Unicredit — Interim / Quarterly Report 2021

Jul 30, 2021

30 July 2021

Divisional Database

2Q21 - 1H21 GROUP RESULTS

CONSOLIDATED ACCOUNTS

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

CONTRIBUTION OF DIVISIONS TO GROUP RESULTS

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

Consolidated Income Statement

CONSOLIDATED INCOME STATEMENT

E-MARKET SDIR
CERTIFIED

	1H		y/y	1Q		3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	2020	2Q 2020	2020	2020	2021	2021
Net interest	4,383	4,887	-10.3%	2,494	2,393	2,303	2,250	2,180	2,203
Dividends and other income from equity investments	237	164	+44.7%	102	62	128	124	112	125
Net fees and commissions	3,362	2,997	+12.2%	1,618	1,378	1,467	1,504	1,688	1,674
Net trading income	1,064	530	n.m.	173	357	455	426	639	425
Net other expenses/income	39	-34	n.m.	-11	-22	-1	-69	68	-29
OPERATING INCOME	9,084	8,544	+6.3%	4,376	4,168	4,352	4,236	4,686	4,398
Payroll costs	-2,975	-3,034	-1.9%	-1,542	-1,492	-1,479	-1,456	-1,480	-1,495
Other administrative expenses	-1,603	-1,604	-0.1%	-809	-795	-786	-825	-792	-811
Recovery of expenses	264	253	+4.5%	125	128	124	147	129	135
Amortisation & depreciation	-561	-548	+2.3%	-265	-284	-266	-323	-270	-290
Operating costs	-4,874	-4,933	-1.2%	-2,491	-2,442	-2,408	-2,456	-2,413	-2,461
OPERATING PROFIT	4,209	3,610	+16.6%	1,885	1,726	1,945	1,780	2,272	1,937
Net write-downs of loans	-527	-2,198	-76.0%	-1,261	-937	-741	-2,058	-167	-360
NET OPERATING PROFIT	3,682	1,412	n.m.	624	788	1,204	-278	2,105	1,577
Other Charges & Provisions	-916	-713	+28.5%	-528	-185	-251	-91	-702	-214
o/w Systemic Charges	-745	-703	+5.9%	-538	-166	-201	-53	-620	-125
o/w DGS	-98	-90	+9.5%	-64	-26	-169	-20	-77	-21
o/w Bank levies	-72	-137	-47.7%	-100	-37	-32	-33	-45	-27
o/w SRF	-575	-477	+20.7%	-373	-103	0	0	-498	-77
Integration costs	-7	-1,352	-99.5%	-1,347	-6	-30	-82	0	-7
Net income from investments	-181	-1,353	-86.7%	-1,261	-92	-141	130	-195	15
PROFIT BEFORE TAX	2,578	-2,007	n.m.	-2,512	505	782	-322	1,207	1,371
Income tax for the period	-646	-213	n.m.	-140	-73	-97	-34	-314	-331
Profit (Loss) from non-current assets held for sale after tax	1	1	+74.4%	0	1	0	48	1	0
PROFIT (LOSS) FOR THE PERIOD	1,934	-2,219	n.m.	-2,652	433	685	-308	894	1,040
Minorities	-12	-10	+20.0%	-5	-6	-5	8	-7	-5
NET PROFIT ATTRIBUTABLE TO THE GROUP BEFORE PPA	1,922	-2,229	n.m.	-2,656	428	680	-300	888	1,034
Purchase Price Allocation effect	-1	-50	-98.6%	-50	0	0	0	0	-1
Goodwill impairment	0	-8	-100.0%	0	-8	0	-878	0	0
CONSOLIDATED PROFIT	1,921	-2,286	n.m.	-2,706	420	680	-1,179	887	1,034
INCOME STATEMENT RATIOS
Cost income ratio	53.7%	57.7%	-4.1 p.p.	56.9%	58.6%	55.3%	58.0%	51.5%	56.0%
Cost of Risk (LLP annualised on Avg Loans) in basis points	24	91	-67	104	77	63	179	15	33
Tax rate	25.0%	n.m.	n.m.	n.m.	14.4%	12.4%	n.m.	26.0%	24.2%
VOLUMES (bn)
Customers Loans (excl. Repos)	419.5	431.0	-2.7%	433.8	431.0	421.6	414.8	417.2	419.5
Customer Depos (excl. Repos)	457.3	433.3	+5.5%	423.3	433.3	445.1	459.9	453.6	457.3
TFA*	773.4	700.0	+10.5%	662.8	700.0	716.8	747.9	754.1	773.4
o/w AUM	216.8	191.4	+13.3%	180.4	191.4	195.8	203.2	210.6	216.8
o/w AUC	157.8	132.9	+18.7%	118.2	132.9	135.7	146.2	148.0	157.8
Total RWA	327.7	350.7	-6.5%	361.0	350.7	336.4	325.7	314.9	327.7
OTHER FIGURES (units)
FTEs (100%)	80,879	83,685	-3.4%	83,942	83,685	83,621	82,107	82,002	80,879
ROTE STATED	7.5%	-8.9%	16.3 p.p.	-20.8%	3.3%	5.3%	-9.3%	6.9%	7.9%

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

Consolidated Balance Sheet

	1Q	2Q	3Q	4Q	1Q	2Q
(bln Euro)	2020	2020	2020	2020	2021	2021
Assets
Cash and cash balances	20.7	17.3	37.9	101.7	111.1	122.8
Financial assets held for trading	69.8	67.2	73.2	72.7	73.9	79.0
Loans to banks	94.5	126.5	129.1	111.8	113.6	113.4
Loans to customers	490.0	479.3	466.8	450.5	446.7	438.4
Other financial assets	151.9	155.9	153.4	153.3	158.3	158.6
Hedging instruments	11.1	11.4	8.2	7.7	6.6	5.9
Property, plant and equipment	10.5	10.2	10.1	9.9	9.8	9.7
Goodwill	0.9	0.9	0.9	0.0	0.0	0.0
Other intangible assets	1.9	2.0	2.0	2.1	2.1	2.2
Tax assets	13.0	13.0	13.0	13.1	12.8	12.5
Non-current assets and disposal groups classified as held for sale	2.0	2.0	2.1	2.0	1.0	0.7
Other assets	6.5	7.0	6.6	6.5	6.2	6.8
Total assets	872.8	892.7	903.4	931.5	942.2	950.0
Liabilities and shareholders' equity
Deposits from banks	161.5	164.8	163.8	172.5	189.4	186.7
Deposits from customers	455.0	468.3	474.8	498.4	497.4	505.7
Debt securities issued	95.2	95.9	101.6	102.5	98.9	96.0
Financial liabilities held for trading	46.8	45.6	47.8	47.8	46.4	49.8
Other financial liabilities	11.1	12.7	13.0	12.9	12.3	12.0
Hedging instruments	14.2	15.0	12.6	11.8	9.1	8.0
Tax liabilities	1.5	1.5	1.5	1.4	1.1	1.2
Liabilities included in disposal groups classified as held for sale	0.6	0.6	0.6	0.8	0.7	0.6
Other liabilities	25.7	27.2	26.7	23.5	25.8	28.2
Minorities	0.4	0.4	0.4	0.4	0.4	0.4
Group Shareholders' Equity:	60.8	60.7	60.6	59.5	60.7	61.4
- Capital and reserves	63.5	63.0	62.3	62.3	59.8	59.4
- Net profit (loss)	-2.7	-2.3	-1.6	-2.8	0.9	1.9
Total liabilities and shareholders' equity	872.8	892.7	903.4	931.5	942.2	950.0

Shareholders' Equity attributable to the Group & Shares

(mln Euro)

Shareholders' equity as at 31 December 2020	59,507
Dividends distributed	-268
Share buyback	-179
Change in reserve related coupon on AT1 instruments	-165
Change in the valuation reserve relating to the financial assets and liabilities at fair value	-114
Change in the valuation reserve tangible assets	176
Exchange differences reserve(*)	237
Change in the valuation reserve relating to the actuarial gains/losses on defined benefit plans(**)	339
Other changes	-98
Net profit (loss) for the period	1,921
Shareholders' equity as at 30 June 2021	61,356

Notes:

(*) This effect is mainly due to the impact of Russian Ruble for +€116 million and of Czech Crown for +€78 million.

(**) Mainly referred to the increase in DBO discount rate induced by the reduction in prices of High Quality Corporate Bonds partially offset by plan assets performance.

Average & EoP YtD number of oustanding and diluted shares

	1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
Average number of outstanding shares*	2,223,909,901	2,225,745,652	2,226,362,035	2,226,668,543	2,227,721,149	2,228,043,134
Average number of diluted shares*	2,233,897,148	2,236,776,028	2,237,260,376	2,239,530,094	2,237,460,816	2,240,919,446
EoP number of outstanding shares*	2,227,581,402	2,227,581,402	2,227,581,402	2,227,581,402	2,233,870,007	2,216,453,879
EoP number of diluted shares*	2,240,149,642	2,240,048,147	2,239,908,063	2,241,202,294	2,245,357,868	2,230,252,153

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

	Asset Quality Group
LOANS TO CUSTOMERS
	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2020	2020	2020	2021	2021
Gross Bad Loans	12,581	10,767	10,024	7,613	7,596	7,110
Writedowns	9,663	8,098	7,481	5,967	5,942	5,521
Coverage Ratio	76.8%	75.2%	74.6%	78.4%	78.2%	77.6%
Net Bad Loans	2,918	2,669	2,543	1,645	1,654	1,590
Gross Unlikely to pay	11,475	11,956	11,806	12,874	13,681	13,407
Writedowns	6,278	6,407	6,119	6,492	6,731	6,538
Coverage Ratio	54.7%	53.6%	51.8%	50.4%	49.2%	48.8%
Net Unlikely to pay	5,197	5,549	5,687	6,381	6,950	6,869
Gross Past-due loans	858	948	874	759	1,147	1,021
Writedowns	305	341	314	256	386	354
Coverage Ratio	35.5%	36.0%	35.9%	33.7%	33.7%	34.7%
Net Past-due loans	553	607	561	503	761	667
GROSS NON PERFORMING EXPOSURES	24,914	23,671	22,704	21,246	22,424	21,538
Writedowns	16,246	14,846	13,913	12,716	13,060	12,413
Coverage Ratio	65.2%	62.7%	61.3%	59.8%	58.2%	57.6%
NET NON PERFORMING EXPOSURES	8,668	8,825	8,792	8,530	9,364	9,125
GROSS PERFORMING LOANS	484,646	474,040	461,791	446,157	441,010	433,227
Writedowns	3,341	3,611	3,806	4,138	3,683	3,951
Coverage Ratio	0.7%	0.8%	0.8%	0.9%	0.8%	0.9%
NET PERFORMING LOANS	481,306	470,429	457,985	442,019	437,326	429,276
	1Q	2Q	3Q	4Q	1Q	2Q
	2020	2020	2020	2020	2021	2021
Gross Bad Loans ratio	2.5%	2.2%	2.1%	1.6%	1.6%	1.6%
Net Bad Loans ratio	0.6%	0.6%	0.5%	0.4%	0.4%	0.4%
Gross Unlikely to pay ratio	2.3%	2.4%	2.4%	2.8%	3.0%	2.9%
Net Unlikely to pay ratio	1.1%	1.2%	1.2%	1.4%	1.6%	1.6%
Gross Past-due loans ratio	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%
Net Past-due loans ratio	0.1%	0.1%	0.1%	0.1%	0.2%	0.2%

GROSS NPE Ratio 4.9% 4.8% 4.7% 4.5% 4.8% 4.7% NET NPE Ratio 1.8% 1.8% 1.9% 1.9% 2.1% 2.1%

Asset Quality - Group excl. Non Core

	LOANS TO CUSTOMERS

(mln Euro)	1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
Gross Bad Loans	7,510	6,589	6,316	5,609	5,636	5,280
Writedowns	5,418	4,677	4,449	4,222	4,231	3,935
Coverage Ratio	72.1%	71.0%	70.4%	75.3%	75.1%	74.5%
Net Bad Loans	2,092	1,913	1,867	1,386	1,406	1,345
Gross Unlikely to pay	8,460	9,172	9,644	11,193	12,058	11,958
Writedowns	4,177	4,487	4,677	5,323	5,604	5,556
Coverage Ratio	49.4%	48.9%	48.5%	47.6%	46.5%	46.5%
Net Unlikely to pay	4,284	4,686	4,968	5,870	6,454	6,402
Gross Past-due loans	844	936	864	751	1,137	1,012
Writedowns	299	336	309	252	382	350
Coverage Ratio	35.4%	35.8%	35.8%	33.6%	33.6%	34.6%
Net Past-due loans	545	600	555	499	755	662
GROSS NON PERFORMING EXPOSURES	16,815	16,698	16,825	17,553	18,831	18,249
Writedowns	9,893	9,499	9,435	9,798	10,217	9,841
Coverage Ratio	58.8%	56.9%	56.1%	55.8%	54.3%	53.9%
NET NON PERFORMING EXPOSURES	6,922	7,199	7,389	7,755	8,615	8,408
GROSS PERFORMING LOANS	484,646	474,040	461,791	446,157	441,010	433,227
Writedowns	3,341	3,611	3,806	4,138	3,683	3,951
Coverage Ratio	0.7%	0.8%	0.8%	0.9%	0.8%	0.9%
NET PERFORMING LOANS	481,306	470,429	457,985	442,019	437,326	429,276
	1Q	2Q	3Q	4Q	1Q	2Q
	2020	2020	2020	2020	2021	2021
Gross Bad Loans ratio Net Bad Loans ratio	1.5% 0.4%	1.3% 0.4%	1.3% 0.4%	1.2% 0.3%	1.2% 0.3%	1.2% 0.3%
Gross Unlikely to pay ratio	1.7%	1.9%	2.0%	2.4%	2.6%	2.6%
Net Unlikely to pay ratio	0.9%	1.0%	1.1%	1.3%	1.4%	1.5%
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%	0.2%	0.2%
GROSS NPE Ratio	3.4%	3.4%	3.5%	3.8%	4.1%	4.0%
NET NPE Ratio	1.4%	1.5%	1.6%	1.7%	1.9%	1.9%

	Asset Quality - Non Core
LOANS TO CUSTOMERS
	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2020	2020	2020	2021	2021
Gross Bad Loans	5,071	4,178	3,708	2,004	1,960	1,831
Writedowns	4,245	3,422	3,031	1,745	1,712	1,585
Coverage Ratio	83.7%	81.9%	81.8%	87.1%	87.3%	86.6%
Net Bad Loans	825	756	677	259	248	245
Gross Unlikely to pay	3,015	2,783	2,162	1,681	1,623	1,449
Writedowns	2,101	1,920	1,442	1,169	1,127	983
Coverage Ratio	69.7%	69.0%	66.7%	69.5%	69.5%	67.8%
Net Unlikely to pay	913	863	720	512	496	466
Gross Past-due loans	14	12	10	8	9	9
Writedowns	6	5	5	4	4	4
Coverage Ratio	45.2%	44.7%	42.9%	46.5%	40.3%	46.0%
Net Past-due loans	7	7	6	4	6	5
GROSS NON PERFORMING EXPOSURES	8,099	6,973	5,880	3,693	3,593	3,289
Writedowns	6,353	5,347	4,478	2,918	2,843	2,572
Coverage Ratio	78.4%	76.7%	76.2%	79.0%	79.1%	78.2%
NET NON PERFORMING EXPOSURES	1,746	1,626	1,402	775	750	717
GROSS PERFORMING LOANS	0	0	0	0	0	0
Writedowns	0	0	0	0	0	0
Coverage Ratio	n.m.	n.m.	n.m.	n.m.	n.m.	n.m.
NET PERFORMING LOANS	0	0	0	0	0	0
	1Q	2Q	3Q	4Q	1Q	2Q
	2020	2020	2020	2020	2021	2021
Gross Bad Loans ratio	62.6%	59.9%	63.1%	54.3%	54.6%	55.7%
Net Bad Loans ratio	47.3%	46.5%	48.3%	33.4%	33.1%	34.2%
Gross Unlikely to pay ratio	37.2%	39.9%	36.8%	45.5%	45.2%	44.1%
Net Unlikely to pay ratio	52.3%	53.1%	51.3%	66.0%	66.1%	65.1%
Gross Past-due loans ratio	0.2%	0.2%	0.2%	0.2%	0.3%	0.3%
Net Past-due loans ratio	0.4%	0.4%	0.4%	0.6%	0.7%	0.7%
GROSS NPE Ratio	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
NET NPE Ratio	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Asset Quality by Division
LOANS TO CUSTOMERS	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2020	2020	2020	2020	2021	2021
Commercial Banking Italy
Gross Non Performing Exposures	7,446	7,359	7,244	7,087	8,213	8,109
Net Non Performing Exposures	3,134	3,321	3,236	2,622	3,435	3,559
NPE Coverage Ratio	57.9%	54.9%	55.3%	63.0%	58.2%	56.1%
Gross Customer Loans	139,593	138,577	139,142	138,867	141,167	143,388
Net Customer Loans	133,762	133,021	133,428	132,333	134,643	136,948
Gross NPE Ratio	5.3%	5.3%	5.2%	5.1%	5.8%	5.7%
Net NPE Ratio	2.3%	2.5%	2.4%	2.0%	2.6%	2.6%
Commercial Banking Germany
Gross Non Performing Exposures	1,498	1,519	1,773	1,965	2,015	2,032
Net Non Performing Exposures	808	851	1,143	1,339	1,355	1,351
NPE Coverage Ratio	46.1%	44.0%	35.5%	31.9%	32.8%	33.5%
Gross Customer Loans	89,515	90,765	90,142	88,748	89,793	90,854
Net Customer Loans	88,453	89,682	89,067	87,735	88,760	89,793
Gross NPE Ratio	1.7%	1.7%	2.0%	2.2%	2.2%	2.2%
Net NPE Ratio	0.9%	0.9%	1.3%	1.5%	1.5%	1.5%
Commercial Banking Austria Gross Non Performing Exposures	1,699	1,655	1,633	1,718	1,703	1,668
Net Non Performing Exposures	856	847	839	897	909	870
NPE Coverage Ratio	49.6%	48.8%	48.6%	47.8%	46.6%	47.8%
Gross Customer Loans	46,368	45,802	45,779	44,932	45,619	44,790
Net Customer Loans	45,139	44,628	44,636	43,726	44,476	43,599
Gross NPE Ratio	3.7%	3.6%	3.6%	3.8%	3.7%	3.7%
Net NPE Ratio	1.9%	1.9%	1.9%	2.1%	2.0%	2.0%
CIB
Gross Non Performing Exposures	2,790	2,741	2,643	2,970	3,087	2,828
Net Non Performing Exposures	1,053	1,073	987	1,503	1,586	1,411
NPE Coverage Ratio	62.2%	60.9%	62.7%	49.4%	48.6%	50.1%
Gross Customer Loans	155,710	146,916	136,178	124,854	115,143	103,507
Net Customer Loans	153,659	144,810	134,094	122,995	113,310	101,686
Gross NPE Ratio	1.8%	1.9%	1.9%	2.4%	2.7%	2.7%
Net NPE Ratio	0.7%	0.7%	0.7%	1.2%	1.4%	1.4%
CEE
Gross Non Performing Exposures	3,376	3,419	3,522	3,809	3,811	3,613
Net Non Performing Exposures	1,071	1,106	1,180	1,394	1,330	1,218
NPE Coverage Ratio	68.3%	67.6%	66.5%	63.4%	65.1%	66.3%
Gross Customer Loans	69,342	68,357	65,908	65,617	67,472	67,711
Net Customer Loans	66,285	65,168	62,686	62,302	64,110	64,433
Gross NPE Ratio	4.9%	5.0%	5.3%	5.8%	5.6%	5.3%
Net NPE Ratio	1.6%	1.7%	1.9%	2.2%	2.1%	1.9%

9

Capital Position

GROUP CAPITAL STRUCTURE

	Basel 3
	1Q	2Q	3Q	4Q	1Q	2Q	Change %
(bn Euro)	2020	2020	2020	2020	2021	2021	q/q	y/y
Common Equity Tier I Fully Loaded	48.5	48.6	48.5	49.3	50.2	50.9	+1.3	+4.7
Common Equity Tier I Capital Transitional (*)	48.5	51.0	51.0	52.0	52.1	52.8	+1.3	+3.6
Tier I Capital Transitional	55.9	58.3	58.3	59.3	59.2	58.9	-0.5	+1.0
Total Capital Transitional	65.0	68.2	66.8	67.5	68.0	67.4	-0.9	-1.1
Total RWA Transitional	361.0	350.7	336.4	325.7	314.9	327.7	+4.1	-6.5
Credit Risk	313.8	302.2	291.3	283.6	273.4	286.6	+4.8	-5.2
Market Risk	14.6	15.6	12.6	11.2	10.7	9.7	-8.8	-37.7
Operational Risk	32.6	32.9	32.5	30.9	30.8	31.4	+1.8	-4.5
CAPITAL RATIOS
	1Q	2Q	3Q	4Q	1Q	2Q	Delta
	2020	2020	2020	2020	2021	2021	q/q	y/y
Common Equity Tier I Capital Ratio Transitional	13.44%	14.54%	15.15%	15.96%	16.54%	16.11%	-44bp	+157bp
Tier I Capital Ratio Transitional	15.48%	16.63%	17.33%	18.22%	18.80%	17.97%	-83bp	+134bp
Total Capital Ratio Transitional	18.01%	19.44%	19.86%	20.72%	21.60%	20.57%	-102bp	+113bp
MDA buffer Fully Loaded (CET1 ratio)	4.36%	4.81%	5.38%	6.11%	6.89%	6.47%	-42bp	+167bp
MDA buffer Transitional (CET1 ratio)**	4.36%	5.49%	6.12%	6.93%	7.51%	7.08%	-44bp	+158bp

(*) Starting from 2Q 2020, the capital ratios includes the transitional arrangements related to IFRS9 as per CRR article 473a (**) MDA buffer Tr CET1 equal to Fully loaded till 1Q20.

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."

Commercial Bank - Italy

INCOME STATEMENT
		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	2020	2020	2020	2020	2021	2021
Net interest	1,289	1,534	-16.0%	780	755	680	674	638	651
Dividends and other income from equity investments	73	56	+30.3%	29	27	48	36	37	36
Net fees and commissions	1,936	1,687	+14.8%	915	772	831	850	971	966
Net trading income	31	-1	n.m.	-9	8	22	20	11	19
Net other expenses/income	14	-35	n.m.	-15	-20	-18	-52	50	-36
OPERATING INCOME	3,343	3,241	+3.1%	1,699	1,542	1,563	1,528	1,707	1,636
Payroll costs	-1,004	-1,049	-4.3%	-530	-519	-510	-485	-503	-501
Other administrative expenses	-987	-938	+5.3%	-464	-474	-476	-483	-485	-502
Recovery of expenses	205	192	+6.7%	94	98	97	105	101	105
Amortisation & depreciation	-40	-44	-8.0%	-22	-22	-21	-23	-20	-20
Operating costs	-1,826	-1,838	-0.6%	-922	-916	-910	-886	-908	-919
OPERATING PROFIT	1,517	1,403	+8.1%	778	626	653	641	800	717
Net write-downs of loans	-442	-1,096	-59.6%	-649	-446	-449	-1,136	-200	-242
NET OPERATING PROFIT	1,074	308	n.m.	128	180	204	-495	600	475
Other Charges & Provisions	-91	-92	-0.6%	-69	-23	-106	-66	-90	-2
o/w Systemic Charges	-80	-70	+13.0%	-59	-12	-93	2	-78	-2
o/w DGS	0	0	-100.0%	0	0	-93	3	0	0
o/w Bank levies	-2	-1	+51.8%	0	-1	0	0	-1	-1
o/w SRF	-78	-69	+12.5%	-58	-11	0	0	-77	-1
Integration costs	0	-1,029	-100.0%	-1,027	-3	0	-25	1	-1
Net income from investments	21	-8	n.m.	-1	-7	-4	-1	24	-3
PROFIT BEFORE TAX	1,004	-821	n.m.	-968	146	93	-586	535	469
CONSOLIDATED PROFIT	747	-602	n.m.	-715	112	101	-440	390	357
INCOME STATEMENT RATIOS
Cost income ratio	54.6%	56.7%	-2.1 p.p.	54.2%	59.4%	58.2%	58.0%	53.2%	56.2%
Cost of Risk (LLP annualised on Avg Loans) in basis points	66	164	-98	193	134	135	342	60	71
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	136.9	133.0	+3.0%	133.7	133.0	133.4	132.3	134.6	136.9
Customer Depos (excl. Repos and IC)	170.4	159.6	+6.8%	154.8	159.6	164.0	172.4	169.5	170.4
Total RWA	81.0	90.3	-10.3%	93.9	90.3	87.1	83.0	77.7	81.0
OTHER FIGURES
FTEs (100%)	26,373	27,773	-5.0%	28,100	27,773	27,662	26,743	26,766	26,373
ROAC	15.9%	-10.5%	26.4 p.p.	-24.5%	4.0%	3.7%	-16.9%	16.5%	15.3%

			Commercial Bank - Germany
INCOME STATEMENT
		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	2020	2020	2020	2020	2021	2021
Net interest	717	803	-10.7%	420	383	367	364	352	365
Dividends and other income from equity investments	0	0	+36.2%	0	0	0	0	0	0
Net fees and commissions	400	365	+9.5%	196	169	177	166	205	195
Net trading income	57	12	n.m.	-3	15	19	40	33	25
Net other expenses/income	21	27	-23.5%	9	19	4	15	13	8
OPERATING INCOME	1,195	1,208	-1.1%	622	586	568	585	603	593
Payroll costs	-480	-482	-0.5%	-243	-239	-238	-242	-240	-240
Other administrative expenses	-363	-352	+3.1%	-181	-171	-161	-172	-189	-174
Recovery of expenses	7	6	+9.0%	3	3	3	4	4	3
Amortisation & depreciation	-7	-10	-27.8%	-5	-5	-5	-5	-4	-3
Operating costs	-843	-837	+0.6%	-425	-412	-401	-415	-429	-414
OPERATING PROFIT	353	371	-4.9%	196	174	167	170	174	179
Net write-downs of loans	-53	-225	-76.4%	-153	-72	-51	-84	10	-63
NET OPERATING PROFIT	299	146	n.m.	44	102	116	86	184	115
Other Charges & Provisions	-109	-53	n.m.	-37	-16	-41	57	-80	-29
o/w Systemic Charges	-95	-55	+74.4%	-40	-14	-7	-6	-78	-17
o/w DGS	-22	-11	n.m.	-5	-5	-7	-6	-5	-17
o/w Bank levies	0	0	n.m.	0	0	0	0	0	0
o/w SRF	-73	-44	+67.3%	-35	-9	0	0	-73	0
Integration costs	0	-1	n.m.	0	-1	0	-25	0	0
Net income from investments	6	0	n.m.	0	0	-2	-23	0	6
PROFIT BEFORE TAX	196	92	n.m.	7	85	74	96	103	92
CONSOLIDATED PROFIT	119	102	+16.9%	15	87	52	16	66	53
INCOME STATEMENT RATIOS
Cost income ratio	70.5%	69.3%	+1.2 p.p.	68.4%	70.3%	70.6%	71.0%	71.2%	69.9%
Cost of Risk (LLP annualised on Avg Loans) in basis points	12	51	-39	69	32	23	38	-5	28
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	89.7	89.5	+0.2%	88.4	89.5	89.0	87.6	88.7	89.7
Customer Depos (excl. Repos and IC)	102.8	95.1	+8.1%	91.5	95.1	102.2	103.0	102.2	102.8
Total RWA	35.9	36.5	-1.5%	35.8	36.5	35.9	34.4	34.3	35.9
OTHER FIGURES
FTEs (100%)	8,573	8,994	-4.7%	9,057	8,994	9,085	9,030	8,853	8,573

ROAC 5.8% 4.4% 1.4 p.p. 1.2% 7.7% 4.5% 1.2% 6.5% 5.1%

Commercial Bank - Austria

INCOME STATEMENT
------------------

		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	2020	2020	2020	2020	2021	2021
Net interest	282	323	-12.8%	162	162	152	154	142	140
Dividends and other income from equity investments	70	23	n.m.	28	-5	44	36	34	36
Net fees and commissions	294	283	+3.8%	158	125	140	147	150	144
Net trading income	53	4	n.m.	-8	12	11	15	35	18
Net other expenses/income	13	20	-32.9%	6	13	9	6	9	5
OPERATING INCOME	712	653	+9.1%	346	307	356	358	369	343
Payroll costs	-251	-266	-5.6%	-134	-132	-135	-133	-121	-130
Other administrative expenses	-223	-221	+0.8%	-114	-107	-104	-105	-112	-111
Recovery of expenses	0	0	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-13	-4	n.m.	-2	-2	-2	-15	-3	-10
Operating costs	-487	-490	-0.7%	-250	-241	-240	-253	-236	-251
OPERATING PROFIT	225	162	+38.8%	96	66	116	105	133	92
Net write-downs of loans	-9	-84	-89.4%	-85	1	-20	-140	38	-47
NET OPERATING PROFIT	216	78	n.m.	11	67	96	-35	171	45
Other Charges & Provisions	-67	-78	-14.9%	-77	-1	-17	-15	-67	0
o/w Systemic Charges	-67	-83	-19.2%	-78	-5	-17	-7	-67	0
o/w DGS	-37	-18	n.m.	-18	0	-14	-4	-37	0
o/w Bank levies	-1	-39	-97.6%	-35	-3	-3	-3	0	0
o/w SRF	-30	-26	+13.0%	-25	-2	0	0	-30	0
Integration costs	0	0	-100.0%	0	0	0	0	0	0
Net income from investments	18	-56	n.m.	3	-59	5	-43	-1	19
PROFIT BEFORE TAX	167	-56	n.m.	-63	7	84	-93	103	64
CONSOLIDATED PROFIT	157	-42	n.m.	-51	9	75	-32	89	67
INCOME STATEMENT RATIOS
Cost income ratio	68.4%	75.1%	-6.8 p.p.	72.2%	78.4%	67.4%	70.7%	63.9%	73.2%
Cost of Risk (LLP annualised on Avg Loans) in basis points	4	38	-33	75	-1	18	127	-34	42
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	43.2	44.2	-2.1%	44.7	44.2	44.2	43.3	44.1	43.2
Customer Depos (excl. Repos and IC)	51.2	50.0	+2.5%	48.3	50.0	49.0	52.1	51.0	51.2
Total RWA	20.3	23.4	-13.2%	22.7	23.4	22.8	21.3	20.3	20.3
OTHER FIGURES
FTEs (100%)	4,614	4,754	-2.9%	4,789	4,754	4,758	4,687	4,760	4,614
ROAC	13.0%	-3.4%	16.4 p.p.	-7.8%	0.9%	10.5%	-5.3%	14.7%	11.2%

			CIB
INCOME STATEMENT
		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	2020	2020	2020	2020	2021	2021
Net interest	1,165	1,187	-1.9%	577	611	606	607	585	580
Dividends and other income from equity investments	10	-6	n.m.	-6	0	0	18	0	10
Net fees and commissions	387	313	+23.7%	175	138	139	177	192	195
Net trading income	713	264	n.m.	59	205	322	288	437	276
Net other expenses/income	-4	14	n.m.	1	13	6	2	1	-5
OPERATING INCOME	2,271	1,772	+28.1%	805	967	1,072	1,091	1,215	1,056
Payroll costs	-318	-302	+5.0%	-159	-143	-145	-159	-159	-159
Other administrative expenses	-457	-455	+0.5%	-237	-218	-226	-227	-234	-224
Recovery of expenses	1	1	-2.7%	1	0	0	1	1	0
Amortisation & depreciation	-8	-7	+1.1%	-4	-4	-3	-4	-4	-4
Operating costs	-781	-764	+2.3%	-400	-364	-374	-389	-396	-386
OPERATING PROFIT	1,490	1,008	+47.7%	405	603	698	702	820	670
Net write-downs of loans	33	-400	n.m.	-157	-242	-81	-252	67	-34
NET OPERATING PROFIT	1,523	609	n.m.	248	361	617	450	887	636
Other Charges & Provisions	-293	-157	+86.7%	-130	-27	-4	-9	-263	-30
o/w Systemic Charges	-214	-163	+31.0%	-136	-27	-3	-4	-207	-7
o/w DGS	-7	-4	n.m.	-2	-2	-2	-2	-2	-6
o/w Bank levies	-1	-18	-92.6%	-16	-2	-1	-2	-1	-1
o/w SRF	-205	-141	+44.8%	-118	-23	0	0	-204	-1
Integration costs	-3	-28	-88.4%	-27	-1	-1	5	-1	-3
Net income from investments	18	-77	n.m.	-88	12	-20	72	4	14
PROFIT BEFORE TAX	1,244	348	n.m.	3	344	592	518	627	617
CONSOLIDATED PROFIT	816	176	n.m.	-28	204	394	353	409	407
INCOME STATEMENT RATIOS
Cost income ratio	34.4%	43.1%	-8.7 p.p.	49.6%	37.7%	34.9%	35.7%	32.6%	36.5%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-6	54	-59	42	65	23	78	-23	13
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	81.5	94.6	-13.9%	95.3	94.6	87.1	85.8	83.5	81.5
Customer Depos (excl. Repos and IC)	54.7	54.4	+0.7%	55.4	54.4	56.9	58.2	55.1	54.7
Total RWA	88.3	92.5	-4.6%	92.9	92.5	86.4	84.4	81.7	88.3
OTHER FIGURES
FTEs (100%)	3,428	3,502	-2.1%	3,506	3,502	3,476	3,448	3,462	3,428
ROAC	16.4%	3.1%	13.3 p.p.	-1.0%	7.1%	14.4%	13.3%	16.6%	16.2%

(mln Euro)	2021	1H 2020	y/y %	1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
TOTAL REVENUES CIB	2,271	1,772	+28.1%	805	967	1,072	1,091	1,215	1,056
Financing & Advisory (F&A)	812	654	+24.0%	307	347	312	398	396	416
o/w Italy	338	214	+57.7%	76	139	115	146	166	172
o/w Germany	371	356	+4.3%	191	165	148	201	180	191
o/w Austria	108	90	+20.3%	44	46	51	54	53	56
Markets	1,222	865	+41.2%	364	501	646	567	698	524
Global Transaction Banking (GTB)	262	275	-4.8%	144	131	126	142	135	127
Other	-25	-22	+10.4%	-11	-11	-12	-15	-14	-11
TOTAL COSTS CIB	-781	-764	+2.3%	-400	-364	-374	-389	-396	-386
Financing & Advisory (F&A)	-262	-256	+2.3%	-133	-123	-121	-129	-132	-130
o/w Italy	-69	-65	+5.5%	-33	-32	-31	-36	-34	-35
o/w Germany	-166	-164	+1.0%	-87	-78	-77	-80	-85	-81
o/w Austria	-32	-32	+1.4%	-16	-16	-16	-16	-16	-17
Markets	-380	-379	+0.3%	-200	-179	-186	-187	-194	-186
Global Transaction Banking (GTB)	-125	-119	+5.3%	-62	-57	-61	-64	-62	-63
Other	-14	-10	+43.4%	-5	-5	-6	-9	-7	-7
TOTAL LOAN LOSS PROVISIONS CIB	33	-400	n.m.	-157	-242	-81	-252	67	-34
Financing & Advisory (F&A)	49	-363	n.m.	-137	-226	-66	-242	64	-16
o/w Italy	-14	-107	-87.0%	-77	-30	-37	-59	48	-62
o/w Germany	85	-205	n.m.	-43	-162	-22	-86	34	51
o/w Austria	-23	-51	-55.4%	-17	-34	-7	-97	-18	-5
Markets	0	-9	n.m.	-3	-5	3	0	-1	1
Global Transaction Banking (GTB)	-16	-28	-42.2%	-17	-11	-18	-10	4	-20
Other	0	0	n.m.	0	0	0	0	0	0
TOTAL NET OPERATING PROFIT CIB	1,523	609	n.m.	248	361	617	450	887	636
Financing & Advisory (F&A)	598	35	n.m.	37	-2	124	26	329	270
o/w Italy	255	42	n.m.	-34	76	47	51	181	74
o/w Germany	290	-14	n.m.	62	-75	49	34	129	161
o/w Austria	53	7	n.m.	10	-3	28	-59	19	34
Markets	843	478	+76.3%	161	317	464	381	503	340
Global Transaction Banking (GTB)	120	128	-6.1%	66	62	47	68	76	44
Other	-39	-32	+20.2%	-16	-16	-18	-24	-21	-18
RWA CIB	88,278	92,495	-4.6%	92,935	92,495	86,354	84,422	81,695	88,278
Financing & Advisory (F&A)	48,193	48,658	-1.0%	47,024	48,658	46,734	45,030	44,419	48,193
o/w Italy	22,415	20,796	+7.8%	19,660	20,796	20,555	20,503	19,027	22,415
o/w Germany	17,823	20,533	-13.2%	20,709	20,533	18,935	17,523	17,785	17,823
o/w Austria	7,955	7,330	+8.5%	6,655	7,330	7,244	7,004	7,607	7,955
Markets	28,573	30,882	-7.5%	32,624	30,882	27,710	27,263	27,713	28,573
Global Transaction Banking (GTB)	10,366	11,194	-7.4%	11,518	11,194	10,016	10,554	8,381	10,366
Other	1,145	1,762	-35.0%	1,769	1,762	1,894	1,575	1,183	1,145

CIB Division - Additional Disclosure (managerial figures)

4Q 2020	1Q 2021	2Q 2021
1,091	1,215	1,056
398	396	416
146	166	172
201	180	191
54	53	56
567	698	524
142	135	127
-15	-14	-11
-389	-396	-386
-129	-132	-130
-36	-34	-35
-80	-85	-81
-16	-16	-17
-187	-194	-186
-64	-62	-63
-9	-7	-7

-252	67	-34
-242	64	-16
-59	48	-62
-86	34	51
-97	-18	-5
0	-1	1
-10	ব	-20
0	0	0

450	887	636
26	329	270
51	181	74
34	129	161
-59	19	34
381	503	340
68	76	44
-24	-21	-18

84.422	81,695	88,278
45,030	44.419	48,193
20,503	19.027	22.415
17,523	17,785	17.823
7,004	7,607	7.955
27,263	27,713	28,573
10,554	8,381	10,366
1,575	1,183	1,145

GCC

INCOME STATEMENT

		1H		1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	2020	2020	2020	2020	2021	2021
Net interest	-167	-136	+22.8%	-69	-67	-64	-82	-77	-90
Dividends and other income from equity investments	73	77	-5.7%	45	32	30	29	36	37
Net fees and commissions	-19	-15	+23.8%	-14	-1	5	-18	-5	-14
Net trading income	0	29	-98.3%	9	19	4	-3	16	-16
Net other expenses/income	-22	-68	-67.1%	-18	-50	-5	-22	-13	-10
OPERATING INCOME	-135	-113	+19.1%	-48	-66	-31	-96	-42	-93
Payroll costs	-535	-532	+0.6%	-268	-264	-261	-258	-266	-270
Other administrative expenses	747	710	+5.2%	360	350	355	335	386	361
Recovery of expenses	26	26	+1.9%	11	14	10	19	12	14
Amortisation & depreciation	-396	-390	+1.5%	-185	-205	-188	-220	-193	-203
Operating costs	-158	-187	-15.1%	-82	-105	-85	-123	-60	-98
OPERATING PROFIT	-293	-300	-2.2%	-129	-171	-116	-219	-102	-191
Net write-downs of loans	2	14	-83.8%	4	10	-6	-12	4	-2
NET OPERATING PROFIT	-291	-286	+1.7%	-126	-161	-121	-231	-98	-193
Other Charges & Provisions	-193	-188	+2.8%	-89	-99	-71	-16	-77	-116
o/w Systemic Charges	-158	-168	-6.1%	-77	-91	-74	-29	-69	-89
o/w DGS	0	-8	-100.0%	-3	-5	-47	-2	0	0
o/w Bank levies	-50	-54	-6.8%	-27	-26	-27	-27	-27	-23
o/w SRF	-108	-106	+1.8%	-46	-60	0	0	-42	-66
Integration costs	-3	-265	-98.9%	-264	-1	-24	7	0	-3
Net income from investments	-261	-1,090	-76.0%	-1,156	66	-134	153	-226	-36
PROFIT BEFORE TAX	-749	-1,829	-59.1%	-1,635	-194	-350	-87	-401	-348
CONSOLIDATED PROFIT	-521	-2,170	-76.0%	-2,040	-130	-202	-934	-259	-263
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 (bn)
Customers Loans (excl. Repos and IC)	3.3	3.1	+6.2%	3.9	3.1	3.9	3.1	2.8	3.3
Customer Depos (excl. Repos and IC)	3.0	2.1	+45.5%	2.3	2.1	2.3	2.5	2.3	3.0
Total RWA	40.8	40.4	+0.9%	42.1	40.4	39.9	39.9	38.9	40.8
OTHER FIGURES
FTEs (100%)	14,006	14,149	-1.0%	14,093	14,149	14,223	14,160	14,143	14,006
o/w COO FTEs	11,294	11,433	-1.2%	11,375	11,433	11,462	11,373	11,448	11,294 16

CEE Division

INCOME STATEMENT

	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	at const. FX	2020	2020	2020	2020	2021	2021
Net interest	1,114	1,190	-6.4%	-3.5%	631	559	565	540	551	564
Dividends and other income from equity investments	11	13	-15.6%	-15.5%	6	8	6	5	5	6
Net fees and commissions	361	360	+0.3%	+1.5%	187	173	173	181	174	187
Net trading income	221	234	-5.3%	-4.2%	128	106	74	63	116	106
Net other expenses/income	15	11	+34.0%	+33.2%	7	4	4	2	6	10
OPERATING INCOME	1,724	1,809	-4.7%	-2.4%	959	850	823	790	851	873
Payroll costs	-378	-390	-3.0%	-0.1%	-200	-190	-184	-174	-187	-191
Other administrative expenses	-283	-292	-3.2%	-0.9%	-146	-147	-145	-150	-140	-142
Recovery of expenses	21	21	-1.9%	+1.7%	11	10	10	11	10	11
Amortisation & depreciation	-97	-94	+3.3%	+7.3%	-47	-46	-47	-55	-47	-50
Operating costs	-737	-754	-2.3%	+0.4%	-382	-373	-366	-368	-364	-373
OPERATING PROFIT	987	1,055	-6.4%	-4.5%	577	477	458	422	487	500
Net write-downs of loans	-127	-495	-74.5%	-74.9%	-297	-199	-165	-313	-114	-13
NET OPERATING PROFIT	860	559	+53.9%	+57.6%	281	279	292	109	373	487
Other Charges & Provisions	-130	-148	-12.3%	-10.7%	-132	-16	-14	-18	-110	-20
o/w Systemic Charges	-117	-149	-21.0%	-19.4%	-135	-14	-6	-9	-109	-9
o/w DGS	-32	-49	-33.3%	-30.8%	-35	-13	-7	-9	-34	2
o/w Bank levies	-17	-24	-30.3%	-27.6%	-20	-4	0	0	-16	-1
o/w SRF	-68	-76	-10.0%	-9.2%	-79	4	0	0	-59	-9
Integration costs	0	-15	-97.6%	-97.6%	-15	0	-4	-47	0	0
Net income from investments	9	-4	n.m.	n.m.	4	-8	15	-4	5	4
PROFIT BEFORE TAX	739	392	+88.4%	+92.4%	138	254	288	39	268	471
CONSOLIDATED PROFIT	595	333	+78.9%	+83.0%	115	218	225	43	213	382
INCOME STATEMENT RATIOS
Cost income ratio	42.8%	41.7%	+1.0 p.p.		39.8%	43.9%	44.4%	46.6%	42.8%	42.7%
Cost of Risk (LLP annualised on Avg Loans) in basis points	40	149	-110		177	121	103	200	72	8
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	64.1	65.0	-1.3%		66.1	65.0	62.5	61.9	62.8	64.1
Customer Depos (excl. Repos and IC)	74.6	71.8	+4.0%		70.5	71.8	70.2	71.3	73.0	74.6
Total RWA	56.2	58.4	-3.8%		63.8	58.4	55.7	55.0	55.8	56.2
OTHER FIGURES
FTEs (100%)	23,697	24,237	-2.2%		24,110	24,237	24,155	23,828	23,813	23,697
ROAC	16.9%	7.7%	+9.2 p.p.		4.9%	10.7%	10.6%	1.2%	11.5%	22.3%

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

				CEE - Russia
INCOME STATEMENT
(mln Euro)	2021	1H 2020	y/y %	y/y % at const. FX	1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
Net interest	191	233	-18.2%	-4.5%	118	115	107	93	96	95
Dividends and other income from equity investments	8	10	-18.7%	-18.7%	4	6	5	3	4	4
Net fees and commissions	31	50	-38.9%	-28.6%	28	23	16	16	15	16
Net trading income	22	50	-56.4%	-49.1%	38	12	1	6	11	11
Net other expenses/income	0	0	n.m.	n.m.	0	0	0	-1	0	0
OPERATING INCOME	250	343	-27.0%	-15.1%	188	155	129	117	125	125
Payroll costs	-60	-69	-12.5%	+2.2%	-36	-33	-28	-25	-30	-30
Other administrative expenses	-33	-39	-17.0%	-3.1%	-18	-21	-18	-18	-16	-16
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-21	-23	-7.0%	+8.6%	-12	-11	-10	-10	-9	-12
Operating costs	-114	-131	-12.9%	+1.7%	-66	-64	-56	-52	-56	-58
OPERATING PROFIT	137	212	-35.7%	-25.5%	121	91	73	65	70	67
Net write-downs of loans	3	-102	n.m.	n.m.	-45	-57	-43	-38	-20	22
NET OPERATING PROFIT	139	111	+25.7%	+46.2%	76	35	30	27	50	89
Other Charges & Provisions	-7	-11	-36.3%	-25.5%	-5	-6	0	-4	-4	-3
o/w Systemic Charges	-7	-12	-41.9%	-32.1%	-6	-6	0	-3	-3	-3
o/w DGS	-7	-12	-41.9%	-32.1%	-6	-6	0	-3	-3	-3
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	0	0	n.m.	n.m.	0	0	0	0	0	0
Integration costs	0	0	n.m.	n.m.	0	0	0	-20	0	0
Net income from investments	0	-1	-73.0%	-68.3%	1	-2	14	-1	0	0
PROFIT BEFORE TAX	132	99	+33.8%	+55.6%	72	27	44	2	46	86
CONSOLIDATED PROFIT	106	80	+32.2%	+53.5%	58	22	39	2	37	68
INCOME STATEMENT RATIOS
Cost income ratio	45.4%	38.1%	+7.3 p.p.		35.4%	41.3%	43.3%	44.6%	44.3%	46.5%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-7	209	-216		180	241	208	209	104	-111
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	7.8	9.0	-13.4%		9.6	9.0	7.4	7.0	7.8	7.8
Customer Depos (excl. Repos and IC)	10.5	13.3	-21.3%		13.7	13.3	10.7	10.3	10.7	10.5
Total RWA	9.7	11.3	-14.5%		12.2	11.3	9.5	9.2	9.8	9.7
OTHER FIGURES

FTEs (100%) 4,058 4,088 -0.7% 4,095 4,088 4,003 3,849 4,029 4,058 ROAC 15.7% 9.2% +6.5 p.p. 13.0% 4.9% 7.5% -1.4% 10.1% 21.2%

18

CEE - Czech Republic & Slovakia

INCOME STATEMENT

	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	at const. FX	2020	2020	2020	2020	2021	2021
Net interest	235	241	-2.5%	-4.3%	141	100	105	110	113	122
Dividends and other income from equity investments	1	1	-2.1%	-2.1%	1	0	0	1	0	1
Net fees and commissions	68	67	+0.8%	-1.0%	35	33	32	35	32	36
Net trading income	47	42	+13.3%	+11.2%	10	32	22	25	22	25
Net other expenses/income	3	3	+19.1%	+18.3%	2	1	2	5	1	2
OPERATING INCOME	354	354	+0.1%	-1.6%	188	166	160	176	169	185
Payroll costs	-71	-68	+4.8%	+2.9%	-36	-32	-35	-35	-34	-37
Other administrative expenses	-51	-51	+1.6%	-0.2%	-25	-26	-26	-29	-26	-26
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-19	-18	+7.7%	+5.8%	-9	-9	-9	-9	-10	-10
Operating costs	-142	-137	+4.0%	+2.2%	-70	-67	-70	-73	-70	-72
OPERATING PROFIT	212	217	-2.3%	-4.0%	118	100	90	103	99	113
Net write-downs of loans	-24	-70	-65.1%	-65.6%	-47	-23	-11	-47	-28	3
NET OPERATING PROFIT	188	147	+27.6%	+25.2%	71	77	79	56	72	116
Other Charges & Provisions	-28	-28	+0.2%	-1.6%	-25	-3	0	-2	-23	-4
o/w Systemic Charges	-28	-28	+0.2%	-1.7%	-25	-3	0	0	-23	-4
o/w DGS	-2	-1	+11.0%	+9.0%	-1	0	0	0	-2	0
o/w Bank levies	0	-8	-100.0%	-100.0%	-4	-4	0	0	0	0
o/w SRF	-26	-18	+44.3%	+41.7%	-19	1	0	0	-22	-4
Integration costs	0	0	n.m.	n.m.	0	0	0	-2	0	0
Net income from investments	1	-3	n.m.	n.m.	0	-3	0	2	0	1
PROFIT BEFORE TAX	161	116	+38.5%	+35.7%	46	70	79	53	49	113
CONSOLIDATED PROFIT	127	95	+33.0%	+30.4%	37	59	61	38	38	89
INCOME STATEMENT RATIOS
Cost income ratio	40.1%	38.6%	+1.5 p.p.		37.3%	40.1%	43.9%	41.5%	41.3%	39.0%
Cost of Risk (LLP annualised on Avg Loans) in basis points	26	82	-56		110	54	27	109	61	-7
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	18.5	17.2	+8.0%		17.0	17.2	17.1	17.6	17.9	18.5
Customer Depos (excl. Repos and IC)	17.9	16.0	+12.0%		16.2	16.0	16.2	16.1	17.3	17.9
Total RWA	13.6	12.8	+6.0%		14.1	12.8	12.6	12.7	13.1	13.6
OTHER FIGURES
FTEs (100%)	3,238	3,353	-3.4%		3,342	3,353	3,340	3,340	3,313	3,238
ROAC	15.4%	10.3%	+5.0 p.p.		7.5%	13.2%	14.0%	9.2%	8.8%	21.7%

CEE - Hungary

INCOME STATEMENT

OTHER FIGURES

	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	at const. FX	2020	2020	2020	2020	2021	2021
Net interest	101	94	+7.4%	+11.3%	48	47	48	49	50	51
Dividends and other income from equity investments	0	0	-12.5%	-9.3%	0	0	0	0	0	0
Net fees and commissions	35	35	-0.2%	+3.5%	18	17	18	17	16	19
Net trading income	25	24	+4.7%	+8.6%	15	9	12	10	12	13
Net other expenses/income	1	2	-7.9%	-5.9%	2	0	1	-2	1	1
OPERATING INCOME	163	155	+5.1%	+8.9%	82	73	78	74	79	84
Payroll costs	-30	-29	+3.1%	+6.8%	-15	-14	-14	-15	-14	-15
Other administrative expenses	-42	-41	+2.1%	+5.9%	-21	-20	-21	-22	-20	-22
Recovery of expenses	21	21	-2.1%	+1.5%	11	10	10	11	10	11
Amortisation & depreciation	-7	-5	+45.3%	+50.6%	-2	-2	-3	-6	-3	-4
Operating costs	-57	-53	+8.0%	+12.0%	-27	-26	-27	-33	-28	-30
OPERATING PROFIT	106	102	+3.6%	+7.4%	56	46	52	41	51	55
Net write-downs of loans	-14	-27	-50.2%	-48.4%	-25	-2	-19	-18	-7	-6
NET OPERATING PROFIT	92	75	+23.1%	+27.6%	30	44	32	23	44	48
Other Charges & Provisions	-29	-26	+9.7%	+13.7%	-25	-1	0	3	-26	-3
o/w Systemic Charges	-29	-28	+3.9%	+7.7%	-27	-1	0	2	-26	-3
o/w DGS	-4	-6	-27.9%	-25.2%	-6	0	0	2	-4	0
o/w Bank levies	-17	-16	+2.9%	+6.7%	-16	0	0	0	-16	-1
o/w SRF	-8	-6	+38.8%	+43.9%	-5	-1	0	0	-7	-1
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	0	2	-98.9%	-92.9%	3	-1	1	-2	1	-1
PROFIT BEFORE TAX	63	50	+26.1%	+30.9%	8	42	33	24	19	44
CONSOLIDATED PROFIT	53	41	+27.3%	+32.2%	5	36	27	20	15	38
INCOME STATEMENT RATIOS
Cost income ratio	35.2%	34.2%	+0.9 p.p.		32.5%	36.2%	34.1%	44.1%	35.2%	35.2%
Cost of Risk (LLP annualised on Avg Loans) in basis points	61	122	-61		223	19	173	159	66	55
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	4.5	4.4	+2.1%		4.5	4.4	4.4	4.4	4.4	4.5
Customer Depos (excl. Repos and IC)	7.5	5.8	+29.1%		5.5	5.8	6.1	7.2	6.7	7.5
Total RWA	4.4	4.0	+9.5%		4.5	4.0	4.1	4.1	4.1	4.4

FTEs (100%) 1,771 1,754 +1.0% 1,759 1,754 1,759 1,770 1,763 1,771 ROAC 19.0% 12.9% +6.0 p.p. 1.7% 25.3% 18.4% 14.7% 9.5% 28.1%

CEE - Slovenia

INCOME STATEMENT

	1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	at const. FX	2020	2020	2020	2020	2021	2021
Net interest	23	23	-0.5%	-0.5%	11	11	11	11	11	12
Dividends and other income from equity investments	0	0	n.m.	n.m.	0	0	0	0	0	0
Net fees and commissions	11	11	+0.2%	+0.2%	6	5	6	6	6	5
Net trading income	6	-1	n.m.	n.m.	-2	1	1	3	3	3
Net other expenses/income	0	0	-10.0%	-10.0%	0	0	0	0	0	0
OPERATING INCOME	40	33	+22.5%	+22.5%	15	17	18	21	20	20
Payroll costs	-13	-12	+1.9%	+1.9%	-6	-6	-6	-6	-6	-6
Other administrative expenses	-6	-6	+5.0%	+5.0%	-3	-3	-3	-3	-3	-3
Recovery of expenses	0	0	-100.0%	-100.0%	0	0	0	0	0	0
Amortisation & depreciation	-3	-3	-5.9%	-5.9%	-2	-1	-1	-3	-1	-1
Operating costs	-22	-21	+1.8%	+1.8%	-11	-11	-11	-13	-11	-11
OPERATING PROFIT	18	11	+62.7%	+62.7%	4	7	7	8	9	9
Net write-downs of loans	1	-7	n.m.	n.m.	-5	-3	0	2	2	-1
NET OPERATING PROFIT	19	4	n.m.	n.m.	0	4	7	10	11	7
Other Charges & Provisions	-3	-3	-2.6%	-2.6%	-3	0	0	0	-3	0
o/w Systemic Charges	-3	-3	+2.8%	+2.8%	-3	0	0	0	-3	0
o/w DGS	-1	-1	-2.8%	-2.8%	-1	0	0	0	-1	0
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	-2	-1	+6.9%	+6.9%	-2	0	0	0	-2	0
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	16	1	n.m.	n.m.	-3	4	7	10	9	7
CONSOLIDATED PROFIT	13	1	n.m.	n.m.	-2	3	5	7	7	6
INCOME STATEMENT RATIOS
Cost income ratio	54.8%	65.9%	-11.2 p.p.		71.2%	61.4%	59.0%	61.3%	53.5%	56.1%

Cost income ratio	54.8%	65.9%	-11.2 p.p.	71.2%	61.4%	59.0%	61.3%	53.5%	56.1%
Cost of Risk (LLP annualised on Avg Loans) in basis points	-6	73	-79	93	52	10	-47	-42	30
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	1.8	1.9	-3.4%	2.0	1.9	1.9	1.8	2.0	1.8
Customer Depos (excl. Repos and IC)	2.1	2.1	+2.6%	2.0	2.1	2.0	2.2	2.3	2.1
Total RWA	1.4	1.5	-1.8%	1.5	1.5	1.5	1.4	1.5	1.4
OTHER FIGURES
FTEs (100%)	539	548	-1.7%	535	548	542	538	535	539
ROAC	14.6%	0.7%	+13.8 p.p.	-5.3%	6.8%	10.6%	14.3%	15.8%	13.4%

				CEE - Croatia
INCOME STATEMENT
(mln Euro)	1H 2021	2020	y/y %	y/y % at const. FX	1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
Net interest	153	166	-8.0%	-7.8%	86	81	80	81	77	76
Dividends and other income from equity investments	2	2	-13.4%	-13.4%	1	1	1	1	1	1
Net fees and commissions	68	66	+2.6%	+2.8%	35	31	35	32	32	36
Net trading income	24	31	-24.2%	-24.0%	24	7	5	-6	13	11
Net other expenses/income	5	4	+53.1%	+53.4%	2	1	2	-2	2	4
OPERATING INCOME	251	269	-6.5%	-6.3%	148	121	122	106	124	127
Payroll costs	-59	-59	-0.2%	+0.1%	-31	-28	-28	-27	-29	-29
Other administrative expenses	-37	-36	+1.3%	+1.5%	-19	-18	-19	-21	-18	-18
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-11	-12	-9.7%	-9.5%	-6	-6	-6	-8	-6	-6
Operating costs	-107	-108	-0.8%	-0.6%	-55	-52	-54	-56	-53	-53
OPERATING PROFIT	145	161	-10.4%	-10.2%	93	68	68	50	71	74
Net write-downs of loans	-22	-84	-73.5%	-73.5%	-50	-34	-36	-49	-10	-12
NET OPERATING PROFIT	122	77	+58.0%	+58.3%	43	35	32	0	61	62

o/w DGS	0	-9	-100.0%	-100.0%	-5	-5	-4	-5	0	0
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	-10	-9	+11.3%	+11.5%	-11	2	0	0	-6	-3
Integration costs	0	0	n.m.	n.m.	0	0	0	-21	0	0
Net income from investments	-1	-2	-40.7%	-40.5%	-1	-1	1	2	0	-1
PROFIT BEFORE TAX	106	59	+80.8%	+81.2%	28	31	23	-27	54	53
CONSOLIDATED PROFIT	74	40	+85.6%	+86.0%	20	20	16	-19	37	37

Other Charges & Provisions -15 -17 -10.8% -10.6% -15 -2 -10 -9 -7 -8 o/w Systemic Charges -10 -18 -46.4% -46.3% -16 -2 -4 -5 -6 -3

INCOME STATEMENT RATIOS
Cost income ratio	42.5%	40.0%	+2.5 p.p.	37.3%	43.4%	44.0%	52.9%	43.0%	42.0%
Cost of Risk (LLP annualised on Avg Loans) in basis points	49	180	-131	215	144	157	215	46	52
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	9.4	9.2	+1.2%	9.2	9.2	9.1	9.1	8.8	9.4
Customer Depos (excl. Repos and IC)	13.8	13.1	+5.3%	12.1	13.1	13.0	13.0	13.1	13.8
Total RWA	6.5	7.0	-7.0%	7.9	7.0	6.5	6.6	6.5	6.5
OTHER FIGURES
FTEs (100%)	3,551	3,807	-6.7%	3,779	3,807	3,773	3,679	3,571	3,551
ROAC	20.0%	8.0%	+12.0 p.p.	7.5%	8.6%	5.4%	-14.1%	19.9%	20.1%

CEE - Romania

INCOME STATEMENT

OTHER FIGURES

1H		y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
2021	2020	%	at const. FX	2020	2020	2020	2020	2021	2021
134	134	-0.1%	+1.7%	71	63	66	63	65	68
0	0	+11.0%	+12.9%	0	0	0	0	0	0
38	34	+13.2%	+15.2%	17	17	16	16	19	19
45	50	-9.7%	-8.1%	23	27	18	22	25	20
4	0	n.m.	n.m.	0	0	-1	2	1	2
221	218	+1.3%	+3.1%	111	107	100	103	110	111
-46	-45	+2.2%	+4.0%	-23	-23	-23	-21	-23	-23
-25	-25	-1.5%	+0.2%	-13	-12	-12	-15	-12	-12
0	0	n.m.	n.m.	0	0	0	0	0	0
-15	-14	+8.0%	+9.9%	-7	-7	-7	-8	-7	-8
-86	-84	+2.1%	+3.9%	-43	-42	-42	-43	-43	-43
135	134	+0.8%	+2.6%	68	66	58	60	68	67
-9	-47	-81.3%	-81.0%	-39	-8	-19	-53	-20	11
126	87	+45.4%	+47.9%	29	57	39	7	48	78
-16	-12	+31.5%	+33.8%	-11	-1	2	3	-16	0
-15	-10	+47.4%	+50.0%	-10	0	0	0	-15	0
-1	-1	-10.9%	-9.3%	-1	0	0	0	-1	0
0	0	-100.0%	-100.0%	0	0	0	0	0	0
-14	-10	+50.1%	+52.7%	-10	0	0	0	-15	0
0	0	n.m.	n.m.	0	0	0	0	0	0
1	1	+93.3%	+97.7%	1	0	0	0	0	1
111	75	+48.0%	+50.6%	19	57	41	9	32	79
92	62	+47.6%	+50.2%	15	48	25	7	26	65
									39.2%
									-72
									6.1
									7.0
	39.0% 29 6.1	38.7% 154 6.0	+0.3 p.p. -125 +2.2%		38.5% 252 6.1	38.8% 55 6.0	41.9% 126 5.9	42.2% 358 5.9	38.7% 132 6.0 7.0 6.8 +2.8% 6.7 6.8 6.9 7.3 6.9

FTEs (100%) 3,373 3,427 -1.6% 3,367 3,427 3,420 3,397 3,400 3,373 ROAC 25.4% 15.3% +10.2 p.p. 6.3% 24.6% 11.2% 2.0% 13.1% 37.8%

				CEE - Bulgaria
INCOME STATEMENT
(mln Euro)	1H 2021	2020	y/y %	y/y % at const. FX	1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
Net interest	131	132	-0.8%	-0.8%	68	65	64	64	64	67
Dividends and other income from equity investments	0	0	-50.7%	-50.7%	0	0	0	0	0	0
Net fees and commissions	63	56	+12.1%	+12.1%	29	27	31	32	30	33
Net trading income	26	25	+4.0%	+4.0%	15	10	10	10	13	13
Net other expenses/income	1	1	+55.9%	+55.9%	1	0	1	0	1	1
OPERATING INCOME	222	215	+3.4%	+3.4%	112	103	106	107	109	114
Payroll costs	-44	-42	+5.7%	+5.7%	-22	-20	-20	-21	-22	-22
Other administrative expenses	-29	-28	+3.2%	+3.2%	-15	-13	-15	-16	-15	-14
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-10	-9	+10.2%	+10.2%	-5	-5	-5	-6	-5	-5
Operating costs	-83	-79	+5.3%	+5.3%	-41	-38	-40	-43	-42	-41
OPERATING PROFIT	139	136	+2.3%	+2.3%	71	65	66	65	67	72
Net write-downs of loans	-30	-55	-44.3%	-44.3%	-25	-30	-23	-35	-15	-16
NET OPERATING PROFIT	109	81	+33.5%	+33.5%	46	35	43	30	52	57
Other Charges & Provisions	-11	-37	-69.8%	-69.8%	-39	2	0	-2	-19	8

CONSOLIDATED PROFIT	90	40	n.m.	n.m.	7	33	38	20	32	58
PROFIT BEFORE TAX	101	45	n.m.	n.m.	7	37	42	23	36	65
Net income from investments	3	0	n.m.	n.m.	0	0	-1	-3	3	0
Integration costs	0	0	n.m.	n.m.	0	0	0	-3	0	0
o/w SRF	0	-24	-100.0%	-100.0%	-26	2	0	0	0	0
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w DGS	-12	-13	-5.7%	-5.7%	-13	0	0	0	-20	8
o/w Systemic Charges	-12	-37	-67.3%	-67.3%	-39	2	0	0	-20	8
Other Charges & Provisions	-11	-37	-69.8%	-69.8%	-39	2	0	-2	-19	8

INCOME STATEMENT RATIOS
Cost income ratio	37.4%	36.8%	+0.7 p.p.	36.9%	36.6%	37.9%	39.6%	38.6%	36.3%
Cost of Risk (LLP annualised on Avg Loans) in basis points	97	176	-79	158	193	150	225	93	100
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	6.3	6.1	+2.8%	6.3	6.1	6.2	6.3	6.3	6.3
Customer Depos (excl. Repos and IC)	9.9	9.2	+7.4%	8.9	9.2	9.6	9.5	10.1	9.9
Total RWA	5.7	5.5	+4.6%	6.4	5.5	5.7	5.6	5.7	5.7
OTHER FIGURES
FTEs (100%)	4,143	4,184	-1.0%	4,127	4,184	4,271	4,206	4,184	4,143
ROAC	25.9%	9.4%	+16.4 p.p.	2.2%	17.0%	18.6%	10.3%	18.2%	33.4%

				CEE - Bosnia
INCOME STATEMENT
(mln Euro)	1H 2021	2020	y/y %	y/y % at const. FX	1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
Net interest	46	51	-8.8%	-8.8%	26	25	25	23	22	24
Dividends and other income from equity investments	0	0	n.m.	n.m.	0	0	0	0	0	0
Net fees and commissions	23	22	+4.4%	+4.4%	11	11	11	11	11	11
Net trading income	3	3	+3.5%	+3.5%	2	2	2	2	2	2
Net other expenses/income	1	2	-26.1%	-26.1%	1	1	0	1	1	1
OPERATING INCOME	74	78	-5.0%	-5.0%	40	38	38	37	36	38
Payroll costs	-20	-20	+0.7%	+0.7%	-10	-10	-10	-10	-10	-10
Other administrative expenses	-13	-13	-1.2%	-1.2%	-7	-7	-6	-7	-7	-6
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-5	-5	-4.1%	-4.1%	-2	-3	-2	-2	-3	-2
Operating costs	-37	-38	-0.6%	-0.6%	-19	-19	-19	-19	-19	-18
OPERATING PROFIT	36	40	-9.1%	-9.1%	21	19	20	17	17	20
Net write-downs of loans	-5	-9	-42.0%	-42.0%	-7	-1	-5	-4	-3	-2
NET OPERATING PROFIT	31	31	-0.1%	-0.1%	14	17	15	13	14	17
Other Charges & Provisions	-4	-4	+3.0%	+3.0%	-2	-2	-2	-2	-2	-2
o/w Systemic Charges	-4	-4	+6.3%	+6.3%	-2	-2	-2	-2	-2	-2
o/w DGS	-4	-4	+6.3%	+6.3%	-2	-2	-2	-2	-2	-2

o/w Bank levies 0 0 n.m. n.m. 0 0 0 0 0 0 o/w SRF 0 0 n.m. n.m. 0 0 0 0 0 0

Integration costs 0 0 n.m. n.m. 0 0 0 0 0 0 Net income from investments 1 0 n.m. n.m. 0 0 0 -1 1 0 PROFIT BEFORE TAX 29 27 +6.2% +6.2% 12 15 13 10 13 16 CONSOLIDATED PROFIT 22 21 +8.6% +8.6% 9 12 10 8 10 12

INCOME STATEMENT RATIOS
Cost income ratio	50.8%	48.6%	+2.2 p.p.	47.2%	50.1%	48.6%	52.4%	53.4%	48.4%
Cost of Risk (LLP annualised on Avg Loans) in basis points	47	75	-28	122	26	91	79	50	44
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	2.1	2.2	-2.5%	2.3	2.2	2.1	2.1	2.1	2.1
Customer Depos (excl. Repos and IC)	3.3	3.0	+9.4%	3.0	3.0	3.1	3.1	3.2	3.3
Total RWA	2.5	2.6	-5.2%	2.8	2.6	2.6	2.6	2.5	2.5
OTHER FIGURES
FTEs (100%)	1,584	1,615	-1.9%	1,627	1,615	1,606	1,593	1,584	1,584
ROAC	15.2%	11.0%	+4.2 p.p.	9.9%	12.2%	10.1%	8.7%	13.5%	17.0%

				CEE - Serbia
INCOME STATEMENT		1H	y/y	y/y %	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	at const. FX	2020	2020	2020	2020	2021	2021
Net interest	55	56	-1.8%	-1.8%	30	26	28	28	28	28
Dividends and other income from equity investments	0	0	n.m.	n.m.	0	0	0	0	0	0
Net fees and commissions	18	14	+25.2%	+25.2%	7	7	9	8	8	10
Net trading income	11	13	-12.9%	-12.9%	5	8	2	4	6	5

Net interest	55	56	-1.8%	-1.8%	30	26	28	28	28	28
Dividends and other income from equity investments	0	0	n.m.	n.m.	0	0	0	0	0	0
Net fees and commissions	18	14	+25.2%	+25.2%	7	7	9	8	8	10
Net trading income	11	13	-12.9%	-12.9%	5	8	2	4	6	5
Net other expenses/income	0	0	n.m.	n.m.	0	0	0	-2	0	0
OPERATING INCOME	84	83	+0.5%	+0.5%	42	42	38	39	42	42
Payroll costs	-17	-17	+2.6%	+2.5%	-8	-8	-8	-8	-9	-9
Other administrative expenses	-13	-11	+13.6%	+13.6%	-6	-6	-7	-6	-6	-6
Recovery of expenses	0	0	n.m.	n.m.	0	0	0	0	0	0
Amortisation & depreciation	-5	-5	+3.8%	+3.8%	-2	-2	-3	-3	-3	-3
Operating costs	-35	-33	+6.5%	+6.5%	-16	-17	-18	-17	-17	-18
OPERATING PROFIT	49	51	-3.3%	-3.3%	26	25	21	22	24	25
Net write-downs of loans	-13	-10	+29.7%	+29.6%	-8	-2	-9	-14	-7	-6
NET OPERATING PROFIT	36	41	-11.4%	-11.4%	17	23	12	8	17	19
Other Charges & Provisions	-9	-3	n.m.	n.m.	-2	-2	-4	-5	-2	-7
o/w Systemic Charges	-2	-2	+15.3%	+15.3%	-1	-1	-1	-1	-1	-1
o/w DGS	-2	-2	+15.3%	+15.3%	-1	-1	-1	-1	-1	-1
o/w Bank levies	0	0	n.m.	n.m.	0	0	0	0	0	0
o/w SRF	0	0	n.m.	n.m.	0	0	0	0	0	0
Integration costs	0	0	n.m.	n.m.	0	0	0	0	0	0
Net income from investments	4	1	n.m.	n.m.	1	0	0	0	-1	4
PROFIT BEFORE TAX	31	38	-19.2%	-19.2%	17	21	7	3	15	16
CONSOLIDATED PROFIT	27	34	-19.9%	-19.9%	15	19	6	5	13	14

INCOME STATEMENT RATIOS
Cost income ratio	41.7%	39.4%	+2.3 p.p.	39.0%	39.7%	45.8%	43.7%	41.5%	41.9%
Cost of Risk (LLP annualised on Avg Loans) in basis points	103	81	+22	133	29	145	223	112	93
VOLUMES (bn)
Customers Loans (excl. Repos and IC)	2.5	2.5	+0.0%	2.5	2.5	2.5	2.5	2.5	2.5
Customer Depos (excl. Repos and IC)	2.7	2.5	+7.6%	2.3	2.5	2.6	2.5	2.6	2.7
Total RWA	2.6	2.7	-4.4%	2.7	2.7	2.7	2.5	2.6	2.6
OTHER FIGURES
FTEs (100%)	1,258	1,232	+2.1%	1,233	1,232	1,231	1,258	1,254	1,258
ROAC	14.1%	13.9%	+0.2 p.p.	12.6%	15.4%	3.4%	4.3%	13.1%	15.0%

	Non Core
INCOME STATEMENT

	1H y/y			1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	2020	2020	2020	2020	2021	2021
Net interest	-18	-15	+18.1%	-6	-9	-2	-6	-11	-7
Dividends and other income from equity investments	0	0	n.m.	0	0	0	0	0	0
Net fees and commissions	2	3	-41.6%	2	2	1	1	1	1
Net trading income	-12	-12	+3.6%	-3	-9	3	4	-9	-3
Net other expenses/income	1	-3	n.m.	-1	-3	-2	-20	2	0
OPERATING INCOME	-26	-26	+0.1%	-8	-19	1	-21	-18	-9
Payroll costs	-10	-13	-27.1%	-7	-6	-6	-5	-5	-5
Other administrative expenses	-36	-56	-34.7%	-28	-28	-28	-23	-18	-19
Recovery of expenses	4	6	-33.2%	4	3	3	7	2	2
Amortisation & depreciation	0	0	+12.9%	0	0	0	0	0	0
Operating costs	-42	-63	-33.1%	-31	-32	-32	-21	-21	-21
OPERATING PROFIT	-68	-89	-23.2%	-39	-51	-31	-42	-39	-30
Net write-downs of loans	69	89	-22.3%	77	12	31	-121	27	42
NET OPERATING PROFIT	0	-1	n.m.	38	-39	0	-162	-11	12
Other Charges & Provisions	-33	3	n.m.	6	-3	2	-24	-16	-17
o/w Systemic Charges	-14	-15	-8.8%	-13	-3	-1	-1	-14	-1
o/w DGS	0	0	n.m.	0	0	0	0	0	0
o/w Bank levies	-1	-1	-46.7%	-1	-1	-1	-1	0	0
o/w SRF	-13	-14	-5.3%	-12	-2	0	0	-13	0
Integration costs	0	-14	n.m.	-14	0	0	2	0	0
Net income from investments	10	-120	n.m.	-24	-96	-1	-24	-1	12
PROFIT BEFORE TAX	-23	-132	-83.0%	6	-138	1	-208	-28	6
CONSOLIDATED PROFIT	8	-82	n.m.	-2	-80	34	-185	-21	29
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 (bn)
Customers Loans (excl. Repos and IC)	0.7	1.6	-55.9%	1.7	1.6	1.4	0.8	0.7	0.7
Customer Depos (excl. Repos and IC)	0.5	0.4	+5.0%	0.5	0.4	0.5	0.5	0.4	0.5
Total RWA	5.2	9.2	-43.0%	9.6	9.2	8.6	7.6	6.1	5.2
OTHER FIGURES

FTEs (100%) 188 277 -32.2% 288 277 263 211 205 188 ROAC n.m. n.m. n.m. n.m. n.m. n.m. n.m. n.m. n.m.

Fees - Details Group

		1H	y/y	1Q	2Q	3Q	4Q	1Q	2Q
(mln Euro)	2021	2020	%	2020	2020	2020	2020	2021	2021
GROUP
Investment fees	1,435	1,108	+29.6%	620	487	546	592	717	718
Financing fees	843	840	+0.4%	438	402	371	397	431	413
Transactional fees	1,083	1,049	+3.3%	559	489	550	516	540	543
TOTAL NET COMMISSIONS	3,362	2,997	+12.2%	1,618	1,378	1,467	1,504	1,688	1,674

N. of Branches

ACTUAL FIGURES

	1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
Western Europe	2,787	2,787	2,726	2,664	2,664	2,553
Italy	2,328	2,328	2,291	2,229	2,229	2,118
Germany	337	337	313	313	313	313
Austria	122	122	122	122	122	122
CEE	863	852	848	826	816	811
Russia	88	87	84	79	78	75
Czech Republic & Slovakia	119	114	114	104	104	104
Hungary	55	55	55	54	54	54
Slovenia	21	21	21	19	19	19
Croatia	114	114	113	113	108	107
Romania	134	134	134	135	135	134
Bulgaria	150	145	145	143	140	140
Bosnia	110	110	110	107	106	106
Serbia	72	72	72	72	72	72
Total Group	3,650	3,639	3,574	3,490	3,480	3,364

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