Annual Report 2010 - ProCredit Bank

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16 Annual Report 2010 people overcome the rising cost of utilities. In total, we disbursed 1,836 housing improvement loans during the year; with RSD 4.1 billion (EUR 39.2 million) outstanding, this segment represents 8.5% of the overall year-end portfolio. Deposits and Other Banking Services 11 Turmoil in the banking sector and the many problems facing banks in Serbia have heightened clients’ awareness of the importance of their bank’s “family tree”. Despite the ongoing financial crisis and the downward trend in interest rates on deposits, we managed to retain most of our depositors. Evidently, they appreciate the stability, safety and high level of professional service offered by ProCredit Bank, rather than seeking the highest interest rate on the market. Consequently, deposit volumes declined only slightly, by 2.02% to RSD 31.7 billion (EUR 300 million). Deposits from business customers grew by 5.1%, while deposits from private individuals decreased by 7.6%. Nevertheless, private individuals continued to hold the majority of customer deposits with a share of 52.8%. Reflecting the trust that our clients have in the long-term stability of the bank, term deposits made up the bulk of the total deposit base (61.2%), followed by current accounts (31%) and regular savings accounts (7.8%). With regard to our other banking services, in 2010 we focused on improving quality rather than quantity. We analysed the utilisation of our ATMs, and started to relocate those that had been underused. We also installed nine new machines bringing the total number to 151. The bank also expanded its network of account statement printers to 42, and the number of POS terminals operated by our business customers rose to 538. At the end of the year, nearly 41,000 cards issued by ProCredit Bank were in circulation, 67.5% of which were being used at least once a month. In its money transfer business, the bank carried out domestic transfers with a volume of RSD 425 billion (EUR 4.02 billion) in 2010, a decrease of 1.45%. However, the volume of international transfers increased by 6.0%, totalling RSD 48.2 billion (EUR 457 million). Financial Results Despite the many constraining factors, ProCredit Bank’s total assets increased by 6.81% to RSD 71 billion (EUR 672.1 million) in 2010. The large proportion of liquid assets – 30.7% of total assets – was mostly due to the high level of mandatory reserves that the bank is required to maintain at the central bank. The gross loan portfolio, including 11 The information provided in this section does not include the deposits or collateral provided by ProCredit Holding. Customer Deposits Number of Customer Deposits – Breakdown by Size* Volume (in EUR million) Number (in ’000) 450 900 1.3% 0.14% 400 350 800 700 4.4% o.09% 300 250 200 150 100 500 0 Jun 06 Dec Jun 07 Dec Jun 08 Dec Jun 09 Dec Jun 10 Dec 600 500 400 300 200 100 0 11.7% 82.4% Term Savings Sight Total number < EUR 100 EUR 10,001 – EUR 50,000 EUR 101 – EUR 1,000 EUR 50,001 – EUR 100,000 EUR 1,001 – EUR 10,000 > EUR 100,000 * 31 Dec 2010
Management Business Review 17 Domestic Money Transfers International Money Transfers Volume (in EUR million) Number (in ’000) Volume (in EUR million) Number (in ’000) 3,000 12,000 600 120 2,500 10,000 500 100 2,000 8,000 400 80 1,500 6,000 300 60 1,000 4,000 200 40 500 2,000 100 20 0 Jan– Jun 06 Jul– Dec Jan– Jun 07 Jul– Dec Jan– Jun 08 Jul– Dec Jan– Jun 09 Jul– Dec Jan– Jun 10 Jul– Dec 0 0 Jan– Jun 06 Jul– Dec Jan– Jun 07 Jul– Dec Jan– Jun 08 Jul– Dec Jan– Jun 09 Jul– Dec Jan– Jun 10 Jul– Dec 0 Incoming Outgoing Number Incoming Outgoing Number
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 Directors
Page 7 and 8: The Bank and its Shareholders 7 Com
Page 9 and 10: Special Feature 9 of life, ProCredi
Page 11 and 12: Management Business Review 11 Polit
Page 13 and 14: Management Business Review 13
Page 15: Management Business Review 15 the b
Page 19 and 20: Management Business Review 19 partn
Page 21 and 22: Risk Management 21 Credit Risk Mana
Page 23 and 24: Risk Management 23 bia, like the ot
Page 25 and 26: Risk Management 25 In 2010 the bank
Page 27 and 28: Branch Network 27 tegic, often dens
Page 29 and 30: Organisation, Staff and Staff Devel
Page 31 and 32: Business Ethics and Environmental S
Page 33 and 34: The ProCredit Group: Responsible Ne
Page 35 and 36: The ProCredit Group: Responsible Ne
Page 37 and 38: ProCredit in Eastern Europe 37 Bela
Page 39 and 40: ProCredit in Eastern Europe 39 Name
Page 41 and 42: Our Clients 41 Katalin Muzlai, Catt
Page 43 and 44: Our Clients 43 Aleksandra Zoric Krz
Page 45 and 46: Financial Statements 45
Page 47 and 48: Financial Statements 47
Page 49 and 50: Financial Statements 49 Consolidate
Page 51 and 52: Financial Statements 51 Group Cash-
Page 53 and 54: Financial Statements 53 Gains and l
Page 55 and 56: Financial Statements 55 N) Property
Page 57 and 58: Financial Statements 57 Y) Comparat
Page 59 and 60: Financial Statements 59 Table below
Page 61 and 62: Financial Statements 61 Individual
Page 63 and 64: Financial Statements 63 2010 2009 I
Page 65 and 66: Financial Statements 65 (b) Loans a
Page 67 and 68:
Financial Statements 67 2010 2009 P
Page 69 and 70:
Financial Statements 69 31 December
Page 71 and 72:
Financial Statements 71 Assessment
Page 73 and 74:
Financial Statements 73 Subordinate
Page 75 and 76:
Financial Statements 75 6. Net fee
Page 77 and 78:
Financial Statements 77 Loans and a
Page 79 and 80:
Financial Statements 79 22. Other a
Page 81 and 82:
Financial Statements 81 27. Subordi
Page 83 and 84:
Financial Statements 83 At 31 Decem
Page 85 and 86:
Contact Addresses 85 Sabac 1 Cara D
Page 87:
Contact Addresses 87
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Annual Report 2010 - ProCredit Bank

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