NPE down by c.57bn thanks to proactive and disciplined risk management

Significantly strengthened capital

1. For 2015 figures as shown in FY16 results. For 2017 figures as shown in FY18 results. For 2019 and 2020 figures as shown in FY20 results. P2R in 2015 at 250bps, lowered to 200bps in 2018. In 2020, P2R further lowered to 175bps (o/w 98bps to be covered by CET1, 77bps by AT1 and T2, thanks to art. 104a CRDV). 

2. Including deduction of ordinary share buyback of 179m, subject to supervisory and AGM approval. Stated CET1 ratio at 15.14% and stated MDA buffer, at 611bps.

Strong risk discipline in continuous improvements

Net cost base reduced c. 20%, branches down c. 40%

1. For 2015 figures as shown in FY16 results. For 2017 figures as shown in FY18 results. For 2019 and 2020 figures as shown in FY20 results. For the expected loss, figures are shown as per the corresponding year. For 2015 expected loss on stock as per regulatory reporting, EL on new business presented as marginal contribution.

2. Retail branches only; for Western Europe excluding minor premises, Corporate and Private Banking. For 2015 and 2017 including Turkey otherwise excluded.

UniCredit is well capitalised

D. Pro forma including deduction of share buyback of €467m, subject to supervisory and AGM approval. Stated CET1 ratio at 13.22% and stated MDA buffer at 312bps.

E. Including estimated impact of CRD5 (article 104a) and Basel 4, FRTB and CVA fully loaded.