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Interim Report on Operations

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Interim Report on Operations Resoconto Intermedio di Gestione www.bancopopolare.it Interim report on operations a 3 1 s at 0 September 20 3 WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa Interim report on operations as at 30 September 2013 WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa Banco Popolare Società Cooperativa Registered office and General headquarters: Piazza Nogara, 2 - 37121 Verona Fully paid up share capital as at 30 September 2013: euro 4,294,149,652.83 Tax Code, VAT No. and Verona Companies’ Register Enrolment No. 03700430238 Member of the Interbank Deposit Guarantee Fund and the National Guarantee Fund Parent Company of the Banco Popolare Banking Group Enrolled in the register of Banking Groups 2 WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa OFFICERS, DIRECTORS AND INDEPENDENT AUDITORS AS AT 30 SEPTEMBER 2013 Board of Directors Chairman Carlo Fratta Pasini (*) Deputy Chairman Guido Castellotti (*) Deputy Chairman Maurizio Comoli (*) Managing Director Pier Francesco Saviotti (*) Directors Alberto Bauli Angelo Benelli Pietro Buzzi Aldo Civaschi Vittorio Coda Giovanni Francesco Curioni Domenico De Angelis (*) Maurizio Faroni (*) Gianni Filippa Andrea Guidi Valter Lazzari Maurizio Marino Enrico Perotti Gian Luca Rana Claudio Rangoni Machiavelli Fabio Ravanelli Sandro Veronesi Tommaso Zanini Cristina Zucchetti (*) members of the Executive Committee Board of Statutory Auditors Chairman Pietro Manzonetto Standing Auditors Giuliano Buffelli Maurizio Calderini Gabriele Camillo Erba Alfonso Sonato Alternate Auditors Marco Bronzato Carlo Sella General Management General Manager Maurizio Faroni Joint General Manager Domenico De Angelis Ethics and Disciplinary Committee Standing members Aldo Bulgarelli Luciano Codini Giuseppe Germani Alternate members Matteo Bonetti Donato Vestita Manager responsible for preparing the Company’s financial reports Gianpietro Val Independent Auditors Reconta Ernst & Young S.p.A. 3 WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa This interim report on operations may contain forecasts and estimates which reflect the current opinions of Banca Popolare management as regards future events. These forecasts and estimates may include information other than actuals, relating to the future financial situation of Banco Popolare and of the Group and to the relative operating results, strategy, plans, objectives and to future developments in markets in which Banco Popolare and the Group operate or intend to operate. The information contained in this interim report on operations cannot, in any way, be construed as investment advice. Banco Popolare and its representatives decline any liability generated in any way by said information and/or regarding any losses resulting from the use of the same. Forecasts and estimates entail risks and uncertainties that may have a significant impact on the results expected. Given said uncertainties and risks, the reader should not rely excessively on the fact that the information shown in forecasts represents a prediction of actual results. Forecasts and estimates are based on information available to Banco Popolare as at today’s date. Banco Popolare is not obliged to publicly update or revise forecasts and estimates if new information on future events or other becomes available, with the exception of compliance with applicable laws. 4 WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa CONTENTS Group structure.................................................................................................................................................................... 6 Group territorial network...................................................................................................................................................... 8 Group financial highlights .................................................................................................................................................. 10 Notes to the Interim report on operations ........................................................................................................................... 12 Operating performance of the Group.................................................................................................................................. 17 Results ............................................................................................................................................................................... 25 Risk management............................................................................................................................................................... 52 Other information .............................................................................................................................................................. 65 Key financial highlights of the main Group companies ....................................................................................................... 66 Significant events after the end of the period ...................................................................................................................... 66 Outlook for business operations ......................................................................................................................................... 68 Declaration of the Manager responsible for preparing the Company’s financial reports....................................................... 69 Attachments ....................................................................................................................................................................... 71 5 WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa GROUP STRUCTURE: MAIN COMPANIES 77.% 62.6% 82.4% CREDITO BERGAMASCO BANCA ALETTI BANCA ITALEASE BP CROATIA 98.2% 20.9% 2.9% BP LUXEMBOURG 100% 16.5% 14.7% 80% 100% BP PROPERTY ALETTI GESTIELLE SGR RELEASE 100% MANAGEMENT 100% ITALEASE SOCIETÀ 100% GESTIONE BENI GESTIONE SERVIZI 32.8% ALBA LEASING BIPIELLE REAL ESTATE 100% TECKMARKET 100% HOLDING DI 100% PARTECIPAZIONI AGOS DUCATO 39.0% 24.4% POPOLARE VITA 25.6% 49.9% AVIPOP ASSICURAZIONI WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa GROUP STRUCTURE: BUSINESS LINES INVESTMENT & PRIVATE BANKING, CORPORATE CENTRE NETWORK DIVISIONS ASSET MANAGEMENT LEASING AND OTHER BANCO POPOLARE BANCA ALETTI BANCA ITALEASE BANCO POPOLARE BPV division Group functions (North East) • Group Finance BPL division ALETTI GESTIELLE SGR RELEASE • Securities portfolio (North and Centre) • Institutional funding BPN division • Custodian bank (North West, Centre ASSOCIATED and South) COMPANIES FOREIGN BANKS • Alba Leasing CREDITO BERGAMASCO PRODUCT AND REAL ESTATE COMPANIES • Società Gestione Servizi • Bipielle Real Estate ASSOCIATED COMPANIES • Agos Ducato • Popolare Vita • Avipop Assicurazioni The BPV division works with the trademarks: Banca Popolare di Verona, Banco S. Geminiano e S. Prospero, Banco S. Marco, Banca Popolare del Trentino and Cassa di Risparmio di Imola. The BPL division works with the trademarks: Banca Popolare di Lodi, Cassa di Risparmio di Lucca Pisa e Livorno, Banco di Chiavari e della Riviera Ligure, Banca Popolare di Cremona and Banca Popolare di Crema. The BPN division works with the trademarks: Banca Popolare di Novara and Banco Popolare Siciliano. WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa GROUP TERRITORIAL NETWORK Division General Management and Operational Headquarters Division Territorial Department Banco S.Geminiano e S.Prospero (Modena) Division Territorial Department Centre South (Rome) Division Territorial Department Cassa di Risparmio Geographical breakdown of Group branches di Lucca Pisa Livorno (Lucca) Banca Popolare di Verona Banca Popolare di Lodi Banco S.Geminiano e S.Prospero Cassa di Risparmio di Lucca Pisa Livorno Banco San Marco Banco di Chiavari e della Riviera Ligure Banca Popolare del Trentino Banca Popolare di Cremona Cassa di Risparmio di Imola Banca Popolare di Crema Banca Popolare di Novara Multi trademark areas Banco Popolare Siciliano Figures as at 30 September 2013 Credito Bergamasco Banco Popolare not present WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa Banco Popolare Group Branches (*) Number Banco Popolare 1,651 Credito Bergamasco 239 Banca Aletti 35 Total 1,925 (*) Excluding 28 treasury branches Presence abroad Operations abroad are carried out by subsidiaries BP Luxembourg, BP Croatia, Banca Aletti Suisse and a branch of Banco Popolare in London. The Group’s presence on markets of interest for Italian exports takes the form of Representative Offices in China (Beijing, Hong Kong and Shanghai) India (Mumbai) and Russia (Moscow). Overall, the Group has 37 branches located abroad. 9 WorldReginfo - 26d367cc-820c-4fad-ab5d-547d458e13aa GROUP FINANCIAL HIGHLIGHTS The highlights and main ratios of the Group, calculated on the basis of the reclassified financial statements, are presented below. In previous years, the Banco Popolare Group exercised the option of designating financial liabilities issued by the bank at fair value (“fair value option”) as an alternative to hedge accounting, also for issues classified as institutional. Measuring the financial liabilities placed on the institutional market at fair value also entails measuring the impact of the change in its own creditworthiness following the date of issue of the liability. Due to said previous option, the Group’s profit (loss) is influenced to a significant extent by its creditworthiness measured on the basis of market quotations
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