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A New Force in European Banking: Integration Moving Ahead Alessandro Profumo - CEO. GS European Financials Conference 2006 Barcelona - June 8 th , 2006. DISCLAIMER. THIS PRESENTATION IS FOR INFORMATION PURPOSES ONLY.
THIS PRESENTATION IS FOR INFORMATION PURPOSES ONLY.
The information contained in this presentation is for background purposes only and is subject to amendment, revision and updating. Certain statements contained in this presentation may be statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. In addition to statements which are forward-looking by reason of context, including without limitation, statements referring to risk limitations, operational profitability, financial strength, performance targets, profitable growth opportunities, and risk adequate pricing, as well as the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, or continue”, “potential, future, or further”, and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements as a result of, among other factors, the satisfaction of the conditions of the offering, changing business or other market conditions and the prospects for growth anticipated by UniCredit’s management. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. UniCredit does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this presentation.
A new force in European banking
Integration moving ahead
THE NEW UNICREDIT GROUP:
Source: Company data as of year end 2005
(1) Prices as of June 1, 2006
MARKETS & INVESTMENT B.
(1) Ranking measured in terms of total assets. For market share calculations UniCredit and HVB may apply different definitions as far as the underlying data is concerned. Market share and ranking in Italy refer to customer loans. Ranking in leasing is by volumes
(2) Including Hebros Bank, Eksimbanka, IMB and Yapi. Banca Ion Tiriac not included. For Koc Group and Yapi loans are consolidated pro-quota, while branches and customers are 100% included. For Ukraine and Baltic Countries customer loans, branches, employees and customers data not included
DIVISIONALISATION BY CLIENT SEGMENT
GLOBAL BANKING SERVICES DIVISION AS GROUP EXECUTION MACHINE
MULTI-LOCAL APPROACH, BUT WITH STRONG GLOBAL BUSINESSES
CLEAR GOVERNANCE FROM THE VERY BEGINNING
POWERFUL INTEGRATION ENGINE COORDINATED BY THE INTEGRATION OFFICE
QUALITY 1Q06 RESULTS WITH THE WHOLE GROUP MOVING IN THE RIGHT DIRECTION
(19.6% of total)
(50.1% of total)
(30.3% of total)
UCI Old Perimeter
HVB Group ex BA-CA
WELL BALANCED COMPOSITION OF THE NEW GROUP WITH IMPROVED OPERATING PERFORMANCE IN ALL COMPONENTS; OUTSTANDING HVB AND BA-CA RESULTS ALSO DRIVEN BY FAVORABLE FINANCIAL MARKETS
UCI (EX HVB GROUP)
SOLID CONTRIBUTION FROM ALL GROUPS
1Q06 Operating Income Breakdown, mln
UCI GROUP TOTAL REVENUES
UCI (ex HVB Group)
Y/Y % ch.
Y/Y % ch.
Y/Y % ch.
o/w Net interest income (excl. div.)
o/w Net commissions
o/w Trading income
(1) Balance due to other revenues
ASSET PROFITABILITY SIGNIFICANTLY INCREASED, ALSO THANKS TO A BETTER MIX OF RWA; STRONG CAPITAL GENERATION DRIVES GOOD IMPROVEMENT OF SOLVENCY RATIOS
TOTAL RWA (EoP) (1)
TOTAL REVENUES (annualized)/ AVG. RWA(1)
Q/Q % ch.
UniCredit (ex HVB Group)
HVB ex BA-CA
(1) Including RWA for credit, market and other risks and consolidated into UniCredit Group’s accounts; calculated according to KWG criteria; figures may not add up due to rounding differences
FTE TREND - UCI (ex HVB Group)
FTE TREND - HVB Group ex BA-CA
HVB Group excl. BA-CA
FTE TREND - BA-CA Group
(1) First time consolidations in 1Q06: HVB Immobilien, HVB Bank Latvia, Joint Stock Commercial Bank HVB Ukraine, Bay. Wohnungs. F. Handel und Industrie GmbH, Nova banjalucka banka, CAIB Corporate Finance, CAIB International Markets, CAIB Securities Warsaw.
NET BAD & PROBLEM LOANS(mln)
RER PORTFOLIO – total credit exposure (bn)
Tot. net bad & problem loans
o/w HVB Group
o/w UCI (ex HVB Group)
% of total net loans
(1) 1Q05 based on Feb05 figures; 1Q06 based on Feb06 figures
(2) Figure adjusted for the already agreed sale of the “Aphrodite tranche”
SIGNIFICANT PROFIT GENERATION, +20.3% Y/Y SUPPORTED BY DOUBLE DIGIT GROWTH IN REVENUES; CORE TIER I +21BP IN JUST THREE MONTHS
% ch. on 1Q05 at constant FX and perimeter
% ch. on 4Q05
% ch. on 1Q05
C/I Ratio, %
Ch. on FY05
Cost of Risk(2), bp
Core Tier 1 ratio, %
P&L figures in IFRS according to Bank of Italy rules
(1) Calculated on 4Q05 net income without integration effects
(2) Profit (loss) and net write downs on loans / Total Period Average RWAs for Credit Risks
HVB CREDIT PROCESS REDESIGN
& PRIVATE B.
MERGER PROJECTS WELL UNDERWAY IN SLOVAKIA, BULGARIA AND CZECH REPUBLICCENTRAL EASTERN EUROPE: A NEW SHAPE
(1) On April 19th, 2006.
STRONG 1Q06 RESULTS SHOW THAT THE ENGINE IS ALREADY RUNNING
A WELL DESIGNED INTEGRATION IS GIVING THE FIRST RESULTSCONCLUSION
NEXT EVENT: BOTTOM UP PLAN TO BE PRESENTED ON JULY 5, 2006