Interim report as at 31 March 2016 approved

Net profit for the period of € 40.1 million if we exclude the estimated 2016 contribution to the Single Resolution Fund which did not exist in the same period of 2015 (the book figure is € 31.0 million), showing a good performance despite particularly unfavourable market environment and interest rates

Core revenues down by 3.9% in the period more than offset by the sharp reduction in net adjustments to loans (-22.6% y/y), the lowest level for the last 4 years.

Net loans up by 0.8% from the end of 2015 (gross loans +0.9%) confirming the recovery of lending to customers already highlighted in the last quarter of the previous year; significant increase in new loan disbursements (+37.7%) compared with the same period of 2015 (which already showed a relevant increase on 2014)

Ratio of net non-performing exposures to total loans stable at 14.5% compared with the end of 2015 with a decrease of about 50 bps y/y; coverage ratio further strengthened to 44.6% (44.2% at end of 2015)

Strong capital solidity with a Fully Phased pro-forma CET1 ratio of 11.48% (Phased in 11.55%), without considering the effects of the validation of internal models and well over the 9.25% minimum required by the Supervisory Review and Evaluation Process (SREP)

The Fully Phased Basel 3 Leverage Ratio of 7.2% (Phased in 7.2%) among the best of the system with LCR and NSFR liquidity indices well over 100%