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ANNUAL REPORT 2009 Worldreginfo - 43142Dc3-F943-4537-A6a6-426F6fea5e12 Annual Report for Financial Year 2009 Worldreginfo - 43142Dc3-F943-4537-A6a6-426F6fea5e12

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ANNUAL REPORT 2009 Worldreginfo - 43142Dc3-F943-4537-A6a6-426F6fea5e12 Annual Report for Financial Year 2009 Worldreginfo - 43142Dc3-F943-4537-A6a6-426F6fea5e12 ANNUAL REPORT 2009 WorldReginfo - 43142dc3-f943-4537-a6a6-426f6fea5e12 Annual Report for financial Year 2009 WorldReginfo - 43142dc3-f943-4537-a6a6-426f6fea5e12 Banco Popolare Società Cooperativa Registered office and Headquarters: Piazza Nogara, 2 - 37121 Verona Share Capital as at 31st December 2009: euro 2,305,735,923.60 fully paid Tax code, VAT no. and Registration no. in the Verona Enterprise Registry: 03700430238 Member of the Interbank Fund for Deposit Protection and of the National Guarantee Fund Parent company of Gruppo Bancario Banco Popolare Registered in the Banking Groups Registry 2 WorldReginfo - 43142dc3-f943-4537-a6a6-426f6fea5e12 CORPORATE BOARDS, MANAGEMENT AND AUDITING COMPANY AS AT 31 DECEMBER 2009 Supervisory Board Chairman Carlo Fratta Pasini Deputy Vice Chairman Dino Piero Giarda Vice Chairman Maurizio Comoli (*) Directors Marco Boroli (*) Giuliano Buffelli (*) Guido Duccio Castellotti Costantino Coccoli (*) Gabriele Camillo Erba (*) Gianni Filippa (*) Andrea Guidi (*) Pietro Manzonetto (*) Maurizio Marino (*) Mario Minoja (*) Gian Luca Rana (*) Claudio Rangoni Machiavelli (*) Fabio Ravanelli (*) Alfonso Sonato (*) Angelo Squintani (*) Sandro Veronesi (*) Tommaso Zanini (*) (*) Independent directors under art. 6 of the Corporate Governance Code adopted by Banco Popolare Management Board Chairman Vittorio Coda Chief Executive Officer and Vice Chairman Pier Francesco Saviotti Directors Franco Baronio Alfredo Cariello Aldo Civaschi (**) Luigi Corsi (**) Domenico De Angelis Maurizio Di Maio Maurizio Faroni Giorgio Papa Roberto Romanin Jacur (**) Andrea Sironi (**) (**)Independent directors under art. 6 of the Corporate Governance Code adopted by Banco Popolare Board of Advisors Standing Marco Cicogna Luciano Codini Giuseppe Bussi Alternate Aldo Bulgarelli Attilio Garbelli Manager in charge of preparing corporate financial reports Gianpietro Val Auditing firm Reconta Ernst & Young S.p.A. 3 WorldReginfo - 43142dc3-f943-4537-a6a6-426f6fea5e12 4 WorldReginfo - 43142dc3-f943-4537-a6a6-426f6fea5e12 TABLE OF CONTENTS Notice to convene ........................................................................................................................................................... 7 EXECUTIVE REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR Group Structure ............................................................................................................................................................. 12 Group Geographical Network ........................................................................................................................................ 14 Group financial highlights and ratios ............................................................................................................................. 16 Report on Group operations .............................................................................................................................................. 19 Economic backdrop ........................................................................................................................................................ 21 Noteworthy events for the year ....................................................................................................................................... 23 Banking activities ............................................................................................................................................................ 34 Banche del Territorio - Retail Banks ............................................................................................................................. 34 Investment & Private Banking, Asset Management ....................................................................................................... 56 Leasing and Factoring .................................................................................................................................................. 66 Corporate Center and Other ........................................................................................................................................ 67 Results ........................................................................................................................................................................... 73 Credit intermediation ................................................................................................................................................... 78 Financial assets ............................................................................................................................................................ 83 Investments in associates and companies subject to join control .................................................................................. 84 Shareholders’ equity and solvency ratios ...................................................................................................................... 85 Consolidated income statement ................................................................................................................................... 86 Rating and stock performance ..................................................................................................................................... 90 Risk management ........................................................................................................................................................... 92 Planning, auditing and service activities ........................................................................................................................ 103 Human resources ...................................................................................................................................................... 103 Internal audit ............................................................................................................................................................. 108 Compliance ............................................................................................................................................................... 109 Technological and administrative services .................................................................................................................. 109 Technological investments and projects ..................................................................................................................... 114 Communications ....................................................................................................................................................... 122 Performance of the main Companies of the Group ........................................................................................................ 125 Mutuality and shareholders initiatives ........................................................................................................................... 152 Operational outlook ..................................................................................................................................................... 166 Declaration of the Chief Executive Officer and of the Manager responsible for preparing corporate financial reports .... 169 Independent Auditors’ Report on the consolidated financial statements .......................................................................... 173 Consolidated financial statements ................................................................................................................................... 177 Consolidated Balance sheet .......................................................................................................................................... 178 Consolidated Income statement .................................................................................................................................... 179 Statement of Consolidated Comprehensive Income ....................................................................................................... 180 Statement of Changes in consolidated Shareholders’ Equity........................................................................................... 181 Consolidated statement of cash flows ............................................................................................................................ 183 Notes to the consolidated financial statements ................................................................................................................ 185 Section A – Accounting policies .................................................................................................................................. 186 Section B – Information on the consolidated Balance sheet ......................................................................................... 224 Section C – Information on the consolidated Income statement ................................................................................... 272 Section D – Consolidated comprehensive income ....................................................................................................... 288 Section E – Information on risks and relative hedging policies ..................................................................................... 289 Section F – Information on consolidated capital .......................................................................................................... 357 Section G – Business combinations ............................................................................................................................
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