We had already been - Notowania

Strategy and Results
CEO’s Letter to the Shareholders
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18
Customer centricity can be described in two words: proximity
and simplicity. Being close to our clients allows us to be
attentive to their core needs and to modify our divisional
business model in a way that better serves them, making it as
easy as possible for customers to do business with us.
2009 Consolidated Reports and Accounts · UniCredit Group
Dear Shareholders,
”
During the past year, we have made an intensive effort to
transform and adapt our business to the complex and rapidly
changing market. An in-depth assessment of who we are and
what we do was the first step in a process to improve the way
we relate to our clients. Today, we are focused on building
our business around our customers.
Although the global economy is in a recovery phase,
market volatility remains high as a result of the
significant uncertainty that persists.
It is therefore important that we maintain our focus
in managing our business in these unsettled
times. Interest rates are being kept exceptionally
low, as central banks continue to support liquidity.
They are, however, beginning to design their
exit strategies, the timing and manner of which
will be crucial to the economic recovery and the
profitability of a banking system that is under
pressure due to the deterioration of assets and
the high cost of capital.
The emerging regulatory framework, which is
still a point of discussion among regulators and
financial institutions, will be an important tool in
reinstilling public trust in the financial system and the
banking industry.
Nevertheless, stability, transparency and sustainability
must be at the top of the agenda for banks and financial
institutions if they are to regain credibility and their good
reputations.
These are the facts. And we proactively decided to reassess
our priorities, reaffirm our purpose, and rethink what it means