Banca Finnat Euramerica : The Board of directors of Banca Finnat approves the consolidated half-yearly report at 30.06.2015 and the 2015-2017 group business plan

PRESS RELEASE

THE BOD OF BANCA FINNAT APPROVES THE CONSOLIDATED HALF-YEARLY REPORT AT 30 JUNE 2015 AND THE GROUP'S BUSINESS PLAN FOR 2015-2017 CONSOLIDATED NET PROFIT RISES TO € 4,136 MILLION COMPARED TO € 2,190 MILLION PERIOD-OVER-PERIOD (+89%) EARNINGS MARGIN IS UP BY 45% NET COMMISSIONS ALMOST DOUBLED FROM € 11,15 MILLION TO € 21,6 MILLION, UP BY ALMOST 94% TOTAL GROUP ASSETS UNDER MANAGEMENT STAND AT 13,2 BILLION, UP BY 29% SINCE 31.12.2014

Rome, 31 July 2015 - At a meeting held today, the Board of Directors of Banca Finnat Euramerica S.p.A. examined and approved the Group's Business Plan for 2015-2017 and the consolidated results posted by the Group for the six months ending on 30 June 2015. The financial report at 30 June 2015, which will be deposited, according to the law, at the company's headquarters, will be posted on www.bancafinnat.itin the Investor Relations / Regulated information section, as well as on the website of the authorised SDIR-NIS/NIS- Storage mechanism (www.emarketstorage.com). The report will also be available on the website of Borsa Italiana S.p.A ( www.borsaitaliana.it).

Consolidated financial highlights

The Earnings Margin is up by 45%, from € 21.28 million to € 30.94 million.

Net Commissions rose by 94%, from € 11.15 million to € 21.59 million.

Profit from the Disposal of available-for-sale (AFS) financial assets is also up, period-over-period, by almost 3.6 million euros (€ 5 million at 30 June 2015 compared to € 1.44 million at 30 June 2014).
On the contrary, both the Interest Margin and the own trading activities are down, the former by 29% (from € 7 million at 30.06.2014 to € 4.99 million at the end of the first half of 2015), as a result of the strong reduction imposed by the market on the rates of return on financial investments, while the latter features a negative balance of € 2.42 million, compared to a positive balance of € 126 thousand, period-over-period).

Operating costs have increased, period-over-period, by 38% (from € 16.41 million to € 22.58 million), as a result of the aggregation of Investire Immobiliare SGR, Beni Stabili Gestioni SGR and Polaris Real Estate SGR, although the higher than proportional increase of the earnings margin has enabled a reduction of the Cost income ratio from the previous 77.1% to the current 73%.

The Group Consolidated Net Profit is up by 89%, and now stands at € 4.14
million, compared to € 2.19 million period-over-period.
The Total Group Assets under Management (AUM) - comprising deposits, discretionary managed portfolios, management mandates from third parties, brokerage accounts, securities management, trust services and portfolios invested in real estate funds - stand at € 13,2 billion, up by 29% since 31.12.2014. The increase in the real estate funds (from € 4,131 billion at 31.12.2014 to € 6,774 billion at 30.06.2015) is the result of the contribution of assets by Beni Stabili Gestioni SGR and Polaris Real Estate SGR, following their merger with the Bank's subsidiary Investire SGR.

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At 30 June 2015, the number of treasury shares held totalled 26,160,966 (25,105,632 at
31 December 2014), accounting for 7.2% of the Bank's capital.
The Group's Business Plan for 2015-2017 will be following the below guidelines :
As far as the Lending to clients, we expect to increase the average rate of return and interest margin.
As far as the AUM, we expect to see a rise in revenue from the increased customer base and the development of the managed products and remunerated consultancy activities.
As far as the Services to SMEs, we expect to broaden our services portfolio, develop and consolidate our corporate consulting activities and develop our services to the AIM (Alternative Investment Market) in Italy, with a view to securing top market positioning.
As far as the Real estate business, we expect to develop our managed real estate portfolio, with an increase in turnover and profitability.
As far as our Equity investments, our aim is to secure new opportunities by

either extracting value from our existing investments or through new acquisitions.

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At the consolidated level, the goals of the plan are as follows:

We expect to see an increase in assets by private-banking customers, in excess of 400 million euros, with the inclusion of 16 new Private Bankers alongside our current team of 34 Private Bankers.
The real estate portfolio managed by Investire SGR is expected to grow and reach, at the end year of the plan, € 9.3 billion (assessed at GAV), from the present approx. value of 7 billion, also featuring an increase in the number of managed funds, from 35 to 43.
The Group assets under management are expected to grow, in the period in question, at an average annual rate of 9%, and reach almost € 17 billion from € 13 billion as of 30.06.2015 while indirect deposits are expected to rise from € 4.6 billion as of 30.06.2015 to € 5.5 billion at the end of 2017.

Revenues (earnings margin) at 2017 are expected to reach € 71.6 million, with a cost/income ratio of 70.8%, a Group Net Consolidated Profit of € 8.8 million and a ROE of 3.9%.

The Tier 1 ratio and Total Capital ratio are expected to remain high throughout the term of the Plan, both reaching 27% in 2017.

* * * * * The manager in charge of preparing corporate reports and accounting documents (Paolo Collettini) declares, pursuant to paragraph 2 of article 154 bis of the Consolidated Law on Finance, that the accounting information disclosed in this press release is consistent with the company's accounting records, books and entries. (PURSUANT TO ARTICLE 66 OF CONSOB RESOLUTION NO. 11971 OF 14 MAY 1999)

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For further information

BANCA FINNAT EURAMERICA S.p.A. (www.bancafinnat.it)

IRManager: GianFrancoTraverso Guicciardi - Tel. [phone] E-mail: [e-mail]

SEC - Ufficio Stampa - Marco Fraquelli - Tel. [phone] E-mail: [e-mail]

Attachments: Consolidated Profit and Loss Account, Balance Sheet and Consolidated
Statement of Performance at 30 June 2015

CONSOLIDATED BALANCE SHEET (in thousands of euros)

Assets	30/06/2015	31/12/2014
10.	Cash and cash equivalents	412	665
20.	Financial assets held for trading	31.565	106.246
40.	Available-for-sale financial assets	879.442	790.205
50.	Financial assets held to maturity	1.939	2.319
60.	Due from banks	80.310	76.020
70.	Due from customers	346.132	289.483
100.	Equity investments	10.372	10.822
120.	Tangible assets	5.392	5.207
130.	Intangible assets	42.208	4.190
of which:
- goodwill 37.729 300
140.	Attività fiscali	8.943	5.492
a) current tax assets	2.100	2.115
b) deferred tax assets	6.843	3.377
of which under Law 214/2011	2.117	2.221
160.	Other assets	23.788	14.486
Total assets	1.430.503	1.305.135
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CONSOLIDATED BALANCE SHEET (in thousands of euros)

Liabilities and Net Equity	30/06/2015	31/12/2014
10.	Due to banks	20.903	97.204
20.	Due to customers	1.108.346	937.095
30.	Outstanding securities	26.971	46.958
40.	Financial liabilities held for training	2.693	2.359
80.	Tax liabilities	4.242	4.303
a) current tax liabilities	591	452
b) deferred tax liabilities	3.651	3.851
100.	Other liabilities	18.262	18.702
110.	Staff severance fund	4.484	3.993
140.	Valuation reserves	29.263	28.699
170.	Reserves	117.253	97.972
190.	Share capital	72.576	72.576
200.	Treasury shares (-)	(12.908)	(12.410)
210.	Net equity of minority interests (+/-)	34.282	3.436
220.	Net Profit (Loss) for the period (+/-)	4.136	4.248
Total liabilities and net equity	1.430.503	1.305.135

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CONSOLIDATED PROFIT AND LOSS ACCOUNT (in thousands of euros)

Items	1st half - 2015	1st half - 2014
10.	Interes t income and s imilar income	6.101	9.418
20.	Interes t expens e and s imilar expens e	(1.106)	(2.411)
30.	Interes t margin	4.995	7.007
40.	Commis s ion income	22.625	12.146
50.	Commis s ion expens e	(1.034)	(993)
60.	Net commis s ions	21.591	11.153
70.	Dividends and s imilar income	1.766	1.558
80.	Net income from trading activities	(2.420)	126
100.	Profit (los s ) from the trans fer or repurchas e of: b) available-for-sale financial assets	5.005	1.440
120.	Earnings margin	30.937	21.284
130.	Net value adjus tments /write-backs for the impairment of:
a) receivables b) available-for-sale financial assets	(1.279) (209)	(834) -
140.	Net income from financial operations	29.449	20.450
180.	Adminis trative expens es
a) staff costs	(15.069)	(10.665)
b) other administrative expenses	(9.308)	(6.521)
200.	Net value adjus tments /write-backs on tangible as s ets	(232)	(215)
210.	Net value adjus tments /write-backs on intangible as s ets	(61)	(37)
220.	Other operating income and expens es	2.092	1.027
230.	Operating cos ts	(22.578)	(16.411)
240.	Profit (Los s ) from equity inves tments	91	165
280.	Profit (Los s ) from current operations before taxes	6.962	4.204
290.	Income tax on current operations	(1.409)	(1.708)
300.	Profit (Los s ) from current operations after taxes	5.553	2.496
320.	Profit (Los s ) for the period	5.553	2.496
330.	Profit (Los s ) for the period of minority interes ts	(1.417)	(306)
340.	Profit (Los s ) for the period of parent company	4.136	2.190

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CONSOLIDATED STATEMENT OF PERFORMANCE (in thousands of euros) Items 1st half - 2015 1st half - 2014 10. Profit (Loss) for the period 5.553 2.496 Other income items after tax, without reversal to income statement 40. Defined benefit plans 167 (143) Portion of the valuation reserves from equity investments 60.

recorded under the shareholders' equity (128) 97

Other income items after tax, with reversal to income statement 100. Available-for-sale financial assets (1.552) 5.435

130.	Total other income items after tax	(1.513)	5.389
140.	Total earnings (Items 10+130)	4.040	7.885
150.	Total consolidated earnings of minority interests	(660)	310
160.	Total consolidated earnings of parent company	4.700	7.575

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