Unicredit — Interim / Quarterly Report 2019

Aug 7, 2019

2Q19 GROUP RESULTS

Divisional Database

7 AUG 2019

1

CONSOLIDATED ACCOUNTS

Consolidated Income Statement	3
Consolidated Income Statement Group Core	4
Consolidated Balance Sheet	5
Group Shareholder's Equity	6
Asset Quality Group	7
Asset Quality Group Core	8
Asset Quality Non Core	9
Asset Quality by Division	10
Capital Position	11

CONTRIBUTION OF DIVISIONS TO GROUP RESULTS

Commercial Bank Italy	12
Commercial Bank Germany	13
Commercial Bank Austria	14
CIB	15
CIB Managerial Data	16
GCC	17
CEE Division	18
CEE Countries	19-28
Non Core	29
Fees - Details Group	30
Branches	31

2Q19 GROUP RESULTS

2

CONSOLIDATED INCOME STATEMENT

		1H		y/y 1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	2018	2018	2018	2018	2019	2019
Net interest	5,132	5,169	-0.7%	2,561	2,608	2,689	2,712	2,578	2,554
Dividends and other income from equity investments	321	353	-9.1%	184	169	111	208	167	154
Net fees and commissions	3,106	3,254	-4.6%	1,642	1,613	1,523	1,551	1,541	1,565
Net trading income	696	782	-11.0%	469	312	293	204	442	253
Net other expenses/income	28	89	-68.3%	56	33	6	17	38	-10
OPERATING INCOME	9,283	9,647	-3.8%	4,912	4,736	4,622	4,692	4,766	4,517
Payroll costs	-3,075	-3,205	-4.1%	-1,614	-1,591	-1,552	-1,579	-1,555	-1,519
Other administrative expenses	-1,635	-1,771	-7.7%	-899	-872	-826	-947	-832	-803
Recovery of expenses	301	320	-5.9%	148	171	158	153	150	151
Amortisation & depreciation	-557	-541	+3.0%	-270	-272	-276	-274	-277	-280
Operating costs	-4,966	-5,198	-4.5%	-2,634	-2,564	-2,497	-2,647	-2,515	-2,452
OPERATING PROFIT	4,316	4,449	-3.0%	2,277	2,172	2,126	2,045	2,252	2,065
Net write-downs of loans	-1,175	-997	+17.8%	-496	-502	-696	-921	-467	-707
NET OPERATING PROFIT	3,142	3,452	-9.0%	1,782	1,670	1,430	1,124	1,784	1,357
Other Charges & Provisions	-450	-1,178	-61.8%	-517	-660	-725	-369	-214	-236
o/w Systemic Charges	-656	-638	+2.8%	-465	-173	-134	-60	-538	-118
Integration costs	-5	9	n.m.	11	-2	-3	-15	-3	-2
Net income from investments	84	221	-62.1%	18	204	-655	-52	391	-307
PROFIT BEFORE TAX	2,771	2,505	+10.6%	1,293	1,212	47	688	1,959	812
Income tax for the period	-751	-419	+78.9%	-194	-226	-20	1,024	-577	-174
Profit (Loss) from non-current assets held for sale after tax	1,372	164	n.m.	68	96	59	65	65	1,307
PROFIT (LOSS) FOR THE PERIOD	3,393	2,249	+50.8%	1,168	1,082	86	1,777	1,447	1,946
Minorities	-87	-111	-21.4%	-55	-56	-56	-49	-59	-29
NET PROFIT ATTRIBUTABLE TO THE GROUP BEFORE PPA	3,305	2,138	+54.6%	1,113	1,025	30	1,728	1,388	1,917
Purchase Price Allocation effect	-64	-2	n.m.	-1	-1	-1	0	-1	-63
Goodwill impairment	0	0	n.m.	0	0	0	0	0	0
CONSOLIDATED PROFIT	3,241	2,136	+51.7%	1,112	1,024	29	1,727	1,387	1,854
INCOME STATEMENT RATIOS
Cost income ratio	53.5%	53.9%	-0.4 p.p.	53.6%	54.1%	54.0%	56.4%	52.8%	54.3%
Cost of Risk (LLP annualised on Avg Loans) in basis points	50	45	5	45	45	61	79	40	60
Tax rate	27.1%	16.7%	10.3 p.p.	15.0%	18.6%	43.8%	n.m.	29.5%	21.4%
VOLUMES
Customers Loans (excl. Repos)	432,158	420,518	+2.8%	412,787	420,518	429,481	430,774	429,252	432,158
Customer Depos (excl. Repos)	410,066	392,686	+4.4%	390,846	392,686	398,740	399,867	406,257	410,066
TFA*	767,281	751,013	+2.2%	747,592	751,013	763,379	742,217	760,165	767,281
o/w AUM	191,243	187,335	+2.1%	185,037	187,335	189,187	181,193	188,123	191,243
o/w AUC	172,924	178,928	-3.4%	181,427	178,928	183,006	167,913	170,770	172,924
Total RWA	387,139	360,690	+7.3%	353,261	360,690	362,611	370,180	371,739	387,139
OTHER FIGURES
FTEs (100%)	84,836	87,544	-3.1%	89,285	87,544	86,779	85,662	85,111	84,836
ROTE STATED	13.2%	8.7%	4.5 p.p.	8.9%	8.5%	0.2%	14.7%	11.5%	14.9%

Consolidated Income Statement

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

CONSOLIDATED INCOME STATEMENT

		1H		1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	2018	2018	2018	2018	2019	2019
Net interest	5,125	5,108	+0.3%	2,528	2,581	2,659	2,704	2,576	2,549
Dividends and other income from equity investments	321	353	-9.1%	184	169	111	208	167	154
Net fees and commissions	3,100	3,238	-4.3%	1,633	1,605	1,517	1,544	1,538	1,562
Net trading income	703	811	-13.3%	492	319	307	216	444	259
Net other expenses/income	40	103	-61.4%	62	41	10	29	43	-3
OPERATING INCOME	9,289	9,614	-3.4%	4,899	4,714	4,604	4,701	4,767	4,521
Payroll costs	-3,058	-3,186	-4.0%	-1,604	-1,582	-1,543	-1,571	-1,546	-1,512
Other administrative expenses	-1,530	-1,660	-7.8%	-846	-814	-770	-869	-780	-751
Recovery of expenses	264	279	-5.5%	135	143	141	136	132	132
Amortisation & depreciation	-557	-541	+3.0%	-269	-272	-276	-274	-277	-280
Operating costs	-4,881	-5,108	-4.4%	-2,584	-2,524	-2,449	-2,578	-2,471	-2,410
OPERATING PROFIT	4,407	4,505	-2.2%	2,315	2,190	2,155	2,123	2,296	2,111
Net write-downs of loans	-878	-483	+81.6%	-370	-114	-478	-732	-364	-514
NET OPERATING PROFIT	3,530	4,022	-12.2%	1,946	2,076	1,678	1,391	1,932	1,597
Other Charges & Provisions	-346	-1,155	-70.1%	-488	-667	-723	-306	-121	-225
o/w Systemic Charges	-641	-613	+4.6%	-445	-168	-132	-59	-523	-118
Integration costs	-5	9	n.m.	11	-2	-3	-15	-3	-2
Net income from investments	111	221	-50.0%	18	204	-655	-30	391	-280
PROFIT BEFORE TAX	3,290	3,097	+6.2%	1,486	1,611	296	1,041	2,199	1,091
Income tax for the period	-868	-595	+45.9%	-251	-345	-94	880	-628	-240
Profit (Loss) from non-current assets held for sale, after tax	1,372	164	n.m.	68	96	59	65	65	1,307
PROFIT (LOSS) FOR THE PERIOD	3,793	2,666	+42.3%	1,304	1,362	261	1,985	1,636	2,158
Minorities	-89	-111	-20.1%	-55	-56	-56	-49	-59	-30
NET PROFIT ATTRIBUTABLE TO THE GROUP BEFORE PPA	3,705	2,555	+45.0%	1,249	1,305	205	1,936	1,577	2,128
Purchase Price Allocation effect	-64	-2	n.m.	-1	-1	-1	0	-1	-63
Goodwill impairment	0	0	n.m.	0	0	0	0	0	0
CONSOLIDATED PROFIT	3,640	2,553	+42.6%	1,248	1,304	204	1,935	1,576	2,065
INCOME STATEMENT RATIOS
Cost income ratio	52.6%	53.1%	-0.6 p.p.	52.7%	53.5%	53.2%	54.8%	51.8%	53.3%
Cost of Risk (LLP annualised on Avg Loans) in basis points	38	22	16	35	10	43	64	31	44
Tax rate	26.4%	19.2%	7.2 p.p.	16.9%	21.4%	31.9%	n.m.	28.6%	22.0%
VOLUMES
Customers Loans (excl. Repos)	426,825	410,545	+4.0%	401,869	410,545	420,648	424,162	423,183	426,825
Customer Depos (excl. Repos)	409,520	391,857	+4.5%	390,023	391,857	397,991	399,340	405,775	409,520
Total RWA	371,899	345,464	+7.7%	336,303	345,464	348,644	357,959	360,044	371,899
OTHER FIGURES
FTEs (100%)	84,511	87,130	-3.0%	88,854	87,130	86,384	85,316	84,786	84,511
ROTE STATED	15.4%	10.9%	4.5 p.p.	10.5%	11.3%	1.8%	17.1%	13.5%	17.2%

1Q 2019	2Q 2019
2,576	2,549
167	154
1,538	1,562
444	259
43	-3
4,767	4,521
-1,546	-1,512
-780	-751
132	132
-277	-280
-2,471	-2,410
2,296	2,111
-364	-514
1,932	1,597
-121	-225
-523	-118
-3	-2
391	-280
2,199	1,091
-628	-240
ર્દ	1,307
1,636	2,158
-ਦਰੇ	-30
1,577	2,128
-J	-63
O	0
1,576	2,065
51.8%	53.3%
31	44
28.6%	22.0%
423,183	426,825
405,775	409,520
360,044	371,899
84,786	84,511
12 50%	17 20%

Consolidated Income Statement - Group Core

Consolidated Balance Sheet
1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
49,944	21,238	26,356	30,991	31,991	32,578
80,324	83,262	81,258	65,231	67,135	67,344
70,324	73,004	76,289	69,850	83,655	77,911
441,783	458,787	462,235	471,839	471,653	469,298
142,917	148,841	150,232	152,310	148,061	138,438
5,688	5,700	5,225	7,120	8,516	9,801
9,115	9,077	9,106	8,408	10,737	9,176
1,484	1,484	1,484	1,484	1,484	886
1,872	1,864	1,873	2,024	1,996	1,915
12,110	11,998	12,257	13,078	13,096	12,896
955	915	491	1,800	1,648	3,115
7,461	7,740	7,253	7,334	7,692	8,824
823,978	823,908	834,057	831,469	847,663	832,183
					132,695
					453,019
93,369	87,567	79,493	81,153	84,283	92,434
48,685	52,454	51,920	43,111	41,879	40,410
8,575	8,524	8,736	9,318	13,815	13,689
5,881	6,254	5,508	9,262	11,440	13,848
1,140	1,066	1,039	825	1,202	962
196	79	49	540	547	632
26,104	25,825	26,426	25,609	25,267	24,948
941	837	869	927	984	411
56,950	55,462	54,309	55,841	57,851	59,136
55,838	53,325	52,144	51,948	56,464	55,895
	2,136	2,165	3,892	1,387	3,241
	125,177 456,959 1,112	129,747 456,094	136,664 469,044	125,895 478,988	136,882 473,514

(mln Euro)

Shareholders' equity as at 31 December 2018	55,841
Equity instruments	992
Dividends and other allocations	-604
Exchange differences reserve(1)	283
Change in the valuation reserve relating to the financial assets and liabilities at fair value	224
Change in the valuation reserve relating to the actuarial gains/losses on defined benefit plans(2)	-495
Change in reserve related coupon on AT1 instruments	-135
Change in the valuation reserve of the companies accounted for using the equity method(3)	-126
Other changes	-85
Net profit (loss) for the period	3,241
Shareholders' equity as at 30 June 2019	59,136

Notes:

(1) This effect is mainly due to the positive impact of the Ruble for €275 million.

(2) Mainly due to discount rate negative impact partially offset by plan assets performance.

(3) The negative change in the valuation reserve of the companies accounted for using the equity method is due to negative impact of Turkish Lira for €87 million.

Shareholders' Equity attributable to the Group

	Asset Quality Group
LOANS TO CUSTOMERS
(mln Euro)	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
Gross Bad Loans	25,164	24,055	23,071	21,134	21,355	19,117
Writedowns	18,378	17,686	16,790	15,348	15,541	13,808
Coverage Ratio	73.0%	73.5%	72.8%	72.6%	72.8%	72.2%
Net Bad Loans	6,786	6,369	6,281	5,786	5,813	5,308
Gross Unlikely to pay	18,341	17,520	16,728	16,193	15,307	14,353
Writedowns	8,091	7,893	7,728	7,655	7,385	6,875
Coverage Ratio	44.1%	45.1%	46.2%	47.3%	48.2%	47.9%
Net Unlikely to pay	10,250	9,627	8,999	8,538	7,922	7,478
Gross Past-due loans	1,036	1,000	1,005	839	899	946
Writedowns	376	339	311	262	267	294
Coverage Ratio	36.3%	33.9%	30.9%	31.3%	29.7%	31.1%
Net Past-due loans	660	661	694	576	632	651
GROSS NON PERFORMING EXPOSURES	44,541	42,575	40,803	38,167	37,560	34,416
Writedowns	26,845	25,918	24,829	23,266	23,193	20,977
Coverage Ratio	60.3%	60.9%	60.9%	61.0%	61.7%	61.0%
NET NON PERFORMING EXPOSURES	17,696	16,657	15,974	14,900	14,367	13,438
GROSS PERFORMING LOANS	424,511	442,012	446,125	456,517	456,785	458,497
Writedowns	2,739	2,511	2,591	2,523	2,522	2,637
Coverage Ratio	0.6%	0.6%	0.6%	0.6%	0.6%	0.6%
NET PERFORMING LOANS	421,772	439,501	443,534	453,994	454,263	455,860
	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
Gross Bad Loans ratio	5.4%	5.0%	4.7%	4.3%	4.3%	3.9%
Net Bad Loans ratio	1.5%	1.4%	1.4%	1.2%	1.2%	1.1%
Gross Unlikely to pay ratio	3.9%	3.6%	3.4%	3.3%	3.1%	2.9%
Net Unlikely to pay ratio	2.3%	2.1%	2.0%	1.8%	1.7%	1.6%
Gross Past-due loans ratio	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%
Net Past-due loans ratio	0.2%	0.1%	0.2%	0.1%	0.1%	0.1%
GROSS NPE Ratio	9.5%	8.8%	8.4%	7.7%	7.6%	7.0%
NET NPE Ratio	4.0%	3.7%	3.5%	3.2%	3.1%	2.9%

20 2019
19,117
13,808
72.2%
5,308
14,353
6,875
47.9%
7,478
946
294
31.1%
651

1	0.00
	0

458,497

2	6	3	7

20 2019
3.9%
1.1%
2.9%
1.6%
0.2%
0.1%
7.0%
2.9%

LOANS TO CUSTOMERS

(mln Euro)	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
Gross Bad Loans	10,668	10,427	10,063	9,500	9,896	9,067
Writedowns	7,707	7,473	7,070	6,720	6,983	6,312
Coverage Ratio	72.2%	71.7%	70.3%	70.7%	70.6%	69.6%
Net Bad Loans	2,961	2,953	2,993	2,780	2,913	2,755
Gross Unlikely to pay	10,082	9,759	9,308	9,353	9,052	8,751
Writedowns	4,414	4,374	4,265	4,395	4,276	4,038
Coverage Ratio	43.8%	44.8%	45.8%	47.0%	47.2%	46.1%
Net Unlikely to pay	5,667	5,386	5,042	4,958	4,776	4,714
Gross Past-due loans	905	883	889	800	867	918
Writedowns	329	298	271	246	253	281
Coverage Ratio	36.4%	33.8%	30.5%	30.7%	29.2%	30.7%
Net Past-due loans	576	585	618	554	614	637
GROSS NON PERFORMING EXPOSURES	21,656	21,069	20,260	19,654	19,815	18,737
Writedowns	12,451	12,145	11,607	11,361	11,513	10,631
Coverage Ratio	57.5%	57.6%	57.3%	57.8%	58.1%	56.7%
NET NON PERFORMING EXPOSURES	9,205	8,923	8,653	8,293	8,302	8,106
GROSS PERFORMING LOANS	421,889	439,611	444,491	456,512	456,781	458,497
Writedowns	2,544	2,349	2,470	2,523	2,522	2,637
Coverage Ratio	0.6%	0.5%	0.6%	0.6%	0.6%	0.6%
NET PERFORMING LOANS	419,345	437,262	442,022	453,990	454,260	455,860
	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
Gross Bad Loans ratio	2.4%	2.3%	2.2%	2.0%	2.1%	1.9%
Net Bad Loans ratio	0.7%	0.7%	0.7%	0.6%	0.6%	0.6%
Gross Unlikely to pay ratio	2.3%	2.1%	2.0%	2.0%	1.9%	1.8%
Net Unlikely to pay ratio	1.3%	1.2%	1.1%	1.1%	1.0%	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	4.9%	4.6%	4.4%	4.1%	4.2%	3.9%
NET NPE Ratio	2.1%	2.0%	1.9%	1.8%	1.8%	1.7%

20 2019
9,067
6,312
69.6%
2,755
8,751
4.038
46.1%
4,714
918
281
30.7%

18,737
10.631
56.7%
8.106

20 2019
1.9%
0.6%
1.8%
1.0%
0.2%
0.1%
3.9%
1.7%

Asset Quality - Group Core

Asset Quality - Non Core
LOANS TO CUSTOMERS
(mln Euro)	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
Gross Bad Loans	14,495	13,629	13,007	11,634	11,459	10,049
Writedowns	10,671	10,213	9,720	8,628	8,558	7,496
Coverage Ratio	73.6%	74.9%	74.7%	74.2%	74.7%	74.6%
Net Bad Loans	3,824	3,416	3,288	3,006	2,901	2,553
Gross Unlikely to pay	8,260	7,761	7,420	6,840	6,255	5,602
Writedowns	3,677	3,519	3,463	3,260	3,108	2,837
Coverage Ratio	44.5%	45.3%	46.7%	47.7%	49.7%	50.6%
Net Unlikely to pay	4,583	4,242	3,957	3,580	3,147	2,765
Gross Past-due loans	131	117	116	38	32	28
Writedowns	47	41	40	16	14	13
Coverage Ratio	36.0%	35.1%	34.4%	42.8%	44.1%	45.9%
Net Past-due loans	84	76	76	22	18	15
GROSS NON PERFORMING EXPOSURES	22,885	21,507	20,543	18,513	17,746	15,679
Writedowns	14,394	13,773	13,223	11,905	11,681	10,346
Coverage Ratio	62.9%	64.0%	64.4%	64.3%	65.8%	66.0%
NET NON PERFORMING EXPOSURES	8,491	7,734	7,320	6,608	6,065	5,333
GROSS PERFORMING LOANS	2,622	2,401	1,634	4	4	0
Writedowns	195	162	121	0	0	0
Coverage Ratio	7.4%	6.7%	7.4%	0.4%	0.4%	n.m.
NET PERFORMING LOANS	2,427	2,240	1,512	4	4	0
	1Q	2Q	3Q	4Q	1Q	2Q
	2018	2018	2018	2018	2019	2019
Gross Bad Loans ratio	56.8%	57.0%	58.7%	62.8%	64.6%	64.1%
Net Bad Loans ratio	35.0%	34.3%	37.2%	45.5%	47.8%	47.9%
Gross Unlikely to pay ratio	32.4%	32.5%	33.5%	36.9%	35.2%	35.7%
Net Unlikely to pay ratio	42.0%	42.5%	44.8%	54.1%	51.8%	51.8%
Gross Past-due loans ratio	0.5%	0.5%	0.5%	0.2%	0.2%	0.2%
Net Past-due loans ratio	0.8%	0.8%	0.9%	0.3%	0.3%	0.3%
GROSS NPE Ratio	89.7%	90.0%	92.6%	100.0%	100.0%	100.0%
NET NPE Ratio	77.8%	77.5%	82.9%	99.9%	99.9%	100.0%

20 2019
10,049
7,496
74.6%
2,553
5,602
2,837
50.6%
2,765
28
13
45.9%
15
15,679
10,346
66.0%
5,333
O
0
n.m.
O

20
2019
64.1%
47.9%
35.7%
51.8%
0.2% 0.3%
100.0%
100.0%

Asset Quality by Division
LOANS TO CUSTOMERS
(mln Euro)	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
Commercial Banking Italy
Gross Non Performing Exposures	9,632	9,623	9,241	8,680	8,735	8,322
Net Non Performing Exposures	4,334	4,281	4,149	3,862	3,819	3,776
NPE Coverage Ratio	55.0%	55.5%	55.1%	55.5%	56.3%	54.6%
Gross Customer Loans	143,841	147,881	149,659	151,688	149,563	149,641
Net Customer Loans	137,482	141,561	143,555	145,665	143,466	143,902
Gross NPE Ratio	6.7%	6.5%	6.2%	5.7%	5.8%	5.6%
Net NPE Ratio	3.2%	3.0%	2.9%	2.7%	2.7%	2.6%
Commercial Banking Germany
Gross Non Performing Exposures	1,858	1,793	1,656	1,570	1,611	1,561
Net Non Performing Exposures	741	889	886	805	819	840
NPE Coverage Ratio	60.1%	50.4%	46.5%	48.7%	49.1%	46.2%
Gross Customer Loans	83,716	84,363	85,937	84,981	87,314	88,757
Net Customer Loans	82,417	83,265	84,937	83,982	86,282	87,793
Gross NPE Ratio	2.2%	2.1%	1.9%	1.8%	1.8%	1.8%
Net NPE Ratio	0.9%	1.1%	1.0%	1.0%	0.9%	1.0%
Commercial Banking Austria
Gross Non Performing Exposures	2,018	1,979	1,881	1,843	1,853	1,852
Net Non Performing Exposures	872	853	813	823	856	874
NPE Coverage Ratio	56.8%	56.9%	56.8%	55.3%	53.8%	52.8%
Gross Customer Loans	46,722	47,092	46,683	46,938	46,388	46,577
Net Customer Loans	45,159	45,583	45,242	45,586	45,061	45,273
Gross NPE Ratio	4.3%	4.2%	4.0%	3.9%	4.0%	4.0%
Net NPE Ratio	1.9%	1.9%	1.8%	1.8%	1.9%	1.9%
CIB
Gross Non Performing Exposures	3,094	2,848	2,954	3,065	3,107	3,059
Net Non Performing Exposures	1,518	1,241	1,320	1,303	1,323	1,236
NPE Coverage Ratio	50.9%	56.4%	55.3%	57.5%	57.4%	59.6%
Gross Customer Loans	106,387	117,275	115,705	124,502	124,468	122,651
Net Customer Loans	104,526	115,411	113,779	122,525	122,457	120,576
Gross NPE Ratio	2.9%	2.4%	2.6%	2.5%	2.5%	2.5%
Net NPE Ratio	1.5%	1.1%	1.2%	1.1%	1.1%	1.0%
CEE
Gross Non Performing Exposures	4,999	4,759	4,455	4,423	4,494	3,928
Net Non Performing Exposures	1,706	1,622	1,443	1,464	1,476	1,370
NPE Coverage Ratio	65.9%	65.9%	67.6%	66.9%	67.1%	65.1%
Gross Customer Loans	64,807	65,668	68,032	69,309	70,236	71,061
Net Customer Loans	60,917	61,985	64,464	65,825	66,685	67,872
Gross NPE Ratio	7.7%	7.2%	6.5%	6.4%	6.4%	5.5%
Net NPE Ratio	2.8%	2.6%	2.2%	2.2%	2.2%	2.0%

10

GROUP CAPITAL STRUCTURE

CAPITAL RATIOS

	Basel 3
	1Q	2Q	3Q	4Q	1Q	2Q	Change %
(mln Euro)	2018	2018	2018	2018	2019	2019	q/q	y/y
Common Equity Tier I Capital Transitional (*)	46,379	45,330	44,142	44,903	45,555	46,748	+2.6%	+3.1%
Tier I Capital Transitional	51,976	50,923	49,734	50,488	51,767	52,772	+1.9%	+3.6%
Total Capital Transitional	60,499	59,240	57,904	58,476	60,815	62,757	+3.2%	+5.9%
Total RWA	353,261	360,690	362,611	370,180	371,739	387,139	+4.1%	+7.3%
Credit Risk	306,032	313,323	316,191	325,615	327,789	343,313	+4.7%	+9.6%
Market Risk	15,060	16,088	15,495	12,059	11,456	11,481	+0.2%	-28.6%
Operational Risk	32,169	31,280	30,925	32,506	32,494	32,345	-0.5%	+3.4%

	1Q	2Q	3Q	4Q	1Q	2Q	Delta
%	2018	2018	2018	2018	2019	2019	q/q	y/y
Common Equity Tier I Capital Ratio Transitional	13.13%	12.57%	12.17%	12.13%	12.25%	12.08%	-18bps	-49bps
Tier I Capital Ratio Transitional	14.71%	14.12%	13.72%	13.64%	13.93%	13.63%	-29bps	-49bps
Total Capital Ratio Transitional	17.13%	16.42%	15.97%	15.80%	16.36%	16.21%	-15bps	-21bps

Capital Position

Delta

-Touns	-490ps
-29bbs	-49bps
-15bbs	-21bps

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" and B.4 "Market Risk" of Pillar III "Capital Adequacy" table. Operational Risk RWA amount includes RWA equivalent to points B.5 "Operational risk" and part of B.6 "Other calculation elements" related to Operational Risk of Pillar III "Capital Adequacy" table.

Change %

(*) starting from 2019, CET1 Transitional would be equal to CET1 Fully Loaded

(mln Euro)		1H		1Q	2Q	3Q	4Q	1Q	2Q
	2019	2018	%	2018	2018	2018	2018	2019	2019
Net interest	1,702	1,773	-4.0%	901	872	862	863	859	844
Dividends and other income from equity investments	50	40	+26.6%	23	17	16	21	29	22
Net fees and commissions	1,832	1,901	-3.6%	953	948	871	863	914	918
Net trading income	21	26	-19.1%	6	20	16	9	12	8
Net other expenses/income	-10	-42	-75.2%	-21	-21	-26	-29	-20	10
OPERATING INCOME	3,595	3,697	-2.8%	1,862	1,835	1,739	1,727	1,794	1,802
Payroll costs	-1,094	-1,170	-6.5%	-592	-578	-563	-571	-549	-545
Other administrative expenses	-971	-1,038	-6.4%	-519	-519	-511	-513	-486	-485
Recovery of expenses	208	212	-2.2%	106	107	105	105	103	105
Amortisation & depreciation	-45	-43	+2.7%	-21	-22	-22	-25	-22	-23
Operating costs	-1,902	-2,039	-6.7%	-1,026	-1,012	-991	-1,004	-953	-949
OPERATING PROFIT	1,693	1,658	+2.1%	835	823	748	724	840	853
Net write-downs of loans	-524	-431	+21.5%	-220	-211	-317	-298	-207	-316
NET OPERATING PROFIT	1,169	1,227	-4.7%	616	612	431	425	633	537
Other Charges & Provisions	-149	-158	-5.4%	-79	-79	-76	-80	-78	-71
o/w Systemic Charges	-56	-47	+17.8%	-36	-11	-68	-13	-57	1
Integration costs	-1	-2	-25.0%	0	-1	0	0	-1	-1
Net income from investments	-83	0	n.m.	0	0	113	-2	-6	-78
PROFIT BEFORE TAX	936	1,068	-12.4%	537	531	467	343	549	387
CONSOLIDATED PROFIT	642	746	-13.9%	382	364	369	207	398	244
INCOME STATEMENT RATIOS
Cost income ratio	52.9%	55.1%	-2.2 p.p.	55.1%	55.2%	57.0%	58.1%	53.2%	52.7%
Cost of Risk (LLP annualised on Avg Loans) in basis points	73	62	10	64	61	89	83	57	88
VOLUMES
Customers Loans (excl. Repos and IC)	143,879	141,536	+1.7%	137,457	141,536	143,530	145,641	143,441	143,879
Customer Depos (excl. Repos and IC)	151,162	144,971	+4.3%	142,556	144,971	145,420	146,236	147,641	151,162
Total RWA	102,731	87,979	+16.8%	84,800	87,979	88,674	95,753	93,610	102,731
OTHER FIGURES
FTEs (100%)	29,098	30,810	-5.6%	31,742	30,810	30,211	29,582	29,302	29,098
ROAC	10.5%	13.9%	-3.4 p.p.	14.3%	13.5%	13.4%	7.2%	13.4%	7.7%

10 2019	2Q 2019
859	844
29	22
914	ਰ18
12	യ
-20	10
1,794	1,802
-549	-545
-486	-485
103	105
-22	-23
-953	-949
840	853
-207	-316
633	537
-78	-71
-57	1
-1	-1
-6	-78
549	387
398	244
53.2%	52.7%
57	88
143,441	143,879
147,641	151,162
93,610	102,731
29,302	29,098
13.4%	7.7%

Commercial Bank - Italy

		1H		1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	2018	2018	2018	2018	2019	2019
Net interest	759	738	+2.8%	358	380	380	401	378	381
Dividends and other income from equity investments	2	0	n.m.	0	0	0	-1	2	0
Net fees and commissions	360	382	-5.7%	202	179	166	173	185	175
Net trading income	11	51	-78.0%	29	22	25	17	6	6
Net other expenses/income	46	56	-18.1%	27	30	26	32	22	24
OPERATING INCOME	1,178	1,227	-4.0%	616	611	596	622	592	586
Payroll costs	-471	-483	-2.4%	-244	-239	-238	-244	-237	-234
Other administrative expenses	-338	-347	-2.8%	-179	-168	-159	-168	-177	-161
Recovery of expenses	4	9	-51.0%	3	6	2	2	2	2
Amortisation & depreciation	-12	-20	-40.3%	-10	-10	-9	-10	-6	-6
Operating costs	-816	-841	-3.0%	-431	-410	-403	-419	-418	-399
OPERATING PROFIT	361	386	-6.4%	186	201	193	203	174	187
Net write-downs of loans	-26	-62	-58.7%	-27	-35	23	-106	-21	-4
NET OPERATING PROFIT	336	324	+3.6%	158	166	216	97	153	183
Other Charges & Provisions	41	-157	n.m.	-39	-119	-185	-19	52	-10
o/w Systemic Charges	-51	-54	-5.3%	-39	-15	-8	1	-40	-11
Integration costs	0	0	-35.2%	0	0	-1	-23	0	0
Net income from investments	388	111	n.m.	1	110	20	2	366	23
PROFIT BEFORE TAX	765	278	n.m.	120	158	50	58	570	195
CONSOLIDATED PROFIT	517	148	n.m.	82	66	56	175	370	146
INCOME STATEMENT RATIOS
Cost income ratio	69.3%	68.5%	+0.8 p.p.	69.9%	67.2%	67.6%	67.4%	70.6%	68.0%
Cost of Risk (LLP annualised on Avg Loans) in basis points	6	15	-9	13	17	-11	50	10	2
VOLUMES
Customers Loans (excl. Repos and IC)	87,596	83,049	+5.5%	82,220	83,049	84,711	83,741	86,069	87,596
Customer Depos (excl. Repos and IC)	89,668	89,176	+0.6%	88,963	89,176	87,641	91,694	90,068	89,668
Total RWA	36,115	34,773	+3.9%	34,754	34,773	36,290	36,642	37,198	36,115
OTHER FIGURES
FTEs (100%)	9,047	9,303	-2.7%	9,630	9,303	9,284	9,167	9,067	9,047
ROAC	22.3%	6.6%	+15.7 p.p.	7.3%	5.8%	4.8%	14.8%	31.9%	12.6%

1Q 2019	2Q 2019
378	381
2	O
185	175
റ	റ
22	24
592	586
-237	-234
-177	-161
2	2
-6	-6
-418	-399
174	187
-21	-4
153	183
52	-10
-40	-11
o	o
366	23
570	। ਰੇਦ
370	146
70.6%	68.0%
10	2
86,069	87,596
90,068	89,668
37,198	36,115
9,067	9,047
31.9%	12.6%

Commercial Bank - Germany

INCOME STATEMENT
(mln Euro)	2019	1H 2018	y/y %	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
Net interest	345	335	+3.1%	169	166	178	172	170	175
Dividends and other income from equity investments	76	67	+12.0%	29	39	47	41	30	46
Net fees and commissions	294	311	-5.5%	155	156	149	154	145	149
Net trading income	10	48	-80.0%	14	34	19	2	-1	10
Net other expenses/income	20	21	-2.2%	13	8	10	6	11	9
OPERATING INCOME	744	782	-4.8%	379	403	402	375	356	389
Payroll costs	-262	-285	-8.2%	-142	-143	-133	-144	-143	-119
Other administrative expenses	-218	-231	-5.8%	-121	-110	-104	-112	-111	-106
Recovery of expenses	0	0	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-3	-7	-55.1%	-3	-4	-4	-5	-2	-1
Operating costs	-483	-523	-7.8%	-267	-257	-241	-260	-257	-226
OPERATING PROFIT	262	258	+1.3%	112	146	162	115	99	163
Net write-downs of loans	10	55	-81.9%	38	16	-23	-7	8	2
NET OPERATING PROFIT	272	313	-13.2%	151	162	138	108	107	165
Other Charges & Provisions	-60	-93	-35.2%	-86	-7	-21	-7	-51	-9
o/w Systemic Charges	-93	-92	+1.0%	-86	-6	-4	-3	-90	-4
Integration costs	1	1	-16.6%	0	1	0	-2	0	1
Net income from investments	17	-5	n.m.	-3	-3	5	-2	6	11
PROFIT BEFORE TAX	230	216	+6.4%	62	153	122	98	62	167
CONSOLIDATED PROFIT	233	206	+12.9%	48	158	119	97	68	165
INCOME STATEMENT RATIOS
Cost income ratio	64.8%	66.9%	-2.1 p.p.	70.4%	63.7%	59.8%	69.4%	72.2%	58.1%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-4	-24	20	-34	-14	21	6	-7	-2
VOLUMES
Customers Loans (excl. Repos and IC)	44,615	44,410	+0.5%	43,868	44,410	44,313	44,808	44,325	44,615
Customer Depos (excl. Repos and IC)	47,496	47,818	-0.7%	47,002	47,818	46,641	47,380	47,488	47,496
Total RWA	23,478	21,363	+9.9%	20,909	21,363	21,644	23,496	23,777	23,478
OTHER FIGURES
FTEs (100%)	4,845	4,939	-1.9%	4,984	4,939	4,894	4,873	4,833	4,845
ROAC	15.9%	15.3%	+0.6 p.p.	6.9%	23.8%	17.9%	14.2%	9.2%	22.6%

Commercial Bank - Austria

1Q 2019	2Q 2019
170	175
30	46
145	149
-1	10
11	ு
356	389
-143	-119
-111	-106
o	O
-2	-1
-257	-226
ਰੇਰੇ	163
8	2
107	ਹਵੰ
-51	-9
-90	-4
O	।
റ	ਹ ਹ
62	167
୧୫	165
72.2%	58.1%
-7	-2
44,325	44,615
47,488	47,496
23,777	23,478
4,833	4,845

		1H		1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	2018	2018	2018	2018	2019	2019
Net interest	1,096	1,121	-2.2%	564	557	586	582	548	548
Dividends and other income from equity investments	1	3	-83.1%	3	0	5	29	0	0
Net fees and commissions	233	296	-21.4%	156	140	148	151	105	128
Net trading income	524	489	+7.4%	337	151	166	135	332	193
Net other expenses/income	36	51	-29.8%	45	6	6	31	37	-1
OPERATING INCOME	1,890	1,960	-3.6%	1,104	856	910	929	1,022	868
Payroll costs	-301	-290	+3.6%	-143	-147	-148	-152	-153	-148
Other administrative expenses	-461	-485	-4.8%	-254	-231	-222	-258	-233	-229
Recovery of expenses	1	1	+55.4%	0	0	2	1	0	1
Amortisation & depreciation	-7	-2	n.m.	-1	-1	-1	-1	-4	-3
Operating costs	-768	-777	-1.2%	-397	-379	-369	-411	-389	-379
OPERATING PROFIT	1,122	1,183	-5.2%	707	477	541	518	633	489
Net write-downs of loans	-149	161	n.m.	-49	210	-81	-157	-43	-106
NET OPERATING PROFIT	973	1,345	-27.7%	658	687	461	361	590	382
Other Charges & Provisions	161	-413	n.m.	-109	-304	-355	-49	169	-8
o/w Systemic Charges	-134	-129	+3.6%	-109	-21	-4	-2	-124	-10
Integration costs	0	0	-59.0%	0	0	-1	0	-1	1
Net income from investments	-232	9	n.m.	14	-4	36	-26	12	-244
PROFIT BEFORE TAX	902	941	-4.2%	563	378	141	287	770	132
CONSOLIDATED PROFIT	592	563	+5.2%	382	181	98	236	492	100
INCOME STATEMENT RATIOS
Cost income ratio	40.6%	39.6%	+1.0 p.p.	36.0%	44.3%	40.5%	44.2%	38.0%	43.7%
Cost of Risk (LLP annualised on Avg Loans) in basis points	24	-30	55	19	-76	28	53	14	35
VOLUMES
Customers Loans (excl. Repos and IC)	80,335	76,599	+4.9%	74,828	76,599	80,616	81,354	80,141	80,335
Customer Depos (excl. Repos and IC)	47,928	44,222	+8.4%	46,680	44,222	52,792	45,301	49,036	47,928
Total RWA	83,896	80,528	+4.2%	75,917	80,528	81,687	81,598	79,340	83,896
OTHER FIGURES
FTEs (100%)	3,212	3,270	-1.8%	3,205	3,270	3,257	3,234	3,203	3,212
ROAC	11.6%	11.5%	+0.0 p.p.	15.9%	7.3%	3.8%	9.2%	19.4%	3.9%

1Q 2019	2Q 2019
548	548
O	O
105	128
332	ਹਰਤ
37	-J
1,022	868
-153	-148
-233	-229
O	1
-4	-3
-389	-379
633	489
-43	-106
590	382
169	-8
-124	-10
-1	।
12	-244
770	132
492	100
38.0%	43.7%
14	35
80,141	80,335
49,036	47,928
79,340	83,896
3,203	3,212
19.4%	3.9%

CIB

		CIB Division - Additional Disclosure (managerial figures)
(mln Euro)	2019	1H 2018	y/y %	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
TOTAL REVENUES CIB	1,890	1,960	-3.6%	1,104	856	910	929	1,022	868
Financing & Advisory (F&A)	646	766	-15.7%	429	337	362	412	352	293
o/w Italy	233	279	-16.7%	159	120	125	181	118	114
o/w Germany	326	387	-15.7%	223	164	191	183	190	137
o/w Austria	92	104	-11.7%	49	56	49	49	47	45
Markets	996	941	5.9%	557	384	427	379	547	449
Global Transaction Banking (GTB)	253	237	6.8%	115	122	121	128	128	126
Other	-5	16	n.m.	3	14	0	10	-5	-1
TOTAL COSTS CIB	-768	-777	-1.2%	-397	-379	-369	-411	-389	-379
Financing & Advisory (F&A)	-249	-249	-0.1%	-125	-124	-120	-134	-126	-123
o/w Italy	-66	-66	0.4%	-33	-33	-31	-38	-32	-34
o/w Germany	-156	-155	0.8%	-78	-77	-78	-81	-81	-76
o/w Austria	-32	-33	-3.5%	-16	-17	-15	-17	-16	-16
Markets	-402	-408	-1.5%	-213	-195	-193	-209	-205	-198
Global Transaction Banking (GTB)	-101	-100	1.5%	-50	-50	-49	-62	-50	-52
Other	-15	-19	-21.8%	-10	-10	-7	-6	-8	-7
TOTAL LOAN LOSS PROVISIONS CIB	-149	161	n.m.	-49	210	-81	-157	-43	-106
Financing & Advisory (F&A)	-134	169	n.m.	-49	218	-83	-117	-33	-101
o/w Italy	-85	-22	n.m.	-17	-5	-65	-114	-29	-56
o/w Germany	-52	159	n.m.	-34	193	-17	-12	-5	-46
o/w Austria	3	32	-91.8%	2	30	-1	10	1	2
Markets	-18	-10	81.2%	0	-10	3	-9	-15	-3
Global Transaction Banking (GTB)	2	2	21.8%	0	2	0	-31	5	-2
Other	0	0	-29.3%	0	0	0	0	0	0
TOTAL NET OPERATING PROFIT CIB	973	1,345	-27.7%	658	687	461	361	590	382
Financing & Advisory (F&A)	263	686	-61.7%	256	430	158	162	193	70
o/w Italy	81	191	-57.6%	110	82	29	29	57	24
o/w Germany	119	391	-69.7%	112	279	96	90	104	15
o/w Austria	63	104	-39.3%	34	70	34	42	32	31
Markets	576	523	10.2%	344	179	237	161	328	249
Global Transaction Banking (GTB)	154	139	10.9%	65	74	72	35	83	72
Other	-21	-4	n.m.	-7	4	-7	4	-12	-8
RWA CIB	83,896	80,528	4.2%	75,917	80,528	81,687	81,598	79,340	83,896
Financing & Advisory (F&A)	46,528	40,158	15.9%	39,741	40,158	43,223	45,269	44,880	46,528
o/w Italy	20,108	16,960	18.6%	15,651	16,960	19,437	19,450	18,258	20,108
o/w Germany	20,349	17,238	18.1%	17,737	17,238	17,630	19,192	20,071	20,349
o/w Austria	6,071	5,961	1.8%	6,354	5,961	6,157	6,627	6,552	6,071
Markets	28,842	32,301	-10.7%	27,955	32,301	29,886	27,038	25,732	28,842
Global Transaction Banking (GTB)	8,213	7,668	7.1%	7,730	7,668	8,189	8,910	8,397	8,213
Other	313	400	-21.9%	490	400	388	380	330	313

		1H		1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	2018	2018	2018	2018	2019	2019
Net interest	-140	-175	-20.1%	-114	-60	-25	-28	-57	-82
Dividends and other income from equity investments	41	47	-12.9%	24	23	14	22	25	16
Net fees and commissions	-24	-51	-53.0%	-28	-23	-21	-10	-15	-9
Net trading income	-71	-4	n.m.	-15	11	21	-10	-8	-63
Net other expenses/income	-68	5	n.m.	-9	14	-11	-19	-15	-53
OPERATING INCOME	-261	-178	+46.6%	-142	-36	-22	-45	-70	-191
Payroll costs	-539	-585	-7.8%	-296	-289	-269	-272	-272	-267
Other administrative expenses	747	739	+1.1%	372	367	371	349	366	381
Recovery of expenses	27	35	-22.9%	15	19	19	15	14	13
Amortisation & depreciation	-397	-381	+4.1%	-189	-192	-195	-181	-198	-199
Operating costs	-162	-192	-15.6%	-97	-95	-73	-89	-90	-72
OPERATING PROFIT	-424	-371	+14.3%	-239	-131	-96	-134	-160	-263
Net write-downs of loans	-2	-1	n.m.	-7	6	12	-4	0	-2
NET OPERATING PROFIT	-426	-371	+14.6%	-246	-125	-83	-138	-160	-265
Other Charges & Provisions	-194	-194	-0.2%	-50	-144	-72	-113	-78	-115
o/w Systemic Charges	-167	-152	+9.5%	-51	-101	-36	-28	-80	-87
Integration costs	-2	11	n.m.	12	-1	-1	13	-1	-1
Net income from investments	20	103	-80.1%	3	99	-841	21	13	8
PROFIT BEFORE TAX	-600	-452	+32.9%	-281	-171	-997	-217	-227	-373
CONSOLIDATED PROFIT	781	7	n.m.	-60	66	-862	812	-144	925
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)	2,609	3,192	-18.3%	2,827	3,192	3,303	3,274	2,753	2,609
Customer Depos (excl. Repos and IC)	2,635	3,284	-19.8%	3,048	3,284	2,971	2,985	2,675	2,635
Total RWA	35,071	33,707	+4.0%	32,258	33,707	34,421	33,898	36,020	35,071
OTHER FIGURES
FTEs (100%)	14,026	14,820	-5.4%	15,266	14,820	14,474	14,247	14,180	14,026
o/w COO FTEs	11,292	12,271	-8.0%	12,675	12,271	11,897	11,661	11,443	11,292

1Q 2019	2Q 2019
-57	-82
25	16
-15	-9
-8	-63
-15	-23
-70	-191
-272	-267
366	381
14	13
-198	-199
-90	-72
-160	-263
O	-2
-160	-265
-78	-115
-80	-87
-1	-1
13	ന
-227	-373
-144	925
n.m.	n.m.
n.m.	n.m.
2,753	2,609
2,675	2,635
36,020	35,071
14,180	14,026
11,443	11,292

GCC

		1H		y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	1,361	1,316	+3.4%	+4.4%	650	666	678	714	678	683
Dividends and other income from equity investments	152	196	-22.4%	-3.4%	106	90	30	96	82	71
Net fees and commissions	405	399	+1.6%	+2.5%	195	204	205	213	204	202
Net trading income	208	202	+2.9%	+3.0%	121	81	61	62	103	105
Net other expenses/income	16	12	+31.1%	+31.0%	8	4	6	8	7	9
OPERATING INCOME	2,143	2,126	+0.8%	+3.3%	1,080	1,045	980	1,093	1,074	1,069
Payroll costs	-391	-373	+4.9%	+5.8%	-187	-186	-194	-189	-193	-199
Other administrative expenses	-289	-298	-3.1%	-2.2%	-145	-153	-145	-167	-138	-151
Recovery of expenses	24	22	+5.6%	+7.7%	11	11	13	13	12	12
Amortisation & depreciation	-94	-87	+7.5%	+8.7%	-45	-43	-46	-52	-46	-48
Operating costs	-750	-736	+1.9%	+2.9%	-366	-370	-372	-395	-365	-386
OPERATING PROFIT	1,393	1,390	+0.2%	+3.5%	715	675	607	698	710	683
Net write-downs of loans	-187	-206	-9.1%	-7.7%	-105	-100	-91	-160	-100	-87
NET OPERATING PROFIT	1,205	1,184	+1.8%	+5.5%	609	575	516	538	609	596
Other Charges & Provisions	-145	-141	+3.2%	+3.9%	-126	-15	-14	-38	-134	-11
o/w Systemic Charges	-140	-138	+1.8%	+2.7%	-124	-13	-14	-14	-133	-7
Integration costs	-2	0	n.m.	n.m.	0	0	0	-5	0	-2
Net income from investments	0	4	n.m.	n.m.	2	2	12	-22	0	-1
PROFIT BEFORE TAX	1,058	1,046	+1.1%	+5.2%	486	561	513	472	475	583
CONSOLIDATED PROFIT	876	882	-0.7%	+4.0%	413	469	425	407	391	484
INCOME STATEMENT RATIOS
Cost income ratio	35.0%	34.6%	+0.4 p.p.		33.8%	35.4%	38.0%	36.2%	33.9%	36.1%
Cost of Risk (LLP annualised on Avg Loans) in basis points	56	67	-11		69	65	58	98	61	52
VOLUMES
Customers Loans (excl. Repos and IC)	67,791	61,759	+9.8%		60,669	61,759	64,176	65,344	66,454	67,791

Cost income ratio	35.0%	34.6%	+0.4 p.p.	33.8%	35.4%	38.0%	36.2%	33.9%	36.1%
Cost of Risk (LLP annualised on Avg Loans) in basis points	56	67	-11	69	65	58	98	61	52
VOLUMES
Customers Loans (excl. Repos and IC)	67,791	61,759	+9.8%	60,669	61,759	64,176	65,344	66,454	67,791
Customer Depos (excl. Repos and IC)	70,632	62,387	+13.2%	61,774	62,387	62,525	65,744	68,867	70,632
Total RWA	90,608	87,114	+4.0%	87,667	87,114	85,929	86,572	90,098	90,608
OTHER FIGURES
FTEs (100%)	24,281	23,988	+1.2%	24,027	23,988	24,263	24,214	24,200	24,281
ROAC	15.6%	15.9%	-0.3 p.p.	14.9%	16.9%	15.6%	15.0%	14.1%	17.1%

OTHER FIGURES

N.B. CEE results include CEE Countries results and UniCredit S.p.A. CEE operations. Yapi contributes with the net profit attributable to UCG only to the line "Dividends and equity investments income".

213	204	202
62	103	105
8	7	ு
1,093	1,074	1,069
-189	-193	-199
-167	-138	-151
13	12	12
-52	-46	-48
-395	-365	-386
698	710	683
-160	-100	-87
538	609	596
-38	-134	-11
-14	-133	-7
-5	o	-2
-22	O	-1
472	475	583
407	391	484

CEE Division

1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
284	285	-0.2%	+2.3%	148	137	130	138	140	144
8	8	-2.9%	-2.9%	4	5	3	2	3	5
59	60	-0.3%	+2.2%	28	32	29	30	28	31
-17	16	n.m.	n.m.	26	-10	-19	-12	-7	-11
1	3	-52.9%	-51.7%	2	1	0	1	1	1
336	371	-9.6%	-7.4%	207	165	143	159	166	170
-69	-67	+3.1%	+5.7%	-34	-32	-32	-30	-34	-35
-33	-33	-1.5%	+1.0%	-16	-18	-17	-17	-16	-16
0	0	n.m.	n.m.	0	0	0	0	0	0
-22	-20	+7.7%	+10.4%	-11	-9	-10	-11	-11	-11
-124	-120	+2.6%	+5.2%	-62	-59	-59	-59	-61	-63
212	251	-15.5%	-13.5%	145	106	84	100	105	108
-72	-82	-12.4%	-10.2%	-25	-57	-26	-23	-48	-24
140	169	-17.0%	-15.1%	120	49	57	77	56	84
-6	-9	-34.9%	-33.3%	-5	-4	-5	-5	0	-5
-11	-9	+21.5%	+24.5%	-5	-4	-4	-5	-5	-6
0	0	n.m.	n.m.	0	0	0	0	0	0
-1	-1	+17.0%	+17.8%	-1	0	0	-8	-2	0
133	159	-16.2%	-14.3%	114	45	53	64	54	79
108	128	-15.9%	-14.0%	91	37	42	50	44	64

INCOME STATEMENT RATIOS

Cost income ratio	36.8%	32.4%	+4.4 p.p.	29.8%	35.7%	41.2%	36.9%	36.8%	36.8%
Cost of Risk (LLP annualised on Avg Loans) in basis points	132	170	-37	105	235	110	90	177	87
VOLUMES
Customers Loans (excl. Repos and IC)	10,740	9,440	+13.8%	9,588	9,440	9,541	10,461	10,819	10,740
Customer Depos (excl. Repos and IC)	13,599	12,100	+12.4%	12,101	12,100	11,525	12,730	14,112	13,599
Total RWA	14,404	13,233	+8.8%	14,153	13,233	12,546	13,128	15,610	14,404
OTHER FIGURES
FTEs (100%)	4,159	4,102	+1.4%	4,139	4,102	4,135	4,119	4,170	4,159
ROAC	11.5%	14.5%	-3.0 p.p.	20.9%	8.0%	10.5%	12.2%	9.7%	13.3%

4Q 2018	1Q 2019	2Q 2019
138	140	144
2	3	5
30	28	31
-12	-7	-11
।	1	1
159	166	170
-30	-34	-35
-17	-JE	-16
0	O	o
-11	-11	-11
-59	-61	-63
100	105	108
-23	-48	-24
77	56	84
-5	O	-5
-5	-5	-6
0	O	O
-8	-2	O
64	54	79
50	44	64
36.9%	36.8%	36.8%
90	177	87

90	177
10,461	10,819	10,740
12,730	14,112	13,599
13,128	15,610	14,404
4,119	4,170	4,159
12.2%	9.7%	13.3%

CEE - Russia

	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	279	262	+6.6%	+7.3%	128	134	143	148	141	138
Dividends and other income from equity investments	1	1	+25.4%	+25.4%	1	1	1	1	1	1
Net fees and commissions	77	75	+1.9%	+2.6%	38	38	37	40	40	37
Net trading income	59	50	+17.2%	+18.1%	32	18	20	7	28	31
Net other expenses/income	4	1	n.m.	n.m.	2	-1	1	1	2	2
OPERATING INCOME	420	390	+7.7%	+8.5%	201	189	202	196	211	209
Payroll costs	-71	-66	+7.8%	+8.5%	-33	-33	-36	-36	-34	-36
Other administrative expenses	-51	-55	-7.3%	-6.7%	-27	-28	-23	-32	-23	-28
Recovery of expenses	0	0	-9.6%	-9.6%	0	0	0	0	0	0
Amortisation & depreciation	-17	-15	+19.6%	+20.4%	-7	-8	-8	-9	-9	-9
Operating costs	-139	-135	+2.9%	+3.6%	-67	-68	-67	-76	-66	-73
OPERATING PROFIT	282	255	+10.3%	+11.1%	134	121	135	120	146	136
Net write-downs of loans	-21	-17	+27.7%	+28.7%	-6	-11	-12	-11	-16	-5
NET OPERATING PROFIT	261	239	+9.1%	+9.8%	129	110	123	109	130	131
Other Charges & Provisions	-24	-32	-24.6%	-24.0%	-32	-1	-2	-5	-29	5
o/w Systemic Charges	-24	-32	-25.8%	-25.3%	-32	0	-2	-2	-29	5
Integration costs	0	0	-100.0%	-100.0%	0	0	0	0	0	0
Net income from investments	0	2	-96.3%	-96.3%	0	1	1	0	0	0
PROFIT BEFORE TAX	236	208	+13.7%	+14.5%	97	111	122	104	100	136
CONSOLIDATED PROFIT	189	168	+12.7%	+13.5%	78	91	99	86	80	109
INCOME STATEMENT RATIOS
Cost income ratio	33.0%	34.5%	-1.5 p.p.		33.2%	35.9%	33.2%	38.9%	31.1%	34.9%

Cost of Risk (LLP annualised on Avg Loans) in basis points	26	22	5	15	28	30	27	40	13
VOLUMES
Customers Loans (excl. Repos and IC)	16,379	15,351	+6.7%	15,384	15,351	16,050	15,983	16,022	16,379
Customer Depos (excl. Repos and IC)	17,755	13,957	+27.2%	14,098	13,957	14,341	14,548	15,850	17,755
Total RWA	14,242	13,097	+8.7%	13,045	13,097	13,265	13,194	13,286	14,242
OTHER FIGURES
FTEs (100%)	3,365	3,122	+7.8%	3,151	3,122	3,372	3,381	3,373	3,365
ROAC	21.7%	20.1%	+1.6 p.p.	18.6%	21.6%	23.5%	20.3%	18.9%	24.4%

4Q 2018	10 2019	2Q 2019
148	141	138
।	।	।
40	40	37
7	28	31
1	2	2
196	211	209
-36	-34	-36
-32	-23	-28
O	O	O
-9	-9	-9
-76	-୧୧	-73
120	146	136
-11	-16	-5
109	130	131
-5	-29	5
-2	-29	5
O	O	O
O	O	O
104	100	136
86	80	109
38.9%	31.1%	34.9%
27	40	13
15,983	16,022	16,379
14,548	15,850	17,755
13,194	13,286	14,242

CEE - Czech Republic & Slovakia

	1H		y/y y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	93	87	+7.7%	+9.9%	43	44	47	67	46	47
Dividends and other income from equity investments	1	1	-1.7%	+0.3%	1	0	0	0	1	0
Net fees and commissions	42	40	+4.3%	+6.4%	19	21	20	19	20	22
Net trading income	27	33	-17.0%	-15.4%	13	20	10	4	16	12
Net other expenses/income	2	1	+69.1%	+70.3%	-1	2	1	0	1	1
OPERATING INCOME	166	162	+2.3%	+4.3%	75	87	78	91	83	82
Payroll costs	-29	-30	-1.0%	+0.9%	-14	-15	-16	-15	-15	-14
Other administrative expenses	-44	-42	+3.8%	+5.9%	-21	-21	-20	-25	-22	-23
Recovery of expenses	24	22	+5.6%	+7.7%	11	11	11	13	12	12
Amortisation & depreciation	-4	-3	+23.6%	+26.1%	-2	-2	-2	-2	-2	-2
Operating costs	-54	-53	+1.6%	+3.6%	-26	-27	-26	-29	-27	-27
OPERATING PROFIT	112	109	+2.7%	+4.7%	49	60	51	62	57	55
Net write-downs of loans	-3	12	n.m.	n.m.	5	7	18	-22	-5	2
NET OPERATING PROFIT	108	121	-10.4%	-8.6%	54	67	69	40	52	57
Other Charges & Provisions	-27	-24	+11.0%	+13.3%	-28	4	1	2	-27	0
o/w Systemic Charges	-26	-27	-3.0%	-1.1%	-28	1	0	1	-27	1
Integration costs	-2	0	n.m.	n.m.	0	0	0	-4	0	-2
Net income from investments	0	1	-28.9%	-27.5%	1	0	1	0	0	1
PROFIT BEFORE TAX	80	97	-17.9%	-16.3%	26	71	71	37	24	55
CONSOLIDATED PROFIT	68	84	-18.9%	-17.4%	21	63	62	31	20	48
INCOME STATEMENT RATIOS
Cost income ratio	32.6%	32.9%	-0.2 p.p.		34.9%	31.1%	33.9%	32.1%	31.9%	33.4%
Cost of Risk (LLP annualised on Avg Loans) in basis points	15	-63	78		-50	-75	-169	206	47	-17
VOLUMES
Customers Loans (excl. Repos and IC)	4,547	4,079	+11.5%		3,780	4,079	4,290	4,349	4,388	4,547
Customer Depos (excl. Repos and IC)	5,889	5,139	+14.6%		5,074	5,139	5,143	5,856	6,012	5,889

Total RWA 4,624 3,764 +22.8% 3,704 3,764 3,936 4,267 4,390 4,624 OTHER FIGURES FTEs (100%) 1,736 1,760 -1.4% 1,762 1,760 1,717 1,748 1,746 1,736 ROAC 23.4% 33.9% -10.5 p.p. 15.6% 51.9% 50.0% 22.9% 13.4% 32.9%

2018	2019	2019
67	46	47
0	1	0
। ਰੇ	20	22
ব	16	12
0	1	1
ਰ 1	83	82
-15	-15	-14
-25	-22	-23
13	12	12
-2	-2	-2
-29	-27	-27
62	57	55
-22	-5	വ
40	52	57
വ	-27	O
1	-27	1
-4	o	-2
0	0	1
37	24	55
31	20	48

32.1%	31.9%	33.4%
206	47	-17
4,349	4,388	4,547
5,856	6,012	5,889
4,267	4,390	4,624
1,748	1,746	1,736
22.9%	13.4%	32.9%

CEE - Hungary

	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	23	22	+1.3%	+1.3%	11	11	15	12	11	12
Dividends and other income from equity investments	0	0	-4.8%	-4.8%	0	0	0	0	0	0
Net fees and commissions	13	12	+10.8%	+10.8%	6	6	6	6	7	6
Net trading income	6	4	+28.4%	+28.4%	5	0	0	1	4	2
Net other expenses/income	0	0	+0.3%	+0.3%	0	0	0	0	0	0
OPERATING INCOME	42	39	+7.2%	+7.2%	21	17	21	19	22	20
Payroll costs	-13	-12	+5.0%	+5.0%	-6	-6	-7	-6	-6	-7
Other administrative expenses	-6	-5	+16.6%	+16.6%	-2	-3	-3	-3	-3	-3
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-3	-3	+7.3%	+7.3%	-2	-1	-2	-2	-2	-2
Operating costs	-23	-21	+8.4%	+8.4%	-10	-10	-11	-11	-11	-12
OPERATING PROFIT	19	18	+5.9%	+5.9%	11	7	10	7	11	8
Net write-downs of loans	5	5	-7.4%	-7.4%	2	3	-2	-3	2	3
NET OPERATING PROFIT	24	23	+2.8%	+2.8%	13	10	8	4	13	11
Other Charges & Provisions	-4	-4	+21.1%	+21.1%	-3	-1	0	-3	-3	-1
o/w Systemic Charges	-3	-2	+29.6%	+29.6%	-2	0	0	0	-2	-1
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	0	0	n.m.	n.m.	0	0	0	0	0	0
PROFIT BEFORE TAX	20	20	-0.7%	-0.7%	11	9	8	0	10	10
CONSOLIDATED PROFIT	16	16	+0.3%	+0.3%	9	8	6	0	8	8

INCOME STATEMENT RATIOS Cost income ratio 54.3% 53.8% +0.6 p.p. 48.8% 59.9% 52.6% 60.5% 50.4% 58.6% Cost of Risk (LLP annualised on Avg Loans) in basis points -52 -58 7 -48 -69 40 64 -46 -58 VOLUMES Customers Loans (excl. Repos and IC) 1,943 1,896 +2.5% 1,900 1,896 1,927 1,969 1,984 1,943 Customer Depos (excl. Repos and IC) 2,007 1,793 +11.9% 1,781 1,793 1,792 1,931 1,966 2,007 Total RWA 1,405 1,303 +7.8% 1,270 1,303 1,287 1,338 1,371 1,405 OTHER FIGURES FTEs (100%) 549 529 +3.8% 531 529 541 543 543 549 ROAC 18.2% 19.8% -1.6 p.p. 21.7% 18.0% 15.2% -0.3% 18.3% 18.1%

2019	2Q 2019
11	12
O	O
7	ട
ব	2
O	O
22	20
-6	-7
-3	-3
O	O
-2	-2
-11	-12
11	8
2	ന
13	11
-3	-1
-2	-1
O	O
O	O
10	10
8	8
	1Q

60.5%	50.4%	58.6%
64	-46	-58
1,969	1,984	1,943
1,931	1,966	2,007
1,338	1,371	1,405
543	543	549
-0.3%	18.3%	18.1%

CEE - Slovenia

(mln Euro)		1H		y/y %	1Q	2Q	3Q	4Q	1Q	2Q
	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	198	190	+4.6%	+4.6%	90	100	90	94	99	100
Dividends and other income from equity investments	2	3	-28.5%	-28.5%	1	2	1	1	1	1
Net fees and commissions	72	72	+0.0%	+0.1%	35	37	44	38	41	31
Net trading income	37	23	+58.4%	+58.5%	7	16	7	17	15	22
Net other expenses/income	5	4	+13.2%	+13.2%	2	2	2	3	2	3
OPERATING INCOME	314	292	+7.5%	+7.6%	135	157	144	152	158	156
Payroll costs	-61	-62	-1.3%	-1.3%	-31	-31	-31	-31	-30	-31
Other administrative expenses	-37	-35	+5.6%	+5.6%	-17	-18	-18	-22	-18	-19
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-14	-14	+4.0%	+4.1%	-7	-7	-7	-8	-7	-7
Operating costs	-112	-110	+1.5%	+1.5%	-55	-56	-55	-61	-55	-57
OPERATING PROFIT	202	182	+11.2%	+11.2%	80	102	89	91	103	99
Net write-downs of loans	-19	-31	-38.3%	-38.3%	-10	-21	-21	-45	-6	-13
NET OPERATING PROFIT	183	151	+21.2%	+21.3%	70	81	68	46	97	86
Other Charges & Provisions	-23	-21	+9.7%	+9.7%	-13	-8	-4	-15	-15	-9
o/w Systemic Charges	-18	-18	+4.0%	+4.0%	-13	-5	-4	-4	-13	-5
Integration costs	0	0	-100.0%	-100.0%	0	0	0	0	0	0
Net income from investments	0	4	-91.8%	-91.8%	3	2	1	-3	1	0
PROFIT BEFORE TAX	160	134	+19.4%	+19.5%	60	74	64	28	83	77
CONSOLIDATED PROFIT	112	95	+17.3%	+17.3%	43	52	44	26	58	54
INCOME STATEMENT RATIOS
Cost income ratio	35.6%	37.7%	-2.1 p.p.		40.6%	35.3%	38.3%	40.0%	34.7%	36.5%
Cost of Risk (LLP annualised on Avg Loans) in basis points	41	69	-28		44	93	92	195	27	55
VOLUMES

Cost of Risk (LLP annualised on Avg Loans) in basis points	41	69	-28	44	93	92	195	27	55
VOLUMES
Customers Loans (excl. Repos and IC)	9,266	9,183	+0.9%	8,819	9,183	9,205	9,205	9,253	9,266
Customer Depos (excl. Repos and IC)	12,000	10,936	+9.7%	10,703	10,936	11,102	11,471	11,744	12,000
Total RWA	7,994	7,908	+1.1%	7,876	7,908	7,884	7,762	8,208	7,994
OTHER FIGURES
FTEs (100%)	3,813	3,872	-1.5%	3,809	3,872	3,885	3,758	3,772	3,813
ROAC	24.8%	20.9%	+3.8 p.p.	18.8%	23.1%	19.1%	10.7%	25.8%	23.7%

OTHER FIGURES

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

4Q 2018	1Q 2019	2Q 2019
94	ਰੇਰੇ	100
1	1	1
38	41	31
17	15	22
ന	2	3
152	158	156
-31	-30	-31
-22	-18	-19
O	O	O
-8	-7	-7
-61	-55	-57
ਰੇ 1	103	ਰੇਰੇ
-45	-6	-13
46	97	86
-15	-15	-9
-4	-13	-5
O	O	O
-3	।	O
28	83	77
26	58	54
40.0%	34.7%	36.5%

CEE - Croatia

(mln Euro)	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	135	123	+10.0%	+12.1%	59	64	68	70	66	69
Dividends and other income from equity investments	0	1	-21.4%	-19.9%	0	1	0	0	0	0
Net fees and commissions	33	34	-1.9%	-0.0%	20	14	18	16	16	17
Net trading income	54	31	+75.0%	+78.3%	16	15	22	22	26	28
Net other expenses/income	1	1	-37.5%	-36.3%	1	0	1	2	0	0
OPERATING INCOME	224	189	+18.1%	+20.3%	96	93	109	111	109	115
Payroll costs	-44	-42	+5.0%	+7.0%	-21	-21	-22	-23	-22	-22
Other administrative expenses	-26	-24	+8.7%	+10.8%	-12	-12	-12	-12	-12	-14
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-15	-15	+2.9%	+4.8%	-8	-7	-9	-9	-7	-8
Operating costs	-85	-81	+5.8%	+7.7%	-40	-41	-43	-44	-41	-44
OPERATING PROFIT	138	109	+27.3%	+29.6%	56	53	66	67	68	70
Net write-downs of loans	-34	-26	+27.2%	+29.6%	-13	-13	-21	-37	-8	-25
NET OPERATING PROFIT	105	82	+27.3%	+29.7%	43	40	44	30	60	45
Other Charges & Provisions	-12	-7	+69.0%	+72.2%	-7	0	0	-6	-11	-2
o/w Systemic Charges	-11	-7	+52.1%	+55.0%	-7	0	0	0	-11	0
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	0	-1	-72.9%	-72.3%	-1	0	3	-2	0	0
PROFIT BEFORE TAX	92	74	+24.1%	+26.4%	35	39	47	22	49	43
CONSOLIDATED PROFIT	76	60	+26.2%	+28.6%	29	31	38	18	40	35

INCOME STATEMENT RATIOS
Cost income ratio	38.2%	42.7%	-4.5 p.p.	41.9%	43.5%	39.6%	39.6%	37.7%	38.7%
Cost of Risk (LLP annualised on Avg Loans) in basis points	114	91	22	93	90	145	248	55	172
VOLUMES
Customers Loans (excl. Repos and IC)	5,922	5,839	+1.4%	5,746	5,839	5,976	5,935	5,868	5,922
Customer Depos (excl. Repos and IC)	6,178	5,864	+5.4%	5,719	5,864	5,901	6,298	6,030	6,178
Total RWA	6,080	5,822	+4.4%	6,046	5,822	5,944	6,120	5,967	6,080
OTHER FIGURES
FTEs (100%)	3,294	3,306	-0.4%	3,344	3,306	3,304	3,337	3,282	3,294
ROAC	20.1%	16.3%	+3.8 p.p.	16.2%	16.4%	20.8%	9.5%	21.5%	18.7%

4Q 2018	1Q 2019	2Q 2019
70	୧୧	ਦਰ
O	O	O
16	ا e	17
22	26	28
2	O	O
111	109	115
-23	-22	-22
-12	-12	-14
O	O	O
-9	-7	-8
-44	-41	-44
67	୧୫	70
-37	-8	-25
30	60	45
-6	-11	-2
O	-11	O
O	O	O
-2	O	O
22	49	43
18	40	35

39.6%	37.7%	38.7%
248	55	172
5,935	5,868	5,922
6,298	6,030	6,178
6,120	5,967	6,080
3,337	3,282	3,294
9.5%	21.5%	18.7%

CEE - Romania

		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	141	144	-2.2%	-2.2%	71	73	71	72	70	71
Dividends and other income from equity investments	0	0	n.m.	n.m.	0	0	0	0	0	0
Net fees and commissions	65	61	+5.8%	+5.8%	30	32	32	33	32	33
Net trading income	40	31	+28.5%	+28.5%	16	15	16	17	20	20
Net other expenses/income	1	1	+63.8%	+63.8%	0	0	0	1	1	1
OPERATING INCOME	247	237	+4.1%	+4.1%	117	120	119	122	122	124
Payroll costs	-40	-37	+7.9%	+7.9%	-19	-19	-19	-19	-20	-20
Other administrative expenses	-28	-26	+6.6%	+6.6%	-14	-13	-12	-15	-13	-15
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-8	-9	-2.8%	-2.8%	-4	-4	-4	-6	-4	-4
Operating costs	-76	-72	+6.2%	+6.2%	-36	-36	-35	-40	-37	-39
OPERATING PROFIT	170	165	+3.2%	+3.2%	81	84	84	83	85	85
Net write-downs of loans	-31	-33	-8.0%	-8.0%	-18	-16	-16	-8	-16	-15
NET OPERATING PROFIT	139	131	+6.0%	+6.0%	63	68	68	74	69	70
Other Charges & Provisions	-33	-31	+9.5%	+9.5%	-31	0	0	-2	-35	1
o/w Systemic Charges	-33	-31	+8.0%	+8.0%	-30	-1	0	0	-35	2
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	2	1	n.m.	n.m.	1	0	5	-7	1	1
PROFIT BEFORE TAX	108	102	+6.1%	+6.1%	33	68	73	66	35	73
CONSOLIDATED PROFIT	96	91	+6.1%	+6.1%	30	61	66	58	31	65
INCOME STATEMENT RATIOS
Cost income ratio	31.0%	30.4%	+0.6 p.p.		31.0%	29.7%	29.6%	32.6%	30.6%	31.3%

Cost of Risk (LLP annualised on Avg Loans) in basis points	104	123	-18	130	116	115	59	108	101
VOLUMES
Customers Loans (excl. Repos and IC)	6,042	5,505	+9.7%	5,422	5,505	5,681	5,754	5,883	6,042
Customer Depos (excl. Repos and IC)	8,254	7,786	+6.0%	7,817	7,786	8,059	8,086	8,339	8,254
Total RWA	6,028	5,289	+14.0%	5,493	5,289	5,420	5,208	5,825	6,028
OTHER FIGURES
FTEs (100%)	4,168	4,121	+1.1%	4,151	4,121	4,118	4,142	4,127	4,168
ROAC	26.1%	26.1%	-0.1 p.p.	16.8%	35.0%	37.8%	33.7%	16.9%	34.6%

1 2 2018	r A 2019	ﺮ ﺗ 2019
72	70	71
0	O	0
33	32	33
17	20	20
1	1	1
122	122	124
-19	-20	-20
-15	-13	-15
0	O	O
-6	-4	-4
-40	-37	-39
83	85	85
-8	-JE	-15
74	69	70
-2	-35	1
0	-35	വ
O	O	O
-7	1	1
୧୧	35	73
58	31	દર્

32.6%	30.6%	31.3%
59	108	101
5,754	5,883	6,042
8,086	8,339	8,254
5,208	5,825	6,028
4,142	4,127	4,168
33.7%	16.9%	34.6%

CEE - Bulgaria

	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	54	55	-1.6%	-1.6%	27	28	28	28	27	27
Dividends and other income from equity investments	0	0	-7.0%	-7.0%	0	0	0	0	0	0
Net fees and commissions	23	22	+3.2%	+3.2%	11	11	11	11	11	12
Net trading income	4	4	+2.4%	+2.4%	2	2	2	2	2	2
Net other expenses/income	2	1	+97.3%	+97.3%	0	0	0	0	0	1
OPERATING INCOME	83	82	+0.9%	+0.9%	40	42	41	41	40	43
Payroll costs	-19	-19	+2.3%	+2.3%	-9	-9	-10	-10	-10	-10
Other administrative expenses	-13	-13	-0.2%	-0.2%	-7	-7	-7	-7	-7	-6
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-4	-4	+3.7%	+3.7%	-2	-2	-2	-2	-2	-2
Operating costs	-37	-36	+1.6%	+1.6%	-18	-18	-18	-19	-19	-18
OPERATING PROFIT	46	45	+0.4%	+0.4%	22	24	23	21	21	24
Net write-downs of loans	-1	-5	-74.8%	-74.8%	-2	-3	-2	-4	-1	0
NET OPERATING PROFIT	44	40	+10.5%	+10.5%	19	21	21	17	20	24
Other Charges & Provisions	-3	-3	+12.7%	+12.7%	-1	-2	-2	-2	-2	-2
o/w Systemic Charges	-3	-3	+11.8%	+11.8%	-1	-1	-1	-1	-2	-2
Integration costs	0	0	-100.0%	-100.0%	0	0	0	0	0	0
Net income from investments	0	0	n.m.	n.m.	0	0	0	0	0	0
PROFIT BEFORE TAX	41	37	+10.2%	+10.2%	18	19	19	15	19	22
CONSOLIDATED PROFIT	31	28	+9.7%	+9.7%	14	14	15	13	14	17

INCOME STATEMENT RATIOS Cost income ratio 44.8% 44.5% +0.3 p.p. 45.9% 43.2% 44.2% 47.5% 46.6% 43.2% Cost of Risk (LLP annualised on Avg Loans) in basis points 12 51 -39 48 55 38 70 26 -2 VOLUMES Customers Loans (excl. Repos and IC) 2,301 2,202 +4.5% 2,084 2,202 2,227 2,207 2,249 2,301 Customer Depos (excl. Repos and IC) 2,822 2,727 +3.5% 2,575 2,727 2,789 2,780 2,788 2,822 Total RWA 2,862 3,025 -5.4% 2,973 3,025 3,060 2,815 2,787 2,862 OTHER FIGURES FTEs (100%) 1,625 1,642 -1.0% 1,648 1,642 1,640 1,632 1,628 1,625 ROAC 19.2% 16.0% +3.2 p.p. 16.5% 15.5% 16.5% 14.5% 17.5% 20.9%

4Q 2018	1Q 2019	2Q 2019
28	27	27
O	O	O
11	11	12
വ	വ	2
0	O	1
41	40	43
-10	-10	-10
-7	-7	-6
0	0	0
-2	-2	-2
-19	-19	-18
21	21	24
-4	-1	0
17	20	24
-2	-2	-2
-1	-2	-2
0	O	O
0	O	O
15	19	22
13	14	17

47.5%	46.6%	43.2%
70	26	-2
2,207	2,249	2,301
2,780	2,788	2,822
2,815	2,787	2,862
1,632	1,628	1,625
14.5%	17.5%	20.9%

CEE - Bosnia

	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	59	54	+9.8%	+9.6%	26	28	34	30	29	30
Dividends and other income from equity investments	0	0	n.m.	n.m.	0	0	0	0	0	0
Net fees and commissions	16	13	+22.2%	+22.1%	6	7	7	7	7	9
Net trading income	8	7	+11.4%	+11.2%	4	3	4	4	5	4
Net other expenses/income	0	0	n.m.	n.m.	0	0	0	0	0	0
OPERATING INCOME	84	75	+12.4%	+12.2%	36	38	45	41	41	43
Payroll costs	-16	-15	+3.2%	+3.1%	-8	-8	-8	-7	-8	-8
Other administrative expenses	-11	-10	+10.1%	+9.9%	-5	-6	-5	-5	-6	-6
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-4	-4	+7.3%	+7.1%	-2	-2	-2	-2	-2	-2
Operating costs	-32	-30	+6.2%	+6.0%	-15	-15	-15	-15	-16	-16
OPERATING PROFIT	52	45	+16.5%	+16.3%	22	23	30	26	25	27
Net write-downs of loans	-7	0	n.m.	n.m.	0	0	5	-9	-1	-6
NET OPERATING PROFIT	45	45	+0.9%	+0.7%	22	23	35	17	24	21
Other Charges & Provisions	-4	-4	+4.4%	+4.2%	-2	-2	-2	-2	-5	1
o/w Systemic Charges	-4	-3	+13.4%	+13.2%	-2	-2	-2	-2	-2	-2
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	-2	-1	+12.8%	+12.6%	-1	-1	0	-2	0	-2
PROFIT BEFORE TAX	39	39	+0.0%	-0.1%	19	20	33	13	19	20
CONSOLIDATED PROFIT	35	36	-0.7%	-0.9%	18	18	30	12	17	18

INCOME STATEMENT RATIOS
Cost income ratio	38.0%	40.3%	-2.2 p.p.	40.2%	40.3%	33.4%	36.7%	38.5%	37.6%
Cost of Risk (LLP annualised on Avg Loans) in basis points	61	-1	61	2	-3	-88	158	17	104
VOLUMES
Customers Loans (excl. Repos and IC)	2,305	2,196	+5.0%	2,109	2,196	2,254	2,258	2,290	2,305
Customer Depos (excl. Repos and IC)	2,128	1,880	+13.2%	1,706	1,880	1,873	2,042	2,025	2,128
Total RWA	3,537	3,338	+6.0%	3,147	3,338	3,455	3,466	3,447	3,537
OTHER FIGURES
FTEs (100%)	1,206	1,192	+1.2%	1,166	1,192	1,195	1,196	1,191	1,206
ROAC	15.1%	17.0%	-2.0 p.p.	17.2%	16.9%	26.3%	10.5%	15.2%	14.9%

	1Q	2Q
8	2019	2019

30	29	30
0	O	O
7	7	ு
4	5	4
0	O	O
41	41	43
-7	-8	-8
-5	-6	-6
0	0	0
-2	-2	-2
	-16	-16
-15
26	25	27
-9	-1	-6
17	24	21
-2	-5	1
-2	-2	-2
0	0	0
-2	0	-2
13	19	20
12	17	18

36.7%	38.5%	37.6%
158	17	104
2,258	2,290	2,305
2,042	2,025	2,128
3,466	3,447	3,537
1,196	1,191	1,206
10.5%	15.2%	14.9%

CEE - Serbia

	1H		y/y y/y %		1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	at const. FX	2018	2018	2018	2018	2019	2019
Net interest	410	434	-5.7%	+20.3%	215	220	253	278	209	201
Dividends and other income from equity investments	4	5	-23.3%	-18.0%	3	2	2	1	2	1
Net fees and commissions	140	142	-1.0%	+26.5%	74	68	50	59	74	66
Net trading income	31	-4	n.m.	n.m.	-7	3	-3	22	27	3
Net other expenses/income	2	4	-48.8%	-34.4%	2	2	1	1	1	1
OPERATING INCOME	587	581	+1.0%	+28.8%	287	294	302	362	314	272
Payroll costs	-109	-118	-8.1%	+17.2%	-59	-59	-50	-55	-55	-54
Other administrative expenses	-56	-59	-5.4%	+20.4%	-29	-29	-25	-30	-28	-28
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-18	-19	-7.3%	+18.2%	-11	-8	-8	-9	-9	-9
Operating costs	-182	-196	-7.2%	+18.3%	-99	-96	-83	-93	-91	-90
OPERATING PROFIT	405	385	+5.1%	+34.2%	188	197	219	269	223	182
Net write-downs of loans	-212	-113	+87.3%	n.m.	-42	-72	-152	-174	-107	-105
NET OPERATING PROFIT	193	272	-29.1%	-10.1%	146	126	67	94	116	77
Other Charges & Provisions	-23	-38	-39.7%	-23.0%	-18	-20	-37	29	-19	-4
o/w Systemic Charges	-9	-10	-6.7%	+18.5%	-5	-5	-4	-4	-4	-4
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	0	0	+37.1%	+40.7%	0	0	0	0	0	0
PROFIT BEFORE TAX	170	234	-27.4%	-8.1%	129	106	30	123	97	73
CONSOLIDATED PROFIT	139	183	-23.6%	-3.2%	100	83	24	92	76	63
INCOME STATEMENT RATIOS
Cost income ratio	31.0%	33.7%	-2.7 p.p.		34.6%	32.8%	27.4%	25.6%	29.0%	33.2%
Cost of Risk (LLP annualised on Avg Loans) in basis points	271	123	148		89	158	361	444	271	270
VOLUMES
Customers Loans (excl. Repos and IC)	15,345	18,117	-15.3%		18,195	18,117	15,550	15,869	15,734	15,345
Customer Depos (excl. Repos and IC)	13,702	13,809	-0.8%		13,925	13,809	12,389	13,508	13,880	13,702
Total RWA	22,502	25,438	-11.5%		25,280	25,438	23,192	23,089	23,067	22,502
OTHER FIGURES
ROAC	9.7%	11.4%	-1.7 p.p.		12.2%	10.5%	3.2%	12.7%	10.5%	8.8%

CEE - Yapi

N.B. Managerial data for illustrative purposes only. At Group level and within CEE Division, Yapi contributes with the net profit attributable to UCG only to the line "Dividends and equity investments income".

2018	2019	2019
278	209	201
1	2	1
ਦੇ ਰੇ	74	୧୧
22	27	ന
1	1	1
362	314	272
-55	-55	-54
-30	-28	-28
0	O	O
-9	-9	-9
-93	-91	-90
269	223	182
-174	-107	-105
94	116	77
29	-19	-4
-4	-4	-4
0	O	O
o	O	O
123	97	73
92	76	63

25.6%	29.0%	33.2%
444	271	270
15,869	15,734	15,345
13,508	13,880	13,702
23,089	23,067	22,502

12.7%	10.5%	8.8%

		1H	y/y	1Q	2Q	3Q 4Q 1Q 2018 2018 2019 30 8 3 0 0 0 6 6 3 -14 -11 -2 -4 -12 -5 18 -9 -1 -9 -8 -10 -57 -78 -52 18 17 19 0 0 0 -48 -69 -43 -30 -78 -44 -218 -189 -103
(mln Euro)	2019	2018	%	2018	2018				2019
Net interest	8	61	-87.2%	33	28				5
Dividends and other income from equity investments	0	0	n.m.	0	0				0
Net fees and commissions	6	16	-63.8%	8	8				3
Net trading income	-8	-29	-73.5%	-23	-6				-6
Net other expenses/income	-12	-14	-18.3%	-6	-8				-7
OPERATING INCOME	-6	34	n.m.	12	21				-5
Payroll costs	-17	-19	-8.9%	-10	-9				-7
Other administrative expenses	-105	-111	-5.9%	-54	-58				-53
Recovery of expenses	37	41	-9.0%	13	28				18
Amortisation & depreciation	0	0	+0.8%	0	0				0
Operating costs	-85	-90	-5.1%	-50	-39				-42
OPERATING PROFIT	-91	-56	+62.4%	-38	-18				-46
Net write-downs of loans	-297	-514	-42.2%	-126	-388				-194
NET OPERATING PROFIT	-388	-570	-31.9%	-164	-406	-248	-267	-148	-240
Other Charges & Provisions	-104	-22	n.m.	-30	7	-2	-63	-93	-11
o/w Systemic Charges	-15	-25	-40.6%	-20	-5	-1	-1	-15	-1
Integration costs	0	0	+27.3%	0	0	0	0	0	0
Net income from investments	-27	0	n.m.	0	0	0	-22	0	-27
PROFIT BEFORE TAX	-519	-592	-12.4%	-193	-399	-250	-352	-240	-278
CONSOLIDATED PROFIT	-399	-416	-4.1%	-137	-280	-176	-208	-189	-211
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	987	893	94	400	n.m.	928	979	652	n.m.
VOLUMES
Customers Loans (excl. Repos and IC)	5,333	9,973	-46.5%	10,918	9,973	8,833	6,612	6,069	5,333
Customer Depos (excl. Repos and IC)	546	828	-34.1%	824	828	749	528	482	546
Total RWA	15,240	15,226	+0.1%	16,957	15,226	13,966	12,221	11,695	15,240
OTHER FIGURES
FTEs (100%)	326	414	-21.4%	431	414	395	345	325	326
ROAC	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.

1Q 2019	2Q 2019
3	5
0	0
ന	ന
-2	-6
-5	-7
-1	-5
-10	-7
-52	-53
19	18
O	O
-43	-42
-44	-46
-103	-194
-148	-240
-93	-11
-15	-1
O	O
O	-27
-240	-278
-189	-211
n.m.	n.m.
652	n.m.
6,069	5,333
482	546
11,695	15,240
325	326
n.m.	n.m.

Non Core

29

		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2019	2018	%	2018	2018	2018	2018	2019	2019
GROUP
Investment fees	1,129	1,258	-10.3%	640	618	536	516	542	587
Financing fees	849	908	-6.6%	453	455	431	475	444	404
Transactional fees	1,129	1,088	+3.7%	548	540	556	559	555	574
TOTAL NET COMMISSIONS	3,106	3,254	-4.6%	1,642	1,613	1,523	1,551	1,541	1,565
Group Core
Investment fees	1,128	1,257	-10.2%	640	617	535	516	541	587
Financing fees	846	901	-6.1%	450	452	429	471	443	403
Transactional fees	1,126	1,080	+4.2%	544	536	553	557	554	572
TOTAL NET COMMISSIONS	3,100	3,238	-4.3%	1,633	1,605	1,517	1,544	1,538	1,562

1Q 2019	2Q 2019
542	587
444	404
555	574
1,541	1,565
541	587
443	403
554	572

Fees - Details Group

ACTUAL FIGURES

	1Q 2018	2Q 2018	3Q 2018	4Q 2018	1Q 2019	2Q 2019
Western Europe	3,077	3,019	2,978	2,928	2,908	2,884
Italy	2,613	2,555	2,516	2,466	2,446	2,425
Germany	341	341	339	339	339	337
Austria	123	123	123	123	123	122
CEE	1,682	1,679	1,675	1,663	1,651	1,651
Russia	88	89	88	88	88	88
Czech Republic & Slovakia	129	128	128	127	123	123
Hungary	55	55	54	55	55	55
Slovenia	24	24	24	24	24	24
Croatia	117	116	116	116	116	116
Romania	141	139	138	138	135	135
Bulgaria	156	156	156	156	151	151
Bosnia	113	113	111	111	111	111
Serbia	71	71	71	72	72	72
Yapi (100%)	788	788	789	776	776	776
Total Group	4,759	4,698	4,653	4,591	4,559	4,535

N. of Branches (CMD perimeter)*

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

2Q
2019
2,884
2,425
337
122
1,651
88
123
55
24
116
135
151
111
72
776