Annual Financial Statements 2011 of Bank Austria

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Consolidated Financial Statements in accordance with IFRSs D – Segment reporting (CoNTINuED) D.2 – Description of segment reporting The segment reporting format is based on the internal reporting structure of business segments, which reflects management responsibilities in the Bank Austria Group in 2011. The business segments are presented as independent units with their own capital resources and responsibility for their own results. This also meets the requirements of IFRS 8. Starting with the reporting period in 2011, segment reporting was adjusted to the new structure of the Group’s income statement. Goodwill impairment and the Purchase Price Allocation effect are now shown immediately before net profit attributable to the owners of Bank Austria. The definition of business segments is primarily based on organisational responsibility for customers. Family & SME Banking Responsibility for the Family & SME Banking segment covers Bank Austria’s business with private customers (except Private Banking customers) and small and medium-sized enterprises (SMEs) with a turnover of up to € 50 m. Also included in this Division are the credit card business and factoring business. Private Banking Private Banking has responsibility for private customers with investments exceeding € 500,000. Schoellerbank AG and various other small subsidiaries are also included in the Private Banking Division. Corporate & Investment Banking The Corporate & Investment Banking segment covers the product lines Financing & Advisory (classic and structured lending business and capital market advisory services), Global Transaction Banking (including payment transactions, trade finance, cash management) and Markets (Treasury). Control is performed through a matrix organisation based on customer segments: international corporates, corporate customers whose turnover exceeds € 50 m, real estate, public sector and financial institutions. The Corporate & Investment Banking segment includes a number of subsidiaries – e.g. the Bank Austria Real Invest Group, Bank Austria Wohnbau- bank AG and smaller subsidiaries in CEE countries with a focus on investment banking – as consolidated companies. Central Eastern Europe (CEE) The CEE business segment includes the commercial banking units of the Bank Austria Group in the region of Central and Eastern Europe (including Turkey and Kazakhstan). Corporate Center The Corporate Center comprises all equity interests that are not assigned to other segments and it also includes the contribution from UniCredit Leasing, in which Bank Austria has a shareholding interest of 31.01% accounted for under the equity method. Funding costs relating to consolidated subsidiaries and equity not allocated to business segments are also assigned to the Corporate Center. Also included are inter-segment eliminations, other items which are not to be assigned to other business segments, and impairment losses on goodwill. Methods Net interest is split up according to the market interest rate method. Costs are allocated to the individual business segments from which they arise. The result of each business segment is measured by the profit earned by the respective segment. The interest rate applied to investment of equity allocated to the business segments is determined for one year in advance as part of the budgeting process. It is composed of a “risk-free” interest rate plus a margin of the historical average (6 years) of the 5-year CDS spread of UniCredit. Overhead costs are allocated to the business segments according to a key of distribution applied within the Group on a uniform basis (50% costs, 20% revenues, 20% FTEs and 10% proportionately). In 2011, capital allocated to the business segments in UniCredit Bank Austria AG, based on the Tier 1 capital ratio, is 7% of risk-weighted assets of the preceding quarter. Capital allocation to subsidiaries reflects actual IFRS capital. The adjustment item with respect to the consolidated IFRS capital of the Bank Austria Group is reflected in the Corporate Center. Bank Austria · Annual Financial Statements 2011 126
Consolidated Financial Statements in accordance with IFRSs Recasting: A number of structural changes took place within the business segments and in the group of consolidated companies. This means that results for 2011 are not fully comparable with those for 2010. For this reason, the segment results for 2010 have been adjusted to the new structure. The difference compared with Bank Austria’s overall results is presented in a separate column showing “Recasting differences”. The main pro-forma adjustments are as follows: • UniCredit CAIB AG and UniCredit CAIB Securities UK Ltd. were sold to UniCredit Bank AG (the former Bayerische Hypo- und Vereinsbank AG), Munich, in June 2010. The result of the Corporate & Investment Banking segment for 2010 was therefore adjusted for this effect. • UniCredit CAIB Securities Romania SA was transferred from CEE to Corporate & Investment Banking. • In January 2011, business with small and medium-sized enterprises (SMEs) with a turnover between € 3 m and € 50 m was transferred from the Corporate & Investment Banking segment to Family & SME Banking. As part of this transfer of customers, FactorBank AG was also transferred from Corporate & Investment Banking to Family & SME Banking. The relevant comparative figures for 2010 were also recast. • Bank Austria Global Information Services GmbH was sold to UniCredit Global Information Services in June 2011. Bank Austria Global Information Services is therefore also no longer included in the segment result of the Corporate Center in the third and fourth quarters of 2010. Bank Austria · Annual Financial Statements 2011 127
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Annual Financial Statements 2011 of Bank Austria

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