Annual Financial Statements 2011 of Bank Austria

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Management Report of UniCredit Bank Austria AG All4Quality and Blue IT In 2011, the outsourcing project "All4Quality" was implemented with a view to combining Global Banking Services (GBS) functions in a single company: UniCredit Business Integrated Solution Austria GmbH (UBIS). For this purpose UGIS Austria GmbH was established on 19 May 2011 as a subsidiary of UniCredit Bank Austria AG. As part of the establishment of this company, UniCredit Bank Austria AG sold its interests in UGIS Austria GmbH and UCBP Austria GmbH to the respective holding company (UGIS SCpA and UCBP SCpA). UniCredit Bank Austria AG sold Bank Austria Global Information Services GmbH (BAGIS) to UGIS Austria GmbH with effect from 1 July 2011. Procurement and Security were outsourced to UGIS Austria GmbH with effect from 1 December 2011. In respect of both areas, strategic control, management of access authorisation for banking systems, management of IT security guidelines and the definition of requirements for IT security as well as business continuity and crisis management remained within Bank Austria. In this context, 65 employees (57.6 FTEs) were transferred to UniCredit Bank Austria AG. The name of UGIS Austria GmbH was changed to UBIS Austria GmbH with effect from 1 February 2012. At the same time, UCBP Austria GmbH merged with UBIS Austria GmbH. UBIS Austria GmbH focuses on providing data processing and settlement services for Bank Austria. At present work is under way to draw up new service level agreements (SLAs) / agency agreements and organisation level agreements (OLAs) for Procurement and Security. In respect of the other areas which have been outsourced, the SLAs and OLAs originally agreed with UCBP Austria GmbH and UGIS Austria GmbH will remain effective on a legal succession basis. Some units of software development and of the computer operations centre were outsourced to Blue IT Services GmbH, a subsidiary of IBM Austria, with effect from 1 July 2011. While reducing costs and enhancing efficiency, this move also helped to avoid job reductions. 1.3. Branches On 29 December 2006, UniCredit Bank Austria AG set up a permanent establishment in Milan, Via Tortona 33, which is exclusively engaged in the management of equity interests of UniCredit that were transferred by way of contribution in kind. Therefore these activities are not banking activities. 1.4. Financial and non-financial performance indicators Financial performance indicators 2011 2010 2009 2008 2007 Tier 1 capital ratio (based on banking book) 21.3% 21.0% 19.7% 18.7% 20.1% Return on equity before taxes -2.7% 0.3% 0.0% 0.0% 12.3% Return on equity after taxes -3.4% 0.0% 0.0% 0.0% 12.2% Cost/income ratio 66.5% 57.2% 67.8% 70.1% 48.5% Risk/earnings ratio 27.6% 33.7% 38.3% 18.1% 10.0% Risk/earnings ratio (without dividends) 37.7% 51.6% 54.9% 33.6% 18.3% Definitions of performance indicators Tier 1 capital ratio: regulatory Tier 1 capital divided by riskweighted assets (banking book) pursuant to the Austrian Banking Act (Bankwesengesetz – BWG) Return on equity before taxes: annual surplus before taxes divided by average equity Return on equity after taxes: annual surplus divided by average equity Equity: subscribed capital, capital reserves, revenue reserves, reserve pursuant to Section 23 (6) of the Austrian Banking Act, untaxed reserves Average equity: equity as at 1 January of the reporting year + equity as at 31 December of the reporting year divided by 2 Cost/income ratio: general administrative expenses (including depreciation) divided by operating income including the balance of other operating income/expenses Risk/earnings ratio: net income/expenses from the disposal and valuation of loans and advances divided by net interest income including income from securities and equity interests Non-financial performance indicators Branch network 2011 2010 2009 2008 2007 Domestic branches 273 281 291 304 313 Foreign branches (without banking business) 1 1 1 1 1 Outlets at companies 1 1 1 3 7 Head office 1 1 1 1 1 Total 276 284 294 309 322 Employees Under the place-of-work principle applied to UniCredit Bank Austria AG and its subsidiaries, staffing levels and staff costs are recorded by those companies in which the employees work. 31 Dec. 2011 Annual average for 2011 31 Dec. 2010 31 Dec. 2009 31 Dec. 2008 31 Dec. 2007 Headcount 1) of which; workers other than 6,935 6,933 6,839 6,613 6,599 7,236 salaried staff 0 0 0 0 0 0 Full-time equivalents 1) of which: workers other than 6,540 6,559 6,469 6,097 6,072 6,711 salaried staff 0 0 0 0 0 0 1) excluding apprentices and employees on unpaid maternity/paternity leave but including workers other than salaried staff and delegated employees under the “place-of-work principle” Bank Austria – Annual Financial Statements 2011 192
Management Report of UniCredit Bank Austria AG Human Resources Human Resources management sees its role as initiating and driving change processes. We are seeking to create an environment in which employees generate sustainable value for our customers. The Global Job Model, a Group-wide personnel management system used for defining and classifying all functions and activities within UniCredit, and the UniCredit Competency Model, which defines standards for employee conduct in key situations, serve as guiding principles for our human resources activities. We offer our employees a working environment with an international flavour while benefiting from diversity through international exchange and in daily cooperation. We also aim to be a great place to work for our future employees. In November 2009, we launched the “BestStart“ training initiative to offer job opportunities. A total of 126 training positions were filled in 2011. A new onboarding process is designed to welcome new employees and to make it easier for them to find their feet in our company. This includes the organisation of a welcome event entitled “Welcome Days”, providing employees with all the information they need, and a coordinated “Buddy programme”. Structured training programmes and training on the job provide our BestStarters with broad banking know-how within a short time and give them an opportunity to apply acquired knowledge in practice. In addition, we support customer sales activities through strategic staff planning initiatives, such as the internal “Movement Management” programme that will be implemented in 2012. This ensures the optimum deployment of employees while increasing customer centricity. The Executive Development Programme (EDP) and our Talent Management focus on strategic and individual personnel planning for executives and talents. Attention is given to ongoing development of management potential from within the bank while successively raising the percentage of female managers. Realigned in 2011, the national mentoring programme, through networking and an exchange of knowledge, is a further measure for supporting young employees in developing their potential in terms of career and personal development. The roll-out of the new SAP-supported Performance Management tool for Bank Austria enables the bank for the first time to electronically capture and archive goals and performance evaluations as well as feedback given by managers to employees in their area of responsibility. Priority is given to providing greater transparency for both managers and employees while giving both the possibility to play a more active role in defining further potential for development and career steps. Performance Management thus makes a substantial contribution to the bank’s corporate culture based on respect. In April 2011, the international CRF Institute presented UniCredit with the European Top Employer 2011 award for outstanding HR services in five countries in which UniCredit operates: Austria, Germany, Italy, Poland and the United Kingdom. Sustainability management Sustainability and responsibility with all their aspects are becoming increasingly significant factors in the business sector. The objective of Corporate Sustainability is to promote the integration of the social, ecological and economic dimensions of sustainability in Bank Austria. With a view to giving effect to entrepreneurial responsibility and the sustainability objective, Corporate Sustainability is responsible for executing and communicating a wide range of activities. Cultivating relationships with stakeholders on an ongoing basis is an essential task. In the current critical environment, Corporate Sustainability provides strong impetus to reputation-related measures, with a focus on long-term orientation, credibility and customer relationships. In this context, Corporate Sustainability acts as moderator of the dialogue with stakeholders. “BankAustria- NachhaltigkeitsKreis” is an important forum for these activities. Maintaining a dialogue with customers, the bank is also in direct contact with its most important stakeholders, discussing with them such topics as sustainability, innovation and customer satisfaction. Other Corporate Sustainability activities range from sponsoring and public events in cooperation with non-governmental organisations and educational and research institutions, e.g. under the “Sharing knowledge” and “Business meets the environment” programmes. Financial education is another important area in which Bank Austria launched an initiative. Environmental management system certified in accordance with ISO 14001 In May 2011, Bank Austria became the first commercial bank in Austria to implement an environmental management system in accordance with ISO 14001. The bank also had the system audited by Quality Austria, an external organisation; the audit took several days to complete. In contrast to many other companies, Bank Austria decided to set up an environmental management system that covers the head office buildings and all branches. While this involves significant challenges in implementing the system, it shows that Bank Austria attaches great importance to ecological sustainability and the careful use of resources. The establishment of the environmental management system ensures ongoing monitoring and control of major direct environmental impacts. This provides the basis for continuous improvement. The bank aims to further expand the range of sustainable products and services. In 2011, in addition to sustainable mutual funds of Pioneer Investments, Bank Austria again offered a savings product under the name of “Bau(m)sparen”, which combines a classic building society savings agreement with the possibility of actively contributing to the protection of rainforests. The bank also continued to organise seminars on “Energy-efficient construction and renovation”, which remain very popular. Bank Austria – Annual Financial Statements 2011 193
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Annual Financial Statements 2011 of Bank Austria

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