1. PRESENTATION to US investors October 2002

2. Investor Relations 2 *As at March 31, 2002 - Other figures as at June 30, 2002, Findomestic excluded Group network: 417 branches Market share*: Tuscany, by loans 12.4% - by funding 15.5% Italy, by loans 1.2% - by funding 1.1% 900,000 customers Euro 26.2 bn total funding Euro 12.1 bn customer loans 2001 ROE : 11.3% (13.7% adj) 50% share capital of FINDOMESTIC Banca (Italian consumer credit leader) Strong regional presence & national leadership in consumer credit BANCA CR FIRENZE Group - Highlights

3. Investor Relations 3 GROUP HISTORY Banca CR Firenze turning point 2000 - New Board and top management 2000 - The bank goes public: I.P.O. 2001 - Stake in Findomestic is increased to 50% 1829 - The bank is founded in Florence 1970 / 1985 - 1992 & 1997 - Incorporation as joint-stock company and Group constitution 1999 - The Foundation reduces its stake in favour of two new partners: Sanpaolo IMI e BNP Paribas The shareholding portfolio takes shape

4. Investor Relations 4 As at Sept. 23, 2002 - Source : Datastream Banca CR Firenze Banking Index MIDEX Index 2002 SHARE PRICE PERFORMANCE Since the IPO CR Firenze has been one of the best performers among the Italian financial institutions

5. Investor Relations 5 Institutional investors - Fidelity - official, all others - estimates Since the IPO the floating shares increased from 25% to 27% of the share capital Important partners & leading institutional investors SHAREHOLDER STRUCTURE 19.5% 41.8% 27.1% 7.0% 4.7% 5.5% Agreement among the three main shareholders (44% of the share capital)

6. Investor Relations 6 Infogroup Datacentro Centro Telemktg. Citylife Perseo Finance Pro.Du.Ser. CR PISTOIA e PESCIA CR ORVIETOCR MIRANDOLA CR CIVITAVECCHIA Findomestic Liberamente Network Product Companies Service Companies Consumer CreditFinancial Planners BANCA CR FIRENZE (Parent Company) Specialized units by Sanpaolo IMI and BNP Paribas Eptaconsors Centrovita Centro Leasing Centro Factoring Cerit CR Firenze Gest. Int.le 100.0% 51.0% 73.6%60.9% 80.0% 50.0% 41.0% 46.0% 22.2% Arval Italia 22.5% 100.0% 37.5%50.0% 60.0%47.8% XX% - Consolidated stake THE GROUP STRUCTURE

7. Investor Relations 7 Commercial banking Lending Asset management Strategic investments Consumer credit As at June 30, 2002 Contribution to net income BUSINESS MODEL High diversification of income sources

8. Investor Relations 8 5,000 Private Customers 800,000 75,000 500,000 82% 17.5% 0.5% Monthly income - Euro Assets - Euro Mass market Affluent Private Bkg. Group - As at June 30, 2002 SMALL BUSINESS CORPORATE Top 1% Big 6% Mid-size 9% Small 20% Micro 64% > 25 > 2.5 > 1 > 0.25 Annual sales - Euro mn Companies 100,000 CUSTOMER SEGMENTATION

9. Investor Relations 9 Customer loans Companies* Financial companies Other Public bodies FindomesticBanks Euro bn CUSTOMER LENDING Growth coupled with diversification *Non-financial and family companies, Findomestic excluded

10. Investor Relations 10 Net NPLs ratioCoverage ratio 5 – Excellent 33.9% 37.7% +3.8 4 – Good 21.0% 21.0% ---- 3 – Acceptable 19.1 % 20.4% +1.3 2 – Risky 23.7% 18.7% -5.0 1 – Critical 2.3% 2.5% +0.2 1H 2001 1H 2002 Loans by rating + 510 bp 78.8% ASSET QUALITY The Internal Rating System proved to be effective... … in monitoring credit quality Group

11. Investor Relations 11 2000/2001 - Offer restructuring 2001 - CR FIRENZE Gestion International, 80% owned mutual fund factory (JV with Sanpaolo IMI) 2001 - Strong commitment to improve AUM Net inflows +20% Market share increased by 2.3% in Tuscany Euro mln Assets managed Mutual fund portfolio composition ASSET MANAGEMENT 2002 - Net inflows still positive AUM / Indirect funding ratio at 56.5% Ready to switch to equity portfolios as the market recovers

12. Investor Relations 12 Return on strategic shareholdings *Group - As at June 30, 2002 Net equity dedicated to strategic shareholdings* 31% **Estimated annual rate of return 16.5% 7% 4% 2% 1.5% STRATEGIC INVESTMENT Capital has been allocated to companies which have developed as market leaders

13. Investor Relations 13 Cost / Income ratio Personnel expenses Other expenses 1H 2002 figures are not fully comparables because changes in the scope of consolidation Strong commitment to reduce the present level COST / INCOME

14. Investor Relations 14 CONSOLIDATED 2002 INTERIM RESULTS Euro millions NET INTEREST INCOME Non-interest income Equity subsidiaries TOTAL INCOME OPERATING INCOME NET INCOME Total costs* Personnel expenses 1H 2001 pf 273.3 171.1 20.1 464.5 142.3 43.4 322.2 186.5 1H 2002 293.1 161.1 24.0 478.2 149.5 46.1 328.7 184.4 Change 7.3% - 5.8% 19.4% 3.0% 5.0% 6.3% 2.0% -1.2% * Goodwill amortization excluded