UniCredit CR is the fourth largest bank in the Czech Republic by assets, with a market share of nearly 7%. The current bank is a result of the merger between UniCredit and two other banks, Živnostenská banka and HVB Bank. In spite of the merger, the cost efficiency has not improved much since 2009. Operating costs reached 45% of total bank's income in 2012, up from 40% in 2009
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