Bilansi uspjeha - Raiffeisen Bank

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Bilansi uspjeha - Raiffeisen Bank

Pregled ključnih podataka

Survey of Key Data

Raiffeisen BANK d.d. Bosna i Hercegovina

Monetarne vrijednosti u €mn

Monetary values are in €mn 2005 2004

Bilans uspjeha

Income Statement

Promjena

Change

Neto prihod od kamate nakon oporezivanja

Net interest income after provisioning 32,77 26,58 23,3%

Neto prihod od provizija

Net commission income 15,41 16,03 -3,9%

Poslovna dobit

Trading profit 2,97 2,63 13,1%

Opći administrativni troškovi

General administrative expenses 38,36 32,96 16,4%

Dobit prije poreza

Profit before tax 12,39 10,81 14,6%

Dobit nakon poreza

Profit after tax 12,39 10,81 14,6%

Bilans stanja

Balance Sheet

Krediti i avansi bankama

Loans and advances to banks 333,53 298,03 11,9%

Krediti i avansi klijentima

Loans and advances to customers 681,06 541,39 25,8%

Depoziti od banaka

Deposits from banks 303,44 222,73 36,2%

Depoziti od klijenata

Deposits from customers 831,88 713,94 16,5%

Kapital (uklj. dobit)

Equity (incl. profit) 86,64 68,39 26,7%

Ukupni bilans stanja

Balance-sheet total 1,274,89 1,043,03 22,2%

Obavezne informacije

Regulatory information

Rizikom ponderisana aktiva

Risk-weighted assets 931,11 739,95 25,8%

Koeficijent adekvatnosti kapitala

Capital Adequancy Ratio 14,1% 13,5% 0.6 PP

Učinak

Performance

Povrat na kapital (ROE) prije poreza

Return on equity (ROE) before tax 17,3% 21,5% (4.2 PP)

Povrat na kapital (ROE) nakon poreza

Return on equity (ROE) after tax 17,3% 21,5% (4.2 PP)

Koeficijent trošak /prihod

Cost/income ratio 66,6% 63,7% 2.9 PP

Povrat na aktivu (ROA) prije poreza

Return on assets (ROA) before tax 1,1% 1,2% (0.1 PP)

Resursi

Resources

Broj zaposlenika

Number of staff 1,205 1,109 8,7%

Poslovne jedinice

Business outlets 67 61 9,8%


Godišnji izvještaj 2004

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Sadržaj

Contents

Izvještaj predsjednika Nadzornog Odbora ............................................................................6

Report by the President of the Supervisory Board ................................................................7

Predgovor direktora ...............................................................................................................8

Introduction by Chief Executive Officer ...............................................................................9

Makroekonomski agregati ...................................................................................................12

Macroeconomic Aggregates ............................................................................................13

RZB Grupacija i Raiffeisen International ...............................................................................16

The RZB Group and Raiffeisen International ......................................................................17

Raiffeisen BANK d.d. Bosna i Hercegovina ............................................................................18

Raiffeisen BANK d.d. Bosnia and Herzegovina .................................................................19

Uprava Banke .....................................................................................................................22

Bank Management ..........................................................................................................23

Organizaciona struktura banke ...........................................................................................28

Organisation Structure of the Bank .................................................................................29

Sektor za poslovanje sa pravnim licima ...............................................................................30

Corporate Banking Division ............................................................................................31

Sektor za poslovanje sa stanovništvom ..................................................................................32

Retail Division .................................................................................................................33

SME Segment ......................................................................................................................36

SME Segment ..................................................................................................................37

Sektor sredstava i finansijskih tržišta .....................................................................................38

Treasury and Financial Market Division .............................................................................39

Sektor za finansije i računovodstvo ........................................................................................40

Finance and Accounting Division .......................................................................................41

Sektor podrške i platnog prometa .........................................................................................42

Central Processing Division ..............................................................................................43

Bilans stanja ........................................................................................................................46

Balance Sheet .................................................................................................................47

Bilans uspjeha .....................................................................................................................48

Statements of Income .......................................................................................................49

Značajni finansijski pokazatelji .............................................................................................50

Key Financial Highlights ..................................................................................................51

Centrala i filijale ..................................................................................................................70

Head Office and Branches ...............................................................................................70

Adresar ...............................................................................................................................71

Addresses .......................................................................................................................71

Nezavisno revizorsko mišljenje ............................................................................................84

Independent Auditors’ Report ..........................................................................................85

Bilansi uspjeha ...................................................................................................................86

Income Statements .........................................................................................................87

Bilansi stanja ......................................................................................................................88

Balance Sheets .............................................................................................................89

Izvještaji o novčanim tokovima .............................................................................................90

Statements of Cash Flows ...............................................................................................91

Izvještaji o promjenama vlasničke glavnice ............................................................................92

Statements of Changes in Shareholders’ Equity ................................................................93

Napomene uz finansijske izvještaje ......................................................................................94

Notes to the Financial Statements .....................................................................................95

Annual Report 2005

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Izvještaj predsjednika Nadzornog odbora

Izvještaj predsjednika

Nadzornog odbora

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Ispred Nadzornog odbora Raiffeisen BANK d.d. Bosna i Hercegovina i ove godine

sa zadovoljstvom mogu govoriti o uspješnosti poslovanja u prethodnoj godini. Raif-

feisen BANK d.d. BiH zadržala je svoj stabilan rast i poziciju banke sa najvećom

aktivom. Zaključno sa 31. decembrom 2005. godine, aktiva Banke dostigla je iznos

od 2,5 milijarde KM.

Zahvaljujući visokoj profesionalnosti rukovodstva i zaposlenih, te konstantnom

prilagođavanju potrebama tržišta bankarskog sektora u BiH, koje je u stalnom raz-

voju i koje postaje sve konkurentnije banka je zadržala svoju vodeću ulogu.

Uspješnosti Banke svakako je doprinijelo jasno fokusiranje na planiranje i razvoj

poslovne mreže, koja je čini dostupnom klijentima širom Bosne i Hercegovine.

Od samog početka svog rada Banka je imala pionirsku ulogu u procesima uvođenja novih proizvoda i razvoja

poslovanja. Bila je među prvim bankama potpisnicama Ugovora za osiguranje depozita, među najuspješnijim

Bankama u tranziciji unutrašnjeg platnog prometa iz ZPP-a (State Clearing Agency) u komercijalne Banke, naja-

ktivnija Banka u procesu uvođenja EURO valute i prva Banka zastupljena u oba entiteta. Takođe, bila je među

prvim bankama koja je uvela kartično poslovanje, SME program, uslugu internet bankarstva za pravna lica, prva

banka u ugovaranju i distribuciji ino kreditnih linija ( DEG, KfW, IFC i drugih).

Bila je najznačajnija Banka u podršci razvoja domaće privrede, najveći kreditor u posljednjih pet godina i imala

je znatno učešće u velikim izvoznim finansiranjima.

Raiffeisen banka je bitan dio Raiffeisen International Bank-Holding AG (Raiffeisen International), jedne od

vodećih bankarskih grupacija u Centralnoj i Istočnoj Evropi. Razlog uspjeha Raiffeisen International-a je u njego-

vom sveobuhvatnom prisustvu u regionu i ponudi naprednih bankarskih proizvoda i usluga u svim segmentima

poslovanja.

Iako je BiH u grupi zemalja sa srednje visokim rizikom za strana ulaganja, što je ocjena bonitetske agencije

Moody’s, evidentan je priliv stranog kapitala, naročito bankarskih grupacija iz Evrope. U proteklim godinama u

ovoj je zemlji uloženo mnogo napora kako bi se ojačala njena političko ekonomska stabilnost. Stoga je realno

očekivati da će rezultat navedenog biti stvaranje uslova za poboljšanje međunarodnog kreditnog rejtinga, što će

svakako doprinijeti smanjenju cijene kapitala, a samim tim i povoljnijim uslovima kreditiranja kako stanovništva

tako i bh privrednika.

Raiffeisen International spremno podržava sve inicijative Raiffeisen banke upućene relevantnim vlastima i insti-

tucijama, koje potpomažu razvitak bankarskog i finansijskog sektora u BiH.

U ime svih članova Nadzornog odbora zahvaljujem se rukovodstvu Banke, kao i svim njenim zaposlenicima za

njihov predan rad i profesionalnost. Takođe, zahvaljujem se svim klijentima koji su nam, poslujući sa nama,

ukazali svoje povjerenje.

Vjerujem da će Raiffeisen BANK d.d. BiH, slijedeći svoju strategiju, dostići nove uspjehe u 2006. godini.

Dr. Herbert Stepic

Predsjednik Nadzornog odbora


Report by the President

of the Supervisory Board

On behalf of the Supervisory Board of Raiffeisen BANK d.d. Bosna i Hercegovina, I can again report with plea-

sure about the successful business activities of the previous year. Raiffeisen BANK maintained its stable growth

and position of the bank with the highest assets. As of December 31, 2005, the Bank’s assets reached KM 2,5

billion.

Owing to the high professionalism of the management and employees, as well as the continuous adjustment to the

needs of the local banking sector, which is in continuous development and becoming more and more competitive,

the bank kept its leading position.

The success of the Bank was certainly based on the clear focus on the development of the business network, which

is today available for customers throughout Bosnia and Herzegovina.

From the very beginning of its operations, the Bank has had a pioneer role in introducing new products and busi-

ness opportunities. It was amongst the first banks which signed the Agreement for Deposit Insurance, amongst

the most successful banks in the transition process of international payments from the State Clearing Agency to

commercial banks, the most active bank in introducing the EURO and the first bank present in both entities. It

was also one of the first banks to introduce card operations, an SME programme, internet banking service for

corporate entities and, not least, the first bank contracting and distributing foreign credit lines (from DEG, KfW,

IFC and others).

It was the most significant bank in supporting the development of the local economy, the biggest creditor in the

last five years and it had considerable share in big export financings.

Raiffeisen BANK is an important part of Raiffeisen International Bank-Holding AG, one of the leading banking

groups in the Central and Eastern Europe. The reason for Raiffeisen International’s success is its comprehensive

presence in the region and its offering of state-of-the-art banking products and services across all business seg-

ments.

Although, according to Moody’s, BiH is in the group of countries with medium risk for foreign investments, there

is considerable inflow of foreign capital, especially from European banking groups. In the previous year, lots of

efforts were made to strengthen the country’s political and economic stability.It is realistic to expect that these

efforts will lead to a further improvement of its international credit rating, which will in turn certainly contribute

to decrease the price of capital, as well as to more favourable lending conditions both in the retail and the cor-

porate segments.

Raiffeisen International readily supports all initiatives of Raiffeisen BANK directed to the relevant authorities and

institutions, which help to develop the financial sector in BiH.

On behalf of all members of the Supervisory Board, I thank the management of BANK Bank, as well as all its

employees for their dedicated work and professionalism. Also, I thank all customers which, through their business

cooperation with us, have showed their trust. I believe that Raiffeisen BANK, following its strategy, will reach new

successes in 2006.

Herbert Stepic

Chairman of the Supervisory Board

Report by the President of the Supervisory Board

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Predgovor direktora

Predgovor direktora

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U ime Uprave Raiffeisen BANK d.d. Bosna i Hercegovina zadovoljstvo mi je govoriti

o rezultatima koji potvrđuju da smo iza nas ostavili još jednu uspiješnu poslovnu

godinu. Tržišni udio naše banke, obračunat na osnovu ukupne aktive, iznosi 21

posto, čime smo zadržali vodeću poziciju komercijalne banke u Bosni i Hercegovini.

Ostvareni uspjeh potvrđuje da smo spremno dočekali nove izazove nastale konstant-

nim jačanjem konkurencije unutar bankarskog sektora u BiH.

Prethodnu godinu završili smo sa neto dobiti u iznosu od 24,2 milion KM. Aktiva

Banke sa 31. decembrom 2005. godine iznosila je 2.494.767.000 KM, što u odnosu

na 2004. godinu predstavlja povećanje od 22%, kapital je povaćan za 23%, dobit za

15%, krediti za 26%, depoziti 16%.

U prethodnoj godini nastavljeno je širenje naše poslovne mreže. Otvorene su nove poslovnice u

Kiseljaku, Banjoj Luci, Bosanskoj Krupi, Prnjavoru, Zenici i Konjicu.

Kao potvrda našeg uspješnog poslovanja su kako domaća, tako i mnogobrojna međunarodna

priznanja:

The Banker - “Banka godine”

Global Finance - “Najbolja banka u BiH”

Magazin BANKE - tri Zlatna BAM-a

Kristalna prizma - “Najbolju banku u BiH”

Finance Central Europe - četiri nagrade

Uspješnu Raiffeisen grupaciju u BiH u protekloj godini sačinjavalo je pet članica: Raiffeisen

BANK, Raiffeisen osiguranje, Raiffeisen Brokers, Raiffeisen Leasing i Market Investment Group

(MI-GROUP), koji je specijalizovan za upravljanje investicionim fondovima i posredovanje u

prometu vrijednosnim papirima (koje obavlja u ime i za račun Privatizacijskog investicionog

fonda “MI-GROUP” d.d. Sarajevo).

U toku godine UNIQA Group Austria preuzela je našu članicu – Raiffeisen osiguranje. Obzirom

da su Raiffeisen i UNIQA dugogodišnji partneri ne samo na osnovu udruživanja kapitala, naša

saradnja sa Raiffeisen osiguranjem - UNIQA Group Austria bit će nastavljena i ubuduće.

Naš odgovor na postavljene zadatke i izazove proizašle iz novog poslovnog okruženja i u nared-

noj godini bit će fleksibilnost, orjentacija prema klijentu, uvođenje novih tehnologija, unapređenje

poslovnih procesa, inovativni proizvodi, te poslovno usavršavanje naših zaposlenika. Navedene

aktivnosti poduzimaju se u skladu sa našim osnovnim ciljem - povećanje zadovoljstva korisnika

naših usluga i podrška razvoju njihovog poslovanja i kvaliteta življenja.

Ovom prilikom želim se zahvaliti svim našim cijenjenim klijentima i partnerima koji su nam uka-

zali povjerenje. Takođe, naglašavam da su našim zajedničkim uspjesima doprinijeli timski rad,

disciplinovanost, savjesnost i odgovornost naših zaposlenika, kojim se takođe zahvaljujem na

njihovom doprinosu našem zajedničkom uspjehu.

Edin Muftić

Direktor


Introduction by

Chief Executive Officer

Introduction by Chief Executive Officer

On behalf of the Management of Raiffeisen BANK d.d. Bosna i Hercegovina , it is my pleasure to

talk about results which confirm that another successful year was left behind us. Market share of

our Bank, calculated on the basis of total assets, amounts to 21 per cent, by which we retained

the position of leading commercial bank in Bosnia and Herzegovina. Achieved success confirms

that we readily coped with the new challenges resulting from constant strengthening of the com-

petition within the banking sector in BiH.

We ended the previous year with net profit in amount of KM 24,2 million. The assets of the

Bank as of December 31st 2005 amounted to KM 2.494.767.000, which compared to 2004

represents increase by 22%, the equity increased by 23%, profit by 15%, loans by 26%, deposits

by 16%.

Extension of our business network continued during previous year. New branches were opened

in Kiseljak, Banjoj Luka, Bosanska Krupa, Prnjavor, Zenica and Konjic.

Numerous domestic and international awards serve as confirmation of our successful business

operations:

The Banker - “Bank of the Year”

Global Finance - “The Best Bank in BiH”

Magazine BANKE – three awards “Zlatni BAM”

Kristalna prizma - “The Best Bank in BiH”

Finance Central Europe – four awards

Successful Raiffeisen Group in BiH consisted of five members last year: Raiffeisen BANK, Raiffeisen

Insurance, Raiffeisen Brokers, Raiffeisen Leasing and Market Investment Group (MI-GROUP) spe-

cialized in managing investment funds and mediation in securities trading (performed on behalf

and for account of the Privatisation Investment Fund “MI-GROUP” d.d. Sarajevo).

During the year, UNIQA Group Austria took over a member of our Group – Raiffeisen Insurance.

Since Raiffeisen and UNIQA are long-term partners not only on the basis of joining capital, our

cooperation with Raiffeisen Insurance - UNIQA Group Austria will be continued in the future.

Our response to set tasks and challenges arising from new business environment will in the

following year also be flexibility, client orientation, introducing new technologies, improvement

of business processes, innovative products, and professional development of our employees.

Above-mentioned activities are undertaken over in accordance with our primary goal – increase

of satisfaction of users of our services and support to development of their business operations

and quality of living.

On this occasion, we wish to express gratitude to our appreciated customers and partners who

entrusted us with their confidence. Also, I would like to emphasise that our joint successes are

also contributed by the teamwork, discipline, diligence and responsibility of our employees,

whom I also wish to thank for their contribution to our joint success.

Edin Muftić

CEO

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Makroekonomski agregati

Makroekonomski agregati

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Makroekonomski pregled

Provedba ekonomskih reformi i ubrzani tranzicijski procesi u svim dijelovima ekonomskog sistema

i u ovoj godini su generirali nastavak kontinuiranog trenda rasta poslovnih aktivnosti u Bosni i

Hercegovini. Prema projiciranim podacima realna stopa rasta bruto domaćeg proizvoda u 2005.

godini, zabilježila je vrijednost od 5.8%, dok prognoze za 2006. godinu ukazuju da bi realni rast

BDP-a trebao ostati na postojećim razinama. Istovremeno i drugi fundamentalni ekonomski indikatori

pokazuju pozitivne vrijednosti, što se posebno ogleda u rastu industrijske proizvodnje, koja

u decembru u odnosu na isti mjesec prethodne godine u Federaciji BiH ostvaruje rast od 5.1%, a

u Republici Srpskoj 12.9%.

Za razliku od prethodnih godina kada je inflacija iskazivala postojano niske vrijednosti, pod

utjecajem globalnih činitelja, posebno rasta cijene energenata na svjetskom tržištu, u ovoj godini

vidljiv je razvoj pritiska na rast potrošačkih cijena, te je prosječna stopa inflacije zabilježila vrijednost

od 3.6 posto. Uvođenje Poreza na dodanu vrijednost (PDV) u 2006. godini trebalo bi dovesti

do nastavka ograničenog inflatornog pritiska koji će prema postojećim procjenama producirati

vrijednost prosječne inflacije na razini iznad 4 postotna poena. S druge strane, blago poboljšanje

životnog standarda vidljivo je kroz prizmu kretanja neto ličnog dohotka koji je u 2005. godini rastao

po nominalnoj stopi od 7.3%, dok je njegova realna stopa rasta iznosila 2.9%. Unatoč problemima

vezanim za neusklađenost s međunarodnim statističkim standardima treba istaći da stopa registrirane

nezaposlenosti na kraju godine iznosi 44%, dok anketna nezaposlenost bilježi znatno manju

razinu. Navedeno potkrepljuje tezu da u BiH postoji značajan dio neregistrirane poslovne djelatnosti

što onemogućuje egzaktno mjerenje stvarne razine nezaposlenosti.

Deficit tekućeg računa bilansa plaćanja u relativnom iznosu od 23.9 posto udjela u BDP-u, rezultat

je vanjskotrgovinskog deficita u iznosu od 3.7 mlrd EUR. Pokrivenost uvoza izvezenim robama

zabilježila je vrijednost od 34.4%. Ovakvi rezultati ukazuju na potrebu poticanja stranih direktnih

ulaganja u cilju jačanja konkurentske sposobnosti privrede i njene izvozne orjentiranosti. Ukupna

strana ulaganja u 2005. godini dosegla su vrijednost od 338 mio EUR. U isto vrijeme, neto devizne

rezerve bilježe vrijednost od 2.14 mlrd EUR, dok vanjski dug iznosi 2.15 mlrd EUR.

Ekonomski indikatori

2001 2002 2003 2004 2005

Nominalni BDP (mlrd EUR) 5.6 6.0 6.3 6.6 7.1

Realna promjena BDP (% yoy) 4.5 5.5 3.0 5.0 5.8

Industrijska proizvodnja (% yoy) -2.0 11.5 3.8 12.0 7.0

Stopa nezaposlenosti (%) 40.0 40.5 41.5 42.0 44.0

Proizvođačke cijene (avg, % yoy) 2.4 0.6 0.8 1.5 2.0

Potrošačke cijene (avg, % yoy) 3.1 0.4 0.6 0.4 3.6

Vladine finansije (% BDP) -3.3 -0.2 0.8 1.8 0.5

Tekući račun bilance plaćanja (% BDP) -16.1 -22.1 -24.5 -23.5 -23.9

Devizne rezerve (mlrd EUR ) 1.4 1.3 1.4 1.7 2.1

EUR/BAM (avg) 1.96 1.96 1.96 1.96 1.96

EUR/USD(avg) 0.90 0.95 1.13 1.24 1.24

Izvor: Thomson Financial Datastream, CB BiH, Raiffeisen RESEARCH Austria


Macroeconomic Aggregates

Macroeconomic overview

Macroeconomic Aggregates

Implementation of economic reforms and accelerated transition processes in all parts of the economic

system in this year also generated continuation of growing trend of business activities in Bosnia and

Herzegovina. According to the projected data, actual growth rate of gross domestic product in year

2005 was 5.8%, while forecasts for year 2006 indicate that actual growth of GDP should remain on

the existing levels. Simultaneously, other fundamental economic indicators also show positive values,

which especially reflects in growth of industrial production, which in December, in comparison to the

same month of the previous year, in Federation B&H increased by 5.1%, and in Republika Srpska by

12.9%.

Apart from the previous years when inflation was persistantly very low, under influence of global

factors, especially growth of power sources in the world market, in this year pressure development

on increase of prices of consumer goods is evident, and average inflation rate was 3.6 percent.

Introduction of value added tax (VAT) in year 2006 should lead to continuation of inflation pressure

which, according to the existing assessments, will produce value of average inflation at the level

above 4 percentage points. On the other hand, slight improvement of life standard is visible through

the prism of trend of net personal income which in 2005 increased per nominal rate of 7.3% while

its actual growth rate was 2.9%. Besides problems related to the mismatch with international statistic

standards, it should be pointed out that registered unemployment rate at the end of the year was

44%, while according to survey unemployment was significantly lower. The aforementioned supports

the thesis that there is a significant part of unregistered business activity in B&H which disables exact

measurement of actual level of unemployment.

Deficits of current account balance in relative amount of 23.9 of share in GDP is result of foreign

trade deficit in amount of EUR 3.7 billion. Coverage of import by exported goods was 34.4%. Such

results indicate to the need for providing incentives to foreign direct investments with purpose of

strengthening competitive ability of economy and its export orientation. Total foreign investments in

year 2005 reached the value of EUR 338 mio. At the same time, net FX reserves had value of EUR

2.14 billion, while external debt amounted to EUR 2.15 billion.

Economic indicators

2001 2002 2003 2004 2005

Nominal GDP (billion EUR) 5.6 6.0 6.3 6.6 7.1

Real change of GDP (% yoy) 4.5 5.5 3.0 5.0 5.8

Industrial production (% yoy) -2.0 11.5 3.8 12.0 7.0

Unemployment rate (%) 40.0 40.5 41.5 42.0 44.0

Production prices (aug, % yoy) 2.4 0.6 0.8 1.5 2.0

Consumer prices (aug, % yoy) 3.1 0.4 0.6 0.4 3.6

Government finances (% BDP) -3.3 -0.2 0.8 1.8 0.5

Current account balance (% GDP) -16.1 -22.1 -24.5 -23.5 -23.9

FX reserves (billion EUR ) 1.4 1.3 1.4 1.7 2.1

EUR/BAM (aug) 1.96 1.96 1.96 1.96 1.96

EUR/USD(aug) 0.90 0.95 1.13 1.24 1.24

Source: Thomson Financial Datastream, CB BiH, Raiffeisen RESEARCH Austria

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Makroekonomski agregati

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Finansijski sistem i dalje pokazuje karakteristike svoje bankovne zasnovanosti, što potkrepljuje

podatak o finansijskoj snazi bankarskog sistema. Naime, ukupna aktiva bankarskog sektora na

kraju 2005. godine čini 85 postotnih poena bruto domaćeg proizvoda. S druge strane, istodob-

no s financijskim jačanjem bankarskog sektora došlo je do rasta prometa na uređenim tržištima

vrijednosnih papira (SASE – Sarajevo Stock Exchange i BLSE – Banja Luka Stock Exchange). Tako

je na SASE zabilježen promet vrijednosnim papirima u iznosu od 283.77 mio EUR, dok je u isto

vrijeme na BLSE zabilježen promet od 142.14 mio EUR. U 2006. godini očekuje se nastavak

pozitivnog trenda na berzanskim tržištima, te se stoga na SASE predviđa promet vrijednosnim

papirima u iznosu od 374 mio EUR.

Konsolidacija bankarskog sektora iskazana rastom koncentracije vodećih bankarskih grupa,

ulazak stranih finansijskih institucija kroz preuzimanje domicilnih banaka, te povećanje efikas-

nosti i profitabilnosti bankarskog poslovanja fundamentalne su karakteristike bh. bankarskog

sektora u 2005. godini. Tokom godine Nova Ljubljanska Banka preuzela je dvije bh. banke

- Tuzlansku Banku i Razvojnu Banku Jugoistočne Evrope iz Banja Luke. BankAustria CreditAnstalt

izvršila je akviziciju Nove Banjalučke Banke, dok je talijanska Banca Intesa preuzela manjinski

udjel u UPI Banci iz Sarajeva, te je već na početku 2006. godine javnom ponudom stekla preko

80% vlasništva nad ovom bankom. Ovaj proces doveo do jačanja koncentracije, mjereno udje-

lom aktive 5 vodećih bankarskih grupa u ukupnoj aktivi bankarskog sektora, te ona na kraju

2005. godine iznosi preko 78 posto. Istovremeno je udjel aktive banaka u stranom vlasništvu u

ukupnoj aktivi bankarskog sektora narastao na razinu od 90.7 postotnih poena.

Tokom promatranog razdoblja aktiva bh. bankarskog sektora rasla je po stopi od 26 posto,

te je na kraju 2005. godine ostvarila vrijednost od 11.77 mlrd BAM. Doprinos kontinuiranom

i signifikantnom procesu rasta bankarskog sektora, prema nerevidiranim podacima, dao je

rast ukupnih depozita u relativnom iznosu od 27 posto. S druge strane, ukupni krediti su tokom

godine rasli po stopi od 29 posto. U konačnici ovo je dovelo do smanjenja omjera pokrivenosti

ukupnih kredita ukupnim depozitima na razinu od 1.25, što je još uvijek značajno više u odnosu

na razvijene evropske bankarske sisteme.

Promatrajući u cjelini, učinkovitost i profitabilnost bh. bankarskog sektora dosegla je respektabil-

no visoku razinu. Na kraju 2005. godine ostvarena je konsolidirana dobit poslije oporezivanja

u iznosu od 96 mio BAM, što predstavlja rast ove agregirane varijable u odnosu na prethodnu

godinu u relativnom iznosu od 71 procentnog poena.

Proces razvoja i rasta bankarskog sektora i u narednoj godini uzrokovat će nastavak konsoli-

dacijskih procesa. Unatoč tome što ove godine nije došlo do smanjenja broja banaka, u nared-

nom razdoblju taj će se proces sasvim izvjesno intenzivirati kao rezultat međusobnog spajanja

i pripajanja banaka koje su u vlasništvu istih poslovnih subjekata. Isto tako, razvoj pregovora s

EU doprinijet će usvajanju potrebnih institucionalnih okvira kao neophodnog preduvjeta u struk-

turnom jačanju bankarskog i ukupnog finansijskog sistema u Bosni i Hercegovini.


Macroeconomic Aggregates

Financial system still shows characteristics which indicate that it is based on banking, which is supported

by the data on financial strength of the banking system. Namely, total assets of the banking

sector at the end of year 2005 makes 85 of percentage points of gross domestic product. On the

other hand, along with the financial strengthening of the banking sector there was a growth of

trading oriented securities markets (SASE – Sarajevo Stock Exchange and BLSE – Banja Luka Stock

Exchange). So, securities on SASE was recorded in amount of EUR 283.77 mio, while at the same

time trading on BLSE was EUR 142.14 mio. In 2006, positive trend on stock exchange markets is

expected to be continued, and therefore SASE forecasts securities trading in amount of EUR 374

mio.

Consolidation of the banking sector is reflected in increase of concentration of leading bank groups,

entry of foreign financial institutions through acquisition of domestic banks, as well as increase in

efficiency and profitability of the banking operations are fundamental characteristics of BH banking

sector in the year 2005. During the year, Nova Ljubljanska Banka acquired two BH banks – Tuzlanska

Banka and Razvojna Banka Jugoistočne Evrope, while Italian Banca Intensa acquired minor

share in UPI Banka from Sarajevo, and already at the beginning of 2006, through the public offer,

it acquired 80% of ownership over this bank. This process led to strengthening of concentration,

measured by share of assets of 5 leading banking groups in total assets of the banking sector, and

at the end of 2005 this share was over 78%. At the same time, share of assets of banks in foreign

ownership in total assets of the banking sector reached the level of 90.7 percentage points.

During the observed period, assets of BH banking sector increased by a rate of 26 per cent, and

at the end of 2005 it realised value of BAM 11.77 billion. Contribution to continuous and significant

growing process of the banking sector, according to the unaudited data, resulted in growth of

total deposits in relative amount of 27 percent. On the other side, total loans increased under the

rate of 29 percent during the year. Finally, this led to decrease of coverage ratio of total loans by

total deposits at the level of 1.25, which is still significant in comparison to the developed banking

systems.

By observing the overall situation, efficiency and profitability of BH banking sector reached respectably

high level. At the end of 2005, consolidated profit after taxation was generated in amount of

BAM 96 mio, which represents increase of these aggregated variables in comparison to the previous

year in relative amount of 71 percentage points.

Process of development and growth of banking sector will cause continuation of consolidation processes

in the forthcoming year as well. Despite the fact that there was no decrease in number of

banks in this year, in the next period this process will be certainly intensified as a result of mutual

merger and acquisition of banks which are owned by the same legal entities. Also, development

of negotiations with EU will contribute to adoption of required institutional frames as a necessary

precondition in structural strengthening of banking sector and overall financial system in Bosnia

and Herzegovina.

www.raiffeisenbank.ba

15


RZB Grupacija i Raiffeisen International

RZB Grupacija i

Raiffeisen International

16 www.raiffeisenbank.ba

Raiffeisen International je u potpunosti konsolidovano supsidijarno lice Raiffeisen Zentralbank Österreich

AG (RZB) sa sjedištem u Beču. RZB je matična kompanija RZB grupacije i centralna institucija austrijske

Raiffeisen bankarske grupacije, najjače bankarske grupacije u zemlji sa najvećom lokalnom distribucijskom

mrežom.

Osnovan 1927. godine, RZB pruža cijelu lepezu komercijalnih i usluga investicionog bankarstva u Austriji i

smatra se pionirom u Centralnoj i Istočnoj Evropi (CIE). Ona je među vodećim bankama u regionu. Svoje

komercijalne, investicijske i usluge poslovanja sa fizičkim licima pruža na sljedećim tržištima: Albanija,

Bjelorusija, Bosna i Hercegovina, Bugarska, Hrvatska, Češka Republika, Mađarska, Kosovo, Poljska,

Rumunija, Rusija, Srbija i Crna Gora, Slovačka, Slovenija i Ukrajina.

Raiffeisen International radi kao rukovodeća kompanija koja posjeduje većinu dionica (u većini slučajeva

100 ili gotovo 100 posto). Također, brojna društva za finansijski lizing (uključujući jedno u Kazahstanu)

dio su grupacije. Nakon najveće inicijalne javne ponude u istoriji Austrije u aprilu 2005., RZB je ostao

većinski dioničar Raiffeisen International-a sa 70-procentnim udjelom u kapitalu. Preostalih 30 procenata

je u slobodnom opticaju, i u vlasništvu je institucionalnih i retail investitora.

Sa krajem 2005., 2.443 podružnica pokrivalo je region CIE-a i preko 43.600 zaposlenih koji su pružili

usluge za 9,7 miliona klijenata.

Sa krajem 2005., ukupna aktiva Raiffeisen International-a iznosila je € 40,7 milijardi, što je za 41 procenat

više u poređenju sa decembrom 2004. Konsolidovani profit (nakon manjinskih dioničara) u skladu

sa MFRS-om iznosio je € 382,3 miliona, što predstavlja povećanje za 83 procenta. Povrat na kapital prije

poreza dostigao je 21,8 procenata a koeficijent trošak/prihod je poboljšan na 61,6 procenata.

Zaključno sa 31. decembrom 2005., ukupna bilansna svota RZB grupacije iznosila je € 93,9 milijardi,

sto je do 38 procenata više od kraja 2004. godine. Dobit prije poreza u skladu sa MFRS-om iznosila je €

929,9 miliona, što predstavlja povećanje od 34 procenta u poređenju sa istim periodom 2004. Povrat na

kapital prije poreza bio je 23,9 procenata a koeficijent trošak/prihod poboljšan je na 58,9 procenata.

Pored bankarskih poslova – koji su upotpunjeni i predstavništvima u Litvaniji (Vilnius), Moldaviji (Chisinau)

i Rusiji (Moskva) – RZB vodi nekoliko specijalizovanih kompanija u CIE-u koje nude rješenja, između ostalog

u oblasti M&A-a, razvoju nekretnina, upravljanja fondovima, lizinga i stambenog kreditiranja.

U Zapadnoj Evropi i u Sjedinjenim Državama, RZB upravlja filijalom u Londonu i predstavništvima u Njujorku,

Briselu, Frankfurtu, Milanu, Parizu i Štokholmu. Finansijska kompanija u Njujorku (sa predstavnistvima

u Čikagu i Hjustonu) i supsidijarna banka na Malti upotpunjuju ovu lepezu. U Aziji, RZB vodi filijale

u Pekingu (sa predstavništvom u Zhuhaiu) i Singapuru kao i predstavništva u Ho Si Minu, Hong Kongu,

Mumbaiu, Teheranu i Seulu. Ovo međunarodno prisustvo jasno podvlači strategiju banke na tržištima u

razvoju.

RZB je rangiran na sljedeći način:

• Standard & Poor’s Kratkoročni A1

• Moody’s Kratkoročni P-1

• Moody’s Dugoročni A1

• Moody’s Finansijska snaga C+

www.rzb.at, www.ri.co.at


The RZB Group and

Raiffeisen International

RZB Group & Raiffeisen International

Raiffeisen International in turn is a fully consolidated subsidiary of Vienna-based Raiffeisen Zentralbank

Österreich AG (RZB). RZB is the parent company of the RZB Group and the central institution of the Austrian

Raiffeisen Banking Group, the country’s most powerful banking group with the largest local distribution

network.

Founded in 1927, RZB provides the full range of commercial and investment banking services in Austria

and is regarded a pioneer in Central and Eastern Europe (CEE). It ranks among the region’s leading

banks, offering commercial, investment and retail banking services in the following markets: Albania,

Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Kosovo, Poland, Romania,

Russia, Serbia and Montenegro, Slovakia, Slovenia and Ukraine.

Raiffeisen International acts as these banks’ steering company, owning the majority of shares (in most

cases 100 or almost 100 per cent). Furthermore, numerous finance leasing companies (including one

in Kazakhstan) are part of the group. Following the largest IPO in Austria’s history in April 2005, RZB

remains Raiffeisen International’s majority shareholder owning 70 per cent of the capital stock. The

remaining 30 per cent is free-float, owned by institutional and retail investors.

At year-end 2005, 2,443 business outlets covered the CEE-region and more than 43,600 employees

attended to 9.7 million customers.

As of year-end 2005, Raiffeisen International’s total assets amounted to € 40.7 billion, up 41 per cent compared

with December 2004. Consolidated profit (after minorities) according to IFRS came to € 382.3 million,

an increase of 83 per cent. The return on equity before tax reached 21.8 per cent and the cost/income

ratio improved to 61.6 per cent.

As per 31 December 2005, the RZB Group’s balance-sheet total amounted to € 93.9 billion, up 38 per cent

on the figure for year-end 2004. IFRS-compliant profit before tax amounted to € 929.9 million, an increase

of 34 per cent compared with the same period of 2004. The return on equity before tax was 23.9 per cent

and the cost/income ratio improved to 58.9 per cent.

In addition to its banking operations – which are complemented by representative offices in Lithuania (Vilnius),

Moldova (Chisinau) and Russia (Moscow) – RZB runs several specialist companies in CEE offering

solutions, among others, in the areas of M&A, real estate development, fund management, leasing and

mortgage banking.

In Western Europe and the USA, RZB operates a branch in London and representative offices in New York,

Brussels, Frankfurt, Milan, Paris and Stockholm. A finance company in New York (with representative offices

in Chicago and Houston) and a subsidiary bank in Malta complement the scope. In Asia, RZB runs branches

in Beijing (with a representative office in Zhuhai) and Singapore as well as representative offices in Ho Chi

Minh City, Hong Kong, Mumbai, Tehran and Seoul. This international presence clearly underlines the bank’s

emerging markets strategy.

RZB is rated as follows:

• Standard & Poor’s Short-term A1

• Moody’s Short-term P-1

• Moody’s Long-term A1

• Moody’s Financial Strength C+

www.rzb.at, www.ri.co.at

www.raiffeisenbank.ba

17


Raiffeisen BANK d.d. Bosna i Hercegovina

Raiffeisen BANK d.d.

Bosna i Hercegovina

18 www.raiffeisenbank.ba

Raiffeisen BANK d.d. Bosna i Hercegovina , je članica RZB grupacije i supsidijarno lice Raiffeisen

International Bank-Holding AG.

Banka kao finansijska institucija posluje od novembra 1992. godine, kada je osnovana kao Market

banka dd Sarajevo, s dominantnim učešćem privatnog kapitala od preko 90%. Kvalitetom svog

poslovanja brzo se izdvojila kao vrlo uspješna i profitabilna banka.

Od 1996. do 2000. godine Banka je bila jedan od vodećih bankarskih partnera internacionalnim

finansijskim institucijama (Svjetska banka, IFC, KfW, SOROŠ i EBRD) u implementiranju kreditnih

linija. Britanski finansijski časopis “Central Europen” dodijelio je Market banci nagradu, kao

najboljoj bankarskoj instituciji u Bosni i Hercegovini za 1999. godinu.

Raiffeisen Zentralbank Österreich AG-Vienna kupuje Market banku 21. jula 2000. godine i

uspješno je integrirana u Raiffeisen mrežu u okviru koje posluje pod imenom Raiffeisen Bank dd

Bosna i Hercegovina.

U maju 2001. godine RZB postaje stopostotni vlasnik Hrvatske Poštanske banke, kada dolazi do

njenog preimenovanja u Raiffeisen BANK HPB. Od 01.01.2003. godine, kada je uspješno završen

projekat pripajanja Raiffeisen Bank HPB Raiffeisen banci, banka posluje pod jedinstvenim nazivom

Raiffeisen Bank dd Bosna i Hercegovina. Realizacijom ovog projekta Banka je ojačala svoju poziciju

na BH tržištu, povećala bilansnu masu, te značajno proširila svoju poslovnu mrežu.

Vlasnička struktura Raiffeisen BANK dd Bosna i Hercegovina:

Raiffeisen International BANK-Holding AG: 96,99%,

Millenia Beteiligungsverwaltungs: 3,0%,

Ostali dioničari: 0,01%.

Raiffeisen banka je sa 31.12.2005. godine svoje poslove obavljala u 67 poslovnih jedinica, sa

1.195 zaposlenih.

Investiranje u nove tehnologije, iskusno i educirano osoblje koje se stalno usavršava, naglasak na

individualnom pristupu klijentu, te uvođenje novih savremenih proizvoda i usluga predstavlja glavne

faktore konkurentnosti Raiffeisen banke na bosansko-hercegovačkom tržištu.

Raiffeisen grupu u Bosni i Hercegovini pored Raiffeisen banke čine Investicijski fond MI Group, Raiffeisen

osiguranje- UNIQA Group Austria, Raiffeisen Brokers i Raiffeisen Leasing.


Raiffeisen BANK d.d.

Bosnia and Herzegovina

Raiffeisen BANK d.d. Bosnia and Herzegovina

Raiffeisen BANK d.d. Bosna i Hercegovina , is a member of the RZB Group and subsidiary of Raiffeisen

International Bank-Holding AG.

The bank has been operating since November 1992, when it has been founded as Market banka

dd Sarajevo, with the dominant participation of private capital (over 90 %). Quality of business

established it as a very successful and profitable bank.

From 1996 to 2000 the Bank was one of the leading partners in international financial institutions

(World Bank, IFC, KFW, SOROS, EBRD) for implementation of credit lines. British finance magazine

“Central European” awarded Market banka for The Best Banking Institution in B&H in 1999.

On July 21, 2000 Raiffeisen Zentralbank Österreich AG-Vienna purchased Market Banka. Market

banka has been successfully integrated into the Raiffeisen network and today it operates under the

name of Raiffeisen Bank dd Bosnia and Herzegovina.

In May 2001 RZB became the majority owner of Hrvatska Poštanska Bank, on which occasion it was

renamed to Raiffeisen BANK HPB. From January 1, 2003, when the project of integration of Raiffeisen

Bank HPB into Raiffeisen Bank was successfully implemented, the Bank has been operating

under the common name of Raiffeisen Bank dd Bosna i Hercegovina. Implementation of the project

strengthened the position of the Bank in BH market and increased the balance sheet volume to over

one billion KM, significantly extending the branch network.

Ownership structure of Raiffeisen BANK dd Bosna i Hercegovina

Raiffeisen International BANK-Holding AG 96,99 %

Millenia Beteiligungsverwaltungs 3,0 %

Other shareholders 0,01%

As of December 31, 2005 Raiffeisen Bank has been performing its business operations through 67

business units and has 1,195 employees.

Investing in new technologies, experienced and trained staff who are constantly improving their

skills, emphasis on individual approach to the customer and introduction of new, up-to-date products

and services are the main factors of the competitiveness of Raiffeisen Banke in BH market.

Raiffeisen Group in Bosnia and Herzegovina is consisted of Investment Fund MI Group, Raiffeisen

Insurance-UNIQA Group Austria, Raiffeisen Brokers and Raiffeisen Leasing.

www.raiffeisenbank.ba

19


Raiffeisen BANK d.d. Bosna i Hercegovina

20 www.raiffeisenbank.ba

Vizija

Raiffeisen BANK d.d. Bosna i Hercegovina je vodeća banka u svim ciljanim segmentima

klijenata širom zemlje.

Misija

• Težimo ka dugoročnim vezama sa klijentima.

• Nudimo čitav niz usluga visoke kvalitete.

• Kao dio mreže Raiffeisen International-a, doprinosimo postignućima sveukupnih

ciljeva grupacije generisanjem održivog i iznadprosječnog povrata na kapital za naše

dioničare.

• Kao članica RZB Grupacije usko sarađujemo sa Raiffeisen Zentralbank i ostalim

članicama Austrijske Raiffeisen bankarske grupacije.

• Ohrabrujemo naše radnike da budu poduzetni, pokažu inicijativu a mi potičemo njihov

razvoj.

Članice Raiffeisen grupacije u BiH koriste internacionalni Raiffeisen logo koji

se sastoji od dvije stilizirane ukrštene glave konja, simbol koji se može naći u

hiljadama godina staroj narodnoj tradiciji Evrope. To je simbol odbrane od zla

i životne opasnosti koji se još uvijek može naći na seoskim kućama Centralne

Evrope. Prema ciljevima osnivača, članovi Raiffeisena su se zaštitili od ekonomskih

nesigurnosti tako što su se ujedinili i izabrali Gable Cross kao amblem za

zaštitu pod zajedničkim krovom. Logo se razvio u internacionalni dobro poznati znak koji predstavlja

pozitivnu asocijaciju i koristi se diljem svijeta.


Vision

Raiffeisen BANK d.d. Bosnia and Herzegovina

Raiffeisen BANK d.d Bosna i Hercegovina, is the leading bank in all target customer

segments across the country.

Mission

• We seek long-term customer relationships.

• We provide a full range of high quality financial services.

• As part of the Raiffeisen International network, we contribute to the achievement of the

overall group objectives, while generating sustainable and above-average return on

equity for our shareholders.

• As a member of the RZB Group, we cooperate closely with Raiffeisen Zentralbank and

the other members of the Austrian Raiffeisen Banking Group.

• We empower our employees to be entrepreneurial, to show initiative and we foster their

development.

The Members of Raiffeisen Group in B&H use international Raiffeisen logo that consists

of two stylized crossed horses’ heads and can be traced back hundreds of years

to European folk traditions. It is a symbol of defense against evil and life’s dangers

and can still be found on rural houses in Central Europe. According to their founder’s

objectives, Raiffeisen’s members have safeguarded themselves against economic

hazards by uniting within the cooperative and therefore chose the Gable Cross as an

emblem of protection under a shared roof. The logo has developed into an internationally well-known

and very positively associated trademark and is in use around the world.

www.raiffeisenbank.ba

21


Uprava Banke

Bank Management

22 www.raiffeisenbank.ba


www.raiffeisenbank.ba

23


24 www.raiffeisenbank.ba


www.raiffeisenbank.ba

25


26 www.raiffeisenbank.ba


www.raiffeisenbank.ba

27


Organizaciona struktura banke

Organisation Structure of the Bank

Mreža glavnih filijala

Main Branches Network

Glavna filijala Sarajevo

Main Branch Sarajevo

Glavna filijala

Banja Luka

Main Branch

Banja Luka

Glavna filijala Mostar

Main Branch Mostar

Glavna filijala Tuzla

Main Branch Tuzla

Glavna filijala Zenica

Main Branch Zenica

Glavna filijala Bihać

Main Branch Bihać

Filijala Brčko

Branch Brčko

28 www.raiffeisenbank.ba

Sektor za poslove

sa stanovništvom

Retail Division

Odjeljenje za razvoj

proizvoda i njihovu

koordinaciju u poslovnoj

mreži

Product Development &

Network Coordination

Odjeljenje kartično

poslovanje

Cards Business

Sektor podrške

i platnog prometa

Central Processing

Division

Odjeljenje za

medjunarodni

platni promet

International

Payments

Department

SWIFT administracija

SWIFT Administration

Odjeljenje

unutrašnjeg platnog

prometa

Domestic Payments

Department

Administracija

kredita i depozita

Loan and Deposit

Administrations

Sektor za IT

IT

Odjeljenje podrške

informacionim

tehnologijama

Support and IT

Department

Odjeljenje za razvoj

i održavanje

aplikativnog

software-a

Development and

Maintenance of

Application

Software

Odjeljenje za IT GF

Mostar

IT of MB Mostar


Nadzorni odbor

Supervisory Board

Uprava banke

Direktor

Izvršni direktori

Asistent Uprave

Bank Menagement

CEO

Executive Directors

Menagement Assistant

Sektor za finansije i

računovodstvo

Finance & Accounting

Division

Odjeljenje za

računovodstvo

i finansijsko

izvještavanje

Accounting &

Financial Reporting

Odjeljenje za

finansijsku

operativu

Financial

Operations

Odjeljenje za

odnose sa

filijalama

Branch

Relationship

Sektor za poslove sa

pravnim licima

Corporate Division

Odjeljenje koordinacije i

projektnog finansiranja

Coordination and Project

Finance

Odjeljenje ICC za

poslove sa

medjunarodnim

korporativnim

klijentima

ICC- International

Corporate Customers

Department

Odjeljenje BHCC za

poslove s BiH

korporativnim klijentima

BHCC - Corporate

Customers Department

Odjeljenje za razvoj

proizvoda i kvalitet

usluga

Product Development &

Service Quality

Odjeljenje za naplatu

potraživanja

Work-outs Department

Interna revizija

Internal Audit

Sektor sredstava i

finansijskih tržišta

Treasury & Financial

Markets

Odjeljenje trgovine

Trade

Odjeljenje za

korespondentno

bankarstvo

Correspondent

Banking

Odjeljenje za

likvidnost

Liquidity

Odjeljenje za

investiciono

bankarstvo

Investment Banking

Štabne funkcije

Staff Departmens

Odjeljenje za poslove

sa SME klijentima

SME

Upravljanje rizicima i

kreditna analiza

Risk Management and

Credit Analysis

Služba za provodjenje

zakonitosti u

poslovanju Banke

Legal & Compliance

Odjeljenje za kontroling

Controlling

Koordinacija poslovne

mreže

Business Network

Coordination

Marketing

Marketing

Odjeljenje za

kadrovske poslove

Human Resources

Odjeljenje za

organizaciju i

upravljanje procesima

Organisation & Process

Menagement

Odjeljenje za sigurnost

Security

Odjeljenje za tehničko i

investiciono održavanje

Technical and

Investment

Maintenance

Odjeljenje za nabavku

i opšte poslove

Acquisition & General

Savjetnici

Consultans

www.raiffeisenbank.ba

29


Sektor za poslovanje sa pravnim licima

Sektor za poslovanje

sa pravnim licima

30 www.raiffeisenbank.ba

Sektor za poslovanje sa pravnim licima je i u 2005. godini ostvario sve planirane poslovne ciljeve.

U toku 2005. godine akvizirana su 493 nova klijenta, čime je ukupan broj korporativnih klijenata

povećan za 24%. 75% od ukupnog broja velikih kompanija na tržištu BiH posluje sa našom bankom.

U segmentu kompanija srednje veličine 61% od ukupnog broja klijenata posluje sa nama, od čega

34% klijenata koristi naše kreditne proizvode.

Portfolio izdatih instrumenata finansiranja trgovine iznosi KM 190 miliona i u odnosu na kraj prethodne

godine veći je za 43%. Depoziti pravnih lica porasli su za 6%.

U toku 2005. godine pružena je i finansijska podrška u realizaciji nekoliko značajnijih projekata naših

klijenata o oblasti:

• Preuzimanja i dodatnih investicionih ulaganja u procesu privatizacije kompanija u zemlji i

inostranstvu;

• Izgradnje i rekonstrukcije saobraćajne infrastrukture i pružanja usluga mobilne telefonije;

• Trgovine i proizvodnje čelika;

• Izvođenja građevinskih projekata u inostranstvu;

• Izgradnje i proširenja proizvodnih kapaciteta u prehrambenoj industriji;

• Širenja mreže trgovačkih centara.

U toku 2005. godine uspješno je implementiran i promoviran novi proizvod “Overdraft”, a projekat

uvođenja proizvoda “Otvorena štednja” u završnoj je fazi. Kao odgovor na potrebe naših izvoznih

kompanija izvršene su i pripremne aktivnosti na uvođenju “Forfaiting” – a.

U cilju optimizacije poslovnih procesa, prilagođavanja ponude i usluga specifičnom segmentu klijenata

i specifičnostima lokalnih tržišta, u toku 2005. godine izvršene su i sve pripremne aktivnosti za

reorganizaciju Sektora za poslove sa pravnim licima. Ključni izazov u poslovanju je efikasnije i brže

administriranje najraznovrsnijih zahtjeva klijenata, upotreba novih modernih informatičkih sistema i

razvoj novih prozivoda.


Corporate Banking Division

Corporate Banking Division

In 2005, Corporate Division achieved all planned business goals. During 2005, 493 new customers

were acquired, on basis of which total number of corporate customers increased by 24%. 75% of

total number of large companies in BH market operate with our Bank. In segment of medium size

enterprises, 61% of total number of customers operate with us, of which 34% of customers utilise our

loan products.

Portfolio of issued trade finance instruments amounts to KM 190 milion and in comparison to the end

of the previous year it is higher by 43%. Deposits of corporate entities increased by 6%.

During 2005, financing was provided in realisation of several significant projects of our customers in

the following areas:

• Taking over additional capital investments in privatisation process of companies in the country

and abroad;

• Construction and reconstruction of traffic infrastructure and providing services of mobile telephony;

• Trade and production of steel;

• Performance of construction projects abroad;

• Construction and expansion of production capacities in food industry;

• Expanding network of shopping centres.

During 2005, new product ‘’Overdraft’’ was successfully implemented and promoted, and project of

introducing the product ‘’Open Savings’’ is in its closing phase. As an answers to the needs of our

export companies, there were also some preparation activities on introduction of “Forfeiting’’.

In the course of 2005, with purpose of optimising business processes, adjustment of offers and services

to specific segment of customers and specifics of local markets, all preparation activities were

made for reorganisation of Corporate Division. Key challenge in business operations is more efficient

and faster administration processing of various customers’ applications, utilisation of new sophisticated

IT systems and development of new products.

www.raiffeisenbank.ba

31


Sektor za poslovanje sa stanovništvom

Sektor za poslovanje

32 www.raiffeisenbank.ba

sa stanovništvom

Štednja stanovništva

U odnosu na prethodnu godinu ukupni depoziti stanovništva su porasli za 21,79%, te je planska

kategorija za 2005. godinu ispunjena sa 115%.

Dugoročna štednja je na kraju godine dostigla učešće od 42% u ukupnim depozitima stanovništva,

što predstavlja značajno povećanje učešća u odnosu na 2004. godinu kad je isto iznosilo 32%.

Novi proizvod “Slobodna štednja”, uveden krajem 2004. godine, daje pune efekte u 2005. godini.

Zahvaljujući fleksibilnosti (višekratne uplate i isplate po jednom ugovoru o oročenom depozitu), na

kraju poslovne godine stanje “Slobodne štednje” je bilo KM 41,723.315,00, što je značajno uticalo

na poboljšanje ročne strukture oročene štednje.

Najbolja ilustracija ostvarenih rezultata u 2005. godini je podatak da Banka učestvuje sa 27,4% u

ukupnoj štednji stanovništva deponovanoj u komercijalnim bankama u BiH.

Neutralni poslovi

Na oko 200 lokacija kod sva tri poštanska preduzeća u Bosni i Hercegovini obavljaju se mjenjački

poslovi u ime Banke, pored postojeće mreže Raiffeisen banke.

U sistemu brzog slanja novca putem sistema Western Union-a, mreža je proširena za 33 nove

lokacije (5 se odnosi na Banku, a 28 na podzastupnike). Tako je sa krajem godine dostignut njihov

ukupan broj od 373.

Zahvaljujući širenju mreže, pojačanoj marketinškoj aktivnosti, automatizaciji lokacija, te poboljšanju

tehničkih uslova i kvaliteta usluge, i pored pojačanog marketinškog djelovanja konkurencije, u 2005.

godini je ostvareno 181.040 transfera (uključujući i podzastupnike), što predstavlja povećanje od

17,43% u odnosu na prethodni period, dok je plan za 2005. godinu ispunjen sa 112,30%.

U strukturi nekamatonosnih prihoda, u odnosu na 2004. godinu, najveći porast od 29,4% su ostvarili

prihodi od kartičnog poslovanja, te 22,6% prihodi od privatnih doznaka stanovništva.

Kanali distribucije i kvalitet usluga

Banka je u 2005. godini nastavila širenje svoje poslovne mreže otvaranjem šest novih organizacionih

jedinica, te je sa ukupnim brojem od 67 organizacionih jedinica i u ovom segmentu zadržala

jednu od značajnijih pozicija na tržištu. Angažovani su alternativni kanali distribucije (javni poštanski

operateri i hoteli). Navedeno nas, uz postojeću mrežu POS i ATM uređaja, svrstava među vodeće

banke kada je riječ o kanalima distribucije.

Efekat pomenutih aktivnosti se pokazao kroz akviziciju 94.669 novih klijenata u 2005. godini u

poslovima sa stanovništvom, čime je dostignut njihov kumulativ od 519.025, te je planska kategorija

sa krajem godine ostvarena sa 104%.


Retail Division

Retail Savings

Compared to previous year, total retail deposits increased by 21,79%, and budgeted category for

2005 was fulfilled with 115% accordingly.

Long-term savings at the end of the year reached the share of 42% of overall retail deposits, which

represents significant increase of share compared to 2004 when the same was 32%.

By the end of 2004, new product called “Free Savings” was introduced, and it gave full effects in the

reporting year. Thanks to its flexibility (opportunity of making numerous payments and withdrawals

on one agreement on term deposit), at the end of the business year the balance of “Free Savings”

amounted to KM 41,723.315,00, which significantly influenced the improvement of the maturity

structure of term savings deposits.

The best illustration of achieved results in 2005 is data that the Bank participates with 27,4% in total

retail savings deposited in commercial banks in BiH.

Fee Income

On approximately 200 locations with all three post-office companies in Bosnia and Herzegovina,

exchange business is performed on behalf of the Bank, in addition to existing network of Raiffeisen

banka.

In the system of fast money transfer via Western Union, the network was extended by 33 new locations

(5 relate to the Bank, and 28 to sub-agents), therefore as of the end of the year, total number

of 373 was reached.

Thanks to network extension, strengthened marketing activities, automating of locations, and

improvement of technical conditions and service quality, despite increased marketing activities

of competition, 181.040 transfers were executed in 2005 (including sub-agents), which represents

17,43% increase compared to previous period, while the budget for 2005 is fulfilled with

112,30%.

In the structure of fee income, compared to 2004, the largest increase of 29,4% was generated from

cards business, and 22,6% from transfers of private individuals.

Distribution channels and service quality

In 2005, the Bank continued with extension of its business network with opening 6 new organisational

units, therefore with total number of 67 organisational units it retained one of significant

market positions in this segment. Alternative distribution channels were engaged (public PTT operators

and hotels). With existing network of ATM and POS machines, the above puts us among leading

banks when talking about distribution channels.

Effect of above-mentioned activities reflected in acquisition of 94.669 new customers in 2005 in

retail lending, through which their cumulative of 519.025 was reached, and budgeted category was

fulfilled by the end of the year with 104%.

www.raiffeisenbank.ba

Retail Division

33


34 www.raiffeisenbank.ba

Kartični poslovi

Ostvaren je rast u izdavanju kartica od 25,52% u odnosu na 2004. godinu, pri čemu su kreditni

kartični proizvodi, uključujući i charge kartice, rasli po stopi od 13,83% , a debitni po stopi od

28,90%.

Mreža prihvata kartica proširena je sa novih 516 POS terminala i 24 ATM-a, tako da je godina

završena sa 1960 POS terminala i 63 ATM-a.

Promet po osnovu plaćanja roba i usluga putem POS terminala zabilježio je stopu rasta od 39,34%,

dok je promet po osnovu podizanja gotovine veći za 32,66%, pri čemu je promet na ATM-ovima

porastao za 52,96%, a na POS terminalima za 23,72%.

Visoki rast broja i vrijednosti transakcija u prihvatnoj mreži Banke u 2005. godini rezultat je

ne samo proširenja mreže nego i rasta broja izdatih kartica u BiH i jačanja navika klijenata za

korištenje kartica.

Potvrda uspješnosti Banke kao Agenta za nacionalno poravnanje transakcija Visa Internacional

karticama nastalim u BiH je i produženje ugovora za naredni trogodišnji period sa kartičnom organizacijom

i bankama članicama.

Cijela godina bila je u znaku pripremnih aktivnosti za migraciju na novi kartični software, koji treba

da obezbijedi adekvatnu informatičku podršku kao preduslov za naš odgovor na sve veće tržišne

izazove u ovom segmentu poslovanja.


Cards Business

Growth in issuing cards of 25,52% was achieved compared to 2004, where credit card product,

including charge cards, increased at the rate of 13,83%, and debit cards at the rate of 28,90%.

Card acquiring network was extended with 516 new POS terminals and 24 ATMs, therefore this year

was concluded with 1960 POS terminals and 63 ATMs.

Turnover relative to payments of goods and services via POS terminals saw growth rate of 39,34%,

while turnover relative to cash withdrawals increased by 32,66%, thereof turnover on ATMs

increased by 52,96%, and on POS terminals by 23,72%.

Sharp rise in number and value of transactions in acquiring network of the Bank in 2005 is result of

not only extension of the network, but also increase in number of issued cards in B&H and strengthening

habit of customers to use cards.

Confirmation of successfulness of the Bank as the National Net Settlement Agent of Visa International

for cards issued in B&H is also extension of agreement for the additional three-year period

with card organisations and member banks.

The whole year was marked by preparations for migration to new cards software which should

provide adequate IT support as the precondition for our responding to growing market challenges

in this business segment.

www.raiffeisenbank.ba

35


Sektor za poslovanje sa stanovništvom

SME segment

SME tržište

Tržište BiH je pretežno SME tržište, pa tako i najveći broj pravnih lica klijenata Banke predstavljaju SME klijente. Prema

podacima USAID-a iz 2004. godine, na području BiH registrirano je cca 60.000 SME klijenata. Entitetske poreske

uprave procjenjuju da je ovaj broj mnogo veći i da postoji preko 100.000 SME klijenata. Prema istom izvoru, najzastupljenija

je kategorija mikro preduzeća sa ukupno 10 zaposlenih (91% od ukupnog broja SME preduzeća).

Banka u funkciji SME

Raiffeisen banka je prepoznala važnost i perspektivu SME tržišta u zemlji i krajem 2004. godine sprovela reorganizaciju

da bi se mogla približiti malom i srednjem klijentu i ponuditi mu uslugu primjerenu njegovim specifičnim

potrebama, korištenjem poslovne mreže Banke.

Prema Odluci Nadzornog odbora Banke o izmjeni postojeće organizacije i sistematizacije poslova Banke, 1. januara

2005. uspostavljen je SME Segment kao novi organizacioni dio u sklopu Sektora poslovanja sa stanovništvom.

SME klijenti su segmentirani na Micro i Small klijente, a prema ostvarenom godisnjem ukupnom prihodu.

Novi proizvodi i edukacija

• U 2005, lansirana su dva paketa SME proizvoda (Raiffeisen Espresso i Produženi Espresso).

• Kontinuirana edukacija front funkcije, koja se u 2005. obučavala za prodaju standardiziranih proizvoda, što je

jedan od osnovnih postulata SME prodaje.

Prodaja

Raiffeisen espresso lansiran u martu: do 31.12.2005: prodana 202 paketa u iznosu

KM 6,7 mio

• Produženi Espresso lansiran u oktobru: do 31.12.2005, prodana 103 paketa u iznosu

KM 7 mio; od čega je u decembru 2005 prodato 70 paketa u iznosu KM 4,6 mio.

Brza usluga kroz optimiziran SME proces

• Approval Process System je takođe projekat SME u 2005. APS podržava elektronski proces odlučivanja za sve

involvirane funkcije od podnošenja kreditnog zahtjeva do trenutka donošenja Odluke, a radi na principu Internet

platforme. Ovo je prva aplikacija u RI mreži koja je povezana sa Core sistemom.

Ključni pokazatelji

• Ukupan broj SME klijenata na dan 31.12.2005. iznosi cca 17.000

• U srednjoročnom planu do 2008. godine, Raiffeisen banka je predvidjela značajan porast SME portfelja. U 2005.

godini, ostvareno je planirano povećanje SME kreditnog portfelja za cca 30% u odnosu na prethodnu godinu

• Sa 31.12.2005. SME Segment je postigao budžetom postavljene ciljeve i premašio prosječnu aktivu za 7%

• Gross Income: 18% preko budžeta; Commission result: 36% preko budžeta

36 www.raiffeisenbank.ba


SME segment

SME market

BiH market is mostly an SME market, so that the largest number of corporate customers of the Bank are SME customers.

Based on information of USAID for 2004, there are ca 60.000 of registered SME customers in the area of

BiH. Entity-level tax authorities estimated that this number was much higher and that there were over 100.000 SME

customers. According to the same source of information, the most dominant category are micro enterprises with total

of 10 employees (91% of total number of SME companies).

Bank in function of SME

Raiffeisen Bank has recognised the importance and perspectives of SME market in the country and at the end of 2004

performed reorganisation in order to get closer to small and middle market customers and offer them a kind of service

that is corresponding to their specific needs by using Bank’s business network.

Based on the Decision of the Supervisory Board of the Bank on Changes to the Existing Organisation and Job Classification

of the Bank, an SME segment was established on 1st of January 2005 as new organisational part within

the Retail Division.

SME customers are segmented to Micro and Small customers based on their generated total annual income.

New products and training

• Two packages of SME products were launched in 2005 (Raiffeisen Espresso and Long Espresso).

• Continuous training of Front function which, in 2005, encompassed training related to sale of standardised products

as one of the main foundations of SME sale.

Sale

Raiffeisen espresso was launched in March: 202 packages were sold until 31.12.2005 in amount of

KM 6,7 mio

• Long Espresso was launched in October: 103 packages were sold until 31.12.2005 in amount of

KM 7 mio; out of which 70 packages were sold in December 2005 in amount of KM 4,6 mio.

Prompt service through an optimised SME process

• Approval Process System was also an SME project for 2005. APS supports the electronic decision-making process

relative to all involved functions starting from submission of loan application to the moment of issuing a Decision

and it functions on basis of an Internet platform principle. This is the first application in RI Network that is connected

with the Core system.

Key indicators

• Total number of SME customers as of 31.12.2005 is ca 17.000

• In the mid-term plan until 2008, Raiffeisen Bank projected significant growth of SME portfolio. In 2005, budgeted

increase of SME loan portfolio was achieved by ca 30% compared to the previous year

• As of 31.12.2005, SME Segment achieved budgeted goals and exceeded average assets by 7%

• Gross Income: 18% over the budget; Commission result: 36% over the budget

www.raiffeisenbank.ba

Retail Division

37


Sektor sredstava i finansijskih tržišta

Sektor sredstava

i finansijskih tržišta

38 www.raiffeisenbank.ba

U cilju prilagođavanja politike razvoja proizvoda Banke u protekloj godini je uvedena funkcija

makroekonomskih i finansijskih istraživanja, što će u budućnosti omogućiti pružanje bitnih

informacija odgovarajućim funkcijama Banke.

Primarni ciljevi Sektora sredstava i finansijskih tržišta u 2005. bili su orjentirani na:

• povećanje prihoda iz poslova kupo-prodaje deviza i efektivnog stranog novca, gdje je realizovan

prihod za 13 % veći od prihoda iz prethodne godine;

• povećanje obima depozitarskih poslova, gdje je realizovan prihod veći za 45 % od prihoda iz

prethodne godine;

• smanjenje troškova korespondentne i kontokorentne mreže Banke, gdje su izmjenom metoda

procesiranja platnih naloga, troškovi smanjeni za 43% u odnosu na prethodnu godinu;

• nastavak odlične saradnje sa supranacionalnim finansijskim institucijama, s ciljem obezbjeđenja

dugoročnih izvora finansiranja. U ovoj godini zaključeno je novih EUR 259 mio što je bilo

dostatno za potrebe dugoročnog finansiranja klijenata Banke za 2005. godinu, kao i za planirane

aktivnosti u prvoj polovici 2006. godine.

Pored navedenih aktivnosti, zadaci poput: održavanja visoke likvidnosti Banke (tokom čitave godine

preko 40%), ispunjenja obavezne rezerve uz najefikasnije disponiranje novčanim sredstvima na

računu kod CBBiH i u inostranstvu, adekvatno upravljanje ročnom usklađenošću aktive i pasive u

uvjetima rigidnih zakonskih ograničenja, bile su permanentne aktivnosti vođene iz Sektora sredstava

i finansijskih tržišta.

Krajem 2005. započet je projekt Skrbništvo nad vrijednosnim papirima s namjerom organizacionog,

proceduralnog i programskog okončanja u prvoj polovici naredne godine. Organizaciono

ovi poslovi se planiraju voditi unutar Odjeljenja za investiciono bankarstvo čime bi sa poslovima

brokerske kuće Raiffeisen Brokers d.o.o. zaokružili proces trgovine vrijednosnim papirima za račun

klijenata.

U pogledu edukacije, tokom ove godine, posebna pažnja je posvećena usavršavanju mladih i

perspektivnih kadrova, čime je postignut visok nivo profesionalnosti i samostalnosti u obavljanju

specijalističkih zadataka. Posebno ističemo zvanja investicionog savjetnika i brokera za dva uposlenika

ovog Sektora, čime su stvorene pretpostavke za proširenje dijapazona proizvoda planiranih

u narednoj godini.


Treasury and Financial

Market Division

With purpose of adjusting product development policy of the Bank, in the previous year, function of

macroeconomic and financial researches was introduced, which in future would enable providing of

important information to appropriate functions of the Bank.

Primary aims of Treasury and Financial Markets Division in 2005 are oriented to:

Treasury and Financial Market Division

• Increase of income based on operations of sales/purchase of foreign currencies and foreign cash,

where generated income is by 13% higher than income from the previous year;

• Increase of volume of depositary operations, where generated income is higher by 45% than

income from the previous year;

• Decrease of costs of correspondent and current accounts’ network of the Bank, where on basis of

change of method of payment orders processing, costs have decreased by 43% in comparison to

the previous year;

• Continuation of excellent cooperation with supranational financial institutions, with purpose of

securing long term sources of financing. In this year, amount of additional EUR 259 mio was

concluded which was sufficient for the needs of long term financing of customers of the Bank for

year 2005, as well as for planned activities in the first half of year 2006.

Apart from mentioned activities, tasks such as: maintaining high liquidity of the Bank (over 40% during

the whole year), fulfilment of legal reserves with the most efficient disposal of cash funds on the

account with CBBiH and abroad, adequate management of maturity matching of assets and liabilities

under conditions of rigid legal limitations, were permanent activities operated from Treasury and

Financial Markets Division.

At the end of 2005, project named Custody over Securities has started with purpose of organisational,

procedural and programme finalisation in the first half of the following year. Organisationally,

all operations are planned to be run within the Investment Banking Department which would, along

with operations of brokerage house Raiffeisen Brokers d.o.o., finalise process of securities trading for

customers’ account.

In terms of training, during this year, special attention was dedicated to training of young and perspective

employees, on basis of which high level of professionalism and independence is achieved

in performance of special assignments. We especially point out positions of investment advisor and

broker for two employees of this Division, which created preconditions for expansion of product range

planned in the next year.

www.raiffeisenbank.ba

39


Sektor za finansije i računovodstvo

Sektor za finansije

i računovodstvo

40 www.raiffeisenbank.ba

Poslovi koji se u Sektoru obavljaju uključuju: vođenje računa - nivo glavne knjige, njihovo

funkcionalno povezivanje i usklađivanje, troškovno knjigovodstvo i plaćanje obaveza, knjigovodstveno

izvještavanje svih nivoa korisnika, sve poslove finansijske operative, te interne odnose

Centrala- filijale.

Sektor je podijeljen na tri odjeljenja:

- Odjeljenje za računovodstvo i finansijsko izvještavanje,

- Odjeljenje za finansijsku operativu,

- Odjeljenje za odnose sa filijalama.

Odjeljenje za računovodstvo i finansijsko izvještavanje

U ovom odjeljenju se usklađuju analitička konta sa stanjem sintetike, prate dozvoljena stanja

svakog računa, zatim se ukazuje na eventualne nelogičnosti stanja i insistira kod nadležnih službi na

njihovom otklanjanju. Sastavljaju se računovodstveni izvještaji za potrebe regulacionih organizacija,

državnih organa, vlasnika, kao i za interne potrebe.

Za navedene korisnike, u 2005. godini sačinjeno je 900 izvještaja.

Odjeljenje za finansijsku operativu

Poslovi ovog odjeljenja su troškovno knjigovodstvo i vođenje materijalne imovine. Knjiže se i

izmiruju obaveze po raznim osnovama.

Broj likvidiranih faktura i provedenih internih naloga u 2005. godini je 85.400.

Odjeljenje za odnose sa filijalama

Filijale obavljaju poslove za klijente svog područja na osnovu ovlaštenja datih od strane Centrale.

U odjeljenju se uspostavlja funkcionalna veza Centrala – Filijala - Centrala preko računa internih

odnosa. Evidentiraju se poslovni događaji i vrši njihovo eliminisanje za potrebe bilansnih pozicija

Banke u konačnom obračunu. U odjeljenju je u 2005. godini proknjiženo 70.200 promjena.


Finance and Accounting

Division

Operations being performed in the Division include: account maintenance – general ledger level,

their functional linking and harmonisation, cost accounting and payment of liabilities, accounting

for all levels of users, all tasks of the financial operations, as well as internal relations between the

Head Office - branch.

Division is divided into three departments:

- Accounting and Financial Reporting Department,

- Financial Operations Department,

- Branch Relationship Department.

Accounting and Financial Reporting Department

This department performs harmonisation of sub-ledger accounts with the general ledger balance,

monitoring of allowed balances on each account, then indicates to possible illogic balances and

insists with competent departments on their elimination. Preparation of accounting statements is

done for the needs of regulatory bodies, state bodies, owners, as well as for internal needs.

As for the mentioned users, 900 reports was prepared during 2005.

Financial Operations Department

Tasks of this department are cost accounting and maintenance of tangible assets. They book and

settle liabilities on different basis.

Number of settled invoices and executed internal orders in 2005 is 85.400.

Branch Relationship Department

Finance and Accounting Division

Branches perform operations for customers in their regions based on authorisations given by the

Head Office. Department established functional relationship Head Office – Branch – Head Office

through account of internal relations. Business changes are recorded and eliminated for the needs

of balance sheet positions of the Bank in the year-end report. In 2005, Department booked 70.200

changes.

www.raiffeisenbank.ba

41


Sektor podrške i platnog prometa

Sektor podrške

i platnog prometa

42 www.raiffeisenbank.ba

U izrazito dinamičnoj godini za Sektor podrške i platnog prometa primarne aktivnosti bile su:

procesiranje transakcija po svim poslovima koje sektor pokriva, a koje su u konstantnom porastu,

koordiniranje dijela operacijskih poslova koji se obavljaju u sve kompleksnijoj mreži Raiffeisen

banke, te implementacija novih proizvoda u produkcijski sistem.

Pored toga zabilježen je intenzivan angažman zaposlenika Sektora u mnogobrojnim projektima,

kako na nivou banke, tako i u okviru pojedinih poslovnih funkcija.

Samo neki od ovih projekata su:

- Mapiranje ključnih procesa,

- Predimplementacijska analiza za eventualni budući software,

- BPMS (upravljanje poslovnim procesima),

- SIX SIGMA za međunarodna plaćanja.

Međunarodni platni promet

Odjeljenje međunarodnog platnog prometa je u 2005. godini isprocesiralo 312.695 standardnih

međunarodnih plaćanja, što predstavlja 15% prosječnog povećanja u odnosu na prethodnu godinu.

Najveći porast od čak 34% zabilježen je na doznakama iz inostranstva u korist fizičkih lica.

U domenu servisiranja nerezidentnih i specijalni računa broj platnih transakcija od 658.115 u

odnosu na prethodnu godinu predstavlja povećanje od 39%.

Kao značajno dostignuće u ovom dijelu posla je i dalje poboljšanje STP stope kod inoplaćanja, što

je u ovoj poslovnoj godini potvrđeno priznanjem dodijeljenim od Deutsche Bank Frankfurt (Three

Year STP Excelence Award). Ovo oficijelno priznanje za kvalitet platnih naloga dostavljenih od

strane naše banke, dodijelila je jedna od najznačajnijih korespondentskih banaka Raiffeisen BANK

d.d. BiH za područje Evrope.

Grupa instrumenata za finansiranje trgovine izdala je 5.106 garancija, 656 uvoznih i 76 izvoznih

dokumentarnih akreditiva, što predstavlja povećanje od 18% na garancijama, odnosno 35% na

akreditivima, u odnosu na prethodnu godinu. Iz godine u godinu, povećanjem privrednih aktivnosti

u Bosni i Hercegovini, poslovi koji pokrivaju međunarodnu robnu razmjenu postaju složeniji i

kompleksniji sa stanovišta finansijskih usluga, te je pred ovom grupom zadatak stalnog praćenja

svjetskih trendova i profesionalnog usavršavanja.

Najdrastičniji porast broja transakcija ipak se desio u Back Office Tržišta novca gdje po svim segmentima

MM I FX transakcije udvostručene (procenat povećanja od 75% do 140%) u odnosu na 2004 godinu.

Paralelno, tokom cijele godine, provođene su aktivnosti da se, pažljivim odabirom pojedinih servisa

korespodentskih inobanaka, troškovi servisiranja računa u inostranstvu smanje, te u što većem

procentu pokriju prihodima iz ostvarenog rabata po osnovu međunarodnih plaćanja, te transakcija

kod plaćanja garancija/LC.

Ovo je bila vrlo uspješna akcija, jer su troškovi inoračuna u drugom polugodištu 2005. godine

manji za 17% u odnosu na prvo polugodište, a ukupno ostvareni rabat je KM 114.295,17 (EUR

58.438,19), te pokriva gotovo 60% godišnjih troškova servisiranja inoračuna KM 195,110,94

(EUR 99,758).


Central Processing Division

In an extremely dynamic year for Central Processing Division, primary activities were the following:

processing transactions under all operations which the Division covers, and which are in constant

growth, coordination of part of operating activites which are performed in Raiffeisen bank network

which becomes more complex, as well as implementation of new products in production system.

Besides that, intensive engagement of employees of Division was recorded in numerous projects,

both at level of the bank and within individual business functions.

Some of these projects are:

- Mapping the key processes,

- Pre-implementation review for possible future software,

- BPMS (business process management system),

- SIX SIGMA for international payments.

International Payments

Central Processing Division

International Payments Department in year 2005 processed 312,695 of standard international payments,

which is 15% of average increase in comparison to the previous year. The highest increase

of even 34% was recorded on remittances from abroad in favour of PIs.

Within the scope of servicing of non-resident and special accounts, number of payment transaction

of 658,115 in comparison to the previous year presents increase of 39%.

As a significant achievement in this part of operations, there is further continuation of improvement

of STP rate with international payments, which was in this business year confirmed by award of

Deutsche Bank Frankfurt (Three Year STP Excellence Award). This official award for quality of payment

orders delivered by our bank was provided by one of the most significant correspondent banks

of Raiffeisen BANK d.d. BiH for the region of Europe.

Group for trade finance instruments issued 5,106 guarantees, 656 import and 76 export documentary

letters of credit, which was increase by 18% of guarantees, i.e. 35% of letters of credit, in

comparison to the previous year. From year to year, by increasing the business activities in Bosnia

and Herzegovina, operations which cover international exchange of goods become more complex

from point of view of financial services, and this group has task to perform constant monitoring of

all world trends as well as the task of professional development.

Still, the most drastic increase of number of transactions occurred in Back Office Money Market

where under all segments MM and FX transactions doubled (percentage of increase from 75% to

140%) compared to the year 2004.

At the same time, during the whole year, activities were performed, by careful selection of individual

services of correspondent foreign banks to reduce costs of account servicing abroad, and to cover

them with income from realised discount on international payments in as high percentage as possible,

as well as transactions related to payments of guarantees/LCs.

This was very successful action since the costs of nostro accounts in the second half of 2005 are by

17% lower in comparison to the first half of the year, and total realised discount is KM 114.295,17

(EUR 58.438,19), and it covers almost 60% of annual costs of servicing nostro accounts KM

195.110,94 (EUR 99.758).

www.raiffeisenbank.ba

43


Sektor podrške i platnog prometa

44 www.raiffeisenbank.ba

Unutarnji platni promet

U toku 2005. godine kroz sistem Unutrašnjeg platnog prometa Raiffeisen banke isprocesirano je

4.158.694 dolaznih transakcija, 2.409.205 odlaznih, te 1.985.416 transakcija unutar mreže

Raiffeisen banke BiH, što predstavlja ukupno 8.553.315 transakcija.

Sam broj transakcija, sa veoma niskim procentom bilo kakvih reklamacija, ilustruje efikasnost

odjeljenja UPP u Centrali koje nadzire protok transakcija, finansijsku ispravnost, usklađenost sa

zakonskom regulativom, te kvalitet tehnoloških rješenja za pojedine poslove unutar ovog segmenta.

Ovu godinu su u UPP-u obilježile aktivnosti na veoma uspješnoj implementaciji novog prozvoda

overdraft/prekoračenje po transakcijskom računu pravnog lica.

Ovaj visokosofisticirani i visokoautomatizovani proizvod će stvarne efekte i operativne prednosti,

u odnosu na druge oblike kratkoročnog kreditiranja tekuće likvidnosti kompanija, tek pokazati u

narednom periodu i sigurno će ga većina klijenata sa zadovoljstvom prihvatiti.

Raiffeisen banka je u 2005. godini izabrana za jednu od banaka kod koje je novouspostavljena

Uprava za indirektno oporezivanje (UIO) otvorila račune za prikupljanje

prihoda od indirektnih poreza. Veoma značajan korak u reformi poreskog sistema

zemlje, kao i priprema za uvođenje poreza na dodatnu vrijednost (PDV) bio je veliki izazov

za sve učesnike - kako za samu UIO, tako i za poreske obveznike i poslovne banke.

Zahvaljujući izvanrednom angažmanu rukovodstva Odjeljenja unutrašnjeg platnog prometa, u

našoj banci svi su elementi ovog projekta pravovremeno i uspješno implementirani.Treba istaći

proaktivnu ulogu Raiffeisen banke u svim fazama implementacije. Naime implementacioni tim UIO

i CAFAO-a često se konsultovao upravo sa rukovodstvom našeg Unutarnjeg platnog prometa, jer

su prepoznali visokoprofesionalan i konstruktivan pristup naših radnika.

Raiffeisen BANK dd BiH je 2005. godinu završila kao banka preko koje je prikupljeno najviše

poreza iz ovog osnova, te u skladu s tim ostvarila najveću proviziju za ovu uslugu.

Kraj godine je je takođe protekao u pripremi infrastrukture za servise koji će pratiti uvođenje PDVa,

planirano za januar 2006.

Administracija kredita i depozita pravnih lica

U Odjeljenju za administriranje kredita i depozita pravnih lica, te pod njihovim nadzorom, u toku 2005.

godine administrirano je 3.681 kratkoročnih, te 3.592 dugoročnih kredita odobrenih pravnim licima.

Oročenih depozita za pravna lica u mreži Raiffeisen banke u istom periodu bilo je 395.

U ovom odjeljenju se takođe administriraju (povlačenje sredstava, otplata, servisiranje troškova,

izvještavanje ) 74 aktivne kreditne linije koje Raiffeisen banka koristi kao dugoročne izvore.

Krajem 2005. godine počele su intenzivne aktivnosti na centralizaciji ove funkcije, tako da će ovo

odjeljenje preuzeti najveci dio kreditnog portfelja pravnih lica iz cijele mreže.


Domestic payments

During 2005, number of 4.158,694 of incoming transactions was processed through the System of

Domestic Payments of Raiffeisen Bank, 2.409,205 of outgoing, and 1.985.416 transactions within

the network of Raiffeisen bank BiH, which is total number of 8.553.315 transactions.

Very number of transactions with very low percentage of any complaints illustrates efficiency of

Domestic Payments Department in the HO which monitors flow of transactions, financial regularity,

harmonisation with legal regulations, as well as quality of technological solutions for individual

operations of this segment.

This year in Domestic Payments was characterised by very successful implementation of a new product

overdraft under transaction account of legal entity.

This highly sophisticated and highly automated product will show its actual effects and operating

advantages, in comparison to other forms of short term lending of current liquidity of companies in

the following period and it will certainly be very much accepted by most of the customers.

In 2005, Raiffeisen bank was selected as one of the banks with which newly established Indirect

Taxation Authority opened accounts for raising revenues based on indirect taxes. Very significant

step in reform of tax system of the country, as well as preparation for introduction of value added

tax was great challenge for all participants – both for the very Indirect Taxation Authority, and for

all taxpayers and commercial banks.

Owing to the extraordinary engagement of management of Domestic Payments Department, all

elements of this project were duly and successfully implemented in our Bank. Pro-active role of Raiffeisen

Bank should be pointed out in all phases of implementation. Namely, Implementation Team

of Indirect Taxation Authority and CAFAO commonly consulted with the management of our Domestic

Payments Department, since they recognised highly professional and constructive approach of

our employees.

Raiffeisen BANK dd BiH finished the year 2005 as the bank over which the highest amount of taxes

was collected on this basis, and in accordance with that it realised the highest fee for this service.

The end of the year also passed in preparation of infrastructure for services which will accompany

VAT introduction, planned for January 2006.

Corporate Loans and Deposit Administration

Central Processing Division

During 2005, in the Corporate Loans and Deposit Administration, and those under their supervision,

processed and approved 3.681 short term, and 3.592 long term loans to legal entities.

Number of term deposits of legal entities in the network of Raiffeisen Bank in that same period was

395.

This Department also processes (funds withdrawal, repayment, cost settlement, reporting) 74 active

credit lines which Raiffeisen bank utilises as long term sources of funds.

At the end of 2005, intensive activities on centralisation of this function started, so that this Department

will take over the biggest part of loan portfolio of legal entities in the whole network.

www.raiffeisenbank.ba

45


Bilans stanja

Bilans stanja

Na dan 31. decembar 2005. i 2004. godine

AKTIVA

46 www.raiffeisenbank.ba

2005.

( KM 000)

2005.

( 000 EUR)

2004.

( 000 KM )

2004.

( 000 EUR)

Novac i sredstva kod banaka 90,120 46,078 149,011 76,188

Obavezna rezerva kod Centralne

banke 338,183 172,910 182,955 93,543

Plasmani kod drugih banaka 652,329 333,531 582,900 298,032

Dati krediti i potraživanja 1,331,998 681,039 1,057,736 540,812

Kupljeni krediti koji se drže do

dospijeća 47 24 1,136 582

Kapitalna ulaganja 2,484 1,270 4,879 2,494

Ostala imovina 36,222 18,520 26,907 13,757

Nekretnine i oprema 42,090 21,520 34,471 17,625

UKUPNA AKTIVA 2,493,473 1,274,892 2,039,995 1,043,033

OBAVEZE

Obaveze prema drugim bankama 593,475 303,439 435,631 222,735

Obaveze prema klijentima 1,627,021 831,883 1,396,340 713,937

Rezervisanja 18,239 9,325 12,023 6,147

Ostale obaveze 23,294 11,910 20,198 10,327

Subordinirani dug 62,000 31,700 42,050 21,500

UKUPNE OBAVEZE 2,324,029 1,188,257 1,906,242 974,646

VLASNIČKA GLAVNICA

Dionički kapital 89,306 45,661 73,306 37,481

Rezerve i zadržana dobit 80,138 40,974 60,447 30,906

UKUPNA VLASNIČKA GLAVNICA 169,444 86,635 133,753 68,387

UKUPNO OBAVEZE I

VLASNIČKA GLAVNICA 2,493,473 1,274,892 2,039,995 1,043,033

PREUZETE I POTENCIJALNE

FINANSIJSKE OBAVEZE 525,044 268,451 374,932 191,699


Balance Sheet

As of 31. December 2005 and 2004

ASSETS

2005.

( KM 000)

2005.

( 000 EUR)

2004.

( 000 KM )

2004.

( 000 EUR)

Cash and amounts due from banks 90,120 46,078 149,011 76,188

Obligatory reserve with the

Central Bank 338,183 172,910 182,955 93,543

Placements with other banks 652,329 333,531 582,900 298,032

Loans and receivables 1,331,998 681,039 1,057,736 540,812

Purchased loans held to maturity 47 24 1,136 582

Equity investments 2,484 1,270 4,879 2,494

Other assets 36,222 18,520 26,907 13,757

Property and equipment 42,090 21,520 34,471 17,625

TOTAL ASSETS 2,493,473 1,274,892 2,039,995 1,043,033

LIABILITIES

Amounts due to banks 593,475 303,439 435,631 222,735

Amounts due to customers 1,627,021 831,883 1,396,340 713,937

Provisions 18,239 9,325 12,023 6,147

Other liabilities 23,294 11,910 20,198 10,327

Subordinated debt 62,000 31,700 42,050 21,500

TOTAL LIABILITIES 2,324,029 1,188,257 1,906,242 974,646

SHAREHOLDERS’ EQUITY

Share capital 89,306 45,661 73,306 37,481

Reserves and retained earnings 80,138 40,974 60,447 30,906

TOTAL SHAREHOLDER’S EQUITY 169,444 86,635 133,753 68,387

TOTAL LIABILITIES AND

SHAREHOLDERS’ EQUITY 2,493,473 1,274,892 2,039,995 1,043,033

FINANCIAL COMMITMENTS

AND CONTINGENCIES 525,044 268,451 374,932 191,699

www.raiffeisenbank.ba

Balance Sheet

47


Bilans uspjeha

Bilans uspjeha

Za godine koje su završile 31.decembra 2005 i 2004

48 www.raiffeisenbank.ba

2005.

(KM 000)

2005.

(EUR 000)

2004.

(KM 000)

2004.

(EUR 000)

Prihodi od kamata 135,665 69,364 106,504 54,455

Rashodi od kamata (51,608) (26,387) (38,162) (19,512)

Neto prihod od kamata 84,057 42,977 68,342 34,943

Prihodi od naknada i provizija 33,551 17,154 36,400 18,611

Rashodi od naknada i provizija (3,421) (1,749) (5,057) (2,586)

Neto prihod od naknada i provizija 30,130 15,405 31,343 16,025

Neto dobit iz finansijskog poslovanja 5,811 2,971 5,138 2,627

Neto prihod od prodaje ulaganja 3,938 2,012 - -

Ostali prihodi iz poslovanja 643 328 2,360 1,207

Prihod iz redovnog poslovanja 124,579 63,696 107,183 54,802

Administrativni troškovi (75,033) (38,364) (64,468) (32,962)

Amortizacija dugotrajne

materijalne imovine (3,946) (2,017) (3,592) (1,837)

Amortizacija dugotrajne

nematerijalne imovine (1,408) (720) (1,620) (828)

Rashodi iz redovnog poslovanja (80,387) (41,101) (69,680) (35,627)

DOBIT PRIJE REZERVISANJA

I POREZA NA DOBIT 44,192 22,595 37,503 19,175

Umanjenja vrijednosti i rezervisanja (25,890) (13,237) (22,502) (11,505)

Naplaćena otpisana potraživanja 5,927 3,030 6,145 3,142

DOBIT PRIJE POREZA NA DOBIT 24,229 12,388 21,146 10,812

Porez na dobit - - - -

DOBIT TEKUĆE GODINE 24,229 12,388 21,146 10,812


Statements of Income

For the years ended 31 December 2005 and 2004

2005.

(KM 000)

2005.

(EUR 000)

2004.

(KM 000)

Statements of Income

2004.

(EUR 000)

Interest income 135,665 69,364 106,504 54,455

Interest expense (51,608) (26,387) (38,162) (19,512)

Net interest income 84,057 42,977 68,342 34,943

Fee and commission income 33,551 17,154 36,400 18,611

Fee and commission expense (3,421) (1,749) (5,057) (2,586)

Net fee and commission income 30,130 15,405 31,343 16,025

Net trading income 5,811 2,971 5,138 2,627

Net income upon disposal of

investments 3,938 2,012 - -

Other operating income 643 328 2,360 1,207

Operating income 124,579 63,696 107,183 54,802

Administrative expenses (75,033) (38,364) (64,468) (32,962)

Depreciation of tangible

fixed assets (3,946) (2,017) (3,592) (1,837)

Amortisation of intangible

fixed assets (1,408) (720) (1,620) (828)

Operating Expense (80,387) (41,101) (69,680) (35,627)

PROFIT BEFORE IMPAIRMENT LOSSES,

PROVISIONS AND INCOME TAX 44,192 22,595 37,503 19,175

Impairment losses and provisions (25,890) (13,237) (22,502) (11,505)

Collected write-offs 5,927 3,030 6,145 3,142

PROFIT BEFORE INCOME TAX 24.229 12,388 21,146 10,812

Income tax - - - -

NET PROFIT FOR THE YEAR 24,229 12,388 21,146 10,812

www.raiffeisenbank.ba

49


Značajni finansijski pokazatelji

Značajni finansijski pokazatelji

Key Financial Highlights

Prikazani podaci navedeni su ili izračunati temeljem

revidiranih finansijskih izvještaja Banke.

Na kraju godine

At the year end

50 www.raiffeisenbank.ba

The figures shown below are extracted or recomputed

from the Bank’s audited financial statements.

2005

000 KM

2005

000 EUR

2004.

000 KM

2004.

000 EUR

Ukupno aktiva

Total assets 2,493,473 1,274,892 2,039,995 1,043,033

Dionički kapital i rezerve

Shareholders funds 169,444 86,635 133,753 68,387

Godišnji rezultati

Results for the year

Ukupan prihod

Total income 133,927 68,476 118,385 60,529

Dobit prije oporezivanja

Profit before taxation 24,229 12,388 21,146 10,812

Dobit poslije oporezivanja

Profit after taxation 24,229 12,388 21,146 10,812

Pokazatelji

Ratios % %

Povrat na aktivu

Return on Assets (ROA) 1,1 1,2

Povrat na kapital

Return on Equity (ROE) 17,3 21,5


Petogodišnja usporedba finansijskih pokazatelja

Financial highlights for the five years period

2005.

000 KM

2004.

000 KM

2003.

000 KM

2002.

000 KM

Key Financial Highlights

2001.

000 KM

Iz Bilansa stanja i računa

dobiti i gubitka

From the balance sheet and

profit and loss account

Ukupno aktiva

Total assets

Dionički kapital

2,493,473 2,039,995 1,388,063 930,492 744,278

Share capital

Dionički kapital i rezerve

89,306 73,306 49,306 37,622 25,100

Shareholders funds

Depoziti komitenata

169,444 133,753 91,656 59,212 34,683

Customer deposits

Krediti komitentima

1,627,021 1,396,340 1,016,093 796,528 634,628

Loans to customers

Ukupan prihod

1,331,998 1,057,736 803,350 510,178 273,296

Total income

Ukupni troškovi poslovanja

133,927 118,385 102,666 74,923 46,077

Total operating expenses

Dobit / (gubitak) prije oporezivanja

109,698 97,239 82,395 60,079 40,005

Profit / (loss) before taxation

Dobit / (gubitak) poslije oporezivanja

24,229 21,146 20,271 14,844 6,072

Profit / (loss) after taxation 24,229 21,146 20,271 14,844 6,072

www.raiffeisenbank.ba

51


Značajni finansijski pokazatelji

Iz Bilansa stanja i Računa

dobiti i gubitka

From the balance sheet and

profit and loss account

52 www.raiffeisenbank.ba

2005.

000 EUR

2004.

000 EUR

2003.

000 EUR

2002.

000 EUR

2001.

000 EUR

Ukupno aktiva

Total assets 1,274,892 1,043,033 709,703 475,751 380,542

Dionički kapital

Share capital

45,661 37,481 25,210 19,235 12,833

Dionički kapital i rezerve

Shareholders funds 86,635 68,387 46,863 30,274 17,733

Depoziti komitenata

Customer deposits 831,883 713,937 519,518 407,257 324,479

Krediti komitentima

Loans to customers 681,039 540,812 410,745 260,849 139,734

Ukupan prihod

Total income 68,476 60,529 52,492 38,308 23,558

Ukupni troškovi poslovanja

Total operating expenses 56,088 49,717 42,128 30,718 20,453

Dobit / (gubitak) prije

Oporezivanja

Profit / (loss) before taxation

12,388 10,812 10,364 7,590 3,105

Dobit / (gubitak) poslije

Oporezivanja

Profit / (loss) after taxation 12,388 10,812 10,364 7,590 3,105


Ukupna aktiva

Total assets

EUR 000

1,200,000

1,000,000

800,000

600,000

400,000

200,000

0

380,542

475,751

2005.

000 KM

2004.

000 KM

2003.

000 KM

2002.

000 KM

2001.

000 KM

Ukupno aktiva

Total assets 2,493,473 2,039,995 1,388,063 930,492 744,278

2005.

000 EUR

709,703

2004.

000 EUR

1,043,033

2003.

000 EUR

1,274,892

2001 2002 2003 2004 2005

2002.

000 EUR

Key Financial Highlights

2001.

000 EUR

Ukupno aktiva

Total assets 1,274,892 1,043,033 709,703 475,751 380,542

www.raiffeisenbank.ba

53


Značajni finansijski pokazatelji

Ukupan prihod

Total income

EUR 000

70,000

60,000

50,000

40,000

30,000

20,000

10,000

54 www.raiffeisenbank.ba

0

23,558

38,308

2005.

000 KM

2004.

000 KM

2003.

000 KM

2002.

000 KM

2001.

000 KM

Ukupan prihod

Total income 133,927 118,385 102,666 74,923 46,077

2005.

000 EUR

2004.

000 EUR

2003.

000 EUR

2002.

000 EUR

2001.

000 EUR

Ukupan prihod

Total income 68,476 60,529 52,492 38,308 23,558

52,492

60,529

68,476

2001 2002 2003 2004 2005


Operativni rezultati

Poslovanje Banke posljednih godina karakterizira konstantan

uspon poslovanja. U 2005.godini Banka

je ostvarila pozitivan finansijski rezultat u iznosu od

24.229.000,00 KM, što u odnosu na prethodnu godinu

predstavlja povećanje od 14,5 %.

Troškovi poslovanja u 2005. godini dosegli su iznos od

109.698.000,00 KM, što u poređenju sa prethodnom

godinom predstavlja povećanje od 12,8 % ( u 2004.

godini troškovi poslovanja su, u odnosu na 2003.,

povećani za 18 %) .

Ukupan prihod banke u 2005. godini iznosio je

133.927.000,00 KM, što u odnosu na prihod prethodne

godine predstavlja povećanje od 13 % ( u 2004.

godini ukupni prihod je povećan za 15 % ).

Najveći udio u strukturi ukupnih prihoda u 2005.

godini imaju neto prihodi od kamata 62 %, a najveće

povećanje u odnosu na 2004. godinu bilježe takođe

neto prihodi od kamata 23%.

Operating results

Key Financial Highlights

The characteristic of the Bank business in the last years

is continuous growth in banking operations. In 2005 the

Bank achieved positive financial result in the amount of

KM 24.229.000,00 which in comparison to the previous

year means increase by 14,5 %.

Operating costs in 2005 reached the amount of KM

109.698.000,00 which is in comparison to the previous

year, the increase of 12,8 % (in 2004 operating costs

increased by 18 % in comparison to 2003).

Total bank revenue in 2005 amounted KM

133.927.000,00 which is an increase of 13 % in comparison

to the previous year revenue (in 2004 total

revenue increased by 15 %).

The biggest share in the structure of total income in

2005 take net interest income 62 % and the biggest

increase in comparasion to 2004 have net interest

income 23%.

www.raiffeisenbank.ba

55


Značajni finansijski pokazatelji

Struktura ukupnih prihoda

Structure of total income

EUR 000

40,000

35,000

30,000

25,000

20,000

15,000

10,000

5,000

56 www.raiffeisenbank.ba

0

11,045

9,500

3,013

20,801

13,695

3,812

2001 2002 2003 2004 2005

2005

000 KM

2004.

000 KM

2003.

000 KM

2002.

000 KM

2001.

000 KM

Neto prihod od kamata

Net interest income

Prihod od provizija

84,057 68,342 63,147 40,683 21,603

Commission income

Ostali prihodi iz poslovanja

33,551 36,400 30,848 26,785 18,581

Other operating income 16,319 13,643 8,671 7,455 5,893

2005.

000 EUR

2004.

000 EUR

2003.

000 EUR

2002.

000 EUR

2001.

000 EUR

Neto prihod od kamata

Net interest income

Prihod od provizija

42,978 34,943 32,286 20,801 11,045

Commission income

Ostali prihodi iz poslovanja

17,154 18,611 15,772 13,695 9,500

Other operating income 8,344 6,975 4,434 3,812 3,013

32,286

15,772

4,434

34,943

18,611

6,975

42,978

17,154

8,344

Neto prihod od kamata

Net interest income

Prihod od provizija

Commission income

Ostali prihodi iz poslovanja

Other operating income


Usporedba troškova poslovanja i ukupnih prihoda

Comparasion of operating expenses and total income

EUR 000

70,000

60,000

50,000

40,000

30,000

20,000

10,000

0

23,558

20,453

38,308

30,718

2001 2002 2003 2004 2005

2005.

000 KM

2004.

000 KM

2003.

000 KM

2002.

000 KM

2001.

000 KM

Troškovi poslovanja

Operating expenses 109,698 97,239 82,395 60,079 40,005

Ukupan prihod

Total income 133,927 118,385 102,666 74,923 46,077

2005.

000 EUR

2004.

000 EUR

2003.

000 EUR

2002.

000 EUR

2001.

000 EUR

Troškovi poslovanja

Operating expenses 56,088 49,717 42,128 30,718 20,453

Ukupan prihod

Total income 68,476 60,529 52,492 38,308 23,558

52,492

42,128

60,529

49,717

68,476

56,088

Ukupan prihod

Total income

Troškovi poslovanja

Operating expenses

Key Financial Highlights

www.raiffeisenbank.ba

57


Značajni finansijski pokazatelji

Ukupna Aktiva

Total Assets

U toku 2005. godine ukupna aktiva Banke uvećana je

za 22 % u odnosu na prethodnu godinu.

Kao što se može primjetiti u donjem grafičkom prikazu,

krediti komitentima preovladavaju u strukturi aktive

Banke, sa udjelom od 53 % ukupne aktive.

Struktura ukupne aktive banke

Structure of total assets

58 www.raiffeisenbank.ba

Materijalna i nematerijalna imovina (2%)

Tangible and intangible fixed assets (2%)

Gotovina i računi kod banaka (4%)

Cash and due from banks (4%)

Plasmani drugim bankama (26%)

Placements with other banks (26%)

The total assets are increased by 22 % in 2005 in relation

to the previous year.

As it can be seen from chart below, loans to client are

predominant in the assets structure with 53 % out of

total assets.

Ostala aktiva (15%)

Other assets (15%)

Krediti, neto, umanjeni za rezervisanja za moguće gubitke po kreditima (53%)

Loans, net of provision for possible loan losses (53%)


Izvori finansiranja

Funds sources

U strukturi izvora finansiranja najvećim dijelom učestvuju

fizička lica 36 %, te je u odnosu na prošlu godinu

zabilježen rast depozita fizičkih lica od 22 %.

Ostalo (4%)

Other (4%) Kapital (7%)

Equity (7%)

Fizička lica (36%)

Retail (36%)

In the structure of sources of funds the biggest participants

are individuals 36 % and in comparison to the

previous year the growth of individual deposits of 22 %

is registered.

Pravna lica (29%)

Corporate (29%)

Druge ino banke (22%)

Other international banks (22%)

Lokalne banke (2%)

Domestic banks (2%)

Key Financial Highlights

www.raiffeisenbank.ba

59


Značajni finansijski pokazatelji

Kreditiranje

Credit financing

Kreditiranje preduzeća

Kreditni portfolio krajem 2005. godine iznosi KM 460

miliona i povećan je za 24% u odnosu na kraj prethodne

godine. Ročna struktura kreditnog portfolija promijenjena

je u odnosu na prethodnu godinu u korist dugoročnih

kredita, čije je učešće u ukupnom kreditnom portfoliju na

kraju 2005. godine iznosilo 56%.

Kreditiranje stanovništva

Značajan doprinos ostvarenju planskih kategorija je i

u 2005. godini imala specijalna ponuda za uposlenike

firmi od poslovnog značaja za Banku.

Ponuda kreditnih proizvoda je proširena kreditima za

farmere, studente, za kupovinu apartmana, a kod auto

kredita je lansiran kredit “Staro za novo”.

Pored navedenog, Banka je aktivnije nego u prethodnim

godinama uzela učešće na tenderima državnih

organa, što je imalo pozitivne efekte u vidu novih

kreditnih plasmana.

Kao ilustracija ostvarenog obima poslova kreditiranja

stanovništva može poslužiti podatak da je u 2005.

godini plasirano 67.736 kredita, što je za 25% više u

poređenju sa 2004. godinom.

U odnosu na 2004. godinu kreditni portfelj je zabilježio

rast od 25,44%, odnosno prosječna mjesečna stopa

rasta je iznosila 2,1%.

Kao rezultat navedenih aktivnosti u segmentu kreditiranja

stanovništva, kreditni portfelj Banke je dostigao

21,4% svih kredita datih fizičkim lica u komercijalnim

bankama u BiH.

60 www.raiffeisenbank.ba

Credits to companies

At the end of 2005, loan portfolio was KM 460 million

and the same was increased by 24% in comparison

to the end of the previous year. Maturity structure of

loan portfolio was changed in comparison to the previous

year in favour of long term loans, whose share

in total loan portfolio at the end of 2005 was 56%.

Retail lending

Significant contribution to fulfilment of budgeted categories

in reporting year has also been made through

special offer for employees of companies of business

importance for the Bank.

Offer of loan products was extended with loans for

farmers, students, purchase of condominiums, and with

car loans the “Trade-in” loan was introduced.

Besides the above, the Bank participated in invitation for

bids of state authorities more intensively than in previous

years, which had positive effects in form of new loan

facilities.

As an illustration of achieved volume of retail lending,

67.736 loans were granted during previous year, which

is 25% higher compared to 2004.

Compared to 2004, loan portfolio rose by 25,44%, i.e.

average monthly growth rate was 2,1%. As a result of

above-mentioned activities in retail lending segment,

loan portfolio of the Bank reached 21,4% of all loans

granted to private individuals in commercial banks in

B&H.


Krediti preduzećima

Loans to companies

Krediti stanovništvu

Loans to Individuals

Ukupno

Total

Rezerviranja za moguće

gubitke po kreditima

Provision for Possible

Loan Losses

Neto vrijednost kredita

Net Value of Loans

Bruto vrijednost kredita

Gross Value of Loans

2005

Bruto vrijednost kredita

Gross Value of Loans

2004

Key Financial Highlights

Promjena

Change

000 KM 000 EUR 000 KM 000 EUR %

640,704 327,587 504,691 258,044 27

755,064 386,058 603,893 308,765 25

1,395,768 713,645 1,108,584 566,810 26

63,770 32,605 50,848 25,998

1,331,998 681,040 1,057,736 540,812 26

www.raiffeisenbank.ba

61


Značajni finansijski pokazatelji

Obaveze i kapital

Liabilities and funds employed

Tuđa sredstva

Other sources of Funds

62 www.raiffeisenbank.ba

Obaveze po kreditima (24%)

Borrowings (24%)

Oročeni depoziti (34%)

Term deposits (34%)

Vlastiti izvori (7%)

Shareholders Equity (7%)

Ostale obaveze (6%)

Other liabilities (6%)

Depoziti po viđenju (36%)

Demand deposits (36%)

Tuđa sredstva (93%)

Other sources of funds (93%)


Depoziti komitenata

Customer deposits

EUR 000

400,000

350,000

300,000

250,000

200,000

150,000

100,000

50,000

0

205,991

201,266

2005.

000 KM

2005.

000 EUR

296,530

222,988

2004.

000 KM

2004.

000 EUR

376,342

337,595

2003.

000 KM

458,405

2002 2003 2004 2005

2003.

000 EUR

373,478

Depoziti stanovništva

Deposits from individuals

Depoziti preduzeća

Deposits from companies

2002.

000 KM

Key Financial Highlights

2002.

000 EUR

Depoziti preduzeća

Deposits from companies

Depoziti stanovništva

730,459 373,478 660,279 337,595 436,128 222,988 393,644 201,266

Deposits from individuals 896,562 458,405 736,061 376,342 579,965 296,530 402,884 205,991

www.raiffeisenbank.ba

63


Značajni finansijski pokazatelji

Depoziti preduzeća

Deposits from companies

EUR 000

250,000

200,000

150,000

100,000

50,000

64 www.raiffeisenbank.ba

0

162,477

38,789

2005.

000 KM

2005.

000 EUR

168,627

54,361

2004.

000 KM

2004.

000 EUR

196,003

141,592

2002 2003 2004 2005

2003.

000 KM

239,078

134,400

Depoziti po viđenju

Demand deposits

Oročeni depoziti

Term deposits

2003.

000 EUR

2002.

000 KM

2002.

000 EUR

Oročeni depoziti

Term deposits

Depoziti po viđenju

262,863 134,400 276,930 141,592 106,322 54,361 75,866 38,789

Demand deposits 467,596 239,078 383,349 196,003 329,806 168,627 317,778 162,477


Depoziti stanovništva

Deposits from individuals

EUR 000

250,000

200,000

150,000

100,000

50,000

0

114,508

91,483

265,538

192,866

2002 2003 2004 2005

2005.

000 KM

2005.

000 EUR

165,989

130,541

2004.

000 KM

2004.

000 EUR

207,161

169,181

2003.

000 KM

Oročeni depoziti

Term deposits

Depoziti po viđenju

Demand deposits

2003.

000 EUR

2002.

000 KM

Key Financial Highlights

2002.

000 EUR

Oročeni depoziti

Term deposits 519,348 265,538 405,171 207,161 324,648 165,989 223,959 114,508

Depoziti po viđenju

Demand deposits 377,214 192,866 330,890 169,181 255,317 130,541 178,925 91,483

www.raiffeisenbank.ba

65


66 www.raiffeisenbank.ba


www.raiffeisenbank.ba

67


68 www.raiffeisenbank.ba


www.raiffeisenbank.ba

69


Adresar

Centrala i filijale

Head Office and Branches

70 www.raiffeisenbank.ba

Centrala Sarajevo

Head Office

Danijela Ozme 3

Tel: + 387 33 28 71 00, 28 71 21

Fax: + 387 33 21 38 51

Raiffeisen direkt info: + 387 33 26 80 80

E –mail: info.rbbh@rbb-sarajevo.raiffeisen.at

Internet: www.raiffeisenbank.ba

Filijale

Branches

Sarajevo

Mehmeda Spahe 3

71 000 Sarajevo

Goražde

Titova bb

73 000 Goražde

Banja Luka

Vase Pelagića 10

78 000 Banja Luka

Prijedor

Vožda Karađorđa 14

79 101 Prijedor

Gradiška

Vidovdanska bb

78 400 Gradiška

Prnjavor

Trg Srpskih boraca bb

78 430 Prnjavor

Doboj

Nemanjina bb

74 000 Doboj

Tuzla

Turalibegova 22

75 000 Tuzla

Orašje

V Ulica 19a

76 270 Orašje

Bijeljina

Majevička 102

76 300 Bijeljina

Mostar

Kneza Domagoja bb

88 000 Mostar

Trebinje

Cara Dušana 1

89 101 Trebinje

Livno

Trg Kralja Tomislava bb

80 101 Livno

Široki Brijeg

Zaobilaznica bb

88 220 Široki Brijeg

Bihać

Bosanskih banova 11

77 000 Bihać

Cazin

Generala Izeta Nanića bb

77 220 Cazin

Sanski Most

Trg oslobodilaca 2

79 260 Sanski Most

Velika Kladuša

Izeta Nanića 1

77 230 Velika Kladuša

Bosanska Krupa

Trg oslobođenja bb

77 240 Bosanska Krupa

Zenica

Mehmedalije Tarabara 15

72 000 Zenica

Kakanj

Zgošćanska P+4+M

72 240 Kakanj

Vitez

Poslovni centar PC 96

72 250 Vitez

Žepče

Stjepana Tomaševića bb

72 230 Žepče

Visoko

Alije Izetbegovića 1

71 300 Visoko

Tešanj

Kralja Tvrtka bb

74 260 Tešanj

Brčko

Bulevar mira bb

76 100 Brčko


Adresar

Addresses and contacts

Raiffeisen International

Bank-Holding AG

Austria (Head Office)

Am Stadtpark 9, 1030 Wien

Phone: (+43-1) 71 707-3504

Fax: (+43-1) 71 707-1377

www.ri.co.at

Contact: Roman Hager

roman.hager@ri.co.at

Banking Network in Central

and Eastern Europe

Albania

Raiffeisen Bank Sh.a.

Rruga Kavajes, Tirana

Phone: (+355-4) 274 912

Fax: (+355-4) 230 013

SWIFT/BIC: SGSBALTX

www.raiffeisen.al

Contact: Steven Grunerud

steven.grunerud@raiffeisen.al

87 banking outlets

Belarus

Priorbank, JSC

31–A, V. Khoruzhey Str.

Minsk, 220002

Phone: (+375-17) 289 9087

Fax: (+375-17) 289 9191

SWIFT/BIC: PJCBBY2X

www.priorbank.by

Contact: Olga Gelakhova

olga.gelakhova@priorbank.by

43 banking outlets

Bosnia and Herzegovina

Raiffeisen Bank d.d.

Bosna i Hercegovina

Danijela Ozme 3, 71000 Sarajevo

Phone: (+387-33) 287 100

Fax: (+387-33) 213 851

SWIFT/BIC: RZBABA2S

www.raiffeisenbank.ba

Contact: Edin Muftić

edin.muftic@rbb-sarajevo.raiffeisen.at

68 banking outlets

Bulgaria

Raiffeisenbank (Bulgaria) E.A.D.

18/20 Gogol Ulica, 1504 Sofia

Phone: (+359-2) 9198 5101

Fax: (+359-2) 943 4528

SWIFT/BIC: RZBBBGSF

www.rbb.bg

Contact: Momtchil

Andreev

momtchil.andreev@rbb-sofia.raiffeisen.at

74 banking outlets

Croatia

Raiffeisenbank Austria d.d.

Petrinjska 59, 10000 Zagreb

Phone: (+385-1) 456 6466

Fax: (+385-1) 481 1624

SWIFT/BIC: RZBHHR2X

www.rba.hr

Contact: Lovorka Penavić

lovorka.penavic@rba-zagreb.raiffeisen.at

39 banking outlets

Czech Republic

Raiffeisenbank a.s.

Olbrachtova 2006/9

140 21 Praha 4

Phone: (+420) 221 141 111

Fax: (+420)221 142 111

SWIFT/BIC: RZBCCZPP

www.rb.cz

Contact: Lubor Žalman

lubor.zalman@rb.cz

www.raiffeisenbank.ba

Addresses

71


Adresar

72 www.raiffeisenbank.ba

50 banking outlets

Hungary

Raiffeisen Bank Zrt.

Akadémia útca 6, 1054 Budapest

Phone: (+36-1) 484 4400

Fax: (+36-1) 484 4444

SWIFT/BIC: UBRTHUHB

www.raiffeisen.hu

Contact: Eva Felegyhazi

eva.felegyhazi@raiffeisen.hu

99 banking outlets

Kosovo

Raiffeisen Bank Kosovo J.S.C.

Rruga UÇK 51, Priština

Phone: (+381-38) 226 400

Fax: (+381-38) 244 193

SWIFT/BIC: RBKOCS22

www.raiffeisen-kosovo.com

Contact: Oliver Whittle

oliver.whittle@raiffeisen-kosovo.com

29 banking outlets

Malta

Raiffeisen Malta Bank plc

71, II-Piazzetta, Tower Road

Sliema SLM 16, Malta

Phone: (+356) 2132 0942

Fax: (+356) 2132 0954

Contact: Anthony C. Schembri

anthony.schembri@rmb-malta.raiffeisen.at

Poland

Raiffeisen Bank Polska S.A.

Ul. Piêkna 20, 00-549 Warszawa

Phone: (+48-22) 585 2000

Fax: (+48-22) 585 2585

SWIFT/BIC: RCBWPLPW

www.raiffeisen.pl

Contact: Piotr Czarnecki

piotr.czarnecki@raiffeisen.pl

83 banking outlets

Romania

Raiffeisen Bank S.A.

Piaţa Charles de Gaulle 15

011857 Bucureşti 3

Phone: (+40-21) 306 1000

Fax: (+40-21) 230 0700

SWIFT/BIC: RZBRROBU

www.raiffeisen.ro

Contact: Steven C. van Groningen

centrala@raiffeisen.ro

216 banking outlets

Russia

ZAO Raiffeisenbank Austria

Troitskaya Ul. 17/1

129090 Moskwa

Phone: (+7-495) 721 9900

Fax: (+7-495) 721 9901

SWIFT/BIC: RZBMRUMM

www.raiffeisen.ru

Contact: Johann Jonach

jjonach@raiffeisen.ru

27 banking outlets

Serbia and Montenegro

Raiffeisenbank a.d.

Bulevar AVNOJ-a 64a

11070 Novi Beograd

Phone: (+381-11) 320 2100

Fax: (+381-11) 220 7080

SWIFT/BIC: RZBJCSBG

www.raiffeisenbank.co.yu

Contact: Oliver Rögl

oliver.roegl@raiffeisenbank.co.yu

45 banking outlets


Slovakia

Tatra banka, a.s.

Hodžovo námestie 3

811 06 Bratislava 1

Phone: (+421-2) 5919 1111

Fax: (+421-2) 5919 1110

SWIFT/BIC: TATRSKBX

www.tatrabanka.sk

Contact: Rainer Franz

rainer_franz@tatrabanka.sk

136 banking outlets

Slovenia

Raiffeisen Krekova banka d.d.

18 Slomškov trg, 2000 Maribor

Phone: (+386-2) 229 3100

Fax: (+386-2) 252 4779

SWIFT/BIC: KREKSI22

www.r-kb.si

Contact: Zoran Nemec

zoran.nemec@r-kb.si

13 banking outlets

Ukraine

JSCB Raiffeisenbank Ukraine

43, Zhylyanska vul., 01033 Kyiv

Phone: (+38 044) 490 05 00

Fax: (+38 044) 490 05 01

SWIFT/BIC: RZBUUAUK

www.rbua.com

Contact: Leonid Zyabrev

leonid.zyabrev@rbu-kiev.raiffeisen.at

39 banking outlets

JSPP Bank Aval

9, Leskova vul., 01011 Kyiv

Phone: (+38 044) 490 88 88

Fax: (+38 044) 295 32 31

SWIFT/BIC: AVAL UA UK

www.aval.ua

Contact: Leonid Zyabrev

leonid.zyabrev@rbu-kiev.raiffeisen.at

1,342 banking outlets

Raiffeisen-Leasing

International

Austria

Raiffeisen-Leasing International GmbH

Am Stadtpark 9, 1030 Wien

Phone: (+43-1) 71 707-2966

Fax: (+43-1) 71 707-2059

Contact: Dieter Scheidl

dieter.scheidl@rzb.at

Belarus

SOOO Raiffeisen Leasing

31A, V. Khoruzhey Str.

220002 Minsk

Phone: (+375-17) 289 9394

Fax: (+375-17) 289 9394

Contact: Maksim Litisky

marksim.litisky@priorbank.by

Bosnia and Herzegovina

Raiffeisen Leasing d.o.o.

St. Branilaca Sarajeva 20

71000 Sarajevo

Phone: (+387-33) 254 340

Fax: (+387-33) 212 273

Contact: Belma Sekavic-Bandic

info.leasing@rbb-sarajevo.raiffeisen.at

5 branches

Bulgaria

Raiffeisen Leasing Bulgaria OOD

Business Park Sofia

Building 11, 2nd floor, 1715 Sofia

Phone: (+359-2) 970 7979

Fax: (+359-2) 974 2057

www.raiffeisenbank.ba

Addresses

73


Adresar

74 www.raiffeisenbank.ba

Contact: Ekaterina Hristova

ekaterina.hristova@rbb-sofia.raiffeisen.at

10 branches

Croatia

Raiffeisen Leasing d.o.o.

Froudeova 11a, Siget

10 002 Zagreb

Phone: (+385-1) 659 5000

Fax: (+385-1) 659 5050

Contact: Miljenko Tumpa

miljenko.tumpa@rba-zagreb.raiffeisen.at

11 branches

Czech Republic

Raiffeisen-Leasing, s.r.o.

Olbrachtova 2006/9

14021 Praha 4

Phone: (+420-2) 215 11 611

Fax: (+420-2) 215 11 666

Contact: Richard Dvořák

dvorak@raiffleas.cz

11 branches

Hungary

Raiffeisen Lízing Rt.

Váci utca 81-85, 1139 Budapest

Phone: (+36-1) 298 8200

Fax: (+36-1) 298 8010

Contact: Pál Antall

pal.antall@raiffeisen.hu

14 branches

Kazakhstan

Raiffeisen Leasing Kazakhstan LLP

Ul. Shevchenko 146, office 12

1st floor, Almaty

Phone: (+7-3272) 709 836

Contact: Uwe Fisker

Uwe_fisker@rlk.kz

Poland

Raiffeisen-Leasing Polska S.A.

Ul. Jana Pawła II 78

00175 Warszawa

Phone: (+48-22) 562 3600

Fax: (+48-22) 562 3601

Contact: Marek Balawejder

marek.balawejder@raiffeisen.pl

52 branches

Romania

Raiffeisen Leasing SRL

Calea 13 Septembrie 90

Grand Offices Marriott Grand Hotel

Sector 5, 76122 Bucureşti

Phone: (+40-21) 403 3300

Fax: (+40-21) 403 3298

Contact: Bernd Künzel

bernd.kuenzel@raiffeisen-leasing.ro

17 branches

Russia

OOO Raiffeisen Leasing

Nikoloyamskaya 13/2

109240 Moskwa

Phone: (+7-495) 721 9901

Fax: (+7-495) 721 9901

Contact: Jaroslaw Konczewski

jkonczewski@raiffeisen.ru

4 branches

Serbia and Montenegro

Raiffeisen Leasing d.o.o.

Bulevar AVNOJ-a 45a

11070 Beograd

Phone: (+381-11) 301 6580

Fax: (+381-11) 313 0081

Contact: Ralph Zeitlberger


alph.zeitlberger@rba-belgrade.raiffeisen.at

5 branches

Slovakia

Tatra Leasing s.r.o.

Tovarenska 10, 820 04 Bratislava

Tel.: (+421-2) 591 93 050

Fax: (+421-2) 591 93 048

Contact: Igor Horvath

igor_horvath@tatrabanka.sk

8 branches

Slovenia

Raiffeisen Leasing d.o.o.

Tivolska 30 (Center Tivoli)

1000 Ljubljana

Phone: (+386-1) 241 6250

Fax: (+386-1) 241 6268

Contact: Borut Bozic

borut.bozic@raiffeisen-leasing.si

2 branches

Real-estate leasing companies

Czech Republic

Raiffeisen Leasing Real Estate s.r.o.

Olbrachtova 2006/9

140 21 Praha

Phone: (+420-2) 215 11 610

Fax: (+420-2) 215 11 641

Contact: Alois Lanegger

lanegger@raiffleas.cz

3 branches

Hungary

Raiffeisen Inglatan Rt.

Akadémia u. 6, 1054 Budapest

Phone: (+36-1) 484 8400

Fax: (+36-1) 484 8404

Contact: Laszlo Vancsko

lvancsko@raiffeisen.hu

Raiffeisen Zentralbank

Österreich AG

Austria (Head Office)

Am Stadtpark 9, 1030 Wien

Phone: (+43-1) 71 707-0

Fax: (+43-1) 71 707-1715

SWIFT/BIC: RZBAATWW

www.rzb.at

China

Beijing Branch

Beijing International Club,

Suite 200

21, Jianguomenwai Dajie

100020 Beijing

Phone: (+86-10) 6532 3388

Fax: (+86-10) 6532 5926

SWIFT/BIC: RZBACNBJ

Contact: Andreas Werner

andreas.werner@cn.rzb.at

Singapore

Singapore Branch

50, Raffles Place #45-01

Singapore Land Tower

Singapore 048623

Phone: (+65) 6225 9578

Fax: (+65) 6225 3973

Contact: Rainer Silhavy

rainer.silhavy@sg.rzb.at

United Kingdom

London Branch

10, King William Street

London EC4N 7TW

Phone: (+44-20) 7933 8000

Fax: (+44-20) 7933 8099

SWIFT/BIC: RZBAGB2L

www.raiffeisenbank.ba

Addresses

75


Adresar

76 www.raiffeisenbank.ba

www.london.rzb.at

Contact: Ian Burns

ian.burns@uk.rzb.at

U.S.A.

RZB Finance LLC

1133, Avenue of the Americas

16th floor, New York, N.Y. 10036

Phone: (+1-212) 845 4100

Fax: (+1-212) 944 2093

www.rzbfinance.com

Contact: Dieter Beintrexler

dbeintrexler@rzbfinance.com

Representative offices in

Europe

Belgium

Brussels

Rue du Commerce 20–22

1000 Bruxelles

Phone: (+32-2) 549 0678

Fax: (+32-2) 502 6407

Contact: Helga Steinberger

raiffbxl@raiffeisenbrussels.be

France

Paris

9–11, Avenue Franklin Roosevelt

75008 Paris

Phone: (+33-1) 4561 2700

Fax: (+33-1) 4561 1606

Contact: David Mollerat

david.mollerat@fr.rzb.at

Germany

Frankfurt am Main

Mainzer Landstrasse 51

D-60329 Frankfurt am Main

Phone: (+49-69) 29 92 19-18

Fax: (+49-69) 29 92 19-22

Contact: Dorothea Renninger

dorothea.renninger@rzb.at

Italy

Milan

Via Andrea Costa 2

20131 Milano

Phone: (+39-02) 2804 0646

Fax: (+39-02) 2804 0658

www.rzb.it

Contact: Maurizio Uggeri

maurizio.uggeri@it.rzb.at

Lithuania

Vilnius (Raiffeisen Bank Polska S.A.)

A. Jaksto Street 12, 01105 Vilnius

Phone: (+370-5) 266 6600

Fax: (+370-5) 266 6601

www.raiffeisen.lt

Contact: Vladislovas Jancis

vladislovas.jancis@raiffeisen.pl

Moldova

Chisinau (Raiffeisen Bank S.A.)

65 Stefan cel Mare blvd., MD-2001, Chişinãu

Phone: (+373-22) 279 331

Fax: (+373-22) 279 343

Contact: Victor Bodiu

victor.bodiu@rzb.md

Russia

Moscow

14, Pretchistensky Pereulok

Building 1, 119034 Moskwa

Phone: (+7-495) 721 9903

Fax: (+7-495) 721 9907

www.raiffeisen.ru

Contact: Evgheny Rabovsky

erabovsky@raiffeisen.ru

Sweden

Stockholm

Stureplan 4C

11435 Stockholm


Phone: (+43-1) 71 707-1588

Fax: (+43-1) 71 707-76 1588

Contact: Daniela Vorbeck

daniela.vorbeck@rzb.at

Representative offices in

America and Asia

U.S.A.

Chicago (RZB Finance LLC)

10 N. Martingale Road, Suite 400

Schaumburg, IL 60173

Phone: (+1-847) 466 1043

Fax: (+1-847) 466 1295

Contact: Charles T. Hiatt

chiatt@rzbfinance.com

Houston (RZB Finance LLC)

10777, Westheimer, Suite 1100

Houston, TX 77042

Phone: (+1-713) 260 9697

Fax: (+1-713) 260 9602

Contact: Stephen A. Plauche

splauche@rzbfinance.com

New York

1133, Avenue of the Americas

16th floor, New York, NY 10036

Phone: (+1-212) 593 7593

Fax: (+1-212) 593 9870

Contact: Dieter Beintrexler

dieter.beintrexler@rzb-newyork.raiffeisen.at

China

Hong Kong

Lippo Centre, 89 Queensway

Unit 2001, 20th Floor, Tower 1

Hong Kong

Phone: (+85-2) 2730 2112

Fax: (+85-2) 2730 6028

Contact: Edmond Wong

edmond.wong@hk.rzb.at

Zhuhai

Hangao Building 2003

Fenghuang South Street 1030

Xiangzhou District, Zhuhai

Guangdong Province

519000 China

Phone: (+86-756) 2213 075

Fax: (+86-756) 2213 165

Contact: Susanne Zhang-Pongratz

susanne.zhang@cn.rzb.at

India

Mumbai

87, Maker Chamber VI

Nariman Point, Mumbai 400 021

Phone: (+91-22) 5630 1700

Fax: (+91-22) 5632 1982

Contact: Anupam Johri

anupam.johri@in.rzb.at

Iran

Tehran

Vanak, North Shirazi Avenue

16, Ladan Str., 19917 Tehran

Phone: (+98-21) 804 6767-2

Fax: (+98-21) 803 6788

Ansprechpartner: Gerd Wolf

unico@sayareh.com

South Korea

Seoul

Leema Building, 8th floor

146-1, Soosong-dong

Chongro-ku, 110-755 Seoul

Phone: (+822) 398 5840

Fax: (+822) 398 5807

Contact: Kun II Chung

kun-il.chung@kr.rzb.at

Vietnam

Ho Chi Minh City

6, Phung Khac Khoan Str., District 1

Room G6, Ho Chi Minh City

Phone: (+84-8) 8297 934

www.raiffeisenbank.ba

Addresses

77


Adresar

78 www.raiffeisenbank.ba

Fax: (+84-8) 8221 318

Contact: Ta Thi Kim Thanh

ta-thi-kim.thanh@vn.rzb.at

Investment Banking

Austria

Raiffeisen Zentralbank Österreich AG

Fixed Income

Am Stadtpark 9, 1030 Wien

Phone: (+43-1) 71 707-3347

Fax: (+43-1) 71 707-1091

www.rzb.at

Contact: Christian Säckl

christian.saeckl@rzb.at

Raiffeisen Centrobank AG

Equity

Tegetthoffstr. 1, 1015 Wien

SWIFT/BIC: CENBATWW

Phone: (+43-1) 51 520-0

Fax: (+43-1) 513 4396

www.rcb.at

Contact: Eva Marchart

marchart@rcb.at

Raiffeisen Investment AG

Advisory

Tegetthoffstr. 1, 1015 Wien

Phone: (+43-1) 710 5400-0

Fax: (+43-1) 710 5400-39

www.riag.at

Contact: Heinz Sernetz

h.sernetz@riag.at

Subsidiaries und representative offices in

Belgrade, Bucharest,

Istanbul, Kiev, Moscow, Podgorica,

Sofia and Warsaw.

Bosnia and Herzegovina

Raiffeisen Bank d.d.

Bosna i Hercegovina

Danijela Ozme 3, 71000 Sarajevo

Phone: (+387-33) 287 100

Fax: +387-33-213 851

www.raiffeisenbank.ba

Contact: Dragomir Grgic

dragomir.grgic@rbb-sarajevo.raiffeisen.at

Bulgaria

Raiffeisenbank (Bulgaria) E.A.D.

18/20 Gogol str., 1504 Sofia

Phone: (+359-2) 9198 5451

Fax: (+359-2) 943 4528

www.rbb.bg

Contact: Evelina Miltenova

evelina.miltenova@rbb-sofia.raiffeisen.at

Croatia

Raiffeisenbank Austria d.d.

Petrinjska 59, 10000 Zagreb

Phone: (+385-1) 456 6466

Fax: (+385-1) 456 6490

www.rba.hr

Contact: Ivan Žižić

ivan.zizic@rba-zagreb.raiffeisen.at

Czech Republic

Raiffeisenbank a.s.

Olbrachtova 2006/9

140 21 Praha 4

Phone: (+420) 221 141 863

Fax: (+420) 221 143 804

www.rb.cz

Contact: Martin Bláha

martin.blaha@rb.cz

Hungary

Raiffeisen Bank Rt.

Akadémia útca 6, 1054 Budapest

Phone: (+36-1) 484 4400

Fax: (+36-1) 484 4444

www.raiffeisen.hu

Contact: Gábor Liener

gliener@raiffeisen.hu


Poland

Raiffeisen Investment Polska

Sp.z o.o.

Ul. Piêkna 20, 00-549 Warszawa

Phone: (+48-22) 585 2900

Fax: (+48-22) 585 2901

www.riag.at

Contact: Marzena Bielecka

marzena.bielecka@ripolska.com.pl

Romania

Raiffeisen Capital & Investment S.A.

Unirii Blvd. 74

030837 Bucureşti 3

Phone: (+40-21) 302 0082

Fax: (+40-21) 320 9983

www.raiffeisen.ro

Contact: James Stewart

james.stewart@rzb.ro

Russia

ZAO Raiffeisenbank Austria

Troitskaya Ul. 17/1

129090 Moskwa

Phone: (+7-495) 721 9900

Fax: (+7-495) 721 9901

www.raiffeisen.ru

Contact: Pavel Gourine

pgourine@raiffeisen.ru

Serbia and Montenegro

Raiffeisen Investment AG

Obilićev venac 27/II

11000 Beograd

Phone: (+381-11) 328 1638

Fax: (+381-11) 262 3542

Contact: Tatjana Terzic

riag@eunet.yu

Slovakia

Tatra banka, a.s.

Hodžovo námestie 3

811 06 Bratislava 1

Tel.: (+421-2) 5919 1111

Fax: (+421-2) 5919 1110

www.tatrabanka.sk

Contact: Igor Vida

igor_vida@tatrabanka.sk

Slovenia

Raiffeisen Krekova banka d.d.

Slomškov trg 18, 2000 Maribor

Phone: (+386-2) 229 3111

Fax: (+386-2) 252 5518

www.r-kb.si

Contact: Gvido Jemenšek

gvido.jemensek@r-kb.si

Ukraine

Raiffeisen Investment TOV

43, Zhylyanska Str., 01033 Kyiv

Phone: (+38-044) 490 6898

Fax: (+38-044) 490 6899

Contact: Vyacheslav Yakymuk

vyacheslav.yakymuk@rio-kiev.raiffeisen.at

www.raiffeisenbank.ba

Addresses

79


80 www.raiffeisenbank.ba


www.raiffeisenbank.ba

81


Finansijski izvještaji

Odgovornost za finansijske izvještaje

U skladu sa Zakonom o računovodstvu reviziji Federacije Bosne i Hercegovine (“Službene novine Federacije Bosne

i Hercegovine”, broj 32/05), Uprava je dužna osigurati da za svaku finansijsku godinu budu sastavljeni finansijski

izvještaji u skladu s Međunarodnim standardima finansijskog izvještavanja (MSFI), koje je objavio Odbor za

međunarodne računovodstvene standarde, koji pružaju istinit i fer pregled stanja u Banci, kao i njene rezultate

poslovanja za navedeni period.

Nakon provedbe ispitivanja, Uprava opravdano očekuje da će Banka u dogledno vrijeme raspolagati

odgovarajućim resursima, te stoga pri sastavljanju finansijskih izvještaja i dalje usvaja načelo vremenske

neograničenosti poslovanja.

Odgovornosti Uprave pri izradi finansijskih izvještaja obuhvaćaju sljedeće:

- odabir i dosljednu primjenu odgovarajućih računovodstvenih politika

- davanje opravdanih i razboritih prosudbi i procjena

- postupanje u skladu s važećim računovodstvenim standardima, uz objavljivanje i obrazloženje svih materijalno

značajnih odstupanja u finansijskim izvještajima te

- sastavljanje finansijskih izvještaja pod pretpostavkom vremenske neograničenosti poslovanja, osim ako pretpostavka

da će Banka nastaviti poslovati nije primjerena.

Uprava je odgovorna za vođenje odgovarajućih računovodstvenih evidencija, koje u svakom trenutku s opravdanom

točnošću prikazuju finansijski položaj Banke. Također, Uprava je dužna pobrinuti se da finansijska izvještaji

budu u skladu sa Zakonom o računovodstvu. Pored toga, Uprava je odgovorna za čuvanje imovine Banke te za

poduzimanje opravdanih koraka za sprječavanje i otkrivanje prijevare i drugih nepravilnosti.

82 www.raiffeisenbank.ba

Potpisao za i u ime Uprave

Edin Muftić

Raiffeisen BANK d.d. Bosna i Hercegovina

Danijela Ozme 3

71 000 Sarajevo

Bosna i Hercegovina

20. Januar 2006.


Responsibility for Financial Reports

Pursuant to the Law on Accounting and Audit of Federation of Bosnia and Herzegovina (Official Gazzette No.

32/05), the Management Board is responsible for ensuring that financial statements are prepared for each financial

year in accordance with International Financial Reporting Standards (IFRS) as published by the International

Accounting Standards Board (IASB) which give a true and fair view of the state of affairs and results of the Bank for

that period.

After making enquiries, the Management Board has a reasonable expectation that the Bank has adequate resources

to continue in operational existence for the foreseeable future. For this reason, the Management Board continues

to adopt the going concern basis in preparing the financial statements.

In preparing those financial statements, the responsibilities of the Management Board include ensuring that:

- suitable accounting policies are selected and then applied consistently;

- judgements and estimates are reasonable and prudent;

- applicable accounting standards are followed, subject to any material departures disclosed and explained in the

financial statements; and

- the financial statements are prepared on the going concern basis unless it is inappropriate to presume that the

Bank will continue in business.

The Management Board is responsible for keeping proper accounting records, which disclose with reasonable

accuracy at any time the financial position of the Bank and must also ensure that the financial statements comply

with the Bosnia and Herzegovina Accounting Law (90/92). The Management Board is also responsible for safeguarding

the assets of the Bank and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

Signed on behalf of the Management Board

Edin Muftić

Raiffeisen BANK d.d. Bosna i Hercegovina

Danijela Ozme 3

71000 Sarajevo

Bosnia and Herzegovina

20 January 2006

Financial statement

www.raiffeisenbank.ba

83


Finansijski izvještaji

NEZAVISNO REVIZORSKO MIŠLJENJE

Dioničarima Raiffeisen bank d.d. Bosna i Hercegovina

Obavili smo reviziju priloženih nekonsolidovanih bilansa stanja Raiffeisen Bank d.d. Bosna i Hercegovina (u daljnjem

tekstu: “Banka”) na dan 31. decembra 2005. i 2004. godine te povezanih nekonsolidovanih bilansa uspjeha,

izvještaja o promjenama vlasničke glavnice i izvještaja o novčanim tokovima za godine koje su tada završile.

Odgovornost za ove finansijske izvještaje snosi Uprava Banke. Naša odgovornost je izraziti mišljenje o finansijskim

izvještajima na temelju naše revizije.

Reviziju smo obavili u skladu sa Međunarodnim revizijskim standardima. Navedeni standardi zahtijevaju da reviziju

planiramo i obavimo na način kojim ćemo steći razumno uvjerenje da finansijski izvještaji ne sadrže materijalno

značajne pogreške. Revizija uključuje i ispitivanje testiranjem podataka iz evidencija na temelju kojih su

objavljeni iznosi i drugi podaci u finansijskim izvještajima. Revizija također uključuje i ocjenjivanje primijenjenih

računovodstvenih načela i značajnih procjena uprave, kao i ocjenjivanje prikaza finansijskih izvještaja u cjelini.

Uvjereni smo da nam revizija koju smo obavili pruža razumnu osnovu za naše mišljenje.

Po našem mišljenju, priloženi finansijski izvještaji prikazuju realno i objektivno, u svim značajnim odrednicama,

nekonsolidovani finansijski položaj Raiffeisen Bank d.d. Bosna i Hercegovina na dan 31. decembra 2005. i 2004.

godine, kao i nekonsolidovane rezultate njezinog poslovanja, novčane tokove i promjene vlasničke glavnice za

godine koje su tada završile u skladu sa Međunarodnim standardima finansijskog izvještavanja.

84 www.raiffeisenbank.ba

Deloitte d.o.o.

20. januar 2006. godine


INDEPENDENT AUDITORS’ REPORT

To the Shareholders of Raiffeisen Bank d.d. Bosna i Hercegovina

We have audited the accompanying unconsolidated balance sheets of Raiffeisen Bank d.d. Bosna i Hercegovina

(the ‘Bank’) for the years ended 31 December 2005 and 2004 and the related unconsolidated statements of

income, changes in shareholders’ equity and cash flows for the years then ended. These financial statements are

the responsibility of the Bank’s management. Our responsibility is to express an opinion on these financial statements

based on our audits.

We conducted our audits in accordance with International Standards on Auditing. Those standards require that we

plan and perform our audits to obtain reasonable assurance about whether the financial statements are free of

material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures

in the financial statements. An audit also includes assessing the accounting principles used and the significant

estimates made by management as well as evaluating the overall presentation of the financial statements. We

believe that our audits provide a reasonable basis for our opinion.

In our opinion the financial statements present fairly, in all material respects, the unconsolidated financial position

of Raiffeisen Bank d.d. Bosna i Hercegovina as of 31 December 2005 and 2004, and the unconsolidated results of

its operations, cash flows, and changes in shareholders’ equity for the years then ended in accordance with International

Financial Reporting Standards.

Deloitte d.o.o.

20 January 2006

Financial statement

www.raiffeisenbank.ba

85


Finansijski izvještaji

Bilansi uspjeha

Za godine koje su završile 31. decembra 2005. i 2004.

(Svi iznosi izraženi su u hiljadama KM)

86 www.raiffeisenbank.ba

Napomena 2005. 2004.

Prihodi od kamata 3 135,665 106,504

Rashodi od kamata 4 (51,608) (38,162)

Neto prihod od kamata 84,057 68,342

Prihodi od naknada i provizija 5 33,551 36,400

Rashodi od naknada i provizija 6 (3,421) (5,057)

Neto prihod od naknada i provizija 30,130 31,343

Neto dobit iz finansijskog poslovanja 7 5,811 5,138

Neto prihod od prodaje ulaganja 9 3,938 -

Ostali prihodi iz poslovanja 8 643 2,360

Prihod iz redovnog poslovanja 124,579 107,183

Administrativni troškovi 11 (75,033) (64,468)

Amortizacija dugotrajne materijalne imovine 21 (3,946) (3,592)

Amortizacija dugotrajne nematerijalne imovine 21 (1,408) (1,620)

Rashodi iz redovnog poslovanja (80,387) (69,680)

DOBIT PRIJE REZERVISANJA I POREZA NA DOBIT 44,192 37,503

Umanjenja vrijednosti i rezervisanja 12 (25,890) (22,502)

Naplaćena otpisana potraživanja 10 5,927 6,145

DOBIT PRIJE POREZA NA DOBIT 24,229 21,146

Porez na dobit 13 - -

DOBIT TEKUĆE GODINE 24,229 21,146

Računovodstvene politike i napomene u nastavku čine sastavni dio nekonsolidovanih finansijskih izvještaja.


Income Statements

For the years ended 31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

Notes 2005 2004

Interest income 3 135,665 106,504

Interest expense 4 (51,608) (38,162)

Net interest income 84,057 68,342

Fee and commission income 5 33,551 36,400

Fee and commission expense 6 (3,421) (5,057)

Net fee and commission income 30,130 31,343

Net trading income 7 5,811 5,138

Net income upon disposal of investments 9 3,938 -

Other operating income 8 643 2,360

Operating income 124,579 107,183

Administrative expenses 11 (75,033) (64,468)

Depreciation of tangible fixed assets 21 (3,946) (3,592)

Amortisation of intangible fixed assets 21 (1,408) (1,620)

Operating Expense (80,387) (69,680)

PROFIT BEFORE IMPAIRMENT LOSSES,

PROVISIONS AND INCOME TAX 44,192 37,503

Impairment losses and provisions 12 (25,890) (22,502)

Collected write-offs 10 5,927 6,145

PROFIT BEFORE INCOME TAX 24,229 21,146

Income tax 13 - -

NET PROFIT FOR THE YEAR 24,229 21,146

The accompanying notes form an integral part of these unconsolidated financial statements.

Financial statement

www.raiffeisenbank.ba

87


Finansijski izvještaji

Bilansi stanja

Na dan 31. decembra 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

IMOVINA

88 www.raiffeisenbank.ba

Napomena 2005. 2004.

Novac i sredstva kod banaka 14 90,120 149,011

Obavezna rezerva kod Centralne banke 15 338,183 182,955

Plasmani kod drugih banaka 16 652,329 582,900

Dati krediti i potraživanja 17 1,331,998 1,057,736

Kupljeni krediti koji se drže do dospijeća 18 47 1,136

Kapitalna ulaganja 19 2,484 4,879

Ostala imovina 20 36,222 26,907

Nekretnine i oprema 21 42,090 34,471

UKUPNA IMOVINA 2,493,473 2,039,995

OBAVEZE

Obaveze prema drugim bankama 22 593,475 435,631

Obaveze prema klijentima 24 1,627,021 1,396,340

Rezervisanja 28 18,239 12,023

Ostale obaveze 25 23,294 20,198

Subordinirani dug 23 62,000 42,050

UKUPNE OBAVEZE 2,324,029 1,906,242

VLASNIČKA GLAVNICA

Dionički kapital 89,306 73,306

Rezerve i zadržana dobit 80,138 60,447

UKUPNA VLASNIČKA GLAVNICA 169,444 133,753

UKUPNO OBAVEZE I VLASNIČKA GLAVNICA 2,493,473 2,039,995

PREUZETE I POTENCIJALNE FINANSIJSKE OBAVEZE 27 525,044 374,932

Potpisali u ime Raiffeisen Bank d.d. Bosna i Hercegovina dana 20. januara 2006. godine:

Predsjednik Uprave Direktor sektora za finansije

Edin Muftić Djula Hasanbegović

Napomene u nastavku čine sastavni dio ovih finansijskih izvještaja.


Balance Sheets

as at 31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

ASSETS

Notes 2005 2004

Cash and amounts due from banks 14 90,120 149,011

Obligatory reserve with the Central Bank 15 338,183 182,955

Placements with other banks 16 652,329 582,900

Loans and receivables 17 1,331,998 1,057,736

Purchased loans held to maturity 18 47 1,136

Equity investments 19 2,484 4,879

Other assets 20 36,222 26,907

Property and equipment 21 42,090 34,471

TOTAL ASSETS 2,493,473 2,039,995

LIABILITIES

Amounts due to banks 22 593,475 435,631

Amounts due to customers 24 1,627,021 1,396,340

Provisions 28 18,239 12,023

Other liabilities 25 23,294 20,198

Subordinated debt 23 62,000 42,050

TOTAL LIABILITIES 2,324,029 1,906,242

SHAREHOLDERS’ EQUITY

Share capital 89,306 73,306

Reserves and retained earnings 80,138 60,447

TOTAL SHAREHOLDER’S EQUITY 169,444 133,753

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 2,493,473 2,039,995

FINANCIAL COMMITMENTS AND CONTINGENCIES 27 525,044 374,932

Signed on behalf of Raiffeisen bank d.d. Bosna i Hercegovina on 20 January 2006:

President of the Management Board Director of the Finance Department

Edin Muftić Djula Hasanbegović

The accompanying notes form an integral part of these financial statements.

Financial statement

www.raiffeisenbank.ba

89


Finansijski izvještaji

Izvještaji o novčanim tokovima

za godine koje su završile 31. decembra 2005. i 2004.

(Svi iznosi izraženi su u hiljadama KM)

Poslovne aktivnosti

90 www.raiffeisenbank.ba

Bilješka 2005. 2004.

Neto dobit 24,229 21,146

Usklađenje na neto novčana sredstva ostvarena poslovnim aktivnostima:

Amortizacija 21 5,354 5,212

Rezervisanja 12 25,890 22,502

Neto prihod od prodaje kapitalnih ulaganja 9 (3,938) -

Promjene na imovini i obavezama:

Neto povećanje potraživanja od Centralne banke 15 (155,228) (124,892)

Neto povećanje plasmana kod drugih banaka, prije rezervisanja 16 (69,426) (196,304)

Neto povećanje kredita i potraživanja, prije rezervisanja 17 (294,384) (268,147)

Neto smanjenje kupljenih kredita, prije rezervisanja 18 1,221 2,472

Neto povećanje ostale aktive, prije rezervisanja 20 (9,428) (1,115)

Neto (smanjenje)/povećanje obaveza prema bankama 22 (33,730) 38,343

Neto povećanje oročenih i depozita po viđenju 24 230,681 380,247

Neto povećanje/(smanjenje) obaveza za obračunatu kamatu 25 1,211 (470)

Neto povećanje ostalih obaveza 25 1,885 9,818

NETO NOVAC KORIŠTEN U POSLOVNIM AKTIVNOSTIMA (275,663) (111,188)

Investicijske aktivnosti

Neto povećanje ulaganja, prije rezervisanja za moguće gubitke 19 (741) (495)

Neto nabavke materijalne i nematerijalne imovine 21 (12,935) (14,571)

Prodaja kapitalnih ulaganja 9 7,462 -

NETO NOVAC KORIŠTEN U INVESTICIJSKIM AKTIVNOSTIMA (6,214) (15,066)

Finansijske aktivnosti

Neto povećanje obaveza po kreditima 22 191.574 166.040

Neto povećanje subordiniranog duga 22 19.950 12.713

Uplata kapitala 16.000 24.000

Isplaćene dividende (4.538) (3.049)

NETO NOVAC OSTVAREN U FINANSIJSKIM AKTIVNOSTIMA 222.986 199.704

NETO (SMANJENJE)/POVEĆANJE NOVCA I NOVČANIH EKVIVALENATA (58.891) 73.450

NOVAC I NOVČANI EKVIVALENTI 1. JANUARA 14 149.011 75.561

NOVAC I NOVČANI EKVIVALENTI 31. DECEMBRA 14 90.120 149.011

Napomene u nastavku čine sastavni dio ovih finansijskih izvještaja.


Statements of cash flows

For the years ended 31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

Operating Activities

Notes 2005 2004

Net Income 24,229 21,146

Adjustments to reconcile net income to net

cash provided by operating activities:

Depreciation and amortization 21 5,354 5,212

Impairment losses and provisions 12 25,890 22,502

Net income from sale of equity investments 9 (3,938) -

Changes in operating assets and liabilities:

Net increase in due from Central Bank 15 (155,228) (124,892)

Net increase in placements with other banks, before impairment losses 16 (69,426) (196,304)

Net increase in loans and receivables, before impairment losses 17 (294,384) (268,147)

Net decrease in purchased loans, before impairment losses 18 1,221 2,472

Net increase in other assets, before impairment losses 20 (9,428) (1,115)

Net (decrease)/increase in due to banks 22 (33,730) 38,343

Net increase in demand and term deposits 24 230,681 380,247

Net increase/(decrease) in accrued interest payable 25 1,211 (470)

Net increase in other liabilities 25 1,885 9,818

NET CASH USED IN OPERATING ACTIVITIES (275,663) (111,188)

Investing Activities

Net increase in investments, before impairment losses 19 (741) (495)

Net purchases of property and equipment 21 (12,935) (14,571)

Proceeds from sale of equity investments 9 7,462 -

NET CASH USED IN INVESTING ACTIVITIES (6,214) (15,066)

Financing Activities

Net proceeds from borrowings 22 191,574 166,040

Net proceeds from subordinated debt 22 19,950 12,713

Paid-in capital 16,000 24,000

Dividends paid (4,538) (3,049)

NET CASH PROVIDED BY FINANCING ACTIVITIES 222,986 199,704

NET (DECREASE)/ INCREASE IN CASH AND CASH EQUIVALENTS (58,891) 73,450

CASH AND CASH EQUIVALENTS AT 1 JANUARY 14 149,011 75,561

CASH AND CASH EQUIVALENTS AT 31 DECEMBER 14 90,120 149,011

The accompanying notes form an integral part of these financial statements.

Financial statement

www.raiffeisenbank.ba

91


Finansijski izvještaji

Izvještaji o promjenama vlasničke glavnice

Za godine koje su završile 31. decembra 2005. i 2004.

(Svi iznosi izraženi su u hiljadama KM)

92 www.raiffeisenbank.ba

Dionički kapital Zadržana

dobit

Ukupno

Stanje 31. decembra 2003. 49,306 42,350 91,656

Promjene glavnice tokom 2004. godine

12. emisija dionica 10,000 - 10,000

13. emisija dionica 7,000 - 7,000

14. emisija dionica 7,000 - 7,000

Dividende - (3,049) (3,049)

Neto dobit za godinu - 21,146 21,146

Stanje 31. decembra 2004. 73,306 60,447 133,753

Promjene glavnice tokom 2005. godine

15. emisija dionica 16,000 - 16,000

Dividende - (4,538) (4,538)

Neto dobit za godinu - 24,229 24,229

Stanje 31. decembra 2005. 89,306 80,138 169,444

Napomene u nastavku čine sastavni dio finansijskih izvještaja.


Statements of changes in shareholders’ equity

For the years ended 31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

Share

capital

Retained

earnings

Balance as at 31 December 2003 49,306 42,350 91,656

Changes in equity for 2004

12th issue of shares 10,000 - 10,000

13th issue of shares 7,000 - 7,000

14th issue of shares 7,000 - 7,000

Dividend declared - (3,049) (3,049)

Net income for the year - 21,146 21,146

Balance as at 31 December 2004 73,306 60,447 133,753

Changes in equity for 2005

15th issue of shares 16,000 - 16,000

Dividend declared - (4,538) (4,538)

Net income for the year - 24,229 24,229

Balance as at 31 December 2005 89,306 80,138 169,444

The accompanying notes form an integral part of these financial statements.

Financial statement

Total

www.raiffeisenbank.ba

93


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

1. OPĆI PODACI

Historija i osnivanje

Raiffeisen Bank d.d. Bosna i Hercegovina, Sarajevo, Danijela Ozme 3 (“Banka”) počela je sa radom 1993. godine.

Na dan ovih izvještaja, Raiffeisen International Bank Holding AG je imala 96,99% učešća u dioničarskom kapitalu.

Osnovne djelatnosti Banke

Glavne djelatnosti Banke su:

1. primanje i plasiranje depozita,

2. primanje depozita po viđenju i oročenih depozita,

3. davanje dugoročnih i kratkoročnih kredita i izdavanje dugoročnih i kratkoročnih garancija lokalnim tijelima,

preduzećima, stanovništvu, privatnim osobama i drugim kreditnim institucijama koje se bave finansijskim

najmovima i transakcijama u stranoj valuti,

4. aktivnosti na međubankarskom tržištu,

5. obavljanje unutrašnjeg i vanjskog platnog prometa

6. mjenjačke i ostale redovne bankarske usluge

7. pružanje bankarskih usluga putem razvijene mreže filijala u Bosni i Hercegovini.

Nadzorni odbor

Uprava Banke

Odbor za reviziju

94 www.raiffeisenbank.ba

Herbert Stepic Predsjednik

Zdenko Adrović Član

Heinz Hoedl Član

Petter Lennkh Član

Angelika Weiss Član

Edin Muftić Direktor

Zdenko Mihajlović Član

Ognjen Samardžić Član

Dino Osmanbegović Član

Michael Müller Član

Wolfgang Trost Predsjednik

Suad Kurtagić Član

Boris Tihi Član

Izudin Kešetović Član

Miloš Trifković Član


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

1. GENERAL

History and incorporation

Raiffeisen Bank d.d. Bosna i Hercegovina, Sarajevo, Danijela Ozme 3 (the “Bank”) commenced operations

in 1993. At the date of these financial statements, Raiffeisen International Bank Holding AG held 96.99% of

shareholders’ capital.

Principal activities of the Bank

The Bank’s main operations are as follows:

1. accepting deposits from the public and placing of deposits,

2. providing current and term deposit accounts;

3. granting short- and long-term loans and guarantees to the local municipalities, corporate customers,

private individuals and other credit institutions dealing with finance lease and foreign exchange

transactions,

4. money market activities

5. performing local and international payments,

6. foreign currency exchange and other banking-related activities

7. providing banking services through an extensive branch network in the Bosnia and Herzegovina

Supervisory Board

Board of Directors

Audit Committee

Herbert Stepic President

Zdenko Adrović Member

Heinz Hoedl Member

Petter Lennkh Member

Angelika Weiss Member

Edin Muftić General Manager

Zdenko Mihajlović Member

Ognjen Samardžić Member

Dino Osmanbegović Member

Michael Müller Member

Wolfgang Trost President

Suad Kurtagić Member

Boris Tihi Member

Izudin Kešetović Member

Miloš Trifković Member

Financial statement

www.raiffeisenbank.ba

95


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

Vlasnička struktura Banke je kako slijedi:

Dioničari Broj dionica

Raiffeisen International

Bank Holding AG

Millenia Beteiligungsverwaltungs

GmbH

96 www.raiffeisenbank.ba

31. decembra 2005. 31. decembra 2004.

Iznos

‘000 KM % Broj dionica

Iznos

‘000 KM %

329,104 82,276 96,99 267,024 66,756 96,97

10,180 2,545 3,00 8,260 2,065 3,00

Ostali dioničari 48 12 0,01 48 12 0,03

Kapitalne premije - 4,473 - - 4,473 -

Total 339,332 89,306 100,00 275,332 73,306 100,00

Tokom 2005. godine dionički kapital Banke se povećao sa 73.306 hiljada KM (275.332 obične dionice) na 89.306

hiljada KM (339.332 obične dionice) kroz emisiju 64.000 običnih dionica u vrijednosti od 16.000 hiljada KM kroz

15. zatvorenu emisiju običnih dionica Raiffeisen International Bank Holding AG u ukupnom iznosu od 15.520 hiljada

KM i Millenia Beteiligungsverwaltungs GmbH u ukupnom iznosu od 480 hiljada KM. Dividenda se isplaćuje samo u

skladu sa odobrenjem skupštine Banke.

Banka posluje kroz jedan poslovni i geografski segment, a to je pružanje bankarskih usluga u Bosni i Hercegovini.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

The shareholding structure is as follows:

Shareholders No. of shares

Raiffeisen International

Bank Holding AG

Millenia Beteiligungsverwaltungs

GmbH

31 December 2005 31 December 2004

Amount

‘000 KM % No. of shares

Amount

‘000 KM %

329,104 82,276 96.99 267,024 66,756 96.97

10,180 2,545 3.00 8,260 2,065 3.00

Other shareholders 48 12 0.01 48 12 0.03

Capital premiums - 4,473 - - 4,473 -

Total 339,332 89,306 100.00 275,332 73,306 100.00

During 2005 the Bank’s paid in capital was increased from KM 73,306 thousand (275,332 ordinary shares) to KM

89,306 thousand (339,332 ordinary shares) by the issue of 64,000 ordinary shares for KM 16,000 thousand by

way of 15th closed ordinary share issue to Raiffeisen International Bank Holding AG for shares in total amount of

KM 15,520 thousand and Millenia Beteiligungsverwaltungs GmbH for shares in total amount of KM 480 thousand.

Dividends are recognized and paid only if approved by the Bank’s General Assembly.

The Bank considers that it operates in a single business segment, and a single geographical segment, that is the

provision of banking services in Bosnia and Herzegovina.

Financial statement

www.raiffeisenbank.ba

97


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

2. SAŽETAK TEMELJNIH RAČUNOVODSTVENIH POLITIKA

Temelj prezentiranja

Finansijski izvještaji sastavljeni su u skladu sa Međunarodnim standardima finnsijskog izvještavanja (“MSFI”) koje

je objavio Odbor za međunarodne računovodstvene standarde. Ovi finansijski izvještaji pripremljeni su po načelu

historijskog troška, izuzev određenih finansijskih instrumenata koji su iskazani u revaloriziranim iznosima. Finansijski

izvještaji prezentirani su u hiljadama konvertibilnih maraka (‘000 KM), budući da je konvertibilna marka funkcijska

valuta Banke.

Finansijski izvještaji sastavljeni su po načelu nastanka događaja, kao i pod pretpostavkom vremenske neograničenosti

poslovanja.

Sastavljanje finansijskih izvještaja u skladu sa MSFI zahtijeva od Uprave da daje procjene i izvodi pretpostavke koje

utiču na iskazane iznose imovine i obaveza te objavu nepredviđene imovine i nepredviđenih obaveza na datum

finansijskih izvještaja, kao i na iskazane prihode i rashode tokom izvještajnog perioda. Procjene se temelje na

informacijama koje su bile dostupne na datum sastavljanja finansijskih izvještaja, te se stvarni iznosi mogu razlikovati

od procijenjenih.

Banka je ove nekonsolidivane finansijske izvještaje sastavila u skladu sa zakonima i propisima Federacije Bosne i

Hercegovine te je ulaganja u povezana i pridružena lica u ovim finansijskim izvještajima iskazala po trošku. Banka

će također izraditi i konsolidovane finansijske izvještaje, koje će Uprava usvojiti. Radi boljeg razumijevanja Grupe u

cjelini, korisnici trebaju čitati konsolidovane finansijske izvještaje.

Banka vodi svoje poslovne knjige i sastavlja svoje finansijske izvještaje u skladu s propisima i odlukama Federalne

bankarske agencije (FBA) i zakona o bankama Federacije Bosne i Hercegovine. Priloženi finansijski izvještaji

sastavljeni su na temelju računovodstvenih evidencija Banke i uključuju odgovarajuća usklađenja i reklasifikacije koje

su potrebne u svrhu istinitog i objektivnog prikaza u skladu s MSFI.

Promjena računovodstvene politike

Od 1. januara 2005. godine Banka je promijenila svoje računovodstvene politike, a vezano za priznavanje prihoda

od naknada za odobravanja kredita i za rashode od naknada za uzete kredite. U skladu s novom politikom prihodi

od naknada za date kredite, poslije odobrenja i puštanja sredstava, su razgraničeni (zajedno s ostalim pripadajućim

troškovima) i priznati kao usklađenje efektivnog prinosa od kredita tokom vijeka trajanja kredita. Rashod od

naknada za uzete kredite razgraničava se tokom vijeka trajanja uzetih sredstava. Uprava Banke vjeruje da će nova

računovodstvena politika rezultirati vjerodostojnijim prezentiranjem finansijskih izvještaja. Efekt promjene je smanjenje

prihoda od naknada u iznosu od 5.679 hiljada KM i smanjenje troškova naknada u iznosu od 1.353 hiljade KM u

2005. godini, što je uticalo na smanjenje dobiti prije poreza za 4.325 hiljade KM. Za godine koje su završile prije 1.

januara 2005. Uprava je procijenila da efekt neprimjene nove računovodstve politike retroaktivno nije materijalan

za finansijske izvještaje u cjelini. Da je nova računovodstvena politika bila primijenjena, zadržana dobit na dan 31.

decembra 2004. godine bi trebala biti umanjena za 353 hiljade KM.

98 www.raiffeisenbank.ba


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

These financial statements are prepared in accordance with International Financial Reporting Standards (‘IFRS’) as

published by the International Accounting Standards Board. The financial statements have been prepared under the

historical cost basis, except for the revaluation of certain financial instruments at fair value. The financial statements

are presented in thousands of convertible mark (KM’000) which is the functional currency of the Bank.

The financial statements are prepared on an accrual basis of accounting, under the going concern assumption.

The preparation of financial statements in conformity with IFRS requires management to make estimates and

assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities

at the date of the financial statements and their reported amounts of revenues and expenses during the reporting

period. These estimates are based on the information available as at the balance sheet date and actual results could

differ from those estimates.

The Bank has prepared these unconsolidated financial statements as required by Law of Federation of Bosnia and

Herzegovina, and its investments in associates and subsidiaries are presented in these financial statements at cost.

The Bank will also prepare consolidated financial statements, which will be approved by the Management Board. For

a better understanding of the Group as a whole, users should read the consolidated financial statements.

The Bank maintains its books of accounts and prepares financial statements for regulatory purposes in accordance

with the regulations of the Federal Banking Agency (‘FBA”) and Law on Banks of the Federation of Bosnia and

Herzegovina. The accompanying financial statements are based on the accounting records of the Bank, together with

appropriate adjustments and reclassifications necessary for fair presentation in accordance with IFRS.

Change in accounting policies

Effective 1 January 2005 the Bank changed its accounting policy in respect of recognizing loan origination fee income

and borrowing fee expense. According to the new policy loan origination fees, after approval and drawdown of

loans, are deferred (together with related direct costs) and recognized as an adjustment to the effective yield of the

loan over its life and borrowing fee expense is deferred over the life of the borrowing. Management believes that

new accounting policy will result in a more appropriate financial statement presentation. The effect of the change is

a decrease in fee income of KM 5,679 thousand and decrease in fee expense of KM 1,353 thousand in 2005, which

resulted in profit before income tax reduced by KM 4,325 thousand. The Management assessed the effect of not

applying new accounting policy retrospectively, for the years ended before 1 January 2005 as not material for the

financial statements as a whole. If the new accounting policy had been applied, retained earnings as of 31 December

2004 would have been decreased by KM 353 thousand.

Financial statement

www.raiffeisenbank.ba

99


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

Stvarna stanja za 2005. i 2004. te pro-forma stanja za 2004. godinu mogu se prikazat kako slijedi:

Promjena u portfoliju kredita i potraživanja Banke

U skladu sa promjenama koje donosi izmijenjeni MRS 39 Finansijski instrumenti, neto zajmovi i potraživanja iz

sredstava Banke zamijenjeni su stavom “Dati krediti i potraživanja”. Prema izmijenjenoj definiciji, Banci je dopušteno

da u date kredite i potraživanja svrsta kupljene kredite koji ne kotiraju na aktivnom tržištu.

Kapitalna ulaganja

Podružnica je subjekt koji je pod kontrolom Banke. Kontrola se postiže na način da Banka ima moć sudjelovanja u

odlukama o finansijskim i poslovnim politikama subjekta na način da ostvari koristi od poslovanja povezanog lica.

Pridruženo lice je subjekt u kojem Banka ima značajan utjecaj, ali koji nije ni pridruženo lice niti zajedničko ulaganje.

Značajan uticaj je moć sudjelovanja u odlukama o finansijskim i poslovnim politikama subjekta koji je predmet

ulaganja, ali nije i kontrola niti zajednička kontrola nad tim politikama.

Ulaganja u nekonsolidovana povezana i pridružena lica vrednuju se u odvojenim finansijskim izvještajima po trošku

umanjenom za gubitke od umanjenja vrijednosti.

Finansijske informacije o ulaganjima u povezana i pridružena lica prikazane su u nastavku:

100 www.raiffeisenbank.ba

2005. 2004. Pro Forma 2004.

Prihod od naknada - krediti i garancije 3,623 3,553 2,951

Rashodi od naknada – uzeti krediti

i druge bankarske usluge 2,802 4,249 3,839

Unaprijed plaćeni troškovi 2,596 1,987 3,169

Odgođeni prihod 5,679 - 1,535

Zadržana dobit 80,138 60,447 60,094

Podržnice:

Raiffeisen Brokers d.o.o.

Sarajevo

DUF, Market Investment

Group d.o.o Sarajevo

Ukupna imovina Dionički kapital

Dobit za

2005.

Akumulirani

dobici/gubici

Ukupna

glavnica

2,127 507 881 - 1,388

3,145 1,610 560 934 3,104


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

Actual balances for 2005 and 2004 and pro forma balances for 2004 can be presented as follows:

Change in portfolio of originated loans and receivables

In accordance with the changes of IAS 39 (Revised) Financial Instruments portfolio of ‘Originated loans and advances

to customers, net was changed to ‘Loans and receivables’. Under the revised definition, the Bank is permitted to

classify as loans and receivables purchased loans that are not quoted in an active market.

Equity investments

A subsidiary is an entity which is controlled by the Bank. Control is achieved where the Bank has the power to govern

the financial and operating policies of an entity so as to obtain benefits from its activities.

An associate is an entity over which the Bank has significant influence and that is neither a subsidiary nor a joint

venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee

but is not control or joint control over those policies.

Investments in non-consolidated subsidiaries and associates are valued in these unconsolidated financial statements

at cost less impairment.

Financial information about investments in subsidiaries and associates are as follows:

2005 2004 Pro Forma 2004

Fee income - loans and guarantees 3,623 3,553 2,951

Fee expense - borrowed funds and

other banking services 2,802 4,249 3,839

Prepaid expenses 2,596 1,987 3,169

Deferred income 5,679 - 1,535

Retained earnings 80,138 60,447 60,094

Subsidiaries:

Total

Assets

Share

capital

Profit for

2005

Accumulated

losses/gains

Total Equity

Raiffeisen Brokers d.o.o.

Sarajevo 2,127 507 881 - 1,388

DUF, Market Investment Group d.o.o

Sarajevo 3,145 1,610 560 934 3,104

Financial statement

www.raiffeisenbank.ba

101


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

Prihodi i rashodi od kamata

Prihodi i rashodi od kamata iskazuju se u Bilansu uspjeha za sve instrumente koji donose kamatu po načelu

obračunatih kamata primjenom metode stvarnog prinosa, a na temelju stvarne kupovne cijene. Prihodi od kamata

uključuju amortizaciju diskonta, premije ili bilo koje razlike između početne knjigovodstvene vrijednosti dužničkih

vrijednosnih papira i njihove vrijednosti po dospjeću, uključujući materijalne naknade za obradu kreditnih zahtjeva.

Kamate na depozite se pripisuju glavnici ako je to ugovorom predviđeno. Prihod od kamata se suspendira kada se

ustanovi da nije izvjestan. Suspendirana kamata se iskazuje kao prihod kada se naplati.

Prihodi i rashodi od naknada i provizija

Naknade i provizije sastoje se uglavnom od provizija u domaćem i inostranom platnom prometu, te naknada za

odobrenje kredita i drugih kreditnih instrumenata Banke.

Provizije od platnog prometa priznaju se u periodu u kojem su usluge pružene.

Naknade za odobrenje kredita se nakon odobrenja i povlačenja kreditnih sredstava odgađaju, (zajedno s povezanim

direktnim troškovima odobrenja) i priznaju kao usklađenje efektivnog prinosa na kredit tokom perioda kreditiranja

(od 1. januara 2005. godine)

Oporezivanje

Poreski rashod s temelja poreza na dobit jest zbirni iznos tekuće poreske obaveze i odgođenih poreza.

Tekuća poreska obaveza temelji se na oporezivoj dobiti za godinu. Oporeziva dobit razlikuje se od neto dobiti

perioda iskazanoj u bilansu uspjeha jer uključuje stavke prihoda i rashoda koje su oporezive ili neoporezive u

drugim godinama, kao i stavke koje nikada nisu oporezive ni odbitne. Tekuća poreska obaveza Društva izračunava

se primjenom poreskih stopa koje su na snazi, odnosno u postupku donošenja na datum bilansa.

Odgođeni porez jest iznos za koji se očekuje da će po njemu nastati obaveza ili povrat temeljem razlike između

knjigovodstvene vrijednosti imovine i obaveza u finansijskim izvještajima i pripadajuće poreske osnovice koja se

koristi za izračunavanje oporezive dobiti a obračunava se metodom bilansne obaveze. Odgođene poreske obaveze

općenito se priznaju za sve oporezive privremene razlike, a odgođena poreska imovina se priznaje u onoj mjeri u

kojoj je vjerojatno da će biti raspoloživa oporeziva dobit na temelju koje je moguće iskoristiti privremene razlike koje

se odbijaju.

Knjigovodstveni iznos odgođene poreske imovine preispituje se na svaki datum bilanse i umanjuje u onoj mjeri u kojoj

više nije vjerojatno da će biti raspoloživ dostatan iznos oporezive dobiti za povrat cijelog ili dijela poreske imovine.

Odgođeni porez obračunava se po poreskim stopama za koje se očekuje da će biti u primjeni u periodu u kojem

će doći do podmirenja obaveze ili realizacije sredstva. Odgođeni porez knjiži se na teret ili u korist bilansa uspjeha,

osim ako se odnosi na stavke koje se knjiže direktno u korist ili na teret glavnice, u kojem slučaju se odgođeni porez

također iskazuje u okviru glavnice.

Odgođena poreska imovina i obaveze se prebijaju ako se odnose na poreze na dobit koje je nametnula ista poreska

vlast i ako Banka namjerava podmiriti svoju tekuću poresku imovinu i obaveze na neto osnovi.

Banka ima obavezu plaćanja raznih indirektnih poreza, koji su iskazani u okviru administrativnih troškova.

se diskontiranjem budućin novčanih tokova primjenom kamatnih stopa koje se trenutno primjenjuju na depozite sa

sličnim preostalim periodom do dospijeća.

102 www.raiffeisenbank.ba


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

Interest Income and Expense

Interest income and expense are recognized in the income statement for all interest bearing instruments on a time

proportion basis that takes into account the effective yield on the assets. Interest revenue includes the amount of

amortization of any discount, premium or other difference between the initial carrying amount of a debt security and

its amount at maturity including any material loan origination fees.

Interest charged on deposits is added to the principal where this is foreseen by the agreement. Interest income is

suspended when it is considered that recovery of the income is unlikely. Suspended interest is recognized as income

when collected.

Fee and commission income and expense

Fees and commissions consist mainly of fees earned on domestic and foreign payment transactions, and fees for

loans and other credit instruments issued by the Bank.

Fees for payment transactions are recognised in the period when services are rendered.

Loan origination fees, after approval and drawdown of loans, are deferred (together with related direct costs) and

recognized as an adjustment to the effective yield of the loan over its life (from 1 January 2005).

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax expense is based on taxable income for the year. Taxable income differs from net income as reported in the

income statement because it excludes items of income or expense that are taxable or deductible in other years and it

further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using

tax rates that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amount of assets

and liabilities in the financial statements and the corresponding tax basis used in the computation of taxable profit,

and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for

all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable

profits will be available against which deductible temporary differences can be utilised.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it

is no longer probable that sufficient taxable profit will be available to allow all or part of the asset to be recovered.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the

asset realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged

or credited directly to equity, in which case the deferred tax is also dealt with in equity.

Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same taxation authority

and the Bank has the ability and intention to settle on a net basis.

The Bank is subject to various indirect taxes which are included in administrative expenses.

Financial statement

www.raiffeisenbank.ba

103


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

Novac i novčani ekvivalenti

Za potrebe izvještavanja o novčanim tokovima, novac i novčani ekvivalenti obuhvaćaju sredstva kod Centralne banke

Bosne i Hercegovine (‘CBBH’) i stanja na žiro računima kod drugih banaka.

Novac i novčani ekvivalenti isključuju obaveznu minimalnu rezervu kod Centralne Banke, budući da sredstva obavezne

rezerve nisu na raspolaganju Banci u njenom svakodnevnom poslovanju. Obavezna minimalna rezerva kod CBBiH je

iznos koji su obavezne izdvajati sve poslovne banke koje imaju dozvolu za rad u Bosni i Hercegovini.

Finansijska imovina i finansijske obaveze

Finansijska imovina Banke razvrstana je u portfelje ovisno o namjeri Banke u trenutku sticanja finansijskog sredstva

i u skladu sa ulagačkom strategijom Banke. Temeljna razlika među pomenutim kategorijama je u pristupu mjerenja

finansijske imovine i priznavanja fer vrijednosti u finansijskim izvještajima.

Sva finansijska imovina i sve finansijske obaveze priznaju se, odnosno prestaju se priznavati na datum trgovanja kad

je kupoprodaja finansijskog sredstva ili finansijske obaveze definirana ugovorenim datumom isporuke finansijskog

sredstva u rokovima utvrđenima prema konvencijama na predmetnom tržištu.

Pri početnom priznavanju finansijskog sredstva ili finansijske obaveze Banka sredstvo, odnosno obavezu mjeri po fer

vrijednosti, koja se u slučaju finansijskog sredstva ili finansijske obaveze ne iskazuje po fer vrijednosti kroz bilans

uspjeha uvećava za troškove transakcije koji se mogu direktno pripisati sticanju, odnosno izdavanju finansijskog

sredstva, odnosno finansijske obaveze.

Dati krediti i potraživanja

Dati krediti i potraživanja su nederivacijska finansijska imovina s fiksnim ili odredivim plaćanjima koja ne kotira na

aktivnom tržištu.

Zajmovi i potraživanja mjere se početno po fer vrijednosti i kasnije po amortiziranom trošku primjenom metode

efektivne kamatne stope, umanjenom za ispravku vrijednosti zbog umanjenja. Troškovi prema trećim stranama,

kao što su tarife za osiguranje zajma, tretiraju se kao dio troška transakcije, kao i naknade klijenata. Naknade za

odobrenje zajmova odgađaju se, zajedno sa svim povezanim direktnim troškovima, i priznaju kao usklađivanje

efektivnog prinosa na kredit.

Ispravka vrijednosti zajmova zbog umanjenja knjiži se ako postoji objektivan dokaz da Banka neće biti u mogućnosti

naplatiti cijeli iznos potraživanja o dospijeću. Ispravka vrijednosti predstavlja razliku između knjigovodstvenog i

nadoknadivog iznosa, koji predstavlja sadašnju vrijednost očekivanih novčanih tokova, uključivši nadoknadive iznose

po garancijama i kolateralima, diskontiranih primjenom efektivne kamatne stope na zajam utvrđene pri početnom

priznavanju. Ispravka vrijednosti za gubitke od umanjenja po pojedinačnim zajmovima procjenjuje se temelju

kreditne sposobnosti i rezultata poslovanja zajmoprimatelja, uzimajući u obzir vrijednost instrumenta osiguranja za

naplatu zajma ili jamstvo treće strane.

Ako Banka utvrdi da ne postoji objektivan dokaz o umanjenju određenog finansijskog sredstva, bilo ono značajno

ili ne, spomenuto sredstvo svrstava u grupu finansijske imovine sličnih obilježja kreditnog rizika i sva sredstva u istoj

grupi podvrgava zajedničkoj procjeni u svrhu umanjenja vrijednosti. Imovina kod koje se umanjenje procjenjuje

pojedinačno i kod koje se gubici od umanjenja priznaju, odnosno nastavljaju priznavati, ne uključuje se u zajedničku

procjenu umanjenja vrijednosti.

104 www.raiffeisenbank.ba


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

Cash and cash equivalents

For the purpose of reporting cash flows, cash and cash equivalents are defined as cash, balances with the Central

Bank (‘CBBH’) and current accounts with other banks.

Cash and cash equivalents excludes the compulsory minimum reserve with the Central Bank as these funds are not

available for the Bank’s day to day operations. The compulsory minimum reserve with the CBBH is a required reserve

to be held by all commercial banks licensed in Bosnia and Herzegovina.

Financial assets and liabilities

Financial assets held by the Bank are categorised into portfolios in accordance with the Bank’s intent on the

acquisition and pursuant to the Bank’s investment strategy. The principal difference among the portfolios relates to

the measurement of financial assets and the recognition of their fair values in the financial statements.

All financial assets and liabilities are recognised and derecognised on a trade date basis where the purchase or sale

of financial asset or liability is under a contract whose terms require delivery of the financial asset within the timeframe

established by the market concerned.

When a financial asset or financial liability is recognised initially, the Banks measures it at its fair value plus, in the

case of a financial asset or financial liability not at fair value through profit or loss, transaction costs that are directly

attributable to the acquisition or issue of the financial asset or financial liability.

Loans and receivables

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted

in an active market.

Loan and receivables are measured at initial recognition at fair value, and are subsequently measured at amortised

cost using the effective interest method, less any allowance for impairment. Third party expenses, such as legal fees,

incurred in securing a loan are treated as part of the cost of the transaction as well as fees received from customers.

Loan origination fees are deferred (together with related direct costs) and recognized as an adjustment to the effective

yield of the loan.

An allowance for loan impairment is established if there is objective evidence that the Bank will not be able to collect

all amounts due. The amount of the allowance is the difference between the carrying amount and the recoverable

amount, being the present value of expected cash flows, including amounts recoverable from guarantees and

collateral, discounted at the original effective interest rate of loans computed at initial recognition. Specific allowances

are assessed with reference to the credit standing and performance of the borrower and take into account the value

of any collateral or third party guarantees.

If the Bank determines that no objective evidence of impairment exists for an individually assessed financial asset,

whether significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics

and collectively assesses them for impairment. Assets that are individually assessed for impairment and for which an

impairment loss is or continues to be recognised are not included in a collective assessment of impairment.

Financial statement

www.raiffeisenbank.ba

105


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

Finansijska imovina i finansijske obaveze (nastavak)

Objektivan dokaz o umanjenju finansijskog sredstva kod kojeg se procjena umanjenja obavlja zajednički može biti

negativna promjena u platnom statusu dužnika u istoj grupi (npr. veći broj dospjelih neizmirenih iznosa) ili promjene

u privrednim uslovima u zemlji ili mjestu poslovanja koji se mogu povezati s neurednošću plaćanja, odnosno

pogoršanjem imovine u toj grupi.

Nenaplativi zajmovi otpisuju se u iznosu povezane ispravke vrijednosti zbog umanjenja, a svi kasnije naplaćeni

iznosi knjiže se u korist bilansa uspjeha u okviru ispravke vrijednosti po zajmovima i avansima. Banka za kašnjenje u

plaćanju dužnicima zaračunava zateznu kamatu, koju obračunava na osnovu novčanih primitaka i iskazuje u okviru

prihoda od kamata.

Kupljeni krediti koji se drže do dospjeća

Kupljeni krediti koji se drže do dospijeća se sastoje od kreditnog portfolia kupljenog od USAID Business Finance

kako je objašnjeno u Napomeni 18. Banka ima namjeru i sposobnost da drži ovaj portfolio do dospjeća svakog

pojedinačnog kredita. Sredstva držana do dospijeća se priznaju po trošku i evidentiraju po amortizovanom trošku

upotrebljavajući metodu efektivne kamatne stope, umanjena za rezervisanja za moguće gubitke.

Nekretnine i oprema

Nekretnine i oprema početno se iskazuju po trošku nabavke umanjenom za ispravku vrijednosti i akumulirane gubitke

od umanjenja vrijednosti. Trošak nabavke obuhvata nabavnu cijenu i sve troškove direktno povezane s dovođenjem

sredstva u radno stanje za namjeravanu upotrebu. Troškovi tekućeg održavanja i popravaka, zamjene te investicijskog

održavanja manjeg obima priznaju se kao rashod kad su nastali. Troškovi značajnih investicijskih održavanja i

zamjene se kapitaliziraju. Dobici i gubici temeljem rashodovanja ili otuđenja dugotrajne materijalne imovine iskazuju

se u bilansu uspjeha u periodu u kojem su nastali.

Nekretnine u izgradnji iskazane su po trošku nabavke umanjenom za eventualne gubitke od umanjenja. Obračun

amortizacije započinje u trenutku u kojem je sredstvo spremno za namjeravanu upotrebu. Amortizacija se obračunava

na temelju procijenjenog vijeka upotrebe sredstva, koji je kako slijedi:

106 www.raiffeisenbank.ba

2005. 2004.

Zgrade 1,3% 1,3%

Namještaj i automobile 11%-15,5% 11%-15,5%

Računari 33,3% 33,3%

Ostala oprema 7%-20% 7%-20%

Nematerijalna imovina 20% 20%


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

Financial assets and liabilities (continued)

Objective evidence of impairment for financial assets assessed collectively for impairment are the adverse changes

in the payment status of borrowers in the group (e.g. an increased number of delayed payments) or national or local

economic conditions that correlate with defaults on the assets in the group.

When a loan is uncollectible, it is written off against the related allowance for impairment; subsequent recoveries are

credited to the ‘Impairment losses on loans and advances’ line in the income statement.

The Bank charges penalty interest to borrowers when a portion of the loan falls overdue. Penalty interest is accounted

for on a cash received basis in the caption ‘Interest income’.

Purchased loans held to maturity

Purchased loans held to maturity comprise the loan portfolio purchased from USAID Business Finance as described in

Note 18. The Bank has intention and ability to hold this portfolio till maturity of each loan. Assets held to maturity are

recognized at cost and carried at amortized cost using the effective yield method, less any provision for impairment.

Property and equipment

Property and equipment are started at cost less accumulated depreciation and accumulated impairment losses, if

any. Cost includes the purchase price and directly associated cost of bringing the asset to a working condition for

its intended use. Maintenance and repairs, replacements and improvements of minor importance are expensed as

incurred. Significant improvements and replacement of assets are capitalised. Gains or losses on the retirement or

disposal of property and equipment are included in the statement of income in the period in which they occur.

Properties in the course of construction are carried at cost, less impairment loss, if any. Depreciation commences when

the assets are ready for their intended use. Depreciation is calculated on a straight-line basis over the estimated useful

life of the applicable assets and based upon the application of the following annual percentages to historical costs:

2005 2004

Buildings 1.3% 1.3%

Furniture and vehicles 11%-15.5% 11%-15.5%

Computers 33.3% 33.3%

Other equipment 7%-20% 7%-20%

Intangible assets 20% 20%

Financial statement

www.raiffeisenbank.ba

107


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

Preračunavanje stranih valuta

Poslovni događaji koji nisu u konvertibilnim markama početno se knjiže preračunavanjem po važećem kursu na datum

transakcije. Monetarna imovina i obaveze iskazani u stranim valutama ponovno se preračunavaju na dan bilanse

primjenom kursa važećeg na taj datum. Nenovčane stavke u stranoj valuti iskazane po fer vrijednosti preračunavaju

se primjenom valutnog kursa važećeg na datum procjene fer vrijednosti. Nenovčane stavke u stranoj valuti iskazane

po historijskom trošku se ne preračunavaju ponovno na dan bilansa. Dobici i gubici nastali preračunavanjem

uključuju se u bilans uspjeha perioda.

Banka vrednuje svoju imovinu i obaveze prema srednjem kursu Centralne banke Bosne i Hercegovine koji je važeći

na dan bilansa stanja. Kursevi Centralne banke za najznačajnije valute koje je Banka primjenjivala u izradi bilansa

na izvještajne datume su kako slijedi:

31. decembar 2005. EUR 1= KM 1,95583 USD 1=KM 1,657905

31. decembar 2004. EUR 1= KM 1,95583 USD 1=KM 1,437687

Preuzete obaveze u vanbilansnoj evidenciji

U okviru redovnog poslovanja Banka preuzima obaveze za kreditiranjem, koje vodi u vanbilansnoj evidenciji a koje

prvenstveno obuhvaćaju garancije, akreditive i nepovučene odobrene kredite. Banka navedene preuzete finansijske

obaveze iskazuje u bilansu ako i kad iste postanu plative.

Rezervisanja

Banka priznaje rezerviranje ako ima sadašnju obavezu koja je nastala temeljem prošlih događaja, ako postoji

vjerovatnost da će za podmirenje obaveze biti potreban odliv resursa. Uprava Banke određuje iznos rezervirsanja na

temelju najbolje moguće procjene troškova koji će nastati podmirenjem obaveze. Ako je učinak materijalno značajan,

rezervisanja se diskontiraju do sadašnje vrijednosti.

Reklasifikacija

Određeni iznosi iz finansijskih izvještaja za prethodnu godinu reklasificirani su da bi bili u skladu sa prikazom tekuće

godine.

Regulatorno okružje

Banka podliježe regulativi Federalne bankarske agencije, kojom se propisuju limiti i druga ograničenja vezana

za minimalnu razinu adekvatnosti kapitala, klasifikaciju zajmova i vanbilansnih preuzetih obaveza te utvrđivanje

rezervisanja za kreditni rizik, kamatni rizik i valutni rizik, rizik likvidnosti i deviznu poziciju. Banka je na kraju godine

načelno udovoljavala svim regulatornim zahtjevima.

108 www.raiffeisenbank.ba


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

Foreign currency translation

Transactions in currencies other than Bosnia and Herzegovina KM are initially recorded at the rates of exchange

prevailing on the dates of the transactions. Monetary assets and liabilities are translated at the rates prevailing on

the balance sheet date. Non-monetary items carried at fair value that are denominated in foreign currencies are

retranslated at the rates prevailing on the date when the fair value was determined. Non-monetary items that are

measured in terms of historical cost in a foreign currency are not retranslated. Profits and losses arising on translation

are included in the statement of income for the period.

The Bank values its assets and liabilities by middle rate of Central Bank of Bosnia and Herzegovina valid at the date

of balance sheet. The principal rates of exchange set forth by the Central Bank and used in the preparation of the

Bank’s balance sheet at the reporting dates were as follows:

31 December 2005 EUR 1= KM 1.95583 USD 1=KM 1.657905

31 December 2004 EUR 1= KM 1.95583 USD 1=KM 1.437687

Off-balance sheet commitments

In the ordinary course of business, the Bank enters into credit related commitments which are recorded in off-balance

sheet accounts and primarily include guarantees, letters of credit and undrawn loan commitments. Such financial

commitments are recorded in the Bank’s balance sheet if and when they become payable.

Provisions

Provisions for are recognised when the Bank has a present obligation as a result of a past event, and it is probable

that the Bank will be required to settle that obligation. Management Board estimates the provisions based at the best

estimate of expenditure to settle the Bank’s obligation. Provisions are discounted to present value where the effect is

material.

Reclassification

Certain amounts in the previous year financial statements have been reclassified to conform with the current year

presentation.

Regulatory requirements

The Bank is subject to the regulatory requirements of the Federal Banking Agency. These regulations include limits

and other restrictions pertaining to minimum capital adequacy requirements, classification of loans and off balance

sheet commitments and forming allowances to cover credit risk, liquidity, interest rate and foreign currency position.

At year end the Bank was substantially in compliance with all regulatory requirements.

Financial statement

www.raiffeisenbank.ba

109


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

3. PRIHODI OD KAMATA

110 www.raiffeisenbank.ba

2005. 2004.

Stanovništvo 67.468 55.989

Preduzeća 47.305 36.450

Strane banke 14.083 9.412

Domaće banke 109 69

Amortizacija diskonta 1.143 1.686

Ostalo 5.557 2.898

Ukupno 135.665 106.504

4. RASHODI OD KAMATA

2005. 2004.

Stanovništvo 19.639 15.898

Preduzeća 10.610 7.267

Strane banke 16.396 9.904

Domaće banke 4.767 4.839

Ostalo 196 254

Ukupno 51.608 38.162

5. PRIHODI OD NAKNADA I PROVIZIJA

2005. 2004.

Unutrašnji platni promet 18.580 21.741

Transakcije sa stanovništvom 8.036 8.557

Krediti i garancije 3.623 3.553

Konverzije stranih valuta 2.315 2.373

Ostalo 997 176

Ukupno 33.551 36.400


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

3. INTEREST INCOME

2005 2004

Citizens 67,468 55,989

Companies 47,305 36,450

Foreign Banks 14,083 9,412

Domestic Banks 109 69

Amortization of discount 1,143 1,686

Other 5,557 2,898

Total 135,665 106,504

4. INTEREST EXPENSE

2005 2004

Citizens 19,639 15,898

Companies 10,610 7,267

Foreign Banks 16,396 9,904

Domestic Banks 4,767 4,839

Other 196 254

Total 51,608 38,162

5. FEE AND COMMISSION INCOME

2005. 2004.

Domestic payment transactions 18.580 21.741

Transactions with citizens 8.036 8.557

Loans and guarantees 3.623 3.553

FX transactions 2.315 2.373

Other 997 176

Total 33.551 36.400

Financial statement

www.raiffeisenbank.ba

111


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

6. RASHODI OD NAKNADA I PROVIZIJA

112 www.raiffeisenbank.ba

2005 2004

Unutrašnji platni promet 473 599

Korespondentni računi 146 209

Uzeti krediti i ostale bankarske usluge 2,802 4,249

Ukupno 3,421 5,057

7. NETO DOBIT IZ FINANSIJSKOG POSLOVANJA

2005. 2004.

Prihodi od kursnih razlika iz poslovanja 6.317 5.625

Rashodi od kursnih razlika iz poslovanja (506) (487)

Ukupno 5.811 5.138

8. OSTALI PRIHODI IZ POSLOVANJA

2005. 2004.

Prihodi od kamata iz ranijeg perioda 3 1.809

Ostali prihod 640 551

Ukupno 643 2.360

9. NETO PRIHOD OD PRODAJE ULAGANJA

2005. 2004.

Prodaja dionica Raiffeisen osiguranja d.d Sarajevo 3.471 -

Prodaja dionica Euromarket banke AD Podgorica 467 -

Ukupno 3.938 -

Tokom 2005. godine, Banka je prodala svih 6.690 dionica Raiffeisen osiguranja d.d. Sarajevo UNIQA-i International

Beteiligungs-Verwaltungus GmbH. Neto prihod od prodaje naprijed navedenih dionica bio je 3.471 hiljada KM. Osim

toga, 26. aprila 2005. godine Banka je prodala svih 600 dionica Euromarket banke AD Podgorica Novoj Ljubljanskoj

banci d.d. Ljubljana. Neto prihod od prodaje naprijed navedenih dionica bio je 467 hiljada KM. Prodajom kapitalnih

ulaganja Banka je naplatila 7.462 hiljade KM u punom iznosu.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

6. FEE AND COMMISSION EXPENSE

2005 2004

Domestic payment transactions 473 599

Correspondent accounts 146 209

Borrowed funds and other bank services 2,802 4,249

Total 3,421 5,057

7. NET TRADING INCOME

2005 2004

Gains on foreign exchange transactions 6,317 5,625

Losses on foreign exchange transactions (506) (487)

Total 5,811 5,138

8. OTHER OPERATING INCOME

2005 2004

Interest income from previous period 3 1,809

Other income 640 551

Total 643 2,360

9. NET INCOME UPON DISPOSAL OF INVESTMENTS

2005 2004

Sale of shares in Raiffeisen osiguranje d.d Sarajevo 3,471 -

Sale of shares in Euromarket banka AD Podgorica 467 -

Total 3,938 -

During 2005 the Bank has sold all 6,690 shares of Raiffeisen osiguranje d.d. Sarajevo to UNIQA International Beteiligungs-Verwaltungus

GmbH. Net income earned from sale of above-mentioned shares was KM 3,471 thousand. Additionally,

on 26 April 2005 the Bank has sold all 600 shares of Euromarket banka AD Podgorica to Nova Ljubljanska

banka d.d. Ljubljana. Net income earned from sale of above-mentioned shares was KM 467 thousand. Proceeds from

both transactions in total amount of KM 7,462 thousand have been collected in full amount.

Financial statement

www.raiffeisenbank.ba

113


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

10. NAPLAĆENA OTPISANA POTRAŽIVANJA

114 www.raiffeisenbank.ba

2005. 2004.

Glavnica 3.778 4.401

Kamata 2.084 1.645

Naknade 65 99

Ukupno 5.927 6.145

11. ADMINISTRATIVNI TROŠKOVI

2005. 2004.

Troškovi zaposlenih 37.551 32.636

Troškovi usluga 5.472 5.839

Zakupnine 4.832 4.016

Telekomunikacije 3.131 2.852

Premije osiguranja štednih uloga i kredita 3.625 2.938

Troškovi reprezentacije i marketinga 3.037 2.436

Troškovi tekućeg održavanja 2.477 2.096

Materijalni troškovi 2.034 1.629

Premije osiguranja imovine 3.029 2.601

Troškovi energije 643 592

Troškovi konsultanskih usluga 4.823 511

Rashodi po osnovu obračunatih kursnih razlika 272 542

Obrazovanje 377 400

Donacije 408 294

Rashodi osnovnih sredstava 237 190

Ostali administrativni troškovi 3.085 4.896

Ukupno 75.033 64.468

Banka nema druge penzione aranžmane osim državnog penzionog sistema Bosne i Hercegovine. Prema sistemu,

poslodavac je dužan obračunati tekuće doprinose u procentu od bruto plaća i porez na neto plaće, a troškovi

terete bilans uspjeha u periodu u kojem su nastali. Banka nema nikakvih obaveza isplate penzija zaposlenima u

budućnosti.

Prosječan broj zaposlenih u Banci za godine koje su završile na dan 31. decembra 2005. i 2004. bio je 1.161,

odnosno 1.061.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

10. COLLECTED WRITE-OFFS

2005 2004

Principal 3,778 4,401

Interest 2,084 1,645

Fees 65 99

Total 5,927 6,145

11. GENERAL AND ADMINISTRATIVE EXPENSES

2005 2004

Personnel expenses 37,551 32,636

Services 5,472 5,839

Rent 4,832 4,016

Telecommunication expense 3,131 2,852

Deposits insurance premiums 3,625 2,938

Representation and marketing expense 3,037 2,436

Current repairs 2,477 2,096

Material expenses 2,034 1,629

Assets insurance premiums 3,029 2,601

Energy 643 592

Consultancy expenses 4,823 511

Foreign exchange losses 272 542

Education 377 400

Donations 408 294

Disposals of fixed assets 237 190

Other expenses 3,085 4,896

Total 75,033 64,468

The Bank does not have pension arrangements separate from Bosnia and Herzegovina pension system. This system

requires that current contributions by the employer be calculated as a percentage of current gross salary payments

and taxes on net salary; these expenses are charged to the profit and loss statement in the period the related compensation

is earned by the employee.

The average number of personnel employed by the Bank during the years ended 31 December 2005 and 2004 was

1,161 and 1,061, respectively.

Financial statement

www.raiffeisenbank.ba

115


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

12. UMANJENJA VRIJEDNOSTI I REZERVISANJA

116 www.raiffeisenbank.ba

2005. 2004.

Plasmani kod drugih banaka (3) 16

Dati krediti i potraživanja 20.122 18.743

Kupljeni krediti držani do dospijeća (132) 608

Materijalna sredstva (38) 1.068

Kapitalna ulaganja (388) (1.173)

Ostale aktiva 113 96

Rezervisanja 6.216 3.144

Ukupno 25.890 22.502

13. POREZ NA DOBIT

2005. 2004.

Dobit prije poreza na dobit 24.229 21.146

Porezno nepriznati rashodi i

prihodi koji se ne oporezuju

9.392 3.778

Porezna osnovica 33.621 24.924

Obaveza poreza na dobit od 30% 10.086 7.477

Porezna oslobođenja (10.086) (7.477)

Obaveza poreza na dobit - -

Porezna obaveza Banke izračunava se na temelju računovodstvene dobiti, uzimajući u obzir porezno nepriznate

troškove i neoporezive prihode. Stopa poreza na dobit za godine koje su završile 31. decembra 2005. i 2004. bila

je 30%. U skladu sa fiskalnim propisima porezno oslobođenje od poreza na dobit je zasnovano na planiranim

ulaganjima u stalna sredstva u narednoj godini. Porezna oslobođenja na ulaganja u materijalnu imovinu su

kontinuirana.

14. NOVAC I SREDSTVA KOD BANKE

2005. 2004.

Novac u blagajni u domaćoj valuti 27.597 17.923

Novac u blagajni u stranoj valuti 17.055 19.639

Žiro račun u domaćoj valuti kod Centralne banke 29.048 101.102

Potraživanja od banaka u stranoj valuti 16.328 10.262

Čekovi u stranoj valuti 92 85

Ukupno 90.120 149.011


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

12. IMPAIRMENT LOSSES AND PROVISIONS

2005 2004

Placements with banks (3) 16

Loans and receivables 20,122 18,743

Purchased loans (132) 608

Fixed assets (38) 1,068

Equity investments (388) (1,173)

Other assets 113 96

Provisions 6,216 3,144

Total 25,890 22,502

13. INCOME TAX

2005 2004

Profit before income tax 24,229 21,146

Non-deductible expenses and

taxable income relieves

9,392 3,778

Taxable income 33,621 24,924

Income tax liability of 30% 10,086 7,477

Income tax exemption (10,086) (7,477)

Income tax liability - -

Tax liability is based on accounting income taking into the account non-deductible expenses and non-taxable income.

Tax income rate for the years ended 31 December 2005 and 2004 was 30%. According to the fiscal legislation, the

Bank’s exemption from income tax is based on planned investments in fixed assets in the next year. Income tax exemp-

tions for investments in fixed assets are available on continuous basis.

14. CASH AND DUE FROM BANKS

2005 2004

Cash on hand in domestic currency 27,597 17,923

Cash on hand in foreign currency 17,055 19,639

Current account in domestic currency with the Cen-

tral Bank 29,048 101,102

Correspondent accounts with banks in foreign cur-

rency 16,328 10,262

Checks in foreign currency 92 85

Total 90,120 149,011

Financial statement

www.raiffeisenbank.ba

117


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

15. OBAVEZNA REZERVA KOD CENTRALNE BANKE

118 www.raiffeisenbank.ba

2005. 2004.

Obavezna rezerva 338.183 182.955

Ukupno 338.183 182.955

Obavezna rezerva se izračunava na dan 31. decembra 2005. godine odnosno 31. decembra 2004. godine u

visini od 15% odnosno 10% prosječnog iznosa ukupnih depozita i pozajmljenih sredstava u posljednjih deset dana

obračuna obavezne rezerva.

16. PLASMANI KOD DRUGIH BANAKA

Kratkoročni plasmani kod

banaka u slijedećim zemljama:

2005. 2004.

Bosna i Hercegovina 3.024 3.024

Zemlje OECD-a 649.318 579.892

Ukupan bruto iznos plasmana

drugim kreditnim institucijama 652.342 582.916

Umanjeno za rezervisanja za moguće gubitke (13) (16)

Ukupno 652.329 582.900

Kamatna stopa na plasmane u EUR iznosila je 2,33% - 2,40% godišnje odnosno 2,00% - 2,18% godišnje, a na

plasmane u USD od 3,07% - 4,37% godišnje odnosno 1,72% - 2,48% godišnje na dan 31. decembra 2005. godine

odnosno 2004. godine. Kamatna stopa na plasmane u ostalim valutama kretala se od 0,75% - 5,45% godišnje

odnosno 0,65% - 5,22% godišnje tokom 2005. i 2004. godine.

Promjene na rezervisanjima za moguće gubitke po plasmanima kod drugih banaka mogu se prikazati kako slijedi:

2005. 2004.

Stanje na dan 1. januara 16 -

Rezervisanja (3) 16

Stanje na dan 31. decembra 13 16


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

15. OBLIGATORY RESERVE AT CENTRAL BANK

2005 2004

Obligatory reserve 338,183 182,955

Total 338,183 182,955

Minimum obligatory reserve as of 31 December 2005 and 31 December 2004 is calculated in amount of 15%

and 10%, respectively of the average amount of total deposits and the borrowings for each working day during

10 calendar days following the period of maintaining the obligatory reserve.

16. PLACEMENTS WITH OTHER BANKS

Short-term placements with

banks in following countries

2005 2004

Bosnia and Herzegovina 3,024 3,024

OECD countries 649,318 579,892

Placements to other financial institutions, gross 652,342 582,916

Less: Provisions for possible losses for placements (13) (16)

Total 652,329 582,900

The interest rate for placements in EUR was 2.33% – 2.40% p.a. and 2.00% – 2.18% p.a. and for placements

in USD 3.07% – 4.37% p.a. and 1.72% – 2.48% p.a. as at 31 December 2005 and 2004, respectively. Interest

rate on placements in other currencies was 0.75% – 5.45% p.a. and 0.65% – 5.22% p.a. during 2005 and 2004,

respectively.

The movements in the provision for impairment of placements with other banks are summarized as follows:

2005 2004

Balance as at 1 January 16 -

Provisions (3) 16

Balance as at 31 December 13 16

Financial statement

www.raiffeisenbank.ba

119


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

17. DATI KREDITI I POTRAŽIVANJA

120 www.raiffeisenbank.ba

2005. 2004.

Kratkoročni krediti u domaćoj valuti 321.341 301.954

Kratkoročni krediti u stranoj valuti 2.591 2.166

Tekuće dospijeće dugoročnih kredita 301.807 235.794

Ukupno kratkoročni krediti 625.739 539.914

Dugoročni krediti u domaćoj valuti 1.034.394 778.595

Dugoročni krediti u stranoj valuti 37.442 25.869

(Tekuće dospijeće dugoročnih kredita) (301.807) (235.794)

Ukupno dugoročni krediti 770.029 568.670

Ukupno krediti prije rezervisanja za moguće gubitke 1.395.768 1.108.584

Rezervisanja za moguće gubitke (63.770) (50.848)

Ukupno 1.331.998 1.057.736

Svi krediti odobreni su komitentima u Bosni i Hercegovini. Kratkoročni krediti odobreni su na period od 90 do 365

dana. Većina kratkoročnih kredita odobrena je komitentima za obrtna sredstva. Dugoročni krediti odobravani su

uglavnom stanovništvu za stambenu izgradnju i kupovinu automobila.

Promjene na rezervisanjima za moguće gubitke po kreditima dajemo kako slijedi:

2005. 2004.

Stanje na dan 1. januara 50.848 38.265

Povećanje rezervisanja 20.122 18.743

Otpisi (7.200) (6.160)

Stanje na dan 31. decembra 63.770 50.848

Ukupan iznos glavnice po kojoj je suspendovana kamata na dan 31. decembra 2005. i 2004. godine iznosio je

40.268 hiljade KM odnosno 39.007 hiljada KM.

2005. 2004.

Trgovina 327.997 245.689

Građevinska industrija 22.767 24.757

Usluge, finansije, sport, turizam 76.434 75.873

Administrativne i druge javne ustanove 4.209 2.887

Poljoprivreda, šumarstvo, rudarstvo i energetika 59.177 109.355

Transport, PTT, komunikacije 64.116 35.314

Ostalo 86.004 10.816

Stanovništvo 755.064 603.893

Ukupno 1.395.768 1.108.584


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

17. LOANS AND RECEIVABLES

2005 2004

Short-term loans in domestic currency 321,341 301,954

Short-term loans in foreign currency 2,591 2,166

Current portion of long-term loans 301,807 235,794

Total short-term loans 625,739 539,914

Long-term loans in domestic currency 1,034,394 778,595

Long-term loans in foreign currency 37,442 25,869

(Current portion of long-term loans) (301,807) (235,794)

Total long-term loans 770,029 568,670

Total loans before provisions 1,395,768 1,108,584

Provision for impairment (63,770) (50,848)

Total 1,331,998 1,057,736

All loans are placed with customers in Bosnia and Herzegovina. Short-term loans are granted for periods of 30 to

365 days. The majority of short-term loans in domestic currency are granted to clients for working capital financing.

Long-term loans are mostly granted to individuals for housing and vehicle purchases.

The movements in the provision for impairment of loans are summarized as follows:

2005 2004

Balance as at 1 January 50,848 38,265

Provisions charged 20,122 18,743

Write-offs (7,200) (6,160)

Balance as at 31 December 63,770 50,848

Total amount of non-performing loans on which interest was suspended as at 31 December 2005 and 2004 was KM

40,268 thousand and KM 39,007 thousand, respectively.

2005 2004

Trade 327,997 245,689

Construction industry 22,767 24,757

Services, finance, sport, tourism 76,434 75,873

Administrative and other public institutions 4,209 2,887

Agriculture, forestry, mining and energy 59,177 109,355

Transport and telecommunications 64,116 35,314

Other 86,004 10,816

Citizens 755,064 603,893

Total 1,395,768 1,108,584

Financial statement

www.raiffeisenbank.ba

121


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

17. KREDITI IZ SREDSTAVA BANKE (NASTAVAK)

Kamatne stope po kreditima na dan 31. decembra 2005. i 2004. mogu se prikazati kako slijedi:

Domaća valuta

122 www.raiffeisenbank.ba

31. decembar 2005. 31. decembra 2004.

‘000 KM Godišnja kamatna stopa ‘000 KM Godišnja kamatna stopa

Preduzeća 616.622 3.5% - 14% 499.365 3.5% - 14%

Stanovništvo 741.491 3.6% - 11.29% 592.970 3.61% - 16%

Strana valuta

Preduzeća 24.082 6.21% - 12% 5.326 6.21% - 12%

Stanovništvo 13.573 6.55% - 12% 10.923 6.55% - 12%

Ukupno 1.395.768 1.108.584

18. KUPLJENI KREDITI KOJI SE DRŽE DO DOSPIJEĆA

2005. 2004.

Neotplaćeni dio glavnice 2.378 5.730

Neamortizovani diskont (1.661) (3.143)

Rezervisanje za moguće gubitke (670) (1.451)

Ukupno 47 1.136

Banka je sklopila dva kupoprodajna ugovora sa USAID Business Finance koji su realizovani 30. aprila i 12. novembra

2003. godine. Ovi krediti su dati malim i srednjim preduzećima sa promjenljivim kamatnim stopama.

Kretanja diskonta se mogu prikazati kako slijedi:

2005. 2004.

Stanje na dan 1. januara 3.143 4.829

Amortizovani diskont (1.143) (1.686)

Otpisi (339) -

Neamortizovani diskont na dan 31. decembra 1.661 3.143


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

17. LOANS AND RECEIVABLES (CONTINUED)

Interest rates for granted loans as at 31 December 2005 and 2004 are summarized as follows:

Domestic currency

31 December 2005 31 December 2004

‘000 KM Annual

interest rate

‘000 KM Annual interest rate

Companies 616,622 3.5% - 14% 499,365 3.5% - 14%

Citizens 741,491 3.6% - 11.29% 592,970 3.61% - 16%

Foreign currency

Companies 24,082 6.21% - 12% 5,326 6.21% - 12%

Citizens 13,573 6.55% - 12% 10,923 6.55% - 12%

Total 1,395,768 1,108,584

18. PURCHASED LOANS HELD TO MATURITY

2005 2004

Principal amount outstanding 2,378 5,730

Unamortized discount (1,661) (3,143)

Provision for impairment (670) (1,451)

Total 47 1,136

The Bank entered into two Master Loan Sale Agreements with USAID Business Finance, effective 30 April 2003

and 12 November 2003. These loans were granted to small and medium-sized enterprises and entrepreneurs,

with variable interest rates.

The movements in discount are summarized as follows:

2005 2004

Opening balance 3,143 4,829

Amortized discount (1,143) (1,686)

Write-offs (339) -

Unamortized discount as at

31 December 1,661 3,143

Financial statement

www.raiffeisenbank.ba

123


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

18. KUPLJENI KREDITI KOJI SE DRŽE DO DOSPIJEĆA (NASTAVAK)

Kretanja na rezervisanjima za moguće gubitke po kupljenim kreditima se mogu prikazati kako slijedi:

124 www.raiffeisenbank.ba

2005. 2004.

Stanje na dan 1. januara 1.451 1.961

Povećanje rezervisanja - 608

Smanjenje rezervisanja (132) -

Otpisi (649) (1.118)

Stanje na dan 31. decembra 670 1.451

19. KAPITALNA ULAGANJA

Ulaganja u podružnice:

2005. 2004.

Raiffeisen osiguranje d.d., Sarajevo - 2.923

MI Group d.o.o., Sarajevo 1.610 1.610

Raiffeisen brokers d.o.o.,Sarajevo 507 200

Manjinski interes:

Euromarket bank, Podgorica - 600

PIF MI Group d.d. Sarajevo 533 100

Ostalo 22 22

Ukupno ulaganja 2.672 5.455

Rezervisanja za moguće gubitke (188) (576)

Ukupno 2.484 4.879

Tokom 2005, Banka je prodala svih 6.690 dionica Raiffeisen osiguranja d.d. Sarajevo UNIQA-i International

Beteiligungs-Verwaltungus GmbH. Neto prihod od prodaje naprijed navedenih dionica bio je 3.471 hiljada KM.

Osim toga, 26. Aprila 2005. godine Banka je prodala svih 600 dionica Euromarket banke AD Podgorica Novoj

Ljubljanskoj banci d.d. Ljubljana. Neto prihod od prodaje naprijed navedenih dionica bio je 467 hiljada KM.

Ukupni prihodi od ovih transakcija je 7.462 hiljade KM naplaćeni su u punom iznosu.

Promjena na rezervisanjima za moguće gubitke po ulaganjima mogu se prikazati kako slijedi:

2005. 2004.

Stanje na dan 1. januara 576 1.749

Povećanje rezervisanja 95 476

Smanjenje rezervisanja (483) (1.649)

Stanje na dan 31. decembra 188 576


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

18. PURCHASED LOANS HELD TO MATURITY (CONTINUED)

The movements in provision for impairment of purchased loans are summarized as follows:

2005 2004

Balance as at 1 January 1,451 1,961

Provisions charged - 608

Reversal of provisions (132) -

Write – offs (649) (1,118)

Balance as at 31 December 670 1,451

19. EQUITY INVESTMENTS

Investments in subsidiaries:

2005 2004

Raiffeisen osiguranje d.d., Sarajevo - 2,923

MI Group d.o.o., Sarajevo 1,610 1,610

Raiffeisen brokers d.o.o.,Sarajevo 507 200

Investments in minority interest:

Euromarket bank, Podgorica - 600

PIF MI Group d.d. Sarajevo 533 100

Others 22 22

Total investments 2,672 5,455

Provision for impairment (188) (576)

Total 2,484 4,879

During 2005 the Bank has sold all 6,690 shares of Raiffeisen osiguranje d.d. Sarajevo to UNIQA International

Beteiligungs-Verwaltungus GmbH. Net income earned from sale of above-mentioned shares was KM 3,471

thousand. Additionally, on 26 April 2005 the Bank has sold all 600 shares of Euromarket banka AD Podgorica

to Nova Ljubljanska banka d.d. Ljubljana. Net income earned from sale of above-mentioned shares was KM 467

thousand. Proceeds from both transactions in total amount of KM 7,462 thousand have been collected in full amount.

The movements in the provision for impairment of investments are summarized as follows:

2005 2004

Balance as at 1 January 576 1,749

Provisions charged 95 476

Reversal of provisions (483) (1,649)

Balance as at 31 December 188 576

Financial statement

www.raiffeisenbank.ba

125


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

19. KAPITALNA ULAGANJA (NASTAVAK)

Struktura ulaganja prema djelatnosti i zemlji poslovanja dana je kako slijedi:

Preduzeće Djelatnost % vlasništva Zemlja poslovanja

MI Group d.o.o., Sarajevo Investicioni fond 100,00% Bosna i Hercegovina

Raiffeisen Brokers d.o.o., Sarajevo

126 www.raiffeisenbank.ba

Društvo za poslovanje

vrijednosnim papirima 100,00% Bosna i Hercegovina

Bamcard d.o.o Sarajevo Bankarstvo 0,12% Bosna i Hercegovina

Bosna osiguranje d.d. Sarajevo Osiguranje 0,03% Bosna i Hercegovina

Integra BiH Građevinarstvo 3,62% Bosna i Hercegovina

SWIFT Bankarstvo 0,01% Belgija

20. OSTALA IMOVINA

2005. 2004.

Potrazivanja po osnovu spot

transakcija i arbitraža u stranoj valuti 13.812 9.657

Preplata poreza 9.540 8.177

Dati avansi za materijalnu imovinu 2.663 367

Unaprijed plaćeni troškovi 2.596 1.987

Potraživanja za naknade 1.580 1.498

Ostala imovina 6.738 5.834

Ukupno ostala imovina 36.929 27.520

Rezervisanja za moguće gubitke (707) (613)

Ukupno 36.222 26.907

Promjene na rezervisanjima za moguće gubitke po ostaloj aktivi mogu se prikazati kako slijedi:

2005. 2004.

Stanje na dan 1. januara 613 990

Prijenos na dugotrajnu imovinu - (89)

Povećanje rezervisanja 113 96

Otpisi (19) (384)

Stanje na dan 31. decembra 707 613


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

19. EQUITY INVESTMENTS (CONTINUED)

Structure of investments by industry and country of origin as of 31 December 2005 can be summarized as follows:

Company Industry % Held Country of origin

MI Group d.o.o., Sarajevo Investment fund 100.00% Bosnia and Herzegovina

Raiffeisen Brokers d.o.o., Sarajevo Trading with securities 100.00% Bosnia and Herzegovina

Bamcard d.o.o Sarajevo Banking cards 0.12% Bosnia and Herzegovina

Bosna osiguranje d.d. Sarajevo Insurance 0.03% Bosnia and Herzegovina

Integra BiH Construction 3.62% Bosnia and Herzegovina

SWIFT Banking communication 0.01% Belgium

20. OTHER ASSETS

2005 2004

Receivable from spot FX transactions 13,812 9,657

Prepaid taxes 9,540 8,177

Advances for fixed assets 2,663 367

Prepaid expenses 2,596 1,987

Fees receivable 1,580 1,498

Other assets 6,738 5,834

Total other assets 36,929 27,520

Provision for impairment (707) (613)

Total 36,222 26,907

The movements in the provision for impairment of other assets are summarized as follows:

2005 2004

Balance as at 1 January 613 990

Transfer to fixed assets - (89)

Provisions charged 113 96

Write-offs (19) (384)

Balance as at 31 December 707 613

Financial statement

www.raiffeisenbank.ba

127


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

21. NEKRETNINE I POSTROJENJA

Nabavna vrijednost

128 www.raiffeisenbank.ba

Građevine

i zemljište

‘000 KM

Vozila

‘000 KM

Uredska

oprema

‘000 KM

Investicije

u

toku

‘000 KM

Nematerijalna

imovina

‘000 KM

Ukupno

‘000 KM

31. decembar 2004. 16.995 1.726 21.417 4.621 9.258 54.017

Nabavke - - - 13.789 - 13.789

Prijenos sa/na 5.169 677 4.928 (11.113) 339 -

Prijenos na vanbilans (2.306) - - - - (2.306)

Poravnanje sa početnim stanjem (394) - - 394 - -

Otuđenja (235) (164) (1.226) (292) (34) (1.951)

31. decembar 2005. 19.229 2.239 25.119 7.399 9.563 63.549

Amortizacija

31 Decembar 2004. 582 480 9.928 - 5.789 16.779

Amortizacija za 2005. 216 300 3.430 - 1.408 5.354

Otuđenja (5) (85) (975) - (32) (1.097)

31. decembar 2005. 793 695 12.383 - 7.165 21.036

Sadašnja vrijednost:

31. decembar 2005.,

prije rezervisanja za gubitke 18.436 1.544 12.736 7.399 2.398 42.513

Rezervisanja za gubitke

31. decembar 2004. - - 322 2.445 - 2.767

- Povećanje rezervisanja - - 190 461 - 651

- Smanjenje rezervisanja - - - - - -

- Otpisi - - (89) (600) - (689)

- 31. decembar 2005. - - - (2.306) - 2.306

- - 423 - 423

Sadašnja vrijednost:

31. decembar 2005. 18.436 1.544 12.313 7.399 2.398 42.090

Sadašnja vrijednost:

31. decembar 2004. 16.413 1.246 11.167 2.176 3.469 34.471

Na dan 31. decembra 2004. godine u iznosu ukupnih investicija u toku sadržan je iznos od 2.862 hiljada KM koji

se odnosi na početna investiranja u izgradnju poslovne zgrade Banke u Sarajevu. Navedena izgradnja prekinuta

je 2002. godine po nalogu lokalnih vlasti i nakon toga nije nastavljena. Na dan 31. decembra 2002. godine.

Banka je smanjila bruto knjigovodstvenu vrijednost spomenute investicije za 1.431 hiljadu KM, što je prikazano kao

rezervisanje za moguće gubitke. Na dan 31. decembra 2004. godine Banka je napravila dodatna rezervisanja u

iznosu od 1.014 hiljada KM što je ukupno 2.445 hiljade KM. Na dan 31. decembra 2005. godine, naprijed navedena

zgrada je otpisana u iznosu od 2.306 hiljada KM. Nadalje, u januaru 2005. godine, sudski vještak je procijenio

zemljište ispod navedene zgrade u iznosu od 750 hiljada KM i izvršen je prijenos sa investicija u toku na građevine

i zemljište.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

21. PROPERTY AND EQUIPMENT

Cost value

Land and

Buildings

‘000 KM

Vehicles

‘000 KM

Office

equipment

‘000 KM

Construction

in

progress

‘000 KM

Intangible

fixed

assets

‘000 KM

Total

‘000

KM

31 December 2004 16,995 1,726 21,417 4,621 9,258 54,017

Additions - - - 13,789 - 13,789

Transfers from/to 5,169 677 4,928 (11,113) 339 -

Transfer to off-balance (2,306) - - - - (2,306)

Reconciliation with

opening balance (394) - - 394 - -

Disposals (235) (164) (1,226) (292) (34) (1,951)

31 December 2005 19,229 2,239 25,119 7,399 9,563 63,549

Depreciation

31 December 2004 582 480 9,928 - 5,789 16,779

Depreciation in 2005 216 300 3,43 - 1,408 5,354

Disposals (5) (85) (975) - (32) (1,097)

31 December 2005 793 695 12,383 - 7,165 21,036

Net book value:

31 December 2005,

before provision for impairment 18,436 1,544 12,736 7,399 2,398 42,513

Provision for impairment

31 December 2004 - - 322 2,445 - 2,767

- Provisions charged - - 190 461 - 651

- Reversal of provisions - - - - - -

- Write-offs - - (89) (600) - (689)

- 31 December 2005 - - - (2,306) - (2,306)

- - 423 - - 423

Net book value:

31 December 2005 18,436 1,544 12,313 7,399 2,398 42,090

Net book value:

31 December 2004 16,413 1,246 11,167 2,176 3,469 34,471

The total construction-in-progress as of 31 December 2004 included KM 2,862 thousand, which related to the

construction-in-progress of the Banks’ building in Sarajevo. Construction was halted in 2002 at the order of local

municipality and has not been resumed. At December 31, 2002, the Bank decreased gross book value of the

mentioned investment by KM 1,431 thousand, which was shown as a provision for impairment. At December 31,

2004, the Bank has made additional provision for impairment of this investment in amount of KM 1,014 thousand,

which in total amounts to KM 2,445 thousands. As of 31 December 2005 the above-mentioned building was

written off in the total amount of KM 2,306 thousand. Furthermore, the court appraiser has appraised the land

that corresponds to this building in January 2005 for the amount of KM 750 thousand and it was transferred from

investments in progress and recorded under land and buildings.

Financial statement

www.raiffeisenbank.ba

129


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

22. OBAVEZE PREMA DRUGIM BANKAMA

130 www.raiffeisenbank.ba

2005. 2004.

Tekuće dospjeće dugoročnih kredita 114.662 96.626

Dugoročni krediti od stranih banaka 558.489 365.881

Dugoročni krediti od domaćih banaka 2.598 3.632

(Tekuće dospjeće dugoročnih obaveza po kreditima) (114.662) (96.626)

Ukupno dugoročne obaveze po kreditima 446.425 272.887

Tekući računi banaka u domaćoj valuti 71 25

Tekući računi banaka u stranoj valuti 233 197

Ukupno tekući računi 304 222

Kratkoročni depoziti banaka u domaćoj valuti 9.806 874

Kratkoročni depoziti banaka u stranoj valuti 20.640 2.274

Ukupno kratkoročni depoziti 30.446 3.148

Dugoročni depoziti 1.638 62.748

Ukupno 593.475 435.631

Struktura dugoročnih kredita od ino banaka i nebankarskih kreditnih institucija na dan 31. decembra 2005. i

2004. godine je slijedeća:

2005. 2004.

RZB Wien and Raiffeisenlandenbank Karnten 403.010 214.815

Commercbank AG 2.445 3.667

EBRD 55.837 98.483

IFC 45.898 26.007

Kreditanstalt fuer Wiederaufbau 22.400 22.909

OPEC Fund International Development 19.558 -

Oberbank AG 5.868 -

European Investment Bank 3.473 -

Ukupno

558.489

365.881

Kamatna stopa na primljene dugoročne kredite od banaka je po stopi od 2,5% do 5% godišnje odnosno 2% do

6,55% godišnje na dan 31. decembra 2005. i 2004. godine.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

22. AMOUNTS DUE TO BANKS

2005 2004

Current portion of long-term borrowings 114,662 96,626

Long-term borrowings from foreign banks 558,489 365,881

Long-term borrowings from domestic banks 2,598 3,632

(Current portion of long-term borrowings) (114,662) (96,626)

Total long-term borrowings 446,425 272,887

Current accounts in domestic currency 71 25

Current accounts in foreign currency 233 197

Total current accounts 304 222

Short-term deposits in domestic currency 9,806 874

Short-term deposits in foreign currency 20,640 2,274

Total short-term deposits 30,446 3,148

Long-term deposits 1,638 62,748

Total 593,475 435,631

Long-term borrowings from international banks and non-banking financial institutions as at 31 December 2005

and 2004 are as follows:

2005 2004

RZB Wien and Raiffeisenlandenbank Karnten 403,010 214,815

Commercbank AG 2,445 3,667

EBRD 55,837 98,483

IFC 45,898 26,007

Kreditanstalt fuer Wiederaufbau 22,400 22,909

OPEC Fund International Development 19,558 -

Oberbank AG 5,868 -

European Investment Bank 3,473 -

Total 558,489 365,881

Interest rates for long-term borrowings from banks were in the range from 2.5% to 5% per annum and from 2% to

6.55% per annum as of 31 December 2005 and 2004, respectively.

Financial statement

www.raiffeisenbank.ba

131


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

23. SUBORDINIRANI DUG

132 www.raiffeisenbank.ba

2005. 2004.

RZB Wien 52.221 32.271

DEG 9.779 9.779

Ukupno 62.000 42.050

Subordinirani dug od RZB Wien u iznosu od 52.221 hiljade KM odnosno 32.271 hiljada KM na dan 31. decembra

2005. odnosno 2004. godine sastoji se od:

Subordiniranog kredita koji je primljen tokom 2003. godine u ukupnom iznosu od 19.558 hiljada KM (10 miliona

EUR) koji će se vraćati u polugodišnjim ratama počevši od 20. juna 2008. godine do 20. juna 2013. godine. Kamata

je EURIBOR +2,5%.

Dva subordinirana kredita primljena u junu i decembru 2004. godine u ukupnom iznosu od 12.713 hiljada KM

(6.500 hiljada EUR):

• Iznos od 9.779 hiljada KM (EUR 5.000 hiljada). Kredit će se vraćati u polugodišnjim ratama od 20. juna 2009

do 20. juna 2011. Kamatna stopa je EURIBOR +2,4%.

• Iznos od 2.934. hiljade KM (EUR 1.500 hiljada). Kredit će se vraćati u polugodišnjim ratama od 20. decembra

2009 do 20. decembra 2011. Kamatna stopa je EURIBOR+ 2,4%:

Subordiniranog kredita koji je primljen u maju 2005. godine u iznosu od 10.171 hiljada KM (5.2 miliona EUR) koji

će se vraćati u polugodišnjim ratama od 20. marta 2010. godine do 20 marta 2012. Kamatna stopa je EURIBOR+

2,4%.

Subordiniranog kredita koji je primljen u novembru 2005. godine u iznosu od 9.779 hiljada KM (5 miliona EUR) koji

će se vraćati u polugodišnjim ratama od 30. septembra 2010. godine do 30. septembra 2012. Kamatna stopa je

EURIBOR +2,4%.

Iznos od 9.779 hiljada KM (5 miliona EUR) predstavlja subordinirani kredit od DEG-a primljen u 2002. godini. Kredit

treba biti vraćen u četiri polugodišnje rate s početkom 15. novembra 2007. godine. Kamata je EURIBOR +3%.

Pojedinačnim odobrenjima Federalne Agencije za bankarstvo subordinirani dug se može koristiti kao dodatni kapital

za regulatorne svrhe.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

23. SUBORDINATED DEBT

2005. 2004.

RZB Wien 52.221 32.271

DEG 9.779 9.779

Ukupno 62.000 42.050

The subordinated loans from RZB Wien as of December 31, 2005 and 2004 respectively amounting to KM 52,221

thousand and KM 32,271 thousand are comprised of:

One subordinated loans received in 2003 totalling KM 19,558 thousand (EUR 10 million), repayable in semi-annual

instalments from 20 June 2008 until 20 June 2013. The interest rate is EURIBOR + 2.5%.

Two subordinated loans received in June and December 2004, totalling KM 12,713 thousand (EUR 6,500 thousand),

respectively in the amounts of:

• KM 9,779 thousand (EUR 5,000 thousand) repayable in semi-annual instalments starting from 20 June 2009

until 20 June 2011. The interest rate is EURIBOR + 2.4%.

• KM 2,934 thousand (EUR 1,500 thousand).repayable in semi-annual instalments starting from 20 December

2009 until 20 December 2011. The interest rate is EURIBOR + 2.4%.

One subordinated loan received in May 2005 in amount of KM 10,171 thousand (EUR 5.2 millions) repayable in

semi-annual instalments from 20 March 2010 until 20 March 2012. The interest rate is EURIBOR + 2.4%.

One subordinated loan received in November 2005 in amount of KM 9,779 thousand (EUR 5 millions) repayable in

semi-annual instalments from 30 Sept 2010 until 30 Sept 2012. The interest rate is EURIBOR + 2.4%.

The amount of KM 9,779 thousand (EUR 5,000 thousand) presents subordinated loan from DEG received in 2002.

The loan should be repaid in four semi-annual instalments starting 15 November 2007. The interest rate is EURIBOR

+ 3%.

Subject to the approval of the Federal Banking Agency, subordinated debt may be used as additional capital for

regulatory purposes.

Financial statement

www.raiffeisenbank.ba

133


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

24. OBAVEZE PREMA KLIJENTIMA

Depoziti po viđenju:

Stanovništvo:

134 www.raiffeisenbank.ba

2005. 2004.

U KM 154.699 133.823

U stranoj valuti 222.515 197.067

Podzbir 377.214 330.890

Pravne osobe:

U KM 353.933 288.014

U stranoj valuti 113.663 95.335

Podzbir 467.596 383.349

Ukupno depoziti po viđenju 844.810 714.239

Oročeni depoziti:

Stanovništvo:

U KM 73.603 52.223

U stranoj valuti 445.745 352.948

Podzbir 519.348 405.171

Pravne osobe:

U KM 99.085 86.297

U stranoj valuti 163.778 190.633

Podzbir 262.863 276.930

Ukupno oročeni depoziti 782.211 682.101

Ukupno 1.627.021 1.396.340

Kamatna stopa na depozite po viđenju u 2005. i 2004. godini iznosila je 0.75% odnosno 0.50% za depozite po

viđenju u KM te od 0,75% do 1,75% u 2005. godini, a od 0,25% do 1,75% u 2004. godini na depozite po viđenju u

stranoj valuti. Kamatne stope na kratkoročne depozite kretale su se od 0,75% do 3,35% u 2005. godini, te od 1,2%

do 4,2% u 2004. godini. Kamatne stope na dugoročne depozite kretale su se od 4,40% do 6,00% u 2005. godini,

te od 4,60% do 6,20% u 2004. godini.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

24. AMOUNTS DUE TO CUSTOMERS

Demand deposits:

Citizens:

2005 2004

In KM 154,699 133,823

In foreign currencies 222,515 197,067

Subtotal 377,214 330,890

Legal entities:

In KM 353,933 288,014

In foreign currencies 113,663 95,335

Subtotal 467,596 383,349

Total demand deposits 844,810 714,239

Term deposits:

Citizens:

In KM 73,603 52,223

In foreign currencies 445,745 352,948

Subtotal 519,348 405,171

Legal entities:

In KM 99,085 86,297

In foreign currencies 163,778 190,633

Subtotal 262,863 276,930

Total term deposits 782,211 682,101

Total 1,627,021 1,396,340

Demand deposit interest rates during 2005 and 2004 were 0.75% and 0.50%, respectively for demand deposits in

KM and from 0.75% to 1.75% and 0.25% to 1.75%, respectively for demand deposits in foreign currency. Shortterm

deposit interest rates were from 0.75% to 3.35% and from 1.2% to 4.2% during 2005 and 2004, respectively.

Long-term deposit interest rates were from 4.40% to 6.00% and from 4.60% to 6.20% during 2005 and 2004,

respectively.

Financial statement

www.raiffeisenbank.ba

135


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

25. OSTALE OBAVEZE

136 www.raiffeisenbank.ba

2005. 2004.

Obaveze za obračunatu kamatu 5.207 3.996

Obaveze iz deviznog poslovanja 3.961 7.011

Obaveze prema dobavljačima 2.794 4.090

Ostale obaveze 5.278 2.924

Odgođeni prihodi 5.679 -

Obaveze prema dioničarima 9 8

Razlika-komisioni poslovi - 760

Obaveze za zaposlene 3 32

Obaveze za porez 200 53

Prelazni račun 163 1.324

Ukupno 23.294 20.198

26. DIVIDENDE

Dana 27. maja 2005. godine dioničarima je isplaćena dividenda u iznosu od 22.75 KM i 11.47 KM po dionici

(ukupno isplaćena dividenda iznosi 4.538 hiljada KM). U maju 2004. godine isplaćena je dividenda u iznosu od 17

KM po dionici (ukupno 3.049 hiljada KM).

27. PREUZETE I POTENCIJALNE FINANSIJSKE OBAVEZE

U okviru redovnog poslovanja Banka je strana u nekoliko sudskih sporova temeljem povrata sredstava na osnovi

instrumenata osiguranja ili neizmirenih potraživanja po kreditima, koji uključuju kamate i troškove spornih

potraživanja od komitenata banke, kao i drugih banaka. Uprava Banke uvjerena je da neriješeni sporovi na dan 31.

decembra 2005. godine neće imati za posljedicu nikakve značajne gubitke za Banku.

Potencijalne obaveze

2005. 2004.

Plative garancije 72.223 53.003

Činidbene garancije 111.955 66.851

Akreditivi 35.301 28.813

Dati avali 2.870 4.466

Ukupno potencijalne obaveze 222.349 153.133

Preuzete obaveze

Neiskorišteni odobreni krediti 91.680 59.461

Okvirni ugovori 211.051 162.338

Ukupno preuzete obaveze 302.695 221.799

Ukupno potencijalne i preuzete obaveze

525.044 374.932


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

25. OTHER LIABILITIES

2005 2004

Interest liabilities 5,207 3,996

Liabilities from spot FX transactions 3,961 7,011

Liabilities to vendors 2,794 4,090

Other liabilities 5,278 2,924

Deferred income 5,679 -

Liabilities to shareholders 9 8

Difference – managed funds - 760

Liabilities to employees 3 32

Tax liabilities 200 53

Suspense account 163 1,324

Total 23,294 20,198

26. DIVIDENDS

On 27 May 2005, a dividend of KM 22.75 and KM 11.47 per share (total dividend KM 4,538 thousand) was paid to

shareholders. In May 2004, the dividend paid was KM 17 per share (total dividend KM 3,049 thousand).

27. FINANCIAL COMMITMENTS AND CONTINGENCIES

In the ordinary course of business, the Bank has been involved in a number of legal proceedings to recover collateral

or outstanding credit balances, as well as related interest and expenses from defaulted credit customers and interbank

counterparts. The management of the Bank believe that any legal proceedings pending as at 31 December 2005 will

not result in material loss to the Bank.

Contingent liabilities

2005 2004

Payment guarantees 72,223 53,003

Performance guarantees 111,955 66,851

Letters of credit 35,301 28,813

Advances 2,870 4,466

Total contingent liabilities 222,349 153,133

Commitments

Unused portion of overdraft loans 91,680 59,461

Frame agreements 211,015 162,338

Total commitments 302,695 221,799

Total contingent liabilities and commitments 525,044 374,932

Financial statement

www.raiffeisenbank.ba

137


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

28. REZERVISANJA

Tokom svog poslovanja, Banka preuzima i kreditne obaveze koje se vode na računima u vanbilansnoj evidenciji, a

koje se odnose na garancije, akreditive i neiskorišteni dio odobrenih kredita. Rezervisanja za preuzete obaveze se

priznaju kad Banka ima sadašnju obavezu kao rezultat prošlih događaja i kada je vjerovatno da će Banka morati

izmirit tu obavezu. Uprava Banke pravi procjenu rezervisanja u poređenju s potencijalnim troškom za Banku u

slučauju izmirenja ovih obaveza.

Promjene u rezervisanjima za potencijalne i preuzete finansijske obaveze:

138 www.raiffeisenbank.ba

2005. 2004.

Stanje na dan 1. januara 12.023 8.879

Povećanje rezervisanja za godinu 6.216 3.144

Stanje na dan 31. decembra

29. TRANSAKCIJE S POVEZANIM STRANAMA

Prema definiciji iz MRS-a 24, povezane strane su strane koje predstavljaju:

18.239 12.023

a. društva koja direktno ili indirektno putem jednog ili više posrednika, kontrolišu izvještajno društvo ili su pod njegovom

kontrolom, odnosno koja izvještajno društvo kontroliše zajedno s drugim subjektima (što uključuje maticu,

ovisne subjekte i sestrinska društva);

b. pridružena lica – društva u kojima Banka ima značajan utjecaj a koja nisu ni povezano lice, niti zajedničko

ulaganje investitora;

c. fizičke osobe koje direktno ili indirektno imaju pravo glasa u Banci koje im omogućava značajan uticaj na Banku,

kao i bilo koji drugi subjekt za koji se očekuje da će uticati ili biti pod uticajem povezane osobe u poslovanju s

Bankom;

d. rukovodioci na ključnim položajima, odnosno osobe koje imaju ovlaštenja i odgovornosti za planiranje,

usmjeravanje i kontrolisanje aktivnosti Banke, uključujući direktore i službene osobe Banke i članove njihovih užih

obitelji; i

e. društva u kojima bilo koja osoba navedena pod (c) ili (d) ima značajan interes u glasačkim pravima

ili koje je direktno ili indirektno u vlasništvu navedenih osoba, odnosno u kojima iste mogu imati

značajan uticaj. To uključuje društva u vlasništvu direktora ili većinskih dioničara Banke, kao i preduzetnike

čiji rukovoditelji na ključnim položajima su istovremeno na istim ili sličnim položajima u Banci.

Prilikom razmatranja svake moguće transakcije s povezanom stranom pozornost je usmjerena na suštinu odnosa, a

ne samo na pravni oblik.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

28. PROVISIONS

In the ordinary course of business, the Bank enters into credit related commitments which are recorded in off-balance

sheet accounts and primarily include guarantees, letters of credit and undrawn loan commitments. Provisions for

contingent liabilities are recognised when the Bank has a present obligation as a result of a past event, and it is

probable that the Bank will be required to settle that obligation. Management Board estimates the provisions based

at the best estimate of expenditure to settle the Bank’s obligation.

Movements in provision for contingent liabilities and commitments is as follows:

2005 2004

Balance as at 1 January 12,023 8,879

Provisions charged for the year 6,216 3,144

Balance as at 31 December

29. RELATED-PARTY TRANSACTIONS

Related parties, as defined by IAS 24, are those counter parties that represent:

18,239 12,023

a. enterprises that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are

under common control with, the reporting enterprise. (This includes holding companies, subsidiaries and fellow

subsidiaries);

b. associates – enterprises in which the Bank has significant influence and which is neither a subsidiary nor a joint

venture of the investor;

c. individuals owning, directly or indirectly, an interest in the voting power of the Bank that gives them significant

influence over the Bank, and anyone expected to influence, or be influenced by, that person in their dealings with

the Bank;

d. key management personnel, that is, those persons having authority and responsibility for planning, directing and

controlling the activities of the Bank, including directors and officers of the Bank and close members of the families

of such individuals; and

e. enterprises in which a substantial interest in the voting power is owned, directly or indirectly, by any person

described in (c) or (d) or over which such a person is able to exercise significant influence. This includes enterprises

owned by directors or major shareholders of the Bank and enterprises that have a member of key management

in common with the Bank.

In considering each possible related party relationship, attention is directed to the substance of the relationship, and

not merely the legal form.

Financial statement

www.raiffeisenbank.ba

139


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

29. TRANSAKCIJE S POVEZANIM STRANAMA (NASTAVAK)

140 www.raiffeisenbank.ba

2005. 2004.

Plasmani kod Raiffeisen Zentralbank Osterreich AG 33.249 17.798

Krediti dati Raiffeisen Brokers d.o.o. Sarajevo 391 426

Krediti dati Raiffeisen osiguranje d.d. Sarajevo - 2.044

33.640 20.268

Uzeti krediti i subordinirani dug od Raiffeisen Zentralbank Osterreich AG, Vienna 471.855 284.484

Sredstva Raiffeisen Zentralbank Osterreich AG, Vienna na racunima Banke 19.561 3

491.416 284.487

2005. 2004.

Kamata i slični prihodi Raiffeisen Zentralbank Osterreich AG 645 283

Kamata i slični prihodi Raiffeisen Brokers d.o.o. Sarajevo 21 17

Kamata i slični prihodi Raiffeisen osiguranje d.d. Sarajevo - 20

Kamata i slični prihodi MI Group d.o.o. DUF Sarajevo - 13

Prihod od naknada i provizija Raiffeisen Brokers d.o.o. Sarajevo 214 96

Prihod od naknada i provizija Raiffeisen Zentralbank Osterreich AG 34 4

Prihod od naknada i provizija Raiffeisen osiguranje d.d. Sarajevo 19 24

Prihod od naknada i provizija MI Group d.o.o. DUF 1 4

Prihod od zakupa Raiffeisen osiguranje d.d. Sarajevo 10 -

Neto prihod od prodaje ulaganja Raiffeisen osiguranja d.d Sarajevo 3.471 -

Kamata i slični troškovi Raiffeisen Zentralbank Osterreich AG

4.415 461

15.515 9.374

Kamata i slični troškovi Raiffeisen osiguranje d.d. Sarajevo 413 146

Troškovi naknada i provizija Raiffeisen Zentralbank Osterreich AG 327 1.158

Troškovi naknada i provizija MI Group d.o.o. DUF Sarajevo 1 -

Troškovi konsultanskih usluga Raiffeisen International Bank Holding AG 2.006 28

Troškovi konsultanskih usluga Raiffeisen Zentralbank Osterreich AG 15 1.186

Troškovi konsultanskih usluga Raiffeisen Group IT 129 -

Ostali troškovi Raiffeisen International Bank Holding AG - 1

Ostali troškovi Raiffeisen Group IT 74 234

18.480 12.127

Tokom redovnog poslovanja ostvareno je nekoliko bankarskih transakcija s povezanim stranama. Te su transakcije

obavljene pod komercijalnim uslovima i rokovima, te uz primjenu tržišnih stopa.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

29. RELATED-PARTY TRANSACTIONS (CONTINUED)

2005 2004

Placements Raiffeisen Zentralbank Osterreich AG 33,249 17,798

Loans Raiffeisen Brokers d.o.o. Sarajevo 391 426

Loans Raiffeisen osiguranje d.d. Sarajevo - 2,044

33,640 20,268

Borrowings and subordinated debt Raiffeisen Zentralbank Osterreich AG, Vienna 471,855 284,484

Due to banks Raiffeisen Zentralbank Osterreich AG, Vienna 19,561 3

491,416 284,487

2005 2004

Interest and similar income Raiffeisen Zentralbank Osterreich AG 645 283

Interest and similar income Raiffeisen Brokers d.o.o. Sarajevo 21 17

Interest and similar income Raiffeisen osiguranje d.d. Sarajevo - 20

Interest and similar income MI Group d.o.o. DUF Sarajevo - 13

Fee and commission income Raiffeisen Brokers d.o.o. Sarajevo 214 96

Fee and commission income Raiffeisen Zentralbank Osterreich AG 34 4

Fee and commission income Raiffeisen osiguranje d.d. Sarajevo 19 24

Fee and commission income MI Group d.o.o. DUF 1 4

Income from rent Raiffeisen osiguranje d.d. Sarajevo 10 -

Net income from disposal of investments Raiffeisen osiguranje d.d Sarajevo 3,471 -

4,415 461

Interest and similar expense Raiffeisen Zentralbank Osterreich AG 15,515 9,374

Interest and similar expense Raiffeisen osiguranje d.d. Sarajevo 413 146

Fee and commission expense Raiffeisen Zentralbank Osterreich AG 327 1,158

Fee and commission expense MI Group d.o.o. DUF Sarajevo 1 -

Consulting expenses Raiffeisen International Bank Holding AG 2,006 28

Consulting expenses Raiffeisen Zentralbank Osterreich AG 15 1,186

Consulting expenses Raiffeisen Group IT 129 -

Other expenses Raiffeisen International Bank Holding AG - 1

Other expenses Raiffeisen Group IT 74 234

18,480 12,127

A number of banking transactions are entered into with related parties in the normal course of business. These

transactions were carried out on commercial terms and conditions and at market rates.

Financial statement

www.raiffeisenbank.ba

141


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

29. TRANSAKCIJE S POVEZANIM STRANAMA (NASTAVAK)

Naknade direktorima i ostalim članovima menadžmenta :

142 www.raiffeisenbank.ba

2005. 2004.

Naknade direktorima i ostalom menadžmentu 3.100 2.444

Porezi i doprinosi na naknade 1.925 1.578

Bonusi Upravnom odboru – Obračunati troškovi 40 -

Bonusi Upravnom odboru – Obračunati troškovi poreza na

bonuse (50%) 20 -


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

29. RELATED-PARTY TRANSACTIONS (CONTINUED)

The remuneration of directors and other members of key management were as follows:

2005 2004

Compensations for directors and other key management 3,100 2,444

Taxes and contributions on Compensations 1,925 1,578

Bonuses to Management board – Accrued expenses 40 -

Bonuses to Management board –

Accrued tax expenses for bonuses (50%) 20 -

Financial statement

www.raiffeisenbank.ba

143


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

30. PROCJENA FER VRIJEDNOSTI FINANSIJSKE IMOVINE I FINANSIJSKIH OBAVEZA

Fer vrijednost finansijskog instrumenta je iznos po kojem se sredstvo može razmijeniti ili obaveza podmiriti između

obaviještenih i spremnih strana u transakciji pred nagodbom. Fer vrijednost se temelji na kotiranim tržišnim cijenama

ako su dostupne. Međutim, tržišne cijene za značajan dio finansijskih instrumenata Banke nisu dostupne. U tim

okolnostima, fer vrijednost se procjenjuje primjenom modela diskontiranog novčanog toka ili drugih odgovarajućih

tehnika za utvrđivanje cijena. Promjene u pretpostavkama na kojima se temelje procjene, uključujući diskontne stope

i procijenjene buduće novčane tokove, značajno utiču na procjene. Iz tog razloga, procijenjene fer tržišne vrijednosti

ne moraju se nužno realizirati prodajom finansijskog instrumenta u sadašnjem trenutku.

Prema mišljenju Uprave Banke, fer vrijednost finansijske imovine i finansijskih obaveza Banke ne razlikuje se značajno

od iznosa iskazanih na dan 31. decembra 2005. i 31. decembra 2004. U procjeni fer vrijednosti finansijskih

instrumenata Grupe korištene su sljedeće metode i pretpostavke:

(a) Novac i sredstva kod Centralne banke

Knjigovodstveni iznosi novca i sredstava kod Centralne banke općenito su približni njihovim fer vrijednostima.

(b) Potraživanja od drugih banaka

Procijenjena fer vrijednost potraživanja od drugih banaka koja dospijevaju u roku od najviše 180 dana približne

su njihovim knjigovodstvenim iznosima. Fer vrijednost drugih potraživanja od banaka procjenjuje se na temelju

analize diskontiranog novčanog toka primjenom kamatnih stopa koje se trenutno nude za ulaganja pod sličnim

uvjetima (tržišne stope usklađene za kreditni rizik). Fer vrijednost potraživanja koja nije moguće naplatiti redovnim

putem procjenjuje se na temelju analize diskontiranog novčanog toka za predmetni instrument osiguranja. Prilikom

izračunavanja fer vrijednosti, ne uzima se u obzir ispravka vrijednosti.

(c) Krediti i avansi klijentima

Fer vrijednost kredita s varijabilnim prinosom a čija cijena se redovno preispituje i kod kojih nisu zapažene nikakve

značajne promjene u kreditnom riziku uglavnom su približne njihovim knjigovodstvenim iznosima. Fer vrijednost

kredita s fiksnom kamatnom stopom procjenjuje se na temelju analize diskontiranog novčanog toka primjenom

trenutno važećih kamatnih stopa na kredite na koje se primjenjuju slični uvjeti ili koji imaju slična kreditna obilježja.

Fer vrijednost kredita klijentima koji ne otplaćuju svoje obaveze procjenjuje se na temelju analize diskontiranog

novčanog toka ili procijenjene vrijednosti instrumenta osiguranja za predmetni kredit. Krediti s fiksnom kamatnom

stopom predstavljaju samo dio ukupnog knjigovodstvenog iznosa, te je stoga fer vrijednost ukupnih kredita i avansa

klijentima približna knjigovodstvenim iznosima na datum bilansa stanja.

(d) Obaveze prema drugim bankama i klijentima

Fer vrijednost oročenih depozita koji dospijevaju na poziv predstavlja knjigovodstveni iznos obaveze plative na

datum bilansa stanja. Fer vrijednost oročenih depozita s promjenjivom kamatnom stopom približna je knjigovodstvenom

iznosu na datum bilansa stanja. Fer vrijednost depozita s fiksnom kamatnom stopom procjenjuje se diskontiranjem

budućih novčanih tokova primjenom kamatnih stopa koje se trenutno primjenjuju na depozite sa sličnim

preostalim periodom do dospijeća.

144 www.raiffeisenbank.ba


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

30. ESTIMATED FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

Fair value of financial instruments is the amount for which an asset could be exchanged, or a liability settled, between

knowledgeable, willing parties in an arm’s-length transaction. Where available, fair value is based on quoted

market prices. However, no readily available market prices exist for a significant portion of the Bank’s financial

instruments. In circumstances where the quoted market prices are not readily available, the fair value is estimated

using discounted cash flow models or other pricing techniques as appropriate. Changes in underlying assumptions,

including discount rates and estimated future cash flows, significantly affect the estimates. Therefore, the calculated

fair market estimates may not be realisable in a current sale of the financial instrument.

It is the opinion of the management of the Bank that the fair value of the Bank financial assets and liabilities are

not materially different from the amounts stated in the balance sheets as at 31 December 2005 and 31 December

2004. In estimating the fair value of the Bank’s financial instruments, the following methods and assumptions were

used.

(a) Cash balances with the Central bank

The carrying values of cash and balances with the Central bank are generally deemed to approximate their fair

value.

(b) Due from banks

The estimated fair value of amounts due from banks that mature in 180 days or less approximates their carrying

amounts. The fair value of other amounts due from banks is estimated based upon discounted cash flow analyses

using interest rates currently offered for investments with similar terms (market rates adjusted to reflect credit risk).

The fair value of non-performing amounts due from banks is estimated using a discounted cash flow analysis or

the appraised value of the underlying collateral. Allowances are not taken into consideration when calculating fair

values.

(c) Loans and advances to customers

The fair value of variable yield loans that regularly reprice, with no significant change in credit risk, generally

approximates their carrying value. The fair value of loans at fixed interest rates is estimated using discounted cash

flow analyses, based upon interest rates currently offered for loans with similar terms to borrowers of similar credit

quality. The fair value of non-performing loans to customers is estimated using a discounted cash flow analysis or the

appraised value of the underlying collateral, where available. Loans at fixed interest rates represent only a fraction of

the total carrying value and hence the fair value of total loans and advances to customers approximates the carrying

values as at the balance sheet date.

(d) Amounts due to banks and customers

The fair value of term deposits payable on demand represents the carrying value of amounts payable on demand as

at the balance sheet date. The fair value of term deposits at variable interest rates approximates their carrying values

as at the balance sheet date. The fair value of deposits at fixed interest rates is estimated by discounting their future

cash flows using rates currently offered for deposits of similar remaining maturities.

Financial statement

www.raiffeisenbank.ba

145


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

31. KOMISIONI POSLOVI

Sredstva kojima Banka upravlja kao povjerenik za i u ime trećih lica, ne predstavljaju sredstva Banke, pa se s toga vode

odvojeno od imovine banke. Za ove usluge banka naplaćuje proviziju u iznosu od 1% od ukupno plasiranog novca.

Obaveze

146 www.raiffeisenbank.ba

2005. 2004.

Stanovništvo 1.241 1.650

Vlada 5.105 5.408

Preduzeća 6.827 5.275

Ostali 7.552 11.409

Ukupno 20.725 23.742

Imovina

Krediti dati preduzećima 13.131 15.502

Krediti dati stanovništvu 7.594 7.480

Ukupno 20.725 22.982

Obaveze prema kreditorima – komisioni poslovi (Napomena 25) - 760

Banka ne daje nikakve garancije za komisione poslove.


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

31. MANAGED FUNDS

The Bank manages assets on behalf of third parties. These assets are recorded separately from the Bank’s assets. For

its services, the Bank charges a fee amounting to 1% of the total amount contributed.

Liabilities

2005 2004

Citizens 1,241 1,650

Government 5,105 5,408

Companies 6,827 5,275

Other 7,552 11,409

Total 20,725 23,742

Assets

Loans to companies 13,131 15,502

Loans to citizens 7,594 7,480

Total 20,725 22,982

Amounts due to original creditors – managed funds (Note 25) - 760

The Bank has not issued any guarantees related to managed funds.

Financial statement

www.raiffeisenbank.ba

147


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

32. VALUTNI RIZIK

Banka je izložena učincima promjena u valutnim kursevima na svoj finansijski položaj i novčane tokove.

Niže u tablici analizirane su osnovne valute po kojima je Banka izložena riziku. Ostale valute obuhvaćene su u okviru

stavke “Ostale valute”. Banka prati svoj valutni položaj u odnosu na udovoljavanje regulatornim zahtjevima koje je

Agencija za bankarstvo Federacije Bosne i Hercegovine definirala kao limite otvorenih pozicija. Banka nastoji sučeliti

svoju imovinu i obaveze u stranim valutama kako bi izbjegla izloženost valutnom riziku.

‘000 KM KM EUR USD

SREDSTVA

148 www.raiffeisenbank.ba

Ostale

valute

Rezervisanja

Ukupno

Novac i sredstva kod banaka 56.644 24.229 2.099 7.148 - 90.120

Obavezna rezerva kod

Centralne banke BiH 338.183 - - - - 338.183

Plasmani kod drugih banaka 3.003 483.110 156.950 9.279 (13) 652.329

Dati krediti 1.355.734 39.684 346 4 (63.770) 1.331.998

Kupljeni krediti koji se

drže do dospijeća 717 - - - (670) 47

Kapitalna ulaganja 2.665 7 - - (188) 2.484

Ostala imovina 21.276 11.443 1.079 3.131 (707) 36.222

Nekretnine i oprema 42.513 - - - (423) 42.090

Ukupna imovia (1) 1.820.735 558.473 160.474 19.562 (65.771) 2.493.473

OBAVEZE

Obaveze prema drugim bankama 11.012 582.324 125 14 - 593.475

Obaveze prema klijentima 681.319 770.184 158.467 17.051 - 1.627.021

Rezervisanja - - - - 18.239 18.239

Ostale obaveze 13.668 5.248 2.259 2.119 - 23.294

Subordinirani dug - 62.000 - - - 62.000

Ukupne obaveze (2) 705.999 1.419.756 160.851 19.184 18.239 2.324.029

Neto bilans stanja na dan

31. decembra 2005 (1) - (2) 1.114.736 (861.283) (377) 378 (84.010) 169.444

Ukupna sredstva na dan

31. decembra 2004. (3) 1.445.163 440.373 193.867 16.863 (56.271) 2.039.995

Ukupne obaveze na dan

31. decembra 2004. (4) 572.094 1.113.624 192.340 16.161 12.023 1.906.242

UKUPNI NETO BILANS STANJA NA DAN

31. DECEMBRA 2004. (3) – (4) 873.069 (673.251) 1.527 702 (68.294) 133.753


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

32. FOREIGN CURRENCY RISK

The Bank takes on exposure to effects of fluctuations in the prevailing foreign currency exchange rates on its financial

position and cash flows.

The table below provides an analysis of the Bank’s main currency exposures. The remaining currencies are shown

within ‘Other currencies.’ The Bank monitors its foreign exchange (FX) position for compliance with the regulatory

requirements of the Federal Banking Agency established in respect of limits on open positions. The Bank seeks to

match assets and liabilities denominated in foreign currencies to avoid foreign currency exposures.

‘000 KM KM EUR USD

ASSETS

Other

currencies

Provisions

Total

Cash and due from banks 56,644 24,229 2,099 7,148 - 90,120

Due from the Central Bank 338,183 - - - - 338,183

Placements with other banks 3,003 483,110 156,950 9,279 (13) 652,329

Loans originated by the bank 1,355,734 39,684 346 4 (63,770) 1,331,998

Purchased loans 717 - - - (670) 47

Investments 2,665 7 - - (188) 2,484

Other assets 21,276 11,443 1,079 3,131 (707) 36,222

Fixed and intangible assets 42,513 - - - (423) 42,090

Total assets (1) 1,820,735 558,473 160,474 19,562 (65,771) 2,493,473

LIABILITIES

Due to other banks 11,012 582,324 125 14 - 593,475

Due to customers 681,319 770,184 158,467 17,051 - 1,627,021

Provisions - - - - 18,239 18,239

Other liabilities 13,668 5,248 2,259 2,119 - 23,294

Subordinated debt - 62,000 - - - 62,000

Total liabilities (2) 705,999 1,419,756 160,851 19,184 18,239 2,324,029

Balance as at

31 December 2005, net (1) - (2) 1,114,736 (861,283) (377) 378 (84,010) 169,444

Total assets as of

31 December 2004 (3) 1,445,163 440,373 193,867 16,863 (56,271) 2,039,995

Total liabilities as of

31 December 2004 (4) 572,094 1,113,624 192,340 16,161 12,023 1,906,242

TOTAL BALANCE AS AT

31 DECEMBER 2004, NET (3) – (4) 873,069 (673,251) 1,527 702 (68,294) 133,753

Financial statement

www.raiffeisenbank.ba

149


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

33. KAMATNI RIZIK

Kamatni rizik je rizik promjene vrijednosti finansijskog instrumenta uslijed promjena kamatnih stopa na tržištu. Stoga

razdoblje u kojem je kamatna stopa za finansijski instrument nepromjenjiva ukazuje na izloženost kamatnom riziku.

U idućoj tablici nalaze se podaci o izloženosti Banke kamatnom riziku, koja je analizirana ili na temelju ugovornog

dospijeća finansijskog instrumenta, ili, kod instrumenata čija kamatna stopa se mijenja prije dospijeća, u razdoblju

do idućeg datuma promjene kamatne stope. Politika Banke je da svojom izloženošću promjenama u neto prihodima

od kamata koji proizlaze iz promjena kamatnih stopa upravlja kontrolisanim neusklađivanjem datuma promjene

cijena u bilansu stanja. Imovina i obaveze za koje ne postoji ugovoreni datum dospijeća ili na koje se ne obračunava

kamata svrstani su u okviru kategorije “Nedefinisano dospijeće”.

‘000 KM

AKTIVA

150 www.raiffeisenbank.ba

0-1

mjesec

1 do 6

mjeseci

6 do 12

mjeseci

Preko 1

godine

Nedefinirano

dospijeće

Rezervisanja

Ukupno

Novac i sredstva kod banaka 16.328 - - - 73.792 - 90.120

Obavezna rezerva Centralne

banke - - - - 338.183 - 338.183

Plasmani kod drugih banaka 583.048 68.798 - 496 - (13) 652.329

Dati krediti I potraživanja 80.264 269.732 267.186 778.586 - (63.770) 1.331.998

Kupljeni krediti koji se

drže do dospijeća - - - 717 - (670) 47

Kapitalna ulaganja - - - - 2.672 (188) 2.484

Ostala imovina - - - - 36.929 (707) 36.222

Nekretnine i oprema - - - 42.513 (423) 42.090

UKUPNA IMOVINA (1) 679.640 338.530 267.186 779.799 494.089 (65.771) 2.493.473

OBAVEZE

Obaveze prema drugim

bankama 27.505 50.403 58.935 446.424 10.208 - 593.475

Obaveze prema klijentima 921.113 226.855 196.192 228.053 54.808 - 1.627.021

Rezervisanja - - - - - 18.239 18.239

Ostale obaveze 1.698 3.504 - - 18.092 - 23.294

Subordinirani dug - - - 62.000 - - 62.000

UKUPNE OBAVEZE (2) 950.316 280.762 255.127 736.477 83.108 18.239 2.324.029

Neusklađenost bilansa na dan

31. decembra 2005. (1) - (2) (270.676) 57.768 12.059 43.322 410.981 (84.010) 169.444

Ukupna imovina na dan

31. decembra 2004. godine 654.084 237.015 240.338 572.912 391.917 (56.271) 2.039.995

Ukupne obaveze na dan

31. decembra 2004. godine 885.681 216.081 275.038 459.305 58.114 12.023 1.906.242

Neusklađenost bilanca na dan

31. decembra 2004. (231.597) 20.934 (34.700) 113.607 333.803 (68.294) 133.753


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

33. INTEREST RATE RISK

Financial statement

Interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates.

The length of time for which the rate of interest is fixed on a financial instrument, therefore, indicates to what extent it

is exposed to interest rate risk. The table below provides information on the extent of the Bank’s interest rate exposure

based either on the contractual maturity date of its financial instruments or, in the case of instruments that reprice to

a market rate of interest before maturity, the next repricing date. It is the policy of the Bank to manage the exposure

to fluctuations in net interest income arising from changes in interest rates by the degree of repricing mismatch in the

balance sheet. Those assets and liabilities that do not have contractual maturity date or are not interest bearing are

banked in ‘maturity undefined’ category.

‘000 KM 0-1 month

ASSETS

1 to 6

months

6 to 12

months

Over 1

year

Non

interest

bearing

Provision

for impairment

Total

Cash and due from banks 16,328 - - - 73,792 - 90,120

Due from the Central Bank - - - - 338,183 - 338,183

Placements with other banks 583,048 68,798 - 496 - (13) 652,329

Loans originated by the Bank 80,264 269,732 267,186 778,586 - (63,770) 1,331,998

Purchased loans - - - 717 - (670) 47

Investments - - - - 2,672 (188) 2,484

Other assets - - - - 36,929 (707) 36,222

Fixed and intangible

assets - - - 42,513 (423) 42,090

TOTAL ASSETS (1) 679,640 338,530 267,186 779,799 494,089 (65,771) 2,493,473

LIABILITIES

Due to other banks 27,505 50,403 58,935 446,424 10,208 - 593,475

Due to customers 921,113 226,855 196,192 228,053 54,808 - 1,627,021

Provisions - - - - - 18,239 18,239

Other liabilities 1,698 3,504 - - 18,092 - 23,294

Subordinated debt - - - 62,000 - - 62,000

TOTAL LIABILITIES (2) 950,316 280,762 255,127 736,477 83,108 18,239 2,324,029

Mismatch as of 31

December 2005 (1) - (2) (270,676) 57,768 12,059 43,322 410,981 (84,010) 169,444

Total assets as at

31 December 2004 654,084 237,015 240,338 572,912 391,917 (56,271) 2,039,995

Total liabilities as at

31 December 2004 885,681 216,081 275,038 459,305 58,114 12,023 1,906,242

Balance mismatch as of

31 December 2004 (231,597) 20,934 (34,700) 113,607 333,803 (68,294) 133,753

www.raiffeisenbank.ba

151


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

34. PROSJEČNE KAMATNE STOPE

Prosječne kamatne stope su izračunate kao ponderisani prosjek za svaku kategoriju imovine i obaveza:

31. decembar 2005. EUR USD Ostalo KM

IMOVINA

Potraživanja od Centralne banke 1,59%

Plasmani kod banaka 2,32% 2,33% - 3,68% 0,65%-3,24% -

Krediti 3,00% - 12,00% - - 3,00% – 14,00%

OBAVEZE

Obaveze prema bankama Euribor + 1,98% - - -

Depoziti po viđenju 0,30% 0,25% 0% - 1,75% 0,30%

Oročeni depoziti 1,00% - 6,00% 0,75%-1,40% 0% - 3,35% 1,00% - 6,00%

Subordinirani dug Euribor + 2,4%

31. decembar 2004. EUR USD Ostalo KM

IMOVINA

Potraživanja od Centralne

banke - - - 1,47%

Plasmani kod banaka 0,9% - 2,06% 0,9% - 1,25% 0,19% - 3% -

Krediti 6,21% - 12% 8,90% - 3,5% - 16%

OBAVEZE

Obaveze prema bankama 2,17% - 4,3% - - -

Depoziti po viđenju 0% - 0,75% 0,25% - 0,75% 0% - 1,75% 0,50%

Oročeni depoziti 1,2% - 6,2% 0,35% - 1% 0,2% - 3,35% 1% - 6,2%

Subordinirani dug

152 www.raiffeisenbank.ba

Euribor + 2,15%

Euribor + 3% - - -


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

34. AVERAGE INTEREST RATES

Average interest rates are calculated as weighted average for each category of interest bearing assets and

liabilities:

31 December 2005 EUR USD Other KM

ASSETS

Due from Central Bank 1.59%

Placements with other banks 2.32% 2.33% - 3.68% 0.65%-3.24% -

Loans 3.00% - 12.00% - - 3.00% – 14.00%

LIABILITIES

Due to other banks Euribor + 1.98% - - -

Demand deposits 0.30% 0.25% 0% - 1.75% 0.30%

Term deposits 1.00% - 6.00% 0.75%-1.40% 0% - 3.35% 1.00% - 6.00%

Subordinated debt Euribor + 2.4%

31 December 2004 EUR USD Other KM

ASSETS

Due from Central Bank - - - 1.47%

Placements with other banks 0.9% - 2.06% 0.9% - 1.25% 0.19% - 3% -

Loans 6.21% - 12% 8.9% - 3.5% - 16%

LIABILITIES

Due to other banks 2.17% - 4.3% - - -

Demand deposits 0% - 0.75% 0.25% - 0.75% 0% - 1.75% 0.5%

Term deposits 1.2% - 6.2% 0.35% - 1% 0.2% - 3.35% 1% - 6.2%

Subordinated debt

Euribor + 2.15%

Euribor + 3% - - -

Financial statement

www.raiffeisenbank.ba

153


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

35. RIZIK LIKVIDNOSTI

Rizik likvidnosti predstavlja moguću izloženost Banke vezano uz pribavljanje sredstava koja su potrebna Banci da

bi izmirila svoje preuzete obaveze po finansijskim instrumentima. Banka održava likvidnost u skladu s propisima

Agencije za bankarstvo Federacije Bosne i Hercegovine. Tabela u nastavku sadrži analizu sredstava, obaveza i

vlasničke glavnice prema preostalim periodima od datuma bilansa do ugovornog dospijeća, pri čemu su rokovi

dospijeća utvrđeni uzevši u obzir moguće ranije rokove otplate za opcije ili temeljem plana otplate. Sredstva i obaveze

za koje ne postoji ugovorno dospijeće svrstana u okviru kategoriju “Nedefinisano dospijeće”.

Banka je izložena svakodnevnim pozivima na isplatu sredstava koje izmiruje raspoloživim novčanim izvorima

koji se sastoje od prekonoćnih depozita, sredstava na tekućim računima, depozitima koji dospijevaju, povlačenja

sredstava kredita, jamstava i ostalih derivata koji se podmiruju iz marži i ostalih iznosa na poziv za gotovinske

derivate. Banka ne održava novčane izvore da bi pokrila sve navedene potrebe jer je iz iskustva moguće s velikom

pouzdanošću predvidjeti minimalne iznose ponovnog ulaganja dospjelih sredstava. Banka utvrđuje limite za najniže

iznose sredstava koja dospijevaju a koja su raspoloživa za izmirivanje iznosa plativih na poziv, kao i najniže iznose

međubankarskih i ostalih kredita za pokriće neočekivanih iznosa sredstava koja se povlače na zahtjev.

154 www.raiffeisenbank.ba


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

35. LIQUIDITY RISK

Liquidity risk is a measure of the extent to which the Bank may be required to raise funds to meet its commitments

associated with financial instruments. The Bank maintains its liquidity profiles in accordance with regulations laid

down by the Federal Banking Agency. The table below provides an analysis of assets, liabilities and shareholders’

equity into relevant maturity groupings based on the remaining period from the balance sheet date to the contractual

maturity date. It is presented under the most prudent consideration of maturity dates where options or repayment

schedules allow for early repayment possibilities. Those assets and liabilities that do not have a contractual maturity

date are grouped together under ‘maturity undefined’ category.

The Bank is exposed to daily calls on its available cash resources from overnight deposits, current accounts, maturing

deposits, loan drawdowns, guarantees and from margin and other calls on cash-settled derivatives. The Bank does

not maintain cash resources to meet all of these needs as experience shows that a minimum level of reinvestment of

maturing funds can be predicted with a high level of certainty. The Bank sets limits on the minimum proportion of

maturing funds available to meet such calls and on the minimum level of interbank and other borrowing facilities that

should be in place to cover withdrawals at unexpected levels of demand.

Financial statement

www.raiffeisenbank.ba

155


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

35. RIZIK LIKVIDNOSTI (NASTAVAK)

‘000 KM Na poziv

IMOVINA

Novac i sredstva kod bana-

156 www.raiffeisenbank.ba

0-6

mjeseci

6-12

mjeseci

Preko 1

godine

Nedefinirano

dospijeće

Rezervisanja

Ukupno

ka 16.328 - - - 73.792 - 90.120

Obavezna rezerva kod Cen-

tralne banke - - - - 338.183 - 338.183

Plasmani kod drugih banaka - 651.846 - 496 - (13) 652.329

Dati kreditii i potraživanja 33.905 316.091 267.186 778.586 - (63.770) 1.331.998

Kupljeni krediti koji se drže

do dospijeća - - - 717 - (670) 47

Kapitalna ulaganja - - - - 2.672 (188) 2.484

Ostala imovina - - - - 36.929 (707) 36.222

Nekretnine i oprema - - - - 42.513 (423) 42.090

Ukupna imovina (1) 50.233 967.937 267.186 779.799 494.089 (65.771) 2.493.473

OBAVEZE

Obaveze prema drugim

bankama 529 77.379 58.935 446.424 10.208 - 593.475

Obaveze prema klijentima 844.810 303.158 196.192 228.053 54.808 - 1.627.021

Rezervisanja - - - - - 18.239 18.239

Ostale obaveze 393 4.809 - - 18.092 - 23.294

Subordinirani dug - - - 62.000 - - 62.000

Ukupne obaveze (2) 845.732 385.346 255.127 736.477 83.108 18.239 2.324.029

BILANSNA NEUSKLAÐENOST

LIKVIDNOSTI NA DAN

31. decembra 2005. (795.499) 582.591 12.059 43.322 410.981 (84.010) 169.444

Ukupna imovina na dan

31. decembra 2004. 37.798 853.301 240.338 572.912 391.917 (56.271) 2.039.995

Ukupne obaveze na dan

31. decembra 2004.

715.424 386.338 275.038 459.305 58.114 12.023 1.906.242

UKUPNA NEUSKLAÐENOST

LIKVIDNOSTI NA DAN

31. decembra 2004. (677.626) 466.963 (34.700) 113.607 333.803 (68.294) 133.753


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

35. LIQUIDITY RISK (CONTINUED)

‘000 KM

ASSETS

On

demand

0-6

months

6-12

months

Over 1

year

Non

interest

bearing

Provisions

Total

Cash and due from banks 16,328 - - - 73,792 - 90,120

Due from the Central

Bank - - - - 338,183 - 338,183

Placements with other

banks - 651,846 - 496 -

(13) 652,329

Loans and receivables 33,905 316,091 267,186 778,586 - (63,770) 1,331,998

Purchased loans - - - 717 - (670) 47

Investments - - - - 2,672 (188) 2,484

Other assets - - - - 36,929 (707) 36,222

Fixed and intangible

assets - - - - 42,513 (423) 42,090

Total assets (1) 50,233 967,937 267,186 779,799 494,089 (65,771) 2,493,473

LIABILITIES

Due to other banks 529 77,379 58,935 446,424 10,208 - 593,475

Due to customers 844,810 303,158 196,192 228,053 54,808 - 1,627,021

Provisions - - - - - 18,239 18,239

Other liabilities 393 4,809 - - 18,092 - 23,294

Subordinated debt - - - 62,000 - - 62,000

Total liabilities (2) 845,732 385,346 255,127 736,477 83,108 18,239 2,324,029

TOTAL LIQUIDITY

MISMATCH AS OF

31 December 2004 (795,499) 582,591 12,059 43,322 410,981 (84,010) 169,444

Total assets as of

31 December 2003 37,798 853,301 240,338 572,912 391,917 (56,271) 2,039,995

Total liabilities as of

31 December 2003 715,424 386,338 275,038 459,305 58,114 12,023 1,906,242

TOTAL LIQUIDITY

MISMATCH AS OF

31 DECEMBER 2003 (677,626) 466,963 (34,700) 113,607 333,803 (68,294) 133,753

Financial statement

www.raiffeisenbank.ba

157


Finansijski izvještaji

Napomene uz finansijske izvještaje

31. decembar 2005. i 2004. godine

(Svi iznosi izraženi su u hiljadama KM)

36. KREDITNI RIZIK

Banka je izložena kreditnom riziku, koji predstavlja rizik nemogućnosti druge strane da izmiri cijeli iznos obaveze po

dospijeću. Banka razvrstava kreditni rizik utvrđujući limite za iznos prihvaćenog rizika koje očekuje da će nastati u vezi

s jednim kreditnim primaocem ili grupom kreditnih primatelja te u pojedinim privrednim granama. Banka redovno

prati navedene rizike i preispituje ih jednom godišnje ili češće.

Banka upravlja kreditnim rizikom redovnom analizom sposobnosti postojećih i potencijalnih zajmoprimatelja da

otplate svoje obaveze po glavnici i kamatama i promjenom kreditnih limita po potrebi. Pored toga, svojom izloženošću

kreditnom riziku djelimično upravlja i pribavljanjem kolaterala, te korporativnim i ličnim garancijama.

Preuzete obaveze na temelju izdatih akreditiva. Dokumentovani akreditivi, koji predstavljaju pisane neopozive obaveze

koje je Banka preuzela u ime klijenta (ovlastitelj) a po kojima je treća strana (korisnik) ovlaštena povlačiti sredstva kod

Banke do utvrđenog iznosa pod utvrđenim uslovima, osigurani su instrumentima osiguranja u obliku isporuka dobara

za koje su izdani, pa time predstavljaju i značajno manji rizik. Potrebna novčana sredstva za otvorene akreditive

značajno su manja od preuzetih obaveza po izdanim garancijama ili stand-by akreditivima. Međutim, Banka knjiži

rezervisanja za navedene instrumente po istoj osnovi kao i za kredite.

Obaveze za kreditiranjem, po neiskorištenim odobrenim kreditima, neiskorištenim prekoračenjima i odobrenim

prekoračenjima. Osnovna svrha obaveza za kreditiranjem je osigurati raspoloživost sredstava na zahtjev klijenta.

Obaveze za kreditiranjem predstavljaju neiskorišteni dio odobrenih kredita, garancija ili stand-by akreditiva. Obaveze

Banke za kreditiranjem predstavljaju preuzete obaveze po kreditima ili garancijama, neiskorištena i odobrena

prekoračenja. Obaveze za kreditiranjem ili temeljem garancija koje je izdala Banka a koje su vezane uz određene

kriterije kreditiranja kojima klijenti trebaju udovoljavati (uključivši uslov da ne dođe do pogoršanja solventnosti

klijenta) predstavljaju opozive obaveze. Neopozive obaveze postoje po osnovi odobrenih prekoračenja jer su one

proizašle na temelju uslova koji su utvrđeni ugovorima o kreditu.

37. ODOBRAVANJE FINANSIJSKIH IZVJEŠTAJA

Ove odvojene finansijske izvještaje odobrio je Upravni odbor dana 20. januara 2006. godine.

Potpisali u ime Uprave:

Predsjednik Uprave Direktor finansijskog sektora

Edin Muftić Djula Hasanbegović

158 www.raiffeisenbank.ba


Notes to the financial statements

31 December 2005 and 2004

(all amounts are expressed in thousands of KM)

36. CREDIT RISK

The Bank takes on exposure to credit risk which is the risk upon credit approval and when counterparty will be unable

to pay amounts in full when due. The Bank structures the levels of credit risk it undertakes by placing limits on the

amount of risk accepted in relation to one borrower, or groups of borrowers, and to industry segments. Such risks are

monitored on a revolving basis and subject to an annual or more frequent review.

Exposure to credit risk is managed through regular analysis of the ability of borrowers and potential borrowers to

meet interest and capital repayment obligations and by changing these lending limits where appropriate. Exposure to

credit risk is also managed in part by obtaining collateral and corporate and personal guarantees.

Commitments arising from the issuance of letters of credit. Documentary letters of credit, which are written irrevocable

undertakings by the Bank on behalf of a customer (mandatory) authorising a third party (beneficiary) to draw drafts on

the Bank up to a stipulated amount under specific terms and conditions, are collateralised by the underlying shipments

of goods to which they relate and therefore have significantly less risk. Cash requirements under open letters of credit

are considerably less than the commitments under issued guarantees or stand-by letters of credit. However, the Bank

records provisions against these instruments on the same basis as is applicable to loans.

Commitments to extend credit, undrawn loan commitments, unutilised overdrafts and approved overdraft loans. The

primary purpose of commitments to extend credit is to ensure that funds are available to a customer as required.

Commitments to extend credit represent unused portions of authorisations to extend credits in the form of loans,

guarantees or stand-by letters of credit. Commitments to extend credit issued by the Bank represent issued loan

commitments or guarantees, undrawn portions of and approved overdrafts loans. Commitments to extend credit or

guarantees issued by the Bank which are contingent upon customers maintaining specific credit standards (including

the condition that a customer’s solvency does not deteriorate) are revocable commitments. Irrevocable commitments

represent undrawn portions of authorised loans and approved overdraft facilities because they result from contractual

terms and conditions in the credit agreements.

37. APPROVAL OF THE FINANCIAL STATEMENTS

These separate financial statements were approved by the Management Board on 20 January 2006.

Signed on behalf of the Management Board:

President of the Management Board Director of the Finance Department

Edin Muftić Djula Hasanbegović

Financial statement

www.raiffeisenbank.ba

159


Izdavač:

Published by: Raiffeisen BANK d.d. Bosna i Hercegovina

Dizajn i grafika:

Design & Graphic art: Foto Art d.o.o. Sarajevo

Fotografija:

Photo by: Haris Memija

160 www.raiffeisenbank.ba

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