Annual Financial Statements 2011 of Bank Austria

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Financial Statements for 2011 Translation of the facsimile on pages 246 to 248 / Auditors’ Report on the Financial Statements for 2011 UniCredit Bank Austria AG Financial Statements for 2011 Report on the Financial Statements The Austrian Savings Bank Auditing Association and KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Vienna, have audited the accompanying financial statements of UniCredit Bank Austria AG for the financial year from 1 January 2011 to 31 December 2011 including the accounting records. These financial statements comprise the balance sheet as at 31 December 2011, the profit and loss account for the financial year ended 31 December 2011, and the notes. Management’s Responsibility for the Financial Statements and for the Accounting UniCredit Bank Austria AG’s management is responsible for the accounting system and the preparation of financial statements which present fairly, in all material respects, the financial position of UniCredit Bank Austria AG and its financial performance in accordance with Austrian Generally Accepted Accounting Principles. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements of UniCredit Bank Austria AG that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditors’ Responsibility and Description of the Type and Scope of the Statutory Audit The responsibility of the Austrian Savings Bank Auditing Association and of KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Vienna, is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with laws, regulations and principles governing an audit of financial statements which are applicable in Austria and Austrian Standards on Auditing. Those standards require that we comply with professional guidelines and that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. This report has been translated from German into English for reference purposes only. Please refer to the official legally binding version as written and signed in German. Only the German version is definitive. Bank Austria – Annual Financial Statements 2011 242
Financial Statements for 2011 An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the preparation and fair presentation of the financial position and financial performance of UniCredit Bank Austria AG in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of UniCredit Bank Austria AG’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion Our audit did not give rise to any objections. Based on the results of our audit in our opinion, the financial statements comply with the legal provisions and present fairly, in all material respects, the financial position of UniCredit Bank Austria AG as of 31 December 2011, and the financial performance of UniCredit Bank Austria AG for the financial year from 1 January 2011 to 31 December 2011 in accordance with Austrian Generally Accepted Accounting Principles. Statement on the Management Report Laws and regulations require us to perform audit procedures to determine whether the management report is consistent with the financial statements and whether the other disclosures made in the management report are not misleading with respect to UniCredit Bank Austria AG’s position. The auditors’ report must also contain a statement as to whether the management report is consistent with the financial statements and whether the disclosures pursuant to Section 243a UGB (Austrian Business Code) are appropriate. In our opinion, the management report is consistent with the financial statements. The disclosures pursuant to Section 243a UGB (Austrian Business Code) are appropriate. This report has been translated from German into English for reference purposes only. Please refer to the official legally binding version as written and signed in German. Only the German version is definitive. Bank Austria – Annual Financial Statements 2011 243
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Annual Financial Statements 2011 of
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Bank Austria at a Glance Income sta
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Management Report Management Report
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Consolidated Financial Statements i
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II. UniCredit Bank Austria AG Preli
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