HALF-YEAR

CONSOLIDATED

FINANCIAL REPORT AS AT 30 JUNE 2021

BANCA CARIGE GROUP

HALF-YEAR CONSOLIDATED FINANCIAL REPORT

AS AT 30 JUNE 2021

TABLE OF CONTENTS

STRUCTURE OF THE BANCA CARIGE GROUP

3

PARENT COMPANY'S BOARD OF DIRECTORS, BOARD OF STATUTORY AUDITORS AND

4

INDEPENDENT AUDITORS AS AT 30 JUNE 2021

PARENT COMPANY'S BOARD OF DIRECTORS, BOARD OF STATUTORY AUDITORS AND

5

INDEPENDENT AUDITORS AS AT THE DATE OF APPROVAL

FINANCIAL HIGHLIGHTS FOR THE GROUP

6

INTERIM REPORT ON OPERATIONS

9

Real economy and money market

10

Covid-19: Regulatory measures and Carige Group initiatives

12

Strategy and business performance

19

Key events in the reporting period

22

Main risks and uncertainties and outlook on operations

28

Related party disclosures

31

Performance of subsidiaries in the reporting period

31

Distribution channels and HR management

32

HALF-YEAR CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

35

Consolidated Financial Statements

36

-

Consolidated Balance Sheet

37

-

Consolidated Income Statement

38

- Consolidated Statement of Comprehensive Income

39

- Statement of Changes in Consolidated Shareholders' Equity

40

- Consolidated Statement of Cash Flows

42

Explanatory notes

43

-

Accounting policies

43

- Scope and methods of consolidation

60

-

Subsequent events

62

- Profit & loss results

63

- Balance sheet items, funding and lending

68

-

Related-party transactions

79

- Treasury shares, statement of cash flows and shareholders' equity

80

-

Risk control

81

-

Segment reporting

94

ANNEXES

97

CERTIFICATION OF THE HALF-YEAR CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

100

PURSUANT TO ART. 81-TER OF CONSOB REGULATION 11971 OF 14 MAY 1999, AS AMENDED

INDEPENDENT AUDITORS' REPORT ON THE HALF-YEAR CONDENSED CONSOLIDATED

102

FINANCIAL STATEMENTS AS AT 30 JUNE 2021

NOTE

The following conventional signs are used in the tables:

- when data is nil

… when data is not significant

2

STRUCTURE OF THE BANCA CARIGE GROUP

3

PARENT COMPANY'S BOARD OF DIRECTORS, BOARD OF STATUTORY AUDITORS AND

INDEPENDENT AUDITORS AS AT 30 JUNE 2021

BOARD OF DIRECTORS

BOARD OF STATUTORY AUDITORS

CHAIR

CHAIR

Giuseppe Boccuzzi

Alberto Giussani

DEPUTY CHAIR

STANDING AUDITORS

Paolo Ravà

Anna Girello

Pierpaolo Singer

CHIEF EXECUTIVE OFFICER

Francesco Guido

DIRECTORS

Sabrina Bruno

Lucia Calvosa

Paola Demartini

Miro Fiordi

Gaudiana Giusti

Francesco Micheli

Leopoldo Scarpa

INDEPENDENT AUDITORS

Deloitte & Touche S.p.A

MANAGER CHARGED WITH PREPARING THE COMPANY'S FINANCIAL REPORTS

Mauro Mangani

The Ordinary Shareholders' Meeting of 31 January 2020 appointed the Board of Directors and the Board of Statutory Auditors for the financial years 2020, 2021 and 2022, with term of office until the date of the Shareholders' Meeting called to approve the financial statements for the year ending as at 31 December 2022.

At its meeting on the same day, the Board of Directors appointed Francesco Guido as Chief Executive Officer.

Angelo Barbarulo, appointed Deputy Chair of the Board of Directors at the aforementioned Shareholders' Meeting of 31 January 2020, resigned with immediate effect on 26 February 2020.

Following his resignation, on 14 October 2020 the Board of Directors co-opted, pursuant to Article 2386 of the Italian Civil Code, Director Paolo Ravà, who was concurrently appointed member of the Risk Committee.

The Chairman of Banca Carige S.p.A., Vincenzo Calandra Buonaura, passed away on 28 December 2020.

On 22 February 2021, the Ordinary Shareholders' Meeting appointed Giuseppe Boccuzzi and Paolo Ravà as members of the Board of Directors, to serve until the date of the Shareholders' Meeting called to approve the financial statements for the year ending 31 December 2022. The Shareholders' Meeting further appointed Giuseppe Boccuzzi and Paolo Ravà to serve respectively as Chair and Deputy Chair of the Board of Directors.

On 15 June 2021, Standing Auditor Anna Girello resigned from her position with effect as of the date of appointment of her replacement and on the same date, Silvia Muzi resigned from the position of Alternate Auditor with immediate effect. On 16 June 2021 Vincenzo Miceli resigned from the position of Alternate Auditor, with immediate effect.

The Board of Directors has also set up the following Board-internal Committees, the composition of which, as at today, is:

  • Risk Committee: Miro Fiordi (Chair), Paola Demartini, Paolo Ravà and Leopoldo Scarpa;
  • Nomination, Governance and Sustainability Committee: Lucia Calvosa (Chair) and Sabrina Bruno;
  • Remuneration Committee: Francesco Micheli (Chair), Sabrina Bruno and Miro Fiordi;
  • Related-PartyTransactions Committee: Gaudiana Giusti (Chair), Lucia Calvosa and Francesco Micheli.

4

PARENT COMPANY'S BOARD OF DIRECTORS, BOARD OF STATUTORY AUDITORS AND

INDEPENDENT AUDITORS

AS AT THE DATE OF APPROVAL

BOARD OF DIRECTORS

BOARD OF STATUTORY AUDITORS

CHAIR

CHAIR

Giuseppe Boccuzzi

Alberto Giussani

DEPUTY CHAIR

STANDING AUDITORS

Paolo Ravà

Biancamaria Raganelli

Pierpaolo Singer

CHIEF EXECUTIVE OFFICER

Francesco Guido

ALTERNATE AUDITORS

Maddalena Rabitti

DIRECTORS

Diego Agostino Rigon

Sabrina Bruno

Lucia Calvosa

Paola Demartini

Miro Fiordi

Gaudiana Giusti

Francesco Micheli

Leopoldo Scarpa

INDEPENDENT AUDITORS

Deloitte & Touche S.p.A

MANAGER CHARGED WITH PREPARING THE COMPANY'S FINANCIAL REPORTS

Mauro Mangani

The Ordinary Shareholders' Meeting of 31 January 2020 appointed the Board of Directors and the Board of Statutory Auditors for the financial years 2020, 2021 and 2022, with term of office until the date of the Shareholders' Meeting called to approve the financial statements for the year ending as at 31 December 2022.

At its meeting on the same day, the Board of Directors appointed Francesco Guido as Chief Executive Officer.

Angelo Barbarulo, appointed Deputy Chair of the Board of Directors at the aforementioned Shareholders' Meeting of 31January 2020, resigned with immediate effect on 26 June 2020.

Following his resignation, on 14 October 2020 the Board of Directors co-opted, pursuant to Article 2386 of the Italian Civil Code, Director Paolo Ravà, who was concurrently appointed member of the Risk Committee.

The Chairman of Banca Carige S.p.A., Vincenzo Calandra Buonaura, passed away on 28 December 2020.

On 22 February 2021, the Ordinary Shareholders' Meeting appointed Giuseppe Boccuzzi and Paolo Ravà as members of the Board of Directors, to serve until the date of the Shareholders' Meeting called to approve the financial statements for the year ending as at 31 December 2022. The Shareholders' Meeting further appointed Giuseppe Boccuzzi and Paolo Ravà to serve respectively as Chair and Deputy Chair of the Board of Directors.

On 15 June 2021, Standing Auditor Anna Girello resigned from her position with effect as of the date of appointment of her replacement and on the same date, Silvia Muzi resigned from the position of Alternate Auditor with immediate effect. On 16 June 2021 Vincenzo Miceli resigned from the position of Alternate Auditor, with immediate effect.

On 28 July 2021 the Ordinary Shareholders' Meeting appointed Biancamaria Raganelli as standing auditor and Maddalena Rabitti and Diego Agostino Rigon as alternate auditors, to serve until the date of the Shareholders' Meeting called to approve the financial statements for the year ending as at 31 December 2022.

The Board of Directors has also set up the following Board-internal Committees, the composition of which, as at today, is:

  • Risk Committee: Miro Fiordi (Chair), Paola Demartini, Paolo Ravà and Leopoldo Scarpa;
  • Nomination, Governance and Sustainability Committee: Lucia Calvosa (Chair), Giuseppe Boccuzzi and Sabrina Bruno.
  • Remuneration Committee: Francesco Micheli (Chair), Sabrina Bruno and Miro Fiordi;
  • Related-PartyTransactions Committee: Gaudiana Giusti (Chair), Lucia Calvosa and Francesco Micheli.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original document
  • Permalink

Disclaimer

Banca Carige S.p.A. Cassa di Risparmio di Genova e Imperia published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2021 10:51:00 UTC.