Banco di Desio e della Brianza S p A : Consolidated Interim Financial Report at 30 June 2022

Consolidated interim financial report at 30 June 2022

Banco di Desio e della Brianza S.p.A. | Sede legale via Rovagnati,1 - 20832 Desio (MB) | Codice Fiscale n. 01181770155 | Iscritta alla Camera di Commercio Metropolitana di Milano, Monza e Brianza e Lodi | Capitale Sociale Euro 70.692.590,28 i.v.

• Aderente al Fondo Interbancario di Tutela dei Depositi | e al Fondo Nazionale di Garanzia | Iscritta all'Albo delle Banche al Cod. ABI n. 3440/5 | Capogruppo del Gruppo Bancario Banco di Desio e della Brianza | Iscritto all'Albo dei Gruppi Bancari al n. 3440/5

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Contents
Directors and Officers .......................................................................................................	3
Introduction........................................................................................................................	5
INTERIM REPORT ON OPERATIONS.....................................................................................	6
Key figures and ratios........................................................................................................	7
The macroeconomic scenario.........................................................................................	9
The distribution network ..................................................................................................	13
Significant events.............................................................................................................	14
Human resources.............................................................................................................	16
Results of operations .......................................................................................................	17
Performance of consolidated companies ...................................................................	35
Other information ............................................................................................................	40
Outlook for the rest of the year and principal risks and uncertainties .......................	42
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS..................................	43
Financial statements .......................................................................................................	44
Explanatory notes............................................................................................................	52
Basis of preparation and accounting policies .............................................................	53
Information on fair value ................................................................................................	79
Main balance sheet and income statement captions...............................................	88
Information on risks and related hedging policy .......................................................	136
Information on transactions with related parties .......................................................	167
Information on Equity-Based Payments ......................................................................	170
Segment reporting ........................................................................................................	172
CERTIFICATION PURSUANT TO ART. 81-TER OF CONSOB REGULATION NO. 11971 ....	174
AUDITORS' REPORT..........................................................................................................	176
ATTACHMENT ..................................................................................................................	179

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Directors and Officers

Banco di Desio e della Brianza S.p.A.

Board of Directors

Chairman	Stefano Lado
Chief Executive Officer and General Manager	Alessandro Maria Decio*
Directors	Graziella Bologna*
	Valentina Maria Carla Casella
	Ulrico Dragoni
	Cristina Finocchi Mahne
	Agostino Gavazzi*
	Gerolamo Gavazzi*
	Tito Gavazzi
	Giulia Pusterla
	Laura Tulli
* Members of the Executive Committee

Board of Statutory Auditors

Chairman	Emiliano Barcaroli
Acting Auditors	Rodolfo Anghileri
	Stefania Chiaruttini
Substitute Auditors	Stefano Antonini
	Silvia RE
	Massimo Celli

General Management

Chief Executive Officer and General Manager Alessandro Maria Decio*

Financial Reporting Manager

Financial Reporting Manager as per art. 154-bis CFA Mauro Walter Colombo

Independent Auditors

Independent Auditors	KPMG S.p.A.

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Banco Desio Group

The scope of consolidation of the Banco Desio Group at 30 June 2022 includes the following companies:

HEADQUARTERS OF THE

PARENT COMPANY

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Introduction

This consolidated interim financial report at 30 June 2022 of the Banco Desio Group, made up of the interim report on operations and the condensed interim financial statements, has been prepared pursuant to art. 154-ter of Legislative Decree 58/1998 ("Consolidated Finance Act" or CFA), implementing Legislative Decree 195 of 6 November 2007 (the so-called "Transparency Directive"), as well as for the determination of the profit for the period in order to calculate own funds and drawn up in accordance with International Financial Reporting Standards as endorsed by the European Community under Regulation 1606 of 19 July 2002, as better indicated in the section "Basis of preparation and accounting policies"

In particular, the consolidated interim financial report has been prepared in accordance with IAS 34 "Interim Financial Statements", as well as the instructions issued by the Bank of Italy in its Circular 262 of 22 December 2005 and subsequent updates.

The figures and ratios included in the interim report on operations refer to the balance sheet of the condensed interim financial statements and to the reclassified income statement, as disclosed in the appropriate paragraph, in turn prepared starting from the income statement of the condensed interim financial statements.

In defining the contents of the notes, we also took into account the recommendations contained in Consob's Warning Notice no. 1/21 of 16 February 2021, which is still applicable, and the Consob's Warning Notice no. 3/22 of 19 May 2022 for which readers should make reference to the "Accounting policies" section and the "Information on risks and related hedging policies" section of the Condensed interim financial statements".

Specific information on the context in which this financial information was prepared, characterised by the conflict between Russia and Ukraine and the persistence of the Covid-19 pandemic, as well as the uncertainties and significant risks that derive from these situations, is provided in the paragraph entitled "Implications of the Russian-Ukrainian conflict and the Covid-19 epidemic" (page 56); the consequences on the economy in general and on the economic-financial performance in future years, also deriving from regulators' support policies, remain uncertain in relation to the ways that future scenarios may evolve, which are beyond management's control.

This consolidated interim report is subject to a limited audit by KPMG S.p.A.

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