GENERAL MEETING DRAFT - Bankier.pl

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The list of subsidiaries also includes any special purpose entities as required by SIC 12. SIC 12 requires UniCredit to consolidate special purpose entities, provided that, in substance, the majority of the risks and rewards incident to the activities of these special purpose entities is attributable to the Bank or, in substance, the Bank controls the special purpose entities. An interest in the equity capital of the special purpose entities is immaterial in this regard. Thus the consolidation of special purpose entities in accordance with SIC 12 has the same effect as full consolidation. Equity interests held by third parties in a special purpose entity consolidated by the Bank in accordance with SIC 12 are recognized under minority interest. The carrying amount of an investment in a fully or proportionately consolidated entity held by the Parent or another Group company is eliminated against the recognition of the subsidiary’s assets and liabilities as well as the Group’s portion of equity of the subsidiary. Intragroup balances, off-balance sheet transactions, income and expenses and gain/losses between consolidated companies are eliminated in full or proportionately, in accordance with the consolidation procedures adopted. A subsidiary’s income and expenses are included in consolidation from the date the Parent acquires control. On disposal of a subsidiary, its income and expenses are consolidated up to the date of disposal, i.e., when the Parent ceases to control the subsidiary. The difference between the proceeds from the disposal of the subsidiary and the carrying amount of its net assets is recognised in item 270 “Gains (Losses) on disposal of investments” in profit and loss. Minority interests are recognised in the consolidated balance sheet item 210 “Minorities” separately from liabilities and Parent shareholders’ equity. Minority interests in the profit or loss of the Group are separately disclosed under item 330 of the consolidated profit and loss account. On first-time consolidation, subsidiaries are measured at fair value as at the acquisition date, i.e. at the cost of obtaining control of the subsidiary inclusive of ancillary costs. �� These are entities over which an investor has significant influence, and which is neither a subsidiary nor an interest in a joint venture. It is presumed that the investor has significant influence if the investor holds, directly or indirectly, at least 20 per cent of the voting power of an investee. Investments in associates are recognised using the equity method. The carrying amount includes goodwill (less any impairment loss). The investor’s share of the profit and loss of the investee after the date of acquisition is recognised in item 240 “Profit (Loss) of associates” in profit or loss. Distributions received from an investee reduce the carrying amount of the investment. If the investor’s share of an associate’s losses is equal to or more than its carrying amount, no further losses are recognised, unless the investor has incurred legal or constructive obligations or made payments on behalf of the associate. Unrealised profits on transactions with associates are eliminated to the extent of the Group’s interest. Unrealised losses are likewise eliminated, unless the transactions show evidence of impairment of the assets exchanged. 2009 CONSOLIDATED REPORTS AND ACCOUNTS 166
167 >> Financial Statements Part A – Accounting Policies The revaluation reserves of associates, which are recorded as a contra item to changes in value of items that are relevant for this purpose (see Section 2 above - General Princi<strong>pl</strong>es), are reported separately in the Statement of Comprehensive Income. �� A joint venture is a contractual arrangement whereby two or more parties undertake an economic activity that is subject to joint control. Joint control exists only when financial and operating decisions relating to the activity require the unanimous consent of the parties sharing control. Interests in joint ventures are recognised using proportionate consolidation. The following table shows the companies included in the scope of consolidation. Investments in Subsidiaries and interests in joint ventures (recognized using proportionate consolidation) NAME MAIN OFFICE A.COMPANY TYPE OF RELATIONSHIP (1) HELD BY A.1 LINE BY LINE METHOD 1 UNICREDIT SPA ROME CAPOGRUPPO 2 A&T-PROJEKTENTWICKLUNGS GMBH & CO. POTSDAMER PLATZ BERLIN KG 3 ACIS IMMOBILIEN- UND PROJEKTENTWICKLUNGS GMBH & CO. OBERBAUM CITY KG 4 ACIS IMMOBILIEN- UND PROJEKTENTWICKLUNGS GMBH & CO. PARKKOLONNADEN KG 5 ACIS IMMOBILIEN- UND PROJEKTENTWICKLUNGS GMBH & CO. STUTTGART KRONPRINZSTRASSE KG OWNERSHIP RELATIONSHIP MUNICH 1 GRUNDSTUCKSAKTIENGESELLSCHAFT AM POTSDAMER PLATZ (HAUS VATERLAND) MUNICH 1 SIRIUS IMMOBILIEN- UND PROJEKTENTWICKLUNGS GMBH MUNICH 1 A&T-PROJEKTENTWICKLUNGS GMBH & CO. POTSDAMER PLATZ BERLIN KG HOLDING % 66,67 HVB IMMOBILIEN AG 100,00 MUNICH 1 HVB GESELLSCHAFT FUR GEBAUDE MBH &COKG 100,00 98,11 VOTING RIGHTS (2) 98,11 100,00 98,11 6 AGROB IMMOBILIEN AG ISMANING 1 HVB GESELLSCHAFT FUR GEBAUDE MBH &COKG 52,72 75,02 7 AI BETEILIGUNG GMBH WIEN 1 UNICREDIT CAIB AG 100,00 8 ALINT 458 GRUNDSTUCKVERWALTUNG GESELLSCHAFT M.B.H. BAD HOMBURG 1 UNICREDIT LEASING S.P.A. 100,00 9 ALLEGRO LEASING GESELLSCHAFT M.B.H. WIEN 1 UNICREDIT LEASING (AUSTRIA) GMBH 99,80 100,00 10 ALLIB LEASING S.R.O. PRAGUE 1 UNICREDIT LEASING S.P.A. 100,00 11 ALLIBNEKRETNINED.O.O.ZAPOSLOVANJE NEKRETNINAMA ZAGREG 1 UNICREDIT LEASING S.P.A. 100,00 12 ALLIB ROM S.R.L. BUCAREST 1 UNICREDIT LEASING S.P.A. 100,00 13 ALMS LEASING GMBH. SALZBURG 1 UNICREDIT LEASING (AUSTRIA) GMBH 95,00 14 ALPINE CAYMAN ISLANDS LTD. GEORGE TOWN 1 UNICREDIT BANK AUSTRIA AG 100,00 15 ALTUS ALPHA DUBLIN 4 UNICREDIT BANK AG - (3) 16 ALV IMMOBILIEN LEASING GESELLSCHAFT M.B.H. WIEN 1 UNICREDIT LEASING (AUSTRIA) GMBH 99,80 100,00 17 ANI LEASING IFN S.A. BUCAREST 1 UNICREDIT GLOBAL LEASING EXPORT GMBH 10,01 UNICREDIT LEASING S.P.A. 89,99 18 ANTARES IMMOBILIEN LEASING GESELLSCHAFT M.B.H. WIEN 1 UNICREDIT GARAGEN ERRICHTUNG UND VERWERTUNG GMBH 99,80 100,00 19 ARABELLA FINANCE LTD. DUBLIN 4 UNICREDIT BANK AG - (3) 20 ARANY PENZUGYI LIZING ZRT. BUDAPEST 1 UNICREDIT BANK HUNGARY ZRT. 100,00 21 ARGENTAURUS IMMOBILIEN-VERMIETUNGS- UND VERWALTUNGS GMBH MUNICH 1 HVB PROJEKT GMBH 100,00
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2009 Consolidated Reports and Accou
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UniCredit S.p.A Registered Office:
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Contents 5 Introduction 7 Board of
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11 >> Strategy and Results Our appr
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REVENUES BY REGION 4 (%) 24.4 7.7 1
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CENTRAL AND EASTERN EUROPE UniCredi
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Today’s UniCredit Group is a youn
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30 20 10 0 -10 -20 Operating Profit
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With the aim of creating shareholde
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SRT (Semplice Risparmiare Tempo - I
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On the mortgage loans side, the Mut
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Breakdown of loans by country and d
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The new organizational model is bei
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Total Financial Assets (billion €
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Despite the decline in profit befor
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customer relation and the products
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This decrease was offset in part by
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Key Ratios and Indicators CENTRAL E
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�� Despite a
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UniCredit Bulbank is Bulgaria's lar
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�� Workout sa
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2009 saw a strengthening of technol
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capital of Bank Austria Aktiengesel
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Following the described operation,
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Page 130 and 131: D. examine the information received
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Page 134 and 135: Deputy Vice Chairman Gutty Gianfran
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Page 138 and 139: Corporate Governance Management Com
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Page 142 and 143: Paolo Iannone Chief Operating Offic
Page 144 and 145: ASSET MANAGEMENT - EXECUTIVE VICE P
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Page 150 and 151: Consolidated Balance Sheet Balance
Page 152 and 153: Consolidated Income Statement (�
Page 154 and 155: Statement of Changes in Shareholder
Page 156 and 157: 2009 CONSOLIDATED REPORTS AND ACCOU
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Page 164 and 165: The income statement was also chang
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Page 184 and 185: NAME MAIN OFFICE 2009 CONSOLIDATED
Page 192 and 193: Change of the consolidation method
Page 194 and 195: The following table shows the Entit
Page 196 and 197: The European Commission also transp
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Page 200 and 201: If however the fall in the fair val
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Page 208 and 209: Subsequent costs are added to the c
Page 210 and 211: Goodwill is recognised at cost less
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The acquisition date is the date on
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The lessee acquires the economic be
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Guarantees and credit derivatives i
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Objective evidence that a financial
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A.3.1.1 Reclassified financial asse
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2.2 Financial assets held for tradi
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6.1 Loans and receivables with bank
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The following table shows the perce
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NAME MAIN OFFICE 2009 CONSOLIDATED
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Name 2009 CONSOLIDATED REPORTS AND
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12.3 Property, plant and equipment
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Core Deposits The value of the rela
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In accordance with the provisions o
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Utility value is determined by disc
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Non-CEE countries: Rates 2009 2010
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Discount rates of flows The table b
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Supplementing the sensitivity analy
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14.3 Deferred tax assets: annual ch
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2.3 Breakdown of item 20 "Deposits
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3. Changes to plan assets and other
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The table below shows the breakdown
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15.2 Capital Stock - number of shar
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1.4 Interest expense and similar ch
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Fee and commission expense fell fro
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11.5 Other administrative expenses:
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2009 CONSOLIDATED REPORTS AND ACCOU
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With regard to the use of the AMA (
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During the first quarter of 2009, c
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2.2.1 Country risk Country risk is
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The assessment of a counterpart’s
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Credit risk strategies are defined
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The current models in place within
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A.1.3 Banking group - On- and off-b
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A.2 Internal and external ratings A
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A.3 Distribution of secured credit
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B.3 Banking Group -Distribution of
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The Group is also an investor, spon
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ORIGINATOR: UniCredit S.p.A. (ex Ca
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New transaction 2009 NAME Type of s
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ORIGINATOR: UniCredit Family Financ
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ORIGINATOR: UniCredit Leasing S.p.A
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ORIGINATOR: Leasfinanz GmbH Transac
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New transaction 2009 NAME Type of s
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Transactions previous periods NAME
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ORIGINATOR: UNICREDIT BANK AG (ex H
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ORIGINATOR: UNICREDIT BANK AUSTRIA
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C.1.2 Banking Group - Exposure from
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( C.1.2 Banking Group - Exposure fr
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(C.1.3 Banking Group - Exposure res
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C.1.4 Banking Group - Exposure resu
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attachment to table C.1.8 STATEMENT
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Eurofinance 2000 S.r.L. - Patrimoni
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Geldilux TS 2005 S.A. 31/12/2009 31
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Geldilux TS 2008 S.A. 31/12/2009 31
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Trevi Finance S.p.A. 31/12/2009 31/
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Trevi Finance n. 3 S.r.L. 31/12/200
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C.3 Covered Bond Transactions Quali
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1. Structured Credit Products A det
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The transactions included under “
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In some circumstances purchase comp
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Over 55% of the structured credit p
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A breakdown of the Group’s gross
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Structured credit product exposures
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The following table shows the main
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Where it is impossible to identify
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2. OTC Trading Derivatives with Cus
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In the same way, and in an effort t
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The following table gives the VaR f
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The main sources of interest rate r
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1.1 Banking portfolio: distribution
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1.3 Banking portfolio: distribution
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A.2.2 Banking book: end of period n
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A.6 OTC Financial Derivatives: Regu
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B.2 Credit derivatives:gross positi
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For each 1bp shift, sensitivity is
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Exchange-Rate Sensitivity This simu
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Stress Tests Stress Tests complemen
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The liquidity metrics The Group’s
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Additional liquidity risk measures
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Early Warning Indicators The Early
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1.3 Time breakdown by contractual r
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The mission of the Group Operationa
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The Special Representative submitte
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Defendants include - inter alia - t
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On October 2, 2009, the receivershi
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d.d. never occurred. Therefore, Zag
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Shareholders’ Meeting of October
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The officers involved in the procee
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Several subsidiaries of UniCredit S
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Madoff In October 2009, the Souther
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Internal Capital is then broken dow
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The following table sets out the im
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Within the limits of the “Employe
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The ESOP 2009 is a share plan simil
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CONSOLIDATED INCOME STATEMENT (�
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Annex 3 AMMS ERSATZ-KOMPLEMENTAR GM
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Annex 3 BALEA SOFT HAMBURG GERMANY
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Annex 3 BOSTON CAPITAL VENTURES V,
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CHARME INVESTMENTS S.C.A. LUXEMBOUR
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CO. WINDPARK MOSE KG Annex 3 68.48
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Annex 3 GUS CONSULTING GMBH VIENNA
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HVB LIFE SCIENCE GMBH MUNICH GERMAN
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Annex 3 INFORMATIONS-TECHNOLOGIE AU
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LIVA IMMOBILIEN LEASING VIENNA AUST
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Annex 3 OBEROSTERREICHISCHE UNTERNE
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PIONEER INVESTMENTS MUNICH GERMANY
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Annex 3 SANITA' - SRL IN LIQUIDAZIO
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TERRENO GRUNDSTUCKSVERWALTUNG GMBH
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Annex 3 … … UNICREDIT CORPORATE
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Annex 3 UNICREDIT PARTNER D.O.O ZAG
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Annex 3 VV IMMOBILIEN GMBH & CO. GB
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Basel 2 New international capital a
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Consumer ABS ABS (q.v.) in which th
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FINREP Document issued by the Commi
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IRS - Interest Rate Swap See "Swap"
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Operating risk The risk of losses d
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Securitization Transfer of a portfo
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