Prospectus - Notowania

73
>> Group Results
Poland’s Markets
Balance Sheet (€ million)
POLAND'S MARKETS
AMOUNTS AS AT CHANGE ON DEC '08
09.30.2009 06.30.2009 12.31.2008 AMOUNT %
Total Loans 21,365 21,322 23,319 -1,954 - 8.4%
o.w. with customers 18,844 18,470 19,870 -1,026 - 5.2%
Customer deposits (incl. Securities in issue) 21,173 21,278 22,390 -1,217 - 5.4%
Total RWA 22,457 22,479 24,957 -2,500 - 10.0%
RWA for Credit Risk 18,985 18,953 21,292 -2,307 - 10.8%
Key Ratios and Indicators
POLAND'S MARKETS
FIRST 9 MONTHS CHANGE
2009 2008 AMOUNT %
EVA (€ million) 156 322 -166 - 51.6%
Absorbed Capital (€ million) 1,128 1,503 -375 - 25.0%
RARORAC 18.48% 28.54% n.s.
Operating Income/RWA (avg) 6.95% 7.48% -53bp
Cost/Income 52.5% 46.6% 590bp
Cost of Risk 0.64% 0.29% 35bp
Tax rate 19.1% 19.0% 10bp
Staff Numbers
POLAND'S MARKETS
AS AT CHANGE ON DEC '08
09.30.2009 06.30.2009 12.31.2008 AMOUNT %
Full Time Equivalent 20,663 20,893 21,406 -743 - 3.5%
In Ukraine during the 3 quarters of 2009, UniCredit Bank managed to maintain positive Net profit, despite the difficult
market situation in Ukraine. Since the first signals of deterioration in the market environment appeared, strict measures
were put in place in order to even more carefully control the operations of UniCredit Bank, especially in the risk
management area. Also in 2009 several actions in the cost management area were undertaken aiming to achieve cost
savings with a focus on both HR and non-HR expenses. In 3 quarters of 2009 there was no further expansion of the
network and business activity was limited in order to minimize the risks.
Business Performance
Corporate Business
Bank Pekao maintained its strong position in the corporate segment. As a market leader, Corporate Banking has
constantly developed its offer based on market best-practice, in particular in the transactional banking area. In 2009 a
new innovative solution for foreign electronic payments was implemented. This automatic procedure simplifies the
process, increases the safety of data processing and reduces transaction times. Additionally customers may negotiate
the exchange rates used and monitor execution on-line.
Corporate Banking successfully continued to implement its strategy to improve the effectiveness of allocated capital by
focusing on more profitable lending products, that allowed to improve results y/y measured by net revenues with
growth driven by net interest income on lending.
Corporate volumes growth was adversely affected by unfavorable market conditions. Lower demand on external
financing from corporate customers diminished the possibility of loans growth. As at September 30, 2009, loan
volumes were lower by 10.9% compared to December 31, 2008. In the same period, deposits volumes decreased by
7.4% mainly as a consequence of conscious pricing policy as well as strong competition from other banks seeking
liquidity.