Annual Report 2010 - ProCredit Bank

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10 Annual Report 2010 Special Feature Tailored services for SMEs in the Romanian economic environment In the second year of the financial crisis, Romanian companies have been finding it increasingly difficult to operate. Facing dramatic drops in liquidity and profits as well as a stringent need to cut costs, many entrepreneurs have reduced spending and some have even stopped investing in their businesses altogether. To help them overcome these difficulties, ProCredit Bank introduced a new programme to support small and medium-sized enterprises in 2010. This move served to reinforce our commitment to this key sector and provided opportunities for companies in Romania at a time when they most needed them. Despite the country’s dire economic situation, ProCredit Bank believed it was possible to help stimulate development and growth in the SME sector. Therefore, we sought ways to better respond to the needs of entrepreneurs, launching several campaigns throughout the year to facilitate access to our financing and banking services. From March to September 2010, we reduced the costs of the banking services currently used by entrepreneurs, helping companies to boost their efficiency and focus more on their core business. With other financial institutions reluctant to lend in the wake of the crisis, ProCredit Bank felt that it should continue to support companies. We therefore reduced our analysis fees for investments and working capital loans and helped entrepreneurs to put together solid business plans to restart their operations. The agricultural sector, which we have supported for years, was severely hit by the crisis. In response, starting in June 2010 we waived fees for agricultural investment loans for five months. With the support of experienced client advisers, who provided assistance in developing a solid business strategy, agricultural clients submitted a total of 7,534 loan applications and ProCredit disbursed EUR 33.9 million in 2010. To address the toughening market conditions for small and medium-sized companies, in October we launched a campaign offering new solutions, including loan refinancing measures that helped
entrepreneurs to better manage their liquidity by consolidating their repayments into one monthly instalment. Longer maturity periods also granted SMEs greater access to additional funds for investments and working capital, and inspired them to start thinking about growth once again. Throughout 2010, we remained true to our mission of being the “house bank” for SMEs, offering complete services adapted to the characteristics of each business and to the rather unstable market conditions. In our lending activities we will continue to focus on small and medium-sized companies, as the good results we have achieved so far validate our strategy. Bearing in mind the lessons of recent years, we are confident that we will continue to have a positive impact on the small and medium-sized enterprise sector. Special Feature 11
Page 1 and 2: Annual Report 2010
Page 3 and 4: Contents 3 Mission Statement 4 Lett
Page 5 and 6: Letter from the Board of Administra
Page 7 and 8: Commerzbank is Germany’s leading
Page 9: The Bank and its Shareholders 9
Page 13 and 14: Political and Economic Environment
Page 15 and 16: maintain relationships with potenti
Page 17 and 18: Business Loan Portfolio - Breakdown
Page 19 and 20: Domestic Money Transfers Volume (in
Page 21 and 22: Management Business Review 21
Page 23 and 24: position to detect risks and take t
Page 25 and 26: sometimes engages in transactions w
Page 27 and 28: NRA process does management give it
Page 29 and 30: where they could make the greatest
Page 31 and 32: outside Romania at the internationa
Page 33 and 34: These six values represent the back
Page 35 and 36: The ProCredit Group: Responsible Ne
Page 37 and 38: The ProCredit Group: Responsible Ne
Page 39 and 40: Switzerland Germany Italy Czech Rep
Page 41 and 42: Name ProCredit Bank Albania ProCred
Page 43 and 44: Rodica and Ciprian Lazar, Producers
Page 45 and 46: Mr. Valeriu Dacius Masalar, 35, sta
Page 47 and 48: Financial Statements 47
Page 49 and 50: Statement of Financial Position As
Page 51 and 52: Statement of Cash Flows For the yea
Page 53 and 54: assets and liabilities denominated
Page 55 and 56: In assessing collective impairment
Page 57 and 58: Given the nature of the Bank’s op
Page 59 and 60: higher than EUR 30,000. These loans
Page 61 and 62:
The following table shows the inter
Page 63 and 64:
maintain a balance between continui
Page 65 and 66:
Compliance with Bank standards is s
Page 67 and 68:
6. Financial assets and liabilities
Page 69 and 70:
Deferred taxes The deferred tax ass
Page 71 and 72:
Operating leases Non-cancellable op
Page 73 and 74:
26. Reserves In EUR 31 Dec 2010 31
Page 75 and 76:
Financial Statements 75
Page 77 and 78:
Baia Mare Branch 9 Unirii Blvd. Bai
Page 79:
Contact Addresses 79
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Annual Report 2010 - ProCredit Bank

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