Interim report as at 30 September 2016 approved

Financial solidity at the top of the Italian banking system and among the highest in Europe with a Phased In CET1 ratio of 14.47% (14.13% Fully Phased). Capital buffer over the ECB's minimum requirement (SREP at 9.25%) by more than 500 bps.

Stock of gross bad loans down 2.0% since the end of 2015 thanks to a number of assignments for a total gross amount of around € 500 million , without a significant impact on the income statement, carried out as part of a wider NPL management strategy.

Inflows to non-performing loans from performing loans down 8.4% over the last nine months compared with the same period of 2015 and 25.6% down on 2014.

Coverage ratios still high at 43.7% of overall non-performing loans and 57.4% of bad loans (44.2% and 58.2% respectively at the end of 2015), only marginally impacted by the sales of bad loans.

Net loans to customers up 0.1% (+0.6% gross) in the nine months, excluding the sales of bad loans.

Net profit for the period of € 101.2 million  (€ 120.8 million excluding contributions to the Single Resolution Fund and the Deposit Guarantee Scheme ).

Core revenues  down by 3.6% in the period, substantially offset by the reduction in net total adjustments (-10.0% y/y), the lowest level for the last five years.