Prospectus - Notowania

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integration with HVB subsequent to the adjustments previously made, as at December 31, 2007 amounted to €7,282 million. The goodwill recorded under the balance sheet assets, since it has an indefinite useful life, is not subject to systematic amortisation, but is subject to periodic checking of the adequacy of the book value. This checking process (impairment test) is carried out at least once a year, or more frequently, in the presence of signs of deterioration in the value. The activities for checking the value of the goodwill are based on a preparatory allocation of the value of the goodwill to the various CGU units which they are attributable to; the definition of the scope of the CGUs is achieved so as to reflect the internal segment reporting criteria adopted by the management control of the Issuer. Any reduction in the value is determined on the basis of the difference between the book value of the goodwill and its recoverable value, if lower. The recoverable value is equal to the greater between the fair value of the CGU, net of any sales costs, and the related value in use, deriving from its disposal at the end of the useful life. Any value adjustments are recorded in the income statement and any subsequent value writeback are not permitted to be stated. When drawing up the consolidated management report as at September 30, 2009 – in which the Group presents goodwill recorded for a total of around €20.4 billion – considering that the impairment test on the goodwill has been carried out with reference to the interim financial report as at June 30, 2009 and that significant changes have not been observed in the basis of assumptions with respect to June 30, 2009, the conditions for carrying out a new impairment test on the goodwill as at September 30, 2009 do not exist. Therefore, no value adjustments have been recorded in relation to the goodwill. This said, the impairment test on the goodwill will in any event be re-performed as of the 2009 financial year-end date. Other intangible assets with an unlimited duration recorded in the financial statements mainly refer to the recording of trademarks relating to the groups acquired in 2005 and 2007. Other intangible assets with a limited duration (mainly client relationships) relating to the UniCredit Group, are valued at cost which is amortised on a straight-line basis with reference to the related useful life. Equity investments The item Equity investments included the value of the equity investments in subsidiary companies, jointly controlled or subject to significant influence, held by the UniCredit Group directly or via its subsidiaries. The following table shows the breakdown of the equity investments recorded under item 100 in the balance sheet. (millions of €) % change EQUITY INVESTMENTS 09.30.2009 12.31.2008 12.31.2007 12.31.2006 2009/2008 2008/2007 2007/2006 Equity investments subject to significant influence (carried at equity) 3,245 3,160 3,365 1,923 2.7% -6.1% 75.0% Subsidiaries 1 1 4 13 0.0% -75.0% -69.2% Other 535 842 832 1,150 -36.5% 1.2% -27.7% - 102 -
Total 3,781 4,003 4,186 3,086 -5.5% -4.4% 35.6% Equity investments subject to significant influence are carried at equity. With specific reference to the equity investments in subsidiaries indicated in the tables, these are investments which, given their non-significance in terms of impact on the consolidated financial statements overall, have been carried at equity and not consolidated line-byline. The remaining equity investments, other than in subsidiary or associated companies and joint ventures, are classified as available-for-sale financial assets and assets valued at fair value. The table below presents a list of the equity investments in jointly-controlled subsidiary companies (carried at equity) and in companies subject to significant influence (information on investment relationships) as at September 30, 2009. With regard to the information pertaining to the equity investments concerning previous years, reference should be made to the matters included in the related tables contained in the notes to the consolidated financial statements. Name Location Type of relationship 1 AIRPLUS AIR TRAVEL CARD VERTRIEBSGESELLSCHAFT M.B.H. ALLIANZ ZB D.O.O. DRUSTVO ZA UPRAVLJANJE DOBROVOLJNIM ALLIANZ ZB D.O.O. DRUSTVO ZA UPRAVLJANJIE OBVEZNIM Investment relationship Investing company % holding VIENNA 8 DINERS CLUB CEE HOLDING AG 33.33 ZAGREB 8 ZAGREBACKA BANKA DD ZAGREB 8 ZAGREBACKA BANKA DD AVIVA S.P.A. MILAN 8 UNICREDIT S.P.A. 49.00 BANK FUR TIROL UND VORARLBERG AKTIENGESELLSCHAFT BANQUE DE COMMERCE ET DE PLACEMENTS S.A. BKS BANK AG (EHEM.BANK FUR KARNTEN UND STEIERMARK AG) CA IMMOBILIEN ANLAGEN AKTIENGESELLSCHAFT CAPITALIA ASSICURAZIONI S.P.A. CENTRAL POLAND FUND LLC INNSBRUCK 8 CABET-HOLDING- AKTIENGESELLSCHAFT - 103 - UNICREDIT BANK AUSTRIA AG GENEVA 8 YAPI VE KREDI BANKASI AS KLAGENFURT 8 CABET-HOLDING- AKTIENGESELLSCHAFT UNICREDIT BANK AUSTRIA AG VIENNA 8 UNICREDIT BANK AUSTRIA AG 49.00 49.00 37.53 Effective % of votes available 2 9.85 4.93 30.67 28.01 29.93 8.02 7.36 11.17 MILAN 8 UNICREDIT S.P.A. 49.00 DELAWARE 1 BANK PEKAO S.A. 53.19
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Prospectus relating to the offer un
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4.3.3 Risks associated with the per
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20.4. Audit of annual financial inf
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6.5 Stabilisation..................
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Banca dell’Umbria Banca dell’Um
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Issuer or UniCredit or the Company
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Germany, and between January 14, 20
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UniCredit Family Financing Bank Uni
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CDO Acronym of Collateralized Debt
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well as the negative “prudential
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RWA (Risk-weighted asset) Value wei
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(h) Counterpart risk; (i) Risks ass
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Since its creation, the Group has c
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For greater information on the UniC
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OPERATING PROFIT (millions of €)
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The members of the Board of Directo
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Article 2441, first, second and thi
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− notification that the investor
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Selected financial information on t
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• statutory financial statements
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1. PARTIES RESPONSIBLE 1.1 Parties
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consolidated interim report as of t
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The reclassified income statement f
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Trading, hedging and fair value inc
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at 12.31.2008 Notional value 28,772
Page 51 and 52: 4. RISK FACTORS - 51 - RISK FACTORS
Page 53 and 54: - 53 - RISK FACTORS Since the finan
Page 55 and 56: - 55 - RISK FACTORS 2009 did not em
Page 57 and 58: - 57 - RISK FACTORS liquidity facil
Page 59 and 60: - 59 - RISK FACTORS which €1,686
Page 61 and 62: - 61 - RISK FACTORS Increases in th
Page 63 and 64: - 63 - RISK FACTORS Some of the met
Page 65 and 66: - 65 - RISK FACTORS Regional Court
Page 67 and 68: - 67 - RISK FACTORS Dalmata S.r.l.
Page 69 and 70: - 69 - RISK FACTORS • Vanderbilt
Page 71 and 72: - 71 - RISK FACTORS It is maintaine
Page 73 and 74: - 73 - RISK FACTORS With reference
Page 75 and 76: - 75 - RISK FACTORS related supplem
Page 77 and 78: - 77 - RISK FACTORS expressly adher
Page 79 and 80: 4.1.17 Risks associated with activi
Page 81 and 82: - 81 - RISK FACTORS The UniCredit G
Page 83 and 84: - 83 - RISK FACTORS effects on the
Page 85 and 86: - 85 - RISK FACTORS 4.2.5 Risks ass
Page 87 and 88: - 87 - RISK FACTORS For further inf
Page 89 and 90: 5 INFORMATION ON THE COMPANY 5.1. H
Page 91 and 92: What is more, in August 2004 Pionee
Page 93 and 94: (B) The merger transactions with th
Page 95 and 96: Register on September 25, 2007 and
Page 97 and 98: December 2007 UniCredit reached an
Page 99 and 100: Real Estate subsequently transferre
Page 101: associated with liabilities which a
Page 105 and 106: PIRELLI PEKAO REAL ESTATE SP. Z O.O
Page 107 and 108: a structure by sector of activities
Page 109 and 110: Total 2,680 5,616 5,458 10,510 8,21
Page 111 and 112: (ii) credit, debit and prepaid card
Page 113 and 114: The CIB business segment focuses on
Page 115 and 116: markets and corporate treasury sale
Page 117 and 118: econstructed INCOME STATEMENT FIGUR
Page 119 and 120: The table below discloses the main
Page 121 and 122: For the purposes of assessing the r
Page 123 and 124: (the available margin is provided b
Page 125 and 126: these shares, provided that the sha
Page 127 and 128: and up-dates on the basis of the pr
Page 129 and 130: (i) the granting of authorizations
Page 131 and 132: - 131 -
Page 133 and 134: Private Banking Business Unit (whic
Page 135 and 136: Piedmont 466 2,716 17 2 Puglia 173
Page 137 and 138: Europe (including Germany and Austr
Page 139 and 140: (b) PMI, for corporations with an a
Page 141 and 142: With regards to loans 19 , as at Ju
Page 143 and 144: and services, combining a unique ge
Page 145 and 146: • the guidelines, policies and st
Page 147 and 148: countries), with reference to the m
Page 149 and 150: • the introduction, within the ne
Page 151 and 152: Real estate risk consists of potent
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7. ORGANISATIONAL STRUCTURE 7.1. Gr
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- 155 -
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7.2. Issuer’s subsidiaries The fo
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NAME REGISTERED OFFICE COUNTRY ACTI
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NAME ASPRA FINANCE S.P.A. ITALY REG
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NAME REGISTERED OFFICE COUNTRY PEKA
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NAME REGISTERED OFFICE COUNTRY ACTI
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NAME REGISTERED OFFICE COUNTRY UNIC
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ARGENTAURUS IMMOBILIEN- VERM IETUNG
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• Tangible assets: breakdown of a
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The information regarding intangibl
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Vienna Donau-City Wed Donau - City
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9. REPORT ON THE OPERATIONAL AND FI
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slowdown in both German and, more s
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this Chapter refer to these changes
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• 2009 − Retail − Corporate &
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longer intended for trading due to
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illion, an increase of approximatel
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REGULATORY CAPITAL 09.30.2009 12.31
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capital requirements for market ris
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as per the accounting standards app
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At the end of 2008, available-for-s
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Non-financial companies 3,138 1,961
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and demand deposits 2.2 Time deposi
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derecognised Total (Carrying value)
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The coverage ratio (or the ratio be
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Situation as at 31.12.2007 Notional
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As at September 30, 2009, similar c
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In its role as sponsor, the Group s
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showed a great deal of volatility,
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The Group does not have any mortgag
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B.2 Financial assets designated at
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During Q3 2009, UniCredit Real Esta
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Total 8,175 8,049 9,105 6,872 1.6%
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Total interest income is, for the t
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(millions of €) % Change Fee and
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Net hedging income (loss) (millions
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Administrative expenses for personn
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consolidation were attributable sol
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The cost of credit risk (calculated
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eing completed on October 1, 2007.
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and Romania). Growth in the Poland
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( in millions of Euros) % Change Ne
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markets recorded in 2007 (Croatia,
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Gross profit therefore stands at
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amounting to € 1,222 million in a
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1. Deposits from banks 152,437 1,94
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usiness segments have posted result
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(in millions of €) % Change Opera
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(in millions of €) RECONCILIATION
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100. Income (Losses) from sale or r
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100. Income (Losses) from sale or r
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This result should not be considere
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10.2. Information regarding the fin
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5.00% 02.01.2016 applicable not app
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HVB Lux Geldilux - TS - 2005 tradit
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10.3. Indication of the financial r
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12. INFORMATION ON EXPECTED TRENDS
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14. ADMINISTRATION, MANAGEMENT OR S
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Quadrante Europa (Platform for logi
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esearch on the strategies of multin
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Director; he is a Member of the Boa
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the Management Board of Bank Austri
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Alessandro Profumo Giovanni Belluzz
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Manfred Bischoff Enrico Tommaso Cuc
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Donato Fontanesi Francesco Giacomin
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Marianna Li Calzi Salvatore Ligrest
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Banca SANPAOLO IMI S.p.A. Member of
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Mischek Privatstiftung Member of th
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The members of the Board of Statuto
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Massimo Livatino. Degree in Economi
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CSP Società Consortile a r.l. Chai
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Giuseppe Verrascina Interpump Group
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Eastern Europe. In November 2001 he
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Group and merger with the Capitalia
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Reninvest SA Member of the Board of
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Fondazione Ugo Foscolo (UniCredit &
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- on the Warsaw Stock Exchange in r
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Person Position description Compens
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Person Position description Compens
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Other key management personnel, lis
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Friedrich Kadrnoska Director April
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External Auditors, as well as the s
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- put in place a set of regulations
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1 shares received in 2009 following
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(c) “Discount Share”: at the en
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subsidiaries - direct or indirect -
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For that which concerns the informa
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customers Other assets 45 - 16 - -
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The following table provides detail
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November 2008 December 2008 January
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20. FINANCIAL INFORMATION REGARDING
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Balance Sheet In the following tabl
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A. 1. OPERATING ACTIVITIES Operatio
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On April 30, 2009, the ordinary ses
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losses in the matter or, if this pe
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International Industrial Participat
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debited to the plaintiff’s accoun
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Accordingly, the plaintiff requeste
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Zagrebačka maintains that the plai
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In fact, the bank believes it has c
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In the meantime, HVB, which believe
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Madoff In December 2008, Bernard L.
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standards, no provisions were made
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Investigations by the Polish Tax Au
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In addition, BiFin conducted an ins
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21. ADDITIONAL INFORMATION 21.1. Eq
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The Board of Directors resolved: i)
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medium-term incentive system for Gr
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09.18.2008 September 16, 2008 6,683
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01.04.2008 December 31, 2007 6,682,
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10.02.2006 September 15, 2006 5,218
Page 377 and 378:
Only shareholders that individually
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financial or insurance sectors, in
Page 381 and 382:
Pursuant to Section 27 of the Artic
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Additionally, the Shareholders’ M
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If these provisions are violated, a
Page 387 and 388:
the interest held by UniCredit in B
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22.7. Agreement for the sale by BA
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First Contribution, shares of the O
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23. INFORMATION ORIGINATING FROM TH
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25. INFORMATION ON EQUITY INVESTMEN
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S. NAME MEDIOBANCA BANCA DI CREDITO
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List of the Main Companies Subject
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SECOND SECTION - 401 -
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2. RISK FACTORS For a description o
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3.4 Reasons for the Offer and Use o
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With reference to the voting right,
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Some general information about the
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esolution following the one pertain
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shareholders, and the companies and
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Non Qualifying Holdings contribute
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Capital gains realised by resident
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4.11.2 Germany The following sectio
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and is an employee of the Company.
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Shares acquired before December 31,
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deducted to the extent to which the
Page 427 and 428:
4.11.3 Poland The following summary
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In order to eliminate the double ta
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are subject to taxation on the disp
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donation or the acceptance of inher
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ending dates, by submitting a reque
Page 437 and 438:
The Shares subscribed before the en
Page 439 and 440:
and Australia, and in the other Exc
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€135,000,000, then extended to
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6. ADMISSION TO TRADING AND TRADING
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8. EXPENSES LINKED TO THE OFFER 8.1
Page 447 and 448:
10. ADDITIONAL INFORMATION 10.1 Con
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Consolidated Interim Report as at S
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3 Consolidated Interim Report as at
Page 455 and 456:
Contents 7 Consolidated Interim Rep
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Changes made to enable proper compa
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11 >> Consolidated Interim Report T
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Notes 13 Interim Report on Operatio
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Highlights 15 >> Interim Report on
Page 465 and 466:
17 >> Interim Report on Operations
Page 467 and 468:
Page 469 and 470:
Results by Business Segment 21 >> I
Page 471 and 472:
UniCredit Share SHARE INFORMATION S
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25 >> Interim Reports on Operations
Page 475 and 476:
27 >> Interim Reports on Operations
Page 477 and 478:
Operating Profit Breakdown 29 >> In
Page 479 and 480:
Non-Interest Income 31 >> Interim R
Page 481 and 482:
Net Profit attributable to the Grou
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Profit before Taxes 35 >> Interim R
Page 485 and 486:
Capital Ratios 37 >> Interim Report
Page 487 and 488:
Page 489 and 490:
Risks connected with raising funds
Page 491 and 492:
Retail Introduction 43 >> Group Res
Page 493 and 494:
45 >> Group Results Retail Retail p
Page 495 and 496:
47 >> Group Results Retail The SRT
Page 497 and 498:
Retail Network Austria 49 >> Group
Page 499 and 500:
Asset Gathering 51 >> Group Results
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53 >> Group Results Corporate & Inv
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Strategies and Product Lines Financ
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57 >> Group Results Corporate & Inv
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59 >> Group Results Private Banking
Page 509 and 510:
61 >> Group Results Private Banking
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It is not currently possible to est
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65 >> Group Results Asset Managemen
Page 515 and 516:
67 >> Group Results Central Eastern
Page 517 and 518:
Page 519 and 520:
Page 521 and 522:
73 >> Group Results Poland’s Mark
Page 523 and 524:
Further Information 75 >> Group Res
Page 525 and 526:
77 >> Group Results The combination
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New Group external growth initiativ
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Transactions to dispose of equity i
Page 531 and 532:
Steps to Strengthen Capital 83 >> G
Page 533:
Outlook 85 >> Group Results Despite
Page 537 and 538:
89 RELASEMESTRALE CONSOLIDATA >> Co
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Liabilities and shareholders' equit
Page 541 and 542:
Page 543 and 544:
Page 545:
CONSOLIDATED CASH FLOW STATEMENT (i
Page 548 and 549:
100
Page 550 and 551:
Part A) Accounting Policies A1) Gen
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Section 3 - Consolidation Scope and
Page 554 and 555:
Investments in subsidiaries, compan
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NAME MAIN OFFICE CONSOLIDATED INTER
Page 558 and 559:
Page 560 and 561:
NAME MAIN OFFICE DELPHA IMMOBILIEN-
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NAME MAIN OFFICE GRUNDSTUCKSAKTIENG
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Page 570 and 571:
Page 572 and 573:
Page 574 and 575:
Page 576 and 577:
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Page 580 and 581:
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Section 4 - Subsequent Events No ev
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136
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Part B) Consolidated Balance Sheet
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Section 5 - Held-to-maturity invest
Page 590 and 591:
Section 12 - Property, plant and eq
Page 592 and 593:
The CGU is the lowest level at whic
Page 594 and 595:
Section 15 - Non-current assets and
Page 596 and 597:
Section 3 - Debt securities in issu
Page 598 and 599:
Section 15 - Shareholders’ Equity
Page 600 and 601:
152
Page 602 and 603:
Part C) - Consolidated Income State
Page 604 and 605:
Section 3 - Dividend income and sim
Page 606 and 607:
Section 8 - Impairment losses - Ite
Page 608 and 609:
Section 12 - Provisions for risks a
Page 610 and 611:
162
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Part D - Segment Reporting (amounts
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A - Primary Segment Segment Reporti
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168
Page 618 and 619:
Part E - Risks ad related risk mana
Page 620 and 621:
Quantitative Information A. Credit
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A.1.3 Balance sheet exposure to ban
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Information on Structured Credit Pr
Page 626 and 627:
Retention by the Group of the first
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Securitized assets broken down by a
Page 630 and 631:
The following table shows exposure
Page 632 and 633:
The residual life of sponsored cond
Page 634 and 635:
Structured credit product exposures
Page 636 and 637:
The Group’s portfolio includes th
Page 638 and 639:
A financial instrument is regarded
Page 640 and 641:
The following table gives the amoun
Page 642 and 643:
Here follows the breakdown of balan
Page 644 and 645:
The following graphs analyze the ba
Page 646 and 647:
Currently, clockwise and counter-cl
Page 648 and 649:
Sensitivity to the volatility of in
Page 650 and 651:
Section 3 - Liquidity risk Managing
Page 652 and 653:
Organizational structure Senior Man
Page 654 and 655:
B. Legal Risks There are a number o
Page 656 and 657:
Cirio In April 2004 the Extraordina
Page 658 and 659:
Divania S.r.l In the first half of
Page 660 and 661:
Mario Malavolta On July 2009 Mr. Ma
Page 662 and 663:
Hypo Real Estate AG and Hypo Real E
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Squeeze-out of minority shareholder
Page 666 and 667:
In addition, several proceedings ha
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220
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Part F - Information on Shareholder
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Section 2 - Shareholders’ equity
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B. Quantitative information Regulat
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228
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Part H - Related-party transactions
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232
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Part I) Share-Based Payments A. Qua
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236
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Annex 1 - Reconciliation of Condens
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CONSOLIDATED INCOME STATEMENT (€
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Annex 2 - Definition of Terms and A
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- Pillar 1: while the objective of
Page 694 and 695:
Cost of risk The ratio between loan
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Hedge Fund Speculative mutual inves
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Liquidity risk The risk of the comp
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Purchase Companies Vehicle used by
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UCITS - Undertaking for Collective
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256
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258
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Prospectus - Notowania

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