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					UNICREDIT GROUP
3Q07 Results
Divisional Database
                                     3Q07 GROUP RESULTS
                                      DIVISIONAL DATABASE




CONSOLIDATED ACCOUNTS

 KPI                                                                      1
 CONSOLIDATED INCOME STATEMENT                                            2
 CONSOLIDATED BALANCE SHEET                                               3
 NET FEES AND COMMISSIONS                                                 4
 ASSET QUALITY                                                            5



CONTRIBUTION OF DIVISIONS TO GROUP RESULTS

 CONSOLIDATED INCOME STATEMENT BY DIVISIONS                               6
 RETAIL DIVISION - KEY FIGURES                                            7
 RETAIL DIVISION - QUARTERLY TREND                                        8
 CORPORATE DIVISION - KEY FIGURES                                         9
 CORPORATE DIVISION - QUARTERLY TREND                                    10
 PRIVATE BANKING DIVISION - KEY FIGURES                                  11
 PRIVATE BANKING DIVISION - QUARTERLY TREND                              12
 ASSET MANAGEMENT DIVISION - KEY FIGURES & QUARTERLY TREND               13
 MARKETS & INVESTMENT BANKING DIVISION - KEY FIGURES & QUARTERLY TREND   14
 POLAND'S MARKETS DIVISION - KEY FIGURES AND QUARTERLY TREND             15
 CEE DIVISION - KEY FIGURES & QUARTERLY TREND                            16
  TURKEY - KEY FIGURES & QUARTERLY TREND                                 17
  RUSSIA - KEY FIGURES & QUARTERLY TREND                                 18



CAPITALIA

 CAPITALIA INCOME STATEMENT                                              19
 CAPITALIA ASSET QUALITY                                                 20
                                                KEY PERFORMANCE INDICATORS
ROE

                                                                                                                                  September            September
                                                                                                                                     2007                 2006            CHANGE



 ROE (1)                                                                                                                            17.5%                18.4%             -1 bp




CAPITAL RATIOS

                                                                                                                                  September            December
                                                                                                                                     2007                 2006            CHANGE



 CORE TIER 1 RATIO                                                                                                                  5.98%                5.82%             16 bp

 TIER 1 RATIO                                                                                                                       6.98%                6.96%              3bp

 TOTAL CAPITAL RATIO                                                                                                               10.42%               10.50%             -8 bp




STAFF AND BRANCHES

                                                                                                                                  September            December             ∆ y/y
                                                                                                                                     2007                 2006



 Employees (2)                                                                                                                     137,324              137,197             127

 Employees (KFS Group consolidated proportionally)                                                                                 127,707              127,731             -24
             (3)
 Branches                                                                                                                            7,529               7,357              172




RATINGS

                                                                                                                                SHORT-TERM           MEDIUM AND           OUTLOOK
                                                                                                                                    DEBT             LONG-TERM



 FITCH RATINGS                                                                                                                        F1                   A+             POSITIVE

 MOODY'S INVESTOR SERVICE                                                                                                             P-1                 Aa2             STABLE

 STANDARD & POOR'S                                                                                                                    A-1                  A+             STABLE
 (1) Annualised data. Calculated on the basis of the average shareholders' equity for the period (excluding dividends to be distributed and reserves in respect of AfS
 assets and cash-flow hedge)
 (2) Full time equivalent" data, calculated according to a new methodology which does not include unpaid leaves. These figures include all Koç Financial Services Group
 employees, although such Group is consolidated proportionately
 (3) These figures include all Koç Financial Services branches, although such Group is consolidated proportionately. The December 2006 figure has been restated
 pro-forma to ensure comparability with the subsequent quarterly figures (approximately 90 branches more)




                                                                                                                                             1
                                                                                  CONSOLIDATED INCOME STATEMENT & QUARTERLY TREND
CONSOLIDATED INCOME STATEMENT

                                                                                                                              1/1-30/09            y/y %           y/y %      Q3           Q2       Q1      Q307/Q306   Q307/Q306 %       FY        Q4       Q3       Q2       Q1

                                                                                                                      2007                2006    CHANGE    at constant FX   2007         2007     2007        %        at constant FX    2006     2006     2006     2006     2006
 (mln Euro)                                                                                                                                                   & Perimeter                                                & Perimeter

 Net interest                                                                                                         9,676               8,905   + 8.7%          + 9.0%     3,251        3,188    3,237     + 8.3%        + 7.1%        12,155    3,250    3,002    2,942    2,961

 Dividends and other income from equity investments                                                                    587                525      11.8%          + 12.0%     152          325      110      + 1.3%        + 5.3%         705       180      150      268      107

        Net interest income                                                                                          10,263               9,430    8.8%           + 9.1%     3,403        3,513    3,347     + 8.0%        + 7.1%        12,860    3,430    3,152    3,210    3,068

 Net fees and commissions                                                                                             6,743               6,193    8.9%           + 9.6%     2,134        2,334    2,275     + 9.4%        + 8.9%        8,348     2,155    1,951    2,109    2,133

 Net trading, hedging and fair value income                                                                           1,378               1,688   -18.4%          - 18.4%     -11          559      830       n.m.          n.m.         1,922      234      431      564      693

 Net other expenses/income                                                                                             432                289      49.5%          + 47.5%     166          141      125      + 72.9%      + 66.0%         334       45       96       101      92

        Net non-interest income                                                                                       8,553               8,170    4.7%           + 5.2%     2,289        3,034    3,230      - 7.6%        - 8.6%       10,604    2,434    2,478    2,774    2,918

 OPERATING INCOME                                                                                                    18,816           17,600       6.9%           + 7.3%     5,692        6,547    6,577     + 1.1%        + 0.2%        23,464    5,864    5,630    5,984    5,986

 Payroll costs                                                                                                        -5,765          -5,824       -1.0%          - 0.2%     -1,904       -1,817   -2,044     - 1.1%        - 1.5%       -7,845    -2,021   -1,926   -1,948   -1,950

 Other administrative expenses                                                                                        -3,446          -3,275       5.2%           + 4.9%     -1,155       -1,171   -1,120    + 5.5%        + 3.6%        -4,431    -1,156   -1,095   -1,057   -1,123

 Recovery of expenses                                                                                                  202                185      9.2%           + 9.8%      67           70       65       + 4.7%        + 5.3%         285       100      64       66       55

 Amortisation, depreciation and impairment losses on intangible and tangible assets                                   -865                -898     -3.7%          - 3.2%     -289         -289     -287         -           - 1.1%       -1,267    -369     -289     -303     -306

        Operating costs                                                                                               -9,874          -9,812       0.6%           + 1.1%     -3,281       -3,207   -3,386    + 1.1%        + 0.2%        -13,258   -3,446   -3,246   -3,242   -3,324

 OPERATING PROFIT                                                                                                     8,942               7,788    14.8%          + 15.2%    2,411        3,340    3,191     + 1.1%        + 0.2%        10,206    2,418    2,384    2,742    2,662

 Goodwill impairment                                                                                                    -1                 0       n.m.            n.m.        0            -1       0        n.m.          n.m.           -9        -9       0        0        0

 Provisions for risks and charges                                                                                     -152                -199    -23.6%          - 21.2%     -38          -70      -44      - 32.1%       - 30.5%        -473     -274      -56      -79      -64

 Integration costs                                                                                                     -70                -104    -32.7%          - 33.0%     -35          -19      -16      - 32.7%       - 34.4%        -465     -361      -52      -52       0

 Net write-downs of loans and provisions for guarantees and commitments                                               -1,579          -1,681       -6.1%          - 6.5%     -504         -510     -565      - 24.2%       - 24.6%       -2,233    -552     -665     -501     -515

 Net income from investments                                                                                           388                1,076   -63.9%          - 63.8%     73           89       226      - 83.8%       - 84.1%       1,184      108      450      449      177

 PROFIT BEFORE TAX                                                                                                    7,528               6,880    9.4%           + 9.9%     1,907        2,829    2,792      - 7.5%        - 8.5%       8,210     1,330    2,061    2,559    2,260

 Income tax for the period                                                                                            -2,241          -1,793       25.0%          + 25.3%    -612         -808     -821      + 38.5%      + 39.8%        -2,138    -345     -442     -634     -717

 NET PROFIT                                                                                                           5,287               5,087    3.9%           + 4.4%     1,295        2,021    1,971     - 20.0%       - 21.7%       6,072      985     1,619    1,925    1,543

 Profit (Loss) from non-current assets held for sale, after tax                                                         0                  56      n.m.            n.m.        0            0        0         n.m          n.m.           56        0       17       16       23

 PROFIT (LOSS) FOR THE PERIOD                                                                                         5,287               5,143    2.8%           + 4.4%     1,295        2,021    1,971     - 20.8%       - 21.7%       6,128      985     1,636    1,941    1,566

 Minorities                                                                                                           -558                -588     -5.1%          - 6.6%     -173         -194     -191       - 0.6%        - 4.5%        -680      -92     -174     -230     -184

 NET PROFIT ATTRIBUTABLE TO THE GROUP                                                                                 4,729               4,555    3.8%           + 5.9%     1,122        1,827    1,780     - 23.3%       - 23.8%       5,448      893     1,462    1,711    1,382

 Dividends on Equity Instruments held for trading are included in Net trading, hedging and fair value income.
 The First Half 2006 Income Statement has been restated in order to account for the effects of the finalisation of the Purchase Price Allocation with HVB Group


INCOME STATEMENT RATIOS

                                                                                                                              1/1-30/09             y/y       CHANGE          Q3           Q2       Q1         FY            Q4            Q3       Q2       Q1

                                                                                                                      2007                2006    CHANGE    at constant FX   2007         2007     2007       2006          2006          2006     2006     2006
                                                                                                                                                              & Perimeter

 Cost income ratio                                                                                                    52.5%           55.8%       -330bp          -324bp     57.6%        49.0%    51.5%      56.5%        58.8%         57.7%     54.2%    55.5%
                 (1)
 Cost of risk                                                                                                         52bp                56bp     -4bp              -                                        56bp
 Tax rate                                                                                                             29.8%           26.1%        371bp          367bp      32.1%        28.6%    29.4%      26.0%        25.9%         21.4%     24.8%    31.7%
 (1)
       Change vs FY06 figure. Figures in 3Q06 column are related to FY06.


EVA - ALLOCATED CAPITAL - RWA
                                                                                                                                      TOTAL
                                                                                                                              1/1-30/09            y/y %
                                                                                                                      2007                2006    CHANGE


 EVA (2)                                                                                                              2,496               1,931   + 29.3%
 Allocated Capital                                                                                                   28,096           27,468      + 2.3%
 Total RWA End of Period                                                                                             451,406         431,673      + 4.6%
 Total RWA Average                                                                                                   435,178         424,171      + 2.6%
 Credit RWA End of Period                                                                                            423,034         406,563      + 4.1%
 Credit RWA Average                                                                                                  408,857         398,957      + 2.5%
 (2) Economic Value Added, equal to the difference between NOPAT (net operating profit after taxes) and the cost of capital




                                                                                                                                                                                      2
                                                    CONSOLIDATED BALANCE SHEET

                                                                           30.09.2007            30.06.2007            31.12.2006          % CHANGE            % CHANGE

 (mln Euro)                                                                                                                               vs. 30.06.2007      vs. 31.12.2006

Assets
 Cash and cash balances                                                                 5,018                 4,841            5,681                + 3.7%             - 11.7%
 Financial assets held for trading                                                198,313               205,858              191,593                 - 3.7%             + 3.5%
 Loans and receivables with banks                                                   95,858              100,171               83,715                 - 4.3%           + 14.5%
 Loans and receivables with customers                                             460,698               454,132              441,320                + 1.4%              + 4.4%
 Financial investments                                                              62,921                59,956              59,130                + 4.9%              + 6.4%
 Hedging instruments                                                                    3,237                 3,438            3,238                 - 5.8%              - 0.0%
 Property, plant and equipment                                                          8,457                 8,659            8,615                 - 2.3%              - 1.8%
 Goodwill                                                                           10,326                    9,996            9,908                + 3.3%              + 4.2%
 Other intangible assets                                                                3,116                 3,148            3,428                 - 1.0%              - 9.1%
 Tax assets                                                                             7,045                 7,751            7,746                 - 9.1%              - 9.0%
 Non-current assets and disposal groups classified as held for sale                     3,090                 2,847                 573             + 8.5%                     n.s.
 Other assets                                                                            8,770                 7,890           8,337              + 11.2%               + 5.2%
 Total assets                                                                     866,849               868,687              823,284                 - 0.2%             + 5.3%


Liabilities and shareholders' equity
 Deposits from banks                                                              149,762               159,085              145,683                 - 5.9%             + 2.8%
 Deposits from customers and debt securities in issue                             516,032               502,720              495,255                + 2.6%              + 4.2%
 Financial liabilities held for trading                                           117,199               123,697              103,980                 - 5.3%           + 12.7%
 Financial liabilities designated at fair value                                         2,362                 2,994            1,731               - 21.1%            + 36.5%
 Hedging instruments                                                                    4,005                 3,203            3,708              + 25.0%               + 8.0%
 Provisions for risks and charges                                                       6,550                 6,676            6,871                 - 1.9%              - 4.7%
 Tax liabilities                                                                        6,343                 6,464            6,094                 - 1.9%             + 4.1%
 Liabilities included in disposal groups classified as held for sale                    2,378                 2,447                  97              - 2.8%                    n.s.
 Other liabilities                                                                      16,984            17,265              17,123                 - 1.6%              - 0.8%
 Minorities                                                                             4,387                 4,388            4,274                 - 0.0%             + 2.6%
 Shareholders' equity                                                               40,847                39,748              38,468                + 2.8%              + 6.2%
 - Capital and reserves                                                             34,304                    34,303          30,855               + 0.0%             + 11.2%
 - Available-for-sale assets fair value reserve and                                       -                     -                   -                                            -
    cash-flow hedging reserve                                                           1,814                 1,838            2,165                - 1.3%             - 16.2%
 - Net profit                                                                           4,729                 3,607            5,448                   n.m.                n.m.
 Total liabilities and shareholders' equity                                       866,849               868,687              823,284                 - 0.2%             + 5.3%




                                                                       3
                             CONSOLIDATED NET FEES AND COMMISSIONS

                                                            1/1-30/09                %       Q3      Q2      Q1     Q307/Q306   Q307/Q207
                                                     2007               2006       CHANGE   2007    2007    2007       %           %
(mln Euro)                                                                                                          CHANGE      CHANGE

Asset management, custody and administration:        3,372          3,098           8.8%    1,056   1,145   1,171    + 15.5%      - 7.8%

  segregated accounts                                257                206         24.8%    84      83      90         -        + 2.2%

  management of collective investment funds          1,760          1,720           2.3%    552     650     558       - 1.1%     - 15.1%

  insurance products                                 461                385         19.7%   133     146     184      + 24.2%      - 9.2%

  securities dealing, placement and other services   894                787         13.6%   288     267     339      + 74.0%     + 7.8%

Current accounts, loans and guarantees               1,379          1,342           2.8%    431     485     463      + 2.0%      - 11.3%

Collection and payment services                      1,117          1,009           10.7%   355     400     362      + 1.5%      - 11.2%

Forex dealing                                        463                409         13.2%   153     156     154      + 24.3%      - 1.9%

Other services                                       412                335         23.0%   139     148     125       - 1.3%      - 5.9%

TOTAL NET FEES AND COMMISSIONS                       6,743          6,193           8.9%    2,134   2,334   2,275    + 9.4%       - 8.6%




                                                                               4
                                                     ASSET QUALITY
CONSOLIDATED IMPAIRED LOANS TO CUSTOMERS (by type)


                                                                                                                            % ch. Vs      % ch. Vs
                                                                30.09         30.06         31.03         31.12
                                                                2007          2007          2007          2006              30.06.2007    31.12.2006




 NPLs - Face value                                                 17,972        17,995        17,678        17,698             - 0.1%         + 1.5%

 Writedowns                                                        11,524        11,446        11,254        10,886             + 0.7%         + 5.9%

 as a percentage of face value (Coverage Ratio)                    64.1%         63.6%         63.7%         61.5%               52bp          261bp

 NPLs - Carrying value                                              6,448         6,549         6,424         6,812             - 1.5%          -5.3%


 Doubtful Loans - Face value                                        4,482         4,513         4,714         4,847              -0.7%          -7.5%

 Writedowns                                                         1,390         1,354         1,162         1,259             + 2.7%        + 10.4%

 as a percentage of face value (Coverage Ratio)                    31.0%         30.0%         24.6%         26.0%              101bp          504bp

 Doubtful Loans - Carrying value                                    3,092         3,159         3,552         3,588              -2.1%         -13.8%


 Restructured Loans - Face value                                    1,690         2,941         3,772         4,394             -42.5%         -61.5%

 Writedowns                                                             613       1,087         1,250         1,388             -43.6%         -55.8%

 as a percentage of face value (Coverage Ratio)                    36.3%         37.0%         33.1%         31.6%               -69bp         468bp

 Restructured Loans - Carrying value                                1,077         1,854         2,522         3,006             -41.9%         -64.2%


 Past-due Loans - Face value                                            936           915       1,131         1,016             + 2.3%         - 7.9%

 Writedowns                                                             123           135           150           146           - 8.9%        - 15.8%

 as a percentage of face value (Coverage Ratio)                    13.1%         14.8%         13.3%         14.4%              -161bp         -123bp

 Past-due Loans - Carrying value                                        813           780           981           870           + 4.2%         - 6.6%


 Total Impaired Loans - Face value                                 25,080        26,364        27,295        27,955              -4.9%         -10.3%

 Writedowns                                                        13,650        14,022        13,816        13,679             - 2.7%         - 0.2%

 as a percentage of face value (Coverage Ratio)                    54.4%         53.2%         50.6%         48.9%              124bp          549bp

 Total Impaired Loans - Carrying value                             11,430        12,342        13,479        14,276              -7.4%         -19.9%


AS A PERCENTAGE OF TOTAL LOANS TO CUSTOMERS


                                                                                                                            % ch. Vs      % ch. Vs
                                                                30.09         30.06         31.03         31.12

                                                                2007          2007          2007          2006              30.06.2007    31.12.2006




 NPLs - Face value                                                 3.77%         3.83%         3.80%         3.87%                -6bp          -10bp

 NPLs - Carrying value                                             1.40%         1.44%         1.43%         1.54%                -4bp          -14bp


 Doubtful Loans - Face value                                       0.94%         0.96%         1.01%         1.06%                -2bp          -12bp

 Doubtful Loans - Carrying value                                   0.67%         0.70%         0.79%         0.81%                -2bp          -14bp


 Restructured Loans - Face value                                   0.35%         0.63%         0.81%         0.96%               -27bp          -61bp

 Restructured Loans - Carrying value                               0.23%         0.41%         0.56%         0.68%               -17bp          -45bp


 Past-due Loans - Face value                                       0.20%         0.19%         0.24%         0.22%                .2 bp          -3bp

 Past-due Loans - Carrying value                                   0.18%         0.17%         0.22%         0.20%                .5 bp          -2bp


 Total Impaired Loans - Face value                                 5.26%         5.61%         5.87%         6.12%               -34bp          -85bp

 Total Impaired Loans - Carrying value                             2.48%         2.72%         3.00%         3.23%               -24bp          -75bp




                                                                                                                        5
                                                                                 CONSOLIDATED INCOME STATEMENT BY DIVISIONS
                                                                                                                                                                                             Corporate Centre &
                                                                                             Retail    Corporate         Private Banking      AM         MIB         CEE       Poland Mkts        Elision          Group
                                                                                           September   September            September      September   September   September   September         September        September
                                                                                             2007        2007                 2007           2007        2007        2007         2007              2007            2007



 Net interest                                                                                3,702       2,616                 223            31         868         1,500        942               -206            9,676

 Dividends and other income from equity investments                                           60          63                   18              7         179          17           33               210             587

     Net interest income                                                                     3,762       2,679                 241            38         1,047       1,517        975                4             10,263

 Net fees and commissions                                                                    2,326       945                   585           1,016       402         681          721                67             6,743

 Net trading, hedging and fair value income                                                   19          61                    -5            -14        1,046       125           84                62             1,378

 Net other expenses/income                                                                     -7        172                   24              1          12          91           10               129             432

     Net non-interest income                                                                 2,338       1,178                 604           1,003       1,460       897          815               258             8,553

 OPERATING INCOME                                                                            6,100       3,857                 845           1,041       2,507       2,414        1,790             262            18,816

 Payroll costs                                                                              -1,871       -562                 -242           -283        -558        -569         -435             -1,245          -5,765

 Other administrative expenses                                                              -2,096       -615                 -272           -160        -544        -516         -280             1,037           -3,446

 Recovery of expenses                                                                         164          9                   10             12           2           1           1                 3              202

 Amortisation, depreciation and impairment losses on intangible and tangible assets           -70         -92                  -11            -17         -10        -119         -103              -443            -865

     Operating costs                                                                        -3,873      -1,260                -515           -448       -1,110      -1,203        -817              -648           -9,874

 OPERATING PROFIT                                                                            2,227       2,597                 330           593         1,397       1,211        973               -386            8,942

 Goodwill Impairment                                                                           0           0                    0             -1           0           0           0                 0               -1

 Provisions for risks and charges                                                             -18         -62                   -1             2           4          -45          -2               -30             -152

 Integration costs                                                                             -5         -3                    0             -5           0          -18          -10              -29              -70

 Net write-downs of loans and provisions for guarantees and commitments                      -562        -542                   -5             0          42         -149          -73              -290           -1,579

 Net income from investments                                                                   9          50                    0              2         237          25           59                6              388

 PROFIT BEFORE TAX                                                                           1,651       2,040                 324           591         1,680       1,024        947               -729            7,528




COST INCOME RATIO

                                                                                                                                                                                             Corporate Centre &
                                                                                             Retail    Corporate       Private Banking        AM         MIB         CEE       Poland Mkts        Elision          Group
                                                                                           September   September            September      September   September   September   September         September        September
                                                                                             2007        2007                 2007           2007        2007        2007         2007              2007            2007


 Cost/income ratio                                                                          63.5%       32.7%                 60.9%         43.0%       44.3%       49.8%        45.6%            247.3%           52.5%




                                                                                                                   6
                                                                                           RETAIL DIVISION - KEY FIGURES
INCOME STATEMENT
                                                                                                       TOTAL                                  o/w ITALY                           o/w GERMANY                              o/w AUSTRIA                 TOTAL DIVISION QUARTER
                                                                                               1/1-30/09            y/y %               1/1-30/09            y/y %            1/1-30/09            y/y %             1/1-30/09            y/y %      Q3         Q3         y/y %
                                                                                        2007               2006    CHANGE        2007               2006    CHANGE    2007                2006    CHANGE     2007                2006    CHANGE     2007        2006     CHANGE
 (mln Euro)

 Net interest                                                                           3,702              3,481    + 6.3%      2,336               2,072   + 12.7%    807                834      - 3.2%     561                575      - 2.4%    1,263      1,192      + 6.0%

 Dividends and other income from equity investments                                      60                 54     + 11.1%        47                 44     + 6.8%      1                  1         -        11                  9      + 22.2%     24          24          -

        Net interest income                                                             3,762              3,535    + 6.4%      2,383               2,116   + 12.6%    808                835      - 3.2%     572                584      - 2.1%    1,287      1,216      + 5.8%

 Net fees and commissions                                                               2,326              2,274    + 2.3%      1,392               1,396    - 0.3%    518                489     + 5.9%      416                389      + 6.9%     719        687       + 4.7%

 Net trading, hedging and fair value income                                              19                 11     + 72.7%        15                 12     + 25.0%     1                  0       n.m.        3                  -1       n.m.       6          4        + 50.0%

 Net other expenses/income                                                               -7                 -1       n.m.         10                 0       n.m.       9                  14     - 35.7%     -26                 -15    + 73.3%      -6        -12       - 50.0%

        Net non-interest income                                                         2,338              2,284    + 2.4%      1,417               1,408   + 0.6%     528                503     + 5.0%      393                373      + 5.4%     719        679       + 5.9%

 OPERATING INCOME                                                                       6,100              5,819    + 4.8%      3,800               3,524   + 7.8%    1,336               1,338    - 0.1%     965                957      + 0.8%    2,006      1,895      + 5.9%

 Payroll costs                                                                         -1,871          -1,895       - 1.3%      -1,188          -1,190       - 0.2%    -433               -425    + 1.9%      -249               -280     - 11.1%   -644        -625      + 3.0%

 Other administrative expenses                                                         -2,096          -2,187       - 4.2%      -1,062          -1,036      + 2.5%     -595               -637     - 6.6%     -440               -514     - 14.4%   -687        -732       - 6.1%

 Recovery of expenses                                                                   164                148     + 10.8%       164                148     + 10.8%     0                  0       n.m.        0                  0        n.m.      54          50       + 8.0%

 Amortisation, depreciation and impairment losses on intangible and tangible assets      -70                -65     + 7.7%       -54                 -35    + 54.3%     -7                 -19    - 63.2%      -9                 -11     - 18.2%    -26        -31       - 16.1%

        Operating costs                                                                -3,873          -3,999       - 3.2%      -2,140          -2,113      + 1.3%    -1,035          -1,081       - 4.3%     -698               -805     - 13.3%   -1,303     -1,338      - 2.6%

 OPERATING PROFIT                                                                       2,227              1,820   + 22.4%      1,660               1,411   + 17.6%    301                257     + 17.1%     267                152     + 75.7%     703        557       + 26.2%

 Goodwill Impairment                                                                     0                  0        n.m.         0                  0       n.m.       0                  0       n.m.        0                  0        n.m.       0          0         n.m.

 Provisions for risks and charges                                                        -18                -32     - 43.8%      -25                 -33    - 24.2%     3                  -3     - 200.0%     3                  4       - 25.0%     -4         -5       - 20.0%

 Integration costs                                                                       -5                 -3     + 66.7%        -5                 0       n.m.       0                  -2     - 100.0%     0                  -1     - 100.0%     -5         -1        n.m.

 Net write-downs of loans and provisions for guarantees and commitments                 -562               -726     - 22.6%      -301               -351    - 14.2%    -95                -129    - 26.4%     -166               -246     - 32.5%   -180        -314      - 42.7%

 Net income from investments                                                             9                  4      + 125.0%       0                  0       n.m.       -5                 0       n.m.       14                  4      + 250.0%     -3         2        - 250.0%

 PROFIT BEFORE TAX                                                                      1,651              1,063   + 55.3%      1,329               1,027   + 29.4%    204                123     + 65.9%     118                 -87      n.m.      511        239      + 113.8%




INCOME STATEMENT RATIOS - FTE
                                                                                                       TOTAL                                  o/w ITALY                           o/w GERMANY                              o/w AUSTRIA
                                                                                               1/1-30/09             y/y                1/1-30/09             y/y             1/1-30/09             y/y              1/1-30/09             y/y
                                                                                        2007               2006    CHANGE        2007               2006    CHANGE    2007                2006    CHANGE     2007                2006    CHANGE


 Cost income ratio                                                                     63.5%           68.7%        -523bp      56.3%           60.0%       -364bp    77.5%           80.8%       -332bp     72.3%           84.1%       -1179bp
 Cost of risk (1)                                                                       84bp           119bp        -35bp        83bp           105bp        -22bp    52bp                64bp     -12bp     137bp           251bp        -114bp
 FTE                                                                                   35,277          34,834        443        23,003          22,935        68      8,343               7,805     538      3,931               4,094     -164
 (1)
       Change vs FY06 figure. Figures in 3Q06 column are related to FY06.



EVA - ALLOCATED CAPITAL - RWA
                                                                                                       TOTAL                                  o/w ITALY                           o/w GERMANY                              o/w AUSTRIA
                                                                                               1/1-30/09            y/y %               1/1-30/09            y/y %            1/1-30/09            y/y %             1/1-30/09            y/y %
                                                                                        2007               2006    CHANGE        2007               2006    CHANGE    2007                2006    CHANGE     2007                2006    CHANGE


 EVA                                                                                    620                213     + 190.9%      593                397     + 49.3%    25                  -46    - 153.6%     3                 -137    - 102.2%
 Allocated Capital                                                                      5,336              5,373    - 0.7%      2,967               2,778   + 6.8%    1,432               1,646   - 13.0%     937                949      - 1.3%
 Total RWA End of Period                                                               91,646          92,270       - 0.7%      50,971          47,032      + 8.4%    24,575          28,298      - 13.2%    16,101          16,940       - 5.0%
 Total RWA Average                                                                     90,700          91,532       - 0.9%      49,482          46,383      + 6.7%    25,013          28,736      - 13.0%    16,206          16,413       - 1.3%
 Credit RWA End of Period                                                              90,299          90,968       - 0.7%      49,934          46,691      + 6.9%    24,286          27,337      - 11.2%    16,079          16,940       - 5.1%
 Credit RWA Average                                                                    89,350          90,289       - 1.0%      48,646          46,134      + 5.4%    24,514          27,741      - 11.6%    16,190          16,413       - 1.4%




CUSTOMER LOANS AND DEPOSITS
                                                                                                                   TOTAL
                                                                                      September            June      Dec.     % CHANGE       % CHANGE
                                                                                        2007               2007     2006      vs. June 07     vs. Dec 06


 TOTAL CUSTOMER LOANS                                                                  142,012        141,028      138,838      + 0.7%              2.3%
 - o/w Italy                                                                           77,647          76,076       71,829      + 2.1%              8.1%
 - o/w Germany                                                                         43,801          44,418       46,235      - 1.4%          -5.3%
 - o/w Austria                                                                         20,564          20,534       20,774      + 0.1%          -1.0%


 TOTAL CUSTOMER DEPOSITS (incl. securities in issue)                                   153,345        152,026      146,181      + 0.9%          + 4.9%
 - o/w Italy                                                                           93,094          93,076       87,313      + 0.0%          + 6.6%
 - o/w Germany                                                                         31,352          29,992       29,031      + 4.5%          + 8.0%
 - o/w Austria                                                                         28,899          28,958       29,837      - 0.2%          - 3.1%




                                                                                                                                  7
                                                                                                                RETAIL DIVISION - INCOME STATEMENT QUARTERLY TREND
                                                                                                                                   TOTAL                                       TOTAL DIV.QUARTER
                                                                                       Q3      Q2       Q1        FY       Q4                Q3      Q2       Q1              Q307/Q306   Q307/Q207
                                                                                      2007    2007     2007      2006     2006             2006     2006     2006                %           %
 (mln Euro)                                                                                                                                                                    CHANGE      CHANGE

 Net interest                                                                         1,263   1,220    1,219     4,653    1,172            1,192    1,165    1,124             + 6.0%      + 3.5%

 Dividends and other income from equity investments                                    24      35        1        69       15                24      13       17                  -        - 31.4%

     Net interest income                                                              1287    1,255    1,220     4,722    1,187            1,216    1,178    1,141             + 5.8%      + 2.5%

 Net fees and commissions                                                              719     785      822      3,022     748               687     770      817              + 4.7%       - 8.4%

 Net trading, hedging and fair value income                                             6       6        7        14        3                4        5        2               + 50.0%        -

 Net other expenses/income                                                             -6       3        -4       -29      -28               -12     13        -2              - 50.0%     - 300.0%

     Net non-interest income                                                           719     794      825      3,007     723               679     788      817              + 5.9%       - 9.4%

 OPERATING INCOME                                                                     2006    2,049    2,045     7,729    1,910            1,895    1,966    1,958             + 5.9%       - 2.1%

 Payroll costs                                                                        -644    -582      -645     -2,494    -599            -625      -643     -627             + 3.0%      + 10.7%

 Other administrative expenses                                                        -687    -717      -692     -2,847    -660            -732      -724     -731              - 6.1%      - 4.2%

 Recovery of expenses                                                                  54      57       53        210      62                50      49       49               + 8.0%       - 5.3%

 Amortisation, depreciation and impairment losses on intangible and tangible assets    -26     -27      -17       -89      -24               -31     -17      -17              - 16.1%      - 3.7%

     Operating costs                                                                  -1303   -1,269   -1,301    -5,220   -1,221           -1,338   -1,335   -1,326             - 2.6%     + 2.7%

 OPERATING PROFIT                                                                      703     780      744      2,509     689               557     631      632              + 26.2%      - 9.9%

 Goodwill Impairment                                                                    0       0        0         0        0                0        0        0                n.m.        n.m.

 Provisions for risks and charges                                                      -4       -9       -5       -81      -49               -5      -11      -16              - 20.0%     - 55.6%

 Integration costs                                                                     -5       0        0         -8       -5               -1       -2       0                n.m.        n.m.

 Net write-downs of loans and provisions for guarantees and commitments               -180    -162      -220     -1,074    -348            -314      -218     -194             - 42.7%     + 11.1%

 Net income from investments                                                           -3       0       12         -3       -7               2        1        1               - 250.0%     n.m.

 PROFIT BEFORE TAX                                                                     511     609      531      1,343     280               239     401      423             + 113.8%     - 16.1%
COST INCOME RATIO                                                                     65.0%   61.9%    63.6%     67.5%    63.9%         70.6%       67.9%    67.7%




                                                                                                                                 o/w ITALY                                                                       o/w GERMANY                                                        o/w AUSTRIA
                                                                                       Q3      Q2       Q1        FY       Q4                Q3      Q2       Q1       Q3        Q2          Q1        FY       Q4        Q3      Q2      Q1      Q3      Q2      Q1      FY      Q4          Q3       Q2      Q1
                                                                                      2007    2007     2007      2006     2006             2006     2006     2006     2007      2007        2007      2006     2006      2006    2006    2006    2007    2007    2007    2006    2006        2006     2006    2006
 (mln Euro)

 Net interest                                                                          799     773      764      2,801     729               715     701      656      269       267         271      1,093     259       284     270     280     197     180     184     758     183        193       193     189

 Dividends and other income from equity investments                                    21      26        0        56       12                20       8       16       -1         2           0         3        2         1       0       0       3       7       1      10       1          3         5       1

     Net interest income                                                               820     799      764      2,857     741               735     709      672      268       269         271      1,096     261       285     270     280     200     187     185     768     184        196       198     190

 Net fees and commissions                                                              434     475      483      1,858     462               424     484      488      151       172         195       629      140       139     154     196     133     139     144     535     146        125       131     133

 Net trading, hedging and fair value income                                             3       6        6        16        4                5        3        4        0         0           1         -1       -1        -1      2       -1      3       0       0       -1      0          0         0       -1

 Net other expenses/income                                                              1      10        -1       -14      -14               -3       4        -1       4         1           4         5        -9        -2     11       5      -10      -9      -7     -19      -4         -7        -2      -6

     Net non-interest income                                                           438     491      488      1,860     452               426     491      491      155       173         200       633      130       136     167     200     126     130     137     515     142        118       129     126

 OPERATING INCOME                                                                     1258    1,290    1,252     4,717    1,193            1,161    1,200    1,163     423       442         471      1,729     391       421     437     480     326     317     322    1,283    326        314       327     316

 Payroll costs                                                                        -422     -357     -409     -1,593    -403            -394      -403     -393    -138      -143        -152       -557     -132      -139    -145    -141    -82     -83     -84     -344    -64        -92       -94     -94

 Other administrative expenses                                                        -352     -365     -345     -1,381    -345            -346      -349     -341    -194      -202        -199       -848     -211      -221    -206    -210   -143     -149    -148    -618    -104       -165      -169    -180

 Recovery of expenses                                                                  54      57       53        210      62                50      49       49        0         0           0         0        0         0       0       0       0       0       0       0       0          0         0       0

 Amortisation, depreciation and impairment losses on intangible and tangible assets    -21     -22      -11       -50      -15               -14     -11      -10      -1        -3          -3        -23       -4        -8      -5      -6     -3       -3      -3     -16      -5         -9        -1      -1

     Operating costs                                                                  -741     -687     -712     -2,814    -701            -704      -714     -695    -333      -348        -354      -1,428    -347      -368    -356    -357   -228     -235    -235    -978    -173       -266      -264    -275

 OPERATING PROFIT                                                                      517     603      540      1,903     492               457     486      468      90        94          117       301      44        53      81      123     98      82      87      305     153         48       63      41

 Goodwill Impairment                                                                    0       0        0         0        0                0        0        0        0         0           0         0        0         0       0       0       0       0       0       0       0          0         0       0

 Provisions for risks and charges                                                      -12      -9       -4       -65      -32               -6      -10      -17       1         2           0         -9       -6        -5      1       1       5       -1      -1      -7     -11         5         -1      0

 Integration costs                                                                     -5       0        0         0        0                 -       0        0        0         0           0         -7       -5        -1      -1      0       0       0       0       -1      0              -     -1      0

 Net write-downs of loans and provisions for guarantees and commitments               -108     -90      -103      -486     -135            -123      -111     -117     -15       -13         -67       -174     -45       -49     -51     -29     -57     -59     -50     -414    -168       -143      -55     -48

 Net income from investments                                                            0       0        0         -1       -1               0        0        0       -3        -2           0         0        0         0       0       0       0       2      12       -2      -6         2         1       1

 PROFIT BEFORE TAX                                                                     392     504      433      1,351     324               328     365      334      73        81          50        111      -12        -2     30      95      46      24      48      -119    -32        -88        7       -6

COST INCOME RATIO                                                                     58.9%   53.3%    56.9%     59.7%    58.8%         60.6%       59.5%    59.8%    78.7%    78.7%       75.2%      82.6%    88.7%    87.4%    81.5%   74.4%   69.9%   74.1%   73.0%   76.2%   53.1%      84.7%     80.7%   87.0%




                                                                                                                                                                        8
                                                                                                              CORPORATE DIVISION - KEY FIGURES
INCOME STATEMENT
                                                                                                        TOTAL                            o/w CORPORATE ITALY              o/w CORPORATE GERMANY                    o/w CORPORATE AUSTRIA                   o/w GLOBAL LEASING              TOTAL DIVISION QUARTER
                                                                                                1/1-30/09             y/y %              1/1-30/09            y/y %            1/1-30/09            y/y %            1/1-30/09            y/y %            1/1-30/09            y/y %     Q3        Q3         y/y %
                                                                                        2007                2006    CHANGE       2007                2006    CHANGE    2007                2006    CHANGE    2007                2006    CHANGE    2007                2006    CHANGE    2007       2006     CHANGE
 (mln Euro)

 Net interest                                                                           2,616               2,501    + 4.6%      1,195               1,115   + 7.2%     761                741     + 2.7%     363                358     + 1.4%     296                287     + 3.1%    863        827       + 4.4%

 Dividends and other income from equity investments                                      63                  33      + 90.9%      14                  0        n.m.     13                  10     + 30.0%    36                  21     + 71.4%     0                  2       n.m.      14         5         n.m.

        Net interest income                                                             2,679               2,534    + 5.7%      1,209               1,115   + 8.4%     774                751     + 3.1%     399                379     + 5.3%     296                289     + 2.4%    877        832       + 5.4%

 Net fees and commissions                                                               945                 898      + 5.2%       350                340     + 2.9%     324                320     + 1.3%     262                233     + 12.4%     9                  5      + 80.0%   289        280       + 3.2%

 Net trading, hedging and fair value income                                              61                  82      - 25.6%      62                  78     - 20.5%     -1                 2       n.m.       0                  0       n.m.       0                  2       n.m.      24         20       + 20.0%

 Net other expenses/income                                                              172                 104      + 65.4%       -2                 -5     - 60.0%     3                  8      - 62.5%     -6                 -7     - 14.3%    178                108     + 64.8%    70         28        n.m.

        Net non-interest income                                                         1,178               1,084    + 8.7%       410                413      - 0.7%    326                330      - 1.2%    256                226     + 13.3%    187                115     + 62.6%   383        328       + 16.8%

 OPERATING INCOME                                                                       3,857               3,618    + 6.6%      1,619               1,528   + 6.0%    1,100               1,081   + 1.8%     655                605     + 8.3%     483                404     + 19.6%   1,260     1,160      + 8.6%

 Payroll costs                                                                          -562                -548     + 2.6%       -262               -255    + 2.7%     -145               -140    + 3.6%     -73                 -76     - 3.9%    -82                 -77    + 6.5%    -190       -182      + 4.4%

 Other administrative expenses                                                          -615                -623      - 1.3%      -200               -187    + 7.0%     -235               -247     - 4.9%    -124               -142    - 12.7%    -54                 -47    + 14.9%   -214       -206      + 3.9%

 Recovery of expenses                                                                    9                   9          -          8                  9      - 11.1%     0                  0       n.m.       1                  0       n.m.       0                  0       n.m.      3          5        - 40.0%

 Amortisation, depreciation and impairment losses on intangible and tangible assets      -92                 -68     + 35.3%       -1                 -2     - 50.0%     -2                 -4     - 50.0%     -2                 6       n.m.      -88                 -68    + 29.4%    -33       -26       + 26.9%

        Operating costs                                                                -1,260           -1,230       + 2.4%       -455               -435    + 4.6%     -382               -391     - 2.3%    -198               -212     - 6.6%    -224               -192    + 16.7%   -434       -409      + 6.1%

 OPERATING PROFIT                                                                       2,597               2,388    + 8.8%      1,164               1,093   + 6.5%     718                690     + 4.1%     457                393     + 16.3%    259                212     + 22.2%   826        751       + 10.0%

 Goodwill Impairment                                                                     0                   0        n.m.         0                  0        n.m.      0                  0       n.m.       0                  0       n.m.       0                  0       n.m.      0          0         n.m.

 Provisions for risks and charges                                                        -62                 -42     + 47.6%      -52                 -32    + 62.5%     -6                 -9     - 33.3%     -1                 1       n.m.       -2                 -2        -       -39       -18        n.m.

 Integration costs                                                                       -3                  -1       n.m.         -3                 0        n.m.      0                  -1      n.m.       0                  0       n.m.       0                  0       n.m.      -3         -1        n.m.

 Net write-downs of loans and provisions for guarantees and commitments                 -542                -541     + 0.2%       -317               -289    + 9.7%     -138               -179    - 22.9%    -31                 -39    - 20.5%    -57                 -34    + 67.6%   -172       -203      - 15.3%

 Net income from investments                                                             50                  37      + 35.1%      35                  28     + 25.0%     -1                 8       n.m.      -12                 -5      n.m.      28                  6       n.m.      23         -5        n.m.

 PROFIT BEFORE TAX                                                                      2,040               1,841    + 10.8%      827                800     + 3.4%     573                509     + 12.6%    413                350     + 18.0%    228                182     + 25.3%   635        524       + 21.2%




INCOME STATEMENT RATIOS - FTE
                                                                                                        TOTAL                            o/w CORPORATE ITALY              o/w CORPORATE GERMANY                    o/w CORPORATE AUSTRIA                   o/w GLOBAL LEASING
                                                                                                1/1-30/09              y/y               1/1-30/09             y/y             1/1-30/09             y/y             1/1-30/09             y/y             1/1-30/09             y/y
                                                                                        2007                2006    CHANGE       2007                2006    CHANGE    2007                2006    CHANGE    2007                2006    CHANGE    2007                2006    CHANGE


 Cost income ratio                                                                     32.7%            34.0%        -133bp      28.1%           28.5%        -36bp    34.7%           36.2%       -144bp    30.2%           35.0%       -481bp    46.4%           47.5%       -115bp
 Cost of risk (1)                                                                       45bp                51bp      -7bp       57bp                59bp      -2bp    41bp                52bp     -11bp    16bp                42bp     -26bp    46bp                33bp     13bp
 FTE                                                                                    9,257               8,816      441       3,893               3,825     68      2,130               1,881     249      933                956       -23     2,300               2,154    146
 (1)
       Change vs FY06 figure. Figures in 3Q06 column are related to FY06.



EVA - ALLOCATED CAPITAL - RWA
                                                                                                        TOTAL                            o/w CORPORATE ITALY              o/w CORPORATE GERMANY                    o/w CORPORATE AUSTRIA                   o/w GLOBAL LEASING
                                                                                                1/1-30/09             y/y %              1/1-30/09            y/y %            1/1-30/09            y/y %            1/1-30/09            y/y %            1/1-30/09            y/y %
                                                                                        2007                2006    CHANGE       2007                2006    CHANGE    2007                2006    CHANGE    2007                2006    CHANGE    2007                2006    CHANGE


 EVA                                                                                    612                 436      + 40.3%      181                160     + 13.1%    153                 84     + 83.1%    214                140     + 53.3%    92                  58     + 58.0%
 Allocated Capital                                                                     10,481           10,343       + 1.3%      4,893               4,551   + 7.5%    2,867               3,240   - 11.5%   1,633               1,573   + 3.8%    1,090               979     + 11.3%
 Total RWA End of Period                                                               174,062         166,489       + 4.5%      79,810          72,063      + 10.8%   47,444          50,772       - 6.6%   27,355          26,406      + 3.6%    19,453          17,247      + 12.8%
 Total RWA Average                                                                     166,872         164,805       + 1.3%      75,915          70,597      + 7.5%    46,560          52,625      - 11.5%   26,270          25,317      + 3.8%    18,127          16,266      + 11.4%
 Credit RWA End of Period                                                              169,665         162,034       + 4.7%      78,491          70,289      + 11.7%   46,085          49,192       - 6.3%   27,196          26,405      + 3.0%    17,893          16,147      + 10.8%
 Credit RWA Average                                                                    162,365         160,569       + 1.1%      74,434          68,999      + 7.9%    45,120          50,990      - 11.5%   26,195          25,314      + 3.5%    16,615          15,266      + 8.8%




CORPORATE DIVISION - CUSTOMER LOANS AND DEPOSITS
                                                                                                        TOTAL
                                                                                      September             Dec     % CHANGE
                                                                                        2007                2006    vs. Dec 06


 TOTAL CUSTOMER LOANS                                                                  195,506         182,337       + 15.3%
 - o/w Italy                                                                           72,634           65,712       + 10.5%
 - o/w Germany                                                                         57,936           57,214       + 1.3%
 - o/w Austria                                                                         41,387           38,995       + 6.1%
 -o/w Global Leasing                                                                   23,549           20,416       + 15.3%


 TOTAL CUSTOMER DEPOSITS (incl. securities in issue)                                   93,607           83,819       + 11.7%
 - o/w Italy                                                                           25,493           28,102        - 9.3%
 - o/w Germany                                                                         38,795           29,641       + 30.9%
 - o/w Austria                                                                         22,591           18,910       + 19.5%
 -o/w Global Leasing                                                                    6,727               7,166     - 6.1%




                                                                                                                                                                               9
                                                                                                                                               CORPORATE DIVISION - INCOME STATEMENT QUARTERLY TREND
                                                                                                                                 TOTAL                                    TOT DIVISION QUARTER

                                                                                       Q3      Q2      Q1      FY         Q4              Q3      Q2      Q1             Q307/Q306    Q307/Q207
                                                                                      2007    2007    2007    2006       2006            2006    2006    2006               %             %
 (mln Euro)                                                                                                                                                               CHANGE       CHANGE

 Net interest                                                                          863     875     878    3,391       890            827      840     834             + 4.4%        - 1.4%

 Dividends and other income from equity investments                                    14      41       8      56         23              5       14      14             + 180.0%       - 65.9%

    Net interest income                                                                877     916     886    3,447       913            832      854     848             + 5.4%        - 4.3%

 Net fees and commissions                                                              289     326     330    1,209       311            280      304     314             + 3.2%        - 11.3%

 Net trading, hedging and fair value income                                            24      21      16      102        20              20      34      28              + 20.0%      + 14.3%

 Net other expenses/income                                                             70      59      43      131        27              28      43      33             + 150.0%      + 18.6%

    Net non-interest income                                                            383     406     389    1,442       358            328      381     375             + 16.8%       - 5.7%

 OPERATING INCOME                                                                     1260    1,322   1,275   4,889      1,271           1,160   1,235   1,223            + 8.6%        - 4.7%

 Payroll costs                                                                        -190    -179     -193    -730      -182            -182     -187    -179            + 4.4%        + 6.1%

 Other administrative expenses                                                        -214    -206     -195    -827      -204            -206     -209    -208            + 3.9%        + 3.9%

 Recovery of expenses                                                                   3       3       3      11          2              5        2       2              - 40.0%         -

 Amortisation, depreciation and impairment losses on intangible and tangible assets    -33     -31     -28     -105       -37             -26     -21     -21             + 26.9%       + 6.5%

    Operating costs                                                                   -434    -413     -413   -1,651     -421            -409     -415    -406            + 6.1%        + 5.1%

 OPERATING PROFIT                                                                      826     909     862    3,238       850            751      820     817             + 10.0%       - 9.1%

 Goodwill Impairment                                                                    0       0       0       0          0              0        0       0               n.m.          n.m.

 Provisions for risks and charges                                                      -39     -12     -11     -82        -40             -18     -14     -10            + 116.7%      + 225.0%

 Integration costs                                                                     -3       0       0       -1         0              -1       0       0             + 200.0%        n.m.

 Net write-downs of loans and provisions for guarantees and commitments               -172    -193     -177    -826      -285            -203     -166    -172            - 15.3%       - 10.9%

 Net income from investments                                                           23       0      27      38          1              -5      17      25              - 560.0%       n.m.

 PROFIT BEFORE TAX                                                                     635     704     701    2,367       526            524      657     660             + 21.2%       - 9.8%
COST INCOME RATIO                                                                     34.4%   31.2%   32.4%   33.8%     33.1%        35.3%       33.6%   33.2%




                                                                                                                       o/w CORPORATE ITALY                                                                o/w CORPORATE GERMANY                                                   o/w CORPORATE AUSTRIA                                                   o/w GLOBAL LEASING
                                                                                       Q3      Q2      Q1      FY         Q4              Q3      Q2      Q1      Q3        Q2           Q1        FY             Q4     Q3        Q2      Q1      Q3      Q2      Q1      FY         Q4        Q3         Q2      Q1      Q3      Q2      Q1      FY       Q4        Q3        Q2      Q1
                                                                                      2007    2007    2007    2006       2006            2006    2006    2006    2007      2007          2007     2006         2006     2006      2006    2006    2007    2007    2007    2006       2006      2006       2006    2006    2007    2007    2007    2006      2006      2006     2006    2006
 (mln Euro)

 Net interest                                                                          400     399     396    1,517       402            382      375     358     247       260          254       979            238    232       248     261     128     116     119     475        117       118        123     117     87      100     109     419      132        95       95      97

 Dividends and other income from equity investments                                    -1      15       0       7          7              0        0       0       1        12            0         8             -2      0         6       4      14      14       8      37         16        6           5      10      -1       1       0       4        2         0         1       1

    Net interest income                                                                399     414     396    1,524       409            382      375     358     248       272          254       987            236    232       254     265     142     130     127     512        133       124        128     127     86      101     109     423      134        95       96      98

 Net fees and commissions                                                              118     122     110     472        132            109      112     119     96        107          121       410            90     106       102     112     72      93      97      310        77        64         87      82       3       3       3      17        12        1         2       2

 Net trading, hedging and fair value income                                            27      20      15      97         19              13      35      30      -1        -1            1         4             2       4         -2      0       0       0       0       0          0        2           0      -2      -2       2       0       1        -1        0         1       1

 Net other expenses/income                                                              0       -1      -1      -7        -2              -4       -1      0       1         1            1         2             -6      -1        7       2      -4      -1      -1       5         12        -7          0       0      74      60      44      132       24        40       37      31

    Net non-interest income                                                            145     141     124     562        149            118      146     149     96        107          123       416            86     109       107     114     68      92      96      315        89        59         87      80      75      65      47      150       35        41       40      34

 OPERATING INCOME                                                                      544     555     520    2,086       558            500      521     507     344       379          377      1,403           322    341       361     379     210     222     223     827        222       183        215     207     161     166     156     573      169       136       136     132

 Payroll costs                                                                         -94     -77     -91     -342       -87             -84     -88     -83     -47       -47          -51       -186           -46    -46       -48     -46     -24     -25     -24     -96        -20       -26        -25     -25     -26     -28     -28     -106     -29       -26       -26     -25

 Other administrative expenses                                                         -67     -68     -65     -248       -61             -62     -60     -65     -85       -75          -75       -332           -85    -85       -78     -84     -43     -43     -38     -179       -37       -43        -55     -44     -17     -20     -17     -70      -23       -16       -15     -16

 Recovery of expenses                                                                   3       2       3      11          2              5        2       2       0         0            0         0             0       0         0       0       0       1       0       1          1        0           0       0       0       0       0       0        0         0         0       0

 Amortisation, depreciation and impairment losses on intangible and tangible assets    0        -1      0       -2         0              -1       0       -1     -1        -1            0         -5            -1      -2        -1      -1     -1       0      -1       0         -6        2           2       2      -31     -30     -27     -98      -30       -25       -22     -21

    Operating costs                                                                   -158     -144    -153    -581      -146            -142     -146    -147   -133      -123          -126      -523        -132      -133      -127    -131    -68     -67     -63     -274       -62       -67        -78     -67     -74     -78     -72     -274     -82       -67       -63     -62

 OPERATING PROFIT                                                                      386     411     367    1,505       412            358      375     360     211       256          251       880            190    208       234     248     142     155     160     553        160       116        137     140     87      88      84      299       87        69       73      70

 Goodwill Impairment                                                                    0       0       0       0          0              0        0       0       0         0            0         0             0       0         0       0       0       0       0       0          0        0           0       0       0       0       0       0        0         0         0       0

 Provisions for risks and charges                                                      -29     -12     -11     -67        -35             -10     -12     -10     -7         1            0        -16            -7      -6        -4      1      -1       0       0       1          0        0           1       0       0      -2       0       0        2         -2        1      -1

 Integration costs                                                                     -3       0       0       0          0               -       0       0       0         0            0         -1            0       -1        0       0       0       0       0       0          0         -          0       0       0       0       0       0        0         -         0       0

 Net write-downs of loans and provisions for guarantees and commitments               -103     -115    -99     -407      -118             -97     -113    -79     -37       -50          -51       -263           -84    -77       -40     -62     -10     -8      -13     -106       -67       -19        -1      -19     -25     -17     -15     -51      -17        -8       -14     -12

 Net income from investments                                                            9       0      26      29          1              -1      16      13      -1         1            -1        5             -3      -4        6       6      -11     -3       2       5         10        -1         -6       2      27       2      -1       0        -6        0         3       3

 PROFIT BEFORE TAX                                                                     260     284     283    1,060       260            250      266     284     166       208          199       605            96     120       196     193     120     144     149     453        103       96         131     123     89      71      68      248       66        59       63      60

COST INCOME RATIO                                                                     29.0%   25.9%   29.4%   27.9%     26.2%        28.4%       28.0%   29.0%   38.7%    32.5%        33.4%      37.3%       41.0%     39.0%     35.2%   34.6%   32.4%   30.2%   28.3%   33.1%     27.9%     36.6%       36.3%   32.4%   46.0%   47.0%   46.2%   47.8%    48.5%     49.3%     46.3%   47.0%




                                                                                                                                                                                                             10
                                                                                      PRIVATE BANKING DIVISION - KEY FIGURES
INCOME STATEMENT
                                                                                                        TOTAL                                      o/w ITALY                              o/w GERMANY                          o/w AUSTRIA                 TOTAL DIVISION QUARTER
                                                                                                1/1-30/09           y/y %                    1/1-30/09                y/y %           1/1-30/09           y/y %            1/1-30/09           y/y %     Q3         Q3         y/y %
                                                                                         2007               2006   CHANGE            2007                2006        CHANGE    2007               2006   CHANGE     2007               2006   CHANGE     2007       2006     CHANGE
 (mln Euro)

 Net interest                                                                            223                207    + 7.7%             106                 85         + 24.7%    105               112     - 6.3%     11                 9     + 22.2%    75          72       + 4.2%

 Dividends and other income from equity investments                                       18                 1      n.m.               0                   0          n.m.      17                 0       n.m.       1                 1        -       11          1         n.m.

     Net interest income                                                                 241                208    + 15.9%            106                 85         + 24.7%    122               112    + 8.9%      12                10     + 20.0%    86          73       + 17.8%

 Net fees and commissions                                                                585                569    + 2.8%             294                 291        + 1.0%     236               216     + 9.3%     55                62     - 11.3%    176        156       + 12.8%

 Net trading, hedging and fair value income                                               -5                -10    - 50.0%             1                   2         - 50.0%    -7                -12    - 41.7%      1                 0      n.m.       0          1        - 100.0%

 Net other expenses/income                                                                24                18     + 33.3%             -2                 -2            -       -1                 2     - 150.0%    27                19     + 42.1%     8          4       + 100.0%

     Net non-interest income                                                             604                577    + 4.7%             293                 291        + 0.7%     228               206    + 10.7%     83                81     + 2.5%     184        161       + 14.3%

 OPERATING INCOME                                                                        845                785    + 7.6%             399                 376        + 6.1%     350               318    + 10.1%     95                91     + 4.4%     270        234       + 15.4%

 Payroll costs                                                                           -242               -233   + 3.9%             -133               -130        + 2.3%     -69               -66     + 4.5%     -40               -37    + 8.1%     -83        -80       + 3.8%

 Other administrative expenses                                                           -272               -280    - 2.9%            -124               -131         - 5.3%   -134               -133    + 0.8%     -14               -15     - 6.7%    -88        -86       + 2.3%

 Recovery of expenses                                                                     10                 9     + 11.1%            10                   9         + 11.1%     0                 0       n.m.       0                 0      n.m.       3          3           -

 Amortisation, depreciation and impairment losses on intangible and tangible assets       -11               -14    - 21.4%             -3                 -4         - 25.0%    -6                 -8    - 25.0%     -2                 -2       -        -3         -5       - 40.0%

     Operating costs                                                                     -515               -518    - 0.6%            -250               -256         - 2.3%   -209               -207   + 1.0%      -56               -54    + 3.7%     -171       -168      + 1.8%

 OPERATING PROFIT                                                                        330                267    + 23.6%            149                 120        + 24.2%    141               111    + 27.0%     39                37     + 5.4%     99          66       + 50.0%

 Goodwill Impairment                                                                      0                  0      n.m.               0                   0          n.m.       0                 0       n.m.       0                 0      n.m.       0          0         n.m.

 Provisions for risks and charges                                                         -1                -12    - 91.7%             -7                 -15        - 53.3%     7                 4     + 75.0%     -1                 -1       -        0          -4       - 100.0%

 Integration costs                                                                        0                  -2    - 100.0%            0                   0          n.m.       0                 -2    - 100.0%     0                 0      n.m.       0          -2       - 100.0%

 Net write-downs of loans and provisions for guarantees and commitments                   -5                 -4    25.0%               0                  -2         -100.0%    -6                 -3    + 100.0%     1                 0      n.m.       0          -3       - 100.0%

 Net income from investments                                                              0                  -2    - 100.0%            0                   0          n.m.       0                 -1    - 100.0%     0                 -1    - 100.0%    0          -1       - 100.0%

 PROFIT BEFORE TAX                                                                       324                247    + 31.2%            142                 103        + 37.9%    142               109    + 30.3%     39                35     + 11.4%    99          56       + 76.8%




INCOME STATEMENT RATIOS - FTE
                                                                                                        TOTAL                                      o/w ITALY                              o/w GERMANY                          o/w AUSTRIA
                                                                                                1/1-30/09            y/y                     1/1-30/09                 y/y            1/1-30/09            y/y             1/1-30/09            y/y
                                                                                         2007               2006   CHANGE            2007                2006        CHANGE    2007               2006   CHANGE     2007               2006   CHANGE


 Cost income ratio                                                                      60.9%           66.0%      -504bp            62.7%               68.1%       -543bp    59.7%          65.1%       -538bp    58.9%          59.3%       -39bp
 FTE                                                                                     3,527          3,350        177             1,713               1,692         21      1,259          1,097        162       556               561      -5




EVA - ALLOCATED CAPITAL - RWA
                                                                                                        TOTAL                                      o/w ITALY                              o/w GERMANY                          o/w AUSTRIA
                                                                                                1/1-30/09           y/y %                    1/1-30/09                y/y %           1/1-30/09           y/y %            1/1-30/09           y/y %
                                                                                         2007               2006   CHANGE            2007                2006        CHANGE    2007               2006   CHANGE     2007               2006   CHANGE


 EVA                                                                                     160                112    + 42.1%            60                  39         + 52.9%    69                48     + 45.2%     25                19     + 31.3%
 Allocated Capital                                                                       385                364    + 5.8%             207                 187        + 10.7%    214               232     - 7.8%     40                40     + 1.7%
 Total RWA End of Period                                                                 6,404          6,714       - 4.6%           2,210               2,147       + 2.9%    3,755          4,175      - 10.0%     439               392    + 12.1%
 Total RWA Average                                                                       6,419          6,549       - 2.0%           2,196               1,988       + 10.5%   3,799          4,189       - 9.3%     424               373    + 13.7%
 Credit RWA End of Period                                                                6,256          6,405       - 2.3%           2,196               1,999       + 9.8%    3,621          4,014       - 9.8%     439               392    + 12.1%
 Credit RWA Average                                                                      6,250          6,271       - 0.3%           2,171               1,877       + 15.6%   3,655          4,021       - 9.1%     424               373    + 13.7%


TOTAL FINANCIAL ASSETS
                                                                                                                             TOTAL
                                                                                       September            June    Dec         % CHANGE           % CHANGE
                                                                                         2007               2007    2006        vs. June 07         vs. Dec 06
 (billion euro)
 TOTAL FINANCIAL ASSETS                                                                  195.1          193.9       183.5            + 0.6%          + 6.3%
 - o/w Italy                                                                             108.7          108.6       104.2            + 0.1%          + 4.3%
 - o/w Germany                                                                           70.3               69.2    65.2             + 1.6%          + 8.0%
 - o/w Austria                                                                           16.0               16.1    14.1             - 0.6%          + 13.8%




                                                                                                                                                                11
                                                                                                              PRIVATE BANKING DIVISION - INCOME STATEMENT QUARTERLY TREND
                                                                                                                                TOTAL                                          TOTAL DIVISION QUARTER
                                                                                       Q3      Q2      Q1        FY      Q4                Q3     Q2      Q1              Q307/Q306           Q307/Q207
                                                                                      2007    2007    2007      2006    2006            2006     2006    2006                    %               %
 (mln Euro)                                                                                                                                                                   CHANGE           CHANGE

 Net interest                                                                          75      74      74        282     75                72     72      63                   + 4.2%          + 1.4%

 Dividends and other income from equity investments                                    11       5       2        10       9                1       0       0                    n.m.          + 120.0%

     Net interest income                                                               86      79      76        292     84                73     72      63                  + 17.8%          + 8.9%

 Net fees and commissions                                                              176     202     207       755     186               156    197     216                 + 12.8%          - 12.9%

 Net trading, hedging and fair value income                                             0      -6       1         -8      2                1       -9      -2                 - 100.0%         - 100.0%

 Net other expenses/income                                                              8      10       6        28      10                4       9       5                  + 100.0%         - 20.0%

     Net non-interest income                                                           184     206     214       775     198               161    197     219                 + 14.3%          - 10.7%

 OPERATING INCOME                                                                      270     285     290      1,067    282               234    269     282                 + 15.4%           - 5.3%

 Payroll costs                                                                         -83     -79     -80       -321    -88               -80    -77     -76                  + 3.8%          + 5.1%

 Other administrative expenses                                                         -88     -91     -93       -391    -111              -86    -97     -97                  + 2.3%           - 3.3%

 Recovery of expenses                                                                   3       4       3        12       3                3       3       3                     -             - 25.0%

 Amortisation, depreciation and impairment losses on intangible and tangible assets    -3      -4       -4       -18      -4               -5      -4      -5                 - 40.0%          - 25.0%

     Operating costs                                                                  -171    -170     -174      -718    -200           -168      -175    -175                 + 1.8%          + 0.6%

 OPERATING PROFIT                                                                      99      115     116       349     82                66     94      107                 + 50.0%          - 13.9%

 Goodwill Impairment                                                                    0       0       0         0       0                0       0       0                    n.m.            n.m.

 Provisions for risks and charges                                                       0       3       -4       -28     -16               -4      -4      -4                   n.m.            n.m.

 Integration costs                                                                      0       0       0         0       2                -2      0       0                    n.m.            n.m.

 Net write-downs of loans and provisions for guarantees and commitments                 0      -1       -4       -13      -9               -3      3       -4                   n.m.            n.m.

 Net income from investments                                                            0       0       0        22      24                -1      -1      0                    n.m.            n.m.

 PROFIT BEFORE TAX                                                                     99      117     108       330     83                56     92      99                  + 76.8%          - 15.4%
COST INCOME RATIO                                                                     63.3%   59.6%   60.0%     67.3%   70.9%         71.8%      65.1%   62.1%




                                                                                                                               o/w ITALY                                                                          o/w GERMANY                                                              o/w AUSTRIA
                                                                                       Q3      Q2      Q1        FY      Q4                Q3     Q2      Q1      Q3            Q2               Q1        FY         Q4         Q3      Q2      Q1      Q3      Q2      Q1      FY      Q4          Q3       Q2      Q1
                                                                                      2007    2007    2007      2006    2006            2006     2006    2006    2007          2007             2007      2006       2006       2006    2006    2006    2007    2007    2007    2006    2006        2006     2006    2006
 (mln Euro)

 Net interest                                                                          35      36      35        120     35                29     30      26      35            35               35        149        37         39      39      34       4       3       4      13       4          3         3       3

 Dividends and other income from equity investments                                     0       0       0         0       0                0       0       0      10             5                2         9         9           0       0       0       1       0       0       1       0          1         0       0

     Net interest income                                                               35      36      35        120     35                29     30      26      45            40               37        158        46         39      39      34       5       3       4      14       4          4         3       3

 Net fees and commissions                                                              90      104     100       389     98                84     99      108     70            79               87        289        73         53      76      87      15      20      20      77      15          18       23      21

 Net trading, hedging and fair value income                                            -1       0       2         4       2                1       -1      2       1             -7              -1        -13        -1          1      -9      -4       0       1       0       1       1          0         0       0

 Net other expenses/income                                                              0      -1       -1        -4      -2               -1      -1      0      -1             0                0         2         0           0       2       0      10      10       7      30      11          6         8       5

     Net non-interest income                                                           89      103     101       389     98                84     97      110     70            72               86        278        72         54      69      83      25      31      27      108     27          24       31      26

 OPERATING INCOME                                                                      124     139     136       509     133               113    127     136     115           112              123       436       118         93      108     117     30      34      31      122     31          28       34      29

 Payroll costs                                                                         -48     -41     -44       -180    -50               -43    -43     -44     -21           -25              -23       -90        -24        -23     -22     -21     -14     -13     -13     -51     -14         -15      -11     -11

 Other administrative expenses                                                         -40     -41     -43       -181    -50               -41    -45     -45     -44           -44              -46       -184       -51        -40     -47     -46     -4      -6      -4      -26     -11         -2       -7      -6

 Recovery of expenses                                                                   4       3       3        12       3                3       3       3       0             0                0         0         0           0       0       0       0       0       0       0       0          0         0       0

 Amortisation, depreciation and impairment losses on intangible and tangible assets    -1      -1       -1        -5      -1               -2      -1      -1     -2             -1              -3        -10        -2         -3      -2      -3      -1       0      -1      -3      -1          0        -1      -1

     Operating costs                                                                   -85     -80     -85       -354    -98               -83    -86     -87     -67           -70              -72       -284       -77        -66     -71     -70     -19     -19     -18     -80     -26         -17      -19     -18

 OPERATING PROFIT                                                                      39      59      51        155     35                30     41      49      48            42               51        152        41         27      37      47      11      15      13      42       5          11       15      11

 Goodwill Impairment                                                                    0       0       0         0       0                0       0       0       0             0                0         0         0           0       0       0       0       0       0       0       0          0         0       0

 Provisions for risks and charges                                                      -1      -2       -4       -28     -13               -5      -5      -5      2             5                0         1         -3          0       2       2       0      -1       0      -1       0          0         0      -1

 Integration costs                                                                      0       0       0         0       0                 -      0       0       0             0                0         0         2          -2       0       0       0       0       0       0       0              -     0       0

 Net write-downs of loans and provisions for guarantees and commitments                -1       1       0         -3      -1               0       -2      0       0             -2              -4        -10        -7         -3       4      -4       1       0       0       1       1          0         0       0

 Net income from investments                                                            0       0       0        23      23                0       0       0      -1             0                1         0         1           0      -1       0       0       0       0      -1       0          -1        0       0

 PROFIT BEFORE TAX                                                                     37      58      47        147     44                25     34      44      49            45               48        143        34         22      42      45      12      14      13      41       6          10       15      10

COST INCOME RATIO                                                                     68.5%   57.6%   62.5%     69.5%   73.7%         73.5%      67.7%   64.0%   58.3%        62.5%            58.5%      65.1%     65.3%       71.0%   65.7%   59.8%   63.3%   55.9%   58.1%   65.6%   83.9%      60.7%     55.9%   62.1%




                                                                                                                                                                         12
                                                  ASSET MANAGEMENT DIVISION - KEY FIGURES & QUARTERLY TREND
INCOME STATEMENT & QUARTERLY TREND

                                                                                              1/1-30/09            y/y %      Q3      Q2           Q1     3Q07/3Q06    FY      Q4      Q3      Q2     Q1

                                                                                      2007                2006    CHANGE     2007    2007         2007       %        2006    2006    2006    2006    2006
 (mln Euro)

 Net interest                                                                          31                  13     + 138.5%    18       7            6       n.m.       19       6       4       3      6

 Dividends and other income from equity investments                                     7                  6      + 16.7%     2        3            2         -        12       6       2       2      2

      Net interest income                                                              38                  19     + 100.0%    20      10            8     + 233.3%     31      12       6       5      8

 Net fees and commissions                                                             1,016               945      + 7.5%     330     361          325     + 3.4%     1,288    343     319     309    317

 Net trading, hedging and fair value income                                            -14                 0        n.m.      -13     -2            1       n.m.        2       2       1      -1      0

 Net other expenses/income                                                              1                  -1       n.m.      6       -6            1       n.m.       11      12      -2      -1      2

      Net non-interest income                                                         1,003               944      + 6.3%     323     353          327     + 1.6%     1,301    357     318     307    319

 OPERATING INCOME                                                                     1,041               963      + 8.1%     343     363          335     + 5.9%     1,332    369     324     312    327

 Payroll costs                                                                        -283                -263     + 7.6%     -86    -105          -92      - 1.1%    -366    -103     -87     -85    -91

 Other administrative expenses                                                        -160                -169     - 5.3%     -56     -54          -50     + 9.8%     -243     -74     -51     -59    -59

 Recovery of expenses                                                                  12                  11      + 9.1%     4        4            4         -        15       4       4       7      0

 Amortisation, depreciation and impairment losses on intangible and tangible assets    -17                 -17       -        -6      -6           -5      + 20.0%     -22     -5      -5      -2     -10

      Operating costs                                                                 -448                -438     + 2.3%    -144    -161         -143     + 3.6%     -616    -178    -139    -139    -160

 OPERATING PROFIT                                                                      593                525     + 13.0%     199     202          192     + 7.6%      716     191     185     173    167

 Goodwill impairment                                                                   -1                  0        n.m.      0       -1            0       n.m.       -9      -9       0       0      0

 Provisions for risks and charges                                                       2                  -10    - 120.0%    -1       3            0      - 91.7%     -1       9      -12      2      0

 Integration costs                                                                     -5                 - 22    - 77.3%     -4       3           -4      - 81.0%     -43     -21     -21     -1      0

 Net write-downs of loans and provisions for guarantees and commitments                 0                  0        n.m.      0        0            0       n.m.        0       0       0       0      0

 Net income from investments                                                            2                  2         -        1        1            0         -         4       2       1       0      1

 PROFIT BEFORE TAX                                                                     591                495     + 19.4%     195     208          188     + 27.5%     667     172     153     174    168



INCOME STATEMENT RATIOS - FTE

                                                                                              1/1-30/09             y/y       Q3      Q2           Q1        FY        Q4      Q3      Q2      Q1

                                                                                      2007                2006    CHANGE     2007    2007         2007      2006      2006    2006    2006    2006


 Cost income ratio                                                                    43.0%           45.5%        -245bp    42.0%   44.4%        42.7%     46.2%     48.2%   42.9%   44.6%   48.9%
 FTE                                                                                  2,353               2,278     75




EVA - ALLOCATED CAPITAL - RWA
                                                                                                      TOTAL
                                                                                              1/1-30/09            y/y %
                                                                                      2007                2006    CHANGE


 EVA                                                                                   399                325     + 22.6%
 Allocated Capital                                                                    1,248               1,151    + 8.4%
 Total RWA End of Period                                                               819                1,176   - 30.4%
 Total RWA Average                                                                    1,112               1,087    + 2.3%
 Credit RWA End of Period                                                              696                775     - 10.3%
 Credit RWA Average                                                                    659                621      + 6.2%


ASSET UNDER MANAGEMENT
                                                                                                      TOTAL
                                                                                      Sept                Dec        %
 (billion euro)                                                                       2007                2006    CHANGE
 Italy                                                                                108.4               111.1    - 2.4%
 USA                                                                                  48.3                46.9     + 3.0%
 International                                                                        14.9                13.1    + 14.1%
 Germany                                                                              43.8                49.9    - 12.2%
 CEE                                                                                  10.3                 7.0    + 46.8%
 Pioneer Austria (BACA)                                                               17.3                17.9     - 3.3%
 Total                                                                                243.1               245.9    - 1.2%




                                                                                                                                             13
                                 MARKETS & INVESTMENT BANKING DIVISION - KEY FIGURES & QUARTERLY TREND
INCOME STATEMENT & QUARTERLY TREND

                                                                                               1/1-30/09           y/y %         Q3           Q2         Q1     3Q07/3Q06    FY       Q4      Q3      Q2     Q1

                                                                                        2007               2006   CHANGE        2007         2007       2007       %        2006     2006    2006    2006    2006
 (mln Euro)

 Net interest                                                                           868                691    + 25.6%       280           263       325      + 11.1%    1,002    311      252     202    237

 Dividends and other income from equity investments                                     179                100    + 79.0%        29           92         58      + 7.4%      135      35      27      31      42

    Net interest income                                                                 1,047              791    + 32.4%       309           355       383      + 10.8%    1,137    346      279     233    279

 Net fees and commissions                                                               402                329    + 22.2%        95           186       121      + 10.5%     462     133      86      127    116

 Net trading, hedging and fair value income                                             1,046          1,231       - 15.0%      -47           484       609       n.m.      1,485    254      312     365    554

 Net other expenses/income                                                               12                 9     + 33.3%        -6           11         7       + 50.0%     11       2       -4       6      7

    Net non-interest income                                                             1,460          1,569       - 6.9%        42           681       737      - 89.3%    1,958    389      394     498    677

 OPERATING INCOME                                                                       2,507          2,360       + 6.2%       351          1,036      1,120    - 47.8%    3,095    735      673     731    956

 Payroll costs                                                                          -558               -532    + 4.9%       -102         -230       -226     - 38.2%    -757     -225    -165    -178    -189

 Other administrative expenses                                                          -544               -524    + 3.8%       -185         -180       -179     + 10.1%    -763     -239    -168    -186    -170

 Recovery of expenses                                                                    2                  0       n.m.         1             1         0        n.m.        0       0        0      -1      1

 Amortisation, depreciation and impairment losses on intangible and tangible assets      -10               -38     - 73.7%       -3            -3        -4      - 78.6%     -23      15      -14     -12    -12

    Operating costs                                                                    -1,110          -1,094      + 1.5%       -289         -412       -409     - 16.7%    -1,543   -449    -347    -377    -370

 OPERATING PROFIT                                                                       1,397          1,266      + 10.3%        62           624       711      - 81.0%    1,552    286      326     354    586

 Goodwill impairment                                                                     0                  0       n.m.         0             0         0        n.m.        0       0        0       0      0

 Provisions for risks and charges                                                        4                  -2      n.m.         2             5         -3       n.m.       -11      -9      -1       2      -3

 Integration costs                                                                       0                  0       n.m.         0             0         0        n.m.       -40      -40      0       0      0

 Net write-downs of loans and provisions for guarantees and commitments                  42                 3       n.m.         42            1         -1       n.m.       23       20      -7      25     -15

 Net income from investments                                                            237                 74    + 220.3%       17            3        217      - 15.0%     11       -63     20      25      29

 PROFIT BEFORE TAX                                                                      1,680          1,341      + 25.3%       123           633       924      - 63.6%    1,535    194      338     406    597



INCOME STATEMENT RATIOS - FTE

                                                                                               1/1-30/09             y/y         Q3           Q2         Q1        FY        Q4       Q3      Q2      Q1

                                                                                        2007               2006   CHANGE        2007         2007       2007      2006      2006     2006    2006    2006


 Cost income ratio                                                                     44.3%           46.4%       -208bp      82.3%        39.8%       36.5%     49.9%     61.1%    51.6%   51.6%   38.7%
 FTE                                                                                    3,449          3,218        231




EVA - ALLOCATED CAPITAL - RWA
                                                                                                      TOTAL
                                                                                               1/1-30/09           y/y %
                                                                                        2007               2006   CHANGE


 EVA                                                                                    685                579    + 18.4%
 Allocated Capital                                                                      3,772          3,505       + 7.6%
 Total RWA End of Period                                                               66,096          57,824     + 14.3%
 Total RWA Average                                                                     63,471          57,810      + 9.8%
 Credit RWA End of Period                                                              50,668          43,630     + 16.1%
 Credit RWA Average                                                                    49,043          43,327     + 13.2%


CUSTOMER LOANS AND DEPOSITS
                                                                                                                    TOTAL
                                                                                      September            June     Dec      % CHANGE      % CHANGE
                                                                                        2007               2007    2006      vs. June 07   vs. Dec 06


 TOTAL CUSTOMER LOANS                                                                  43,234          42,636      36,082      + 1.4%       + 19.8%


 TOTAL CUSTOMER DEPOSITS (incl. bonds)                                                 76,271          79,775      73,997      - 4.4%       + 3.1%




                                                                                                                                            14
                                                         POLAND'S MARKETS DIVISION - INCOME STATEMENT & QUARTERLY TREND
INCOME STATEMENT & QUARTERLY TREND

                                                                                                1/1-30/09            y/y %        y/y %           Q3         Q2      Q1     3Q07/3Q06   3Q07/3Q06 %       FY       Q4      Q3     Q2     Q1

                                                                                        2007                2006    CHANGE    at constant FX     2007       2007    2007       %        at constant FX   2006     2006    2006    2006   2006
 (mln Euro)

 Net interest                                                                            942                830     + 13.5%     + 11.2%           330        313     299     + 14.6%       + 9.8%        1,176     346     288    269    273

 Dividends and other income from equity investments                                      33                  23     + 43.5%     + 43.5%           11         13       9      + 57.1%      + 42.9%         30        7       7     10      6

        Net interest income                                                              975                853     + 14.3%     + 12.0%           341        326     308     + 15.6%      + 10.5%        1,206     353     295    279    279

 Net fees and commissions                                                                721                608     + 18.6%     + 16.1%           246        256     219     + 24.2%      + 19.2%         840      232     198    207    203

 Net trading, hedging and fair value income                                              84                  83     + 1.2%        - 1.2%          28         29      27      + 33.3%      + 28.6%         80       -3      21     34     28

 Net other expenses/income                                                               10                  9      + 11.1%     + 11.1%            3          4       3         -             -            6       -3       3      5      1

        Net non-interest income                                                          815                700     + 16.4%     + 14.0%           277        289     249     + 24.8%      + 19.8%         926      226     222    246    232

 OPERATING INCOME                                                                       1,790               1,553   + 15.3%     + 12.9%           618        615     557     + 19.5%      + 14.5%        2,132     579     517    525    511

 Payroll costs                                                                          -435                -397    + 9.6%       + 7.5%          -148       -150    -137     + 13.8%       + 9.8%        -535     -138    -130    -132   -135

 Other administrative expenses                                                          -280                -268    + 4.5%       + 2.6%           -99        -91     -90     + 16.5%      + 12.6%        -357      -89     -85    -92    -91

 Recovery of expenses                                                                     1                  1         -        - 100.0%           0          1       0      - 100.0%       n.m.           1        0       1      0      0

 Amortisation, depreciation and impairment losses on intangible and tangible assets     -103                -102    + 1.0%        - 1.0%          -35        -36     -32     + 2.9%           -          -140      -38     -34    -33    -35

        Operating costs                                                                 -817                -766    + 6.7%       + 4.8%          -282       -276    -259     + 13.7%       + 9.4%        -1,031   -265    -248    -257   -261

 OPERATING PROFIT                                                                        973                787     + 23.6%     + 20.8%           336        339     298     + 24.9%      + 19.1%        1,101     314     269    268    250

 Goodwill impairment                                                                      0                  0       n.m.         n.m.             0          0       0       n.m.          n.m.           0        0       0      0      0

 Provisions for risks and charges                                                        -2                  -2        -            -              -1        -1       0      - 66.7%       - 33.3%        -14      -12     -3      0      1

 Integration costs                                                                       -10                 0       n.m.         n.m.             -1        -6      -3       n.m.          n.m.           -9      -9       0      0      0

 Net write-downs of loans and provisions for guarantees and commitments                  -73                 -94    - 22.3%      - 22.1%          -19        -25     -29     - 38.7%       - 40.6%       -113      -19     -31    -29    -34

 Net income from investments                                                             59                  30     + 96.7%     + 100.0%           6          4      49      - 53.8%       - 50.0%        34        4      13      6     11

 PROFIT BEFORE TAX                                                                       947                721     + 31.3%     + 28.3%           321        311     315     + 29.4%      + 23.6%         999      278     248    245    228

 Income tax for the period                                                              -178                -144    + 23.6%     + 20.5%           -54        -63     -61     + 5.9%           -          -195      -51     -51    -47    -46

 NET PROFIT                                                                              769                577     + 33.3%     + 30.3%           267        248     254     + 35.5%      + 29.7%         804      227     197    198    182




INCOME STATEMENT RATIOS - FTE

                                                                                                1/1-30/09             y/y       CHANGE            Q3         Q2      Q1        FY            Q4           Q3       Q2      Q1

                                                                                        2007                2006    CHANGE    at constant FX     2007       2007    2007      2006          2006         2006     2006    2006


 Cost income ratio                                                                      45.6%           49.3%       -368bp       -354bp          45.6%      44.9%   46.5%     48.4%        45.8%         48.0%    49.0%   51.1%
 Cost of risk (1)                                                                       47bp                62bp     -15bp                                                    62bp
 Tax rate                                                                               18.8%           20.0%       -118bp       -121bp          16.8%      20.3%   19.4%     19.5%        18.3%         20.6%    19.2%   20.2%
 FTE                                                                                   25,615           25,646        -31
 (1)
       Change vs FY06 figure. Figures in 3Q06 column are related to FY06.


EVA - ALLOCATED CAPITAL - RWA
                                                                                                        TOTAL
                                                                                                1/1-30/09            y/y %
                                                                                        2007                2006    CHANGE


 EVA                                                                                     336                231     + 45.8%
 Allocated Capital                                                                      1,158               963     + 20.3%
 Total RWA End of Period                                                               23,703           19,601      + 20.9%
 Total RWA Average                                                                     22,062           18,356      + 20.2%
 Credit RWA End of Period                                                              22,215           19,084      + 16.4%
 Credit RWA Average                                                                    20,819           17,772      + 17.1%


CUSTOMER LOANS AND DEPOSITS
                                                                                                                     TOTAL
                                                                                      September             June     Dec      % CHANGE         % CHANGE
                                                                                        2007                2007     2006      vs. June 07     vs. Dec 06


 TOTAL CUSTOMER LOANS                                                                  18,399           17,952      18,154       + 2.5%         + 1.3%


 TOTAL CUSTOMER DEPOSITS (incl. securities in issue)                                   25,226           24,501      26,827       + 3.0%          - 6.0%




                                                                                                                                                             15
                                                                            CEE DIVISION - INCOME STATEMENT & QUARTERLY TREND
INCOME STATEMENT & QUARTERLY TREND

                                                                                                 1/1-30/09            y/y %         y/y %           Q3             Q2     Q1     3Q07/3Q06   3Q07/3Q06 %       FY       Q4      Q3     Q2     Q1

                                                                                         2007                2006    CHANGE     at constant FX     2007        2007      2007       %        at constant FX   2006     2006    2006    2006   2006
 (mln Euro)

 Net interest                                                                            1,500               1,223   + 22.6%      + 20.6%           530        504       466      + 25.9%      + 23.1%        1,740    517     421     390    412

 Dividends and other income from equity investments                                       17                  14     + 21.4%      + 21.4%            4             7      6       + 33.3%      + 33.3%         16       2       3       5      6

        Net interest income                                                              1,517               1,237   + 22.6%      + 20.6%           534        511       472      + 25.9%      + 23.1%        1,756    519     424     395    418

 Net fees and commissions                                                                 681                542     + 25.6%      + 23.1%           248        226       207      + 33.3%      + 26.1%         723     181     186     183    173

 Net trading, hedging and fair value income                                               125                196     - 36.2%       - 39.3%          31             42     52      - 44.6%       - 58.0%        244      48      56      90     50

 Net other expenses/income                                                                91                  52     + 75.0%      + 69.6%           31             44     16      + 10.7%          -           76       24      28      17     7

        Net non-interest income                                                           897                790     + 13.5%      + 11.3%           310        312       275      + 14.8%       + 4.0%        1,043    253     270     290    230

 OPERATING INCOME                                                                        2,414               2,027   + 19.1%      + 17.0%           844        823       747      + 21.6%      + 15.4%        2,799    772     694     685    648

 Payroll costs                                                                            -569               -482    + 18.0%      + 16.6%          -195        -191      -183     + 25.8%      + 25.9%        -685     -203    -155    -166   -161

 Other administrative expenses                                                            -516               -460    + 12.2%       + 9.2%          -180        -180      -156     + 16.1%       + 3.4%        -666     -206    -155    -156   -149

 Recovery of expenses                                                                      1                  1         -          - 50.0%           1             0      0        n.m.          n.m.           1       0       0       1      0

 Amortisation, depreciation and impairment losses on intangible and tangible assets       -119               -121     - 1.7%        - 4.0%          -40            -42    -37     + 2.6%         - 2.4%       -170      -49     -39    -39    -43

        Operating costs                                                                  -1,203          -1,062      + 13.3%      + 11.2%          -414        -413      -376     + 18.6%      + 12.4%        -1,520   -458    -349    -360   -353

 OPERATING PROFIT                                                                        1,211               965     + 25.5%      + 23.4%           430        410       371      + 24.6%      + 18.4%        1,279    314     345     325    295

 Goodwill impairment                                                                       0                  0        n.m.         n.m.             0             0      0        n.m.          n.m.           0       0       0       0      0

 Provisions for risks and charges                                                         -45                 -16    + 181.3%    + 177.8%           -16            -15    -14    + 220.0%     + 200.0%         -18      -2      -5      -2     -9

 Integration costs                                                                        -18                 -31    - 41.9%       - 46.9%          -11            -4     -3     + 120.0%      + 66.7%         -56      -25     -5     -26     0

 Net write-downs of loans and provisions for guarantees and commitments                   -149               -130    + 14.6%      + 11.8%           -80            -19    -50     + 53.8%      + 42.1%        -169      -39     -52    -33    -45

 Net income from investments                                                              25                  2        n.m.         n.m.            22             0      3        n.m.          n.m.          15       13      4       -2     0

 PROFIT BEFORE TAX                                                                       1,024               790     + 29.6%      + 27.6%           345        372       307      + 20.2%      + 15.1%        1,051    261     287     262    241

 Income tax for the period                                                                -189               -126    + 50.0%      + 50.0%           -61            -68    -60    + 190.5%     + 293.8%        -177      -51     -21    -55    -50

 NET PROFIT                                                                               835                664     + 25.8%      + 23.4%           284        304       247      + 6.8%        - 0.3%         874     210     266     207    191




INCOME STATEMENT RATIOS - FTE

                                                                                                 1/1-30/09             y/y       CHANGE             Q3             Q2     Q1        FY            Q4           Q3       Q2      Q1

                                                                                         2007                2006    CHANGE     at constant FX     2007        2007      2007      2006          2006         2006     2006    2006


 Cost income ratio                                                                       49.8%           52.4%        -256bp       -260bp          49.1%       50.2%     50.3%     54.3%        59.3%         50.3%    52.6%   54.5%
 Cost of risk (1)                                                                        46bp                45bp      1bp                                                         45bp
 Tax rate                                                                                18.5%           15.9%        251bp        276bp           17.7%       18.3%     19.5%     16.8%        19.5%         7.3%     21.0%   20.7%
 FTE                                                                                     37,770          37,448        322
 (1)
       Change vs FY06 figure. Figures in 3Q06 column are related to FY06.


EVA - ALLOCATED CAPITAL - RWA
                                                                                                         TOTAL
                                                                                                 1/1-30/09            y/y %
                                                                                         2007                2006    CHANGE


 EVA                                                                                      457                302     + 51.6%
 Allocated Capital                                                                       3,890               3,244   + 19.9%
 Total RWA End of Period                                                                 48,773          42,902      + 13.7%
 Total RWA Average                                                                       45,853          38,957      + 17.7%
 Credit RWA End of Period                                                                45,695          40,149      + 13.8%
 Credit RWA Average                                                                      43,410          36,358      + 19.4%


CUSTOMER LOANS AND DEPOSITS
                                                                                                                       TOTAL
                                                                                          Sept               June      Dec      % CHANGE         % CHANGE
                                                                                         2007                2007     2006      vs. June 07      vs. Dec 06


 TOTAL CUSTOMER LOANS                                                                    42,713          39,831       38,784       + 7.2%         + 10.1%


 TOTAL CUSTOMER DEPOSITS (incl. securities in issue)                                     41,610          40,197       38,986       + 3.5%         + 6.7%




                                                                                                                                                              16
                                                                 CEE DIVISION - TURKEY - INCOME STATEMENT & QUARTERLY TREND
INCOME STATEMENT & QUARTERLY TREND

                                                                                              1/1-30/09           y/y %              y/y %         Q3      Q2      Q1     3Q07/3Q06   3Q07/3Q06 %       FY       Q4      Q3     Q2     Q1

                                                                                      2007                2006   CHANGE          at constant FX   2007    2007    2007       %        at constant FX   2006     2006    2006    2006   2006
 (mln Euro)

 Net interest                                                                          372                327    + 13.7%           + 14.9%         132     126     114     + 29.3%      + 20.6%         443      116     102    111    114

 Dividends and other income from equity investments                                     2                  2      + 8.4%           + 11.8%         1       1       0       - 15.0%        - 2.5%         2        0       1      1      1

        Net interest income                                                            374                329    + 13.7%           + 14.8%         133     127     114     + 29.0%      + 20.4%         444      116     103    112    114

 Net fees and commissions                                                              183                155    + 17.8%           + 19.3%         70      61      52      + 43.3%      + 33.5%         208      53      49     51     55

 Net trading, hedging and fair value income                                            21                  12    + 72.2%           + 74.2%         8       6       7       + 49.8%      + 44.1%         29       17       5      2      4

 Net other expenses/income                                                             31                  23    + 35.1%           + 36.6%         6       15      11      - 41.7%       - 46.1%        34       11      10      7      6

        Net non-interest income                                                        234                190    + 23.3%           + 24.8%         84      81      70      + 30.7%      + 22.2%         271      81      64     60     66

 OPERATING INCOME                                                                      608                519    + 17.2%           + 18.5%         216     208     184     + 29.6%      + 21.1%         716      197     167    172    180

 Payroll costs                                                                         -169               -131   + 29.5%           + 31.2%         -57     -59     -53     + 44.8%      + 34.4%         -191     -60     -39    -43    -48

 Other administrative expenses                                                         -105               -118    - 10.8%            - 9.8%        -36     -39     -30     + 2.7%         - 5.1%        -167     -49     -35    -42    -41

 Recovery of expenses                                                                   0                  1      - 61.0%           - 60.6%        0       0       0       - 106.8%     - 100.0%         0        0       0      1      0

 Amortisation, depreciation and impairment losses on intangible and tangible assets    -28                -28     + 0.8%            + 2.5%         -9      -10     -9      + 22.2%      + 13.8%         -35      -7      -8     -10    -10

        Operating costs                                                                -303               -276    + 9.6%           + 11.0%        -103    -107     -92     + 24.6%      + 15.4%         -393    -116     -83    -94    -99

 OPERATING PROFIT                                                                      305                242    + 25.9%           + 27.1%         113     100     91      + 34.6%      + 26.8%         323      80      84     77     81

 Goodwill impairment                                                                    0                  0       n.m.              n.m.          0       0       0        n.m.          n.m.           0        0       0      0      0

 Provisions for risks and charges                                                      -44                -14    + 216.1%          + 219.3%        -20     -10     -13    + 361.2%      + 324.6%         -8       6      -4      -2     -7

 Integration costs                                                                      0                  -5    - 100.0%          - 100.0%        0       0       0       - 100.5%     - 100.5%         -9      -4      -5      0      0

 Net write-downs of loans and provisions for guarantees and commitments                -33                -39     - 14.0%           - 13.3%        -14     -9      -10     - 25.7%       - 29.3%        -55      -16     -19    -10    -10

 Net income from investments                                                           10                  0       n.m.              n.m.          6       3       0        n.m.          n.m.           -5      -5       1      -1     1

 PROFIT BEFORE TAX                                                                     238                186    + 28.4%           + 29.6%         86      84      68      + 50.5%      + 41.3%         247      61      57     64     65

 Income tax for the period                                                             -42                 -6      n.m.              n.m.          -15     -12     -15     - 171.2%     - 154.9%        -18      -12     21     -10    -17

 NET PROFIT                                                                            197                179     + 9.8%           + 10.5%         71      72      54       - 9.2%       - 19.4%        229      50      78     54     48




INCOME STATEMENT RATIOS - FTE

                                                                                              1/1-30/09            y/y             CHANGE          Q3      Q2      Q1        FY            Q4           Q3       Q2      Q1

                                                                                      2007                2006   CHANGE          at constant FX   2007    2007    2007      2006          2006         2006     2006    2006


 Cost income ratio                                                                    49.8%           53.3%       -346bp            -338bp        47.6%   50.2%   50.3%     55.2%        59.3%         49.6%    52.6%   54.5%
 Cost of risk (1)                                                                     57bp                85bp    -28bp                                                     85bp
 Tax rate                                                                             17.4%               3.5%     n.m.              n.m.         17.4%   18.3%   19.5%     16.5%        19.5%         -36.9%   21.0%   20.7%
 FTE                                                                                  16,041          15,792       249
 (1)
       Change vs FY06 figure. Figures in 3Q06 column are related to FY06.




                                                                                                                            17
                                                                  CEE DIVISION - RUSSIA - INCOME STATEMENT & QUARTERLY TREND
INCOME STATEMENT & QUARTERLY TREND


                                                                                              1/1-30/09            y/y %              y/y %         Q3      Q2      Q1     3Q07/3Q06   3Q07/3Q06 %       FY      Q4      Q3     Q2     Q1
                                                                                      2007                2006    CHANGE          at constant FX   2007    2007    2007       %        at constant FX   2006    2006    2006    2006   2006

 (mln Euro)

 Net interest                                                                          255                176     + 45.2%           + 48.3%         94      84      77      + 38.5%      + 42.0%         250     74      68     54     54

 Dividends and other income from equity investments                                    1                   0        n.m.              n.m.          0       1       0        n.m.          n.m.          0        0       0      0      0

        Net interest income                                                            256                176     + 45.6%           + 48.7%         94      85      77      + 38.5%      + 42.0%         250     74      68     54     54

 Net fees and commissions                                                              81                  35     + 130.8%          + 135.8%        28      27      25     + 110.1%      + 115.6%        46      11      13     12      9

 Net trading, hedging and fair value income                                            -9                  73     - 112.5%          - 112.7%        -15     1       6       - 194.6%     - 196.0%        94      21      16     32     25

 Net other expenses/income                                                             4                   2      + 117.5%          + 122.1%        2       1       2      + 301.8%      + 310.5%        2        0       0      1      0

        Net non-interest income                                                        76                 110      - 31.3%           - 29.8%        14      29      32      - 52.4%       - 50.8%        142     32      30     46     34

 OPERATING INCOME                                                                      331                286     + 16.0%           + 18.5%         108     114     109     + 10.5%      + 13.4%         392     107     98     100    88

 Payroll costs                                                                         -61                 -54    + 13.7%           + 16.1%         -21     -18     -21     + 23.4%      + 26.5%         -66     -12     -17    -21    -16

 Other administrative expenses                                                         -53                 -37    + 45.0%           + 48.1%         -18     -19     -16     + 40.3%      + 43.9%         -55     -18     -13     -9    -15

 Recovery of expenses                                                                  0                   0        n.m.              n.m.          0       0       0        n.m.          n.m.          0        0       0      0      0

 Amortisation, depreciation and impairment losses on intangible and tangible assets    -10                 -7     + 40.9%           + 43.9%         -4      -3      -3      + 34.0%      + 37.4%         -10     -3      -3      -1     -3

        Operating costs                                                               -125                 -98    + 27.5%           + 30.2%         -43     -41     -41     + 30.9%      + 34.3%        -131     -33     -33    -31    -34

 OPERATING PROFIT                                                                      207                188     + 10.0%           + 12.4%         65      73      69      + 0.1%        + 2.8%         261     74      65     70     54

 Goodwill impairment                                                                   0                   0        n.m.              n.m.          0       0       0        n.m.          n.m.          0        0       0      0      0

 Provisions for risks and charges                                                      -1                  0      + 115.5%          + 120.3%        0       -1      0      + 280.8%      + 280.8%        -1      -1       0      0      0

 Integration costs                                                                     0                   0        n.m.              n.m.          0       0       0        n.m.          n.m.          0        0       0      0      0

 Net write-downs of loans and provisions for guarantees and commitments                -32                 -23    + 38.4%           + 41.3%         -19     -6      -7      + 40.3%      + 43.5%         -43     -20     -13     -6     -4

 Net income from investments                                                           0                   0        n.m.              n.m.          0       0       0        n.m.          n.m.          0        0       0      0      0

 PROFIT BEFORE TAX                                                                     174                165      + 5.9%            + 8.2%         46      67      61      - 10.2%        - 7.6%        218     53      51     64     50

 Income tax for the period                                                             -39                 -38     + 1.5%            + 3.7%         -11     -15     -12     - 33.3%       - 31.3%        -43     -4      -17    -11    -11

 NET PROFIT                                                                            135                126      + 7.2%            + 9.5%         35      51      49      + 1.1%        + 3.9%         175     48      35     53     39




INCOME STATEMENT RATIOS - FTE


                                                                                              1/1-30/09             y/y             CHANGE          Q3      Q2      Q1        FY            Q4           Q3      Q2      Q1
                                                                                      2007                2006    CHANGE          at constant FX   2007    2007    2007      2006          2006         2006    2006    2006


 Cost income ratio                                                                    37.6%           34.2%        339bp             339bp         40.1%   35.6%   37.3%     33.3%        31.0%         33.8%   30.5%   38.8%
 Cost of risk (1)                                                                     67bp                88bp     -21bp                                                     88bp
 Tax rate                                                                             22.3%           23.3%        -96bp              -96bp        24.4%   23.1%   20.0%     19.7%         8.4%         32.8%   17.1%   21.5%
 FTE                                                                                  2,543               2,000     543
 (1)
       Change vs FY06 figure. Figures in 3Q06 column are related to FY06.




                                                                                                                             18
                                                                                      CAPITALIA INCOME STATEMENT
INCOME STATEMENT

                                                                                                   1/1-30/09                 y/y %      Q3      Q2      Q1     Q307/Q306    FY       Q4      Q3      Q2      Q1

                                                                                           2007                2006         CHANGE     2007    2007    2007       %        2006     2006    2006    2006    2006
 (mln Euro)

 Net interest                                                                              2,151               1,909        + 12.7%     742     713     696     + 15.6%    2,588     679     642     649    618

 Dividends and other income from equity investments                                         41                 103          - 60.2%      4      30      7       - 50.0%     168      65      8       53      42

    Net interest income                                                                    2,192               2,012         + 8.9%     746     743     703     + 14.8%    2,756     744     650     702    660

 Net fees and commissions                                                                  1,264               1,268         - 0.3%     398     429     437      - 2.0%    1,723     455     406     454    408

 Net trading, hedging and fair value income                                                 223                163          + 36.8%     39      139     45      - 48.0%     276      113     75      -55    143

 Net other expenses/income                                                                   -1                 13           n.m.       -5       2      2        n.m.       11       -2      8       4       1

    Net non-interest income                                                                1,486               1,444         + 2.9%     432     570     484     - 11.7%    2,010     566     489     403    552

 OPERATING INCOME                                                                          3,678               3,456         + 6.4%    1,178   1,313   1,187    + 3.4%     4,766    1,310   1,139   1,105   1,212

 Payroll costs                                                                             -1,460          -1,474            - 0.9%    -507    -456    -497     + 2.2%     -1,988   -514    -496    -488    -490

 Other administrative expenses                                                              -852               -815          + 4.5%    -288    -298    -266     + 8.3%     -1,089   -274    -266    -284    -265

 Recovery of expenses                                                                       233                222           + 5.0%     75      81      77      + 5.6%      302      80      71      75      76

 Amortisation, depreciation and impairment losses on intangible and tangible assets         -159               -147          + 8.2%     -56     -52     -51     + 12.0%    -199      -52     -50     -48     -49

    Operating costs                                                                        -2,238          -2,214            + 1.1%    -776    -725    -737     + 4.7%     -2,974   -760    -741    -745    -728

 OPERATING PROFIT                                                                          1,440               1,242        + 15.9%     402     588     450     + 1.0%     1,792     550     398     360    484

 Goodwill impairment                                                                         0                  0            n.m.        0       0      0        n.m.        0       0       0       0       0

 Provisions for risks and charges                                                           -90                -101         - 10.9%     -45     -31     -14    + 200.0%    -120      -19     -15     -65     -21

 Integration costs                                                                          -134                0            n.m.       -67     -67     0          -         0       0       0       0       0

 Net write-downs of loans and provisions for guarantees and commitments                     -316               -158         + 100.0%   -112    -149     -55    + 119.6%    -228      -70     -51     -62     -45

 Net income from investments                                                                145                292          - 50.3%     10      64      71      - 88.0%     378      86      83      217     -8

 PROFIT BEFORE TAX                                                                         1,045               1,275         - 18.0%    188     405     452     - 54.7%    1,822     547     415     450    410

 Income tax for the period                                                                  -430               -470          - 8.5%    -105    -150    -175     - 39.0%    -657     -187    -172    -160    -138

 NET PROFIT                                                                                 615                805           - 23.6%    83      255     277     - 65.8%    1,165     360     243     290    272

 Profit (Loss) from non-current assets held for sale, after tax                              0                  1           - 100.0%     0       0      0       - 100.0%     0       -1      -2      2       1

 PROFIT (LOSS) FOR THE PERIOD                                                               615                806           - 23.7%    83      255     277     - 65.6%    1,165     359     241     292    273

 Minorities                                                                                  -2                 -2             -        -1      -1      0          -         -3      -1      0       -1      -1

 NET PROFIT ATTRIBUTABLE TO THE GROUP                                                       613                804           - 23.8%    82      254     277     - 66.0%    1,162     358     241     291    272



INCOME STATEMENT RATIOS

                                                                                                   1/1-30/09                  y/y       Q3      Q2      Q1        FY        Q4       Q3      Q2      Q1

                                                                                           2007                2006         CHANGE     2007    2007    2007      2006      2006     2006    2006    2006


 Cost income ratio                                                                         60.8%           64.1%             -321bp    65.9%   55.2%   62.1%     62.4%     58.0%    65.1%   67.4%   60.1%
 Tax rate                                                                                  41.1%           36.9%             429bp     55.9%   37.0%   38.7%     36.1%     34.2%    41.4%   35.6%   33.7%
 FTE                                                                                       27,484          27,382             102




                                                                                                                       19
                                                  CAPITALIA ASSET QUALITY
CONSOLIDATED IMPAIRED LOANS TO CUSTOMERS (by type)


                                                                                                                                % ch. Vs       % ch. Vs
                                                                  30.09         30.06         31.03          31.12
                                                                  2007          2007          2007           2006               30.06.2007     31.12.2006




 NPLs - Face value                                                   10,137        10,372             n.a.      10,234              - 2.3%          - 0.9%

 Writedowns                                                           6,707         6,973             n.a.       6,901              - 3.8%          - 2.8%

 as a percentage of face value (Coverage Ratio)                      66.2%         67.2%              n.a.      67.4%               -107bp          -127bp

 NPLs - Carrying value                                                3,430         3,399             n.a.       3,333              + 0.9%            2.9%


 Doubtful Loans - Face value                                          1,283         1,292             n.a.       1,356               -0.7%           -5.4%

 Writedowns                                                               331           375           n.a.           385           - 11.7%         - 14.0%

 as a percentage of face value (Coverage Ratio)                      25.8%         29.0%              n.a.      28.4%               -323bp          -259bp

 Doubtful Loans - Carrying value                                          952           917           n.a.           971              3.8%           -2.0%


 Restructured Loans - Face value                                          394           377           n.a.           529              4.5%          -25.5%

 Writedowns                                                               23            27            n.a.           61             -14.8%          -62.3%

 as a percentage of face value (Coverage Ratio)                       5.8%          7.2%              n.a.      11.5%               -132bp          -569bp

 Restructured Loans - Carrying value                                      371           350           n.a.           468              6.0%          -20.7%


 Past-due Loans - Face value                                          1,077             982           n.a.           838            + 9.7%         + 28.5%

 Writedowns                                                               41            31            n.a.           27            + 32.3%         + 51.9%

 as a percentage of face value (Coverage Ratio)                       3.8%          3.2%              n.a.       3.2%                65bp            58bp

 Past-due Loans - Carrying value                                      1,036             951           n.a.           811            + 8.9%         + 27.7%


 Total Impaired Loans - Face value                                   12,891        13,023             n.a.      12,957               -1.0%           -0.5%

 Writedowns                                                           7,102         7,406             n.a.       7,374              - 4.1%          - 3.7%

 as a percentage of face value (Coverage Ratio)                      55.1%         56.9%              n.a.      56.9%               -178bp          -182bp

 Total Impaired Loans - Carrying value                                5,789         5,617             n.a.       5,583                3.1%            3.7%


AS A PERCENTAGE OF TOTAL LOANS TO CUSTOMERS


                                                                                                                                  30.09          30.09
                                                                  30.09         30.09         30.09          30.09

                                                                  2007          2007          2007           2007                 2007           2007




 NPLs - Face value                                                   8.97%         9.30%              n.a.      9.85%                -33bp           -88bp

 NPLs - Carrying value                                               3.25%         3.28%              n.a.      3.47%                 -3bp           -22bp


 Doubtful Loans - Face value                                         1.13%         1.16%              n.a.      1.31%                 -2bp           -17bp

 Doubtful Loans - Carrying value                                     0.90%         0.88%              n.a.      1.01%                    2bp         -11bp


 Restructured Loans - Face value                                     0.35%         0.34%              n.a.      0.51%                    1bp         -16bp

 Restructured Loans - Carrying value                                 0.35%         0.34%              n.a.      0.49%                    1bp         -14bp


 Past-due Loans - Face value                                         0.95%         0.88%              n.a.      0.81%                7.2 bp           15bp

 Past-due Loans - Carrying value                                     0.98%         0.92%              n.a.      0.84%                6.5 bp           14bp


 Total Impaired Loans - Face value                                  11.40%        11.67%              n.a.     12.47%                -27bp          -107bp

 Total Impaired Loans - Carrying value                               5.49%         5.42%              n.a.      5.81%                    7bp         -32bp




                                                                                                                           20

				
DOCUMENT INFO
Description: Investment Banking Trend document sample