Our corporate governance system is based on compliance with ethical principles and transparency.
Our constant interaction with the stakeholders has made us leaders in the application of best international corporate governance practices in order to create sustainable value for the company, customers, the workers, the shareholders and the countries in which we operate.
The overall framework of our corporate governance was defined in accordance with Italian and European laws and the recommendations of the Italian Corporate Governance Code of listed companies which we have adopted since 2001.
UniCredit is subject to the provisions contained in the Supervisory Regulations issued by Bank of Italy and, specifically with regards to corporate governance issues, to regulations on banks' corporate governance (Circular no. 285/2013).
In compliance with the aforementioned Supervisory Regulations, as a significant bank subject to the direct prudential supervision of the European Central Bank as well as being a listed bank, UniCredit qualifies as a bank of large size or operational complexity, and consequently complies with the provisions applicable to such banks.
As an issuer of shares that are also listed on the Frankfurt and Warsaw regulated markets, UniCredit also fulfils legal and regulatory obligations related to listings on said markets, as well as the provisions on corporate governance stipulated under the Polish Corporate Governance Code issued by the Warsaw Stock Exchange.
The information on the Governance Section Pages fulfils the obligations to provide information on corporate governance as required under prevailing law.
"Traditional" management and control system
The management and control system that we have adopted is the so-called "traditional" system, which, envisaging specific obligations for the Shareholders' Meeting, allows for the clear exchange of views between management and shareholders on fundamental elements of governance.
This system is based on the existence of two corporate bodies appointed by the Shareholders' Meeting: a Board of Directors, which is in charge of the strategic supervision and management of the Company, and the Board of Statutory Auditors, which is responsible for the supervision of management.
The Board of Statutory Auditors also carries out the Supervisory Body's duties in accordance with the Legislative Decree no. 231/2001.
Legal accounting supervision is entrusted by the Shareholders' Meeting to an external audit firm, on proposal of the Board of Statutory Auditors.
Corporate Governance Pillars
Box 1 : An independent Board of Directors, with a mix of diversified competencies and a clear selection and appointment processes
Box 2: Effective internal control and risk management system
Box 3: Effectice and rewarding remuneration
Box 4: An ongoing engagement in the market
Corporate governance evolution
Our corporate governance system is subject to continuous checking and review to keep it up to date with changes in the laws and best practices, and in recent years, the strengthening, improvement and simplification of the governance has been a priority for the Group.
The information contained in the Governance Section Pages discharge the information obligations on corporate governance envisaged by current provisions.
Corporate governance Report and other documents

2022 Corporate Governance Report
- PDF | Go to the Report for the 2022 financial year approved on February 24, 2023 (1.16mb)
- PDF | Go to the 2023 Group Remuneration Policy and Report (4.56mb)
- PDF | Go to the Annex 1 to 2023 Group Remuneration Policy and Report (494.56kb)
- PDF | Go to the Annex 2 to 2023 Group Remuneration Policy and Report (647.35kb)
- PDF | Go to the Statement on compliance with the corporate governance principles contained in the 2022 consolidated financial statements (272.43kb)

Company's statement on compliance with the corporate governance principles contained in the Polish 2021 Best Practice for WSE Listed Companies
Download the statement on compliance with the corporate governance principles
Download Introduction to the report on the scope of compliance with the 2021 Best Practice
On an annual basis, UniCredit draws up a corporate governance report meant for its shareholders, institutional and non-institutional investors and the market. The report supplies suitable information on its corporate governance system.
Consistently with the relevant legal and regulatory obligations, as well as in line with the provisions of the Italian Corporate Governance Code of listed companies (the "Code"), the Report on Corporate Governance and the ownership structure also provide information on the level of compliance with the Code and on the corporate governance practices applied by UniCredit.
The Code, according to the major international markets experience, identifies the corporate governance standards and best practices for Italian listed companies recommended by the Italian Corporate Governance Committee, to be applied according to the "comply or explain" principle that requires the explanation in the corporate governance report of any reason for failure to comply with one or more recommendations contained in its principles or criteria.
Since 2001 UniCredit has adopted the Code, which is publicly available on the Corporate Governance Committee website.
Corporate Governance Code
- PDF | Corporate Governance Code (March 2006) (3.50mb)
- PDF | New Art. 7 of the Corporate Governance Code (March 2010) (113.53kb)
- PDF | Corporate Governance Code (December 2011) (386.11kb)
- PDF | Corporate Governance Code (July 2014) (300.71kb)
- PDF | Corporate Governance Code (July 2015) (317.58kb)
- PDF | Corporate Governance Code (July 2018) (415.95kb)
- PDF | Corporate Governance Code (January 2020) (494.31kb)
Corporate Governance report
UniCredit Group Tax Strategy
The Group Tax Strategy provides for the guidelines and principles of UniCredit Group for the management of tax issues and associated risks (both financial and reputational). A proper tax management, in fact, is essential for UniCredit Group, its shareholders and all third parties affected by its activities.
The document has been written in line with our Group Values, which also reflect the International best practice, and should be read and applied in conjunction with the other policies and procedures issued by the Group and its Companies.
The Group Tax Strategy has been approved by the Board of Directors of UniCredit S.p.A.
- PDF | 2023 UniCredit Group Tax Strategy (200.89kb)
- PDF | 2022 UniCredit Group Tax Strategy (269.75kb)
- PDF | 2021 UniCredit Group Tax Strategy (250.53kb)
- PDF | 2020 UniCredit Group Tax Strategy (279.36kb)
- PDF | 2019 UniCredit Group Tax Strategy (201.60kb)
- PDF | 2018 UniCredit Group Tax Strategy (201.50kb)
Annual Information document
The annual information document - wich used to be drafted in accordance with Section 54 of Consob Resolution No. 11971/99, since repealed with Consob Resolution No. 18079/12 - either contains, or refers to, all the information published or made available by the issuers over the previous twelve months in one or more EU Member States or non-Eu countries, to comply with the obligations imposed on them by both the EU and the national legislation governing securities, securoties issuers and trading markets.
- PDF | Annual information document 2011 (282.81kb)
- PDF | Annual information document 2010 (249.28kb)
- PDF | Annual information document 2009 (278.67kb)
- PDF | Annual information document 2008 (1.83mb)
- PDF | Annual information document 2007 (1.06mb)
- PDF | Annual information document 2006 (282.81kb)