THE CONSUMER CREDIT BUSINESS A shareholding of the Banca CR Firenze Group.

THE CONSUMER THE CONSUMER CREDIT BUSINESSCREDIT BUSINESS

A shareholding of the Banca CR Firenze Group

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Investor Relations

Market share:

by transaction 29%

by volume 13%

2001 ROE : 23.3%

3,600,000 customer database

94 Customer Service Centers

Over 65,000 affiliated stores

1,599 employees

S & P rating* : LT “A” - ST “A1”

Trentino Alto Adige

Friuli V. Giulia

Veneto

Emilia Romagna

Marche

UmbriaAbruzzo

Molise

Puglia

BasilicataCalabria

Sicilia

SardegnaCampania

Lazio

Toscana

Liguria

Piemonte

Valle d’Aosta

Lombardia

* Recent upgrade, September 2002

FINDOMESTIC BANCA - HighlightsFINDOMESTIC BANCA - Highlights

National distribution & high market penetration

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Italy, new business (yoy %)

Findomestic, new business (yoy %)

Findomestic 3.66

Fiatsava 3.13

Deutsche Bank 2.01

AgosItafinco (Intesa) 1.74

Finemiro (Cardine) 1.70

Fiditalia (SocGen) 1.56

Compass 1.23

2001 New business

BPLDucato 1.22

Citifin 1.09

Finconsumo 1.01

IntesaBci (Comit network) 1.67

Euro billion

LEADERSHIPLEADERSHIP

Findomestic is the most important player in the Italian market

16%

29.3%30.0%28.8%

35.1%34.0%

15%

22.6%20.5%

18.0%

33.2%

14.7%

1996 1997 1998 1999 2000 2001

Association of the Italian consumer credit companies and company data

4

Investor Relations * Association of the Italian consumer credit companies

Business segmentation

Personal loans

Home appliances

Vehicle financing

Revolving cards

Findomestic Italy *

Far ahead of competitors in the experience curve

BUSINESS MODELBUSINESS MODEL

29%

26%21%

24%

47%

58%

9%13%

20%

22%

43%

28%21%

8%

49%

Europe

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Investor Relations 2001, average outstanding credit

Outstanding credit Financial margin

34%

25%

16%

25%

15%

25%

10%

50%

2,000,000 cards issued (2/3 of the market)

High contribution

Personal loans

Home appliances

Vehicle financing

Revolving cards

THE CARD BUSINESSTHE CARD BUSINESS

AURA card: #1 revolving credit card in Italy

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Investor RelationsSource: Datastream and Findomestic

1.88%

1.58%

0.95%1.00%

1.15%1.22%

1.39%

1.58%

2.9%

1.1%

2.0% 1.8%1.6%

2.9%

1.8%2.2%

1994 1995 1996 1997 1998 1999 2000 2001

NPLs ratio

Italian GDP annual increase

STABLE PROFITABILITYSTABLE PROFITABILITY

Impressive asset quality and low customer price sensitivity

18.26%19.47%

15.35%14.24%

19.46%19.19%

11.11%10.17%

7.00%

25.00%

1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01

Home appliances

Personal loans Revolving cards

Vehicle financing

Product rates

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Investor RelationsSource : Merrill Lynch

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%

UK ‘00

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

FUTURE TRENDFUTURE TREND

August 26, 2002

BACK-UPBACK-UP

SLIDESSLIDES

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Tier I*

Tier IIDeductions

REGULATORY CAPITAL

SOLVENCY RATIO

Tier 1 SOLVENCY RATIO

FY 2001

785.6

-124.0

454.1

1,115.7

8.28%

5.70%

1H 2002

866.4

-133.6

592.8

1,325.7

9.78%

6.29%

Euro millions

CONSOLIDATED CAPITAL RATIOSCONSOLIDATED CAPITAL RATIOS

+10.3%

+7.8%

+30.6%

+18.8%

+150 b.p.

+ 60 b.p.

Change

*Core capital - No preference shares issued

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CONSOLIDATED FINANCIAL ASSETSCONSOLIDATED FINANCIAL ASSETS

Change

DIRECT FUNDING

INDIRECT FUNDING

Asset under custody

TOTAL FINANCIAL ASSETS

Asset under management

GP (discretionary accounts)

Mutual funds

Insurance products

7.5%

1.3%

2.5%

0.4%

-9.1%

5.5%

1.0%

4.0%

Euro millions

FY 2001

11,058.3

14,091.5

6,063.7

2,340.1

8,027.8

4,089.3

1,598.4

25,149.8

1H 2002

11,885.4

14,279.1

6,215.4

2,137.9

8,063.7

4,312.2

1,613.6

26,164.5

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Investor Relations

FINDOMESTIC EURO ZONEFINDOMESTIC EURO ZONE