1. Miro Fiordi, CEO Credito Valtellinese Bruxelles, 1st December 2014 6th European Forum Co-operative Banks and SMEs Credito Valtellinese banking Group near the SMEs: The role of EU funds

2. Foreword - 1 “The aim of this Forum is to bring to the forefront the main elements impacting SMEs’ access to finance by taking a comprehensive perspective. It will make a first Assessment of the new EU instruments to finance SMEs, and discuss the Financial Services Regulation: impediment or incentive for co-operative banks to finance SMEs?” WE DEFINE OURSELVES … a model to finance the real economy

3. Foreword - 2 «New financial market regulations, which intend to stabilise the markets, are squeezing the lending capacity of banks» (Gerard Huemer, UEAPME). WHY Creval banking Group together with IEB-IEF funds? To be able to serve the needs of the real economy even better, mainly at local/regional level.

4. Index 1.Introduction. Creval banking Group 2.IEF guarantee to support innovative SMEs 3.IEB funds 4.CreditoAdesso for SMEs in Lombardy 5.Promotion 6.Concluding remarks

5. The Creval Group 1. Introduction. The Creval Group «Popular» banking Group - cooperative

6. Economic trend – end 2014 (EU Commission - forecasts) - GDP decreasing since 2008: more than 10% - this year -0,4%; -Unemployment rate: 12,6%; -Debt/Gdp 132,2%. Creval Group reaction – for SMESs 1. through agreements with main institutional partners such as BEI and FEI Supply of financial products at very favorable conditions - through agreements with main institutional partners such as BEI and FEI. 2. near them The branches of the Group, including specialized skills aimed to follow SMEs, are near them to choice together the best suitable products for their needs. Economic trend and Creval Group 1. Introduction. Economic trend and Creval Group

7. MARKET OPPORTUNITIES 1.The spectrum of the offer of financing products grows substantially 2.Credit «capability» increases 3.Funding at very favourable rates and duration (not available in the market); 4.Guarantee IEF at a supranational level with 0 risk-weighted. IEB and IEF for the Creval banking Group 1. Introduction. IEB and IEF for the Creval banking Group

8. 2. IEF guarantee to support innovative SMEs IEF and Credito Valtellinese July 2013: agreement between IEF and Credito Valtellinese to foster credit for small mid-caps and SMEs within the framework of Risk Sharing Instrument (RSI). For Italian innovative enterprises: - Plafond: 100 milioni € financing with IEF guarantee on 50% of the total amount. The product MUTUO FEI: Mortgage and unsecured loan. Main elements: -until 100% of the investment program cost; -amount between 25.000 and 3 million €; -duration 2-7 years. Purpose: investments in the fields of research, innovation and development of the enterprise.

9. 3. IEB Funds IEBGruppo Credito Valtellinese February 2014: securitization aimed to allow IEB the supply to Gruppo Credito Valtellinese of a credit line of 200 million € - for Italian firms with less than 3.000 employees and projects to be completed within 3 years from the distribution. Product MUTUI BEI PROGETTI: Mortgage and secured loan for SMEs and MID CAPS - agricolture, industry and services. Maximal unitary amount 12,5 m.ni €, duration: -2-5 years for unsecured loans -2-15 years for mortgage loans. It can’t be finalised to financial activities as such, or real estate development.

10. 4. CreditoAdesso for SMEs in Lombardy CreditoAdesso With the support of IEB funds for Lombardy, the initiative CreditoAdesso was born in 2012 to strengthen micro, small and medium enterprises of the region. Ressources available in a joint loan from Finlombarda (40%) and Creval Group (60%). Product CreditoAdesso: Unsecured loan on the basis of orders or contracts for goods and/or services whose value is at least 30.000 € for micro and small enterprises and 100.000 € for medium ones. Each loan may cover until 60% of the global amount of each order/contract and has a duration of 24-36 months.

11. 5. The promotion 1.Direct «physical» link with enterprises possibly interested 2.Posters inside our branches 3.Advertising 4.Internet site www.creval.it

12. 6. Concluding remarks 1.Cooperative banks 1.Cooperative banks: a model to finance the real economty («together, we can»). Small and medium enterprises are «the core» of our business model; «SMEs are truly the engine that can restart the growth» (Geerrst van der Horst, UNICO) 2.Dialogue 2.Dialogue among regulators, banks and SMEs representatives is very important innovative financing 3.Availability/need to use innovative financing to facilitate the credit access to SMEs 4.Added value 4.Added value: on the basis of our values in terms of solidarity, social responsability and culture

13. Miro Fiordi, CEO Credito Valtellinese Bruxelles, 1 dicembre 2014 6th European Forum Co-operative Banks and SMEs IL GRUPPO CREDITO VALTELLINESE A FIANCO DELLE PMI: IL RUOLO DEI FONDI COMUNITARI