1

Banca CR Firenze Group

Investor Relations

-

* 2001, all brand cardholders (Aura: 2,000,000)

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

cards

THE CARD BUSINESS

2

Banca CR Firenze Group

Investor Relations 2001, average outstanding credit

Outstanding credit Financial margin

34%

25%

16%

25%

15%

25%

10%

50%

Revolving cards Personal loansHome appliances Vehicle financing

THE CARD BUSINESS - 2

Fast growing business

High contribution

Aura Card: #1 revolving credit card in Italy

3

Banca CR Firenze Group

Investor Relations

8% 43%

28%

21%

24%

21%26%

29%

EUROFINAS - Europe

FINDOMESTIC

20%13%

9%

58%

ASSOFIN Italy

Findomestic is already there

EUROPE GOES REVOLVING

Revolving cards Personal loansHome appliances Vehicle financing

*As at Dec. 31, 2002

4

Banca CR Firenze Group

Investor Relations

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

consumer credit

0.00%

10.00%

20.00%

0.00% 12.50% 25.00%

ITA ‘91

ITA ‘00

UK ‘91USA ‘91

USA ‘00Sa

vin

gs

ra

tio

Cons. credit / GDP

EU 8.8%

Source : Merrill Lynch

UK ‘00

FUTURE TREND

5

Banca CR Firenze Group

Investor RelationsSource : Prometeia Calcolo Apr.30, 2002

Banca CR Firenze creates value:

1.00%

6.50%

12.00%

3.00% 6.00% 9.00%

B. Lombarda

B. Pop. Bergamo

BPCI

B. Pop. Em. Romagna

B. Pop. Milano

MPS

B. Pop. Verona

Banca Carige

C.R. Firenze

B. Pop. Sondrio

B. Pop. Lodi

2002

E R

OE

2002E Cost of Capital

ROE = Cost of Capital

2002E ROE: 10.4%

2002E Cost of Capital:

7.8%

VALUE CREATION

6

Banca CR Firenze Group

Investor RelationsAs at June 20, 2002 - Source : Datastream

Since its IPO CR Firenze has been one of the best performers amongst the Italian Financial

Institutions

Banca CR Firenze

Comparables Index

Italian Banking Index

2001

SHARE PRICE PERFORMANCE

J A O N D J F M A M J J A S O N D J F M A M J50

60

70

80

90

100

110

120

130

S2002

June, 2002 - United Kingdom

BACK-UP SLIDES

BANCA CR FIRENZE GROUP

8

Banca CR Firenze Group

Investor Relations

After UT2transaction

Tier I

Tier II

Deductions

REGULATORY CAPITAL

SOLVENCY RATIO

Tier 1 SOLVENCY RATIO

FY 2001

785.6

-124.0

454.1

1,115.7

8.33%

5.86%

1Q 2002*

823.6

-138.5

437.0

1,122.0

8.17%

6.00%

Euro millions

823.6

-138.5

637.0

1,322.0

9.22%

6.00%

*Figures take into consideration a capital increase by means of reserves utilization as approved by the shareholders meeting held the Apr. 29, 2002

EQUITY STRUCTURE

9

Banca CR Firenze Group

Investor Relations

Euro millions

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

Variation

NET INTEREST INCOME 11.0%

Non-Interest income -2.4%

Operating costs* 0.9%

CORE OPERATING INCOME** 3.9%

INCOME before Expceptionals 1.7%

NET INCOME

2000 PF

518.5

342.4

551.3

265.3

182.0

93.3

2001

575.8

334.3

556.4

275.7

185.1

93.4 0.0%

2001 CONSOLIDATED RESULTS

10

Banca CR Firenze Group

Investor Relations

Euro millions

Variation

11.5%

5.2%

18.5%

9.3%

31.0%

28.5%

NET INTEREST INCOME

Non-Interest income

Equity subsidiaries

TOTAL INCOME

PROFIT before exceptional

NET INCOME

Total costs

1Q 2001 PF

132.4

79.4

2.7

214.6

33.2

15.8

157.4

1Q 2002

147.6

83.5

3.2

234.6

43.5

20.3

164.7 4.6%

1Q 2002 CONSOLIDATED RESULTS

11

Banca CR Firenze Group

Investor Relations

Euro millions

Variation

DIRECT FUNDING 2.2%

INDIRECT FUNDING 2.8%

Asset under custody 3.6%

TOTAL FINANCIAL ASSETS

Asset under management

GP (discretional accs)

Mutual funds

Insurance products

2.1%

-3.7%

6.3%

0.0%

2001

11,058.3

14,091.5

6,063.7

2,340.1

8,027.8

4,089.3

1,598.4

25,149.8

1Q 2002

11,300.2

14,478.9

6,281.9

2,253.7

8,197.0

4,345.4

1,597.9

25,779.1 2.5%

1Q 2002 CONSOLIDATED RESULTS

12

Banca CR Firenze Group

Investor Relations

357.2

203.8

348.5

203

349.5

218.5

100

300

Eu

ro m

ln

1999 2000 2001

67.0%

68.2%67.5%

65.8%

9.5

C / I ratio, exceptionals excluded

Personnel expenses

Exceptionals

Other expenses

C / I ratio, recovered expenses excluded

COST / INCOME

Strong commitment to reduce the present level

13

Banca CR Firenze Group

Investor Relations

5,000

Private Customers 800,000

75,000 500,000

82% 17.5% 0.5%

Mo

nth

ly i

nco

me

- E

ur o

Assets - Euro

Retail

Affluent

Private Bkg.

As at Dec. 31, 2001 - Group

SMALLBUSINESS

CORPORATE

Top1%

Big6%

Mid-size9%

Small 20%

Micro64%

> 25

> 2.5

> 1

> 0.25A

nn

ual

sal

es -

Eu

r o m

ln

Companies100,000

CUSTOMER SEGMENTATION