Prospectus - Notowania

the new, generally weak, issues, while commercial activities such as cash
management and commissions on loans have as a rule recorded favourable trends in
Private Banking.
(in millions of €) % Change
Net fees and commissions (Reclassified) 09.30.2009 09.30.2008 2009/2008
Retail 2,688 3,122 -13.9%
Corporate & Investment Banking 1,136 1,264 -10.1%
Private Banking 340 427 -20.4%
Asset Management 510 844 -39.6%
Central Eastern Europe (CEE) 780 857 -9.0%
Poland's Market 384 524 -26.7%
Parent company and other companies* (172) (35) 391.4%
Total 5,666 7,003 -19.1%
* Including netting and write-downs
With regard to the performance of the individual components making up the item net
fees and commissions, illustrated in the table below, in addition to the comments set
forth above on the investment services, more modest reductions with a lesser impact
have been recorded with regard to the other components which have in any case been
adversely affected by the reduced volumes.
(in millions of €) % Change
Net fees and commissions (Reclassified) 09.30.2009 09.30.2008 2009/2008
Asset management, custody and administration 2,216 3,190 -30.5%
asset management 155 247 -37.2%
collective investment undertakings 953 1,560 -38.9%
placement of insurance products 408 469 -13.0%
other securities area activities 700 914 -23.4%
Current accounts, loans and credit commitments 1,785 1,958 -8.9%
Collection and payment services 1,079 1,152 -6.3%
Currency trading and foreign service transactions 347 396 -12.4%
Other services 239 307 -22.1%
Total 5,666 7,003 -19.1%
The contribution of the trading, hedging and fair value income to operating income
was positive, with a profit of € 1,651 million against a total loss of € 730 million for
the same period of the previous year (taking into account the effects of reclassification
of securities from the trading portfolio to loans to customers and banks which allowed
capital of losses of € 866 million not to be recorded).
(in millions of €) % Change
Trading, hedging and fair value income
(Reclassified) 09.30.2009 09.30.2008 2009/2008
Retail 33 7 n.s.
Corporate & Investment Banking 644 (1,171) n.s.
Private Banking 4 1 n.s.
Asset Management 7 (6) n.s.
Central Eastern Europe (CEE) 428 157 n.s.
Poland's Market 151 123 22.8%
Parent company and other companies* 384 159 n.s.
Total 1,651 (730) n.s.
* Including netting and write-downs.
The result has specifically benefited from the return to profitability of CIB which
recorded a profit of € 644 million compared to a loss of € 1,171 million in the same
period of the previous year. This reversal of trend specifically derives from the
profitability generated by brokerage. An important contribution to the total trading
income has also been delivered by the CEE business segment, (€ 428 million with an
increase of € 271 million compared to September 30, 2008) while the remaining
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