GENERAL MEETING DRAFT - Bankier.pl

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>> Report on Operations
To create value for the shareholders, the Group’s strategic guidelines are aimed at optimizing the
composition of its business portfolio. This goal is pursued through a process of capital allocation to each
business line in relation to its specific risk profile and ability to generate extra income measured as EVA,
which is the main performance indicator related to TSR (Total Shareholder Return). The development of
Group operations with a view to value creation require a process for allocating and managing capital
governed by different phases in the process of planning and control, articulated as:
� Formulation of the proposed propensity for risk and capitalization targets;
� Analysis of the risks associated with the value drivers and resulting allocation of capital to the
business lines and to the Business Units;
� Assignment of performance targets in line with risk;
� Analysis of the impact on the Group’s value and of the creation of value for shareholders;
� Drafting and proposal of the financial plan and dividend policy.
The process of allocation is based on a “dual track” logic, i.e., the higher amount as between economic
capital and regulatory capital (Core Tier 1) is allocated at the consolidated level and for each business
line/Business Unit.
If economic capital is higher, this approach makes it possible to allocate the real risk capital that the
Supervisory Authority does not consider yet and, if regulatory capital is higher, to allocate capital in
accordance with the regulatory rules.
EVA Generated by Business Segment (€ million)
YEAR
2009 2008
Retail 130 992
Corporate Investment Banking (CIB) (480) (1,376)
Private Banking 108 208
Asset Management 180 388
Central Eastern Europe (CEE) 46 767
Poland's Markets 215 404
Other components 1
(2,191) (1,635)
Total (1,992) (252)
Notes
2008 figures were recasted, where necessary, on a like-to-like basis to consider changes in scope of business segments
and computation rules.
1. Global Banking Services, Corporate Centre, inter-segment adjustments and consolidation adjustments not attributable
to individual segments.