UniCredit Bank AG

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Financial Statements (2) | Consolidated Financial Statements Notes to the Consolidated Financial Statements Consolidated financial statements in accordance with IFRS As a globally active company, we prepare the financial statements in accordance with the requirements of the International Accounting Standards Board (IASB). This gives our shareholder and all other interested parties a reliable and internationally comparable basis for evaluating the HVB Group and its profitability. Our value-based management is similarly based on these accounting principles. The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) pursuant to Commission Regulation 1606/2002 of the European Parliament and of the Council of 19 July 2002 together with further regulations regarding the adoption of certain IFRSs within the framework of the EU endorsement in conjunction with Section 315a (1) of the German Commercial Code (Handelsgesetzbuch – HGB) as non-exempt consolidated financial statements compliant with Section 4 of the IAS Regulation. Besides the standards defined as IFRS, the IFRSs also comprise the existing International Accounting Standards (IAS) together with the interpretations of the International Financial Reporting Interpretations Committee (IFRIC) and the former Standing Interpretations Committee (SIC). All the standards and interpretations subject to mandatory adoption in the EU for the 2009 financial year have been applied. Section 315a of the German Commercial Code also contains national regulations to be applied alongside the IFRS by companies active on the capital market. The statement regarding the Corporate Governance Code required by Section 161, German Stock Corporation Act (Aktiengesetz – AktG), has been published on our website at www.hvb.com/declarationofconformity. Our listed subsidiaries DAB Bank AG and AGROB Immobilien AG have posted an equivalent statement on their websites. The Management’s Discussion and Analysis meets the requirements of Section 315 (1, 2) of the German Commercial Code. Also incorporated is a risk report pursuant to Section 315, German Commercial Code. Compliant with Section 264b of the German Commercial Code, the following companies are exempted from the obligation to prepare a management report and to publish their annual financial statements: – HVZ GmbH & Co. Objekt KG, Munich – Salvatorplatz-Grundstücksgesellschaft mbH & Co. OHG Verwaltungszentrum, Munich – Hypo-Bank Verwaltungszentrum GmbH & Co. KG Objekt Arabellastraße, Munich – Portia Grundstücks-Verwaltungsgesellschaft mbH & Co. Objekt KG, Munich – A & T-Projektentwicklungs GmbH & Co. Potsdamer Platz Berlin KG, Munich – Acis Immobilien- und Projektentwicklungs GmbH & Co. Stuttgart Kronprinzstraße KG, Munich – Acis Immobilien- und Projektentwicklungs GmbH & Co. Oberbaum City KG, Munich – Acis Immobilien- und Projektentwicklungs GmbH & Co. Parkkolonnaden KG, Munich – Delpha Immobilien- und Projektentwicklungs GmbH & Co. Großkugel Bauabschnitt Alpha Management KG, Munich – Delpha Immobilien- und Projektentwicklungs GmbH & Co. Großkugel Bauabschnitt Beta Management KG, Munich – Delpha Immobilien- und Projektentwicklungs GmbH & Co. Großkugel Bauabschnitt Gamma Management KG, Munich – Grundstücksgesellschaft Simon beschränkt haftende Kommanditgesellschaft, Munich – HVB Gesellschaft für Gebäude mbH & Co. KG, Munich – HYPO-REAL Haus- und Grundbesitz Gesellschaft mbH & Co. 1. Vermietungs KG, Munich – Othmarschen Park Hamburg GmbH & Co. Centerpark KG, Munich – Othmarschen Park Hamburg GmbH & Co. Gewerbepark KG, Munich – SOLARIS Verwaltungsgesellschaft mbH & Co. Vermietungs KG, Munich – Solos Immobilien- und Projektentwicklungs GmbH & Co. Sirius Beteiligungs KG, Munich – TERRENO Grundstücksverwaltung GmbH & Co. Entwicklungs- und Finanzierungsvermittlungs KG, Munich. Compliant with Section 264 (3) of the German Commercial Code, the following companies are exempted from the obligation to publish their annual financial statements: – Argentaurus Immobilien Vermietungs- und Verwaltungs GmbH, Munich – GIMMO Immobilien-Vermietungs- und Verwaltungs GmbH, Munich – HVB Immobilien AG, Munich – HVB Projekt GmbH, Munich – HVB Tecta GmbH, Munich – Interra Gesellschaft für Immobilienverwaltung mbH, Munich – Orestos Immobilien- Verwaltungs GmbH, Munich. F-9 96 2009 Annual Report · HypoVereinsbank
Accounting and Valuation 1 Uniform Group accounting policies The separate financial statements of the domestic and foreign subsidiaries are incorporated in our consolidated financial statements in accordance with uniform principles of accounting and valuation. Where options have been exercised, the details are explained under the balance sheet items concerned. 2 Consistency In accordance with the IFRS Framework for the presentation of financial statements together with IAS 1 and IAS 8, we apply the accounting and disclosure principles consistently from one period to the next. Where accounting and valuation errors from earlier periods are corrected, the amounts involved are adjusted against retained earnings. Where we effect changes in accounting policies, any resulting adjustments are similarly recognised retrospectively. Changes in estimates are recognised in net income for the period affected by the change in the estimation method, or – where the change in the estimation method does not affect the income statement – the carrying amount of the concerned asset or liability, or shareholders’ equity position, is adjusted. The consolidated financial statements are prepared under the assumption of a going concern. Accounting and valuation in accordance with IFRS contains values that have been determined properly using estimates and assumptions. The estimates and assumptions applied are based on past experience and other factors such as budgets, expectations and forecasts regarding future events which seem appropriate under the present circumstances. This mainly affects the determination of the fair value of certain financial assets and liabilities, net write-downs of loans and provisions for guarantees and commitments, deferred taxes and the accounting and valuation of provisions. The actual values may differ from the assumptions and estimates made. The disclosure of deposits with central banks was changed in the balance sheet for the first time in the Half-yearly Financial Report for 2009 compliant with IAS 1.68 (I) in conjunction with IAS 8.41. Thus, the cash balances at central banks are shown under “Cash and cash balances” in line with the industry’s usual disclosure practice, and no longer under “Loans and receivables with banks” as before. In addition, we changed the disclosure of income and expenses relating to the valuation and realisation gains of private equity funds as well as direct and co-investments in the income statement compliant with IAS 8.41 for the first time in the Interim Report at 30 September 2009. These contributions to earnings are now reported under the item “Net income from investments” in the income statement and not under the item “Net trading income” as previously. Compliant with IAS 8.43, both changes have been made retrospectively. The comparison figures for the previous year and the previous quarters have been adjusted accordingly. We applied fair value hedge accounting for credit risks (micro fair value hedge) for the first time in 2009. Compliant with IAS 39.86 (a), we use hedging instruments to hedge credit-induced risks that change the fair value of the hedged item. In doing so, we hedged the credit risks of selected hedged items such as loans and receivables with customers and irrevocable credit commitments (fixed obligations not recognised in the balance sheet) using credit default swaps (CDS). Mostly in the first quarter of 2009, further financial assets held for trading, for which there was no active market at the time of reclassification, were prospectively reclassified as loans and receivables compliant with IAS 39.50 et seq. as was the case in 2008. For the most part, this relates to Pfandbriefs, government bonds and bank bonds. The intention to trade no longer exists with regard to the reclassified assets. Given the high quality of the assets concerned, HVB Group intends to retain the assets for a longer period. We have not reclassified any holdings from the available-for-sale portfolio. Apart from this, the accounting and valuation principles applied in 2009 are the same as those applied in the consolidated financial statements for 2008, with the exception of the new IFRS rules to be applied as described in Note 3 below. F-10 HypoVereinsbank · 2009 Annual Report 97
Page 1 and 2: This document constitutes a registr
Page 3 and 4: Statement of Changes in Shareholder
Page 5 and 6: enewed turmoil on the financial mar
Page 7 and 8: HVB Group is responsible for the re
Page 9 and 10: RESPONSIBILITY STATEMENT UniCredit
Page 11 and 12: Fitch's long-term credit ratings ar
Page 13 and 14: HVB's customers are divided into th
Page 15 and 16: Gerhard Bayreuther, Neubeuern (1) A
Page 17 and 18: Consolidated Income Statement and E
Page 19 and 20: economic crisis. This can be viewed
Page 21 and 22: claim against the customer to repay
Page 23 and 24: June 2007 (to assert alleged claims
Page 25 and 26: (Konzernanhang) - Auditor's Certifi
Page 27 and 28: Statement of Other Comprehensive In
Page 29 and 30: Liabilities NOTES 2009 2008 CHANGE
Page 31 and 32: (€ millions) CHANGE IN VALUATION
Page 33: (€ millions) 2009 2008 Cash and c
Page 37 and 38: - European-Office-Fond, Munich - So
Page 39 and 40: Among other things, the balance she
Page 41 and 42: Embedded derivatives Outside the po
Page 43 and 44: 10 Available-for-sale financial ass
Page 45 and 46: 15 Property, plant and equipment Pr
Page 47 and 48: Furthermore, shares held by other i
Page 49 and 50: Several changes were made to the se
Page 51 and 52: In the fourth quarter of 2009, we r
Page 53 and 54: Income statement of the Corporate &
Page 55 and 56: Income statement of the Wealth Mana
Page 57 and 58: 30 Employees, broken down by operat
Page 59 and 60: 35 Net other expenses/income (€ m
Page 61 and 62: Analysis of outstanding performance
Page 63 and 64: Net income from investments breaks
Page 65 and 66: German corporations are generally c
Page 67 and 68: The available-for-sale financial as
Page 69 and 70: The figures stated for loans and re
Page 71 and 72: (€ millions) 2009 2008 Loans and
Page 73 and 74: Breakdown of allowances for receiva
Page 75 and 76: 54 Investment property The fair val
Page 77 and 78: Development of intangible assets (
Page 79 and 80: ISSUER TRANSACTION NAME UniCredit B
Page 81 and 82: 63 Financial liabilities held for t
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The cumulative actuarial gains reco
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Subordinated liabilities The borrow
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Other Information 73 Application of
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Positions retained from own securit
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Positions retained from own securit
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Positions held by fully consolidate
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76 Fair values of financial instrum
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Credit commitments and financial gu
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The following table shows the recon
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80 Statement of responsibility UniC
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84 Information on relationships wit
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Compensation of members of the Supe
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87 Offices Offices, broken down by
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89 Members of the Management Board
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Auditor’s Report We have audited
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Income (€ millions) 2009 2008 1 I
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Liabilities (€ millions) 31/12/20
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Investment securities are valued in
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Notes to the Balance Sheet Breakdow
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Marketable debt and equity securiti
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WRITE-UPS DURING FINANCIAL YEAR 5 D
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Participating certificates outstand
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Authorised capital increase YEAR AU
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Other Information Contingent liabil
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Derivative financial instruments De
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List of Executives and Outside Dire
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Supervisory Board NAME OCCUPATION P
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List of employees and outside direc
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Mortgage bonds outstanding and cove
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Loans and receivables used to cover
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Interest in arrears Interest in arr
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Auditor’s Report We have issued t
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The core capital ratio (Tier 1 rati
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Financial situation Total assets Th
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The corporate mood has again lighte
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Breakdown of credit exposure and co
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Liquidity risk The recovery of the
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Statement of Other Comprehensive In
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Liabilities NOTES 31/3/2010 31/12/2
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Change in valuation of financial in
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Notes to the Income Statement 3 Seg
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Income statement of the Retail divi
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Income statement of the Other/conso
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9 Net income from investments (€
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15 Held-to-maturity investments (
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21 Deposits from customers (€ mil
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27 Members of the Supervisory Board
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UniCredit Bank AG

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