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Emoluments of members of Bank Austria Creditanstalt AG’s Managing Board and
Supervisory Board
The emoluments granted for the respective term during which Managing Board members
were active in 2005 and paid to the Managing Board members (excluding payments into
pension funds) totalled € 7.1 m (comparable emoluments in 2004 totalled € 5.5 m). Of this
total, € 4.6 m (2004: € 3 m) related to variable salary components, and € 2.5 m (2004:
€ 2.5 m) related to fixed salary components. As in the previous year, no emoluments were
paid for activities in subsidiaries.
Payments to former members of the Managing Board and their surviving dependants –
excluding payments into pension funds – totalled € 17.1 m (of which € 4.5 m was paid to
former Managing Board members of Creditanstalt AG, which merged with Bank Austria in
2002, and their surviving dependants; € 1.9 m was paid to former Managing Board members
of Österreichische Länderbank AG, which merged with Bank Austria in 1991, and their
surviving dependants). The comparative figure for 2004 is € 14.4 m. Emoluments for activities
in subsidiaries amounted to € 0.5 m (2004: € 0.5 m).
The emoluments of the Supervisory Board members active in the 2005 business year totalled
€ 0.3 m (2004: € 0.3 m) for Bank Austria Creditanstalt AG, and € 0.1 m (2004: € 0.1 m) for the
two credit associations. No emoluments were paid for activities in subsidiaries.
Members of the Managing Board do not hold any options on shares in Bank Austria
Creditanstalt AG and did not receive any other monetary benefits from shares in
Bank Austria Creditanstalt AG or Bayerische Hypo- und Vereinsbank AG.
Loans and advances to members of the Managing Board and of the Supervisory
Board of Bank Austria Creditanstalt AG
As in the previous year, overdrafts granted to members of the Managing Board amounted
to € 0.1 m. At the balance sheet date, there were no loans to Managing Board members
(2004: € 0.1 m).
Loans to members of the Supervisory Board amounted to € 2.28 m (2004: € 0.9 m). Credit
lines and overdrafts granted to Supervisory Board members totalled € 1.12 m (2004:
€ 0.43 m). As in the previous year, repayments during the business year totalled € 0.05 m.
Loans to the Supervisory Board include those made to members of the Employees’ Council
who are members of the Supervisory Board. The maturities of the loans range from five to
fifteen years. The rate of interest payable on these loans is the rate charged to employees
of Bank Austria Creditanstalt.
Bayerische Hypo- und Vereinsbank AG, Munich (HVB), and UniCredit S.p.A., Genoa
(UniCredit)
Pursuant to the “Bank of the Regions” agreement, Bank Austria Creditanstalt has been
entrusted with managing the business operations of HVB Group in Austria and in the countries
of Central and Eastern Europe (excluding the Baltic countries, Ukraine and Russia). HVB
is responsible for business units in the rest of the world.
In respect of BA-CA AG, HVB undertakes to ensure, within the scope of its ownership interest
and except for political risk, that BA-CA AG can meet its contractual obligations. Note
45 contains a list of companies in respect of which BA-CA AG has issued comfort letters
with the same wording.
Since the capital increase in 2003, HVB has held 77.5 % of the shares in Bank Austria
Creditanstalt AG.
142 Additional IFRS disclosures
b) Relationships with the parent
company, unconsolidated subsidiaries
and other companies in
which an equity interest is held