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IL SISTEMA BANCARIO BULGARO E UNICREDIT BULBANK Sofia, 07 June  2010 Aldo Andreoni Head of International Department  CIB & PB Forum Economico “ Bulgaria-Italia: insieme per uscire della crisi” Panel tecnico. “ I protagonisti della ripresa: mezzi e strumenti per il rilancio degli investimenti
Credit growth has stalled  Bulgarian banking sector: Loans growth  (Jun`2006 – Mar`2010, yoy) ,[object Object],[object Object],Source: BNB Bulgarian banking sector: Loans growth forecast  (2007-   2015 f, yoy ) Source : BNB, UniCredit Bulbank forecast
Deposit growth remains more resilient, despite recession  ,[object Object],[object Object],Bulgarian banking sector: Deposit grwoth  (Jun`2006 – Mar`2010, yoy) Bulgarian banking sector: Deposits growth forecast  (2007-   2015 f, yoy ) Source: BNB Source : BNB, UniCredit Bulbank forecast
Although indebtedness remain moderate for the economy as a whole, some deleveraging pressure is likely in the most overheated sectors such as real estate and construction.  Source: NSI, UniCredit Bulbank Economic Research
[object Object],[object Object],[object Object],In early 2010, free liquidity was used to reduce some of the most expensive sources of foreign funding Bulgarian banking sector: External position (Dec`07 – Mar`10) Source : BNB, UniCredit Bulbank forecast  Note: Forecasts are draft-projections agreed with Strategic Research Team in Vienna for the 5Y Pan in March 2009 Bulgarian banking sector: Liquidity indicators (Dec`07 – Mar`10)
Despite challenging profitability backdrop banks in Bulgaria continued cutting loan-to-deposit interest rate spread Loan-to-deposit interest rate spread (Feb 2004 – Mar 2010) Source: BNB, UniCredit Bulbank Economic Research Retail loan-to-deposit interest rate spread Corporate loan-to-deposit interest rate spread
Bulgarian banking sector looks well positioned to deal with the implications of recession  Source: BNB * Bad and restructured loans – the total amount of balance sheet loans exposures, which are classified as “substandard exposures” (the principal or interest arrears payments have been past-due 61 to 90 days), “non-performing exposures” (the principal or interest arrears payments have been past-due over 90 days) and restructured loans (regardless of the group they are classified in) as per Ordinance No. 9 of BNB, is included. ,[object Object],[object Object],Bulgarian banking sector: NPL’s  (1Q 2007 – 1Q 2010) Bulgarian banking sector: Bad and restructured loans (Dec 2007 – Mar 2010)
In early 2010, the profitability of Bulgarian banking sector remains under pressure  ,[object Object],[object Object],P&L of the banking system  (2007 – 2010f*) Source: BNB, UniCredit Bulbank Economic Research
Despite the crisis Bulgaria will remain an attractive market looking forward… Bulgaria :  Return on assets  ( ROA ),  before tax Bulgaria :  Return on capital  ( ROE ),  before tax Bulgarian :  Cost to Income ratio ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Source : BNB, UniCredit Bulbank 5Y Plan draft forecast
Position of UniCredit Bulbank
MARKET POSITIONING   UniCredit Bulbank is the market leader in the Bulgarian  banking system, with  16% market share in assets … ,[object Object],[object Object],[object Object],[object Object],[object Object],* Adjusted with the effect of re-imported loans
MARKET POSITIONING  … with profitability, efficiency, asset quality and balance sheet structure better than banking system levels * Source: Regulatory financial statements for both the banking system and UniCredit Bulbank as of 31.03.2010. -0.9 pp - 5.2pp - 3.3 pp 0.3 pp 2.1 pp ,[object Object],[object Object]
PROFIT AND LOSS (consolidated*) Strong performance with Net Profit at BGN 39 mln,  which is about ¼ of the total banking system net profit * Consolidated financial statements of UCI Bulbank include HVI and UniCredit Factoring ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
* Consolidated financial statements of UCI Bulbank include HVI and UniCredit Factoring BALANCE SHEET (consolidated*) Balance sheet re-positioned in line with the strategic focus on customer  business; Securities down by 15.5%; Net Loan/Deposits ratio improved by 165 bps ,[object Object],[object Object],[object Object],[object Object]
AWARDS OF UNICREDIT BULBANK 2009 Best Bank in BG   Bank of the year in BG   Best Bank in BG Best Custodian in BG   CSR Award   CSR Award

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IL SISTEMA BANCARIO BULGARO E UNICREDIT BULBANK

  • 1. IL SISTEMA BANCARIO BULGARO E UNICREDIT BULBANK Sofia, 07 June 2010 Aldo Andreoni Head of International Department CIB & PB Forum Economico “ Bulgaria-Italia: insieme per uscire della crisi” Panel tecnico. “ I protagonisti della ripresa: mezzi e strumenti per il rilancio degli investimenti
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  • 4. Although indebtedness remain moderate for the economy as a whole, some deleveraging pressure is likely in the most overheated sectors such as real estate and construction. Source: NSI, UniCredit Bulbank Economic Research
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  • 6. Despite challenging profitability backdrop banks in Bulgaria continued cutting loan-to-deposit interest rate spread Loan-to-deposit interest rate spread (Feb 2004 – Mar 2010) Source: BNB, UniCredit Bulbank Economic Research Retail loan-to-deposit interest rate spread Corporate loan-to-deposit interest rate spread
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  • 15. AWARDS OF UNICREDIT BULBANK 2009 Best Bank in BG Bank of the year in BG Best Bank in BG Best Custodian in BG CSR Award CSR Award