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MANAGING GROWTH IN A NEW LANDSCAPE 1 st <strong>CFO</strong> Summit Emerging Europe & CIS Carlo Vivaldi – <strong>CFO</strong> Bank Austria Vienna, 8 October 2008
A GLOBAL HIGHLY FRAGILE RISK ENVIRONMENT ... FREEZE-UP IN THE MONEY MARKETS 250 225 200 175 3M: Euribor vs OIS 3M: GBP Libor vs SONIA 3M: USD Libor vs. OIS basis point 150 125 100 75 50 25 0 Jun-07 Oct-07 Feb-08 Jun-08 Oct-08 Dislocations in financial markets persist as perceived counterparty risk in the financial system has risen to extreme level In the real economy signs of weakness now spreading from the US to Japan and Europe Uncertainty is reflecting in the high level of credit spreads 2 Note: OIS=Overnight Indexed Swap; LIBOR/EURIBOR=Inter-Bank Offer Rate; SONIA=Sterling Overnight Interbank Average Rate The difference is a measure of tension in the money market Source: Bloomberg, UniCredit Global Research
Page 1: Dies ist eine Financing Growth in E
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 and 12: CEE WILL BE THE MOST IMPORTANT RECI
Page 13 and 14: DESPITE AN ECONOMIC DEPENDENCY ON C
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

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