Annual Report 2010 - ProCredit Bank

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6 Annual Report 2010 The Bank and its Shareholders ProCredit Bank Serbia is a member of the ProCredit group, which is led by its Frankfurtbased parent company, ProCredit Holding. ProCredit Holding is the majority owner of ProCredit Bank Serbia and holds 83.3% of the shares. ProCredit Bank Serbia was founded in April 2001 as Micro Finance Bank by an alliance of international development-oriented investors, many of which are shareholders in ProCredit Holding today. Their goal was to establish a new kind of financial institution that would meet the demand of small and very small businesses in a socially responsible way. The primary aim was not shortterm profit maximisation but rather to deepen the financial sector and contribute to long-term economic development while also achieving a sustainable return on investment. Over the years, ProCredit Holding has consolidated the ownership and management structure of all the ProCredit banks to create a truly global group with a clear shareholder structure and to bring to each ProCredit institution all the best practice standards, synergies and benefits that this implies. Today’s shareholder structure of ProCredit Bank Serbia is outlined below. Its current share capital is EUR 82.2 million. Shareholder (as of Dec. 31, 2010) ProCredit Holding Commerzbank AG Sector Headquarters Share Paid-in Capital (in EUR million) 68.5 13.7 Investment Banking Germany Germany 83.33% 16.67% Total Capital 100% 82.2 ProCredit Holding is the parent company of a global group of 21 ProCredit banks. ProCredit Holding was founded as Internationale Micro Investitionen AG (IMI) in 1998 by the pioneering development finance consultancy company IPC. ProCredit Holding is committed to expanding access to financial services in developing countries and transition economies by building a group of banks that are the leading providers of fair, transparent financial services for very small, small and medium-sized businesses as well as the general population in their countries of operation. In addition to meeting the equity needs of its subsidiaries, ProCredit Holding guides the development of the ProCredit banks, provides their senior management, and supports the banks in all key areas of activity, including banking operations, human resources and risk management. It ensures that ProCredit corporate values, international best practice procedures and Basel II risk management principles are implemented groupwide in line with standards also set by the German supervisory authorities. IPC is the leading shareholder and strategic investor in ProCredit Holding. IPC has been the driving entrepreneurial force behind the ProCredit group since the foundation of the banks. ProCredit Holding is a public-private partnership. In addition to IPC and IPC Invest (the investment vehicle of the staff of IPC and ProCredit), the other private shareholders of ProCredit Holding include the Dutch DOEN Foundation, the US pension fund TIAA-CREF, the US Omidyar-Tufts Microfinance Fund and the Swiss investment fund responsAbility. The public shareholders of ProCredit Holding include KfW (the German promotional bank), IFC (the private sector arm of the World Bank), FMO (the Dutch development bank), BIO (the Belgian Investment Company for Developing Countries) and Proparco (the French Investment and Promotions company for Economic Cooperation). ProCredit Holding has an investment grade rating (BBB-) from Fitch Ratings Agency. As of the end of 2010, the equity base of the ProCredit group is EUR 428 million. The total assets of the ProCredit group are EUR 5.2 billion.
The Bank and its Shareholders 7 Commerzbank is Germany’s leading bank for private and corporate customers. Following the merger of Dresdner Bank and Commerzbank in May 2009, its customers will in future have access to around 1,200 branches, the largest branch network of any German private bank. Commerzbank has approximately 15 million private and corporate customers worldwide, who can now enjoy a broad and attractive range of Commerzbank products and advisory services. Commerzbank is a strong and reliable partner for corporate customers, particularly export-dependent small and medium-sized firms (SMEs). It also manages major corporate customers and institutions in Europe as well as multinational enterprises. In addition, Commerzbank is a leading export financier, supporting its customers in Germany and around the world. Commerzbank AG is the parent company of a global financial services group. The group’s operating business is organised into six segments providing each other with mutually beneficial synergies: Private Customers, Mittelstandsbank (SME bank), Central & Eastern Europe, Corporates & Markets, Asset Based Finance and Portfolio Restructuring Unit. Today some 30% of German foreign trade is channelled through the new Commerzbank, the leading export financier for the German industry. The bank is directly represented in more than 50 countries as well as through a network of more than 6,000 banking relationships worldwide. Commerzbank is well positioned in Central and Eastern Europe, serving more than 4 million customers in the region. In Poland the bank holds a 70% stake in BRE Bank, Poland’s thirdlargest financial institution. In Ukraine it is the majority shareholder of Bank Forum – a universal bank with a nationwide network. Currently Commerzbank operates in more than ten countries in the region.
Page 1 and 2: Annual Report 2010
Page 3 and 4: Contents 3 Mission Statement 4 Lett
Page 5: Letter from the Board of Directors
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 and 16: Management Business Review 15 the b
Page 17 and 18: Management Business Review 17 Domes
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
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Financial Statements 63 2010 2009 I
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Financial Statements 65 (b) Loans a
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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
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Financial Statements 75 6. Net fee
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Financial Statements 77 Loans and a
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Financial Statements 79 22. Other a
Page 81 and 82:
Financial Statements 81 27. Subordi
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Financial Statements 83 At 31 Decem
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Contact Addresses 85 Sabac 1 Cara D
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Contact Addresses 87
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Annual Report 2010 - ProCredit Bank

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