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UniCredit opens the way to the Newton Program

07.08.2012

The Group will enhance its technological assets by 2015 through agreements with international partners

The Board of Directors of UniCredit today gave the green light to UniCredit Integrated Business Solutions, the Group’s global service company, to start the analysis of the conditions for implementation of the initiatives covered by the Newton program.

The UniCredit Board of Directors has delegated Paolo Fiorentino, Group Chief Operating Officer, to agree, with UniCredit Integrated Business Solutions, on individual plans defined to implement new business models.

The Newton program, the basics of which were outlined within the UniCredit strategic plan presented in November 2011, aims to achieve high levels of internal efficiency by exploiting its process knowhow and technology assets.

The initiatives which have been identified as part of the program are mainly partnerships with international companies who are leaders in their field. Their goal is to accelerate the transformation of the Group’s operative machine while constantly evolving and, where possible, taking advantage of opportunities to develop in the non-captive market.

"The Newton Program” - says Paolo Fiorentino – “will ensure the growth and performance of our assets by leveraging on our internal competencies and on the differentiating factors that strategic partners might offer us; this is necessary to enable us to be able to respond to the need for continuous innovation required by the market, and create the conditions to extend our business to new customers".

The perimeter of the initiatives - to be developed in compliance on country-level with legal and regulatory needs - involves around 2,200 people and mainly concerns IT infrastructure, receivable accounts administration, some IT applications dedicated to Central and Eastern Europe and payments, with total estimated cumulative savings for the first initiatives of over € 1.2 billion in ten years.

The countries that will be involved are Italy, Austria, Germany, Romania, Hungary, Slovakia, Czech Republic and the United Kingdom.

Milan, August 3, 2012

Contacts:

Media Relations: Tel. +39 02 88628236;
e-mail: MediaRelations@unicredit.eu
Investor Relations: Tel. + 39 02 88628715;
e-mail: InvestorRelations@unicredit.eu

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank’s client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.


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