Annual Financial Statements 2011 of Bank Austria

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Notes to the Financial Statements of UniCredit Bank Austria AG Under a commitment to provide defined benefits, UniCredit Bank Austria AG continues to recognise a pension provision for the entitlements of employees who retired before the pension reform as at 31 December 1999 became effective, and – as a special feature of UniCredit Bank Austria AG’s staff regulations – for the future benefits equivalent to those under mandatory insurance, earned by active employees and pensioners for whom UniCredit Bank Austria AG has assumed the obligations of the mandatory insurance scheme pursuant to Section 5 of the Austrian General Social Security Act (ASVG). The following are also covered by the provision: � disability risk and rights to future benefits based on early retirement and pension entitlements of surviving dependants, less reimbursement from the pension funds, � pension entitlements based on direct benefit commitments contained in individual employment contracts, and � rights to future benefits relating to additional pension payments for employees performing manual work. The present value of pension obligations and severance-payment obligations and of anniversary bonuses is determined with due regard to internal service regulations, on the basis of the following actuarial assumptions: � Discount rate: 5.25% p.a. (2010: 5.00% p.a.) � Increases under collective bargaining agreements: 2.45% p.a. (2010: 2.45% p.a.) (assumption of increases for employees and pensioners) � Career trends including regular salary increases under the current collective bargaining agreement for employees of Austrian banks and the effects of the transitional rules under the 2005 reform of UniCredit Bank Austria AG’s service regulations. The rate applied in calculating non-regular salary increases was 0.25% p.a. (2010: 0.25% p.a.). (Assumption of increases for employees.) � No discount for staff turnover � Retirement age: for employees enjoying “permanent tenure” status under the internal service regulation on the payment of a Bank Austria pension equivalent to a mandatory socialsecurity pension, dated 30 December 1999 (as amended on 1 May 2007), the retirement age is 60 for men and 55 for women, with the transition to the retirement age of 65 being taken into account. For all other staff members the new retirement age of 65 – for both men and women – under the applicable rules (2003 Pension Reform) was taken into account, with the transitional rules of the 2003 Pension Reform. If the corridor pension rule results in a lower retirement age, the lower age was used as retirement age. � 2008 P statistical tables for salaried staff (Aktuarverein Österreich, life expectancy tables for salaried staff) No provisions are made for defined-contribution plans. Payments agreed to be made to a pension fund for defined-contribution plans are recognised as an expense. 3. Changes in accounting and valuation methods, reclassifications The AFRAC position paper of September 2010 on accounting for derivative financial instruments and hedging transactions was applied for the first time in the 2011 financial year. With regard to interest rate risk management in the banking book, however, use was made of the FMA’s grandfathering rule: derivatives used for interest rate risk management were not valued on an individual basis but the bank continued not to recognise negative market values of derivatives as long as a portfolio view shows that undisclosed reserves arising from interest rate management instruments predominate in the banking book. For hedging relationships of derivatives and structured issues (micro hedges), valuation units within the meaning of the AFRAC position paper of September 2010 were formed for the first time as these instruments were reclassified from the trading book to the banking book (see item 4.22). Bank Austria – Annual Financial Statements 2011 218
Notes to the Financial Statements of UniCredit Bank Austria AG 4. Notes to the balance sheet 4.1. Breakdown by maturity Breakdown by maturity 31 Dec. 2011 31 Dec. 2010 (in EUR) (in EUR '000) Loans and advances to credit institutions up to three months 6,577,750,478.16 3,131,264 over three months and up to one year 3,246,298,226.99 5,277,758 over one year and up to five years 6,820,798,003.46 6,130,480 over five years 5,331,046,954.51 5,484,296 Loans and advances to customers up to three months 7,826,245,261.50 6,588,133 over three months and up to one year 4,259,374,703.88 3,506,446 over one year and up to five years 14,008,612,187.31 13,791,843 over five years 38,535,647,457.74 38,177,479 Amounts owed to credit institutions up to three months 8,800,621,109.17 6,342,569 over three months and up to one year 3,166,732,685.07 2,110,402 over one year and up to five years 7,719,885,646.86 7,256,483 over five years 8,744,274,960.15 9,794,266 Amounts owed to customers a) Savings deposits *) up to three months 1,321,657,749.92 1,467,780 over three months and up to one year 4,014,647,248.94 4,339,532 over one year and up to five years 3,942,403,300.04 3,658,938 over five years 2,344,882,971.51 2,308,512 b) Other amounts owed to customers up to three months 3,707,975,453.36 3,727,425 over three months and up to one year 2,456,920,734.90 6,178,328 over one year and up to five years 2,800,638,355.23 1,593,141 over five years 1,154,271,587.52 1,304,194 Other debts evidenced by certificates up to three months 604,008,305.22 1,632,691 over three months and up to one year 203,016,455.25 419,808 over one year and up to five years 3,313,016,552.50 1,633,359 over five years 2,288,105,748.71 4,644,129 *) For savings deposits, the expected deposit period was used as the remaining period pursuant to Section 25 of the Austrian Banking Act. Recognised statistical methods were used for the calculation. 4.2. Assets and liabilities denominated in foreign currencies As at 31 December 2011, foreign currency assets amounted to EUR 26,349,032,111.31 or 21.08 % of total assets (31 December 2010: EUR 28,106,914 thsd or 23.23 % of total assets). Foreign currency liabilities amounted to EUR 28,074,506,252.35 or 22.46 % of the balance sheet total (31 December 2010: EUR 28,186,104 thsd or 23.29 % of the balance sheet total). 4.3. Loans and advances to, and amounts owed to, group companies and companies in which an equity interest is held Group companies Companies in which an equity interest is held Key management personnel 31 Dec. 2011 31 Dec. 2010 31 Dec. 2011 31 Dec. 2010 31 Dec. 2011 31 Dec. 2010 (in EUR) (in EUR '000) (in EUR) (in EUR '000) (in EUR) (in EUR '000) Loans and advances Loans and advances to credit institutions Loans and advances to 19,360,316,248.00 19,081,130 864,520,154.00 749,019 0.00 0 customers Bonds and other fixed-income 7,289,870,484.00 7,290,421 851,703,997.00 520,289 1,716,374.00 1,568 securities 7,288,058,615.98 4,495,446 67,630,450.45 0 0.00 0 Amounts owed Amounts owed to credit institutions 14,905,770,758.00 18,329,513 11,364,150,662.00 11,611,853 0.00 0 Amounts owed to customers 943,063,798.00 6,944,858 217,522,040.00 228,128 7,598,440.00 6,226 4.4. Group companies and companies in which an equity interest is held Those companies in which UniCredit Bank Austria AG holds at least 20% of the share capital – directly or through group companies – are listed in the notes to the financial statements (Annex 1) pursuant to Section 238, item 2, of the Austrian Business Code. Most of the business relations with group companies were customary banking relationships. Equity capital substitutes were used for some financings. At the balance sheet date, UniCredit Bank Austria AG maintained single entity agreements for tax purposes with the following companies: � BA Immobilien Entwicklungs- und Verwertungs GmbH � BA-CA Markets & Investment Beteiligung GmbH � Bank Austria Finanzservice GmbH � Bank Austria Real Invest GmbH � Bank Austria Wohnbaubank AG � CABET Holding AG � card complete Service Bank GmbH � Domus Facility Management GmbH � FactorBank AG � Human Resources Service and Development GmbH � MC Marketing GmbH � MY Beteiligungs GmbH � RE St.Marx Holding GmbH � UniCredit Turn-Around Management GmbH � ZETA Fünf Handels GmbH Bank Austria – Annual Financial Statements 2011 219
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