The improved financial result of the Group is due to cost cuts;

The achieved profit of 335 million euro for Q3 alone surpasses analyst forecasts.

A net profit of 1.4 billion euro for the first 9 months of the year is reported by UniCredit. The leading European banking group presented today its financial results as at the end of September. The achieved positive financial result for Q3 alone is 335 million euro, which surpasses analysts’ consensus forecast.

Federico Ghizzoni, CEO of UniCredit, commented on the positive results: ‘A year after the launch of UniCredit’s Strategic Plan we see meaningful positive impacts with lower costs supporting net profit and a significant drop in RWA strengthening our capital ratios. Our revenues remain resilient in spite of a continued difficult economic environment, particularly in Italy, thanks to our geographical diversification and our strength in the CEE.’

NET PROFIT SUPPORTED BY COST MANAGEMENT ACTIONS

The Group’s quarterly results show resilience, despite a challenging economic environment. The net profit of 335 million euro for the past quarter is a proof of the positive trend, with an improvement on Q2’s 169 million euro. The increase in net profit is achieved through cost cutting which allowed to partially offset unfavorable trends in revenues. Revenues are down by 2.1% Q/Q, but yet this decrease is smaller than the 4% Y/Y.

There was a significant contribution to UniCredit’s positive financial result as at the end of September by Central and Eastern Europe (CEE) and Poland. It is expected that in the following months as well the biggest positive contribution will be coming from the countries pointed out by UniCredit’s analysts as bound for stronger economic growth and respectively biggest expansion by the Group, namely Poland, Turkey, Russia and the Czech Republic.

The persisting unfavorable economic conditions also had influence on UniCredit’s financial results, causing provisions to remain at relatively high levels: 1.8 billion euro in the third quarter.

STRATEGIC PLAN ACHIEVEMENTS

One year after its announcement, the pertinence of the main Strategic Plan actions is confirmed, particularly considering the deteriorating macroeconomic conditions. Achievements to date include:

Focus on CEE

As part of the implementation of the Strategic Plan, the Board of UniCredit approved today a project to combine its subsidiaries in the Czech Republic and Slovakia into a single cross border bank. The integration is still subject to the relevant national authorities’ approval.

As already announced, in CEE UniCredit is pursuing a diversified approach, evaluating the potential for economic growth in each country. The four countries for which it has envisaged “the biggest expansion” are Poland, Turkey, Russia and Czech Republic.

Bulgaria remains one of the key markets for UniCredit thanks to its presence as the strongest bank in the country as well as to the sector leaders – UniCredit Leasing, UniCredit Consumer Financing, UniCredit Factoring, Pioneer Investments.

Simplification & Cost Management – for one year, from September 2011 to September 2012, costs in Western Europe decreased by 3.9%, and across the Group by 2.9%.

KEY FINANCIAL INDICATORS

(in million euro)	Sept 2012	Y/Y	Q/Q
Total revenues	6,134	6.90%	-2.10%
Operating costs	(3,748)	-3.70%	-0.40%
Gross operating profit	2,385	29.50%	-4.70%

About UniCredit

UniCredit is a leading European bank with rock-solid presence in 22 countries. In the CEE region UniCredit is managing the biggest international network of nearly 3,900 branches. The Group is present in Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Kazakhstan, Kirgizstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, Phone: + 359 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch

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