Unicredit — Earnings Release 2024

Feb 11, 2025

4 st quarter - FY 2024 results

Consolidated Accounts

Consolidated Income Statements	3
Consolidated Balance Sheet	4
Group Shareholder's Equity & Tangible Equity	5
Group Shares	6
Asset Quality Group	7
Asset Quality by Division	8
Capital Position	9

Contribution of Divisions to Group Results

Division Italy	10
Division Germany	11
Div. Central Europe	12
Div. Eastern Europe	13
Central Europe / Eastern Europe Countries	14 - 22
Russia	23
GCC	24
EE & CE Excl Austria	25
Group Fees	26
Branches	27

						2023		2024
	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Consolidated Income Statement, m
Net interest	14,358	14,005	+2.5%	3,298	3,497	3,600	3,610	3,578	3,565	3,564	3,652
Dividends	470	459	+2.4%	124	129	113	93	108	118	151	93
Fees	8,139	7,565	+7.6%	2,033	1,928	1,790	1,814	2,100	2,120	1,943	1,975
Trading income	1,739	1,743	-0.2%	463	462	478	339	558	470	441	270
Other expenses/income	139	54	n.m.	11	-48	-14	105	27	56	43	13
Revenue	24,844	23,826	+4.3%	5,930	5,967	5,967	5,962	6,371	6,328	6,142	6,002
HR Cost	-5,853	-5,861	-0.1%	-1,422	-1,426	-1,437	-1,576	-1,429	-1,424	-1,427	-1,572
Non HR Cost	-2,596	-2,603	-0.3%	-631	-641	-637	-695	-632	-649	-622	-694
Recovery of expenses	106	81	+29.7%	16	16	20	30	23	36	19	28
Amortisation & depreciation	-1,062	-1,078	-1.5%	-284	-286	-270	-237	-268	-260	-261	-272
Operating costs	-9,405	-9,460	-0.6%	-2,322	-2,337	-2,324	-2,478	-2,306	-2,298	-2,292	-2,510
Gross Operating Profit	15,439	14,366	+7.5%	3,608	3,630	3,643	3,484	4,065	4,031	3,851	3,492
Loan Loss Provisions (LLPs)	-641	-560	+14.4%	-98	-12	-139	-311	-103	-15	-165	-357
Net Operating Profit	14,798	13,806	+7.2%	3,510	3,619	3,505	3,173	3,962	4,016	3,686	3,135
Other Charges & Provisions	-1,069	-1,023	+4.4%	-745	-92	-285	99	-346	-228	-109	-385
o/w Systemic Charges	-515	-955	-46.1%	-640	-48	-232	-35	-360	-45	-70	-40
o/w DGS	-254	-272	-6.4%	-63	-9	-195	-4	-229	-14	-10	-2
o/w Bank levies	-233	-227	+2.5%	-102	-57	-37	-31	-106	-33	-60	-33
o/w SRF	-23	-456	-95.0%	-475	18	0	0	-25	3	0	0
Integration costs	-841	-1,060	-20.7%	-17	-214	-41	-788	-18	-35	-34	-753
Net income from investments	-29	-272	-89.4%	-17	-109	-11	-134	1	-24	-19	13
Profit (loss) Before Tax	12,860	11,451	+12.3%	2,731	3,204	3,168	2,349	3,599	3,728	3,523	2,010
Income taxes	-3,085	-1,914	+61.2%	-661	-883	-837	468	-1,033	-1,043	-1,003	-7
Net profit (loss) of disc. operat.	0	0	n.m.	0	0	0	0	0	0	0	0
Net Profit (loss) for the period	9,775	9,537	+2.5%	2,070	2,320	2,331	2,817	2,566	2,685	2,520	2,003
Minorities Net profit attributable to the Group before PPA	-55 9,719	-27 9,510	n.m. +2.2%	-6 2,064	-6 2,314	-9 2,322	-6 2,810	-8 2,558	-7 2,679	-7 2,513	-34 1,969
Purchase Price Allocation (PPA)	0	-4	-100.0%	0	-4	0	0	0	0	0	0
Goodwill impairment	0	0	n.m.	0	0	0	0	0	0	0	0
Stated Net Profit*	9,719	9,507	+2.2%	2,064	2,310	2,322	2,810	2,558	2,679	2,513	1,969
DTAs from tax loss carry forward sustainability test**	-405	-893	-54.6%	0	0	0	-893	0	0	0	-405
Net Profit***	9,314	8,614	+8.1%	2,064	2,310	2,322	1,917	2,558	2,679	2,513	1,564
Cashes Coupons	-247	-175	+41.2%	0	-51	-60	-64	-63	-63	-62	-59
AT1 Coupons	-196	-250	-21.5%	0	-140	0	-110	0	-110	0	-86
Net Profit after AT1 / Cashes****	8,871	8,189	+8.3%	2,064	2,119	2,263	1,744	2,495	2,506	2,452	1,419
Income Statement Ratios
Cost income ratio, %	37.9%	39.7%	-1.8 p.p.	39.2%	39.2%	38.9%	41.6%	36.2%	36.3%	37.3%	41.8%
Cost of Risk, bps	15	13	2	9	1	12	29	10	1	15	34
Tax rate, %	24.0%	16.7%	+7.3 p.p.	24.2%	27.6%	26.4%	n.m.	28.7%	28.0%	28.5%	0.3%
Volumes, bn
Customers Loans (excl. Repos)	404.3	409.5	-1.3%	430.2	423.3	416.2	409.5	407.8	406.6	403.3	404.3
Customer Depos (excl. Repos)	475.9	474.4	+0.3%	479.8	472.4	469.2	474.4	466.7	464.4	457.7	475.9
o/w Sight Deposits	346.2	348.7	-0.7%	361.4	352.4	343.2	348.7	332.4	334.7	328.9	346.2
o/w non Sight Deposits	129.7	125.7	+3.2%	118.3	120.0	126.0	125.7	134.3	129.7	128.7	129.7
Retail1	265.4	269.6	-1.5%	272.6	270.9	269.0	269.6	264.3	263.2	260.2	265.4

Cost income ratio, % Cost of Risk, bps Tax rate, %	37.9% 15 24.0%	39.7% 13 16.7%	-1.8 p.p. 2 +7.3 p.p.	39.2% 9 24.2%	39.2% 1 27.6%	38.9% 12 26.4%	41.6% 29 n.m.	36.2% 10 28.7%	36.3% 1 28.0%	37.3% 15 28.5%	41.8% 34 0.3%
Volumes, bn
Customers Loans (excl. Repos)	404.3	409.5	-1.3%	430.2	423.3	416.2	409.5	407.8	406.6	403.3	404.3
Customer Depos (excl. Repos)	475.9	474.4	+0.3%	479.8	472.4	469.2	474.4	466.7	464.4	457.7	475.9
o/w Sight Deposits	346.2	348.7	-0.7%	361.4	352.4	343.2	348.7	332.4	334.7	328.9	346.2
o/w non Sight Deposits	129.7	125.7	+3.2%	118.3	120.0	126.0	125.7	134.3	129.7	128.7	129.7
Retail1	265.4	269.6	-1.5%	272.6	270.9	269.0	269.6	264.3	263.2	260.2	265.4
Corporate2	193.8	191.1	+1.4%	188.2	184.4	184.0	191.1	186.4	185.6	184.0	193.8
Central Functions3	16.7	13.7	+22.2%	19.0	17.0	16.2	13.7	15.9	15.6	13.4	16.7
Total Financial Asset4	815.9	781.3	+4.4%	750.5	759.0	756.9	781.3	796.2	799.5	807.9	815.9
o/w AuM5 + AuA	165.0	143.6	+14.9%	138.1	140.0	139.0	143.6	151.7	155.3	162.7	165.0
o/w AuC	200.7	186.9	+7.4%	164.7	172.2	170.2	186.9	198.5	198.5	204.4	200.7
o/w Insurance6	58.1	56.9	+2.1%	57.3	57.1	56.2	56.9	57.6	58.1	58.1	58.1
Total RWA	277	285	-2.6%	299	295	290	285	280	277	278	277
Other Figures, units / %
FTEs (100%)	69,722	70,752	-1.5%	74,322	73,108	72,101	70,752	70,159	69,454	69,184	69,722
RoTE7	17.7%	16.6%	+1.1 p.p.	16.8%	17.2%	18.3%	13.9%	19.5%	19.8%	19.7%	11.5%

(*) Stated Net profit: means accounting net profit | (**) Reversal of the impact booked in the Income Tax line where applicable | (***) Net Profit means Stated net profit adjusted for impacts from DTAs tax loss carry forward resulting from sustainability test | (****) Net Profit after AT1/Cashes: means Net Profit as defined above adjusted for impacts from AT1 and Cashes Coupons. The result is used for cash dividend accrual and Total distribution, as well as RoTE and RoAC calculation (1) Retail: includes Individuals (mass market, affluent, Private and Wealth) and micro-business

(2) Corporate: includes SME, Large and most of Financial Institutions

(7) RoTE means (i) net profit after AT1/Cashes coupons [as defined above] over (ii) average tangible equity excluding AT1, Cashes & DTA from tax loss carry forward contribution

(6) Life products

(3) Central Functions: includes relationships with counterparties classified Accounting wise as "Customers" held by Treasury or by Corporate Centres for liquidity management purpose

(4) Refers to Group commercial Total Financial Assets. Non-commercial elements, i.e. Large Corporates and Central Functions are excluded. Numbers are managerial figures

(5) Includes Funds and Segregated accounts

Communities	Empowering					2023		2024
to Progress.	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Balance Sheet, bn
Assets
Cash and cash balances	41.4	61.0	-32.1%	126.4	76.1	87.4	61.0	65.4	50.0	38.4	41.4
Financial assets held for trading	55.1	57.3	-3.8%	62.3	66.9	62.9	57.3	55.5	55.7	58.3	55.1
Loans to banks	50.7	39.4	+28.5%	71.9	66.9	54.3	39.4	53.2	54.4	61.2	50.7
Loans to customers	418.4	429.5	-2.6%	453.8	450.8	436.5	429.5	434.8	434.0	430.9	418.4
Other financial assets	183.1	163.0	+12.4%	148.2	150.5	152.8	163.0	167.1	171.6	180.6	183.1
Hedging instruments	-0.4	-1.3	-73.8%	-3.7	-3.3	-3.7	-1.3	-1.4	-2.4	-0.9	-0.4
Property, plant and equipment	8.8	8.6	+1.9%	9.1	8.9	8.8	8.6	9.2	9.0	8.8	8.8
Goodwill	0.0	0.0	-	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other intangible assets	2.2	2.3	-3.6%	2.3	2.3	2.2	2.3	2.2	2.2	2.2	2.2
Tax assets	10.3	11.8	-13.1%	12.6	12.0	11.3	11.8	11.1	10.5	9.9	10.3
Non-current assets and disposal groups classified as held for sale	0.4	0.4	+6.6%	1.1	1.4	1.2	0.4	0.4	0.6	0.5	0.4
Other assets	14.0	13.1	+6.5%	11.4	11.0	11.8	13.1	13.1	13.3	13.6	14.0
Total assets	784.0	785.0	-0.1%	895.3	843.5	825.6	785.0	810.6	798.9	803.5	784.0
Liabilities and shareholders' equity
Deposits from banks	67.9	71.0	-4.4%	148.9	97.8	96.9	71.0	87.1	82.9	87.0	67.9
Deposits from customers	499.5	495.7	+0.8%	522.5	514.1	510.6	495.7	502.1	499.5	493.5	499.5
Debt securities issued	90.7	89.8	+1.0%	89.0	93.0	92.6	89.8	90.9	91.7	90.1	90.7
Financial liabilities held for trading	31.3	38.0	-17.6%	50.1	50.8	44.2	38.0	38.3	36.9	36.2	31.3
Other financial liabilities	15.2	13.8	+10.7%	12.7	13.0	13.0	13.8	14.3	15.0	15.5	15.2
Hedging instruments	-8.1	-10.6	-23.1%	-17.2	-17.3	-17.3	-10.6	-11.8	-13.1	-8.7	-8.1
Tax liabilities	1.7	1.5	+15.2%	1.8	1.8	1.7	1.5	1.7	1.8	2.0	1.7
Liabilities included in disposal groups classified as held for sale	0.0	0.0	n.m.	0.5	0.5	0.5	0.0	0.0	0.0	0.0	0.0
Other liabilities	22.9	21.4	+6.8%	23.3	27.9	20.6	21.4	22.2	22.1	24.1	22.9
Minorities	0.4	0.2	n.m.	0.2	0.1	0.2	0.2	0.2	0.2	0.2	0.4
Group Shareholders' Equity:	62.4	64.1	-2.6%	63.6	61.9	62.7	64.1	65.4	62.0	63.7	62.4
- Capital and reserves	52.7	54.6	-3.4%	61.6	57.5	56.0	54.6	62.9	56.8	55.9	52.7
- Stated Net profit (loss)	9.7	9.5	+2.2%	2.1	4.4	6.7	9.5	2.6	5.2	7.7	9.7
Total liabilities and shareholders' equity	784.0	785.0	-0.1%	895.3	843.5	825.6	785.0	810.6	798.9	803.5	784.0

Shareholders' Equity attributable to the Group & Shares, m

Shareholders' equity as at 31 December 2023	64,079
Dividends and other allocations	-4,485
Equity instruments	-163
Share buyback	-5,871
Change in reserve related coupon on AT1 instruments	-196
Charges related to transaction denominated "Cashes"	-247
Changes in reserve for the unsustainable amount of Deferred Tax Assets relating to tax losses carried forward linked to shareholders' equity items	113
Change in the valuation reserve relating to the financial assets and liabilities at fair value	133
Change in the valuation reserve relating to cash flow hedges	100
Change in the valuation reserve relating to exchange differences	-570
Change in the valuation reserve relating to the actuarial gains/losses on defined benefit plans	-161
Other changes	-10
Profit (loss) for the year	9,719
Shareholders' equity as at 31 December 2024	62,441

Notes:

The change in equity instruments is comprehensive of refunds for -€898 million (gross of transaction costs for -€10 million and including

exchange differences for €-248 million) and new issuings for +€993 million.

The change in the valuation reserve relating to exchange differences is mainly due to the impact of Russian Ruble for -€458 million,

Hungarian Forint for -€87 million and Czech Crown for -€63 million.

				2023			2024
	FY24	FY23	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Tangible Equity, EoP & AVG , m
Shareholders' Equity	62,441	64,079	63,641	61,881	62,726	64,079	65,420	62,013	63,691	62,441
Goodwill	38	0	0	0	0	0	0	0	0	38
Intangible	2,191	2,272	2,300	2,255	2,230	2,272	2,210	2,194	2,157	2,191
HFS intangible	0	0	5	5	5	0	0	0	0	0
AT1	4,958	4,863	6,100	4,863	4,863	4,863	4,863	3,965	4,958	4,958
Tangible Equity	55,254	56,944	55,237	54,758	55,628	56,944	58,347	55,854	56,576	55,254
Cashes EOP	2,983	2,983	2,983	2,983	2,983	2,983	2,983	2,983	2,983	2,983
TLCF EOP	3,874	3,631	2,846	2,817	2,822	3,631	3,577	3,582	3,415	3,874
Tangible Equity (for RoTE calculation purposes only), EOP	48,397	50,330	49,407	48,958	49,823	50,330	51,788	49,289	50,178	48,397
Tangible Equity (for RoTE calculation purposes only), AVG	50,155	49,465	49,212	49,183	49,391	50,077	51,059	50,538	49,733	49,288

Group Shares

	2023
	3M	1H	9M	FY	3M	2024 1H	9M	FY
Average & EoP YtD number of outstanding and diluted shares
EoP number of Ordinary Shares	1,940,777,908	1,940,777,908	1,784,663,080	1,784,663,080	1,681,835,671	1,636,976,500	1,636,976,500	1,551,419,850
(-) Treasury shares (including buyback)	0	-125,082,173	-14,059,665	-72,239,501	0	-6,574,254	-54,635,845	0
(-) Shares held under the CASHES usufruct contract	-9,675,640	-9,675,640	-9,675,640	-9,675,640	-9,675,640	-9,675,640	-9,675,640	-9,675,640
EoP number of outstanding shares	1,931,102,268	1,806,020,095	1,760,927,775	1,702,747,939	1,672,160,031	1,620,726,606	1,572,665,015	1,541,744,210
(+) Potentially dilutive shares	16,342,537	20,682,539	21,616,129	22,862,240	16,064,911	16,489,784	16,701,996	16,835,472
EoP number of diluted shares	1,947,444,805	1,826,702,634	1,782,543,904	1,725,610,179	1,688,224,942	1,637,216,390	1,589,367,011	1,558,579,682
Average number of outstanding shares*	1,927,797,368	1,894,003,558	1,858,509,383	1,827,892,681	1,684,627,440	1,671,270,715	1,645,740,490	1,621,646,008
Average number of diluted shares*	1,944,024,751	1,913,357,813	1,879,076,744	1,849,772,582	1,700,692,350	1,687,760,499	1,662,442,486	1,638,481,480

Net of the average number of treasury shares, considering the shares buyback made during the 2024 and totally cancelled at the end of period, and of further average No.9,675,640 shares held under a contract of usufruct.

LOANS TO CUSTOMERS

					2024
Asset Quality - Group, m	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Gross Bad Loans	3,077	2,894	6.3%	2,675	2,852	2,925	2,894	3,305	3,398	3,213	3,077
Writedowns	2,133	2,141	-0.4%	2,034	2,126	2,143	2,141	2,187	2,218	2,200	2,133
Coverage Ratio	69.3%	74.0%	-4.6 p.p.	76.0%	74.6%	73.3%	74.0%	66.2%	65.3%	68.5%	69.3%
Net Bad Loans	944	753	25.3%	641	725	783	753	1,119	1,181	1,013	944
Gross Unlikely to pay	7,275	7,842	-7.2%	9,092	8,487	8,254	7,842	8,028	7,509	7,796	7,275
Writedowns	2,724	3,110	-12.4%	3,838	3,454	3,389	3,110	3,063	3,035	3,070	2,724
Coverage Ratio	37.4%	39.7%	-2.2 p.p.	42.2%	40.7%	41.1%	39.7%	38.2%	40.4%	39.4%	37.4%
Net Unlikely to pay	4,552	4,731	-3.8%	5,254	5,034	4,866	4,731	4,965	4,474	4,726	4,552
Gross Past-due loans	806	958	-15.9%	835	772	797	958	760	773	770	806
Writedowns	262	272	-3.7%	238	227	232	272	257	260	265	262
Coverage Ratio	32.5%	28.4%	+4.1 p.p.	28.5%	29.4%	29.2%	28.4%	33.8%	33.7%	34.4%	32.5%
Net Past-due loans	544	686	-20.7%	598	545	564	686	504	513	505	544
Gross Non Performing Exposures	11,158	11,693	-4.6%	12,602	12,111	11,976	11,693	12,094	11,681	11,779	11,158
Writedowns	5,118	5,523	-7.3%	6,109	5,806	5,764	5,523	5,507	5,513	5,535	5,118
Coverage Ratio	45.9%	47.2%	-1.4 p.p.	48.5%	47.9%	48.1%	47.2%	45.5%	47.2%	47.0%	45.9%
Net Non Performing Exposures	6,040	6,171	-2.1%	6,493	6,304	6,212	6,171	6,587	6,168	6,244	6,040
Gross Performing loans	416,387	427,955	-2.7%	452,749	449,770	435,512	427,955	432,759	432,185	428,909	416,387
Writedowns	4,049	4,673	-13.4%	5,488	5,228	5,213	4,673	4,512	4,356	4,213	4,049
Coverage Ratio	1.0%	1.1%	-0.1 p.p.	1.2%	1.2%	1.2%	1.1%	1.0%	1.0%	1.0%	1.0%
Net Performing Loans	412,339	423,282	-2.6%	447,261	444,542	430,299	423,282	428,247	427,829	424,696	412,339
					2023					2024
Asset Quality - Ratios (%)	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q

					2023			2024
Asset Quality - Ratios (%)	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Gross Bad Loans ratio	0.7%	0.7%	+0.1 p.p.	0.6%	0.6%	0.7%	0.7%	0.7%	0.8%	0.7%	0.7%
Net Bad Loans ratio	0.2%	0.2%	+0.1 p.p.	0.1%	0.2%	0.2%	0.2%	0.3%	0.3%	0.2%	0.2%
Gross Unlikely to pay ratio	1.7%	1.8%	-0.1 p.p.	2.0%	1.8%	1.8%	1.8%	1.8%	1.7%	1.8%	1.7%
Net Unlikely to pay ratio	1.1%	1.1%	-0.0 p.p.	1.2%	1.1%	1.1%	1.1%	1.1%	1.0%	1.1%	1.1%
Gross Past-due loans ratio	0.2%	0.2%	-0.0 p.p.	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%
Net Past-due loans ratio	0.1%	0.2%	-0.0 p.p.	0.1%	0.1%	0.1%	0.2%	0.1%	0.1%	0.1%	0.1%
Gross NPE Ratio	2.6%	2.7%	-0.1 p.p.	2.7%	2.6%	2.7%	2.7%	2.7%	2.6%	2.7%	2.6%
Net NPE Ratio	1.4%	1.4%	+0.0 p.p.	1.4%	1.4%	1.4%	1.4%	1.5%	1.4%	1.4%	1.4%

LOANS TO CUSTOMERS

				2023				2024
Asset Quality - by Division, m	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Italy
Gross Non Performing Exposures	4,270	4,571	-6.6%	4,928	4,633	4,709	4,571	4,958	4,927	4,783	4,270
Net Non Performing Exposures	2,319	2,338	-0.8%	2,658	2,536	2,558	2,338	2,620	2,663	2,489	2,319
NPE Coverage Ratio	45.70%	48.86%	-3.2 p.p.	46.05%	45.27%	45.68%	48.86%	47.17%	45.95%	47.95%	45.70%
Gross Customer Loans	160,600	175,228	-8.3%	191,886	192,595	177,833	175,228	178,947	177,023	172,874	160,600
Net Customer Loans	156,897	171,085	-8.3%	187,312	188,393	173,602	171,085	174,785	172,930	168,761	156,897
Gross NPE Ratio	2.66%	2.61%	+0.1 p.p.	2.57%	2.41%	2.65%	2.61%	2.77%	2.78%	2.77%	2.66%
Net NPE Ratio	1.48%	1.37%	+0.1 p.p.	1.42%	1.35%	1.47%	1.37%	1.50%	1.54%	1.48%	1.48%
Germany
Gross Non Performing Exposures	2,844	2,649	7.3%	2,601	2,669	2,638	2,649	2,769	2,665	3,197	2,844
Net Non Performing Exposures	1,852	1,737	6.6%	1,731	1,755	1,713	1,737	1,875	1,639	2,049	1,852
NPE Coverage Ratio	34.89%	34.43%	+0.5 p.p.	33.43%	34.23%	35.09%	34.43%	32.28%	38.50%	35.88%	34.89%
Gross Customer Loans	129,021	127,776	1.0%	133,472	129,781	130,662	127,776	130,680	130,966	132,029	129,021
Net Customer Loans	127,525	126,147	1.1%	131,787	128,090	128,950	126,147	129,060	129,342	130,377	127,525
Gross NPE Ratio	2.20%	2.07%	+0.1 p.p.	1.95%	2.06%	2.02%	2.07%	2.12%	2.03%	2.42%	2.20%
Net NPE Ratio	1.45%	1.38%	+0.1 p.p.	1.31%	1.37%	1.33%	1.38%	1.45%	1.27%	1.57%	1.45%
Central Europe
Gross Non Performing Exposures	2,519	2,776	-9.3%	2,719	2,654	2,536	2,776	2,747	2,533	2,361	2,519
Net Non Performing Exposures	1,431	1,577	-9.2%	1,410	1,418	1,351	1,577	1,598	1,380	1,291	1,431
NPE Coverage Ratio	43.17%	43.20%	-0.0 p.p.	48.14%	46.58%	46.73%	43.20%	41.83%	45.54%	45.31%	43.17%
Gross Customer Loans	93,970	97,657	-3.8%	99,026	99,196	98,650	97,657	95,865	95,569	95,353	93,970
Net Customer Loans	92,026	95,491	-3.6%	96,871	97,117	96,596	95,491	93,802	93,477	93,338	92,026
Gross NPE Ratio	2.68%	2.84%	-0.2 p.p.	2.75%	2.68%	2.57%	2.84%	2.87%	2.65%	2.48%	2.68%
Net NPE Ratio	1.56%	1.65%	-0.1 p.p.	1.46%	1.46%	1.40%	1.65%	1.70%	1.48%	1.38%	1.56%
Eastern Europe
Gross Non Performing Exposures	1,215	1,212	0.3%	1,750	1,617	1,557	1,212	1,148	1,090	1,094	1,215
Net Non Performing Exposures	400	329	21.4%	468	404	376	329	301	290	305	400
NPE Coverage Ratio	67.09%	72.82%	-5.7 p.p.	73.25%	74.99%	75.85%	72.82%	73.76%	73.43%	72.15%	67.09%
Gross Customer Loans	42,247	35,292	19.7%	34,232	34,574	35,290	35,292	35,909	37,225	38,131	42,247
Net Customer Loans	40,615	33,571	21.0%	32,126	32,509	33,229	33,571	34,239	35,623	36,545	40,615
Gross NPE Ratio	2.88%	3.43%	-0.6 p.p.	5.11%	4.68%	4.41%	3.43%	3.20%	2.93%	2.87%	2.88%
Net NPE Ratio	0.98%	0.98%	+0.0 p.p.	1.46%	1.24%	1.13%	0.98%	0.88%	0.81%	0.83%	0.98%
Russia
Gross Non Performing Exposures	310	485	-36.0%	605	538	536	485	471	465	345	310
Net Non Performing Exposures	38	190	-80.0%	225	191	215	190	193	197	110	38
NPE Coverage Ratio	87.78%	60.93%	+26.9 p.p.	62.83%	64.50%	59.93%	60.93%	59.00%	57.74%	68.15%	87.78%
Gross Customer Loans	1,583	3,690	-57.1%	6,711	5,711	5,068	3,690	3,365	3,006	2,203	1,583
Net Customer Loans	1,192	3,152	-62.2%	5,633	4,713	4,149	3,152	2,862	2,547	1,820	1,192
Gross NPE Ratio	19.60%	13.15%	+6.5 p.p.	9.02%	9.41%	10.58%	13.15%	13.99%	15.47%	15.65%	19.60%
Net NPE Ratio	3.18%	6.01%	-2.8 p.p.	3.99%	4.05%	5.18%	6.01%	6.75%	7.72%	6.03%	3.18%

9

GROUP CAPITAL STRUCTURE Basel 3

		2023					2024
Capital Position ,bn	1Q	2Q	3Q	4Q*	1Q	2Q	3Q	4Q	q/q	y/y
Common Equity Tier I Fully Loaded	48.0	49.0	49.9	45.2	45.4	44.9	44.8	43.9	-2.0	-2.8
Common Equity Tier I Capital Transitional	48.9	49.9	50.8	45.9	45.7	45.2	45.1	44.2	-2.0	-3.7
Tier I Capital Transitional	55.0	54.8	55.6	50.8	50.6	49.1	50.1	49.2	-1.8	-3.1
Total Capital Transitional	63.8	63.6	64.5	59.5	59.4	57.9	57.4	56.6	-1.6	-4.9
Total RWA Transitional	298.8	294.8	290.1	284.5	279.6	276.9	277.8	277.1	-0.3	-2.6
Credit Risk	259.4	254.6	248.4	241.4	236.9	235.6	235.7	235.6	-0.0	-2.4
Market Risk	8.2	9.0	10.5	11.3	10.9	10.1	11.1	9.8	-11.5	-12.9
Operational Risk	31.1	31.2	31.2	31.8	31.8	31.2	31.0	31.6	+2.0	-0.5

		2023					2024
Capital Ratios	1Q	2Q	3Q	4Q*	1Q	2Q	3Q	4Q	q/q	y/y
Common Equity Tier I Capital Ratio Fully loaded	16.1%	16.6%	17.2%	15.9%	16.2%	16.2%	16.1%	15.9%	-27bp	-3bp
Common Equity Tier I Capital Ratio Transitional	16.4%	16.9%	17.5%	16.1%	16.4%	16.3%	16.2%	16.0%	-28bp	-18bp
Tier I Capital Ratio Transitional	18.4%	18.6%	19.2%	17.8%	18.1%	17.7%	18.0%	17.7%	-27bp	-9bp
Total Capital Ratio Transitional	21.4%	21.6%	22.2%	20.9%	21.2%	20.9%	20.7%	20.4%	-27bp	-49bp
MDA buffer Fully Loaded (CET1 ratio)**	6.6%	6.9%	7.5%	6.1%	6.0%	5.6%	5.9%	5.5%	-44bp	-64bp
MDA buffer Transitional (CET1 ratio)**	6.9%	7.2%	7.8%	6.4%	6.1%	5.7%	6.0%	5.6%	-45bp	-79bp

(*) Following the release of EBA Q&A #6887, from 4Q23, Shares Buy-Backs (SBB) are accrued over time and deducted from Own Funds, even if still subject to ECB and Shareholders approval (**) MDA buffer 4Q24 (including a gap of 9bps vs. the 1.88% AT1 bucket requirement) computed vs MDA requirement at 10.28% as of 4Q24.

Note:

• "Credit and Counterparty Risk RWA amount includes RWA equivalent to points 1 "Credit risk (excluding CCR)", 6 "Counterparty credit risk – CCR" net of point EU 8b "Of which credit valuation adjustment – CVA" and 16 "Securitisation exposures in the non-trading book (after the cap)" related to "Template EU OV1 – Overview of risk weighted exposure amounts" of Pillar III.

• Market Risk RWA amount includes RWA equivalent to points EU 8b "Of which credit valuation adjustment – CVA", 15 "Settlement risk" and 20 " Position, foreign exchange and commodities risks (Market risk) related to "Template EU OV1 – Overview of risk weighted exposure amounts" of Pillar III.

• Operational Risk RWA amount includes RWA equivalent to point 23 "Operational risk" of Pillar III "Template EU OV1 – Overview of risk weighted exposure amounts."

						2023				2024
Italy	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	6,668	6,373	+4.6%	1,469	1,602	1,639	1,663	1,661	1,655	1,649	1,703
Dividends	142	125	+13.0%	45	37	25	19	39	30	41	31
Fees	4,374	4,077	+7.3%	1,107	1,039	954	977	1,146	1,147	1,036	1,046
Trading income	129	382	-66.2%	95	139	85	64	67	29	38	-5
Other expenses/income	42	-53	n.m.	4	-29	-21	-7	1	42	23	-25
Revenue	11,354	10,904	+4.1%	2,720	2,787	2,683	2,715	2,914	2,903	2,788	2,750
HR Cost	-2,384	-2,353	+1.3%	-584	-580	-584	-604	-588	-589	-592	-615
Non HR Cost	-1,313	-1,324	-0.9%	-316	-333	-313	-362	-340	-343	-309	-320
Recovery of expenses	38	19	n.m.	2	5	4	7	8	12	9	9
Amortisation & depreciation	-256	-258	-0.8%	-77	-73	-72	-36	-65	-64	-64	-64
Operating costs	-3,914	-3,917	-0.1%	-975	-981	-965	-996	-985	-984	-955	-990
Gross Operating Profit	7,440	6,987	+6.5%	1,744	1,806	1,718	1,719	1,929	1,919	1,832	1,760
Loan Loss Provisions (LLPs)	-501	-403	+24.2%	-139	-86	-89	-89	-144	-102	-118	-137
Net Operating Profit	6,939	6,584	+5.4%	1,606	1,720	1,629	1,630	1,784	1,817	1,715	1,623
Other Charges & Provisions	-255	-471	-45.8%	-213	-23	-232	-3	-177	-14	-39	-26
o/w Systemic Charges	-259	-447	-42.1%	-196	-25	-210	-15	-194	-18	-21	-26
o/w DGS	-171	-174	-1.8%	0	0	-185	11	-174	3	0	0
o/w Bank levies	-82	-101	-19.1%	-26	-25	-25	-25	-20	-21	-21	-21
o/w SRF	0	-171	-100.0%	-170	0	0	0	0	0	0	0
Integration costs	-384	-354	+8.6%	-12	-98	-12	-231	-10	-11	-8	-354
Net income from investments	-127	-148	-14.1%	-29	-44	0	-74	-9	-15	-25	-78
Profit (loss) Before Tax	6,173	5,612	+10.0%	1,351	1,555	1,384	1,322	1,588	1,777	1,643	1,165
Stated Net Profit	4,762	4,868	-2.2%	961	1,018	945	1,944	1,089	1,201	1,161	1,310
Net Profit after AT1/Cashes*	4,192	3,811	+10.0%	961	944	922	984	1,066	1,136	1,139	851
Income Statement Ratios
Cost income ratio, %	34.5%	35.9%	-1.4 p.p.	35.9%	35.2%	36.0%	36.7%	33.8%	33.9%	34.3%	36.0%
Cost of Risk, bps	29	22	7	29	18	20	21	33	23	28	34
Volumes, bn
Customers Loans (excl. Repos and IC)	144.6	152.1	-5.0%	164.9	162.2	154.3	152.1	149.8	147.8	146.1	144.6
Customer Depos (excl. Repos and IC)	183.9	188.4	-2.4%	192.7	188.9	189.0	188.4	184.8	186.3	181.2	183.9
Total RWA	101.1	108.1	-6.5%	115.0	114.8	112.4	108.1	104.4	102.9	102.6	101.1
Other Figures, units / %
FTEs (100%) RoAC**	26,902 30.8%	27,528 25.4%	-2.3% +5.4 p.p.	28,533 24.9%	27,935 25.1%	27,726 24.7%	27,528 27.2%	27,358 30.6%	27,151 33.4%	27,109 33.8%	26,902 25.5%

Volumes, bn
Other Figures, units / %

						2023				2024
Germany	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	2,594	2,689	-3.5%	691	694	637	666	627	619	682	666
Dividends	3	3	-0.9%	1	0	0	2	1	0	1	1
Fees	1,574	1,527	+3.0%	452	400	350	325	436	411	375	352
Trading income	1,197	1,164	+2.9%	345	292	313	213	384	349	286	178
Other expenses/income	95	34	n.m.	14	3	17	1	19	20	17	39
Revenue	5,462	5,417	+0.8%	1,503	1,389	1,318	1,207	1,466	1,399	1,361	1,235
HR Cost	-1,226	-1,341	-8.5%	-336	-332	-331	-341	-310	-303	-298	-316
Non HR Cost	-926	-971	-4.6%	-244	-241	-243	-243	-237	-239	-229	-222
Recovery of expenses	8	7	+14.3%	1	0	2	4	1	0	1	6
Amortisation & depreciation	-75	-95	-21.2%	-26	-23	-23	-23	-19	-17	-18	-21
Operating costs	-2,220	-2,400	-7.5%	-606	-596	-595	-603	-565	-558	-544	-553
Gross Operating Profit	3,242	3,017	+7.5%	897	793	723	604	902	841	817	683
Loan Loss Provisions (LLPs)	-273	-183	+49.3%	-34	-23	-82	-43	-66	-68	-52	-86
Net Operating Profit	2,969	2,835	+4.8%	863	770	641	560	835	773	765	597
Other Charges & Provisions	-9	-192	-95.1%	-185	-31	29	-5	-8	1	4	-7
o/w Systemic Charges	-28	-211	-86.5%	-188	-10	-5	-8	-11	-12	-4	-1
o/w DGS	-28	-32	-11.4%	-9	-9	-5	-8	-11	-12	-4	-1
o/w Bank levies	0	0	n.m.	0	0	0	0	0	0	0	0
o/w SRF	0	-179	-100.0%	-179	0	0	0	0	0	0	0
Integration costs	-140	-335	-58.3%	-4	-55	-9	-267	-4	-9	-7	-120
Net income from investments	-33	-188	-82.3%	-5	-19	-15	-150	1	-23	-3	-8
Profit (loss) Before Tax	2,787	2,119	+31.5%	669	665	646	139	825	742	758	461
Stated Net Profit	1,918	1,718	+11.6%	512	503	415	288	560	503	515	341
Net Profit after AT1/Cashes*	1,811	1,610	+12.5%	512	453	400	244	544	460	500	306
Income Statement Ratios
Cost income ratio	40.6%	44.3%	-3.7 p.p.	40.3%	42.9%	45.2%	50.0%	38.5%	39.9%	40.0%	44.7%
Cost of Risk (LLP annualised on Avg Loans) in basis points	21	14	7	10	7	25	14	21	21	16	27
Volumes, bn
Customers Loans (excl. Repos and IC)	125.8	125.1	+0.5%	130.6	126.7	127.9	125.1	127.0	127.0	125.4	125.8
Customer Depos (excl. Repos and IC)	138.3	138.2	+0.1%	138.8	139.0	135.5	138.2	135.1	130.2	130.1	138.3
Total RWA	65.0	69.5	-6.5%	77.4	74.3	71.2	69.5	68.6	67.6	64.3	65.0
Other Figures, units / %
FTEs (100%)	8,983	9,819	-8.5%	10,843	10,561	10,409	9,819	9,735	9,617	9,440	8,983
RoAC**	19.6%	16.0%	+3.6 p.p.	19.4%	17.8%	16.2%	9.9%	23.2%	19.7%	22.1%	13.2%

Volumes, bn
Other Figures, units / %

(**) Annualized ratio between (i) Net profit after AT1/Cashes charges minus Excess Capital charge and (ii) Allocated capital

11

							2023		2024
Central Europe	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	2,720	2,742	-0.8%	+0.8%	638	684	752	668	698	680	678	664
Dividends	286	304	-6.1%	-6.0%	59	89	86	70	50	80	101	54
Fees	1,255	1,159	+8.3%	+9.8%	284	296	278	301	308	329	293	325
Trading income	6	10	-37.0%	-35.1%	-3	-8	12	9	6	11	-1	-10
Other expenses/income	53	47	+12.5%	+14.4%	11	11	8	17	7	10	15	20
Revenue	4,320	4,261	+1.4%	+2.8%	990	1,071	1,136	1,064	1,070	1,110	1,086	1,053
HR Cost	-872	-876	-0.4%	+0.8%	-206	-213	-220	-236	-211	-217	-216	-228
Non HR Cost	-616	-626	-1.5%	-0.4%	-157	-154	-153	-162	-154	-156	-154	-152
Recovery of expenses	2	1	+75.2%	+81.4%	0	0	0	0	0	0	1	0
Amortisation & depreciation	-117	-121	-3.8%	-1.5%	-30	-32	-30	-29	-29	-30	-28	-31
Operating costs	-1,604	-1,622	-1.1%	+0.1%	-393	-400	-402	-427	-393	-403	-397	-410
Gross Operating Profit	2,716	2,639	+2.9%	+4.4%	597	672	733	637	677	707	689	643
Loan Loss Provisions (LLPs)	-33	-41	-19.7%	-20.1%	15	46	-16	-86	47	-22	0	-58
Net Operating Profit	2,683	2,598	+3.3%	+4.8%	612	717	717	551	724	686	689	585
Other Charges & Provisions	-207	-244	-15.3%	-13.6%	-199	-15	-22	-9	-118	-3	-41	-44
o/w Systemic Charges	-153	-217	-29.8%	-28.4%	-197	-18	-4	1	-117	-5	-34	3
o/w DGS	-7	-15	-52.6%	-51.1%	-28	5	1	7	-17	0	0	10
o/w Bank levies	-128	-120	+7.1%	+10.1%	-77	-32	-5	-6	-81	-7	-34	-6
o/w SRF	-17	-82	-79.4%	-78.6%	-92	10	0	0	-19	2	0	0
Integration costs	-103	-211	-51.3%	-51.1%	-2	-3	-18	-188	-2	-5	-6	-89
Net income from investments	76	87	-13.2%	-13.5%	17	-20	-1	92	1	-2	1	76
Profit (loss) Before Tax	2,449	2,230	+9.8%	+11.4%	428	680	676	447	604	676	642	526
Stated Net Profit	1,976	1,832	+7.9%	+9.4%	330	569	596	337	481	569	490	436
Net Profit after AT1/Cashes*	1,882	1,745	+7.9%	+9.5%	330	531	583	301	468	532	477	405
Income Statement Ratios
Cost income ratio	37.1%	38.1%	-0.9 p.p.		39.7%	37.3%	35.4%	40.1%	36.7%	36.3%	36.6%	39.0%
Cost of Risk (LLP annualised on Avg Loans) in basis points	4	4	-1		-6	-19	7	36	-20	9	0	25
Volumes, bn
Customers Loans (excl. Repos and IC)	92.0	95.4	-3.5%		96.8	97.0	96.5	95.4	93.7	93.4	93.3	92.0

Cost income ratio Cost of Risk (LLP annualised on Avg Loans) in basis points	37.1% 4	38.1% 4	-0.9 p.p. -1	39.7% -6	37.3% -19	35.4% 7	40.1% 36	36.7% -20	36.3% 9	36.6% 0	39.0% 25
Volumes, bn
Customers Loans (excl. Repos and IC)	92.0	95.4	-3.5%	96.8	97.0	96.5	95.4	93.7	93.4	93.3	92.0
Customer Depos (excl. Repos and IC)	96.9	93.5	+3.7%	93.7	92.7	91.4	93.5	93.4	94.5	92.9	96.9
Total RWA	58.6	60.5	-3.2%	61.3	61.0	60.3	60.5	59.5	58.8	58.6	58.6
Other Figures, units / %
FTEs (100%)	9,844	10,191	-3.4%	10,516	10,470	10,391	10,191	10,041	9,892	9,935	9,844
RoAC**	22.9%	21.0%	+1.9 p.p.	15.6%	25.7%	28.5%	14.2%	22.4%	26.2%	23.5%	19.5%

N.B. CE results include CE Countries results and Profit Center CE. (**) Annualized ratio between (i) Net profit after AT1/Cashes charges minus Excess Capital charge and (ii) Allocated capital

							2023				2024
Eastern Europe	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	2,027	1,855	+9.3%	+9.4%	403	444	493	514	493	497	502	535
Dividends	7	6	+10.0%	+10.1%	2	2	1	1	2	3	1	1
Fees	746	664	+12.4%	+12.5%	158	164	172	170	179	186	181	201
Trading income	57	60	-5.6%	-5.3%	26	18	23	-6	21	13	10	14
Other expenses/income	36	6	n.m.	n.m.	3	-3	2	3	7	9	16	5
Revenue	2,872	2,591	+10.8%	+11.0%	592	625	692	682	701	706	709	755
HR Cost	-473	-438	+7.9%	+8.1%	-102	-108	-108	-119	-108	-111	-116	-138
Non HR Cost	-329	-306	+7.6%	+7.8%	-75	-74	-73	-85	-78	-77	-77	-97
Recovery of expenses	2	0	n.m.	n.m.	0	0	0	0	0	0	0	1
Amortisation & depreciation	-105	-106	-1.5%	-1.3%	-26	-28	-27	-26	-27	-26	-23	-29
Operating costs	-905	-850	+6.5%	+6.6%	-203	-209	-208	-229	-213	-213	-215	-264
Gross Operating Profit	1,967	1,741	+13.0%	+13.1%	389	415	484	453	488	493	494	492
Loan Loss Provisions (LLPs)	22	72	-69.0%	-69.3%	34	-3	6	35	23	78	-11	-67
Net Operating Profit	1,989	1,813	+9.7%	+9.8%	423	412	490	489	511	571	483	425
Other Charges & Provisions	-95	-80	+18.4%	+18.6%	-49	1	-13	-19	-37	-12	-10	-35
o/w Systemic Charges	-65	-51	+28.6%	+28.9%	-45	9	-3	-11	-34	-7	-9	-15
o/w DGS	-37	-37	+1.3%	+1.3%	-22	-1	-3	-11	-23	-2	-4	-8
o/w Bank levies	-22	0	n.m.	n.m.	0	0	0	0	-5	-5	-5	-7
o/w SRF	-6	-14	-59.4%	-59.2%	-23	9	0	0	-6	0	0	0
Integration costs	-63	-28	n.m.	n.m.	-3	-9	-2	-14	-1	-4	-3	-56
Net income from investments	3	9	-59.8%	-59.8%	-2	6	1	4	1	1	1	1
Profit (loss) Before Tax	1,834	1,713	+7.1%	+7.2%	368	411	475	459	474	555	471	334
Stated Net Profit	1,476	1,420	+4.0%	+4.1%	308	347	396	369	392	448	389	247
Net Profit after AT1/Cashes*	1,430	1,381	+3.5%	+3.6%	308	330	390	353	386	431	382	232
Income Statement Ratios
Cost income ratio	31.5%	32.8%	-1.3 p.p.		34.3%	33.5%	30.1%	33.6%	30.4%	30.2%	30.4%	34.9%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-6	-22	16		-43	4	-8	-42	-27	-89	12	70
Volumes, bn
Customers Loans (excl. Repos and IC)	40.6	33.6	+21.0%		32.1	32.5	33.2	33.6	34.2	35.6	36.5	40.6
Customer Depos (excl. Repos and IC)	53.3	47.1	+13.2%		43.5	44.2	45.5	47.1	46.6	47.1	48.7	53.3
Total RWA	34.7	28.7	+20.8%		27.0	27.9	28.2	28.7	29.6	30.7	30.9	34.7
Other Figures, units / %
FTEs (100%)	14,641	13,019	+12.5%		13,563	13,432	13,122	13,019	12,944	12,804	12,792	14,641
RoAC**	35.2%	36.9%	-1.8 p.p.		33.3%	35.7%	41.7%	36.9%	38.9%	42.7%	36.5%	21.1%

Volumes, bn
Other Figures, units / %

N.B. EE results include EE Countries results and Profit Center EE. (**) Annualized ratio between (i) Net profit after AT1/Cashes charges minus Excess Capital charge and (ii) Allocated capital

							2023		2024
CE - Austria	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	1,604	1,574	+1.9%	+1.9%	361	396	442	375	401	404	394	405
Dividends	284	302	-5.9%	-5.9%	59	89	85	69	50	80	101	54
Fees	798	740	+7.7%	+7.7%	184	182	180	194	203	195	192	208
Trading income	1	6	-81.0%	-80.7%	-7	-8	13	9	3	4	-2	-4
Other expenses/income	38	34	+11.5%	+11.8%	5	9	9	12	6	12	7	13
Revenue	2,725	2,656	+2.6%	+2.6%	602	667	729	659	663	696	692	674
HR Cost	-580	-583	-0.5%	-0.5%	-137	-145	-146	-155	-140	-144	-143	-152
Non HR Cost	-406	-412	-1.6%	-1.6%	-107	-104	-104	-97	-101	-103	-100	-102
Recovery of expenses	0	1	-73.9%	-73.9%	0	0	0	0	0	0	0	0
Amortisation & depreciation	-44	-48	-6.8%	-6.8%	-12	-14	-12	-10	-11	-11	-11	-11
Operating costs	-1,030	-1,042	-1.2%	-1.2%	-255	-263	-262	-262	-252	-259	-253	-265
Gross Operating Profit	1,695	1,614	+5.0%	+5.0%	346	404	467	397	410	438	438	409
Loan Loss Provisions (LLPs)	-41	-43	-4.5%	-4.5%	8	21	-25	-47	48	-44	-15	-29
Net Operating Profit	1,654	1,571	+5.3%	+5.3%	354	425	443	349	458	393	423	380
Other Charges & Provisions	-51	-96	-47.3%	-47.3%	-76	1	-22	1	-15	4	-6	-35
o/w Systemic Charges	-22	-79	-72.7%	-72.7%	-72	-2	-6	1	-15	-5	-5	5
o/w DGS	0	-5	-97.3%	-97.3%	-16	3	0	7	-10	0	0	10
o/w Bank levies	-21	-22	-4.6%	-4.6%	-6	-6	-6	-6	-5	-5	-5	-5
o/w SRF	0	-51	-100.0%	-100.0%	-51	0	0	0	0	0	0	0
Integration costs	-88	-179	-50.7%	-50.7%	-2	2	-16	-164	-2	-5	-6	-76
Net income from investments	73	92	-20.4%	-20.5%	19	-19	4	89	1	-2	-1	75
Profit (loss) Before Tax	1,588	1,387	+14.5%	+14.5%	295	409	408	275	441	391	411	345
Stated Net Profit	1,286	1,126	+14.2%	+14.2%	223	341	369	192	353	339	305	289
Net Profit after AT1/Cashes*	1,226	1,071	+14.5%	+14.5%	223	316	361	170	345	315	297	270
Income Statement Ratios
Cost income ratio	37.8%	39.2%	-1.5 p.p.		42.5%	39.4%	35.9%	39.8%	38.1%	37.1%	36.6%	39.3%
Cost of Risk (LLP annualised on Avg Loans) in basis points	7	7	0		-5	-13	15	29	-30	29	10	19
Volumes, bn
Customers Loans (excl. Repos and IC)	60.5	63.8	-5.3%		65.7	65.6	65.1	63.8	62.2	62.0	61.6	60.5
Customer Depos (excl. Repos and IC)	60.5	59.5	+1.6%		61.0	58.9	58.7	59.5	59.8	59.7	58.4	60.5
Total RWA	39.2	38.6	+1.7%		39.5	38.7	38.3	38.6	37.9	38.0	38.1	39.2
Other Figures, units / %
FTEs (100%)	4,480	4,747	-5.6%		4,939	4,906	4,869	4,747	4,618	4,556	4,548	4,480

Cost income ratio Cost of Risk (LLP annualised on Avg Loans) in basis points	37.8% 7	39.2% 7	-1.5 p.p. 0	42.5% -5	39.4% -13	35.9% 15	39.8% 29	38.1% -30	37.1% 29	36.6% 10	39.3% 19
Volumes, bn
Customers Loans (excl. Repos and IC)	60.5	63.8	-5.3%	65.7	65.6	65.1	63.8	62.2	62.0	61.6	60.5
Customer Depos (excl. Repos and IC)	60.5	59.5	+1.6%	61.0	58.9	58.7	59.5	59.8	59.7	58.4	60.5
Total RWA	39.2	38.6	+1.7%	39.5	38.7	38.3	38.6	37.9	38.0	38.1	39.2
Other Figures, units / %
FTEs (100%)	4,480	4,747	-5.6%	4,939	4,906	4,869	4,747	4,618	4,556	4,548	4,480
RoAC**	23.8%	20.8%	+3.0 p.p.	17.1%	24.6%	28.4%	13.1%	26.9%	24.7%	23.2%	20.5%

							2023				2024
CE - Czech Republic & Slovakia	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	630	649	-2.9%	+1.5%	155	163	166	164	163	154	158	156
Dividends	2	2	-28.6%	-28.4%	1	1	1	1	0	0	0	0
Fees	268	256	+4.9%	+9.6%	62	72	56	65	63	77	58	70
Trading income	6	9	-34.7%	-31.6%	4	2	5	-2	1	2	2	2
Other expenses/income	16	11	+51.2%	+56.4%	3	2	3	3	3	1	5	8
Revenue	922	927	-0.5%	+4.0%	225	241	230	230	229	234	223	235
HR Cost	-176	-179	-1.5%	+2.9%	-42	-45	-45	-47	-42	-44	-44	-46
Non HR Cost	-122	-123	-1.5%	+3.0%	-29	-29	-28	-38	-30	-31	-32	-28
Recovery of expenses	1	0	n.m.	n.m.	0	0	0	0	0	0	1	0
Amortisation & depreciation	-47	-48	-1.7%	+2.8%	-12	-12	-12	-12	-12	-12	-11	-13
Operating costs	-344	-350	-1.8%	+2.6%	-83	-86	-85	-97	-84	-88	-86	-86
Gross Operating Profit	578	576	+0.2%	+4.8%	142	155	145	133	145	146	137	149
Loan Loss Provisions (LLPs)	-7	-10	-26.9%	-22.6%	4	-9	6	-12	2	4	8	-22
Net Operating Profit	570	566	+0.7%	+5.3%	147	146	152	121	148	150	146	127
Other Charges & Provisions	-19	-29	-33.9%	-30.8%	-33	7	0	-4	-18	0	-1	0
o/w Systemic Charges	-18	-28	-35.8%	-32.8%	-35	6	0	0	-18	1	0	0
o/w DGS	-3	-3	+5.8%	+10.7%	-3	0	0	0	-2	0	0	0
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
o/w SRF	-15	-25	-40.3%	-37.6%	-32	6	0	0	-16	1	0	0
Integration costs	-11	-13	-15.9%	-12.1%	0	0	0	-13	0	0	0	-11
Net income from investments	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Profit (loss) Before Tax	540	524	+3.1%	+7.8%	114	154	152	105	129	150	145	116
Stated Net Profit	426	435	-2.2%	+2.2%	94	127	125	89	104	118	115	89
Net Profit after AT1/Cashes*	403	414	-2.5%	+2.1%	94	118	122	80	100	109	112	82
Income Statement Ratios
Cost income ratio	37.3%	37.8%	-0.5 p.p.		36.8%	35.6%	36.8%	42.1%	36.6%	37.5%	38.6%	36.7%
Cost of Risk (LLP annualised on Avg Loans) in basis points	3	4	-1		-8	15	-11	21	-4	-7	-15	38
Volumes, bn
Customers Loans (excl. Repos and IC)	23.5	23.1	+2.0%		22.5	22.7	22.9	23.1	23.1	23.1	23.4	23.5
Customer Depos (excl. Repos and IC)	25.4	22.9	+11.1%		22.2	23.5	22.5	22.9	22.7	24.3	23.9	25.4
Total RWA	12.7	14.7	-13.5%		14.9	15.3	15.0	14.7	14.3	13.9	13.6	12.7
Other Figures, units / %

Cost income ratio Cost of Risk (LLP annualised on Avg Loans) in basis points	37.3% 3	37.8% 4	-0.5 p.p. -1	36.8% -8	35.6% 15	36.8% -11	42.1% 21	36.6% -4	37.5% -7	38.6% -15	36.7% 38
Volumes, bn
Customers Loans (excl. Repos and IC)	23.5	23.1	+2.0%	22.5	22.7	22.9	23.1	23.1	23.1	23.4	23.5
Customer Depos (excl. Repos and IC)	25.4	22.9	+11.1%	22.2	23.5	22.5	22.9	22.7	24.3	23.9	25.4
Total RWA	12.7	14.7	-13.5%	14.9	15.3	15.0	14.7	14.3	13.9	13.6	12.7
Other Figures, units / %
FTEs (100%)	3,098	3,117	-0.6%	3,172	3,180	3,155	3,117	3,102	3,063	3,116	3,098
RoAC**	19.7%	19.3%	+0.4 p.p.	17.5%	22.1%	23.0%	14.3%	18.8%	21.4%	22.4%	16.0%

					2023				2024
CE - Hungary	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	351	393	-10.8%	-7.6%	94	94	108	96	99	86	83	83
Dividends	0	0	+78.6%	+84.9%	0	0	0	0	0	0	0	0
Fees	143	134	+7.1%	+10.9%	30	35	35	34	33	41	34	36
Trading income	-1	-5	-82.9%	-82.3%	0	-2	-5	2	3	5	0	-9
Other expenses/income	-2	4	n.m.	n.m.	4	0	-2	2	-1	-2	0	1
Revenue	491	526	-6.6%	-3.3%	129	127	136	134	134	129	118	110
HR Cost	-76	-72	+5.4%	+9.1%	-16	-17	-18	-20	-18	-18	-19	-21
Non HR Cost	-56	-54	+4.0%	+7.6%	-12	-13	-12	-18	-14	-14	-14	-15
Recovery of expenses	0	0	+85.1%	+91.6%	0	0	0	0	0	0	0	0
Amortisation & depreciation	-19	-19	+0.9%	+4.4%	-4	-4	-5	-5	-4	-5	-5	-5
Operating costs	-151	-144	+4.2%	+7.9%	-32	-34	-35	-43	-36	-36	-37	-41
Gross Operating Profit	341	381	-10.7%	-7.5%	97	93	101	91	99	93	81	69
Loan Loss Provisions (LLPs)	1	18	-94.6%	-94.4%	-2	35	9	-23	-3	7	3	-6
Net Operating Profit	342	399	-14.4%	-11.4%	94	128	109	68	96	100	83	63
Other Charges & Provisions	-104	-109	-4.6%	-1.3%	-85	-22	1	-2	-80	2	-27	1
o/w Systemic Charges	-105	-106	-1.7%	+1.8%	-85	-22	1	0	-80	1	-27	1
o/w DGS	-3	-6	-50.0%	-48.2%	-8	1	1	0	-3	0	0	0
o/w Bank levies	-100	-97	+2.3%	+5.9%	-71	-27	0	0	-74	0	-27	1
o/w SRF	-2	-3	-35.7%	-33.4%	-6	3	0	0	-3	1	0	0
Integration costs	0	-6	-92.8%	-92.5%	0	0	0	-6	0	0	0	-1
Net income from investments	3	-4	n.m.	n.m.	-2	-1	-5	4	1	0	2	0
Profit (loss) Before Tax	240	280	-14.2%	-11.2%	7	104	106	63	17	102	58	64
Stated Net Profit	204	240	-15.1%	-12.1%	3	91	94	52	11	89	49	55
Net Profit after AT1/Cashes*	195	233	-16.2%	-13.2%	3	88	92	49	10	86	48	52
Income Statement Ratios
Cost income ratio	30.6%	27.5%	+3.2 p.p.		25.0%	26.9%	25.7%	32.1%	26.7%	28.1%	31.4%	37.6%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-2	-31	30		18	-245	-60	166	19	-48	-18	42
Volumes, bn
Customers Loans (excl. Repos and IC)	5.6	5.7	-1.9%		5.6	5.8	5.6	5.7	5.7	5.7	5.7	5.6
Customer Depos (excl. Repos and IC)	7.9	8.1	-2.2%		7.9	7.5	7.3	8.1	7.9	7.6	7.5	7.9
Total RWA	5.1	5.4	-6.2%		4.8	5.0	5.0	5.4	5.3	5.2	5.2	5.1
Other Figures, units / %
FTEs (100%)	1,742	1,755	-0.8%		1,789	1,787	1,774	1,755	1,765	1,730	1,736	1,742
RoAC**	24.7%	32.9%	-8.2 p.p.		-1.7%	51.6%	53.0%	26.2%	1.2%	47.1%	24.1%	26.9%

Volumes, bn
Other Figures, units / %

							2023				2024
CE - Slovenia	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	103	89	+15.1%	+15.1%	18	21	25	25	27	26	25	24
Dividends	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Fees	29	25	+14.8%	+14.8%	6	6	6	7	7	7	8	7
Trading income	-1	-1	-38.2%	-38.2%	0	0	0	-1	-1	0	1	-1
Other expenses/income	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Revenue	130	113	+15.6%	+15.6%	24	27	30	31	33	33	33	31
HR Cost	-27	-26	+3.6%	+3.6%	-6	-6	-7	-7	-7	-7	-7	-7
Non HR Cost	-13	-14	-4.5%	-4.5%	-3	-3	-3	-4	-4	-4	-4	-2
Recovery of expenses	0	0	-11.9%	-11.9%	0	0	0	0	0	0	0	0
Amortisation & depreciation	-6	-6	-1.5%	-1.5%	-1	-1	-1	-2	-1	-1	-1	-1
Operating costs	-46	-46	+0.6%	+0.6%	-11	-11	-11	-12	-12	-12	-12	-11
Gross Operating Profit	84	67	+25.9%	+25.9%	13	16	19	18	22	21	21	20
Loan Loss Provisions (LLPs)	2	4	-59.5%	-59.5%	7	1	-6	1	1	-2	3	-1
Net Operating Profit	86	71	+21.3%	+21.3%	21	18	13	19	23	20	24	19
Other Charges & Provisions	-33	-8	n.m.	n.m.	-2	-1	-1	-4	-5	-9	-8	-11
o/w Systemic Charges	-8	-2	n.m.	n.m.	-3	0	0	0	-3	-2	-2	-2
o/w DGS	-1	-1	-6.1%	-6.1%	-1	0	0	0	-1	0	0	0
o/w Bank levies	-7	0	n.m.	n.m.	0	0	0	0	-2	-2	-2	-2
o/w SRF	0	-1	-95.6%	-95.6%	-1	0	0	0	0	0	0	0
Integration costs	0	-5	-99.8%	-99.8%	0	0	0	-5	0	0	0	0
Net income from investments	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Profit (loss) Before Tax	53	58	-8.9%	-8.9%	19	17	12	10	18	10	17	8
Stated Net Profit	41	47	-11.6%	-11.6%	15	14	10	8	14	8	13	7
Net Profit after AT1/Cashes*	39	45	-12.5%	-12.5%	15	13	9	8	13	7	13	6
Income Statement Ratios
Cost income ratio	35.4%	40.7%	-5.3 p.p.		45.3%	40.4%	37.6%	40.2%	35.2%	35.5%	35.6%	35.3%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-8	-19	11		-146	-24	118	-22	-25	36	-67	25
Volumes, bn
Customers Loans (excl. Repos and IC)	1.9	1.9	+0.6%		2.0	2.0	2.0	1.9	1.9	1.9	2.0	1.9
Customer Depos (excl. Repos and IC)	3.1	3.0	+4.0%		2.7	2.8	2.9	3.0	3.0	3.0	3.1	3.1
Total RWA	1.4	1.3	+4.6%		1.4	1.4	1.4	1.3	1.3	1.4	1.4	1.4
Other Figures, units / %
FTEs (100%)	476	491	-3.2%		510	501	500	491	484	481	478	476
RoAC**	21.0%	24.4%	-3.4 p.p.		33.1%	27.9%	20.1%	16.6%	30.1%	15.3%	27.4%	11.6%

Volumes, bn
Other Figures, units / %

						2023				2024
EE - Croatia	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	601	577	+4.2%	+4.2%	121	141	160	154	151	150	152	149
Dividends	5	5	+3.0%	+3.0%	2	1	1	1	2	1	1	1
Fees	184	179	+2.9%	+2.9%	43	43	48	44	44	46	47	47
Trading income	-1	0	n.m.	n.m.	2	2	1	-5	2	0	1	-4
Other expenses/income	17	5	n.m.	n.m.	1	1	2	2	1	7	9	0
Revenue	806	766	+5.2%	+5.2%	169	189	212	197	200	204	210	192
HR Cost	-127	-119	+6.9%	+6.9%	-28	-29	-29	-32	-29	-30	-32	-36
Non HR Cost	-94	-91	+3.0%	+3.0%	-22	-22	-22	-25	-24	-23	-23	-24
Recovery of expenses	1	0	n.m.	n.m.	0	0	0	0	0	0	0	1
Amortisation & depreciation	-23	-26	-13.2%	-13.2%	-6	-8	-7	-6	-6	-5	-5	-6
Operating costs	-243	-236	+2.8%	+2.8%	-57	-58	-58	-64	-59	-58	-60	-65
Gross Operating Profit	563	530	+6.3%	+6.3%	112	131	154	133	141	146	150	127
Loan Loss Provisions (LLPs)	30	31	-1.2%	-1.2%	17	6	20	-13	16	12	5	-4
Net Operating Profit	593	560	+5.9%	+5.9%	129	137	174	120	157	159	155	123
Other Charges & Provisions	-41	-37	+9.6%	+9.6%	-8	-4	-9	-17	-2	-5	-1	-33
o/w Systemic Charges	-4	-7	-39.1%	-39.1%	-4	4	0	-7	0	0	0	-4
o/w DGS	-4	-7	-38.6%	-38.6%	0	0	0	-7	0	0	0	-4
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
o/w SRF	0	0	-100.0%	-100.0%	-4	4	0	0	0	0	0	0
Integration costs	-4	-5	-20.9%	-20.9%	-2	-3	0	-1	0	0	0	-4
Net income from investments	4	1	n.m.	n.m.	-2	4	-3	1	0	0	0	4
Profit (loss) Before Tax	552	518	+6.5%	+6.5%	119	135	162	103	155	153	154	89
Stated Net Profit	435	406	+7.1%	+7.1%	93	106	128	79	123	121	122	69
Net Profit after AT1/Cashes*	423	396	+6.7%	+6.7%	93	102	126	75	121	117	120	65
Income Statement Ratios

Cost income ratio Cost of Risk (LLP annualised on Avg Loans) in basis points	30.1% -27	30.8% -29	-0.7 p.p. 2	33.6% -68	30.8% -23	27.2% -78	32.3% 49	29.6% -60	28.4% -45	28.7% -19	34.1% 13
Volumes, bn
Customers Loans (excl. Repos and IC)	11.4	10.7	+6.6%	10.3	10.3	10.5	10.7	10.8	11.3	11.4	11.4
Customer Depos (excl. Repos and IC)	17.4	16.9	+3.0%	15.6	16.0	17.0	16.9	16.4	16.6	17.1	17.4
Total RWA	8.8	7.9	+10.3%	7.3	7.7	7.7	7.9	8.2	8.5	8.5	8.8
Other Figures, units / %
FTEs (100%)	3,061	3,164	-3.3%	3,282	3,301	3,166	3,164	3,163	3,171	3,077	3,061
RoAC**	38.6%	40.1%	-1.5 p.p.	38.1%	42.4%	51.0%	28.9%	45.9%	42.9%	43.7%	22.6%

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

(*) Net Profit after AT1/Cashes: means Net Profit as defined in page 3 (Income Statement) adjusted for impacts from AT1 and Cashes charges. The result is used for cash dividend accrual and Total distribution, as well as RoTE and RoAC calculation (**) Annualized ratio between (i) Net profit after AT1/Cashes charges minus Excess Capital charge and (ii) Allocated capital

							2023				2024
EE - Romania	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	520	432	+20.2%	+20.9%	99	103	108	122	117	121	122	159
Dividends	1	1	+27.1%	+27.8%	0	1	0	0	0	1	0	0
Fees	177	155	+14.2%	+14.8%	37	39	41	38	40	43	43	50
Trading income	32	44	-27.7%	-27.3%	13	10	13	7	9	7	9	7
Other expenses/income	0	0	+3.5%	+4.1%	0	1	-1	0	1	-2	0	1
Revenue	729	632	+15.4%	+16.1%	149	154	162	167	168	170	173	218
HR Cost	-133	-115	+16.4%	+17.0%	-28	-29	-28	-30	-29	-29	-31	-45
Non HR Cost	-87	-68	+27.9%	+28.6%	-16	-16	-16	-19	-18	-18	-18	-32
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Amortisation & depreciation	-31	-30	+2.2%	+2.8%	-8	-7	-7	-8	-8	-8	-5	-11
Operating costs	-250	-212	+18.0%	+18.6%	-52	-52	-51	-57	-55	-55	-54	-87
Gross Operating Profit	479	420	+14.2%	+14.8%	97	102	110	110	113	115	120	131
Loan Loss Provisions (LLPs)	-45	-45	+2.0%	+2.6%	-5	-17	-8	-14	8	16	-16	-53
Net Operating Profit	434	375	+15.6%	+16.3%	92	85	102	96	121	131	104	78
Other Charges & Provisions	-30	-12	n.m.	n.m.	-15	2	0	1	-13	-5	-5	-7
o/w Systemic Charges	-30	-12	n.m.	n.m.	-15	2	0	0	-13	-5	-5	-7
o/w DGS	-1	-1	-0.5%	+0.0%	-2	0	0	0	-1	0	0	0
o/w Bank levies	-22	0	n.m.	n.m.	0	0	0	0	-5	-5	-5	-7
o/w SRF	-6	-11	-46.7%	-46.4%	-13	2	0	0	-6	0	0	0
Integration costs	-48	-4	n.m.	n.m.	0	0	0	-4	0	-1	-1	-46
Net income from investments	1	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Profit (loss) Before Tax	356	360	-1.0%	-0.5%	78	88	102	92	108	125	98	25
Stated Net Profit	258	296	-12.7%	-12.2%	64	73	83	75	88	102	79	-11
Net Profit after AT1/Cashes*	247	286	-13.6%	-13.0%	64	68	82	71	87	97	77	-14
Income Statement Ratios
Cost income ratio	34.3%	33.6%	+0.7 p.p.		34.8%	33.9%	31.8%	33.9%	32.6%	32.3%	31.0%	39.8%
Cost of Risk (LLP annualised on Avg Loans) in basis points	51	58	-7		28	87	43	72	-40	-75	74	199
Volumes, bn
Customers Loans (excl. Repos and IC)	12.4	8.1	+52.8%		7.6	7.7	7.9	8.1	8.2	8.6	8.9	12.4
Customer Depos (excl. Repos and IC)	14.1	10.2	+37.7%		9.1	9.2	9.0	10.2	10.3	10.2	10.7	14.1
Total RWA	11.2	7.5	+49.1%		6.9	7.1	7.3	7.5	7.7	8.0	8.1	11.2
Other Figures, units / %

39.8% 199
12.4
14.1
11.2
5,169
-6.4%
31.0% 74 8.9 10.7 8.1 3,268 27.2%

							2023
EE - Bulgaria	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	2024 3Q 127 127 1 0 56 51 3 4 3 6 189 189 -25 -27 -13 -14 0 0 -7 -7 -46 -48 143 140 -12 -10 131 130 1 0 1 0 1 0 0 0 0 0 -2 -2 0 0 130 128 109 108 105 106 24.3% 25.5% 50 42	4Q
Income Statement, m
Net interest	507	455	+11.5%	+11.5%	99	111	120	125	126			127
Dividends	1	1	+48.3%	+48.3%	0	0	0	0	0			0
Fees	214	190	+12.4%	+12.4%	45	47	48	50	50			57
Trading income	19	26	-26.6%	-26.6%	8	7	5	6	7			5
Other expenses/income	15	-3	n.m.	n.m.	1	-7	1	1	4			2
Revenue	755	668	+13.1%	+13.1%	154	158	174	182	187			191
HR Cost	-108	-103	+4.8%	+4.8%	-24	-24	-25	-29	-25			-30
Non HR Cost	-59	-59	+0.2%	+0.2%	-15	-14	-14	-15	-15			-17
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0			0
Amortisation & depreciation	-29	-28	+6.4%	+6.4%	-7	-7	-7	-7	-7			-7
Operating costs	-196	-189	+3.6%	+3.6%	-46	-45	-46	-51	-47			-54
Gross Operating Profit	560	479	+16.8%	+16.8%	108	113	128	131	140			136
Loan Loss Provisions (LLPs)	-43	-14	n.m.	n.m.	13	4	-8	-23	-10			-11
Net Operating Profit	517	465	+11.2%	+11.2%	121	117	119	108	130			126
Other Charges & Provisions	-8	-14	-43.8%	-43.8%	-20	5	0	1	-18			9
o/w Systemic Charges	-17	-15	+12.6%	+12.6%	-20	5	0	0	-18			0
o/w DGS	-17	-15	+12.6%	+12.6%	-17	3	0	0	-18			0
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.	-3	3	0	0	0			0
Integration costs	-6	-8	-30.1%	-30.1%	-1	-1	0	-6	0			-2
Net income from investments	0	7	-98.9%	-98.9%	0	0	3	3	0			0
Profit (loss) Before Tax	503	449	+12.1%	+12.1%	99	121	122	106	112			133
Stated Net Profit	425	401	+6.1%	+6.1%	88	108	109	95	94			114
Net Profit after AT1/Cashes*	413	392	+5.5%	+5.5%	88	104	108	91	93			109
Income Statement Ratios
Cost income ratio	25.9%	28.3%	-2.4 p.p.		30.0%	28.7%	26.7%	28.1%	25.3%			28.4%
Cost of Risk (LLP annualised on Avg Loans) in basis points	44	17	27		-65	-18	38	101	41			41
Volumes, bn

Cost income ratio Cost of Risk (LLP annualised on Avg Loans) in basis points	25.9% 44	28.3% 17	-2.4 p.p. 27	30.0% -65	28.7% -18	26.7% 38	28.1% 101	25.3% 41	24.3% 50	25.5% 42	28.4% 41
Volumes, bn
Customers Loans (excl. Repos and IC)	10.6	9.1	+16.2%	8.1	8.5	9.0	9.1	9.5	9.9	10.2	10.6
Customer Depos (excl. Repos and IC)	13.5	12.7	+6.4%	12.1	12.1	12.4	12.7	12.5	12.6	12.9	13.5
Total RWA	8.1	7.2	+13.4%	6.3	6.8	6.9	7.2	7.5	7.8	7.8	8.1
Other Figures, units / %
FTEs (100%)	3,582	3,692	-3.0%	3,960	3,869	3,786	3,692	3,641	3,558	3,612	3,582
RoAC**	39.6%	43.7%	-4.0 p.p.	41.5%	47.2%	47.5%	38.6%	37.2%	40.9%	39.7%	40.6%

							2023				2024
EE - Bosnia	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	148	134	+10.5%	+10.5%	30	33	35	37	37	37	37	37
Dividends	0	0	-	-	0	0	0	0	0	0	0	0
Fees	78	68	+15.8%	+15.8%	16	16	18	17	19	19	19	22
Trading income	3	0	n.m.	n.m.	1	-1	0	1	1	1	1	1
Other expenses/income	5	4	+35.0%	+35.0%	1	2	0	0	1	1	1	2
Revenue	235	206	+14.0%	+14.0%	48	50	53	55	57	58	57	62
HR Cost	-45	-42	+6.7%	+6.7%	-10	-10	-11	-11	-11	-11	-11	-12
Non HR Cost	-32	-31	+4.2%	+4.2%	-8	-8	-8	-8	-8	-8	-8	-9
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Amortisation & depreciation	-10	-10	+3.0%	+3.0%	-3	-3	-3	-2	-3	-3	-3	-3
Operating costs	-88	-84	+5.1%	+5.1%	-21	-21	-21	-22	-21	-22	-22	-23
Gross Operating Profit	147	122	+20.0%	+20.0%	27	30	32	33	36	36	36	39
Loan Loss Provisions (LLPs)	-3	-5	-41.6%	-41.6%	-1	-2	0	-2	2	-2	-1	-1
Net Operating Profit	144	117	+22.5%	+22.5%	27	27	32	31	38	34	35	37
Other Charges & Provisions	-10	-8	+15.1%	+15.1%	-2	-2	-2	-2	-2	-2	-2	-3
o/w Systemic Charges	-9	-8	+9.8%	+9.8%	-2	-2	-2	-2	-2	-2	-2	-2
o/w DGS	-9	-8	+9.8%	+9.8%	-2	-2	-2	-2	-2	-2	-2	-2
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
o/w SRF	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Integration costs	-1	-2	-54.2%	-54.2%	0	0	0	-2	0	0	0	-1
Net income from investments	0	0	+25.4%	+25.4%	0	1	0	-2	1	1	0	-2
Profit (loss) Before Tax	133	107	+24.1%	+24.1%	25	26	30	26	36	32	33	32
Stated Net Profit	116	92	+26.2%	+26.2%	22	22	26	23	31	28	29	29
Net Profit after AT1/Cashes*	113	89	+26.3%	+26.3%	22	21	25	21	30	26	28	28
Income Statement Ratios
Cost income ratio	37.5%	40.6%	-3.1 p.p.		42.9%	40.9%	39.8%	39.2%	36.9%	37.7%	37.5%	37.9%
Cost of Risk (LLP annualised on Avg Loans) in basis points	11	21	-10		9	44	-8	38	-26	38	8	22
Volumes, bn
Customers Loans (excl. Repos and IC)	2.6	2.3	+14.6%		2.2	2.2	2.3	2.3	2.4	2.5	2.6	2.6
Customer Depos (excl. Repos and IC)	3.9	3.6	+8.7%		3.4	3.4	3.6	3.6	3.7	3.7	3.8	3.9
Total RWA	2.5	2.2	+12.7%		2.1	2.1	2.1	2.2	2.3	2.3	2.4	2.5
Other Figures, units / %

Cost income ratio Cost of Risk (LLP annualised on Avg Loans) in basis points	37.5% 11	40.6% 21	-3.1 p.p. -10	42.9% 9	40.9% 44	39.8% -8	39.2% 38	36.9% -26	37.7% 38	37.5% 8	37.9% 22
Volumes, bn
Customers Loans (excl. Repos and IC)	2.6	2.3	+14.6%	2.2	2.2	2.3	2.3	2.4	2.5	2.6	2.6
Customer Depos (excl. Repos and IC)	3.9	3.6	+8.7%	3.4	3.4	3.6	3.6	3.7	3.7	3.8	3.9
Total RWA	2.5	2.2	+12.7%	2.1	2.1	2.1	2.2	2.3	2.3	2.4	2.5
Other Figures, units / %
FTEs (100%)	1,470	1,491	-1.4%	1,524	1,503	1,481	1,491	1,485	1,475	1,474	1,470
RoAC**	37.3%	32.0%	+5.3 p.p.	31.3%	30.2%	36.6%	29.8%	42.0%	35.5%	36.7%	35.2%

							2023				2024
EE - Serbia	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	234	210	+11.7%	+11.5%	44	51	57	57	57	57	59	61
Dividends	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Fees	82	65	+25.6%	+25.5%	15	16	16	18	21	19	19	22
Trading income	4	6	-23.6%	-23.7%	2	1	2	1	2	2	0	0
Other expenses/income	-1	-1	+83.6%	+83.3%	0	0	0	0	0	0	0	-1
Revenue	319	280	+14.1%	+13.9%	61	68	75	76	80	78	79	82
HR Cost	-44	-40	+7.7%	+7.6%	-10	-10	-10	-10	-10	-10	-11	-12
Non HR Cost	-32	-29	+8.1%	+8.0%	-7	-7	-7	-8	-7	-8	-7	-10
Recovery of expenses	0	0	+13.0%	+12.8%	0	0	0	0	0	0	0	0
Amortisation & depreciation	-11	-11	-1.3%	-1.5%	-3	-3	-3	-3	-3	-3	-3	-3
Operating costs	-86	-81	+6.6%	+6.5%	-19	-20	-20	-21	-19	-21	-21	-25
Gross Operating Profit	233	199	+17.1%	+16.9%	42	48	55	55	61	57	57	58
Loan Loss Provisions (LLPs)	8	-13	n.m.	n.m.	3	-1	-2	-13	10	-1	8	-10
Net Operating Profit	241	186	+29.4%	+29.2%	45	47	53	41	71	56	66	48
Other Charges & Provisions	-6	-5	+15.1%	+15.0%	-1	-1	-2	-1	-2	-1	-1	-2
o/w Systemic Charges	-6	-5	+9.8%	+9.6%	-1	-1	-1	-1	-1	-1	-1	-1
o/w DGS	-6	-5	+9.8%	+9.6%	-1	-1	-1	-1	-1	-1	-1	-1
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
o/w SRF	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Integration costs	0	-1	-90.0%	-90.0%	0	0	0	-1	0	0	0	0
Net income from investments	-1	1	n.m.	n.m.	-1	0	0	2	0	0	0	0
Profit (loss) Before Tax	234	182	+28.9%	+28.7%	43	47	51	41	69	56	64	46
Stated Net Profit	205	160	+28.0%	+27.8%	38	41	45	36	61	48	56	40
Net Profit after AT1/Cashes*	199	156	+28.0%	+27.8%	38	39	44	35	61	46	55	38
Income Statement Ratios
Cost income ratio	27.0%	28.8%	-1.9 p.p.		31.6%	29.7%	26.6%	28.1%	24.2%	26.6%	26.8%	30.0%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-24	45	-69		-43	8	31	180	-135	11	-102	119
Volumes, bn
Customers Loans (excl. Repos and IC)	3.3	3.0	+12.3%		2.9	2.9	2.9	3.0	3.0	3.1	3.2	3.3
Customer Depos (excl. Repos and IC)	4.4	3.7	+20.3%		3.4	3.5	3.5	3.7	3.6	4.0	4.1	4.4
Total RWA	3.8	3.3	+13.8%		3.1	3.1	3.1	3.3	3.4	3.6	3.6	3.8
Other Figures, units / %
FTEs (100%)	1,310	1,287	+1.7%		1,320	1,319	1,281	1,287	1,286	1,283	1,303	1,310
RoAC**	40.5%	35.8%	+4.7 p.p.		35.7%	36.6%	40.7%	30.5%	52.6%	38.6%	43.2%	28.7%

Volumes, bn
Other Figures, units / %

							2023			2024
Russia	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	818	799	+2.3%	+11.6%	212	195	190	203	200	201	210	207
Dividends	0	2	-80.8%	-76.7%	1	0	1	-1	0	0	1	0
Fees	249	198	+25.4%	+35.5%	46	56	46	50	44	58	74	73
Trading income	224	42	n.m.	n.m.	16	9	13	5	39	39	98	48
Other expenses/income	1	143	-99.2%	-99.0%	1	1	0	142	0	0	0	0
Revenue	1,292	1185	+9.1%	+21.0%	276	260	250	399	282	298	383	329
HR Cost	-113	-120	-5.4%	+2.7%	-33	-29	-26	-32	-29	-28	-29	-27
Non HR Cost	-76	-68	+11.8%	+21.5%	-19	-17	-15	-17	-18	-18	-19	-21
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0	0	0
Amortisation & depreciation	-36	-38	-4.2%	+4.1%	-12	-11	-8	-7	-9	-11	-9	-8
Operating costs	-226	-226	-0.0%	+8.6%	-64	-57	-50	-56	-56	-57	-56	-57
Gross Operating Profit	1,067	959	+11.2%	+24.0%	212	203	200	344	226	241	327	272
Loan Loss Provisions (LLPs)	144	-8	n.m.	n.m.	25	55	42	-129	37	99	17	-9
Net Operating Profit	1,211	952	+27.2%	+43.1%	237	258	242	215	264	340	344	263
Other Charges & Provisions	-499	-23	n.m.	n.m.	-94	-25	-44	139	-3	-199	-23	-274
o/w Systemic Charges	-10	-23	-56.6%	-51.4%	-8	-3	-9	-3	-3	-3	-2	-2
o/w DGS	-10	-13	-22.3%	-15.6%	-4	-3	-3	-3	-3	-3	-2	-2
o/w Bank levies	0	-6	-100.0%	-100.0%	0	0	-6	0	0	0	0	0
o/w SRF	0	-4	-100.0%	-100.0%	-4	0	0	0	0	0	0	0
Integration costs	-44	-10	n.m.	n.m.	0	0	-6	-5	0	0	0	-44
Net income from investments	52	-31	n.m.	n.m.	3	-32	4	-6	5	16	7	23
Profit (loss) Before Tax	719	888	-19.0%	-9.7%	147	201	196	343	266	157	328	-32
Stated Net Profit	577	666	-13.4%	-3.7%	99	173	156	239	213	116	270	-22
Net Profit after AT1/Cashes*	555	645	-13.9%	-3.9%	99	163	153	230	210	108	266	-29

Income Statement Ratios

Cost income ratio Cost of Risk (LLP annualised on Avg Loans) in basis points	17.5% -612	19.0% 16	-1.6 p.p. -628	23.1% -161	21.8% -423	19.8% -375	13.9% n.m.	19.8% -498	19.0% n.m.	14.7% -305	17.2% 246
Volumes, bn
Customers Loans (excl. Repos and IC)	1.2	3.2	-62.2%	5.6	4.7	4.1	3.2	2.9	2.5	1.8	1.2
Customer Depos (excl. Repos and IC)	3.5	7.2	-51.7%	9.0	7.6	7.8	7.2	6.8	6.3	4.8	3.5
Total RWA	10.8	14.3	-24.2%	15.3	13.6	15.0	14.3	13.6	14.4	12.2	10.8
Other Figures, units / %
FTEs (100%)	2,590	3,153	-17.9%	3,319	3,302	3,226	3,153	3,116	3,064	2,955	2,590
RoAC**	6.0%	21.8%	-15.8 p.p.	12.3%	15.0%	20.8%	39.7%	28.2%	-3.8%	26.9%	-32.8%

NOTE: «Russia» means «Participation in AO Bank + Profit Centre Russia»

(*) Net Profit after AT1/Cashes: means Net Profit as defined in page 3 (Income Statement) adjusted for impacts from AT1 and Cashes charges. The result is used for cash dividend accrual and Total distribution, as well as RoTE and RoAC calculation

						2023				2024
GCC	FY24	FY23	Change (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	-468	-453	+3.3%	-115	-122	-112	-103	-100	-87	-157	-123
Dividends	32	18	+78.0%	16	0	-1	3	16	5	6	6
Fees	-59	-60	-1.0%	-15	-27	-10	-8	-13	-10	-16	-20
Trading income	126	85	+47.4%	-16	14	33	55	43	30	9	44
Other expenses/income	-87	-123	-29.4%	-22	-30	-20	-51	-8	-25	-28	-26
Revenue	-456	-532	-14.3%	-151	-165	-111	-106	-62	-88	-185	-120
HR Cost	-785	-734	+7.0%	-160	-163	-167	-243	-183	-177	-177	-248
Non HR Cost	665	692	-4.0%	180	177	161	174	195	185	166	119
Recovery of expenses	57	55	+3.0%	12	11	13	18	14	23	8	12
Amortisation & depreciation	-473	-459	+3.0%	-112	-120	-111	-116	-120	-113	-120	-119
Operating costs	-537	-446	+20.4%	-80	-94	-104	-167	-94	-83	-123	-237
Gross Operating Profit	-993	-978	+1.5%	-232	-259	-215	-273	-157	-171	-308	-357
Loan Loss Provisions (LLPs)	0	3	-98.8%	2	0	1	0	0	0	0	0
Net Operating Profit	-993	-975	+1.8%	-230	-258	-214	-273	-157	-171	-308	-357
Other Charges & Provisions	-3	-13	-80.1%	-6	0	-3	-5	-3	-1	0	2
o/w Systemic Charges	0	-6	n.m.	-6	0	0	0	0	0	0	0
o/w DGS	0	0	n.m.	0	0	0	0	0	0	0	0
o/w Bank levies	0	0	n.m.	0	0	0	0	0	0	0	0
o/w SRF	0	-6	-100.0%	-6	0	0	0	0	0	0	0
Integration costs	-107	-122	-12.2%	5	-50	6	-83	-1	-7	-10	-89
Net income from investments	0	-1	n.m.	0	0	0	0	1	0	0	0
Profit (loss) Before Tax	-1,102	-1,110	-0.7%	-231	-308	-210	-361	-159	-179	-320	-445
Stated Net Profit	-990	-997	-0.7%	-146	-300	-185	-366	-177	-159	-312	-342
Net Profit after AT1/Cashes*	-999	-1,002	-0.3%	-146	-302	-186	-368	-178	-161	-313	-347
Income Statement Ratios
Cost income ratio	n.m.	n.m.	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	n.m	n.m
Volumes, bn
Customers Loans (excl. Repos and IC)	0.2	0.2	+0.1%	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2
Customer Depos (excl. Repos and IC)	0.0	0.0	+0.0%	1.9	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total RWA	6.9	3.5	+99.0%	2.7	3.1	3.0	3.5	3.8	2.4	9.1	6.9
Other Figures, units / %
FTEs (100%)	6,762	7,041	-4.0%	7,548	7,408	7,228	7,041	6,964	6,928	6,952	6,762

					2023				2024
EE & CE excl AUT	FY24	FY23	Change (%)	Ch. Const FX (%)	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Income Statement, m
Net interest	3,143	3,022	+4.0%	+5.5%	680	732	803	807	790	772	786	795
Dividends Fees	8 1,204	8 1,083	+0.3% +11.2%	+0.4% +12.9%	2 258	3 278	2 269	1 277	2 285	3 320	2 282	1 318
Trading income	62	64	-3.2%	-2.8%	31	18	22	-6	23	19	11	8
Other expenses/income	50	18	n.m.	n.m.	10	-1	1	8	8	6	24	12
Revenue	4,467	4,196	+6.5%	+8.0%	981	1,029	1,098	1,087	1,108	1,120	1,104	1,134
HR Cost	-765	-731	+4.7%	+6.2%	-172	-177	-182	-200	-178	-183	-189	-215
Non HR Cost	-540	-520	+4.0%	+5.5%	-125	-124	-122	-150	-131	-131	-132	-147
Recovery of expenses	3	1	n.m.	n.m.	0	0	0	1	0	0	1	1
Amortisation & depreciation	-177	-180	-1.6%	+0.0%	-44	-46	-45	-44	-44	-44	-40	-48
Operating costs	-1,479	-1,430	+3.5%	+5.0%	-341	-346	-349	-394	-353	-358	-359	-409
Gross Operating Profit	2,987	2,766	+8.0%	+9.6%	640	683	749	694	755	763	745	725
Loan Loss Provisions (LLPs)	30	74	-59.0%	-59.6%	41	21	15	-3	22	101	3	-96
Net Operating Profit	3,018	2,840	+6.3%	+7.8%	681	704	764	691	777	863	748	629
Other Charges & Provisions	-251	-228	+10.1%	+12.5%	-172	-14	-13	-29	-140	-20	-46	-45
o/w Systemic Charges	-196	-189	+3.8%	+6.4%	-170	-7	-2	-10	-136	-7	-38	-16
o/w DGS	-44	-47	-5.3%	-4.5%	-34	1	-3	-11	-30	-3	-4	-8
o/w Bank levies	-129	-97	+32.7%	+37.9%	-71	-27	0	0	-81	-7	-34	-8
o/w SRF	-23	-45	-49.6%	-47.9%	-64	19	0	0	-25	3	0	0
Integration costs	-78	-60	+29.7%	+31.6%	-4	-13	-4	-38	-1	-4	-3	-69
Net income from investments	6	4	+48.8%	+41.5%	-4	5	-4	7	1	0	4	1
Profit (loss) Before Tax	2,695	2,556	+5.4%	+6.9%	500	681	743	631	637	840	703	516
Stated Net Profit	2,166	2,125	+1.9%	+3.3%	415	575	622	513	520	678	574	393
Net Profit after AT1/Cashes*	2,086	2,055	+1.5%	+2.9%	415	545	612	484	509	647	562	368
Income Statement Ratios
Cost income ratio	33.1%	34.1%	-1.0 p.p.		34.8%	33.7%	31.8%	36.2%	31.9%	31.9%	32.5%	36.1%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-5	-12	7		-26	-13	-9	2	-13	-61	-2	55
Volumes, bn
Customers Loans (excl. Repos and IC)	72.2	65.1	+10.8%		63.2	63.9	64.6	65.1	65.7	67.0	68.2	72.2
Customer Depos (excl. Repos and IC)	89.8	81.1	+10.7%		76.3	78.0	78.2	81.1	80.2	81.9	83.2	89.8

Cost income ratio Cost of Risk (LLP annualised on Avg Loans) in basis points	33.1% -5	34.1% -12	-1.0 p.p. 7	34.8% -26	33.7% -13	31.8% -9	36.2% 2	31.9% -13	31.9% -61	32.5% -2	36.1% 55
Volumes, bn
Customers Loans (excl. Repos and IC)	72.2	65.1	+10.8%	63.2	63.9	64.6	65.1	65.7	67.0	68.2	72.2
Customer Depos (excl. Repos and IC)	89.8	81.1	+10.7%	76.3	78.0	78.2	81.1	80.2	81.9	83.2	89.8
Total RWA	54.0	50.7	+6.7%	48.8	50.2	50.2	50.7	51.2	51.5	51.5	54.0
Other Figures, units / %
FTEs (100%)	20,006	18,463	+8.4%	19,140	18,997	18,643	18,463	18,368	18,139	18,178	20,006
RoAC**	29.4%	30.0%	-0.6 p.p.	24.2%	32.1%	35.9%	27.8%	28.4%	37.0%	31.4%	19.7%

		FY23	Change (%)	2023				2024
Group Fees, m	FY24			1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Investment Products	2,393	2,030	+17.9%	545	510	501	473	644	618	577	554
Insurance	881	836	+5.4%	231	217	188	200	243	228	190	219
Financing & Advisory Fees	1,772	1,682	+5.3%	450	436	383	414	454	473	429	416
Current Accounts and Payments Fees	2,548	2,499	+2.0%	644	628	610	617	641	672	602	633
Client Hedging Fees*	690	634	+8.9%	186	169	133	146	165	157	177	190
Securitization	-145	-115	+26.0%	-23	-32	-24	-37	-47	-28	-34	-37
TOTAL FEE & COMMISSIONS	8,139	7,565	+7.6%	2,033	1,928	1,790	1,814	2,100	2,120	1,943	1,975

(*) Shift from Trading Income to Fees of the client hedging markup (commercial margin between final price to the client and the offer price, the latter being quoted by the trader and containing bid/offer, market risk hedging costs and day one XVA) for: FX spot operations, plain vanilla derivatives on FX, Fixed Income and Equity, Commodities derivatives.

		2024
Branches, unit	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
Italy	1,986	1,973	1,972	1,950	1,950	1,950	1,944	1,943
Germany	295	280	261	261	261	261	260	251
Central Europe	279	277	275	275	274	271	270	270
Austria	106	104	104	104	104	104	104	104
Czech Republic	104	104	104	104	104	104	104	104
Hungary	51	51	51	51	50	50	50	50
Slovenia	18	18	16	16	16	13	12	12
Eastern Europe	549	543	541	540	537	537	538	535
Croatia	102	99	99	98	98	98	99	99
Romania	141	141	141	141	141	141	141	141
Bulgaria	133	130	130	130	128	128	128	125
Bosnia	101	101	99	99	99	99	99	99
Bosnia NBB	31	31	30	30	30	30	30	30
Bosnia Zabamostar	70	70	69	69	69	69	69	69
Serbia	72	72	72	72	71	71	71	71
Russia	65	61	59	56	56	54	52	40
Total Group	3,174	3,134	3,108	3,082	3,078	3,073	3,064	3,039

* Retail Branches only; for Italy, Germany, CE and EE excluding minor premises, Corporate and Private Banking.