Unicredit — Earnings Release 2020

Aug 6, 2020

Divisional Database

2Q20 GROUP RESULTS

Divisional Database

6 Aug 2020

2Q20 GROUP RESULTS

CONSOLIDATED ACCOUNTS

Consolidated Income Statement	3
Consolidated Balance Sheet	4
Group Shareholder's Equity & Shares	5
Asset Quality Group	6
Asset Quality Group excl. Non Core	7
Asset Quality Non Core	8
Asset Quality by Division	9
Capital Position	10

CONTRIBUTION OF DIVISIONS TO GROUP RESULTS

Commercial Bank Italy	11
Commercial Bank Germany	12
Commercial Bank Austria	13
CIB	14
CIB Managerial Data	15
GCC	16
CEE Division	17
CEE Countries	18-26
Non Core	27
Fees - Details Group	28
Branches	29

UniCredit Group - Strictly Confidential# Consolidated Income Statement

CONSOLIDATED INCOME STATEMENT

		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	2019	2019	2019	2019	2020	2020
Net interest	4,887	5,044	-3.1%	2,537	2,507	2,520	2,508	2,494	2,393
Dividends and other income from equity investments	164	321	-49.0%	167	154	183	133	102	62
Net fees and commissions	3,001	3,106	-3.4%	1,541	1,565	1,569	1,629	1,620	1,380
Net trading income	530	784	-32.4%	484	300	413	472	173	357
Net other expenses/income	-34	31	n.m.	39	-8	17	108	-11	-22
OPERATING INCOME	8,548	9,285	-7.9%	4,768	4,518	4,703	4,850	4,378	4,170
Payroll costs	-3,034	-3,075	-1.3%	-1,555	-1,519	-1,522	-1,549	-1,542	-1,492
Other administrative expenses	-1,608	-1,635	-1.7%	-832	-803	-786	-858	-812	-797
Recovery of expenses	253	301	-15.9%	150	151	142	150	125	128
Amortisation & depreciation	-548	-549	-0.0%	-272	-276	-281	-267	-265	-284
Operating costs	-4,937	-4,958	-0.4%	-2,510	-2,448	-2,447	-2,525	-2,493	-2,444
OPERATING PROFIT	3,610	4,328	-16.6%	2,258	2,070	2,256	2,325	1,885	1,726
Net write-downs of loans	-2,198	-1,175	+87.1%	-467	-707	-563	-1,645	-1,261	-937
NET OPERATING PROFIT	1,412	3,153	-55.2%	1,791	1,362	1,694	681	624	788
Other Charges & Provisions	-713	-450	+58.5%	-214	-236	-187	-316	-528	-185
o/w Systemic Charges	-703	-656	+7.2%	-538	-118	-148	-82	-538	-166
o/w DGS	-90	-103	-12.3%	-72	-30	-112	-34	-64	-26
o/w Bank levies	-137	-134	+2.3%	-99	-35	-36	-48	-100	-37
o/w SRF	-477	-420	+13.6%	-367	-52	0	0	-373	-103
Integration costs	-1,352	-5	n.m.	-3	-2	-2	-657	-1,347	-6
Net income from investments	-1,353	-221	n.m.	90	-311	41	-665	-1,261	-92
PROFIT BEFORE TAX	-2,007	2,478	n.m.	1,664	814	1,545	-958	-2,512	505
Income tax for the period	-213	-670	-68.2%	-494	-176	-338	119	-140	-73
Profit (Loss) from non-current assets held for sale after tax	1	1,372	-99.9%	65	1,307	0	11	0	1
PROFIT (LOSS) FOR THE PERIOD	-2,219	3,180	n.m.	1,235	1,944	1,207	-828	-2,652	433
Minorities	-10	-88	-88.5%	-59	-29	-26	-4	-5	-6
NET PROFIT ATTRIBUTABLE TO THE GROUP BEFORE PPA	-2,229	3,092	n.m.	1,176	1,916	1,181	-832	-2,656	428
Purchase Price Allocation effect	-50	-64	-22.6%	-1	-63	-1	-3	-50	0
Goodwill impairment	-8	0	n.m.	0	0	0	0	0	-8
CONSOLIDATED PROFIT	-2,286	3,028	n.m.	1,175	1,853	1,180	-835	-2,706	420
INCOME STATEMENT RATIOS
Cost income ratio	57.8%	53.4%	4.4 p.p.	52.6%	54.2%	52.0%	52.1%	56.9%	58.6%
Cost of Risk (LLP annualised on Avg Loans) in basis points	91	50	40	40	60	47	137	104	77
Tax rate	n.m.	27.0%	n.m.	29.7%	21.7%	21.9%	n.m.	n.m.	14.4%
VOLUMES
Customers Loans (excl. Repos)	430,992	432,158	-0.3%	429,252	432,158	431,929	424,352	433,829	430,992
Customer Depos (excl. Repos)	433,283	410,067	+5.7%	406,258	410,067	417,203	420,449	423,330	433,283
TFA*	700,038	683,432	+2.4%	674,364	683,432	692,295	704,231	662,801	700,038
o/w AUM	191,403	190,767	+0.3%	187,557	190,767	195,441	201,557	180,423	191,403
o/w AUC	132,930	135,864	-2.2%	135,496	135,864	136,396	140,412	118,168	132,930
Total RWA	350,670	387,139	-9.4%	371,739	387,139	387,774	378,718	360,970	350,670
OTHER FIGURES
FTEs (100%)	83,685	84,836	-1.4%	85,111	84,836	84,652	84,245	83,942	83,685

ROTE STATED -8.9% 12.3% -21.1 p.p. 9.7% 14.8% 9.2% -6.4% -20.8% 3.3%

* Refers to Group commercial Total Financial Assets. Non-commercial elements, i.e. Group Corporate Centre, Non Core, Leasing, Factoring and CIB are excluded. Numbers are managerial figures. 3

# Consolidated Balance Sheet
(mln Euro)	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Assets
Cash and cash balances	31,991	32,578	30,997	17,305	20,726	17,342
Financial assets held for trading	67,135	67,344	74,871	63,280	69,756	67,236
Loans to banks	83,655	77,911	81,483	97,888	94,525	126,541
Loans to customers	471,653	469,298	480,997	482,574	489,973	479,253
Other financial assets	148,061	138,438	146,292	149,091	151,907	155,884
Hedging instruments	8,516	9,801	11,573	9,230	11,051	11,445
Property, plant and equipment	11,162	9,549	9,276	11,097	10,519	10,242
Goodwill	1,484	886	886	886	886	878
Other intangible assets	1,996	1,915	1,952	1,914	1,865	1,957
Tax assets	13,019	12,780	12,673	12,922	12,955	12,978
Non-current assets and disposal groups classified as held for sale	1,764	3,286	4,535	2,512	2,045	1,984
Other assets	7,692	8,824	8,008	6,949	6,542	6,994
Total assets	848,128	832,611	863,544	855,647	872,753	892,735
Liabilities and shareholders' equity
Deposits from banks	136,882	132,695	143,213	135,563	161,497	164,843
Deposits from customers	473,514	453,019	455,473	470,570	454,956	468,315
Debt securities issued	84,283	92,434	97,575	96,301	95,197	95,902
Financial liabilities held for trading	41,879	40,410	46,102	41,483	46,785	45,551
Other financial liabilities	13,815	13,689	13,401	12,083	11,094	12,656
Hedging instruments	11,440	13,848	16,023	12,150	14,236	15,029
Tax liabilities	1,295	1,020	1,079	1,378	1,509	1,454
Liabilities included in disposal groups classified as held for sale	547	632	626	725	559	615
Other liabilities	25,267	24,948	29,137	23,608	25,669	27,186
Minorities	1,018	445	462	369	430	437
Group Shareholders' Equity:	58,188	59,471	60,454	61,416	60,820	60,748
- Capital and reserves	57,012	56,443	56,245	58,042	63,526	63,034
- Net profit (loss)	1,175	3,028	4,208	3,373	-2,706	-2,286
Total liabilities and shareholders' equity	848,128	832,611	863,544	855,647	872,753	892,735

Shareholders' Equity attributable to the Group & Shares

(mln Euro)

Shareholders' Equity as at 31 December 2019	61,416
Equity instruments	1,239
Change in reserve related coupon on AT1 instruments	-160
Disbursements related to transaction denominated "Cashes"	-61
Change in the valuation reserve of the companies accounted for using the equity method(1)	704
Change in the valuation reserve of non-current assets classified held-for-sale(1)	684
Change in the valuation of hedging for financial risks	124
Change in the valuation reserve relating to the financial assets and liabilities at fair value	-298
Exchange differences reserve(2)	-599
Other changes	-15
Net profit (loss) for the period	-2,286
Shareholders' Equity as at 30 June 2020	60,748

(1) The change in the valuation reserve of the companies accounted for using the equity method for +€704 million and in the reserve of non-current assets classified held-for-sale for +€684 million is mainly due to the disposal of respectively 11.93% and 9.02% stake of Yapi Ve Kredi

(2) This effect is mainly due to the impact of Russian Ruble for -€355 million, Czech Crown for -€127 million and Hungarian Forint for -€78 million. Bankasi AS with the consequent recycle mostly to profit or loss of reserves basically referred to exchange rate differences on Turkish Lira.

Average & EoP YtD number of oustanding and diluted shares
	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Average number of outstanding shares*	2,220,496,264	2,222,052,152	2,222,606,271	2,222,881,054	2,223,909,901	2,225,745,652
Average number of diluted shares*	-	2,233,727,871	-	2,236,839,506	2,233,897,148	2,236,776,028
EoP number of outstanding shares*	2,220,496,264	2,223,696,441	2,223,696,441	2,223,696,441	2,227,581,402	2,227,581,402
EoP number of diluted shares*	-	2,236,963,885	-	2,238,447,930	2,240,149,642	2,240,048,147

*Net of the average number of treasury shares and of further No.9,675,641 shares held under a contract of usufruct.

	Asset Quality Group		#
LOANS TO CUSTOMERS
	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2019	2019	2019	2020	2020
Gross Bad Loans	21,355	19,117	14,536	12,491	12,581	10,767
Writedowns	15,541	13,808	10,493	9,535	9,663	8,098
Coverage Ratio	72.8%	72.2%	72.2%	76.3%	76.8%	75.2%
Net Bad Loans	5,813	5,308	4,042	2,956	2,918	2,669
Gross Unlikely to pay	15,307	14,353	13,322	11,934	11,475	11,956
Writedowns	7,385	6,875	6,748	6,675	6,278	6,407
Coverage Ratio	48.2%	47.9%	50.7%	55.9%	54.7%	53.6%
Net Unlikely to pay	7,922	7,478	6,574	5,259	5,197	5,549
Gross Past-due loans	899	946	898	870	858	948
Writedowns	267	294	289	293	305	341
Coverage Ratio	29.7%	31.1%	32.2%	33.7%	35.5%	36.0%
Net Past-due loans	632	651	609	577	553	607
GROSS NON PERFORMING EXPOSURES	37,560	34,416	28,756	25,295	24,914	23,671
Writedowns	23,193	20,977	17,531	16,503	16,246	14,846
Coverage Ratio	61.7%	61.0%	61.0%	65.2%	65.2%	62.7%
NET NON PERFORMING EXPOSURES	14,367	13,438	11,225	8,792	8,668	8,825
GROSS PERFORMING LOANS	456,779	458,497	472,408	476,333	484,646	474,040
Writedowns	2,522	2,637	2,635	2,552	3,341	3,611
Coverage Ratio	0.6%	0.6%	0.6%	0.5%	0.7%	0.8%
NET PERFORMING LOANS	454,257	455,860	469,773	473,782	481,306	470,429
	1Q	2Q	3Q	4Q	1Q	2Q
	2019	2019	2019	2019	2020	2020
Gross Bad Loans ratio	4.3%	3.9%	2.9%	2.5%	2.5%	2.2%
Net Bad Loans ratio	1.2%	1.1%	0.8%	0.6%	0.6%	0.6%
Gross Unlikely to pay ratio	3.1%	2.9%	2.7%	2.4%	2.3%	2.4%
Net Unlikely to pay ratio	1.7%	1.6%	1.4%	1.1%	1.1%	1.2%
Gross Past-due loans ratio	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%
Net Past-due loans ratio	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
GROSS NPE Ratio	7.6%	7.0%	5.7%	5.0%	4.9%	4.8%
NET NPE Ratio	3.1%	2.9%	2.3%	1.8%	1.8%	1.8%

	Asset Quality - Group excl. Non Core
LOANS TO CUSTOMERS
	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2019	2019	2019	2020	2020
Gross Bad Loans	9,896	9,067	8,095	7,531	7,510	6,589
Writedowns	6,983	6,312	5,724	5,411	5,418	4,677
Coverage Ratio	70.6%	69.6%	70.7%	71.9%	72.1%	71.0%
Net Bad Loans	2,913	2,755	2,371	2,120	2,092	1,913
Gross Unlikely to pay	9,052	8,751	8,556	8,318	8,460	9,172
Writedowns	4,276	4,038	4,134	4,099	4,177	4,487
Coverage Ratio	47.2%	46.1%	48.3%	49.3%	49.4%	48.9%
Net Unlikely to pay	4,776	4,714	4,421	4,219	4,284	4,686
Gross Past-due loans	867	918	875	854	844	936
Writedowns	253	281	280	286	299	336
Coverage Ratio	29.2%	30.7%	32.0%	33.5%	35.4%	35.8%
Net Past-due loans	614	637	595	568	545	600
GROSS NON PERFORMING EXPOSURES	19,815	18,737	17,526	16,702	16,815	16,698
Writedowns	11,513	10,631	10,138	9,796	9,893	9,499
Coverage Ratio	58.1%	56.7%	57.8%	58.7%	58.8%	56.9%
NET NON PERFORMING EXPOSURES	8,302	8,106	7,388	6,906	6,922	7,199
GROSS PERFORMING LOANS	456,775	458,497	472,408	476,333	484,646	474,040
Writedowns	2,522	2,637	2,635	2,552	3,341	3,611
Coverage Ratio	0.6%	0.6%	0.6%	0.5%	0.7%	0.8%
NET PERFORMING LOANS	454,253	455,860	469,772	473,782	481,306	470,429
	1Q	2Q	3Q	4Q	1Q	2Q
	2019	2019	2019	2019	2020	2020
Gross Bad Loans ratio	2.1%	1.9%	1.7%	1.5%	1.5%	1.3%
Net Bad Loans ratio	0.6%	0.6%	0.5%	0.4%	0.4%	0.4%
Gross Unlikely to pay ratio	1.9%	1.8%	1.7%	1.7%	1.7%	1.9%
Net Unlikely to pay ratio	1.0%	1.0%	0.9%	0.9%	0.9%	1.0%
Gross Past-due loans ratio	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%
Net Past-due loans ratio	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
GROSS NPE Ratio	4.2%	3.9%	3.6%	3.4%	3.4%	3.4%
NET NPE Ratio	1.8%	1.7%	1.5%	1.4%	1.4%	1.5%

UniCredit Group - Strictly Confidential#

UniCredit Group - Strictly Confidential Asset Quality - Non Core #
LOANS TO CUSTOMERS
(mln Euro)	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Gross Bad Loans	11,459	10,049	6,440	4,960	5,071	4,178
Writedowns	8,558	7,496	4,770	4,124	4,245	3,422
Coverage Ratio	74.7%	74.6%	74.1%	83.1%	83.7%	81.9%
Net Bad Loans	2,901	2,553	1,671	837	825	756
Gross Unlikely to pay	6,255	5,602	4,766	3,616	3,015	2,783
Writedowns	3,108	2,837	2,614	2,576	2,101	1,920
Coverage Ratio	49.7%	50.6%	54.8%	71.2%	69.7%	69.0%
Net Unlikely to pay	3,147	2,765	2,152	1,040	913	863
Gross Past-due loans	32	28	23	16	14	12
Writedowns	14	13	9	7	6	5
Coverage Ratio	44.1%	45.9%	41.8%	43.9%	45.2%	44.7%
Net Past-due loans	18	15	13	9	7	7
GROSS NON PERFORMING EXPOSURES	17,746	15,679	11,230	8,592	8,099	6,973
Writedowns	11,681	10,346	7,393	6,707	6,353	5,347
Coverage Ratio	65.8%	66.0%	65.8%	78.1%	78.4%	76.7%
NET NON PERFORMING EXPOSURES	6,065	5,333	3,837	1,886	1,746	1,626
GROSS PERFORMING LOANS	4	0	0	0	0	0
Writedowns	0	0	0	0	0	0
Coverage Ratio	0.4%	n.m.	6.5%	n.m.	n.m.	n.m.
NET PERFORMING LOANS	4	0	0	0	0	0
	1Q	2Q	3Q	4Q	1Q	2Q
	2019	2019	2019	2019	2020	2020
Gross Bad Loans ratio	64.6%	64.1%	57.4%	57.7%	62.6%	59.9%
Net Bad Loans ratio	47.8%	47.9%	43.5%	44.4%	47.3%	46.5%
Gross Unlikely to pay ratio	35.2%	35.7%	42.4%	42.1%	37.2%	39.9%
Net Unlikely to pay ratio	51.8%	51.8%	56.1%	55.2%	52.3%	53.1%
Gross Past-due loans ratio	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%
Net Past-due loans ratio	0.3%	0.3%	0.3%	0.5%	0.4%	0.4%
GROSS NPE Ratio	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
NET NPE Ratio	99.9%	100.0%	100.0%	100.0%	100.0%	100.0%

# Asset Quality by Division
LOANS TO CUSTOMERS
(mln Euro)	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Commercial Banking Italy
Gross Non Performing Exposures Net Non Performing Exposures	8,612 3,777	8,204 3,740	7,303 3,273	7,294 3,132	7,446 3,134	7,359 3,321
NPE Coverage Ratio	56.1%	54.4%	55.2%	57.1%	57.9%	54.9%
Gross Customer Loans	142,991	142,707	141,719	140,273	139,593	138,577
Net Customer Loans	136,985	137,059	136,487	134,998	133,762	133,021
Gross NPE Ratio	6.0%	5.7%	5.2%	5.2%	5.3%	5.3%
Net NPE Ratio	2.8%	2.7%	2.4%	2.3%	2.3%	2.5%
Commercial Banking Germany
Gross Non Performing Exposures	1,611	1,561	1,540	1,476	1,498	1,519
Net Non Performing Exposures	819	840	831	824	808	851
NPE Coverage Ratio	49.1%	46.2%	46.0%	44.2%	46.1%	44.0%
Gross Customer Loans	87,314	88,757	89,701	88,342	89,515	90,765
Net Customer Loans	86,282	87,793	88,726	87,402	88,453	89,682
Gross NPE Ratio	1.8%	1.8%	1.7%	1.7%	1.7%	1.7%
Net NPE Ratio	0.9%	1.0%	0.9%	0.9%	0.9%	0.9%
Commercial Banking Austria
Gross Non Performing Exposures	1,848	1,848	1,809	1,784	1,699	1,655
Net Non Performing Exposures	852	871	875	889	856	847
NPE Coverage Ratio	53.9%	52.9%	51.6%	50.2%	49.6%	48.8%
Gross Customer Loans	45,760	45,908	46,240	46,253	46,368	45,802
Net Customer Loans	44,435	44,606	44,962	45,044	45,139	44,628
Gross NPE Ratio	4.0%	4.0%	3.9%	3.9%	3.7%	3.6%
Net NPE Ratio	1.9%	2.0%	1.9%	2.0%	1.9%	1.9%
CIB
Gross Non Performing Exposures	3,236	3,181	3,176	2,877	2,790	2,741
Net Non Performing Exposures	1,370	1,276	1,273	1,095	1,053	1,073
NPE Coverage Ratio	57.7%	59.9%	59.9%	61.9%	62.2%	60.9%
Gross Customer Loans	131,140	129,660	141,603	148,578	157,424	148,032
Net Customer Loans	129,036	127,494	139,477	146,601	155,373	145,925
Gross NPE Ratio	2.5%	2.5%	2.2%	1.9%	1.8%	1.9%
Net NPE Ratio	1.1%	1.0%	0.9%	0.7%	0.7%	0.7%
CEE
Gross Non Performing Exposures	4,469	3,901	3,651	3,258	3,376	3,419
Net Non Performing Exposures	1,467	1,360	1,113	959	1,071	1,106
NPE Coverage Ratio	67.2%	65.2%	69.5%	70.6%	68.3%	67.6%
Gross Customer Loans	69,521	70,259	70,684	70,671	69,342	68,357
Net Customer Loans	65,989	67,089	67,560	67,732	66,285	65,168
Gross NPE Ratio	6.4%	5.6%	5.2%	4.6%	4.9%	5.0%
Net NPE Ratio	2.2%	2.0%	1.6%	1.4%	1.6%	1.7%

Capital Position

GROUP CAPITAL STRUCTURE

	Basel 3
	1Q	2Q	3Q	4Q	1Q	2Q		Change %
(mln Euro)	2019	2019	2019	2019	2020	2020	q/q	y/y
Common Equity Tier I Fully Loaded	45,555	46,748	48,874	50,054	48,529	48,572	+0.1	+3.9
Common Equity Tier I Capital Transitional (*)	45,555	46,748	48,874	50,054	48,529	50,976	+5.0	+9.0
Tier I Capital Transitional	51,767	52,772	55,182	56,414	55,880	58,315	+4.4	+10.5
Total Capital Transitional	60,815	62,757	66,361	66,982	65,003	68,169	+4.9	+8.6
Total RWA Transitional	371,739	387,139	387,774	378,718	360,970	350,670	-2.9	-9.4
Credit Risk	327,789	343,313	343,677	334,264	313,780	302,195	-3.7	-12.0
Market Risk	11,456	11,481	11,660	11,490	14,619	15,589	+6.6	+35.8
Operational Risk	32,494	32,345	32,437	32,965	32,571	32,886	+1.0	+1.7

CAPITAL RATIOS

	1Q	2Q	3Q	4Q	1Q	2Q	Delta
	2019	2019	2019	2019	2020	2020	q/q	y/y
Common Equity Tier I Capital Ratio Transitional	12.25%	12.08%	12.60%	13.22%	13.44%	14.54%	109bp	246bp
Tier I Capital Ratio Transitional	13.93%	13.63%	14.23%	14.90%	15.48%	16.63%	115bp	300bp
Total Capital Ratio Transitional	16.36%	16.21%	17.11%	17.69%	18.01%	19.44%	143bp	323bp
MDA buffer (CET1 ratio) (**)	2.19%	2.01%	2.52%	3.12%	4.36%	5.49%	113bp	349bp

(*) Starting from 2Q 2020, the capital ratios includes the transitional arrangements related to IFRS9 as per CRR article 473a (**) MDA buffer for CET1 is regulatory relevant only versus the CET1 ratio Transitional, as 549bps.

Note:

Credit Risk RWA amount includes RWA equivalent to points B.1 "Credit and counterparty risk" and part of B.6 "Other calculation elements" related to Credit Risk of Pillar III "Capital Adequacy" table. Market Risk RWA amount includes RWA equivalent to points B.2 "Credit valuation adjustment risk" , B.3 "Settlement risk", B.4 "Market Risk" and part of B.6 "Other calculation elements" of Pillar III "Capital Adequacy" table. Operational Risk RWA amount includes RWA equivalent to point B.5 "Operational risk" of Pillar III "Capital Adequacy" table.

			Commercial Bank - Italy	#
INCOME STATEMENT
(mln Euro)	2020	1H 2019	y/y %	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Net interest	1,534	1,674	-8.3%	843	831	822	804	780	755
Dividends and other income from equity investments	56	50	+10.5%	29	22	34	38	29	27
Net fees and commissions	1,692	1,829	-7.5%	912	917	894	929	917	775
Net trading income	-1	21	n.m.	12	8	12	46	-9	8
Net other expenses/income	-35	-12	n.m.	-20	9	-21	-59	-15	-20
OPERATING INCOME	3,246	3,563	-8.9%	1,776	1,787	1,742	1,757	1,702	1,545
Payroll costs	-1,056	-1,086	-2.8%	-544	-541	-535	-536	-534	-522
Other administrative expenses	-949	-988	-3.9%	-495	-493	-489	-483	-469	-480
Recovery of expenses	192	213	-9.6%	105	108	101	110	94	98
Amortisation & depreciation	-44	-44	-0.2%	-21	-23	-22	-24	-22	-22
Operating costs	-1,856	-1,905	-2.6%	-955	-950	-944	-933	-930	-926
OPERATING PROFIT	1,390	1,658	-16.1%	821	837	798	824	771	619
Net write-downs of loans	-1,096	-522	n.m.	-206	-316	-249	-270	-649	-446
NET OPERATING PROFIT	295	1,136	-74.0%	615	521	550	554	122	173
Other Charges & Provisions	-92	-150	-38.7%	-78	-72	-92	-100	-69	-23
o/w Systemic Charges	-70	-56	+26.8%	-57	1	-81	-11	-59	-12
o/w DGS	0	0	n.m.	0	0	-81	-11	0	0
o/w Bank levies	-1	0	n.m.	0	0	0	0	0	-1
o/w SRF	-69	-55	+25.9%	-57	2	0	0	-58	-11
Integration costs	-1,029	-1	n.m.	0	-1	0	-81	-1,027	-3
Net income from investments	-8	-83	-90.7%	-6	-78	0	0	-1	-7
PROFIT BEFORE TAX	-834	902	n.m.	531	371	457	373	-974	140
CONSOLIDATED PROFIT	-611	617	n.m.	384	233	323	410	-719	108
INCOME STATEMENT RATIOS
Cost income ratio	57.2%	53.5%	3.7 p.p.	53.8%	53.1%	54.2%	53.1%	54.7%	59.9%
Cost of Risk (LLP annualised on Avg Loans) in basis points	164	76	88	60	92	73	80	193	134
VOLUMES
Customers Loans (excl. Repos and IC)	132,998	137,035	-2.9%	136,960	137,035	136,462	134,974	133,737	132,998
Customer Depos (excl. Repos and IC)	159,581	151,437	+5.4%	147,703	151,437	153,067	153,283	154,830	159,581
Total RWA	90,253	98,247	-8.1%	89,372	98,247	97,645	96,067	93,936	90,253
OTHER FIGURES
FTEs (100%)	27,941	28,836	-3.1%	29,035	28,836	28,571	28,379	28,267	27,941
ROAC	-10.7%	10.6%	-21.2 p.p.	13.6%	7.7%	10.3%	13.4%	-24.7%	3.8%

	Commercial Bank - Germany #
INCOME STATEMENT
(mln Euro)	2020	1H 2019	y/y %	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Net interest	800	767	+4.3%	383	384	379	384	420	380
Dividends and other income from equity investments	0	2	-93.5%	2	0	0	0	0	0
Net fees and commissions	365	359	+1.6%	184	175	178	178	196	169
Net trading income	12	11	+9.1%	6	6	3	46	-3	15
Net other expenses/income	27	46	-40.6%	22	24	14	37	9	19
OPERATING INCOME	1,205	1,185	+1.7%	596	589	574	646	622	584
Payroll costs	-480	-470	+2.2%	-236	-234	-234	-241	-242	-238
Other administrative expenses	-351	-338	+3.8%	-178	-161	-161	-172	-180	-171
Recovery of expenses	6	4	+38.7%	2	2	2	3	3	3
Amortisation & depreciation	-10	-9	+9.2%	-5	-4	-5	-6	-5	-5
Operating costs	-835	-813	+2.8%	-416	-397	-397	-416	-424	-411
OPERATING PROFIT	370	372	-0.6%	180	192	176	230	197	172
Net write-downs of loans	-225	-26	n.m.	-21	-4	-27	-48	-153	-72
NET OPERATING PROFIT	145	347	-58.2%	159	188	149	182	45	100
Other Charges & Provisions	-53	41	n.m.	52	-10	-19	47	-37	-16
o/w Systemic Charges	-55	-51	+6.7%	-40	-11	-7	-7	-40	-14
o/w DGS	-11	-15	-27.7%	-7	-8	-7	-7	-5	-5
o/w Bank levies	0	0	n.m.	0	0	0	0	0	0
o/w SRF	-44	-36	+21.0%	-32	-4	0	0	-35	-9
Integration costs	-1	0	n.m.	0	0	0	-219	0	-1
Net income from investments	0	73	-99.9%	41	32	96	165	0	0
PROFIT BEFORE TAX	91	461	-80.2%	252	209	226	176	8	83
CONSOLIDATED PROFIT	102	297	-65.8%	141	156	165	90	16	86
INCOME STATEMENT RATIOS
Cost income ratio	69.3%	68.6%	+0.7 p.p.	69.7%	67.4%	69.3%	64.4%	68.2%	70.4%
Cost of Risk (LLP annualised on Avg Loans) in basis points	51	6	45	10	2	12	22	69	32
VOLUMES
Customers Loans (excl. Repos and IC)	89,542	87,596	+2.2%	86,069	87,596	88,519	87,172	88,353	89,542
Customer Depos (excl. Repos and IC)	95,128	87,301	+9.0%	87,210	87,301	89,098	89,798	91,501	95,128
Total RWA	37,673	36,041	+4.5%	37,123	36,041	37,242	36,171	36,928	37,673
OTHER FIGURES
FTEs (100%)	8,967	9,023	-0.6%	9,043	9,023	9,113	9,096	9,030	8,967
ROAC	4.3%	12.8%	-8.6 p.p.	12.2%	13.5%	14.2%	7.7%	1.2%	7.3%

			Commercial Bank - Austria	#
INCOME STATEMENT
(mln Euro)	2020	1H 2019	y/y %	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Net interest	311	340	-8.6%	168	172	177	171	155	156
Dividends and other income from equity investments	23	76	-69.3%	30	46	55	49	28	-5
Net fees and commissions	287	293	-1.9%	145	148	147	166	160	127
Net trading income	4	10	-63.5%	-1	10	6	19	-8	12
Net other expenses/income	20	22	-11.7%	12	10	5	11	6	13
OPERATING INCOME	645	741	-12.9%	354	387	390	415	342	303
Payroll costs	-266	-260	+2.2%	-142	-118	-136	-142	-134	-132
Other administrative expenses	-225	-217	+4.0%	-111	-106	-103	-104	-117	-109
Recovery of expenses	0	0	-100.0%	0	0	0	0	0	0
Amortisation & depreciation	-4	-3	+41.7%	-2	0	-2	-2	-2	-2
Operating costs	-495	-479	+3.2%	-255	-224	-242	-248	-252	-242
OPERATING PROFIT	150	262	-42.5%	99	162	147	168	90	61
Net write-downs of loans	-84	10	n.m.	8	2	-19	-31	-85	1
NET OPERATING PROFIT	66	271	-75.7%	107	164	128	136	5	61
Other Charges & Provisions	-78	-60	+30.6%	-51	-9	-3	-9	-77	-1
o/w Systemic Charges	-83	-93	-10.8%	-90	-4	-4	-4	-78	-5
o/w DGS	-18	-18	+0.2%	-18	0	0	-1	-18	0
o/w Bank levies	-39	-44	-12.4%	-40	-4	-4	-4	-35	-3
o/w SRF	-26	-31	-15.1%	-31	0	0	0	-25	-2
Integration costs	0	1	n.m.	0	1	0	-133	0	0
Net income from investments	-56	9	n.m.	6	2	-2	-11	3	-59
PROFIT BEFORE TAX	-68	221	n.m.	62	158	123	-17	-70	1
CONSOLIDATED PROFIT	-55	224	n.m.	67	156	117	222	-58	3
INCOME STATEMENT RATIOS
Cost income ratio	76.7%	64.7%	+12.0 p.p.	72.0%	58.0%	62.2%	59.6%	73.7%	80.0%
Cost of Risk (LLP annualised on Avg Loans) in basis points	38	-4	42	-7	-2	17	28	75	-1
VOLUMES
Customers Loans (excl. Repos and IC)	44,164	43,947	+0.5%	43,699	43,947	44,368	44,521	44,654	44,164
Customer Depos (excl. Repos and IC)	49,957	47,491	+5.2%	47,479	47,491	47,334	48,454	48,290	49,957
Total RWA	23,615	22,793	+3.6%	23,125	22,793	23,590	23,141	23,244	23,615
OTHER FIGURES
FTEs (100%)	4,754	4,809	-1.2%	4,797	4,809	4,853	4,798	4,789	4,754
ROAC	-4.2%	15.8%	-20.0 p.p.	9.5%	22.1%	16.4%	30.9%	-8.6%	0.0%

INCOME STATEMENT

		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	2019	2019	2019	2019	2020	2020
Net interest	1,202	1,093	+10.0%	549	544	573	593	583	619
Dividends and other income from equity investments	-6	1	n.m.	0	0	0	1	-6	0
Net fees and commissions	308	242	+27.2%	110	132	150	163	172	136
Net trading income	264	552	-52.2%	344	209	265	234	59	205
Net other expenses/income	14	37	-62.5%	37	0	27	54	1	13
OPERATING INCOME	1,783	1,926	-7.5%	1,040	886	1,015	1,044	809	974
Payroll costs	-302	-316	-4.4%	-161	-156	-151	-163	-159	-143
Other administrative expenses	-455	-455	-0.0%	-230	-225	-211	-238	-237	-218
Recovery of expenses	1	1	-1.0%	0	1	1	1	1	0
Amortisation & depreciation	-7	-8	-1.9%	-4	-4	-4	-4	-4	-4
Operating costs	-763	-778	-1.8%	-394	-384	-366	-405	-399	-364
OPERATING PROFIT	1,019	1,148	-11.3%	646	503	649	639	410	610
Net write-downs of loans	-400	-151	n.m.	-44	-106	-6	47	-157	-242
NET OPERATING PROFIT	620	998	-37.9%	602	396	643	686	252	367
Other Charges & Provisions	-157	161	n.m.	169	-8	3	0	-130	-27
o/w Systemic Charges	-163	-134	+21.7%	-124	-10	-3	-3	-136	-27
o/w DGS	-4	-4	-11.2%	-2	-2	-2	-2	-2	-2
o/w Bank levies	-18	-12	+45.7%	-11	-1	-1	-1	-16	-2
o/w SRF	-141	-118	+20.3%	-111	-7	0	0	-118	-23
Integration costs	-28	0	n.m.	-1	1	0	-94	-27	-1
Net income from investments	-77	-232	-67.0%	12	-244	-17	-51	-88	12
PROFIT BEFORE TAX	358	927	-61.3%	781	146	630	541	8	351
CONSOLIDATED PROFIT	188	612	-69.3%	502	110	433	369	-23	210
INCOME STATEMENT RATIOS
Cost income ratio	42.8%	40.4%	+2.4 p.p.	37.9%	43.3%	36.0%	38.8%	49.4%	37.4%
Cost of Risk (LLP annualised on Avg Loans) in basis points	53	23	30	14	33	2	-13	42	64
VOLUMES
Customers Loans (excl. Repos and IC)	95,700	87,846	+8.9%	87,248	87,846	88,021	85,970	97,020	95,700
Customer Depos (excl. Repos and IC)	54,351	50,025	+8.6%	51,842	50,025	53,342	55,349	55,371	54,351
Total RWA	91,083	89,065	+2.3%	84,230	89,065	88,493	85,081	91,289	91,083
OTHER FIGURES
FTEs (100%)	3,494	3,548	-1.5%	3,540	3,548	3,535	3,494	3,498	3,494
ROAC	3.4%	11.2%	-7.8 p.p.	18.5%	4.0%	15.2%	13.4%	-0.8%	7.5%

CIB

			CIB Division - Additional Disclosure (managerial figures)		#
(mln Euro)	2020	1H 2019	y/y %	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
TOTAL REVENUES CIB	1,783	1,926	-7.5%	1,040	886	1,015	1,044	809	974
Financing & Advisory (F&A)	651	645	+1.1%	352	293	339	364	306	346
o/w Italy	214	232	-7.5%	118	114	129	113	76	139
o/w Germany o/w Austria	353 90	326 92	+8.1% -2.4%	190 47	137 45	164 49	210 44	189 44	164 46
Markets	875	990	-11.6%	543	447	512	533	370	505
Global Transaction Banking (GTB)	276	300	-8.0%	151	149	161	146	144	133
Other	-20	-9	n.m.	-7	-2	3	1	-11	-10
TOTAL COSTS CIB	-763	-778	-1.8%	-394	-384	-366	-405	-399	-364
Financing & Advisory (F&A)	-248	-246	+0.4%	-125	-121	-118	-133	-129	-119
o/w Italy	-64	-64	-0.6%	-31	-33	-31	-35	-32	-32
o/w Germany	-157	-156	+0.7%	-81	-76	-75	-85	-83	-74
o/w Austria	-32	-32	+0.3%	-16	-16	-16	-16	-16	-16
Markets	-385	-402	-4.2%	-205	-198	-187	-198	-204	-182
Global Transaction Banking (GTB)	-118	-116	+2.0%	-57	-59	-55	-66	-61	-57
Other	-12	-13	-6.3%	-7	-6	-4	-8	-6	-6
TOTAL LOAN LOSS PROVISIONS CIB	-400	-151	n.m.	-44	-106	-6	47	-157	-242
Financing & Advisory (F&A)	-363	-134	n.m.	-33	-101	-6	112	-137	-226
o/w Italy	-107	-85	+26.0%	-29	-56	-15	13	-77	-30
o/w Germany	-205	-52	n.m.	-5	-46	7	97	-43	-162
o/w Austria	-51	3	n.m.	1	2	2	2	-17	-34
Markets	-9	-18	-50.5%	-15	-3	1	-7	-3	-5
Global Transaction Banking (GTB)	-28	1	n.m.	4	-2	-1	-58	-17	-11
Other	0	0	-96.0%	0	0	0	0	0	0
TOTAL NET OPERATING PROFIT CIB	620	998	-37.9%	602	396	643	686	252	367
Financing & Advisory (F&A)	41	264	-84.6%	193	71	214	343	40	1
o/w Italy	43	82	-47.6%	57	25	83	91	-34	77
o/w Germany	-10	119	n.m.	104	15	96	223	63	-73
o/w Austria	7	63	-88.7%	32	31	35	30	10	-3
Markets	481	570	-15.7%	324	246	325	328	163	318
Global Transaction Banking (GTB)	130	185	-29.8%	98	88	105	22	66	64
Other	-32	-22	+45.9%	-13	-9	-1	-7	-16	-16
RWA CIB	91,083	89,065	+2.3%	84,230	89,065	88,493	85,081	91,289	91,083
Financing & Advisory (F&A)	47,780	46,528	+2.7%	44,880	46,528	45,844	43,783	46,148	47,780
o/w Italy	20,796	20,108	+3.4%	18,258	20,108	19,479	18,770	19,660	20,796
o/w Germany	19,654	20,349	-3.4%	20,071	20,349	20,098	18,596	19,833	19,654
o/w Austria	7,330	6,071	+20.7%	6,552	6,071	6,267	6,417	6,655	7,330
Markets	30,687	28,842	+6.4%	25,732	28,842	28,990	27,975	32,176	30,687
Global Transaction Banking (GTB)	12,024	13,414	-10.4%	13,318	13,414	13,362	13,031	12,348	12,024
Other	592	280	n.m.	299	280	297	292	617	592

UniCredit Group - Strictly Confidential# GCC

		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	2019	2019	2019	2019	2020	2020
Net interest	-136	-124	+9.7%	-49	-75	-86	-96	-69	-67
Dividends and other income from equity investments	77	180	-57.1%	101	79	87	40	45	32
Net fees and commissions	-15	-29	-46.8%	-17	-12	-13	-26	-14	-1
Net trading income	29	-73	n.m.	-9	-64	34	9	9	19
Net other expenses/income	-68	-69	-0.6%	-15	-54	-16	63	-18	-50
OPERATING INCOME	-114	-115	-0.9%	11	-126	6	-10	-48	-66
Payroll costs	-527	-534	-1.3%	-270	-264	-258	-254	-266	-261
Other administrative expenses	719	751	-4.3%	368	382	374	349	364	354
Recovery of expenses	26	27	-3.9%	14	13	13	16	11	14
Amortisation & depreciation	-390	-393	-0.8%	-195	-198	-201	-181	-185	-205
Operating costs	-172	-149	+15.5%	-83	-67	-73	-69	-75	-97
OPERATING PROFIT	-286	-264	+8.4%	-71	-192	-67	-79	-122	-164
Net write-downs of loans	14	-3	n.m.	-1	-3	0	-3	4	10
NET OPERATING PROFIT	-272	-267	+2.0%	-72	-195	-67	-82	-119	-154
Other Charges & Provisions	-188	-194	-2.9%	-78	-115	-17	-149	-89	-99
o/w Systemic Charges	-168	-167	+0.8%	-80	-87	-35	-27	-77	-91
o/w DGS	-8	-17	-50.8%	-9	-9	-8	0	-3	-5
o/w Bank levies	-54	-55	-2.1%	-28	-27	-27	-27	-27	-26
o/w SRF	-106	-95	+11.9%	-43	-51	0	0	-46	-60
Integration costs	-265	-2	n.m.	-1	-1	-1	-105	-264	-1
Net income from investments	-1,090	41	n.m.	37	4	2	-561	-1,156	66
PROFIT BEFORE TAX	-1,815	-421	n.m.	-115	-307	-84	-897	-1,628	-187
CONSOLIDATED PROFIT	-2,161	950	n.m.	-41	991	-44	-1,126	-2,035	-125
INCOME STATEMENT RATIOS
Cost income ratio	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.
Cost of Risk (LLP annualised on Avg Loans) in basis points	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.
VOLUMES
Customers Loans (excl. Repos and IC)	1,988	3,391	-41.4%	3,449	3,391	3,389	2,295	2,227	1,988
Customer Depos (excl. Repos and IC)	2,070	2,635	-21.5%	2,675	2,635	2,317	2,332	2,329	2,070
Total RWA	40,437	58,298	-30.6%	59,731	58,298	59,886	59,733	42,134	40,437
OTHER FIGURES
FTEs (100%)	14,012	14,103	-0.6%	14,261	14,103	14,042	14,042	13,957	14,012
o/w COO FTEs	11,317	11,351	-0.3%	11,499	11,351	11,281	11,303	11,260	11,317

				CEE Division	#
INCOME STATEMENT
(mln Euro)	2020	1H 2019	y/y %	y/y % at const. FX	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Net interest	1,190	1,286	-7.4%	-5.5%	641	644	664	661	631	559
Dividends and other income from equity investments	13	13	+3.6%	+3.6%	5	7	7	5	6	8
Net fees and commissions	360	405	-11.1%	-9.1%	204	201	211	218	187	173
Net trading income	234	271	-13.7%	-11.9%	134	137	91	133	128	106
Net other expenses/income	12	17	-31.6%	-30.5%	8	9	10	11	7	4
OPERATING INCOME	1,809	1,991	-9.2%	-7.2%	991	1,000	983	1,027	959	850
Payroll costs	-390	-392	-0.6%	+1.5%	-193	-199	-200	-206	-200	-190
Other administrative expenses	-291	-289	+0.8%	+3.0%	-138	-151	-144	-164	-145	-146
Recovery of expenses	21	24	-9.9%	-3.0%	12	12	12	13	11	10
Amortisation & depreciation	-94	-93	+1.1%	+3.2%	-45	-47	-46	-51	-47	-46
Operating costs	-753	-750	+0.5%	+2.4%	-364	-385	-378	-407	-381	-372
OPERATING PROFIT	1,056	1,241	-15.0%	-13.1%	627	614	605	620	578	478
Net write-downs of loans	-495	-186	n.m.	n.m.	-100	-86	-115	-152	-297	-199
NET OPERATING PROFIT	560	1,056	-46.9%	-45.6%	527	529	490	468	281	279
Other Charges & Provisions	-148	-145	+1.9%	+4.1%	-134	-11	-46	-65	-132	-16
o/w Systemic Charges	-149	-140	+6.0%	+8.7%	-133	-7	-16	-28	-135	-14
o/w DGS	-49	-48	+1.5%	+3.5%	-36	-12	-14	-13	-35	-13
o/w Bank levies	-24	-20	+20.3%	+27.5%	-18	-2	-2	-15	-20	-4
o/w SRF	-76	-72	+5.1%	+6.8%	-79	7	0	0	-79	4
Integration costs	-15	-2	n.m.	n.m.	0	-2	0	-18	-15	0
Net income from investments	-4	-2	n.m.	n.m.	-1	-1	2	-22	4	-8
PROFIT BEFORE TAX	393	907	-56.6%	-55.5%	392	515	445	364	138	255
CONSOLIDATED PROFIT	333	727	-54.1%	-53.0%	310	417	367	304	115	218
INCOME STATEMENT RATIOS
Cost income ratio	41.6%	37.7%	+4.0 p.p.		36.8%	38.5%	38.5%	39.6%	39.8%	43.8%
Cost of Risk (LLP annualised on Avg Loans) in basis points	149	56	93		61	52	68	90	177	121
VOLUMES
Customers Loans (excl. Repos and IC)	64,974	67,009	-3.0%		65,758	67,009	67,334	67,534	66,091	64,974
Customer Depos (excl. Repos and IC)	71,756	70,632	+1.6%		68,867	70,632	71,575	70,745	70,494	71,756
Total RWA	58,423	67,455	-13.4%		66,463	67,455	67,276	67,560	63,806	58,423
OTHER FIGURES
FTEs (100%)	24,238	24,192	+0.2%		24,110	24,192	24,219	24,142	24,111	24,238
ROAC	7.7%	17.6%	-9.9 p.p.		15.3%	19.9%	17.4%	14.3%	4.9%	10.7%

N.B. CEE results include CEE Countries results and UniCredit S.p.A. CEE operations.

CEE - Russia

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	233	226	+3.2%	+7.3%	112	114	131	131	118	115
Dividends and other income from equity investments	10	8	+16.3%	+16.3%	3	5	6	4	4	6
Net fees and commissions	50	59	-15.2%	-11.9%	28	31	31	33	28	23
Net trading income	50	41	+21.2%	+26.0%	21	19	26	13	38	12
Net other expenses/income	0	1	-63.2%	-61.8%	1	1	1	2	0	0
OPERATING INCOME	343	336	+2.2%	+6.1%	165	170	195	183	188	155
Payroll costs	-69	-69	-0.1%	+3.9%	-34	-35	-35	-38	-36	-33
Other administrative expenses	-39	-33	+19.6%	+24.4%	-16	-16	-17	-19	-18	-21
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-23	-22	+3.7%	+7.8%	-11	-11	-10	-11	-12	-11
Operating costs	-131	-123	+5.8%	+10.0%	-61	-63	-63	-69	-66	-64
OPERATING PROFIT	212	212	+0.1%	+3.9%	105	108	132	114	121	91
Net write-downs of loans	-102	-72	+41.5%	+47.1%	-48	-24	-35	-27	-45	-57
NET OPERATING PROFIT	111	140	-21.1%	-18.1%	56	84	97	87	76	35
Other Charges & Provisions	-11	-6	+93.3%	n.m.	0	-5	-7	-8	-5	-6
o/w Systemic Charges	-12	-11	+9.3%	+13.6%	-5	-6	-6	-6	-6	-6
o/w DGS	-12	-11	+9.3%	+13.6%	-5	-6	-6	-6	-6	-6
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	0	0	n.m.	n.m.	0	0	0	0	0	0
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	-1	-1	-14.8%	-13.5%	-2	0	-1	-5	1	-2
PROFIT BEFORE TAX	99	133	-26.1%	-23.2%	54	79	90	74	72	27
CONSOLIDATED PROFIT	80	108	-25.6%	-22.7%	44	64	73	58	58	22
INCOME STATEMENT RATIOS
Cost income ratio	38.1%	36.8%	+1.3 p.p.		36.8%	36.7%	32.1%	37.8%	35.4%	41.3%
Cost of Risk (LLP annualised on Avg Loans) in basis points	209	132	77		177	87	127	98	180	241
VOLUMES
Customers Loans (excl. Repos and IC)	9,047	10,740	-15.8%		10,819	10,740	11,098	10,372	9,572	9,047
Customer Depos (excl. Repos and IC)	13,278	13,599	-2.4%		14,112	13,599	14,233	12,287	13,692	13,278
Total RWA	11,320	14,404	-21.4%		15,610	14,404	14,731	14,370	12,185	11,320
OTHER FIGURES
FTEs (100%)	4,088	4,159	-1.7%		4,170	4,159	4,201	4,115	4,095	4,088
ROAC	9.2%	11.5%	-2.3 p.p.		9.7%	13.3%	15.7%	12.7%	13.0%	4.9%

CEE - Czech Republic & Slovakia

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	241	279	-13.6%	-11.4%	141	138	145	143	141	100
Dividends and other income from equity investments	1	1	-26.9%	-26.9%	1	1	1	1	1	0
Net fees and commissions	67	77	-12.5%	-10.4%	40	37	38	42	35	33
Net trading income	42	59	-29.1%	-27.3%	28	31	4	29	10	32
Net other expenses/income	3	5	-43.4%	-42.7%	3	2	3	1	2	1
OPERATING INCOME	354	421	-15.9%	-13.9%	212	209	189	216	188	166
Payroll costs	-68	-71	-3.5%	-1.1%	-34	-36	-35	-38	-36	-32
Other administrative expenses	-51	-51	-0.1%	+2.4%	-23	-28	-23	-28	-25	-26
Recovery of expenses	0	0	-100.0%	-100.0%	0	0	0	0	0	0
Amortisation & depreciation	-18	-17	+3.2%	+5.7%	-9	-9	-8	-7	-9	-9
Operating costs	-137	-139	-1.4%	+1.1%	-66	-73	-66	-74	-70	-67
OPERATING PROFIT	217	282	-23.1%	-21.2%	146	137	123	142	118	100
Net write-downs of loans	-70	-21	n.m.	n.m.	-16	-5	-3	-5	-47	-23
NET OPERATING PROFIT	147	261	-43.7%	-42.2%	130	131	120	138	71	77
Other Charges & Provisions	-28	-24	+12.6%	+15.5%	-29	5	-2	-2	-25	-3
o/w Systemic Charges	-28	-24	+15.1%	+18.0%	-29	5	-2	-2	-25	-3
o/w DGS	-1	-1	+8.7%	+11.4%	-1	0	0	0	-1	0
o/w Bank levies	-8	-4	+88.0%	+92.7%	-2	-2	-2	-2	-4	-4
o/w SRF	-18	-18	-1.6%	+0.9%	-26	8	0	0	-19	1
Integration costs	0	0	n.m.	n.m.	0	0	0	-8	0	0
Net income from investments	-3	-1	n.m.	n.m.	-1	0	0	8	0	-3
PROFIT BEFORE TAX	116	236	-50.7%	-49.5%	100	136	118	135	46	70
CONSOLIDATED PROFIT	95	190	-49.7%	-48.4%	80	109	94	109	37	59
INCOME STATEMENT RATIOS
Cost income ratio	38.6%	32.9%	+5.7 p.p.		31.0%	34.8%	35.1%	34.1%	37.3%	40.1%
Cost of Risk (LLP annualised on Avg Loans) in basis points	82	26	56		40	13	8	11	110	54
VOLUMES
Customers Loans (excl. Repos and IC)	17,155	16,379	+4.7%		16,022	16,379	16,724	17,319	16,968	17,155
Customer Depos (excl. Repos and IC)	15,964	17,755	-10.1%		15,850	17,755	16,939	16,238	16,221	15,964
Total RWA	12,792	14,242	-10.2%		13,286	14,242	14,010	14,004	14,071	12,792
OTHER FIGURES
FTEs (100%)	3,353	3,365	-0.4%		3,373	3,365	3,357	3,354	3,342	3,353
ROAC	10.3%	21.7%	-11.4 p.p.		19.0%	24.4%	20.5%	23.8%	7.5%	13.2%

CEE - Hungary

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	94	92	+2.2%	+10.1%	46	46	48	48	48	47
Dividends and other income from equity investments	0	1	-98.6%	-98.5%	1	0	0	0	0	0
Net fees and commissions	35	42	-16.1%	-9.6%	20	22	22	21	18	17
Net trading income	24	28	-15.0%	-8.4%	16	12	10	14	15	9
Net other expenses/income	2	2	-35.6%	-33.1%	1	1	1	3	2	0
OPERATING INCOME	155	166	-6.3%	+0.9%	83	82	81	86	82	73
Payroll costs	-29	-29	-2.4%	+5.2%	-15	-14	-15	-15	-15	-14
Other administrative expenses	-41	-44	-6.6%	+0.7%	-22	-23	-22	-24	-21	-20
Recovery of expenses	21	24	-9.6%	-2.6%	12	12	12	13	11	10
Amortisation & depreciation	-5	-4	+10.8%	+19.4%	-2	-2	-2	-2	-2	-2
Operating costs	-53	-54	-1.7%	+5.9%	-27	-27	-27	-29	-27	-26
OPERATING PROFIT	102	112	-8.5%	-1.5%	57	55	54	57	56	46
Net write-downs of loans	-27	-3	n.m.	n.m.	-5	2	-5	-6	-25	-2
NET OPERATING PROFIT	75	108	-30.9%	-25.6%	52	57	48	50	30	44
Other Charges & Provisions	-26	-27	-2.7%	+4.8%	-27	0	1	2	-25	-1
o/w Systemic Charges	-28	-26	+5.2%	+13.3%	-27	1	1	2	-27	-1
o/w DGS	-6	-6	-3.0%	+4.5%	-7	1	0	2	-6	0
o/w Bank levies	-16	-16	+3.5%	+11.5%	-16	0	0	0	-16	0
o/w SRF	-6	-5	+20.9%	+30.3%	-4	0	0	0	-5	-1
Integration costs	0	-2	-100.0%	-100.0%	0	-2	0	0	0	0
Net income from investments	2	0	n.m.	n.m.	0	1	1	1	3	-1
PROFIT BEFORE TAX	50	80	-37.0%	-32.2%	24	55	50	53	8	42
CONSOLIDATED PROFIT	41	68	-38.8%	-34.1%	20	48	43	47	5	36
INCOME STATEMENT RATIOS
Cost income ratio	34.2%	32.6%	+1.6 p.p.		31.9%	33.4%	33.2%	33.9%	32.5%	36.2%
Cost of Risk (LLP annualised on Avg Loans) in basis points	122	15	107		47	-17	47	57	223	19
VOLUMES
Customers Loans (excl. Repos and IC)	4,372	4,547	-3.9%		4,388	4,547	4,516	4,509	4,460	4,372
Customer Depos (excl. Repos and IC)	5,774	5,889	-2.0%		6,012	5,889	5,633	6,268	5,549	5,774
Total RWA	3,993	4,624	-13.6%		4,390	4,624	4,710	4,888	4,470	3,993
OTHER FIGURES
FTEs (100%)	1,754	1,736	+1.1%		1,746	1,736	1,733	1,744	1,759	1,754
ROAC	12.9%	23.4%	-10.4 p.p.		13.4%	32.9%	28.7%	29.8%	1.7%	25.3%

CEE - Slovenia

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	23	23	+0.3%	+0.3%	11	12	12	11	11	11
Dividends and other income from equity investments	0	0	-100.0%	-100.0%	0	0	0	0	0	0
Net fees and commissions	11	13	-15.3%	-15.3%	7	6	6	6	6	5
Net trading income	-1	6	n.m.	n.m.	4	2	1	1	-2	1
Net other expenses/income	0	0	-89.8%	-89.8%	0	0	0	0	0	0
OPERATING INCOME	33	42	-21.9%	-21.9%	22	20	19	19	15	17
Payroll costs	-12	-13	-4.0%	-4.0%	-6	-7	-6	-6	-6	-6
Other administrative expenses	-6	-6	-5.8%	-5.8%	-3	-3	-3	-4	-3	-3
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-3	-3	-7.1%	-7.1%	-2	-2	-2	-2	-2	-1
Operating costs	-21	-23	-5.1%	-5.1%	-11	-12	-11	-12	-11	-11
OPERATING PROFIT	11	19	-41.9%	-41.9%	11	8	8	6	4	7
Net write-downs of loans	-7	5	n.m.	n.m.	2	3	6	0	-5	-3
NET OPERATING PROFIT	4	24	-83.6%	-83.6%	13	11	14	7	0	4
Other Charges & Provisions	-3	-4	-36.5%	-36.5%	-3	-1	0	0	-3	0
o/w Systemic Charges	-3	-3	+1.2%	+1.2%	-2	-1	0	0	-3	0
o/w DGS	-1	-1	+26.7%	+26.7%	-1	0	0	0	-1	0
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	-1	-2	-11.6%	-11.6%	-1	0	0	0	-2	0
Integration costs	0	0	n.m.	n.m.	0	0	0	-1	0	0
Net income from investments	0	0	-24.3%	-24.3%	0	0	0	0	0	0
PROFIT BEFORE TAX	1	20	-94.8%	-94.8%	10	10	14	6	-3	4
CONSOLIDATED PROFIT	1	16	-91.8%	-91.8%	8	8	12	4	-2	3
INCOME STATEMENT RATIOS
Cost income ratio	65.9%	54.2%	+11.7 p.p.		50.3%	58.5%	58.9%	65.4%	71.2%	61.4%
Cost of Risk (LLP annualised on Avg Loans) in basis points	73	-52	124		-46	-58	-124	-7	93	52
VOLUMES
Customers Loans (excl. Repos and IC)	1,899	1,943	-2.2%		1,984	1,943	2,003	1,991	1,973	1,899
Customer Depos (excl. Repos and IC)	2,080	2,007	+3.7%		1,966	2,007	2,066	2,001	2,030	2,080
Total RWA	1,461	1,405	+4.0%		1,371	1,405	1,416	1,497	1,472	1,461
OTHER FIGURES
FTEs (100%)	548	549	-0.2%		543	549	545	537	535	548
ROAC	0.7%	18.1%	-17.3 p.p.		18.2%	17.9%	25.7%	8.3%	-5.3%	6.8%

UniCredit Group - Strictly Confidential# CEE - Croatia

INCOME STATEMENT

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	166	196	-15.2%	-13.9%	97	98	90	92	86	81
Dividends and other income from equity investments	2	2	+10.5%	+10.5%	1	1	1	1	1	1
Net fees and commissions	66	72	-8.5%	-7.1%	41	31	42	37	35	31
Net trading income	31	39	-20.0%	-18.8%	16	23	12	21	24	7
Net other expenses/income	4	5	-23.9%	-22.7%	2	3	2	3	2	1
OPERATING INCOME	269	314	-14.3%	-13.0%	158	156	147	154	148	121
Payroll costs	-59	-61	-3.2%	-1.7%	-30	-31	-31	-31	-31	-28
Other administrative expenses	-36	-37	-0.9%	+0.6%	-18	-19	-20	-22	-19	-18
Recovery of expenses	0	0	-100.0%	-100.0%	0	0	0	0	0	0
Amortisation & depreciation	-12	-14	-10.3%	-8.9%	-7	-7	-7	-7	-6	-6
Operating costs	-108	-111	-3.3%	-1.8%	-55	-57	-57	-60	-55	-52
OPERATING PROFIT	161	202	-20.3%	-19.1%	103	99	90	94	93	68
Net write-downs of loans	-84	-19	n.m.	n.m.	-6	-13	-19	-27	-50	-34
NET OPERATING PROFIT	77	184	-57.8%	-57.2%	97	86	71	66	43	35
Other Charges & Provisions	-17	-23	-27.0%	-25.9%	-15	-9	-31	-23	-15	-2
o/w Systemic Charges	-18	-18	-0.8%	+0.7%	-13	-5	-5	-5	-16	-2
o/w DGS	-9	-8	+18.0%	+19.8%	-4	-4	-5	-5	-5	-5
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	-9	-10	-15.3%	-14.0%	-9	-1	0	0	-11	2
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	-2	0	n.m.	n.m.	1	0	1	-27	-1	-1
PROFIT BEFORE TAX	59	161	-63.4%	-62.9%	83	77	41	16	28	31
CONSOLIDATED PROFIT	40	112	-64.3%	-63.8%	58	54	29	12	20	20
INCOME STATEMENT RATIOS
Cost income ratio	40.0%	35.5%	+4.5 p.p.		34.6%	36.4%	38.8%	39.0%	37.3%	43.4%
Cost of Risk (LLP annualised on Avg Loans) in basis points	180	41	139		27	55	83	118	215	144
VOLUMES
Customers Loans (excl. Repos and IC)	9,239	9,266	-0.3%		9,253	9,266	9,082	9,319	9,191	9,239
Customer Depos (excl. Repos and IC)	13,114	12,000	+9.3%		11,744	12,000	12,430	12,578	12,080	13,114
Total RWA	7,024	7,994	-12.1%		8,208	7,994	7,708	7,856	7,877	7,024
OTHER FIGURES
FTEs (100%)	3,807	3,813	-0.2%		3,772	3,813	3,797	3,752	3,779	3,807
ROAC	8.0%	24.8%	-16.8 p.p.		25.9%	23.8%	12.2%	3.6%	7.5%	8.6%

N.B. Managerial data presenting only geographical view of the Legal Entities operating in Croatia.

CEE - Romania

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	134	134	-0.1%	+1.5%	65	69	71	71	71	63
Dividends and other income from equity investments	0	0	-1.7%	-0.1%	0	0	0	0	0	0
Net fees and commissions	34	33	+1.9%	+3.5%	16	17	17	18	17	17
Net trading income	50	55	-9.8%	-8.4%	27	29	20	22	23	27
Net other expenses/income	0	1	-48.5%	-47.6%	0	0	1	0	0	0
OPERATING INCOME	218	224	-2.4%	-0.8%	109	115	110	112	111	107
Payroll costs	-45	-44	+3.4%	+5.0%	-22	-22	-22	-24	-23	-23
Other administrative expenses	-25	-26	-4.4%	-2.8%	-12	-14	-14	-15	-13	-12
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-14	-15	-9.1%	-7.7%	-7	-8	-8	-10	-7	-7
Operating costs	-84	-85	-1.2%	+0.3%	-41	-44	-44	-48	-43	-42
OPERATING PROFIT	134	138	-3.1%	-1.5%	68	70	66	64	68	66
Net write-downs of loans	-47	-34	+40.4%	+42.6%	-8	-25	-10	-30	-39	-8
NET OPERATING PROFIT	87	105	-17.0%	-15.7%	60	45	56	33	29	57
Other Charges & Provisions	-12	-12	-1.1%	+0.5%	-11	-2	-2	-20	-11	-1
o/w Systemic Charges	-10	-11	-1.9%	-0.3%	-11	0	0	-13	-10	0
o/w DGS	-1	-3	-64.7%	-64.2%	-3	0	0	0	-1	0
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	-13	0	0
o/w SRF	-10	-8	+26.7%	+28.7%	-8	0	0	0	-10	0
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	1	0	n.m.	n.m.	0	-1	0	2	1	0
PROFIT BEFORE TAX	75	92	-18.2%	-16.9%	49	43	54	15	19	57
CONSOLIDATED PROFIT	62	76	-17.9%	-16.6%	40	35	44	13	15	48
INCOME STATEMENT RATIOS
Cost income ratio	38.7%	38.2%	+0.4 p.p.		37.7%	38.7%	40.2%	43.0%	38.5%	38.8%
Cost of Risk (LLP annualised on Avg Loans) in basis points	154	114	41		55	172	64	198	252	55
VOLUMES
Customers Loans (excl. Repos and IC)	6,007	5,922	+1.4%		5,868	5,922	6,077	6,147	6,128	6,007
Customer Depos (excl. Repos and IC)	6,780	6,178	+9.7%		6,030	6,178	6,430	7,067	6,734	6,780
Total RWA	5,974	6,080	-1.7%		5,967	6,080	6,316	6,535	6,466	5,974
OTHER FIGURES
FTEs (100%)	3,427	3,294	+4.0%		3,282	3,294	3,326	3,377	3,367	3,427
ROAC	15.3%	20.0%	-4.8 p.p.		21.5%	18.6%	22.6%	6.3%	6.3%	24.6%

CEE - Bulgaria

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	132	141	-5.9%	-5.9%	70	71	71	70	68	65
Dividends and other income from equity investments	0	0	+50.0%	+50.0%	0	0	0	0	0	0
Net fees and commissions	56	65	-13.1%	-13.1%	32	33	32	34	29	27
Net trading income	25	40	-36.6%	-36.6%	20	20	13	18	15	10
Net other expenses/income	1	1	-29.8%	-29.8%	1	1	1	1	1	0
OPERATING INCOME	215	247	-12.9%	-12.9%	122	124	116	123	112	103
Payroll costs	-42	-40	+3.3%	+3.3%	-20	-20	-20	-20	-22	-20
Other administrative expenses	-28	-28	+1.1%	+1.1%	-13	-15	-13	-16	-15	-13
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-9	-8	+14.3%	+14.3%	-4	-4	-4	-6	-5	-5
Operating costs	-79	-76	+3.7%	+3.7%	-37	-39	-37	-41	-41	-38
OPERATING PROFIT	136	170	-20.2%	-20.2%	85	85	79	81	71	65
Net write-downs of loans	-55	-31	+77.2%	+77.2%	-16	-15	-16	-17	-25	-30
NET OPERATING PROFIT	81	140	-41.7%	-41.7%	69	70	63	65	46	35
Other Charges & Provisions	-37	-33	+10.7%	+10.7%	-35	1	0	-6	-39	2
o/w Systemic Charges	-37	-33	+10.6%	+10.6%	-35	2	0	0	-39	2
o/w DGS	-13	-11	+15.9%	+15.9%	-12	1	0	0	-13	0
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	-24	-22	+7.9%	+7.9%	-23	1	0	0	-26	2
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	0	2	-79.9%	-79.9%	1	1	0	-1	0	0
PROFIT BEFORE TAX	45	108	-58.6%	-58.6%	35	73	63	58	7	37
CONSOLIDATED PROFIT	40	97	-58.7%	-58.7%	31	65	56	52	7	33
INCOME STATEMENT RATIOS
Cost income ratio	36.8%	30.9%	+5.9 p.p.		30.6%	31.2%	32.1%	33.7%	36.9%	36.6%
Cost of Risk (LLP annualised on Avg Loans) in basis points	176	104	71		108	101	106	107	158	193
VOLUMES
Customers Loans (excl. Repos and IC)	6,108	6,042	+1.1%		5,883	6,042	6,091	6,227	6,257	6,108
Customer Depos (excl. Repos and IC)	9,245	8,254	+12.0%		8,339	8,254	8,645	9,047	8,930	9,245
Total RWA	5,488	6,028	-9.0%		5,825	6,028	5,997	6,228	6,394	5,488
OTHER FIGURES
FTEs (100%)	4,184	4,168	+0.4%		4,127	4,168	4,150	4,145	4,127	4,184
ROAC	9.4%	26.1%	-16.7 p.p.		16.9%	34.6%	29.3%	26.3%	2.2%	17.0%

CEE - Bosnia

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	51	54	-5.7%	-5.7%	27	27	27	27	26	25
Dividends and other income from equity investments	0	0	-100.0%	-100.0%	0	0	0	0	0	0
Net fees and commissions	22	23	-5.8%	-5.8%	11	12	12	9	11	11
Net trading income	3	4	-15.1%	-15.1%	2	2	2	2	2	2
Net other expenses/income	2	2	+9.4%	+9.4%	0	1	2	1	1	1
OPERATING INCOME	78	83	-6.0%	-6.0%	40	43	43	39	40	38
Payroll costs	-20	-19	+1.7%	+1.7%	-10	-10	-10	-10	-10	-10
Other administrative expenses	-13	-13	-1.5%	-1.5%	-7	-6	-7	-7	-7	-7
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-5	-4	+13.9%	+13.9%	-2	-2	-2	-2	-2	-3
Operating costs	-38	-37	+2.0%	+2.0%	-19	-18	-19	-19	-19	-19
OPERATING PROFIT	40	46	-12.4%	-12.4%	21	24	25	20	21	19
Net write-downs of loans	-9	-1	n.m.	n.m.	-1	0	-4	-2	-7	-1
NET OPERATING PROFIT	31	44	-29.0%	-29.0%	20	24	21	18	14	17
Other Charges & Provisions	-4	-3	+12.1%	+12.1%	-2	-2	-2	-2	-2	-2
o/w Systemic Charges	-4	-3	+11.9%	+11.9%	-2	-2	-2	-2	-2	-2
o/w DGS	-4	-3	+11.9%	+11.9%	-2	-2	-2	-2	-2	-2
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	0	0	n.m.	n.m.	0	0	0	0	0	0
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	0	0	+94.2%	+94.2%	0	0	0	-1	0	0
PROFIT BEFORE TAX	27	41	-33.1%	-33.1%	18	22	19	15	12	15
CONSOLIDATED PROFIT	21	31	-33.5%	-33.5%	14	17	15	12	9	12
INCOME STATEMENT RATIOS
Cost income ratio	48.6%	44.8%	+3.8 p.p.		46.6%	43.2%	43.1%	49.2%	47.2%	50.1%
Cost of Risk (LLP annualised on Avg Loans) in basis points	75	12	63		26	-2	63	31	122	26
VOLUMES
Customers Loans (excl. Repos and IC)	2,188	2,301	-4.9%		2,249	2,301	2,285	2,349	2,291	2,188
Customer Depos (excl. Repos and IC)	2,986	2,822	+5.8%		2,788	2,822	2,966	3,109	2,991	2,986
Total RWA	2,603	2,862	-9.0%		2,787	2,862	2,876	2,960	2,771	2,603
OTHER FIGURES
FTEs (100%)	1,615	1,625	-0.7%		1,628	1,625	1,623	1,626	1,627	1,615
ROAC	11.0%	19.1%	-8.1 p.p.		17.3%	20.9%	18.3%	14.5%	9.9%	12.2%

CEE - Serbia

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	at const. FX	2019	2019	2019	2019	2020	2020
Net interest	56	59	-5.3%	-5.7%	29	30	31	28	30	26
Dividends and other income from equity investments	0	0	n.m.	n.m.	0	0	0	0	0	0
Net fees and commissions	14	16	-12.1%	-12.5%	7	9	8	10	7	7
Net trading income	13	8	+60.3%	+59.7%	5	4	4	6	5	8
Net other expenses/income	0	0	n.m.	n.m.	0	0	0	0	0	0
OPERATING INCOME	83	84	-0.5%	-0.9%	41	43	44	43	42	42
Payroll costs	-17	-16	+5.0%	+4.6%	-8	-8	-8	-8	-8	-8
Other administrative expenses	-11	-11	-2.6%	-3.0%	-6	-6	-6	-6	-6	-6
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-5	-4	+10.1%	+9.6%	-2	-2	-2	-3	-2	-2
Operating costs	-33	-32	+3.0%	+2.5%	-16	-16	-17	-16	-16	-17
OPERATING PROFIT	51	52	-2.7%	-3.1%	25	27	27	27	26	25
Net write-downs of loans	-10	-7	+43.0%	+42.5%	-1	-6	-4	-6	-8	-2
NET OPERATING PROFIT	41	45	-9.7%	-10.1%	24	21	23	21	17	23
Other Charges & Provisions	-3	-4	-25.0%	-25.3%	-5	1	-3	-5	-2	-2
o/w Systemic Charges	-2	-4	-53.9%	-54.1%	-2	-2	-2	-2	-1	-1
o/w DGS	-2	-4	-53.9%	-54.1%	-2	-2	-2	-2	-1	-1
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	0	0	n.m.	n.m.	0	0	0	0	0	0
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	1	-2	n.m.	n.m.	0	-2	0	2	1	0
PROFIT BEFORE TAX	38	39	-2.8%	-3.2%	19	20	21	18	17	21
CONSOLIDATED PROFIT	34	35	-4.3%	-4.7%	17	18	19	17	15	19
INCOME STATEMENT RATIOS
Cost income ratio	39.4%	38.0%	+1.3 p.p.		38.5%	37.6%	37.9%	37.4%	39.0%	39.7%
Cost of Risk (LLP annualised on Avg Loans) in basis points	81	61	20		17	104	73	108	133	29
VOLUMES
Customers Loans (excl. Repos and IC)	2,503	2,305	+8.6%		2,290	2,305	2,372	2,365	2,493	2,503
Customer Depos (excl. Repos and IC)	2,534	2,128	+19.1%		2,025	2,128	2,233	2,151	2,267	2,534
Total RWA	2,685	3,537	-24.1%		3,447	3,537	3,623	3,563	2,723	2,685
OTHER FIGURES
FTEs (100%)	1,232	1,206	+2.2%		1,191	1,206	1,214	1,230	1,233	1,232
ROAC	13.9%	15.1%	-1.2 p.p.		15.2%	14.9%	15.6%	14.1%	12.6%	15.4%

INCOME STATEMENT 1H y/y 1Q 2Q 3Q 4Q 1Q 2Q Non Core

(mln Euro)	2020	2019	%	2019	2019	2019	2019	2020	2020
Net interest	-15	8	n.m.	3	5	-9	-10	-6	-9
Dividends and other income from equity investments	0	0	n.m.	0	0	0	0	0	0
Net fees and commissions	3	6	-45.0%	3	3	3	2	2	2
Net trading income	-12	-8	+50.4%	-2	-6	2	-14	-3	-9
Net other expenses/income	-3	-12	-71.3%	-5	-7	-2	-7	-1	-3
OPERATING INCOME	-27	-6	n.m.	-1	-5	-6	-30	-8	-19
Payroll costs	-13	-17	-22.2%	-9	-7	-7	-7	-7	-6
Other administrative expenses	-55	-99	-44.3%	-49	-50	-51	-46	-27	-28
Recovery of expenses	6	32	-80.5%	16	16	12	7	4	3
Amortisation & depreciation	0	0	n.m.	0	0	0	0	0	0
Operating costs	-62	-84	-26.0%	-43	-42	-46	-46	-31	-32
OPERATING PROFIT	-89	-90	-1.2%	-44	-47	-52	-76	-39	-50
Net write-downs of loans	89	-297	n.m.	-103	-194	-147	-1,188	77	12
NET OPERATING PROFIT	-1	-387	-99.9%	-147	-240	-199	-1,264	38	-39
Other Charges & Provisions	3	-104	n.m.	-93	-11	-13	-41	6	-3
o/w Systemic Charges	-15	-15	+2.2%	-15	-1	-1	-1	-13	-3
o/w DGS	0	0	n.m.	0	0	0	0	0	0
o/w Bank levies	-1	-2	-32.2%	-1	-1	-1	-1	-1	-1
o/w SRF	-14	-13	+7.2%	-14	0	0	0	-12	-2
Integration costs	-14	0	n.m.	0	0	0	-8	-14	0
Net income from investments	-120	-27	n.m.	0	-27	-40	-185	-24	-96
PROFIT BEFORE TAX	-132	-518	-74.5%	-239	-279	-251	-1,497	6	-138
CONSOLIDATED PROFIT	-82	-399	-79.4%	-188	-211	-180	-1,104	-2	-80
INCOME STATEMENT RATIOS
Cost income ratio	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.
Cost of Risk (LLP annualised on Avg Loans) in basis points	n.m.	987	n.m.	652	n.m.	n.m.	n.m.	n.m.	-282
VOLUMES
Customers Loans (excl. Repos and IC)	1,626	5,333	-69.5%	6,069	5,333	3,837	1,886	1,746	1,626
Customer Depos (excl. Repos and IC)	440	546	-19.4%	482	546	471	488	515	440
Total RWA	9,187	15,240	-39.7%	11,695	15,240	13,641	10,966	9,633	9,187
OTHER FIGURES
FTEs (100%)	280	326	-14.0%	325	326	319	295	291	280

ROAC n.m. n.m. n.m. n.m. n.m. n.m. n.m. n.m. n.m.

Fees - Details Group
		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2019	%	2019	2019	2019	2019	2020	2020
GROUP
Investment fees	1,108	1,131	-2.0%	545	585	586	635	620	487
Financing fees	840	848	-1.0%	443	405	409	429	438	402
Transactional fees	1,053	1,127	-6.6%	553	574	574	565	562	491
TOTAL NET COMMISSIONS	3,001	3,106	-3.4%	1,541	1,565	1,569	1,629	1,620	1,380

N. of Branches

ACTUAL FIGURES

	1Q 2019	2Q 2019	3Q 2019	4Q 2019	1Q 2020	2Q 2020
Western Europe	2,908	2,884	2,868	2,846	2,787	2,787
Italy	2,446	2,425	2,409	2,387	2,328	2,328
Germany	339	337	337	337	337	337
Austria	123	122	122	122	122	122
CEE	875	875	871	871	863	852
Russia	88	88	88	88	88	87
Czech Republic & Slovakia	123	123	123	123	119	114
Hungary	55	55	55	55	55	55
Slovenia	24	24	24	24	21	21
Croatia	116	116	114	114	114	114
Romania	135	135	134	134	134	134
Bulgaria	151	151	151	151	150	145
Bosnia	111	111	110	110	110	110
Serbia	72	72	72	72	72	72
Total Group	3,783	3,759	3,739	3,717	3,650	3,639

* Retail Branches only; for Western Europe excluding minor premises, Corporate and Private Banking.