Annual Report - Raiffeisen Bank Kosovo JSC

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Financial Statements Raiffeisen Bank Kosovo 2009 Notes to the separate financial statements for the year ended 31 December 2009 1. Corporate Information The 100% shareholder of Raiffeisen Bank Kosovo J.S.C. (“the Bank”) is Raiffeisen International Bank-Holding AG (RI). The ultimate parent of the Bank is Raiffeisen Zentralbank Osterreich AG (RZB). At the date of foundation of the Bank and up to February 2003 the Bank was called the “American Bank of Kosovo”. During February 2003 the shareholders of the Bank decided to change the name of the Bank to Raiffeisen Bank Kosovo J.S.C. The change of the name was approved by the Central Bank of Republic of Kosovo (the “CBK”, formerly known as Banking and Payments Authority of Kosovo - BPK) on 28 April 2003. The Bank operates under a banking licence issued by the CBK on 8 November 2001. The Bank’s principal business activities are commercial and retail banking operations within Kosovo. As at 31 December 2009 the Bank has 9 branches and 41 sub-branches within Kosovo (31 December 2008: 9 branches and 40 sub-branches). The Bank’s registered office is located at the following address: UCK Street No 51, 10000 Prishtina, Republic of Kosovo 2. Adoption Of New And Revised International Financial Reporting Standards 2.1 Standards and Interpretations effective in the current period The following amendments to the existing standards issued by the International Accounting Standards Board and interpretations issued by the International Financial Reporting Interpretations Committee are effective for the current period: • IFRS 8 “Operating Segments” (effective for annual periods beginning on or after 1 January 2009), • Amendments to IFRS 7 “Financial Instruments: Disclosures” - Improving disclosures about financial instruments (effective for annual periods beginning on or after 1 January 2009), • Amendments to IFRS 1 “First-time Adoption of IFRS” and IAS 27 “Consolidated and Separate Financial Statements” – Cost of investment in a subsidiary, jointly-controlled entity or associate (effective for annual periods beginning on or after 1 January 2009), • Amendments to various standards and interpretations resulting from the Annual quality improvement project of IFRS published on 22 May 2008 (IAS 1, IFRS 5, IAS 8, IAS 10, IAS 16, IAS 19, IAS 20, IAS 23, IAS 27, IAS 28, IAS 29, IAS 31, IAS 34, IAS 36, IAS 38, IAS 39, IAS 40, IAS 41) primarily with a view to removing inconsistencies and clarifying wording (most amendments are to be applied for annual periods beginning on or after 1 January 2009), 46 www.raiffeisen-kosovo.com Introduction Management Board Organisational Structure Vision and Mission RZB and RI
Raiffeisen Bank Kosovo 2009 Financial Statements • Amendments to IAS 32 “Financial Instruments: Presentation” and IAS 1 “Presentation of Financial Statements” – Puttable financial instruments and obligations arising on liquidation (effective for annual periods beginning on or after 1 January 2009), • IAS 1 (revised) “Presentation of Financial Statements” – A revised presentation (effective for annual periods beginning on or after 1 January 2009), • IAS 23 (revised) “Borrowing Costs” (effective for annual periods beginning on or after 1 January 2009), • Amendments to IFRS 2 “Share-based Payment” – Vesting conditions and cancellations (effective for annual periods beginning on or after 1 January 2009), • Amendments to IFRIC 9 “Reassessment of Embedded Derivatives” and IAS 39 “Financial Instruments: Recognition and Measurement” - Embedded Derivatives (effective for annual periods ending on or after 30 June 2009), • IFRIC 13 “Customer Loyalty Programmes” (effective for annual periods beginning on or after 1 July 2008), • IFRIC 15 “Agreements for the Construction of Real Estate” (effective for annual periods beginning on or after 1 January 2009), • IFRIC 16 “Hedges of a Net Investment in a Foreign Operation” (effective for annual periods beginning on or after 1 October 2008), The adoption of these amendments to the existing standards and interpretations has not led to any significant changes in the Bank’s accounting policies. 2.2 Standards and Interpretations in issue but not yet effective At the date of authorisation of these financial statements the following standards, revisions and interpretations were in issue but not yet effective: • IFRS 9 “Financial Instruments” (effective for annual periods beginning on or after 1 January 2013), • IFRS 3 (revised) “Business Combinations” (effective for annual periods beginning on or after 1 July 2009), • IFRS 1 (revised) “First-time Adoption of IFRS” (effective for annual periods beginning on or after 1 July 2009), • Amendments to IFRS 1 “First-time Adoption of IFRS”- Additional Exemptions for First-time Adopters (effective for annual periods beginning on or after 1 January 2010), • Amendments to IFRS 2 “Share-based Payment” - Group cash-settled share-based payment transactions (effective for annual periods beginning on or after 1 January 2010), • Amendments to IAS 24 “Related Party Disclosures” Simplifying the disclosure requirements for government-related entities and clarifying the definition of a related party (effective for annual periods beginning on or after 1 January 2011), • Amendments to IAS 27 “Consolidated and Separate Financial Statements” (effective for annual periods beginning on or after 1 July 2009), • Amendments to IAS 32 “Financial Instruments: Presentation” – Accounting for rights issues (effective for annual periods beginning on or after 1 February 2010) Glosary Macroeconomic Environment Overview Segment Reports Financial Statements Addresses www.raiffeisen-kosovo.com 47
Page 1 and 2: Annual Report 2009
Page 3 and 4: Raiffeisen Bank Kosovo 2009 Content
Page 5 and 6: Raiffeisen Bank Kosovo 2009 Introdu
Page 7 and 8: Raiffeisen Bank Kosovo 2009 The Man
Page 9 and 10: Raiffeisen Bank Kosovo 2009 Vision
Page 11 and 12: Raiffeisen Bank Kosovo 2009 RZB and
Page 13 and 14: Raiffeisen Bank Kosovo 2009 Glossar
Page 15 and 16: Raiffeisen Bank Kosovo 2009 The Mac
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Page 19 and 20: Raiffeisen Bank Kosovo 2009 Raiffei
Page 21 and 22: Raiffeisen Bank Kosovo 2009 Raiffei
Page 23 and 24: Raiffeisen Bank Kosovo 2009 Segment
Page 39 and 40: Raiffeisen Bank Kosovo 2009 Financi
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Page 87 and 88: Raiffeisen Bank Kosovo 2009 Address
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Page 91 and 92: RZB Group in Europe

Annual Report - Raiffeisen Bank Kosovo JSC

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