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