UniCredit S p A : sets a Group-wide minimum standard for parental leave

Part of the bank's continued commitment to the welfare of its people through inclusion

UniCredit has set a Group-wide minimum standard for parental leave across all its markets with mothers offered at least 16 weeks of paid leave and fathers offered at least 4 weeks on a voluntary basis. The change is in line with the bank's continued commitment to the welfare of its people across the Group through inclusion, based on common standards and the shared values of ethics and respect.

The new minimum standard is also a further tool to continuously increase inclusion in the workplace at UniCredit by strengthening equal opportunities for engagement in childcare for all parents while ensuring job security and continued career prospects. The policy also applies to adoption in accordance with local laws and regulations.

Paolo Cornetta, Group Head of Human Capital at UniCredit, commented: 'We are strongly committed to consistently working to improve the welfare of our people across the Group and the new minimum standard for parental leave is a tangible example of this. We want to support our colleagues throughout the different phases of their life and career. The challenges we are faced with in this critical period have further highlighted the importance of support to our employees and their families, which we continue to actively work on with additional initiatives.'

The new parental leave standard is part of a larger set of welfare initiatives many of which have been specifically strengthened also in the context of the Covid-19 emergency. For example, in 2020, UniCredit established a dedicated Family Board to ensure the bank has a solid understanding of people's needs during the health crisis helping to design possible solutions to the most pressing individual and family issues. The new initiatives have focused on further flexibility in this unprecedented situation, psychological and physical wellbeing initiatives, support for home schooling and the new ways of working, including an etiquette on remote team management and respecting work-life balance.

The new parental leave minimum standard will be enforced across the Group from April 2021 in accordance with all relevant local regulation.

Milan 22 March 2021

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