GENERAL MEETING DRAFT - Bankier.pl

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In 2009, GBS was able to continue to demonstrate its efficiency in the rationalization of costs.
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2009 2008 Abs %
Direct Costs 3,682 3,847 -165 -4.3%
2009 2008 Abs %
FTE number 15,677 15,881 -205 -1.3%
>> Report on Operations
Global Banking Services
The direct costs of SBA show a reduction of €165 million (-4.3%) compared with 2008. If we disregard the
increase in costs arising from the centralization of activities and from discontinuity vs 2008, amount
decline to €394 million (-10%), and reflects the continuing process of improving the efficiency of GBS
activities in Italy, Germany and Austria. The area continued to centralize the operations of all the
Business Lines, to the point of directly managing 24% of costs.
Staff numbers show a decreasing trend of 205 resources (-1.3%); this reduction is largely attributable to
the synergies arising from the corporate mergers carried out with regard to both ICT and Operations.
Considering the activity insourcing, such as Security insourcing from Retail and Shared Service Center,
FTE reduction would amount to 500 resources (-3.1%).
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The direct costs of ICT show a decline of €146 million compared with 2008 (-9%). If we consider the
impact of activities acquired in 2009 also in 2008, this saving in direct costs amounts to -11%. In addition
to the consolidation of the benefits associated with the merger with Capitalia, 2009 for Information and
Communication Technology ICT was a year characterized by an intensive program of integration of
processes and systems, achieved chiefly thanks to the merging of the Group's IT entities into UGIS. This
allowed a rationalization of IT costs, and a consolidation of the central role of UGIS in the management of
ICT affairs of the Group.
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The direct costs relating to Global Operations Services are down by -8%, representing a saving of
€41 million compared with 2008. If we consider, also in 2008, the operations acquired during the 2009,
the reduction in direct costs would amount to -10%. This result was achieved thanks to a process of
centralization and rationalization of the Back Office structures through the merging in one single legal
entity UniCredit Business Partner, of the former UniCredit Produzioni Accentrate (Upa) and the Back
Office structures of HVB and Baca into a single entity (UniCredit Business Partners), and, finally, through
the centralization of the holdings of the Back Office companies BACA AS and BTS, operating principally
in the CEE countries.