Roberto Nicastro Unicredit Group

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<ul><li> 1. 30th Efma Convention: Leadership in retail fi L d hi i t il finance 13 p.m. &amp; 14 March 2008 - Paris Roberto Nicastro Deputy Chief Executive Officer Unicredit Group </li> <li> 2. EFMA: BUILDING THE FIRST TRULY EUROPEAN FINANCIAL SERVICES GROUP OVERCOMING THE HURDLES OF EUROPES FRAGMENTATION THROUGH CROSS-BORDER MARKET SEGMENTATION EFMA 30th Convention Roberto Nicastro Deputy CEO Unicredit Group Paris, 14 March 2008 </li> <li> 3. Unicredit saw an exceptional growth, pursuing a diversification p path that led to a strong internationalization g TOTAL REVENUES EMPLOYEES BRANCHES ( bn) 1993 PRIVATISATION: Credito Italiano first Italian State-owned bank to be privatised 2,2 17,158 814 1998 2000 UNICREDITO CREATION AND INTEGRATION: 9,3 65,047 3,931 merger and integration of 7 Italian banks REORGANISATION BY CLIENT SEGMENT: 3 2001 2003 segment banks established 10,5 69,062 4,563 HVB GROUP MERGER AND INTEGRATION: new 2005 2006 Group full divisionalisation; mergers of Group banks in 23,5 (2) 132,480 (1) 7,269 CEE countries CAPITALIA MERGER: strengthening position in Italy 2007 29,9 Expected NEW ACQUISITIONS IN CEE: announcement of two 169,816 (3) 9,633 new deals in Ukraine and Kazakhstan 3 (1) KFS Group consolidated proportionally (2) IFRS (3) Full Time Equivalents, with KFS at 100% </li> <li> 4. Unicredit now ranks among world wide top players Market Cap in Eurozone (Euro bn)1 Market Cap World Wide (Euro bn)1 SCH 70.8 ICBC 181.0 UniCredit 64.7 CCB 119.9 IntesaSP 59.7 HSBC 113.5 BNP Paribas 56.8 BoA 110.3 BBVA 49.5 49 5 Bank f China B k of Chi 105.1 ING 46.8 JP Morgan Chase 91.8 Deutsche Bank 38.5 Citigroup 84.2 Soc Generale 36.6 SCH 70.8 Fortis 30.7 Mitsubishi UFJ 64.9 Credit Agricole g 30.8 UniCredit 64.7 1) As of 21 January 2008 - Source: Thomson Financial 4 </li> <li> 5. With a unique broad foothold in Europe 0,5-1% 1%-3% 1% 3% 3%-10% &gt;10% 5 </li> <li> 6. This generated some complexity UNPARALLELED EUROPEAN FRANCHISE B ki operations i 23 countries(1) Banking ti in ti More than ~40 million customers About 10,000 branches FOUR CORE MARKETS Italy: #2, ~16% market share(2) Germany: #3, ~5% market share(2) Austria: #1, ~19% market share(2) SPREAD REVENUE PORTFOLIO CEE: the biggest investor in the region Total Revenues Other 8% GLOBAL PRODUCT FACTORIES CEE 18% MIB: a strong regional player with leading position in CEE Italy 47% (#2 ECM and M&amp;A in 2006) Austria 10% Pioneer, a global player: AuM(3) ~290 bn Leasing: European leader as for new production(4) Credit cards: a strong platform with ~11 mln credit cards issued, Germany 17% ( f which 6 5 mln i CEE(5)) #5 i E (of hi h 6.5 l in ), in Europe and #1 i T k d in Turkey NOTE: Year-end 2006 data, referred to UniCredit + Capitalia + ATF +USB Groups (combined pro-forma) pro forma) Source: UniCredit, Capitalia, ATF, USB 2006 data (1) Including 6 ATF (2) Market shares and rankings calculated on customer loans, considering only loans to domestic customers for Germany (3) As of March 07, including Pioneer Austria and Capitalia. (4) After merger with Capitalia, almost ex-aequo with Lombard Finance (5) Cards already activated </li> <li> 7. Cross border financial companies face a common scenario Different evolution of Wholesale vs Retail (Wholesale with quick globalization, Retail slower but moving forward) European banking market split in two blocks Private Banks, strongly performance oriented Cooperative/State owned banks Economies of scale and scope driving cross-border M&amp;A frenzy but complexity and political sensitiveness playing a relevant role Consumer and Corporate needs are in convergence However regulations and taxations (more than culture) still generating fragmentation 7 </li> <li> 8. Similar trends are hitting all Countries Eurozone banks unit margins Continuing population ageing Dependency Ratio (over 65/15-64) 80 70 Japan United States 60 Euro area Customer dis-trust vs banks 50 40 30 20 10 0 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050 MIFID directive Consumer protection focus Consumer Lending Mortgage SEPA 8 Banking fees cancellations by regulators Source: Unicredit Research on ECB Data </li> <li> 9. Similar trends are hitting all Countries 100 Online Banking Users: US (million) 75 78 80 70 65 58 60 Increasing usage of remote I i f t 49 40 31 33 28 channels 20 18 11 0 1999 2001 2003 2005 2007 2009E Average Satisfaction Eu 85 (TRIM Index) 77 66 65 Recent funding cost increase 45 Auto Health Travel nance tailer IT Telco Meida T M Ret Fin 110 Euro area, spread banking issuese (A/A+) Euro Area, spread emissioni bancarie (A+/A) 100 governative, (10 anni) and government i d t issues, 10 years 90 Strong pressure on margins 80 ( g (eg mortgage) g g ) 70 60 50 9 Source: BCG study, 40 2-Jun-07 12-Jul-07 21-Aug-07 30-Sep-07 9-Nov-07 19-Dec-07 28-Jan-08 </li> <li> 10. Unicredit Group has taken a clear route Specialize around customers (Divisional model) across border Cluster governance by strategic focus area Exploit global product factories Build identity across th...</li></ul>