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Glossary Important concepts and terms used in this Annual Report are explained and defined below. AVE is the key measure of Bank Austria Creditanstalt’s value creation capabilities. It covers the absolute contribution to results by the entire bank, the business segments or the subordinated levels, which exceeds or falls short of the cost of capital (excess corporate profit). The cost of capital, pursuant to the capital asset pricing model (CAPM), is the (minimum) return which a shareholder can expect from Bank Austria Creditanstalt by virtue of its specific business and risk profile (as opposed to the fully diversified market portfolio). DAVE shows to what extent AVE has changed, i.e., it is a measure for value created in a specific period. This is the sum of assets, off-balance sheet items and special off-balance sheet items related to the banking book and weighted by transaction/counterparty risk, calculated in accordance with Austrian banking supervision rules. Also referred to as risk-weighted assets (RWA). The computation of capital requirements is based on the assessment basis. See the table on capital resources in note 49. This financing instrument involves taking financial assets out of a company’s balance sheet and refinancing these assets on the international money and capital markets separately from the remaining company through an enterprise founded specifically for this purpose. The refinancing takes place through the issuance of asset-backed securities or asset-backed commercial paper. Financial assets which qualify for refinancing include receivables for goods and services, receivables from lending or leasing operations, and rents receivable. The removal of financial assets from the balance sheet permits more flexible management of the company’s risk structure. The management of assets on behalf of customers such as businesses, banks, insurance companies, pension funds and private individuals. Asset management includes the management of funds and other portfolios of investments in equities, bonds, cash and real estate. The Austrian Banking Act as amended. The Austrian Commercial Code as amended. Assets held by the bank in respect of which the capital requirements pursuant to the Austrian Banking Act are not to be computed using the special rules applicable to the trading book. See “New Basel Capital Accord”. 186 Glossary Added value on equity (AVE)/ Delta added value on equity (DAVE) Assessment basis as defined in the Austrian Banking Act (risk-weighted assets) Asset-backed securities (ABS) Asset management Austrian Banking Act Austrian Commercial Code Banking book Basel II
Benchmarking Book value per share Business units of Bank Austria Creditanstalt Capital requirement Capital resources pursuant to the Austrian Banking Act Cash management CEE Companies accounted for under the equity method Consolidated companies Corporate governance Systematic comparison of business processes/performance with the relevant parameters of other companies, or comparison of one company with the most successful company on the market, with the purpose of establishing the company’s standing in relation to its competitors. For the purpose of determining the book value per share, shareholders’ equity is divided by the number of shares outstanding. The ratio is an indicator of a company's net asset value. Branches and other units of Bank Austria Creditanstalt AG and its subsidiaries providing direct customer services. In accordance with the solvency provisions, banks are required always to maintain net capital resources in the amount specified in Section 22 (1) 1 to 4 of the Austrian Banking Act. Pursuant to the provisions of the Austrian Banking Act based on the Basel Capital Accord (Basel I), the capital requirement is 8 % of the assessment basis as defined in the Austrian Banking Act. See the table on capital resources in note 49. Capital resources are divided on the basis of their quality into Tier 1 capital (core capital), Tier 2 capital (supplementary elements) and available Tier 3 capital. Tier 3 capital can only be used to cover the regulatory capital requirement for the trading book and for the open foreign exchange positions. The Austrian Banking Act, in its provisions regulating capital resources, specifies the amount of capital resources to be held by banks to cover the risks they incur as part of their business activities. See the table on capital resources in note 49. Collection and use of multiple account information to optimise payment flows and improve the profitability of companies and financial institutions. CEE stands for Central and Eastern Europe. For the purposes of this Annual Report, CEE comprises the following countries: Poland, Hungary, the Czech Republic, Slovakia, Slovenia, Croatia, Romania, Bulgaria, Bosnia and Herzegovina, and Serbia and Montenegro. These are companies which are not controlled by the reporting enterprise, but on which the enterprise can exercise a significant influence. Equity interests in such companies are stated in the consolidated balance sheet at the share of net assets. The share of profits or losses is included in the consolidated income statement. These are significant controlled companies whose assets, liabilities, income and expenses are, after eliminations, included in the consolidated financial statements of Bank Austria Creditanstalt. Standards defined for the transparent management and supervision of companies. The recommendations contained in the Code of Corporate Governance create transparency and strengthen confidence in responsible corporate management. These standards above all protect shareholders’ interests. Glossary 187
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Annual Report Bank Austria Creditan
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The Bank Austria Creditanstalt Shar
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Annual Report Bank Austria Creditan
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Highlights 2005 Awards 2005 1 Janua
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A word of thanks to our employees T
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8 Letter from the CEO of the new Un
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4 pages reserved for illustrations
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“As a member of UniCredit Group w
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as an organisational principle has
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We attach great importance to human
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International Markets Willi Hemetsb
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Growth in Austria slightly above EU
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� Net income up by 60 %. 21% incr
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The “sustainable” income compon
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Net trading result € m 2005 2004
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higher revenue without significant
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In 2005 our multi-year Fit for Sale
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from classic on-balance sheet produ
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Net fee and commission income in CE
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employees’ qualification levels a
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Outlook Global economic environment
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Outlook for Bank Austria Creditanst
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Other shareholders 0.2% Austria 0.9
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IPO targets met ahead of time Finan
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Austrian Customer Business Bank Aus
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Linking sales channels � Mix of s
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Lowering the proportion of lending
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Loans to private customers grow mor
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Flexible products for closing the p
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Cards for young people Security - a
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Network bank for international corp
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Corporate finance, not just for lar
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International Markets (INM) The Int
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Record year on the Vienna Stock Exc
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4 pages reserved for illustrations
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“The upswing experienced by the C
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In the retail/private customers seg
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Our efforts to offer products meeti
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Slovakia - HVB Bank Slovakia € m
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Outlook With the planned expansion
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International Markets Business deve
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Following the big success of the pr
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Acquisition of Eksimbanka By acquir
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“As a bank with growing business
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Risk structure by region and busine
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“The higher the level of standard
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Basel II The roll-out of the module
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“Today we expect our bank employe
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manager, the higher his classificat
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Consolidated Financial Statements i
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Income statement of the Bank Austri
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Statement of changes in shareholder
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Notes to the Consolidated Financial
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IFRSs applied Title Application App
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Income statement of the Bank Austri
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Loans and receivables are carried i
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Accounting for leases as lessee: in
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The present value of pension obliga
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as the identification of intangible
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€ m 2005 2004 Staff costs 1,491 1
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€ m 2005 2004 Bonds and other fix
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Leasing business Total gross and ne
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Movements in investments in 2005
Page 132 and 133: In 2005, deferred taxes were partly
Page 134 and 135: Liabilities evidenced by certificat
Page 136 and 137: € m 2005 2004 Negative fair value
Page 138 and 139: Emoluments of members of Bank Austr
Page 140 and 141: Most of the trading assets and trad
Page 142 and 143: Segment reporting € m Private SME
Page 144 and 145: € m 2005 2005 2004 2004 Assets Li
Page 146 and 147: In the 2005 financial year, aggrega
Page 148 and 149: Market risk management encompasses
Page 150 and 151: VaR of the Bank Austria Creditansta
Page 152 and 153: Basis point values of the Bank Aust
Page 154 and 155: High-yield portfolio: composition o
Page 156 and 157: Market risk limit utilisation in CE
Page 158 and 159: Liquidity ratios of the Bank Austri
Page 160 and 161: Operational risk is defined as the
Page 162 and 163: experience in the past. Moreover, s
Page 164 and 165: Total volume of outstanding financi
Page 166 and 167: The following tables show the capit
Page 168 and 169: Report of the Auditors We have audi
Page 170 and 171: Report of the Supervisory Board In
Page 172 and 173: Corporate Governance Bank Austria C
Page 174 and 175: Supervisory Board and Managing Boar
Page 176 and 177: Income statement of the Bank Austri
Page 178 and 179: Income Statement of our Consolidate
Page 180 and 181: Balance Sheets of our Consolidated
Page 184 and 185: General administrative expenses div
Page 186 and 187: In 1988, the Basel Capital Accord (
Page 188 and 189: Office Network of the Bank Austria
Page 190 and 191: Central and Eastern Europe Bosnia a
Page 192 and 193: Other Countries 196 Office Network
Page 194: Investor Relations Investor Relatio
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