VUB Group’s net loan portfolio up by 7%

Bratislava, July 31, 2012 – VUB Group, the member of international banking group Intesa Sanpaolo, earned in H1 2012 Operating profit of EUR 100.4 mln. Total assets reached EUR 11.3 bn increasing 3% y-o-y with Group’s net loan portfolio balance EUR 7.4 bn and growing 6.9% y-o-y.
VUB Group Gross operating income in H1 2012 amounted to EUR 229.5 mln. Operating profit before impairment ended at EUR 100.4 mln. Cost to income ratio reached 56.3% and was negatively impacted by the introduction of the bank levy (EUR 10.3 mln) and by the sale of AFS foreign securities (EUR 28.7 mln). VUB Group posted Profit before taxation of EUR 63.6 mln and Net profit of EUR 49.7 mln.
The Group’s balance sheet amounting to EUR 11.3 bn rose by 3% y-o-y. The volume of VUB Group net loan portfolio increased by 6.9% over the year amounting to almost EUR 7.4 bn due to increase of mortgage loan volume by 6.1% as well as lending to large corporate clients. Customer deposits grew by 2.8% y-o-y to reach the volume of EUR 7.8 bn.
„With a remarkable 14% VUB has one of the highest capital adequacy ratios in Slovakia, which allow us to continue supporting our customers both in households and corporate sectors.” said Ignacio Jaquotot, the CEO of VUB bank.

Selected financial indicators from the consolidated income statement:

* Operating profit before impairment

Selected indicators from the consolidated balance sheet:

The VUB Group comprises VUB bank and its 100% owned subsidiaries: Consumer Finance Holding, VUB Asset Management, VUB Factoring, VUB Leasing and Recovery. The consolidation perimeter also includes VUB Generali DSS (50% share).

About VUB
VUB is a member of Intesa Sanpaolo, an international banking group that operates in more than 40 countries worldwide with a network of banks, direct branches and representative offices. The Bank runs 208 retail branches, 32 corporate branches, 11 mortgage centres across Slovakia and 1 branch in the Czech Republic.

About Intesa Sanpaolo
Intesa Sanpaolo is among the top banking groups in the Euro zone and the leading player in Italy in the retail, corporate and wealth management business areas. Thanks to a well-spread network of 5,600 branches it offers a wide range of services to about 10.8 million customers in Italy. Intesa Sanpaolo’s international activities are focused in Central-Eastern Europe and in Middle East and North Africa, where it operates in 12 countries through retail and commercial banks with approximately 1,600 branches and 8.3 million customers. Moreover, an international network is present in 29 countries to support corporate customers.

Information for media:
Alena Walterová
Spokeperson and Head of the Press Dept.
Tel.: +421-2-5055 2130
E-mail: awalterova@vub.sk

Štefan Demovič
Head of Department Planning and Controlling
Tel.: +421-2-5055 2502
E-mail: sdemovic@vub.sk