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Austrian BA-CA to take over HVB banks CEE operations

20. June 2007

Austrian Bank Austria-Creditanstalt takes over all HVB banks CEE operations including the Baltic states

After the Unicredit takeover of HVB, Bank Austria Creditanstalt AG (BA-CA), a subsidiary of Bayerische Hypo- und Vereinsbank AG (HVB), became a member of the UniCredit Group. BA-CA takes over the Baltic subsidaries and branches of HVB. Therefore in future BA-CA will be responsible for UniCredit Group's banking operations throughout Central and Eastern Europe (CEE) except for the operations in Poland. In the Baltic countries the takeover will pertain to the Tallinn and Vilnius branches of HVB Bank as well as HVB-Bank Latvia and HVB Leasing operating in Latvia.

As a result of the deal, HVB Bank's Tallinn, RIga and Vilnius operations will become a member of the UniCredit Group's Central and East-European region, and will in the future belong to the region's biggest, in terms of its assets, banking group that will be serving 28 million clients in 19 countries.

BA-CA is the biggest Austrian bank, owned 95 percent by UniCredito Italiano S.p.A and HVB Bank. UniCredit Group was created in 2005 as a pan-European financial group as a result of a merger between UniCredit and HVB Bank. The banking group has the leading position in Poland, Bulgaria and Croatia and is one of three or five leading banks in Bosnia and Herzegovina, Turkey, Slovakia, Serbia, Romania and the Czech Republic. Besides, the banking group is represented in Russia, Ukraine, Hungary and Slovenia.

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