parent Company’s financial statements Report on operations 471 Intesa Sanpaolo – Financial highlights and alternative performance measures Income statement figures (millions of euro) Changes amount % Net interest income 2,181 316 16.9 1,865 2,514 Net fee and commission income 190 8.2 2,324 Profits (losses) on trading 218 -443 -67.0 661 Operating income 7,307 280 4.0 7,027 Operating costs -3,715 106 2.9 -3,609 Operating margin 3,592 174 5.1 3,418 -1,684 Net adjustments to loans -1,022 -37.8 -2,706 Net income (loss) 1,213 5,087 -3,874 Balance sheet figures (millions of euro) Changes amount % 168,631 Loans to customers -5,435 -3.1 174,066 220,836 Direct customer deposits -4,903 -2.2 225,739 156,729 Indirect customer deposits: 146,919 9,810 6.7 90,576 of which: Assets under management 74,678 15,898 21.3 400,750 Total assets 1,548 0.4 399,202 40,382 Shareholders' equity 619 1.6 39,763 Operating structure 2014 2013 Changes amount Number of employees 27,991 27,351 640 Italy 27,468 26,831 637 Abroad 523 520 3 Number of branches 1,956 1,889 67 Italy 1,942 1,876 66 Abroad 14 13 1 Figures restated on a consistent basis. 2014 2013 472 472 Profitability ratios (%) Cost / Income 50.8 51.4 2.9 Net income / Average shareholders' equity (ROE) (a) n.m. 0.3 Net income / Total assets (ROA) -1.0 Risk ratios (%) 3.2 Net doubtful loans / Loans to customers 2.3 Cumulated adjustments on doubtful loans / 63.3 Gross doubtful loans to customers 62.7 Capital ratios (%) (b) Common Equity Tier 1 capital (CET1) net of regulatory adjustments/Risk- 20.8 weighted assets (Common Equity Tier 1 capital ratio) TIER 1 Capital / Risk-weighted assets 21.9 Total owns funds / Risk-weighted assets 26.8 181,288 Risk-weighted assets (millions of euro) - Figures restated on a consistent basis.
    [Show full text]
  • INTESA SANPAOLO S.P.A. (Incorporated As a Società Per Azioni in the Republic of Italy)
    PROSPECTUS DATED 15 MAY 2017 INTESA SANPAOLO S.P.A. (incorporated as a società per azioni in the Republic of Italy) €750,000,000 6.25% Additional Tier 1 Notes The €750,000,000 6.25% Additional Tier 1 Notes (the “Notes”) are issued by Intesa Sanpaolo S.p.A. (the “Issuer”) in denominations of €200,000 and integral multiples of €1,000 in excess thereof, up to (and including) €399,000. The Issue Price of the Notes is 100.0 per cent. The Notes will bear interest at their Outstanding Principal Amount (as defined in Condition 2 (Definitions and Interpretation) of the terms and conditions of the Notes (the “Conditions” and, each of them, a “Condition”), on a non-cumulative basis subject to cancellation as described below, semi-annually in arrear on 16 May and 16 November in each year (each, an “Interest Payment Date”). The rate of interest through to (and excluding) 16 May 2024 (the “First Reset Date”) will be 6.25 per cent. per annum. The rate of interest will be reset on the First Reset Date and on each 5-year anniversary thereafter (each, a “Reset Date”). Interest on the Notes will be due and payable only at the sole discretion of the Issuer, and the Issuer shall have sole and absolute discretion at all times and for any reason to cancel (in whole or in part) for an unlimited period and on a non-cumulative basis any interest payment that would otherwise be payable on any Interest Payment Date. In addition, the Issuer shall not make an interest payment of the Notes on any Interest Payment Date (and such interest payment shall therefore be deemed to have been cancelled and thus shall not be due and payable on such Interest Payment Date) in the circumstances described in Condition 6.2 (Restriction on interest payments).
    [Show full text]