Milan 28 May 2009 GRUPPO CARIGE 1

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1 GRUPPO CARIGE Milan 28 May 2009 GRUPPO CARIGE 1

2 Agenda Carige Group at a glance Key financial highlights Strategic Priorities 1Q09 results GRUPPO CARIGE 2

3 Banca Carige Group today ~50,000 small shareholders Fondazione CR Genova e Imperia CNCE Assicurazioni Generali Market 44.08% 14.99% 4.09% 36.84% Banca Carige SpA Cassa di Risparmio di Genova e Imperia Banking Insurance Finance Trustee Banca Carige CR Savona CR Carrara BM Lucca B. Cesare Ponti Carige Vita Nuova (life) Carige Ass.ni (non life) Carige AM SGR Creditis (Consumer credit) Centro Fiduciario Main Companies Only 5,880 EMPLOYEES 1.9 M CUSTOMERS (1.2 M BANKING; 0,7M ASSURANCE) 643 BRANCHES & 380 INSURANCE OUTLETS EQUITY 3.5 BILLION Operational and accounting data as at 31 March 2009 GRUPPO CARIGE 3

4 Growth through a long season of acquisitions Year CAPITAL COLLECTED m Year ACQUISITIONS m IPO Cassa di Risparmio i di Savona Bond conversion into new shares Insurance companies Capital increase underwritten by La Basilese Banca del Monte di Lucca Capital increase underwritten by institutional investors branches from Banco di Sicilia branches from Intesa Capital increase underwritten by CNCEP, CDC, WestLB branches from Capitalia Issue of a LT2 loan (renewed in 2006) Cassa di Risparmio di Carrara Capital increases and issue of subordinated convertible bonds Banca Cesare Ponti Capital increase Issue of subordinated loans (T1, 510 LT2, Ut2, T3) branches from Intesa Sanpaolo branches from Unicredit 115 Total 2,952 Total 2,286 GRUPPO CARIGE 4

5 realizing a more and more diversified network France 1 1/1 58/ 24 56/21 The network today / 60 72/ 46/ 30 /53 47/29 252/13 11/ 24 11/23 28/19 20/ 18 56/ 24 57/20 4/11 1/ 5 2/7 33/ 40/ / new branches ex ISP branches ex Unicredit branches TODAY 100% 72% 71% 37/ 53 63/51 96% 48% 39% Banking branches 643 Insurance outlets 380 % of Branches in Northern Italy % of Branches in Liguria GRUPPO CARIGE Operational data 5

6 Among the top 10 Italian banking Groups Market Cap (1) ( b) Total Assets FY08 (2) ( b) Ordinary shares 4.1 b Savings shares 0.6 b 1,046 #5 # ISP UC MPS UBI BC BP BPER BPS BPM CBERG UC ISP MPS UBI BP BPER BPM BC BPS CBERG Domestic Branch Network FY08 (2) (#) Customer Loans FY08 (2) ( b) 6,463 5, #8 #8 3,104 2, ,946 1, ISP UC MPS BP UBI BPER BPM BC BPS CBERG UC ISP MPS UBI BP BPER BPM BC BPS CBERG (1) Data as at 13 May 2009 (2) First 10 banks by capitalization at 13 May 2009 Source: Company data GRUPPO CARIGE Operational data and accounting data (FY08 report) 6

7 Among the top 10 Italian banking Groups C/I (%) FY08 (1) Core * C/I (%) FY08 (1) 66.6% 66.9% 75.8% #3 72.1% 61.5% 62.6% #4 66.5% 66.7% 68.1% 60.0% 58.6% 63.7% 64.5% 55.4% 56.3% 53.8% 58.9% 58.9% 44.2% 43.9% CBERG BPER BC BPS UC UBI BP BPM ISP MPS Tier 1 and Total Capital Ratio (%) FY08 CBERG BPER BPS BC UC BPM BP UBI ISP MPS (*) Core cost income = Core revenues/operating costs Net NPL ratio (%) FY08 (1) #3 T1 ratio #7 2.5% 12.4% 11.9% 11.4% 11.1% 11.0% 10.6% 10.6% 10.2% 0.04% 12.4% #6 TC ratio 9.3% 8.6% 4.2% 4.2% 3.4% 3.9% 2.7% 4.2% 3.1% 4.2% 7.7% 7.3% 7.7% 7.2% 7.9% 6.4% 7.1% 5.1% 9.0% 07% 0.6% 0.7% 0.9% 0.9% 1.0% 1.2% 1.4% 1.4% 1.7% -0.5% CBERG BPM UC UBI BPER BC BP ISP MPS BPS BPM BPS CBERG UBI ISP BP BC BPER UC MPS (1) First 10 banks by capitalization at 13 May 2009 Source: Company data GRUPPO CARIGE Operational data and accounting data (FY08 report) 7

8 Agenda Carige Group at a glance Key financial highlights Strategic priorities 1Q09 results GRUPPO CARIGE 8

9 L O A N S D E P O S I T Large Corporate 8% Other 6% Small llbusiness 11% Private 20% Corporate 21% by segment Public Entities 4% by segment (ex debt securities) Other 11% Private & Mass Market 32% SME 39% Centre 19% North 39% LOANS TO CUSTOMERS 1Q09 : 20.8 b Affluent & Mass Market 48% South & Isles 7% Centre 16% North 21% S DIRECT DEPOSITS 1Q09 : 22.4 b Focus on retail by area (*) South & Isles 6% Liguria 37% (*) by customers residence by area Liguria 55% Small business = turnover<1m ; SMEs= <100m ; Large Corporate= >100m Mass Market= deposits<75k ; Affluent >75k ; Private= >250k Data as at 31 March 2009 GRUPPO CARIGE Operational and accounting data (1Q09) 9

10 Customer based funding Funding Bonds issued on the network m % Interbank deposits money market deposits and current accounts other deposits Customer deposits 19, short term deposits 12, medium/long term deposits and bonds 6, EMTN programme 1, deposits bonds 1, Subordinated loans 1, floating rate bonds 1, convertible fixed rate bonds Securitisation RMBS performing securities m New issues for 2,6 b over the last 12 months TOTAL FUNDING 23, Interbank deposits 2% Securitisation 2% Subordinated loans 5% EMTN programme 8% Customer deposits 83% Data as at 31 March issued bonds expired bonds Data as at April 2009 GRUPPO CARIGE Operational data and accounting data (1Q09 report) 10

11 No pressure on liquidity Current Debt Maturity Profile 2008 operations Operation Issue Date Capital increase 957 m March Tier m June Lower Tier m June callable in Tier m December Covered bonds (*) 500 m December PL Securitization 853 m December Upper Tier m December customers institutional (*) On a 5 b plafond m Data as at April 2009 GRUPPO CARIGE Operational data 11

12 Sound assets Loans to customers allocation and concentration Medium/long term gross loan splitting Financial assets splitting Financial assets (*) bad loans 3.3% short tem 23.8% m/l term 73% Loans to customers 20.8 b Cash loan concentration mortgage loans to individuals 25.3% consumer credit 3.6% loans to corporate 71.1% Debt securities 82% Securitization 2% (*) Data do not include the shareholding in Bank of Italy and the notional value underlying customers index linked policies Mutual funds 3% Hedge funds <1% Structured notes 10% Equity and private equity 3% Total 4.4 b Debt securities, securitisation and structured notes rating First 20 groups First 30 groups First 50 groups 25.0% AA 64% 20.0% 15.0% 10.0% 5.0% Dec 02 Dec 03 Dec 05 Dec 06 Dec 07 Dec 08 First 20 groups 17.6% 16.9% 11.3% 10.2% 9.5% 8.6% First 30 groups 20.6% 19.3% 13.5% 12.2% 11.7% 10.6% First 50 groups 24.7% 22.8% 16.7% 14.9% 14.5% 13.4% A 20% Other 3% BBB 7% AAA 6% Data as at 31 March 2009 GRUPPO CARIGE Operational data and accounting data (1Q09 report) 12

13 Conservative NPL coverage policy Bad loan ratio NPL loan ratio 8.0% 6.0% 4.0% 8.0% 6.0% 4.0% 2.0% 2.0% 0.0% Dec 06 Dec 07 Dec 08 Mar 09 Gross bad loan ratio Net bad loan ratio 0.0% Dec 06 Dec 07 Dec 08 Mar 09 Gross NPL ratio Net NPL ratio Only one NPL securitization in 2000 Breakdown of gross NPL ( m) 31/12/ /03/ /12/ /03/2009 NPL 1,087 1,127 1,278 1,324 of which: bad loans Coverage of gross bad loans 55.6% 55.4% 53.8% 52.2% Adjustment on loans/loans 0.4% 0.1% 0.4% 0.1% Operational data and accounting data (FY06 report - FY07 report 1Q08 report GRUPPO CARIGE FY08 report - 1Q09 report) 13

14 Robust capital ratios Capital Ratios T1 min T1 recommended T1 Carige Group TCR min TCR recommended TCR Carige Group 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% Mar-09 1Q09 TOTAL CAPITAL RATIO 9.80% TIER 1 RATIO 7.63% Core TIER1 RATIO 6.80% Comparison with the Average Italian Banks Ratios FY % 7.7% 7.9% 6.7% 7.1% Impact on recapitalisation 6.2% operations carried out after 31 December 2008, including 7.2% Banking system operations announced by 4 Carige Group banks (Tremonti bonds) Source: ABI European Banking Report Observatory Core T1 ratio T1 ratio Equity/Total assets ratio GRUPPO CARIGE Operational data 14

15 Agenda Carige Group at a glance Key financial highlights Strategic priorities 1Q09 results GRUPPO CARIGE 15

16 Further development realised via external growth LOMBARDY 25 COMO 19 PAVIA 6 VENETO 34 PADUA 15 VENETO 1 ROVIGO 1 VERONA 1 VENICE 18 EX ISP 79 BRANCHES Direct Indirect Deposits Deposits 1.4b 3.6b VALLE D AOSTA 1 AOSTA 1 Loans 1.4b Customers 170, EMILIA ROMAGNA 5 BOLOGNA 2 RIMINI 2 FORLI 1 As at 10 March 2008 EX UNICREDIT 40 BRANCHES PIEDMONT 15 TURIN UMBRIA 1 PERUGIA 1 Direct Deposits 0.5b Loans 0.4b Indirect Deposits 0.6b Customers 67,000 4 LATIUM 7 ROME 7 As at 1 December 2008 TOTAL SARDINIA 4 SASSARI 4 26 SICILY 26 PALERMO 13 MESSINA 4 CATANIA 2 AGRIGENTO 4 SYRACUSE 3 Direct Deposits 1.9b Indirect Deposits 4.2b Loans Customers 1.8b 237,000 GRUPPO CARIGE Operational data 16

17 A strategy focused on the network / 1 New branch development department A new central structure where acquired, new or problematical branches are temporarily included until migration is concluded or break-even point is reached through specific actions. When targets are met, branches are shifted to the network March Dec Jan May 10th 1st 1st 2nd 75 ISP branches 30* problematical branches The department has been strengthened and its activity has been extended to branches with growth potential 40 Unicredit branches * Included 21 branches under break even point of which 5 reached the break even within the 1 st of January,2009 GRUPPO CARIGE 17

18 A strategy focused on the network / 2 New front office A 3 step project that creates a new integrated and marketing oriented sale system turning a traditional branch into a new financial shop. A single access point (single sign on) for an integrated platform of relationship management with a stronger commercial approach involving teller, commercial and operational. 1st step All the Group s branches are working with the new HW and SW March Sept Beginning nd step Implementation of new functions 3rd step Efficiency enhancement GRUPPO CARIGE 18

19 Agenda Carige Group at a glance Key financial highlights Strategic priorities 1Q09 results GRUPPO CARIGE 19

20 1Q09 Growth of Deposits and Loans DIRECT DEPOSITS b TOTAL DEPOSITS b + 5.4% % % 2.7% 1Q08 1Q09 1Q08 1Q09 INDIRECT DEPOSITS b % -7.9% 1Q08 1Q09 DIRECT DEPOSITS >1 LOANS TO CUSTOMERS NET INTERBANK BALANCE LOANS TO CUSTOMERS m b % 1Q % 1Q08 1Q08 1Q09 change change net of UC branches contribution UC branches contribution Operational data and accounting data (1Q08 report 1Q09 report) GRUPPO CARIGE 20

21 1Q09 Growth of core revenues NET PROFIT CORE REVENUES (*) m m % % 1Q08 1Q09 1Q08 1Q09 OTHER REVENUES COSTS m m % Q08 1Q09 1Q08 1Q09 change (*) Core revenues = Net interest income + Net commissions + Dividends Operational data and accounting data (1Q08 report 1Q09 report) GRUPPO CARIGE 21

22 Disclaimer This document has been prepared by Banca Carige SpA solely for information purposes and for use in presentation of the Group s strategies and financials. The information contained herein has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither the company, its advisors or representatives shall have any liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. The forward-looking information contained herein has been prepared on the basis of a number of assumptions which may prove to be incorrect and, accordingly, actual results may vary. This document does not constitute t an offer or invitation it ti to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. The distribution of this presentation in certain jurisdictions may be restricted by law. Recipients of this presentation should inform themselves about and observe such restrictions. The information herein may not be reproduced or published in whole or in part, for any purpose, or distributed to any other party. By accepting this document you agree to be bound by the foregoing limitations. ***** The manager responsible for preparing the company s financial reports Daria Bagnasco, Director in charge of Planning and Accounting of Banca CARIGE S.p.A., declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corresponds to the document results, books and accounting records. GRUPPO CARIGE 22

23 Contacts Giacomo Burro CFO & Wealth Management Director Tel: Emilio Chiesi Head of International Funding & UK Representative Tel: Investor Relations Tel: GRUPPO CARIGE 23