Prospectus - Notowania

165
>> Condensed Consolidated Financial Statements
Part D – Segment Reporting
Austria networks and the Financial Institutions Group – FIG), from product competences, i.e. the Financing & Advisory, Global
Transaction Banking, Leasing and Markets product lines, which centralize know-how covering the whole range of CIB
products.
Private Banking
The operations of the Private Banking Business Unit primarily target medium to high net worth private customers and
provide advisory services and solutions for wealth management using a comprehensive approach. The Business Unit
operates in three main countries (Italy, Germany and Austria) with a network of private bankers located in branches in this
area, in addition to a selective presence in several offshore European markets .
Asset Management
Asset Management operates under the Pioneer Investments brand. Pioneer is a wholly-owned subsidiary of UniCredit and is
an international concern with 80 years of asset management experience.
As the partner of leading financial institutions worldwide, the Business Unit offers a complete range of innovative financial
solutions, including mutual funds, hedge funds, asset management, institutional portfolios and structured products.
Central Eastern Europe
The CEE area comprises the businesses of the Group in the countries of Central and Eastern Europe, with the exception of
Poland and Ukraine. The CEE operates in 17 countries: Bosnia-Herzegovina, Bulgaria, Czech Republic, Croatia, Estonia,
Hungary, Latvia, Lithuania, Romania, Russia, Serbia, Slovakia, Slovenia, Ukraine, Turkey , Kyrgyzstan and Kazakhstan.
Poland’s Markets
The Poland’s Markets business unit manages the Group's businesses in Poland and Ukraine through UniCredit Bank LTD
(Ukraine). The business unit's banks are Bank Pekao in Poland and UniCredit Ukraine Bank in Ukraine.
Results by business segment are disclosed as per the condensed income statement, in line with the Interim Report on
Operations.
The business segments’ or business lines’ income statements were compiled by aggregating the income statements of their
constituent subsidiaries or – where a subsidiary operates in more than one segment – of assets, after application of their
respective write-downs and adjustment for intercompany transactions. The following rules were applied to determine business
segment results for subsidiaries with businesses in more than one segment (viz. UniCredit SpA, Bank Austria AG, Bayerische
Hypo und Vereinsbank AG, HVB Banque Luxembourg SA, HVB Immobilien AG, HVB Global Asset Company AG, Geldilux
SA) whereby indirect items are added to directly attributable income and expense:
� The refinancing cost of loans etc. and revenue from use of funds was determined on the basis of the Internal Transfer
Rates defined by the relevant UCG policies.
� Capital was allocated in proportion to risk-weighted assets and remunerated at 9.18% after tax.
� Costs borne centrally on behalf of the Business Units were attributed according to actual consumption, and overheads
were divided between the Business Units in proportion to their respective direct and indirect costs.
The comparative figures have been restated to take into account the following changes: transfer of Asset Gathering from
Private Banking to Retail, as well as centralization of Corporate Banking and Markets & Investment Banking former divisions
into the CIB area.
Please see the Interim Report on Operations for comments on business and results of the business segments.