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(PDF 7.6 MB)

Apulia. Baia delle Zagare
Social policy report
of the BPM Group
This part of the Social Responsibility Report is dedicated to
the stakeholders. It talks about the activities and synergies
that our Group has developed with stakeholders during the
past year, as well as projects designed to strengthen our
relationship with them more and more in the future.
Baia delle Zagare, located in the Gargano National Park, is an
example of Apulia's beautiful and fascinating scenery.
It contains a hotel which offers a breathtaking natural landscape. For
us it is an honour that this hotel, which is renowned throughout the
world, is a customer of the BPM Group.
Lombardy. Cremona - The Arvedi Steelworks
From left to right: an inside view of the Cremona area head office with frescoed ceilings, staff at work, and a factory near
Cremona. Below: detail of the staircase and entrance to the courtyard of the headquarters of the Arvedi Steelworks.
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Customers
Customers are fundamental for any enterprise operating in the market, as they are for us, a service
company.
We have a solid customer base, but we are well aware that a relationship based on trust has to be built
up day after day, fed with an adequate supply of products and services and with constant attention to
the territory and its protagonists: Individuals, households, small or large corporates.
This attention implies knowing how to maintain the relations with our customers over time, it requires the
ability to listen and meet their needs, a commitment to cultivate those values and to develop those skills
that today allow us to respond effectively to their needs on a timely basis.
A way to make the bank more "sustainable", paying particular attention to the needs of all customers,
including the segments of the population that up to now have been excluded from the banking system,
and to promote ethical investment and respect for the environment.
Customers' expectations: listening
The financial turmoil of recent years has made it even more necessary for banks to create new value
models for their relationship with customers: clarity, transparency, sustainability and traceability have
become key aspects of this relationship. Attention to the relationship and to communication is essential
for an awareness of customers' expectations, their level of satisfaction and areas for improvement.
ID CARD (figures at the end of 2010)
TOTAL NUMBER OF CUSTOMERS
Individuals
Resident in Milan and Province of Milan
Online customers
Foreigners
With ethical funds
beyond 1.3 million
88.6%
41.0%
38.5%
3.4%
0.3%
Figures of Banca Popolare di Milano, Banca di Legnano, Cassa di Risparmio di Alessandria, Banca Popolare di Mantova,
WeBank.
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Lombardy. Mantua - Levoni SpA
Personnel
Community
BPM
group
The BPM Group has for some time been running various activities to promote dialogue and
listening: from traditional methods, such as direct meetings, telephone surveys, complaint
management, call centre and toll-free numbers, to more innovative methods, such as BPM4U
and "The Bank I would like" introduced by Webank, an initiative to collect ideas and suggestions online
(see the table in the section "Online Services" for other listening initiatives).
Suppliers
Customer
BPM
group
Member
and Shareholders
Environment
Customer Satisfaction
In line with the strategy of investing in the central role of customers, in 2010, for the sixth consecutive year,
we carried out a survey of customer satisfaction, also involving, for the first time, Banca Popolare di Mantova
customers, new customers and customers that risk being lost. Overall, the 2010 results1, which relate to more than 7,000 customers
contacted, are better than those of the banking system and represent a distinct improvement over the previous year, particularly in
those segments that have suffered the most from the economic crisis: this aspect demonstrates the Group's commitment and proximity
to local needs, especially in times of difficulty.
The survey also revealed a higher level of customer satisfaction with regard to the professionalism, competence, understanding of
customer needs on the part of the Group's employees, also thanks to continuous investment in staff training.
!
Figures and ratios: Customers
1 Unlike previous editions of the Social Responsibility Report, the graphs in this paragraph show the trend in the NIS indicator of satisfaction calculated as the difference between the percentage of most
satisfied customers (which voted 8 to 10) and those with less satisfaction (from 1 to 5)
1
1
54
2
3
42
Customer care and listening will continue to be important issues for the Group in 2011.
Individual customer results
(Group figures)
54
51
45
2008
2009
 The overall satisfaction of individual customers is rising for all Group banks. In particular,
the highest score in absolute terms is for employees, while the lowest is for current accounts,
though they have turned in the largest improvement over the previous year, above all for
BPM and Cassa di Risparmio di Alessandria.
Private banking customer results
2010
(BPM figures only)
48
 Private banking customers show an overall level of satisfaction which is rising significantly
in all areas, in particular: the range of investment products, dedicated banking products,
yield achieved and timeliness of communications received on investments.
44
38
2008
Small business customer results
(Group figures)
48
45
2008
2009
44
2009
2010
 Small Business customers, while very different among themselves, show results almost in
line with the previous year and in any case better than the system average. The improvements
already recorded in 2009 by Cassa di Risparmio di Alessandria are continuing, which is
gradually bringing it into line with BPM and Banca di Legnano.
2010
SME customer results*
(BPM figures only)
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
For Small and Medium Enterprises (SMEs), the quality of service is high in terms of
contact management and frequency, with levels of satisfaction in line with the system for most
of the topics analysed.
2010
* No data collected from previous editions as not comparable with those of 2010..
1,2,3,4. The Levoni family: since 1911 this firm, which is based in Castellucchio in the province of Mantua, is synonymous with tradition, authenticity and excellence in the field of salumi (cured meats).
The Levoni family has never compromised on the quality of its products and this courageous decision has rewarded it by turning it into a well-known and much appreciated brand all over the
world. Levoni has been a customer of Banca Popolare di Mantova for the last 10 years
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Emilia Romagna. Bologna - Ca' la Ghironda
Handling of complaints
We encourage the development of a corporate culture founded on adequate assistance and information for customers, also in the
area of complaints and reports, as a means of self-protection for the customer.
Seeking the highest possible quality in delivering services to customers and effective management of operational errors and problems
that may be generated in business processes are prerequisites for improving customer relationships and reducing the number of
complaints. In this regard, we believe that greater attention to listening in the traditional locations where financial advice is given and
products and services are offered may be an essential element to improve customer relationships.
2010 marked an important milestone in the field of banking complaints: the evolution in the rules concerning the relationship with
customers has seen the coming into force of the new transparency provisions of the Bank of Italy, which have imposed the adoption
of formal procedures on how to handle, monitor and publish complaints, as well as appropriate organisational measures to ensure
fairness and transparency at every stage of intermediation in customer relationships.
!
In general, 2010 was characterised by an 8.5% decrease in complaints, which mainly concerned the Credit & Loans
and Savings areas; Current Accounts & Services remained stable, whereas the Other Complaints area went up.
Within individual sectors, complaints depend more on micro-organisational aspects (delays, dysfunctions, slow
execution and decision-making) or commercial aspects (non-acceptance of requests, complaints about accounting entries, application
of terms and conditions, fees and expenses); there has been an increase in complaints about organisational and interpersonal matters.
Trend in complaints by sector
1
3500
3000
2009
2500
2010
2000
1500
1000
500
0
Total
Service
Credit
& Loans
Savings
Other
1. Centrale del latte di Alessandria e Asti: this is a company that for more than sixty years has provided high-quality fresh dairy products from milk that comes solely from local farms. In so doing, it plays
an important role in the local economy. It has been with us since 1984.
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2
Compared with the previous year, there has been a decrease in the ratio between complaints processed/incoming complaints and
those that have had a positive outcome for the customer; the average time needed to resolve complaints is improving.
2010
2009
Complaints processed/incoming complaints
92%
99%
Complaints processed with a positive outcome for the customer
32%
36%
16.2 days
18 days
Average resolution time
Lastly, BPM's participation in ABI - RECLARA, an interbank working group for monitoring and processing complaints in the banking system.
3
4
LISTENING TO CUSTOMERS AT BANCA AKROS:
A stable group of bankers, the lean structure and a deep-rooted culture of teamwork, as well as a steady stream of information that ensures maximum
transparency, have enabled Banca Akros to create strong relationships with its clients. Confirmation of this comes from the fact that the level of
customer retention has remained high even in these years of particularly difficult markets.
The bankers meet with their clients on average once every two months; with a group of about 200 clients, a weekly basis is achieved.
2. CA' la Ghironda: is located in Ponte Ronca di Zola Predosa, in the province of Bologna. It consists of an outdoor sculpture park, a botanical garden with more than 25,000 plants, an
exhibition space, a conference centre, a place for exhibitions and laboratory artistic activities with spaces dedicated to schools, families and children. It has been a customer of BPM since 1997
3. Detail of the inner hall which is also used for art exhibitions
4. A detail of the amphitheatre in the park CÀ la Ghironda
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Apulia. Bari - The Casillo Group (Food)
Innovative channels for listening
Through Webank, we are developing a number of innovative listening activities based on the concept of Real Time Search and Idea
Generation Platform. The use of special free tools offered by the internet makes it possible to monitor daily blog and microblogging,
forums and aggregators, in order to detect in real-time suggestions and comments from both our customers and from other Internet
users and to decide on a contact strategy that may be public (e.g. publication of a post) or private (e.g. phone call).
Through "The bank I would like" we have also collected some ideas and proposals for products and features that, if feasible, will be
implemented by Webank.
One of the new means of acquiring private customers adopted by the Group is BPM4U, a web platform dedicated to employees of
client companies that combines traditional contact methods with innovative tools.
FROM LISTENING TO PARTICIPATION: "THE BANK I WOULD LIKE" BY WEBANK
From listening ...
Internet users seek, as far as possible, disinterested advice on the quality of a commercial service. They do so trusting the opinions of
their “peers“, comparing the various products in a given market and the level of service offered.
In the case of an online bank, which bases its raison d'etre on the relationship of trust with its customers on the internet, these methods
of interaction become crucial. In fact, both the methods of listening and communicating with its customers change: from one-way (the company speaks, customers
listen) to two-way (the bank speaks and listens, as does the customer), as well as in a network (customers talk to other customers).
… to participation
“The bank I would like“ is the initiative that from January 2010 collects ideas and suggestions on Webank's products and services.
Participation is open to customers and non-customers: everyone can contribute by making proposals, or simply, by voting for the most interesting ideas. If feasible,
proposals are included in corporate projects: the user receives timely communication on the progress of the idea and, in the event of implementation, an e-mail is
sent to the author of the idea together with a public announcement in Webank's Multimedia News section.
A project of this kind highlights the revolution started more than ten years ago by the advent of online banking, which wants the customer as part of the bank not
only on the operating, but also involved in improving its products and services. Thanks to the potential of Web 2.0, users do in fact have a genuinely "creActive"
role in the company, which has to be prepared and properly structured to gather suggestions and turn them into concrete projects.
BPM4U
This is a web platform dedicated to employees of client companies of the Group which provides access to banking services on favourable
terms with respect to the market: in fact BPM4U promotes the supply of banking services designed specifically for corporate employees and
facilitates their interaction with BPM. In each client company, the initiative is completed by a "BPM Point", or by the physical presence of a
financial advisor planned according to the company's own timing and pace of work. This adds value to the relationship, which helps satisfy
the need for discussion on specific individual situations and to assist employees in the selection of products and channels closer to their expectations.
The central role of the relationship is the real peculiarity of BPM4U, whose mechanism allows customers to express their expectations and needs and
the Bank to meet the growing complexity of the retail market for individuals.
With BPM4U the Group confirms its commitment to offer a response to customers' requests by means of dialogue and listening.
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1
Transparency
Transparency, trust and fairness are the values underlying the relationship with our customers.
In this context, the Group continued its commitment to the initiatives promoted by the PattiChiari Consortium, both by getting involved
in such initiatives and by forming part of the restricted group of banks that will ensure their implementation. In 2010, having completed
the planning phase of the "Commitment to Quality" project with the start-up of the Automated Securities Dossier Transfer service, the
Consortium launched a rationalisation process designed to bring together and redefine individual initiatives to make them as transparent
and clear as possible for customers.
Since last September, with the inclusion of Banca Popolare di Mantova, all of the Group's regional banks have been taking part in the
initiatives promoted by the Consortium.
During the past year, also in accordance with the provisions of the Bank of Italy, we have implemented the following initiatives with
the objective of ensuring maximum transparency for our customers: the creation of an area dedicated to transparency on all websites
of all Group banks, a remake of the documentation according to a logic of greater completeness, comprehensibility and readability,
progressive enlargement of the European Payment Systems Directive (PSD) for standing orders, bank transfers and charge cards, which
established operating methods to provide customers with better protection.
As part of the consumer credit business launched
by ProFamily, a new Group company, at the
beginning of 2011 an exclusive agreement was
stipulated with Adiconsum, one of Italy's most
important consumer associations. This agreement
provides for an assessment of compliance by
ProFamily's contractual standards with the various
regulations that protect the rights of consumers
and users of financial services.
1. Casillo Group: thanks to its role as the largest private user of durum wheat in the world, it is one of the principal global market makers of wheat and milled products (bran and flour) obtained from
wheat. The Group is located in Corato Casillo in the province of Bari and has been a customer of BPM since 2007.
2. Alidaunia: this is the only company in Italy that operates scheduled flights by helicopter. It is based in Apulia. It provides a complete air navigation service: public transport for passengers and
cargo, humanitarian emergency/rescue flights, aerial work in its many applications. It is also a Certified Maintenance Company. It has been our customer since the '80s.
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Emilia Romagna. Bologna - Inver SpA
Products and services
Facing crisis situations
In line with our mission as a Group that is attentive to the needs of the territory, again in 2010, a period of severe financial and economic
crisis, we have confirmed our continued commitment to support individuals, households and small and medium-sized businesses.
We have been close to more than 2,600 families and about 3,500 companies in difficulty due to the economic crisis through a number
of initiatives carried out in collaboration with institutions. We will only mention the main ones here.
Initiatives for individuals and households
 Suspension of mortgage instalments
Special initiatives for the suspension of mortgage repayments for a period of between 12 and 18 months. These include the Family
Plan (an agreement signed by ABI, the Presidency of the Council of Ministers, the Ministry of Labour and Social Policy, ANCI, the
Conference of Autonomous Regions and Provinces, the CEI and consumer associations), the Gasparrini Fund or Solidarity Fund
promoted by the government and the measure of suspension provided for in the Protocol of Intent related to the Tremonti Bonds.
 Hope Loan
Funding in favour of needy families, with at least two children or a disabled person, who have lost their source of income and take
part in a project of re-employment or business start-up. The initiative was launched in 2009 thanks to an agreement between ABI
and the CEI.
 New-born Babies
An initiative promoted by the Department for Family Policies of the Presidency of the Council of Ministers aimed at facilitating access
to credit for families with a new-born baby or adopted child in the three years from 2009 to 2011.
 Advances on state redundancy benefits (CIGS)
An initiative already begun in 2009 in favour of employees of companies throughout Italy.
Suspension of mortgage repayments
Hope Loan
New-born Babies
State redundancy benefits
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2010
2009
762
243
8 mn euro
2.4 mn euro
No. beneficiaries
7
-
Amounts financed
40 thousand euro
-
No. beneficiaries
1.195
-
Amounts financed
5.9 mn euro
-
No. beneficiaries
668
467
2.6 mn euro
2.1 mn euro
No. beneficiaries
Amount suspended
1
The Group also entered into agreements with local organisations and institutions so as to strengthen possible synergies and
enhance our reputation as a Group that stays close to the local community. In particular, BPM has signed a special agreement
with the Province of Milan, Banca di Legnano with the Chamber of Commerce of Milan, Varese and Como, and Cassa di
Risparmio di Alessandria with the Province of Alessandria and Fondazione Cassa di Risparmio di Alessandria.
Initiatives in favour of companies
 Capital reinforcement
An initiative promoted in 2010 by ABI and the Economy and Finance Ministry in support of companies with less than 250 employees
that go through a process of capital strengthening or boosting liquidity as a result of an increase in capital.
 Moratorium for SMEs
Agreement promoted by ABI, the Ministry of Economy and Finance and Business Associations for the suspension of debt repayments
on the part of SMEs in financial difficulty for up to 12 months.
Capital strengthening
Moratorium for SMEs
2010
2009
No. beneficiaries
5
-
Amounts financed
1.6 mn euro
-
No. beneficiaries
3,462
1,446
25 mn euro
10.6 mn euro
Amount suspended
Individual banks have also developed specific initiatives with local institutions to support local companies in crisis.
Cassa di Risparmio di Alessandria has signed such an agreement with the Province of Alessandria and a number of municipalities in
favour of suppliers of public entities and other agreements with the Collegio Costruttori, Api Alessandria, Ascom, Confindustria and
Cassa Edile for the financing of member companies.
Banca Popolare di Mantova has collaborated with Fiditer Mantova, the guarantee consortium for lending to the services sector, to
support those SMEs which are in a business situation that makes it difficult for them to obtain access to credit through normal channels.
OTHER CRISIS SITUATIONS: FLOOD EMERGENCY IN VENETO
After the flood that hit a large part of the Veneto last autumn, BPM took a number of steps on behalf of individuals, households and businesses to
help relaunch the area: namely, a 12-month moratorium on outstanding mortgages and loans and a 50 million euro fund to finance the restoration
of homes or businesses.
1. Inver SpA: it is a landmark in the world of industrial paints. It has numerous locations around the world and is one of BPM's longest-standing customers
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Trentino - Leitner Technologies
Promoting environmentally sustainable lifestyles
In line with the growing emphasis on the environment and as a result of several initiatives, the Group's catalogue has been enriched in
recent years with products intended to support the environmental decisions of its retail and corporate customers.
For detailed information on products, reference should be made to the paragraph on Green Finance in the Environmental Report.
Support for the disadvantaged
In line with the tradition of a Group sensitive to social issues, we have continued our commitment to developing products and services
with the aim of facilitating access to credit for the weakest categories. The main ones are as follows:
Immigrants
Immigrant customers are served through a dedicated line of bank accounts and services: the Conto Extraordinario, an exclusive line of
products specifically for foreigners, and Servizio Bancario di Base, a line dedicated to those who are entering the world of banking for
the first time. These services have been promoted in collaboration with representatives of various foreign communities, as well as through
the Group's branch network.
The remittance service has been further implemented through direct agreements with foreign banks and through the Western Union
Service, accessible through the network of agencies, which in 2010 had a substantial increase in transactions (+29%) and volumes (+18%)
over the previous year.
For our continuous commitment to the economic integration of migrants (Welcome Bank Observatory), the jury of the Welcome Awards
2010 described the Group's activities as "meritorious".
In 2010, Banca Popolare di Milano promoted the “Clienti&Vincenti“ competition as an additional
incentive for this customer segment to use banking services. The competition encouraged customers
to introduce a friend or relative to BPM to open a "Conto Extraordinario" current account, which
entitled them to take part in a prize draw along with other new customers.
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navigatori satellitari
in palio!
10_180_2FLY_CARTOL_15X10.indd 1
29/06/11 13.59
Young People
The Group has a number of projects in favour of young people, especially during this difficult period for the economy.
edizione luglio ‘08
dire. fare. popolare.
ormati qui.
i per conoscere tutti i dettagli:
diamoglicredito.it
www.bpm.it
dire. fare.
laureare.
Diamogli Credito:
il finanziamento
per chi studia.
nca Popolare di Milano
BPM 800 100 200
’iniziativa Diamogli Credito,
mediante un accordo
ociazione Bancaria Italiana (ABI)
www.bpm.it
Popolare è la firma, il sorriso è per voi.
62
“Diamogli Credito“ is a loan designed for undergraduate students between the ages of 18 and 35 to finance
training, for which no specific guarantees are required apart from a good exam record.
To facilitate students' access to credit on favourable terms, there are also agreements with various universities
in Milan (Bocconi University, Milan Polytechnic and NABA - New Academy of Fine Arts in Milan).
In 2011, we plan to launch “Diritto al Futuro“, a series of services developed in collaboration with the Ministry
of Youth addressed to the younger generation on labour, housing, training and self-employment issues.
1
The Third Sector
Non-profit organisations are also included among the categories of the "weak" who were affected particularly badly by the economic
crisis: voluntary associations, social cooperatives, NGOs, religious bodies, etc.
For years, the BPM Group has supported such entities not only through donations and sponsorships (for details, please refer to the
Community section), but also with a dedicated multi-purpose commercial service called Faresolidale, which is designed to inform, give
visibility and facilitate meetings between those involved in solidarity initiatives.
Victims of usury
In 2010 we continued with initiatives to prevent usury.
In addition to the agreements signed with major guarantee consortiums with which dedicated lines have been studied for the prevention
of usury, we have entered into agreements with other local or provincial entities (Fondazione Buon Samaritano in Foggia and Ambulatorio
Antiusura Onlus, Adiconsum Fondo Prevenzione Usura, Fondazione Adventum Onlus and Fondazione Wanda Vecchi Onlus in Rome).
Other interventions
In the first quarter of 2010 BPM entered into a Protocol of Intent with the Municipality of Milan to support youth and female
employment and entrepreneurship in small enterprises. Of the 100 million euro allocated, around 2 million euro were requested by more
than 40 businesses.
Lastly, in October 2010 we launched "Millecooperative", an initiative developed in collaboration with Cooperfidi which provides credit to
cooperative start-ups throughout Italy.
Socially responsible investment products
Number of Group customers with ethical funds
4,736
As confirmation of this, two of Etica SGR's funds have received prestigious
awards: "High Return" from Sole 24 Ore, as the "Best International
Geographical Equity Fund" and the "Best Italian Balanced Fund", and Lipper
awards for the best yield after three and five years.
3,232
2,293
2007
2,411
2008
2009
We continued our efforts to disseminate "Valori Responsabili", the ethical
investment funds of Etica SGR, which again turned in good results in 2010.
2010
To raise the awareness of customers and the general public about this form of
investment, in 2010 we organised some interesting events in Rome and Milan
in collaboration with Etica SGR: participation in ABI's CSR Forum as a partner
of the event, involvement of the network in the Socially Responsible Saving
initiative and the organisation of a conference entitled "The responsibility of
investors beyond ideology: comparative experiences" held at BPM's head
office.
1. Leitner Technologies: based in Trentino, it has been synonymous with high performance in the field of technology for the last 120 years. Leitner produces cable cars and plants for winter sports with
modern and attractive solutions. This company's products are more and more in demand, even in cities, where they offer a sustainable passenger transportation system. Leitner has been a customer since
2009.
63
Emilia Romagna. Bologna. Paolo Atti & Figli
Contribution of the BPM Group
to total assets managed by Etica SGR
18.5%
18.0%
17.8%
Growing interest in this type of investment was registered at all Group
banks during 2010. This is demonstrated by the fact that at year end Group
customers who had subscribed to ethical funds had increased by almost 50%
and assets by about 43%.
17.4%
2007
2008
2009
2010
Services online
In 2010 Webank consolidated its position as an online bank with a complete, state-of-the-art service in this segment, strengthening the
Group's presence in online banking. With the merger between Webank and WeTrade SIM, in December 2010, we !
strengthened our online banking offer, including services in the trading and investment area.
Mobile banking services are provided by m-site and Android/iPad applications; the number of active customers per month increased
from 350 at the end of 2009 to 2,700 at the end of 2010.
We also offer our customers a number of support channels, including:
 Customer Service: toll-free phone number to provide surfing and operational assistance in account, savings and investment
management.
 Virtual assistant: support software for customers using the site, accompanying them to the pages that they are interested in
and providing general information on deadlines and how to use the products.
 Chat Help Centre: a simple, fast and accessible means of contact that allows customers to interact online and in real time with
operators to get technical support, surfing assistance and information about their personal position.
 Call me back: a contact channel with telephone appointments set by the site indicating the time slot for the return call.
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1
Operating in controversial markets
As part of operations in the field of import, export and transit of military
goods in accordance with Law 185/90, during 2010 we received about
83 thousand Euro not subject to prior authorisation for a programme of
intergovernmental co-production of armaments for the EFA (Eurofighter).
Trend in technical operations (in millions of euro)
57.9
43.6
In compliance with the Group current policy of a gradual withdrawal from the
arms market, except for operations falling under Law 185/90 and deemed
consistent with the spirit of an "unarmed bank"1, in 2010 no new dossier
was opened subject to prior authorisation nor were any funds received for
operations already authorised in previous years.
18.2
6.2
4.9
0.0
2008
0.0
2004
2005
2006
2007
2009
2010
As part of the process of revising our policy on arms with a view to adopting
new guidelines to evaluate individual transactions according to their real
significance in terms of social responsibility and not according to their bureaucratic aspects, we held discussions with Banca Etica in order
to benefit from their input.
2
1
The concept of a bank that works with selective and restrictive criteria in terms of the types of arms that can be exported and the countries that the arms are being sent to.
1, 2. Paolo Atti & Figli: Paolo Atti & Figli has been producing bread and sweet and savoury treats for gourmets in Bologna and beyond since 1880. Over the years the business has grown, without
losing the original philosophy based on quality and research for the best possible product. The Atti firm, which has been admitted to the prestigious Associazione dei Locali Storici d'Italia (Association
of Historical Places of Italy), has been a customer since 1960.
65
Lombardy - Milan, Bracco SpA
Security and privacy
We monitor the various aspects of security and privacy on the basis of regulatory obligations that require coordinated and effective
action; to this end, we carry out the various activities related to security (physical, IT, archive and product security), privacy and business
continuity, ensuring synergies and common goals. On these issues, we organise specific training sessions for all staff involved and
participate in external working groups mainly promoted by ABI, including the Observatory on Secure Identity Management in Banks
and the Cyber Attack Warning Centre.
 Physical security: a for the security of our customers and staff working in our branches, we adopt a combination of measures
to strengthen control systems to reduce the risk of robbery: video surveillance systems, biometric recognition systems through the
collection of fingerprints, installation of Cash In Cash Out devices which simplify teller duties and reduce the risks involved in handling
banknotes, and agreements with police headquarters (see the Health and Safety section of the chapter on Personnel).
At the end of 2010, 219 BPM and Banca di Legnano branches were equipped with biometric recognition systems, 18 more than the
previous year. Robberies suffered by the Group's commercial banks during the year came to 49, a decrease of 14%.
 IT security: in the field of online services, we have moved with the objective of improving security systems to prevent fraud. Among
the activities that respond to the first goal, there are:
• expansion of the initiatives under the Security Programme launched in 2008, which focuses primarily on the information given to
customers and additional alert mechanisms (new SMS, email control);
•improved tools to support the Group's "Rapid Security Intervention", established in 2009, which deals with the monitoring and
management of suspicious situations;
• the evolution of digital signatures for business customers.
The prevention of computer fraud, which mainly involved Webank, has become a strong educational role in the use of social
networks and information technology through a careful and ethical direct presence on the new platforms and with a continuous
provision of information to customers. Specifically, Webank introduced mechanisms to identify suspected false identities and has
promoted training activities related to the identification of false documents for those working in credit and loans.
This commitment, combined with the development of prevention and risk reduction tools and continuous monitoring, has led to
significant results for the entire Group, with a number of frauds per active customer that is below average for the banking system
(0.001 according to internal data in 2010 compared with 0.013 calculated by ABI in 2009).
 Card security: in this area, we continued to protect ourselves against fraud with the promotion of services designed to increase the
security of online shopping.
 Product security: in 2010 we proposed to holders of policies sold by the Group's networks with underlying Icelandic securities
to transform them into new products with guaranteed benefits from BPM Vita. The transformation, which was designed to avoid
customers incurring losses, ended with great success (99% participation), resulting in a 55 million euro charge for the Group.
66
1
 Business
continuity: in line with the requirements of the Bank of Italy, since 2006 we have a specific plan to ensure business
continuity and protect critical operations in the event of an emergency or disaster. In 2010, several trial runs were held at all Group
banks to assess the effectiveness and efficiency of the plan in the event of an emergency or outage. Based on the results of these
tests, we identified improvements to be made in future projects. Activities have also been initiated to ensure business continuity in the
Finance Department's main procedures.
 Privacy: we are convinced that personal data should be protected, quite apart from what the law says. For this reason, we try to
create "islands", also in the branches, where customers and bank staff can talk in peace and in the strictest confidence.
On our Internet sites, we provide all updates on the processing of personal data and the rights that the law gives our customers.
Corporate Image
Communication by the Group and by the individual banks has helped to increase market awareness of certain aspects of our
corporate identity, the intention being to improve the perception of what we offer and of our ability to meet the needs of different
customer segments in the long and short term.
“Being in the green (the Italian equivalent of being in the red) with us is a value. For a better environment”: this is an ironic
statement, but one that is strong and decisive. We used it for the advertising campaign in which the various banks in the BPM Group
revealed their “green soul“.
Cassa di Risparmio di Alessandria, continued down the path begun in 2009 by relaunching its brand as the
bank of reference for the territory, lending its image to various projects by trade associations or local institutions.
WeBank adopted an innovative and engaging metaphor to describe the characteristics of the product offered
through the image of an animal that is half cow (an animal that produces) and half cheetah (an animal that runs
fast), representing the Bank's efficiency: "Webank, the bank that produces fast" is in fact the claim of the TV spot
and the web campaign. With ironic and familiar language, Webank has approached a wider audience, trying
to overcome traditional resistance to the world of banking.
In 2011, efficiency and performance become key points to convey the image of a bank which offers a vast range
of services.
ProFamily has been trying to create a revolutionary brand in the financial sector capable of expressing the
values of the Company: authenticity, tranquillity, reliability and proximity. They came up with the “Chicken Heart“,
graphically a combination of a small chicken and a heart, which won first prize as “Brand of the Year 2010“ in
the Logo Design section of the Brand Identity Grand Prix.
1.Bracco: this pharmaceutical group, founded in 1927, is a landmark in the medical sector, thanks to its continuous research to improve the quality of life. Bracco SpA is one of BPM's long-standing
customers
67
Milan, 2010 General Meeting of Members
Photo: "BPM's Geodesic Dome", the symbol of BPM's commitment to the environment, built during the 2010 Annual General Meeting at Fieramilanocity.
1
Members and Shareholders
As a listed co-operative bank, we attribute a fundamental role to the relationship we have with our members
and other shareholders, in accordance with our mission, our guiding principles and the needs of the other
stakeholders.
We strive to maintain and develop the traditional relationship of trust and transparency that we have
always established through effective and constant communication and involvement, while also enhancing
the profile and mutual exchange that characterises this relationship.
With a view to increasing our identity as a large co-operative bank deeply rooted in its territory and close
to the needs of local communities, we continue to enlarge the shareholder base, particularly by developing
policies that give our customers incentives to become or remain members of the Bank and to raise their
sense of loyalty to it.
BPM's share Capital
Share capital structure
BPM's share capital is made up of registered shares that cannot be split. The ownership of shares
gives shareholders exclusively capital rights, such as dividend and option rights. BPM shareholders
acquire the status of "Member" and the related rights of participation in the corporate life of the
Bank only once they have obtained approval and inclusion in the Members' Register according to
the law and the Articles of Association.
ID CARD
(figures at the end of 2010)
TOTAL NUMBER
Members
BPM's Customers
Individuals
Resident in Milan and Province
of Milan
Foreign institutional investors
SHAREHOLDERS
SHARES OWNED
97,099
53.6%
41.6%
97.9%
44.1%
415,055,195
28.2%
16.1%
42.2%
26.1%
0.2%
32.3%
69
Personnel
Community
BPM
group
!
Figures and ratios: Members and Shareholders
At the end of 2010, BPM had more than 97,000 shareholders,
a slight increase over the previous year (+0.4%), split into
more than 52,000 members and 45,000 shareholders who
are not members.
Suppliers
Customer
BPM
group
Member
and Shareholders
Environment
The composition of BPM's shareholder base reflects its status as a listed co-operative bank.
In fact, the Bank's share capital includes:
 a large number of individual shareholders (97.9%), confirming the importance of participation on the part of the individual and
mutualistic relationship between members, these being the principles that have always inspired the cooperative banking movement;
 large presence of employees and customers, most of whom are members;
 concentration in the areas where the Bank has opened branches, especially as regards members. There tends to be a higher
proportion of shareholders who are not members in the other regions and abroad;
 a high level of fragmentation as a consequence of the rule that limits share ownership to 0.50%, excluding Undertakings for
Collective Investment in Transferable Securities (UCITS).
Composition of the share capital (% held)
Institutional investors1 41.7%
Other shareholders 44.9%
In recent years we have consolidated
the presence of institutional investors
(approximately 42% of the share capital),
evidence that the more qualified financial
professionals are interested in the Bank.
Within this category, although if foreign
investors are fewer in number than in 2009,
their weight has become significant in terms of
share capital.
!
Partner shareholders2 5.5%
70
Large shareholders1 7.9%
Among the shareholders with more than one
hundred thousand shares, which together
represent 55.07% of the share capital, there
are still the two strategic partners Fondazione
Cassa di Risparmio di Alessandria and Crédit
Mutuel (CM-CIC) with 5.5%.
1
Institutional Investors and Large Shareholders with 100 thousand shares or more. Institutional Investors include Qualified Operators and Undertakings for Collective Investment in Transferable Securities
(UCITS)
2
Partner shareholders: 4.9% CM-CIC Group, 0.50% Fondazione Cassa Risparmio di Alessandria
1
Limits on share ownership
The rule in the banking sector (art. 30 of the Consolidated Banking Act), which is reflected in art. 21 of our Articles of Association provides
that no one can hold shares in excess of 0.50% of the share capital. This limit does not apply to mutual investment funds; the relevant
limits in such cases are those imposed by the rules of the fund concerned.
In 2010, in line with this provision:
 BPM contested 23 shareholders who had exceeded this threshold;
 institutional investors who, according to the information available to the Bank and movements reported by CONSOB, held a
“relevant“ shareholding, i.e. higher than 2%, included the following:
Relevant shareholders at 31 December 2010
Number of shares
% held
GRUPPO CM-CIC
20,710,208
4.990
SOCIéTé GéNéRALE
17,859,528
4.303
NORGES BANK
9,132,945
2.200
UBI PRAMERICA SGR SpA
8,518,451
2.052
DIMENSIONAL FUND ADVISORS
8,309,133
2.002
Terms of admission to membership and exclusion
According to the rules on co-operative banks, membership status is not acquired just by owning shares, but by being recorded in the
Register of Members (approval clause); those who do not ask to be registered or those that the Board of Directors do not approve for
registration, giving the reason why, remain simple shareholders and only enjoy capital rights, not the right to vote. If rejected, an aspiring
member can appeal to the Board of Arbitrators according to the rules laid down in the Articles of Association.
The application of the law which refers to the method of admission and exclusion of members (art. 2528 Italian Civil Code and arts. 11
and 16 of the Articles of Association), as well as management of the relationship with them, are governed by a framework resolution that
provides for the creation of a Members' Relations Commission, which is vested with powers of investigation for admission and exclusion
of members and all other powers specified in the Resolution. This Commission also plays a particularly important role in the relationship
with members by studying, planning and proposing initiatives dedicated to them and to support the mutualistic spirit.
During 2010 the Members' Commission developed a series of amendments to the Framework Resolution to promote expansion of the
membership base and increase participation; these amendments were approved by the Board of Directors in January 2011. Specifically,
these amendments concerned the procedures for admission to membership, making it easier in particular for shareholders who do not
have their shares on deposit at BPM (possibility to submit the Application Form through third party representatives or to send it in by
registered mail).
1. Ale & Franz and Friends: March 2010. First event organised by the BPM Club Members : a charity evening exclusively for BPM members at the Auditorium of Milan, with the participation of
artists from the cabaret programme “Zelig“
71
Trend of members and % of total shareholders
52,082
50,823
53.6%
48,219
52.6%
After the significant increase in applications for !
admission as a registered member at the beginning
of 2009, also with a view to taking part in the General Meeting of Members for
renewal of the corporate bodies, in 2010 the positive trend decreased, albeit with
a better trend than in previous years. It then increased again towards the end
of the year which closed with the admission of more than 2,400 new members.
The renewed positive trend was stimulated by the various initiatives proposed by
the BPM Club Members and by training and awareness activities aimed at the
commercial network.
51.9%
The results of the first few months of 2011 confirm this trend, favoured by
simplification of application procedures and by the ongoing programme of
2008
2009
2010
training of the commercial network. The decline in membership concerned about
1,200 people, most of them because they no longer owned shares. Thirteen were
readmitted as their minimum shareholding was ascertained after the resolution to exclude them in January 2010.
Value creation and return on capital
BPM has been listed on the Italian Stock Exchange since 1994 and is one of the 40 larger Italian companies that make up the FTSE MIB index.
As a listed cooperative bank and in accordance with its mission, BPM combines the features of a cooperative company - focus on
interpersonal relationships, mutual aid to the membership (internal mutuality) and the reference area (external mutuality) - with those of
a listed company - attention to the rules of the market, efficiency and profitability.
The high level of economic uncertainty that continued in 2010 weighed negatively on stock markets across Europe and, in particular,
on the shares of the banking sector. In the wake of this trend the Italian banking index (FTSE All Share Italian Banks) showed a negative
change of 11.5%.
Specifically, the BPM stock has fallen by 47%, fluctuating between a high of 5.57 euro (15 January 2010) and a low of 2.64 euro (30
December 2010), with average daily volumes of 4.7 million shares being traded. At the end of 2010 the stock was at its lowest point for
the year, giving a market capitalisation of more than 1 billion euro.
2010
2009
2008
415,055,195
415,034,231
415,034,231
Closing price for the year (euro)
2.637
4.978
4.182
High for the year (euro)
5.568
5.818
9.094
Low for the year (euro)
2.637
2.770
3.780
Market cap. at year-end (in millions of euro)
1.094
2.066
1.736
No. shares in circulation
72
1
Performance of the BPM stock in 2010
BPM
BPM volumes
6.000
FTSE Italia All share banks
35,000
20,000
3.000
15,000
2.000
10,000
30/11/2010
31/10/2010
30/09/2010
31/08/2010
31/07/2010
30/06/2010
31/05/2010
30/04/2010
0,000
31/03/2010
0.000
28/02/2010
5,000
30/01/2010
1.000
30/12/2009
Performance (euro)
25,000
4.000
Volumes traded (thousands of shares)
30,000
5.000
Despite these hard times for the economy, the worst crisis in the last 60 years, our Group still managed to close 2010 with satisfactory
results, posting a consolidated net income of 106 million euro, +2.3% on 2009. The Board of Directors has therefore decided to propose
a dividend of Euro 0.10 per share, the same as in the last two years.
*
2010
2009
2008
Shareholders' equity (thousands of euro)*
3,737,196
3,788,851
3,177,278
Net income for the year (thousands of euro)
105,970
103,553
75,269
Dividends resolved (thousands of euro)
41,455
41,504
41,503
Earnings per share (Euro)
0.178
0.201
0.180
Price/Earnings (P/E)
21.65
22.48
36.58
Dividends per share
0.10
0.10
0.10
Yield per share (compared with the average share price)
2.59%
2.21%
1.52%
Equity per share (excluding net income) (Euro)
9.004
9.13
7.66
Price/Book Value (P/BV)
0.43
0.50
0.86
The 2009 and 2010 figures include the amount of the “Tremonti Bonds” and the equity element of the “Convertendo” bond
1. General Meeting of BPM Members: view of the area of the pavilion at Fieramilanocity set aside for BPM's Members Club. This area was split into three sections dedicated to the members
(Banking, Non-banking and "Counting on you"), highlighting all of the benefits reserved for them
73
Communication with members,
shareholders and the financial community
We communicate with members, all other shareholders and the financial community, drawing on principles of correctness, clarity,
continuity and timeliness, making use of many different tools: the financial and social report, the letter sent to members and shareholders
at the time of the Members' Meetings, dedicated structures (External Relations, Investor Relations, Relations with Members) and online
channels (websites and e-mail boxes).
Contacts with institutional investors
and financial analysts
819
802
791
2008
2009
2010
The financial community
We attribute strategic importance to financial communication as a key way of building a relationship
of trust with the financial market.
Through the Investor Relations function, we maintain an ongoing dialogue with analysts, institutional
investors and rating agencies, promoting clear, timely and accurate communication, with the aim of
fostering a proper valuation for our business. For this, we use the most common tools of financial
reporting: conference calls for the presentation of financial results, meetings with small groups
and individual analysts and investors, road shows on the main European and American financial
marketplaces, daily contacts, as well as our website. Contacts with the financial community during
the year came to more than 800 in total, up on 2009, in most cases also involving top management.
To improve communication with the financial community in terms of transparency and timeliness, in early 2011 we
! Figures and ratios: Members and Shareholders
organised for the first time a meeting between top management and financial analysts who cover the BPM stock.
The analysts have shown their appreciation of our commitment to direct communication in an open meeting where
questions and opinions can be exchanged. The excellent
feedback has convinced us that it is worth repeating this
Opinions expressed by analysts
event during the current year.
50%
50%
47%
Hold
The interest in the Group is confirmed by the higher number of
analysts who regularly conduct studies and research on BPM
Sell
(22 at the end of 2010). In the previous year, their assessment
of the stock was affected by the difficult economic situation
Add
29%
that led to a reduction in the average target price from 5.72
27%
24%
25% 25%
23%
euro in 2009 to 3.83 euro in 2010. However, expectations
of a recovery in the share value increased, justified by an
improvement in the opinions expressed, which compared
with 2009 included more "add" recommendations.
2008
74
2009
2010
1
Rating
For a better assessment of the trend in our performance, we are subjected each year to the opinion of independent analysts. This helps us understand
our position compared with competitors and identify possible improvements. The opinion that they express is also useful externally as it provides
financial operators with support for their investment decisions.
In 2010, two of the three top rating agencies, Moody's and Standard & Poor's, expressed their evaluations of the Bank's solidity, confirming all of last
year's ratings. Fitch Ratings, while reducing the short and long term rating as a result of a deterioration in credit quality !
and pressure on revenues, increased the outlook from "negative" to "stable".
In addition to the financial and capital results, our performance in the field of social responsibility was also assessed by a specialist company SAM for
possible inclusion in the Dow Jones Sustainability Indexes. In the 2010 assessment, we received an overall score of 52/100, up from previous years and,
for the first time, higher than the average score of the financial sector. The
score for the three dimensions - economic, social and environmental - is Results of the Dow Jones Sustainability Index compared with
the system
also showing a gradual improvement.
Our best results came in social reporting, anti-crime measures and
Total score
management of customer relationships. Environmental issues show plenty
100
room for growth, despite a significant improvement over the previous
90
evaluation.
90
80
84
86
89
70
60
50
40
63
67
48
48
41
51
46
42
30
52
73
69
20
10
0
2006
2007
2008
2009
Key:
• BPM: score obtained by BPM
• Avg Score: average score of the banking sector
• Best Score: best score obtained by the banking sector
• Lowest DJSI: lowest score on the index
1. BPM Members Club: a series of events dedicated to health and other topics related to leisure. These are held on a Thursday each month at the Sala delle Colonne in the Piazza Meda head
office of Banca Popolare di Milano
75
Involvement of Members
Participation in Members' Meetings
One of the prerogatives of co-operative banks is the high level of participation at General Meetings because of the one-man-one-vote system: each
member has the right to express only one vote, quite apart from the number of shares owned. General Meetings are not only the key occasion to meet
and discuss matters. They are a moment when each member has a chance to take part in the Bank's corporate governance by debating all important
decisions of an ordinary or extraordinary nature and then casting the vote given to them by law and the Articles of Association.
To encourage widespread and informed participation by the members at General Meetings - a value for the member but also for the Bank - various
tools and methods are prepared each year to allow the members to participate with full awareness of the matters in hand and for the proceedings to be
carried on in an orderly fashion: regulations for general meetings, advance publicity of the candidatures for directors and officers, the letter to members
on significant events, comfortable surroundings with adequate reception facilities that encourage conversation among members and their sense of
belonging to the Bank. This model of “corporate democracy” is also helped by the list voting system which allows minority groups to be represented,
thereby reinforcing the relationship with BPM's varied membership base.
Some 2,600 members were present either physically or by proxy at the General Meeting in April 2010. An important
innovation was the organisation of video conferences at the local offices in Bologna, Rome and Foggia, in order to
facilitate and promote the participation of members in those areas, even if they are not allowed to speak or vote. This initiative was considered a test
run for the organisation of decentralized meetings, which in future should allow remote attendance with the chance to speak and to vote, once the
necessary amendments have been made to the Articles of Association.
!
The BPM Members Club stand attracted the attention of the members attending the AGM, acting as a meeting point and a source of information of
significant visual impact, generating active involvement. The presentation of the Club and authorised suppliers, together with the distribution of gadgets,
helped bear witness to the attention that the Bank pays to its membership base. The Geodesic Dome was also presented during the 2010 Meeting: this
initiative aims to give visibility to the issues of environmental responsibility, through the presentation of "green" initiatives implemented by BPM.
With the aim of encouraging greater member participation at General Meetings and enlargement of the membership base, in 2010 the Members'
Relations Commission drafted a reform of the Articles of Association which was approved in February 2011; it concerns, among other things, an
increase in the number of proxies and the possibility of arranging decentralized meetings from 2012. The proposed amendments were also discussed
with the Members' Associations before finalising the review.
76
1
Members' Project
The General Meeting is the natural and privileged occasion for expression of the participatory and mutualistic spirit between the members
and the Bank. Over the years we have added a series of initiatives to this traditional rendezvous, with a view to increasing customer loyalty
and expanding the membership base.
In 2010, we developed the Members' Project, following the guidelines approved by the Board of Directors in 2009 and with the ongoing
planning and supervision of the Members' Commission. The BPM Members Club, which is the real achievement of this project, produced
four cultural events during the year, with a rising number of participants and a high degree of appreciation on the part of the members.
These included the charity event during which the Members Club was presented and the oldest (lady) member was awarded a prize. The
communication campaign through the website and direct collection of members' e-mail addresses increased the effectiveness of information
flows to them and made it possible to direct the Club's activities according to their preferences.
One of the strengths of our attention to members is the offer of banking and non-banking products and services through a widespread
network of authorised suppliers. Then there is the programme of training and awareness for the commercial network, which, as an indirect but
effective channel, aims to enlarge the membership base, and in recent months has shown positive effects. The continuation of training in 2011
to all areas of the Bank and the Group's commercial banks will lead to results in line with the forecasts in the Strategic Plan.
Members' Associations
With the aim of stimulating discussion and the participation of members in the life of the co-operative, in addition to General Meetings, we encourage
them to get together in associations that represent similar interests, while still in the general interest of the Bank and according to the spirit of the
co-operative model.
In this regard, we make available to them facilities such as meeting rooms at the offices in Via Mazzini, Milan, a stand at the AGM and certain sections
in the Social Responsibility Report.
At present, three associations are represented on the Board of Directors:
 The "Friends of Banca Popolare di Milano", for those members who are also employees;
 "Together for Banca Popolare di Milano" or "Assoinsieme", which is for members who are former employees or customers;
 The "Non-BPM Staff Members Committee", which represents above all members who are not employees of the Bank.
The following pages, written by the individual associations, present their characteristics, objectives and activities in 2010 1.
The Bank, represented by the Chairman and/or the Members' Relations Commission, maintains a dialogue with the associations, assesses any requests
or proposals that they make, and responds to any questions about particular aspects of the Bank.
In 2010 the Commission continued its activity started in the previous year of listening and discussing, focusing mainly on enlargement of the membership
base; this debate will continue in 2011, with a view to enhancing the contribution that the members can make to the life of the Bank.
1
Each association is responsible for the content of the texts that they write
1. BPM General Meeting of Members: panoramic view of the Sala Plenaria and a detail of the podium
77
Friends of Banca Popolare di Milano
Profile and aims of the Association
The "Friends of Banca Popolare di Milano" Association was set up in 2003 as an evolution of the previous organisations that represented staff members,
following the amendment made to the Articles of Association to introduce the list voting system for the renewal of the Bank's governing bodies.
The principal aim of the Association is to protect the interests of all of its associates and sustaining members, based on the maintenance and development
of the Bank's co-operative status and on their participation in its share capital. To this end, the tasks of the Association include:
 stimulate participation at corporate events and investment in BPM shares;
 to optimise relationships with all stakeholders of the Bank;
 the sustainable economic and social development of the geographical areas concerned through the enhancement of relationships with
customers, institutions and civil society;
 the attention to developments in the rules and regulations that govern co-operative banks, especially those concerning the one-man-one-vote
rule and direct participation on the part of the members;
 to express an opinion to the governing bodies with regard to the more important topics affecting the Bank and the Group;
 to provide ongoing information to its associates with a view to getting them involved as much as possible in the life of the Co-operative.
The activities carried on to date have demonstrated over the years the importance of the role of staff members, who have always contributed to the
Bank's good results and to its growth with their work, their participation in the life of the company and their investment in BPM shares. The representativity
of the Association has grown over the years, helped by the fact that it has been joined (as sustaining members) by members' families, by the employees
of other Group companies and by all of the members who share a common interest in maintaining and developing BPM's co-operative status.
ID CARD
NAME (in full): FRIENDS OF BANCA POPOLARE DI MILANO
NAME (abbreviated): FRIENDS OF BPM
Year of constitution: 2003
Registered office: Via S. Paolo 16, Milan
Number of members at 31 December 2010: about 7,000
Chairman: Alessandro Dall’Asta
78
Activities and initiatives carried out during 2010
Activities in 2010 covered a number of key areas in line with the purposes of the Association as laid down in its by-laws: initiatives to generate involvement
and debate with the associates, proposals for reform of the Association's by-laws and revamping of the institutional website.
 With the aim of maintaining an ongoing debate with the associates and to stimulate their participation in the life of the Bank,
the Association organised more than 20 local meetings (5 in 2009) at the beginning and end of the year. In the first series of
meetings held in preparation for the AGM in April, colleagues of the Group were invited for the first time in order to make
the co-operative model more shared, transparent and efficient, in line with the values of the Bank expressed in the Charter of
Values and Commitments.
A second round of meetings was organised to present the new programme to the associates after various empty positions on
the elected bodies had been filled as a result of certain delicate matters within the Association.
In general, attendance was high, with more than 1,500 people.
 In line with the new programme, the Association began a reform of its by-laws and the electoral rules which will continue
during 2011. It will then be submitted to the associates for approval in May.
 To improve communication, the revision and updating of the website was completed, with a modern and dynamic graphic style
through the integration of video and images.
Lastly, with a view to satisfying local needs, the Association allocated 30,000 euro from membership fees to the earthquake victims in Abruzzo for help
finance a number of reconstruction projects.
Future plans and goals
The following objectives are confirmed as priorities for 2011:
 encouraging the direct participation of employees in the life of the Bank, through:
- incentives to own shares with appropriate and modern financial instruments;
- widening the membership base of the Association to Group employees, family and customers;
- initiatives to enhance the role of the employee member in accordance with principles of solidarity and mutuality and respect for diversity;
 discussion on the update of BPM's Strategic Plan in the light of the impact of the post-Lehman Brothers crisis and its consequences in terms of:
- the need for more capital;
- improved profitability together with a conscious and prudent assumption of risk;
- organisational simplification and effectiveness.
CONTACTS OF THE ASSOCIATION
Address: : Via S. Paolo 16 – 20121 Milan
Telephone: 02/77004329 - Fax: 02/77003905
Website: www.amicibpm.it
E-mail: [email protected]
The Association's by-laws and mission statement are available on the website and can in any case be obtained from the head office of the Association.
79
Together for Banca Popolare di Milano
The Association was formed by a group of former employees of the Bank as a result of changes to the Articles of Association approved by the
General Meeting of 19 December 2002, which intended to encourage associations of members and the use of voting lists as the primary tools for the
participation of members in issues relating to the Bank. In order to develop mutual and social purposes and relationships with the territory as is usual
for a co-operative, the Association is open to any member of the Bank who shares the objectives and purposes laid down in its by-laws.
In line with the guidelines of its mission, the purpose of AssoInsieme is to encourage active participation on the part of its members by behaving in ways
and taking decisions that protect and enhance the co-operative banking model, considering participation as the most effective way of fostering the
Bank's progress based on the principles of mutuality.
AssoInsieme, in nearly a decade of activity, has stood out as an institution open to all BPM members, independent, faithful to the principles laid
down in its deed of foundation, determined to defend co-operative values, promoting dialogue with other associations and conscious that the good
performance of the Bank cannot disregard strict observance of the institutional role of the entities that interact within the “BPM system“ (Board of
Directors, Management, Members' Associations and Trade Unions).
One of Assoinsieme's main objectives is to keep alive the dialogue between those who served the Bank as employees and those (customers, investors,
etc.) who support it with their business activities and by holding part of its share capital.
In February 2010, the Association renewed its governing bodies. It also continued to involve its associates with public debates, workshops and meetings,
also on a local basis, on many issues, collecting ideas and suggestions likely to improve the way the Association operates and its representative role in
support of the Co-operative.
Of particular note was the launch of a series of meetings, open to all members and supporters, aimed at encouraging the circulation of corporate
information, something which is important for promoting a wider and more qualified participation of members in the life and growth the Co-operative.
ID CARD
NAME (in full): Associazione Insieme per la cooperativa Banca Popolare di Milano
NAME (abbreviated): Assoinsieme
Registered office: Milano Via G. Mazzini 11
Number of members at 31 December 2010: over 3,000
Chairman: Davide Meale
80
As a result of greater involvement on the part of the associates, interesting proposals have emerged in terms of corporate governance, orientations
and analyses of BPM's business situations that have been made available through the Association's newsletter and website. This has also allowed
Assoinsieme to take an active role during the year in discussions of business problems, taking a particular stance with reference to the proposals to
reform the Articles of Association, the Bank's development prospects and a more balanced representation of all member associations on the governing
bodies of the BPM Group.
The Association aims to contribute towards promoting a more participatory role for members in the life of the Bank: with this in mind,
it will make every effort, to the extent permitted by current law, to improve the recognition and appreciation of the role of member
associations. It ought to be made even more incisive and constructive, ensuring that the minority associations have an adequate presence
on the governing bodies of the Bank, subsidiaries or associated companies.
For the benefit of those who share these assumptions, The Association will continue in 2011 to plan public meetings at its head office on
issues that affect the bank's strategic alternatives and its way of being a cooperative. Study groups have been set up for this purpose to
examine internal and institutional matters, which will promote more and more qualified participation.
Assoinsieme will continue its commitment to promote dialogue, as we are convinced that comparing opinions is an opportunity to
enhance the bases of cooperation and mutuality.
The association will continue to play an active role in encouraging greater participation on the part of members and supporters at
General Meetings of BPM, also ensuring their contribution to the organisation of remote attendance at the AGM.
Address: Via G. Mazzini, 11 – 20123 Milan
Telephone: 02/80509134, 02/77003992 - fax: 02/77006149
Website: www.assoinsieme-bpm.it
The Association's by-laws and mission statement are available on the website and can in any case be obtained from the head office of the Association.
81
Non-BPM Staff Members Committee
The Non-BPM Staff Members Committee was formed in 1994 on the initiative of a group of the Bank's members coordinated by Piero Lonardi, a
professional accountant from Milan, in order to defend the interests of members of Banca Popolare di Milano and to ensure that they were adequately
represented on the Bank's governing bodies. This association particularly addressed the category of customer-members and investor-members.
The Committee has its registered office in Via Pietro Mascagni 15, Milan and operational base in Via Mazzini 11, Milan.
The nature, purpose and organisation of the Committee, as stated in its articles of association, can be summarised as follows:
 it is an association of a voluntary nature that does not seek profit;
 members and shareholders of Banca Popolare di Milano may join it.
The aims of the Association are:
 to safeguard and promote the image, role and economic and financial interests of Banca Popolare di Milano;
 to represent members of Banca Popolare di Milano, and particularly those members who are not employees, safeguarding their interests and
representing their opinions with the bank and all institutions, public and private entities, including through discussion and collaboration with all
other BPM Members and its Board of Directors;
 to promote initiatives and activities that satisfy the aims described;
 to safeguard and defend the bank's role and co-operative spirit, encouraging the participation of all its members in its corporate life, seeking
the utmost transparency in corporate communications and in the conduct of general meetings.
NAME (in full): NON-BPM STAFF MEMBERS COMMITTEE
NAME (abbreviated): BPM MEMBERS COMMITTEE
Registered office: Via Pietro Mascagni 15, Milan
Number of members at 31 December 2010: 3,825
Chairman: Piero Lonardi
82
The Committee presented the following list of candidates for the period 2009-2012 at the AGM on 25 April 2009:
 Board of Directors: Franco De Benedetti, Roberto Fusilli, Piero Lonardi and Claudio Danelon*
 Executive Committee: Piero Lonardi
 Board of Statutory Auditors: Salvatore Rino Messina (Acting auditor); Emilio Cherubini (Alternate auditor)
 Board of Arbitrators: Anna Maria Sanchirico.
During 2010, the representatives of the Committee continued the measures to encourage opening up the Co-operative to all members, organising
initiatives to facilitate registration and access to the Register of Members, participation at the AGM, increasing the number of proxies given and
eliminating obstacles to facilitate their use, putting on pressure to make the necessary amendments to the Articles of Association and corporate
governance and making proposals to raise efficiency.
The Committee will make every effort to develop initiatives that involving the largest number of members in order to rebalance the relationship with
employees and former employees and achieve the objective of ensuring that the business plays a central role in the life of the Co-operative.
Address: Via Pietro Mascagni 15 – 20122 Milan (registered office)
Telephone: 02/782554 - Fax: 02/782264
Website: www.comitatosocibpm.it
*Co-opted following the resignation of Roberto Mazzotta
83
Lombardy, Milan - The Bezzi 2 Services Centre
Registered office of ProFamily
Personnel
All policies are implemented through people who work for the company: their involvement and participation
are therefore fundamental for the success of any initiative and for the creation of value that ensures the
company a strong competitive advantage.
The presence of the employee member who participates in profits and corporate management makes the
Banca Popolare di Milano model unique: the value of our people is in fact strong by tradition, mission and
vocation. Even though the individual companies have specific peculiarities, the commitment is still to make
them all feel that they belong to the same Group.
Training, people development and the enhancement of diversity, remuneration system, industrial relations,
health and safety are the main areas in which the Group is involved. The POESIA project (which stands for
"Pari Opportunità E Sostegno In Azienda" or equal opportunities and support at work) is BPM's initiative
to promote well-being in the workplace for all Group employees.
The need to activate and define policies, improve communication and employee involvement, stimulate
innovation and sustainable growth are the key lines of strategy for 2011.
Training
The training plans of the individual companies define continuing education as a critical success factor for
business growth and the achievement of objectives, with a particular focus on:
 strengthening and supporting the commercial, professional and social skills of individuals;
 promoting actions that develop positive values and behaviours, with everyone being fully aware
of their role, responsibility, autonomy, activity and collaboration;
 supporting the development of management and leadership skills that integrate the business
culture with the ability to read the dynamics of the external and internal environment.
ID CARD
TOTAL NUMBER OF EMPLOYEES
In the network
Women
Graduates
Part-timers
New recruits
Average period of service
Average age
7,926
(94.3% of the Group)
70.5%
46.1%
25%
13.8%
2.6%
16.5 years
42.8 years
Figures relating to Banca Popolare di Milano, Banca di Legnano, Cassa di Risparmio di Alessandria, Banca Popolare
di Mantova and Webank.
Activities in 2010 featured:
 a strong focus on the professional development of newly recruited Days’ training provided
staff from the moment they are hired (information on technical,
regulatory, service orientation, cultural and behavioural issues);
Optional
 the design and delivery of training courses to support technical
26,000
20,044
Obligatory
and behavioural aspects aimed at professional and managerial
staff;
18,879
23,969
 moments designed for the evaluation of know-how acquired
during the training program, integrated with the level of skills
2009
2010
acquired, as part of the planning of professional roles;
 continuity in the defence of compulsory training as an element of
risk prevention for the company and for people in their activities;
 constant verification of the level of satisfaction, through timely and regular checks on course participants through an annual
survey of internal customer satisfaction, also involving their heads of department.
Day’s training by level
Officials 37.4%
Other personnel 59.9%
Managers 2.7%
In total, 44,000 days' training were
provided in 2010, of which 33,500
to BPM personnel and the rest to the
employees of other companies. The
decrease in training days compared
with 2009 (-3.7%) is linked to the
reduction in staff due to the Solidarity
Fund.
The final figure is also affected by
the reduction of compulsory training
after the intensive campaign carried
out in 2009 following the changes
made to the regulatory framework;
2010 was used for the completion of
the residual compulsory training and
for the introduction of training on the
New Rules on Transparency.
In particular, increased attention has
been paid to the development of management skills (2,743 training days delivered) as the key to increasing entrepreneurial vision and
strategic culture, providing the people involved with the tools to anticipate needs through awareness and to understand the economic
complexity of their work.
86
In addition to these main Group activities, individual companies have organised their own initiatives:
A series of training courses dedicated to recently appointed branch managers has been launched to support and
develop in a planned manner the technical, professional and managerial skills required for effective exercise of this role.
The key elements of the project are the introduction of a dedicated process and tutors to support the professional growth
of managers, as well as the involvement of special company structures to encourage the spread and enhancement of
BPM's corporate know-how.
Particular attention was paid to the new management training project, which has as its primary goal the growth and
preparation of a manager's colleagues, taking into account those people, including many managers, who have signed
up for the Solidarity Fund.
The management development path for branch managers has been integrated with the definition of a development path
designed to implement the cognitive and experiential learning processes for the realisation of commercial development
steps, which began in 2011. This path involves about half of the directors of CRA.
As required by the Strategic Plan, new branches have been opened, hiring experienced people locally. These people
have been included in training programs to meet the needs of individual and business customers; a training programme
aimed at spreading the spirit of belonging and cultural integration with the BPM Group has been reserved for
management.
A project has begun, starting from the definition of BPM's corporate mission and vision, that will continue in 2011 with
the mapping of roles and skills as a basis for the creation of a structured system of assessment, career paths and training
programmes.
Particular attention is paid to colleagues with disabilities, with training programmes based on approaches, methods and languages that
respond to the needs of the users. The content relates to current regulations and laws, with specific interventions targeted at people with
different types of sensory disability. Customized projects are also created for individuals to facilitate and support their integration, their
consolidation in specific tasks and/or their professional requalification.
At the end of 2010, BPM activated its third photovoltaic system installed on the roof of the Services Centre in Milan. It is a 98 KW solar panel array which will
provide power for the entire Training Centre.
Development
The process of personnel planning aims to monitor the professional growth of people with
emphasis on the development, training and enhancement of professional skills that guide
the person in the exercise of their duties throughout their entire career, in a logic of full
awareness and responsibility for the position that they hold at any one time.
The individual Group companies adopt different management tools for professional
development in relation to particular aspects of their organisation and market positioning.
Personnel
Community
BPM
group
Suppliers
Customer
BPM
group
Member
and Shareholders
Environment
87
In 2010, in-house personnel development initiatives have been mainly in the following areas:
Professional orientation
 BPM reviewed its process of insertion and orientation of new employees, obtaining as an added value a clear and
transparent sharing of the business skills that are needed.
Development paths
 During 2010, BPM extended the course on interpersonal skills introduced in 2009 to all IT staff. This course, which involved
around one hundred people, helped to improve relationships and make contact with internal and external customers more
effective;
 Banca di Legnano launched two initiatives called “Development of knowledge as a lever of emancipation“ and “Encourage your
colleagues' growth“, attended by 35 people, which had as the main side effect a greater awareness of the role of managers;
 Cassa di Risparmio di Alessandria implemented the “Valore“ and “Next“ projects, which involved 33 managers of the commercial
network, with the aim of increasing awareness and understanding of economic complexity to foster the cultural transformation
of commercial behaviour.
Performance assessment
 In 2010, Banca Popolare di Milano revised its Contribution Management System, making the following improvements:
 consolidation of the assessment process, through more explicit performance targets and the definition of appropriate
support tools;
 training and awareness exercises to increase the managers' objectivity when making personnel assessments;
 sharing the elements that help increase the effectiveness of the interview between the person being assessed and the
person carrying out the assessment;
 improvement and transparency of the assessment process.
Our experience of this approach in 2010 confirms the validity of the measurement tool and its effectiveness for operational
purposes: in particular, using this system helps improve the quality of the relationship between manager and employee and the
individual's focus on the company's goals.
 The staff development plans of Banca di Legnano only made reference to managers' reports using the “Characteristic Notes“
feature; these constitute a model for assessing the performance and potential of employees, as well as the operational
requirements when activating a career plan.
 The Contribution Management System has now been extended to Cassa di Risparmio di Alessandria, with a view to its
implementation throughout the BPM Group.
 During 2011, ProFamily will complete the definition of its organisation chart and lay down the individual professional skills that
it needs. It will then prepare professional training and development plans. It will also introduce a model for the assessment of
annual performance that will enable it to monitor the results achieved by staff in a timely and individual way.
The "Development path for interpersonal skills of IT personnel" project was recognised in the Sodalitas Social Award1 as an initiative worthy of mention,
as it is based on values such as the central role of people, sense of responsibility and respect for diversity. The initiative gained a mention in the Golden
Book of CSR.
1
88
Recognition that the Sodalitas Foundation awards to companies, business associations, industrial districts and organisations involved in projects of Corporate Social Responsibility
Remuneration System
The remuneration and incentive policies, which enhance individual corporate features, are approved by the Parent Company's
Remuneration Committee as well as by their respective Boards of Directors and Shareholders' Meetings.
For the Group's commercial banks, the remuneration system is regulated by the national contract for bank employees, which in addition
to the normal thirteen months' salary, provides for other typical items based on the national contract and, to a certain extent, on
internal union agreements. These items are usually fixed according to the employee's level, whereas in the case of new recruits, they are
awarded on a gradual basis.
Remuneration also includes a variable element (in the case of the Parent Company, 3.59% of the fixed element) which takes into account
the achievement of certain financial results on the part of the Bank and the pursuit of specific departmental objectives. The approval of the
2010-2012 Strategic Plan introduced a system of bonus incentives based on the achievement of specific objectives laid down in the Plan.
In addition to the fixed and variable elements established by contract and paid in cash, there is also an "indirect" form of remuneration
within the Company that takes other elements into account.
 Fixed portion of remuneration
 Variable remuneration
 Incentives
 Awards
 Career paths
 Analysis of career potential
 Assessment of skills
 Performance guidance
 Training
Remuneration
Training and
development
Benefit
Work
environment
(Work Life
Balance)
 BPM Healthcare Fund
 Company social clubs
 Nursery
 Company canteen
 Supplementary Pension Fund
 Banking benefits
 Organisational climate
 Communication systems
 Quality of relationship between head of
department and employee
 Work/life balance
Ares Bipiemme
With 9,884 associates, including 75 honorary associates and 26,485 relatives, in 2010 Ares Bipiemme carried on its usual activities to enrich the corporate
welfare system by making proposals with a significant economic benefit to support families through the provision of tourism, shopping, magazine subscriptions
and season tickets for public transport and a car sharing service, as well as tickets for cultural events. Summer camps for employees' children are a real help
in balancing work and family time. In 2010, water dispensers connected to the mains were installed in the refreshment areas of BPM's head offices, bringing
economic benefits to individuals and greater respect for the environment by avoiding the use of plastic bottles.
HEALTHCARE FUND
In 2010 a website was set up to improve communication with associates by facilitating reimbursement claims. Health care delivery by physicians and approved
entities continued for the 18,396 associates, health education was carried out to promote research for the early diagnosis of diseases and the provision of
assistance to non self-sufficient people through forms of targeted assistance, also with financial subsidies. Of particular note is the convention for the early
diagnosis of cancer with the Italian League for the Fight against Cancer in the province of Turin, in addition to those already active in the provinces of Milan,
Monza, Bologna and Rome.
89
Particular aspects that characterised certain Group banks during the year are as follows:
 Cassa di Risparmio di Alessandria has renewed its health care policy with the addition of new case studies (dentistry and eye
care), as well as its accident insurance policy;
 Webank increased its contribution to supplementary pension schemes;
 Banca Popolare di Mantova began a gradual alignment to BPM standards in terms of remuneration policies (improving the
transport indemnity and supplementary pensions).
Health and safety
2010 saw consolidation of the new approach to risk assessment, based on attention to the person. In addition to considering the current
conditions (workplace, equipment, facilities), the new approach also considers preventive measures.
The issues of health and safety were sustained throughout the Group with a commitment to training and specific courses in the classroom
to colleagues at various levels responsible for emergency relief activities and with distance learning courses for all staff to develop their
knowledge and awareness of risks and the preventive measures to be taken in each case.
In early 2011 BPM completed and released an updated and codified text of business processes that define the rules and procedures for
the management of risk to safeguard employees' health and safety in the workplace.
As usual, fire risk was analysed and on-site inspections continued to verify the presence of asbestos and radon gas and to test air quality.
Applying the health protocol, about 400 visits have been made in the context of health surveillance for employees classified as video
terminal operators or staff exposed to other risks. The spread of the "swine flu" epidemic was closely monitored, checking those on sick
leave, though none became critical.
The investment in high-tech solutions to increase security has led to stronger defence measures at the branches.
Cooperation with the Police and the Prefectures continued with the signing of protocols of understanding for the prevention of bank
crime. BPM signed up for seven new protocols in 2010.
90
Each Group Company distinguished itself with different activities and initiatives for the promotion and protection of health and safety.
Through a circular to promote the organisational welfare, BPM recalled some of the more important initiatives available
to the staff: the prevention of post-robbery trauma and the rules on maternity leave, the names of the Workers' Safety
Representatives (WSR), who are assigned the task of participating in the process of safeguarding and protecting health
and safety, which should lead to improvements in the working environment.
The main activities promoted by Banca di Legnano were: health checks for the prevention of occupational diseases or
acute technopathies, an annual inspection of all workplaces made by the Head of Prevention and the Company Doctor,
appointment and training of the Safety Supervisors to manage safety, evacuation and first aid. Cancer prevention for
female staff continued in 2010.
The Board of Directors of Cassa di Risparmio di Alessandria identified the Head of Personnel as the "Manager
Responsible for Health and Safety." The latest regulatory updates included in CRA's Risk Assessment Document include:
assessment of the risk of robbery, assessment of risk from exposure to artificial optical radiation at work and assessment
of the risk of work-related stress.
Webank updated its Risk Assessment Document and made an analysis of work-related stress risk, preparing the
appropriate documentation, as required by current legislation.
Prevention of post-robbery trauma stress
As part of effort to promote welfare and in accordance with Legislative Decree 81/2008, a project
called “Let's talk about robberies“ has been created to help network colleagues understand the
psychological and behavioural aspects of robberies. A brochure has been prepared to illustrate in
simple language what are considered the “normal“ psychological and physical reactions to a dangerous
situation. The aim is to help people react so that they can return as quickly as possible to a situation
of well-being. In 2010 the initiative was presented to HR managers, Workers' Safety Representatives
and Union Representatives of Banca Popolare di Milano, Banca di Legnano and Cassa di Risparmio di
Alessandria. In January 2011, the initiative was extended to Banca Popolare di Mantova.
1
Improvvisamente ti senti sottosopra.
Parliamo
di rapine
For years, there has also been a psychological support service. It was originally designed to provide
support for people in difficulty; now it is structured to help the heads of organisational units to facilitate
processes of integration when managing their colleagues. In particular, it works actively with all areas of the Group's commercial banks
to promote ways of maintaining well-being at work and appreciating diversity.
Number of people who have used the psychological support service in 2010.
Banca Popolare di Milano
107
Banca di Legnano
2
Cassa di Risparmio di Alessandria
3
Total
112
1. The “Let's talk about robberies“ brochure: This is a Group initiative to help people who have suffered a robbery. The emblem of the turtle upside down represents the state of "bewilderment"
that an event like this can cause in those who suffer it.
91
Industrial relations
2010 was marked by intense activity in industrial relations mainly devoted to the signing of an agreement for operations of a purely
corporate nature, such as the merger of Bipiemme Private Banking SIM with Banca Popolare di Milano, the sale by BPM of Anima SGR
SpA and the interest acquired in AM Holding, a new primary group in the asset management industry, the merger of WeTrade SpA with
Webank SpA and the sale of the custodian bank activity to BNP Paribas Securities Service, Milan.
In addition to these aspects, industrial relations focused on restructuring and rationalization of activities and structures within the Group's
three main banks with a view to cost containment and the freeing up of resources for other duties: consolidation of branches to
reorganise the Group's territorial presence; centralization at the Parent Company of certain administrative activities of Banca di Legnano
and Cassa di Risparmio di Alessandria, as well as the outsourcing of operational management, production and printing of the monitoring
and systems department (IT).
The teleworking contract has been renewed.
At the end of 2010 the level of unionisation of employees at the Group's banks was 89.1%.
92
2010
2009
Days worked per head
214.0
210.3
Overtime hours per head
14.2
12.3
Hours accrued in the time bank per head
7.8
7.4
Days of sick leave per head
9.3
9.0
1
Involvement of the personnel
Again in 2010, we paid great attention to the involvement of employees through a series of initiatives.
Of the Group's various initiatives, there was a convention called “The pleasure of acting together“ dedicated to managers for the
dissemination and sharing of the guidelines of the 2010-2012 Strategic Plan. The various Group companies distinguished themselves in
the following ways:
 For Banca Popolare di Milano the AGM has always been the best occasion for getting involved in the life of the Bank (see the
chapter “Members and Shareholders“).
 As usual, Banca di Legnano and BPM organised a day of presentation for new recruits and
an awards ceremony for staff who had reached 25, 30 and 35 years of service.
2
 Webank organised a meeting to present the merger with WeTrade. It also created an internal
web community called Brainville to enable employees and other staff to contribute in a
simple and informal way to the development of ideas at Webank.
 Banca Akros launched an innovative path of internal communication to educate employees
on customer-related activities. The purpose is to achieve a better understanding of customers
and their needs in order to acquire a greater awareness of the financial services being
offered. The meetings are held once a fortnight and feature in-house speakers.
 ProFamily arranged a conference with its agents to explain the operational and commercial development programmes. It has
also organised other initiatives such as: Christmas and Easter presents for the children of employees and summer camps and an
office Christmas dinner with a personalised gift for each employee.
Making differences count and reconciling work/home
In 2010 particular attention was given to issues of diversity in the broadest sense, with a significant number of projects, many in
collaboration with other entities.
Diversity benchmark
In collaboration with the Diversity Management Observatory of SDA Bocconi, a questionnaire was sent to a sample of employees
of the commercial network to test awareness of the initiatives and tools provided by BPM, particularly on issues such as
flexibility, integration, communication climate, orientation towards diversity management. The tools and services to provide
support for children and the use of part-time employment were again confirmed as strengths, while integration policies and
1. The pleasure of acting together: a major convention in February 2010, ably compèred by Daria Bignardi, brought together many members of staff of Banca Popolare di Milano with a special
appearance by Renato Mannheimer.
2. Material presented during the new recruits' day
93
practices regarding orientation to diversity still require an effort in
terms of communication and information sharing. In general, people
have a high perception of what the company offers to otherwise-abled
members of staff.
% of female staff in the Parent Company
46.7%
42.1%
43.6%
44.9%
Organisation by Gender
The steady growth in female staff at BPM has led to a need to introduce
methods and tools that enhance the contribution that gender difference
can make to organisational well-being. The “Organisation by Gender“
2006
2007
2008
project, funded by the Ministry of Labour and Social Policies and
supported by the Province of Milan, will enable us to start a change
process in line with the principles laid down the Charter of Equal Opportunities in support of diversity.
Distribution by age bracket
100
0.9%
0.8%
24.6%
25.8%
Over 60 years old
From 50 to 59 years old
From 30 to 49 years old
50
0
Younger than 30 years old
65.6%
64.5%
8.9%
8.9%
2010
2009
46%
2009
2010
Differences in age: “Working Age“ workshop
Banca Popolare di Milano took part in the “Working Age“ workshop
sponsored by Fondazione Sodalitas on age difference in business. It
focused on the management of generation Y (young people born in
the '80s), those over 50 and inter-generational dialogue, which is an
important hub for the transfer of skills from senior to junior staff. In
particular, the sharing of best practices already active in the company
and the analysis of the two groups' motivations are the starting
point for further tests on the management and enhancement of age
differences.
Otherwise-abled people: "Work & Disability" workshop
BPM and Sodalitas promoted the creation of a permanent workshop on “Work & Disability“ to help disabled people enter
and remain in the world of work. The companies involved, engaged on the management and development of disability, take a
pro-active role in the integration of otherwise-abled people in the workplace, by lobbying national and local institutions, and by
maintaining a constructive dialogue between companies and associations representing otherwise-abled people.
In early 2011, ProFamily started a project for the integration of otherwise-abled people in collaboration with a consulting firm
accredited by the Province of Milan.
94
1
SODALITAS DAY
On 26 April, a session on “The companies supporting the
value of people and work“ was held in the Sala delle Colonne
of Banca Popolare di Milano as part of the celebrations of
Fondazione Sodalitas' 15th anniversary. BPM also brought its
experience and demonstrated its commitment to support its
staff presenting the following initiatives to a vast audience: The
POESIA Project, the Code of good conduct for the prevention
of discrimination, the Charter of Equal Opportunities and
Equality at Work, “The Garden of Bez“ (company nursery)
and flexitime granted to employees to help reconcile work
and family life.
2
Enhancement of parenting
In September 2010 a new section of the “The Garden of Bez“ was opened to admit more children and allow parents to organise their
work better. This expansion took place thanks to the contribution of the Lombardy Region. The nursery, which can now admit up to
72 children, currently has 41 children of employees and 22 external children (7 under an arrangement with the Municipality). Surveys
again reflected the high degree of satisfaction with the service provided, the pedagogical quality and the care and attention given to
the children's nutrition.
In the Christmas holiday season, the nursery hosted around ten children enrolled in previous years and now attending the kindergarten.
Lastly, “The time of growth“ meetings, a series of initiatives to help parents grow together with their children, were successfully extended
to all of the Group's staff.
The nursery is getting ready for environmental certification, in line with BPM's attention to the environment.
It is worth noting that Banca di Legnano has continued to convert full-time contracts to part-time contracts for female staff returning after
maternity leave; in addition to their letter of appointment, new mothers are also given a plan for remote professional development,
encouraging independent and personalised learning.
1. The Garden of Bez: the company nursery based at the BPM Bezzi1 Services Centre
2. Brochure distributed during the Sodalitas Day
95
Apulia, Vieste - Panoramic view from the beach
96
Suppliers
To achieve better results in terms of service quality and to handle relations with suppliers better, in
2003 the BPM Group introduced a Central Buying Office which over the years has developed new
professional skills using more and more sophisticated procedures.
Initially only at the service of the Parent Company, the Central Buying Office has progressively extended
its radius of action to include all of the Group's commercial banks.
We aim to establish clear and lasting relationships with our suppliers. The fact that these relationships
are based on reciprocal collaboration means that disputes are extremely rare.
Mission and guidelines of the Central
Buying Service
Transparency and equity in the selection process
When dealing with suppliers, the Central Buying Office believes that respect for the environment and
for current rules and regulations are values of primary importance to create a constructive partnership
that is mutually advantageous for both parties involved.
Supply contracts
All supplies are adequately formalised and documented: for this, extremely detailed contracts are used
with explicit references to laws on the protection of health and safety in the workplace (as per Decree
81/2008) and a clause allowing the contract to be cancelled in the event of discriminatory policies,
violations of workers' rights or non-compliance with environmental legislation. On the other hand, all
suppliers are paid according to the contractual rules, so disputes are minimal.
ID CARD
TOTAL NUMBER OF SUPPLIERS
about 2,700
Certified (*)
28.4%
Customers (*)
66.2%
With a relationship of more than 5 years (*)
10.9
Resident in North-West Italy
74.5%
Suppliers of services
70.9%
Figures relating to Popolare di Milano, Banca di Legnano, Cassa di Risparmio di Alessandria, Banca Popolare di
Mantova and Webank, except those with an asterisk which refer only to the Parent Company. Common suppliers
are shown under each bank.
97
1
Personnel
Relations with suppliers
All suppliers that comply with the requisites established by the Central Buying Office are
given the chance to compete for the provision of products and services, also through the
use of on-line tenders that considerably widen the possibility of access to suppliers and
guarantee transparency, fairness and speed in activating negotiations.
Community
BPM
group
Suppliers
Customer
BPM
group
Member
and Shareholders
Environment
Relationship with suppliers
The objective of the Central Buying Office is to obtain the best market conditions for a certain quality when buying goods and services,
while respecting all company rules and regulations, optimising the time it takes to complete the procurement process.
Last year, the Central Buying Office consolidated its use of the electronic platform which interacts with the market and makes it possible
to deal with an increasing number of suppliers. Those wishing to submit an application for the supply of products, goods and services
can use the Pre-qualification Service on our website; if the offer is in line with the needs of the Group and the technical and economic
suitability of potential suppliers is confirmed, they will be contacted by the Central Buying Office.
As usual, suppliers are required to self-certify compliance with existing environmental legislation and laws on the protection of health
and safety. In this regard, with reference to the Parent Company, there has been an increase in the number of suppliers with at least one
certification (over 400 at the end of 2010, 28.3%, up by 12.6% on 2009) and their turnover accounted for more than 60% of the total.
In 2010, with the aim of further consolidation of relations with our suppliers, we also started an effort to develop those in the province
of Milan who are not customers. This initiative, which will continue to a greater
Suppliers of the Parent Company
extent in 2011, contributed to a 33% increase in the number of supplier-customers
of the Parent Company (934 at the end of 2010, 65.9%).
65.9%
2009
50.6%
2010 The relationship with suppliers has been managed in compliance with the
guidelines laid down in the SIRF Project (“Sostenibilità e Integrità nei Rapporti
con i Fornitori” or Sustainability and Integrity in Relations with Suppliers) which
28.3%
25.6%
Banca Popolare di Milano signed up for in the past, which requires fairness in all
dealings based on a relationship of mutual satisfaction.
Certificates
Customer
1. “La Cascinetta“ farm at Vallieri: “La Cascinetta“ farm, which produces and sells poultry, is only one kilometre from the WWF oasis of Vanzago. It is a quiet place to have a meal with typical dishes from
the local cuisine and a shop that sells its own cheese, rice and honey directly to the consumer. The farm has been a customer of the BPM Group since the early '90s
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2. The “Velasca Tower“ skyscraper in Milan: the oblique beams which support the wider upper floors give an unusual aspect to the skyscraper, which the Milanese nicknamed the "skyscraper
with garters". It is still a symbol of architectural courage and ability to experiment, undisputed characteristics of the Lombard capital
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Lombardy. Legnano
Photo: Bernocchi Cycling Cup: this is a cycling road race that has been held ever since 1919. It is dedicated to Antonio Bernocchi, an Italian entrepreneur in the textile industry. Banca di Legnano
was initially the main sponsor, then three years ago its name was added to that of the race. The top managers of the BPM Group also attend this event.
1
Community
We have always chosen to strengthen our links with the local community, with which we maintain
a continuous and long-established working relationship, supporting economic activities and cultural
associations, foundations and government agencies.
In recent years we have added other forms of assistance to the traditional direct financial support,
to better define our role of service and connection between the many different realities, a logic that
combines “being profitable“ with “being proficuous“.
ID CARD
NUMBER OF INITIATIVES FINANCED
Donations and gifts
AMOUNT OF DONATIONS AND SPONSORSHIPS
about 500
68.5%
Over 7 million euro
Donations and gifts
27.6%
In the cultural sphere
60.6%
Milan and Province of Milan
73.1%
Donations and sponsorships
Projects being funded by sector of activity
Solidarity 13.2%
Culture 60.6%
As foreseen in their Articles of Association, Banca Popolare di Milano
and Cassa di Risparmio di Alessandria have the chance to support the
territories to which they belong by allocating part of the previous year's
earnings to social and cultural initiatives.
The BPM Group confirms its attention to the community by acting
concretely to support not only major cultural, scientific and humanitarian
institutions, but also small local entities, in many cases continuing longstanding relationships.
Art, culture, sports, education, health, solidarity: many areas of action to
which the Group has focused its contribution in 2010. Despite the difficult
economic climate, our donations and sponsorships exceeded 7 million
euro, about 2 million euro more than the previous year, concentrated in
the territories served by the Group.
Sport 9.2%
Health 7.6%
Education 4.1%
Scientific research 1.5%
Other 3.7%
Projects being funded by geographical area
Rest of Lombardy 6.9%
Piedmont 5.0%
Lazio 6.2%
Other regions 5.9%
Rest of the world 2.9%
Milan and province 73.1%
Personnel
Community
BPM
group
Suppliers
Customer
BPM
group
Member
and Shareholders
Environment
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Among the most significant sponsorships and donations made by BPM, the following are mentioned in order of size:
Donations and gifts
ABC Zambia Onlus
Amref Italia
Amici Centro Dino Ferrari Policlinico
Amici Gastroenterologia Granelli
Associazione Dialisi Ospedale L. Sacco
Associazione Abbazia Mirasole
Associazione Giovani Diabetici
Associazione Serenità
ATTIVEcomeprima
AVSI – Associazione Volontari per il Servizio Internazionale
(international service volunteers)
ASPHI - Avviamento e Sviluppo di Progetti per ridurre l’Handicap mediante l’Informatic
(start-up and development of projects to reduce handicap by means of IT)
Celim Volunteers in the World
Church of Santa Maria alla Porta
Comunità Nuova
Fondazione Aldo Aniasi
Fondazione Anna Villa e Felice Rusconi
Collegio Universitario di Milano
Fondazione don Gnocchi
Fondazione E.T.N.A. – Excellence Through Newest Advances
Fondazione Famiglia Legnanese
Fondazione Rui
Fondazione Russia Cristiana
Fondazione Slow Food Biodiversità
Fonos Orizzonti Sereni
Istituto Mario Negri
Istituto don Luigi Sturzo
Istituto dei Tumori
Medici Volontari Italiani
OASI srl
Opera don Orione
Parrocchia San Martino in Greco
Piccolo Cottolengo
Università Bocconi
Sponsorships
Teatro alla Scala
Fondazione La Triennale
Associazione Cultura Lavoro
Orchestra Verdi
Pallacanestro Varese
Fondazione Hangar Bicocca
Fondazione Sussidiarietà
Pallacanestro Olympia - Milano
Stramilano
Fondazione La Triennale
Scripta Manent Edizioni - Volume Bandiera Madre
Church of Santa Maria alla Porta - restoration work at S. Maurizio and
Monastero Maggiore
Modern and Contemporary Art Gallery in Gallarate
Fondazione San Benedetto
Municipality of Bollate - Festival di Villa Arconati
Rassegne SpA - Associazione Amici di MiArt
Fondazione Museo Poldi Pezzoli
FAI – Fondo Ambiente Italiano
Festival Pianistico Internazionale Arturo Benedetti Michelangeli
Municipality of Milan
Fondazione Banco Alimentare (food bank)
Progetto Pinacoteca di Brera
Serate Musicali
Fondazione Emergency
La Cappella Musicale
21grammi Srl
Fondazione I Pomeriggi Musicali - La Milanesiana
Municipality of Margherita di Savoia (Barletta, Andria, Trani)
for cultural activities
AIRC – Associazione Italiana Ricerca sul Cancro
Municipality of Vieste - for cultural activities
Prima Show Srl - concert by Charles Aznavour
Fundraising for the restoration of the Duomo di Milano
AI.BI. Amici dei Bambini
A.S. Masseroni Marchese - youth sports initiatives
Fondazione Pier Lombardo
Fondazione per l’infanzia Mc Donald
Associazione Culturale Borbonica Sotterranea
Fondazione Rosselli
Centro Furio Jesi
Fondazione Cineteca Italiana
S.G.Pro Patria
ASD Femminile Inter
1. Stramilano: ever since the first edition of the Stramilano (the Milan Marathon), Banca Popolare di Milano has been an official partner of this important event, which combines sport and socialising
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Stramilano is an event in which BPM is particularly involved, giving it support ever since the first edition; it is a sports event with the
presence of international athletes and considerable participation on the part of amateurs.
The Bank also supports the Coppa Agostoni, an historical professional bicycle race that takes place in the Brianza area north of Milan.
At the end of December, the Bank supported a musical show entitled “We are all one: soundscapes from the Arctic“ sponsored by
Survival, a non-denominational, non-partisan charity committed to raising awareness and fighting the injustices suffered by indigenous
peoples around the world.
Banca di Legnano's interventions can be broadly categorised in two areas:
 those of an institutional nature, which include sporting events, such as the Palio di Legnano, the Banca di Legnano-Bernocchi Cup
Grand Prix (an important professional cycling race that is a symbol of the city), sponsorship of musical and theatrical festivals of
regional significance;
 those aimed at local initiatives, including: sponsorship of the "I Legnanesi" theatre company, sponsorship of “Jazz Emotions“
concerts, in collaboration with the Milan Conservatory and the Nicolò Paganini Musical Association, sponsorship of the exhibition
“Art and Music in the Groane Park 2010“.
Cassa di Risparmio di Alessandria supports mainly small and medium sized local entities and associations.
Among the initiatives in 2010, together with the Fondazione Cassa di Risparmio di Alessandria, there was the publication of a book,
“The Years of National Unity“, which is the third volume in the trilogy entitled “Alessandria from the Risorgimento to the Unification of
Italy“, completing the studies and research concerning the territory of Alessandria.
Support was also given to:
 The Diocese of Alessandria, to provide small subsidies to families in difficulty;
 Associazione Partita del Cuore, to organise a football match to raise funds for the people of Haiti;
2
 CNA Etica e Solidale to which the cost of traditional Christmas gifts was donated for the purchase of
food and medicine for distribution in Zagher (Eritrea);
 LILT - Italian League for the Fight against Cancer - Provincial Section of Alessandria, to organise a
concert to raise funds for research;
 ATP Challenger Alessandria to sponsor an international tennis tournament.
ZZ
A
In terms of donations and sponsorships, the policy of Banca Popolare di Mantova is mainly to transmit the
values of history and culture.
The most conspicuous donations were in favour of Mantua's Museo Diocesano F. Gonzaga, with sponsorship
for the publication of the “Limoges Painted Enamel“ catalogue and
3
presentation of the book to the citizens at a press conference, and
Festivaletteratura to sponsor the event “The Library of Ennio Flaiano“
O
AM
I
held in the Palazzo dell’Agricoltura, the Bank's new head office.
AM
Other donations, also decided on the basis of proposals from the branches, cover broader areas,
such as musical and sporting events, and help to support projects and initiatives of local associations.
HE
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LA
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Mantova 8/12 settembre 2010
LA BIBLIOTECA
FLAIANO
1, 4. The Palio di Legnano: this takes place on the last Sunday of May and commemorates the battle in 1176 won by the towns of the Lombard League over the Emperor Frederick Barbarossa.
Through Banca di Legnano, the BPM Group has always been one of the main protagonists of this important event.
2. Limoges Painted Enamel: poster of the catalogue
3. Literary festival in Mantua: the BPM Group was the main sponsor of The Flaiano Library during this major literary festival. The exhibition allowed the public to admire the entire library of Ennio
Flaiano, one of the leading figures of Italian literature and cinema
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The main beneficiaries are listed below:
Donations and gifts
Sponsorships
Associazione Virgiliana di Bioetica
Università Cattolica – Piacenza branch
Gruppo Famiglie di Poggio Rusco
Fondazione Università di Mantova
Associazione Scuola senza Frontiere
ARCI Mantua
Associazione esercenti asolani
Consorzio Agrituristico Mantovano
Associazione Edera Onlus
Podium Team Volley - sports club
Associazione S. Margherita
Pego Volley – sports club
Istituto Comprensivo di Suzzara
Caseificio Razionale Novese
Asilo Santa Maria
Event & Congress Organisations srl
Circolo ricreativo Magnacavallo
Azienda Ospedaliera Carlo Poma
Club del Fornello, Mantua branch
Società Lombarda Chirurgia Plastica
Confagricoltura Mantua
Gruppo Sportivo Porto Mantovano
Prospecta Group srl
In order to build up its social identity and ethical profile, Webank has extended its corporate social
responsibility from the company to the employees who were personally involved, making them the
protagonists of the various initiatives being promoted.
The commitment on this front for 2010 was the support for the “On the girls' side“ project of
the Children in Crisis Association, which saw various actions including a donation to support the
program of scholarships for higher education of a group of girls in Tanzania. However, the company's
commitment goes beyond a simple donation. A number of Webank employees travelled to Tanzania
to witness the project in person; they then produced a calendar which they sold to raise more funds
for this charity.
Other sponsorships included:
 Teatro Ciak
 Pallavolo Piacenza
5
o!
Jamb
2011
Un’ avventura di dieci giorni che fa bene tutto l’anno.
The largest share of the maximum amount allowed by the rules of Banca Akros on donations and sponsorships was given to initiatives,
entities and non-profit organisations working to protect and support poor children and in favour of their education.
5. Webank and "Jambo Team": this involves a journey by a group of Webank employees to support Children in Crisis as part of an important project for girls in Tanzania and their education. Based
on this experience, they created a calendar with all the proceeds from sale being donated to charity
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Initiatives for the community
The following are the main initiatives broken down by area of intervention.
Solidarity
TERREMOTO AD HAITI
AGIRE e BPM intervengono per portare soccorso alle popolazioni
colpite dal terremoto.
ANCHE TU PUOI DARE UNA MANO ad AGIRE insieme a BPM!
Fai la tua donazione…
- presso tutti gli sportelli BPM
(c/c intestato ad AGIRE - IBAN IT47U0558403208000000005856
causale Emergenza Haiti)
- presso tutti i Bancomat Quimultibanca
(Menù - Pagamenti e Ricariche, digitando il codice 111)
- andando su www.faresolidale.it
The Group has answered the call of AGIRE (Agenzia Italiana di Risposta alle Emergenze Onlus) to support
the population of Haiti after it was hit by a devastating earthquake, managing in a very short time to activate
a series of initiatives to inform and raise public awareness and to multiply the number of fundraising channels:
messages in the branches, on the ATM network, on websites, personalised e-mails to corporate customers.
Enormous solidarity on the part of customers made it possible to collect more than 350,000 euro by bank
transfer only, to which the donations of Group employees added more than 60,000 euro.
Following the earthquake in the Abruzzo region in April 2009, the Group collected 280,000 euro which was used to support
three projects:
 the construction of a metal bridge for people to reach the new school building in the town of Fossa;
 re-organisation with furniture for the study and reading rooms and all the necessary equipment for classrooms and
for the "Cardinal Carlo Confalonieri" library for the city of L'Aquila;
 classroom furniture for the new Istituto Superiore di Scienze Religiose for the city of L'Aquila.
In July, BPM worked together with FC Internazionale in aid of “Inter for Emergency“: for two weeks, in the Sala
delle Colonne at the head office of the Bank, Inter fans had the opportunity to be photographed next to the
Champions League Cup recently won by Inter, making offers to help build a Paediatric Centre for Emergency in
Goma, located in the eastern part of the Democratic Republic of Congo.
The generosity of the Group and its employees is manifest not only in extraordinary events.
In 2010, the ARES BPM Co-operative again raised more than 145 thousand euro through its “Solidarity at
Christmas” initiative, thanks to the contributions made by its members – employees, pensioners and their families
– in addition to that made by BPM.
The funds raised supported various projects that are listed in the following table:
1. Inter for Emergency: in the Sala delle Colonne of Banca Popolare di Milano, last summer the Inter fans were able to take a souvenir photo with the Champions League Cup. A unique charity
initiative, with the proceeds going to build a Paediatric Centre for Emergency in the Democratic Republic of Congo
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Association
Project/purpose
Intervention area
Banco Alimentare
Preparation and distribution of 400 Christmas food parcels
for needy families indicated by employees or retired staff.
Italy
VISPE – Volontari Italiani Solidarietà Paesi
Emergenti
Construction of a well for farm work
Burundi - Bujumbura - Kanyosha area
ABC Zambia
Construction of a building comprising a flat, two dormitories,
a laundry, a kitchen, a chapel, bathrooms and showers
Zambia – Southern province – Mazabuka
Missioni Congregazione
Suore Mantellate
Purchase of furniture for the classrooms of a primary school
Uganda – Kisoga
SOS Bambini Onlus
Construction of two toilets in a family house for disabled children Romania - Sight State Centre for Children
SHIS Centro Diurno Piccolo Principe
Renovation of the Educational Centre to allow proper conduct
of activities with children
Albania
CBM
Construction of five wells
Ethiopia - Amhara Region, North Wello zone
- Guba Lafto
ACRA – Associazione di Cooperazione
Rurale in Africa e America Latina
Restructuring of schools in two villages.
Ciad – Regione Moyen Chari, Dipartimento
della Grande Sido, villaggi di Ngakorio e
Kokouroundja
Lastly, also worth mentioning is the traditional fund-raising among the staff of Cassa di Risparmio di Alessandria to
support Telethon.
ecolab
As part of projects for the occupation of disadvantaged people, Banca Popolare di Milano has been collaborating
with Ecolab, a social co-operative involved in the design and production of fashion accessories and merchandising.
Ecolab was born in Milan's San Vittore Prison and involves people in detention and the disabled, in collaboration
with the Employment Offices of the Province of Milan. The collaboration with BPM resulted in the creation of
merchandise used in many of the Bank's promotional initiatives.
The attention that Banca Popolare di Milano has always had for the
Third Sector is reflected in Faresolidale, a service reserved for the world
of non-profit organisations; for more than a decade it has constantly
developed its traditional relationship with the territory by creating a
meeting point and point of exchange between non-profit and profitmaking entities, i.e. associations and businesses, volunteers and donors.
The service offered by Faresolidale has been the focus of participation in
the Fund Raising Festival, an event dedicated to operators of non-profit
sector which BPM sponsored for the third year running.
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Training and education
In collaboration with the main universities in Lombardy, BPM gives young students the opportunity of internships and supports them
in writing their thesis. Young people are given the chance to experience an organised working environment, applying and mastering
what they have learnt in their studies and refining skills that can be useful in the world of employment, such as team work, willingness
to listen and openness to interpersonal relationships.
Our contribution to education is represented by the opening to the public of the Historical Archive of Banca Popolare di Milano, with
thesis-writers and researchers being the main beneficiaries.
In collaboration with the PattiChiari Consortium and the non-profit association Junior Achievement, BPM organised at the Bezzi
Auditorium the Financial Education Week, an initiative that aims to give children the basic elements of economics. Between November
and December it involved 8 schools for a total of about 400 middle school students.
The educational content, the interactive setting and the ability of the bank experts to entertain children all contributed to the success of
this initiative, as did the attention paid by the children, who were motivated by an environment different from that of school.
For the seventh year, “Keep an eye on me”, an innovative school diary, has been distributed in nearly 200 schools throughout Italy
(totally free to schools thanks to advertising by local entities); this was particularly appreciated for the 32 pages that each school can
customize by including information all about itself (training plan, school regulations and absence justification booklet).
BPM participated in the project as exclusive sponsor for the banking sector, including in the diary sections dealing with banking and
financial matters in a playful way, stimulating the interest of young people and their families.
Webank carried out an initiative called “La banca tra i banchi” (The bank among the benches, i.e. school desks), a socialeducational project created to raise awareness among young people on matters of economics and finance, providing helpful tools to
develop a conscious approach to money management.
This initiative, during the 2009-2010 school year, involved high schools (Fourth and Fifth Grade) in four Italian regions: Lombardy,
Piedmont, Veneto and Apulia.
The bank among the benches promoted “Today, I count“, a scholarship aimed at all of the pupils at the schools involved, with the
guidance and support of their teachers, who wrote an essay summarising the issues and topics covered during the lessons, i.e. savings
in all its forms. The award ceremony was held at the BPM's Conference Hall in Via Massaua.
For the fourth year, Banca Akros was the promoter of the initiative entitled “Giovani di sana e robusta Costituzione” (Youngsters of
sound and robust Constitution), a series of encounters to get to know the historical and ideological origins of the Italian Constitution,
as well as the principles that it established. This project obtained patronage from the Offices of the Prime Minister and the President of
the Republic, the Lombardy Region, the Province of Milan and the Municipality of Milan.
1. The Bourbon Tunnel: this is a splendid underground tunnel made entirely of yellow Neapolitan tuff, located on the southern side of the city of Naples, which goes through Mount Echia. The tunnel,
which was created for military purposes, met along its path the network of tunnels and cisterns linked to the ancient Carmignano aqueduct (1627-1629), which served the city of Naples. BPM contributed
towards the installation of the lighting system, making this extraordinary underground world accessible to the general public
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2
3
4
Sustainability and environment
New activities and initiatives were added in 2010, in addition to those performed for years, in line with the attention and awareness to
environmental issues that we are currently developing.
Maintenance and improvement work continued on the park in Via Massaua which surrounds the Bezzi Services Centre. The park is open
not only to BPM employees, but also to residents of the district.
This greenery is much appreciated by the local inhabitants who frequent it. The park has also become a meeting place for the “PEDIBUS
- the school bus that goes on foot“ project, the initiative of the Municipality of Milan which allows children to walk to school, accompanied
by volunteers.
We have strengthened our partnership with Parco Nord Milano, where in 2010 we completed the reforestation of the “BPM Wood“ in
Via Cesari. This was a result of compensating the CO2 emissions of certain sectors of the Bank and of the BPM Training Centre which,
in its role as a hub for dissemination and cultural exchange, becomes a vehicle for communication and promotion of environmentally
friendly behaviour.
To create value for the communities that live in the area, we also produced a series of initiatives in collaboration with the Park:
sponsorship of park maps;
sponsorship of the competition sponsored by the Lombardy
Region "In the parks for a year", reserved for schools in
Lombardy, giving to the three winning classes a stay in a
protected area of the region;
 participation with the Geodesic Dome at the Biodiversity Festival
in June, and at PINC (Parco in Comune or Park in the City), in
September. On the latter occasion, the Geodesic Dome - built
with environmentally sustainable materials - hosted the activities
of Microlab (science labs designed to bring kids closer to nature)
and Remade in Italy (an association that promotes recycled
products "made in Italy"), which certified the sustainability of
the project and presented some products made with recycled
materials.
5
All materials used for promotion activities are made in Italy and
comply with all labour regulations and the company's policy to reduce our environmental footprint.
During visits to the library organised as part of the Literature Festival in Mantua, we distributed a notebook and a pencil made of
recycled and environmentally friendly materials.
As also mentioned in the chapter on the Environment, Cassa di Risparmio di Alessandria carried out a project to offset CO2 emissions
by planting over 1,800 trees in the Pontestura area of the Po and Orba River Park.
2. The Park in Via Massaua: view of the park beside to the BPM Services Centre in Milan
3,4. Financial Education Week: an initiative aimed at middle and high school students
5. Biodiversity Festival: event led by Milan's North Park Consortium where the "BPM Geodesic Dome" was installed, a symbol of BPM's commitment to the environment
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Art and culture
We make every effort to enhance the artistic heritage of the territory in which we operate by contributing to its preservation and
supporting initiatives to promote it.
During the year, BPM organised or took part in numerous initiatives:
 Invito a Palazzo - public opening of offices in Milan and Florence as part of the event promoted by ABI.
 Museum of Design in Triennale – “Impara l'arte e mettila da parte – agosto gratis in Triennale” campaign for free entry to the
Triennale museum in August and a 50% discount for BPM customers for the third edition of the “Che cosa è il Design Italiano?
Quali cose siamo“ exhibition.
 Pinacoteca di Brera - special nocturnal opening during the holiday of Sant’Ambrogio, on 7 December, with free entry thanks
to the BPM's contribution.
 Church of S. Maurizio in Milan - restoration of frescoes by Bernardino Luini. Free opening to the public was possible thanks
to the help of Touring Club volunteers.
BPM and Banca Popolare di Mantova worked together with Festivaletteratura, an annual rendezvous for book lovers as well as the
inquisitive: five days of meetings with authors, shows and concerts during which culture and reading become entertainment. Italian
writers and poets, internationally known writers and most recent generation of writers take part at literary events - the key attraction and are interviewed by famous authors, journalists and experts. Special attention is paid to children, who have their own section of the
Festival with meetings, workshops and entertainment. Festivaletteratura also offers guided tours to historical and cultural heritage of the
city, theatrical moments, musical performances, seminars on art, architecture, design and illustrated books.
Given that art can also represent an important vehicle in the relationship with customers, since 2001 the open space on the top floor of
Banca Akros' head office has been set aside for contemporary art exhibitions and events. In 2010 the main event was the “Ex Novo”
exhibition, which is part of an ambitious project to promote and support the contemporary art world.
Other initiatives
For several years, BPM has taken part in an important social housing project in Lombardy. In this sense, the Bank forms part of the
“Abitare Sociale 1“ Fund, which involves the realisation of various initiatives in the city and the region. In particular, the one in Crema
and those in Milan's Via Cenni, Via Figino and Via Ferrari, for a total of about 540 apartments, 10 shops and dormitories for about 220
beds, as well as various services such as parking lots and common areas.
During the 2010-2011 edition, the catalogue of the “Counting on You” loyalty program enriched the range of awards called “Around
us“ with projects and gifts to non-profit and environmental organisations. Banca Popolare di Milano supported the “Operation Hunger“
campaign sponsored by ActionAid and continued the collaboration with AzzeroCO2. Both initiatives were made possible thanks to the
"Counting on You" loyalty program which gave the opportunity, also to customers, to transform the points accumulated through the
use of banking services to support the world of non-profit organisations and environmental initiatives. In addition, all communication
materials dedicated to the programme were offset by planting new trees in the BPM Wood.
Within NASKO, the initiative of the Lombardy Region in support of women in financial difficulty who decide not to interrupt their
pregnancy, BPM made available free of charge the prepaid cards on which 250 euro donated by the Region is loaded each month (for
up to 18 months).
San Maurizio al Monastero Maggiore: one of the oldest and most distinguished artistic and architectural monuments of Milan. The number of frescoes in this ancient Benedictine monastery, which was
suppressed in 1798, are of exceptional importance for 16th Century Lombard painting. San Maurizio can claim works by Bernardino Luini, his sons Aurelio, Giovan Pietro and Evangelista, Piazza di
Lodi, Simone Peterzano and other masters. The restoration work, sponsored by Banca Popolare di Milano, began in 1986 under the direction of the Superintendence for Artistic and Historical Heritage
of Milan
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Conferences
Again in 2010 we organised and hosted numerous conferences and public meetings in the historic Sala delle Colonne of the head office
in Piazza Meda and in the auditorium of the Services Centre in Via Bezzi.
The halls are used for activities organised internally by the BPM Group, rented out for events and meetings or made available for the
activities of various associations.
In 2010 BPM hosted more than 11,000 people during the 138 conferences held on various issues: from economics to finance, from health
to education, from social to private events.
We would mention the following in particular:
 30 years of Energy: conference to commemorate the 30th anniversary of the Energy magazine, which was attended by
representatives of Italy's political, economic and industrial world. The convention was a moment for reflection on the key
evolutionary dynamics in the world of energy.
 Knowledge and flavours: a cycle of conferences on health and nutrition, with the participation of prestigious specialists and
experts. The project, sponsored by the Ministry of Agriculture, Food and Forestry and other institutional partners, was launched
in 2005 by a desire to combine knowledge of the cultural, scientific and culinary aspects of food with a taste for nutritional
awareness. The aim is to allow the public to satisfy a desire to improve their lifestyle in a targeted, specific and consistent way,
through participation in the various activities on offer.
 School and Parenting: a series of meetings for parents on school psychology - with participation extended to BPM's employees
- that fall into a three-year listening project called "Lo sportello delle domande” (The question window). The project includes 160
hours per year with the intervention of a psychologist, split between training sessions for parents, windows for teachers, parents
and pupils, with the aim of raising schools' efficiency in achieving their educational goals, encouraging the promotion of wellness
at school.
 Savings Forum: organised by Anima SGR for its customers, the Forum aims to evaluate and analyse the performance of the
national and global economy with the opinion of Italian and international experts who have reviewed the prospects of financial
markets and the best investment opportunities.
 Exhibition by ACRA - Associazione di Cooperazione Rurale in Africa e America Latina: an exhibition held in the tunnel
that links the Bezzi offices to the canteen, in collaboration with Faresolidale. The purpose of the exhibition was to describe llama
breeding on the Potosi Plateau in Bolivia, traditionally the only real wealth of the region.
Conferences Hosted by Bpm
Sala delle Colonne
Bezzi Services Centre
Conferences organised by BPM
4
28
Conferences organised by third parties
58
48*
Total
62
76
* including meetings organised by other Group companies.
Banca Akros hosted the “Beyond the Global Crisis“ conference, which was attended by 200 guests and saw the intervention of Paul
Krugman, Nobel Prize for Economics in 2008.
1. BPM's Sala delle Colonne: a splendid internal courtyard enclosed by modern glass screens made it possible to create this attractive hall that houses important events, conferences and public meetings
in BPM's head office
112
2
3
Group employees often participate as speakers at meetings or events; among others, the talk at the Politecnico of Milan on "CSR in BPM"
and participation at the conference entitled "Diversity Management: understanding, managing and valuing diversity in the workplace";
the presence of Banca di Legnano at the “Fotovoltaico: conviene?” (Is FV worthwhile?) conference held in July at Villa Corvini in
Parabiago, where a number of employees took part as speakers on financial aspects.
Media
Communication through the media is a tool for the BPM Group to keep in touch with its various stakeholders. The objective of this activity
is to spread the news of initiatives that are of particular importance for strategic and operating purposes, as well as information on
commercial policies and financial matters. Each Group company has its own website where it explains its identity and values, presents
information on products and services, gives the main news items and press releases, as well as its financial statements and presentations of
its results. They also manage the planning, buying and optimisation of the advertising space for communication and marketing campaigns,
taking a strategic approach.
All Group companies have specific structures that handle media relations. As regards the Parent Company, the press office, which reports
to the External Relations Department, deals with the media, selects and transmits the flow of information to the media and external
communication activities of the Bank and the Group. The purpose of this activity is to disseminate corporate values and policies by means
of an ongoing relationship with management, identifying the various targets (i.e. opinion leaders, journalists, etc.). To do this, the press
office builds and maintains relationships with the media and develops monitoring activities. In addition, there is a need to define the tools
and preparatory actions to govern image and reputation, sometimes with the assistance of external providers.
Over time, daily contact with the media has built up valuable relationships based on trust.
For example, economic and financial journalists consider Webank an excellent point of reference for issues related to banking and online
trading. For this reason, in 2010 Webank appeared in national and industry publications not only through feature articles, but also as part
of an overview of the scenario, positioning itself as one of the market leaders in online banking.
Thanks to their strong territorial presence, the Group's commercial banks frequently collaborate with the local media.
Cassa di Risparmio di Alessandra, for example, continues to make the television programmes “Il Borsino“ (broadcast daily on local TV
networks) and “Oggi per Domani“ (a weekly programme). Television and radio spots promoting the Bank and its products went on the air
every day in prime time.
Banca Popolare di Mantova is working with the broadcaster TeleMantova: every day from June to December, a short spot for the bank
opened and closed the programme “Rubrica economica Radiocor il Sole24ore“, comprehensive news from the world of finance and
economics.
The policy and general commitments of Banca Akros in terms of communication are intended to guide, supervise and coordinate the
Bank's communications with the media (including public relations agencies); to manage reputational risk from the communication point
of view; to convey the Bank's values and characteristics, such as professionalism and confidentiality.
2,3. The Bezzi Auditorium: detail of the interior of the "Plenary" room on the first floor of the highly modern offices of the BPM Services Centre, in Massaua 6, Milan. View of the exterior of the hall featuring
a entirely glass wall with view over the BPM park
113
Environmental report of the BPM Group
Milan, Milan's North Park.
114
115
Lombardy. Milan, BPM Bezzi 1
Photo: photovoltaic (PV) system, panoramic view of the new solar panels covering the entire roof surface of one of the buildings of the BPM "Bezzi 1" Services Centre in Milan. The system provides
all of the energy needed to power the classrooms used for training purposes.
116
1
Environmental Report
The slogan that has appeared on the windows of the BPM Group's branches since 2010 is "Essere al
verde da noi è un valore” (Being in the green (the Italian equivalent of being in the red) with us is a
value). It is not just a sales promotion, but the representation of a fundamental value: respect for the
environment and for the territory.
In order to translate this principle into action, in the 2010-2012 Strategic Plan we have introduced a
programme of measures to reduce consumption and improve the company's sources of supply, as well
as to support the adoption of sustainability initiatives from an environmental perspective through our
commercial policy.
In addition, there were numerous initiatives to raise awareness and promote responsible attitudes in the
territory served by the BPM Group. We believe that the welfare and development that can result from
our activities should not be separated from attention to environmental impacts.
The question of environmental sustainability for a bank is very complex as it involves internal processes
and behaviours, goods and services purchased from third parties, and the services that the bank
provides to its own customers. In the first case we are in the field of direct impact on the environment,
in other cases we speak of indirect impacts.
We are aware that the road to sustainability is extremely long, but we would like emphasise that in 2010
we started a coordinated programme of initiatives whose implementation will extend far beyond the
horizon of the Plan.
1. The Bezzi 1 Training Centre
ID CARD
Heat Consumption
12.75 m3/m2
Electricity Consumption
139 Kwh/m2
Water
372,423 m3
Paper
2,034 tonnes
Waste
1,876 tonnes
Corporate Mobility
3,971,000 Km
CO2 compensation
c. 3,000 trees
planted
Figures relating to Banca Popolare di Milano, Banca di Legnano, Cassa di Risparmio di Alessandria, Banca
Popolare di Mantova, Webank, Banca Akros, ProFamily and Ge.Se.So.
117
Personnel
Raw materials
Community
BPM
group
Suppliers
Customer
BPM
group
Member
and Shareholders
!
To make our actions "accountable", i.e. measurable, we have improved the
Figures and ratios: Environment
accounting system that allows us to monitor the main items of consumption
involved in our activities and related costs and to evaluate trends based on indicators that take into
account any changes that have taken place in activities and buildings.
Environment
Energy
essere al verde
da noi
è un valore.
per un ambiente migliore.
Energy consumption is an extremely important factor in our environmental impact, as well as
being a significant cost item.
In 2010 the Group's supply of electricity produced exclusively from renewable source continued.
Consumption amounted to 139 KWh/sqm with a slight increase on 2009, when consumption per
square metre was 138 KWh. This increase can be explained, at least in part, by the high temperatures
reached during the summer of 2010, which caused an increased use of air conditioning.
2010 marked a turning point regarding the energy produced by our PV systems. A third PV system was
completed at BPM and a fourth one was approved by Banca Akros. Unlike the previous two systems
installed in 2008, which are both small (one in Foggia that lights the neon signs of the main branch and
the other in Milan to light the park surrounding the Services Centre in Via Bezzi), these are able to produce
enough energy for entire sectors of the Banks.
In particular, BPM's system on the roof of the Services Centre produces around 98,000 kWh per year and is able to provide enough
energy for cover the consumption of the Training Centre.
A technical project of great value, both for the size of the system and for its location in an ideal place to educate colleagues and to
disseminate the principles in which the Bank believes, including attention and sensitivity to environmental issues.
The system installed by Banca Akros became operational from April 2011 and produces around 55,000 kWh per year, corresponding
to the electricity needs of an entire floor of the offices in Viale Eginardo.
Paper
Paper is one of the main items of consumption in our office and communication activities.
At the end of 2010 the BPM Group's total consumption of paper came to just over 2,000 tonnes, about 200 tonnes less than in 2009 (-9%).
This decrease is partly attributable to changes in the scope of consolidation, particularly the exclusion of Anima SGR whose consumption
was partly offset by the newly formed ProFamily.
1. National advertising campaign: this is the poster that appeared in 2010 in branch windows to confirm the social and environmental commitment of the BPM Group
118
2
The rationalisation of paper communication by all of the Group's commercial banks had a significant impact on this decrease in 2010.
The following measures were taken in particular:
 the elimination of printing for all transactions where issuing a printed document is not required by law;
 continuation of the awareness campaign for customers to replace paper-based material with online communications. At the end of
2010, 43% of the current accounts at the Group's commercial banks permit online delivery of documents instead of paper ones. At
the end of 2009 this figure was about 30%;
 rationalization of deliveries of paper material by grouping together various types of communication (bank statement, mortgage
situation, etc.).
During 2010, as part of the rationalization of organisational processes, special attention was paid to the elimination of paper printouts.
In order to streamline information processes and systems, but mainly to reduce the use of paper where the information can be accessible
in electronic form, numerous paper printouts were eliminated with savings expected to be around 60 tonnes per year. We will be able
to account for the benefits of these interventions in 2011, because many eliminations became operational in the latter part of 2010.
Further eliminations were also planned during 2011 with expected paper savings of around 10 tonnes per year.
Quality of paper
The A4 and A3 paper for printers and copiers is produced with cellulose from a processing chain that is controlled and subjected to
treatments that reduce the environmental impact. In many cases, we purchased paper certified by the FSC (Forest Stewardship Council).
All advertising and promotion material is now printed on FSC-certified paper.
The FSC brand
(Forest Stewardship Council)
identifies products containing
wood from the forests managed
in a correct and responsible
way in accordance with tight
environmental, social and
economic standards
(www.fsc-italia.it).
Despite the decrease, our paper consumption continues to be high and it is clear that there is still room for
improvement. A number of interventions have been planned for 2011. In addition to these reductions, there
are also plans to eliminate printed versions of certain internal communications, to continue the campaign to
persuade customers to receive documents online and to launch an internal communication plan to raise staff
awareness about the responsible use of paper.
Paper consumption*
2010**
2009
Total paper (t)
2,034
2,230
A4 paper (Kg)
577,366
593,232
70.17
70.25
A4 paper per employee (Kg)
** Figures estimated on the basis of purchase orders
** Figures for the commercial banks, Banca Akros and ProFamily in 2010; Commercial banks, Banca Akros and Anima SGR in 2009
2. PV system: panoramic view of the new solar panels covering the entire roof surface of one of the buildings of the BPM "Bezzi 1" Services Centre in Milan. The system provides all of the energy
needed to power the classrooms used for training purposes
119
1
Water
Water is a resource of primary importance for the life of the planet and has long been mistakenly regarded
as inexhaustible. Today, water is bound to become an element of considerable importance for any business.
2
The Group's water consumption is mainly for health and hygiene purposes and the resulting waste water goes
directly into the public sewer, as the quality and quantity are similar to domestic waste.
Water consumption in 2010 has been estimated as some important equalisations still have to be received
before the final figures can be calculated.
3
4
1,3,4. BI.GI. Farm: located in the heart of the Po Valley, near Brescia. It is a stud farm authorised by the Ministry of Agriculture and is a leader in the birth and growth of foals; it also acts as a shelter for
horses in need of rest after taking part in competitive sports. BI.GI has been a customer of BPM since the early '90s
2. Internal communication campaign: poster created during the installation of water dispensers and hung in BPM's offices
120
6
5
Waste
The production of waste is without doubt one of the elements that most affect the quality of our environment.
In 2010 the BPM Group produced 1,876 tonnes of waste, more than 80% of it paper.
The total amount of waste was higher than the previous year (1,556 tonnes) partly because of the disposal of the documentary archives
of Banca 2000, now merged, which were kept in storage for the legally required period, and partly as a result of restructuring and
combining branches.
All waste paper is disposed of in a controlled way and recycled by paper mills.
Another important waste item consists of plastic. Group companies have made available numerous collection points to facilitate and
encourage the recycling of plastic waste, collecting a total of around 20 tonnes in 2010.
Reducing waste is a matter of fundamental importance to contain the environmental impact of our activities and this can also be
achieved through a change of habits in ones style of consumption.
For this reason and with the objective of reducing the consumption of plastic, a campaign entitled "L’acqua del rubinetto è buona"
(tap water is good) was launched in 2010. In October special taps were installed in the Piazza Meda and Viale Bezzi offices that are
able to filter tap water and ensure that it is fit for consumption without using plastic bottles and without the environmental costs involved
in the production, storage and transport of the water.
In only three months, this initiative reduced the number of plastic bottles sold by more than 16,000.
Number of bottles of water sold*
2010
2009
Saving
Viale Bezzi offices
222,136
225,985
-3,849
Piazza Meda offices
129,406
141,978
-12,572
Total
351,542
367,963
-16,421
Figures relating to Banca Popolare di Milano, Webank and ProFamily.
* Source: Argenta Group, provider of water bottles
5,6. Vesti Solidale: non-profit social cooperative based in Cinisello Balsamo, which since 1998 provides environmental and social services to individuals, focusing on employment opportunities for
the disadvantaged. It has been a customer of BPM since the end of the '90s
121
Zero CO2 emissions
Changing habits and, more generally, achieving a broader awareness about environmental issues, are processes
that require several years, whereas reducing emissions is a priority that cannot be postponed.
For this reason, in 2010, we continued to offset BPM's CO2 emissions and began to do the same for Cassa di
Risparmio di Alessandria.
Offsetting is not only important in terms of the reforestation needed to compensate for emissions, it is also a process of lifestyle analysis
and responsibilisation. The collection of figures on the activities that need to be offset becomes in itself a way of generating information
and greater awareness on the part of employees.
During 2010, Banca Popolare di Milano offset all of its emissions in certain activities and areas: the 2010 Members' Meeting, the Training
Centre, some offices of the Milan head office and 15 branches surrounding Milan's North Park.
The result was the planting of 700 trees, in addition to the 400 planted in 2009, in Milan's North Park, in the Via Cesari wood and in the
Grugnotorto area, a footbridge that connects the northern areas of the park with neighbouring districts. The new wood is made up of
trees and shrubs selected to enhance the environmental value of the park and increase its biodiversity.
Offsetting by Cassa di Risparmio di Alessandria, which has chosen to compensate all of its CO2 emissions, involved a reforestation
project in Piedmont. In particular, a wood of native species was planted (a total of more than 1,800 trees, including white poplars, elms,
maples, cherry, hawthorn and hazel) on a dozen acres of wasteland in the Po and Orba River Park in the Pontestura area west of Casale
Monferrato.
All our offsetting operations were planned and implemented in full respect for the biodiversity of the area of reforestation, in partnership
with AzzeroCO2, a company founded by Legambiente, Ambiente Italia and Kyoto Club.
122
1
Green finance
Building a sustainable future cannot be realised without reconciling economic growth and innovation with the environment.
In this context, a bank can play an important role in funding or investing in projects that generate positive environmental side-effects or
by providing solutions that meet the various needs of those who choose to invest in a cleaner world.
Our efforts focus mainly on the question of energy, where our commitment has been consistent with national and EU energy policies
that aim to achieve significant and progressive reductions in CO2 emissions as set for EU countries.
In particular, we operated in the following areas:
 Project financing: the Group took part in projects mainly in the field of renewable energy sources, namely in PV, biogas and
wind power, both in a consortium with other lenders and as the sole funder, acting as a real partner in these initiatives.
 Investments in closed-end funds supporting strategic projects for leading Italian companies in the renewable energy sector.
 Products for individuals and businesses, including medium-to long-term leasing and personal loans at advantageous rates.
In particular, we offered the following products to our customers:
Ecology Package: Online funding (dedicated to consumers, businesses and condominiums) to support targeted investments to improve
energy efficiency of homes, facilities and buildings (boiler replacement, reduction of heat loss with new window frames or roof
insulation), for installation of renewable energy systems and the purchase of vehicles with reduced environmental impact (electric,
natural gas or LPG).
Photovoltaic Loan: a product for individuals, businesses or apartment buildings that offers the possibility to benefit through the
"Conto Energia" from incentives to boost the production of electricity by installing new PV systems, or the total renovation or
upgrading of a pre-existing system.
2010
2009
1,303
183,960
251
38,163
182
19,603
26
967
PHOTOVOLTAIC LOAN
Customers financed
Loans issued (in thousands of euro)
ECOLOGY PACKAGE
Customers financed
Loans issued (in thousands of euro)
1. A panoramic view of Milan's North Park
123
1
2
Within project financing, particular interest has been given to biogas plants, normally of less than 1 MW, which allow the production
of electricity using manure in combination with other agricultural waste. These initiatives have a number of interesting aspects for a bank
that pays particular attention to the territory, as BPM does, such as:
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and delivery of the biomass needed to fuel the plant;
 the predominant localization of initiatives in areas of extensive farming and breeding,
mainly in the Po Valley and the northern regions of Italy in general;
 the limited size of the investment (4-5 million euro) and the ability to borrow most of
the amount required meant that small farms could also get together to build such
a plant.
2010.
 the involvement of local farms and livestock, which are indispensable for the collection
Other interventions
Centrale di Mobilità
BPM, in partnership with Legambiente, contributed to the creation of the “Centrale di Mobilità”, a service centre accessible to those looking for
personalised transport information and solutions.
Protected areas
The Ares co-operative, set up by employees of Banca Popolare di Milano, has rented an area in the municipality of Gudo
Gambaredo in Milan's South Agricultural Park, an area of considerable natural beauty and historical and architectural heritage,
which is one of the largest peri-urban agricultural parks in Europe. In this area there is the "Pasturine di Sotto" lake where fishing
is occasionally allowed.
1. Detail of the Geodesic Dome installed in Milan's North Park during the Biodiversity Festival, open during the evening as well.
2. A panoramic view of Milan's North Park
3. National advertising campaign to finance "green" projects
124
3
Geodesic Dome
We took part in events on sustainability through our communication initiatives, such as the installation of a "Geodesic Dome"1 whose architectural
features and energy efficiency make it a symbol of an "environmentally responsible way". The Dome was installed not only at the 2010 Members'
Meeting, but also for:

SolarExpo Verona: an international fair on renewable energy

Biodiversity Festival: an event sponsored by Milan's North Park, together with
numerous other organisations and associations with meetings and conferences, theatre
and film reviews, nature tours, art and educational exhibitions, games and creative
workshops, samples and tastings.

PinC: an itinerant event sponsored by the Municipality of Milan in city parks

Ecomondo: International Fair of Material & Energy Recovery and Sustainable
Development

International Festival of the Environment: an event on the issues of environmental
protection
We also took part in the "M’illumino di meno" (I illuminate myself less) initiative and the CRES.CO. project coordinated by Sodalitas,
aimed at creating a partnership between businesses, citizens and local institutions for the implementation of environmental initiatives.
The main advantage of a dome-shaped building is that, with the same interior space, a dome has an outer surface that is 38% less than that of an ordinary rectangular building. This means that much less
energy is needed to heat or cool it. In addition, the larger the dome, the greater its energy efficiency, as doubling the diameter increases the volume eightfold, while the surface area only increases fourfold.
1
4. Solarexpo: BPM's exhibition stand
125
NB (this applies to all of the tables):
1. Common customers are shown under each bank
2. Unlike in the past, the numbers include so-called "anomalous" customers (e.g. doubtful and protested) and employees or ex-employees/
pensioners who only have a single account at the windows reserved for the staff.
Total number of customers
Total
Individuals
Companies
(+/-)
%
(+/-)
%
1,376,596
161,904
1,219,457
139,368
88.6%
86.1%
157,139
22,536
11.4%
13.9%
99,936
84,534
84.6%
15,402
15.4%
5,593
3,607
64.5%
1,986
35.5%
97,338
96,599
99.2%
739
0.8%
3,655
3,655
2,264
2,264
61.9%
61.9%
1,391
1,391
38.1%
38.1%
1,380,251
1,221,721
88.5%
158,530
11.5%
Women
Men
Commercial banks, of which:
50.3%
50.6%
49.7%
49.4%
Banca di Legnano
51.7%
48.3%
51.3%
48.7%
Banca Popolare di Mantova
45.2%
54.8%
Webank
41.8%
58.2%
Affiliates with specialist skills, of which:
Banca Akros
46.0%
46.0%
54.0%
54.0%
Total
50.3%
49.7%
Banca di Legnano
Webank (*)
Banca Akros
Total
(*) The figure includes 30,000 customers deriving from the merger with WeTrade.
INDIVIDUAL CUSTOMERS
% Breakdown by gender
Average age and % distribution by age bracket
126
Average age
Below 18
years
From 19 to
25 years old
From 26 to
45 years old
From 46 to
65 years old
Over 65
years
53.3
54.0
1.1%
1.3%
3.3%
3.1%
32.6%
31.0%
36.7%
36.9%
26.4%
27.8%
Banca di Legnano
53.8
0.7%
3.5%
31.1%
37.1%
27.6%
55.5
1.4%
2.4%
27.6%
37.6%
31.0%
46.8
3.8%
4.4%
40.7%
37.6%
13.5%
Webank
44.6
0.2%
5.4%
52.8%
33.4%
8.2%
Banca Akros
63.0
63.0
0.2%
0.2%
0.9%
0.9%
21.8%
21.8%
47.7%
47.7%
29.4%
29.4%
Total
53.3
1.1%
3.3%
32.5%
36.7%
26.4%
Ave. age
and period
of service
14.4
15.4
Average age and % distribution by age bracket
Banca di Legnano
15.4
<1 Year
1-5 Years
6-10 Years
Over 10
years
7.8%
3.2%
12.5%
10.6%
13.2%
13.2%
66.6%
73.0%
4.0%
12.9%
13.2%
70.0%
15.8
5.3%
11.4%
12.8%
70.6%
3.6
29.1%
37.5%
31.4%
2.0%
Webank
3.5
57.4%
29.2%
12.9%
0.5%
Banca Akros
6.0
6.0
32.8%
32.8%
20.3%
20.3%
26.7%
26.7%
20.3%
20.3%
14.4
7.8%
12.5%
13.2%
66.5%
Total
Foreign customers
Total
Eastern
Europe
Rest of
Europe
Africa
Asia
South
America
Rest of the
world
45,207
39,688
34.2%
33.3%
6.1%
5.3%
19.9%
20.7%
21.2%
22.0%
15.7%
16.1%
2.8%
2.6%
3,346
41.1%
5.8%
16.6%
19.2%
13.5%
3.9%
599
56.3%
8.5%
16.5%
8.2%
8.8%
1.7%
239
31.0%
8.8%
21.3%
26.4%
10.5%
2.1%
1,335
34.6%
27.9%
6.8%
10.6%
13.7%
6.4%
24
24
0.0%
0.0%
53.8%
53.8%
0.0%
0.0%
7.7%
7.7%
0.0%
0.0%
38.5%
38.5%
45,231
34.2%
6.1%
19.9%
21.2%
15.7%
2.8%
Small Medium-sized
businesses
enterprises
Large
enterprises
Other (*)
Banca di Legnano
Webank (*)
Banca Akros
Total
(*) WeTrade customers are not included
CORPORATE CUSTOMERS
% Breakdown by size
90.9%
8.4%
0.3%
0.5%
90.3%
8.8%
0.3%
0.5%
Banca di Legnano
92.2%
7.5%
0.1%
0.2%
93.0%
6.1%
0.1%
0.8%
86.0%
13.3%
0.3%
0.5%
WeBank
99.5%
0.1%
0.0%
0.3%
(*) This includes Governments and financial institutions
127
Small businesses: % distribution by economic sector
Total
Agriculture
Industry
Skilled trades
Services
Commerce
Other
142,771
105,225
3.3%
2.8%
14.5%
15.1%
20.8%
20.2%
24.6%
25.9%
14.5%
14.4%
22.3%
21.6%
Banca di Legnano
20,783
0.6%
13.8%
24.5%
20.6%
13.4%
27.1%
14,319
10.1%
11.3%
20.0%
19.0%
16.2%
23.3%
1,708
13.2%
14.8%
21.8%
22.9%
19.6%
7.7%
736
0.3%
4.2%
10.6%
70.4%
13.4%
1.0%
< 1 Year
1-5 Years
6-10 Years
Over 10
years
9.9%
28.0%
22.0%
40.3%
WeBank
Length of relationship and % distribution by age bracket
Ave. age and
period of
service
9.2
9.2
9.4%
27.3%
21.7%
41.6%
Banca di Legnano
9.2
10.1%
29.8%
21.9%
38.2%
9.8
10.8%
26.1%
23.3%
39.7%
3.7
21.8%
45.2%
31.7%
1.4%
WeBank
3.2
31.7%
69.0%
13.3%
5.5%
7.0
23.0%
18.0%
28.0%
31.0%
Banca Akros
7.0
23.0%
18.0%
28.0%
31.0%
Total
9.2
10.0%
27.9%
22.0%
40.1%
Individuals
Small
Businesses
Private
banking
customers
SMEs
54
44
53
42
48
55
Banca di Legnano
60
51
52
48
62
50
LISTENING
Customer satisfaction results (NSI*)
* The NSI (Net Satisfaction Indicator) is calculated as the difference between the percentage of customers most satisfied (which voted 8 to 10) and those with the lowest score for satisfaction (from 1 to 5)
128
HANDLING OF COMPLAINTS
Type of complaints received
Total
2,859
Current
accounts and
services
1,505
Credit
Saving
Other
351
695
308
2,088
1,173
262
447
206
Banca di Legnano
110
27
18
22
43
121
68
25
22
6
WeBank
9
3
2
4
0
531
234
44
200
53
0
0
0
0
0
Banca Akros
Total
0
0
0
0
0
2,859
1,505
351
695
308
Total
Accepted
Partially
accepted
Rejected
Complaints handled
2,303
711
307
1,285
2,074
612
297
1,165
Banca di Legnano
110
45
6
59
119
54
4
61
8
2
0
6
316
135
36
145
2010
2009
2008
4,736
3,232
2,411
3,087
2,522
2,057
Banca di Legnano
934
446
333
471
67
21
21
15
-
223
182
-
WeBank
Ethical fund customers
WeBank
129
Contribution of the BPM Group to assets managed by Etica SGR
(in millions of euro)
Assets under management
Etica sgr
2010
442.1
2009
317.4
2008
229.2
81.7
57.3
40.7
18.5%
18.0%
17.8%
Total
Individuals
Companies
No. of online customers
530,659
437,758
92,901
No. of new customers
110,466
90,262
20,204
33,883,893
20,410,149
13,473,744
429,786
338,216
91,570
81.0%
77.3%
98.6%
56,817,977
37,235,383
19,582,594
19,652,561
3,619,870
16,032,691
520,495
520,495
-
of which BPM Group
(Group %)
(1) The whole three-year period does not include the share of equity of Anima SGR
ONLINE CHANNELS
Total visits per year
Active customers at end of year
Active customers as percentage of total
Requests for information
(current account balance, movements, outcome of instructions, etc)
No. of banking instructions
Online trading and fund transactions
130
Figures and ratios: Members and shareholders
Composition of share capital at 31 December 2010
Total
shareholders
Members
Nonmembers
95,054
51,634
43,420
2,045
448
1,597
97,099
52,082
45,017
Women
36,082
22,521
13,561
Men
58,972
29,113
29,859
Average age
49
52
Average period (years) of enrolment in the Members' Register
28
---
No. of individuals
No. of legal entities
Total
Individuals:
Composition of share capital at 31 December 2010
Total shareholders
BPM employees
1
Group employees
Customers
1
2
Institutional investors 3
Large Members/Shareholders 4
of which members
of which non-member
shareholders
Number of
shareholders
Shares
owned
Number of
members
Shares
owned
Number of
non-member
shareholders
Shares
owned
8,175
16,003,074
7,404
15,863,015
771
140,059
533
553,126
471
501,606
62
51,520
40,424
66,879,372
31,603
52,768,206
8,821
14,111,166
216
173,013,129
5
1,762,729
211
171,250,400
80
32,783,637
32
7,946,893
48
24,836,744
15
22,773,295
11
16,268,660
4
6,504,635
Other
47,656
103,049,562
12,556
21,902,917
35,100
81,146,645
Total
97,099
415,055,195
52,082
117,014,026
45,017
298,041,169
Number of
shareholders
Shares
owned
Strategic partners
5
1 Including children that are minors
2 Individuals and legal entities not already included in other categories
3 Qualified operators (insurance companies, banks, trust companies etc.) and UCITS (funds, pension funds and Sicavs)
4 Holders of at least 100,000 shares, not including institutional investors
4 Includes 4 Partner Members belonging to the CM-CIC Group, which had not applied to become members as of 31 December 2010.
Composition of foreign shareholders
2010
2009
2008
Number of
shareholders
Shares
owned
Number of
shareholders
Shares
owned
Funds
84
35,445,092
90
36,986,373
63
32,072,348
Pension funds
17
6,118,792
32
11,378,409
30
9,619,888
Other qualified operators
79
92,625,769
80
84,175,364
76
84,026,485
180
134,189,653
202
132,540,146
169
125,718,721
Total
131
Geographical distribution of members and shareholders at 31 December 2010
Total shareholders
of which members
of which non-member
shareholders
Number of
shareholders
Shares
owned
Number of
members
Shares
owned
Number of
non-member
shareholders
Shares
owned
Milan and Province of Milan
42,799
108,243,827
30,822
58,758,888
11,977
49,484,939
Lombardy
18,346
51,161,311
10,378
19,844,627
7,968
31,316,684
Lazio
5,523
9,931,230
2,866
3,034,877
2,657
6,896,353
Apulia
2,213
3,426,737
1,227
1,598,981
986
1,827,756
Emilia Romagna
8,441
20,462,765
3,264
9,805,771
5,177
10,656,994
5,032
13,379,554
1,416
4,797,699
3,616
8,581,855
Other regions and abroad
Piedmont
14,745
208,449,771
2,109
19,173,183
12,636
189,276,588
Total
97,099
415,055,195
52,082
117,014,026
45,017
298,041,169
2010
2,431
2009
4,547
2008
1,091
Number of membership admissions and cancellations/forfeitures
Members admitted/readmitted
Applications rejected
0
0
1
Memberships cancelled *
981
1
22
Memberships forfeited **
191
1,942
149
2010
2009
2008
Meetings with individual investors and small groups
BPM's Head Office
315
120
791
141
319
108
Banking conference & road show
195
149
211
* For “breach of contractual obligations to the Bank"
** For "the complete loss of share ownership" or death.
Contacts with institutional investors and financial analysts
132
Presentations to the financial community and conference calls
487
501
500
BPM's Head Office
Banking conference & road show
266
221
324
177
240
260
Total
802
1,292
819
Coverage by analysts at December 2010
Banca Imi
Banca Leonardo
Cheuvreux
Citi
Intermonte
KBW
RBS
Santander
Bernstein
Deutsche Bank
Macquarie Research
UBS
Boa Merrill Lynch
Equita Sim
Mediobanca
Unicredit
Centrobanca
Centrosim
Goldman Sachs
HSBC
Morgan Stanley
Nomura
Rating at the end of 2010
Long-term
debt
Short-term
debt
Outlook
Date of last
review
Moody's
A1
P-1
Stable
29-Jun-10
Fitch Ratings
A-
F2
Stable
28-May-10
Standard & Poor's
A-
A-2
Negative
15-Dec-10
Rating agencies
Attendance at general meetings
24-Apr-10
25-Apr-09
13-Dec-08
In person (*)
Proxy
In person (*)
Proxy
In person (*)
936
42
2,815
741
94
2
154
16
264
0
888
0
7
0
10
0
1,301
44
3,867
757
BPM employees
Group employees
Minor children of BPM employees
Minor children of Group employees
Total employees
Total other members
19-Apr-09
810
Proxy
70
In person (*)
997
Proxy
41
31
2
52
3
235
0
337
0
1
0
2
0
1,077
72
1,388
44
678
601
2,436
2,964
670
693
762
721
Grand total
1,979
645
6,303
3,721
1,747
765
2,150
765
Grand total
2,624
10,024
2,512
2,915
(*) Including the legal representatives of minor children
133
Figures and ratios: Personnel
Breakdown of personnel
Total
Employees
Other
personnel
8,095
6,386
7,926
6,336
169
50
Banca di Legnano
831
809
22
581
560
21
57
56
1
Banca di Mantova
Webank
240
165
75
291
480
27
Banca Akros
291
277
14
79
72
7
137
131
6
8,386
8,406
196
ProFamily
Other companies
Total
The "system" figures relate to 2009 and were taken from the "Personnel Statistics" report prepared by ABI
The following tables refer only to employees
Breakdown by structure
Head office
Network
29.5%
31.6%
70.5%
68.4%
Banca di Legnano
13.3%
86.7%
18.8%
81.3%
Banca di Mantova
21.4%
78.6%
Webank
70.3%
29.7%
84.5%
15.5%
Banca Akros
85.2%
14.8%
ProFamily
81.9%
18.1%
Women
Men
46.1%
46.7%
53.9%
53.3%
Banca di Legnano
35.8%
64.2%
54.5%
45.5%
Banca di Mantova
44.6%
55.4%
Webank
47.3%
52.7%
34.7%
65.3%
Breakdown by gender
134
Banca Akros
34.7%
65.3%
Total
45.7%
54.3%
System
42.7%
57.3%
Average age and distribution by age bracket
Average age
Total
Women
Distribution by age bracket
Men
Younger than
30 years old
From 30 to
49 years old
From 50 to
59 years old
Over 60
years old
42.8
41.3
44.1
8.9%
65.2%
43.4
41.8
44.7
7.8%
64.2%
24.9%
26.9%
1.0%
1.2%
Banca di Legnano
40.0
38.0
43.0
15.7%
64.6%
19.2%
0.5%
41.5
41.0
42.0
9.8%
72.3%
17.5%
0.4%
Banca di Mantova
34.9
32.2
37.2
32.1%
60.7%
7.1%
0.0%
Webank
38.0
38.0
38.0
8.5%
84.8%
6.7%
0.0%
41.2
39.9
41.9
7.6%
76.2%
16.2%
0.0%
Banca Akros
41.2
39.9
41.9
7.6%
76.2%
16.2%
0.0%
Total
42.8
41.2
44.0
8.9%
65.6%
24.6%
1.0%
System
42.8
40.6
44.5
11.6%
62.8%
24.5%
1.1%
Total
Women
Men
16.5
17.6
15.6
16.9
17.6
18.3
Banca di Legnano
14.0
11
18
Average period of service
11.9
11
13
Banca di Mantova
4.7
4.2
5.2
Webank
5.5
6
5
9.2
9.9
8.9
Banca Akros
9.2
9.9
8.9
16.4
15.5
17.2
Total
Women
Men
1,079
956
96.4%
96.2%
3.6%
3.8%
Banca di Legnano
58
100.0%
0.0%
53
96.2%
3.8%
Total
Distribution of part-timers
Banca di Mantova
1
0.0%
100.0%
Webank
11
100.0%
0.0%
27
96.3%
3.7%
Banca Akros
Total
System
27
96.3%
3.7%
1,106
96.4%
3.6%
93.4%
6.6%
135
Turnover of new hires
Total
Women
206
90
Banca di Legnano
34
Men
Temps
Apprenticeship
Children
of former
employees
Specialists
Other
reasons
39.3%
60.7%
21.8%
19.9%
26.2%
41.1%
58.9%
4.4%
21.1%
43.3%
22.8%
28.9%
9.2%
2.2%
35.3%
64.7%
35.3%
44.1%
11.8%
5.9%
2.9%
36
33.3%
66.7%
27.8%
13.9%
19.4%
38.9%
0.0%
Banca di Mantova
16
50.0%
50.0%
0.0%
0.0%
0.0%
0.0%
100.0%
Webank
Affiliates with specialist skills,
of which:
Banca Akros
30
25
40.0%
20.0%
60.0%
80.0%
63.3%
32.0%
6.7%
0.0%
13.3%
0.0%
16.7%
0.0%
0.0%
68.0%
Total
25
20.0%
80.0%
32.0%
0.0%
0.0%
0.0%
68.0%
231
37.2%
62.8%
22.9%
17.7%
23.4%
20.3%
15.6%
Total
Women
Men
Dismissals/
Consensual
resolution
Retirements
Solidarity
Fund
Resignations
Other
reasons
417
26.4%
73.6%
1.0%
10.6%
78.7%
2.2%
2.7%
Turnover of departures
332
25.0%
75.0%
1.2%
8.4%
80.7%
7.7%
6.9%
Banca di Legnano
41
14.6%
85.4%
0.0%
2.4%
87.8%
9.8%
0.0%
41
48.8%
51.2%
0.0%
36.6%
58.5%
4.9%
0.0%
Banca di Mantova
2
50.0%
50.0%
0.0%
0.0%
0.0%
100.0%
0.0%
Webank
Affiliates with specialist skills,
of which:
Banca Akros
1
0.0%
100.0%
0.0%
0.0%
0.0%
100.0%
0.0%
9
9
22.2%
22.2%
77.8%
77.8%
22.2%
22.2%
22.2%
22.2%
0.0%
0.0%
55.6%
55.6%
0.0%
0.0%
426
26.3%
73.7%
1.4%
10.8%
77.0%
8.7%
2.1%
Unionisation
rate
Total
Strike hours
Meeting
hours
1,215
508
Total
Union activity
136
89.8%
12,953
90.5%
11,719
11,738
11,211
Banca di Legnano
88.1%
700
0
700
92.0%
505
505
0
Banca di Mantova
91.1%
0
0
0
WeBank
64.2%
29
22
7
Disciplinary measures
Total
Verbal
warnings
Written
warnings
Suspensions
Dismissals/
Resignations
61
5
29
5
5
0
41
4
14
22
18
Banca di Legnano
14
0
14
0
6
1
1
4
0
Banca di Mantova
0
0
0
0
0
WeBank
0
0
0
0
0
Total number
Promotions
Banca di Legnano
Banca di Mantova
WeBank
Banca Akros
Total
as % of number of employees
Total
Women
Men
Total
Women
Men
1,302
529
773
16.4%
14.5%
18.1%
1,000
408
592
15.8%
13.8%
17.5%
161
55
106
19.9%
19.0%
20.4%
96
45
51
17.1%
14.8%
20.0%
0
0
0
0.0%
0.0%
0.0%
45
21
24
27.3%
26.9%
27.6%
7
2
5
2.5%
2.1%
2.8%
7
2
5
2.5%
2.1%
2.8%
1,309
531
778
16.0%
14.2%
17.5%
137
Figures and ratios: Suppliers
NB (this applies to all of the tables):
Common suppliers are shown under each bank
(Turnover in thousands of euro)
Breakdown by type of supplies
Total
Services
Property
Technologies
Number of
suppliers
Amount
invoiced
% suppliers
% amount
invoiced
% suppliers
% amount
invoiced
% suppliers
% amount
invoiced
2,680
318,132
70.9%
48.2%
15.6%
17.1%
34.7%
42.9%
1,410
230,006
55.0%
33.9%
29.5%
23.2%
13.5%
15.5%
Banca di Legnano
412
24,193
100.0%
100.0%
0.0%
0.0%
0.0%
0.0%
389
22,347
100.0%
100.0%
0.0%
0.0%
0.0%
0.0%
54
2,745
100.0%
100.0%
0.0%
0.0%
0.0%
0.0%
415
38,841
64.8%
67.3%
0.5%
2.2%
34.7%
30.4%
Banca di Mantova
WeBank
Breakdown by amount invoiced
Total
Number of
suppliers
Services
2,171
52,303
74.7%
65.6%
14.3%
18.7%
11.1%
From 100,001 to 500,000 euro
385
82,538
54.5%
53.6%
22.9%
22.5%
22.6%
24.0%
From 500,001 to 1,000,000 euro
65
46,897
60.0%
60.4%
20.0%
20.4%
20.0%
19.2%
59
136,394
49.2%
34.1%
11.9%
12.0%
39.0%
53.8%
2,680
318,132
70.9%
48.2%
15.6%
17.1%
13.5%
34.7%
Over 1,000,000 euro
Total
% suppliers
% amount
invoiced
% suppliers
Technologies
% amount
invoiced
15.7%
Up to 100,000 euro
Amount
invoiced
Property
% amount
invoiced
% suppliers
Breakdown by type of supplies
North-West Italy
Number
of
suppliers
138
North-East Italy
Amount
invoiced
Number
of
suppliers
Amount
invoiced
Central Italy
Number
of
suppliers
Southern Italy
Amount
invoiced
Number
of
suppliers
Amount
invoiced
4.3%
7.7%
1.5%
1.9%
Italian islands
Number
of
suppliers
Amount
invoiced
0.5%
0.4%
Abroad
Number
of
suppliers
Amount
invoiced
0.6%
1.4%
2.3%
0.8%
2.6%
3.1%
75.2%
77.7%
6.4%
7.5%
12.1%
10.4%
64.3%
73.6%
8.1%
8.0%
16.9%
12.6%
Banca di Legnano
92.0%
84.3%
1.9%
8.4%
5.6%
6.6%
0.2%
0.5%
0.2%
0.3%
0.0%
0.0%
87.7%
86.7%
4.4%
7.7%
8.0%
5.6%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Banca di Mantova
81.5%
73.5%
18.5%
26.5%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
WeBank
84.0%
93.9%
5.7%
2.6%
7.2%
3.1%
1.3%
0.4%
1.8%
0.0%
0.0%
0.0%
Figures and ratios: Suppliers
Breakdown by geographical area based on the number of suppliers
North-West
Italy
North-East
Italy
Central
Italy
75.2%
6.4%
12.1%
64.3%
8.1%
16.9%
Banca di Legnano
92.0%
1.9%
5.6%
Southern
Italy
4.3%
Italian islands
Abroad
7.7%
0.5%
0.4%
1.4%
2.6%
0.2%
0.2%
0.0%
87.7%
4.4%
8.0%
0.0%
0.0%
0.0%
Banca di Mantova
81.5%
18.5%
0.0%
0.0%
0.0%
0.0%
WeBank
84.0%
5.7%
7.2%
1.3%
1.8%
0.0%
Breakdown by geographical area based on the amount invoiced
North-West
Italy
North-East
Italy
Central
Italy
77.7%
7.5%
10.4%
73.6%
8.0%
12.6%
Banca di Legnano
84.3%
8.4%
6.6%
Southern
Italy
1.5%
Italian islands
Abroad
1.9%
0.6%
0.8%
2.3%
3.1%
0.5%
0.3%
0.0%
86.7%
7.7%
5.6%
0.0%
0.0%
0.0%
Banca di Mantova
73.5%
26.5%
0.0%
0.0%
0.0%
0.0%
WeBank
93.9%
2.6%
3.1%
0.4%
0.0%
0.0%
139
Figures and ratios: Community
(in thousands of Euro)
Distribution by type of activity
Culture
Total
Donations
and gifts
Sponsorships
4,291
356
3,934
Healthcare
536
512
24
Solidarity
937
522
415
Scientific research
107
66
41
Education
293
242
51
Sport
651
55
596
Other
262
198
63
Total
7,076
1,952
5,124
Total
Donations
and gifts
Sponsorships
6,821
1,863
4,958
5,714
1,451
4,263
Banca di Legnano
565
282
283
338
124
214
70
6
64
Banca di Mantova
WeBank
134
0
134
255
89
166
Banca Akros
Total
255
89
166
7,076
1,952
5,124
Total
Culture
Solidarity
Healthcare
Scientific
research
Education
6,821
4,246
900
549
86
5,714
3,753
791
548
80
Banca di Legnano
565
226
24
0
338
96
61
0
Banca di Mantova
Other
293
559
188
151
346
44
0
89
130
96
4
53
77
48
70
62
2
1
3
1
2
0
WeBank
134
108
22
0
0
0
4
0
255
45
26
14
4
0
92
74
Banca Akros
255
45
26
14
4
0
92
74
7,076
4,291
926
563
90
293
651
262
Total
140
Sport
Figures and ratios: Community
Geographical location of interventions
Total
Donations
and gifts
Sponsorships
4,663
1,019
3,644
509
195
314
67
6
62
Rest of Lombardy
420
175
244
Alessandria
293
95
198
58
12
47
Milan
Province of Milan
Mantua and province
Rest of Piedmont
Lazio
438
103
335
Other Italian regions
419
230
189
Rest of the world
Total
208
116
92
7,076
1,952
5,124
141
(kilograms)
Paper consumption
Total
consumption
A4 paper
A4 paper
consumption consumption per
employee
1,979,639
541,866
68
1,612,813
428,350
68
Banca di Legnano
202,430
54,693
68
139,314
47,323
85
Banca di Mantova
14,082
3,000
54
Webank
11,000
8,500
52
54,410
43,000
123
Banca Akros
30,845
26,000
94
23,565
17,000
236
2,034,049
584,866
71
ProFamily
Total
(kilograms)
Waste collection and disposal
Total waste
Differentiated of which paper
waste
(% of total
waste)
Total waste per
employee
1,864,961
1,626,465
84.5%
240
Banca Popolare di Milano *
1,484,538
1,306,859
86.1%
234
Banca di Legnano
270,379
244,479
83.1%
334
105,219
70,287
65.7%
188
4,825
4,840
97.6%
86
5,750
4,750
78.3%
21
1,870,711
1,631,215
84.30%
233
Banca di Mantova
Banca Akros
Total**
* Figures including ProFamily and Webank
** The total does not include the figures of Ge.Se.So (around 6 tonnes)
142
Energy and water consumption
Electricity
consumption in kWh
x sqm
Heat
Water
Gas consumption in total consumption in cubic
cubic metres x sqm
metres x employee
heated
Banca Popolare di Milano *
138
11
50
Banca di Legnano
144
15
23
128
27
52
Banca di Mantova
138
11
15
Banca Akros
436
9
39
Total
139
13
46
* Figures including ProFamily and Webank
143
Glossary
ALERT: alarm, warning
ASSET MANAGEMENT: managing a portfolio of financial assets.
BANKING: activities carried out in a banking environment.
BIOMASS: materials of biological waste from farming, breeding and industry reused in special power stations to produce “clean”
electricity.
BLOG AND MICROBLOG: web page (micro-page) created by a normal user, which is then continuously updated with information
and commentary on issues of common interest.
BROKER DEALER: a firm that trades in securities and financial instruments (or, more broadly, in other assets) on behalf of clients.
BUSINESS UNIT: productive activity of a firm (sector).
CALL CENTRE: telephone support for customers.
CASH IN/CASH OUT: devices available to bank tellers to speed up the process of paying out or taking in cash.
BOD: Board of Directors.
PRIVATE BANKING CENTRES: units dedicated to private banking customers.
CHAT: real-time conversations between computer users.
CLAIM: short phrase that became the slogan of the brand.
COMMERCIAL BANKING: the normal banking activity carried on with individual and corporate customers; it does not include
consultancy and special activities such as Corporate Finance, Capital Markets and M&A.
WEB COMMUNITY: online community.
COMPENSATION OF CO2 EMISSIONS: elimination of CO2 emissions by voluntary purchasing of emission credits also generated
through reforestation projects.
CONVENTION: a meeting of two or several individuals to discuss matters of common interest. In the business world, conventions are
used to communicate to an internal public, dealers and commercial partners.
144
Glossary
CORE (BUSINESS): a company’s main activity, to which all of its production decisions are subject.
CORPORATE: a type of customer represented by medium-sized and large companies.
CORPORATE BANKING: banking activities addressed to medium and large size companies.
CORPORATE IMAGE: a series of values and messages perceived and processed by the public in response to the company’s approach
to aesthetics and relationship building.
COST TO INCOME RATIO: an indicator of productivity obtained by dividing operating expenses by operating income.
CREDIT RISK: risk that an unexpected change in the creditworthiness of the borrower, with which there is an exposure, generates a
corresponding unexpected change in the value of the loan.
CUSTOMER SATISFACTION: a measure of approval. This is the principal objective of a marketing-oriented business, whose efforts
are designed to develop a quality relationship with customers.
DIVERSITY MANAGEMENT: corporate policies to develop and manage human resources through knowledge and appreciation of
diversity (gender, age, nationality, etc.).
EQUITY (OR PRIVATE EQUITY): an activity that involves the acquisition of equity interests and their subsequent transfer to specific
counterparties, without a public placement.
FAIR VALUE: International accounting standards (IAS) define fair value as “the amount for which an asset could be exchanged or a
liability settled, between knowledgeable, willing parties in an arm’s length transaction”. In effect, it is a measurement at “market value”.
CLOSED-END FUND: a mutual fund with a fixed number of shares, in which the right to redeem units is only permitted at
predetermined deadlines.
ETHICAL FUND: an investment fund that assigns its assets exclusively to companies whose policies are consistent with a social or
environmental ethic.
HEDGE FUNDS: any fund that uses a strategy or a series of strategies other than just buying bonds and shares (like mutual funds)
and credit instruments (like money market funds) and whose purpose is to achieve an absolute return, not one merely related to a
benchmark.
FUND RAISING: gathering funds to finance Third Sector (charitable) activities by means of donations and contributions offered by
private individuals and companies.
145
Glossary
COMPLIANCE FUNCTION: the unit responsible for preventing the risk that business activities fail to comply with legislation or other
regulations, or with self-imposed instructions (e.g. articles of association, codes of conduct, codes of self-regulation).
GOVERNANCE: a series of instruments and rules that govern company life, regarding in particular the transparency of documents,
company deeds and the completeness of information given to the market.
GREEN CONSUMER: person whose buying behaviour, consumption and recycling is driven by awareness and environmental
concern, as determined by their level of knowledge and their attitude toward such issues”.
HOLDING: a financial holding company that by owning the majority of various companies maintains control over their management.
SOCIAL HOUSING: a series of actions, initiatives and tools, provided directly or by facilitating the work of third parties, that help the
disadvantaged live in a dignified manner, in order to improve and consolidate their position in society.
INTERNAL AUDIT: independent checking and consultancy activities designed to improve organisational efficiency and effectiveness,
via the assessment and development of processes involving controls, risk management and corporate governance.
INVESTMENT BANKING: a specialist area of finance dedicated, in particular, to giving advice on the issue of securities and, more
in general, on sourcing funds in the capital markets.
INVESTOR RELATIONS: relations maintained by listed companies with institutional investors and rating agencies.
KNOW-HOW: the knowledge and operational skills necessary to perform a specific job.
LEADERSHIP: interaction between the leader of a structure and the rest of the group.
LEASES: contract under which one party (the lessor) grants to another party (the lessee) for a specified period of time use of an asset,
purchased or built by the lessor, on the choice and indication of the lessee, with an option for the latter to acquire ownership of the
asset subject to fixed conditions on termination of the lease contract.
MANAGEMENT: the persons who direct a business or decide on its strategic direction.
MISSION: the overall orientation towards a company’s underlying macro objectives that reflect the reasons why a business exists.
Consistent with the declared values, the mission statement usually links the activity of the business with its contribution to the community
in terms of greater well-being, the quality of life and social integration.
M-SITE (OR MOBILE SITE): a website visible on a mobile phone
146
NON-PROFIT: activities carried on not with a view to making a profit.
NGO: Non-Governmental Organisation. Any local, national or international organisation or association of citizens, not created by
the government and not part of any governmental structure, which is engaged in the field of social solidarity and cooperation for
development.
ON-LINE: everything related to telematic systems.
ON-LINE BANKING: a series of banking transactions carried out by banks’ customers through a remote connection with their own
bank, made possible by the birth and development of the Internet and cellphone networks.
OUTLOOK: prospects for the future.
PARTNERSHIP: close collaboration between two or more organisations that share certain objectives and make their operational
resources available in order to achieve them. Partnership facilitates dialogue and the exchange of ideas, which are vital for a proper
assessment and management of risk.
PERFORMANCE: equivalent to yield in financial terminology.
PERIURBAN: an area near the city that is not yet open countryside.
CEILING: expenditure ceiling.
POLICY: a series of fundamental principles and guidelines devised and implemented by the leadership of an organisation, with a view
to directing its activities and pursuing long-term objectives.
PRICE: quotation, price.
PRICING: the methods of determining the yields and/or costs of the products and services offered by the bank.
PRIVATE: these are generally individual customers with financial assets over a certain threshold.
PROJECT FINANCING: financial activities aimed in particular to the financing of projects on the basis of a forecast of cash flows
generated by them, as well as - unlike ordinary credit risk analysis - technical analysis of the project sponsors’ ability to complete it and
the existence of markets for the product.
RATING: the assessment made by a specialist private agency of the creditworthiness of a party that issues bonds in international
financial markets, i.e. a reflection of the probability that the party will be able to service the debt on a timely basis.
147
Glossary
RETAIL: a term borrowed from high-street commerce to indicate the provision of a service or the sale of a product to the general
public.
RISK MANAGEMENT: the corporate function that monitors a company’s exposure to risk.
ROAD SHOW: a series of initiatives that a company undertakes to divulge new corporate strategies, generally by means of itinerant
meetings.
ROE: return on equity, being the ratio of net income to shareholders’ equity at the end of the period.
SGR (Società di Gestione del Risparmio): an asset management company that is authorised to promote, establish, organise and
manage mutual funds (collective management of savings), while keeping its own assets separate from those of the fund. A SGR may
also manage funds established by other SGRs.
SICAV (Società di Investimento a Capitale Variabile - Investment Company with Variable Capital): a company whose object
is the collective investment of funds raised through a public offering of its shares. The capital must be fully paid in and the shares fully
paid up on issue.
SIM (Società di Intermediazione Mobiliare): a company that only provides stockbroking services.
SMALL BUSINESSES: a market segment comprising small and medium-sized enterprises.
SOCIAL NETWORK: websites that make it possible to create a virtual social network, thereby facilitating the birth and maintenance
of links with other people.
STAFF FUNCTION: functional specialists that support the hierarchical “line” structure of the business; the former are independent of
the latter and assist them with their activities.
STAKEHOLDERS: strictly speaking, all the individuals and identifiable groups on which the enterprise depends for its survival:
shareholders, employees, customers, suppliers and key government agencies. More broadly, a stakeholder is any identifiable individual
who can influence or be influenced by the organisation’s activity in terms of products, policies and processes: local groups, government
bodies, business associations, competitors, unions and the press (R.E. Freeman, Strategic Management: a Stakeholder Approach,
Pitman Boston,1984).
START UP: newly formed companies, where there are still organisational processes underway.
SUSTAINABLE DEVELOPMENT: a process designed to achieve objectives in terms of environmental, economic, social and institutional
improvement, both locally and globally, with the aim of meeting the needs of present generations without compromising the ability of
future generations to meet their own needs.
148
TARGET: an objective to be reached.
THIRD SECTOR: all the parties occupying an intermediate position between the public sector (First Sector) and the private sector
(Second Sector) that are able to provide goods and services on a non-profit basis. In Italy, the Third Sector principally comprises
voluntary organisations, social co-operatives, associations and foundations working for the benefit of society.
TIER 1 CAPITAL: the class of equity made up of the share capital and reserves coming from after-tax retained earnings.
TOTAL CAPITAL RATIO: the minimum required solvency ratio, being the ratio of regulatory capital, including third-level subordinated
loans, to the weighted on- and off-balance sheet assets of a bank.
TRADING: buying and selling various kinds of securities that are traded on financial markets. If this takes place on the Internet, it is
called on-line trading.
TREND: the direction of a change in prices, indices or the results of an economic activity.
TURNOVER: when used with regard to employees, this means the percentage of new hires (inward turnover) and terminations
(outward turnover) during the year.
VALUE ADDED: measures the increase in value created by the production and distribution of goods and services, achieved by
combining capital and labour (as factors of production).
WEALTH MANAGEMENT: personalised management of major financial wealth.
WORKSHOP: study and investigation of a specific theme.
149

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