Table of contents. Directors Report on the Group. Consolidated financial statements and exhibits. Notes to the consolidated financial statements

Transcript

1 Annual Report 2003

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3 Table of contents Table of contents Banca CR Firenze Group - Summary data 188 Reclassified consolidated profit and loss account 189 Reclassified consolidated balance sheet 190 Directors Report on the Group Composition of the Group 191 Comments on consolidated results 196 The Group s position 201 Participating interest 211 Outlook for the future 217 Consolidated financial statements and exhibits Consolidated balance sheet 219 Consolidated profit and loss account 221 Notes to the consolidated financial statements Part A - Valuation methods and accounting principles 222 Section 1 Description of valuation methods and accounting principles 222 Section 2 Fiscal adjustments and provisions 226 Part B - Information on the consolidated balance sheet 227 Section 1 Loans 227 Section 2 Securities 232 Section 3 Participating interests 236 Section 4 Property and equipment, and intangible assets 243 Section 5 Other assets 245 Section 6 Borrowings 247 Section 7 Provisions 249 Section 8 Share capital, reserves, reserve for general banking risks and subordinated debt 253 Section 9 Other liabilities 258 Section 10 Guarantees and commitments 259 Section 11 Concentration and distribution of assets and liabilities 262 Section 12 Asset management, custody and administration 266 Part C - Information on the consolidated profit and loss account 271 Section 1 Interest 271 Section 2 Commissions 273 Section 3 Gains and losses on financial transactions 275 Section 4 Administrative expenses 277 Section 5 Value adjustments, value re-adjustments and provisions 279 Section 6 Other consolidated profit and loss components 283 Section 7 Other information on the consolidated profit and loss account 285 Part D - Other information on the consolidated profit and loss account 286 Section 1 Directors and Statutory Auditors 286 Exhibits to the consolidated financial statements Consolidated statement of changes in capital, reserves, negative differences on consolidated and equity-valued holdings, reserve for general banking risks and net profit for the year 287 Consolidated statement of changes in financial position 288 Reconciliation between equity and net profits as appearing in the parent company and consolidated financial statements of Banca CR Firenze SpA 290 Report on the Independent Auditors 292 Listing of Branches

4 Exhibits to the consolidated financial statements Exhibits to the consolidated financial statements Consolidated statement of changes in capital, reserves, negative differences on consolidated and equityvalued holdings, reserve for general banking risks and net profit for the year Share Share Legal Reserve Statutory Revaluation Other Negative Reserve for Net profit Total capital premium reserve for own reserves reserves reserves differences on general for the year shares consolidated and banking equity-valued risks holdings Balance at 31 December , ,432 2,170 20,652 2,163 61, ,615 82, ,889 Allocation of 2002 net profit of the parent company 32,500-90,056-57,556 (*) Share capital increase resulting from the free allocation of 348 shares to each employee (under the stock-granting scheme), by using part ofthe statutory reserve, pursuant to article 5b of the Bank s Statutes, in execution of the Board of Directors resolution of 14 April Increase in the parent company s paid-up share capital resulting from giving effect to the stock option incentives plan covered by article 5a of the Company s Statutes, following the Board of Directors resolution taken on 16 October 2000, on the specific mandate conferred by the Shareholders Meeting Portion pertaining to the Group of 2002 profits transferred to reserves by fully-consolidated companies ,963 1,269 4,887 Adjustment of the parent company s reserve for own shares to bring it into line with the quantity of such shares at the year-end Transfer to the parent company's statutory reserve of the net proceeds from the sale of pawned assets covering dishonoured loans, pursuant to the law on loans under pawn Sale of parent company shares which were in portfolio at 31 December ,857 1,857 0 Other consolidation records , , Net profit for ,463 95,463 Balance at 31 December , , ,202 1,412 90, ,615 95,463 1,024,345 (*) Net profit of parent company allocated to: dividends 56,484 funds at the disposal of the Shareholders Meeting 1,072 57,

5 Exhibits to the consolidated financial statements Consolidated statement of changes in financial position Funds generated and borrowed 31 december december 2002 Funds generated from operations: Consolidated net profit for the year 95,463 82,584 Increase to share capital and the share premium account on the issue of shares under stock-option plans Transfers to provisions and reserves: 204, ,077 - Provision for staff termination pay 22,474 19,879 - Provisions for loan losses 21,168 19,178 - Provisions for pensions and similar obligations 16,337 18,171 - Tax provisions 127, ,729 - Other provisions 16,663 27,120 Value adjustments to: 90,183 89,114 - Participating interests 2,656 2,882 - Intangible assets 36,398 35,820 - Property and equipment 24,977 29,505 - Goodwill arising on consolidation 26,128 20,883 - Goodwill on equity-valued holdings Total funds generated from operations 390, ,775 Increase (decrease) in other liabilities: 224,064 (487,449) - Amounts owing to banks (60,568) (704,517) - Subordinated debt 295, ,000 - Other liabilities 3,274 (60,388) - Accrued liabilities and deferred income 4,406 7,427 - Minority interests (18,111) 20,723 - Negative differences on consolidated and equity-valued holdings 63 (694) Increase (decrease) in borrowed funds: 659,322 1,031,834 - Customer deposits and third-party funds under management 428, ,821 - Debt securities issued 231, ,013 Increase in share capital and reserves: Transfers to statutory reserves of statute-barred surpluses on sale of pawned assets Total funds generated, borrowed and raised 1,274, ,

6 Exhibits to the consolidated financial statements Use of funds 31 december december 2002 Use of funds generated from operations: 202, ,985 - Use of provision for staff termination pay 16,152 13,158 - Use of provisions for loan losses 20,996 28,520 - Use of provisions for pensions and similar liabilities 15,024 11,716 - Use of tax provision 125, ,472 - Use of other provisions 25,008 13,119 Increase (decrease) in other assets: 232,291 (31,103) - Participating interests 53,176 (8,043) - Property and equipment (18,369) 2,747 - Intangible assets 39,212 27,058 - Goodwill arising on consolidation 52,441 13,352 - Goodwill on equity-valued holdings (24) (636) - Other assets 93,616 (80,674) - Accrued income and prepayments 12,239 15,093 Increase (decrease) in funds lent: 781, ,621 - Cash on hand and with central banks (4,602) (19,621) - Owned securities and certificates of deposit (45,503) (201,556) - Amounts owing by banks (36,462) 233,624 - Customer loans 868, ,174 Changes in shareholders equity: 57,773 58,743 - Parent Company net profit for the year distributed to shareholders and provision for amounts at the disposal of the shareholders meeting 57,556 57,388 - Changes in interests held and other consolidation movements 217 1,355 Total use of funds 1,274, ,

7 Exhibits to the consolidated financial statements Reconciliation between equity and net profit as appearing in the parent company and consolidated financial statements of Banca CRF Firenze SpA 31 december december 2002 Shareholders Net profit Shareholders Net profit equity for year equity for year Share capital 620, ,155 Own shares in portfolio Share premium Reserves 222, ,182 Reserve for general banking risks 62,475 62,475 Provisions for loan losses 17,375 17,648 Net profit for the year 90,508 90,056 Total Banca CR Firenze S.p.A. 922,435 90, ,250 90,056 Consolidation reserve and share of other reserves of Group companies 6-1,907 Parent Company shares held by companies consolidated fully or on the proportional method ,960 Reserve for general banking risks pertaining to Group 3,140 3,140 Revaluation reserve pertaining to minority interests 1,412 2,163 Provisions for loan losses of fully-consolidated companies 13,592 13,394 Utilisation of provisions for loan losses to offset goodwill arising on consolidation -4,718-4,965 Negative differences arising on consolidation 8 8 Goodwill arising on consolidation and related amortisation -164,191-26, ,878-20,883 Net profits of companies consolidated fully or on the proportional method 78,641 61,888 Minority interests share in net profits -13,632-13,593 Elimination of intragroup dividends -33,028-28,703 Elimination of value adjustments to participating interests in Group companies 1,761 2,572 Total for companies consolidated fully or on the proportional method -150,854 7, ,005 1,281 Consolidation reserve 18,600 22,551 Negative differences on equity-valued holdings Goodwill on equity-valued holdings and related amortisation Net profits of equity-valued holdings 15,194 15,624 Minority interests share in net profit Elimination of intragroup dividends -9,346-5,753 Elimination of value re-adjustments on equity-valued holdings Elimination of value adjustments on equity-valued holdings Elimination on gains on sale of equity-valued holdings -6,872 0 Losses on sale of equity-valued holdings ,577 Total for equity-valued holdings 19,034-2,659 22,876-8,753 Total Banca CR Firenze Group 790,615 95, ,121 82,

8 Exhibits to the consolidated financial statements The consolidated equity of the Cassa di Risparmio di Firenze Group comprises: 31 december december 2002 Shareholders Net profit Shareholders Net profit equity for year equity for year Share capital 620, ,155 Share premium Legal reserve 127, ,432 Reserve for own shares 160 2,170 Statutory reserves 23,202 20,652 Revaluation reserves 1,412 2,163 Other reserves 90,270 61,572 Negative differences arising on consolidation 8 8 Negative differences on equity-valued holdings Reserve for general banking risks 65,615 65,615 Net profit for the year 95,463 82,584 Sub - total 928,882 95, ,305 82,584 Own shares ,170 Positive differences arising on consolidation -164, ,878 Positive differences on equity-valued holdings Provisions for loan losses 26,249 26,077 Total 790,615 95, ,121 82,

9 Report on the Independent Auditors CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2003 AUDITORS REPORT IN ACCORDANCE WITH ARTICLE 156 OF LAW DECREE N 58 DATED 24 FEBRUARY 1998 To the Shareholders of BANCA CR FIRENZE SPA 1 We have audited the consolidated financial statements of the Banca CR Firenze Group as of 31 December These consolidated financial statements are the responsibility of Banca CR Firenze SpA s directors. Our responsibility is to express an opinion on these financial statements based on our audit. 2 We conducted our audit in accordance with the auditing standards and criteria recommended by CONSOB. Those standards and criteria require that we plan and perform the audit to obtain the necessary assurance about whether the consolidated financial statements are free of material misstatement and, taken as a whole, are presented fairly. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the directors. We believe that our audit provides a reasonable basis for our opinion. Other auditors have the responsibility for the audit work carried out on the financial statements of certain subsidiary and associated companies, representing about 16.3 percent of consolidated assets and 27.2 percent of consolidated ordinary revenues. For the opinion on the consolidated financial statements of the prior year which are presented for comparative purposes as required by law, reference is made to our report dated 11 April

10 Report on the Independent Auditors 3 In our opinion, the consolidated financial statements of Banca CR Firenze Group as of 31 December 2003 comply with the laws governing the criteria for their preparation; accordingly, they give a true and fair view of the consolidated financial position and of the results of operations of the Group. Florence, 5 April 2004 PricewaterhouseCoopers SpA Lamberto Tommasi (Partner) This report has been translated from the original which was issued in accordance with Italian legislation. 293

11 Listing of Branches GENERAL MANAGEMENT - Via M. Bufalini, 6 - Firenze Florence Area - Via dei Pucci, 1 - Firenze South Tuscany Area - Piazzale Cosimini, 2 - Grosseto West Tuscany Area - Via Pievano Rolando, 6 - Empoli (FI) North Tuscany Area - Viale Montegrappa, 302/g - Prato East Tuscany Area - Via Roma, 36 - Montevarchi (AR) BRANCHES FLORENCE AREA Florence - Via M. Bufalini, 4 Private Banking - Via M. Bufalini, 6 Pawn Loans Office - Via Baracchini, ang. Via Baracca Florence I.U.E. Office - Via Badia dei Roccettini - San Domenico (Fiesole) Florence Commiliter Office - Via Cavour, 39 Florence C.I.A.A. Office - Piazza dei Giudici, 3 Florence C.T.O. Office - Largo Palagi, 1 Farming Branch - Piazza Signoria, 20/r Branch 1 - Viale Matteotti, 20 Branch 2 - Via de' Serragli, 126 Branch 3 - Via della Cernaia, 82 Branch 4 - Piazza Dalmazia, 37/r Branch 5 - Via Gioberti, 163/r Branch 6 - Via Nazionale, 93/95/r Branch 7 - Via degli Alfani, 79/r Branch 8 - Via il Prato, 109/r Branch 9 - Viale dei Mille, 26/r Branch 10 - Via F. De Sanctis, 48/50 Branch 11 - Via L. Bartolini, 20/r Branch 12 - Via dei Bardi, 50/52/r Branch 13 - Via Baldovini, 4/r Branch 14 - Via Tornabuoni, 23/r angolo Via del Parione 1/r Branch 15 - Piazza degli Ottaviani, 13/r Branch 16 - Via degli Speziali, 14/16/r Branch 17 - Via Martiri del Popolo, 35/39/r Branch 19 - Piazza Puccini, 2-2/a/r Branch 20 - Via del Gelsomino, 101/b Branch 21 - Via Casentino, 57 Branch 22 - Viale E. Duse, 24/a Branch 23 - Via A. del Pollaiolo, 152 Branch 24 - Via Aretina, 265/a Branch 25 - Viale Europa, 27/a/b Branch 26 - Via S. Caterina d'alessandria, 14 Branch 27 - Via Cecioni, 86 Branch 28 - Piazza Adua, 1/b Branch 29 - Piazza Artom, 7 Branch 30 - Viale Petrarca, 120/b/c/d Branch 31 - Via Locchi, 108 Branch 32 - Via Baracchini, angolo Via Baracca Branch 33 - Via Doni, angolo Via Maragliano 294

12 Listing of Branches Branch 34 - Via Masaccio, 41/43 Branch 35 - Viale Pieraccini, 17 Branch 36 - Via Perfetti Ricasoli Branch 37 - Via Cento Stelle, 24/b Branch 38 - Viale Europa, 181/183 Branch 39 - Via Montelatici, 5 Branch 40 - Piazza delle Cure, 17/18/r Branch 41 - Piazza Gualfredotto da Milano, 19/r Branch 42 - Via Starnina, 41 Branch 43 - Via Comparetti, 32/34 Antella - Via U. Peruzzi, 36 Badia a Settimo - Via del Botteghino, 162 Bagno a Ripoli - Via F.lli Orsi, 4/6 Barberino di Mugello - Viale Matteotti, 2/b Barberino di Mugello Centro - Via della Repubblica, 2 Barberino Val d'elsa - Via Cassia, 61 Borgo S. Lorenzo - Piazza M. della Libertà, 12 Caldine - Via Faentina, 264/268 Calenzano - Via G. Puccini, 167/169 Campi Bisenzio - Via Rucellai, 2/2/a Capalle - Via Val di Setta Capalle - Sportello Direzione del Quarto Tronco Capraia - Via G. La Pira, 27/29 Casellina - Via Baccio da Montelupo, 20 Castelfiorentino - Piazza Cavour, 19 Certaldo - Via 2 Giugno, 7 Contea - Strada Statale, 67 ang. Via Mozza Dicomano - Via Dante Alighieri Empoli - Via Pievano Rolando, 6 Empoli Branch 1 - Via G. del Papa, 43 Empoli Branch 2 - Via Ponzano, 58 Fiesole - Piazza Garibaldi, 24 Figline Valdarno - Piazza Marsilio Ficino, 33 Figline Valdarno - Sportello Boehringer Ingelheim - Loc Prulli Figline Valdarno Branch 1 - Via Copernico, 72/74/76 Firenzuola - Corso Villani, 54 Fucecchio - Piazza Montanelli, 27 Galliano - Via 1 Maggio, 68 Galluzzo - Piazza Acciaioli, 1/2/r Grassina - Piazza Umberto I, 12 Greve in Chianti - Piazza Matteotti, ang. Via Roma Impruneta - Viale della Libertà, 1 Incisa Valdarno - Via XX Settembre, 38 Lastra a Signa - Piazza Florence, 1 Le Bagnese - Via Silvestro Lega, 12 Londa - Via Roma, 35 Marcialla - Piazza Brandi, 15 Marradi - Via Talenti, 21 Matassino - Via F.lli Rosselli, 4 - ang. Via Urbinese Mercatale Val di Pesa - Via Mattoncetti, 16 Montaione - Piazza Cavour, 14 Montelupo Fiorentino -Piazza della Libertà, 1 Montespertoli - Piazza del Popolo,

13 Neto - Via G. di Vittorio, 14/18 Osmannoro - Via Volturno, 10/12 Palazzuolo sul Senio - Via Roma, 19 Pelago - Via della Rimembranza, 19 Peretola - Via I Settembre, 34/44 Pietramala - Via Pietramala, 632 Pontassieve - Piazza Cairoli, 2/a Ponte a Greve - Via Baccio da Montelupo, 64 Pratolino - Via Fiorentina Quinto Basso - Via Monteverdi, 45/47 Reggello - Via Dante Alighieri, 20 Rignano sull'arno - Via Unità Italiana, 34 Ronta - Via Faentina, 54 Rufina - Via Piave, 28/c San Bartolo a Cintoia - Viale Canova, 164 San Casciano Val di Pesa - Piazza delle Erbe, 1 San Donnino - Via Pistoiese, 375 San Francesco di Pelago - Via Bettini, 38 San Godenzo - Via Matteotti, 6 San Mauro a Signa - Piazza A. Ciampi, 8 San Piero a Sieve - Via Provinciale, 18/a Santa Brigida - Via Piana, 13/e Scandicci - Via Pantin, 1 Scandicci Branch 1 - Piazza Matteotti, 18 Scarperia - Viale Kennedy Sesto Colonnata - Viale 1 Maggio, 324/a Sesto Fiorentino - Via Dante Alighieri, 38 Sesto Fiorentino Branch 1 -Via Alcide De Gasperi, 11/13 Sieci - Via Aretina, 31/c Sovigliana - Via Silvio Pellico, 41 Signa - Via Roma, 324 Tavarnelle Val di Pesa -Via Roma, 85 Tavarnuzze - Via Montebuoni, 200 Vicchio di Mugello - Piazza Giotto, 10 BOLOGNA Bologna - Via Farini, 12 AREZZO E PROVINCIA Arezzo - Via Roma, 4 Arezzo Branch 1 - Via V. Veneto, 43 Arezzo Branch 2 - Via Don Luigi Sturzo, 14 Arezzo Branch 3 - Viale S. Margherita, 43/a Bibbiena - Strada Statale, 208, angolo Via G. di Vittorio Bucine - Via Roma, 37 Camucia - Viale Regina Elena, 3 Castelfranco di Sopra - Piazza V. Emanuele, 18/20 Castiglion Fiorentino - Corso Italia, 28/a Cortona - Piazza Signorelli, 7 296

14 Listing of Branches Foiano della Chiana - Corso V. Emanuele, 34 Levane - Piazza del Secco, 15/16 Loro Ciuffenna - Piazza Matteotti, 7 Lucignano - Via Provinciale Senese Mercatale di Cortona - Via dei Ponti, 2 Montemignaio - Via della Pieve, 22/r Monterchi - Via Pier della Francesca, 54/56 Monte San Savino - Via della Pace, 25 Montevarchi - Via Roma, 36 Pian di Scò - Via Marconi ang. Via Roma Pieve al Toppo - Via Dante Alighieri, 1/b Pieve Santo Stefano - Piazza Logge del Grano, 3 Ponte a Poppi - Via Roma, 204 Rassina - Piazza Mazzini, 57 Rigutino - Via Nazionale Ovest, 90/91 San Giovanni Valdarno - Corso Italia, 20 Sansepolcro - Via XX Settembre, 82/a/b Sestino - Via Roma, 5 Stia - Piazza Tanucci, 70 Strada Casentino - Via Roma, 29/t Subbiano - Viale Europa, 24 Talla - Piazza G. Monaco, 8 Terontola - Via XX Settembre, 27 Terranuova Bracciolini - Piazza della Repubblica, 15 GROSSETO E PROVINCIA Arcidosso - Corso Toscana, 60 Bagno di Gavorrano - Via G. Marconi, 88 Castell'Azzara - Piazza Martiri Niccioleta, 3 Castel del Piano - Viale Imberciadori, 1 Castiglion della Pescaia - Via Roma, 1 Follonica - Via Litoranea, 87 Giglio Porto - Via Cardinale Oneglia Grosseto - Piazza F.lli Rosselli, 7 Grosseto Branch 1 - Via Senese, 2/8 Grosseto Branch 2 - Via Giovanni XXIII, 31 Grosseto Branch 3 - Via Stati Uniti d'america Manciano - Via Marsala, 118 Porto Ercole - Via Fosso delle Buche, 77 Porto S. Stefano - Piazzale dei Rioni, 5 Roccastrada - Piazza Gramsci, 22 Sorano - Piazza Busatti, 3 LIVORNO E PROVINCIA Cecina - Via Diaz, 14/16 Livorno - Via dei Fulgidi, 12 Livorno Branch 1 - Via dell'artigianato, 35/b Livorno Branch 2 - Viale della Libertà, 57 Marina di Campo - Via Mascagni, 7 297

15 Porto Azzurro - Via Provinciale Est, 6 Portoferraio - Piazza Cavour, 60 Portoferraio Branch 1 - Via Carpani, 68 LUCCA E PROVINCIA Barga - Via Giovanni Pascoli, 36/38 Capannori - Piazza Aldo Moro Lido di Camaiore - Viale Colombo, angolo Via Veneto Marina di Pietrasanta - Via Versilia, 26 Marlia - Strada Statale 12, n.44 Pietrasanta - Piazza Carducci, 6 Seravezza - Via Roma, 31 Viareggio - Via San Francesco, 1 Viareggio Branch 2 - Piazza Dante, 6 Viareggio Branch 3 - Via Filzi, angolo Via Parri Viareggio Branch 4 - Via F.lli Cervi Viareggio - Sportello Ospedale della Versilia - Via Aurelia, 335 Viareggio - Sportello Mercato Ittico - Via Salvatori, 13 MASSA E PROVINCIA Aulla - Piazza Mazzini, 9/10 Avenza - Via XX Settembre, 248 Bagnone - Via della Repubblica, 54 Carrara - Via Roma, angolo Via Groppini Fivizzano - Via Roma, 208 Fosdinovo - Via Mazzini, 12 Gragnola - Via Nuova, 66 Massa - Via F. Crispi, 26 Pontremoli - Via Ricci Armani, 2 Villafranca Lunigiana - Piazza della Vittoria, 5 PERUGIA E PROVINCIA Bastia Umbra -Via Roma, 101/103 Città di Castello - Via S.S. Tiberina, 3 bis Deruta - Via Tiberina, 250 Ellera - Via di Vittorio, 106/108 Foligno - Via Nazario Sauro, 4a/4c Gualdo Tadino - Via Flaminia, angolo Via Tagliamento Gubbio - Via Campo di Marte, 39/41/43 Perugia - Via Settevalli Perugia Branch 1 - Piazza della Repubblica, 63 Ponte S. Giovanni - Via Quintina, 2 San Sisto - Viale S. Sisto, 333 Trestina - Via G. Parini, 20 Umbertide - Via della Repubblica 298

16 Listing of Branches PISA E PROVINCIA Bientina - Largo Roma, 13 Cascina - Viale Comaschi, 1 Castelfranco di Sotto - Piazza XX Settembre, angolo Via Gramsci Castelnuovo Val di Cecina - Via della Repubblica, 49/51 Pisa - Via San Martino, 82 Pisa Cisanello - Via Matteucci Pomarance - Piazza Sant'Anna, 2 Pontedera - Via Castelli, 36 Ponsacco - Via Carducci, angolo Via XXV Aprile Ponte a Egola - Via Curtatone e Montanara, 49/a Santa Croce sull'arno - Via Cavour, angolo Via Basili San Miniato Basso - Piazzale della Pace, 9 Volterra - Via Matteotti, 1 PISTOIA E PROVINCIA Montecatini Terme - Via IV Novembre, 69 San Marcello Pistoiese - Via Pietro Leopoldo, 33 PRATO E PROVINCIA Oste Montemurlo - Via di Oste, 130, angolo Via San Babila Poggio a Caiano - Via G. Masi, 39 ang. Via Maccanti Prato - Via Fabbroni, 1/7 Prato Branch 1 - Via Pistoiese, 115 Prato Branch 2 - Via Mozza sul Gorone Prato Branch 3 - Viale Montegrappa, 302/g/h Prato Macrolotto - Via dei Fossi, 14 Prato Vergaio - Via Tobbianese, angolo Via di Vergaio San Giorgio a Colonica - Via del Leone, 27/a Seano - Via Baccheretana, 158 Vaiano - Via Val di Bisenzio, 205/c ROMA E PROVINCIA Roma - Via Paisiello, 38 Roma Branch 1 - Piazza della Chiesa Nuova, 25 Roma Branch 2 - Via A. Baldovinetti, 102/104 Roma Branch 3 - Viale Ippocrate, 78/80 Roma Branch 4 - Via Tuscolana, 715/719/a Roma Branch 5 - Via Ostiense, 81/b/c/d SIENA E PROVINCIA Castellina in Chianti - Via Ferruccio, 45 Castellina Stazione - Via E. Berrettini, 42 Castelnuovo Berardenga - Via della Società Operaia, 1 299

17 Chianciano Terme - Viale della Libertà 503/505/507 Chiusi Stazione - Via Cassia Aurelia, 85 Colle Val d'elsa - Via Arnolfo di Cambio, 33/34 Gaiole in Chianti - Via Ricasoli, 76 Monteroni d'arbia - Via Roma, 134 Piancastagnaio - Via delle Acacie, 6/8 Pieve di Sinalunga - Viale Trieste, 39 Poggibonsi - Largo A. Gramsci, 15 Poggibonsi Branch 1 - Via Senese, 123/f Poggibonsi Branch 2 -Via Pisana, 110 Rapolano Terme - Via Prov.le Sud, 35 Siena - Piazza Tolomei, 11 Siena San Marco - Via Massetana, 2 San Gimignano - Piazza della Cisterna, 2 Torrita di Siena - Via Mazzini, 12 CENTRI IMPRESE Arezzo - Via Martiri di Civitella, 7/9 Bologna - Via Farini, 12 Capalle - Via Val di Setta Empoli - Via Pievano Rolando, 2 Florence Est - Via de Sanctis, 49 Florence Ovest - Via Pantin, 1 Livorno - Via dell'artigianato, 35/b Montevarchi - Via Roma, 38 Perugia - Via M. Angeloni Prato - Via dei Fossi, 14 Santa Croce sull'arno - Via Cavour, angolo Via Basili Siena - Via Massetana Romana, 2 Viareggio - Via San Francesco, 1 CENTRI PRIVATE Arezzo - Via Roma, 4 Empoli - Via Pievano Rolando, 2 Figline Valdarno - Piazza IV Novembre, 7/8 Florence Centro - Via Bufalini, 6 Florence Est - Via de Sanctis, 49 Florence Ovest - Via Pantin, 1 - Scandicci Prato - Viale Montegrappa, 302 Siena - Via Massetana Romana, 2 Viareggio - Via San Francesco, 1 SPAZI FINANZIARI Ancona - Via Martiri della Resistenza, 31 Bologna - Viale Pepoli, 84/A/B/C/D Bologna - Galleria Cavour, 2 Fabriano - Via Cavallotti,

18 Listing of Branches Ferrara - Via De Pisis, 49, angolo Via Palestro Forlì - Via Raggi, 42 Modena - Via Giardini, 363 Parma - Via d Azeglio, 64 Pesaro - Via San Francesco, 30 Porto S. Elpidio - Via IV Novembre, 1 Ravenna - Via della Lirica, 9 Rimini - Via Tripoli, 70 Roma - Corso Vittorio Emanuele II, 239 Roma EUR - Via A. Baldovinetti, Roma Parioli - Via Tagliamento, 10 Roma Prati - Via Clementi,