Download presentation - UniCredit Group
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UNICREDIT GROUP 1Q08 EXECUTIVE SUMMARY<br />
• 1,007 mln net profit in 1Q08<br />
• Commercial banking (1) net profit up 15% y/y, with 8.4% y/y revenue growth :<br />
Solid rise in CEE (~+25% y/y), Retail Italy (~+9% y/y), Corporate (~+3% y/y)<br />
Resilient Private Banking (~+2% y/y)<br />
• Markets and Investment Banking shows resilient revenue base despite adverse<br />
business conditions:<br />
~700 mln revenues excluding Markets credit related activities<br />
~1 bn negative revenue impact in Markets credit related activities, mainly (642 mln)<br />
due to write-downs in the Global ABS portfolio<br />
• Solid cost control: costs +1.2% y/y; -3.6% y/y net of CEE<br />
• -1,464 FTEs in 1Q08 in Italy thanks to Capitalia integration<br />
• Asset Quality trend confirmed: both gross and net impaired loans down q/q and<br />
coverage up<br />
• Core Tier 1 ~5.5% under Basel I, including Ukrsotsbank acquisition and<br />
commercial business growth; 6% 2008 Core Tier 1 target confirmed<br />
2<br />
NOTE: 1Q07 figures, save when differently specified, refer to <strong>UniCredit</strong> <strong>Group</strong> pro-forma (including Capitalia)<br />
(1) Retail, CEE Region, Corporate, Private