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Following the spin-off of part of the Private Banking Units of UniCredit Luxembourg to DZ Privatbank in 2010, UniCredit Luxembourg implemented a new strategy in 2011, focusing on the needs and requests of (U)HNWI (Ultra High Net Worth Individuals) and offering tailored-made services and solutions. Additional efforts concentrated also on Corporate and Investment banking activities, which together with Markets operations significantly contributed to overall results and continue to be the backbone of banks operations. The year 2011 ended for UniCredit Luxembourg with a net profit of EUR 213.8 million vs EUR 236.1 million in 2010.
Operating profit of UniCredit Luxembourg slightly decreased in 2011 by EUR 10.8 million to EUR 277.0 million. However, on a pro...
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