UniCredit

Unicredit Group SpA Period End 31 December 2010

Unicredit Group SpA Annual Report 2010
CR Monitor Issue: 
2011/1217
Company covered: 
Unicredit Group SpA
Period End: 
31 December 2010
Report issued on 22 December 2011 covered the following practice issues:
Change
Impairment that reduces profit by 14.3% attributed to country-specific economic crisis and market volatility, as growth rates no longer disclosed by country.
Divergence
Move from fee and commission income to interest expense and similar charges attributed to intra-group merger.
Change
Regulatory capital calculation changed to symmetric basis in respect of reserves arising from sovereign debt holdings.

UniCredit Group SpA Period End 31 December 2008

UniCredit Group Annual Report 2008

€2.36 billion losses avoided by reclassifying financial assets
Italian bank UniCredit changes to measure some financial assets at amortised cost rather than at fair value, avoiding recognition of €2.36 billion losses but, by not providing details of the assets reclassified, falls short of IFRS.