Annual financial report 2021 Financial Year

A path of shared growth, to continue together.

Summary Data

A Group Supportive, Efficient and Cooperative

over

thousand

Partners

about

thousand

Collaborators

mln

Customers

Key financial data

Structural Ratios

Key financial data

50.6%

Direct funding

71.5%

Equity

7.7%

Totale assets

Risk Management Ratios

%

GROSS NPL RATIO

%

Coverage npl

%

texas ratio

Profitability Ratios

%

roe

%

roa

%

cost/income

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INCOME STATEMENT E GROUP EQUITY STRUCTURE

Reclassified statement

Reclassified income statement
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Reclassified statement of financial position
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Main strategic business areas of the Cassa Centrale Group

Cooperative Credit Banks

Control the majority of the capital of the
Cooperative Banking Group

The affiliated Banks, which represent the Group’s core business through the management of banking activities in the territory

Industrial Group*

Service for local Banks

*the Industrial Group refers to a management representation of the main strategic areas of the Group that contribute to the economic and financial results commented on below.

The Industrial Group, including the Parent Company and the companies that offer services to affiliated Banks in finance, credit, insurance, ICT, NPLs and asset management.

(Figures in millions of euro)	31/12/2021	31/12/2020	Change	% change
Interest margin	1,385	1,245	140	11.2%
Net commissions	717	657	60	9.1%
Dividends	3	2	1	50.0%
Net trading revenues	230	359	(129)	(35.9%)
Net interest and other banking income	2,335	2,263	72	3.2%
Net value adjustments/write-backs	(526)	(616)	90	(14.6%)
Income from financial activities	1,809	1,647	162	9.8%
Operating charges*	(1,628)	(1,556)	(72)	4.6%
Net allocations to provisions for risks and charges	(34)	(56)	22	(39.3%)
Other income (charges)	226	235	(9)	(3.8%)
Profit (loss) from disposal of investments and equity investments	(6)	-	(6)	n.s.
Gross current result	367	270	97	35.9%
Income tax	(36)	(25)	(11)	44.0%
Profit (loss) for the year for minority interests	2	-	2	n.s.
Net result of the Parent Company	333	245	88	35.9%

(Figures in millions of euro)	31/12/2021	31/12/2020	Change	% change
ASSETS
Cash and cash equivalents	895	823	72	8.8%
Exposures to banks	3,533	2,463	1,070	43.4%
Exposures to customers	46,117	43,633	2,484	5.7%
- of which at fair value	284	288	(4)	(1.4%)
Financial assets	37,235	36,812	423	1.2%
Equity investments	64	75	(11)	(14.7%)
Tangible and intangible assets	1,328	1,352	(24)	(1.8%)
Tax assets	778	849	(71)	(8.4%)
Other asset items	1,200	790	410	51.9%
Total assets	91,150	86,797	4,353	5.0%
LIABILITIES
Due to banks	16,611	17,438	(827)	(4.7%)
Direct funding	65,123	60,435	4,688	7.8%
- Due to customers	61,388	55,447	5,941	10.7%
- Debt securities in issue	3,735	4,988	(1,253)	(25.1%)
Other financial liabilities	33	81	(48)	(59.3%)
Provisions (Risks, charges and personnel)	473	469	4	0.9%
Tax liabilities	58	81	(23)	(28.4%)
Other liability items	1,876	1,572	304	19.3%
Total liabilities	84,174	80,076	4,098	5.1%
Third party minority interests	1	1	-	0.0%
Group equity	6,975	6,721	254	3.8%
Consolidated equity	6,976	6,722	254	3.8%
Total liabilities and eq	91,150	86,797	4,353	5.0%

	31/12/2021
Loans to customers	Trentino-Alto Adige	North East	North West	Central	South and the Islands	Total
Gross customer loans	10,784	10,401	10,377	10,667	4,776	47,005
- of which performing	10,033	9.,70	9,822	10,046	4.,40	44,212
- of which performing	751	531	555	621	335	2,793
Value adjustments	691	550	507	544	270	2,562
Net customer loans	10,093	9,851	9,870	10,123	4,506	44,442

	31/12/2021
Funding	Trentino-Alto Adige	North East	North West	Central	South and the Islands	Total
Overall funding	23,034	19,908	22,115	19,209	7,976	92,242
Direct funding	15,305	13,558	14,635	13,286	7,040	63,824
Indirect funding*	7,729	6,350	7,481	5,923	936	28,418
- of which administrated	1,768	1,402	2,508	1,482	434	7,595
- of which managed	5,962	4,947	4,972	4,440	502	20,823

	31/12/2021
Margins and commissions	Trentino-Alto Adige	North East	North West	Central	South and the Islands	Total
Interest margin	320	279	258	303	170	1,331
Net commissions	123	137	147	140	60	608
Net interest and other banking income	495	458	451	487	258	2,149

Loans to customers*	31/12/2021	31/12/2020	Change	% change
Gross customer loans	1,805	1,479	326	22.0%
- of which performing	1,715	1,378	337	24.5%
- of which non-performing	82	101	(19)	(18.6%)
Value adjustments	122	98	24	24,7%
Net customer loans	1,675	1,381	294	21.3%

Funding*	31/12/2021	31/12/2020	Change	%change
Overall funding	8,098	7,806	292	3.7%
Direct funding	1,299	1,223	76	6.2%
Indirect funding**	6,799	6,583	216	3.3%
- of which administrated	4,223	4,165	58	1.4%
- of which managed	2,576	2,418	158	6.5%

MORATORIA GRANTED AS AT 31/12/2021	Number of loans*	Amount** (Figures in millions of euro)	Performing** (Figures in millions of euro)	Impaired** (Figures in millions of euro)	% impaired amount
Total moratoria granted	125,476	13,314	12,527	786	6%
By source of reference:
EBA compliant moratoria	83,872	9,814	9,438	377	4%
Other Covid-related moratoria	35,833	2,904	2,817	87	3%
Moratoria subject to forbearance measures	5,771	596	273	323	54%
By status of moratoria:
Outstanding (repayment schedule suspended)	4,091	620	577	42	-
of which: Households	1,406	114	103	10	-
of which: Non-financial companies	2,619	499	467	32	-
Past due (repayment schedule reactivated)	121,385	12,694	11,950	744	-
of which: Households	52,894	4,346	4,095	251	-
of which: Non-financial companies	59,323	8,223	7,732	491	-

LOANS GRANTED WITH A STATE GUARANTEE AS AT 31/12/2021	Number of loans*	Amount** (Figures in millions of euro)
Total loans granted	71,326	5,395
By type of customer
of which: Households	30,939	789
of which: Non-financial companies	40,145	4,596
By residual duration:
Less than/equal to 12 months	268	26
More than 12 months	71,058	5,369

Reclassified statement

Consolidated Non-Financial statement 2021

Reclassified income statement1

Reclassified statement of financial position1

Affiliated Banks

Industrial Group

Reclassified income statement¹

Reclassified statement of financial position¹