Country Focus. International Cash Management

Transcription

1 Country Focus International Cash Management For Corporate Customers in Austria, Azerbaijan, Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic, Germany, Hungary, Italy, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine. June 2015

2 Table of contents 1 Introduction UniCredit UniCredit at a glance UniCredit s network in CEE UniCredit in Austria, Germany, Italy and CEE UniCredit s membership in the International Banking Association IBOS Information available via Internet 8 2 Account opening and account maintenance 9 3 Payments in Austria, Germany, Italy and CEE Payment transactions overview FlashPayment 13 4 Direct debits Processing methods Direct debits overview 17 5 SEPA SEPA Credit Transfer SEPA Direct Debit 21 6 Cash management message types camt 22

3 7 Local clearing systems 23 8 SWIFT messages Account information Operating the account EuropeanGate SWIFTNet for corporates UniCredit and SWIFT UniCredit s SWIFTNet proposition 31 9 Pooling methods offered by UniCredit Local cash concentration Cross-border cash concentration Cash management tax and legal 12 MultiCash BusinessNet in CEE Country by country selected products at a glance 34 implications on effective pooling Trustee interest calculation 29

4 4 Country Focus June Introduction UniCredit 1.1 UniCredit at a glance Employees: approx. 130,000 Approx. 8,000 branch offices Banking operations in 17 countries International network spanning: ~ 50 countries Market leader in Central and Eastern Europe leveraging on the region s structural strengths

5 1 Introduction UniCredit UniCredit s network in CEE CEE Region: 125 bn total assets about 2,500 branches about 50,000 employees Poland: 2 35 bn, 11 %; 1,001 Slovenia: 5 3 bn, 7 %; 28 Bulgaria: 1 8 bn, 17 %; 203 Azerbaijan: m, 1 %; 10 Czech Republic: 4 13 bn, 7 %; 109 Croatia: 1 14 bn, 26 %; 129 Romania: bn, 7 %; 186 Ukraine: 5 4 bn, 4 %; 377 Slovakia: 5 4 bn, 7 %; 78 Bosnia and Herzegovina: bn, 22 %; 116 Turkey: 5 22 bn 9 %; Russia: 9 19 bn, 2 %; 103 Hungary: 7 6 bn, 6 %; 85 Serbia: bn, 8 %; 77 Country: Total assets, share*; branches * all countries at 100 %

6 6 Country Focus June UniCredit in Austria, Germany, Italy and CEE Austria UniCredit Bank Austria AG Website: Branches: approx. 269, for full details please visit the website (English version) and click on Find a branch Germany UniCredit Bank AG* (HypoVereinsbank) Website: Branches: approx. 500, for full details please visit the website, click on Standorte Filialen in Ihrer Nähe Italy UniCredit S. p. A. Website: Branches: approx. 4, Azerbaijan Yapı Kredi Azerbaijan Website: Branches: Bosnia and Herzegovina UniCredit Bank d. d., Mostar Website: Branches: 79, for full details please visit the website (English version) and click on Branch Locator. UniCredit Bank a.d. Banja Luka Website: Branches: 37, for full details please visit the website (English version) and click on Branch Locator Bulgaria UniCredit Bulbank AD Website: Branches: approx. 203, for full details please visit the website and click on Find Branches/Find ATMS Croatia Zagrebačka banka d. d. Website: Branches: 129, for full details please visit the website (English version) and click on About the Bank and Branch and ATM Czech Republic UniCredit Bank Czech Republic and Slovakia, a. s. Website: Branches: 109, for full details please visit the website (English version) and click on Map of Branches and ATMs Hungary UniCredit Bank Hungary Zrt. Website: Branches: 85, for full details please visit the website and click on ATM s and Branches Poland Bank Pekao SA Website: Branches: approx. 1,035, for full details please visit the website (English version) and click on Branches and ATM s. * entered as such in the German Register of Companies

7 1 Introduction UniCredit Romania UniCredit Bank SA Website: Branches: approx. 186 for full details please visit the website (English version) and click on Branches & ATMs Russia AO UniCredit Bank Website: Branches: approx. 103, for full details please visit the website (English version) and click on Branches Serbia UniCredit Bank Serbia JSC Website: Branches: 77, for full details please visit the above website (English version) and click on Contact and Branches and ATMs Slovakia UniCredit Bank Czech Republic and Slovakia, a. s., pobočka zahraničnej banky Website: Branches: 78, for full details please visit the website (English version) and click on Branch locator Slovenia UniCredit Banka Slovenija d. d. Website: Branches: 28, for full details please visit the website (English version) and click on Branch finder Turkey Yapı ve Kredi Bankasi A. S. Website: Branches: 1.008, for full details please visit the website (English version) and click on Nearest Yapı Kredi Ukraine UniCredit Bank Ukraine (PJSC Ukrsotsbank ) Website: Branches: 377, for full details please visit the website (English version). 1.4 UniCredit s membership in the Inter national Banking Association IBOS As member of the IBOS association we offer via the IBOS offices in Austria, Germany and Italy as a single point of entry for corporate clients overall support for account openings (for residents and non-residents, in local and foreign currency) and the installation of electronic banking services (including cash management solutions) at the IBOS member banks. Main countries covered: Belgium, Canada, Denmark, Finland, France, Great Britain, Ireland, Netherlands, rway, Portugal, Sweden, Spain, USA, where roundabout 30,000 branches are available to meet the clients needs. Website:

8 8 Country Focus June Information available via Internet Local and international presence Bank Austria Registered Head Office: UniCredit Bank Austria AG Schottengasse Vienna/Austria Website: Austrian branch offices: Branch Locator International Network: International Global Network or Central and Eastern Europe CEE-specific information The publications listed below are available free of charge in English or bilingual (English/German or English/local language); they can be either downloaded from the Internet (PDF files) or ordered as brochures: Please visit BA s website and click on English Version Central and Eastern Europe CEE Publications Publications You can then choose from several reports. HypoVereinsbank (HVB) Registered Head Office: UniCredit Bank AG (HypoVereinsbank) Kardinal-Faulhaber-Str Munich/Germany Website (domestic): UniCredit S. p. A. Registered Head Office: UniCredit S. p. A. Via A. Specchi Rome/Italy Website: General information on Global Transaction Banking Website:

9 2 Account opening and account maintenance 9 2 Account opening and account maintenance We have summarised the most important features relating to the opening and maintenance of current accounts in CEE: Resident n-resident NB legal entity, domiciled in the respective country legal entity, NOT domiciled in the respective country National Bank or Central Bank With our Cross Border Account Opening Service accounts in almost all below mentioned countries can be opened centrally via one single point of entry (the availability of this service for a country depends on eventual legal restrictions).

10 10 Country Focus June 2015 Residents n-residents Locally Abroad Locally Abroad Country Local Currency LCY FCY LCY FCY LCY FCY LCY FCY Austria EUR Euro Y Y Y Y Y Y Y Y Bosnia and Herzegovina BAM Convertible Marka Y 6 Y 6 Y Y Y 6 Y 6 Y Y Bulgaria BGN Bulgarian Lev Y Y Y Y Y Y Y Y Croatia HRK Croatian Kuna Y Y Y Y Y Y Y Y Czech Republic CZK Czech Koruna Y Y Y Y Y Y Y Y Germany EUR Euro Y Y Y Y Y Y Y Y Hungary HUF Hungarian Forint Y Y Y Y Y Y Y Y Italy EUR Euro Y Y Y Y Y Y Y Y Poland PLN Polish Zloty Y Y Y 2 Y 2 Y Y Y Y Romania RON Romanian Leu Y Y Y Y Y Y Y Y Russia RUB Russian Rouble Y Y 5 Y 1 Y 1 Y 5 Y 5 Y 1 Y Serbia RSD Dinar Y Y N Y 3 Y 4 Y Y Y Slovakia EUR Euro Y Y Y Y Y Y Y Y Slovenia EUR Euro Y Y Y Y Y Y Y Y Turkey TL Turkish Lira Y Y Y Y Y Y Y Y Ukraine UAH Ukrainian Hryvna Y Y N Y 1 Y 4 Y 4 N Y Y: permitted; N: not permitted; LCY: local currency; FCY: foreign currency 1 The opening of accounts abroad and maintenance of accounts is subject to certain restrictions. 2 The opening of accounts abroad as well as balances and certain types of deposits kept on accounts abroad have to be reported to the country s NB. 3 The opening of accounts is subject to the NB s approval or licence. Approval or licence is granted to companies that have representative offices or run capital investment projects abroad and need the account for conducting business and/or need the account for pursuing foreign trade activities. In some countries the conversion of currencies or purchase of FCY (against LCY) is only permitted in connection with a foreign payment. 4 Special-purpose accounts only. 5 Accounts have to be opened exclusively with authorised banks. 6 The opening of accounts is only permitted with personal attendance of the client Exception: The account opening is done in cooperation with other member banks of UniCredit, where the client has already attended personally.

11 3 Payments in Austria, Germany, Italy & CEE 11 3 Payments in Austria, Germany, Italy and CEE The following section focuses on the features specific to the relevant countries in relation to the processing of commercial payments. LCY FCY NB Local Currency Foreign Currency National Bank or Central Bank Domestic Payments are payments in LCY within the country-border, payments between residents or in Germany and Romania payments in LCY even between residents and non-residents Cross-border Payments are payments which are crossing the country s borders or payments in FCY (even if NOT crossing the country s borders) or in some countries, payments in LCY between residents and non-residents. Cross-border Payments within the EU Member States: The regulation (EC) 924/2009, which replaced the Regulation (EC) 2560/2001, stipulates that the fees levied for a cross border euro payment to a member state may not be exceed the amount of fees levied for a similar domestic euro payment in the same member country. The regulation applies to credit transfers, direct debits and also cash withdrawals at cash dispensers (ATMs) in Euro within the EEA (European Economic Area). It does not apply however for cash remittances and to cheque payments. Other member states of EEA (European Economic Area), Iceland, rway and Liechtenstein joined this regulation, hence fees levied for euro payments to the above countries are also not higher than the fees for a domestic payment. Criteria of EU regulated payments: Payment within the EU countries**, plus Iceland, Liechtenstein and rway Currency of the payment = EUR Indication of IBAN (= the International Bank Account Number) and BIC (= the bank s SWIFT address) Fee sharing between payer and beneficiary (code SHA ) The impact of the EU Regulation on member states of the non-euro zone In countries of the non-eur zone, especially in the CEE countries an EUR payment within the domestic borders is a foreign currency payment. The EU Regulation has locally no, or only limited effect on the levied fees. ** i. e. (as of 01/2015): Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom

12 12 Country Focus June Payment transactions overview Country resident to/from resident a/c Payment transfers within the stated country resident to/from non-resident a/c non-resident to/from non-resident a/c Payment transfers to/from another country to/from resident a/c to/from non-resident a/c LCY FCY LCY FCY LCY FCY LCY FCY LCY FCY Austria 3 D CB CB CB CB CB CB CB CB CB Bosnia and Herzegovina D N D CB 6 D CB 6 CB 6 CB 1 CB 1 CB 6 Bulgaria 4 D CB D 2 CB 2 D CB CB 1 CB 1 CB 1 CB 1 Croatia 4 D N D D D D CB CB CB CB Czech Republic 4 D CB D CB D CB CB CB CB CB Germany 3 D CB CB CB CB CB CB CB CB CB Hungary 4 D CB D CB D CB CB CB CB CB Italy 3 D CB CB CB CB CB CB CB CB CB Poland 4 D CB D CB D CB CB CB CB CB Romania 4 D CB D 2 CB 2 D CB CB CB CB 2 CB 2 Russia D N D 5 CB 5 D 5 CB CB 5 CB 5 CB 5 CB 5 Serbia D CB 6 CB 1 CB 6 CB 1 CB 1 N CB 1 N CB 1 Slovakia 3 D CB D CB D CB CB CB CB CB Slovenia 3 D CB CB CB CB CB CB CB CB CB Turkey D D/CB 7 D D/CB 7 D D/CB 7 CB 5 CB 5 CB 5 CB 5 Ukraine D CB 1 D 5 CB 1 N N N CB 1 N CB 1 LCY: local currency; FCY: foreign currency; D: processed as a domestic transfer; CB: processed as a Cross-Border Transfer; N: not permitted; 1 The NB s reporting requirements stipulate that such payments can only be effected upon presentation of the originating documents (e. g. invoices, underlying contracts; copies thereof are kept with the executing bank) indicating the reason of the payment and the reporting code(s) applicable to the transaction. In some cases, approval of the NB is required too. 2 The NB s reporting requirements stipulate that for such payments a statistical declaration indicating the reason of the payment and the country of origin has to be submitted. Romania s limit for individual reporting 50,000 or equivalent; Bulgaria s limit for individual reporting BGN 100,000 or equivalent. Slovakia s limit for euro payments = 50,000, declaration mandatory for all other currencies. Over 100,000 additional description is mandatory. 3 EU member; local currency is the euro. The EU Regulation 924/2009 fully applies. 4 EU member; local currency is not the euro. The EU Regulation 924/2009 partially applies. 5 National Banks requirements stipulate that such payments are subject to special control by banks. 6 under special conditions as by prescribed law 7 held in Yapi Kredi payment is processed as a domestic transfer otherwise as a cross-border transfer.

13 3 Payments in Austria, Germany, Italy & CEE FlashPayment We operate an extensive banking network in Austria, Germany, Italy and CEE with local banking units which hold a leading position in the individual country s cross-border payments market. As our aim is that our customers benefit from our services, we have extended the range of our Network Products by creating a special service in the field of payment transactions the FlashPayment. This service guarantees the rapid execution of cross-border payments within our banking network in Austria, Germany, Italy and CEE: The payment is credited to the recipient s account with value D+1, i. e. on the banking day following the day instruction was issued. Regardless of how the payment order was transmitted, i. e. either paper-based or electronically and irrespective of the transfer amount. NetworkProduct On condition that both business partners maintain an account with our banking units, payments will be carried out automatically with an attractive value date, D+1. Requirements for the FlashPayment: Both payer and beneficiary have an account with us (as cited in the list of network banks the following page). The payment currency is either the Euro or the local currency of the beneficiary: FlashPayment instructions can be issued in favour of an account denominated in the transaction currency and can only be credited to an account denominated in the same currency without currency conversion. The payment order must show: Beneficiary s account number or IBAN (i. e. the International Bank Account Number, if available) Beneficiary s bank s BIC (i. e. the bank s SWIFT address). Your benefits: If the product criteria are met, the payment is processed automatically and at no extra cost to payer or beneficiary as a FlashPayment.

14 14 Country Focus June UniCredit s units which offer FlashPayment Country Name of the Bank BIC/Bank Identifier Code Austria UniCredit Bank Austria AG, Vienna BKAUATWW Bosnia and Herzegovina UniCredit Bank d. d., Mostar UNCRBA22 Bulgaria UniCredit Bulbank AD, Sofia UNCRBGSF Croatia Zagrebačka Banka DD, Zagreb ZABAHR2X Czech Republic Germany UniCredit Bank Czech Republic and Slovakia, a. s., Prague UniCredit Bank AG (HypoVereinsbank), Munich Bankhaus Neelmeyer AG, Bremen BACXCZPP HYVEDEMM NEELDE22 Hungary UniCredit Bank Hungary Zrt., Budapest BACXHUHB Italy UniCredit S. p. A., Rome UNCRITMM Poland Bank Pekao SA, Warszawa PKOPPLPW Romania UniCredit Bank SA, Bucharest BACXROBU Russia ZAO UniCredit Bank, Moscow IMBKRUMM Serbia UniCredit Bank Srbija JSC, Belgrade BACXRSBG Slovakia UniCredit Bank Czech Republic and Slovakia, a. s., pobočka zahraničnej banky, Bratislava UNCRSKBX Slovenia UniCredit Banka Slovenija d. d., Ljubljana BACXSI22 Ukraine UniCredit Bank Ukraine (PJSC Ukrsotsbank ), Kyiv UKRSUAUX

15 4 Direct debits 15 4 Direct debits Direct debits (DD s) make liquidity easier to manage as you know exactly when cash is flowing in or out of your account. This product enhances transparency for accounting (reconciliation) tasks and thus helps to improve your company s financial planning. Direct debits are an ideal means of payment in a business-to-consumer (B2C) as well as in a business to business (B2B) relationship. In Austria and CEE, DD s are generally available only in the respective country s local currency and only on a domestic basis. With regard to cross-border direct debits, UniCredit can provide you with individual solutions. Your advantages: Your advantage as a creditor: Improved administration of receivables enables more efficient liquidity management. Your advantage as a debtor: Payables are initiated electronically by the payee and automatically debited on payer s account. There is no risk of missing or overlooking a due payment by the payer. 4.1 Processing methods We differentiate between two basic schemes the features of which we have summarised as follows Scheme A: Refundable DD s non-final collection (typically used in a B2C-relationship) The creditor and the debtor sign an agreement ( mandate ) on refundable direct debits. This mandate is either kept at the creditor s or is passed on to the debtor s bank. The creditor sends the direct debit instruction to the debtor s bank, which debits the debtor s account. The creditor must guarantee to refund the debited amount for the case that the debtor reclaims the direct debit within a certain period (the reclaim/refund period). During this period, the debtor has the right to reclaim the debited funds without giving a specific reason. In such case, the creditor s bank refunds the money to the debtor s bank and debits the creditor s account with the reclaimed amount. Thus, the collected amount credited to the creditor s account remains credited subject to final payment until the end of the refund period.

16 16 Country Focus June Scheme B: n-refundable DD s final collection Within the EU Member states, this scheme is more frequently used in a B2B relationship, while for B2C debits finality is linked to additional criteria. Outside of the EU this scheme is used for both B2B and B2C relationships. The creditor and the debtor sign an agreement ( mandate ) on non-refundable direct debits. This mandate is kept with the debtor s bank and can be rescinded at any time. The debtor authorises his bank to debit his account on a regular basis and upon instruction sent by the creditor. To prevent mistakes or fraud, some countries allow for defining maximum transaction amounts or specific references within the mandate. Upon receipt of a direct debit instruction and provided that the mandate has not been rescinded, the instruction meets any prerequisites given in the mandate (e. g. maximum amount, specific references) and there are sufficient funds available on the debtor s account, the debtor s bank is obliged to transfer the requested amount to the creditor s bank. Partial crediting of amounts is usually not eligible. Upon execution, the transfer is considered final and may not be reclaimed. Any disputes have to be settled directly between the debtor and the creditor.

17 4 Direct debits Direct debits overview Country Direct Debits Country Specific Remarks Legally Permitted Available via EB Tool Austria There are two different schemes available for B2C and for B2B transactions. Scheme A Einziehungs-Ermächtigungs-Verfahren (EEV) This scheme is used for DD s in B2C relationships. The direct debit mandate is archived at the creditor. The refund period is 56 days after the debit entry. In case of reclaim, the debtor may insist on having the money refunded with original value date. The money is credited to the creditor with value D+3, at the latest. BusinessLine BusinessNet MultiCash As DD s are processed via the domestic payments system, only EUR direct debits are permitted. Bosnia and Herzegovina Bulgaria Croatia Czech Republic Scheme B Lastschriftsverfahren (LS) Unless otherwise agreed, this scheme is more commonly used in B2B relationships. The mandate is filed at the debtor s bank. This type of DD is not permitted for cross-border payments. The legal framework does not permit the execution of DD s. Scheme B non-refundable DD s is supported by the domestic clearing system. DD s are only possible in local currency. The local clearing system does not support DD s, but as a special customer service, Zagrebačka Banka offers an individual solution for non-refundable DD s (Scheme B). Processing is based on proprietary formats sent via data carriers. Scheme B non-refundable DD s are supported by the domestic clearing system. Debiting a resident account and crediting the amount to a non-resident account (and vice versa) is legally permitted. The status of rejected items is not followed up by the system; as a special customer service, your local relationship manager will take care of investigations. BusinessLine BusinessNet MultiCash MultiCash Bulbank Online e-cash MultiCash BusinessNet Eltrans 2000 In addition to the clearing service conducted by the Czech National Bank, the Czech Post Office offers the SIPO -service, for electronic management of DD mandates, whereby the execution of non-refundable DD s takes place only once a month. Germany Scheme A Einzugsermächtigungsverfahren for card based direct debits. These must be flagged with a special key 05 extension 019 within file format. This scheme is available until end of January As DD s are processed via the domestic payments system, only EUR direct debits are permitted. UC ebanking prime UC ebanking global MultiCash Hungary Both Scheme A and Scheme B DD s are supported by the domestic clearing system. These are only available in local currency (HUF). For B2C transactions a special system for collective DD s supports full electronic data interchange, including electronic management of mandates as well as information on the current status of the transaction (pending/fulfilled). In order to use this service, the creditor must be registered in a central registry; in addition, he must advise to the debtor of the details of the pending DD six days in advance. MultiCash Spectra SpectraNet For B2B direct debits, a single collection type of DD s is used; it does not comprise any additional information service. However, this type of DD permits agreement on partial payments as well as extended reclaim periods.

18 18 Country Focus June 2015 Country Direct Debits Country Specific Remarks Legally Permitted Available via EB Tool Italy There are different methods of payment collection: RI.BA. (RIcevuta BAncaria) The English translation of RI.BA. is: electronic receipt. It is a fully automated collection instrument, widely used by corporates in the B2B area. RI.BA. is a request for payment, without a previous authorisation by the debtor. A RI.BA. is issued by the supplier and sent to the customer through the banking network. When the RI.BA. is received by the debtor s bank, the debtor s bank notifies its customer within two days in order to provide an explicit endorsement to the payment execution. In case of a missing or denied endorsement the debtor bank sends an unpaid advice to creditor s bank, non paid RI.BA. are regulated latest two days after due date. According to the usual practices, RI.BA. requests are credited to the creditor s account one day after due date. Once a RI.BA. has been paid, this payment is not refundable by the debtor, similarly to a Scheme B instrument. UniWeb, TLQ SEPA-Compliant Electronic Database Alignment (SEDA) In order to maintain the RID Electronic Mandates Alignment functionalities, ABI has defined the mandate alignment service SEDA an additional optional service for the SDD schemes which aims at implementing into SEPA the standard features of the Archives Electronic Alignment (AEA). Poland Scheme A refundable DD s (Polish name: polecenie zapłaty) are supported by the domestic clearing system ELIXIR. The DD consent (paper) must be filled in by the debtor in duplicate (first for debtor s bank, second for creditor). Proffice Pekao BIZNES 24 There is a reclaim period of 8 weeks on B2C-DD s. There is a reclaim period of 5 working days on B2B-DD s. Romania Scheme B non-refundable DD s is in place. MultiCash Since April 2005, a new low-value clearing system provides a harmonised infrastructure for non-refundable DD s; before this point in time, DD s were processed individually by the banks, based on proprietary formats. Only RON Direct Debits are permitted. Till end of Q the inter-banking national DD scheme will be migrated to SEPA Direct Debit scheme with an additional mandatory feature: the National Centralized Mandate Registry (RUM). All existing DD inter-banking mandates will be migrated in the new SDD scheme. UniCredit Bank SA accepts DD-instructions in different formats, tailored to the customer s individual request. For an inter-bank DD to be processed, the customer must provide the bank with the DD request at the earliest five business days before invoice s maturity and at the latest two business days before invoice s maturity, cut-off-time 12:00 EET. With regard to in-house DD s, the request must be provided at the latest on the same day as the maturity date, cut-off-time, 12:00 EET.

19 4 Direct debits 19 Country Direct Debits Country Specific Remarks Legally Permitted Russia DD s are available for accounts kept within AO UniCredit Bank. With restrictions Serbia The legal framework does not permit the execution of DD s. (only on a domestic basis) Slovakia Slovenia Full compliance with SEPA direct debit scheme. All local direct debits were migrated into SEPA scheme Scheme B non-refundable DD s. This service, implemented within the local clearing system by BANKART as service provider, supports full electronic data interchange, including electronic authorisation management as well as information on the current status of the transaction (pending/fulfilled). Available via EB Tool MultiCash Business Net E-Bank The creditor must advise the debtor of the details of the pending DD fourteen days in advance. Alternatively, electronic data interchange is available via UniCredit Bank Slovenia s local Electronic Banking system E-Bank. Turkey DD s are non-refundable DD s can only be executed in the same bank, i.e. debtor s and creditor s accounts must be held at the same bank. For utility collections it is a typical DD, but for B2B DDs payment guarantee of the bank for the debtor can be requested. Corporate Internet Banking can be used for B2B DDs. Ukraine Direct Debit service is available. ibank 2UA

20 20 Country Focus June SEPA SEPA stands for Single Euro Payments Area and is a pan-european project aimed at standardizing payments across Europe to create a single domestic payments infrastructure. SEPA principally encompasses the countries of the Euro area, but the other countries of the EU, the European Economic Area (EEA), Switzerland, Monaco and San Marino are also included with their Euro payments. UniCredit is your perfect SEPA partner. Following the roadmap set by EU regulation 260/2012 ( SEPA migration regulation ) all local payments instruments used in the different EU Member States will be transformed according to the SEPA standards. The roadmap is as follows: January 2008 implementation of SEPA Credit Transfer vember 2009 implementation of SEPA Direct Debits February 2014 end date for national payment schemes in the Euro countries until August 2014 extension of acceptance period for electronic presentation of national credit transfers and collection authorisation in the legacy format February 2016 end date for national exceptions (e.g. use of legacy account details, ELV payment (payment at retailers by signature) in Germany) October 2016 end date for national payment schemes in the non-euro countries 5.1 SEPA Credit Transfer The main characteristics of SEPA Credit Transfers are: The transaction currency is in EURO. The account relationship of the originator and of the beneficiary is given by using IBAN (International Banking Account Number) and BIC (international SWIFT-Bank code). IBAN-only valid from 02/2016 also for cross-border transactions. Fees are shared between ordering party and beneficiary. SEPA Credit Transfers are processed in a standardized XML-data format (ISO XML). The specific fields defined in the new dataset are transported to the beneficiary in order to enable end-to-end STP processing. The processing of a SEPA Credit Transfer may last no longer than 1 business day for electronically instructed payments. For paper-based payments the execution period may be extended by one additional business day.

21 5 SEPA SEPA Direct Debit With the implementation of the SEPA Direct Debit it is possible to process Direct Debits across borders within the SEPA area. There are two new SEPA Direct Debit Schemes, SEPA DD Core and SEPA DD Business to Business (B2B): The SEPA DD Core scheme was designed for large volume low value, mainly business to customer collections e. g. public utilities, insurances, leasing etc. with a return period of 8 weeks (without any reason by the debtor). SEPA DD B2B is a specific type of collections with a finality to be used only between corporates. The debtor bank is obliged to check direct debits against the mandate, authorised by the debtor. The main characteristics of SEPA Direct Debits are: The transaction currency is EURO. The account relationship of the creditor and of the debtor is given by using IBAN (International Banking Account Number) and BIC (international SWIFT-Bank code). IBAN-only valid from 02/2016 also for crossborder transactions. Specific SEPA Mandates (the option of the migration of the existing mandates is different country by country [for SDD Core & SDD B2B]). Mandatory pre-notification from the creditor to the debtor about the forthcoming debit. Agreed and transparent Due Date through the complete process. Mandatory Creditor-Id identifies all creditors within the SEPA area. Unique Mandate-Id. Creditor-driven mandate flow. Standardised processes for the presentation/ submission of the collections. Standardised reject, return and refund processes. Reliability and legal certainty both on the creditor and on the debtor side within the whole SEPA area. Two different products exist: SEPA Direct Debit Core and SEPA Direct Debit COR1 (with a shorter presentation period). The Payment Service Directive (PSD) implemented in fall 2009 gave legislative grounds for birth of SEPA Direct Debit. The harmonisation process of SEPA continued with EU price regulation 924/2009 aiming at levelling domestic and cross-border EUR payments and obliging banks in EU to offer SEPA instruments besides their local payment instruments as of 1 vember With EU regulation 260/2012 the end-date 1 February 2014 for national payment instruments and their conversion for SEPA was established. In February 2014 an additional 6-month transitional period until 1 August 2014 was adopted. UniCredit is one of the largest processors of SEPA collections. By using the latest technology and brand new processing systems UniCredit is enabling our customers to take the advantage of these innovative new products.

22 22 Country Focus June Cash management message types camt The new electronic statement formats are based on XML in accordance with ISO and contain all important fields for an efficient end to end processing on your side. Country 1 camt.052 Electronic intraday transaction report camt.053 Electronic account statements camt.054 Electronic information on collective entries camt.086 Electronic accounting information for bank services Austria Planned 2015 Bosnia and Herzegovina Planned 2016 Bulgaria Planned 2015 Planned 2015 Planned 2015 Croatia 2 Czech Republic Planned 2016 Planned 2015 Germany Hungary Planned 2016 Planned 2015 Planned 2016 Planned 2016 Italy Poland Planned 2015 Planned 2015 Romania Planned 2016 Planned 2016 Planned 2016 Planned 2016 Russia 3 Serbia 2 2 Slovakia Planned 2016 Planned 2016 Slovenia Planned Planned 2016 Planned 2016 Turkey Planned 2016 Ukraine 1 SEPA country; non-sepa country 2 Conversion of MT940/2 3 Local channel

23 7 Local clearing systems 23 7 Local clearing systems Our banking group s units are either direct members or shareholders of the local clearing systems in CEE. They are therefore in a position to offer direct access to the local types of payment. ACH = Automated Clearing House; RTGS = Real Time Gross Settlement This table refers to the systems used by our banking group s units: Domestic clearing International clearing Country System names Remarks system names Austria Bosnia and Herzegovina Bulgaria Croatia CS.A (Clearing Services Austria) RTGS: TARGET2 (Trans-European Automated Real Time Gross Settlement Express Transfer) STEP.AT ACH: GIRO CLEARING RTGS: no specific name Both systems are operated by the Central Bank of Bosnia and Herzegovina. ACH: BISERA, operated by Bankservice AD RTGS: RINGS, operated by the Central Bank of Bulgaria. ACH: NKS ( National Clearing System ) RTGS: HSVP Both systems are operated by the National Bank of Croatia. Value dating: D+1 for mass payments D+0 for urgent payments Mass payments are processed through CS.A. Urgent payments are processed via TARGET2. Value dating: D+0 Domestic payments from/to nonresidents are sent via the domestic clearing system. Payments exceeding BAM 10,000 or marked as urgent are routed via the RTGS system. Value dating: D+0 Urgent payments and payments exceeding BGN 100,000 are routed via the RTGS system. Value dating: D+0 Payments to budget incomes and nonbudget funds as well as incomes for financing other public needs can be routed only via ACH system (exception: payments to State Treasury with a minimum transaction amount of HRK 1 million can be routed via RTGS). EBA (EURO1, STEP1, STEP2) TARGET2 (Trans-European Automated Real Time Gross Settlement Express Transfer) correspondent banks; SWIFT CS.I (Clearing Services International) correspondent banks; SWIFT correspondent banks; SWIFT; Target 2; EBA SCT and SDD B2B (only debtor side) via Bank Austria Vienna correspondent banks; SWIFT Any other payment can be routed via the RTGS system. There is no minimum amount. Czech Republic ACH & RTGS: CERTIS, operated by the Czech National Bank. SIPO (direct debit service of the Czech Post Office) Value dating: outgoing payments D+1 (standard), D+0 (urgent); incoming payments D+0 (standard), D+0 (urgent) Domestic payments from/to nonresidents are sent via the domestic clearing system. SEPA SCT and DD via Bank Austria Vienna (for SDD: B2C only debtor side; B2B both debtor & creditor side) correspondent banks; SWIFT

24 24 Country Focus June 2015 Domestic clearing International clearing Country System names Remarks system names Germany RTGS plus Same day value payments EBA (EURO1, STEP1, STEP2) EMZ ( Elektronischer Massenzahlungsverkehr ) ACH: EBA for SEPA payments n-urgent bulk payments for corporate customers only SEPA standard/mass payments TARGET2 (Trans-European Automated Real Time Gross Settlement Express Transfer) EBA (STEP2) Hungary ACH: GIRO, operated by GIRO Elszámolásforgalmi Zrt RTGS: VIBER, operated by the National Bank of Hungary. PEK (Postai Elszámoló Központ; Post Office Clearing Centre) = for cash payments in post offices. Value dating ACH: D+0 (within 4 hours) Value dating RTGS: D (within app. 20 minutes) Value dating PEK: D+2 SEPA SCT via UniCredit Bank Austria correspondent banks; SWIFT Italy BI-REL Low value payments Value dating: D+1 (standard) EBA (EURO1, STEP1, STEP2 only for SEPA settlement) EBA Step2 High value payments/ugent BI-REL is the Italian part of TARGET Value dating: D+0 (urgent) TARGET (Trans-European Automated Real Time Gross Settlement Express Transfer) correspondent banks; SWIFT Poland PLN-clearing: ACH: ELIXIR (for electronic payments), operated by KIR SA. RTGS: SORBNET, operated by the National Bank of Poland. EURO-clearing: ACH: EuroELIXIR, operated by Kir SA RTGS: TARGET2, operated by the National Bank Value dating: D+0 (subject to observance of the respective CoT) Equal and exceeding PLN 1 million are routed via the RTGS system; except social security payments, which are always executed via ACH. Value dating: D+0, D+1 STEP2 operated by KIR SA correspondent banks; SWIFT Romania ACH: SENT, operated by Transfond S.A. RTGS: ReGIS, administrated by National Bank but technically operated by Transfond S.A. Value dating: D+0 for payments received before same day COT D+1 payments received in extended COT Payments exceeding ca. RON 50,000 are automatically routed via the RTGS system. Settlement for debit instruments and direct debit transactions is D+2 (D day when out going message is sent to ACH). correspondent banks; SWIFT TARGET2; EBA SCT and SDD B2B/B2C via UniCredit Bank Austria AG, Vienna

25 7 Local clearing systems 25 Domestic clearing International clearing Country System names Remarks system names Russia ACH or RTGS Value dating: D+0 correspondent banks; SWIFT Payment system of the Central Bank of the Russian Federation (PS CB RF) Furthermore, clearing systems of state-owned and commercial banks with extensive branch networks (e. g. Sberbank RF). All domestic payments, i.e. within the same regions, are processed by the settlement centres of the Central Bank of the Russian Federation (CB RF); the main clearing system is the PS CB RF. Apart from that, state-owned banks and commercial banks operating extensive branch networks have their own clearing systems; e.g. Sberbank, which runs a large clearing system that can be used in addition to the payment system of the CB RF. The territory of the Russian Federation comprises 9 time zones with each zone having its own number of settlement cycles. In the Moscow region the PS CB RF runs 5 cycles of RUB-payments daily. Serbia ACH: Giro Clearing Value dating: D+0 correspondent banks; SWIFT RTGS: no specific name RTGS value dating: D+0 Both systems are operated by the National Bank of Serbia. Payments exceeding RSD 250,000 or marked as urgent are routed via the RTGS system. Slovakia ACH: SIPS, operated by the National Bank of Slovakia (NBS). Value dating: D+1 (standard); D+0 (urgent), XML format correspondent banks; SWIFT TARGET2 urgent customer s payments D+0, bank to bank transfers, MT 103/202 format Routing: all SCT via NBS Slovenia SIMP (for domestic SEPA payments) operated by Bankart RTGS: TARGET2 Value dating: D+0 Payments exceeding 50,000 as well as urgent payments are routed via the TARGET2 system. TARGET2, SWIFT, SEPA CT via UniCredit Bank Austria AG, Vienna Turkey RTGS: EFT Governed by CB of Turkey Value dating: D+0 Only run for LC correspondent banks; SWIFT Central Bank of Turkey Cheque Clearing Systems Value dating: D+1 Ukraine ACH & RTGS: SEP, operated by the National Bank of the Ukraine. Value dating: D+0 n-cash domestic payments are routed via NBU-SEP. correspondent banks; SWIFT

26 26 Country Focus June SWIFT messages 8.1 Account information SWIFT MT940 ( Customer Statement Message, i. e. end-of-day account statement) is a standard message type within our group. SWIFT MT942 ( Interim Transaction Report, i. e. intraday account information) is a standard message type within our group. 8.2 Operating the account SWIFT MT101 ( Request for Transfer ) can be provided from/to our sites in Austria, Germany, Italy and most of our CEE banks (with regard to the local legal framework regulating cross-border transfers).

27 9 Pooling methods offered by UniCredit 27 9 Pooling methods offered by UniCredit 9.1 Local cash concentration Local effective pooling We offer Local across accounts in the same currency and which are kept within one legal entity of our banking group. The choice of options available are Zero Balancing and Target Balancing. With Zero Balancing the transfers from respectively to the participating accounts take place at the end of each day as the last booking. Credit balances in the participating accounts are swept to the Master Account and debit balances are covered via the Master Account on the same day. Thus either a pre-defined balance remains on the participating accounts in order to optimise credit line utilisation or, alternatively, transfers to the Master Account only take place after a certain pre-defined amount has been reached. That helps to minimise booking transactions and to save transfer costs. If desired, the balances shown on local currency accounts with other local banks can also be transferred on a periodic basis to an account kept with the respective local UniCredit unit. The amount accumulated on such Master Account in local currency can ultimately be converted, e. g. into EUR, and then be integrated in an international crossborder EUR pooling (no automatic conversion). Thus at the beginning of business each day a zero balance is to be found on the participating accounts. With Target Balancing the end-of-day account balances of the participating accounts are examined daily. According to the defaults defined by the customer (pre-defined balances, etc.) a credit respectively debit payment transfer will be created automatically. Target Balancing requires intensified integration in daily banking procedures by bookkeeping and Treasury. A high degree of discipline in payment business is absolutely necessary.

28 28 Country Focus June tional pooling tional Pooling allows for reducing the net interest burden without moving funds to a pooling account. Thus local units of decentralized client groups remain independent in their liquidity management. With notional pooling debit and credit balances of the participating accounts are virtually offset against each other within a single bank. This allows the real balances to remain unchanged while a theoretical consolidation is obtained on a virtual pooling account. Interest is paid respectively received on the virtually aggregated balance. 9.2 Cross-border cash concentration Cross-border effective pooling Cross-Border is offered as either Zero Balancing or Target Balancing. Both variants can be implemented across all countries which do not impose capital transfer restrictions. Based on our banks mutual stro/vostro account relation ships (Zero Balancing), the options outlined can be implemented and allow for fully automated pooling. Funds concentration can also be arranged via the exchange of SWIFT MT101 messages (Target Balancing). CROSS-BORDER EFFECTIVE POOLING CZ AT book value 18 April BA stro Account 150 MT940/MT April 7 p.m. 19 April 6 a.m. Shadow stro Account 150 book value 19 April Pool Account Master Account book value 18 April Account 1 Account 2 Account 3 Account 4 book value = 19 April value date = 18 April

29 9 Pooling methods offered by UniCredit Cash management tax and legal implications on effective pooling Before implementing local legal and fiscal pre-requisites have to be considered. However, in any case, we strongly recommend obtaining detailed advice from your lawyer or tax consultant. 9.4 Trustee interest calculation This auxiliary service can be combined with Effective Pooling for your convenience: Interest accrued as a result of pooling can be distributed to the participating accounts according to your instructions such as: Individual interest spreads (taking into consideration the arm s length principle ). Various reference rates. Flexible account settlement periods. Prior period adjustments. Detailed reports for intra-group settlement.

30 30 Country Focus June EuropeanGate NetworkProduct EuropeanGate provides our customers with access to all UniCredit banks via one single point of entry. This routing and conversion platform enables the processing of both national payment formats as well as unified international formats such as ISO XML or SWIFT Messages (e. g. MT101). All payment orders (credit and debit transfers) are submitted through one single point of entry using the existing e-banking software. These are then forwarded on behalf of the customer to the executing local bank. Country EG offered EG Single Point of Entry (Source Location) EG Target Location Austria Bosnia and Herzegovina Bulgaria Croatia Czech Republic Germany Hungary Italy Poland Romania Russia Serbia Slovakia Slovenia Turkey Ukraine

31 11 SWIFTNet for corporates SWIFTNet for corporates SWIFT is the industry-owned co-operative supplying secure, standardised messaging services and interface software to nearly 8,200 financial institutions in 208 countries. UniCredit is a strong supporter of SWIFTNet for Corporates and actively promotes a complete offering via its EuropeanGate payments platform UniCredit and SWIFT UniCredit offers corporate customers full connectivity to the SWIFT network for many different messaging services demanded for communication between a corporate and their corresponding financial institutions, including messages for payments, treasury, trade and reporting. UniCredit is always on the cutting edge with regard to the latest SWIFT offerings to corporates and currently there exist three options for a corporate customer to access SWIFTNet: SCORE (Standardised Corporate Environment), MA- CUG (Member Administered Closed User Group) TRCO (Treasury Counterparty) UniCredit s SWIFTNet proposition UniCredit offers payments and cash management via FIN (MT101, MT940/942, MT192/5/9, MTx99), FX/money market confirmations (MT300/320) and trade messaging (MT798). UniCredit also offers payments and cash management via FileAct, using a single access point for the entire group through its EuropeanGate payments platform. EuropeanGate supports domestic and international formats. UniCredit offers MA-CUG services and is registered in SCORE. Furthermore UniCredit supports SWIFT Secure Signature Key (3SKey). 3SKey is a multi-bank and multi-network personal digital identity solution provided by SWIFT. The solution allows corporates to sign financial messages and files sent to their banks, using a single signing device. It also offers banks an effective way to implement secure authentication on electronic banking services by using a shared, reliable and trusted Public Key Infrastructure (PKI).

32 32 Country Focus June MultiCash NetworkProduct MultiCash is a PC based software which enables account information to be obtained and payment transactions to be executed across all domestic and foreign accounts if the account keeping bank holds a valid MultiCash software licence. MultiCash is a modular Electronic Banking platform which supports the communication standards EBICS (German standard, internationally adopted) and MCFT (specific standard provided by Omikron). Country MC offered MC Connectivity MC@Sign Austria Modem, ISDN, TCP/IP* Bosnia and Herzegovina Bulgaria Modem, TCP/IP* Croatia ** Czech Republic Modem, ISDN, TCP/IP* Germany TCP/IP* Hungary Modem, ISDN, TCP/IP* Italy Poland ** Modem, ISDN, Access Server, VPN Romania Modem, TCP/IP* Russia Serbia TCP/IP* Slovakia Modem, ISDN, TCP/IP* Slovenia ** Turkey Ukraine * TCP/IP = Transmission Control Protocol / Internet Protocol ** MC orders in country specific format, which are coming from another groupinternal MC-entry point and are transported via EuropeanGate can be processed.

33 13 BusinessNet in CEE BusinessNet in CEE NetworkProduct CEE BusinessNet, the innovative ebanking solution of UniCredit, is an individual work and information platform that enables your organization to optimally use the internet for the financial needs. It is designed to maximise efficiency and optimise the workflow in accordance with the requirements of companies across CEE. BusinessNet follows a multi-strategic approach and is designed to be a Multi-National and Multi- Domestic product, representing a: Cross-Border Solution to cover the needs of Multinational Corporate Customers with single credentials for log in (Single Log On). Domestic Solution, which fully covers all country specific and domestic needs. Access Companies can simply access all covered countries through UniCredit local homepages. If users are authorized to use BusinessNet for more than one country and/or company, they can easily switch between them with a single click. Cash Management Functionalities in Focus BusinessNet is a flexible solution which is designed to satisfy needs of companies in all sizes. Providing a range of cash management functionalities it effectively supports the dynamic development of enterprises and enables optimizing service operation costs and settlements between trading partners: Financial Overview account statements, transaction lists, real-time balances, notifications Payments and Collections all types of domestic and cross-border instructions File Transmission file import/upload for bulk payments Orders Management efficient management of available financial orders, templates and master data Group Banking clear overview of all accounts of a group (multi-bank account reporting based on SWIFT MT940) including import and export functions, which enable an easy integration with a company s ERP system Languages & Countries BusinessNet is currently available in both, English and in the Local Language. It is offering Cash Management functionalities in the following countries: Czech Republic Romania Russia Serbia Slovakia Slovenia Ukraine

34 34 Country Focus June Country by country selected products at a glance Country by country selected products at a glance Account Opening Austria Bosnia and Herzegovina Bulgaria for Residents in local currency * Croatia in foreign currency * for n-residents in local currency * Account Information in foreign currency * MT940 sending MT940 receiving MT942 sending MT942 receiving International Payments MT101 MT101 forwarding MT101 executing Local Cash Management tional Pooling Zero Balancing Target Balancing Trustee Interest Calculation Cross Border Cash Management Margin Pooling Zero Balancing via vostro/nostro accounts Target Balancing via MT101/103 * Account opening only with personal attendance; Exception: The account opening is done in cooperation with other member banks of UniCredit, where the client has already attended personally.

35 14 Country by country selected products at a glance 35 Country by country selected products at a glance Account Opening Czech Republic Germany Hungary Italy for Residents in local currency in foreign currency for n-residents in local currency Account Information in foreign currency MT940 sending MT940 receiving MT942 sending MT942 receiving International Payments MT101 MT101 forwarding MT101 executing Local Cash Management tional Pooling Zero Balancing Target Balancing Trustee Interest Calculation Cross Border Cash Management Margin Pooling Zero Balancing via vostro/nostro accounts Target Balancing via MT101/103

36 36 Country Focus June 2015 Country by country selected products at a glance Account Opening Poland Romania Russia Serbia for Residents in local currency in foreign currency for n-residents in local currency Account Information in foreign currency MT940 sending MT940 receiving MT942 sending MT942 receiving International Payments MT101 MT101 forwarding MT101 executing ² ³ Local Cash Management tional Pooling Zero Balancing Target Balancing Trustee Interest Calculation Cross Border Cash Management Margin Pooling Zero Balancing via vostro/nostro accounts ² 1 only delivered MT101 can be processed, no active automatic dispatch 2 under development 3 in RSD only if both ordering party and beneficiary are residents Target Balancing via MT101/103 ¹

37 14 Country by country selected products at a glance 37 Country by country selected products at a glance Account Opening Slovakia Slovenia Turkey Ukraine for Residents in local currency in foreign currency for n-residents in local currency Account Information in foreign currency MT940 sending MT940 receiving MT942 sending MT942 receiving International Payments MT101 MT101 forwarding MT101 executing Local Cash Management tional Pooling Ye Zero Balancing Target Balancing Trustee Interest Calculation Cross Border Cash Management Margin Pooling Zero Balancing via vostro/nostro accounts Target Balancing via MT101/103

38 38 Country Focus June 2015 Austria General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bank Austria AG BKAUATWW Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. arms length principle and regulations for safeguarding equity). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. Bosnia and Herzegovina General Information Name of the Banks SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bank d.d. Mostar UniCredit Bank a.d. Banja Luka UNCRBA22 BLBABA Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant.

39 14 Country by country selected products at a glance 39 Bulgaria General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bulbank AD UNCRBGSF Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered. We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. Croatia General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing Zagrebačka banka d.d. ZABAHR2X Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant.

40 40 Country Focus June 2015 Czech Republic General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bank Czech Republic and Slovakia, a.s. BACXCZPP Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered. We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. Germany General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bank AG (HypoVereinsbank) HYVEDEMM Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered. We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant.

41 14 Country by country selected products at a glance 41 Hungary General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bank Hungary Zrt., Budapest BACXHUHB Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. Italy General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents Local currency Foreign currency n-residents Local currency Foreign currency Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Corporate & Investment Banking UNCRITMM Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Zero Balancing Target Balancing Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant.

42 42 Country Focus June 2015 Poland General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing Bank Pekao SA PKOPPLPW Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of civil law action tax). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. Romania General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bank SA BACXROBU Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications There are no specific rules either permitting or prohibiting Cash Pooling transactions. We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. Each request is discussed with the customer, on a case by case basis, in order to identify the best solution to be implemented.

43 14 Country by country selected products at a glance 43 Russia General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing AO UniCredit Bank IMBKRUMM * Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) * Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. * under development Serbia General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bank Serbia JSC BACXRSBG Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties, intercompany loan contract, National Bank approval for pooling from other legal entity account). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant.

44 44 Country Focus June 2015 Slovakia General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Bank Czech Republic and Slovakia, a.s., pobočka zahraničnej banky UNCRSKBX Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered. We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. Slovenia General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing UniCredit Banka Slovenija d.d. BACXSI22 Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant.

45 14 Country by country selected products at a glance 45 Turkey General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing Yapı ve Kredi Bankasi A.S. YAPITRIS Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant. Ukraine General Information Name of the Bank SWIFT/BIC Homepage Account Opening Residents n-residents Account Information SWIFT MT940 sending SWIFT MT940 receiving SWIFT MT942 sending SWIFT MT942 receiving International Payments (SWIFT MT101) SWIFT MT101 forwarding SWIFT MT101 executing PJSC Ukrsotsbank UKRSUAUX Local Cash Management (Cash Pooling/Cash Concentration) tional Pooling Trustee Interest Calculation Cross Border Cash Management (Cash Pooling/Cash Concentration) Margin Pooling (via vostro/nostro accounts) (via MT101/MT103) Cash Management Tax and Legal Implications Before implementing Cash Pooling local legal and fiscal pre-requisites have to be considered (e. g. possible occurrence of stamp duties). We would therefore strongly recommend you to obtain detailed advice from your lawyer or tax consultant.

46 46 Country Focus June 2015 This document has been provided to you by UniCredit By accepting this document, you agree to be bound by the following terms. This document is for information and discussion purposes only. ne of the information, statements and opinions contained in this document constitute an offer under any applicable law, nor solicitation or recommendation for the purchase or sale of any products or services and is not intended to create any contractual obligation with UniCredit or with any of the entities composing UniCredit Group (as defined below). ne of the information, statements and opinions contained in this document constitute a public offer under any applicable law, an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments of any kind, in any jurisdictions, or any advice or recommendation with respect to such securities or other financial instruments. 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