Annual Financial Statements 2011 of Bank Austria

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Notes to the Financial Statements of UniCredit Bank Austria AG 4.5. Related party transactions UniCredit Bank Austria AG has issued a guarantee in the amount of USD 1,125.3 m for loans to customers of Public Joint Stock Company “Ukrsotsbank”, Kiev. The guarantee was renewed until 10 January 2013 in the amount of USD 719.9 m. In this context UniCredit Bank Austria AG does not receive a guarantee commission in line with market conditions on account of the locally applicable central bank regulations. As part of the sale of UniCredit CAIB AG, UniCredit Bank Austria AG entered into a cooperation agreement. Essentially, the cooperation agreement provides that UniCredit Bank Austria AG has to use the services of UniCredit Bank AG for long-term financing purposes. 4.6. Securities Of UniCredit Bank Austria AG’s total holdings of securities as at 31 December 2011, financial fixed assets accounted for EUR 10,713,479,558.98 (31 December 2010: EUR 5,829,037 thsd) and current assets including the trading portfolio accounted for EUR 6,202,145,687.77 (31 December 2010: EUR 8,401,188 thsd). The Management Board decided to hold to maturity bonds issued by UniCredit S.p.A., Rome, and tranches retained from the bank’s own securitisation transactions. Therefore we transferred, from other current assets to fixed assets, bonds of UniCredit S.p.A in the nominal amount of EUR 4,980,000,000.00 at the market value of EUR 4,884,553,287.80 as at 31 July 2011 and retained tranches from the bank’s own securitisation transactions in the nominal amount of EUR 57,800,000.00 at the market value of EUR 39,159,871.52 as at 28 August 2011. 4.6.1. The following breakdown shows securities admitted to trading on an exchange: Listed Not listed 31 Dec. 2011 31 Dec. 2010 31 Dec. 2011 31 Dec. 2010 (in EUR) (in EUR '000) (in EUR) (in EUR '000) Bonds and other fixed-income securities 3,426,706,152.06 2,894,892 8,663,895,973.44 6,114,401 Shares and other variable-yield securities 45,645,368.86 56,853 451,390.04 3,383 Equity interests 349,283,328.84 280,858 0.00 0 Shares in group companies 2,928,662,298.31 3,155,878 0.00 0 Total 6,750,297,148.07 6,388,481 8,664,347,363.48 6,117,784 4.6.2. The following table shows securities admitted to trading on an exchange, broken down into fixed (long-term) and current assets: Fixed assets Current assets 31 Dec. 2011 31 Dec. 2010 31 Dec. 2011 31 Dec. 2010 (in EUR) (in EUR '000) (in EUR) (in EUR '000) Bonds and other fixed-income securities Shares and other variable-yield 8,560,315,738.43 3,219,178 3,530,286,387.07 5,790,115 securities 0.00 0 46,096,758.90 60,236 Total 8,560,315,738.43 3,219,178 3,576,383,145.97 5,850,351 The classification pursuant to Section 64 (1) 11 of the Austrian Banking Act is based on resolutions adopted by the Management Board. 4.6.3. Financial instruments carried as financial fixed assets for which the carrying amounts are higher than their fair values (Section 237a (1) 2 of the Austrian Business Code): Book value Unrecognised losses Book value Unrecognised losses 31 Dec. 2011 31 Dec. 2011 31 Dec. 2010 31 Dec. 2010 (in EUR) (in EUR) (in EUR thsd) (in EUR thsd) Treasury bills and similar securities Bonds and other fixed-income 307,542,617.88 -53,258,944.92 447,129 -103,843 securities Shares and other variable-yield 7,407,554,786.15 -843,208,268.91 1,810,908 -193,724 securities 94,340,000.00 -206,776.86 0 0 Equity interests Shares in group 25,337,083.70 -3,588,237.70 212,118 -66,687 companies 0.00 0.00 0 0 A regular impairment test was performed for these financial instruments. Within the item “Bonds and other fixed-income securities”, a direct write-down of EUR 2,849,917.08 on holdings of 4 % Bündelanleihe 05/12 was made in the reporting year. Analyses performed in respect of the other holdings did not provide any indication of impairment and therefore no further write-downs were required for 2011. Bank Austria – Annual Financial Statements 2011 220
Notes to the Financial Statements of UniCredit Bank Austria AG 4.7. Differences between cost and repayable amount of bonds and other fixed-income securities In the case of bonds and other fixed-income securities which are held as financial fixed assets and for which cost exceeds the amount repayable, the difference is amortised over the period to maturity pursuant to Section 56 (2) of the Austrian Banking Act. At yearend, the difference to be amortised over the remaining maturity amounted to EUR 8,114,058.75 (31 December 2010: EUR 19,058 thsd). In the case of bonds and other fixed-income securities which are held as financial fixed assets and for which cost is lower than the amount repayable, a write-up is made for the difference over the period to maturity pursuant to Section 56 (3) of the Austrian Banking Act. Until the balance sheet date, write-ups made in respect of such differences amounted to EUR 60,461,215.84 (31 December 2010: EUR 43,416 thsd). 4.8. Differences between cost and market value of securities admitted to trading on an exchange which are not held as financial fixed assets As at 31 December 2011, the market value of securities held in the trading portfolio was EUR 9,489.50 (31 December 2010: EUR 19 thsd) higher than cost. At the balance sheet date, the market value of listed securities held to comply with liquidity requirements was EUR 48,941,290.04 (31 December 2010: EUR 52,031 thsd) higher than the carrying amount. 4.9. Bonds becoming due in the subsequent year Assets held in the form of bonds and other fixedincome securities in the amount of EUR 4,481,922,144.86 (31 December 2010: EUR 530,764 thsd) will become due in 2012. Of the bonds issued, securities in the amount of EUR 4,744,145,375.91 (31 December 2010: EUR 3,630,706 thsd) will become due in 2012. 4.10. Trading book In the 2011 financial year, UniCredit Bank Austria AG maintained a trading book within the meaning of Section 22n-q of the Austrian Banking Act. The volume of the trading book amounted to EUR 84,895,707,696.75 (31 December 2010: EUR 107,251,491 thsd). Of this total, securities carried in the balance sheet account for EUR 538,500.07 (31 December 2010: EUR 87,405 thsd), money market instruments were EUR 808,341,525.98 (31 December 2010: EUR 11,214,320 thsd) and other financial instruments accounted for EUR 84,086,827,670.70 (31 December 2010: EUR 95,949,767 thsd). Securities and money market instruments were included at book value, and other financial instruments (financial derivatives) at the notional amounts. The inclusion of financial derivatives complies with the reporting guideline applicable to VERA (Report on Condition and Income), under which interest rate swaps and currency swaps as well as forward foreign exchange transactions are to be reported as assets or liabilities. Compared with transaction-based inclusion, this results in an additional volume of EUR 34,195,275,700.13. 4.11. Own shares There were no sales or purchases of UniCredit Bank Austria AG ordinary shares in 2011 (2010: no sales or purchases). As at 31 December 2011, UniCredit Bank Austria AG did not hold any of its own shares (31 December 2010: 0). 4.12. Shares in a controlling company In the reporting year, sales or purchases of UniCredit S.p.A. ordinary shares as part of customer business involved 28,320,406 shares (2010: 5,088 thsd shares). At the balance sheet date, Bank Austria did not hold any UniCredit S.p.A. shares (31 December 2010: 0). Bank Austria – Annual Financial Statements 2011 221
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