Including the impacts of the costs forecast for the implementation of the 2019/2020 Business Plan recognised “up front” from June 2016 (€850 million net approx.), the extraordinary contributions to the Resolution Fund (€50.4 million net) and the write-down of the Atlante Fund (€52.9 million net) are all included, then 2016 ends with a loss of €830.2 million (a profit of €116.8 million in 2015).

Net of the impacts of the 2019/2020 Business Plan and of extraordinary items, the year 2016 ended with a normalised profit of €111.6 million, affected by a significant reduction in the contribution from finance activities (€153.7 million compared with €290.6 million in 2015) and higher ordinary contributions to the Resolution Fund and to the Deposit Guarantee Scheme amounting to €33.2 million in 2016. This compares with a normalised profit of €189 million in 2015.

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The effect of the Purchase Price Allocation on FY2016 reclassified income statement was negative by approximately 18.6 million euro. It was allocated as follows: -19.7 million euro on net interest income, -10.6 million euro on net impairment losses on property, plant and equipment and intangible assets, +10 million euro on taxes and +1.7 million euro on profit attributable to minorities.

The items in the table below already include the effect of the Purchase Price Allocation.