Main economic and financial indicators1

Personnel efficiency indicators [millions of euro] 20142013
Loans to customers / Number of employees   3.79 3.81
Operating income / Number of employees   0.19 0.18
Customer financial assets 2/ Number of employees   9.24 8.90
       
Balance sheet indicators      
Shareholders' equity / Loans to customers   13.2% 12.9%
Shareholders' equity / Customer financial assets 2   5.4% 5.5%
       
Capital ratios 3      
Common Equity Tier 1 (CET1) capital net of regulatory adjustments / Risk-weighted assets (Common Equity Tier 1 ratio)   13.5% -
Tier 1 (TIER 1) capital / Risk-weighted assets   14.2% -
Total own funds / Risk-weighted assets   17.2% -
       
Profit indicators      
Parent Company net income / Average shareholders' equity   2.8% -9.9%
Operating costs / Operating income (Cost income ratio)   50.6% 51.1%
       
Risk indicators      
Net doubtful loans to customers / Loans to customers   4.2% 3.8%
Net substandard and restructured loans to customers / Loans to customers   5.3% 4.7%
Adjustments to doubtful loans to customers / Gross doubtful loans to customers   62.7% 62.5%

1. The indicators were calculated with reference to reclassified statements and figures published in the Intesa Sanpaolo Group's 2014 consolidated financial statements. The 2013 figures were restated where necessary to take into account changes in the scope of consolidation.

2. Customer financial assets: direct deposits from banking business, direct deposits from insurance business and technical reserves and indirect deposits, after netting, referred to components of indirect deposits which are also included in direct deposits.

3. The values as at 31 December 2014 were calculated using the method envisaged in the Basel 3 Capital Accord. For the values as at 31 December 2013, calculated using the method envisaged in the Basel 2 Capital Accord, reference should be made to the 2013 Consolidated Financial Statements of the Intesa Sanpaolo Group.

                                              

Statement of calculation and distribution of Economic Value

FINANCIAL STATEMENT CAPTIONS[MILLIONS OF EURO]
201420132012
10.   Interest and similar income 15,933 17,403 19,700
20.   Interest and similar expense -6,116 -7,518 -8,418
40.   Fee and commission income 8,058 7,435 6,641
50.   Fee and commission expense1 -1,023 -1,079 -1,050
70.   Dividends and similar income 315 250 507
80.   Profits (Losses) on trading 210 597 549
90.   Fair value adjustments in hedge accounting -139 -28 -8
100.   Profits (Losses) on disposal or repurchase of: 1,074 728 1,348
    a) loans 86 1 -3
    b) financial assets available for sale 1,271 739 270
    c) investments held to maturity 0 -2 -14
    d) financial liabilities -283 -10 1,095
110.   Profits (Losses) on financial assets and liabilities designated at fair value 971 492 1,294
130.   Net adjustments to/recoveries on impairment of: -4,314 -7,005 -4,521
    a) loans -4,102 -6,597 -4,308
    b) financial assets available for sale -187 -296 -161
    c) investments held to maturity 1 0 1
    d) other financial activities -26 -112 -53
150.   Net insurance premiums 16,600 11,921 5,660
160.   Other net insurance income (expense) -18,805 -13,750 -8,145
220.   Other operating expenses (income) 720 643 486
240. (partial)   Profits (Losses) on investments in associates and companies subject to joint
control (realised gains/losses)2
326 2,579 0
270.   Profits (Losses) on disposal of investments 114 15 30
310.   Income (Loss) after tax from discontinued operations -48 0 0
A   TOTAL ECONOMIC VALUE GENERATED 13,876 12,683 14,073

1. The figures differ from those of the income statement in the Financial Statements as remuneration to the financial advisors networks was reclassified to “Personnel expenses”.

2. The figures differ from those of the income statement in the Financial Statements due to the exclusion of unrealised gains/losses, now recognised in a separate caption.

FINANCIAL STATEMENT CAPTIONS[MILLIONS OF EURO]
2014 20132012
180.b (partial)   Other administrative expenses (net of indirect taxes and donations)3 -2,619 -2,647 -2,799
    ECONOMIC VALUE DISTRIBUTED TO SUPPLIERS -2,619 -2,647 -2,799
180.a   Personnel expenses4 -5,836 -5,503 -6,031
    ECONOMIC VALUE DISTRIBUTED TO EMPLOYEES -5,836 -5,503 -6,031
330.   Minority interests -59 7 -49
    ECONOMIC VALUE DISTRIBUTED TO THIRD PARTIES -59 7 -49
340. (partial)   Parent Company net income (loss) - Share allocated to Shareholders5 -1,185 -822 -832
    ECONOMIC VALUE DISTRIBUTED TO SHAREHOLDERS -1,185 -822 -832
180.b (partial)   Other administrative expenses: indirect taxes -952 -879 -714
290. (partial)   Income taxes for the year (current taxes)6 -1,509 -1,693 -1,303
    ECONOMIC VALUE DISTRIBUTED TO THE GOVERNMENT, ORGANISATIONS AND INSTITUTIONS -2,461 -2,572 -2,017
180.b (partial)   Other administrative expenses: donations and gifts -3 -2 -2
340. (partial)   Parent Company net income (loss) - Share allocated to charity funds7 -10 0 -1
    ECONOMIC VALUE DISTRIBUTED TO COMMUNITY AND ENVIRONMENT -13 -2 -3
B   TOTAL ECONOMIC VALUE DISTRIBUTED 12,173 -11,539 -11,731
C   TOTAL ECONOMIC VALUE RETAINED (WITHDRAWN) BY THE CORPORATE SYSTEM8 1,703 1,144 2,342

3. The figures differ from those of the income statement in the Annual Report due to the exclusion of indirect taxes and donations and gifts, now recognised in a separate caption.

4. The figures differ from those of the income statement in the Annual Report as they also include remuneration paid to the financial agents networks. For 2014 the amount includes 105 million euro relating to charges for exit incentives (77 million euro in 2013, 144 milion euro in 2012).

5. For 2013 the economic value distributed to shareholders was drawn from reserves.

6. The figures differ from those of the income statement in the Annual Report due to the exclusion of deferred tax assets and liabilities, now recognised in a separate caption.

7. The figures include amounts allocated to the charity funds operated by Group banks.

8. Net adjustments to/recoveries and provisions, deferred tax assets and liabilities and consolidated income net of dividends of the Parent Company.