Download (PDF) - CFO Insight

More documents

Recommendations

Info

AGENDA The new scenario: increased importance of commercial franchise CEE economic and financial perspectives UniCredit strategic commitments in CEE 11
DESPITE AN ECONOMIC DEPENDENCY ON CAPITAL INFLOWS, MAJOR CEE COUNTRIES ARE RESILIENT TO A STRESS SCENARIO ... DEPENDENCY ON CAPITAL INFLOW 700 Ukraine The level of the cost of risk is different in the area Cost of risk (1) 600 500 400 300 200 100 0 Russia Turkey Serbia Romania Lithuania Hungary Croatia Poland Czech Rep. Slovakia Kazakhstan Latvia Estonia Bulgaria 0 0.2 0.4 0.6 0.8 1 Most CEE countries can rely on low level of external debt In a stress scenario (3) , major CEE countries would be more resilient – on average GDP reduced by less than 1% – than some of the major western countries (e.g. UK and Spain) Sensitivity to capital inflows: (2) 12 Note: (1) Cost of Risk is calculated as CDS of the country as of 29/09/2008 (2) Calculated as (Current Account – FDI (excluding RE & Financial Sector)) / VA in tradable sectors + Imports - Exports (3) A scenario implying a relevant reduction of capital inflows. Source: Bloomberg, local CBs, UniCredit Group CEE Research Network
Page 1 and 2: Dies ist eine Financing Growth in E
Page 3 and 4: A GLOBAL HIGHLY FRAGILE RISK ENVIRO
Page 5 and 6: ... EVEN IF POSITIVE SIGNALS COME F
Page 7 and 8: LOOKING AT BANKING, THE EUROPEAN LA
Page 9 and 10: THE NEW LANDSCAPE IS FAVOURING LARG
Page 11: CEE WILL BE THE MOST IMPORTANT RECI
Page 15 and 16: BUT CEE REGION CAN RELY ON SOLID GR
Page 17 and 18: ... AND CAN RELY ON A CONTINUOUS LE
Page 19 and 20: ... WITH SIGNIFICANT OPPORTUNITIES
Page 21 and 22: AGENDA The new scenario: increased
Page 23 and 24: ... AS THE GROUP CAN ENJOY AN UNRIV
Page 25 and 26: ... THROUGH THE DEVELOPMENT OF GLOB
Page 27: MANAGING GROWTH IN A NEW LANDSCAPE

Download (PDF) - CFO Insight

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?