Annual Report 2012 - Raiffeisen Bank Kosovo JSC

Report of the Management Board
2012 was a very good year for Raiffeisen Bank Kosovo.
The country’s macroeconomic environment was better
than many other countries in Southeastern Europe, and
the estimated increase in Gross Domestic Product was an
impressive 3 per cent. This contributed to the bank achieving
all of its key performance indicators in 2012.
Despite the positive economic indicators in Kosovo, we took
a prudent and sensible approach to lending in all customer
segments during 2012, and our total loan portfolio remained
unchanged compared with the volume recorded at the end
of 2011. This cautious approach is reflected in the excellent
quality of our loan book, a reduction in our non-performing
loans and the lowest increase in several years in net
provisioning for impairment losses, namely by € 4.6 million.
We consistently had over € 500 million of customer deposits
throughout 2012, a clear demonstration of the trust our
customers place in our brand and confirmation of their
satisfaction with our branch service and distribution network.
A high priority in 2012 was the development of electronic
banking services in areas such as ATMs, point of sale
terminals, internet and telephone banking. We improved
the functionality, affordability and access to these services,
and usage by our customers increased significantly. Further
development of these services will be a high priority in 2013
as part of our objective to make banking services accessible
to all parts of the country at all times of the day.
Improving customer service was another high priority in 2012, and our developments in this area were not just focused
on activities in our branches but also on the efficiency of our back office processes and procedures. Our focus on
this area is a high priority as part of our strategic objective to offer the best service in Kosovo, and we will continue
to invest significantly in this area of operations. To help us achieve this objective, we engaged a recognized global
expert in market research to conduct an extensive survey amongst our customers. The objective is to gain real indepth
understanding of our customers’ needs, likes and dislikes across a wide range of issues such as products, prices,
distribution network and brand image. These findings will form the basis of a significant customer focused development
program during 2013 and beyond.
Finally, on behalf of the Management Board I would like to thank all our staff for achieving another excellent year. None
of this would be possible without their skills, commitment, loyalty and dedication, and it is their strengths and abilities that
give me absolute confidence that 2013 will be another very successful year.
On behalf of the Management Board,
Robert Wright, Chairman
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Addresses Glossary Financial Statements Segment Reports Overview Macroeconomic Environment RBI Vision and Mission Management Board Introduction