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UniCredit Bank Czech Republic posts net profit of CZK 2,768 million for 2009

• After subtracting one-off gains from the sales in 2008 of HYPO stavební spořitelna (HYST) and the ownership share in the PSE, UniCredit Bank Czech Republic's net profit from last year shows a decrease year on year by 26.4%.
• Clients' deposits increased year on year by 0.6%.
• The bank's total assets decreased by 5.0% year on year.
• Loans to clients decreased by 3.5% in comparison to 31 December 2008.
• The Bank's equity grew by 8.9% compared to the same date in the previous year, and capital adequacy rose from 10.06% to 12.61% (unaudited data).

UniCredit Bank Czech Republic's profit after tax decreased from CZK 4,911 million (for full year 2008) to CZK 2,768 million (for full year 2009).

Jiří Kunert, CEO and Chairman of the Board of Directors of UniCredit Bank Czech Republic, had the following to say: "UniCredit Bank, which still remains primarily a corporate bank, was affected by decreased activities at most corporations last year. Moreover, the year-on-year comparison of our net profit is significantly influenced by one-off gains from the sales of HYPO stavební spořitelna and the ownership share in the PSE. We consider the one-quarter decline in profit after subtracting these gains in 2008 a success, as does our shareholder. There are numerous unambiguous signals that our bank is in good condition to be able to begin fulfilling the plan as approved by the shareholder through 2014, which envisages further strengthening the position in retail banking and improving satisfaction for all of our clients. In the last year, for example, we recorded a 20% increase year on year of the household loans, which include e.g. home building mortgage loans, loans for residential properties and consumer real estate loans. Despite market liquidity crisis at the beginning of the year the bank was able to provide on a consistent basis financing to its key corporate customers. Thanks to this approach we minimized the impact of economic slowdown on the total volume of loan portfolio."

Items in the income statement
UniCredit Bank Czech Republic's net interest, fee and commission income decreased year on year to CZK 8,645 million, which represents a decline of 5.2% compared to the same period of the previous year (2008: CZK 9,119 million).

General administrative expenses decreased by 6.8% to CZK 3,667 million (2008: CZK 3,933 million).

Balance sheet
As of 31 December 2009, UniCredit Bank Czech Republic's total assets amounted to CZK 264,627 million, a decrease of 5% from the figure as of 31 December 2008 (CZK 278,681 million).

On the assets side of the balance sheet, loans and advances to customers dropped by 3.5% to the total of CZK 167,700 million compared with the level as of 31 December 2008 (CZK 173,856 million).

On the liabilities and equity side, amounts due to customers increased by 0.6% to CZK 171,827 million (31 December 2008: CZK 170,770 million). Liabilities from debt securities decreased by 23.4% to CZK 28,559 million (31 December 2008: CZK 37,270 million). The bank's equity grew compared to year-end 2008 (CZK 27,063 million) by 8.9% to CZK 29,482 million.

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