INVESTOR RELATIONS

THE ITALIAN CONSUMER CREDIT LEADER

Source: Assofin - As at Sept. 30, 2001 - Mortgages excluded

Findomestic 2.7

Fiatsava 2.5

Deutsche Bank 1.5

AgosItafinco (Intesa) 1.3

Fiditalia (SocGen) 1.2

Finemiro (Cardine) 1.1

Compass 0.9

BPLDucato 0.8

Citifin 0.8

Euro billion

At 30 September 2001 new business figures confirmed the Company as the most important player in the Italian market

2

INVESTOR RELATIONS

*As % of outstanding credits - Source : Assofin

EFFICIENCY

Outperforming growth and steady reduction of credit losses

29.3%30.0%28.8%

35.1%34.0%

22.6%20.5%

18.0%

33.2%

14.7%

1996 1997 1998 1999 2000

Italy, new business (yoy %)

Findomestic, new business (yoy %)

1998 1.22%

1999 1.15%

2000 1.00%

2001 < 1.00%

NPL ratio*

1997 1.39%

System average : 2 %

INVESTOR RELATIONS

3

24%

18%

26%

29%

3%

Vehicle financingHome appliances

Revolving cards

Personal loans Other

September 30, 2001 - New business volume : Euro 2.7 Billion

INVESTOR RELATIONS

BUSINESS SEGMENTATION

4

INVESTOR RELATIONS

THE CARDS BUSINESS

FINDOMESTIC BANCA

5

INVESTOR RELATIONS

PPINGSHO

FLEXIBILITY

ISSUERS

THE AURA CARD

OutletsOutlets 65,000 65,000 Cash advance via Internet-Phone-ATMCash advance via Internet-Phone-ATM

Retailers 400 400 Banks & Insurance co.Banks & Insurance co. 29 29

Revolving systemRevolving systemEuro 4,000 credit lineEuro 4,000 credit lineMonthly repayment :Monthly repayment : from 5% to 10% of from 5% to 10% of outstanding debit outstanding debit

6

INVESTOR RELATIONS

-

* FY 2001E, all brands managed cards (Aura: 2,000,000)

THE AURA CARD : multibranding

2,200,000* cardholders among proprietary, private label and bank cards

INVESTOR RELATIONS

7

33%

16%

26%

25%

14%

17%

24%

45%

0%

100%

Outstanding credits Financial margin

Revolving cards Personal loans Home appliances Vehicle financing

Aura : a growing business and a high contribution

INVESTOR RELATIONS

BUSINESS CONTRIBUTION to the FINANCIAL MARGIN

FY 2001E

8

INVESTOR RELATIONS

Comparison with more developed markets shows room for a further increase in consumer credit

FUTURE TREND

0.00%

10.00%

20.00%

0.00% 12.50% 25.00%

ITA ‘91

ITA ‘00

UK ‘91USA ‘91

USA ‘00Sa

vin

gs

ra

tio

Cons. credit / GDP

EU 8.8%

Source : Merrill Lynch

UK ‘00

9

INVESTOR RELATIONS

8%

21%

28%

34%

9%

EUROPE GOES REVOLVING

24%

18%26%

29%

3%

EUROFINAS - EuropeFINDOMESTIC

16%

10% 8%

57%

9%

ASSOFIN Italy

Revolving cards Personal loans Home appliances Vehicle financing

Findomestic is already there

INVESTOR RELATIONS

BACK-UP SLIDES

March 2002 - U.S.A.

11

INVESTOR RELATIONS

Euro millions

2000 2001E

*Exceptional costs excluded ** Operating income, trading income excluded

Variation

Banca CR Firenze Spa - FY 2001 preliminary results

NET INTEREST INCOME 309.6 357.7 15.5%

Fees & Commissions 263.0 256.5 -2.5%

Personnel costs* 231.9 230.1 -0.8%

Total operating costs* 378.2 379.4 FLAT

CORE OPERATING INCOME** 572.7 614.2 7.3%

INCOME before Expceptionals 126.5 142.2 12.4%

NET INCOME 79.9 84.9 6.3%

12

INVESTOR RELATIONS

Customer base segmentation

5,000

Private customers 800,000

75,000 500,000

82% 17.5% 0.5%

Mon

thly

inco

me

- E

uro

Assets - Euro

Retail

Affluent

Private Bkg.

Group - FY 2001E

SMALLBUSINESS

CORPORATE

Top1%

Big6%

Mid-size9%

Small 20%

Micro64%

> 25

> 2.5

> 1

> 0,25A

nn

ual

sal

es -

Eu

r o m

n

Companies100,000

13

INVESTOR RELATIONS

4%

42%

9%

45%

AFTER THE 11TH of September 2001 : loans by sensitivity

HIGH

MEDIUM

LOW

VERY LOW

Hotels, Energy, Transports (air & land)

Commerce, Textile, Communications, Transport (dometic)

Metallurgy

Rubber & Plastic goods

Agriculture, Food, Housing, Chemical, Paper Industry

Rating average

3.2

3.2

3.1

3.2

Business sector

High diversification of credits coupled with a high rating average

Level of risk

Non-financial and family companies

14

INVESTOR RELATIONS

Comparables

As at Feb.16, 2001 - Source : Prometeia Calcolo

Market Cap. > Eur 1,000 mn*

Area competitors

“Popolari” banks with a regional presence

A correct peers selection allows useful performance monitoring

B. Pop. COMM. & INDUSTRIA

B. Pop. EMILIA ROMAGNA

MONTE PASCHI SIENA

B. Pop. BERGAMO - CV

B. Pop. SONDRIO

B. Pop. NOVARA

B. Pop. VERONA

B. Pop. MILANO

B. LOMBARDA

B. Pop. LODI

B. CARIGE

15

INVESTOR RELATIONS

greater efficiency of each business linesynergies (product side, cost side…)stronger commitment in results by each Business

Unit

GROUP INTEGRATION - The Financial Department

Complete reorganization in order to achieve :

Head of Group Finance

TreasuryCustomer FinanceTrading & Investment

Proprietary portfolio

Trading portfolio

Customer sales

- Sales

- Derivatives desk

Money market

Asset /Liabilities Mng.

G r o u p N e t w o r k

A 22% reduction in personnel cost

16

INVESTOR RELATIONS

Net Interest income 348.0 381.4 9.6%

Non-interest income 283.0 270.0 -4.6%

Net commissions & other net income 238.7 238.7 FLAT

Financial Income 20.5 7.8 -62.0%

Dividends 9.2 16.0 73.9%

Equity investments 14.6 7.5 -48.6%

TOTAL INCOME 631.0 651.3 3.2%

3 Quarter 2001 - Consolidated results

Sept. 2000 PF Sept. 2001Euro million

‘01 -‘00 Var.

17

INVESTOR RELATIONS

Euro millions

3 Quarter 2001 - Consolidated results

Sept. 2000 PF Sept. 2001

Administrative expenses 404.5 404.8 FLAT

Amortization of fixed assets 43.6 46.5 6.7%

Operating income 183.1 200.0 9.2%

CORE OPERATING INCOME* 162.6 192.2 18.2%

Net adjus. & Provi sions 47.4 53.2 12.2%

Pre-tax profit 127.6 143.8 12.7%

NET INCOME 56.6 65.4 15.5%

* Operating income without trading income

‘01 -‘00 Var.

18

INVESTOR RELATIONS

Direct funding 10.7 10.9 1.9%

Indirect funding 13.9 14.0 0.7%

Assets under custody 6.9 6.5 -5.9%

Assets under management 7.0 7.5 7.1%

GP (discretional accs.) 2.6 2.3 -11.5%

Mutual funds 3.0 3.6 22.0%

Insurance products 1.4 1.6 15.1%

TOTAL FINANCIAL ASSETS 24.6 24.9 1.2%

Euro billions

3 Quarter 2001 - Consolidated results

Dec. 2000 3Q 2001 ‘01 -‘00 Var.