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In the 2005 financial year, aggregate total assets of associated companies in which
Bank Austria Creditanstalt held investments which were not accounted for under the
equity method were € 2,683 m. Aggregate equity capital of these companies amounted
to € 241.9 m. The combined net income of these companies was € 24.3 m.
In 2005 and 2004, the Bank Austria Creditanstalt Group employed the following average
numbers of staff (full-time equivalents):
Employees *)
150 Additional IFRS disclosures / Risk report
2005 2004
Salaried staff 30,141 29,462
Other employees 194 226
TOTAL 30,335 29,688
of which: in Austria 11,291 12,211
of which: abroad 19,044 17,477
*) average numbers (full-time equivalents) of staff employed in the Bank Austria Creditanstalt Group
(consolidated companies), excluding apprentices and employees on unpaid maternity or paternity leave
With effect from the end of the Extraordinary Meeting of Shareholders held on 25 January
2006, Michael Mendel and Michael Kemmer resigned from the Supervisory Board. With
effect from the same date, Alessandro Profumo, Carlo Salvatori and Sergio Ermotti were
elected as new members of the Supervisory Board. At the extraordinary meeting of the
Supervisory Board held on 25 January 2006, Carlo Salvatori was elected Chairman of the
Supervisory Board. Carlo Salvatori, Franz Rauch and Wolfgang Sprissler were elected as
new members of the credit committee, and Carlo Salvatori was elected chairman of the
credit committee. Alessandro Profumo and Carlo Salvatori were elected as new members
of the strategy committee, and Carlo Salvatori was elected chairman of the strategy committee.
Carlo Salvatori was elected as a new member of the audit committee and as chairman
of the audit committee. Alberto Crippa resigned from the Supervisory Board after the
Extraordinary Meeting of Shareholders with effect from 25 January 2006. As Wolfgang
Lang resigned from the Supervisory Board, Heribert Kruschik was again delegated to the
Supervisory Board in accordance with a decision by the Employees' Council with effect
from 1 January 2006. At the extraordinary meeting of the Supervisory Board held on 25
January 2006, Robert Zadrazil was appointed to the Managing Board.
In January 2006, following legal proceedings conducted as a test case, a competitor was
served with a decision of the Austrian Supreme Court (3 Ob 238/05d of 21 December
2005) regarding changes in interest rates on savings deposits. As the decision of the Austrian
Supreme Court was issued only recently and the circumstances are very complex,
it is not possible at present to make a fair and reasonable estimate of any amounts of
interest that may have to be refunded. Therefore Bank Austria Creditanstalt was unable
to make a provision in the financial statements for possible claims.
Risk report
Bank Austria Creditanstalt identifies, measures, monitors and manages all risks of the
Bank Austria Creditanstalt Group. In performing these tasks, Bank Austria Creditanstalt
works closely with the risk control and risk management units of HypoVereinsbank and,
on the basis of the new group structure, it has also worked closely with the responsible
units of UniCredit for several months. In this context, Bank Austria Creditanstalt supports
UniCredit’s efforts to establish uniform group-wide risk controlling procedures.
(39c) Investments in associated
companies not accounted for
under the equity method
(40) Employees
(41) Events after the balance
sheet date
(42) Overall risk management