Consolidated Operations report 2012

PREAMBLE

The data and indices reported in this activity report refer, where applicable, to the balance sheet of the presentations of the financial statements, as well as to the reclassified income statement, in accordance with the appropriate paragraph, which has itself been prepared on the basis of Financial statement layout.

After the signing of the preliminary agreements on November 19, 2012 for the transfer by the parent company Banco di Desio e della Brianza SpA of the controlling share of Chiara Assicurazioni SpA, which should be finalized during the first half of the current year ( as illustrated in the paragraph “Major social events of the year” of this Activity report), in accordance with the provisions of IFRS 5, the book values ​​relating to the Company as of December 31, 2012 have been classified in the Balance sheet – the headings “Non-current assets held for sale and discontinued operations” and “Liabilities related to discontinued operations” as well as in the heading of the income statement “Gains/losses on groups of assets being sold”.

Considering that the asset sold, consisting of the activity of the Company subject to the sale, represents a major activity (the so-called “activities being sold”), it was necessary to restate, in accordance with what is provided for by IFRS 5 , the corresponding comparative figures of the income statement under the heading “Gains/losses on groups of assets being sold” also with reference to the period of comparison, i.e. as of December 31, 2011.

Moreover, following the letter from the Bank of Italy of January 16, 2013 – index no. 0051159/13, the “quick credit application fees” as of December 31, 2012 have been reclassified from the item “Fee income and commissions” to the item “Other operating expenses/(income),” this reclassification has also been made, for the same for purposes of homogeneous comparison, also with reference to December 31, 2011.

THE BANCO DESIO GROUP

As of December 31, 2012, this consolidated activity report relates to the following corporate structure of the Banco Desio group:

(1) Company excluded from the scope of the banking group

1 – HIGHLIGHTS AND FINANCIAL RATIOS

BALANCE DATA

Amounts in thousands of euros

Total assets

Financial assets Amounts due from banks Amounts due from customers Tangible fixed assets

Intangible assets Debts to banks Debts to customers

Securities issued and financial liabilities at fair value through profit or loss

Equity (including net income for the period) (1) Indirect deposits

INCOME STATEMENT DATA (2)

31.12.2011

SwitchAbs olute

%

8,359,795 503,198 6.0%

1,066,594 98,999 9.3%

288,525 -38,045 -13.2%

6,580,450 368,695 5.6%

154,481 -3,591 -2.3%

46,496 -20,593 -44.3%

267,998 173,679 64.8%

4,347,706 693,462 16.0%

2,696,584 -441,171 -16.4%

770,926 50,251 6.5%

10,821,717 -44,210 -0.4%

Amounts in thousands of euros

Operating result of which net interest income Operating costs

Operating margin

Profit/(loss) after tax from continuing operations Non-recurring profit after tax

Net income for the period (1)

31.12.2011

SwitchAbs olute

%

344,097 205,620

6,981 2.0%

-5,294 -2.6%

230,725

-7,074 -3.1%

113,372

14,055 12.4%

36,303

-21,401 -59.0%

4,702

-3,080 -65.5%

44,942

-24,741 -55.1%

FINANCIAL RATIOS

Equity / Total Assets

Equity / Amounts due from customers Equity / Amounts due from customers

Equity / Securities issued and Financial liabilities at fair value through profit or loss

Tier 1 capital / Weighted assets (Level 1 )

Global assets / Weighted assets (Total capital ratio) Financial assets / Total assets

Due from banks / Total assets Due from customers / Total assets

Payables to customers / Direct deposits from customers Payables to banks / Total assets

Payables to customers / Total assets

Securities issued and Financial liabilities at fair value through profit or loss / Total assets

Direct customer deposits / Total assets Operating expenses / Operating income (Expense/income ratio) Net interest income / Operating income

Operating margin / Operating result

Operating profit after tax / Equity Net profit for the period / Equity (ROE)

STRUCTURE AND PRODUCTIVITY DATA

31.12.2011

Absolute change s

9.2% 0.1%

11.7% 0.1%

17.7% -1.4%

28.6% 70.80%

10.7% 1.4%

11.8% 10.60%

12.8% 0.4%

3.5% -0.7%

78.7% -0.3%

93.4% 10.80%

3.2% 1.8%

52.0% 4.9%

32.3% -6.9%

84.3% -02.0%

67.1% -3.4%

59.8% -2.7%

32.9% 3.4%

5.0% -3.1%

6.2% -3.7%Number of employees Number of bank branches

Amounts in thousands of euros

Amounts owed by customers per employee (3) Direct customer deposits by employee (3) Operating income per employee (3)

(3) based on the number of employees determined as an arithmetic mean

31.12.2011

Switch

3,537 3,786 185

1,875,185

Abs olute

%

-37

-2.0%

0

0.0%

206

5.8%

144

3.8%

4

2.2%

5

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