Prospectus - Notowania

Poland’s Markets
Introduction
The Poland’s Markets Business Unit (“Poland Markets” in the following) manages UniCredit Group’s operations in
Poland and UniCredit Bank Ltd‘s activities in Ukraine.
Bank Pekao S.A. is one of two Poland’s leading banks in terms of total assets (market share of 11.8% as of June 30,
2009), loans to customers and assets under management. The bank has a nationwide network of 1,031 branches, a
strong presence in all the country’s major cities and Poland’s biggest ATM network, consisting of over 3,900 ATM’s (of
which 1,867 ATMs owned by the bank may be used by customers of UCG banks free of charge), enabling the bank’s
customers to have fully flexible and easy access to bank channels all over the country.
Bank Pekao S.A. controls 100% of UniCredit Bank Ltd. in Ukraine with a market share slightly above 1% in terms of
total assets and loans. Corporate Banking and Custody are the core businesses of UniCredit Bank, contributing about
67% of revenues. The bank has a network of 61 branches.
Financial Performance
At September 30, 2009 Poland’s Markets posted YTD Net profit for the period of €412 million, confirming its high
profitability, thanks to constant repricing actions, cost control and low cost of risk as a consequence of high quality of
assets.
Operating income totaled €1,207 million in three quarters of 2009, thanks to:
� net interest income of €657 million, after three quarters of 2009 down by 17.0% y/y at constant exchange
rates but higher compared to previous quarter, mainly thanks to higher assets profitability and thanks to
repricing aiming at cost deposits reduction;
� non-interest income of €550 million after three quarters of 2009 decreased only by 0.9% y/y at constant
exchange rates, with lower market related and other fees compensated partially by higher fees and
commissions on loans and cards and higher financial profits.
Operating costs (including integration costs) under strict control were reduced by 2.6% at constant exchange rates
compared to 9 months of 2008. The cost/income ratio amounted to 52.5% in September 30, 2009, mainly due to
pressure on revenues side, partially compensated by cost control.
At September 30, 2009 Poland’s Markets Loans to customers amounted to €18.8 billion, down by 5.2% from
December 31, 2008 (-3.3% at constant exchange rates). Deposits from customers (including securities in issue)
amounted to €21.2 billion at September 30, 2009 and decreased by 5.4 from December 2008.
At September 30, 2009, there were 20,663 FTE employees, a reduction of 743 FTE from December 2008, mainly
driven by natural attrition in Bank Pekao S.A.
Income Statement (€ million)
POLAND'S MARKETS
CONSOLIDATED INTERIM REPORT
AS AT SEPTEMBER 30, 2009
2009 2008 ACTUAL NORMALIZED 1 Q3 Q2 ACTUAL NORMALIZED 1 Q3
CHANGE % FIRST ON Q29'09 MONTHS 2008 CHANGE % ON FIRST 9 MONTHS '08
Operating income 1,207 1,731 - 30.3% - 10.4% 427 406 + 5.2% + 0.2% 609
Operating costs -634 -806 - 21.3% + 0.8% -215 -212 + 1.4% - 3.8% -286
Operating profit 573 925 - 38.1% - 20.2% 212 194 + 9.3% + 4.5% 324
Net write-downs on loans -91 -45 + 102.2% + 166.2% -36 -35 + 2.9% + 3.6% -13
Profit before tax 508 879 - 42.2% - 26.2% 182 169 + 7.7% + 1.5% 311
Profit (Loss) for the period 412 712 - 42.1% - 26.2% 148 138 + 7.2% + 1.6% 248
1. At constant exchange rates
72