GENERAL MEETING DRAFT - Bankier.pl

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>> Consolidated Financial Statements
Part L – Segment Reporting
Asset Management is known for its brand Pioneer Investments, the company within the UniCredit Group
operating around the world in the asset management sector and specialising in the management of
customer investments.
The business line, a partner of many leading international financial institutions, offers investors a
complete range of innovative financial solutions, including mutual funds, hedge funds, assets
administration, portfolios for institutional investors and structured products.
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The CEE area comprises the businesses of the Group in the countries of Central and Eastern Europe,
with the exception of Poland and Ukraine. The CEE operates in 18 countries: Azerbaijan, Bosnia-
Herzegovina, Bulgaria, Czech Republic, Croatia, Estonia, Hungary, Latvia, Lithuania, Romania, Russia,
Serbia, Slovakia, Slovenia, Ukraine, Turkey , Kyrgyzstan and Kazakhstan.
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The Poland’s Markets business unit manages the Group's businesses in Poland and Ukraine through
UniCredit Bank LTD (Ukraine). The business unit's banks are Bank Pekao in Poland and UniCredit
UkraineBankinUkraine.
Results by business segment are disclosed as per the condensed income statement, in line with the
Report on Operations.
The business segments’ or business lines’ income statements were compiled by aggregating the income
statements of their constituent subsidiaries or – where a subsidiary operates in more than one segment –
of assets, after application of their respective write-downs and adjustment for intercompany transactions.
The following rules were applied to determine business segment results for subsidiaries with businesses
in more than one segment (viz. UniCredit SpA, Bank Austria AG, UniCredit Bank AG, UniCredit
Luxembourg SA, HVB Immobilien AG, HVB Global Asset Company LP, Geldilux SA) whereby indirect
items are added to directly attributable income and expense:
� The refinancing cost of loans etc. and revenue from use of funds was determined on the basis of the
Internal Transfer Rates defined by the relevant UCG policies.
� Capital was allocated in proportion to risk-weighted assets and remunerated on average at 9.18%
after tax.
� Costs borne centrally on behalf of the Business Units were attributed according to actual
consumption, and overheads were divided between the Business Units in proportion mainly to their
respective direct and indirect costs, with the exception of the Holding’ s governance costs which
remain not allocated.
The comparative figures have been restated to take into account the following changes: transfer of Asset
Gathering from Private Banking to Retail, as well as centralization of Corporate Banking and Markets &
Investment Banking former divisions into the CIB area.
Please see the Report on Operations for comments on business and results of the business segments.