Statement of calculation and distribution of Value Added

FINANCIAL STATEMENT CAPTIONS 2009 2008 2007
10. Interest and similar income 19,607 28,041 24,527
20. Interest and similar expense -8,370 -15,587 -14,250
40. Fee and commission income 6,141 6,738 7,327
50. Fee and commission expense (1) -836 -873 -914
70. Dividend and similar income 479 704 781
80. Profits (Losses) on trading 855 -1,329 -166
90. Fair value adjustments in hedge accounting -41 -143 27
100. Profits (Losses) on disposal or repurchase of: 316 46 266
  a) loans -16 -50 -156
  b) financial assets available for sale 320 80 420
  c) investments held to maturity 0 0 0
  d) financial liabilities 12 16 2
110. Profits (Losses) on financial assets and liabilities designated at fair value 81 6 320
130. Net losses / recoveries on impairment of: -3,711 -3,270 -1,143
  a) loans -3,448 -2,433 -1,045
  b) financial assets available for sale -256 -963 -62
  c) investments held to maturity 0 0 0
  d) other financial activities -7 126 -36
150. Net insurance premiums 6,579 1,773 1,717
160. Other net insurance income (expense) -7,251 -1,575 -2,134
220. Other operating expenses (income) 519 182 163
240. (partial) Profits (Losses) on investments in associates and companies subject
to joint control (realised gains/losses) (2)
365 388 33
270. Profits (Losses) on disposal of investments 5 203 41
310. Income (Loss) after tax from discontinued operations 169 1,036 3,987
A TOTAL ECONOMIC VALUE ADDED 14,907 16,340 20,582
         
180.b (partial) Other administrative expenses (net of indirect taxes and donations) (3) -3,172 -3,511 -3,217
  ECONOMIC VALUE DISTRIBUTED TO SUPPLIERS -3,172 -3,511 -3,217
180.a Personnel expenses (4) -6,138 -6,763 -6,510
  ECONOMIC VALUE DISTRIBUTED TO EMPLOYEES -6,138 -6,763 -6,510
330. Minority interests -133 -129 -106
340. (partial) Parent Company's net income (loss) - Minority interests -1,033 -24 -4,867
  ECONOMIC VALUE DISTRIBUTED TO SHAREHOLDERS -1,166 -153 -4,973
180.b (partial) Other administrative expenses: indirect taxes and duties -648 -148 -118
290. (partial) Taxes on income from continuing operations (5) -2,344 -2,921 -2,153
  ECONOMIC VALUE DISTRIBUTED TO GOVERNMENT. ORGANISATIONS AND INSTITUTIONS -2,992 -3,069 -2,271
180.b (partial) Other administrative expenses: donations -7 -7 -5
340. (partial) Parent Company's net income (loss) - Allocation to the allowances for charitable contributions (6) -20 -8 -27
  ECONOMIC VALUE DISTRIBUTED TO COMMUNITY AND ENVIRONMENT -27 -15 -32
B TOTAL ECONOMIC VALUE DISTRIBUTED -13,495 -13,511 -17,003
C TOTAL ECONOMIC VALUE RETAINED  (7) 1,412 2,829 3,579

(*)  Net adjustments to/recoveries and provisions, deferred tax assets and liabilities and consolidated income net of dividends of the Parent Company.

(1) The figures differ from those recorded in the annual report as remuneration to the Fideuram network of financial advisors was reclassified to “Personnel expenses”.

(2) The figures differ from those of the income statement in the annual report due to the exclusion of realised gains/losses, now recognised in a separate caption.

(3) The figures differ from those of the income statement in the annual report due to the exclusion of indirect taxes and donations and gifts, now recognised in a separate caption.

(4) The figures differ from those of the income statement in the annual report as they include also remuneration paid to the financial advisors networks.

(5) The figures differ from those of the income statement in the annual report due to the exclusion of deferred tax assets and liabilities, now recognised in a separate caption.

(6) The figures include amounts allocated to the charity funds operated by Group banks.

(7) Net  adjustments to/ recoveries and provisions, deferred tax assets and liabilities and consolidated income net of dividends of the Parent Company.