Commitments for 2007-2009 and our achievements

WE SAID:

WHAT WE HAVE ACHIEVED IN THE THREE YEAR PERIOD:

Promotion cohesion and transparency in business relations

By making use of a variety of tools, we have built a common language to facilitate a thorough understanding of events and provide the means for understanding the changes that have taken place and the work tools that have become available: the Intranet – a single point to access all information – now integrated and available throughout the Bank averaging 216,000 hits per month in the three-year period; live, on-demand Web TV offerings providing clear, direct and timely information as well as training (more than 1,762,000 total hits in the 2007/2009 period); the House Organ with over 239,000 copies issued in the three year period.

Enhancement the professional competence of all employees and promoted their personal and professional development, considering their individual characteristics and the context in which they operate

We have ensured that our employees receive comprehensive training by offering a wide-ranging selection of courses through strong commitment in terms of organisation, planning, and innovation, and a process of continuous development of in-house expertise - which saw the involvement of over 266,000 employees who performed over 2,595,000 days of training in three years. We have created a platform for development based on three guiding principles - merit, equality and sustainability - and have defined actions and targeted policies for specific groups to build a management system that is close to the needs of professional growth.

Adoption of fair and transparent systems for assessing positions, performance andpotential. Introduced incentiveschemes to enhance individual and team worth.

We have progressively extended the assessment of human resources and reward systems to all Group employees implementing them through various listening initiatives, which involved both the key evaluators and the people being evaluated.

Adoption of policies and developed projects designed to foster a quality workenvironment for all employees.

We have signed 489 agreements arising from our on-going dialogue with the trade unions, some of which to ensure that all the Group’s personnel enjoy equal economic and regulatory treatment. We have identified concrete solutions on issues relating to home/work balance through projects and initiatives which provided greater flexibility and support for people who face long periods of absence from work. The Gemma Project consolidated our commitment to equal opportunity and, in particular, to making the best use of female talent.

Materiality of issues

The following chart illustrates the issues covered in the listening activities and those concerning the involvement of employees and trade unions over the last three years (24 focus groups with employees, two with trade unions and a questionnaire to 6,000 employees).

Materiality of issues for employees