The Group reached €1bln net profit in the first nine months of the year in spite of the challenges to the economies of the countries where it operates;

Again, UniCredit recorded sound capital ratios and good liquidity

UniCredit recorded a net profit of €1bln in the first nine months of the year in a difficult macro-economic and business environment. In the last quarter, the positive financial result of the Group is €204mln.

The profit recorded in the first nine months of the year is due to a large extent to the cost reduction in that period, which compensates for the lackluster economic activity, especially in the third quarter. The measures that were taken have led to tangible results and in the last three months the reduction in operating costs is 3% yoy at €3.6bln. In addition to the measures already taken, the Group will proceed with further actions to improve efficiency and optimize its structure.

“In an overall persistently difficult economic framework, I believe it is important that UniCredit has achieved a positive net profit also in a particularly challenging third quarter, not only due to seasonality. This has been possible thanks to our quest for efficiency, cost reduction across the Group and to our strong international footprint, with a significant contribution from CEE. “ This is how UniCredit CEO Federico Ghizzoni commented on the financial results at their announcement late last evening. He highlighted that the profit in the amount of one billion euro in the first nine months of 2013 was achieved with constant attention to the capital ratios. Core Tier 1 ratio has been further improved at 11.71%, which is indicative of the ability of the Group to satisfy regulatory requirements and market expectations.

“The liquidity position is extremely sound. Net flows to impaired loans have been stabilizing across all the main areas of the Group, as well as the coverage ratios. With regard to the ECB asset quality review, we strongly believe in the need of a strict assessment with common rules for all, in the interest of market players, customers and investors’ confidence. We confirm the commitment of UniCredit to support the real economy both in Italy and Europe in the coming months”, Ghizzoni summarized.

In the coming months UniCredit will keep focusing on the redesign of the branch network and the implementation of innovations in the service model. Especially in the region of Central and Eastern Europe the efforts are aimed at keeping the leading position of the banks of the Group with regard to the development of the alternative channels and their integration in the common service model through enhancements to the online banking and mobile applications.

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Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch