Press release

Cerved Credit Management Group and Creval: strategic alliance in the management of NPLs

Sondrio - Milan, 22 December 2014 – Today, Credito Valtellinese S.c. (“Creval”), parent company of the Credito Valtellinese Banking Group (“Creval Group”), and Cerved Information Solutions S.p.A. (“Cerved Group”), parent holding company of the largest credit information player in Italy, via its subsidiary Cerved Credit Management Group S.r.l. (“CCMG”), have signed an agreement for the development of a long term industrial partnership for the management of non-performing loans (NPLs).

The agreement envisages (i) the signing of a multi-year contract for the management by CCMG of the portfolio of NPLs of the Creval Group (85% in terms of Gross Book Value, GBV), via Finanziaria San Giacomo S.p.A. (“FSG”), a company which is entirely controlled by Creval and specialised in the management of NPLs of the Creval Group, and (ii) the sale to CCMG of FSG.