Prospectus - Notowania

Further Information
75
>> Group Results
Rationalization of Group operations and other
corporate transactions
During the first nine months of 2009, the Group’s operations were characterized primarily by the implementation of
initiatives for the creation of the Group’s Global Factory for common services and products; then the rationalization of the
Group’s operations was continued to eliminate overlapping businesses and to achieve greater synergies and cost
reductions.
The Group also undertook some new initiatives aimed at external growth to consolidate and strengthen its leadership in
some business sectors.
Reorganization of the Group’s ICT and back office operations
During the first nine months, two separate projects for reorganizing the Group’s Italian and foreign ICT and back office
operations were completed in order to improve the coordination and efficiency of these business support areas and to
achieve further economies of scale and scope.
Specifically, the goal of the projects was to implement two Global Factories for common services:
� a Global Back Office Company, which provides back office services at the Group level; UniCredit Processes &
Administration (now UniCredit Business Partner joint venture corporation, hereinafter “UCBP;
� a Global ICT Company, which serves as sole center for ICT services for the entire Group; UniCredit Global
Information Services, (now a joint venture corporation, hereinafter “UGIS”).
Both companies will reinforce the “customer-centric” approach, which will be based on regular customer satisfaction
surveys.
Global Back Office Company
In January of this year, the process of integrating in UCBP all activities carried out in the “operations” area by the Group
in Austria, Czech Republic, Germany, Italy and Romania was completed. There are also plans to rationalize the
operations managed in Poland in a second phase.
The goal of this integration was to create a joint operating platform for the Group’s banks worldwide that will further the
exchange of key expertise and professional skills. It also aimed to establish a model for action and a single approach,
with a focus on better risk controls with the proper balance between cost and quality.
In December 2008, UCBP launched a capital increase totaling €131.6 million (including €129 million in additional paid-in
capital), which was paid for, pursuant to para. 4 of Article. 2441 and 2343 of the Civil Code, in the amount of €50.8
million by HVB through the transfer of its “Back Office” business unit, and in the amount of €80.8 million by UniCredit
Bank Austria through the transfer of its 100% stake in BA-CA Administration Services GmbH (now UniCredit Business
Partner GmbH) and Banking Transaction Services s.r.o. Following the above transaction, which went into effect as of
January 1, 2009, HVB and BA became shareholders of UCBP with stakes of 18.11% and 28.81% respectively, and the
remaining 53.07% stake is held by the Parent company.