GENERAL MEETING DRAFT - Bankier.pl

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>> Report on Operations
Poland’s Markets
At the end of December 2009 Poland’s markets’ loans to customers amounted to €19.4 billion,
decreased by -2.6% compared to December 31, 2008, at constant exchange rates. Deposits from
customers (including securities in issue) amounted to €24.1 billion and increased by 7.8% in that period
(at constant exchange rates).
At the end of December 2009, there were 20,270 FTE employees, a reduction of 1,136 FTE staff from
December 2008, without any redundancy program.
Income Statement (€ million)
2008
2009 2008 ACTUAL NORMALIZED 1
Q4 Q3 ACTUAL NORMALIZED 1
YEAR CHAANGE % 2009
CHANGE % ON Q3 '09
Q4
POLAND'S MARKETS
Operating income 1,634 2,183 - 25.2% - 7.3% 427 427 - 0.1% + 0.6% 452
Operating costs -853 -1,060 - 19.5% - 0.4% -220 -215 + 2.1% + 1.8% -254
Operating profit 780 1,123 - 30.5% - 13.9% 207 212 - 2.3% - 0.6% 198
Net write-downs on loans -123 -23 n.s. n.s. -33 -36 - 8.5% - 9.8% 22
Profit before tax 692 1,110 - 37.6% - 23.3% 184 182 + 1.1% + 3.8% 231
Profit (Loss) for the period
1. At constant exchange rates
559 903 - 38.1% - 24.0% 147 148 - 0.2% + 3.1% 191
Balance Sheet (€ million)
AMOUNTS AS AT CHANGE ON DEC '08
12.31.2009 09.30.2009 12.31.2008 AMOUNT %
POLAND'S MARKETS
Total Loans 22,858 21,365 23,319 -461 - 2.0%
o.w. with customers 19,351 18,844 19,870 -519 - 2.6%
Customer deposits (incl. Securities in issue) 24,129 21,173 22,390 1,739 + 7.8%
Total RWA 22,011 22,457 24,957 -2,946 - 11.8%
RWA for Credit Risk 18,201 18,985 21,292 -3,091 - 14.5%
Key Ratios and Indicators
YEAR
CHANGE
2009 2008 AMOUNT %
POLAND'S MARKETS
EVA (€ million) 215 404 -189 - 46.7%
Absorbed Capital (€ million) 1,117 1,444 -327 - 22.6%
RARORAC 19.24% 27.95% n.s.
Operating Income/RWA (avg) 7.13% 7.36% -23bp
Cost/Income 52.2% 48.6% 367bp
Cost of Risk 0.66% 0.11% 54bp
Tax rate 19.2% 18.6% 60bp
Staff Numbers
AS AT CHANGE ON DEC '08
12.31.2009 09.30.2009 12.31.2008 AMOUNT %
POLAND'S MARKETS
Full Time Equivalent 20,270 20,663 21,406 -1,136 - 5.3%
In 2009 OJSC UniCredit Bank managed to maintain positive net profit, despite the difficult market
situation in Ukraine. As soon as the first signs of deterioration of the market appeared, strict measures
were put in place in order to even more carefully control the operations of UniCredit Bank, especially in
the risk management area. As a result, since March 2008 there has been no further expansion of the
network and since Q3 2008 business activity has been limited to minimizing risks. In 2009 several
actions in cost management area were undertaken aiming at achieving cost savings with focus on both
HR and Non-HR expenses.