INVESTOR RELATIONSA shareholding of CR Firenze Group

1

Merrill LynchEuropean Midcap Financial Conference

London, 12 December 2001

Chiaffredo SalomoneHead of Marketing

INVESTOR RELATIONSA shareholding of CR Firenze Group

2

Widespread distribution High market penetration

Market share:

by transactions 27.8%

by volume 12.2%

3,600,000 customer database

96 Customer Service Centres

Over 65,000 affiliated stores

1,500 employees

S & P rating : ST A2 LT A-

2000 ROE : 18.3%

Trentino Alto Adige

Friuli V. Giulia

Veneto

Emilia Romagna

Marche

UmbriaAbruzzo

Molise

Puglia

BasilicataCalabria

Sicilia

SardegnaCampania

Lazio

Toscana

Liguria

Piemonte

Valle d’Aosta

Lombardia

FINDOMESTIC Banca

INVESTOR RELATIONSA shareholding of CR Firenze Group

3

Consolidation in the core area and investments in unserviced markets

FINDOMESTIC EURO ZONE

INVESTOR RELATIONSA shareholding of CR Firenze Group

4Mortgages excluded

Findomestic 2.7

Fiatsava 2.5

Deutsche Bank 1.5

AgosItafinco (Intesa) 1.3

Fiditalia (Unicredito) 1.2

Finemiro (Cardine) 1.1

Compass 0.9

BPLDucato 0.8

Citifin 0.8

Euro billion

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

THE ITALIAN CONSUMER CREDIT LEADER

INVESTOR RELATIONSA shareholding of CR Firenze Group

5*As % of outstanding credits - Source : Assofin

Outperforming growth and steady reduction of credit losses

29.3%30.0%28.8%

35.1%34.0%

22.6%20.5%

18.0%

33.2%

14.7%

1996 1997 1998 1999 2000

Italy, new business (yoy %)

Findomestic, new business (yoy %)

1997 1.39%

1998 1.22%

1999 1.15%

2000 1.00%

NPL ratio*

1996 1.54%

System average : 2 %

EFFICIENCY

INVESTOR RELATIONSA shareholding of CR Firenze Group

6

24%

18%

26%

29%

3%

Vehicle financingHome appliances

Revolving cards

Personal loans Other

BUSINESS SEGMENTATION

30 September 2001 - New business volume : Euro 2.7 Billion

INVESTOR RELATIONSA shareholding of CR Firenze Group

7

THE CARDS BUSINESS

INVESTOR RELATIONSA shareholding of CR Firenze Group

8

PPINGSHO

FLEXIBILITY

ISSUERS

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

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

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

THE AURA CARD

INVESTOR RELATIONSA shareholding of CR Firenze Group

9

-

* FY 2001E

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

THE AURA CARD : multibranding

INVESTOR RELATIONSA shareholding of CR Firenze Group

10

33%

16%

26%

25%

18%

20%

21%

41%

0%

100%

Outstanding credits Financial margin

BUSINESS CONTRIBUTION to the FINANCIAL MARGIN

Revolving cards Personal loans Home appliances Vehicle financing

Aura : growing business and high contribution

INVESTOR RELATIONSA shareholding of CR Firenze Group

11

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

FUTURE TRENDS

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

INVESTOR RELATIONSA shareholding of CR Firenze Group

12

8%

21%

28%

34%

9%

24%

18%26%

29%

3%

EUROFINAS - EuropeFINDOMESTIC

16%

10% 8%

57%

9%

ASSOFIN - Italy

Revolving cards Personal loans Home appliances Vehicle financing

Findomestic is already there

EUROPE GOES REVOLVING