Letno poročilo 2007 - UniCredit Banka Slovenija dd

unicreditbank.si

Letno poročilo 2007 - UniCredit Banka Slovenija dd

Izkušnja umetnostiLeto 2007 je bilo odloËilno za mednarodne dejavnosti banke napodroËju kulture, saj smo bili aktivni na vseh obmoËjih, na katerihdelujemo.Verjamemo, da lahko kultura, ko jo razumemo kot strateški vir, prinesenovo vrednost in pospeši nastanek novih idej. Prav nove ideje pa sotrdna osnova za inovacije ter trajnostni družbeni in ekonomski razvoj.OdloËili smo se, da se v letošnjem letnem poroËilu raje osredotoËimona mednarodne dogodke v okviru našega sodelovanja s pomembnimipartnerji na podroËju umetnosti in kulture, kot na posamezne koseiz naše kolekcije. Med temi dogodki velja posebej izpostaviti tiste, kismo jih izpeljali v sodelovanju z oddelkom za izobraževanje Muzejasodobne umetnosti Castello di Rivoli.Pobude, ki so k doživljanju umetnosti pritegnile širšo javnost,ponazarjajo pomen, ki ga skupina UniCredit Group pripisujepospeševanju aktivnega dialoga z lokalnimi skupnostmi, v katerihdelujemo. Velika sreËanja, ki so prikazana na slikah v poroËilu, sopotekala na mestnih trgih in v muzejih in se jih je udeležilo na tisoËeljudi. Kar vidite je torej enkraten, spontano ustvarjen izraz veË tisoËrok, ki so se združile skupaj v veselem in kreativnem koncertu.Kontakt z mednarodnimi umetniki in vodilnimi mentorji na podroËjukulture skozi razliËne jezike, stile in tehnike dokazuje, da umetnostspodbuja razvoj odnosov in kognitivnih sposobnosti ter vsehpotencialov posameznika. Predvsem pa umetnost ustvarja pomembnopozitivno energijo, ki povezuje ljudi, premošËa razlike in podpiradialog. Umetnost ponuja izjemen repertoar za uËenje, raziskovanje,eksperimentiranje in pojasnjevanje sedanjosti z namenom graditiprihodnost.Umetnost povezuje ljudi.Zato pravimo: UMETNOST GOVORI.2007 Letno poroËilo


Kazalo / ContentsPredstavitev banke 1Nagovor predsednika nadzornega sveta 4Nagovor predsednika uprave 6Predstavitev UniCredit Banka Slovenija d.d. 10Organi upravljanja banke 11Organizacijska shema 12Poslovna mreža 13Dosežki in dogodki v letu 2007 14Intruduction 101Preface by the Chairman of the Supervisory Board 102Statement by the Chairman of the Management Board 104About UniCredit Banka Slovenija d.d. 108Governing Bodies 109Organizational Structure 110Branch Network 111Achievements and Events in 2007 112Poslovno poroËilo 17Gospodarsko okolje v letu 2007 17Poslanstvo, vizija in strategija 19FinanËni rezultati 22Poslovanje banke na razliËnih segmentih 27Poslovanje s prebivalstvom in malimi podjetji 27Poslovanje s podjetji 29Zakladništvo 30Podpora prodaji 32Izzivi leta 2008 33Obvladovanje poslovnih tveganj 35Finance in tržna tveganja 35Upravljanje s tveganji 35Informacijska podpora poslovanju 36Družbena odgovornost 39Business Report 115Economic Environment in 2007 115Mission, Vision and Strategy 117Financial Results 120Bank’s Segment Performance Review 125Retail and Small Business Banking 125Corporate Banking 127International Markets 128Sales Support 129Challenges of the Year 2008 130Managing Business Risks 133Finance and Market Risk 133Risk Management 133Information Technology Support 134Social Responsibility 137PoroËilo nadzornega sveta 45Report from the Supervisory Board 143Izjava odgovornosti 47Statement of Responsibility 145PoroËilo neodvisnega revizorja 49Report of Auditors 147RaËunovodski izkazi 50Accounting Report 148BanËna tveganja 84Risk Report 182UniCredit Bank · 2007 Letno poroËilo


Predstavitev bankeNagovor predsednika nadzornega svetaPreimenovanjebanke iz BankAustria Creditanstaltv UniCredit Bankje imelo moËnopodporo zaposlenih instrank, kar nakazujejotudi prvi rezultatiopravljene raziskaveo zavedanju blagovneznamke.Spoštovani,za nami je uspešno leto.Tudi po vaši zaslugi.Navkljub zahtevnim pogojem na trguin številnim notranjim spremembam jeUniCredit Banka Slovenija d.d. zabeležilazelo uspešno leto 2007. Z zadovoljstvomlahko poroËamo, da je banka kljubštevilnim izzivom dosegla 40-odstotnopoveËanje dobiËka po obdavËitvi vprvem letu po uvedbi evra in požela tudiprve pozitivne rezultate preimenovanja vSloveniji. Takšni rezultati vodijo do dvehpomembnih ugotovitev:PrviË, UniCredit Banka Slovenija d.d. jekljub uvedbi evra in izgubi arbitražnihposlov dosegla odliËne poslovne rezultate.DrugiË, preimenovanje banke iz BankAustria Creditanstalt v UniCredit Bankje imelo moËno podporo zaposlenih instrank, kar nakazujejo tudi prvi rezultatiopravljene raziskave o zavedanju blagovneznamke.Nova blagovna znamka, ki jo podpiranajveËja mednarodna banËna mreža vregiji Srednje in Vzhodne Evrope, je kotkaže ››obsojena« na uspeh.Poslovno mrežo skupine UniCredit Grouptrenutno sestavlja 3.700 poslovalnicin podružnic, v katerih veË kot 76.000uslužbencev skrbi za približno 27milijonov strank.Preimenovanje banke iz Bank AustriaCreditanstalt v UniCredit Bank je imelomoËno podporo zaposlenih in strank, karnakazujejo tudi prvi rezultati opravljeneraziskave o zavedanju blagovne znamke.NajveËji izziv, ki je pred nami, pa jeizkoristiti vse priložnosti, ki jih ponujapoložaj vodilnega igralca na podroËjufinanËnih storitev v Evropi, ter hkratiodkriti celoten potencial za rast nalokalnem trgu. Verjamemo, da bo tomogoËe doseËi, le in ko bo UniCreditBanka Slovenija d.d. razširila svojeambicije prek meja uspešnega poslovanjas podjetji in investicijskega banËništva.S tem namenom smo sprejeli pogumenposlovni naËrt, v katerem je poslovanje sprebivalstvom v osrËju naše pozornosti.2007 Letno poroËilo · UniCredit Bank


Glede na sprejeti naËrt naj bi poslovnomrežo banke do leta 2010 podvojili intako omogoËili rast tudi v tem segmentu.Naj poudarim tudi, da banke ne vodijo leštevilke, primerjave in projekti, paË pa vveliki meri tudi vrednote. V pogovorih oListini o vrednotah, ki opredeljuje skupnevrednote kot osnovo identitete skupineUniCredit Group, dajemo vrednotampomemben poudarek. Verjamemo pa tudi,da mora biti Listina o vrednotah osnova zasodelovanje z vsemi kljuËnimi deležniki.Naj na koncu izrazim zahvalo vodstvuin vsem zaposlenim v UniCredit BankaSlovenija d.d. za njihovo pripadnost, trdodelo in odliËne rezultate, ki so jih doseglikljub zahtevnim pogojem na trgu. Upamo,da so doseženi rezultati šele zaËetek dolgezgodbe o uspehu.Federico GhizzoniPredsednik nadzornega svetaUniCredit Banka Slovenija d.d.UniCredit Bank · 2007 Letno poroËilo


Predstavitev bankeNagovor predsednika upraveDobro ime smoupraviËili z dobrimirezultati.Spoštovane dame in gospodje, cenjeniposlovni partnerji!Leto 2007 bo v slovenski ekonomskizgodovini prav gotovo ostalo zapisanos svetlimi Ërkami, kajti doseženagospodarska rast na ravni okoli šestodstotkov je bila najvišja, odkar jeSlovenija zaËela svojo samostojno pot.Poleg tega velja omeniti, da je v istemletu Slovenija postala Ëlanica Evropskemonetarne unije in prevzela evro kotdomaËo valuto in v veljavo so stopilepomembne davËne olajšave, ki so vplivalepredvsem na rast neto plaË in s tem tudina višjo osebno potrošnjo. Hkrati se je vdrugi polovici leta tudi na slovenskem trgupriËel kazati vpliv svetovne finanËne krize,za banko pa je bila zelo pomembna tudizamenjava imena iz prejšnje Bank AustriaCreditanstalt d. d. Ljubljana v sedanjoUniCredit Banka Slovenija d.d.Ëeprav je težko natanËno oceniti, kateriod omenjenih dogodkov je najboljzaznamoval preteklo leto, menimo, da jebil prevzem evra velik zgodovinski korakza slovensko gospodarstvo in celotnodržavo. Sama uvedba nove valute je sicerpri bankah povzroËila izgubo doloËenegadela neobrestnih prihodkov, ki so izhajaliiz valutnega tveganja, menjalniškegaposlovanja, izvedenih finanËnihinstrumentov in plaËilnega prometa. Podrugi strani pa se zavedamo, da pomeniv današnjem konkurenËnem okolju imetimoËno in stabilno mednarodno valutohkrati veliko ekonomsko prednost. Hitrejšetransakcije, hkrati z manjšim tveganjem,predvsem pri deviznih operacijah inmednarodnih plaËilih, odprava številnihdeviznih raËunov ter lažje primerjanjecen za blago in storitve, ob poveËanemzaupanju, so prednosti, ki jih je prineslanova valuta evro.V letu 2007 smoustvarili veË kot40 odstotkov višjidobiËek kot letopoprej.IzhajajoË iz predhodnih ugotovitev innaših aktivnosti pretežno na slovenskemtrgu vam z veseljem sporoËamo, dasmo dosegli odliËne rezultate tako vprimerjavi z interno postavljenimi cilji, kiso bili doseženi in v najpomembnejšihelementih preseženi, kot tudi v primerjaviz letom poprej in z ostalimi tekmeci nadomaËem trgu. »isti dobiËek, ki ga jebanka ustvarila, je bil za skoraj 40 %višji kot leto prej, pri Ëemer so bili netoobrestni prihodki veËji za skoraj 9 %,neobrestni prihodki pa celo za 30 %. Kljubdejstvu, da je na eni strani banka poveËalaštevilo zaposlenih in bila obremenjenaz dodatnimi stroški, povezanimi spreimenovanjem banke in pripravami naBasel II, je bila rast operativnih stroškovle 8 %, kar pomeni, da je bilo v primerjaviz letom prej narašËanje stroškov veË kotenkrat manjše.Ko analiziramo premoženjsko bilanco,lahko ugotovimo, da je sama bilanËna2007 Letno poroËilo · UniCredit Bank


vsota ostala bolj ali manj nespremenjena,znotraj nje pa je prišlo predvsem zaradiprevzema evra in implementacije denarnepolitike Evropske centralne banke dovelikih sprememb. Monetarni instrumentiBanke Slovenije so se umaknili s trga inuvedeni so bili evropski. To je za UniCreditBanka Slovenija d.d. pomenilo, da jebistveno zmanjšala portfelj vrednostnihpapirjev in terjatev do Banke Slovenijein drugih bank, poslediËno zmanjšalasvoje obveznosti do tujih bank, hkratipa bistveno poveËala svoje terjatve donebanËnega sektorja, in sicer najveËdo prebivalstva, za veË kot 40 %, patudi do podjetij, za okrog 24 %. Pri tejkreditni rasti je banka izhajala iz dvehneposrednih ciljev: temeljite analizekreditnega tveganja in donosa na kapital.Banka ni sodelovala pri financiranjuvelikih prevzemov, do katerih je prišlona slovenskem trgu. Iz tega zornegakota je bila tovrstna rast manjša kot vcelotnem banËnem sektorju, še posebej,Ëe primerjamo rast kreditov za razliËnepodjetniške potrebe. PrepriËani smo,da je odloËitev banke, da pospešenofinancira potrebe prebivalstva še posebejna podroËju prometa z nepremiËninamipravilna, ker menimo, da stoji ta rast ševedno na dobrih ekonomskih temeljih instabilnih dohodkih gospodinjstev, ki sotemeljna osnova za korektno odplaËevanjekreditov. »eprav se zadolženostgospodinjstev v zadnjih treh letih hitropoveËuje in dosega okoli 20 % BDP,ta delež še vedno moËno zaostaja zapovpreËjem EU.UniCredit Bank · 2007 Letno poroËilo


Predstavitev bankeNagovor predsednika upraveZa visoko kreditno rast pri financiranjuprebivalstva in nekaj nižjo pri kreditiranjupodjetij je banka uporabila tako virenebanËnega sektorja, ki so porastliza 21 %, kot tudi zadolžitev pri bankahv tujini, ki se je zmanjšala za 16 %.Pri tem naj omenimo, da je bankaaprila in junija lani prviË prišla na trg znovim instrumentom, tako imenovanim››strukturiranim depozitom«, ki je bil priinvestitorjih zelo dobro sprejet. To dajebanki osnovo, da bo s temi oblikamiin doloËenimi modifikacijami na trguprisotna tudi v prihodnje.Zaradi spremenjenih tržnih okolišËin,predvsem na podroËju izvajanja politikeobrestne mere, ki se je vse do junijazviševala, je banka uspešno ponudilapodjetjem instrument varovanjaobrestnega tveganja, pri Ëemer je ssvojim obsegom tovrstnih produktov celopresegla 50-odstotni delež na slovenskemtrgu.Tudi v prihodnje želibanka zadržati prvomesto na podroËjuizvedenih finanËnihinstrumentov.Ob dobrih rezultatih, ki jih je izkazovalslovenski kapitalski trg, je banki uspelozelo poveËati poslovanje prek skrbniškihraËunov, tako da je vrednost tovrstnegapremoženja dosegla skoraj 1,3 milijardeevrov. Enkratne rezultate je banka zabeležilatudi na podroËju prometa na Ljubljanskiborzi, kjer je bila po obsegu poslovanjana drugem mestu med vsemi borznimiposredniki. Banka si šteje v veliko Ëastin priznanje, da je na prvem razpisu, kiga je pripravila Republika Slovenija zaizdajo evro obveznice v višini ene milijardeevrov, kot prva banka iz Slovenije, skupajz bankama Societe Generale iz Parizain Dresdner Kleinwort, emisijo uspešnosoorganizirala v zadovoljstvo izdajatelja,investitorjev in samih soorganizatorjev. Nadrugi strani je banki uspelo organizirati tudiizdajo obveznic za Drogo Kolinsko v znesku30 milijonov evrov.Cenjene dame in gospodje, iz nekajnavedenih podatkov - tako iz bilanceuspeha kot tudi premoženjske bilance- je razvidno, da se naša strategija bitiskupaj z našimi partnerji, razumeti njihovepotrebe v konkurenËnem boju doma inv tujini, iskati nove finanËne rešitve tudiznotraj finanËne skupine UniCredit Groupkaže kot edina pravilna, kajti pretežni deležteh rezultatov izhaja prav iz dobrega in šetesnejšega sodelovanja z že obstojeËimiin vedno novimi partnerji. Vsemu temupa je temelj dodatno zaupanje v bankoin njene kakovostne storitve. Iz podatkovje razvidno, da je odliËen rezultat tudiposledica selektivnega pristopa doposameznih vrst poslov, kajti naša želja je,da tudi v prihodnje banka zadrži vodilnovlogo na podroËju izvedenih finanËnihinstrumentov - derivativov, na podroËju››cash managementa«, pri Ëemer ji je vpomembno konkurenËno prednost obsežnaposlovna mreža celotne finanËne Skupinev že 23 državah, ki sovpadajo tudi sstrukturo slovenskega mednarodnegaposlovanja. K temu naj dodamo še vsetesnejše sodelovanje z UniCredit Leasing,ki je prav tako organizirano v okviruiste Skupine, kot tudi sodelovanje zinvesticijsko skupino Pioneer Investments,ki ima v upravljanju že prek 290 milijardevrov premoženja.Dokazali smo, današa banka nosizaupanja vredno ime.Ob že omenjenem preimenovanjubanke, ki se je zgodilo s 1. septembrom2007, lahko z veseljem in ponosomugotavljamo, da uživa ime najveËjebanËne skupine v Evropski monetarniuniji, UniCredit Group, tudi na slovenskemtrgu polno mero zaupanja in je hkratidober temelj za nove aktivnosti inprodukte, ki jih banka naËrtuje v bližnjiprihodnosti.Ob zahvali za izkazano zaupanje vsemposlovnim partnerjem gre naša zahvalasodelovanju z nadzornim svetom banke,ki mu od maja dalje predseduje FedericoGhizzoni. PrepriËani smo, da bo dodatnasinergija med znanjem in prakso, ki joposedujejo Ëlani nadzornega sveta, inzaposlenimi v UniCredit Banka Slovenijad.d. najboljša osnova za doseganjenovih rezultatov in novih produktov tudi vprihodnje.2007 Letno poroËilo · UniCredit Bank


Posebna zahvala gre celotnemu banËnemukolektivu, ki je s svojim angažiranjempokazal in z rezultati dokazal, da sena eni strani zaveda vse ostrejšegakonkurenËnega boja, na drugi stranipa tudi ve, kaj pomeni biti Ëlan velikefinanËne Skupine, ki tudi kot celotadosega enkratne rezultate. PrepriËanismo, da bosta ustvarjalni duh in energijasodelavcem tudi v prihodnje najboljšagarancija za doseganje in preseganjezastavljenih ciljev, za osebno rast vznanju in odgovornosti, pa tudi najboljšapriložnost za uspešno napredovanje vbanki in znotraj finanËne Skupine.številu partnerjev, saj na svobodnemtrgu tudi to prispeva k zmanjševanjuoperativnega tveganja in splošnemudvigu kakovosti storitev. Za podporo pritovrstnih aktivnostih iskrena hvala vsemsodelavcem in poslovnim partnerjem.PrepriËani smo, da bomo skupaj z vamitudi v prihodnje uspešno gradili dobroime banke.Dr. France ArharPredsednik upraveUniCredit Banka Slovenija d.d.Še na nekaj bi radi spomnili, spoštovanedame in gospodje, in sicer na vseveËji pomen in vpliv etike in družbeneodgovornosti v vsakdanjem poslovanjuznotraj banke in s celotnim partnerstvom.Vsebina Listine o vrednotah, ki veljajoznotraj celotne finanËne skupine UniCreditGroup, postaja na svobodnem in vednobolj konkurenËnem trgu posebna kakovostin hkrati dodatna odgovornost, ki jetudi v oËeh naših partnerjev vse boljpomembna vrednota. Brez nje si nemoremo veË predstavljati resniËnegapartnerstva, saj dodatno utrjuje zaupanje,ki je temelj finanËnega posredništva.Da bi bila ta razmerja znotraj banke šebolj transparentna in uspešna z iskanjemkompromisnih rešitev, je banka vzpostaviladelovanje lastnega ombudsmana, ki pomednarodnih kriterijih prav tako šteje zadobro ››corporate governance«. S takimirešitvami želimo, da bi se podobennaËin delovanja razširil pri Ëim veËjemLjubljana, 20. februar 2008UniCredit Bank · 2007 Letno poroËilo


Predstavitev bankePredstavitev UniCredit Banka Slovenija d.d.Sedež: Šmartinska 1401000 LjubljanaSlovenijaTelefon: 00 386 1 5876 600BrezplaËna telefonska številka: 080 88 00Faks: 00 386 1 5876 684Povezava:Elektronska pošta:www.unicreditbank.siinfo@unicreditgroup.siOsnovna dejavnost:drugo denarno posredništvoŠifra dejavnosti:K/64.190Leto ustanovitve: 1991Predsednik nadzornega sveta:Registrirana:Federico Ghizzonipri Okrožnem sodišËu v Ljubljaništ.reg.vl. 1/10521/00Osnovni kapital:16.258.321,26 EURMatiËna številka: 5446546Identifikacijska številka:SI59622806Poravnalni raËun pri Banki Slovenije: 01000-0002900092Swift:BACXSI2210 2007 Letno poroËilo · UniCredit Bank


Organi upravljanja bankeNadzorni svet»lan Funkcija Datum mandataMag. Helmut Bernkopf Predsednik nadzornega sveta do 24. aprila 2007Herbert Hangel Namestnik predsednika nadzornega sveta do 24. aprila 2007Dr. Erhard Gehberger »lan nadzornega sveta do 24. aprila 2007Mag. Friedrich Racher »lan nadzornega sveta do 24. aprila 2007Mag. Martin Klauzer »lan nadzornega sveta do 24. aprila 2007Federico Ghizzoni Predsednik nadzornega sveta od 25. aprila 2007Herbert Hangel Namestnik predsednika nadzornega sveta od 25. aprila 2007Mag. Martin Klauzer »lan nadzornega sveta od 24. aprila 2007Mag. Wolfgang Edelmüller »lan nadzornega sveta od 24. aprila 2007Mag. Helmut Haller »lan nadzornega sveta od 24. aprila 2007Uprava»lan Funkcija Datum mandataDr. France Arhar Predsednik uprave od 1. junija 2003Dr. Heribert Fernau »lan uprave od 24. januarja 2004Mag. Stefan Vavti »lan uprave od 24. januarja 2004UniCredit Bank · 2007 Letno poroËilo11


12 2007 Letno poroËilo · UniCredit BankOrganizacijska shemaPredstavitev banke


Poslovna mrežaPE LJUBLJANA BTCŠmartinska 140, SI-1000 LjubljanaTelefon: 01 5876 757PE LJUBLJANA WOLFOVAWolfova 1, SI-1000 LjubljanaTelefon: 01 5876 418PE LJUBLJANA CELOVŠKACelovška 150, SI-1000 LjubljanaTelefon: 01 5000 540PE LJUBLJANA TRŽAŠKATržaška 19, SI-1000 LjubljanaTelefon: 01 2410 360PE CELJEAškerËeva 14, SI-3000 CeljeTelefon: 03 4252 470PE KOPERFerrarska 5a, SI-6000 KoperTelefon: 05 6101 055PE KRANJNa skali 1, SI-4000 KranjTelefon: 04 2018 171PE MARIBORSvetozarevska 6, SI-2000 MariborTelefon: 02 2285 320PE MURSKA SOBOTATrg zmage 5, SI-9000 Murska SobotaTelefon: 02 5341 440PE NOVA GORICATolminskih puntarjev 2b, SI-5000 NovaGoricaTelefon: 05 3383 130PE NOVO MESTOGlavni trg 20, SI-8000 Novo mestoTelefon: 07 3737 400PE PTUJUlica heroja Lacka 1, SI-2250 PtujTelefon: 02 7980 340PE TRBOVLJEUlica 1. junija 2, SI-1420 TrbovljeTelefon: 03 5612 561PE VELENJEŠaleška 20a, SI-3320 VelenjeTelefon: 03 8987 300UniCredit Bank · 2007 Letno poroËilo13


Predstavitev bankeDosežki in dogodki v letu 20071. januar 2007Hitra vzpostavitev delovanjabankomatske mrežeOb prehodu na evro smo naše bankomatepriklopili v prvem možnem terminu innašim strankam že nekaj minut po polnoËizagotovili oskrbo z gotovino.14. februar 2007Z dvema bankama soorganizirali prvoemisijo evro obveznicSkupaj z bankama Societe Generale iz Parizain Dresdner Kleinwort smo soorganiziraliprvo evro emisijo obveznic za RepublikoSlovenijo v višini ene milijarde evrov na evrotrgu.Marec 2007Ponudili prvi kratkoroËni investicijskiprodukt z zajamËeno glavnico vSlovenijiInovativnost, ki je zapisana tudi v našemposlanstvu, smo dokazali z novim produktom- strukturiranim depozitom, namenjenimvarËevalcem, ki želijo višje donose, a nisopripravljeni veliko tvegati.April 2007Beseda Slovenija bo del našega novegaimena po preimenovanjuOd vlade Republike Slovenije smo prejelisoglasje za uporabo besede Slovenija vnovem imenu banke.25. april 2007Novi nadzorni svet bankeFederico Ghizzoni je postal predsedniknadzornega sveta. Svoje funkcije so nastopiliše trije Ëlani in namestnik predsednika.Maj 2007Ponudba strukturiranega depozita BalkanExpressVarËevalcem smo ponudili še en inovativenprodukt - strukturirani depozit, ki jeglede donosa manj tvegan kot naložba vinvesticijske sklade, saj je izplaËilo glavnicezajamËeno, obenem pa je obrestna meranavzgor neomejena in odvisna od rasti delnicizbranih podjetij.Junij 2007Potrjen predlog novega imenaSkladno s procesom preimenovanja, ki potekav skupini UniCredit Group, je skupšËina BankAustria Creditanstalt d.d., Ljubljana sprejelapredlog novega imena banke - UniCreditBanka Slovenija d.d.Junij 2007Sklenitev interne kolektivne pogodbe insprejem novega akta o sistemizacijiNa novo smo sprejeli sistematizacijoin interno kolektivno pogodbo, ki stapripomogli k preglednejši organizaciji dela vbanki in ureditvi drugih pravic in dolžnosti izdelovnega razmerja.20. junij 2007Priredili smo dogodek Europa ForumOsrednja tematika Europa Foruma, nakaterega smo povabili številne priznanesogovornike in mednarodne strokovnjake spodroËja gospodarstva, prava in politike, sobile priložnosti na trgih Srednje in VzhodneEvrope.Avgust 2007Vpis novega imena v sodni registerSklep sodišËa z dne 31. 8. 2007 o vpisunovega imena v sodni register.Avgust 2007Dobre odnose z zaposlenimi gradili naKrvavcuLetos smo zaposlene povabili na zabavnoadrenalinskidogodek na Krvavec. Spoznali sonovo celostno podobo banke, si premiernoogledali korporacijski oglasni spot, predvsempa poglobili medsebojne odnose.14 2007 Letno poroËilo · UniCredit Bank


1. september 2007Novo ime, novi izziviNaša banka je prevzela ime najveËjebanËne mreže v Srednji in Vzhodni Evropi- UniCredit Group. Projekt preimenovanjaso spremljale številne aktivnosti in celostnokorporativno komuniciranje.September 2007Interaktivna spletna stranPreselili smo se na novo spletno stran www.unicreditbank.si s sodobno obliko, bogatovsebino in novimi uporabniškimi funkcijami,z dostopom do varnega on-line banËništva.1. oktoberVlagateljem ponudili nova krovnasklada skupine Pioneer InvestmentsSlovenski investicijski trg je postal bogatejšiza 17 skladov dveh krovnih skladov PioneerFunds in Pioneer P. F. (Portfolio Funds).Prvi pokrivajo obmoËje Evrope, Amerikein razvijajoËih se trgov, drugi pa finanËnasredstva nalagajo globalno.Oktober 2007Kartice s Ëipno tehnologijoV skladu z zahtevami standardov EMVsmo kot ena prvih slovenskih bank v celotiizpeljali zamenjavo banËnih kartic, ki smojih opremili s Ëipom.14. november 2007Prispevali za nakup francoskega rogaŽe tradicionalno podpiramo delovanjeSlovenske filharmonije. Tokrat smoprispevali za nakup koncertnega francoskegaroga in svoje partnerje povabili na slavnostnikoncert filharmonikov ob zakljuËku leta.30. november 2007Podpisali že tretjo pogodbo z Evropskoinvesticijsko banko za ugodne krediteS predstavniki Evropske investicijske bankesmo podpisali že tretjo pogodbo za EIBkreditno linijo (EIB Global Loan), tokratv višini 20 milijonov evrov, ki smo jihnamenili financiranju projektov za mala insrednje velika slovenska podjetja.December 2007Izdaja obveznic za Drogo KolinskoOrganizirali smo izdajo obveznic podjetjaDroga Kolinska Živilska industrija d.d.,kjer je imela banka vlogo organizatorjaizdaje pri plasiranju dolga v vrednosti 30milijonov evrov na domaËi trg, s Ëimer smodokazali distribucijske zmogljivosti banke naslovenskem obvezniškem trgu.December 2007Novoletna donacija za nova rojstvaPetim lokalnim porodnišnicam smo doniraliza nakup nove opreme.December 2007Skladno s pravili Skupine imenovaliombudsmana bankeZ institutom neodvisnega ombudsmana,ki smo ga za UniCredit Banka Slovenija d.d.imenovali decembra, skrbimo za ohranjanjepraviËnih odnosov in dobrega imena bankeskladno z vrednotnim sistemom Skupine.UniCredit Bank · 2007 Letno poroËilo15


Poslovno poroËiloGospodarsko okolje v letu 2007Po zelo hitri rasti slovenskega gospodarstvav letu 2006 (5,2 %) je bila rast v letu2007 še veËja, najvišja od razglasitvesamostojnosti države, in sicer okoli6 %. Visoko rast sta poganjala izvoz ingradbeništvo, ki sta v letu 2007 delovalav pogojih, ki so bili veliko boljši odpriËakovanih. Leto 2007 so zaznamovaleštevilne spremembe, med katerimiso prehod na evro, davËna reforma,nadaljevanje privatizacije državnih podjetijin deregulacija trga elektriËne energije,vendar pa bo njihov pozitiven uËinek nagospodarstvo viden šele v naslednjihobdobjih.V letu 2008 se priËakuje upoËasnitevgospodarske rasti zaradi nižje rasti glavnihevropskih trgovinskih partnerjev, nižjerasti domaËe porabe in investicij zaradipoveËanih priËakovanj inflacije, ki so seustvarila v drugi polovici leta 2007, terzaradi višjih stroškov financiranja, ki sorezultat kreditne krize na globalnih finanËnihtrgih. Kljub temu pa priËakujemo, da se bonadaljeval trend transparentnih javnih financin pozitivnih premikov na trgu dela.Na strani povpraševanja je bila najmoËnejšielement moËne gospodarske rasti v letu 2007živahna investicijska dejavnost, predvsemokoli 17-odstotna rast bruto investicijv osnovna sredstva, ki so jo poganjalivisoko financiranje z zadolževanjem terdobri vremenski pogoji. Rast kreditiranjanebanËnega sektorja je znašala okrog 32 %.Tako visoka rast kreditiranja je na eni stranipovezana z visoko gospodarsko rastjo, velikoaktivnostjo v gradbeništvu, še vedno relativnougodnimi obrestnimi merami in ugodnimiuËinki spremembe davËne zakonodaje nadohodke gospodinjstev. Posledica kreditneaktivnosti nasproti nebanËnemu sektorju jetudi spreminjanje strukture premoženjskebilance bank, in sicer v smeri poveËevanjadeleža posojil omenjenemu sektorju na okrog64 % bilanËne vsote z nadaljnjo tendenco rasti.Po drugi strani pa se je zasebna potrošnjaupoËasnila na okoli 2,7 %. K narašËanjuzasebne potrošnje je najveË prispevalarealna rast mase neto plaË (7,7 %), ki stajo deloma povzroËili davËna reforma invišja stopnja zaposlenosti. IstoËasno pa jestopnja brezposelnosti padla na najnižjoraven do sedaj, in sicer na 4,5 %, merjenopo standardih ILO. Javna potrošnja je imelaenak trend kot zasebna potrošnja, torejpoËasnejšo rast glede na prejšnje leto.Neto izvoz je imel negativen uËinek na rastBDP, saj je visoko rast izvoza spremljalaše višja rast uvoza, kar je imelo negativenuËinek na primanjkljaj tekoËega raËuna, kise je poveËal na 3,4 % bruto domaËegaproizvoda.Nadaljevali sta se moËna ekspanzijaindustrijske proizvodnje in visokaproduktivnost, in sicer prva za okrog10 % in druga za 8 %, s Ëimer sta postalinajmoËnejša generatorja ekonomske rasti.Ekspanzijo na podroËju gradbeništva jezaznamovala tudi visoka rast bruto dodanevrednosti (17 %), ki jo je spremljala visokarast dodane vrednosti finanËnih storitev(15 %), javnih storitev in trgovinez motornimi vozili.Inflacija se je zvišala, in sicer na 5,6 %v primerjavi z letom poprej, povpreËnapa je znašala 3,6 %, v primerjavi z 2,8 %v letu 2006. To je mogoËe pojasniti znarašËajoËimi stroški energentov, ki soprispevali k dvigu inflacije za 0,9 odstotnetoËke, dvigom cen prehrambenih proizvodov(2,2 odstotne toËke), storitev in prehodomna evro (0,3 odstotne toËke). Gospodarstvoje zelo dobro kljubovalo porastu cen energijein kovin, ki je bil posledica geopolitiËnihnapetosti, visokega povpraševanja s Kitajskein porasta cen žitaric. Ko pa so se višje cenesurovin odrazile v konËnih izdelkih, kot soprehrambeni proizvodi in storitve, so zraslatudi inflacijska priËakovanja in pojavile so sezahteve po višjih plaËah ne le doma, temveËtudi v drugih evropskih državah.Poleg inflacije se bomo leta 2007spominjali tudi zaradi krize hipotekarnihposojil v ZDA, ki je prisilila številnebanke in druge finanËne investitorje,da so odpisali pomemben del svojegapremoženja. PoslediËno so banke na novoocenile kreditno tveganje in postale boljMakroekonomski kazalci za Slovenijo v obdobju od 2002 do 20072002 2003 2004 2005 2006 2007BDP (rast v %) 3,5 2,7 4,4 4,0 5,2 6,0Inflacija (letno povpreËje v %) 7,5 5,6 3,6 2,5 2,8 3,6Javni dolg države (v % na BDP) 29,1 28,7 29,0 28,4 27,1 25,6ProraËunski primanjkljaj (v % na BDP) -2,5 -2,8 -2,3 -1,5 -1,2 -Stopnja brezposelnosti po standardih ILO 6,4 6,7 6,3 6,5 6,0 4,5Vir: Banka SlovenijeUniCredit Bank · 2007 Letno poroËilo17


Poslovno poroËiloGospodarsko okolje v letu 2007obotavljive pri medsebojnem posojanju, karje povzroËilo likvidnostne težave predvsemna denarnem, pa tudi na finanËnih trgih. Vokolju, ki ga zaznamuje tesna povezanostglobalnih finanËnih trgov, se je kriza hitrorazširila tudi v Evropo in na druge trgeter pustila sledi v obliki višjih stroškovrefinanciranja in pomanjkanju finanËnihvirov tudi v Sloveniji. UniCredit BankaSlovenija d.d. je bila doslej kljub temusposobna dobro prestati nastalo kriznosituacijo, zahvaljujoË dobremu dostopu domednarodnih trgov in moËi finanËne skupineUniCredit Group. Kljub sooËanju s krizo namednarodnih trgih banka ne priËakuje veËjihnegativnih posledic pri svojem poslovanjuin bo nadaljevala aktivnosti v skladu zzastavljenimi cilji za leto 2008.Leto 2007 je zaznamovala izjemnarast BDP zaradi moËne ekspanzijeindustrijske proizvodnje in gradbeništva,ki ju je podpiralo visoko financiranje zzadolževanjem. Gospodarstvo je zabeležilodobre rezultate kljub zunanjim šokom,kot so visoke cene energije, surovin inprehrambenih proizvodov ter kreditnakriza v ZDA. V prihodnje priËakujemo,da bo slovensko gospodarstvo v dobremstanju in da se bo sposobno kosati z izzivinarašËajoËe inflacije ali morebitnih posledicnegativnega razvoja na globalnih finanËnihtrgih. PriËakujemo tudi, da bo Slovenijanadaljevala z ugodno gospodarsko rastjo,Ëeprav bo ta nižja kot v preteklem letu.18 2007 Letno poroËilo · UniCredit Bank


Poslovno poroËiloPoslanstvo, vizija in strategijaNovo ime, nova obzorjaIme je gradnik naše identitete. Navznoter nasvzpostavlja in navzven predstavlja. Dobregaimena si ne ustvarimo Ëez noË, temveË rasteskupaj z nami. Gradimo ga z našim znanjem,izkušnjami, tehtnimi naložbami, odgovornimravnanjem in dolgoletnimi prizadevanjicelotne Skupine, ki je usmerjena v isto smer- navzgor. Dobro ime prav tako ni zgolj stvarvelikosti ali dobrih poslovnih rezultatov,ampak se odraža v zaupanju in zadovoljstvuvseh naših komitentov, delniËarjev inzaposlenih. Dolgo traja, da si ga ustvarimo,precej lažje ga zapravimo.Z vso zrelostjo in odgovornostjo smoprevzeli novo, doma in po svetu dobroprepoznavno ime ene izmed najveËjihfinanËnih skupin v Evropi, ki povezujeveË kot devet tisoË banËnih poslovalnicv 23 državah in že veË kot 40 milijonomstrank pomeni varnost, stabilnost, jim vlivasamozavest ter zagotavlja hitre in varnefinanËne rešitve za lahkotno in varno pot vprihodnost.Nadeli smo si novo ime, znotraj paostajamo isti in še boljši. Zrelo ime z moËnotradicijo in ugledom je za nas zaveza, daz uspešnim poslovanjem, razvojem šepestrejše ponudbe storitev in produktov, sspodbujanjem potencialov našega kadrater z odprtostjo do potreb soljudi in okoljaohranimo vse vrednosti, upraviËimo in šenaprej gradimo dobro ime naše banke incelotne Skupine.UniCredit Banka Slovenija d.d. želimopostati prvo ime, na katerega bostepomislili, ko mislite na svoj jutri.Skoraj tri leta po nastanku skupine UniCreditGroup leta 2005 lahko s ponosom trdimo,da je UniCredit Banka Slovenija d.d. postalaËlanica prave evropske banËne skupinez najbolj razvejano mrežo in regionalnoprisotnostjo v Srednji in JugovzhodniEvropi. Kot Skupina spoštujemo skupnanaËela in vrednote, ki smo jih oblikovalizato, da uresniËimo vizijo ter potrdimo svojoidentiteto.Poslanstvo in vizijaNaše poslanstvo je uporabljati nove naËineposlovanja v banËništvu skozi prizadevanje,da našim strankam ponudimo inovativnerešitve. Naša vizija temelji na odloËnosti, dase osredotoËamo na ljudi kot posameznike.Naš cilj je poveËati njihov potencial ter jimpomagati uresniËiti naËrte in ideje.VrednoteNaše vrednote temeljijo na poštenostikot pogoju trajnosti, kar omogoËa, dadobiËek preoblikujemo v vrednoto za vsenaše deležnike. Znotraj skupine UniCreditGroup delujemo po naslednjih vrednotah,ki izhajajo iz naše Listine o vrednotah:poštenosti, preglednosti, spoštovanju,vzajemnosti, svobodi delovanja in zaupanju.Privrženost tem vrednotam razumemo kotpogoj za ohranjanje zaupanja do banke ternjenega ugleda.Upravljanje na osnovivrednot ter preglednostrezultatovCelotno upravljanje in delovanje banketemelji na upoštevanju naštetih vrednot.V skladu z usmeritvijo skupine UniCreditGroup je banka vzpostavila sistem EVA(Economic Value Added oziroma ekonomskadodana vrednost) kot glavno merilouspešnosti poslovanja. EVA meri prispevekdobiËka nad stroški kapitala in se neuporablja le na ravni celotne banke, paË patudi pri posameznih odloËitvah o kreditih.EVA je danes standardno merilo uspešnostiposlovanja, ki združuje tako rast na podlagirazvoja sredstev uteženih s tveganjem inpotrebne razporeditve kapitala, kot tudiizboljšanja dobiËkonosnosti kot gonilne silevrednosti.Banka si zato prizadeva vlagati kapital v tisteposlovne segmente, produkte in storitve,kjer je mogoËe doseËi najvišjo dodanovrednost. Preglednost oblikovanja vrednostiin/ali upadanja vrednosti je kljuËnegapomena za trajnostne rezultate.Divizijski poslovnimodelPoslovni model skupine UniCredit Grouptemelji na specializaciji za doloËenesegmente strank. Za poslovne dejavnosti,kot so investicijsko banËništvo, trgovanje,mednarodno poslovanje s podjetji aliupravljanje sredstev, je oËitno, da so sipotrebe strank, storitveni modeli ali tržnisegmenti bolj podobni izven meja države kotpa znotraj domaËe tržne aktivnosti.Kljub temu verjamemo, da enako velja tudiza poslovanje s prebivalstvom v okoljuindustrializiranega banËništva, vendarob hkratnem upoštevanju lokalnih tržnihposebnosti.Ni treba posebej poudarjati, da je naš glavnicilj zadovoljiti potrebe vsake posameznestranke v skladu z idejo, da je celotnoposlovanje lokalno, skozi neomejene alistandardizirane produkte. Pri oblikovanjuin razvoju izdelkov skušamo iz Ëlanstva vSkupini doseËi ekonomijo obsega tako nastrani prihodkov kot tudi na stroškovni straniin pri dobiËku. PoslediËno tudi organiziranostbanke sledi standardom Skupine in omogoËaprenos znanj in dobrih praks.UniCredit Bank · 2007 Letno poroËilo19


Poslovno poroËiloPoslanstvo, vizija in strategijaNaša konkurenËna prednost je tudi v tem,da lahko servisiramo stranke skozi širokomrežo bank, ki so vodilne na lokalnihtrgih. Sposobni smo podpreti mednarodnestranke Skupine, prisotne na slovenskemtrgu, kot tudi slovenske stranke pri njihovihprizadevanjih za širitev poslovanja v tujini.Na podroËju trgovanja in investicijskegabanËništva so naša konkurenËna prednostkompetence in povezovanje z oddelkomtrgovanja in investicijskega banËništvaznotraj skupine UniCredit Group.Pri upravljanju s sredstvi posredujemoznanje investicijske skupine PioneerInvestments, ki je eden vodilnih igralcev vglobalnem merilu.Globalna divizija banËnih operaciji v okviruskupine UniCredit Group nam zagotavljapodporo pri ohranjanju stroškovneuËinkovitosti in odkrivanju sinergij skoziharmonizacijo informacijske tehnologije,nabavo na ravni Skupine in naËrtovanjeprocesov.Od dobiËkado vrednostiUniCredit Banka Slovenija d.d. je vskladu z usmeritvijo Skupine prepriËana,da je mogoËe finanËne cilje doseËi les trajnostnim razvojem ob upoštevanjunaslednjih naËel:• Prizadevamo si graditi dolgoroËenodnos s strankami in v našem sistemunagrajevanja upoštevamo zadovoljstvostrank.• Raznolikost: želimo uporabitinajrazliËnejše talente naših zaposlenih,ne glede na njihovo starost, spol, verskoopredelitev, zdravje ali spolno usmeritev.• Družbena odgovornost: želimo biti predanin koristen Ëlan lokalnih skupnosti, karuresniËujemo tudi z našimi sponzorskimidejavnostmi.• Ekološka trajnost: pri poslovanjudajemo velik pomen ekološki trajnosti.Spodbujamo in podpiramo zavedanje omedsebojni odvisnosti okoljevarstvenihtematik in banËništva.• Izobraževanja, spodbude in sistemnagrajevanja so namenjeni temu, da našizaposleni uberejo podjetniško pot in pritem ustvarjajo ravnotežje med delom inprostim Ëasom.20 2007 Letno poroËilo · UniCredit Bank


UniCredit Bank · 2007 Letno poroËilo21


Poslovno poroËiloFinanËni rezultatiV letu 2007 je UniCredit Banka Slovenijad.d. dosegla najboljše rezultate v zgodovinisvojega poslovanja s Ëistim dobiËkom predobdavËitvijo v višini 19,71 milijona evrov.V primerjavi s predhodnim letom to pomenipoveËanje v višini 4,96 milijona evrovali 33,6 %, kar je še posebej pomembenpodatek ob dejstvu, da je bilo leto 2007prvo poslovno leto po uvedbi evra. EdenkljuËnih izzivov leta 2007 je bila namreËnadomestitev izgube prihodka zaradi uvedbeevra (zaradi izgube prihodkov od provizijiz naslova plaËilnega prometa s tujino kottudi prihodkov pri nakupu in prodaji tujihvalut in odprave nekaterih instrumentovcentralne banke) z dodatnimi, po možnostinetveganimi prihodki.10.0%9.5%9.0%8.5%8.0%7.5%Donos na kapital na letni ravni po obdavËitvi9.77 %7.67 %Leto 2006 Leto 2007»isti finanËni in operativni prihodek jezrasel za 7,42 milijona evrov ali 15,3 %, insicer na 56,03 milijona evrov z izboljšanimirezultati na vseh poslovnih podroËjih.Na sreËo je bila tudi rast naslednjih vrstprihodkov v skladu z zaËrtano strategijo:netvegani prihodki od provizij so zabeležiliabsolutno najvišjo rast (3,94 milijona evrov),netvegane marže za depozite so zrasle vabsolutnem znesku za 3,75 milijona evrov,k Ëemur je pripomoglo tudi ugodno gibanjekrivulje donosov. Administrativni stroškiin amortizacija so se istoËasno poveËaliza 3,56 milijona evrov (12,5 %) na skupaj32,01 milijona evrov, pri Ëemer najveËjidelež poveËanja predstavljajo stroškizaposlenih zaradi poveËanja njihovegaštevila. Izboljšano upravljanje kreditnihtveganj in na splošno dobra ekonomskasituacija sta prispevala k nekoliko nižjimkreditnim oslabitvam in rezervacijam, ki soznašale 4,65 milijona evrov v primerjavi s4,76 milijona evrov v letu 2006.V skladu z naËeli upravljanja na osnovivrednosti se je banka osredotoËila nastrukturno izboljšanje rezultatov. PoslediËnosmo se v UniCredit Banka Slovenijad.d. izogibali transakcijam, ki bi imelerentabilnost pod ekonomskim minimumom,istoËasno pa smo se osredotoËali na posle,za katere ni potrebno zagotavljati velikokapitala. Takšna prizadevanja so obrodilasadove, saj smo dosegli vrednost EVA* (kije bila izraËunana po metodologiji skupineUniCredit Group) v višini 7,2 milijona evrov.Donos na kapital po davkih se je izboljšal s7,67 % v letu 2006 na 9,77 % v letu 2007.* EVA (ekonomska dodana vrednost) je kljuËnomerilo zmogljivosti UniCredit Banka Slovenija d.d. prioblikovanju vrednosti. Zajema absolutni prispevek narezultate s strani celotne banke, poslovnih segmentovali nižjih ravni, ki presega ali je pod stroški kapitala(presežni dobiËek podjetja). Strošek kapitala v skladus CAPM modelom (capital asset pricing model) je(minimalni) donos, ki ga delniËarji lahko priËakujejood UniCredit Banka Slovenija d.d. na temelju njenegaspecifiËnega poslovnega profila in profila tveganja(v nasprotju s povsem diverzificiranim tržnimportfeljem).Izkaz poslovnega izidaza leto 2007»iste obresti so se v primerjavi s preteklimletom poveËale z 32,90 milijona evrovna 35,75 milijona evrov, kar pomeni 8,7% stopnjo rasti. Pri poslovanju s podjetjiso bile marže na aktivi še naprej podpritiskom; v segmentih, kot so denimokljuËne stranke, je bilo težko najti posle,ki ustvarjajo ekonomsko dodano vrednost(EVA).PoveËani obseg poslovanja in dobiËekna strani sredstev izhajata iz poslovanja sprebivalstvom in srednje velikimi podjetji.Kljub temu pa so porasti na krivuljidonosnosti evra pripomogli k porastuobrestnih marž na strani obveznosti.SplošËenost krivulje donosnosti evra jeomejevala možnost, da bi banka ustvarilaprihodke z odpiranjem aktivnih ali pasivnihpozicij. Kljub temu je upravljanje z bilancobanke ustvarilo visoke Ëiste obresti izlikvidnostnih pozicij banke.22 2007 Letno poroËilo · UniCredit Bank


10080Prihodki5% 6%27% 30%tega posla po uvedbi evra žal upadla, sajse veËina nekoË mednarodnih plaËil zdajobravnava kot domaËa plaËila. Usmerjenostk inovativnim rešitvam za stranke zizvedenimi finanËnimi instrumenti, ki jihje banka priËela tržiti že leta 2005, se je vletu 2007 še dodatno izplaËala. Banka jepri Ëistih provizijah dosegla rezultat v višini2,73 milijona evrov, kar je za 0,94 milijonaevrov veË iz naslova te dejavnosti kot v letu2006.604020068%»iste provizije so v letu 2007 zrasle za 30% in dosegle 17,08 milijona evrov (leta2006 so znašale 13,15 milijona evrov).Razlog za takšno zvišanje so rešitve ››pomeri« ter prizadevanja banke za inovacije vobliki privlaËnih produktov in konkurenËnihstoritev. Provizije iz naslova poslov zvrednostnimi papirji in skrbniških poslovso krepko nad ravnijo v predhodnem letuin skupaj znašajo 3,61 milijona evrov (leta2006 2,57 milijona evrov). Za banko so sekot še posebej dober vir prihodka izkazaliskrbniški posli (sredstva v skrbništvu soznašala 1.218 milijonov evrov) in prodajavrednostnih papirjev. Prodaja investicijskihskladov (sredstva v upravljanju v znesku63,51 milijona evrov) je prispevala vstopnein upravljavske provizije. V letu 2007 jebanka vstopila na novo poslovno podroËje,saj je izvedla dve izdaji obveznic.64%Deleæ 2006 Deleæ 2007OSTALI PRIHODKI»ISTE PROVIZIJE»ISTE OBRESTIProvizije od kreditnih poslov so se s 3,24milijona evrov v letu 2006 poveËale na 4,98milijona evrov v letu 2007. Na podroËjuposlovanja s podjetji banka pripoznavapribližek metode veljavnih obresti zrazmejevanjem provizij na postavki obrestnihprihodkov, kar pa ne velja za krediteprebivalstvu. Ustrezna sistemska podpora naobeh podroËjih poslovanja bo vzpostavljenav letu 2008.Poleg poveËanega obsega poslovanja jeeden od razlogov za pozitiven razvoj tudidejstvo, da banka zavaruje manj posojilkot v preteklosti. PoslediËno so prihodkiiz naslova provizij od kreditov, odobrenihprebivalstvu, zrasli za 85,1 %. Provizije odplaËilnega prometa v državi in s tujino sose v letu 2007 poveËale s 5,28 milijonaevrov na 5,52 milijona evrov. UpoštevajoËpoveËani obseg transakcij je dobiËkonosnostV letu 2007 banka pri realiziranih dobiËkih inizgubah iz finanËnih sredstev in obveznosti,ki niso merjeni po pošteni vrednosti skoziizkaz poslovnega izida, poroËa o izgubiv višini 0,75 milijona evrov (leta 2006dobiËek v višini 0,69 milijona evrov). Znotrajte pozicije banka izkazuje rezultat prodajeobveznic, razpoložljivih za prodajo. V letu2007 je banka sprejela ponudbo RepublikeSlovenije za odkup njenih obveznic pougodni tržni ceni in je zabeležila izgubov višini 0,6 milijona evrov. Postavke zavarovanje denarnih tokov teh pozicij nisobile prekinjene istoËasno. Z ekonomskegastališËa je banka ustvarila dobiËek izsodelovanja v teh odkupih, ki jih je ponudiloMinistrstvo za finance. Poleg tega bankav tej poziciji poroËa o odpisu vrednostikreditov, pripoznanih po metodi veljavnihobresti in o njihovih poplaËilih, ki skupajznašajo 0,12 milijona evrov Ëiste izgube(leta 2006 0,14 milijona evrov dobiËka).Razlog za primerjalno slabši rezultat jevpeljava MSRP s strogo politiko odpisov.PlaËila odpisanih terjatev v obeh letihizvirajo iz kreditov, odpisanih pred vpeljavoMSRP.Trgovalne dejavnosti divizije Zakladništvoza raËun banke se odražajo v izkazuposlovnega izida v pozicijah 9, 10 in 11.Trgovalni rezultat se je v letu 2007 podvojilin dosegel 3,76 milijona evrov v primerjaviz 1,84 milijona evrov v letu 2006. Bankaje ustvarila pomemben dobiËek zaradiUniCredit Bank · 2007 Letno poroËilo23


Poslovno poroËiloFinanËni rezultatipriËakovanega zmanjšanja kreditnegarazpona Republike Slovenije po uvedbi evra.Tudi pozicioniranje na krivulji donosnostije imelo za posledico znatne dobiËke.K skupnemu trgovalnemu rezultatu sopozitivno prispevali tudi posli menjave valut.Znotraj pozicije DobiËki in izgube iz odpravepripoznanja sredstev brez nekratkoroËnihsredstev v posesti za prodajo banka poroËao dobiËkih in izgubah iz odprave pripoznanjanepremiËnin, opreme in neopredmetenihsredstev.PoveËanje obsega poslovanja se sevedaodraža tudi v veËjih stroških. Zaposlovanje100Stroški16% 12%novih ljudi, odpiranje novih poslovalnic, da bise s tem poveËala prisotnosti banke v regijiza fiziËne ali pravne osebe, kot tudi naložbev IT infrastrukturo imajo seveda za posledicovišje stroške. Poleg tega je v letu 2007potekalo preimenovanje banke in spremembablagovne znamke, ki je bilo podprto zmoËnimi marketinškimi dejavnostmi. Vendarpa banka svoje administrativne stroškeupravlja varno in previdno. Administrativnistroški za leto 2007 znašajo skupaj 28,84milijona evrov (v primerjavi s 25,52 milijonaevrov v letu 2006), kar pomeni poveËanje vvišini 3,32 milijona evrov ali 13,0 %.Stroški zaposlenih so se v letu 2007 poveËaliza 2,30 milijona evrov na 15,42 milijonaevrov. VeËji del poveËanja je posledicapoveËanega števila zaposlenih. Ob konculeta 2007 je banka zaposlovala 450 ljudi,preraËunano na zaposlene osebe za polnidelovni Ëas (leta 2006 417 zaposlenih),povpreËno v letu 2007 434 zaposlenih(povpreËno v letu 2006 405 zaposlenih). Vletu 2007 je banka prviË pripoznala stroške zaneizkorišËen dopust zaposlenih v znesku 0,45milijona evrov.Ostali administrativni stroški so se v letu2007 poveËali za 1,02 milijona evrov na13,42 milijona evrov. Zaradi preimenovanjain spremembe blagovne znamke banke so semarketinški stroški poveËali za 1,68 milijonaevrov na 2,89 milijona evrov, stroškikomunikacij pa so ostali na enaki ravni -1,28 milijona evrov. Po drugi strani pa so sestroški, povezani z informacijsko tehnologijo(IT), zmanjšali za 1,59 milijona evrov na2,18 milijona evrov, ker so bili stroški obuvedbi evra v letu 2006 enkratne narave.809%9%Amortizacija se je z 2,92 milijona evrov vletu 2006 poveËala na 3,16 milijona evrovv letu 2007.604020037%36%42%39%Deleæ 2006 Deleæ 2007OSLABITVE IN REZERVACIJEAMORTIZACIJACIJAOSTALI ADMINISTRATIVNI STRO©KISTRO©KI ZAPOSLENIHV UniCredit Banka Slovenija d.d. skušamozmanjšati izgube zaradi oslabitev finanËnihsredstev z najsodobnejšimi tehnikami zaobvladovaje tveganj in osredotoËanjem nastranke z visoko stopnjo kreditne kvalitete.V letu 2007 oslabitev sredstev, vkljuËno zrezervacijami, znaša 4,31 milijona evrov(leta 2006 5,41 milijona evrov), kar pomenizmanjšanje v višini 1,10 milijona evrovali 20,4 %.V letu 2007 je banka dosegla dobiËek predobdavËitvijo v višini 19,71 milijona evrovv primerjavi s 14,75 milijona evrov v letu2006, kar pomeni 33,6 % poveËanje.V okviru odhodkov za davke v višini 4,53milijona evrov (leta 2006 3,82 milijona24 2007 Letno poroËilo · UniCredit Bank


evrov) banka beleži tekoËe davke v višini3,52 milijona evrov (leta 2006 8,95 milijonaevrov) in odložene davke v višini 1,01milijona evrov (leta 2006 prihodek v višini5,13 milijona evrov).»isti dobiËek poslovnega leta znaša 15,18milijona evrov v primerjavi z 10,93 milijonaevrov v letu 2006, kar pomeni poveËanjeza 39 %.1009080Sredstva3% 3%7%17%Bilanca stanjaza leto 2007UniCredit Banka Slovenija d.d. je bilav zadnjih letih med najhitreje rastoËimibankami v Sloveniji in je od leta 2003 veË kotpodvojila bilanËno vsoto. Vendar pa izrazitozmanjšanje marž na aktivi iz poslovanja spodjetji (slednje so na trgu pogosto že podinternim minimumom marž za banko) inuveljavitev koncepta upravljanja na osnovivrednosti (t.i. value based management)vodita v osredotoËanje na dobiËkonosnorast bolj kot na neomejeno rast na podroËjuposlovanja s strankami. Poleg tega je zuvedbo evra Banka Slovenije prenehalaizdajati blagajniške zapise, v katere jeUniCredit Banka Slovenija d.d. v preteklostiintenzivno investirala (konec leta 2006187,78 milijona evrov) z namenom doseganjaarbitražnih dobiËkov. Zaradi pomanjkanjaalternativnih naložb z enakim profilomtveganja je banka zmanjšala depozite bank pozapadlosti blagajniških zapisov. Tudi posojilain terjatve do bank so se znižali za 230,50milijona evrov zaradi omejenega razmerjatveganje/donos. PoslediËno so se skupajsredstva v letu 2007 zmanjšala za 54,60milijona evrov na 2.132,69 milijona evrov.V skladu z mednarodno prakso lokalnadivizija Zakladništvo zavzema obrestnepozicije prek obrestnih zamenjav (IRS-Interest Rate Swaps). Trg obrestnih zamenjav70605040302010058%7%5%9%obiËajno izplaËuje višje obrestne merekot trg obveznic, poleg tega pa ne porabiskoraj niË likvidnih sredstev. Obveznice seveËinoma kupujejo zaradi spoštovanja uredbBanke Slovenije o likvidnosti ali z namenomodpiranja pozicije kreditnega tveganja, kivkljuËuje zmanjšanje obrestnega tveganja,vgrajenega v obveznico prek obrestnezamenjave, pri kateri se plaËuje fiksnaobrestna mera (payer IRS). Iz raËunovodskihrazlogov se te pozicije izkazujejo vtrgovalnem portfelju. PoslediËno so se v letu2007 obËutno zvišala tudi finanËna sredstva,uvršËena kot v posesti za trgovanje, in sicerza 71,84 milijona evrov na 189,26 milijonaevrov. Pozicija poleg dolžniških instrumentovvkljuËuje tudi pozitivno tržno vrednostizvedenih finanËnih instrumentov, ki so ob75%5%9%0%1% 1%Deleæ 2006 Deleæ 2007DRUGA SREDSTVAKREDITI BANKAMKREDITI STRANKAMRAZPOLOÆLJIVA ZA PRODAJONAMENJENA TRGOVANJUV POSESTI DO ZAPADLOSTIDENAR IN STANJE NA RA»UNIH PRI CBkoncu leta znašali 54,26 milijona evrov (leta2006 24,13 milijona evrov). Ta poveËanatržna vrednost je posledica zvišanja obsegatrgovanja z izvedenimi finanËnimi instrumenti,po katerih povprašujejo stranke, kot tudimoËnega porasta krivulje donosnosti evra vletu 2007.Za prodajo razpoložljiva finanËna sredstva sose v letu 2007 zmanjšala s 157,86 milijonaevrov na 115,38 milijona evrov. Pozicijaje sestavljena iz kapitalskih naložb bankein konvergentnih pozicij, v katere je bankavstopila pred uvedbo evra v Sloveniji.Posojila in terjatve do strank, ki niso banke,so se zvišali za 328,60 milijona evrov (leta2006 258,76 milijona evrov) in dosegliUniCredit Bank · 2007 Letno poroËilo25


Poslovno poroËiloFinanËni rezultati10090807060504030Obveznosti7% 8%0% 1%13% 11%27%34%52%44%Delniški kapital se je v letu 2007 poveËalza preneseni dobiËek iz leta 2006. Zaradifinanciranja prihodnje rasti in tudi zato,da bo delovala skladno z veljavnimipredpisi Banke Slovenije, ki se nanašajona kapitalsko ustreznost, bo banka zadržalacelotni dobiËek leta 2007 in ne bo izplaËaladividend. Delniški kapital znaša 163,62milijona evrov (leta 2006 146,87 milijonaevrov). V skladu z veljavnimi predpisi jepodjetje KPMG v UniCredit Banka Slovenijad.d. izvedlo medletno revizijo s pritrdilnimmnenjem; banka je dobiËek iz prvih devetihmesecev poslovanja lahko upoštevala vkapitalu za izraËun kapitalske ustreznosti.Stopnja kapitalske ustreznosti je do koncaleta 2007 dosegla vrednost 8,5 % (leta2006 9,5 %).NAMENJENE TRGOVANJU20DEPOZITI BANKDEPOZITI STRANK1001% 2%Deleæ 2006 Deleæ 2007KREDITI OD BANKDRUGOKAPITAL1.595,23 milijona evrov do konca leta. Odtega se 1.084 milijonov evrov nanaša nasegment poslovanja s podjetji, preostalih511 milijonov evrov pa na segmentposlovanja s prebivalstvom. Visoka rastv segmentu poslovanja s prebivalstvomje rezultat poveËanja pozornosti bankesegmentu prebivalstva. Posojila in terjatvedo bank so se zmanjšali z 378,78 milijonaevrov v letu 2006 na 148,16 milijona evrovv letu 2007.V okviru finanËnih naložb v posesti dozapadlosti v plaËilo je UniCredit BankaSlovenija d.d. za leto 2006 izkazovalablagajniške zapise Banke Slovenije. Zukinitvijo tega instrumenta po uvedbi evrabanka ni veË uvršËala nobenih sredstev vportfelj v posesti do zapadlosti v plaËilo.PoveËanje na strani sredstev je bilo pretežnofinancirano s finanËnimi obveznostmi,merjenimi po odplaËni vrednosti, ki sose s 1.999,90 milijona evrov v letu 2006zmanjšale na 1.904,25 milijona evrov konecleta 2007. Posojila in vloge strank so sepoveËali s 594,16 milijona evrov na 721,54milijona evrov, posojila in vloge bank pa sose v istem obdobju s 1.405,74 milijona evrovznižali na 1.182,71 milijona evrov ali za 16,2 %.FinanËne obveznosti v posesti za trgovanjeso se v letu 2007 veË kot podvojile indosegle raven 50,45 milijona evrov. Pozicijaje sestavljena izkljuËno iz negativne tržnevrednosti izvedenih finanËnih instrumentov,kar je posledica trgovanja s strankami.26 2007 Letno poroËilo · UniCredit Bank


Poslovanje bankena razliËnih segmentihPoslovanje sprebivalstvom in malimipodjetjiSegmenti strank30Prihodki3.12325Splošen pregledV letu 2007 je UniCredit Banka Slovenijad.d. naËrtno poveËala osredotoËenostna poslovanje s prebivalstvom. PolegpoveËanja prihodkov na letni ravni za 34 %so bili nekateri izmed najbolj pomembnihdosežkov v letu 2007 naslednji: postavitevstabilne in ambiciozne vodstvene ekipe inselekcija najboljših prodajnih kadrov, uvedbastrokovnih funkcij, ki so specializirane zaposamezne segmente in produkte, uvedbastrukturiranega prodajnega pristopa v praksoter zaËetek projekta reinženiringa najboljpomembnih poslovnih procesov.201510506562.65235619.45914.6362006 2007PRIVATNO BAN»NI©TVOMALA PODJETJAFIZI»NE OSEBEDosegli smo tudi odliËne rezultate primerjenju zadovoljstva strank, kar ustvarjapodlago za nadaljnjo širitev poslovanja sprebivalstvom v prihodnjih letih. V središËunaše ponudbe so optimalne rešitve zarazliËne finanËne potrebe naših strank.Z veË kot 100 banËnimi svetovalci v 14poslovalnicah po vsej državi, pa tudi spomembno pomoËjo naših mobilnihprodajnih agentov, smo uspešno poskrbeliza naše številne stranke. Njihovozadovoljstvo smo ocenili s pomoËjostrukturiranega in certificiranega vprašalnika,ki ga naša banËna mreža skupine UniCreditGroup pripravi vsaki dve leti. Po izsledkihraziskave so stranke naše banke med daleËnajbolj zadovoljnimi banËnimi strankami vSloveniji.1. Segment fiziËnih osebTa segment postaja za banko najboljpomemben segment z vidika prihodkov,saj je v letu 2007 prispeval že 34,2 %k skupnim prihodkom banke. To je tudisegment z najvišjo stopnjo rasti prihodkov,ki je v letu 2007 znašala 35 %.Krediti so še vedno osrednji produkt tegasegmenta. NajveËji delež rasti prihodkov grepripisati konkurenËni ponudbi in uspešniprodaji hipotekarnih stanovanjskih kreditov.Rast volumna je bila kar 47-odstotna, sËimer smo nedvomno presegli povpreËnestopnje rasti na slovenskem trgu.Po drugi strani pa smo bili zelo dejavni inkonkurenËni tudi s ponudbo depozitov.V letu 2007 smo bili prva banka v Sloveniji,ki je na trgu ponudila strukturirani depozit.Dve uspešni prodajni akciji za nove produktein privlaËna cenovna politika so omogoËili,da nenehno poveËujemo skupne depozite inprihodke.Z revizijo ponudbe paketov transakcijskihraËunov smo v zaËetku leta zmanjšali številorazpoložljivih paketov, vendar smo njihovovsebino približali specifiËnim potrebamposameznih podsegmentov strank.2. Segment malih podjetijUvedba evra je v doloËeni meri negativnovplivala na prihodkovni potencial segmentamalih podjetij, saj je prihodek, ki je bil vpreteklosti ustvarjen iz naslova konverzijtujih valut ter iz naslova tujega plaËilnegaprometa, v veËji meri Ëez noË izginil. Kljubtemu pa je uvedba evra prinesla tudi noveprodajne priložnosti, ki smo jih uspešnoizkoristili. Segment malih podjetij je bil vzaËetku leta 2007 tudi na novo vsebinskoopredeljen in prestavljen iz divizijePoslovanja s podjetji v divizijo Poslovanja sprebivalstvom.Naše stranke v tem segmentu še vednonajbolj povprašujejo po produktih zafinanciranje. BanËni prihodki iz naslovakreditov, namenjenih financiranju obratnegakapitala in investicij, skupaj predstavljajoveËino celotnega prihodka tega segmenta.Kljub likvidnostno-kreditni krizi, ki se jev lokalnem okolju intenzivneje pojavila vzadnjem kvartalu leta 2007, smo našimkomitentom zagotovili dovolj finanËnihUniCredit Bank · 2007 Letno poroËilo27


Poslovno poroËiloPoslovanje bankena razliËnih segmentihsredstev po konkurenËnih pogojih, da smozadovoljili veËino njihovih potreb in jim stem omogoËili neprekinjen razvoj in rastnjihovega poslovanja.S preoblikovanjem vsebine in ponovnimdefiniranjem cen za pakete transakcijskihraËunov smo uspešno prisluhnili potrebammikro in malih podjetij. V letu 2007 smotako pridobili številne nove stranke sposlovnimi transakcijskimi raËuni.3. Segment privatnega banËništvaPonudba banke za segment najzahtevnejšihfiziËnih oseb se nenehno dopolnjuje inrazvija. Še naprej razvijamo in uvajamo novesodobne pristope, Ëeprav smo nekaj novihkompleksnejših, predvsem investicijskihproduktov in storitev že vpeljali naslovenski trg. Naš prestižni klub imetnikov”Plemenitega paketa”, produktov in storitevprivatnega banËništva, se je bistvenopoveËal in nakazuje, da bomo zastavljenidolgoroËni cilj presegli.Kasnejša uvedba investicijskih skladovskupine Pioneer Investments na trgu vseptembru je bila poleg že omenjenelikvidnostno kreditne krize, ki se je poznalatudi na kapitalskih trgih, glavni razlog, daje bil obseg prodaje skladov v letu 2007nižji od priËakovanega, vendar pa sta samauvedba na trg in kasnejša prodaja potekalibrez težav in v skladu z naËrtom. Ne gledena slednje optimistiËno priËakujemopoveËan obseg prodaje skladov skupinePioneer Investments v prihodnje. Sklade jenamreË mogoËe ponuditi tudi v kombinacijiz razliËnimi drugimi banËnimi produkti, kotso denimo lombardni krediti ali zavarovalniprodukti.ZahvaljujoË tesnejšemu sodelovanju zdivizijo Poslovanje s podjetji, še posebej zoddelkom za strukturirano financiranje, jevolumen prodanih kreditov krepko presegelnaËrte. FinanËne konstrukcije po meri zamenedžerske nakupe in odkupe podjetij,predvsem v segmentu srednje velikih podjetij,so banki omogoËile ne le dostop do novihstrank iz segmenta privatnega banËništva,ampak tudi poveËan prihodnji potencial zaveËji volumen sredstev v upravljanju za testranke.ProduktiKrediti so še naprej gonilna sila rasti bankein prispevajo pomemben delež celotnihprihodkov na podroËju poslovanja sprebivalstvom. Ne glede na to verjamemo,da še vedno obstaja potencial za nadaljnjosrednjeroËno rast.Ugodni trendi na denarnem trgu so imelipozitiven vpliv na prihodkovni potencialbanËnega sektorja v letu 2007, saj je veËinabank uspela ustvariti nadpovpreËne prihodkeiz naslova depozitov. V UniCredit BankaSlovenija d.d. smo uspeli dodatno poveËatiskupni volumen depozitov v primerjavi spreteklim letom.»eprav so prihodki iz naslova drugihbanËnih storitev prav tako zrasli, pa ostaja to1009080706050403020100Produkti2.308 2.004107995.0797.40310.150 13.7322006 2007podroËje najveËja še ne dovolj izkorišËenapriložnost za banko. V prihodnje naËrtujemosorazmerni dvig deleža teh storitev vskupnih prihodkih, v glavnem skozi poveËanobseg prodaje investicijskih skladov skupinePioneer Investments.ObetiUniCredit Banka Slovenija d.d. bo še naprejsledila ambicioznim ciljem na podroËjuposlovanja s prebivalstvom, in sicer:• s poveËanjem prihodkov indobiËkonosnosti,• z ohranjanjem vodilne vloge prizadovoljstvu strank,• s poveËevanjem ponudbe naših finanËnihrešitev,• z izboljšanjem procesov, da bi zagotoviliše bolj praktiËne rešitve za naše stranke,• z dodatnimi vlaganji in izobraževanjemnaših svetovalcev, da postanejo vrhunskifinanËni svetovalci tako na podroËjuosebnega banËništva kot tudi na podroËjupodjetniških financ.DRUGE BAN»NE STORITVEIZVENBILAN»NI PRODUKTIDEPOZITIKREDITI28 2007 Letno poroËilo · UniCredit Bank


Pozitivni rezultati v letu 2007 so namdali dodatno zaupanje in energijo prednaslednjim velikim korakom - pomembnorazširitvijo obsega poslovanja sprebivalstvom v naslednjih treh letih. V letu2008 bomo tako zaËeli izvajati ambiciozennaËrt širitve prodajne mreže, najprej zodprtjem šestih novih poslovalnic in sstoritvami sodobnega klicnega centra.Naša pozornost bo poleg hipotekarnihstanovanjskih kreditov usmerjena tudina træenje investicijskih skladov skupinePioneer Investments, ki smo jih vpeljaliseptembra 2007. Za ta dva produkta bomonadaljevali z najbolj konkurenËno ponudbo.Poleg tega nameravamo popestriti ponudboinvesticijskih produktov skupaj z našimnovim zavarovalniškim partnerjem.Naše obstojeËe in nove poslovne strankebodo lahko za podporo poslovanjuuporabljale celotno banËno mrežo in ne veËle regionalna središËa. Banka se nameravatudi približati svojim strankam, še posebejmikro podjetjem.Upravljanje sredstev in nekaj drugihinvesticijskih storitev bomo uvedli zanaše najzahtevnejše stranke iz segmentaPrivatnega banËništva.OdloËeni pa smo še naprej vlagati v razvoj,znanja in sposobnosti našega prodajnegaosebja, da bomo še bolje izkoristili poslovnipotencial in zaupanje naših strank.Poslovanje s podjetjiSplošen pregledZelo dobro makroekonomsko okolje in vseveËja gospodarska rast, ki je znašala okrogšest odstotkov, sta v letu 2007 še naprejvabila nove tekmece, pa tudi obstojeËiudeleženci so bìli vse hujšo bitko v skorajvseh segmentih trga.V prvi polovici leta 2007 se je nadaljevaltrend upadanja obrestnih marž, kar jepomenilo, da so bile obrestne marže naslovenskem banËnem trgu za podjetja sprimerljivo boniteto v primerjavi z evropskoravnijo nizke, ne-obrestni prihodki pa so šenaprej pridobivali na pomenu v primerjavi zobrestnimi prihodki.V drugi polovici leta 2007 je bilo mogoËetudi v Sloveniji zaËutiti vpliv krize zaupanjav banËni sistem, ki se je širila iz ZDA.MedbanËni denarni trg je postal zeloobËutljiv na novice, povezane z izgubami,ki se nanašajo na trg ameriških hipotekarnihposojil. Vse to je povzroËilo negotovost,višje cene medbanËnih posojil in poslediËnotudi kreditov za stranke.Slovenija, ki je od leta 2004 enakopravnaËlanica Evropske unije, je tudi v letu2007 obËutila velike konkurenËne pritiskev doloËenih gospodarskih panogahin poslabšanje poslovanja nekaterihgospodarskih subjektov. Uvedba evra kotenotne valute je pomenila dodatno izguboprihodkov na podroËju plaËilnega prometa invalutnih zamenjav.Na podroËju poslovanja s podjetji jeUniCredit Banka Slovenija d.d. v letu 2007dosegla dobre rezultate in tako (kljub visokikonkurenËnosti panoge in nadaljevanjuupadanja obrestnih marž v prvi polovicileta) presegla zastavljene naËrte. Celoletniprihodki so bili 14 % nad planom in 12 %nad lanskim rezultatom. Rast prihodkov napodroËju nepremiËninskega financiranja jebila kar 29-odstotna. Banka je tako uspelaobdržati dobro rast, kar v danih razmerahin ob delno spremenjeni politiki banke,ki se v veËji meri osredotoËa na relacijomed tveganjem in donosom na kapital terhkrati upošteva dodatne analize kreditnegatveganja, pomeni velik uspeh.Skupni tržni delež na podroËju posojil se jenekoliko znižal, kar je v glavnem posledicakonzervativne politike banke, ki je podlagaza temeljito presojanje bonitete podjetijin pomeni, da odklonimo marsikateriposel, ki bi po naši politiki veljal za preveËtveganega. Poleg tega smo bili v primerjavis konkurenco manj agresivni pri sklepanjukreditnih poslov, Ëe ponujeni posel nidosegal zahtevanih razmerij med donosomin tveganji.Po drugi strani smo poveËali tržni delež vne-obrestnih prihodkih, predvsem s produktiupravljanja s tveganji za podjetja in delnos posebnimi banËnimi produkti, kot so naprimer projektno financiranje, trgovinskofinanciranje, upravljanje z denarnimisredstvi, produkti v mreži skupine UniCreditGroup (t.i. Group Payment Products).Segmenti in produktiKljub zabeleženemu rahlemu padcu pri virihsredstev do pravnih oseb v letu 2007 smov okviru posameznih sektorjev dosegli velikporast. Tak primer je segment srednje velikihpodjetij, kjer se je obseg depozitov poveËalza 36 % glede na prejšnje leto.Rast obsega kreditov banke do pravnih osebje bila 15 % veËja glede na preteklo leto, odtega v posameznih segmentih tudi višja, kotna primer na podroËju nepremiËninskegain projektnega financiranja, kjer je rast kar43-odstotna, in v segmentu srednje velikihpodjetij, kjer gre za 38-odstotno rast.Obseg tujega plaËilnega prometa se jepoveËal za 50 % na podroËju elektronskihnalogov, obseg domaËega plaËilnegaprometa na podroËju elektronskih nalogovza 54 %, skupno število transakcij pa seje poveËalo za 21 %. Zaradi prilagoditevplaËilnega sistema evropskim direktivam naeni strani in uvedbi evra na drugi je bankanaËrtovala izpad dohodkov v višini približno1 milijon evrov zaradi nižjih ne-obrestnihUniCredit Bank · 2007 Letno poroËilo29


Poslovno poroËiloPoslovanje bankena razliËnih segmentihprihodkov na podroËju valutnih zamenjav,nižjih provizij pri plaËilnem prometu oz.izenaËenja provizij domaËega plaËilnegaprometa s provizijami za Ëezmejni plaËilnipromet in nižjih provizij pri upravljanju zdenarnimi sredstvi. Dejansko je bil izpaddohodka še za 15 do 20 % veËji. Kljub temusmo izgubo prihodkov veË kot nadomestilina drugih podroËjih.Banka je v skrbi za doseganje boljšihrezultatov pri svojih partnerjih, ki vsebolj spoznavajo prednosti varovanja predteËajnimi, blagovnimi in obrestnimi tveganji,tudi v letu 2007 ponudila instrumente, kipomagajo znižati takšna tveganja.Banka je bila zelo uspešna pri obrestnemšËitenju (obrestni swap), pri sestavljenihinstrumentih zašËite pred obrestnimitveganji in pri terminskih deviznih poslih,ki šËitijo pred valutnim tveganjem. Priskupnem tržnem deležu teh poslov smo biliabsolutno prvi na slovenskem trgu, z veË kot50-odstotnim deležem in 141-odstotnimporastom v letu 2007.Banka je gradila tudi znanje o produktih instoritvah na zahtevnem in kompleksnempodroËju projektnega financiranja inuspešno izvedla kar nekaj tovrstnih poslov.Ponudbo na podroËju upravljanja zdenarnimi sredstvi (cash management)smo še izboljšali in naredili nekaj dodatnihkorakov pri ponujanju zahtevnejših storitev,kot je avtomatsko združevanje sredstev (cashpooling). Vrsta podjetij, ki se odloËajo zatovrstne storitve, se poveËuje tudi zaradiustanavljanja hËerinskih podjetij slovenskihdružb na tujih trgih.V okviru projekta preimenovanja banke,v katerega je bila sicer vkljuËena celotnabanka, smo med drugim uspešno prenoviliinternetno stran, ki je sedaj uporabniku zeloprijazna, kar dokazujejo pozitivni odzivi našihobstojeËih in potencialnih strank.Poleg tega, da smo presegli naËrte v skupnihprihodkih, smo s stroškovno in procesnouËinkovitostjo pomembno poveËali tudiprispevek k skupnemu dobiËku banke.ObetiUniCredit Banka Slovenija d.d. bo še naprejsledila ambicioznim ciljem na podroËjuposlovanja s podjetji, in sicer:• z nadaljnjo rastjo prihodkov, donosnostiin nadpovpreËno rastjo ne-obrestnihprihodkov,• z veËanjem zadovoljstva strank v primerjaviz drugimi bankami in glede na pretekloobdobje,• z ohranitvijo oziroma doseganjemvodilnega mesta na podroËju produktov,kot so strukturirani depoziti, instrumentiza zmanjševanje tveganj, izdaja obveznic,projektno financiranje in drugih,• z izboljšanjem prodajnega procesa vsmislu veËje preglednosti in uËinkovitostitako za stranke kot za zaposlene,• z razvijanjem znanja, izkušenj inzadovoljstva ekipe, kar je pogoj zadolgoroËno uspešnost.V letu 2008 priËakujemo, da bo konkurencav banËnem okolju še moËnejša, k težkimpogojem poslovanja pa bo prispevalotudi spremenjeno gospodarsko okolje vdržavi. Predvidena višja rast inflacije innižja rast BDP bo vodila do slabših razmerza poslovanje podjetij, kar bo poslediËnopomenilo tudi spremembo pogojev za banke,saj bodo tveganja veËja.Kljub napovedi slabe gospodarske rasti medštiri in pet odstotki bo naša usmeritev tudiv prihodnje zagotavljati kakovostne storitveza naše stranke in z usposobljenim banËnimkadrom presegati zadane poslovne naËrte.ZakladništvoPoslovno podroËje zakladništva zajemadejavnosti banke na podroËju trgovanja zvalutami, obrestnimi merami in dolžniškimivrednostnimi papirji, prodajo zakladniškihproduktov poslovnim in institucionalnimstrankam ter izdajo dolžniških vrednostnihpapirjev. PodroËje torej povezujemednarodne finanËne trge s strankami inbanko. V skladu s takšno usmeritvijo bov letu 2008 izpeljana integracija enoteborznega posredništva in enote skrbništva,s Ëimer bo ustvarjena uËinkovita strukturaz jasnim sistemom vodenja. Takšnareorganizacija bo omogoËila nadaljnjoširitev in poglobitev nabora produktovin storitev, ki jih ponujamo strankam.Verjamemo, da bosta doslej loËeni enotiimeli koristi predvsem iz naslova pretokaznanj, sposobnosti plasiranja in prisotnostina trgu, kar bo na koncu prineslo koristtudi strankam. Pri tem nam bo v oporonaša velika mednarodna finanËna skupina zmednarodno prepoznavnostjo na podroËjutrgovanja na mednarodnih finanËnih trgih terpri investicijskem banËništvu.Splošen pregledZa poslovno podroËje zakladništva je biloleto 2007 zelo uspešno. Skupni prihodkiso se poveËali za 0,6 milijona evrov indosegli skupaj 8 milijonov evrov, kljubizgubi tradicionalnih elementov prihodka,povezanih z uvedbo enotne evropske valuteevro v Sloveniji ter opustitvijo deviznekonverzije. Poslovno podroËje mednarodnihtrgov je ob uporabi le 4 % kapitala bankepoveËalo svoj delež v celotnem profitubanke na kar 25 %. Donos na alociranikapital je dosegel 81 %. Razlogi za dobreposlovne rezultate so tako na straniposlovanja s strankami kot tudi na stranitrgovalne dejavnosti.Segmenti in produktiTrgovanje z valutami in obrestnimi merami:Kljub okolišËinam, ki jih je zaznamovalašibkost kljuËnih trgov in poveËananestanovitnost, povzroËena s kreditno30 2007 Letno poroËilo · UniCredit Bank


krizo v ZDA, je enota trgovanja v letu2007 dodala velik prispevek v skupnihprihodkih, ki so znašali 4,7 milijona evrov.NajveËji prispevek k takšni rasti je bil iznaslova trgovanja z izvedenimi finanËnimiinstrumenti, vezanimi na obrestne mere.Prodaja zakladniških produktovposlovnim strankam:V letu 2007 se je pri podjetjih nadaljevaltrend varovanja pred prevelikimi nihanjivalut, obrestnih mer in cen surovin. Prodajazakladniških produktov podjetjem je nanarašËajoËe povpraševanje strank odgovorilas paleto novih in inovativnih produktov izdružine izvedenih finanËnih instrumentovna podroËju obrestnih mer, menjalniškihteËajev in surovin. V letu 2007 je tako bankaohranila jasen vodilni položaj v Sloveniji napodroËju strategij za zmanjševanje tveganjin optimizacije.Pri strankah zaznavamo nov trend, in sicerželjo po zmanjšanju tržne nestanovitnostiin prestrukturiranju obstojeËih kritij predtveganji, da bi dodatno zmanjšali stroškeobresti in poveËali prihodek. Kot vodilnabanka v Sloveniji pri inovacijah bomona tem podroËju še naprej uvajali noverešitve, krojene po meri strank v segmentuposlovanja, ki zahteva visoko raven znanj inizkušenj. Nova skupina strank za izvedenefinanËne instrumente so zasebne stranke,ki so vse bolj zainteresirane posebej zainovativne naložbene produkte. Znotraj bankenosi enota za prodajo zakladniških produktovposlovnim strankam odgovornost za razvojin izvedbo produktov, ki so namenjeni tržnimtveganjem za podjetja. DobiËek, ustvarjen natem poslovnem podroËju, sodi na podroËjeposlovanja s podjetji.Institucionalna prodaja:V letu 2006 se je banka odloËila povezativse vidike odnosov z institucionalnimistrankami (zavarovalnice, investicijskiin pokojninski skladi ter druge finanËneustanove) v eno organizacijsko enoto, dabi bolje razumela potrebe tega segmentastrank in izboljšala kakovost storitev.Prodaja institucionalnim strankam je vletu 2007 zabeležila poveËanje tako poobsegu transakcij kot tudi v prihodkih,saj je z rezultatom 1,6 milijona evrov veËkot podvojila rezultat, ki ga je dosegla vpreteklem letu. Približno enak prispevek paje bil zabeležen na strani izvedenih finanËnihinstrumentov in operativnih produktov, kotso denimo konverzije valut in posredovanjepri trgovanju z vrednostnimi papirji.Dejavnosti izdaje dolžniških vrednostnihpapirjev:V letu 2007 je UniCredit Banka Slovenijad.d. prevzela vodilno vlogo organizatorjaizdaj obveznic za stranke, z dvema uspešnooprevljenima izdajama. Marca je tako bankaopravljala nalogo vodilnega soorganizatorjaizdaje (Joint Lead Manager) skupaj sSociete Generale in Dresdner Kleinwort zaprvo izdajo obveznice Republike Slovenijeznotraj EMU v vrednosti ene milijarde evrov.Povpraševanje po obveznici je bistvenopreseglo velikost izdaje, zato je bilaobveznica plasirana po zelo ugodni ceni.Drugi uspeh je bila prva izdaja obveznicpodjetja Droga Kolinska Živilska industrijad.d., kjer je imela banka vlogo edinegaorganizatorja izdaje pri plasiranju dolga vvrednosti 30 milijonov evrov na domaËitrg, s Ëimer smo dokazali distribucijskezmogljivosti banke na slovenskemobvezniškem trgu. Na splošno na dejavnostnovih izdaj negativno vpliva davËnazakonodaja, ki regulira davek po odbitku,saj zaradi poslediËno nižjih donosov odvraËatuje investitorje od nakupa podjetniškihobveznic. Kljub temu priËakujemo, da sebo v letu 2008 pri podjetjih nadaljevaltrend diverzificiranja dolga. S predanimprodajnim osebjem v Sloveniji in z veË kot200 profesionalnimi prodajnimi predstavnikipo vsej Evropi je banka odliËno pripravljena,da svojim strankam ponudi in zanje izvedeširok nabor instrumentov trga dolžniškihvrednostnih papirjev tako doma kot v tujini.Posredovanje pri trgovanjuz vrednostnimi papirji:Zaradi poveËane nestanovitnosti na trgihv jeseni 2007 je oddelek posredovanjaponovno dosegel rekordno leto tako z vidikaprometa kot tudi z vidika tržne pozicije.UniCredit Banka Slovenija d.d. je šenaprej referenËni partner za mednarodneposrednike, ki so aktivni v Sloveniji. Bankaje zakljuËila leto 2007 kot drugi najveËjiposrednik na Ljubljanski borzi vrednostnihpapirjev s prometom v višini 341 milijonovevrov. Pozitivni trend poveËujejo še v tujinousmerjeni tokovi slovenskih strank, ki cenijonaš dostop do trgov in kakovost storitev. Vletu 2008 bomo še naprej investirali, da biše dodatno poveËali uËinkovitost in kakovostproduktov, ki jih ponujamo temu segmentustrank.Skrbništvo:Razvoj na podroËju skrbništva gre v enakismeri kot razvoj borznega posredovanja,saj so tako sredstva v upravljanju kot tudištevilo obdelanih transakcij v letu 2007dosegli rekordno raven. Kljub nenehnemupritisku na provizije je podroËje skrbništvadoseglo najboljše rezultate v svojizgodovini s prihodki v višini 1,6 milijonaevrov. UniCredit Banka Slovenija d.d. si jezagotovila skrbniški mandat pri prihajajoËiuvedbi Euroclear in Clearstream povezave sKDD - centralno klirinško depotno družbo,kar bo pomagalo ublažiti morebitno izgubotradicionalnega prihodka iz naslova provizijv tem segmentu. Poleg ohranjanja svojevloge kot enega vodilnih depozitarjev tujihvlagateljev v Sloveniji banka v letu 2008naËrtuje tudi pomembno poveËanje svojegadeleža pri storitvah slovenskih strank v tujini,in sicer s poveËanjem zmogljivosti odnosovs strankami in z izboljšanjem kakovostiproduktov.UniCredit Bank · 2007 Letno poroËilo31


Poslovno poroËiloPoslovanje bankena razliËnih segmentihPodpora prodajiV UniCredit Banka Slovenija d.d. sezavedamo, da morajo produkti in storitve,ki jih ponujamo, Ëim bolj zadovoljitispecifiËne potrebe strank, da bi se to lahkoodražalo v zadovoljstvu strank, kar je enakljuËnih strateških usmeritev banke. Vokviru divizije Podpora prodaji smo v letu2007 poskrbeli za pripravo, organizacijo inspremljanje uËinkovitosti prodajnih akcij,ustrezno upravljanje s prodajnimi segmentiin razvoj novih produktov. Meritve indeksovzadovoljstva strank na podroËju poslovanjas podjetji in na podroËju poslovanja sprebivalstvom in malimi podjetji, ki jihizvajamo usklajeno s skupino UniCreditGroup, so lani pokazale zavidljiv rezultat priposlovanju s prebivalstvom, ki nas uvršËa naprvo mesto med bankami, pri poslovanju spodjetji pa že nekaj let zapored dosegamonajvišje rezultate na podroËju zadovoljstvastrank.Indeks zadovoljstva strank pri poslovanjus prebivalstvom izraËunava neodvisnainstitucija TNS, kar nam omogoËaprimerjavo z ostalimi bankami v skupiniUniCredit Group in ostali bankami v Evropi inVisoka stopnjaohranjanja strank90705030Nizka stopnjaohranjanja strank68 69Tekmeci v Sloveniji- Poslovanje s prebivalstvomSloveniji. V letu 2007 smo dosegli najboljširezultat v Skupini, presegli zadovoljstvostrank konkurenËnih bank v Sloveniji, kiznaša v povpreËju 70 toËk, z rezultatom 99toËk pa smo se uvrstili med najboljših petodstotkov bank v Evropi. Ohranjanju visokegazadovoljstva strank v vseh segmentih bomosledili tudi v prihodnje.Pri poslovanju s podjetji smo na podobniravni kot konkurenca.Uvedbo novih produktov v letu 2007sta zaznamovali uspešni izdaji dvehstrukturiranih depozitov, s katerima smosledili inovativnosti, ki je del strategije banke.Vpeljali smo lombardne kredite in Ëezmejnekreditne linije (››cross border credit plus«),zanimive predvsem za stranke, ki potrebujejoËezmejno podporo. Jeseni smo zaËeli strženjem krovnih skladov skupine PioneerInvestments, s katerimi smo v Slovenijopripeljali mednarodnega upravljavca skladov.V letu 2007 smo nadaljevali uspehe priuporabi alternativnih komunikacijskihkanalov, kot so direktna pošta, sodelovanje spartnerji in poveËevanje navzkrižne prodaje.Sprememba imena in blagovne znamke jeFinance-Evropa- Poslovanje s prebivalstvom99UniCredit Banka Slovenija d.d.-Poslovanje s prebivalstvomzaznamovala lanske oglaševalske akcije. Pritem smo upoštevali, da se potrebe našihstrank razlikujejo glede na posamezensegment. Tako se pri komunikaciji spodjetji osredotoËamo na organizacijorazliËnih dogodkov, s katerimi skrbimo zauËinkovit prenos znanja najboljših praksna podroËju strukturiranega financiranjain izvedenih finanËnih instrumentov. Izdalismo tudi Azimut, prvo številko revije zanaše kljuËne stranke, s katero želimo nainovativen naËin poudariti našo skrb zarazvoj posameznika in širšo zainteresiranostbanke za družbeni razvoj. V komunikacijis prebivalstvom smo naredili preskokv oglaševalskem tonu. Korporativnaoglaševalska akcija je temeljila na aktivnemsporoËanju spremembe blagovne znamke.Blagovna znamka UniCredit Bank temelji naunikatni, prepoznavni, sodobni, dinamiËniin Ëustveni osnovi, kar bo opazno v vsehkomunikacijskih orodjih tudi v prihodnosti.Trenutne raziskave torej že zagotavljajo, daje blagovna znamka UniCredit Bank zelohitro postala sinonim za odliËnost tudi vslovenskem banËnem prostoru. RaziskavaBrand Equity Study index, ki jo izvajamo vcelotni Skupini nam omogoËa preverjanjeprepoznavnosti, ugleda in nagnjenosti kponovnemu nakupu. Ponosni smo, da smoz akcijo v okviru preimenovanja dosegli40-odstotno ››aided« prepoznavnost,v posameznih segmentih celo do 80odstotkov. Stranke prav tako že prepoznajokljuËne atribute blagovne znamke, kotso inovativnost, pomoË strankam priuresniËevanju ciljev in visoko zadovoljstvos kakovostjo storitev. Rezultate raziskavuporabljamo tudi pri merjenju uspešnostinagrajevanja managerjev, ki imajo indekszadovoljstva strank kot pomemben letni ciljv svojih poslovnih ciljih.πtevilo intervjujev 2.474 800.000 1.515Vir: πtudija zadovoljstva strank v Sloveniji, november 2007 in TNS Group, 2003 - 200632 2007 Letno poroËilo · UniCredit Bank


Visoka stopnjaohranjanja strank90705030Nizka stopnjaohranjanja strankIzzivi leta 2008Tekmeci v Sloveniji- Poslovanje s prebivalstvomV letu 2007 je slovensko gospodarstvodoseglo najvišjo gospodarsko rast poosamosvojitvi. Glavna dejavnika sta bilavisoka rast izvoza in domaËe naložbe,predvsem na podroËju gradbeništva. Nastrani domaËe potrošnje je trošenje državein gospodinjstev ostalo zmerno. Ob zelopozitivnih ››terms of trade« je tudi finanËnoposredništvo zabeležilo visoke rasti, kar šeposebej velja za razliËne kreditne aranžmajecelotnega nebanËnega sektorja. Z drugimibesedami, finanËna kriza, s katero se sooËasvet od druge polovice preteklega leta, naslovensko ekonomijo še ni imela bistvenegavpliva, razen tega, da se je cena za finanËnoposredništvo zaËela dvigovati in je otežendostop do tujih banËnih virov.Ob takem rezultatu preteklega leta, ki jebil zelo pozitiven tudi za celotno EMU, pomnenju OECD in drugih priznanih analitikovv letu 2008 lahko priËakujemo vplivfinanËne krize, ki se bo v prvi vrsti odrazilna znižanju gospodarske rasti, hkrati pa botudi inflacija ostala na visoki ravni, bistvenoUniCredit Banka Slovenija d.d.- Poslovanje s prebivalstvoπtevilo intervjujev 400 407Vir: πtudija zadovoljstva strank v Sloveniji, november 200771 71višji kot je cenovni cilj ECB. Take zunanjerazmere bodo vplivale tudi na slovenskogospodarstvo, tako z vidika zmanjševanjatujega povpraševanja in poslediËnozmernejše investicijske rasti, kar bo prineslotudi zmernejšo rast slovenskega BDP. Kljubtem dejstvom ostajajo naša priËakovanjaoptimistiËna, kar pomeni, da se bodopozitivne smernice na podroËju finanËnegaposredništva nadaljevale - ne sicer nalanskoletni ravni, temveË z zmanjšanimtempom predvsem na podroËju kreditneaktivnosti tako pri podjetjih kot prebivalstvu.Slovenski trg bo v prihodnjem letu dodatnospecifiËen tudi z vidika višje inflacije vprimerjavi z evropsko, kar hkrati pomeni,da bo realna obrestna mera nižja kot vdrugih državah evropske monetarne unije,zato lahko priËakujemo tudi veËje trošenje,predvsem prebivalstva. »eprav Slovenijav zadnjem Ëasu veË kot trikrat presegapovpreËno rast kreditov v EMU, se zaradirazmeroma nizke osnove le postopomapribližuje obsegu zadolženosti nebanËnegasektorja v EMU. Ob lanskoletnih trendihkreditnega poslovanja ta razkorak še vednopredstavlja 2/5 v korist Slovenije. Iz tegazornega kota želimo predvsem poudariti, dabo kljub uvajanju novih baselskih standardovkreditno poslovanje narekovalo aktivnostibanke. Predvidevamo, da se bodo potrebestrank spremenile. Namesto obiËajnihposojil bodo partnerji zahtevali strukturiranein posebej prilagojene rešitve, ki bodovkljuËevale vse oblike financiranja, hkratiz angažiranjem širšega kroga finanËnihstrokovnjakov. V okviru poslovanja s podjetjisi bo banka v še veËji meri prizadevalaokrepiti svojo prisotnost pri malih in srednjihpodjetjih, ki tvorijo levji delež struktureslovenskih ekonomskih subjektov.Da bi se UniCredit Banka Slovenija d.d. šebolj približala tako malim podjetjem kotposameznikom, je odloËena, da dodatnorazširi svojo poslovno mrežo na nova lokalnaobmoËja, tako da bi se v naslednjih trehletih podvojila. Banka se zaveda, da hitra rastbruto družbenega proizvoda tudi prebivalstvuomogoËa razpolaganje z veËjimi finanËnimiviri, ki tvorijo osnovo za novo dodatnozadolževanje gospodinjstev, hkrati pa tudiza razliËne vrste naložb tako v zavarovalniškikot širši finanËni sektor. Pri teh prizadevanjihbo banka v Ëim veËji meri sodelovala scelotno finanËno skupino UniCredit Group inznotraj nje s skupino Pioneer Investments,lizing družbo, zavarovalnico, hkrati pa botudi sama pridobila licenco za upravljanje spremoženjem.Že lani se je pokazalo, da so strukturiraninaložbeni produkti zanimivi tako za podjetjakot prebivalstvo, zato bo banka s tovrstnimiaktivnostmi nadaljevala tudi v letu 2008,upoštevaje pri tem aktualna tržna gibanjadoma in v tujini.RastoËe financiranje prometa znepremiËninami v obliki hipotekarnihkreditov daje dobro osnovo za izdajohipotekarne obveznice, skladno z veljavnozakonodajo. Po drugi strani je znano, dapomembni domaËi institucionalni investitorjivlagajo svoje finanËno premoženje v tujeUniCredit Bank · 2007 Letno poroËilo33


Poslovno poroËiloPoslovanje bankena razliËnih segmentihtovrstne papirje, zato je banka zainteresirana,da v letu 2008 izda prvo tako obveznico,s tem popestri naložbene možnostina domaËem trgu in si hkrati zagotovipomembne dolgoroËne finanËne vire.Volatilne razmere na domaËem in tujemdenarnem in kapitalskem trgu bodo bankiv dodaten izziv, da z razliËnimi izvedenimiinstrumenti (derivativi) ponudi svojimpartnerjem možnost zmanjševanja obrestnih,teËajnih in cenovnih tveganj. Naš cilj je, dabanka v tem segmentu na slovenskem trguohrani dominantno vlogo in jo ob sinergijis celotno finanËno skupino UniCredit Groupše okrepi.Zaradi veËjih inflacijskih pritiskov odpriËakovanih bodo prav realne kategorijev segmentu vseh vrst stroškov še boljizpostavljene, kar pomeni, da bo moralabanka tej skrbi nameniti dodatno pozornostin kljub omenjenim pritiskom nadaljevatis trendom njihovega zmanjševanja, kerob organski rasti poslovanja le tako lahkodoseže ciljno dobiËkonosnost.PrepriËani smo, da ima za doseganje tegacilja vse objektivne predpogoje, predvsem pavisoko usposobljene sodelavce, ki pri svojemstrokovnem delovanju spoštujejo etiËnenorme, ki so temelj odgovornega razvoja,krepitve zaupanja in dodatno zagotovilo zakakovost storitev. To zavedanje bo skladnos sprejetimi akti podlaga za omogoËanjenajboljšim znotraj banke kot tudi v okvirufinanËne skupine UniCredit Group, darealizirajo tudi lastne naËrte, povezane zdodatnim strokovnim izpopolnjevanjem,doseganjem boljših finanËnih rezultatov terda zasedejo tudi primerne pozicije znotrajcelotne finanËne Skupine.Evro je na slovenski trg prinesel dodatnotržno svobodo, poveËal konkurenco in tudinašo skupno odgovornost. Vsega tega sezavedamo, zaradi Ëesar bodo potrebni našidodatni napori, za katere se vsem že v naprejzahvaljujemo, kajti prepriËani smo, da bomoz njimi dosegli vse zastavljene cilje in utrdilidobro ime banke.Skladno s strateškimi usmeritvami, ki smojih sprejeli lani za obdobje treh let, sezavedamo, da sama rast poslovanja brezustrezne dobiËkonosnosti ni temelj zdravegain uspešnega poslovanja, zato bomoosredotoËeni na vse tri temeljne kazalcenaše uspešnosti: donos na kapital, razmerjecelotnega dohodka in stroškov kot tudi natržni delež. Za dodatno tržno rast bo bankapotrebovala dodatni kapital, zato od lastnikapriËakuje nadaljevanje dosedanje poslovnepolitike reinvestiranja ustvarjenega dobiËkain po potrebi še dodatne naložbe v delniškikapital.IzhajajoË iz navedenih dejstev oziroma ocen,ki zadevajo celoten razvoj v letu 2008, jebanka odloËena nadaljevati z dobiËkonosnorastjo in predvsem okrepljeno aktivnostjov segmentu prebivalstva in malih podjetij.34 2007 Letno poroËilo · UniCredit Bank


Obvladovanje poslovnih tveganjFinance in tržnatveganjaDivizija Finance in tržna tveganja je znotrajUniCredit Banka Slovenija d.d. odgovornaza raËunovodstvo, kontroling, poroËanjecentralni banki, davke ter za upravljanjetržnih in operativnih tveganj. Cilj divizijeje jasno opredeljen: zagotavljati podporodeležnikom s pravoËasnimi in natanËnimiraËunovodskimi storitvami in z ustreznimporoËanjem v procesu odloËanja.V letu 2007 so bile glavne dejavnosti divizijeusmerjene na uspešen zakljuËek projektaBasel II, v katerega sta bila vkljuËenaoddelek za RaËunovodstvo in oddelekPoroËanje centralni banki. Pomemben delzmogljivosti te divizije je bil usmerjentudi na poenotenje postopkov knjiženjain smernic za vnos podatkov s standardi,ki veljajo na ravni celotne Skupine. Natej osnovi smo testirali izraËun tveganjuprilagojene aktive po standardiziranempristopu, ki je bil pripravljen centralnona Dunaju in v Münchnu. Že v marculeta 2007 smo uporabili nove obrazceCOREP za poroËanje o kapitalski zahteviza tržno tveganje. Poleg priprav na novebaselske standarde sta v letu 2007 oddelkaRaËunovodstvo in PoroËanje centralnibanki zagotavljala periodiËno natanËno inpravoËasno poroËanje lastnikom banke incentralni banki.Na podroËju upravljanja z operativnimitveganji smo zakljuËili priprave na uvedbostandardiziranega pristopa, dodatnenapore pa smo vložili v pripravo uvedbenaprednega pristopa. V letu 2007 je bilaposebna pozornost namenjena izboljšanjuosvešËenosti o operativnih tveganjih v bankiin doloËanju strategij za njihovo ublažitev.V oddeleku Tržna tveganja smo kot prvabanka v Sloveniji vpeljali neto izravnave zaizvedene finanËne instrumente pri izraËunukreditne nadomestne vrednosti. Oddelek jezadolžen za dnevno spremljanje rezultatovvseh dejavnosti zakladništva, nadzor limitovin pripravo seje Odbora za upravljanje ssredstvi in obveznostmi (ALCO - Assets andLiability Committee).Vloga Kontrolinga je zagotavljanjepravoËasnih in kakovostnih informacijza ciljno usmerjeno odloËanje navseh organizacijskih ravneh banke.Za zagotavljanje preglednega sistemanagrajevanja prodajnih divizij je oddelekza Kontroling skupaj z njimi uvedeltransparentno orodje za merjenje uspešnostiin nagrajevanje prodaje. Oddelek zaKontroling je odgovoren za vodenjecelotnega procesa poslovnega naËrtovanjater pripravo drugih poroËil za notranje inzunanje uporabnike na ravni Skupine. Pravtako je zadolžen za podajo strokovnih mnenjpri uvedbi novih produktov, marketinškihakcij, odpiranju novih poslovnih enot terdrugih strateških odloËitev banke.Oddelek za davke je uspešno zakljuËilrevizijo davka od dobiËka pravnih oseb, kijo je izvedla DavËna uprava RS. V skladu spogodbo, ki smo jo sklenili z DavËno upravoZDA, je bila izpeljana zunanja revizija uvedbepogodbe z IRS (Internal Revenue Services),ki jo je IRS nato tudi sprejel. Oddelek zadavke deluje kot notranji strokovni svetovalecza vsa vprašanja, ki se nanašajo na davke.Nenazadnje pa ima divizija Finance in tržnatveganja pomembno vlogo tudi pri uvedbiinovativnih produktov na trg. Za ugotovljeneprodukte divizija postavlja raËunovodskestandarde in standarde, povezane sporoËanjem, ocenjuje davËni vpliv ter tržnain operativna tveganja, povezana s temiprodukti. V letu 2007 smo tako s pomoËjote divizije na trg lansirali nekaj novihproduktov.Upravljanje s tveganjiUpravljanje s tveganji je v hitrospreminjajoËem in razvijajoËem se banËnemposlovanju bistvenega pomena. ObËutljivostfinanËnih trgov lahko zaradi negativnihinformacij, povezanih z morebitnimitežavami pri poslovanju posamezne finanËneustanove, zlahka povzroËi vsesplošnonezaupanje. Nekaj podobnega se jedogajalo tudi v letu 2007, ko se je zaËelaameriška kreditna kriza, ki je razburkalafinanËno javnost. Tega se v UniCredit BankaSlovenija d.d. dobro zavedamo, zato topodroËje obravnavamo zelo pozorno, takoz vsebinskega kot s kadrovskega vidika. Priupravljanju s tveganji upoštevamo stroga inkompleksna pravila Skupine ter pravila inpredpise, ki jih predpisujejo Banka Slovenijein druge nadzorne ustanove. V banki imamodolgoletne izkušnje pri nadzorovanjukreditnih tveganj, ki jih vsako letovgrajujemo v natanËno opredeljene postopkeza stalno spremljanje skupne kreditneizpostavljenosti. DoloËene postopke pa smoprilagodili tudi mednarodnim raËunovodskimstandardom in baselskim zahtevam, ki sododatno dodelali to podroËje, da bi šeizboljšali proces obravnavanja in spremljanjanaložb.V UniCredit Banka Slovenija d.d.spremljamo izpostavljenost vsakegaposameznega komitenta oz. skupinekomitentov. Sistem, ki ga uporabljamo,nam omogoËa preverjanje izpostavljenostina osnovi kriterijev izpostavljenosti naravni posameznega posla. Na podlagiinternega modela za razvršËanje komitentov- podjetij - kreditna tveganja razporejamov osemindvajset razredov. Pri presojanjukreditne sposobnosti fiziËnih oseb seosredotoËamo predvsem na glavnedejavnike, ki vplivajo na njihovo kreditnosposobnost, kot so preverjanje prilivov,plaË in drugih dejavnikov. Na podlagirazvrstitev komitentov, ob upoštevanju vseh(veË o banËnih tveganjih v finanËnem delu poroËila)UniCredit Bank · 2007 Letno poroËilo35


Poslovno poroËiloObvladovanje poslovnih tveganjdrugih razpoložljivih podatkov, o komitentihoblikujemo zahtevane in potrebne posebneslabitve za posamezna banËna tveganja naravni posamezne stranke, po potrebi pa celona ravni vsakega posla.Banka je leta 2007 oblikovala 4,3 milijonaevrov dodatnih slabitev, kar je bilo v skladuz naËrtovanim. Glede na leto 2006 se jeznesek oblikovanih slabitev sicer dejanskozmanjšal za 8,5 %, pri Ëemer je pomembnodejstvo, da je banka zaradi uvedbemednarodnih raËunovodskih standardov vletu 2006 enkratno oblikovala slabitve vvišini enega milijona evrov. »e tega uËinkane bi bilo, bi se raven slabitev poveËalaza 16,2 %, kar je skladno z rastjo portfeljabanke. Banka je v letu 2007 bistvenopoveËala znesek vrnjenih, že slabljenjihposojil (4,9 milijona evrov), kar kaže nadobro oblikovan in organiziran oddelek, ki jezadolžen za obnovo kreditov.Banka pri oblikovanju slabitev uporabljarazliËne naËine za zgodnje evidentiranjepotencialnih slabih kreditov. Tako nameseËni ravni spremljamo gibanjeocen podjetij, zamude pri poravnavanjuobveznosti strank do banke, za vsak poselposebej redno spremljamo svoje stranke vpodjetniškem segmentu z vsaj enoletnimidokumentiranimi pregledi poslovanja indogajanja. Za izraËun slabitev uporabljamometodo diskontiranih bodoËih denarnihtokov. Dodatno smo v letu 2007 prviËoblikovali slabitve za tako imenovane šeneugotovljene dogodke, in sicer v višini400 tisoË evrov, kar dodatno od 3,9 milijonaevrov individualnih rezervacij predstavljavsoto oblikovanih slabitev v letu 2007.Skladnost naËrtovanega zneska oblikovanihslabitev z dejanskim stanjem dokazujeustreznost in pravilnost metodologije, ki jouporabljamo.NatanËna, redna analiza portfelja inštevilne primerjave, ki jih izvajamo na ravniskupine UniCredit Group, potrjujejo, da imabanka visoko kakovosten in uravnoteženportfelj, ki ga ohranja kljub rasti. Tako kot vprejšnjih letih smo tudi leta 2007 ohranilistabilno in kakovostno strukturo portfeljaz veË kot 95-odstotno izpostavljenostjov najvišjem kreditnem razredu ‘A’. Da biše dodatno zmanjšali tveganja celotnegakreditnega portfelja, skrbimo za ustreznorazpršenost posojil med številne komitentein razËlenjenost na razliËne gospodarskedejavnosti. Priprava tovrstnih analiz glede nadejavnost, velikost podjetij, obliko kreditovin podobno nam omogoËa možnost hitrereakcije v primeru ugotovljenega poslabšanjakaterega izmed kazalcev.V letu 2007 smo številne aktivnosti usmeriliv izpolnjevanje baselskih zahtev, kot jepreverjanje kakovosti zavarovanja, ki ga bankasprejema v zavarovanje za naložbe. Oblikovalismo tudi že vse potrebne projektne funkcije,ki nam bodo omogoËile izvajanje predvidenihaktivnosti za izpolnjevanje kriterijev v skladu spristopom IRB.Informacijska podporaposlovanjuNa podroËju informacijske tehnologije inoptimizacije poslovnih procesov je bilo zaUniCredit Banka Slovenija d.d. leto 2007v znamenju priprav na uvedbo baselskihstandardov, implementacije zahtev evropskedirektive o trgih finanËnih instrumentov(MiFiD), uvedbe slovenskega informacijskegasistema bonitet komitentov - fiziËnih oseb- (SISBON), priprav na uvedbo enotnegaobmoËja plaËil v evrih (SEPA) in prehodavseh banËnih kartic na Ëipno tehnologijo.V skladu z baselskimi standardi smo v letu2007 nadaljevali s projektom postavitverezervnega IT-centra. Tako imamo zdaj navoljo dva med seboj povezana IT-centra, kisi izmenjujeta izvajanje posameznih opravilglede na trenutno zasedenost virov. »e encenter odpove, drugi takoj prevzame celotnoinformacijsko in komunikacijsko podporobanke. Lani smo tako zakljuËili projekt dvigazanesljivosti informacijske podpore banke,ki smo ga zaËeli jeseni 2005 s selitvijoosrednjega informacijskega sistema vcentralni IT-center skupine na Dunaju, terv letih 2006 in 2007 nadaljevali z dvigomzanesljivosti vseh satelitskih sistemov inkomunikacij.Evropska direktiva MiFiD je zahtevalaštevilne prilagoditve tako na osrednjembanËnem informacijskem sistemu kot nasatelitskih sistemih za podporo poslovanjas finanËnimi instrumenti. Da bi ustvariliboljšo osnovo za širitev ponudbe storitev pritrgovanju z vrednostnimi papirji, smo v drugipolovici leta zamenjali tudi informacijskisistem za podporo tega poslovanja z novimin sodobnejšim.V UniCredit Banka Slovenija d.d. smo seže od samega zaËetka razprav o nujnostiizmenjave podatkov o boniteti strank medslovenskimi bankami zavedali pomenavpeljave sistema SISBON, zato smo takojzaËeli z vsemi zahtevanimi pripravami vosrednjem informacijskem sistemu in jihizvedli pravoËasno.Uvedba enotnega obmoËja plaËil v evrih(SEPA) je gotovo eden najzahtevnejšihprojektov na podroËju plaËilnih sistemovv zadnjih letih. V banki smo se na taprojekt zaËeli pripravljati že v letu 2006,po zakljuËku uvedbe evra pa zaËeli znadaljnjimi intenzivnimi pripravami. Projektsmo sprožili tudi na ravni celotne finanËneskupine UniCredit Group. Zaradi usklajenegadelovanja Skupine v evropskem prostoru indoseganja stroškovne uËinkovitosti smo seodloËili, da bomo v SEPA plaËilne sistemevstopali prek osrednje vstopne toËke naDunaju ter hkrati podprli vse specifiËne36 2007 Letno poroËilo · UniCredit Bank


Indeks rasti števila uporabnikov / namestitevsistemov elektronskega banËništva350Indeks rasti kartiËnih transakcij250%214.9300305200%153.7163.0250%200%229207224150%128.0157167150%100%100.0 100.0100%100 100 10050%50%002005 200620072005 2006Maestro Cards2007Online b@nka za fiziËne osebe - uporabnikiE-bank in MultiCash za pravne osebe - namestitveMasterCard CardsVISA Cardsstoritve, ki jih omogoËajo standardi SEPA nanacionalni ravni.V letu 2007 smo zamenjali tudi vse banËnekartice in jih opremili s Ëipom v skladu zzahtevami standardov EMV, bankomate pasmo v celoti prilagodili omenjeni tehnologijiže v letu 2006. Tako je bila oktobra 2007, kose je zamenjava kartic zakljuËila, UniCreditBanka Slovenija d.d. ena redkih slovenskihbank, ki je v celoti izvršila prehod na Ëipnotehnologijo. Ob zamenjavi kartic smoupoštevali tudi zahteve, ki jih za kartiËnoposlovanje s seboj prinaša SEPA.Trend hitre rasti transakcij, opravljenihs karticami izdanih s strani banke, seje nadaljeval tudi v letu 2007, kjer smozabeležili 8-odstotno rast pri transakcijahVISA, 6-odstotno rast pri MasterCard in 33-odstotno pri Maestro transakcijah. PoveËalose je tudi število od banke izdanih kartic, insicer VISA za 18 %, MasterCard za 30 % inMaestro za 29 %.V letu 2007 smo nadaljevali s trendompoveËevanja števila transakcij tako vdomaËem (za 18 %) kot Ëezmejnem inmednarodnem plaËilnem prometu (za 15%). Delež elektronsko posredovanih plaËilnihnalogov smo poveËali na 86 % v domaËemin 84 % v Ëezmejnem in mednarodnemplaËilnem prometu.Elektronsko banËništvo je komunikacijskikanal, ki v sodobnih banËnih storitvahpostaja vse pomembnejši. V letu 2007smo uvedli vrsto manjših dopolnitev, kiso izboljšale prijaznost uporabe sistemovelektronskega banËništva, strankamomogoËile dostop do dodatnih podatkov oplaËilnih transakcijah in dvignile zanesljivostdelovanja teh sistemov. Trend poveËevanjadeleža uporabnikov sistemov elektronskegabanËništva se je nadaljeval tudi v letu 2007,saj je v primerjavi z letom prej sistemeelektronskega banËništva uporabljalo 27 %veË podjetij in 40 % veË fiziËnih oseb.Varovanje informacij ininformacijskega sistemaInformacije in sistemi informacijsketehnologije predstavljajo za banko izrednopomembno premoženje, ki ga je treba naprimeren naËin varovati ne glede na oblikoin naËin shranjevanja. Uprava UniCreditBanka Slovenija d.d. je potrdila krovnovarnostno politiko, ki utemeljuje konkretnepolitike in navodila varovanja po posameznihpodroËjih dela (politika fiziËnega dostopa,politika Ëiste mize in praznega ekrana,politika gesel, politika elektronske pošte ininterneta) in je podlaga za varno poslovanje.Osnovna naloga varovanja informacijin informacijskega sistema banke jezagotavljanje zaupnosti (samo pooblašËeneosebe imajo dostop do podatkov ininformacij), neoporeËnosti (podatki so toËni)in optimalne razpoložljivosti (dostop dopodatkov, ko jih uporabniki potrebujejo).Vse to je namreË izjemno pomembnoza uspešno poslovanje banke, zaupanjekomitentov in ugled banke. Varnostnekontrole temeljijo na varnostnem standarduskupine UniCredit Group in Kodeksuvarovanja informacij ISO 17799.Dostop do strojne in programske opremeimajo samo pooblašËeni uporabnikipo ustaljenem postopku in na podlagidodeljenih pravic z enoliËnim uporabniškimUniCredit Bank · 2007 Letno poroËilo37


Poslovno poroËiloObvladovanje poslovnih tveganjIndeks rasti števila transakcijv domaËem in tujem plaËilnem prometu160%153.37140%120%126.25114.79136.70100%100.00100.0080%60%40%20%02005 20062007DomaËi plaËilni prometTuji plaËilni prometimenom in geslom. Sistem varovanja inzašËite zajema papirne dokumente, podatkev elektronski obliki in komunikacije ter vsostrojno in programsko opremo.Splošen, sistemski in ostali nadzorvkljuËujejo tako fiziËen in/ali logiËennadzor. FiziËen nadzor vkljuËuje fiziËnovarovanje objekta, video nadzor na vsehkljuËnih mestih, vstop v poslovne prostorez brezkontaktnimi pristopnimi karticamiin varovanje z alarmi. LogiËen nadzor paizvajamo na ravni aplikativne programskeopreme. S politiko gesel doloËamo pravilaza varna in moËna gesla.V banki imamo rezervni IT-center, kizagotavlja visoko razpoložljivost vsehkritiËnih podatkov in strežnikov. Strežnikina rezervni lokaciji so bodisi fiziËnopodvojeni ali pa virtualizirani. Dostop doposlovnih enot in zunanjih institucij jeizveden s podvojenimi povezavami. Tudidostop do javnega omrežja je izveden spodvojenimi hitrimi povezavami do razliËnihinternetnih ponudnikov. Podvojeni požarnipregradi (na primarni in rezervni lokacij)omogoËata veË varovanih podroËij, zunanji innotranji segment pa sta dodatno varovana zusmerjevalniki. Dodatno za zašËito podatkovskrbimo tako, da redno (dnevno, tedensko,meseËno) izdelujemo varnostne kopijepodatkov in sistemov na kasetah, ki jihhranimo na posebni lokaciji.V okviru projekta Upravljanje neprekinjenegaposlovanja smo za poslovno kritiËne funkcijena osnovi analize tveganj in analize vplivovna poslovanje izdelali naËrte neprekinjenegaposlovanja (alternativni postopki in odzivv stiski) in okrevanja po nesreËi (okrevalnipostopki).S politiko razvoja programske opremeopredeljujemo naËin naroËanja programskeopreme (nove zahteve ali spremembe),testiranje v testnem okolju in prevzem vprodukcijo.Zavedamo se, da se tehnologija spreminja innapreduje, zato redno spremljamo dogajanjena tem podroËju tako doma kot tudi v tujini,saj skupina UniCredit Group varnosti posveËaveliko pozornosti.38 2007 Letno poroËilo · UniCredit Bank


Družbena odgovornostV UniCredit Banka Slovenija d.d. sezavedamo, da mora soËasnemu poveËanjudobiËka slediti tudi odgovorno ravnanje doekonomskega, socialnega in družbenegaokolja. Nenazadnje sta poslovanje indolgoroËen obstoj podjetij danes odvisnaod razliËnih interesnih skupin, zato so pritem kljuËni razvoj znanja, inovacij in širšedružbene odgovornosti.Skupina UniCredit Group ima v veljaviskupne vrednote, zapisane v Listini ovrednotah, ki predstavljajo podlago zautrditev korporativne družbene odgovornostiin upravljanje dolgoroËnih odnosov.Cilj skupine UniCredit Group je do leta2010 postati vodilna finanËna institucijana podroËju korporativne družbeneodgovornosti. Projekt je za skupinoUniCredit Group velikega pomena, saj je zabanko kljuËno, da si v javnosti (tako lokalnokot na ravni Skupine) ustvarja zaupanje, gas svojimi dejanji utrjuje in tudi komunicirajavnosti.Osnovna naloga korporativnegakomuniciranja banke, ki temelji nadvosmerni komunikaciji in podpirauresniËevanje zastavljene strategije, vizijein ciljev banke, je vzdrževanje dobrihodnosov z njenimi javnostmi, med katereštejemo zaposlene, stranke, dobavitelje,vlagatelje in lokalne skupnosti, v katerihdelujemo. Ustvarjanje dodane vrednostiin družbeno odgovorno delovanje sta tudina podroËju korporativnega komuniciranjanajpomembnejša cilja aktivnosti na vsehpodroËjih. Preglednost, strokovnost,spoštovanje in zaupanje pa so tiste vrednote,ki jim pri svojem družbeno odgovornemdelovanju še posebej vestno sledimo.Odnos do zaposlenihV UniCredit Banka Slovenija d.d. sezavedamo, da so zaposleni vir moËi,energije in znanja, ki prispevajo k doseganjudolgoroËnih ciljev banke ter zadovoljstvustrank in sodelavcev, zato veliko pozornostposveËamo njihovemu razvoju. Zaposleniso tudi prvi glasnik dogajanja v podjetju,zato so odnosi z njimi skrbno naËrtovaniin merjeni. Velik pomen pripisujemo tudikomunikaciji z zaposlenimi in jih obvešËamoo kljuËnih aktivnostih in usmeritvah banke.Komuniciranje z zaposlenimiOsrednja interna komunikacija v letu 2007je bila povezana s pomembnim dogodkomv zgodovini banke, ko se je banka s svojimilastniki poistovetila tudi z imenom. ZaËelase je spomladi z izdajo internih novic natemo preimenovanja in pismom uprave. Vavgustu je banka na Krvavcu organiziraladruženje vseh zaposlenih in jih v družabnemvzdušju seznanila z novo celostno podobobanke, Ëlani uprave pa so predstavilipomen novega imena in celotne banËneskupine. Premierno je bil predstavljentudi korporativni oglasni spot. Odzivzaposlenih na dogodek je bil zelo pozitivenin je nedvomno veliko prispeval k uspešniizpeljavi tako pomembnega in zahtevnegaprojekta, kot je preimenovanje banke.Zaposlene smo med letom redno obvešËalio projektih, ki so potekali v banki, pri Ëemersmo uporabili razliËna komunikacijskaorodja, kot so pisma uprave, internenovice, osebna pisma, e-pošta ter osebne460440420400380360340320336.10 337.10Rast števila zaposlenih392.10predstavitve in sreËanja. Ob uspešnozakljuËenih projektih, ki so zahtevali tudiveliko osebnega prizadevanja zaposlenih, sobili kljuËni zaposleni deležni osebne zahvales strani vodstva banke. S tem smo poudarilinjihovo vlogo pri projektih, nagradili njihovapresežena prizadevanja in prispevali kmotiviranosti za uspešno nadaljnje delo.Rast števila zaposlenihin zaposlovanjeUniCredit Banka Slovenija d.d. je nazaËetku leta 2007 zaposlovala 419, konecleta pa 450 zaposlenih, pri Ëemer številkavkljuËuje v povpreËju 33 študentov in najetihdelavcev. Prirast zaposlenih v zadnjem letuje torej 7,0 % oziroma 31 novih sodelavk insodelavcev, katerih povpreËna starost je bila29 let. PovpreËna starost zaposlenih je 36,5let, banka zaposluje 62 % žensk in 38 %moških - razmerje glede na leto 2006 ostajaenako.Cilji in strategija banke na podroËjuzaposlovanja v letu 2008 so privabljanjeustreznega kadra za zaposlitev v novihposlovnih enotah, usposabljanjemanagementa za opravljanje svoje vlogev banki, da bi Ëim bolj uspešno dosegalistrateške poslovne cilje in upravljali razvojmladih, potencialnih talentiranih kadrov.Postati želimo dolgoroËni partner zaposlenihna podroËju banËništva in finanËnih419.00450.10 452.101.1 2004 1.1 2005 1.1 2006 1.1 2007 31.12 2007 1.1 2008UniCredit Bank · 2007 Letno poroËilo39


Poslovno poroËiloDružbena odgovornostinstitucij, saj lahko le tako dosežemo ciljeposameznikov in banke. Obenem želimo bititudi v prihodnje prva izbira kandidatov.Izobrazbena strukturaV UniCredit Banka Slovenija d.d. velikopozornost posveËamo znanju in izobrazbi,kar potrjuje podatek, da je v banki 4,0 %zaposlenih z doktoratom oz. magisterijem(zvišanje za eno odstotno toËko), 46,0 %zaposlenih z višjo, visoko strokovno oz.univerzitetno izobrazbo (povišanje za 2,0 %),50,0 % zaposlenih pa ima srednjo izobrazbo(znižanje za 3,0 %). Trend kaže na zviševanjeizobrazbene strukture, saj se je na raËunvišje, visoke strokovne oz. univerzitetneizobrazbe stopnja dvignila za 3,0 odstotnetoËke.Usposabljanje in izobraževanjeZ ustreznim znanjem o produktih, storitvah,poznavanjem strank in kakovostjostoritev za stranke je banka skozi letapridobivala na vrednosti. V letu 2007smo za izobraževanje namenili 0,2 %sredstev od skupnih prihodkov. Izvedlismo 17.888 ur izobraževanja (17-odstotnarast), v povpreËju pa se je vsak zaposleniizobraževal 42 pedagoških ur (5-odstotnarast).Vsebine, ki so jih pokrivala izobraževanja,so bile s podroËja banËne stroke, prodajnihtehnik, tehnik vodenja ter izboljševanjaraËunalniških znanj. Ker raËunalniškihteËajev v letu 2006 zaradi aktivnosti,povezanih z uvedbo evra, nismo organizirali,se je teËajev Excela in Accessa v letu 2007udeležilo kar 26 % vseh zaposlenih.Delež internih izobraževanj je znašal24 %, pokrivala pa so produktna in procesnaizobraževanja (skupaj približno 61 % vsehinternih izobraževanj), uvajalni seminarza novozaposlene ››Dobrodošli mednajboljšimi« (skupaj 25 % vseh internihizobraževanj), osnove projektnega vodenja(skupaj 8 % vseh internih izobraževanj), naËrtneprekinjenega poslovanja (skupaj 6 % vsehinternih izobraževanj).V skupni kvoti izobraževalnih ur smo 9 % vsehur namenili izobraževanjem in usposabljanjemza uporabo vodstvenih vešËin in sposobnosti,21 % za izobraževanje s podroËja tujihjezikov ter 70 % vseh ur za strokovnafunkcionalna izobraževanja s podroËjabanËništva, financ, informatike, organizacije.Razvoj in nagrajevanjeStrategijo banke je uprava predstavila vodjemin zaposlenim na enodnevnem dogodku, kjerje lahko vsak zaposleni prepoznal svojo vlogopri doseganju zastavljenih ciljev, na podlagikaterih je opredelil cilje za svoj oddelekoziroma divizijo.V letu 2007 smo nadaljevali kadrovskiprojekt Ciljno vodenje in s tem povezanonagrajevanje zaposlenih, ki so ga zaposleniletos izvajali že tretjiË. Pri tem en del zajemavodenje na podlagi opredelitve ciljev, ki jih vzaËetku leta postavi vsak zaposleni na osnovidvosmernega pogovora. Drugi, predvsem zrazvojnega vidika pomemben del, pa je letnirazvojni pogovor, ki je namenjen razvojukariere posameznika. Oba dela sta kljuËniorodji vodenja v banki. Rezultat vodenja spomoËjo ciljev je tako veËja seznanjenosts cilji in strategijo banke ter posameznimiorganizacijskimi enotami in s tem veËjezadovoljstvo. Hkrati je sistem nagrajevanjavezan na doseganje ciljev posameznika.Letni razvojni pogovor je kot orodje vpeljanona vseh organizacijskih ravneh in gaopredeljujemo kot konkurenËno prednost,saj je osnova za tak pogovor ocena vedenjoz. kompetenc po metodi 270º. Zaposleniso sistem osvojili in ga med implementacijopredvsem zaradi koristne dodane vrednostiprivzeli kot orodje, ki podpira in razvijakomunikacijo nadrejenih s podrejenimi.Glede na izkušnje pri uporabi sistema smov letu 2007 naredili tudi korak naprej insprejeli prenovljen in dopolnjen sistemnagrajevanja prodajnih divizij, tako divizijeProdajna mreža kot divizije Poslovanje spodjetji, ki še bolj natanËno in preglednoopredeljuje priËakovanja na posameznihdelovnih mestih v prodaji.Sistemizacija in interna kolektivna pogodba,ki smo ju v letu 2007 na novo sprejeli, stapripomogli k preglednejši organizaciji dela vbanki in ureditvi drugih pravic in dolžnosti izdelovnega razmerja.Skrb za vrednoteV letu 2007 smo na podlagi rezultatov prveraziskave o zadovoljstvu, ki je potekalana ravni skupine UniCredit Group, izvedlinekaj kljuËnih aktivnosti, in sicer spodroËja vodenja, izobraževanja ter sistemanagrajevanja, kjer so se pokazale dodatnemožnosti za izboljšave. Analiza je meddrugim pokazala dobro pripadnost banki inponos zaposlenih, da so del tako zrelega inodgovornega okolja.Rezultati raziskave so služili tudi formiranjuinteresnih skupin, povezanih s prodajoproduktov in vodenjem, za katere smopripravili Prodajno akademijo in Akademijovodenja. Na podroËju izobraževanja smo sebolj posvetili zagotavljanju izobraževalnihvsebin, ki prinašajo direktno uporabnaznanja. V okviru sistema nagrajevanja pasmo, kot že omenjeno, sprejeli dopolnjenapravila nagrajevanja prodajnih profilov.Prvega oktobra smo organizirali Dan vrednot(enakopravnost, zaupanje, spoštovanje,preglednost, svoboda delovanja,vzajemnost), ki predstavljajo temelj našegadelovanja in krepijo našo prepoznavnost natrgu finanËnega posredništva. V tem dnevuso se zaposleni razliËnih organizacijskih enotmed seboj na krajših sreËanjih pogovarjalio vrednotah in njihovi vrednosti v delovnem40 2007 Letno poroËilo · UniCredit Bank


okolju in pri delovnih nalogah. SreËanja sopokazala, da smo naredili velik napredek privrednoti preglednost, saj se je v primerjaviz letom 2006 ta vrednota kot priložnost zaizboljšanje znašla na predzadnjem mestu.V letu 2007 je tudi UniCredit BankaSlovenija d.d. imenovala ombudsmana, sajje bil sistem na ravni Skupine vzpostavljenže septembra 2006. Institut ombudsmanaomogoËa neodvisno možnost vlaganjamorebitnih pritožb zaradi kršitev Listineo vrednotah, ki jih povzroËijo dejanjaali obnašanja med zaposlenimi ali medzaposlenimi in banko. Skupina UniCreditGroup uvaja institucijo ombudsmana vvseh državah, kjer je prisotna. S tem želimopospešiti reševanje medosebnih konfliktov intežav, spodbujati sodelovanje na delovnemmestu ter ustvarjati sinergije v delovanjumed Ëlanicami Skupine.Sistem ohranjanja praviËnega odnosaprinaša nov naËin obravnavanja posledic,ki morajo spremljati vsako nedovoljenoravnanje. Temelji na kulturi izbora mediacijekot obliki obravnave nedopustnih ravnanjin kot zagotovilo za spoštovanje sistemavrednot, ki ga doloËa Listina o vrednotah.Sistem ponuja priložnost za izboljšanjeoz. ponovno vzpostavitev komunikacijeali predlaga nove naËine medsebojnegaravnanja, olajša odpravo negativnihposledic, ki so povezane s kršitvami Listineo vrednotah, ter vodi do sporazuma gledeprihodnjega ravnanja oz. obnašanja.Delovanje ombudsmanov se nanašana podroËja, kot so diskriminacija nadelovnem mestu, diskriminacija na podlagisubjektivnih kriterijev, namensko zadrževanjeinformacij, mobbing, spolno nadlegovanje,zasledovanje, zalezovanje in podobno.Ombudsmani so organizirani tako, dadelujejo neodvisno in poroËajo upraviali drugemu izvršnemu telesu. Vsakombudsman v bankah, Ëlanicah skupineUniCredit Group, je neposredno odgovorenombudsmanu skupine UniCredit Group inzato neodvisen od lokalnih služb za ravnanjes Ëloveškimi viri in lokalnega managementa.Skrb za zaposleneZa zaposlene, njihovo zdravje in dobropoËutje organiziramo športne dogodke,sofinanciramo kulturne prireditve in športneaktivnosti, novoletno druženje, obdarovanjaza otroke zaposlenih, športne dneve zazaposlene, poletni piknik in drugo.NaËrtno spremljanje zdravstvenega stanja jenaša obveza in zaveza, ki hkrati izraža našoskrb za sodelavce. V preteklem letu smo takoopravili 72 predhodnih zdravniških pregledov,konec leta pa smo že tradicionalno poskrbeliza možnost cepljenja proti gripi, ki se ga vpovpreËju udeleži 20 % zaposlenih. Zmanjšalismo tudi odstotek odsotnosti zaradi bolezni,in sicer za 5 %, kar pomeni, da se je številoefektivnih ur poveËalo za 13 %.Ob mladi populaciji smo v letu 2007 obËutilitudi porast števila prebivalstva, saj je bilov banki obËutno poveËanje števila porodnic,in sicer za 60 %.V okviru skrbi za tretje življenjsko obdobjezagotavljamo tudi možnost vkljuËitve vdodatno pokojninsko zavarovanje, ki jokoristi dobrih 75 % zaposlenih, kar je gledena starostno strukturo in seznanjenost zdemografsko situacijo v povezavis pokojninskimi zgledi razumljivo.Vsa omenjena skrb se odraža tudi vuspešnem ohranjanju stopnje fluktuacijena sprejemljivi ravni glede na demografskerazmere in razmere na trgu dela, saj se jestopnja sicer zvišala, vendar s 5,31 % v letu2006 na 6,04 % v letu 2007.Odnos do strankV lanskem letu smo uresniËili ambiciozno inzelo jasno zaËrtano marketinško strategijo.V prvi polovici leta smo uspešno izvedlištevilne celovite tržno-komunikacijskeakcije. Izbranim ciljnim segmentom smoprek oglaševalskih akcij in direktne poštepredstavili ponudbo stanovanjskih kreditovin dva strukturirana kratkoroËna depozita,ki sta bila novost na slovenskem banËnemtrgu.Druga polovica leta 2007 je potekala vznamenju preimenovanja banke in uvajanjanove blagovne znamke na slovenski trg.Blagovno znamko UniCredit Bank, za kateroje znaËilna izrazita usmerjenost v aktivnegaposameznika, ki mu želijo pomagati priuresniËevanju njegovih želja, ambicijin ciljev, smo zelo uspešno predstavilisvojim strankam s pomoËjo korporativneoglaševalske akcije.Akcijo so odlikovali jasna in konsistentnakomunikacija v razliËnih medijih,televizijski spot, ki je predstavljal osrednjekomunikacijsko orodje, ter dober pozicijskislogan. S Ëustvenim in grafiËno uËinkovitimTV-oglasom, za katerega je znaËilnatudi moËno prepoznavna glasba, smoponazorili življenjski cikel, v katerem lahkoposameznik uresniËi svoje naËrte, želje insanje. Pozicijski slogan ››Izberite svoj jutri.«postavlja posameznika v aktivno vlogo ter gatako spodbuja, da si zaËrta svojo prihodnostin aktivno stopa po poti njene uresniËitve.Kot je pokazala raziskava, smo z uËinkovitooglaševalsko akcijo dosegli želenozavedanje in pozicioniranje nove blagovneznamke UniCredit Bank ter celo preseglizadovoljstvo strank konkurenËnih bank vSloveniji, ki znaša v povpreËju 70 toËk.Z rezultatom 99 toËk se uvršËamo mednajboljših pet odstotkov bank v Evropi.V okviru preimenovanja banke smopromocijski in prodajni material (brošure,plakati, letaki, produktna embalaža, obrazci,pogodbe) vsebinsko nadgradili in posodobiliUniCredit Bank · 2007 Letno poroËilo41


Poslovno poroËiloDružbena odgovornostter ga oblikovali v skladu z novimioblikovnimi smernicami finanËne skupineUniCredit Group. Novo obliko in vsebino jedobila tudi spletna stran www.unicreditbank.si, ki se še naprej nadgrajuje na podlaginovih smernic pri oblikovanju in uporabiinternetnih strani, uspešnost dela na tempodroËju pa redno spremljamo z analizamiuporabniške izkušnje.Za poslovne partnerje divizij Poslovanje spodjetji in Zakladništvo smo organiziralištevilne dogodke za stranke. Informativnidogodki, kot so bili FinanËni dnevi BankAustria Creditanstalt, Zajtrk zakladništvain drugi dogodki, so bili namenjenipredvsem predstavitvi financiranja izvoznihposlov, upravljanja z denarnimi sredstvi,izvedenih finanËnih instrumentov za zašËitopred teËajnimi in obrestnimi tveganji terpredstavitvi izdaje obveznic Droge Kolinske,na tradicionalnem Europa Forumu pa smorazgrnili aktualno tematiko ËezmejnihfinanËnih rešitev za mednarodna podjetja.Ciljnim segmentom, ki jih sestavljajo takonove kot tudi obstojeËe stranke, smo sepribližali prek razliËnih komunikacijskihkanalov in jim predstavili inovativne innjihovim potrebam prilagojene banËneprodukte. Z omenjenim sodobnim tržnimkomuniciranjem smo dokazali, da smoprodorna in k potrošniku usmerjena banka.Odnosi z medijiV komunikaciji z mediji smo proaktivniin odzivni, saj se zavedamo, da somediji pomemben dejavnik pri izgradnjiprepoznavnosti in ugleda banke. Da bipoveËali kakovost medijskega pojavljanjazaposlenih in s tem tudi banke kot celote,smo v letu 2007 izvedli medijsko delavnicoza vodje in druge medijsko izpostavljenezaposlene, fotografsko delavnico in stilskodelavnico. Z njimi smo zaposlenim šebolj približali pomen odzivnosti, jasnosti inkredibilnosti v sodelovanju z mediji za uspehin ugled banke.Na tiskovni konferenci v marcu leta 2007smo medijem predstavili poslovne rezultate,ki smo jih dosegli v letu 2006 in so nasuvrstili na 4. mesto po bilanËni vsoti bankv Sloveniji. Ob lansiranju novega produktana slovenskem trgu - kratkoroËnegastrukturiranega depozita - smo predstavnikemedijev povabili na zajtrk, na katerem smojim bili zaposleni v banki v manj formalnemvzdušju na voljo za bolj podrobna pojasnila onovem produktu. Mediji so se na predstavitevodzvali v velikem številu in objavili številneprispevke. Temu je sledil tudi dober odzivjavnosti, vlagateljev, ki so se odloËili,da bodo svoja sredstva zaupali banki vplemenitenje. Septembra smo na tiskovnikonferenci, ki smo jo izvedli pred poslovnoenoto na Wolfovi ulici v središËu Ljubljane,naznanili zaËetek poslovanja banke pod novimimenom. Na prizorišËu, ki je bilo prežeto zelementi nove korporativne podobe, smogostili nekaj veË kot 20 slovenskih novinarjev.Predsednik uprave, dr. France Arhar, pa jeob tej priložnosti tudi slavnostno odkril novnapis ››UniCredit Bank« nad poslovno enotona Wolfovi v središËu Ljubljane.Medijem smo v obliki sporoËil za javnostvse leto posredovali številne informacijeo dogajanju v banki in finanËni skupiniUniCredit Group ter analize ekonomskegaokolja. Oblikovali in nadgradili smo medijskosredišËe v okviru nove spletne stranibanke. Pripravili smo številne odgovore nanovinarska vprašanja (v letu 2006 smo prejeli456 sklopov novinarskih vprašanj, v letu2007 pa se je njihovo število povzpelo na480). Z dejavnim in odprtim pristopom donovinarjev smo svojo medijsko prisotnost vletu 2007 poveËali kljub temu, da je konecleta 2006 zaznamovala uvedba evra inposlediËno tudi porast števila objav, v katerihsmo se pojavili. Tik pred božiËem smo zapredstavnike medijev organizirali poslovnizajtrk, pripravljen izkljuËno zanje.Število objav o Bank AustriaCreditanstalt d.d. Ljubljana oz. UniCreditBanka Slovenija d.d. v preteklih letihmesec 2005 2006 2007januar 108 76 179februar 75 136 114marec 127 141 126april 95 92 101maj 132 104 128junij 125 133 157julij 80 85 83avgust 101 163 81september 189 127 116oktober 141 111 122november 137 144 125december 73 115 122Skupaj 1383 1427 1454Odnos do dobaviteljevUniCredit Banka Slovenija d.d. si je vdosedanjih letih ustvarila prepoznavno imeuspešne in inovativne banke, h kateremuso velik del prispevali tudi dobavitelji.Konec leta 2007 smo organizirali sreËanje zdobavitelji, s Ëimer smo se želeli pomaknitiod tradicionalnih odnosov do partnerskegaodnosa, ki ga vodita medsebojno zaupanjein dolgoroËno poslovno sodelovanje. Nanjem smo izpostavili medsebojno pomoË prirazvoju in doseganju višje ravni zadovoljstvastrank. Dobaviteljem smo se na sreËanjuzahvalili za uspešno sodelovanje v letu 2007in jim predstavili prihodnje najpomembnejšeprojekte. Izpostavili smo dejstvo, da se željein priËakovanja strank vsako leto zvišujejo,42 2007 Letno poroËilo · UniCredit Bank


kar vodi v hud konkurenËni boj, v kateremso lahko uspešni le tisti, ki se zavedajo,da stopnja strateškega partnerstva meddobavitelji in podjetjem pomeni najvišjoobliko sodelovanja in zaupanja. Dobaviteljiso ogledalo podjetja, zato si prizadevamo,da odnos med dobavitelji in banko spremljalojalnost, odprtost in obojestranskozadovoljstvo.Odnos do lokalnihskupnostiV letu 2007 je zaživela tudi lokalnamarketinška iniciativa. Poslovne enoteUniCredit Banka Slovenija d.d. so na podlagipoznavanja lokalnega okolja v okviru lastnepobude samostojno komunicirale z lokalnimtrgom prek razliËnih komunikacijskihkanalov. Poleg naËrtovanih objav v lokalnihmedijih so poslovne enote izvajale lokalneoglaševalske akcije, dogodke, direktnimarketing, z donatorskimi sredstvi pomagalelokalnim organizacijam oz. posameznikom,sponzorsko in donatorsko sodelovale naštevilnih športnih, dobrodelnih in kulturnihprireditvah, ki so se odvijale v njihovi okolici(tradicionalno Kurentovanje na Ptuju, NoË najezeru, Musica Panonia, prireditev ››Ostanimoprijatelji, Vranski poletni veËeri). Predstavilismo se na Ljubljanskem pohištvenemsejmu, na Mednarodnem obrtnem sejmu vCelju, 10. Dnevih kakovosti in inovativnosti,s sredstvi pomagali OŠ Ivan Cankar inpodobno. Z direktno pošto in drugimiaktivnostmi smo prispevali k intenzivnostikomuniciranja akcij in ponudbe banke.Sponzorstva in donacijeUstvarjanje trajne vrednosti je predpogoj zadolgoroËno uspešno delovanje podjetij, zatosvojemu okolju del pridobljenih sredstevvrnemo v obliki sponzorstev in donacij tudi nadržavni ravni. S sponzorskimi in donatorskimisredstvi smo tako v letu 2007 sledilizaËrtanim smernicam predvsem na podroËjukulture, pomoËi socialno ogroženim inotrokom. Prizadevanje za družbeno odgovornoravnanje je obrodilo sadove v prispevkihprojektom, kot so RdeËi noski, dobrodelnibazar društva SILA, Projekt Ëlovek, Tihi angeli,društvom Humana in drugim. Tradicionalnosmo darovali Slovenski filharmoniji zanakup novih glasbil, tokrat francoskegaroga, podprli festival uliËnih gledališË AnaDesetnica, Festival pomladi in nekateredruge. Ob prehodu v novo koledarskoleto smo darovali sredstva petim lokalnimporodnišnicam in tako povezali namendonacije s tematiko novega rojstva, ki smo jouporabili tudi v korporativnem komuniciranjuob preimenovanju banke.K uspešnemu delovanju na lokalni ravni sonedvomno pripomogla tudi izobraževanja okomuniciranju z mediji in pomoË strokovnihslužb, ki so postavile smernice za delovanje,jim pri tem pomagale ter skrbele za enotnopojavljanje korporativne podobe tudi nalokalni ravni.UniCredit Bank · 2007 Letno poroËilo43


PoroËilo nadzornega svetaPoroËilo nadzornega svetaLeto 2007 je bilo za banko leto sprememb, ki so se najmoËnejeodrazile v spremembi njenega imena in s prilagoditvijo teruskladitvijo starih in sprejemom novih aktov banke, ki sopomenili uskladitev z veljavno zakonodajo in prilagoditvijoupravljavski shemi skupine UniCredit Group. Banka se jeiz Bank Austria Creditanstalt d.d. Ljubljana preimenovala vUniCredit Banka Slovenija d.d.Do sprememb je v lanskem letu prišlo tudi v sestavinadzornega sveta banke. Na skupšËini banke dne 24. 4. 2007je bil razrešen nadzorni svet, ki so ga sestavljali mag. HelmutBernkopf (predsednik), dr. Erhard Gehberger, Herbert Hangel(namestnik predsednika), mag. Martin Klauzer in mag. FriedrichRacher. Hkrati so bili imenovani Ëlani novega nadzornegasveta v sestavi Federico Ghizzoni, mag. Wolfgang Edelmüller,mag. Helmut Haller, Herbert Hangel in mag. Martin Klauzer.Nov nadzorni svet je dne 25. 4. 2007 za novega predsednikaimenoval Federica Ghizzonija in Herberta Hangla za njegoveganamestnika. SpecifiËna lastniška struktura, v kateri je skoraj100-odstotni lastnik Bank Austria Creditanstalt AG Dunaj,njen veËinski lastnik pa UniCredit S.p.A., se odraža tudi vsestavi nadzornega sveta, saj so vsi njegovi Ëlani zaposleniv teh dveh družbah. »lani nadzornega sveta niso osebno,posredno ali neposredno udeleženi v lastniški strukturi niti nisov kakršnemkoli poslovnem odnosu z banko, tako da ne moreprihajati do konflikta interesov. FinanËna skupina UniCreditGroup ima sicer oblikovane tudi ustrezne mehanizme zaobvladovanje in reševanje morebitnih konfliktov interesov, Ëe bido njih kljub vsemu prišlo.Nadzorni svet banke je v letu 2007 spremljal in nadziraltekoËe poslovanje banke, dosežene finanËne rezultate ter delonjene uprave skladno s svojimi pooblastili, pristojnostmiin dolžnostmi, opredeljenimi v Statutu banke, Zakonu ogospodarskih družbah in Zakonu o banËništvu. Na rednihsejah nadzornega sveta je uprava banke Ëlane nadzornegasveta obvešËala o vseh pomembnih poslovnih dogodkihv banki in o drugih aktivnostih, povezanih s poslovanjembanke, o ekonomskem in politiËnem okolju, pomembnejšihzakonskih spremembah, ki so vplivale na poslovanje banke, tero doseženih finanËnih rezultatih banke v primerjavi s sprejetimfinanËnim naËrtom poslovanja. Uprava banke je nadzorni svetredno obvešËala tudi o priËakovanih finanËnih rezultatih dokonca finanËnega leta in o njihovem uresniËevanjuNadzorni svet banke se je sestal in odloËal na dveh rednih inna korespondenËnih sejah. Na prvi redni seji, ki je bila dne 7.maja 2007, so bili prisotni vsi Ëlani nadzornega sveta: FedericoGhizzoni (prek videokonference), mag. Wolfgang Edelmüller,mag. Helmut Haller, Herbert Hangel in mag. Martin Klauzer.Na drugi redni seji, ki je bila 12. novembra 2007, so bili pravtako prisotni vsi Ëlani nadzornega sveta: Federico Ghizzoni,mag. Wolfgang Edelmüller, mag. Helmut Haller, Herbert Hangelin mag. Martin Klauzer. Posamezni sklepi so bili v skladu zzakonskimi predpisi, pristojnostmi, opredeljenimi v statutu, inglede na potrebe banke po uËinkovitosti dela sprejeti tudi nakorespondenËnih sejah nadzornega sveta in nato predstavljeniin potrjeni na prvi naslednji redni seji nadzornega sveta.Nadzorni svet je sodeloval pri sprejemanju vseh ukrepov inaktivnosti, ki so bili potrebni za uresniËevanje skupne poslovnepolitike nadrejenih banËnih skupin. Potrdil je plan razvoja intemeljne poslovne politike banke za leto 2007. Nadzorni svet jeo realizaciji programa dela in svojih ugotovitvah ter pregledihzunanjih nadzornih institucij redno obvešËala tudi notranjarevizija. Nadzorni svet je še podal soglasje k planu notranjerevizije za leto 2007.Uprava banke je nadzornemu svetu predložila v obravnavotudi Sklep o uporabi Ëistega dobiËka poslovnega leta 2007v višini 15.181.297,60 evrov in predlog Sklepa o uporabibilanËnega dobiËka poslovnega leta 2007 v višini 7.590.648,80evrov. Uprava banke je predlagala, da se zaradi naËrtovanegapoveËevanja obsega poslovanja v letu 2008 in prihodnjihletih v skladu s sprejetimi srednjeroËnimi naËrti banke terza zagotavljanje predpisane kapitalske ustreznosti bankeËisti dobiËek banke ne uporabi za razdelitev delniËarjem alidrugim osebam, ampak se v celoti razporedi v druge rezervebanke. Uprava banke je tudi predlagala, da nadzorni svet inskupšËina delniËarjev v skladu s svojimi pristojnostmi sprejmetaUniCredit Bank · 2007 Letno poroËilo45


PoroËilo nadzornega svetaPoroËilo nadzornega svetapredlagani sklep o uporabi dobiËka poslovnega leta 2007. Ssprejemom takega predloga bo omogoËena nadaljnja rast banke.Nadzorni svet je sprejel Sklep o uporabi Ëistega dobiËka za leto2007, soglašal s predlogom uprave o uporabi bilanËnega dobiËkaza leto 2007 in priporoËil skupšËini delniËarjev, da ga sprejme vpredlagani obliki.Uprava banke je pripravila letno poroËilo o poslovanju UniCreditBanka Slovenija d.d. v letu 2007 in ga v zakonskem rokupredložila nadzornemu svetu banke v preveritev. Skupaj z letnimporoËilom je bilo nadzornemu svetu predloženo tudi revizijskoporoËilo o pregledu raËunovodskih izkazov za poslovno leto2007, ki ga je sestavila pooblašËena revizorska družba KPMGSlovenija d.o.o., zato da bi nadzorni svet zavzel stališËe dorevizijskega poroËila banke.UËinkovitost dela bo poveËala tudi v letu 2007 sprejetasprememba Statuta, ki doloËa, da se nadzorni svet sestaja enkratv Ëetrtletju namesto enkrat v polletju, kot je to bilo doslej. Ravnotako je podal soglasje k Poslovniku o delu uprave banke insprejel Poslovnik o delu nadzornega sveta, ki doloËa tudi notranjoorganiziranost in naËin delovanja. Skladno s pravili skupineUniCredit Group je predlagal ustanovitev revizijske komisije.Nadzorni svet ocenjuje, da je svoje delo v letu 2007 opravils profesionalno skrbnostjo, skladno z veljavno zakonodajo ternotranjimi pravili finanËne skupine UniCredit Group.Federico GhizzoniPredsednik nadzornega svetaUniCredit Banka Slovenija d.d.Nadzorni svet je preveril letno poroËilo, ki mu ga je v obravnavopredložila uprava banke. Ugotovil je, da je letno poroËilo v skladus poroËili in informacijami o poslovanju banke v letu 2007 ters poroËili o ekonomskem in politiËnem okolju, v katerem bankadeluje in so bila nadzornemu svetu predstavljena v poslovnemletu. Letno poroËilo je nadzorni svet primerjal tudi z revidiranimiraËunovodskimi izkazi za poslovno leto 2007 in ugotovil, da sofinanËni rezultati, predstavljeni v letnem poroËilu, v soglasju zrevizijskim poroËilom. Na osnovi poroËil, ugotovitev in priporoËilnotranje revizije ter zunanjih nadzornikov je uprava bankepriporoËila upoštevala in opravila potrebne aktivnosti za njihovoizpolnitev oziroma zagotovila, da bodo vse potrebne aktivnostiopravljene. Nadzorni svet meni, da sta skupaj z upravo banke vposlovnem letu 2007 izpolnila vse zakonske zahteve. Na temeljurednega spremljanja poslovanja banke in navedenih preverjanj jenadzorni svet potrdil letno poroËilo o poslovanju banke v letu 2007.V revizijskem poroËilu o pregledu raËunovodskih izkazov zaposlovno leto 2007, ki je bilo nadzornemu svetu predloženoskupaj z letnim poroËilom, je podano tudi mnenje pooblašËenegarevizorja, ki je izdal mnenje brez pridržka. Nadzorni svet jeseznanjen z revizijskim poroËilom banke za leto 2007 in nimapripomb na poroËilo.46 2007 Letno poroËilo · UniCredit Bank


Izjava odgovornostiIzjava odgovornostiUprava je odgovorna za pripravo raËunovodskih izkazov za poslovnoleto. Ti morajo resniËno in pošteno prikazovati premoženjsko stanjeUniCredit Banka Slovenija d.d. ob koncu poslovnega leta ter njenfinanËni in poslovni izid za to leto. Uprava mora raËunovodskeizkaze pripraviti skladno z naËelom Ëasovne neomejenostiposlovanja, razen kadar to ni primerno.Uprava je pri pripravi raËunovodskih izkazov v letnem poroËiluza leto, ki se je konËalo 31. decembra 2007, dosledno uporabilaustrezne raËunovodske usmeritve in jih podprla z utemeljenimi inprevidnimi presojami in ocenami ter zagotovila skladnost z vsemiraËunovodskimi standardi, o katerih meni, da so pomembni.Uprava je odgovorna zagotoviti, da banka vodi raËunovodskeevidence, ki z razumno natanËnostjo razkrivajo finanËni položajbanke in s katerimi je mogoËe zagotoviti, da so raËunovodski izkaziv vseh pomembnejših pogledih skladni s predpisi vlade RepublikeSlovenije, predpisi in navodili Banke Slovenije ter z mednarodnimistandardi raËunovodskega poroËanja. Uprava je v splošnemodgovorna tudi za sprejetje ukrepov, ki so razumno potrebni zazašËito premoženja banke in za prepreËevanje in odkrivanje prevarin drugih nepravilnosti.V imenu upraveDr. France ArharPredsednik upraveDr. Heribert Fernau»lan upraveLjubljana, 20. februarja 2008UniCredit Bank · 2007 Letno poroËilo47


PoroËilo neodvisnega revizorjaPoroËilo neodvisnega revizorjaUniCredit Bank · 2007 Letno poroËilo49


RaËunovodski izkaziRaËunovodski izkaziFinanËni kazalniki 51Bilanca stanja 52Izkaz poslovnega izida 53Izkaz gibanja kapitala 54Izkaz finanËnega izida 55Povzetek raËunovodskih usmeritev 56Pojasnila k raËunovodskim izkazom 6450 2007 Letno poroËilo · UniCredit Bank


FinanËni kazalniki2007 2006 2005Bilanca stanja EUR 1.000BilanËna vsota 2.132.693 2.187.291 1.883.434Vloge nebanËnega sektorja 721.539 594.162 625.401Vloge pravnih in drugih oseb 370.875 371.466 421.512Vloge prebivalstva 350.664 222.696 203.889Krediti nebanËnemu sektorju 1.595.225 1.266.621 1.003.896Dani krediti pravnih in drugih oseb 1.159.762 948.895 791.588Dani krediti prebivalstvu 435.463 317.726 212.309Celotni kapital 163.615 146.868 138.309Oslabitve kreditov, merjenih po odplaËni vrednosti 16.181 12.144 13.177Rezervacije za zunajbilanËne postavke 1.071 1.429 890ZunajbilanËne postavke 5.765.607 2.600.533 1.106.695Izkaz poslovnega izida»iste obresti 35.750 32.902 29.010»isti neobrestni prihodki 20.278 15.704 10.730Stroški dela (15.424) (13.125) (11.545)Drugi administrativni stroški (13.419) (12.399) (8.397)Amortizacija (3.165) (2.919) (2.544)Oslabitve in rezervacije v letu (4.306) (5.408) (2.954)Poslovni izid pred obdavËitvijo 19.712 14.754 14.299Davek od dohodka pravnih oseb (4.531) (3.822) (3.349)ZaposleniŠtevilo zaposlenih na dan 31. 12. 450 417 391Navadne delniceŠtevilo delniËarjev 28 28 28Knjigovodska vrednost navadnih delnic za nominalne vrednostiEUR 417,29 - 3.766,93 3.716,33EUR 41,73 - 376,69 371,63EUR 4,17 41,96 37,67 37,16Število navadnih delnic za nominalne vrednostiEUR 417,29 - 13.000 13.000EUR 41,73 - 120.028 120.028EUR 4,17 3.898.878 1.398.598 1.221.378KapitalKapitalska ustreznost 8,50 9,50 10,30Kvaliteta aktive bilance stanja in prevzetih obveznostiOslabitve finanËnih sredstev, merjenih po odplaËni vrednosti/bilanËna vsota 0,76% 0,56% 0,70%Rezervacije za prevzete obveznosti/zunajbilanËno poslovanje 9,47% 17,52% 30,39%ProfitabilnostObrestna marža 1,81 1,70 1,82Donos na aktivo pred davki 1,00 0,76 0,64Donos na kapital pred davki 12,69 10,35 9,84Donos na kapital po davkih 9,77 7,67 7,61Stroški poslovanjaOperativni stroški / aktiva 1,62 1,47 1,43LikvidnostTehtana aktiva 1.632.425 1.052.532 859.610PovpreËna likvidna sredstva / povpreËna aktiva 8,11 7,70 5,99PovpreËna likvidna sredstva / povpreËne kratkoroËne vloge nebanËnega sektorja 27,85 29,46 21,92Maræa finanËnega posredniπtva 2,84 2,51 2,55UniCredit Bank · 2007 Letno poroËilo51


RaËunovodski izkaziBilanca stanjaOznaka bil. postavke Vsebina Pojasnilo 31. 12. 2007 31. 12. 2006EUR 1.000A. 1. Denar v blagajni in stanje na raËunih pri centralni banki 1 27.753 18.547A. 2. FinanËna sredstva, namenjena trgovanju 2 189.263 117.419A. 3. FinanËna sredstva, pripoznana popošteni vrednosti skozi izkaz poslovnega izida 3 20.444 30.359A. 4. FinanËna sredstva, razpoložljiva za prodajo 4 115.377 157.859A. 5. Izvedeni finanËni instrumenti, namenjeni varovanju 5 1.818 863A. 6. Krediti 6 1.743.388 1.645.402krediti bankam 148.164 378.781krediti strankam 1.595.225 1.266.621A. 7. FinanËna sredstva v posesti do zapadlosti 7 - 188.414A. 8. Opredmetena osnovna sredstva 8 6.442 6.805A. 9. Neopredmetena sredstva 9 7.049 6.722A. 10. Terjatve za davek od dohodkov pravnih oseb 10 8.235 4.929terjatve za davek 4.753 766odložene terjatve za davek 3.482 4.163A. 11. Druga sredstva 11 12.924 9.972Skupaj sredstva 2.132.693 2.187.291P. 1. FinanËne obveznosti, namenjene trgovanju 12 50.445 23.182P. 2. Izvedeni finanËni instrumenti, namenjeni varovanju 5 91 667P. 3. FinanËne obveznosti, merjene po odplaËni vrednosti 13 1.904.250 1.999.901vloge bank 948.099 1.129.312vloge strank, ki niso bake 721.539 594.162krediti bank 234.612 276.427P. 4. Rezervacije 14 1.071 1.429P. 5. Obveznosti za davek od dohodkov pravnih oseb 15 2.915 9.104obveznosti za davek - 6.253odložene obveznosti za davek 2.915 2.851P. 6. Druge obveznosti 16 10.306 6.140P. 7. Osnovni kapital 17 16.258 16.270P. 8. Kapitalske rezerve 17 61.885 61.873P. 9. Presežek iz prevrednotenja 17 (502) (2.068)P. 10. Rezerve iz dobiËka (vkljuËno z zadržanim dobiËkom) 17 78.383 65.327P. 11. »isti dobiËek/izguba poslovnega leta 17 7.591 5.466Skupaj obveznosti in kapital 2.132.693 2.187.291B. ZunajbilanËno poslovanje (B.1 - B.4) 32 5.765.607 2.600.533Dr. France ArharPredsednik upraveDr. Heribert Fernau»lan upravePojasnila k raËunovodskim izkazom so sestavni del slednjih in jih je treba brati skupaj z njimi.52 2007 Letno poroËilo · UniCredit Bank


Izkaz poslovnega izidaZap.πtev.Vsebina Pojasnilo 2007 2006EUR 1.0001 Prihodki iz obresti in podobni prihodki 18 115.114 77.7702 Odhodki za obresti in podobni odhodki 18 (79.364) (44.868)3 »iste obresti (1 - 2) 18 35.750 32.9024 Prihodki iz dividend 19 21 565 Prihodki iz opravnin (provizij) 20 34.687 20.4826 Odhodki za opravnine (provizije) 20 (17.603) (7.336)7 »iste opravnine (provizije) (5 - 6) 20 17.084 13.1468 Realizirani dobiËki/izgube iz finanËnih sredstev in obveznosti, ki niso merjeni po pošteni vrednosti skozi izkazposlovnega izida21 (751) 6869 »isti dobiËki/izgube iz finanËnih sredstev in obveznosti, namenjenih trgovanju 22 4.255 3.19910 DobiËki/izgube iz finanËnih sredstev in obveznosti, pripoznanih po pošteni vrednosti skozi izkaz poslovnega izida 23 41 (595)11 »isti dobiËki/izgube iz teËajnih razlik 24 (537) (762)12 »isti dobiËki/izgube iz odprave pripoznanja sredstev brez nekratkoroËnih sredstev v posesti za prodajo 25 (30) (22)13 Drugi Ëisti poslovni dobiËki/izgube 26 193 (5)14 FinanËni in poslovni prihodki in odhodki 56.026 48.60615 Administrativni stroški 27 (28.843) (25.524)16 Amortizacija 28 (3.165) (2.919)17 Rezervacije 29 348 (644)18 Oslabitve 30 (4.654) (4.765)19 DOBI»EK/IZGUBA IZ REDNEGA POSLOVANJA 19.712 14.75320 Davek iz dohodka pravnih oseb iz rednega poslovanja 31 (4.531) (3.821)21 »ISTI DOBI»EK/IZGUBA POSLOVNEGA LETA 15.181 10.932DobiËek na delnico znaπa na dan 31. 12. 2007 3,89 evrov (2006: 2,80 evrov)Dr. France ArharPredsednik upraveDr. Heribert Fernau»lan upravePojasnila k raËunovodskim izkazom so sestavni del slednjih in jih je treba brati skupaj z njimi.UniCredit Bank · 2007 Letno poroËilo53


RaËunovodski izkaziIzkaz gibanja kapitalaIzkaz gibanja kapitala za leto 2007 (EUR 1.000)OznakapostavkeVsebinaOsnovni kapitalKapitalskerezervePresežek izprevrednotenjaRezerve izdobiËkaZadržanidobiËek»isti dobiËekposl. letaSkupaj kapital1 ZA»ETNO STANJE V OBRA»UNSKEM OBDOBJU 16.270 61.873 (2.068) 52.357 12.970 5.466 146.8682 »isti dobiËki/izgube iz prevrednotenja finanËnih sredstev,razpoložljivih za prodajo519 5193 »isti dobiËki/izgube iz varovanja denarnih tokov 1.047 1.0474 Skupaj Ëisti dobiËki/izgube po obdavËitvi, pripoznanineposredno v kapitalu - presežku iz prevrednotenja (2 do 3)1.566 1.5665 »isti dobiËek/izguba poslovnega leta (iz izkaza poslovnega izida) 15.181 15.1816 Skupaj Ëisti dobiËek/izguba poslovnega leta pripoznanv kapitalu (5)7 Razporeditev Ëistega dobiËka v rezerve iz dobiËka 26.026 (12.970) (13.056)8 Drugo (denominacija osnovnega kapitala) (12) 1215.181 15.1819 KON»NO STANJE V OBRA»UNSKEM OBDOBJU 16.258 61.885 (502) 78.383 7.591 163.61510 BILAN»NI DOBI»EK POSLOVNEGA LETA 7.591 7.591Izkaz gibanja kapitala za leto 2006 (EUR 1.000)OznakapostavkeVsebinaOsnovni kapitalKapitalskerezervePresežek izprevrednotenjaRezerve izdobiËkaZadržanidobiËek»isti dobiËekposlovn. letaSkupaj kapital1 ZA»ETNO STANJE V OBRA»UNSKEM OBDOBJU 15.530 62.613 268 42.974 12.971 3.916 138.2722 »isti dobiËki/izgube iz prevrednotenja finanËnih sredstev,razpoložljivi za prodajo(2.531) (2.531)3 »isti dobiËki/izgube iz varovanja denarnih tokov 195 1954 Skupaj Ëisti dobiËki/izgube po obdavËitvi, pripoznanineposredno v kapitalu - presežku iz prevrednotenja (2 do 3)(2.336) (2.336)5 »isti dobiËek/izguba poslovnega leta (iz izkaza poslovnega izida) 10.932 10.9326 Skupaj Ëisti dobiËek/izguba poslovnega leta pripoznanv kapitalu (5)7 Vpis (ali vplaËilo) novega kapita 740 (740)10.932 10.9328 Razporeditev Ëistega dobiËka v rezerve iz dobiËka 9.383 (1) (9.382)9 KON»NO STANJE V OBRA»UNSKEM OBDOBJU 16.270 61.873 (2.068) 52.357 12.970 5.466 146.86810 BILAN»NI DOBI»EK POSLOVNEGA LETA 12.970 5.466 18.436Dr. France ArharPredsednik upraveDr. Heribert Fernau»lan upravePojasnila k raËunovodskim izkazom so sestavni del slednjih in jih je treba brati skupaj z njimi.54 2007 Letno poroËilo · UniCredit Bank


Izkaz finanËnega izidaOznaka Vsebina 2007 2006EUR 1.000A. DENARNI TOKOVI PRI POSLOVANJUa) »isti poslovni izid pred obdavËitvijo 19.712 14.754Amortizacija 3.165 2.919Oslabitve/(odprava oslabitve) finanËnih sredstev v posesti do zapadlosti 4.642 4.678Oslabitve opredmetenih osnovnih sredstev, naložbenih nepremiËnin, neopredmetenih dolgoroËnih sredstev in drugih sredstev 12 -»isti (dobiËki)/izgube iz teËajnih razlik 537 762Drugi (dobiËki)/izgube iz financiranja (1.044)Neto nerealizirani dobiËki v kapitalu oz. presežku iz prevrednotenja iz finanËnih sredstev, razpoložljivih za prodajo (brez uËinka(38) 86odloženega davka)Neto nerealizirani dobiËki v kapitalu oz. presežku iz prevrednotenja iz varovanja denarnih tokov pred tveganji (brez uËinka1.336 121odloženega davka)Druge prilagoditve Ëistega poslovnega izida pred obdavËitvijo (348) 644Denarni tokovi pri poslovanju pred spremembami poslovnih sredstev in obveznosti 27.974 23.964b) (PoveËanja)/zmanjšanja poslovnih sredstev (brez denarnih ekvivalentov) (261.908) (385.837)»isto (poveËanje)/zmanjšanje sredstev pri centralni banki 0 6.279»isto (poveËanje)/zmanjšanje financnih sredstev, namenjenih trgovanju (16.909) (16.917)»isto (poveËanje)/zmanjšanje financnih sredstev, pripoznanih po pošteni vrednosti skozi izkaz poslovnega izida 9.825 -»isto (poveËanje)/zmanjšanje financnih sredstev, razpoložljivih za prodajo 736 (106.068)»isto (poveËanje)/zmanjšanje kreditov (251.862) (260.232)»isto (poveËanje)/zmanjšanje drugih sredstev (3.698) (8.898)c) PoveËanja/(zmanjšanja) poslovnih obveznosti (80.041) 279.288»isto poveËanje/(zmanjšanje) vlog in najetih kreditov, merjenih po odplaËni vrednosti (84.419) 276.440»isto poveËanje/(zmanjšanje) drugih obveznosti 4.378 2.848Ë) Denarni tokovi pri poslovanju (a+b+c) (313.975) (82.585)d) (PlaËani)/vrnjeni davek na dohodek pravnih oseb (14.546) (4.153)e) Neto denarni tokovi pri poslovanju (Ë+d) (328.521) (86.738)B. DENARNI TOKOVI PRI NALOŽBENJUa) Prejemki pri naložbenju 145 1.178.734Prejemki pri prodaji opredmetenih osnovnih sredstev in naložbenih nepremiËnin 145 53Prejemki pri prodaji finanËnih sredstev v posesti do zapadlosti 1.178.681b) Izdatki pri naložbenju (3.183) (1.181.626)(Izdatki pri nakupu opredmetenih osnovnih sredstev in naložbenih nepremiËnin) (1.306) (2.264)(Izdatki pri nakupu neopredmetenih dolgoroËnih sredstev) (1.877) (1.989)(Izdatki za nakup finanËnih sredstev v posesti do zapadlosti) (1.177.372)c) Neto denarni tokovi pri naložbenju (a+b) (3.038) (2.891)C. DENARNI TOKOVI PRI FINANCIRANJUa) Prejemki pri financiranju - -b) Izdatki pri financiranju - -c) Neto denarni tokivi pri financiranju (a-b) - -D. UËinki spremembe deviznih teËajev na denarna sredstva in njihove ustreznike (1.210) (33)E. UËinki spremembe poπtene vrednosti na denarna sredstva in njihove ustreznike (938) (1.065)F. »isto poveËanje denarnih sredstev in denarnih ustreznikov (Ae+Bc+Cc) (331.559) (89.630)G. Denarna sredstva in njihovi ustrezniki na zaËetku obdobja 563.756 654.484H. Denarna sredstva in njihovi ustrezniki na koncu obdobja (D+E+F+G) 230.049 563.756Dr. France ArharPredsednik upraveDr. Heribert Fernau»lan upravePojasnila k raËunovodskim izkazom so sestavni del slednjih in jih je treba brati skupaj z njimi.UniCredit Bank · 2007 Letno poroËilo55


RaËunovodski izkaziPovzetek raËunovodskih usmeritevSplošne informacijeUniCredit Banka Slovenija d.d. je poslovna banka s sedežem vSloveniji, ki nudi široko paleto finanËnih storitev pravnim in fiziËnimosebam. Banka je bila registrirana kot delniška družba 24. januarja1991. Njen sedež je na Šmartinski cesti 140, Ljubljana, Slovenija.Dne 31. decembra 2007 je imela banka skupno štirinajst poslovalnicpo vsej Sloveniji. KonËna matiËna banka je UniCredit S.p.A., Genova.Konsolidirani raËunovodski izkazi so na voljo na naslovu UniCreditoItaliano S.p.A, Via San Protaso 1/3, 20121 Milano, Italija.Glavne dejavnosti banke so:••••••sprejemanje in plasiranje depozitov,ponujanje transakcijskih raËunov in raËunov za vezavo depozitov,dajanje kratkoroËnih in dolgoroËnih posojil ter garancij državnemuzakladništvu, lokalnim skupnostim, pravnim osebam, prebivalstvuin drugim finanËnim institucijam, ki se ukvarjajo s finanËnimlizingom in poslovanjem s tujimi valutami,zakladniško poslovanje na medbanËnem trgu,upravljanje skladov in storitve investicijskega banËništva,izvajanje domaËega plaËilnega prometa in plaËilnega prometa stujino,ponujanje banËnih storitev prebivalstvu prek banËne mreže vSloveniji.•Objavljene raËunovodske izkaze je uprava potrdila 26. februarja2008.Povzetek pomembnih raËunovodskihusmeritev - osnovne predstavitvePovzetek pomembnih raËunovodskih usmeritev, uporabljenihpri pripravi raËunovodskih izkazov navajamo spodaj. NavedenoraËunovodsko politiko banka uprablja za tekoËe in primerjalno leto, vkolikor pa ne, je to posebej navedeno.Izjava o skladnostiTi nekonsolidirani raËunovodski izkazi so bili pripravljeni v skladuz Mednarodnimi standardi raËunovodskega poroËanja (MSRP)in pojasnili, ki jih je objavil Odbor za mednarodne raËunovodskestandarde (International Accounting Standards Board, IASB) in jih jesprejela Evropska unija. Z dnem objave teh raËunovodskih izkazovse MSRP-ji, kot jih je sprejela Evropska unija, ne razlikujejo odMSRP-jev, kot jih je objavil IASB, razen za instrumente, za katere vskladu z MRS 39 velja obraËunavanje varovanja pred tveganjem, kiga Evropska unija ni sprejela. Banka ne uporablja instrumentov, zakatere bi veljalo obraËunavanje varovanja pred tveganjem v skladuz MRS 39. Tako morebiten sprejem MRS 39 s strani Evropske unijena dan bilance stanja tudi v delu obraËunavanja varovanja predtveganjem ne bi imel uËinka na priložene raËunovodske izkaze banke.Ti raËunovodski izkazi so pripravljeni v skladu z MSRP, pri Ëemerso kot podlaga za merjenje uporabljene izvirne vrednosti, razen obmerjenju nekaterih finanËnih instrumentov, kjer so kot podlaga zamerjenje uporabljene njihove poštene vrednosti.Za pripravo raËunovodskih izkazov mora uprava pripraviti presoje,ocene in predpostavke, ki vplivajo na uporabo raËunovodskihusmeritev ter na izkazane zneske sredstev, obveznosti, prihodkov inodhodkov. Dejanski rezultati lahko odstopajo od ocen.Banka redno pregleduje ocene in osnovne predpostavke zanje.Spremembe raËunovodskih ocen se pripoznajo v obdobju, v kateremje ocena spremenjena ter v prihodnjih obdobjih, na katera vpliva.Podrobnejše informacije o znaËilnih podroËjih ocenjene negotovostiin kritiËne presoje v uporabi raËunovodskih usmeritev, ki imajonajveËji vpliv na zneske, pripoznane v raËunovodskih izkazih, soopisane v poglavju BanËna tveganja.56 2007 Letno poroËilo · UniCredit Bank


Primerjalni zneskiZaradi zagotavljanja primerljivosti zneskov v obeh prikazanih letih sobili zneski za leto 2006 prerazvršËeni kot sledi:• V bilanci stanja so terjatve in obveznosti za obresti prerazvršËenena instrumente.Spremembe ra»unovodskih usmeritevPomembnejše spremembe raËunovodske politike v letu 2007 so bilenaslednje:• Vsa finanËna sredstva, s katerimi razpolaga banka, so pripoznanaob upoštevanju datuma trgovanja (v letu 2006 ob upoštevanjudatuma plaËila), razen posojil in terjatev, ki so pripoznani obupoštevanju datuma plaËila (glej pojasnilo 2).• Prilagoditev poštene vrednosti je bila pripoznana v izkazuposlovnega izida (za finanËna sredstva v posesti za trgovanje) in vkapitalu (za prodajo razpoložljiva finanËna sredstva) (glej pojasnili17 in 22).• Banka je zvišala mejo za pripoznavanje drobnega inventarja s 100EUR na 400 EUR. Že pripoznana osnovna sredstva do te vrednostiso bila odpisana v breme amortizacije (glej pojasnilo 8).• Banka je spremenila dobe koristnosti nekaterih skupin osnovnihsredstev, kot je razvidno iz tabele v poglavju Opredmetena osnovnasredstva (nepremiËnine, naprave in oprema) in neopredmetenadolgoroËna sredstva (glej pojasnilo 8).• Spremenjena politika prevedbe tuje valute (glej razlago spodaj).• Banka je v letu 2007 prviË pripoznala stroške zaslužkov v oblikiplaËane odsotnosti iz naslova neizkorišËenih dopustov (glejpojasnilo 27).Za vpeljavo vseh sprememb se je banka odloËila prostovoljno.Izdani, vendar še ne uveljavljeni standardiin pojasnilaŠtevilni novi standardi, dopolnitve standardov in pojasnila za leto, kise je konËalo na dan 31. december 2007, še ne veljajo in jih Bankapri pripravi raËunovodskih izkazov ni upoštevala:• MSRP 8 Poslovni odseki v poroËanje po odsekih uvaja t.i.“poslovodni pristop ”. MSRP 8, ki ga bo Banka morala upoštevatipri pripravi raËunovodskih izkazov za poslovno leto 2009, doloËarazkritja o odsekih na podlagi internih poroËil, ki jih bo rednopreverjal glavni nosilec odloËanja v Banki (Chief OperatingDecision Maker), da oceni poslovno uspešnost vsakega odseka injim dodeli sredstva.• Prenovljeni MRS 23 Stroški izposojanja ne daje veË možnostipripoznavanja stroškov izposojanja kot odhodkov in zahteva, dapodjetje stroške izposojanja, ki jih je mogoËe pripisati neposrednonakupu, gradnji ali proizvodnji sredstva v pripravi, usredstvi kotdel nabavne vrednosti zadevnega sredstva. Prenovljeni MRS 23bo Banka morala priËeti uporabljati pri pripravi raËunovodskihizkazov za poslovno leto 2009, kar bo predstavljalo spremembov raËunovodskih usmeritvah Banke. Skladno s prehodnimidoloËbami bo Banka prenovljeni MRS 23 uporabila pri tistihsredstvih, pri katerih se usredstvenje stroškov izposojanja priËnena dan, ko sprememba stopi v veljavo ali pozneje.• OPMSRP 11 MSRP 2 - Transakcije z delnicami skupine in zlastnimi delnicami doloËa, da se plaËila z delnicami, pri katerihpodjetje prejme blago ali storitve kot plaËilo za lastne kapitalskeinštrumente, obraËuna kot poravnava s kapitalom, ne glede nato, kako so bili lastni kapitalski inštrumenti pridobljeni. IFRIC 11bo Banka morala upoštevati pri pripravi raËunovodskih izkazov zaposlovno leto 2008, pri Ëemer bo pojasnilo morala uporabiti zanazaj. Ne priËakujemo, da bo OPMSRP 11 imel vpliv na njeneraËunovodske izkaze.• OPMSRP 12 Dogovori o storitvenih koncesijah daje navodilaglede doloËenih vprašanj pri izkazovanju in vrednotenju v zvezis koncesijami za javne storitve. Ne priËakujemo, da bo imelOPMSRP 12, ki ga bo Banka morala upoštevati pri pripravi izkazovza poslovno leto 2008, vpliv na njene raËunovodske izkaze.• OPMSRP 13 Programi zvestobe kupcev se nanaša naraËunovodstvo podjetij, ki izvajajo ali so drugaËe udeleženav programih zvestobe kupcev. Nanaša se na tiste programezvestobe kupcev, v katerih ti pridobijo pravico do nagrade, kotna primer brezplaËno ali cenovno ugodnejše blago ali storitve.Ne priËakujemo, da bo imel OPMSRP 13, ki ga bo Banka moralaupoštevati pri pripravi izkazov za poslovno leto 2009, vpliv nanjene raËunovodske izkaze.• OPMSRP 14 MRS 19 - Omejitve v zvezi s sredstvi doloËenihzaslužkov, minimalne stopnje kapitaliziranosti in njihovemedsebojne povezanosti pojasnjuje, kdaj se za povraËila alizmanjšanja bodoËih prispevkov v zvezi s sredstvi doloËenihzaslužkov smatra, da so na voljo, in daje navodila glede vplivazahteve po minimalni stopnji kapitaliziranosti (MFR) na takšnasredstva. Pojasnjuje tudi, kdaj lahko MFR privede do obveznosti.Ne priËakujemo, da bo imel OPMSRP 14, ki ga bo Banka moralaupoštevati pri pripravi izkazov za poslovno leto 2008, vpliv nanjene raËunovodske izkaze.UniCredit Bank · 2007 Letno poroËilo57


RaËunovodski izkaziPovzetek raËunovodskih usmeritevPrevedba tuje valuteFunkcijska in predstavitvena valuta: Postavke v raËunovodskih izkazihso evidentirane v evrih, ki so bankina funkcijska in predstavitvenavaluta. Primerjalni raËunovodski izkazi za leto 2006 so bilipripravljeni v slovenskih tolarjih in pretvorjeni v evre po fiksnemteËaju 239,64.Transakcije in stanja: Transakcije v tuji valuti so pretvorjene vfunkcijsko valuto z uporabo menjalnega teËaja Evropske centralnebanke na dan posla. Banka je spremenila politiko v letu 2007. Do12. decembra 2007 je bil menjalni teËaj Evropske centralne bankeuporabljen za pretvorbo naslednji dan po objavi, od 12. decembra2007 pa je menjalni teËaj Evropske centralne banke uporabljen nadan objave. Vsak dobiËek ali izguba, ki izhaja iz poravnave transakcijv tujih valutah ter iz pretvorbe denarnih postavk v tujih valutah vfunkcijsko valuto, je poroËan v izkazu poslovnega izida, razen Ëe jezadržan v kapitalu v primeru varovanja denarnih tokov pred tveganjemter za prodajo razpoložljivih finanËnih sredstev.Valutni terminski posli se preraËunajo v evre po sklenjenemterminskem teËaju.Promptni menjalni teËaji, ki so bili uporabljeni pri pripravi bilancestanja banke na dan poroËanja, so bili naslednji:Valuta 31. 12. 2007 31. 12. 2006EUR 1,0000 1,0000USD 1,4721 1,3172CHF 1,6547 1,6080Finan»na sredstvaBanka uvršËa finanËna sredstva v naslednje skupine: finanËnasredstva po pošteni vrednosti skozi poslovni izid, posojila in terjatve,finanËne naložbe v posesti do zapadlosti v plaËilo ter za prodajorazpoložljiva finanËna sredstva. Banka razvrsti finanËna sredstva v teskupine ob zaËetnem pripoznanju.Banka je v letu 2007 spremenila politiko pripoznavanja in odpravepripoznanja finanËnih sredstev. Vsa finanËna sredstva, s katerimirazpolaga banka, so pripoznana ter je njihovo pripoznanje odpravljenoob upoštevanju datuma trgovanja razen posojil in terjatev, ki sopripoznani ob upoštevanju datuma plaËila. Vsa finanËna sredstva se nazaËetku pripoznajo po pošteni vrednosti in Ëe gre za finanËno sredstvo,ki ni podano po pošteni vrednosti skozi poslovni izid, so prišteti tudistroški posla, ki neposredno izhajajo iz nakupa finanËnega sredstva.Banka odpravi pripoznanje finanËnih sredstev, kadar so poteklepogodbene pravice do denarnih tokov oziroma je prenesla pravicedo prejema denarnih tokov iz finanËnih sredstev skupaj z vsemitveganji in koristmi na drugo stranko. »e banka ohrani pravice doobvaldovanja tveganj, jih pripozna kot loËeno sredstvo oziromaobveznost.Banka odpravi pripoznanje finanËnih obveznosti, kadar so pogodbeneobveznosti izpolnjene, poteËejo oziroma so drugaËe prekinjene.a) FinanËna sredstva po pošteni vrednosti skozi poslovni izidV to skupino so uvršËena sredstva, ki so uvršËena kot v posesti zatrgovanje ter tista, ki jih banka po zaËetnem pripoznanju oznaËi popošteni vrednosti skozi poslovni izid.• FinanËno sredstvo je uvršËeno kot v posesti za trgovanje, Ëeje pridobljeno ali prevzeto v glavnem z namenom prodajeali ponovnega nakupa v kratkem roku ali Ëe je del portfeljaprepoznanih finanËnih instrumentov, ki se obravnavajo skupaj inza katere obstajajo dokazi o nedavnem kratkoroËnem pobiranjudobiËkov. Tudi izpeljani instrumenti so uvršËeni v posesti zatrgovanje, razen Ëe so instrumenti za varovanje pred tveganjem.Po zaËetnem pripoznanju se ti vrednostni papirji merijo inpripoznavajo po pošteni vrednosti, ki je približno enaka teËaju naorganiziranem trgu borznih vrednostnih papirjev ali izraËunana ssprejemljivim modelom vrednotenja. Banka vkljuËuje nerealiziranedobiËke in izgube v ››Ëisti dobiËki/izgube iz finanËnih sredstev inobveznosti, namenjenih trgovanju«. Obresti iz vrednostnih papirjevza trgovanje se obraËunavajo dnevno in so v izkazu poslovnegaizida prikazane kot ››prihodki iz obresti«. Njihov znesek je prikazanv pojasnilu 18.• Banka oznaËi finanËna sredstva po zaËetnem pripoznanju popošteni vrednosti skozi poslovni izid, ker ta oznaka znatno zmanjšanedoslednost merjenja, ki bi sicer izhajala iz merjenja izpeljanegafinanËnega instrumenta kot v posesti za trgovanje ter merjenjaosnovnega finanËna sredstva po metodi veljavnih obresti.Posojila, merjena po pošteni vrednosti skozi poslovni izid, soposojila s fiksno obrestno mero, ki so zavarovana pred tveganjempo referenËni obrestni meri posojila z zamenjavo obrestnih mer.Posojila so pripoznana po pošteni vrednosti skozi poslovni izid, dabi se s tem izognili napakam pri predstavitvi ekonomske vsebinetransakcije. Banka ugotavlja pošteno vrednost posojila najmanjenkrat meseËno.58 2007 Letno poroËilo · UniCredit Bank


) Posojila in terjatvePosojila in terjatve so neizpeljana finanËna sredstva z doloËenimi alidoloËljivimi plaËili, ki ne kotirajo na delujoËem trgu, razen:• tistih, ki jih banka namerava prodati takoj ali kratkoroËno, kise uvrstijo kot v posesti za trgovanje, in tistih, ki jih banka pozaËetnem pripoznanju oznaËi po pošteni vrednosti skozi poslovniizid,• tistih, ki jih banka po zaËetnem pripoznanju oznaËi kotrazpoložljiva za prodajo, ali• tistih, za katere imetnik morda ne dobi povrnjene skoraj celotnepripoznane zaËetne naložbe, vendar ne zaradi poslabšanja kreditnesposobnosti, ki se uvrstijo kot na razpolago za prodajo.Banka meri posojila in terjatve po odplaËni vrednosti. Ker bankaše ni uvedla ustrezne programske rešitve za pripoznavanje provizijza posojila pravnim osebam po metodi veljavnih obresti, so le-telinearno razmejene.Banka na datum vsakega poroËanja oceni, ali je kako znamenje, dautegne biti sredstvo oslabljeno. »e je kakršnokoli tako znamenje,oceni nadomestljivo vrednost sredstva.Za vsa posojila se uporablja individualna presoja finanËnih sredstev,razen za fiziËne osebe, kjer se uporablja ocena kakovosti portfeljafinanËnih sredstev.Nepomembni izdatki tretjim osebam, ki nastanejo pri odobritviposojila, kot so na primer stroški odvetniških storitev, so všteti vstroške odobritve posojila, medtem ko se pomembni izdatki tretjimosebam razmejujejo skozi celotno dobo trajanja posojila. Posojila interjatve so pripoznane, ko je denar posredovan posojilojemalcem.c) FinanËne naložbe v posesti do zapadlosti v plaËiloFinanËne naložbe v posesti do zapadlosti v plaËilo so neizpeljanafinanËna sredstva z doloËenimi ali doloËljivimi plaËili in doloËenozapadlostjo v plaËilo, ki jih banka nedvoumno namerava in zmoreposedovati do zapadlosti. Ta portfelj sestavljajo dolžniški vrednostnipapirji.FinanËne naložbe v posesti do zapadlosti v plaËilo se izkazujejo poodplaËni vrednosti. Banka na datum vsakega poroËanja oceni, ali jekako znamenje, da utegne biti sredstvo oslabljeno. »e je kakršnokolitako znamenje, oceni nadomestljivo vrednost sredstva.d) Za prodajo razpoložljiva finanËna sredstvaZa prodajo razpoložljiva finanËna sredstva so tista neizpeljanafinanËna sredstva, ki so oznaËena kot razpoložljiva za prodajo ali paniso uvršËena kot posojila in terjatve, finanËne naložbe v posesti dozapadlosti v plaËilo ali finanËna sredstva po pošteni vrednosti skoziposlovni izid. Ta portfelj vkljuËuje lastniške in dolžniške vrednostnepapirje.Po prvotnem izkazovanju se za prodajo razpoložljiva finanËna sredstvaizmerijo po njihovih poštenih vrednostih. Kadar tržne cene niso navoljo, se poštena vrednost dolžniških vrednostnih papirjev oceni zuporabo sedanje vrednosti priËakovanih prihodnjih denarnih tokov,poštena vrednost lastniških vrednostnih papirjev, ki ne kotirajo naborzi, pa z uporabo ustreznih razmerij teËaj/donos ali teËaj/denarnitok, prilagojenih tako, da odražajo specifiËne okolišËine izdajatelja.DobiËek ali izguba pri finanËnem sredstvu, ki je na razpolago zaprodajo, se pripozna neposredno v kapitalu prek izkaza gibanjakapitala, razen izgub zaradi oslabitve in deviznih dobiËkov in izgub,dokler se za finanËno sredstvo ne odpravi pripoznanja in tedaj je prejpripoznani nabrani dobiËek ali izguba pripoznan/a v poslovnem izidu.Obresti, izraËunane po metodi veljavnih obresti, se obraËunavajodnevno in se pripoznajo v poslovnem izidu. Dividende za kapitalskiinstrument, ki je na razpolago za prodajo, se pripoznajo v poslovnemizidu, ko je uveljavljena pravica banke do plaËila.Izpeljani finan»ni instrumentiV svojem rednem poslovanju banka sklepa posle z izpeljanimifinanËnimi instrumenti, ki predstavljajo majhno zaËetno naložbov primerjavi z nazivno vrednostjo pogodbe. Uporabljani izpeljanifinanËni instrumenti vkljuËujejo obrestne in valutne terminskepogodbe (forward), zamenjave (swap) in opcije (option). Te finanËneinstrumente uporablja banka za varovanje pred obrestnim in valutnimtveganjem, s katerima se sreËuje pri svojem poslovanju na finanËnihtrgih, aktivno odpira svoje pozicije ter jih prodaja strankam.Izpeljani finanËni instrumenti se v bilanci stanja na zaËetkupripoznajo po odplaËni vrednosti in se pozneje izmerijo po poštenivrednosti. Poštene vrednosti so doloËene na podlagi objavljenihcen na delujoËem trgu, z uporabo modelov diskontiranih denarnihtokov ali uporabo modelov za opcijsko vrednotenje, odvisno odposameznega izpeljanega finanËnega instrumenta. Spremembepoštene vrednosti izpeljanih finanËnih instrumentov, ki nepredstavljajo instrumentov za varovanje pred tveganjem, se izkazujejov postavki ››dobiËek in izguba finanËnih sredstev in obveznosti, ki sov posesti za trgovanje«.UniCredit Bank · 2007 Letno poroËilo59


RaËunovodski izkaziPovzetek raËunovodskih usmeritevVse izvedene finanËne instrumente se izkazuje kot sredstva, Ëeje njihova poštena vrednost pozitivna, in kot obveznosti, Ëe jeta negativna.Poštena vrednost izpeljanih finanËnih instrumentovv posesti za trgovanje je prikazana v pojasnilih 2 in 11, nazivnevrednosti omenjenih instrumentov pa so prikazane v pojasnilu 32,››IzvenbilanËne postavke, izpeljani finanËni instrumenti«.Valutne pogodbeValutne pogodbe so dogovori o izmenjavi doloËenega zneska valutepo vnaprej dogovorjenem teËaju, bodisi na datum trgovanja (datumplaËila sledi v dveh dneh) bodisi na nek poznejši datum (datumplaËila sledi v veË kot dveh dneh). Nazivne vrednosti teh pogodb neodražajo dejanskih tržnih oz. kreditnih tveganj, povezanih z njimi.Banka uporablja valutne pogodbe za namene upravljanja tveganj intrgovalne namene.Valutne in obrestne zamenjaveBanka vstopa v valutne in obrestne zamenjave. Valutne zamenjaveso kompleksni dogovori, ki vkljuËujejo zamenjavo doloËenegaizpeljanega finanËnega instrumenta, ki obiËajno vkljuËuje zamenjavona trgovalni dan in eno (devizno zamenjavo) ali veË (medvalutnazamenjava) rokovnih pogodb.Obrestne zamenjave zavezujejo stranki k izmenjavi enega aliveË zneskov, izraËunanih z uporabo nespremenljive ali obËasnospremenljive obrestne mere na doloËeno nazivno vrednost. Kotosnova za preraËun izmenjanih zneskov ob uporabi dogovorjene(ne)spremenljive obrestne mere služi nazivna vrednost posla.Nazivne vrednosti se pogosto uporabljajo le za prikaz obsega tehposlov in se med strankama, ki v dogovor vstopata, obiËajno neizmenjajo. Obrestne zamenjave, ki se uporabljajo za upravljanjeobrestnega tveganja, banka meri na podlagi kotiziranih tržnih cen.Opcijske pogodbeOpcijske pogodbe predstavljajo formalno rezervacijo pravice nakupaali prodaje dogovorjene koliËine sredstva v pogodbeno doloËenemroku po dogovorjeni ceni. Kupec opcije ima pravico, ne pa obveze,da uveljavi pravico nakupa ali prodaje dogovorjenega sredstva,prodajalec pa ima nepreklicno obvezo, da proda ali kupi dogovorjenokoliËino sredstva po ceni, dogovorjeni v opcijski pogodbi.Instrumenti za varovanje pred tveganjema) Varovanje poštene vrednosti pred tveganjemV letu 2007 banka ni izvajala varovanja poštene vrednosti predtveganjemb) Varovanje denarnih tokov pred tveganjem»e je izpeljan finanËni instrument opredeljen kot varovanje denarnihtokov, je instrument varovanja pripoznan po njegovi poštenivrednosti. Spremembe poštene vrednosti so razdeljene na efektivnidel, ki ga je mogoËe pripisati varovanju, in na neefektivni del, ki gani mogoËe pripisati varovanju. Varovanje je zelo efektivno, Ëe sodejanske spremembe znotraj obmoËja 80-125 %. Varovanje štejekot efektivno, Ëe so za vsako Ëasovno obdobje neto denarni tokovi,povezani z instrumenti varovanja, nižji ali enaki denarnim tokovompred tveganjem varovane postavke (postavk). Efektivni deli sopripoznani neposredno v kapital (rezerva za varovanje denarnih tokovpred tveganjem). Neefektivni deli so navedeni v izkazu poslovnegaizida, Ëe je instrument varovanja izpeljan finanËni instrument. Dabi se bilo mogoËe izogniti neuspešnosti, se pripravljajo projekcije,predvsem za limite in morebitne vzroke za neefektivnost. Oddelek zatržna tveganja vsak konec meseca izvede preskus uËinkovitosti.Opredmetena osnovna sredstva (nepremi»nine,naprave in oprema) in neopredmetenadolgoro»na sredstvaOpredmetena osnovna in neopredmetena dolgoroËna sredstvase pripoznajo po nabavni vrednosti. Banka je za merjenje popripoznanju izbrala model nabavne vrednosti, kar pomeni, danabavno vrednost zmanjša za amortizacijski popravek vrednosti innabrano izgubo zaradi oslabitve. Amortizacija se izraËuna z uporabometode enakomernega Ëasovnega amortiziranja. ZemljišËa insredstva v izgradnji se ne amortizirajo.Dobe koristnosti sredstev so razkrite v spodnji tabeli:31. 12. 2007 31. 12. 2006Vlaganje v tuje objekte 10 let 10 letRaËunalniška oprema 4 leta 4 letaPohištvo, naprave in motornavozilaNeopredmetena osnovnasredstva - programska oprema4-10 let 8-10 let5 let 5 letDoba koristnosti sredstev se redno preverja ter po potrebi podaljšaamortizacijska doba. Vlaganja v zakupljene objekte/sredstva seamortizirajo v dobi, ki je krajša, pri Ëemer se primerjata dobanjihove uporabe in preostala doba njihovega zakupa na podlagimetode enakomernega Ëasovnega amortiziranja. Popravila in obnovemanjšega obsega se izkažejo v izkazu poslovnega izida.Banka obËasno preverja vrednost svojih opredmetenih osnovnih in60 2007 Letno poroËilo · UniCredit Bank


neopredmetenih dolgoroËnih sredstev, da bi prepoznala, ali utegnejobiti oslabljena. Kadar in zgolj kadar je nadomestljiva vrednost sredstvamanjša od njegove knjigovodske vrednosti, banka zmanjša knjigovodskovrednost na njegovo nadomestljivo vrednost. Takšno zmanjšanje jeizguba zaradi oslabitve.Razveljavitev izgube zaradi oslabitve sredstva se takoj pripozna kotprihodek v izkazu poslovnega izida.Pripoznanje knjigovodske vrednosti posameznega sredstva se odpraviob odtujitvi ali Ëe od njegove uporabe ali odtujitve ni veË priËakovatiprihodnjih gospodarskih koristi. DobiËki ali izgube, ki izhajajo iz odpravepripoznanja sredstva, se vkljuËijo v poslovni izid, ko se pripoznanjesredstva odpravi. DobiËki ali izgube, ki izhajajo iz odprave pripoznanjaposameznega sredstva, se izraËunajo na podlagi razlike med Ëistimdonosom ob odtujitvi, Ëe obstaja, in knjigovodsko vrednostjo sredstva.Druga sredstvaDruga sredstva sestavljajo Ëasovne razmejitve, provizije in drugiodhodki, druga sredstva, namenjena za prodajo, in podobna sredstva,ki niso izkazana v drugih postavkah. Sredstva, namenjena za prodajo,so izkazana po pošteni vrednosti.Finan»ne obveznostiBanka pripozna finanËne obveznosti po pošteni vrednosti. PozaËetnem pripoznanju jih izmeri po odplaËni vrednosti z uporabometode veljavnih obresti.Banka doslej še ni pripoznala finanËnih obveznosti po poštenivrednosti skozi poslovni izid.Postavka finanËne obveznosti, namenjene trgovanju, izkazujenegativno tržno vrednost izpeljanih finanËnih instrumentov.RezervacijeRezervacija se pripozna, Ëe ima banka zaradi preteklega dogodkasedanjo obvezo, Ëe je verjetno, da bo pri poravnavi obveze potrebendotok dejavnikov, ki omogoËajo gospodarske koristi, in Ëe je mogoËezanesljivo oceniti znesek obveze.Rezervacije se oblikujejo za:• potencialne izgube v zvezi s tveganji, ki izhajajo iz zunajbilanËnihpostavk,• jubilejne nagrade in odpravnine,• potencialne izgube v zvezi s pravdnimi spori, v katerih je bankaudeležena oziroma obstaja nevarnost, da bo udeležena.Izkaz finan»nega izida (finan»nih tokov)Pri poroËanju o finanËnih tokovih so denarna sredstva opredeljenakot denar v blagajni in na transakcijskih raËunih pri bankah, vkljuËnoz obveznimi rezervami pri Banki Slovenije. Denarni ustrezniki soopredeljeni kot kratkoroËne hitro unovËljive naložbe, ki so takojpretvorljive v znane zneske denarnih sredstev in pri katerih jetveganje spremembe vrednosti nepomembno. VkljuËujejo finanËnasredstva v posesti za trgovanje, za prodajo razpoložljiva finanËnasredstva in finanËne naložbe v posesti do zapadlosti v plaËilo.Zaslužki zaposlenCEVBanka svojim zaposlenim izplaËuje jubilejne nagrade in odpravnine.Zaposleni so upraviËeni do jubilejnih nagrad, Ëe so v bankineprekinjeno zaposleni doloËeno Ëasovno obdobje. UpraviËenci doodpravnin pa so tisti zaposleni, ki se upokojijo in so bili pred tem vbanki zaposleni doloËeno minimalno Ëasovno obdobje.Sedanjo vrednost obvez za izplaËilo jubilejnih nagrad in odpravninje izraËunal za to usposobljen aktuar z uporabo metode predvidenepomembnosti enot. KljuËne aktuarske predpostavke, uporabljene priizraËunu sedanje vrednosti omenjenih obvez, so naslednje:••••diskontna mera - kot diskontna mera so uporabljeni na danbilance stanja znani tržni donosi visoko kvalitetnih obveznic,katerih izdajatelji so družbe iz evroobmoËja,ocenjeno poveËanje prihodnjih plaË,ocenjeno poveËanje jubilejnih nagrad,stopnje smrtnosti - tabela smrtnosti v Sloveniji v letih 2000 -2002,fluktuacija zaposlenih na podlagi zabeleženih podatkov ozaposlenih v banki v prejšnjih letih,starost ob upokojitvi: 58 let za ženske in 60 let za moške,tekoËi podatki o zaposlenih v banki (trajanje zaposlitve, starost,spol, povpreËni zaslužki),povpreËna meseËna plaËa v Republiki Sloveniji,v primeru, da je na dan, za katerega je narejen izraËun, zgorajnavedena starost ob upokojitvi že dosežena ali presežena, sepredpostavlja upokojitev Ëez 6 mesecev.•••••Znesek obvez, ki izhajajo iz jubilejnih nagrad in odpravninzaposlenim, je pripoznan kot sedanja vrednost priËakovanihprihodnjih plaËil. Aktuarski dobiËki in izgube so pripoznani vposlovnem izidu.Aktuarski dobiËki in izgube, ki izvirajo iz izkustvene prilagoditve iniz uËinkov sprememb aktuarskih predpostavk ter presegajo 10 %sedanje vrednosti obveze za doloËene zaslužke in 10 % poštenevrednosti kakršnih koli sredstev programa, se pripoznajo v izkazuUniCredit Bank · 2007 Letno poroËilo61


RaËunovodski izkaziPovzetek raËunovodskih usmeritevposlovnega izida postopno v priËakovani povpreËni preostali delovnidobi zaposlenih.Banka je v letu 2007 prviË pripoznala stroške zaslužkov v oblikiplaËane odsotnosti iz naslova neizkorišËenih dopustov.Banka poleg navedenih nagrad in odpravnin svojim zaposlenimizplaËuje tudi nekatere druge zaslužke, kot so prispevki zapokojninsko zavarovanje. Ta izplaËila so priznana kot odhodki vposlovnem izidu tekoËega obdobja.Delniški kapitalDelniški kapital je sestavljen iz vplaËanega kapitala, t. j. kapitala, kiso ga dali delniËarji na razpolago banki (osnovni kapital in kapitalskerezerve), ter zadržanega Ëistega dobiËka (presežki iz prevrednotenjapri poslih z vrednostnimi papirji, razpoložljivimi za prodajo, invarovanje denarnih tokov, rezerve iz dobiËka, zadržani dobiËki in ËistidobiËek tekoËega leta).Dobi»ek na delnicoBanka je predstavila dobiËek na delnico za svoje navadne (vse)delnice. DobiËek na delnico je izraËunan kot kvocient med dobiËkomali izgubo ter povpreËnim številom delnic v obdobju.Banka nima prednostih delnic ali drugih zamenljivih instrumentov,zato je popravljen Ëisti dobiËek na delnico enak izraËunanemudobiËku na delnico.Pogojne obveznosti in prevzetefinan»ne obveznostiPrevzete finanËne obveznosti za jamstva (garancije), tako finanËnakot storitvena, predstavljajo nepreklicne obveze banke za plaËila, Ëekomitent banke ne izpolni svojih obveznosti do tretjih oseb.Listinski akreditivi so nepreklicne pogojne obveznosti banke, kina zahtevo stranke (kupca) izvrši ali sprejme plaËilo upraviËenca(prodajalca), ali plaËa ali sprejme menice, ki jih je dvignilupraviËenec ob predložitvi predpisanih dokumentov, skladno zizpolnjenimi zahtevami izdanega akreditiva. Listinski akreditivi sozavarovani, podobno kot posojila oz. prevzete finanËne obveznosti zajamstva, glede na kreditno sposobnost in uspešnost posojilojemalca.Osnovni namen prevzetih in nepreklicnih obveznosti iz odobrenihposojil je, skladno s sklenjenim dogovorom, zagotovitev sredstevkomitentu banke. Prevzete in nepreklicne obveznosti iz odobrenih posojilsestavljajo neËrpana sredstva iz odobrenih posojil in neporabljeni,odobreni limiti na transakcijskih raËunih komitentov banke.Tveganja, povezana s pogojnimi obveznostmi in prevzetimifinanËnimi obvezami, se ocenjujejo podobno kot tveganja priodobrenih posojilih, pri Ëemer so upoštevani kreditna sposobnostin uspešnost posojilojemalca ter vrednosti prejetih zavarovanj ingarancij tretjih strank.Obrestni prihodki in odhodkiV izkazu poslovnega izida se obrestni prihodki in odhodki pripoznajov ustreznem obdobju po metodi veljavnih obresti. Ker banka šeni uvedla ustrezne programske rešitve za pripoznavanje provizijza posojila pravnim osebam po metodi veljavnih obresti, so le-telinearno razmejene.»e se posojila oslabijo do višine njihove nadomestljive vrednosti, seobrestni prihodki oslabljenih posojil pripoznavajo v diskontiranemznesku. Za izraËun se uporabi enaka veljavna obrestna mera kot zaoceno nadomestljive vrednosti oslabljenega posojila.Prihodki in odhodki iz provizijPrejete in dane provizije se obiËajno pripoznajo na dan zakljuËkaizvedene transakcije.Provizije iz transakcij z izpeljanimi finanËnimi instrumenti sepripoznajo na osnovi doloËil sklenjenih pogodb.Obdav»enjeDavki se izraËunavajo v skladu s predpisi o davku od dohodkovpravnih oseb. Na splošno obdavËljiv dobiËek temelji na dobiËku aliizgubi, pripoznani v izkazu poslovnega izida, ki je pripravljen v skladuz MSRP. Prilagojen je v skladu z davËnimi predpisi.Odhodek za davek (prihodek od davka) obsega odmerjeni odhodek zadavek (odmerjeni prihodek od davka) in odloženi odhodek za davek(odloženi prihodek od davka).Trenutna davËna stopnja za davek od dobiËka pravnih oseb je 23 %(za leto 2006 25 %). Za odložene davke je bila uporabljena stopnja22 % (za leto 2006 23 %), ki predstavlja stopnjo davka od dohodkovpravnih oseb za leto 2008.Odloženi davki so namenjeni pokrivanju zaËasne razlike, kinastane med davËno vrednostjo sredstev in obveznosti ter njihovoknjigovodsko vrednostjo v bilanci stanja (Pojasnili 10 in 15).Odložene obveznosti za davek so zneski davka iz dobiËka, ki jih botreba poravnati v prihodnjih obdobjih glede na obdavËljive zaËasnerazlike.62 2007 Letno poroËilo · UniCredit Bank


Odložene terjatve za davek so zneski davka iz dobiËka, ki bodopovrnjeni v prihodnjih obdobjih glede na odbitne zaËasne razlike,prenos neizrabljenih davËnih izgub v naslednja obdobja in prenosneizrabljenih davËnih dobropisov v naslednja obdobja.Banka mora plaËevati razliËne posredne davke iz poslovanja. Ti sovkljuËeni kot sestavina administrativnih stroπkov.Poslovanje po pooblastilihSredstva, ki jih banka upravlja kot pooblašËenec, zaupnik aliposrednik, niso sredstva banke in kot taka niso vkljuËena v teraËunovodske izkaze.Poro»anje po odsekihBanka se ni odloËila, da bi razkrila raËunovodske informacije poodsekih, ker se z njenimi delnicami javno ne trguje ter ne izdajalastniških ali dolžniških vrednostnih papirjev na javnih trgih. Polegtega so bankine informacije po odsekih predstavljene v okviruskupinskih raËunovodskih izkazov Bank Austria Creditanstalt AG Dunaj.Regulatorne zahteveZa banko veljajo regulatorne zahteve Banke Slovenije. Ti predpisivkljuËujejo limite in druge omejitve, ki se nanašajo na zahteveza minimalno kapitalsko ustreznost, klasifikacijo posojil inzunajbilanËnih obveznosti in rezervacij za kritje kreditnega tveganja,likvidnosti, obrestnih in deviznih pozicij. 31. decembra 2007 sta bilabanka in njeno poslovanje v vseh pomembnih pogledih usklajena zzakonodajnimi zahtevami.Povezane osebePovezane osebe so podjetja, ki neposredno ali posredno prek enegaali veË posrednikov obvladujejo ali jih obvladujejo druga podjetja,ali pa so pod skupnim upravljanjem poroËajoËega podjetja; kljuËnovodstveno osebje, torej posamezniki, ki imajo izvršilno moË inodgovornost na podroËjih naËrtovanja, usmerjanja in nadziranjadejavnosti Skupine, vkljuËno s Ëlani uprave in vodilnimi funkcionarjibanke ter njihovimi ožjimi družinskimi Ëlani; in podjetja, v katerihima neposredno ali posredno bistven delež pri glasovanju kakšenposameznik, opisan zgoraj, ali na katerega tak posameznik lahkopomembno vpliva. Sem spadajo podjetja v lasti Ëlanov uprave aliglavnih delniËarjev banke in podjetja, ki imajo z banko kakšnegaskupnega kljuËnega Ëlana vodstva.Pri prouËevanju vseh možnih oblik povezav med strankami jepozornost namenjena zlasti vsebini povezave in ne le pravni obliki.UniCredit Bank · 2007 Letno poroËilo63


RaËunovodski izkaziPojasnila k raËunovodskim izkazomPojasnila k bilanci stanjaPojasnilo 1:Denar v blagajni in stanje na raËunihpri centralni bankiEUR 1.000 31. 12. 2007 31. 12. 2006Denar v blagajni 9.224 6.512Stanja pri centralni banki 18.529 12.035Obvezne rezerve pri centralni banki 18.529 5.776Druga sredstva pri centralni banki - 6.259Skupaj 27.753 18.547ECB zahteva, da kreditne ustanove, ustanovljene na evroobmoËju,polagajo depozite na raËune, odprte pri nacionalni centralni banki.Imenujejo se ››minimalne« ali ››obvezne« rezerve. Koeficient rezervje 2 % za depozite prek noËi, depozite z dogovorjeno zapadlostjoali odpovednim rokom do dveh let, dolžniške vrednostne papirjez zapadlostjo do dveh let in naložbe na trgu denarja. Obveznostido bank in centralnih bank v evro obmoËju ter obveznosti do ECBni potrebno vkljuËevati v sistem izpolnjevanja obveznih rezervEvrosistema.Pavšalno nadomestilo je 100.000 evrov. Minimalni izraËunani znesekobvezne rezerve na dan 31. oktober 2007 znaša 12.313 tisoË evrov.Banka mora izpolniti zahteve v obdobju od 12. decembra 2007 do15. januarja 2008.Pojasnilo 2:FinanËna sredstva, namenjena trgovanjuEUR 1.000 31. 12. 2007 31. 12. 2006Dolžniški vrednostni papirji 135.007 93.290Blagajniški zapisi, Republika Slovenija - 3.656Obveznice, Republika Slovenija 100.717 74.665Obveznice, banke 30.069 14.969Obveznice, podjetja 4.221 -Pozitivno vrednotenje izvedenih finanËnihinstrumentov54.256 24.129Terminske pogodbe (Forward) 1.532 230Opcije (Option) 27.602 7.223Zamenjave (Swap) 25.122 16.677Skupaj 189.263 117.419FinanËni instrumenti, namenjeni trgovanju, so prikazani po poštenivrednosti. S pripoznanjem sredstev na datum plaËila v letu 2007,bi bila vrednost finanËnih sredstev, namenjenih trgovanju višja za1.957 tisoË evrov. Ostala sredstva, predstavljena v pojasnilu 11,bi bila manjša za enak znesek.Obveznice se vrednotijo po tržni vrednosti na podlagi notranjegamodela. Valutni terminski posli se vrednotijo po tržni vrednosti napodlagi Wall Street-a. Za izraËun neto sedanje vrednosti obrestnihizvedenih instrumentov se uporablja sistem vrednotenja OPUS, zaizraËun poštene vrednosti valutnih opcij pa Wall Street. Poštenavrednost izvedenih finanËnih instrumentov na lastniške vrednostnepapirje ter blagovnih izvedenih finanËnih instrumentov temelji navrednotenju, ki ga posreduje HVB München.64 2007 Letno poroËilo · UniCredit Bank


Dolžniški vrednostni papirjiEUR 1.000 31. 12. 2007 31. 12. 2006Borzni trg 130.786 93.290Blagajniški zapisi, Republika Slovenija - 3.656Obveznice, Republika Slovenija 100.717 74.665Obveznice, banke 30.069 14.969Prosti trg 4.221 -Obveznice, podjetja 4.221 -Skupaj 135.007 93.290EUR 1.000 2007 2006Stanje na dan 1. 1. 93.290 60.645PoveËanje 240.421 317.837Nakup 240.125 317.394Pozitivno vrednotenje 296 443Zmanjšanje (198.704) (285.192)Prodaja/unovËenje (195.900) (284.409)Negativno vrednotenje (2.804) (783)Stanje na dan 31. 12. 135.007 93.290Pojasnilo 3:FinanËna sredstva, pripoznana po poštenivrednosti skozi izkaz poslovnega izidaEUR 1.000 31. 12. 2007 31. 12. 2006Krediti 20.444 30.359Skupaj 20.444 30.359EUR 1.000 2007 2006Stanje na dan 1. 1. 30.359 28.963PoveËanje 1.178 4.182Novi krediti 1.137 4.182Pozitivno vrednotenje 41 -Zmanjšanje (11.093) (2.786)Prodaja/unovËenje (11.055) (2.077)Negativno vrednotenje - (660)TeËajne razlike (38) (49)Stanje na dan 31. 12. 20.444 30.359Krediti strankam, ki niso banke, se primerjajo z obrestno zamenjavokot del strategije za upravljanje obrestnega tveganja. Do neujemanjapri izraËunu bi prišlo, Ëe bi kredite merili po odplaËni vrednosti, saj soizvedeni finanËni instrumenti, ki so povezani z njimi, merjeni po poštenivrednosti s premiki v pošteni vrednosti v izkazu poslovnega izida.Pri doloËanju poštene vrednosti kreditom se sprememba v poštenivrednosti dolgoroËnega dolga poroËa v izkazu poslovnega izida.Pojasnilo 4:FinanËna sredstva, razpoložljiva za prodajoEUR 1.000 31. 12. 2007 31. 12. 2006Delnice in deleži 350 400Obveznice, Republika Slovenija 62.529 103.962Obveznice, banke 32.890 39.082Obveznice, podjetja 19.608 14.415Skupaj 115.377 157.859UniCredit Bank · 2007 Letno poroËilo65


RaËunovodski izkaziPojasnila k raËunovodskim izkazomEUR 1.000 31. 12. 2007 31. 12. 2006Borzni trg 95.419 143.044Obveznice, Republika Slovenija 62.529 103.962Obveznice, banke 32.890 39.082Prosti trg 19.958 14.815Delnice in deleži 350 400Obveznice, podjetja 19.608 14.415Skupaj 115.377 157.859Delnice in deležiEUR 1.000 2007 2006Stanje na dan 1. 1. 400 629PoveËanje 1 401Nakup - -Pozitivno vrednotenje in tecajne razlike 1 401Zmanjšanje (51) (630)Prodaja (9) (544)Negativno vrednotenje (42) (86)Stanje na dan 31. 12. 350 400Dolžniški vrednostni papirjiEUR 1.000 2007 2006Stanje na dan 1. 1. 157.458 95.332PoveËanje 11.719 79.272Nakup 11.690 53.888Pozitivno vrednotenje 29 25.250Tecajne razlike - 134Zmanjšanje (54.150) (17.145)Prodaja/unovËenje (53.306) (14.474)Negativno vrednotenje (844) (2.672)Stanje na dan 31. 12. 115.027 157.458Delnice in deleži, razpoložljivi za prodajo, so prikazani po nakupnivrednosti oziroma po tržni vrednosti, Ëe je tržna vrednost manjša.Pojasnilo 5:Izvedeni finanËni instrumenti, namenjenivarovanju, sredstva in obveznostiSredstvaEUR 1.000 31. 12. 2007 31. 12. 2006Varovanje denarnih tokov pred tveganjem 1.818 863Skupaj 1.818 863EUR 1.000 2007 2006Stanje na dan 1. 1. 863 -PoveËanje 3.453 863Obresti 2.034 602Pozitivno vrednotenje 1.419 261Zmanjšanje (2.499) -Obresti (2.499) -Stanje na dan 31. 12. 1.818 863ObveznostiEUR 1.000 31. 12. 2007 31. 12. 2006Varovanje denarnih tokov pred tveganjem 91 667Skupaj 91 667EUR 1.000 2007 2006Stanje na dan 1. 1. 667 -PoveËanje 113 667Obresti 31 660Pozitivno vrednotenje 82 7Zmanjšanje (689) -Obresti (689) -Stanje na dan 31. 12. 91 667Dolžniški vrednostni papirji, razpoložljivi za prodajo, imajo kupone sfiksno obrestno mero.66 2007 Letno poroËilo · UniCredit Bank


Neto izvedeni finanËni instrumenti namenjeni varovanjuEUR 1.000 31. 12. 2007 31. 12. 2006Varovanje denarnih tokov pred tveganjem 1.727 196Skupaj 1.727 196Izvedeni finanËni instrumenti, namenjeni varovanju, predstavljajovarovanje denarnih tokov - makro varovanje izbranega portfelja.UËinkovitost varovanja denarnih tokov je opisana v poglavju ›› BanËnatveganja«.Pojasnilo 6:KreditiKrediti bankamEUR 1.000 31. 12. 2007 31. 12. 2006Vloge na vpogled 8.394 211.463KratkoroËni krediti 83.991 29.057DolgoroËni krediti 55.778 138.261Skupaj 148.163 378.781EUR 1.000 2007 2006Stanje na dan 1. 1. 378.781 331.010PoveËanje 37.290.945 54.038.854Novi krediti 37.284.265 54.029.916Pozitivno vrednotenje in teËajne razlike 6.680 8.938Zmanjšanje (37.521.563) (53.991.083)PoplaËila (37.512.039) (53.980.079)Negativno vrednotenje in teËajne razlike (9.524) (11.004)Stanje na dan 31. 12. 148.163 378.781UniCredit Bank · 2007 Letno poroËilo67


RaËunovodski izkaziPojasnila k raËunovodskim izkazomKrediti strankamEUR 1.000 31. 12. 2007 31. 12. 2006Bruto vrednost Oslabitve Neto vrednost Bruto vrednost Oslabitve Neto vrednostKratkoroËni 279.058 (3.668) 275.391 263.791 (2.504) 261.287Podjetja 241.714 (3.396) 238.318 217.958 (2.359) 215.600FinanËne institucije 19.838 (1) 19.837 22.729 - 22.729Javni sektor 150 - 150 1.948 - 1.948Prebivalstvo 12.465 (271) 12.194 11.163 (146) 11.018Tuji rezidenti 4.892 - 4.892 9.993 - 9.993DolgoroËni 1.332.347 (12.513) 1.319.834 1.014.973 (9.639) 1.005.334Podjetja 755.145 (7.724) 747.421 611.349 (5.793) 605.556FinanËne institucije 64.187 - 64.187 29.246 (2) 29.244Javni sektor 22.654 - 22.654 29.093 - 29.093Prebivalstvo 427.611 (4.602) 423.009 310.411 (3.844) 306.566Tuji rezidenti 62.750 (187) 62.563 34.874 - 34.874Skupaj 1.611.406 (16.181) 1.595.225 1.278.764 (12.144) 1.266.621EUR 1.000 2007 2006Stanje na dan 1. 1. 1.266.621 1.006.969PoveËanje 2.426.916 1.695.653Novi krediti 2.342.463 1.663.915Pozitivno vrednotenje in teËajne razlike 84.453 31.738Zmanjšanje (2.098.312) (1.436.001)PoplaËila (2.000.770) (1.397.956)Oslabitve (4.037) 861Direktni odpisi (160) (88)Negativno vrednotenje in teËajne razlike (93.345) (38.818)Stanje na dan 31. 12. 1.595.225 1.266.621Oslabitve, krediti strankamEUR 1.000 2007 2006Stanje na dan 1. 1. 12.144 13.177Uskladitev izkljuËenih prihodkov - (927)PoveËanje 10.734 16.653Zmanjšanje (6.697) (16.759)Zmanjšanje (6.697) (12.310)Poraba - (4.449)Stanje na dan 31. 12. 16.181 12.144Krediti podjetjem vkljuËujejo kredite samostojnim podjetnikom.Stanje kreditov zaposlenim na dan 31. 12. 2007 znaša 12.343 tisoËevrov, na dan 31. 12. 2006 pa je znašalo 11.157 tisoË evrov. Znesekne vkljuËuje kreditov upravi, ki so navedeni v pojasnilu ››Povezanestranke«.Pojasnilo 7:FinanËna sredstva v posesti do zapadlostiEUR 1.000 31. 12. 2007 31. 12. 2006Blagajniški zapisi, Banka Slovenija - 188.414Skupaj - 188.414EUR 1.000 2007 2006Stanje na dan 1. 1. 188.414 318.572PoveËanje 682 1.372.540Nakup 682 1.372.410TeËajne razlike - 130Zmanjšanje (189.096) (1.502.698)Prodaja/unovËenje (189.096) (1.502.698)Stanje na dan 31. 12. - 188.41468 2007 Letno poroËilo · UniCredit Bank


Pojasnilo 8:Opredmetena osnovna sredstva2007Nabavna vrednostEUR 1.000Vlaganja v tujeobjekte RaËunalniška oprema Druga oprema Oprema v pripravi SkupajStanje na dan 1. 1. 5.333 4.626 3.571 66 13.596PoveËanje 298 - - 1.008 1.306Prenos iz opreme v pripravi - 997 792 (1.790) -IzloËitev (3) (1.311) (490) - (1.805)Stanje na dan 31. 12. 5.628 4.312 3.873 (716) 13.098Amortizacijski popravek vrednostiStanje na dan 1. 1. 2.056 3.182 1.554 - 6.791PoveËanje - - - - -Amortizacija za leto (577) (582) (456) - (1.615)IzloËitev 3 1.307 440 - 1.750Stanje na dan 31. 12. 2.630 2.456 1.569 - 6.656»ista knjigovodska vrednostStanje na dan 1. 1. 3.278 1.444 2.018 66 6.805Stanje na dan 31. 12. 2.998 1.856 2.304 (716) 6.4422006Nabavna vrednostEUR 1.000Vlaganja v tujeobjekte RaËunalniška oprema Druga oprema Oprema v pripravi SkupajStanje na dan 1. 1. 4.885 4.202 3.111 39 12.237PoveËanje 448 - - 1.817 2.265Prenos iz opreme v pripravi - 997 792 (1.790) -IzloËitev - (573) (332) - (905)Stanje na dan 31. 12. 5.333 4.626 3.571 66 13.597Amortizacijski popravek vrednostiStanje na dan 1. 1. 1.516 3.012 1.524 - 6.052PoveËanje - - - - -Amortizacija za leto (540) (737) (314) - (1.591)IzloËitev - 568 283 - 851Stanje na dan 31. 12. 2.056 3.182 1.554 - 6.792»ista knjigovodska vrednostStanje na dan 1. 1. 3.370 1.189 1.587 39 6.185Stanje na dan 31. 12. 3.278 1.444 2.017 66 6.805Banka je poveËala limit za neposredno pripoznanje drobnega inventarja v izkazu poslovnega izida s 100 evrov na 400 evrov. Sredstva do tegazneska, ki je bil prej pripoznan v bilanci stanja, so bila odpisana kot amortizacija. PoslediËno je bila amortizacija višja za 31 tisoË evrov.Zaradi spremembe dobe koristnosti za motorna vozila in opreme za hrambo denarja je vrednost osnovnih sredstev v letu 2007 nižja za 59 tisoËevrov. Za enak znesek so višji stroški amortizacije.UniCredit Bank · 2007 Letno poroËilo69


RaËunovodski izkaziPojasnila k raËunovodskim izkazomPojasnilo 9:Neopredmetena sredstvaNabavna vrednostEUR 1.000 2007 2006Stanje na dan 1. 1. 18.220 16.640PoveËanje 1.877 2.300Prenos iz opreme v pripravi - (311)IzloËitev - (410)Stanje na dan 31. 12. 20.096 18.220Amortizacijski popravek vrednostiStanje na dan 1. 1. 11.497 10.579Amortizacija za leto 1.550 1.329IzloËitev - (410)Stanje na dan 31. 12. 13.047 11.497»ista knjigovodska vrednostStanje na dan 1. 1. 6.722 6.061Stanje na dan 31. 12. 7.049 6.722Neopredmetena osnovna sredstva vkljuËujejo le programsko opremo.Pojasnilo 10:Terjatve za davek od dohodkov pravnih osebEUR 1.000 31. 12. 2007 31. 12. 2006Terjatve za davek 4.753 766Odložene terjatve za davek 3.482 4.163Sredstva/obveznosti namenjenatrgovanju 2.690 3.868Krediti bankam in strankam, ki nisobanke 167 146FinanËna sredstva, razpoložljiva zaprodajo 30 89Presežek iz prevredotenja za finanËnasredstva, razpoložljiva za prodajo 492 -Opredmetena in neopredmetenaosnovna sredstva 37 -Rezervacije za pokojnine in podobneobveznosti 66 60Skupaj 8.235 4.929Odložene terjatve za davek, pripoznane v kapitalu, znašajo31. decembra 2007 492 tisoË evrov (31. decembra 2006 je vrednost0). Odložene obveznosti za davek, predstavljene v pojasnilu 14,znašajo 31. decembra 2007 350 tisoË evrov (31. decembra 2006126 tisoË evrov). Skupen uËinek davkov, pripoznanih v kapitalu znaša268 tisoË evrov. Ostale spremembe iz naslova odloženih terjatevoziroma obveznosti za davke so pripoznane v izkazu poslovnega izidain znašajo 1.013 tisoË evrov.Odložene terjatve za davekEUR 1.000 2007 2006Stanje na dan 1. 1. 4.163 377PoveËanje 644 4.147Zmanjšanje (1.325) (361)Stanje na dan 31. 12. 3.482 4.16370 2007 Letno poroËilo · UniCredit Bank


Pojasnilo 11:Druga sredstvaEUR 1.000 31. 12. 2007 31. 12. 2006Terjatve do tujih bank 5.728 1Terjatve do strank, ki niso banke 1.507 1.375Aktivne Ëasovne razmejitve 4.505 1.656Sredstva, namenjena prodaji 1.920 2.030Ostale terjatve 731 5.871Terjatve za provizije (opravnine) 510 549PredplaËila 60 15Oslabitve provizij (opravnin) (11) (14)Oslabitve ostalih sredstev (2.181) (1.573)Druga sredstva 155 62Skupaj 12.924 9.972Pojasnilo 12:FinanËne obveznosti, namenjene trgovanjuNegativno vrednotenje izvedenihfinanËnih instrumentovEUR 1.000 31. 12. 2007 31. 12. 200650.360 23.182Terminske pogodbe (Forward) 765 1.219Opcije (Option) 27.526 7.223Zamenjave (Swap) 22.069 14.740Ostale finanËne obveznosti, namenjenetrgovanju85 -Skupaj 50.445 23.182Pojasnilo 13:FinanËne obveznosti, merjene po odplaËnivrednostiVloge bankEUR 1.000 31. 12. 2007 31. 12. 2006Na vpogled 4.255 16.951KratkoroËne vloge 84.652 311.850DolgoroËne vloge 859.192 800.511Skupaj 948.099 1.129.312EUR 1.000 2007 2006Stanje na dan 1. 1. 1.129.312 787.251PoveËanje 5.201.599 29.648.566Nove vloge 5.171.675 29.644.408Pozitivno vrednotenje in teËajne razlike 29.924 4.158Zmanjšanje (5.382.812) (29.306.505)VraËila vlog (5.350.830) (29.301.775)Negativno vrednotenje in teËajne razlike (31.982) (4.730)Stanje na dan 31. 12. 948.099 1.129.312Krediti bankEUR 1.000 31. 12. 2007 31. 12. 2006KratkoroËni krediti 17.539 6.748DolgoroËni krediti 217.073 269.679Skupaj 234.612 276.427UniCredit Bank · 2007 Letno poroËilo71


RaËunovodski izkaziPojasnila k raËunovodskim izkazomEUR 1.000 2007 2006Stanje na dan 1. 1. 276.427 315.164PoveËanje 1.306.796 1.945.344Novi krediti 1.262.015 1.921.395Pozitivno vrednotenje in teËajne razlike 44.781 23.949Zmanjšanje (1.348.611) (1.984.081)VraËila kreditov (1.298.213) (1.954.516)Negativno vrednotenje in teËajne razlike (50.398) (29.565)Stanje na dan 31. 12. 234.612 276.427Vloge in krediti bank imajo spremenljivo obrestno mero.Vloge strankEUR 1.000 31. 12. 2007 31. 12. 2006Na vpogled 309.220 225.918Podjetja 119.961 119.496EUR 1.000 2007 2006Stanje na dan 1. 1. 594.162 627.164PoveËanje 31.878.354 21.848.288Nove vloge 31.863.124 21.837.407Pozitivno vrednotenje in teËajne razlike 15.230 10.881Zmanjšanje (31.750.977) (21.881.290)VraËila vlog (31.732.582) (21.868.152)Negativno vrednotenje in teËajne razlike (18.395) (13.138)Stanje na dan 31. 12. 721.539 594.162Vloge strank, ki niso banke, imajo spremenljivo oziroma fiksnoobrestno mero.Med vlogami strank so vkljuËene vloge v višini 708 tisoË evrov(2006 2.106 tisoË evrov), ki so namenjene kreditnemu zavarovanjuza nepreklicne obveznosti za akreditive. Poštena vrednost teh kreditovustreza knjigovodski vrednosti.FinanËne institucije 3.519 2.384Javni sektor 7.103 7.301Prebivalstvo 81.482 81.693Tuji rezidenti 97.155 15.044KratkoroËne vloge 330.081 313.465Podjetja 178.264 165.410FinanËne institucije 26.244 13.342Javni sektor 6.180 6.071Prebivalstvo 108.980 122.610Tuji rezidenti 10.413 6.032DolgoroËne vloge 82.238 54.780Podjetja 9.407 28.042FinanËne institucije 5.140 4.023Javni sektor 1.656 376Prebivalstvo 60.847 18.320Tuji rezidenti 5.188 4.018Skupaj 721.539 594.162Pojasnilo 14:RezervacijeEUR 1.000 31. 12. 2007 31. 12. 2006Za pravno nerešene tožbe 13 2Za pokojnine in podobne obveznosti 626 556Za operativna tveganja - pranje denarja 14 -Za zunajbilanËne obveznosti 418 871Skupaj 1.071 1.4292007EUR 1.000Stanje na dan1. 1.ZapravnonerešenetožbeZapokojnineinpodobneobveznostiZaoperativnatveganja- pranjedenarjaZa zunajbilanËneobveznostiSkupaj2 556 - 871 1.429PoveËanje 11 80 14 751 856Zmanjšanje - (10) - (1.204) (1.214)Poraba rezervacij - (10) - - (10)Drugazmanjšanja v letuStanje na dan31. 12.- - - (1.204) (1.204)13 626 14 418 1.07172 2007 Letno poroËilo · UniCredit Bank


2006EUR 1.000ZapravnonerešenetožbeZapokojnineinpodobneobveznostiZaoperativnatveganja- pranjedenarjaZa zunajbilanËneobveznostiSkupajPojasnilo 16:Druge obveznostiEUR 1.000 31. 12. 2007 31. 12. 2006Stanje na dan1. 1.108 478 - 305 891PoveËanje - 103 - 1.273 1.376Zmanjšanje 106 25 - 707 838Poraba rezervacij 105 - - - 105Drugazmanjšanja v letuStanje na dan31. 12.1 25 - 707 7332 556 - 871 1.429Rezervacije za zaslužke zaposlenih predstavljajo aktuarske raËuneza jubilejne nagrade in odpravnine. Aktuarske predpostavke sopojasnjene v povzetku pomembnih raËunovodskih usmeritev››Zaslužki zaposlenih«.Obveznosti v obraËunu iz poslovnihrazmerij2.503 1.482Pasivne Ëasovne razmejitve 2.444 1.381Obveznosti do domaËih dobaviteljev 1.171 655Bruto plaËe 922 841Obveznosti v obraËunu iz poslov sprebivalstvom612 252Davki in prispevki 266 339Obveznosti do tujih dobaviteljev 194 224Obveznosti za zaËasna vplaËila kot vlogeza ustanovitev mešanih družb- 159Obveznosti za provizije (opravnine) 70 34Druge obveznosti 2.124 773Skupaj 10.306 6.140Pojasnilo 15:Obveznosti za davek od dohodkovpravnih osebEUR 1.000 31. 12. 2007 31. 12. 2006Obveznosti za davek - 6.253Odložene obveznosti za davek 2.915 2.851Sredstva/obveznosti namenjenatrgovanjuKrediti bankam in strankam, ki nisobankeFinanËna sredstva, razpoložljiva zaprodajoPresežek iz prevredotenja za finanËnasredstva, razpoložljiva za prodajoPresežek iz prevredotenja za finanËnasredstva, varovanje denarnih tokov86 -59 -124 -- 66350 60Druga sredstva/obveznosti 2.296 2.725Skupaj 2.915 9.104Bruto plaËe vkljuËujejo obveznosti za plaËilne transakcije z delnicamiv višini 39 tisoË evrov.Pojasnilo 17:Osnovni kapitalEUR 1.000 31. 12. 2007 31. 12. 2006 %Navadne delnice - podjetja - - 0,00Navadne delnice - prebivalstvo 2 2 0,01Navadne delnice - tuje banke 16.256 16.268 99,99Skupaj 16.258 16.270 100,00Osnovni kapital banke na dan 31. 12. 2007 znaša 16.258.321,26evrov in je razdeljen na 3.898.878 navadnih imenskih kosovnihdelnic. Razlika iz preraËuna nominalnih zneskov delnic iz osnovnegakapitala v evro, ki znaša 11.408 evrov, se prerazporedi v kapitalskerezerve. Vse delnice so vplaËane. Imetniki navadnih delnic soupraviËeni do prejemanja dividend ob njihovi objavi in imajo pravicodo glasovanja za delnico. Vse delnice so enakovredne z ozirom napreostala sredstva banke. Banka za leto 2007 in 2006 ni izplaËaladividend. DobiËek na delnico na dan 31. 12. 2007 naša 3,89 evrov(2006 2,80 evrov).UniCredit Bank · 2007 Letno poroËilo73


RaËunovodski izkaziPojasnila k raËunovodskim izkazomRezerve in zadržani dobiËkiEUR 1.000 31. 12. 2007 31. 12. 2006Kapitalske rezerve 61.885 61.873Presežek iz prevrednotenja, varovanjedenarnih tokovPresežek iz prevrednotenja, finanËnasredstva, razpoložljiva za prodajo1.241 194(1.743) (2.262)Rezerve iz dobiËka 78.384 52.357Zakonske rezerve 1.294 1.294Druge rezerve 77.090 51.063Zadržani dobiËek - 12.970»isti dobiËek poslovnega leta 7.591 5.466Skupaj 147.358 130.598BilanËni dobiËekEUR 1.000 31. 12. 2007 31. 12. 2006DobiËek za tekoËe leto 15.181 10.932Preneseni dobiËek iz preteklih let - 12.970PoveËanje rezerve - na podlagi sklepauprave in nadzornega sveta7.591 5.466Skupaj 7.591 18.436Za delniËarje - -Za rezerve 7.591 18.436Za prenos v naslednje leto - -DobiËek na delnicoEUR 1.000 2007 2006»isti dobiËek poslovnega leta 15.181 10.932Nominalna vrednost delniceŠtevilo delnicŠtevilo delnicEUR 417,29 - 13.000EUR 41,73 - 120.028EUR 4,17 3.898.878 1.398.598Nominalna vrednost delniceDobiËek na delnicoDobiËek na delnicoEUR 417,29 - 280,40EUR 41,73 - 28,04EUR 4,17 3,89 2,80DobiËek na delnico 2007: Ëisti dobiËek poslovnega leta(15.181 tisoË evrov) / Število delnic (3.898.878) = 3,89 evrov / delnicoDobiËek na delnico 2006: Ëisti dobiËek poslovnega leta(10.932 tisoË evrov) / Število delnic (3.898.878) = 2,80 evrov / delnicoPresežek iz prevrednotenjaPresežek iz prevrednotenja, stanje nadan 1. 1.Presežek iz prevrednotenja v zvezi zvarovanjem denarnih tokov - uspešni delvarovanjaEUR 1.000 2007 2006(2.068) 268194 -Od tega odloženi davki (60) -Presežek iz prevrednotenja v zvezi sfinanËnimi sredstvi, razpoložljivimi zaprodajo(2.262) 268Od tega odloženi davki (65) (89)PoveËanje 1.998 1.998Presežek iz prevrednotenja v zvezi zvarovanjem denarnih tokov - uspešni delvarovanja1.047 254Od tega odloženi davki (290) -Presežek iz prevrednotenja v zvezi sfinanËnimi sredstvi, razpoložljivimi zaprodajo951 149Od tega odloženi davki 406 47Zmanjšanje (432) (2.739)Presežek iz prevrednotenja v zvezi zvarovanjem denarnih tokov - uspešni delvarovanja- (60)Od tega odloženi davki - (60)Presežek iz prevrednotenja v zvezi sfinanËnimi sredstvi, razpoložljivimi zaprodajo(432) (2.679)Od tega odloženi davki 152 (23)Presežek iz prevrednotenja, stanje nadan 31. 12.Presežek iz prevrednotenja v zvezi zvarovanjem denarnih tokov - uspešni delvarovanja(502) (2.068)1.241 194Od tega odloženi davki (350) (60)Presežek iz prevrednotenja v zvezi sfinanËnimi sredstvi, razpoložljivimi zaprodajo(1.743) (2.262)Od tega odloženi davki 493 (65)74 2007 Letno poroËilo · UniCredit Bank


Pojasnila k izkazu poslovnega izidaPojasnilo 18:»isti obrestni prihodkiPrihodki iz obresti in podobni prihodkiObresti iz stanj na raËunih pri centralnibankiObresti iz finanËnih sredstev, namenjenihtrgovanjuObresti iz finanËnih sredstev, pripoznanihpo pošteni vrednosti skozi izkazposlovnega izidaObresti iz izvedenih finanËnihinstrumentov, namenjenih varovanjuObresti iz finanËnih sredstev,razpoložljivih za prodajoObresti iz danih kreditov in vlog (tudi izfinanËnega lizinga)EUR 1.000 2007 2006493 12827.257 2.2461.174 1.0382.599 6024.935 5.57477.721 58.554Banke 5.135 9.627Stranke, ki niso banke 72.586 48.927Obresti iz finanËnih sredstev v posesti dozapadlosti682 8.729Obresti iz drugih finanËnih sredstev 253 899Skupaj 115.114 77.770Odhodki za obresti in podobni odhodkiObresti iz finanËnih sredstev, namenjenihtrgovanjuObresti iz izvedenih finanËnihinstrumentov, namenjenih varovanjuObresti iz prejetih kreditov in vlog (tudi izfinanËnega lizinga)EUR 1.000 2007 200622.143 -2.530 71254.691 44.087Banke 39.892 33.143Stranke, ki niso banke 14.799 10.944Obresti iz drugih finanËnih obveznosti - 69Prihodki iz obresti na oslabljena finanËna sredstva v 2007 znašajo2.496 tisoË evrov.Zaradi spremembe raËunovodske politike v letu 2007 so biliprihodki in odhodki za obresti iz naslova finanËnih sredstev inobveznosti, namenjenih trgovanju (izvedeni finanËni instrumenti), vraËunovodskih izkazih za leto 2006 predstavljeni kot ››Ëisti dobiËki/izgube iz finanËnih sredstev in obveznosti, namenjenih trgovanju«.V raËunovodskih izkazih za leto 2007 je rezultat predstavljen kotprihodek ali odhodek za obresti. Prihodek iz obresti iz naslovafinanËnih sredstev in obveznosti, namenjenih trgovanju bi za leto2006 po novi politiki izraËuna znašal 6.496 tisoË evrov, odhodek zaobresti iz naslova finanËnih sredstev in obveznosti pa bi bil 6.728tisoË evrov.Pojasnilo 19:DividendeEUR 1.000 2007 2006FinanËna sredstva, razpoložljiva za prodajo 21 56Skupaj 21 56Pojasnilo 20:»iste opravnine (provizije)Prihodki iz opravnin (provizij)EUR 1.000 2007 2006Opravnine za posredniške posle 4.475 2.957Opravnine za odobritev posojil 5.259 3.453Transakcijske opravnine in menjava tujihvalutOpravnine za izpeljane finanËneinstrumente6.788 6.56917.002 7.246Ostale opravnine 1.163 257Skupaj 34.687 20.482Skupaj 79.364 44.868»iste obresti 35.750 32.902UniCredit Bank · 2007 Letno poroËilo75


RaËunovodski izkaziPojasnila k raËunovodskim izkazomOdhodki za opravnine (provizije)EUR 1.000 2007 2006Opravnine za posredniške posle 867 385Opravnine za odobritev posojil 282 209Transakcijske opravnine in menjava tujihvalutOpravnine za izpeljane finanËneinstrumente1.269 1.28514.269 5.457Ostale opravnine 916 -Skupaj 17.603 7.336Pojasnilo 22:»isti dobiËki/izgube iz finanËnih sredstevin obveznosti, namenjenih trgovanjuEUR 1.000 2007 2006Obveznice in krediti (2.440) (329)Trgovanje s tujimi valutami 529 2.331Izvedeni finanËni instrumenti 6.212 1.197Druga finanËna sredstva in obveznosti (46) -Skupaj 4.255 3.199»iste opravnine 17.084 13.146Pojasnilo 21:Realizirani dobiËki/izgube iz finanËnihsredstev in obveznosti, ki niso merjenipo pošteni vrednosti skozi izkazposlovnega izidaEUR 1.000 2007 2006DobiËek 141 848FinanËna sredstva, razpoložljiva zaprodajo101 582Krediti (vkljuËno s finanËnim lizingom) 40 261FinanËna sredstva v posesti dozapadlosti- 5Izguba (892) (162)FinanËna sredstva, razpoložljiva zaprodajo(699) (43)Krediti (vkljuËno s finanËnim lizingom) (160) (119)Druga finanËna sredstva in obveznosti (33) -Skupaj (751) 686Pojasnilo 23:DobiËki/izgube iz finanËnih sredstev inobveznosti, pripoznanih po pošteni vrednostiskozi izkaz poslovnega izidaEUR 1.000 2007 2006Krediti, pripoznani po pošteni vrednosti 41 (595)Skupaj 41 (595)Pojasnilo 24:»isti dobiËki/izgube iz teËajnih razlikEUR 1.000 2007 2006Pozitivne 195.030 31.415Negativne (195.567) (32.177)Skupaj (537) (762)V postavki Krediti (vkljuËno s finanËnim lizingom) banka poroËadirektne odpise in prihodke iz naslova direktnih odpisov izpreteklih let.76 2007 Letno poroËilo · UniCredit Bank


Pojasnilo 25:»isti dobiËki/izgube iz odprave pripoznanjasredstev brez nekratkoroËnih sredstev vposesti za prodajoEUR 1.000 2007 2006DobiËek 2 1Izguba (32) (23)Skupaj (30) (22)»isti dobiËki/izgube iz odprave pripoznanja sredstev predstavljajoprihodke in izgube iz odprave pripoznanja opredmetenih osnovnihsredstev.Pojasnilo 26:Drugi Ëisti poslovni dobiËki/izgubeEUR 1.000 2007 2006DobiËek 379 111Prihodki od prodaje nepremiËnin 177 20Prejete odškodnine 118 21Sprostitev razmejitev za stroške 67 40Drugi dobiËki 17 30Izguba (186) (116)»lanarine (101) (82)Dane odπkodnine (50) (8)Prispevki za zaposlovanje invalidov (30) (21)Druge izgube (30) (5)Skupaj 193 (5)Pojasnilo 27:Administrativni stroškiStroški delaEUR 1.000 2007 2006Bruto plaËe 10.602 9.558Dajatve za socialno zavarovanje 839 664Dajatve za pokojninsko zavarovanje 1.030 817Druge dajatve, odvisne od bruto plaË 508 583Drugi stroški dela 2.445 1.503Skupaj 15.424 13.125Bruto plaËe za 2007 vkljuËujejo stroške za nekorišËen dopust vvišini 446 tisoË evrov in stroške za s kapitalom poravnane plaËilnetransakcije z delnicami v višini 39 tisoË evrov.Skupina UniCredit Group je vzpostavila srednje do dolgoroËniprogram nagrajevanja z delniškimi opcijami, po katerem se delnice,ki jih izdaja UniCredito Italiano S.p.A razdelijo izbranim managerjemin zaposlenim v razliËnih odvisnih družbah Skupine. V skladu zMSRP so Ëlanice Skupine, katerih zaposlenim so bile dodeljenedelnice matiËne družbe, zavezane plaËati matiËni družbi izmerjenoobveznost za razporeditev njihovim zaposlenim. UniCredit BankaSlovenija d.d. je v letu 2007 prviË pripoznala izvršilni znesek za skapitalom poravnane delniške opcije.Kriteriji izraËuna poštene vrednosti za s kapitalom poravnanedelniške opcije: Poštena vrednost je bila izraËunana z uporabo t.i.››Hull and White« modela. Model temelji na trinominalnem drevesucenovne distrucije z uporabo Boyloeovega algoritma in ocenjujezgodnjo verjetnost izpolnitve na temelju deterministiËnega modela,ki je povezan z doseganjem tržne vrednosti delnice, kar je enakoizpolnitvenemu veËkratniku cene in verjetnosti, da jih bo upraviËenecodtujil v obdobju moratorija neizvršljivosti opcij.Datum podelitve s kapitalom poravnanih delniških opcij:Datum podelitve Število upraviËencev Vrednost (EUR18. november 2005 2 20.68613. junij 2006 2 13.28412. junij 2007 2 4.624UniCredit Bank · 2007 Letno poroËilo77


RaËunovodski izkaziPojasnila k raËunovodskim izkazomOstali administrativni stroškiEUR 1.000 2007 2006Stroški materiala 794 613Najemnine 1.706 1.531RaËunalniške storitve 2.236 4.249Komunikacijske storitve 356 253Elektronsko banËništvo in plaËilni sistem 561 395Revizija in nadzor 242 214Svetovalne storitve 1.361 1.258Storitve v zvezi s poslovnimi prostori 338 350Ostale storitve 947 917Stroški, povezani s preimenovanjembanke1.606 -Stroški reklame in sponzorstva 1.535 1.161Reprezentanca 124 45Ostalo 1.613 1.413Skupaj 13.419 12.399Stroški za revizijo in nadzor vkljuËujejo stroške revizije letnegaporoËila v višini 98 tisoË evrov revizijse družbe KPMG Slovenija,podjetje za revidiranje, d.o.o., ki za banko ne opravlja drugih storitev.Nadalje so vkljuËeni stroški svetovanja revizijske družbe Deloitterevizija d.o.o. v višini 22 tisoË evrov za neodvisno oceno službe zanotranjo revizijo banke ter stroški davËne revizije revizijske družbeErnst & Young d.o.o. v višini 5 tisoË evrov.Pojasnilo 28:AmortizacijaEUR 1.000 2007 2006Opredmetena osnovna sredstva 1.615 1.591Vlaganja v tuje objekte 577 540RaËunalniška oprema 582 737Ostala oprema 456 314Neopredmetena sredstva 1.550 1.328Programska oprema 1.550 1.328Skupaj 3.165 2.919Pojasnilo 29:RezervacijeEUR 1.000 2007 2006Za pravno nerešene tožbe 11 (1)Za pokojnine in podobne obveznosti 80 79Za zunajbilanËne obveznosti (453) 565Za operativna tveganja - pranje denarja 14 -Skupaj (348) 643Banka ima v najemu veËje število poslovnih prostorov. Najemnepogodbe se sklenejo za do 15 let z možnostjo podaljšanja oziromapredËasne prekinitve, v kolikor se obe stranki strinjata, Ëe odpovednirok ni natanËno doloËen v pogodbi. Minimalni zneski pogodbenihobveznosti znašajo, kot je navedeno spodaj.Za manj kot 1 leto: Za leto 2007 znašajo obveznosti 1.045 tisoËevrov ter 1.073 tisoË evrov za leto 2006. Banka nima obveznostiiz naslova minimalnih pogodbenih obveznosti, ki bi bile daljše odenega leta.78 2007 Letno poroËilo · UniCredit Bank


Pojasnilo 30:Oslabitve finanËnih sredstevOslabitve finanËnih sredstev,razpoložljivih za prodajoOslabitve finanËnih sredstev,merjenih po odplaËni vrednostiEUR 1.000 2007 200612 864.642 4.679PoveËanje 11.462 17.275Krediti 9.728 14.782Obresti 1.006 1.871Opravnine 12 38Ostala sredstva 716 584Zmanjšanje (6.820) (12.596)Krediti (5.913) (11.642)Obresti (784) (668)Opravnine (15) (24)Ostala sredstva (108) (262)Skupaj 4.654 4.765EUR 1.000 2007 2006DobiËek pred davki 19.712 14.753DavËna stopnja 23% 4.534 25,00% 3.688Davek za davËnonepriznane odhodkeZmanjšanje davka zazmanjšanje prihodkov1,16% 229 28,21% 4.161(0,65%) (128) (0,61%) (90)Ostale prilagoditve (0,53%) (104) (26,69%) (3.938)Skupaj 22,98% 4.531 25,90% 3.821Neto izpostavljenost finanËnih sredstev, razpoložljivih za prodajo, jepojasnjena v pojasnilu 4, neto izpostavljenost za sredstva, merjenapo odplaËni vrednosti, v pojasnilu 6 ter neto izpostavljenost za drugasredstva v pojasnilu 11.Pojasnilo 31:Davek iz dohodka pravnih osebiz rednega poslovanja s pojasnilomefektivne davËne stopnjeEUR 1.000 2007 2006TekoËi davki 3.518 8.951Odloženi davki 1.013 (5.130)Skupaj 4.531 3.821UniCredit Bank · 2007 Letno poroËilo79


RaËunovodski izkaziPojasnila k raËunovodskim izkazomPojasnila k izkazu finanËnega izidaEUR 1.000 2007 2006Denar v blagajni (pojasnilo 1) 9.224 6.512Obvezne rezerve pri centralni banki(pojasnilo1)Druga sredstva pri centralni banki(pojasnilo 1)Krediti bankam z zapadlostjo do 3mesece (pojasnilo 5)FinanËna sredstva, namenjena trgovanju(pojasnilo 2)FinanËna sredstva, razpoložljiva zaprodajo (pojasnilo 4)FinanËna sredstva v posesti do zapadlosti(pojasnilo 6)18.529 5.776- 6.25991.855 231.986100.718 76.0559.724 49.386- 187.782Skupaj 230.050 563.756Obvezne rezerve pri centralni banki niso namenjene dnevnemuposlovanju banke. Denar v blagajni se ne obrestuje. Obveznerezerve in druga sredstva pri centralni banke imajo fiksno obrestnomero, predpisano s strani Banke Slovenije. Krediti bankam imajospremenljivo oziroma fiksno obrestno mero. FinanËna sredstva,namenjena trgovanju, in finanËna sredstva, razpoložljiva za prodajo,predstavljajo obveznice Republike Slovenije. FinanËna sredstvavkljuËena med denarne ustreznike za leto 2006 ne vkljuËujejopripadajoËih obresti.Pojasnilak zunajbilanËnemu poslovanjuPojasnilo 32:ZunajbilanËno poslovanjeGarancije, prevzete finanËne obveznostiin izvedeni finanËni instrumentiEUR 1.000 31. 12. 2007 31. 12. 2006FinanËne garancije 88.868 106.763Storitvene garancije 46.408 34.278Krediti, limiti in kreditne linije 410.714 314.447Upniki po spot poslih 36.945 21.778Nekriti nostro akreditivi 3.547 3.791Kriti nostro akreditivi 745 2.753Konfirmacije po loro akreditivih - 2.672Nominalna vrednost izvedenih finanËnihinstrumentov5.178.380 2.114.051Skupaj 5.765.607 2.600.533Izvedeni finanËni instrumentiEUR 1.000 31. 12. 2007 31. 12. 2006Upniki za terminske pogodbe 129.928 139.062Upniki za opcije 2.441.898 1.046.749Upniki za obrestne zamenjave 2.597.194 928.240Trgovalni 2.427.631 853.510Za varovanje denarnih tokov 169.563 74.730Upniki za blagovne zamenjave 9.360 -Skupaj 5.178.380 2.114.051Skupaj trgovalni 5.008.817 2.039.321Skupaj za varovanje 169.563 74.73080 2007 Letno poroËilo · UniCredit Bank


GarancijeEUR 1.000 2007 2006Stanje na dan 1. 1. 141.041 153.590PoveËanje 131.579 120.945Nove garancije 131.579 119.849TeËajne razlike - 1.096Zmanjšanje (137.344) (133.494)IzplaËilo garancij (84) (548)Ugasnjene garancije (134.863) (132.946)TeËajne razlike (2.397) -Stanje na dan 31.12 135.276 141.041Poslovanje po pooblastiluPoslovanje po pooblastilu vkljuËuje vodenje sindiciranih posojil,vodenje agentskih poslov, posredovanje pri nakupu in prodajivrednostnih papirjev ter skrbniške storitve.Bilanca stanja iz poslovanja po pooblastiluEUR 1.000 31. 12. 2007 31. 12. 2006Sredstva 118.123 43.173Denarna sredstva na izloËenem raËunu 15 15Terjatve iz posojil 97.546 39.948Denarna sredstva strank za opravljanjeposlov z vrednostnimi papirjiTerjatve iz poslov posredovanja zvrednostnimi papirji16.524 472109 -Terjatve po skrbniških poslih v tuji valuti 3.928 2.738Obveznosti 118.123 43.173Obveznosti iz poslovanja v tujem imenuin za tuj raËunObveznosti iz posredovanja zvrednostnimi papirji97.562 39.9643.019 37Obveznosti iz skrbniških poslov 17.542 3.172Izkaz poslovnega izida iz poslovanja po pooblastiluPrihodki banke iz poslovanja, zakatero ima dovoljenjeEUR 1.000 2007 20064.475 2.957Borzno posredovanje 3.005 1.990Pomožne storitve v zvezi z vrednostnimipapirji1.470 967Investicijsko svetovanje - 12Vodenje raËunov nematerializiranihvrednostnih papirjevOdhodki banke iz poslovanja, zakatero ima dovoljenje; v zvezi z:1.470 954994 444Klirinško depotno družbo 256 74Borzo vrednostnih papirjev 430 201Pravno osebo, ki opravlja plaËilni promet 308 169Posredniško poslovanjeEUR 1.000 31. 12. 2007 31. 12. 2006Sredstva 20.561 3.210KratkoroËne terjatve do strank 109 -Denarna sredstva 20.452 3.210Denarna sredstva na posredniškemraËunu 748Denarna sredstva na posebnem deviznemracunu izloËenih sredstev16.524 4723.928 2.738Obveznosti 20.561 3.210KratkoroËne obveznosti do strank 20.561 3.210KratkoroËne obveznosti do povezanihstrank2 2KratkoroËne obveznosti do drugih strank 20.559 3.208UniCredit Bank · 2007 Letno poroËilo81


RaËunovodski izkaziPojasnila k raËunovodskim izkazomPoravnalno poslovanjeEUR 1.000 31. 12. 2007 31. 12. 2006Sredstva 106 -KratkoroËne terjatve do posredniškegaraËuna 748106 -Obveznosti 106 -KratkoroËne terjatve do posredniškegaraËuna 627Neto kratkoroËne terjatve do Klirinškodepotne družbePovezane stranke11 -95 -MatiËna družba banke je Bank Austria Creditanstalt AG Dunaj, ki imav lasti 99,99 % navadnih delnic banke. Lastniki ostalih navadnihdelnic so domaËa podjetja in fiziËne osebe. KonËna lastnica matiËnebanke je UniCredito Italiano S.p.A.V svojem obiËajnem poslovanju izvaja banka številne transakcije zdrugimi Ëlanicami skupine UniCredit Group, kar vkljuËuje dane inprejete kredite, posle v tuji valuti ter posle z izvedenimi finanËnimiinstrumenti.Stanja in obsegi prihodkov oziroma odhodkov s povezanimi osebamiso navedeni v tabelah:Bilanca stanjaEUR 1.000 31. 12. 2007 31. 12. 2006Krediti 68.903 205.557Uprava 186 200MatiËna banka 68.154 205.016Ostale povezane osebe v skupiniUniCredit GroupTerjatve iz naslova izvedenih finanËnihinstrumentov563 34031.252 11.753MatiËna banka 20.617 11.709Ostale povezane osebe v skupiniUniCredit Group10.634 44Druga sredstva 33 251MatiËna banka 28 147Ostale povezane osebe v skupiniUniCredit Group4 104Skupaj sredstva 100.187 217.561Vloge in krediti bank 1.097.465 1.304.945Uprava 222 160MatiËna banka 1.096.410 1.295.692Ostale povezane osebe v skupiniUniCredit GroupObveznosti iz naslova izvedenihfinanËnih instrumentov833 9.09222.835 6.996MatiËna banka 9.585 6.991Ostale povezane osebe v skupiniUniCredit Group13.250 5Druge obveznosti 120 79MatiËna banka 11 11Ostale povezane osebe v skupiniUniCredit Group110 69Skupaj obveznosti 1.120.420 1.312.020Dani krediti so zavarovani s hipoteko in se sklepajo po obiËajnihposlovnih pogojih. Krediti bankam v skupini so nezavarovanevpogledne oziroma vezane vloge s spremenljivo obrestno mero.82 2007 Letno poroËilo · UniCredit Bank


Izkaz poslovnega izidaEUR 1.000 2007 2006Prihodki iz obresti 22.142 3.425Uprava 6 1MatiËna banka 18.664 3.399Ostale povezane osebe v skupini UniCreditGroup3.472 25Prihodki iz opravnin (provizij) 1.033 656MatiËna banka 727 549Ostale povezane osebe v skupini UniCreditGroup306 107Skupaj prihodki 23.175 4.081Odhodki iz obresti 58.837 31.235Uprava 8 5MatiËna banka 55.623 31.228Ostale povezane osebe v skupini UniCreditGroup3.206 2Odhodki za opravnine (provizije) 45 2.471MatiËna banka 28 2.469Ostale povezane osebe v skupini UniCreditGroup17 2Administrativni stroški 1.135 2.160Ostale povezane osebe v skupini UniCreditGroup1.135 2.160Skupaj odhodki 60.017 35.866Dogodki po datumu bilance stanjaUniCredit Banka Slovenija d.d. ima namero poveËati kapital v prvempolletju 2008 višini 20 milijonov evrov.Pravne tožbeNa dan bilance stanja UniCredit Banka Slovenija d.d. ni bila vpletenav pomembne pravne spore oziroma druge pravne postopke.Izjava o oškodovanjuUniCredit Banka Slovenija d.d. kot Ëlanica skupine UniCreditGroup v svojem obiËajnem poslovanju izvaja številne transakcijez drugimi Ëlanicami skupine UniCredit Group. Le-te se izvajajo poobiËajnih tržnih pogojih in nimajo negativnega vpliva na priloženeraËunovodske izkaze. V skladu s 545. Ëlenom Zakona o gospodarskihdružbah podajamo izjavo, da v letu 2007 po nalogu obvladujoËedružbe ni bilo opravljenih škodljivih poslov ali drugih dejanj, ki bipovzroËila oškodovanje banke.IzplaËila povezanim strankamEUR 1.000 2007 2006PlaËila, izplaËana Ëlanom uprave 383 376PlaËe in drugi osebni prejemki 383 376PlaËilne transakcije z delnicami - -PlaËila, izplaËana Ëlanom nadzornega sveta - -PlaËila, izplaËana drugim zaposlenim zindividualno pogodbo581 574PlaËe in drugi osebni prejemki 581 574Skupaj 964 950Število Ëlanov uprave 3 3Število Ëlanov nadzornega sveta 5 5Število zaposlenih z individualno pogodbo 9 6PovpreËno število zaposlenih z individualno pogodbo v letu 2007 jebilo 7 zaposlenih.UniCredit Bank · 2007 Letno poroËilo83


BanËna tveganjaBanËna tveganjaUpravljanje s tveganjiNa podroËju upravljanja s tveganji UniCredit Banka Slovenija d.d.tesno sodeluje z oddelki za spremljanje, obvladovanje in upravljanjetveganj Bank Austria Creditanstalt AG Dunaj in podpira prizadevanjaskupine UniCredit, da bi vzpostavila poenotene postopkeobvladovanja in nadziranja tveganj na ravni skupine.UniCredit Banka Slovenija d.d. ugotavlja, meri, spremlja, obvladujein upravlja naslednje kategorije tveganj v skladu s stališËi skupinena podroËju tveganj:• tržna tveganja (valutna in obrestna tveganja in tveganja iz naslovatrgovanja z lastniškimi vrednostnimi papirji),• likvidnostno tveganje,• kreditno tveganje,• operativno tveganje,• poslovno tveganje,• tveganje na podroËju nepremiËnin,• tveganja iz naslova deležev in kapitalskih udeležb banke.Odbor za upravljanje bilance banke (ALCO) je odbor UniCreditBanke Slovenija, ki se ukvarja z vprašanji upravljanja tveganj.ALCO se ukvarja z odobritvijo in pregledovanjem strategij in politikprevzemanja in upravljanja s tveganji, redno preverja izpostavljenostbanke razliËnim vrstam tveganja in odobri doloËitve limitov za vsepomembne vrste tveganj ter postopke obvladovanja tveganj. Odborje odgovoren za upravljanje s strukturo bilance banke, spremljaizpostavljenost likvidnostnemu in obrestnemu tveganju, ukvarja pase tudi z vprašanji upravljanja tveganj, ki zadevajo veË divizij inupravljanja poslovanja celotne banke. ALCO odloËa o vprašanjih,ki zadevajo podroËje operativnih tveganj in je informiran o razvojukreditnega portfelja kot tudi ekonomskega kapitala.Vse dejavnosti obvladovanja tveganj UniCredit Banke Slovenijad.d. so združene v dveh divizijah, katerih pristojnosti in naloge soorganizacijsko razmejene od poslovnih enot vse do ravni uprave:• Divizija za Upravljanje s tveganji se ukvarja z ocenjevanjembonitete strank in je odgovorna za vrednotenje kreditnih zavarovanjin reševanje problematiËnih naložb. Divizija je zadolžena zavodenje kreditnih odborov.• Divizija Finance in tržna tveganja pokriva podroËja obvladovanjatržnega in operativnega tveganja ter izraËunavanje ekonomskegakapitala. Divizija je prav tako zadolžena za proces ocenjevanjaustreznega notranjega kapitala.Obe diviziji sta tesno povezani pri izvajanju vpeljave nove kapitalskeureditve (Basel II). UniCredit Banka Slovenija d.d. bo 1. 1. 2008zaËela uporabljati standardizirani pristop pri izraËunu kapitalskezahteve za kreditno tveganje in priËela s pripravami na uvedbopristopa na podlagi notranjih bonitetnih sistemov (v nadaljevanju:pristop IRB).Banka uporablja standardizirani pristop za tržna tveganja,standardiziran pristop pa bo uporabila tudi za operativna tveganja.Za izraËun kapitalske zahteve za operativna tveganja pripravlja uvedbonaprednega pristopa, za odobritev modela pa namerava zaprositi vletu 2008.UniCredit Banka Slovenija d.d. uporablja naËelo dvojnega vodenjain nadzora. Po tem naËelu se pri oblikovanju cen pri poslovanjus strankami (mikro nadzor) zahteva doloËen donos, ki pokrivakapitalsko zahtevo po Basel I, kot tudi ekonomski kapital(za pokrivanje nenaËrtovanih izgub).Po eni strani se s tem doseže skladnost z regulatornimi kapitalskimizahtevami, po drugi strani pa ekonomski kapital odraža specifiËniprofil tveganja banke na bolj celovit in dosleden naËin. Z izjemolikvidnostnega tveganja se ekonomski kapital izraËuna s pomoËjometod tvegane vrednosti (value-at-risk oz. VaR) za vse vrste tveganj.Poseben dejavnik, ki se upošteva pri zahtevanem tveganem kapitalu,je poslovno tveganje, ki odraža vpliv zunanjih dejavnikov, kotso obnašanje kupcev ali konkurenËna situacija na trgu, vrednostposlovnih divizij ali podružnic.NenaËrtovane izgube v obdobju enega leta se izraËunajo z intervalomzaupanja 99,95%.Tržna tveganjaUniCredit Banka Slovenija d.d. je izpostavljena pri svojem poslovanjutržnim tveganjem. To je tveganje, da bi poštena vrednost ali prihodnjidenarni tokovi finanËnega instrumenta lahko nihali zaradi spremembtržnih cen.Tržna tveganja nastanejo v primeru odprtih pozicij iz naslovaobrestne izpostavljenosti, iz naslova tujih valut, iz naslova kreditnegarazpona in iz naslova lastniških vrednostnih papirjev. Vse navedenoje izpostavljeno splošnim in posebnim tržnim gibanjem terspremembam nestanovitnosti tržnih teËajev ali cen, kot so obrestnemere, kreditni razpon, menjalni teËaji in cene lastniških finanËnihinstrumentov.84 2007 Letno poroËilo · UniCredit Bank


UniCredit Banka Slovenija d.d. prenaša vsa tržna tveganja natrgovalno enoto preko sistema za transfernih cen.Metode obvladovanja tržnIH tveganjObvladovanje tržnih tveganj vkljuËuje vse dejavnosti, povezane s poslizakladništva in upravljanja strukture bilance banke UniCredit BankeSlovenija. Pozicije tveganja se ugotavljajo vsaj enkrat dnevno inanalizirajo s strani neodvisne enota za obvladovanje tvegani, ki jih tudiprimerja z odobrenimi limiti, kakor jih doloËi ALCO.Obvladovanje tveganj v UniCredit Banka Slovenija d.d. vkljuËuje stalnoporoËanje o poziciji tveganja, uporabi limitov in dnevni predstavitvirezultatov poslovanja zakladništva.ALCO vsaj enkrat letno doloËi limite za tržna tveganja banke v tesnemsodelovanju z ustreznimi enotami Bank Austria Creditanstalt AG Dunaj.Celoten sklop pravil za poslovanje zakladništva in upravljanje tržnihtveganj je doloËen v Pravilniku za zakladništvo in je razdeljen na tridele (Splošni del, Posebni del in Del, ki velja za Unicredit BankoSlovenija). Izpostavljenost tržnim tveganjem lahko spreminjajo le tisti,ki so pooblašËeni za prevzemanje in spreminjanje pozicij.Za spremljanje izpostavljenosti tržnim tveganjem UniCredit BankaSlovenija d.d. uporablja model ››NORISK«, ki ga je razvil oddelek zaStrateško upravljanje tveganj v Bank Austria Creditanstalt AG Dunaj inse v UniCredit Banka Slovenija uporablja že veË let. Leta 2004 je bilmodel razširjen tako, da vkljuËuje dodatne metode izraËuna (pristopvariance-kovariance in simulacij). Posodobitev in izpopolnjevanje, kiga izvaja oddelek Strateškega upravljanja tveganj na Dunaju, vkljuËujepregledovanje modela kot del postopkov povratnega testiranja,integracije novih izdelkov in prilagajanja sistema splošnim tržnimdogajanjem. V tem smislu je bil tudi v UniCredit Banka Slovenijavzpostavljen postopek uvajanja produktov, v katerem enota zaobvladovanje tveganj skupaj s prodajnimi enotami igra odloËilnovlogo pri odobritvi novih produktov.Model za obvladovanje tveganj ››NORISK« na osnovi agregiranihpodatkov vsak dan zagotavlja najpomembnejše parametre tveganjza poslovanje zakladništva. Poleg tvegane vrednosti (VaR, za internomerjenje tveganj na osnovi enodnevnega obdobja izraËuna in obintervalu zaupanja 99%) se izraËuna tudi sedanja vrednost baziËnetoËke (bvbp). Za obvladovanje tveganj se uporabljajo limiti baziËnetoËke glede na valuto in zapadlost, vsote baziËnih toËk po segmentuvalute in/ali zapadlosti (vsota vrednosti absolutnih toËk).Drugi dejavniki, ki so prav tako pomembni, so izjemne situacije inlimiti za posamezne pozicije. Dodatni elementi sistema limitov solimiti najveËje dovoljene izgube. Spremljanje trendov pri dobiËkih/izgubah zagotavljajo zgodnje odkrivanje morebitnih nabranih izgubpozicij.Informacije, ki jih zagotavljata ALCO in uprava, dopolnjujejo redniizraËuni izjemnih scenarijev (››stress tests«). Takšni izjemni scenarijitemeljijo na predpostavkah ekstremnih premikov posameznihparametrov tržnih tveganj. UniCredit Banka Slovenija analizirauËinke teh gibanj in motenj v likvidnosti specifiËnih produktov indejavnikov tveganja na njene rezultate poslovanja in neto pozicijoaktive. Predpostavke ekstremnih gibanj so odvisne od valute inlikvidnosti, banka pa jih doloËa v tesnem sodelovanju z oddelkom zaStrateško upravljanje tveganj v Bank Austria Creditanstalt AG Dunajna diskrecijski osnovi. Rezultati teh izjemnih situacij se upoštevajo pridoloËanju limitov.Poleg rezultatov modela obvladovanja tveganj se tudi podatkio prihodkih iz dejavnosti tržnega tveganja doloËajo in sporoËajovsakodnevno. Ti podatki so predstavljeni za doloËeno Ëasovno obdobjein se primerjajo s trenutnimi proraËunskimi podatki. PoroËanjevkljuËuje sestavine, ki se odražajo v neto prihodkih po MSRP invrednotenju vseh pozicij po tržni vrednosti, ne glede na njihovopripoznavanje v finanËnih izkazih po MSRP (››celotni prihodki«).UniCredit Banka Slovenija d.d. je v letu 2006 uvedla sistem››MARCONIS«, ki so ga razvili v Bank Austria Creditanstalt AG Dunaj.››MARCONIS« v celoti in sistematiËno pregleduje tržno usklajenostvsake posamezne transakcije zakladništva.Obrestno tveganje in likvidnostno tveganje iz naslova transakcij sstrankami se pripisuje Zakladništvu UniCredit Banka Slovenija d.d.na podlagi sistema transfernih cen ki se uporablja na ravni skupine.Zaradi tega je mogoËe posameznim divizijam banke pripisati tržna inlikvidnostna tveganja ter marže v skladu z naËelom vzroËnosti.ALCO zagotavlja optimizacijo celotne strukture zapadlosti v banki,rezultati transformacije zapadlosti pa se odražajo v diviziji Mednarodnitrgi. Dejavniki, ki se upoštevajo na tem podroËju, vkljuËujejo stroškenadomestil za prevzemanje obrestnih tveganj, likvidnostne stroške instroške deželnih tveganj, ki so povezani s financiranjem tujih valut.Obrestno tveganje, valutno tveganje in tveganjekreditnega razponaRezultati internega modela, ki temelji na VaR (1 dan, interval zaupanja99%), za leto 2007 so višji od rezultatov predhodnih let. Glavni razlogpredstavlja dejstvo, da banka od junija 2007 naprej meri tudi tveganjakreditnih razponov s pomoËjo metode tvegane vrednosti. Spodnjatabela VaR vsebuje obrestne in valutne pozicije ter spremembekreditnega razpona UniCredit Banke Slovenija d.d.UniCredit Bank · 2007 Letno poroËilo85


BanËna tveganjaBanËna tveganjaUniCredit Banka Slovenija d.d. ni imela pozicij iz naslova lastniških vrednostnih papirjev niti v letu 2006 niti v 2007.VaR UniCredit Banka Slovenija d.d., 2006-2007Tvegana vrednost 2006 Tvegana vrednost 2007EUR 1.000 Minimum Maksimum PovpreËje Minimum Maksimum PovpreËjeSlovenija 47,26 775,00 239,91 19,09 1 .016,64 405,55Banka ima odprte pozicije predvsem v EUR, USD in CHF, medtem ko so v drugih valutah odprte pozicije bistveno nižje.Premik v obrestni meri za eno baziËno toËko konec leta 2007 (Interest rate basis point shift)Valuta Do 1 meseca 1 do 3 mesece 3 mesecedo 1 leto31. 12. 2007 Letni max, min, povpreËje1 do 5 let Nad 5 let Skupaj Letni Letni minimummaksimumAbsolutnopovpreËjeCHF 17 575 13 (18) - 586 2.834 (2.044) 810EUR (1.157) (10.173) 6.458 (8.574) 14.040 594 44.947 (29.038) 17.283USD 111 22 302 1.735 - 2.170 2.209 807 1.425Skupaj 1.305 10.812 6.773 10.327 14.040 3.412 46.004 1.325 19.545Premik v obrestni meri za eno baziËno toËko konec leta 2006Valuta Do 1 meseca 1 do 3 mesece 3 mesecedo 1 leto29. 12. 2006 Letni max, min, povpreËje1 do 5 let Nad 5 let Skupaj Letni Letni minimummaksimumAbsolutnopovpreËjeCHF (56) (96) (365) (17) (15) (549) 2.130 (7.861) 838EUR 671 671 (7.183) 22.520 32.163 48.842 57.670 (8.380) 17.401SIT (550) (1.270) (2.333) (28.721) (42.180) (75.054) (18.569) (81.809) 49.756USD (38) 163 403 (1.156) 1.926 1.298 1.334 (505) 547Skupaj 1.315 2.201 10.286 52.414 76.284 125.742 140.481 20.792 68.545UËinek spremembe kreditnega razpona za eno baziËno toËko (Spread basis point value)Zapadlost Do 6 mesecev Od 6 mesecev do2 leti29. 12. 2006 Letni max, min, povpreËje2 leti do 7 let nad 7 let Skupaj LetnimaksimumLetniminimumAbsolutnopovpreËjeSkupaj (688) (9.954) (64.037) (52.561) 127.239 131.347 126.043 129.52186 2007 Letno poroËilo · UniCredit Bank


Basel II prviË vzpostavlja odnos med obrestnim tveganjem in banËnoknjigo ter kapitalom banke na podlagi primerjave spremembe tržnevrednosti banËne knjige po 2 % šoku obrestne mere z viri netokapitala banke. »e tak šok obrestne mere absorbira veË kot 20 %neto kapitala banke, lahko nadzorni organ banke zahteva sprejemukrepov za zmanjšanje tveganj.Šok 2 % obrestne mere konec leta bi absorbiral približno 3,9 % netokapitala UniCredit Banke Slovenija d.d.; ta izraËun pa vkljuËuje tuditrenutne naložbe kapitala kot odprto pozicijo tveganja. To pomeni, daje izraËun za UniCredit Banko Slovenija d.d. bistveno pod ravnjo 20 %.Poleg tvegane vrednosti se spremlja tudi odprta valutna pozicija zavsako valuto posebej.Banka je imela veËje odprte pozicije le v pomembnejših valutah.Odprta devizna pozicija v letu 2007:EUR 1.000Valuta max. kratka pozicija max. dolga pozicijaAUD (587) 630BAM (70) 69BGN (41) 30CAD (696) 114CHF (4.969) 1.527CZK (127) 29DKK (21) 94GBP (2.672) 2.423HKD (150) 35HRK (297) 201HUF (93) 569JPY (3.687) 4.077NOK (43) 41PLN (123) 195RSD (94) 132SEK (275) 59SKK (19) 30USD (5.067) 19.625UniCredit Bank · 2007 Letno poroËilo87


BanËna tveganjaBanËna tveganjaBilanËne postavke v razliËnih valutah za 31. 12. 2007:Oznakabil.postavkeVsebinaCHF EUR JPY USD GBP OstalevaluteA. 1. Denar v blagajni in stanje na raËunih pri centralni banki 217 26.648 3 644 50 190 27.753A. 2. FinanËna sredstva, namenjena trgovanju 45 188.212 - 1.006 - - 189.263A. 3. FinanËna sredstva, pripoznana po pošteni vrednosti skozi izkazposlovnega izidaSkupaj1.150 19.294 - - - - 20.444A. 4. FinanËna sredstva, razpoložljiva za prodajo - 115.377 - - - - 115.377A. 5. Izvedeni finanËni instrumenti, namenjeni varovanju - 1.818 - - - - 1.818A. 6. Krediti 453.802 1.277.471 19 10.940 219 937 1.743.389A. 7. Opredmetena osnovna sredstva - 7.049 - - - - 7.049A. 8. Neopredmetena sredstva - 6.442 - - - - 6.442A. 9. Terjatve za davek od dohodkov pravnih oseb - 8.235 - - - - 8.235A. 10. Druga sredstva 3 12.860 - 61 - - 12.924SKUPAJ SREDSTVA 455.217 1.663.406 22 12.650 269 1.128 2.132.693P. 1. FinanËne obveznosti, namenjene trgovanju (1) 49.718 - 728 - - 50.445P. 2. Izvedeni finanËni instrumenti, namenjeni varovanju - 91 - - - - 91P. 3. FinanËne obveznosti, merjene po odplaËni vrednosti 430.368 1.449.573 6.972 15.847 883 607 1.904.250P. 4. Rezervacije - 1.071 - - - - 1.071P. 5. Obveznosti za davek od dohodkov pravnih oseb - 2.915 - - - - 2.915P. 6. Druge obveznosti 416 7.758 - 1.930 40 160 10.306P. 7. Osnovni kapital - 16.258 - - - - 16.258P. 8. Kapitalske rezerve - 61.885 - - - - 61.885P. 9. Presežek iz prevrednotenja - (502) - - - - (502)P. 10. Rezerve iz dobiËka (vkljuËno z zadržanim dobiËkom) - 78.384 - - - - 78.383P. 11. »isti dobiËek/izguba poslovnega leta - 7.591 - - - - 7.591SKUPAJ OBVEZNOSTI IN KAPITAL 430.783 1.674.742 6.972 18.505 923 767 2.132.693B. ZunajbilanËno poslovanje (B.1 - B.4) 791.800 4.807.552 3.500 111.846 2.952 47.956 5.765.60788 2007 Letno poroËilo · UniCredit Bank


BilanËne postavke v razliËnih valutah za 31. 12. 2006::Oznakabil.postavkeVsebinaCHF EUR JPY USD GBP SIT OstalevaluteA. 1. Denar v blagajni in stanje na raËunih pri centralni banki 125 2.153 3 247 54 15.902 63 18.547A. 2. FinanËna sredstva, namenjena trgovanju 1 6.364 - 417 - 110.637 - 117.419A. 3. FinanËna sredstva, pripoznana po pošteni vrednosti skozi izkazposlovnega izidaSkupaj1.359 29.000 - - - - - 30.359A. 4. FinanËna sredstva, razpoložljiva za prodajo - 14.435 - - - 143.424 - 157.859A. 5. Izvedeni finanËni instrumenti, namenjeni varovanju - 602 - - - 261 - 863A. 6. Krediti 273.428 1.138.953 2 11.402 810 220.007 800 1.645.402A. 7. FinanËna sredstva, v posesti do zapadlosti - - - - - 188.414 - 188.414A. 8. Opredmetena osnovna sredstva - - - - - 6.805 - 6.805A. 9. Neopredmetena sredstva - - - - - 6.722 - 6.722A. 10. Terjatve za davek od dohodkov pravnih oseb - - - - - 4.929 - 4.929A. 11. Druga sredstva 20 5.720 - 314 1 3.918 - 9.972SKUPAJ SREDSTVA 274.932 1.197.226 5 12.379 866 701.020 863 2.187.291P. 1. FinanËne obveznosti, namenjene trgovanju 1 6.431 - 203 - 16.548 - 23.182P. 2. Izvedeni finanËni instrumenti, namenjeni varovanju - 660 - - - 7 - 667P. 3. FinanËne obveznosti, merjene po odplaËni vrednosti 228.269 1.500.106 3 24.788 989 245.275 471 1.999.901P. 4. Rezervacije 369 244 - - - 817 - 1.429P. 5. Obveznosti za davek od dohodkov pravnih oseb - - - - - 9.104 - 9.104P. 6. Druge obveznosti 195 2.622 1 17 50 3.173 81 6.139P. 7. Osnovni kapital - - - - - 16.270 - 16.270P. 8. Kapitalske rezerve - - - - - 61.874 - 61.874P. 9. Presežek iz prevrednotenja - - - - - (2.068) - (2.068)P. 10. Rezerve iz dobiËka (vkljuËno z zadržanim dobiËkom) - - - - - 65.327 - 65.327P. 11. »isti dobiËek/izguba poslovnega leta 5.466 5.466SKUPAJ OBVEZNOSTI IN KAPITAL 228.833 1.510.062 4 25.008 1.039 421.792 552 2.187.291ZunajbilanËno poslovanje (B.1 - B.4) 36.455 2.255.534 - 195.715 3.714 51.443 57.672 2.600.533UniCredit Bank · 2007 Letno poroËilo89


BanËna tveganjaBanËna tveganjaLikvidnostno tveganjeLikvidnostno tveganje je tveganje, da banka ni sposobna trajnoin pravoËasno izpolnjevati svojih plaËilnih obveznosti, povezanihz njenimi finanËnimi viri sredstev ob zapadlosti, in ni zmožnanadomestiti sredstev, ko so Ërpani. Posledica je lahko neuspešnoizpolnjevanje obveznosti do strank pri izplaËilu depozitov in priizpolnitvi obveznosti posojanja.UniCredit Banka Slovenija d.d. se spopada z likvidnostnimtveganjem kot centralnim tveganjem v banËnem poslovanju z uvedbokratkoroËnih in srednjeroËnih likvidnostnih limitov. V tem kontekstuse likvidnostni položaj za naslednjih nekaj dni, kot tudi za daljšaobdobja, analizira na podlagi standardnega scenarija in v primerjavis scenariji splošnih in posebnih banËnih likvidnostnih kriz. Stalnose analizira tudi stopnja likvidnostni pozicij strank in proprietarnihpozicij.V okviru likvidnostne politike so doloËeni postopki, odgovornosti inlinije poroËanja na tem podroËju, vkljuËuje pa tudi sprejetje krizneganaËrta v primeru morebitne likvidnostne krize.Poleg primarnih virov, ki so na voljo banki, dobiva UniCreditBanka Slovenija sredstva iz likvidnostnega centra v Bank AustriaCreditanstalt AG, Dunaj po likvidnostnih stroških skupine UniCredit.Trenutno upravljanje poslovanja strank banke upošteva likvidnostnestroške. Veljavni alternativni stroški bremenijo, oziroma so, napodlagi oportunitetnega pristopa, pripisani razliËnim produktom nastrani sredstev in obveznosti, ki vplivajo na likvidnost. V sedanjemkontrolinškem procesu to zagotavlja doloËanje ustreznih cen našihproduktov.90 2007 Letno poroËilo · UniCredit Bank


Bilanca stanja po zapadlosti na dan 31. 12. 2007Oznakabil.post.Vsebina Skupaj Na vpogled Do 1 meseca Od 1 - 3mesecevOd 3 - 12mesecevOd 1 - 5 letA. 1. Denar v blagajni in stanje na raËunih pri centralni banki 27.753 27.753 - - - - -A. 2. FinanËna sredstva, namenjena trgovanju 189.263 - 135.739 1.317 5.001 35.516 11.689A. 3. FinanËna sredstva, pripoznana po pošteni vrednosti skozi izkazposlovnega izidaEUR 1.000Nad 5 let20.444 - 1.039 26 3.833 15.181 366A. 4. FinanËna sredstva, razpoložljiva za prodajo 115.377 - 298 486 15.327 20.968 78.299A. 5. Izvedeni finanËni instrumenti, namenjeni varovanju 1.818 - - - 300 834 684A. 6. Krediti 1.743.388 9.403 146.304 62.979 373.967 649.454 501.282- krediti bankam 148.164 8.416 80.509 6.650 17.554 32.089 2.946- krediti stankam, ki niso banke 1.595.225 987 65.795 56.329 356.412 617.365 498.336A. 7. FinanËna sredstva v posesti do zapadlosti - - - - - - -A. 8. Opredmetena osnovna sredstva 6.442 - - - - - 6.442A. 9. Neopredmetena dolgoroËna sredstva 7.049 - - - - - 7.049A.10. Terjatve za davek od dohodkov pravnih oseb 8.234 - - - 4.753 3.482 -- terjatve za davek 4.753 - - - 4.753 - -- odložene terjatve za davek 3.482 - - - - 3.482 -A.11. Druga sredstva 12.924 - 5.171 73 2.203 5.477 -Skupaj sredstva (1) 2.132.693 37.155 288.551 64.880 405.384 730.913 605.810P. 1. FinanËne obveznosti, namenjene trgovanju 50.445 - 735 530 4.293 36.621 8. 266P. 2. Izvedeni finanËni instrumenti, namenjeni varovanju 91 - - - 2 83 6P. 3. FinanËne obveznosti, merjene po odplaËni vrednosti 1.904.250 314.602 362.442 226.414 240.346 638.574 121.872- vloge bank 948.099 4.255 77.490 165.975 153.391 525.836 21.152- vloge strank, ki niso banke 721.539 310.347 270.975 57.776 76.998 2.981 2.461- krediti bank 234.612 - 13.977 2.663 9.956 109.756 98.259P. 4. Rezervacije 1.071 - 193 45 194 396 243P. 5. Obveznosti za davek od dohodkov pravnih oseb 2.915 - - - - 2.915 -- obveznosti za davek - - - - - - -- odložene obveznosti za davek 2.915 - - - - 2.915 -P. 6. Druge obveznosti 10.306 - 8.071 665 1.439 96 35P. 7. Osnovni kapital 16.258 - - - - - 16.258P. 8. Kapitalske rezerve 61.885 - - - - - 61.885P. 9. Presežek iz prevrednotenja (502) - - - - - (502)P. 10. Rezerve iz dobiËka (vkljuËno z zadržanim dobiËkom) 78.383 - - - - - 78.383P. 11. »isti dobiËek/izguba poslovnega leta 7.591 - - - - - 7.591Skupaj obveznosti in kapital (2) 2.132.693 314.602 371.442 227.654 246.273 678.686 294.036Neusklajenost (1)-(2) - (277.447) (82.891) (162.774) 159.110 52.227 311.774Predvideni odliv na podlagi prevzetih in morebitnihobveznosti (3)5.765.607 - 166.284 92.011 553.393 4.253.026 691.184SKUPNA NEUSKLAJENOST (1)-(2)-(3) (5.765.607) (582.646) (465.313) (418.220) (255.909) (4.189.353) (9.709)SKUPNA KUMULATIVNA NEUSKLAJENOST (427.103) (892.416) (1.310.636) (1.566.545) (5.755.898) (5.765.607)UniCredit Bank · 2007 Letno poroËilo91


BanËna tveganjaBanËna tveganjaKreditno tveganjeKreditno tveganje je tveganje, da kreditojemalec svoje obveznostido banke v predvidenem roku ne bo izpolnil in poslediËno povzroËilbanki škodo. Kreditno tveganje je eno izmed najpomembnejšihtveganj za banke, zato banka temu podroËju posveËa še posebnopozornost. Kreditno tveganje, ki mu je banka izpostavljena, je rezultatposojilnih aktivnosti (posojila, garancije) in prodaje izvedenihfinanËnih instrumentov (pozitivna tržna vrednost transakcij).Upravljanje kreditnih tveganj je centralizirano za celotni podjetniškisegment ter deloma decentralizirano za segment poslovanjas prebivalstvom. Nadzor kreditnega tveganja je centraliziran.Upravljanje in nadzor kreditnih tveganj poroËajo Ëlanu uprave,odgovornemu za tveganja.Merjenje kreditnih tveganjPri merjenju kreditnega tveganja banka za pravne osebe izraËunavabonitetno na podlagi katere se ugotovi tudi verjetnost neplaËilaobveznosti. Poleg doloËanja bonitete se ocenjuje tudi izpostavljenostin možnost povraËila, ki temelji na predvidevanjih o razpoložljivihdenarnih tokovih.Kot je zgoraj omenjeno, banka oceni verjetnost neplaËila za vsepravne osebe s pomoËjo sistema, ki so ga razvili za potrebeskupine, vendar je prirejen oz. utežen glede na lokalne karakteristike.Boniteta je rezultat finanËnih podatkov, kvalitativnih dejavnikov inopozorilnih signalov. Banka uporablja 10 glavnih razvrstitev bonitetez dodatno delitvijo v podrazrede. Lestvica vkljuËuje skupno 28razliËnih bonitetnih razredov ali skupin, ki se zaËnejo z boniteto 1 inkonËajo z 10.Za poroËanje Banki Slovenije uporablja banka sistem vzporejanja, kije predstavljen v tabeli 1.Tabela 1: BanËna struktura doloËanja bonitete in vzporejanje ssistemom doloËanja bonitete Banke SlovenijaKlasifikacijastrankKvalitetaizpostavljenostKlasifikacijaBanke Slovenije1 Ne slaba A2 Ne slaba A3 Ne slaba A4 Ne slaba A5 Ne slaba A6 Ne slaba A7 Ne slaba B8 Slaba C9 Slaba D10 Slaba EBanka oblikuje slabitve naložb, ki temeljijo na dokazih, da strankazamuja s plaËilom. Portfelj vsak mesec pregleduje oddelek zanadzor kreditnih tveganj. V takšnih primerih banka pripravi izraËunpriËakovanih denarnih tokov in oceni potrebne slabitve.Politika banke o nadzoru limitov tveganjain o zmanjšanju tveganjaBanka upravlja z izpostavljenostmi in preverja koncentracijo kreditnihtveganj, ko so identificirani, za vsako stranko posebej in pa tudi poskupinah povezanih strank.Banka za segment podjetij uporablja sistem individualneodobritve kakršnekoli izpostavljenosti, medtem ko je za segmentaposlovanja s prebivalstvom delno uporabljen sistem ocenjevanjapo lestvici (t.i. Scoring) za nekatere banËne produkte. Odobritvetemeljijo na razpoložljivem denarnem toku strank potrebnem zaredno odplaËevanje kreditov ali drugih izpostavljenosti kreditnimtveganjem. Proces odobravanja je opredeljen v skladu s sklepibanke. Vsaka izpostavljenost pri segmentu pravnih oseb se redno, insicer vsaj enkrat letno, pregleduje in spremlja preko letnih pregledov.Poleg tega je banka osnovala tudi Oddelek za upravljanje s kreditnimitveganji, ki je odgovoren za meseËno spremljanje celotnegaportfelja, razdeljenega na razliËne segmente. Takšne analize soosnova za nadaljnje odloËitve o splošni kreditni politiki banke.92 2007 Letno poroËilo · UniCredit Bank


Kreditno zavarovanjeZ namenom zmanjšanja in upravljanja s kreditnim tveganjembanka svojo izpostavljenost do strank tudi zavaruje. Banka je izdalasmernice, ki doloËajo ustrezne vrste kreditnega zavarovanja. Nasplošno lahko razdelimo vrste zavarovanj za posojila in drugeizpostavljenosti kreditnim tveganjem na:• hipoteke na stanovanjske in poslovne nepremiËnine;• zastava premiËnin in vlog na vpogled;• zastava finanËnih instrumentov, kot so obveznice in delnice.DolgoroËna posojila in druge izpostavljenosti kreditnim tveganjemso na splošno zavarovane. Glede na smernice so tudi kreditnazavarovanja v segmentu pravnih oseb del pregleda, ki se izvaja vsajenkrat letno. Takšen pristop omogoËa banki boljši vpogled v trenutnostanje in dejansko vrednost kreditnega zavarovanja.Tabela 2: Izpostavljenost banke glede na strukturo doloËanja bonitetein kreditna zavarovanjaKlasifikacijastrankIzpostavljenost(EUR Mio)Zavarovanavrednost(EUR Mio)A 2.067,22 749,72B 15,03 7,96C 20,05 9,70D 5,73 1,78E 7,21 3,11Skupaj 2.115,24 772,27Na 31. 12. 2007 je banka imela 29,5 mio EUR terjatev do strank, kiniso bile poplaËane na dan zapadlosti. Za spremljanje neplaËil bankauporablja sistem, ki evidentira neplaËilo takoj ob zapadlosti, karbanki omogoËa uËinkovit sistem opominjanja.Politika banke o oslabitvah in rezervacijahBanka ima natanËno doloËen postopek in notranjo politiko ospremljanju portfelja ter o oblikovanju slabitev. Notranja politika jev skladu s strogimi predpisi Banke Slovenije. Banka ima sistemskopodporo za izvajanje slabitev za stranko ali za vsak posamezni poselstranke.Takšen postopek je predpisan v smernicah. Odgovornost zaspremljanje portfelja ima oddelek za nadzor kreditnih tveganj, ki vsajenkrat meseËno pregleda celotni portfelj banke.Glede na smernice ima banka 5 razliËnih kategorij slabitev zasegment poslovanja s prebivalstvom in 29 razliËnih kategorijslabitev za podjetja in stranke. IzraËun potrebne slabitev se pripravina podlagi preteklih izkušenj s stranko in priËakovanih prihodnjihdenarnih pritokov stranke.Kriteriji banke za oblikovanje oslabitev:• zamuda pri plaËilih glavnice, obresti in/ali drugih odpravnin,dogovorjenih po pogodbi;• težave z denarnimi tokovi;• kršitve posojilnih pogodb ali pogojev;• steËaj ali drugi pravni postopki, ki imajo lahko za posledico izguboza banko iz te naložbeZa stranke, ki zamujajo s plaËili, ima banka na razpolago še dvastatusa. Tako imenovana ››lista posebnih primerov« vkljuËuje stranke,ki še vedno odplaËujejo posojila, vendar z zamudo. V takšnihprimerih je oddelek Posebni primeri znotraj divizije za Upravljanje stveganji vkljuËen v neposredno delovanje s takšnimi strankami.Drugi status se imenuje ››postopek restrukturiranja in izterjave«in pomeni, da je pogodba s stranko preklicana ter da je oddelekPosebni primeri odgovoren za restrukturiranje ali razreševanjeizpostavljenosti stranke.Tabela 3: Izpostavljenost banke glede na strukturo doloËanja bonitetein oblikovane oslabitveKlasifikacijastrankIzpostavljenost(EUR 1.000)Oslabitve(EUR 1.000)A 2.067,22 1,87B 15,03 1,07C 20,05 4,84D 5,73 4,09E 7,21 6,89Skupaj 2.115,24 18,76Banka je uvedla tako imenovani ››dogodek neplaËila« na ravni strankza primere, ko katera od strank zamuja s plaËilom banki veË kot90 dni. Posledica takšnega dogodka je znižanje bonitete stranke inoblikovanje slabitve na ravni stranke ali posla.UniCredit Bank · 2007 Letno poroËilo93


BanËna tveganjaBanËna tveganjaOperativno tveganjeOperativno tveganje je opredeljeno kot tveganje izgub zaradineustreznih ali neuspešnih internih procesov, oseb in sistemov alizaradi zunanjih dogodkov. Med operativna tveganja prištevamo tudipravna tveganja, izkljuËena pa so strateška tveganja in tveganjaugleda.Banka zbira vse izgube in dobiËke, ki so povezani z dogodkioperativnih tveganj, z zneskom nad 100 EUR in vse potencialneizgube nad 10.000 EUR. Vsak dogodek operativnega tveganja seuvrsti v eno izmed sedmih kategorij tveganja po Baslu II (ORXstandard): notranja goljufija; zunanja goljufija; praksa zaposlenih izdelovnega razmerja in varstva pri delu; stranke, produkti in negativnaposlovna praksa; poškodbe fiziËnih sredstev; prekinitev poslovanja innapake v sistemih; izvedba, dostava in upravljanje procesov.Izgube operativnih tveganj se redno usklajujejo z raËunovodskimiizkazi.Namen analize scenarijev je oceniti stopnjo izpostavljenostiUniCredit Banke Slovenija d.d operativnemu tveganju. Scenarijese doloËi na podlagi analiz internih izgub, relevantnih zunanjihdogodkov, trenda kljuËnih indikatorjev operativnega tveganja,procesov, produktov in vrst dogodka. Upoštevajo se tudi izkušnjeoseb v vlogi upravljavcev operativnega tveganja in predlogi notranjerevizije ali ALCO.Ko so scenariji identificirani, oddelek za upravljanje z operativnimitveganji opravi razgovor z vodji divizij in z osebami v vlogi OpRiskManager. Rezultati v smislu najslabšega možnega scenarija, kritiËnihprocesov, predlogov ukrepov za zmanjšanje tveganja ali uËinkov natvegani kapital so opisani v poroËilih scenarijev, ki jih izdela oddelekza upravljanje z operativnimi tveganji.UniCredit Banka Slovenija d.d. namerava uvesti kljuËne indikatorjetveganja, ki odražajo profil operativnega tveganja banke in sopovezani z razliËnimi stopnjami tveganja. S takšnimi indikatorjitveganja bosta oddelek za upravljanje z operativnimi tveganji inALCO vnaprej opozorjena in bosta lahko doloËala predloge ukrepovza zmanjšanje tveganje, še preden bo operativno tveganje doseglobanko.Pravna tveganjaZa trenutna pravna tveganja so oblikovane rezervacije v skladu zocenjeno vrednostjo stroškov iz naslova litigacij.Poslovno tveganjePoslovno tveganje je opredeljeno kot neugodna in nepriËakovanasprememba obsega poslovanja in/ali marž, ki jih ni mogoËe pripisatidrugim vrstam tveganja, ter ima za posledico fluktuacijo dohodkovin stroškov brez upoštevanja izrednih postavk. Spremembe obsegaposlovanja so rezultat nepriËakovanega razvoja tržnih gibanj,nepriËakovanega vedenja strank ali novih tržnih udeležencev/produktov.IzraËun poslovnega tveganja temelji na modelu tveganja netoprihodkov (››earnings-at-risk model«), ki uporablja Ëasovno vrstoprihodkov in stroškov. Poslovno tveganje se trenutno spremlja znotrajprocesa planiranja tveganega kapitala.Tveganja iz naslova deležev inkapitalskih udeležb bankeUniCredit Banka Slovenija d.d. ni aktivna pri dolgoroËnih investicijahv delnice za svoj raËun z namenom, da bi realizirala kratkoroËnotrgovanje ali bistvena dolgoroËna poveËanja vrednosti. Deleži bankeso bodisi tesno povezani z njenim poslovanjem (SWIFT, LjubljanskaBorza) bodisi rezultati poskusov prestrukturiranja.Tveganja na podroËju nepremiËninUniCredit Banka Slovenija d.d. beleži le manjšo izpostavljenost napodroËju financiranja nepremiËnin in ne investira v nepremiËnine.Izvedeni finanËni instrumentiIzvedeni finanËni instrumenti so glede na posamezni finanËniinstrument razvršËeni kot pogodbe vezane na obrestno mero alipogodbe, vezane na tujo valutno.Razporeditev transakcij po preostalem obdobju do zapadlosti inrazvrstitev instrumentov na obrestne in valutne pogodbe se opravi pomednarodnih priporoËilih. V vseh kategorijah transakcij se razlikujemed takojšnjo prodajo (OTC) in prodajo na borzi, medtem ko se jeUniCredit Banka Slovenija d.d. v letu 2007 ukvarjala le z OTC posli.UniCredit Banka Slovenija d.d. je poslovni partner pri navadnihin strukturiranih transakcijah za podjetja in zapira odprte94 2007 Letno poroËilo · UniCredit Bank


pozicije tveganja, ki presegajo dopustne limite tržnih tveganj prispecializiranih oddelkih za trgovanje znotraj skupine UniCredit.UniCredit Banka Slovenija d.d. za optimizacijo bilanËne struktureuporablja tudi izvedene finanËne instrumente.Izvedeni finanËni instrumenti, ki so namenjeni varovanju denarnihtokov pred tveganjem, so razporejeni v poseben portfelj. MeseËnose izvaja test uËinkovitosti, v letu 2006 in 2007 ni bilo opazitineuËinkovitosti varovanja.Za namene upravljanja portfelja in tveganj se pogodbe vrednotijo napodlagi trenutnih cen z uporabo preverjenih in priznanih modelov.Tržne vrednosti izkazujejo pogodbene vrednosti na bilanËni dan,pozitivne tržne vrednosti pogodb OTC pa nakazujejo potencialnotveganje poravnave, ki izhaja iz ustrezne dejavnosti.Za namene obvladovanja kreditnega tveganja UniCredit BankaSlovenija d.d. od leta 2006 naprej uporablja nov modelizpostavljenosti stranke. V starem sistemu so se upoštevali izvedeniinstrumenti OTC (terminski posli, swap posli in kupljene opcije)glede na ustrezne pozitivne tržne vrednosti in dodatke, v odvisnostiod produkta, valute in zapadlosti, ki so podobni regulatornimzahtevam. Nov model temelji na pristopu simulacije. Izpostavljenostposamezne stranke se ocenjuje z izvedbo simulacije poti portfelja,ki temelji na posameznih scenarijih, ki predstavljajo volatilnost inkorelacije 3-letne serije dejavnikov tveganj. Limit uporabe je najveË97,5 % kvantil vsake toËke na mreži.UniCredit Bank · 2007 Letno poroËilo95


BanËna tveganjaBanËna tveganjaObseg izvedenih finanËnih instrumentov 31. 12. 2006Znesek pogodbPreostala zapadlostdo 1 leta od 1-5 let nad 5 let Skupaj pozitivno negativno BanËnaknjigaVrednotenje Znesek pogodb Vrednotenje(pozitivno)TrgovalnaknjigaBanËnaknjigaTrgovalnaknjigav mio EURVrednotenje(negativno)BanËnaknjigaTrgovalnaknjigaSkupaj 473 1.782 718 2.972 25 24 75 2.897 1 24 1 23od katerih: OTC produkti 473 1.782 718 2.972 25 24 75 2.897 1 24 1 23od katerih: produkti s katerimi se trguje na priznanih borzah - - - - - - - - - - - -A. Izvedeni finanËni instrumenti. vezani na obrestno mero 24 1.780 718 2.522 22 21 75 2.447 1 21 1 20OTC produkti: 24 1.780 718 2.522 22 21 75 2.447 1 21 1 20Dogovori o obrestni meri - - - - - - - - - - - -Terminski posli na obrestne mere - - - - - - - - - - - -Enovalutne zamenjave obrestnih mer 24 735 293 1.052 16 15 75 977 1 15 1 15Kupljene obrestne opcije - 523 212 735 5 - - 735 - 5 - -Prodane obrestne opcije - 523 212 735 - 5 - 735 - - - 5Drugi podobni insturmenti vezani na obrestno mero - - - - - - - - - - - -Produkti, s katerimi se trguje na priznanih borzah - - - - - - - - - - - -Terminske pogodbe na obrestno mero - - - - - - - - - - - -Opcijske terminske pogodbe, vezane na obrestno mero - - - - - - - - - - - -B. Izvedeni finanËni instrumenti, vezani na tujo valuto in zlato 448 2 - 450 3 3 - 450 - 3 - 3OTC produkti: 448 2 - 450 3 3 - 450 - 3 - 3Terminski posli na tuje valute 139 2 - 140 2 1 - 140 - 2 - 1Medvalutne zamenjave obrestnih mer - - - - - - - - - - - -Kupljene valutne opcije 155 - - 155 2 - - 155 - 2 - -Prodane valutne opcije 155 - - 155 - 2 - 155 - - - 2Drugi podobni izvedeni finanËni instrumenti - - - - - - - - - - - -Produkti, s katerimi se trguje na priznanih borzah - - - - - - - - - - - -Terminske pogodbe na tujo valuto - - - - - - - - - - - -Opcijske terminske pogodbe, vezane na tujo valuto - - - - - - - - - - - -C. Pogodbe podobnega znaËaja - - - - - - - - - - - -OTC produkti: - - - - - - - - - - - -Zamenjave, vezane na vrednostne papirje - - - - - - - - - - - -Kupljene opcije, vezane na vrednostne papirje - - - - - - - - - - - -Prodane opcije, vezane na vrednostne papirje - - - - - - - - - - - -Drugie pogodbe podobnega značaja - - - - - - - - - - - -Produkti, s katerimi se trguje na priznanih borzah - - - - - - - - - - - -Terminkse pogodbe, vezane na vrednostne papirje - - - - - - - - - - - -Opcijske terminkse pogodbe, vezane na vrednostne papirje - - - - - - - - - - - -96 2007 Letno poroËilo · UniCredit Bank


Obseg izvedenih finanËnih instrumentov 31. 12. 2007Znesek pogodbPreostala zapadlostdo 1 leta od 1-5 let nad 5 let Skupaj pozitivno negativno BanËnaknjigaVrednotenje Znesek pogodbe Vrednotenje(pozitivno)TrgovalnaknjigaBanËnaknjigaTrgovalnaknjigaBanËnaknjigav mio EURVrednotenje(negativno)TrgovalnaknjigaSkupaj 558 4.961 612 6.131 56 52 170 5.962 2 54 - 52od katerih: OTC produkti 558 4.961 612 6.131 56 52 170 5.962 2 54 - 52od katerih: produkti s katerimi se trguje na priznanih borzah - - - - - - - - - - - -A. Izvedeni finanËni instrumenti, vezani na obrestno mero 262 3.500 612 4.374 36 32 170 4.205 2 34 - 32OTC produkti: 262 3.500 612 4.374 36 32 170 4.205 2 34 - 32Dogovori o obrestni meri - - - - - - - - - - - -Terminski posli na obrestne mere - - - - - - - - - - - -Enovalutne zamenjave obrestnih mer 171 2.088 269 2.527 26 22 170 2.358 2 24 - 22Kupljene obrestne opcije 46 706 172 923 10 - - 923 - 10 - -Prodane obrestne opcije 46 706 172 923 - 10 - 923 - - - 10Drugi podobni insturmenti vezani na obrestno mero - - - - - - - - - - - -Produkti, s katerimi se trguje na priznanih borzah - - - - - - - - - - - -Terminske pogodbe na obrestno mero - - - - - - - - - - - -Opcijske terminske pogodbe, vezane na obrestno mero - - - - - - - - - - - -B. Foreign exchange contracts 254 1.454 - 1.708 19 18 - 1.708 - 19 - 18OTC produkti: 254 1.454 - 1.708 19 18 - 1.708 - 19 - 18Terminski posli na tuje valute 85 45 - 130 2 1 - 130 - 2 - 1Medvalutne zamenjave obrestnih mer 6 83 - 89 - - - 89 - - - -Kupljene valutne opcije 81 661 - 743 17 - - 743 - 17 - -Prodane valutne opcije 82 665 - 746 - 17 - 746 - - - 17Drugi podobni izvedeni finanËni instrumenti - - - - - - - - - - - -Produkti, s katerimi se trguje na priznanih borzah - - - - - - - - - - - -Terminske pogodbe na tujo valuto - - - - - - - - - - - -Opcijske terminske pogodbe, vezane na tujo valuto - - - - - - - - - - - -C. Pogodbe podobnega znaËaja 30 - - 30 - 1 - 30 - - - 1OTC produkti: 30 - - 30 - 1 - 30 - - - 1Zamenjave, vezane na vrednostne papirje - - - - - - - - - - - -Kupljene opcije, vezane na vrednostne papirje 15 - - 15 - - - 15 - - - -Prodane opcije, vezane na vrednostne papirje 15 - - 15 - 1 - 15 - - - 1Drugie pogodbe podobnega znaËaja - - - - - - - - - - - -Produkti, s katerimi se trguje na priznanih borzah - - - - - - - - - - - -Terminkse pogodbe, vezane na vrednostne papirje - - - - - - - - - - - -Opcijske terminkse pogodbe, vezane na vrednostne papirje - - - - - - - - - - - -D. Kreditni in ostali izvedeni finanËni instrumenti 12 7 - 19 1 1 - 19 - 1 - 1OTC produkti: 12 7 - 19 1 1 - 19 - 1 - 1Kreditna zamenjava - - - - - - - - - - - -Zamenjava skupnih donosov - - - - - - - - - - - -Ostali kreditni izvedeni finanËni instrumenti - - - - - - - - - - - -Ostali izvedeni finanËni instrumenti (blagovni) 12 7 - 19 1 1 - 19 - 1 - 1UniCredit Bank · 2007 Letno poroËilo97


BanËna tveganjaBanËna tveganjaPoštena vrednost finanËnih sredstevin obveznostiFinan»ni instrumenti, merjeni po poštenivrednosti z uporabo tehnike vrednotenjaSkupni znesek spremembe poštene vrednosti, ocenjen z uporabotehnike vrednotenja, ki je bil pripoznan v dobiËkih in izgubah vdoloËenem obdobju, je 239.156 evrov (leta 2006 je znašal 464.187evrov). Banka vrednoti vse OTC trgovalne instrumente z uporabotrenutnih tržnih podatkov neodvisnih finanËnih institucij, ki sepreraËunavajo v modelih vsebovanih v Wallstreet in Opus sistemu.Banka Slovenije zahteva, da vse banke ohranijo stopnjo skupnegaregulatornega kapitala (stopnja kapitalske ustreznosti), ki pomednarodnem dogovoru znaša najmanj 8 % tveganjem prilagojenihzneskov.Revizija je opravila vmesni pregled rezultatov zadnjih 9 mesecev.UniCredit Banka Slovenija d.d. je na podlagi tega upoštevala 9-meseËni rezultat v izraËun regulatornega kapitala ter s tem upoštevalapredpis o stopnji kapitalske ustreznosti.Tabela predstavlja kratek pregled sestave regulatornega kapitala instopnjo kapitalske ustreznosti konec leta 2006 in 2007.Finan»ni instrumenti, ki niso merjenipo pošteni vrednostiUniCredit Banka Slovenija d.d. meri vse obveznice in naložbe popošteni vrednosti. Poštena vrednost kreditov z variabilno obrestnomero, kot so EURIBOR ali LIBOR krediti, je knjigovodska vrednost.Banka odobri le manjši znesek kreditov s stalno obrestno meroin oceni, da je razlika med pošteno vrednostjo in knjigovodskovrednostjo nepomembna.Obvladovanje kapitalaUniCredit Banka Slovenija d.d. se znotraj procesa ocenjevanjaustreznega notranjega kapitala osredotoËa na ekonomski pogledusklajevanja ekonomskega kapitala (kapitalska zahteva) ssposobnostjo prevzemanja tveganja (lastniški kapital) v skladu zBaslom II.Ekonomski kapital se raËuna za preteklo obdobje, in sicer vsake trimesece, vendar se ga spremlja tudi znotraj letnega naËrtovanja.Kapitalska zahteva in ponudba kapitala se sËasoma razvijeta,zato banka zagotovi, da kapitalska zahteva (ki izhaja predvsemiz poslovnih naËrtov in napovedi o profilu tveganja v povezavi zmakroekonomskimi scenariji) ne preseže ponudbe kapitala ter da seponudba kapitala (na katero vplivajo zlasti naËrtovana poslovanja skapitalom in priËakovani dobiËki) ohrani na doloËeni ravni, da bi takovedno krila izraËunana tveganja.Banka mora hkrati upoštevati tudi regulatorni pristop. Regulatornikapital za kreditno, tržno in operativno tveganje (pod Baslom II) moraustrezati kapitalski zahtevi, medtem ko bilanËni kapital (temeljnikapital, dodatni kapital 1 in dodatni kapital 2) predstavlja dejanskikapital banke. Uprava banke redno spremlja kapitalsko ustreznost, kise poroËa Banki Slovenije vsake tri mesece.98 2007 Letno poroËilo · UniCredit Bank


Regulatorni kapital in stopnja kapitalske ustreznostiEUR 1.000 31. 12. 2007 31. 12. 2006Skupaj kapital (za namen kapitalske ustreznosti ) 129.137 138.104Temeljni kapital 129.137 138.104Vmesna vsota I 62.119 78.144VplaËani osnovni kapital 16.270 16.270Kapitalske rezerve 45.849 61.874DobiËek 70.793Vmesna vsota II 16.024 85.974Rezerve in zadržani dobiËek ali izguba 16.024 70.793(-) Ostale odbitne postavke temeljnega kapitala (19.799) (26.014)(-) Neopredmetena dolgoroËna sredstva (6.722) (7.049)(-) Druge deželno specificne odbitne postavke (13.077) (18.965)(-) Ostalo (13.077) (18.965)Razlika med izkazanimi oslabitvami in rezervacijami po MSRP in sklepom o ocenjevanju izgub 12.965 17.222Popravki vrednotenja RZP - 1.743Drugi PP 112Dodatni kapital I -Kapitalske zahteve 108.198 130.594Vsota kapitalskih zahtev za kreditno tveganje, tveganje nasprotne stranke in tveganje zaradi Ëasovneneusklajenosti plaËila in izroËitve96.618 128.279IzraËun tveganju prilagojene bilanËne aktive 84.203 113.029IzraËun tveganju prilagojene zunajbilanËne aktive 11.051 12.593IzraËun tveganju prilagojenih postavk za izvedene finanËne instrumente 13 37IzraËun kapitalske zahteve za tveganje nasprotne stranke 1.352 2.620Vsota kapitalskih zahtev za pozicijsko tveganje, valutno tveganje in tveganje sprememb cen blaga 11.579 2.164Pozicijsko tveganje, valutno tveganje in tveganje sprememb cen blaga izraËunano po standardiziranihpristopih11.579 2.164Dolžniški finanËni instrumenti 11.413 2.164Lastniški finanËni instrumenti - -Tuje valute 166 -Blago - -Druge in prehodne kapitalske zahteve - 151KoliËnik kapitalske ustreznosti (%) 9,55% 8,46%UniCredit Bank · 2007 Letno poroËilo99


UniCredit Banka Slovenija d.d.Šmartinska 140, 1000 LjubljanaRegistered at the District Court of Ljubljanaunder entry no. 1/10521/00Registred number 5446546Tax number SI59622806Share capital 16,258,321.26 EURMember of UniCredit Group


The art experience2007 was a formative year for the Bank’s international activities inculture. It was a year that saw intense engagement in all the territories inwhich we operate.We believe that culture, when viewed as a strategic resource, canbring tremendous value and foster new ideas. These new ideas arefundamental to innovation and sustainable social and economic growth.In this year’s annual report, we have decided to focus on images of theinternational events which comprised our work with important partnersin art and culture rather than on individual pieces from our collection.Notable among these were events in partnership with the EducationDepartment of the Castello di Rivoli Contemporary Art Museum.These initiatives involving the broader public in art experiences illustratethe importance UniCredit Group attaches to entertaing and promoting anactive dialogue with the communities in which our Group operates.The large gatherings pictured in this report were held in city squares andmuseums and involved thousands of people. What you see is a singlespontaneously generated expression of thousands of hands unitedtogether in a joyful and creative concert.Contact with international artists and leading facilitators of culture,through diverse languages, styles and techniques, shows how artstimulates the development of relational and cognitive skills and thepotential of the individual. Art, above all, generates significant positiveenergy which can connect people, bridge differences and promotedialogue. It offers an extraordinary repertoire for learning, exploring,experimenting and interpreting the present to build the future.Art brings people together.Which is why we say: ART TALKS.2007 Annual Report


IntroductionPreface by the Chairman of theSupervisory BoardRe-branding fromBank AustriaCreditanstalt toUniCredit Bank wasstrongly supportedby employees andcustomers as shownby preliminary resultsof the attained brandawareness study.To our shareholders:We have left behind a successful year.Thanks to you as well.Despite demanding market conditionsand several internal changes, 2007 hasbeen a successful year for UniCreditBanka Slovenija d.d. We are pleased toreport that, despite the challenges wefaced, the Bank has achieved a 40%increase in post-tax profits in the euro’sinaugural year and it has reaped positiveresults from the re-branding in Slovenia.Such results lead us to two importantconclusions:First, UniCredit Banka Slovenija d.d. hada year of excellent performance despitethe introduction of the euro and the lossof arbitrage business.Second, re-branding from Bank AustriaCreditanstalt to UniCredit Bank wasstrongly supported by employees andcustomers as shown by preliminaryresults of the attained brand awarenessstudy.The new brand is supported by thelargest international banking networkin Central and Eastern Europe and it isdestined for success.UniCredit Group’s network currentlycomprises 3,700 branches and outlets,where more than 76,000 employeesserve approximately 27 millioncustomers.The major challenge ahead of us is tomaximize the opportunities of Europe’sleading player in financial services andto unlock the full growth potential in thelocal market. It is our belief that this canbe achieved only if and when UniCreditBanka Slovenija d.d. extends its valueproposition beyond the successfulcorporate and investment banking.Hence, we have adopted a bold businessplan, where retail banking is the coreof our focus. According to the plan, theBank’s retail network should double by2010 and give us the opportunity togrow in that segment.Let me also highlight that a bank is notonly steered by figures, benchmarksand projects, but to a large degreeby values. By discussing the IntegrityCharter, which contains the sharedvalues forming the foundation of ourGroup’s identity, we put strong emphasison values. Also, we believe that theIntegrity Charter has to be the foundationfor cooperation with all our majorstakeholders.Finally, I would like to conclude byexpressing gratitude to the managementand the employees of UniCredit BankaSlovenija d.d. for their commitment,hard work and excellent results in102 2007 Annual Report · UniCredit Bank


2007, performed under difficult marketconditions. We hope that this is justthe beginning of a long-lasting successstory.Federico GhizzoniChairman of the Supervisory BoardUniCredit Banka Slovenija d.d.UniCredit Bank · 2007 Annual Report 103


IntroductionStatement by the Chairmanof the Management BoardWe have justifiedour good namewith good results.Dear ladies and gentlemen, respectedbusiness partners,The year 2007 certainly will beremembered as a “banner year” inSlovenian economic history as a 6 %growth in the economy is the highestachieved since Slovenia’s independence.Additionally, it should not be overlookedthat in the same year Slovenia became amember of the European Monetary Unionand adopted the euro as its nationalcurrency. Important tax incentives wereintroduced, which, in turn, influencedthe growth of net salaries and thushigher personal spending. At the sametime, during the second half of the year,the Slovenian market was affected bythe world financial crisis, and, for theBank, changing the name from BankAustria Creditanstalt d.d. Ljubljana toUniCredit Banka Slovenija d.d. was ofgreat significance.It is difficult to assessaccurately which of the before mentionedevents had the most impact duringthe past year, but certainly we believethat adoption of the euro was a greathistorical step for the Slovenian economyand state as such. The introductionof a new currency caused banks tolose a portion of non-interest income,resulting from currency risk, foreignexchange operations, derivative financialinstruments, and payment transactions.On the other hand, we are aware that,in today’s competitive environment,obtaining a strong and stable internationalcurrency is a great economic advantage.Additional perks of a new currencyare faster transactions with lower risk,especially when dealing with foreignexchange operations, internationalpayments, the elimination of multipleforeign currency accounts, andstreamlined price comparison of goodsand services.In 2007 we generateda fourty percenthigher profit than thepreceding year.On the basis of these findings and ouractivities predominantly on the Slovenianmarket, we are happy to inform you thatwe have achieved outstanding results,surpassing even our internally set goals.The Bank’s 2007 results exceeded thoseof the preceding year and exceededthose of our domestic competitors. Thenet profit generated by the Bank wasalmost 40 % higher than a year beforeby which net interest income was almost9 % higher, and non-interest incomeeven 30 % higher. Notwithstanding thefact that the Bank increased the numberof employees and faced additional costsrelating to the name change as well aspreparations for Basel II, the increase ofoperative costs was only eight percent,which means that increasing costs weremore than once lower than the yearbefore.104 2007 Annual Report · UniCredit Bank


While analyzing the balance sheet, wecan establish that the volume of assetsremained more or less unaltered, whilemajor changes occurred within it.These changes are primarily connectedto the adoption of the euro and theimplementation of the European CentralBank monetary policy. Monetaryinstruments of the Bank of Sloveniawithdrew from the market and Europeanones were introduced. For UniCreditBanka Slovenija d.d. this meant anessential decrease of the securitiesportfolio and receivables towards theBank of Slovenia and other banks,reduction of its obligations to foreignbanks, while simultaneously an essentialincrease of its receivables to the nonbankingsector namely the generalpublic by more than 40 % , and also tocompanies, by roughly 24 %.At this credit growth, the Bank proceededfrom two direct goals: thorough creditrisk analysis and return on equity. TheBank did not take part in financing largetakeovers, which were realized on theSlovenian market. From this perspective,growth of this type was smaller than inthe total banking sector, especially ifwe compare credit growth for differentbusiness needs. We are convinced thatthe Bank’s decision on acceleratedfinancing of the needs of the generalpublic, especially in the field of realestate, is correct. We believe that thisgrowth still stands on a firm economicfoundation and stable householdincome, which represents the basis forUniCredit Bank · 2007 Annual Report 105


IntroductionStatement by the Chairmanof the Management Boardcorrect repayment of loans. Althoughretail borrowing has been increasing forthe past three years and has reachedapproximately 20 % of the GDP, thisshare lags far behind the EU average.For a rapid credit growth in generalpublic financing and a slight reductionin loans to corporate clients, the Bankused the sources of the non-bankingsector, which increased by 21 %, as wellas got into debt to banks abroad (thelatter decreased by 16 %). It also shouldbe mentioned that last April and Junethe Bank launched a new instrument tothe market. The so called “structureddeposit” was well accepted by investors.This provides the Bank with a basis to bepresent on the market with these formsas well as with certain modifications inthe future as well.Due to changed market conditions,mainly in the field of implementationof policy of interest rates, whichwere increasing until June, the Banksuccessfully offered companies theinstrument of hedging interest rate risk.By doing so, the Bank, with its scope oflike products, exceeded even its 50 %share on the Slovenian market.The Bank wants tomaintain its leadingposition in the areaof derivative financialinstruments in thefuture as well.With positive results produced by theSlovenian capital market, the Banksucceeded in increasing operationswith custody accounts considerably,so that the value of assets of this kindreached almost 1.3 billion euros. TheBank achieved outstanding results alsowith operations on the Ljubljana StockExchange, where it took second placeamong all brokers in terms of the volumeof operations. It was a great honour andacknowledgment that on the first biddingopened by the Republic of Sloveniafor issuing euro bond in the amount of1 billion euros, as the first bank fromSlovenia, UniCredit Banka Slovenija d.d.together with Societe Generale of Parisand Dresdner Kleinwort, successfully coorganizedthe issue to the satisfaction ofthe issuer, investors and co-organizers.On the other hand, the Bank successfullyorganized the issue of the Droga Kolinskabond in the amount of 30 million euros.as well as from the balance sheet, thatour strategy of collaborating with ourpartners, understanding their needs intheir competitive struggles at home andabroad, and in seeking new financialsolutions within the financial groupUniCredit Group, proved to be thecorrect approach. A substantial partof the results derives from strong andever closer cooperation with existingpartners as well as with new ones.The foundation of all of this is furtherconfidence in the Bank and its qualityservices. From this information, it maybe seen that these outstanding resultsare a consequence of a selectiveapproach to individual transaction types.It is our wish to maintain a leading rolein derivative financial instruments, andin cash management, where the Bankhas an important competitive advantageof a vast business network of the wholeGroup extending through 23 countries,which coincide with the structureof Slovenian international businesstransactions. In addition, we wereengaged in ever closer cooperation withUniCredit Leasing, which is organizedin the framework of the same Group,and we operated in one of the oldestand biggest funds, Pioneer Investments,which manages assets of over 290billion euros.Ladies and gentlemen, it is clear, basedon the information stated above andfrom the income and expense statement106 2007 Annual Report · UniCredit Bank


We proved that ourBank carries a trustworthy name.Regarding the above mentioned changeof the Bank’s name, which occurredon 1 September 2007, we are happyand proud to conclude that the name ofthe largest bank group in the EuropeanMonetary Union, UniCredit Group,enjoys absolute confidence also on theSlovenian market and simultaneouslyprovides a firm basis for new activitiesand products being planned for the nearfuture.We would like to thank all our businesspartners for confiding in us and for thecooperation of the Bank’s SupervisoryBoard, which has been presided over byMr. Federico Ghizzoni since May. Weare convinced that additional synergybetween knowledge and practice heldby the members of the SupervisoryBoard and employees of UniCredit BankaSlovenija d.d. forms the best foundationfor achieving new results and products inthe future.I would especially like to thank theemployees of the Bank, who showedby engaging and proved by results that,though they are well aware of escalatingcompetition, they also understand whatit means to be members of a largefinancial Group achieving outstandingresults. We are convinced that creativespirit and energy will be the bestguarantee for our colleagues to achieveand exceed set goals also in the future,for their personal growth in knowledgeand responsibility, as well as the bestopportunity for successful careeradvancement within the Bank and thewhole financial Group.In closing, we would like to remind youof one final thing, ladies and gentlemen,namely the ever growing meaningand importance of ethics and socialresponsibility in everyday operationswithin the Bank as well as with allpartners. The content of the IntegrityCharter, which is applied within thewhole financial Group, is becoming aspecial quality on the free and ever morecompetitive market. It also is becomingan additional responsibility, which isgaining importance as far as our partnersare concerned. We can not imagine atrue partnership without it anymore as itfurther consolidates confidence, which isa foundation of financial intermediation.In order for these relationships withinthe Bank to be even more transparentand successful by seeking compromisesolutions, the Bank appointed its ownombudsman, who is classified as good››corporate governance« according tointernational criteria. It is our wish thatthe majority of our partners also willintroduce a similar manner of operation,because such solutions stimulate thereduction of operational risk and bringabout general improvements in thequality of services. We sincerely thankour colleagues and business partners fortheir support in activities of this kind.We are convinced that together wesuccessfully will build the Bank’sreputation in the future.Dr. France ArharChairman of the Management BoardUniCredit Banka Slovenija d.d.Ljubljana, 20 February 2008UniCredit Bank · 2007 Annual Report 107


IntroductionAbout UniCredit Banka Slovenija d.d.Headquarters: Šmartinska 140SI - 1000 LjubljanaSloveniaTelephone: + 386 (0)1 5876 600Toll-free telephone number: 080 88 00Fax: + 386 (0)1 5876 684Website:E-mail:www.unicreditbank.siinfo@unicreditgroup.siMain activity:Other monetary intermediationActivity code:K/64.190Established in: 1991Chairman of the Supervisory Board:The bank is legally registered:Federico Ghizzoniwith the District Court in Ljubljanaunder Reg. No.: 1/10521/00Share capital:16,258,321.26 EURReg. no.: 5446546VAT ID no.: SI 59622806Settlement account: 01000-0002900092Swift:BACXSI22108 2007 Annual Report · UniCredit Bank


Governing BodiesSupervisory BoardName Board member DateMag. Helmut Bernkopf Chairman of the Supervisory Board until 24 April 2007Herbert Hangel Deputy Chairman of the Supervisory board until 24 April 2007Dr. Erhard Gehberger Member of the Supervisory Board until 24 April 2007Mag. Friedrich Racher Member of the Supervisory Board until 24 April 2007Mag. Martin Klauzer Member of the Supervisory Board until 24 April 2007Federico Ghizzoni Chairman of the Supervisory Board since 25 April 2007Herbert Hangel Deputy Chairman of the Supervisory Board since 25 April 2007Mag. Martin Klauzer Member of the Supervisory Board since 24 April 2007Mag. Wolfgang Edelmüller Member of the Supervisory Board since 24 April 2007Mag. Helmut Haller Member of the Supervisory Board since 24 April 2007Management BoardName Board member DateDr. France Arhar Chairman of the Management Board since 1 June 2003Dr. Heribert Fernau Member of the Management Board since 24 January 2004Mag. Stefan Vavti Member of the Management Board since 24 January 2004UniCredit Bank · 2007 Annual Report 109


110 2007 Annual Report · UniCredit BankOrganisational StructureIntroduction


Branch NetworkBRANCH LJUBLJANA BTCŠmartinska 140, SI-1000 LjubljanaPhone: + 386 (0)1 5876 757BRANCH LJUBLJANA WOLFOVAWolfova 1, SI-1000 LjubljanaPhone: + 386 (0)1 5876 418BRANCH LJUBLJANA CELOVŠKACelovška 150, SI-1000 LjubljanaPhone: + 386 (0)1 5000 540BRANCH LJUBLJANA TRŽAŠKATržaška 19, SI-1000 LjubljanaPhone: + 386 (0)1 2410 360BRANCH CELJEAškerËeva 14, SI-3000 CeljePhone: + 386 (0)3 4252 470BRANCH KOPERFerrarska 5a, SI-6000 KoperPhone: + 386 (0)5 6101 055BRANCH KRANJNa skali 1, SI-4000 KranjPhone: + 386 (0)4 2018 171BRANCH MARIBORSvetozarevska 6, SI-2000 MariborPhone: + 386 (0)2 2285 320BRANCH MURSKA SOBOTATrg zmage 5, SI-9000 Murska SobotaPhone: + 386 (0)2 5341 440BRANCH NOVA GORICATolminskih puntarjev 2b, SI-5000 NovaGoricaPhone: + 386 (0)5 3383 130BRANCH NOVO MESTOGlavni trg 20, SI-8000 Novo mestoPhone: + 386 (0)7 3737 400BRANCH PTUJUlica heroja Lacka 1, SI-2250 PtujPhone: + 386 (0)2 7980 340BRANCH TRBOVLJEUlica 1. junija 2, SI-1420 TrbovljePhone: + 386 (0)3 5612 561BRANCH VELENJEŠaleška 20a, SI-3320 VelenjePhone: + 386 (0)3 8987 300UniCredit Bank · 2007 Annual Report 111


IntroductionAchievements and Events in 20071 January 2007Fast Update of ATM Network OperationsAt the occasion of the transition to the euro,we connected our ATMs in the first possiblemoment and thus ensured a smooth supplyof euros for our clients within a few minutespast midnight.14 February 2007Collaborated with Two Banks to Coorganizethe First Issue of Euro BondsTogether with Societe Generale of Paris andDresdner Kleinwort, we co-organized thefirst issuance of euro bonds for the Republicof Slovenia in the amount of 1 billion euroson the euro market.March 2007First, Short-term Investment Productwith Guaranteed Principal Value Offeredin SloveniaWe proved our commitment toinnovativeness—which is also written in ourmission statement—with a new productstructureddeposit dedicated to investorswho require higher return but are unwillingto bear higher risks.April 2007The Word Slovenija to Become Part ofOfficial New NameWe obtained consent from the Governmentof the Republic of Slovenia to use the wordSlovenija in the Bank’s new name.25 April 2007Bank’s New Supervisory Board InstatedFederico Ghizzoni became the Chairman ofthe Supervisory Board. Three other membersand the Vice Chairman also resumed theirfunctions.May 2007Balkan Express Structured DepositOfferedWe offered yet another innovative product toour investors - a structured deposit, which, interms of return, is less risky than investmentfunds as repayment of the principal value isguaranteed. At the same time, the interestrate is not capped and is dependent uponstock growth of selected companies.June 2007Proposed New Name ConfirmedIn line with the re-branding process currentlybeing carried out across UniCredit Group,the General Meeting of Shareholders of BankAustria Creditanstalt d.d., Ljubljana acceptedthe proposal for the Bank’s new name -UniCredit Banka Slovenija d.d.June 2007New Internal, Joint AgreementAchieved and New Legal Document onSystemization AdoptedWe adopted a new systemization and a newjoint agreement, both of which contributed toa more transparent organization of work withinthe Bank and to regulation of rights andduties from the employment agreement.20 June 2007Organized Europa Forum EventThe main topic of the Europa Forum, wherewe hosted many respected experts in thefields of economics, law, and politics,focused on opportunities in the Central andEastern European markets.August 2007New Name Entered into Registry ofCompaniesThe Court order of 31 August 2007 for entryof the Bank’s new name into the registry ofcompanies.August 2007Built Strong Employee Morale atKrvavecWe invited all of our employees for afun-filled and adventurous social event atKrvavec. We introduced them to the Bank’snew corporate image, premiered the newcorporate ad campaign, but primarilyfocused on deepening relationships with ouremployees.1 September 2007New Name, New ChallengesOur Bank took over the name of thelargest banking network in Central andEastern Europe - UniCredit Group. There-branding project was accompanied bymany activities and by integrated corporatecommunications.112 2007 Annual Report · UniCredit Bank


September 2007Interactive Web Site UnveiledWe moved to the new web site www.unicreditbank.si, which contains state-ofthe-artdesign, rich content, and new userfunctionality, including access to secureon-line banking.1 October 2007Introduced Two New PioneerInvestments Umbrella FundsThe Slovenian investment market becamericher by 17 funds, which belong to twoumbrella funds -Pioneer Funds and PioneerP. F. (Portfolio Funds). The first covers theregions of Europe, America and developingmarkets, while the latter invests fundsglobally.October 2007Updated Cards with Chip TechnologyAs one of the first banks in Slovenia, andin line with EMV standard requirements,we conducted the replacement of all of ourbanking cards and introduced new ones withchips.14 November 2007Donated Funds for the Purchase of aFrench HornAs part of tradition, we have been supportingthe work of The Slovenian PhilharmonicOrchestra. This year we made a donation forthe purchase of a concert French horn andwe invited our partners to the year-end galaconcert of the Philharmonic Orchestra.30 November 2007Signed Third-in-a-row Agreement withthe European Investment BankWe signed the third-in-a-row agreement foran EIB credit line (EIB Global Loan) with therepresentatives of the European Investmentbank, this time in the amount of 20 millioneuros. The funds were dedicated to financingprojects of small and medium Sloveniancompanies.December 2007Bond Issued for Droga KolinskaWe organized the issue of Droga KolinskaŽivilska industrija d.d. bond, where the Bankacted as lead manager for a placement of 30million euros on the domestic market. Wethus demonstrated the distribution capacityof the Bank on the Slovenian bond market.December 2007New Year’s Donation for New BirthsWe made a donation to five local maternityhospitals for the purchase of newequipment.December 2007Named the Bank’s ombudsmanThrough an independent ombudsmanorganization, which was appointed forUniCredit Banka Slovenija d.d. in December,we strived to uphold equitable relationsand the Bank’s reputation, in line with theGroup’s value system.UniCredit Bank · 2007 Annual Report 113


Business ReportEconomic Environment in 2007After the strong growth of the Slovenianeconomy in 2006 (5.2 %), the growthin 2007 was even higher (roughly 6 %),so the economy experienced the highesteconomic growth since the country’sindependence. High growth was fuelled byexports and the construction sector, whichin 2007 experienced better than anticipatedconditions. The year 2007 was marked bynumerous reforms including: adoption of theeuro, tax reforms, continued privatization ofstate-owned companies and deregulationof the electricity market. However, theirpositive impact on the economy is yet to beseen.For the year 2008, ease of economic growthis expected due to reduced economicgrowth of main European trading partners,lower growth in domestic consumption andinvestments due to higher inflation forecaststhat have been building during the secondhalf of 2007 as well as the higher cost offinancing resulting from the credit crisis inglobal financial markets. Nevertheless, weexpect the trend of sound public financesand positive developments in the labourmarket to continue.On the demand side of strong economicgrowth in 2007, the most importantcomponent of growth was lively investmentactivity, in particular gross investmentsinto fixed assets growing by roughly 17 %annually and driven by high debt financingand good weather conditions. The growthof lending to non-banking sector reachedroughly 32 %. This robust growth in lendingis on one hand related to strong growth ofthe economy, lively activity in constructionssector, still relatively favourable interestrates and favourable effects of the taxlegislation changes on household income.Lending activity to non-banking sector alsoresulted in altered structure of the Bank’sbalance sheet towards higher share of loansto this sector to roughly 64 % of total assetswith further growth tendency.On the other hand, private consumption hasslowed to 2.7 %. The biggest contributorto private consumption was the real growthof salary net expenses (7.7 %), which waspartially caused by the tax reform and byhigher employment rates. At the same time,the unemployment rate fell to the lowestlevel so far, to 4.5 % as measured by ILOstandards. Public consumption experiencedthe same trend as private consumption,namely a slower annual growth compared tothe last year.Net exports had a negative impact on GDPgrowth because high growth of exports wasaccompanied by an even higher growth ofimports thus having a negative impact onthe current account deficit that widened to3.4 % of GDP.Strong expansion of industry and highproductivity continued and reached roughly10 % and 8 % respectively. They arethus considered the strongest generatorsof economic growth. The expansionin construction was marked also byexceptionally high growth of gross valueadded (17 %), accompanied by high growthin financial services (15 %), public servicesand trade in motor vehicles.Inflation has risen to 5.6 % in 2007compared to 2.8 % the previous year (whilethe average inflation was 3.6 %), whichcan be explained by a rise in energy coststhat pushed inflation higher by 0.9 basepoints, a rise in food prices (2.2 basepoints), services and euro adoption (0.3base points). The economy has successfullydefied the hike in energy and metals pricesas an effect of geopolitical tensions, highdemand from China and the hike in grainsprices. When commodities were pricedhigher in the final products, namely foodand services, the inflationary expectationsrose and demands for higher wages haveemerged at home as well as in otherEuropean countries.Apart from inflation, 2007 also will beremembered for the crisis in sub-primemortgage lending in the USA that has forcedmany banks and other financial investors towrite off significant amounts of their assets.This has caused banks to re-evaluate creditrisk and become reluctant to lend to eachMacroeconomic indicators for Slovenia, 2002 to 20072002 2003 2004 2005 2006 2007GDP (growth in %) 3.5 2.7 4.4 4.0 5.2 6.0Inflation (annual average in %) 7.5 5.6 3.6 2.5 2.8 3.6Public external debt (in % of GDP) 29.1 28.7 29.0 28.4 27.1 25.6Budget deficit (in % of GDP) -2.5 -2.8 -2.3 -1.5 -1.2 -Unemployment rate by ILO standards 6.4 6.7 6.3 6.5 6.0 4.5Source: Bank of SloveniaUniCredit Bank · 2007 Annual Report 115


Business ReportEconomic Environment in 2007other, which caused liquidity problemsin money markets in particular as well asin financial markets. In an environment ofhighly integrated global financial markets,the crises spilled over to Europe and othereconomies fast and left its trace in theform of higher refinancing costs and lackof financial resources also in Slovenia.UniCredit Banka Slovenija d.d., however,was in a position to weather the storm welldue to its good access to internationalmarkets and the strength of UniCredit Group.Despite facing the crisis on internationalmarkets, the Bank does not anticipateadverse implications for its operations andwill continue the activities in line with thegoals set for 2008.In summary, 2007 was exceptional inthe area of GDP growth due to strongexpansion of industrial production andconstruction supported by high debtfinancing. The economy has performed welldespite external shocks such as the highprices of energy, commodities and foodand the credit crisis in the USA. Lookingforward, we project the Slovenian nationaleconomy to be in good condition and ableto cope with the challenges of increasinginflation or the possible spill over effectsfrom negative developments in the globalfinancial markets. We also expect Sloveniato continue its favourable economic growth,albeit at a lower pace than in the previousyear.116 2007 Annual Report · UniCredit Bank


Business ReportMission, Vision and StrategyNew Name,New HorizonsOur name is the building block of ouridentity. It establishes us internally andrepresents us externally. A good name is notestablished overnight. Instead, it grows withus. We have been establishing it through ourknowledge, experience and well-foundedinvestments. We have been establishing itwith responsible behaviour and with manyyears of success for the entire UniCreditGroup. All of these endeavours have beenheading in the same direction - upwards. Agood name is not solely a matter of size orsuperior business performance but ratheris reflected in the trust and satisfaction ofour clients, shareholders and employees. Ittakes a long time to develop a good name;and it is far easier to damage it.We have adopted our new name withwisdom and responsibility. It is wellrecognized both at home and abroad; itis the name of one of the largest financialgroups in Europe, connecting more than9,000 branch offices in 23 countries andrepresenting security and stability for morethan 40 million customers. It provides themwith confidence and ensures fast and safefinancial solutions for an easy and securepath towards the future.We have put a new name on the outsidebut we have remained the same or evenbetter on the inside. An established namewith a strong tradition and reputation is acommitment for us to preserve the values,to justify and further build a good name forthe Bank and the entire Group. This can beachieved through successful performance,development of a better selection ofproducts and services, by stimulatingemployee potential and with awarenessof the needs of our customers and oursurroundings.At UniCredit Banka Slovenija d.d. we wantto become the first name you think of, whenthinking about your tomorrow.Nearly three years after the creation ofUniCredit Group in 2005, we can state withpride, that UniCredit Banka Slovenija d.d.truly has become a member of a uniquelyEuropean banking group with the largestnetwork and regional coverage in Centraland South Eastern Europe. As a Group, weadhere to commonly held principles and adistinct set of values. We adopt these in ourefforts to attain our vision and confirm ouridentity.Mission and VisionOur mission is to create a new way ofbanking by thriving to serve our clients withinnovative solutions. Our vision is basedon our determination to focus on peopleas individuals. Our aim is to enhance theirpotential and make their plans and visionscome true.ValuesOur set of values is based on integrity as acondition of sustainability, which makes itpossible to transform profit into value for allour stakeholders. Within UniCredit Groupwe share the following values as stated inour Integrity Charter: fairness, transparency,respect, reciprocity, freedom of action andtrust. We see adherence to these values as aprerequisite for maintaining the confidenceplaced in the Bank and the Bank’sreputation.Value-basedmanagement andtransparency of resultsThe overall management and steering ofthe Bank is based on the principles ofvalue-based management. In line withUniCredit Group the Bank implementedEVA (Economic Value Added) as the mainperformance measure. EVA measures theprofit contribution in excess of the costof capital and is applied not only at theoverall bank level but also is taken intoconsideration in individual loan decisions.EVA today is a standard performancemeasure, which combines both growth viathe development of risk weighted assets andthe capital allocation needed to generateprofitability enhancements as value drivers.The Bank consequently aims to ensure thatthe capital gets invested into the businesssegments, product areas and services wherethe highest added value can be generated.Transparency on value creation and/or valuedestruction is of utmost importance forsustainable results.Divisional businessmodelUniCredit Group’s business model is basedon specialisation in specific customersegments. For business activities such asinvestment banking, trading, internationalcorporate banking or asset management, itis clear that customer needs, service modelsand market segments are more closelyrelated than the national market practice.However, we also believe that this appliesto retail banking in an environment ofindustrialised banking while still takingUniCredit Bank · 2007 Annual Report 117


Business ReportMission, Vision and Strategyinto account local market specifics.It goes without saying that our mainobjective is to meet every client’s personalneeds in line with the idea that allbusiness is local through discretionary orstandardised products. However, in creatingand developing products we try to unlockthe economies of scale on the revenue aswell as on the cost side and profit frommembership in the Group. Consequently,also in our bank, the organisational set upfollows the group standards and allowsknow-how and best-practice transferthroughout the Group.It also is seen as a competitive advantageto be able to serve customers through anextensive network of leading local banks.We are able to support international groupclients operating in the Slovenian marketas well as Slovenian customers in theirattempts to extend their business abroad.In trading and investment banking, we profitfrom the competencies and placing power ofUniCredit Markets & Investment banking.relationships and take account ofcustomer satisfaction in our incentivesystem.• Diversity: We want to use all ouremployees’ various talents despiteage, gender, religion, health or sexualorientation.• Corporate citizenship: We want to be acommitted and valuable member of localcommunities by supporting them throughour corporate sponsorship activities.• Ecological sustainability: We attach greatimportance in our current business toecological sustainability. We encourageand support an awareness of theinterdependence of environmental topicsand banking business.• Training, encouragement and ourincentive systems are intended to enableour employees to take an entrepreneurialapproach while simultaneously fosteringwork/life balance.In asset management, we benefit from theexpertise of Pioneer Investments - a globaltop player.Global Banking Services, a global UniCreditdivision, supports us in maintaining costefficiency and unlocking synergies via ITharmonisation, group-wide procurement orprocess design.From profit to valueUniCredit Banka Slovenija d.d., in line withthe Group’s focus, believes that financialtargets can only be achieved throughsustainable development with the followingprinciples in mind:• We aim to build long-term customer118 2007 Annual Report · UniCredit Bank


UniCredit Bank · 2007 Annual Report 119


Business ReportFinancial ResultsIn 2007, UniCredit Banka Slovenija d.d.achieved the best results in its history withpre-tax profits of 19.71 million euros. Thismeans an increase of 4.96 million euros, or33.6 %, which is remarkable, consideringthat 2007 was the first business yearfollowing the euro’s introduction. It wasa major challenge, in 2007, to offset theincome losses from the euro’s introduction(international payment fees as well as FXconversions and Central Bank arbitrage) withadditional, preferable non-risk income.In 2007, the net financial and operatingincome rose by 7.42 million euros, or 15.3%, to 56.03 million euros with improvedresults in all business segments. Fortunately,the growth of the income componentsalso was in line with the strategy: risk-freefee and commission income showed theabsolute highest growth (3.94 million euros);additionally, the risk-free deposit marginsgrew in absolute terms by 3.75 million euros,supported by the yield curve development.At the same time, administration costs anddepreciation increased by 3.56 million euros,or 12.5 %, to 32.01 million euros with themajor increase in staff expenses stemmingfrom the increase in number of employees.Improved credit risk management andgeneral sound economic situation led toslightly lower loan impairment and provisionswhich were 4.65 million euros, compared to4.76 million euros in 2006.In line with the principles of valuebasedmanagement, the Bank focusedon a structural improvement of its result.Consequently, the Bank avoided enteringinto transactions below the economicminimum margin and had a special focuson low capital consuming business. Theseefforts were rewarded by achieving an EVA*(calculated based on UniCredit Group’smethodology) of 7.2 million euros. Thereturn on post-tax equity improved from7.67 % in 2006 to 9.77 % in 2007.* EVA (economic value added) is the key measureof UniCredit Banka Slovenija’s value creationcapabilities. It covers the absolute contribution toresults by the entire bank, the business segments orthe subordinated levels, which exceed or fall shortof the cost of capital (excess corporate profit). Thecost of capital, pursuant to the capital asset pricingmodel (CAPM), is the (minimum) return whicha shareholder can expect from UniCredit BankaSlovenija d.d. by virtue of its specific business andrisk profile (as opposed to the fully diversified marketportfolio).10.0%9.5%9.0%8.5%8.0%7.5%7.67 %The Income statementfor 2007The interest net income increased year onyear from 32.90 million euros to 35.75million euros, which is an 8.7 % growth rate.In the customer business the margins on theasset side were further under pressure andEVA generating business was difficult to findin segments such as key accounts.Increased business volumes and goodmargin contributions on the assets sideare deriving from business with retail andAnnual return on post-tax equityYear 2006 Year 20079.77 %mid-market clients. However, the upwardshifts of the euro yield curve supported anincrease of the margins on the liability side.The flatness of the euro yield curve gaveonly limited potential to create a mismatchresult out of yield curve positioning in theAsset/Liability management. However, ALMhad good net interest income contributionsout of the liquidity positions of the bank.The fee and commission net income grewin 2007 by 30 % and reached 17.08 millioneuros (2006: 13.15 million euros).Tailor-made solutions as well as the Bank’sinnovative approaches, resulted in theincrease of attractive products and servicecompetence. Security and custody fees arestrongly above the previous year and in totalamount to 3.61 million euros (2006: 2.57million). Especially the inbound custodybusiness (assets under custody amountedto 1,218 million euros) and the equitybrokerage turned out to be a good sourceof income for the bank. Also the investmentfund fees (assets under management: 63.51million euros) contributed with upfrontand trailer fees. In 2007, the Bank enteredinto a new business field - it originatedtwo bond issues. Loan and lending relatedfees increased from 3.24 million euros in120 2007 Annual Report · UniCredit Bank


10080P & L income5% 6%27% 30%Finance. Additionally, the Bank reports inthis position, write-offs of loans carriedat effective interest method and theirrecoveries, both summing up to 0.12million euros net loss (2006: 0.14 millioneuros gain). The reason for the lower resultin 2007 is the IFRS adoption with strictpolicy on write-offs. Recoveries of writtenoffloans derive in both years from loanswritten-off before IFRS adoption.604020068%64%Share 2006 Share 2007NET INTEREST INCOMENET FEE INCOME TRADING RESULTOTHER INCOMEThe activities of the treasury departmenttrading on the Bank’s own account arereflected in the profit and loss statement inpositions 9, 10 and 11. The trading resultdoubled in 2007 and reached 3.76 millioneuros after 1.84 million euros in 2006. TheBank strongly profited from the anticipatedSlovenian credit spread compressionafter introduction of the euro. However,positioning on the yield curve also resultedin significant profits. Moreover, the activitieson the foreign currency markets contributedpositively to overall trading results.2006 to 4.98 million euros in 2007. In thecorporate business, the Bank approximatesthe effective yield concept by accruing feesin interest net income; however, it doesnot do the same for retail business. In bothbusiness segments, the appropriate systemsupport will be implemented in 2008.Besides increased business, the fact that theBank insures fewer loans than in the past isanother reason for the positive development.Consequently, lending fee income in retailincreased by 85.1 %. Payment and foreigntrade related fees increased in 2007 from5.28 million euros to 5.52 million euros.Given the increased transaction volumes,the profitability of the business unfortunatelydeclined after introduction of the euro, asmost former foreign payments are nowdomestic payments. The focus on innovativesolutions for clients with derivativeinstruments launched in 2005 further paidoff in 2007. The Bank achieved a net feeresult of 2.73 million euros, which is 0.94million euros more out of this business thanin 2006.In 2007, the Bank reports a loss of 0.75million euros in realized gains and losseson financial assets and liabilities notmeasured at fair value through profit andloss (2006 saw a profit of 0.69 millioneuros in this same segment). Within thisposition, the Bank reports the result of thesale of available for sale bonds. In 2007,the Bank decided to participate in thebuy-back of Republic of Slovenia bondsat favourable market rates and recorded aloss of 0.6 million euros. The interest ratehedges related to these positions werenot terminated at that time. Economically,the Bank profited by participating in thosebuy-backs organized by the Ministry ofWithin position “Gains and losses onderecognition of assets other than held forsale”, the Bank reports gains and losses onderecognition of its property and equipmentas well as intangible assets.Naturally, the increased business also isreflected in increasing costs. Expanding thenumber of employees as well as openingnew branches to increase regional presencefor retail and corporate business and theinvestment in IT infrastructure lead to higherexpenses. Also, the re-branding, which tookplace in 2007, was supported by heavymarketing activities. However, the Bankmanages its administrative costs tightly andcautiously. The administration costs amountto 28.84 million euros (2006: 25.52 millioneuros) in total, which is an increase of 3.32million euros or 13 %.UniCredit Bank · 2007 Annual Report 121


Business ReportFinancial ResultsStaff expenses increased in 2007 by 2.30million euros to 15.42 million. The increasein number of employees accounts for themajority of this increase. By the end of2007, the Bank employed 450 full-timeemployees (FTE) (2006: 417 FTE) whilein 2007, on average, 434 FTE (2006, onaverage: 405 FTE) worked for the Bank. Forthe first time in 2007, the Bank recognisedexpense of unused holidays, which amountsto 0.45 million euros.Other administrative costs increased in2007 by 1.02 million euros to 13.42 millioneuros. On the one hand, marketing costsincreased by 1.68 million euros to 2.89P & L expensemillion euros, due to the re-branding of theBank, while communication costs remainedat the same level - 1.28 million euros. Onthe other hand, IT related costs decreased by1.59 million euros to 2.18 million euros, asthe euro introduction costs in 2006 were aone-off cost.Depreciation increased from 2.92 millioneuros in 2006 to 3.16 million euros in 2007.The Bank tries to reduce the impairmentlosses on financial assets by state-of-the-artrisk management techniques and a focus onclients with high credit worthiness. In 2007,the impairment of assets including provisionsamounts to 4.31 million euros (2006: 5.41million euros) which is a decrease of 1.10million euros or 20.4 %.In 2007, the Bank achieved a pre-tax profitof 19.71 million euros, compared to 14.75million euros in 2006, which is an increaseof 33.6 %.Within the tax expenses of 4.53 millioneuros (2006: 3.82 million euros), the Bankrecords current taxes of 3.52 million euros(2006: 8.95 million euros) and a deferredtax of 1.01 million euros (2006: profit of5.13 million euros).The net profit for the financial year amountsto 15.18 million euros after 10.93 millioneuros in 2006, which is an increase of 39 %.10016% 12%The Balance Sheetfor 20078060402009%9%37%36%42%39%Share 2006 Share 2007PROVISIONSDEPRECIATIONOTHER ADMIN. EXPENSESTAFF EXPENSEUniCredit Banka Slovenija d.d. has beenamong the fastest growing banks in recentyears and has more than doubled totalassets since 2003. However, the drasticreduction in the corporate customer marginson the asset side, which are often alreadybelow the Bank’s internal minimum marginlevels, as well as the implementation ofvalue-based management, lead to a focuson profitable rather than unlimited growthin the customer business. In addition,with the euro introduction, the Bank ofSlovenia stopped the issuance of depositoryreceipts in which UniCredit Banka Slovenijad.d. strongly invested in the past (yearend 2006: 187.78 million euros) withthe intention to achieve arbitrage profits.Lacking an investment alternative with thesame risk profile, the Bank reduced itsdeposits due to banks after the maturityof the depository receipts. Also, the loans122 2007 Annual Report · UniCredit Bank


and receivables to banks were lowered by230.50 million euros because of limitedrisk/return profile. Consequently, total assetsdecreased in 2007 by 54.60 million eurosto 2,132.69 million euros.In line with international practice, the localInternational Markets unit takes interestrate positions via interest rate swaps (IRS).The interest rate swap market normallypays higher interest rates than the bondmarket and additionally consumes minimalliquidity. Bonds are primarily bought forcomplying with the liquidity regulation ofthe Bank of Slovenia or with the intentionto run a credit risk position, which involvesthe reduction of the interest rate riskembedded in the bond via payer IRS. Foraccounting reasons, it is preferable to runsuch positions in the trading portfolio.Consequently, also in 2007, the financialassets held for trading significantlyincreased by 71.84 million euros to 189.26million euros. The position includes, inaddition to debt instruments, the positivemarket value of financial derivatives, whichaccounted for 54.26 million euros (2006:24.13 million euros) by the end of the year.This increased market value is the result ofan increase in derivatives business, whichmainly is customer driven, along with astrong increase in the euro yield curve in2007.Available for sale financial assets werereduced in 2007 from 157.86 million eurosto 115.38 million euros. The positionconsists of the Bank’s equity model bookinvestment as well as convergence positionsthe bank entered into ahead of the eurointroduction in Slovenia.Loans and receivables to non banks roseby 328.60 million euros (2006: 258.76million euros) and reached 1,595.23 millioneuros by the end of the year. Out of this,1.084 million euros relates to the corporate10090807060504030201003% 3%17%58%7%5%9%Assetssegment, the remaining 511 million eurosto the retail segment. The high growth in theretail segment is the result of the increasedfocus of the Bank on the retail business.Loans and receivables to banks decreasedfrom 378.78 million euros in 2006 to148.16 million euros in 2007.Within the held to maturity investments,UniCredit Banka Slovenija d.d. reported in2006 its holdings in depository receiptsissued by the Bank of Slovenia. With theabolishment of this instrument after theeuro introduction, the Bank did not allocateassets to the held to maturity portfolio.The increase on the asset side was mainlyfinanced by financial liabilities measured7%75%5%9%0%1% 1%Share 2006 Share 2007OTHERLOANS TO BANKSLOANS TO CUSTOMERSHELD TO MATURITYAVAILABLE FOR SALEHELD FOR TRADINGCASH AND OTH. BAL. WITH CBat amortized cost, which decreased from1,999.90 million euros in 2006 to 1,904.25million euros by the end of 2007. Loans anddeposits from customers increased from594.16 million euros to 721.54 millioneuros whereas the loans and deposits frombanks decreased at the same time from1,405.74 million euros to 1,182.71 millioneuros or by 16.2 %.Financial liabilities held for trading morethan doubled in 2007 to 50.45 millioneuros. The position comprises solely ofthe negative market value of derivativeswhich is a consequence of customer drivenbusiness.The shareholder’s equity increased inUniCredit Bank · 2007 Annual Report 123


Business ReportFinancial ResultsLiabilities100907% 8%0% 1%13% 11%80706027%34%50403052%44%CAPITAL20OTHERLOANS FROM BANKS1001% 2%Share 2006 Share 2007DEPOSITS FROM CUSTOMERSDEPOSITS FROM BANKSHELD FOR TRADING2007 by the profit carried forward from2006. In order to finance future growth andto stay in line with the capital adequacyregulations set by the Bank of Slovenia, theBank will retain the full 2007 profit and notpay dividends. The shareholder’s equityamounts to 163.62 million euros (2006:146.87 million euros). In line with validregulations, UniCredit Banka Slovenija d.d.voluntarily had an interim audit by KPMGwith an unqualified opinion and allocatedthe nine month profit to eligible capital forcapital adequacy. The capital adequacyratio amounted to 8.5 % by the end of 2007(2006: 9.5 %).124 2007 Annual Report · UniCredit Bank


Bank’s Segment Performance ReviewRetail and SmallBusiness BankingClient segmentsRevenuesGeneral overviewThe year 2007 at UniCredit Banka Slovenijad.d. was characterized by an increased focuson retail business. In addition to an annualrevenue increase of 34 %, there also were anumber of important achievements. Someof the most important of these achievementswere: establishment of stable and ambitiousmanagement and sales staff; implementationof segment and product specialists’functions; introduction of a structuredsales approach; and the beginning of are-engineering project of key businessprocesses.302520151052.65235614.6363.12365619.459PRIVATE CLIENTSBUSINESS CLIENTSAlso, strong customer satisfaction ratingswere achieved, preparing the ground forfurther expansion of retail banking in comingyears. Our focus has been on satisfyingcustomer needs and finding the optimalsolution to these needs.With more than 100 sales representatives in14 branches across the country and with thesubstantial help of our Mobile Sales Force(MSF) partners, we successfully took careof our many clients. Customer satisfactionhas been assessed through a structuredand certified survey, which UniCredit Groupconducts biennially. Through this survey,we have discovered that our clients areamong the most satisfied banking clients inSlovenia.1. Mass & affluent segmentMass & affluent segment remains the mostimportant segment in terms of revenue as itcontributed 34.2 % of total Bank’s revenuesin 2007. It also is the segment with thehighest revenue growth, which in 2007amounted to 35 %.Loans are still the core product for thissegment. The biggest revenue growth shareis contributed to competitive offer andsuccessful sales of housing mortgage loans.The volume growth was as high as 47 %,which clearly outgrew the market in totalloan volume growth.On the other hand, we also were veryactive and competitive with our depositsoffer. In 2007, we were the first bank tointroduce structured deposits in the market.Two successful auctions of new productsand an attractive pricing policy enabledus constantly to increase the total depositvolume and revenues.By revising our transaction accountpackages offer at the beginning of the year,we decreased the number of availablepackages, but brought their content closer tothe specific needs of the sub segment.2. Small business segmentThe small business clients segment wasto some extent negatively affected by the02006 2007MASS & AFFLUENTintroduction of the euro, since incomegenerated from foreign currency conversionsand foreign payments processingmostly vanished overnight. However, theintroduction of the euro also brought newopportunities, which we successfully havebeen capitalizing on. The small businesssegment also was redefined and shifted tothe retail division at the beginning of 2007.Financing products are still the mostdemanded by clients in this segment.Together, working capital and investmentfinance loans account for the majority oftotal segment revenues. Despite the recentliquidity/credit crunch, which was moreclearly present in the local environment inthe last quarter of 2007, we have providedsufficient funds to our clients at marketconditions. We thus satisfied most oftheir needs and ensured a continuousdevelopment and growth of their businesses.With the content redesigning and repricingof our transaction account packages, weUniCredit Bank · 2007 Annual Report 125


Business ReportBank’s Segment Performance Reviewsuccessfully met the needs of micro andsmall businesses. In 2007, we thus acquiredmany new clients with business transactionaccounts.3. Private Banking segmentThe Bank’s offer for Private segment ofthe most demanding individual clientscontinues to develop. We still areintroducing and developing new approaches,while several new, sophisticated products,in particular investment ones, and serviceshave been introduced to the Slovenianmarket. Nevertheless, our privilegedclub of “Plemeniti Package”, privatebanking products and services, has grownconsiderably and it indicates that long-termtarget goals will be exceeded.The late introduction of PioneerInvestments investment funds on themarket in September, together with theafore mentioned liquidity/credit crisis,was the reason for lower than expectedvolume of fund sales in 2007. However,the introduction and sale of funds wentsmoothly and according to plan. Therefore,we optimistically expect an increasedvolume of Pioneer Investments funds sold inthe future. The funds can also be offered incombination with various banking productssuch as Lombard loans or insuranceproducts.Thanks to the close cooperation with theCorporate Banking division, especiallywith the Structured Finance department,the volume of loans sold far exceeded thetarget. Tailor-made financing of managementbuy-outs (MBO), particularly in the Midmarketsegment, enabled the Bank to getaccess not just to the new private bankingclients but also to potential higher volume ofassets under management for those clientsin the future.ProductsLoans are still the main driving force ofthe Bank’s growth and are contributing aconsiderable part to total retail bankingrevenues. Notwithstanding, we believethere is still further growth potential in themid-term.Favourable money market trends positivelysupported the banking sector in 2007by generating above average revenuesfrom deposit business for most banks.Additionally, at UniCredit Banka Slovenijad.d. we managed to increase the total depositvolume compared to last year.Though revenues from other banking servicesalso increased, this field remains the largestnot exploited enough growth potential for theBank. In the future, we plan to increase itsshare in total revenues mainly through highervolumes of Pioneer Investments investmentfunds sold.Future forecastBy and large, UniCredit Banka Slovenija d.d10090807060504030201002,308 2,0041075,079Productswill continue to follow its ambitious goals inthe retail sector by:• increasing revenues and profitability;• maintaining our leadership position incustomer satisfaction;• enhancing our financial solution offers;• improving our processes in order toprovide even more convenient solutionsfor our clients;• additional investments and training of ouradvisors toward becoming top financialadvisors in personal and corporatebanking.Positive results in 2007 gave us additionalconfidence leading up to the next majorstep-substantial expansion of our retailbusiness over the next three years. In 2008,we will start implementing an ambitiousplan. The first step will involve openingsix new branches and pursuing a new callcentre with state-of-the-art solutions.The second step will be to shift our salesfocus in addition to mortgage loans also toinclude Pioneer Investments funds, which997,40310,150 13,7322006 2007BANKING SERVICESOFF-BALANCEDEPOSITSLOANS126 2007 Annual Report · UniCredit Bank


were introduced in September 2006. Wewill maintain the most competitive offer forthese two products. In addition, we intendto enhance our offer of investment productswith a new insurance partner.By taking these steps, our existing and newbusiness clients would be able to use theentire branch network for their businesssupport, not just the regional hubs anymore.The Bank also intends to develop closerrelationships with their clients, especiallymicro companies.Asset management and a few otherinvestment services will be introduced forour most demanding Private banking clients.Last but not least, we are set to further investin developing our sales staff knowledge andupgrading their skills in order to be able tobetter capitalize on business potential andclients’ trust.Corporate BankingGeneral overviewA strong macro-economic environmentcoupled with increasing economic growthof 6 % in 2007 continued to attract newcompetitors while current market playerswere fighting vigorously in almost all marketsegments of our business.In the first half of 2007, we saw a continuingtrend of declining interest margins. Thisindicated that interest margins on theSlovenian banking market for companiesholding a comparable credit rating werelower than European, while non-interestrevenues continued to gain importancecompared with interest revenues.During the second half of the year, decliningtrust in the banking system, stemming fromthe US banking crisis, was felt in Sloveniaas well. The inter-bank money marketbecame very sensitive to the news about thelosses related to American mortgage loans.All of these factors created a feeling ofuncertainty with higher prices of inter-bankloans and consequently higher prices ofcustomer loans.Slovenia, a member of the EuropeanUnion since 2004, also experiencedstrong competitive pressures in 2007 incertain economic segments as well asperformance deterioration in some businessentities. The introduction of the euro asa common currency meant an additionalloss of revenues in the areas of paymenttransactions and currency swaps.The corporate business line at UniCreditBanka Slovenija d.d. recorded good resultsin 2007 and thus, despite the high levelof competitiveness of this industry and thecontinued falling interest margins in the firsthalf of the year, exceeded its goals.The revenues were 14 % above budget and12 % above the preceeding year. The growthof revenues in the real estate financingsegment reached as high as 29 %. The Bankhas thus managed to maintain solid growth,which is a major success, consideringthe circumstances as well as the Bank’ssomewhat altered policy of focusing moreon the relationship between risk and returnon capital and seeing increased credit risk insome situations.The overall market share in the loanssegment dropped somewhat. This is to alarge extent a direct result of the Bank’sconservative approach as the foundation forcomprehensive assessment of companies’credit ratings. We decline many businesses,which we deem to be too high-risk.Additionally, compared to our competitors,we have been less aggressive in makingloan deals, if the offered deal did not meetthe required return/risk ratio.On the other hand, we have increasedmarket share in non-interest revenues, inparticular with risk management products forcorporate clients and partially with specialbanking products, such as project financing,retail financing, managing cash and the socalled group payment products (inside theUniCredit Group).Segments and productsDespite the fact that a slight decline wasrecorded on the corporate liabilities sidein 2007, significant growth was achievedwithin the framework of some sectors.One example is a segment of mid-sizecompanies, where the volume of depositsincreased by 36 % over the previous year.The volume increase of the Bank’s loans tocorporations was 15 % bigger than in 2006,and even higher within some segments,including the real estate and projectfinancing segments, where the growth ratewas as high as 43 %, and in the segment ofmid-size companies, where we recorded38 % growth.The volume of foreign payment transactionsin the segment of electronic payment ordersrose by 50 %, while the volume of domesticpayment transactions in the segment ofelectronic payment orders rose by 54 %.The overall number of transactions rose by21 %. Due to the harmonisation of thepayment system with the Europeandirectives on the one hand and theintroduction of the euro on the other hand,the Bank planned for a loss of revenues inthe amount of approximately 1 million euros.This projection was based on the followingassumptions: lower non-interest revenuesin the area of currency swaps; lower fees inpayment transactions or levelling fees fordomestic payment transactions with feesfor cross-border payment transactions; andlower fees for managing money. In reality,UniCredit Bank · 2007 Annual Report 127


Business ReportBank’s Segment Performance Reviewthe lost revenue was 15 % to 20 % higherthan planned. Despite that, we were morethan able to compensate for the loss withadditonal income in other areas.As a part of caring for better performance ofits partners who increasingly appreciate theadvantages of protection against currency,commodity and interest risks in 2007, theBank also increased its offer of instrumentsaimed at reducing such risks.The Bank was successful in interest hedging(interest swap), in composite hedginginstruments used for hedging interest risksand in foreign-currency forward contractsused for hedging currency risks. In terms oftotal market share, in this segment we werethe absolute No. 1 player on the Slovenianmarket with market share of over 50 % andwith a 141 % increase in 2007.The Bank also has been building itsexpertise about products and services inthe challenging and complex area of projectfinancing, where it has successfully carriedout several deals.We further improved our offer in the areaof cash management and took severaladditional steps in the provision of morecomplex services like automatic cashpooling. The group of companies thatdecide on such services has been growingresulting from the establishment of theirsubsidiaries abroad.Within the framework of the re-brandingproject, which encompassed the entire Bank,we have, among other things, successfullyrenovated our web site. It is now more userfriendly, confirmed by positive feed-backfrom existing and potential clients.Besides exceeding our goal in terms of totalrevenues, we also significantly increased ourcontribution to the overall profit of the Bankthrough cost and process efficiency.Future forecastUniCredit Banka Slovenija d.d will continueto follow its ambitious goals in the area ofcorporate banking, with particular focus onthe following:• further growth of revenue, profitabilityand above-average growth of non-interestrevenues;• increased client satisfaction compared toother banks and to the previous period;• maintaining or achieving a leading positionin the area of products such as structureddeposits, instruments for reducing risks,issuing bonds, project financing andothers;• improving the sales process in termsof better transparency and efficiency forclients as well as for employees;• developing the knowledge, experienceand satisfaction of our team, which isa necessary requirement for long-termsuccess.In 2008, we expect even fiercer competitionin the banking industry, while the changedeconomic environment in the country willalso contribute to difficult conditions fordoing business. The anticipated higherinflation growth rate and growth of the GDPwill lead to deteriorated conditions forcompanies. This consequently would mean achange of conditions for the Bank, since riskswould increase.Despite announcements about lowereconomic growth, in the range of 4 % to5 %, our aim will continue to be ensuringquality business solutions for our clients andexceeding set goals with well trained andexperienced banking staff.International MarketsThe International Markets business segmentcomprises the Bank’s activities in currency,interest rate and fixed income trading,sales of treasury products to corporate andinstitutional customers, and debt capitalmarkets origination. Thus, this segmentlinks international financial markets withcustomers and the Bank. In line with thisfocus, 2008 will see the integration of equityexecution and custody units to form aneffective structure with clear governance.This reorganization will enable us to furtherbroaden and deepen the range of productsand services offered to our customers. Thevarious units are to benefit from each otherin terms of know-how sharing, placementpower and market presence, and this backedalso by the strength of a large internationalfinancial group with proven competence intrading in international financial markets andinvestment banking ultimately will benefitcustomers.General overviewFor International Markets business segment,2007 was a very successful year. Totalrevenues increased by 0.6 million andreached 8 million euros despite a loss oftraditional income components related tointroduction of the single European currency,euro, in Slovenia and giving up domesticcurrency related conversion and interesttrading business. By consuming only4 % of the Bank’s capital, InternationalMarkets business segment increased itsshare in total profit of the Bank to 25 %.Return on allocated capital reached81%. Contributions to the strong overallperformance came from both customerbusiness and trading activities.Segments and productsCurrency and interest rate trading: againstthe background of major market weaknessand increased volatilities originated bythe US sub-prime credit crisis, the tradingunit added substantial contribution to totalrevenues in 2007, amounting to 4.7 millioneuros. The strongest contribution came from128 2007 Annual Report · UniCredit Bank


interest rate derivatives trading.Treasury corporate sales:The trend for corporate customers to hedgeagainst excessive currency, interest rateand commodity volatilities continued in2007. Treasury corporate sales respondedto growing demands from customers witha range of new and innovative productsfrom the family of interest rate and foreignexchange derivatives as well as commodityderivatives. In 2007, the Bank kept its clearleading position in Slovenia in the area ofrisk reduction and optimization strategies.The new trend is the ambition of customersto use market volatility and restructureexisting hedge portfolios to further reduceinterest expense and improve income.As an innovation leader in Slovenia,UniCredit Banka Slovenija d.d. will continueintroducing new, tailor made solutions toits customers in this know-how intensivebusiness. A new customer group forderivatives is private customers who areincreasingly interested specifically ininnovative investment products. WithinUniCredit Banka Slovenija d.d., the Treasurycorporate sales unit has a functionalresponsibility for product developmentand execution of market risk relatedproducts with corporate customers, withprofits generated in this business segmentallocated to the Corporate Banking division.Institutional sales:In 2006 the Bank decided to bundle allaspects of relationship with institutionalcustomers (insurance companies,investment funds, pension funds and otherfinancial institutions) in one organizationalunit in order to better understand the needsof this customer segment and to increasethe quality of service. Institutional salesactivities generated significant increase intransaction volumes and revenues in 2007,results amounting to 1.6 million euros andmore than doubling the result achieved in2006. Approximately equal contributionscame from derivatives and operationalproducts such as currency conversions andequity brokerage.Debt securities issuance business:In 2007, UniCredit Banka Slovenija d.d.took a top position as lead manager andunderwriter for the successful executionof two high profile issuances in Slovenia.In March, the Bank acted as a joint-leadmanager for inaugural issue of the Republicof Slovenia in EMU in the amount of onebillion euros, significantly oversubscribedand placed with a tight pricing Anothersuccess was the first issue of DrogaKolinska Živilska industrija d.d., leadmanaged by UniCredit Banka Slovenijad.d. and placed with a volume of 30million euros on the domestic market,demonstrating the distribution capacity ofthe Bank on the Slovenian bond market.Quite generally, the new issue businesscontinues to be negatively effected by therestrictions of withholding tax regulations,pricing potential new corporate issue outof international markets. Nevertheless,we anticipate the trend for corporatecustomers to diversify their refinancingbase to continue in 2008. With a dedicatedsales force in Slovenia and more than200 professional sales people acrossEurope, the Bank is best equipped to serveits customers and to execute a broadrange of debt securities instruments bothdomestically and internationally.Equity brokerage:Supported by an increased volatility in thefall of 2007, the brokerage unit achievedyet another record year in 2007, both interms of traded volumes as well as marketposition. UniCredit Banka Slovenija d.d.continues to act as the broker of choicefor international dealers and brokers activein Slovenia. The Bank concluded the yearas the second biggest broker on LjubljanaStock Exchange, with a turnover of 341million euros. Positive trends are increasingoutbound flows of Slovenian customers whoappreciate our market access and quality ofservice. In 2008 we will continue investingin this area in order to increase further theefficiency and product quality offered to thiscustomer segment.Custody:The developments in Custody are in linewith positive trends in Brokerage as bothassets under management and numberof processed transactions reached recordlevels in 2007. Despite ongoing pressureon fees, Custody managed the best result inhistory with revenues of 1.6 million euros.UniCredit Banka Slovenija d.d. secureda custodian mandate in the upcomingintroduction of Euroclear and Clearstreamlink with the Slovenian securities registry,which will help to mitigate potential loss ofthe traditional fee income in this segment.Besides keeping its position as a topinbound custodian in Slovenia, the Bankplans to significantly increase its share onoutbound flows in 2008 by both increasingrelationship capacity and improving productquality.Sales SupportUniCredit Banka Slovenija d.d. is awarethat the products and services it offershave to address the specific needs ofits clients in order to achieve maximumclient satisfaction. This is one of theBank’s key strategic guidelines. In 2007,the Sales Support division prepared salesactions, organized them and monitoredtheir efficiency, adequate managementof sales segments and development ofnew products. Client satisfaction indexUniCredit Bank · 2007 Annual Report 129


Business ReportBank’s Segment Performance Reviewmeasurements, which are performed jointlywith UniCredit Group, within corporatebanking and retail banking units, produceda desirable result last year concerningoperations with the general public, whichplaced the Bank in first place amongbanks. As far as corporate operations areconcerned, the Bank has been achievingoutstanding client satisfaction results for thepast few years.Client satisfaction index concerningoperations with the general public iscalculated by an independent institutionTNS, enabling the Bank to compare itsresults with those of other banks within theUniCredit Group and other banks in Europeand Slovenia. In 2007, the Bank achievedthe best result in the Group and exceededclient satisfaction of competitive banksin Slovenia, amounting to 70 points onaverage. The Bank achieved 99 points andwas placed among the best five percent ofthe banks in Europe. The Bank will striveto preserve high client satisfaction in allsegments in the future as well.Introduction of new products in 2007High CustomerRetention90was marked by successful launches of twostructured deposits, the introduction ofwhich followed innovation, which is a partof the Bank’s strategy. The Bank introducedLombard/collateralized loans and crossbordercredit plus, which are interestingmainly for clients who need cross-bordersupport. In the fall, the Bank startedpromoting sales of the Pioneer Investmentsumbrella fund, which brought an internationalfund operator to Slovenia.In 2007, the Bank successfully continuedto use alternative communication channelssuch as direct mail, to cooperate with itspartners and to increase cross-selling.Last year’s advertising campaigns weremarked by the renaming of the Bank and itsbrand. It was taken into consideration thatclients’ needs vary with regard to individualsegments. As far as communication withcompanies is concerned, the Bank focuseson organizing various events and thusattends to effective transfer of best practiceknowledge from the field of structuredfinancing and derivatives. The Bank alsopublished the first issue of Azimut, ourmagazine targeted at key clientele. The99purpose of the magazine is to innovativelyunderline the Bank’s care for thedevelopment of an individual and its keeninterest in social development. The Bankmade a shift in the tone of its marketingcampaign focused on communicating withthe general public. A corporate advertisingcampaign actively announced the brandchange. UniCredit Bank brand is based on aunique, identifiable, modern, dynamic, andemotional basis, which will be noticed in allfuture communication tools as well.Current research shows that UniCredit Bankbrand quickly became synonymous withexcellence also in the Slovenian bankingmarket. The Brand Equity Index Study,carried out Group-wide, enables us toverify awareness, reputation and inclinationto repeated purchase. We are proud thatthrough the re-branding campaign we haveachieved 40 % aided awareness and up to80 % aided awareness in some segments.Our clients already recognize key attributesof our brand, such as innovativeness,helping clients to achieve their goals, and ahigh level of customer satisfaction throughquality service. We use these researchresults also in measuring performancesuccess and for remunerating managers,who consider the client satisfaction indexa vital element of their annual performancegoals.70503068 69Challengesof the Year 2008Low CustomerRetentionCompetitors in Slovenia- Retail bankingFinance - Europe- Retail bankingUniCredit Banka Slovenija d.d.- Retail bankingNumber of interviews 2.474 800.000 1.515Source: Customer Satisfaction Study Slovenia, November 2007 and TNS Group, 2003 - 2006Year 2007 is marked as the year theSlovenian economy achieved the highesteconomic growth since its declaration ofindependence. The main factors were highexport growth and domestic investments,mainly in the construction industry.Concerning domestic consumption,130 2007 Annual Report · UniCredit Bank


High CustomerRetention9070503071 71change and instead of regular loans, thepartners will demand structured and tailormade solutions, which will include all formsof financing coupled with involvement ofa wider circle of financial experts. Withinits corporate banking business, the Bankwill continue to strengthen its presence insmall and medium-sized companies, whichrepresent the major share of the structure ofSlovenian economic subjects.Low CustomerRetentionCompetitors in Slovenia- Corporate bankingstate and household spending remainedmoderate. Also, financial brokerage markedhigh growth on account of very positive››terms of trade«, which specifically appliesto various loan arrangements throughoutthe non-banking sector. In other words, thefinancial crisis, with which the rest of theworld has been dealing since the secondhalf of 2007, has not had substantial impacton the Slovenian economy yet, except thatthe price of financial brokerage has begunto increase and access to foreign bankingsources has become more difficult.Considering the results of the previous year,which were positive for the entire EMU aswell, the OECD and other renowned analystsshare the opinion that we can all expect animpact of the financial crisis in 2008. Thisimpact will reflect first in slowing economicgrowth while inflation will also remain athigh levels and also at a much higher levelthan the ECB price target. Such externalconditions also will affect the Slovenianeconomy decrease of foreign demand andconsequently modest investment growthUniCredit Banka Slovenija d.d.- Corporate bankingNumber of interviews 400 407Source: Customer Satisfaction Study Slovenia, October 2007will result in more moderate growth of theSlovenian GDP. Despite these factors, ourprojections remain optimistic, meaning thatthe positive guidelines of financial brokeragewill continue. Though they will not be onpar with 2007, they will continue at reducedpace, particularly in the area of creditactivity in the corporate and retail sectors.The Slovenian market also will facehigher inflation in 2008 compared to theEuropean market, which means that thereal interest rate will be lower than in othercountries of the European Monetary Unionwhile anticipating that the population willconsume more. Even though Slovenia hasexceeded three times the average creditgrowth in the EMU, due to the relativelylow basis it has been only graduallyapproaching the scope of debt within thenon-banking sector of the EMU. Taking lastyear’s credit business trends into account,this difference still represents 2/5 in favourof Slovenia. We wish to point out that thecredit business will dictate the Bank’sactivities despite introduction of new Baselstandards. We anticipate clients’ needs willIn order to get closer to small companiesas well as individuals, UniCredit BankaSlovenija d.d. is determined to additionallyexpand its business network to new localareas, hence doubling the network overthe next three years. The Bank is awarethat the fast growth of GDP enables thecitizens to have at their disposal greaterfinancial sources, which forms the basisfor new household debt, while at the sametime, creating opportunity for varioustypes of investments in the insuranceand wider financial sectors too. In orderto support these efforts, the Bank willcooperate with the entire UniCredit Groupas much as possible and with the PioneerInvestments funds, leasing company andthe insurance company within the group,while simultaneously obtaining the assetsmanagement license.Last year also demonstrated that companiesand individuals found the structuredinvestment products interesting, whichis why the Bank will continue with theseactivities in 2008, taking into considerationcurrent market trends at home and abroad.Increased financing of real-estate businessthrough mortgage loans is also a goodfoundation for issuing mortgage bonds, inaccordance with applicable legislation. Onthe other hand, it is common knowledgethat major domestic institutional investorsare investing their financial assets in foreignstocks, bonds etc. This is the reason theUniCredit Bank · 2007 Annual Report 131


Business ReportBank’s Segment Performance ReviewBank is interested in issuing the first bondof this kind in 2008, hence adding varietyto the investment options on the domesticmarket while assuring important, long-termfinancial resources.Volatile conditions on domestic andforeign money and capital markets willpose additional challenges to the Bank tooffer its partners the option of reducing theinterest, exchange rate and price risks withdifferent derivative instruments. Our goal isto maintain the leading role in this segmentof the Slovenian market and to furtherstrengthen it with the synergy of the entirefinancial group, UniCredit Group.Because of greater than anticipated inflationpressures, all cost categories will be moreexposed. This means the Bank will haveto pay more attention to this concern and,despite such pressures, continue with thetrend of decreasing costs as it is the onlyway of achieving target profitability throughorganic business growth.business sector. We are convinced theBank has all the necessary prerequisites,in particular highly qualified employees,who respect ethical norms that formthe foundation for liable development,strengthening of trust and additionalassurance for the quality of service. Thisawareness will be the foundation, inaccordance with the adopted instruments,for enabling the best employees to achievetheir own goals within the Bank and UniCreditGroup; those goals are related to additionalprofessional trainings, achieving betterfinancial results and obtaining appropriatepositions within the financial Group.The euro has brought additional marketfreedom to the Slovenian market; it hasincreased competition and also our commonresponsibility. We are aware of all of this andwe will make the additional, necessary effortsfor which we thank everyone in advance aswe are convinced these efforts will lead us tothe set goals and to strengthening the Bank’sreputation.In line with strategic three-year guidelinesadopted last year we are aware that thegrowth of business alone, without theadequate profitability, can not be thefoundation of a healthy and successfulbusiness. For this reason, we will focus onall three basic indicators of our success:return on equity, total revenue/expensesratio, as well as market share. In order tofuel additional market growth, the Bank willneed additional capital, so it anticipates thatthe owners will continue current businesspolicy of reinvesting generated profits andadditional investments in shareholder’sequity if necessary.Based on the stated facts or assessmentsconcerning the development in 2008, theBank is determined to continue with itsprofitable growth and primarily with itsintensified activity in the retail and small132 2007 Annual Report · UniCredit Bank


Managing Business RisksFinance andMarket RiskThe Finance and Market Risk divisionwithin UniCredit Banka Slovenija d.d. isresponsible for Accounting, Controlling,Central Bank Reporting and Taxes. Inaddition, the division is in charge ofmarket and operational risk management.It’s the Division’s clear goal to supportits stakeholders with timely and accurateaccounting and decision relevant reporting.The main activities in 2007 were focusedon the successful completion of the Basel IIproject, where both Accounting and CentralBank Reporting were heavily involved. Asignificant part of the department capacitieswere invested into aligning bookingprocedures and data input guidelines togroup wide standards. Based on this, theresults of the Vienna and Munich codevelopedrisk weighted assets calculationengine were tested for the standardisedapproach. Already, by March 2007, thenew COREP forms were used for reportingcapital requirement for market risk. Besidesthe Basel preparation, in 2007, Accountingand Central Bank Reporting ensured theongoing accurate and timely reporting to thebank’s owners and the Central Bank.Within operational risk management, thepreparations for the standardised approachwere completed and additional efforts incompliancy with the advanced measurementapproach invested. A major focus in 2007was on the increase of the operational riskawareness of the Bank and the identificationof risk mitigation strategies.In Market Risk unit we have implemented asthe first bank in Slovenia derivatives nettingfor the calculation of the credit replacementvalue. Market risk is in charge of the dailyperformance measurement of all Treasuryactivities as well as the limit monitoring andthe ALCO process.The role of Controlling is to ensure timelyand high-quality information for targeteddecision-making at all organizational levelsof the Bank. In order to ensure a transparentremuneration system of sales divisions,the Controlling department participatedin introducing a tool for performancemeasurement and sales remuneration.Furthermore, Controlling is responsible forthe entire business planning process andpreparation of other reports for internal andexternal users at the Group’s level. It alsogives expert opinions related to introductionof new products, marketing campaigns,new branche openings and other strategicdecisions by the Bank.The tax unit successfully completed acorporate income tax audit by the Sloveniantax authorities. In line with our contract withthe IRS (US tax authority) an external auditon the implementation of the IRS agreementwas performed and accepted by the IRS.The tax unit acts as an internal, professionaladviser for all tax related questions.Last but not least, the Finance and MarketRisk division has an important role in theBank’s attempt to bring innovative productsto the market. For identified products thedivision sets accounting and reportingstandards, assesses tax impacts andmarket and operational risks related tothose products. Also in 2007 several newproducts were launched with support of thedivision.Risk ManagementRisk management is of fundamentalimportance to the banking industry, which israpidly changing and developing. Financialmarket sensitivity can easily create distrustbased on negative information connected tooperational pitfalls of an individual financialinstitution. A similar outcome occurredin 2007, when the American credit crisisbegan and agitated the financial public.UniCredit Banka Slovenija d.d. is well awareof this, therefore it treats this segment withspecial attention in terms of content andpersonnel. In risk management, the Bankabides by the strict and complex rules of theGroup as well as the rules and regulationslaid down by the Bank of Slovenia andother supervising institutions. The Bankhas extensive experience in controllingcredit risk, which is annually incorporatedinto carefully established procedures forpermanent monitoring of its overall creditexposure. Certain procedures were adjustedto international accounting standards andBasel requirements, which further upgradedthis segment to improve the process oftreating and monitoring the investments.UniCredit Banka Slovenija d.d. monitorsexposure of each of its individual clientsor a group of clients. The Bank’s systemenables it to examine the exposure basedon exposure criteria connected to anindividual transaction. On the basis of theinternal model used for classifying clients- companies - credit risks are arranged intwenty-eight classes. When determiningthe credit capacity of individuals, theBank focuses primarily on major factorsinfluencing the individual’s credit capacity,namely checking income, salaries and thelike. Based on client classifications, andconsidering all other available data, theBank formulates the required and necessaryimpairments for individual banking risks ateach client’s level. If necessary, this also isdone at each transaction level.In 2007, the Bank formed additionalimpairments in the amount of 4.3 millioneuros, which conformed to its plans.Compared to 2006, the amount of formed(for more information on banking risks, see financial part of the Annual Report)UniCredit Bank · 2007 Annual Report 133


Business ReportManaging Business Risksimpairments was actually reduced by 8.5%, highlighting that in 2006, the Bankuniquely formed impairments in the amountof 1 million euros due to the introduction ofInternational Accounting Standards. If therewas no such effect, the level of impairmentswould increase by 16.2 %, which complieswith the growth of the Bank’s portfolio.In 2007, the Bank substantially increasedthe amount of repaid, impaired loans(4.9 million euros), which shows that thedepartment entrusted with loan renewal iswell formed and organised.When forming impairments, the Bankapplies various measures for early detectionof potentially bad loans. The Bank followson a monthly basis the movement ofcompanies’ ratings, loan defaults andlate bank payments and regularly followscorporate clients’ individual transactionswith at least annual documented businessand event review. The Bank employs adiscounted future cash flow method tocalculate impairments. In 2007, for thefirst time, the Bank additionally formedimpairments for the so called unidentifiedevents in the amount of 400,000 euros,which, in addition to 3.9 million euros fromindividual provisions, represents the totalof all impairments in 2007. The amountof additional impairments is aligned withthe budgeted amount, which proves thatthe methodology used by the Bank wasadequate and correct.A detailed and regular analysis of theportfolio and numerous comparisons madeon the level of UniCredit Group confirmedthat the Bank has a high quality andbalanced portfolio, which has been retaineddespite growth. Similar to previous years,the Bank maintained a stable and qualityportfolio structure again in 2007, with morethan 95 % exposure with the highest creditrating ‘A’. To further reduce the credit riskof its entire portfolio, the Bank providesfor adequate dispersion of loans among itsnumerous clients and segmentation intovarious economic activities. The preparationof such analysis with respect to activity, sizeof business, credit form, etc. enables theBank to react quickly in case of recordeddeterioration of any indicators.In 2007, the Bank focused a majority ofactivities on meeting Basel requirements,such as checking the quality of collateral,provided as a pledge for the bank exposure.The Bank formed all the necessary projectfunctions enabling it to implement plannedactivities to meet the requirements incompliance with the IRB approach.Information TechnologySupportIn the area of information technology andoptimization of business processes, 2007was marked with several important projects atUniCredit Banka Slovenija d.d. These projectsincluded: preparing for the introduction ofBasel standards; implementing requirementsfrom the European directive on Market inFinancial Instruments (MiFiD); introducingthe Slovenian clients’ credit ratinginformation system - for individual clients- (SISBON); preparing for the introductionof a single euro payment area (SEPA); andthe transition of all banking cards to chiptechnology.In accordance with Basel standards, in 2007we continued with the project of setting upa back-up IT centre. As a result of theseendeavours, we now have two interconnectedIT centres, which alternately conduct tasksbased on the current availability of resources.If one centre fails, the other one resumes theentire Bank’s information and communicationsupport. During last year we thus completedthe project of increasing the reliability ofthe Bank’s information support. The projectbegan in 2005 with the transfer of the coreinformation system to the Group’s central ITcentre in Vienna, while in 2006 and 2007we continued with the increase of reliabilityof all satellite systems and communications.The European MiFiD directive requirednumerous adjustments on the central bankinformation system as well as on satellitesystems for supporting business withfinancial instruments. In order to createa better basis for expanding our offer ofservices related to securities trading, inthe second half of 2007 we replaced theinformation system for this segment with anew one.We at UniCredit Banka Slovenija d.d. havealways been aware of the utmost importanceof exchanging data on clients’ credit ratingsamong Slovenian banks and consequentlyof the introduction of SISBON system in ourbank. Therefore, we started all the requiredpreparations in the central informationsystem right away and we completed themon time.The introduction of the single payment areain euros (SEPA) has most certainly beenone of the most demanding projects in thearea of payment systems in the last years.We started preparations for this project in2006 and upon Slovenian adoption of theeuro, preparations intensified. The projectwas also launched at the entire UniCreditGroup level. In order for the Group to remainharmonized in the European region and toachieve cost efficiency, we decided to enterSEPA payment systems through the centralaccess point in Vienna. At the same time,we decided to support all specific servicesenabled by SEPA standards that wereavailable at the national level.Year 2007 also brought the replacement134 2007 Annual Report · UniCredit Bank


Index of growth of share of users/ installation of electronic banking systems350Index of card transactions growth250%214,9300305200%150%153,7128,0163,0250%200%229157207167224150%100%100,0 100,0100%100 100 10050%50%002005 200620072005 20062007Online b@nk for individual clients - usersE-bank and MultiCash for corporate clients - installationMaestro CardsMasterCard CardsVISA Cardsof all of our cards as we equipped themwith chips in accordance with the EMVstandard requirements. However, our ATMsalready had been completely adapted tothis technology in 2006. As a result, byOctober 2007, when the card replacementprocess was completed, UniCredit BankaSlovenija d.d. was one of the few Slovenianbanks that had completely adopted the chiptechnology. During the card replacementprocess, we also took into consideration theSEPA requirements related to card business.The trend of fast growth of transactions withcards issued by the Bank, continued in 2007too, as we have seen an 8 % growth in VISAtransactions, a 6 % growth in MasterCardand a 33 % growth of Maestro transactions.The number of cards issued by the Bankalso increased, namely by 18 % for VISA,by 30 % for MasterCard and by 29 % forMaestro.In 2007, we continued the trend ofincreasing the number of domestictransactions (by 18 %) as well as thecross-border and international paymenttransactions (by 15 %). The share ofelectronically received payment ordersincreased to 86 % in domestic transactionsand to 84 % in cross-border andinternational payment transactions.Electronic banking is a communicationchannel that is becoming increasinglyimportant in modern banking services. Inline with these changes, we introduced aseries of minor additions that improvedthe user-friendliness of electronic bankingsystems; we enabled our clients access toadditional data on payment transactions andimproved the reliability of these systems.The trend of increasing share of users ofelectronic banking systems continuedthroughout 2007 as well, since 27 % morecorporate clients and 40 % more individualclients were using them compared to thepreceding year.Information System SecurityFor banks, information and informationtechnology systems present assets ofgreat importance, requiring appropriatesecurity measures are taken to ensure theform and manner of information storage.The Management Board of UniCredit BankaSlovenija d.d. has approved the overallsecurity policy justifying concrete policiesand instructions of safeguarding theindividual areas (physical access policy,‘clear desk’ and ‘clear screen’ policy,password policy, e-mail and the internetpolicy, etc.) and providing a basis for securebusiness.The main objective of the Bank’s informationsystem security is ensuring confidentiality(only authorised persons have access todata and information), integrity (data isaccurate), and optimal availability (ensuringthat authorized users have access toinformation and associated assets whenrequired). All of this is extremely importantfor successful management of the Bank,its reputation and for the confidence of itscustomers. Safety and security checks arebased upon safety standards of UniCreditGroup and Code of conduct for informationsecurity management ISO 17799.Only authorised persons have access toUniCredit Bank · 2007 Annual Report 135


Business ReportManaging Business RisksIndex of growthin number of payment transactions160%153,37140%120%126,25114,79136,70100%100,00100,0080%60%40%20%02005 20062007Domestic payment transactionsForeign payment transactionshardware and software equipment. Accessis granted by standard procedures andon the basis of attributed rights with aunique user name and password. Thesecurity and safeguarding system coverspaper documents, data in electronic form,communications, all hardware and softwareequipment.General system and other types of controlinclude physical and/or logical control.Physical control comprises physicalprotection of the building, video surveillanceon all key points, entry to business premiseswith inductive cards and alarm protection.Logical control is implemented in terms ofapplied software. Password policy lays downrules for strong and secure passwords.The Bank has a back-up IT centre, ensuringhigh availability of all critical data andservers. Servers at the back-up location areeither physically duplicated or virtualised.All communication lines to branches andexternal institutions are doubled. Also,communication with the public network isdoubled using different internet providers.Firewalls on primary and backup locationenable several protected areas, external andinternal segments are additionally protectedby routers. Additionally the Bank takes careof data protection, so that we make regularly(daily, weekly, monthly) data and systembackups on tapes, which are then storedoff-site, in a secure location.In the framework of the Business ContinuityManagement project, we have preparedbusiness continuity plans (includingalternative and recovery procedures) forbusiness critical functions, based on riskanalysis and business impact analysis.The software development policy determinesthe manner of ordering software (newrequirements or modifications), testing inseparate test environment and ‘go-live’procedure.We are aware that technology is changingand moving forward. Therefore, we areregularly monitoring development in thisfield at home and abroad as UniCredit Groupis focused on security.136 2007 Annual Report · UniCredit Bank


Social ResponsibilityAt UniCredit Banka Slovenija d.d. we areaware that the strive to increase profit mustbe accompanied by corporate responsibilitytowards the economic and socialenvironment. These days, corporate successand stability depend upon different interestgroups, so development of knowledge,innovation and a wider social responsibilityare the key to success in these areas.UniCredit Group has strong, universalcorporate values, stated in the IntegrityCharter and representing a foundation ofstrengthening corporate social responsibilityand managing long-term relationships. Thegoal of the UniCredit Group is to becomethe leading financial institution in corporatesocial responsibility by 2010. This projectis of great importance to UniCredit Group,as it is essential for the Bank to create trustin the public eye locally as well as at thegroup level to fortify it with its actions andto communicate it to the public too.The key task of the Bank’s corporatecommunications which is based on two-waycommunication and supports the plannedstrategy, vision and goals of the Bank ismaintaining good relationships with itsaudience, including employees, clients,suppliers, investors and the communitieswhere we conduct business. Creating addedvalue and socially responsible behaviourare the most important all-around goalsinvolving corporate communications.Transparency, professionalism, respect andtrust are the values we follow dutifully to thisoutcome.power, energy and knowledge that contributeto achieving the Bank’s long-term goalsand satisfaction of customers and peers.Therefore, we pay careful attention to theirpersonal development. Employees are alsoambassadors of what is going on in thecompany so the relationship with them isthoughtfully planned and measured. Wedevote a great deal of importance to internalcommunications and keep employeesinformed about important activities anddirections of the Bank.Employee communicationThe main focus of internal communicationin 2007 was connected with a momentousevent for the Bank, when the Bank with itsowners identified with the new name aswell. Communications started last springwith the publication of an internal newsletterdevoted to the topic of re-branding followedby a letter from the management. In August2007, the Bank organized an all-staff socialevent at Krvavec, where, in an informalsetting, we introduced them to the Bank’snew corporate image and logo. Membersof the Board described the meaning ofthe new name and of the entire bankinggroup. The new corporate ad campaignalso premiered there. Staff response tothe event was extremely positive and, nodoubt, contributed significantly to theoverall success of such an important anddemanding project as re-branding.460Growth of number of employeesWe kept our employees informed throughoutthe year about the Bank’s projects byusing different communication channelssuch as letters from management, internalnewsletters, personal letters, e-mails,personal presentations and meetings.When projects demanding high personalinput from employees were completedsuccessfully, key employees receivedpersonal acknowledgement from theBank’s management. By doing this, weemphasized their role during the project, weacknowledged their exceeded expectationsand we contributed to their motivation to domore successful work in the future.Growth in number of employeesand hiringAt the beginning of 2007, UniCredit BankaSlovenija d.d. had 419 employees. By theend of the year, that number had grown to450 employees. These figures include, onaverage, 33 students and contract workers.The growth in number of employees in 2007was 7 %, or 31 new co-workers, whoseaverage age was 29. The average age of allemployees is currently 36.5 years; 62 % ofthe staff employed by the Bank are womenwhile 38 % are men; the gender ratio wasunchanged from 2006.The Bank’s goals and strategy for new hiresin 2008 are: to attract appropriate candidatesfor new business units; to train the450.10 452,10Relations withEmployees440420400380360340336.10 337.10392.10419.00At UniCredit Banka Slovenija d.d. we areaware that our employees are the source of3201. 1. 2004 1. 1. 2005 1. 1. 2006 1. 1. 2007 31. 12. 2007 1.1 2008UniCredit Bank · 2007 Annual Report 137


Business ReportSocial Responsibilitymanagement toward successfully achievingstrategic business goals and managing thedevelopment of young, potentially talentedemployees. We want to become a longtermpartner of employees in banking andfinancial institutions, as this is the only wayto achieve the goals of the individual as wellas of the Bank. We wish to be candidates’first choice in the future too.Educational structureUniCredit Banka Slovenija d.d. paysparticular attention to knowledge andeducation, as evidenced by availabledata showing that four percent of ouremployees have a Ph.D. or Master’s degree(an increase of one percentage point over2006); 46 percent of employees havehigher or university education degrees (uptwo percent over 2006); while 50 percentof employees have high school diplomas(a three percent decrease). A trend of animproving education structure is seen, asthe level of higher or university educationdegrees increased by three percentagepoints.Training and educationThe Bank has gained value throughoutthe years with appropriate knowledge ofits products and services, by knowing itsclients and with the quality of its services forclients. In 2007, we allocated 0.2 % of totalrevenue toward training our employees. Weconducted 17,888 hours of educational andtraining activities (a 17 % increase), whilethe average stood at 42 teaching hours peremployee (a 5 % increase).The topics covered by training andeducational activities included bankingprofessionalism, sales techniques,leadership techniques and improvingcomputer skills. Since there were nocomputer trainings in 2006, due to activitiesrelated to the introduction of the euro, 26 %of all employees attended Excel and Accesstraining sessions in 2007.The share of internal trainings was 24 % andcomprised the following topics: products andprocesses (a total of approximately61 % of all internal trainings), theintroductory seminar for new employees,titled ››Welcome Amongst the Best« (a totalof 25 % of all internal trainings), basics ofproject management (a total of eight percentof all internal trainings), plan of continuousoperations (a total of six percent of allinternal trainings).Nine percent of the total training andeducational hours were dedicated toleadership techniques and skills, 21 % oftotal hours were allocated to learning foreignlanguages and 70 % were for professional,functional education in banking, finances,information technology, and organizationalskills.Development and remunerationThe Bank’s strategy was introduced toemployees by the Bank’s management at afull-day retreat, where every employee hadan opportunity to recognize his/her role inachieving corporate goals and was thenable to determine the goals for his/her owndepartment or division.In 2007, we continued the HR projecttitled “Management by objectives” andthe related employee remuneration, whichwas carried out for the third time this year.One part consists of management basedon objectives set by each employee ina two-way conversation at the beginningof the year. The second part, particularlyimportant from the development viewpoint,is an annual development interview intendedfor individual’s career development. Bothparts are key management tools in the Bank.The result of management by objectivesapproach is better familiarity with the goalsand strategy of the Bank and of the individualorganizational units and therefore greateremployee satisfaction. At the same time, theremuneration system also is connected toachieving individual goals.The annual development interview isimplemented at all organizational levelsand we consider it to be a competitiveadvantage, as assessment of behaviourand skills in accordance to the 270ºmethod is the foundation for such aninterview. Employees adopted this systemand because of its added value, they useit as a tool that supports and developscommunication between superiors and theirco-workers.Taking into consideration experiences fromthe previous years, in 2007 we took astep forward and adopted the renewed andamended remuneration system for the salesdivisions, namely for the Sales Networkand Corporate Banking divisions. The newsystem more precisely and transparentlydefines the expectations for specific salespositions.Also, the systematization and internalcollective agreement that were re-adopted in2007 helped create a more transparent workorganization in the Bank and in arrangingother employment related rights andresponsibilities.Taking care of valuesWe undertook some key initiatives inthe areas of leadership, training andremuneration in 2007, where additionalroom for improvement had been identified.These activities were conducted based onthe results of the first satisfaction survey,conducted at the entire UniCredit Grouplevel. Analysis among other elementsindicated strong loyalty to the Bank andemployee pride to be a part of such amature and responsible environment.138 2007 Annual Report · UniCredit Bank


The research results also led to theformation of interest groups related to salesof products and to management for whichwe prepared the Sales Academy and theLeadership Academy. Within the trainingarea, we focused more on topics thatallow direct application of knowledge. Asmentioned earlier in this report, pertainingto remuneration, we adopted revised rules ofrewarding sales personnel.On 1 October 2007, we celebrated the“Integrity Charter Day,” dedicated to adiscussion of six values: equality, trust,respect, transparency, freedom of action andreciprocity. These values form the foundationof our business and strengthen ourrecognition on the financial intermediationmarket. During this day, employees fromdifferent organizational units met for shortmeetings and discussed values, theirmeaning in the work place and for everydaytasks. These meetings showed that we hadmade significant improvement regarding thevalue of transparency compared to 2006;this value came out penultimate in theopportunity for improvement.In 2007, UniCredit Banka Slovenija d.d.also named an ombudsman, as thissystem was established for the wholeGroup in September 2006. Establishing anombudsman allows independent submissionof potential complaints relating to breachesof the Integrity Charter caused by actor behaviour among employees and theBank. UniCredit Group is introducing theombudsman position in every country theBank has presence. By doing this, we aimto accelerate solutions of interpersonalconflicts and difficulties, to encouragecooperation at work and to create synergiesamong members of the Group.The restorative justice system brings a newway of dealing with the consequences thatfollow illicit behaviour. It is based on theculture of selecting mediation as a way oftreating illicit behaviour and as a guaranteefor respecting the value system definedby the Integrity Charter. The system offersan opportunity for improved or restoredcommunication, or suggests new meansof interpersonal relations; it eases theelimination of negative consequencesrelated to breaches of the Integrity Charterand leads to an agreement regardingfuture behaviour. Ombudsmen deal withtopics such as discrimination in the workplace, discrimination based on subjectivecriteria, intentional information withholding,mobbing, sexual harassment, stalking andso on.Ombudsmen are organized so that theycan act independently and report to theManagement Board or to other executivebodies. Each bank ombudsman, as amember of the UniCredit Group, is directlyresponsible to the Group ombudsman,and hence, independent of the localhuman resources department and localmanagement.Taking care of employeesIn order to care for our employees, theirhealth and well-being, we support thefollowing activities: organized sportingevents, subsidized cultural performances,New Year’s celebrations, gifts for children ofemployees, employee recreation days andsummer picnics.Taking care of and monitoring ouremployees’ health is both our obligation anda commitment that expresses our support ofour employees. In 2007, we thus conducted72 preliminary medical examinations andat the end of the year, traditionally providedour employees with the option for a fluvaccination. On average, 20 % of employeestake this option. We also reduced thepercentage of sick-leave, namely by fivepercent, which increased the number ofeffective hours by 13 %.Due to our young employee profile, weexperienced a population boom in 2007 asthe number of pregnant women in the Bankjumped significantly, by 60 %.Within the framework of our care for theelderly, we also assure the possibility ofparticipating in a voluntary supplementalpension insurance, which is used by75 % of our employees. This figureis understandable considering theage structure and awareness of ourdemographic.The above described care for employees isalso reflected in successfully maintainingthe fluctuation rate at an acceptable levelby taking into account the demographic andsituation on the labour market. However,this rate increased from 5.31 % in 2006 to6.04 % in 2007.Relationshipwith ClientsLast year, we achieved an ambitious andthoughtfully planned marketing strategy.Many marketing-communication activitieswere successfully carried out in the first halfof the year. By using advertising campaignsand direct mail we presented to select targetsegments our offer of housing loans and twostructured short-term deposits, novelties onthe Slovenian banking market.The second half of 2007 was marked withthe Bank’s re-naming and introducing thenew brand to the Slovenian market. TheUniCredit Bank brand distinctively orientedtowards active individuals whom the bankhelps to achieve their wishes, ambitions andgoals was successfully presented to clientsthrough the corporate advertising campaign.UniCredit Bank · 2007 Annual Report 139


Business ReportSocial ResponsibilityThe campaign distinguished itself withclear and consistent communication in avariety of media, TV commercials (whichwas the main communication tool) andgood positioning slogans. By an emotionaland graphically effective TV commercial,enhanced by familiar music, we portrayeda life cycle in which an individual canachieve his plans, wishes and dreams. Thepositioning slogan ››Choose your tomorrow«places an individual into an active roleand hence encourages him to plan hisown future and actively follow this plan.As research showed, through use of aneffective advertising campaign we achievedthe desired awareness and positioning ofthe new ››UniCredit Bank« brand and evenexceeded the customer satisfaction of ourSlovenian competitors, which on averageamounted to 70 points. A score of 99 pointsplaces us among the top five percent ofbanks in Europe.Within the framework of re-branding theBank, we also upgraded and updatedpromotional material (brochures, posters,leaflets, product packaging, forms,contract forms etc.) and designed it inaccordance with the new design guidelinesof UniCredit Group. New appearance andcontent also was applied to the webpagewww.unicreditbank.si which still is beingupgraded in accordance with the newguidelines for design and use of thewebpage. Work efficiency in this area isregularly monitored by analysing users’experiences.We organized numerous events for businesspartners of the Corporate Banking andTreasury divisions. Information sessionevents such as “Bank Austria Creditanstalt’sFinancial days”, “Treasury Breakfast”and others were mainly dedicated topresentations of financing exportingbusinesses, managing monetary assets,derivative financial instruments forhedging exchange rates and interest risksand presentation of the issuance of DrogaKolinska bonds, while the traditional EuropeForum featured the introduction of the currenttopic of cross-border financing solutions forinternational companies.We approached target segments, composedof new and existing clients, through variouscommunication channels and presentedthem with innovative and tailor-madebanking products. With modern marketingcommunications we proved ourselves as aproactive and client-oriented bank.Media RelationsWe are proactive and responsive incommunication with the media as we areaware the media is an important factor whenbuilding the recognition and reputation ofthe Bank. In order to increase the qualityof appearances of our employees and theBank in the media, we carried out a mediaworkshop for management and employeesexposed to the media, a photographyworkshop and a style workshop. Our intentionwas to familiarize employees further withthe meaning of responsiveness, clarity andcredibility in cooperating with the media asa means to success and reputation for theBank.At the press conference in March 2007, wepresented to the media business resultsfrom 2006; these results ranked us in 4thplace in Slovenia based on assets. When welaunched a new product on the Slovenianmarke a short-term structured deposit weinvited media representatives to a breakfastwhere they were able to obtain more productdetails in an informal setting. The mediaresponded well to the presentation andpublished numerous articles. The result was agood response from the public and investors,who decided to entrust their assets to theBank. The September press conference infront of the branch office in Ljubljana, atWolfova street, was organized to announcethat the Bank was beginning to operateunder the new name. We hosted more than20 Slovenian reporters on site. On thisoccasion, Chairman of the ManagementBoard, Dr. France Arhar, unveiled the logo››UniCredit Bank« above the branch office inthe centre of Ljubljana.Number of published articles on Bank AustriaCreditanstalt d.d. Ljubljana or UniCreditBanka Slovenija d.d. in previous yearsMonth 2005 2006 2007January 108 76 179February 75 136 114March 127 141 126April 95 92 101May 132 104 128June 125 133 157July 80 85 83August 101 163 81September 189 127 116October 141 111 122November 137 144 125December 73 115 122Total 1383 1427 1454Numerous press releases with informationon the Bank and UniCredit Group eventsas well as the analyses of the economicenvironment were conveyed to the mediathroughout the year. Moreover, we designedand upgraded a new press centre on ourwebpage. Many answers to journalists’questions were prepared (we received 456journalist questions in 2006 and 480 in2007). Our media presence was intensified140 2007 Annual Report · UniCredit Bank


with the active and open approach tojournalists in 2007 even though the end of2006 had been marked with the introductionof the euro and, consequently, morepublished articles and broadcasts.Relations with SuppliersOver the years, UniCredit Banka Slovenijad.d. has established a recognizable nameas a successful and innovative bank and itssuppliers contribute an important part of thereputation. At the end of 2007, we organizeda meeting with our suppliers with intentionto shift from a traditional relationship to apartnership with them. The latter means arelationship driven by trust and long-termbusiness cooperation. The theme of themeeting was mutual support through whichwe could all develop and achieve a higherlevel of customer satisfaction. We expressedour gratitude to them for successfulcooperation in 2007 and introduced themto significant future projects. Furthermore,we pointed out that client wishes andexpectations are increasing each year,which leads to fierce competition, whereinsuccessful corporations are aware of theimportance of strategic partnership betweentheir suppliers and the company. Suppliersare a mirror of a company so we make everyeffort to underline the relationship we havewith our suppliers with loyalty, opennessand mutual satisfaction.Relations withLocal CommunitiesA local marketing initiative came to lifein 2007. On their own initiative, theBank’s business units were independentlycommunicating with the local marketthrough a variety of communicationchannels. Besides publishing andbroadcasting planned articles in localmedia, the business units also conductedlocal advertising campaigns, events, anddirect marketing. They made donationsto local organizations and individuals,participated in sports and cultural eventsand sponsored local fund raisers (traditionalKurentovanje in Ptuj, Night on the Lake,Musica Panonia, “Let’s Stay Friends”spectacle, Summer Nights in Vransko etc.).We had a presence at the Celje Fair and atthe 10th Days of Quality and Innovativeness;we also made donations to the Ivan Cankarprimary school. Through direct mail andother activities, we contributed to thevolume of communicating these activitiesand the Bank’s offer.Education about media communicationsand expert help undoubtedly contributedto our success at the local level; expertshelped our business units to set businessand operating guidelines and monitored theuniform appearance of the corporate logo inthe community.Sponsorship andDonationsCreating lasting value is a preconditionfor the long-term success of a company.Therefore, we return a portion of theacquired assets back to our localcommunities and at the national levelthrough sponsorships and donations.In 2007, sponsorships and donationscontinued to follow the determined direction,especially in culture, helping sociallyimpaired individuals and children. Ourefforts toward socially responsible behaviourbrought results through contributions toprojects like Red Noses, the charity bazaarof the SILA association, Project Man, SilentAngels, Association Humana and others.We honoured our tradition of supporting theSlovenian Philharmonic Orchestra’s newinstrument purchase fund this time for aFrench horn we supported the Ana DesetnicaStreet Theatre Festival, the Spring Festivalas well as a few others. On occasion of theNew Year, we donated to five local maternityhospitals and thus connected the value ofdonating with the theme of new birth, whichwe used in our corporate communicationsaccompanying the re-branding materials.UniCredit Bank · 2007 Annual Report 141


Report from the Supervisory BoardReport from the Supervisory Board2007 was a year of changes for the Bank. The most significantof these changes was reflected in the name change andthe adjustment and integration from the old to new Bank’sregulations, which meant vigorous integration with theapplicable legislation and management scheme of UniCreditGroup. The Bank changed its name from Bank AustriaCreditanstalt d.d. Ljubljana to UniCredit Banka Slovenija d.d.and other activities related to the Bank’s operating business;the economic and political environment; important changesof legislation that affected the Bank’s operating business; andachieved financial results as compared to the adopted financialplan of operations. The Management Board also regularlyinformed the Supervisory Board about the expected financialresults through the end of the fiscal year and about end results.Furthermore, the Bank’s Supervisory Board also experiencedchanges last year. At the General Meeting of Shareholders, on24 April 2007, the former Supervisory Board was relieved ofduty; members of that Supervisory Board were Mag. HelmutBernkopf (Chairman), Dr. Erhard Gehberger, Herbert Hangel(Deputy Chairman), Mag. Martin Klauzer and Mag. FriedrichRacher. New Supervisory Board members were appointed totake their place: Federico Ghizzoni, Mag. Wolfgang Edelmüller,Mag. Helmut Haller, Herbert Hangel and Mag. Martin Klauzer.The new Supervisory Board appointed Federico Ghizzoni asChairman and Herbert Hangel as Deputy Chairman on 25 April2007. The specific ownership structure, whereby Bank AustriaCreditanstalt AG Vienna is almost a 100 % owner of the Bankand its majority owner is UniCredit S.p.A., is also reflected inthe composition of the Supervisory Board as all of its membersalso are employees of these two companies. Moreover, themembers are not personally, directly or indirectly, involvedin the ownership structure nor are they in any businessrelationship with the Bank, thus avoiding any potential conflictsof interests. Regardless, the financial group UniCredit Grouphas all the eligible mechanisms to control and solve potentialconflicts of interests, should they occur.In 2007, the Supervisory Board regularly monitored andoversaw current business operations of the Bank, financialresults attained and work of the Management Board, inaccordance with its powers, authorizations and duties as setout in the Articles of Association of the Bank, the CompaniesAct and the Banking Act. The Bank’s Management Boardkept members of the Supervisory Board informed of thefollowing issues: all important business events in the BankThe Supervisory Board met and adopted resolutions at tworegular meetings as well as at correspondence sessions. Atthe first regular meting, which took place on 7 May 2007 allmembers of the Board were present: Federico Ghizzoni (viavideoconference), Mag. Wolfgang Edelmüller, Mag. HelmutHaller, Herbert Hangel and Mag. Martin Klauzer. All Boardmembers were also present at the second regular meeting,taking place on 12 November 2007 (Federico Ghizzoni,Mag. Wolfgang Edelmüller, Mag. Helmut Haller, HerbertHangel and Mag. Martin Klauzer). In line with legislationprovisions, its powers as set out in the Articles of Associationand in accordance with the Bank’s need for efficient work,individual resolutions were also adopted at Supervisory Boardcorrespondence sessions and subsequently presented andvalidated during the next regular meeting of the SupervisoryBoard. The Supervisory Board participated in the approval ofall measures and activities required to implement the overallbusiness policy of the parent banking groups. It also approvedthe development plan and the Bank’s basic business policiesfor 2007. Moreover, the Supervisory Board was regularlyinformed about the implementation of the plan of work ofInternal Audit and its findings, as well as the inspectionsconducted by external institutions. The Supervisory Board alsoapproved the Internal Audit Plan for 2007.The Bank’s Management Board presented for discussion tothe Supervisory Board a resolution on use of the net profit forfiscal year 2007 in the amount of 15,181,297.60 euros anda draft resolution on use of accumulated profit for fiscal year2007 in the amount of 7,590,648.80 euros. Given the plannedexpansion of operations in 2008, and in subsequent years, theUniCredit Bank · 2007 Annual Report 143


Report from the Supervisory BoardReport from the Supervisory BoardManagement Board proposed in accordance with the adoptedmid-term plans of the Bank and with a view to meeting the capitaladequacy requirements that the Bank’s net profit be allocated, inits entirety, to other Bank reserves instead of being distributedto shareholders or other persons. The Bank’s ManagementBoard also proposed that the Supervisory Board and the GeneralMeeting of Shareholders adopt the proposed resolution onthe use of net profit for fiscal year 2007, in accordance withtheir powers. The adoption of such a resolution will allow forthe bank’s future growth. The Supervisory Board adopted theresolution on the use of the net profit for 2007, approved theManagement Board’s proposal for the use of accumulated profitfor 2007, and recommended to adopt it in the proposed form atthe General meeting of Shareholders.The Management Board prepared the Annual Report on theBusiness Operations of UniCredit Banka Slovenija d.d. in 2007and presented it to the Supervisory Board for review by thelegally prescribed deadline. Together with the Annual Report, theSupervisory Board also received the Audit Report on the reviewof financial statements for fiscal year 2007, prepared by thelicensed auditing company KPMG Slovenija d.o.o., allowing theSupervisory Board to formulate a position on the Audit Report.The Supervisory Board reviewed the submitted Annual Report.It established that the Annual Report was consistent with thereports and information on the Bank’s performance in 2007,as well as with the reports on the economic and politicalenvironment in which the Bank operates and which werepresented to the Supervisory Board during the course of thefiscal year. Comparing the Annual Report with the auditedfinancial statements for fiscal year 2007, the Supervisory Boardestablished that the financial results presented in the AnnualReport were consistent with the Audit Report. Having examinedthe reports, findings and recommendations of the InternalAudit and external auditors, the Management Board took theserecommendations into consideration and carried out the activitiesnecessary for their implementation or ensured their initiation.In the opinion of the Supervisory Board, both the ManagementBoard and the Supervisory Board fulfilled all their legalrequirements in fiscal year 2007. Based on the regular monitoringof the Bank’s operations and the above mentioned reviews, theSupervisory Board approved the Annual Report on the Bank’sbusiness operations in 2007.The Audit Report on the review of the financial statements forfiscal year 2007, which was presented to the Supervisory Boardalong with the Annual Report, also includes the opinion of thecertified auditor. The certified auditor issued an unqualifiedopinion. The Supervisory Board was briefed about the Bank’sAudit Report for 2007 and had no objections thereto.The changes of the Articles of Association (adopted in 2007),which determined that the Supervisory Board meet once quarterlyinstead of once every six months, as previously established, alsowill increase the efficiency of the Board’s work. The SupervisoryBoard also approved the Management Board’s Rules of workprocedure and adopted the Supervisory Board’s Rules of workprocedure, which determine the internal organization andoperations of each Board. In line with the rules of UniCreditGroup, it suggested forming an audit committee.The Supervisory Board deems its work in 2007 as professionaland in line with the valid legislation and internal rules ofUniCredit Group.Federico GhizzoniChairman of the Supervisory BoardUniCredit Banka Slovenija d.d.144 2007 Annual Report · UniCredit Bank


Statement of ResponsibilityStatement of ResponsibilityThe Management is responsible for preparing the financialstatements for the financial year. These give a true and fair view ofthe state of affairs of UniCredit Banka Slovenija d.d. as of the endof the financial year and of the profit or loss and cash flow for thatyear. The financial statements are prepared on a going-concernbasis.In preparing the financial statements in annual report for the yearended 31 December 2007, the management has used appropriateaccounting policies, consistently applied and supported them byreasonable and prudent judgments and estimates, and ensured thatall accounting standards which they consider significant have beenfollowed.Management has the responsibility for ensuring that the Bank keepsaccounting records which disclose with reasonable accuracy theBank’s financial position and which enable the management toensure that the financial statements comply in all material respectswith the regulations of the Government of the Republic of Slovenia,the Central Bank of Slovenia and the International FinancialReporting Standards as adopted by the EU. Management also has ageneral responsibility to take such steps as are reasonably requiredto safeguard the assets of the Bank and to prevent and detect anyfraud and other irregularities.On behalf of the ManagementDr. France ArharChairmanof the Management BoardDr. Heribert FernauMemberof the Management BoardLjubljana, 20 February 2008UniCredit Bank · 2007 Annual Report 145


Report of AuditorsReport of AuditorsUniCredit Bank · 2007 Annual Report 147


Accounting ReportAccounting ReportFinancial Indicators 149Balance Sheet 150Statement of Income 151Statement of Changes in Shareholders’ Equity 152Cash Flow Statement 153Summary of Accounting Policies 154Notes on the Financial Statements 162148 2007 Annual Report · UniCredit Bank


Financial Indicators2007 2006 2005Balance sheet EUR 1,000Volume of assets 2,132,693 2,187,291 1,883,434Deposits, non-banks 721,539 594,162 625,401Deposits, legal and other entities 370,875 371,466 421,512Deposits, private customers 350,664 222,696 203,889Loans, non-banks 1,595,225 1,266,621 1,003,896Loans, legal and other entities 1,159,762 948,895 791,588Loans, private customers 435,463 317,726 212,309Equity 163,615 146,868 138,309Impairment of assets, measured at amortised cost 16,181 12,144 13,177Provisions for off balance sheet items 1,071 1,429 890Off balance sheet items 5,765,607 2,600,533 1,106,695Income statementNet interest income 35,750 32,902 29,010Net non interest income 20,278 15,704 10,730Staff expenses (15,424) (13,125) (11,545)Other administrative expenses (13,419) (12,399) (8,397)Depreciation (3,165) (2,919) (2,544)Provisions (4,306) (5,408) (2,954)Net income before taxes 19,712 14,754 14,299Corporate income tax (4,531) (3,822) (3,349)EmployeesNumber of employees at 31. 12. 450 417 391Ordinary sharesNumber of shareholders 28 28 28Book value of the ordinary shares for nominal values:EUR 417.29 - 3,766.93 3,716.33EUR 41.73 - 376.69 371.63EUR 4.17 41.96 37.67 37.16Number of shares for nominal values:EUR 417.29 - 13,000 13,000EUR 41.73 - 120,028 120,028EUR 4.17 3,898,878 1,398,598 1,221,378EquityCapital adequacy 8.50 9.50 10.30Assets quality and commitmentsProvisions for assets measured at amortised costs/Volume of assets 0.76% 0.56% 0.70%Provisions for commitments/Off balance sheet items 9.47% 17.52% 30.39%ProfitabilityInterest margin 1.81 1.70 1.82Return on assets before taxes 1.00 0.76 0.64Return on equity before taxes 12.69 10.35 9.84Return on equity after taxes 9.77 7.67 7.61Operating costsOperating costs/average assets volume 1.62 1.47 1.43LiquidityRisk weighted assets 1,632,425 1,052,532 859,610Average liquid assets/average assets 8.11 7.70 5.99Average liquid assets/average short-term deposits nonbanks 27.85 29.46 21.92Margin of financial brokerage 2.84 2.51 2.55UniCredit Bank · 2007 Annual Report 149


Accounting ReportBalance SheetPosition Number Content Note 31. 12. 2007 31. 12. 2006EUR 1,000A, 1, Cash and cash balances with central banks 1 27,753 18,547A. 2. Financial assets held for trading 2 189,263 117,419A. 3. Financial assets designated at fair value through profit or loss 3 20,444 30,359A. 4. Available-for-sale financial assets 4 115,377 157,859A. 5. Derivatives - hedge accounting 5 1,818 863A. 6. Loans and receivables 6 1,743,388 1,645,402to banks 148,164 378,781to customers 1,595,225 1,266,621A. 7. Held-to-maturity financial assets 7 - 188,414A. 8. Tangible assets 8 6,442 6,805A. 9. Intangible assets 9 7,049 6,722A. 10. Tax assets 10 8,235 4,929current tax assets 4,753 766deferred tax assets 3,482 4,163A. 11. Other assets 11 12,924 9,972Total assets 2,132,693 2,187,291P. 1. Financial liabilities held for trading 12 50,445 23,182P. 2. Derivatives - hedge accounting 5 91 667P. 3. Financial liabilities measured at amortised cost 13 1,904,250 1,999,901time deposits from banks 948,099 1,129,312time deposits from customers 721,539 594,162loans from banks 234,612 276,427P. 4. Provisions 14 1,071 1,429P. 5. Tax liabilites 15 2,915 9,104current tax liabiliteis - 6,253deferred tax liabilities 2,915 2,851P. 6. Other liabilites 16 10,306 6,140P. 7. Share capital 17 16,258 16,270P. 8. Share premium 17 61,885 61,873P. 9. Fair value reserves 17 (502) (2,068)P. 10. Retained earnings 17 78,383 65,327P. 11. Net profit for the year 17 7,591 5,466Total liabilites and equity 2,132,693 2,187,291B. Off balance sheet items (B.1 - B.4) 32 5,765,607 2,600,533Dr. France ArharChairman of the Management BoardDr. Heribert FernauMember of the Management Board150 2007 Annual Report · UniCredit Bank


Statement of IncomeNumber Content Note 2007 2006EUR 1,0001 Interest income 18 115,114 77,7702 Interest expense 18 (79,364) (44,868)3 Interest net income (1 - 2) 18 35,750 32,9024 Dividend income 19 21 565 Fee and commission income 20 34,687 20,4826 Fee and commission expenses 20 (17,603) (7,336)7 Fee and commission net income (5 - 6) 20 17,084 13,1468 Realised gains and losses on financial assets and liabilities not measured at fair value through profit and loss 21 (751) 6869 Gains and losses on financial assets and liabilities held for trading 22 4,255 3,19910 Gains and losses on financial assets and liabilities designated at fair value through profit or loss 23 41 (595)11 Exchange differences 24 (537) (762)12 Gains and losses on derecognition of assets other than held for sale 25 (30) (22)13 Other operating net income 26 193 (5)14 Financial and operating income and expenses 56,026 48,60615 Administration costs 27 (28,843) (25,524)16 Depreciation 28 (3,165) (2,919)17 Provisions 29 348 (644)18 Impairment 30 (4,654) (4,765)19 TOTAL PROFIT OR LOSS BEFORE TAX FROM CONTINUING OPERATIONS 19,712 14,75320 Tax expense (income) related to profit or loss from continuing operations 31 (4,531) (3,821)21 NET PROFIT OR LOSS FOR THE FINANCIAL YEAR 15,181 10,932Earning per share for 31 December 2007 amounts to 3,89 euros (2006: 2,80 euros)Dr. France ArharChairman of the Management BoardDr. Heribert FernauMember of the Management BoardUniCredit Bank · 2007 Annual Report 151


Accounting ReportStatement of Changesin Shareholders’ EquityStatement of changes in shareholders’ equity 2007 (EUR 1,000)Positions Content Share capital SharepremiumRevaluationreservesReservesfrom profitRetainedearningsNet profitfor the yearTotal equity1 OPENING BALANCE FOR THE REPORTING PERIOD 16,270 61,873 (2,068) 52,357 12,970 5,466 146,8682 Net gains/losses in revaluation reserves from financial assetsavailable for sale519 5193 Net gains/losses in revaluation reserves from cash flow hedge 1,047 1,0474 Total gains/losses after tax recognised directlyin equity (2 - 3)5 Net profit or loss for the financial year (from Statement ofincome)1,566 1,56615,181 15,1816 Total net profit or loss for the financial year recognisedin equity (5) 15,181 15,1817 Transfer of net profit to reserves from profit 26,026 (12,970) (13,056)8 Other (denomination of share capital) (12) 129 CLOSING BALANCE FOR THE REPORTING PERIOD 16,258 61,885 (502) 78,383 7,591 163,61510 BALANCE SHEET AVAILABLE PROFIT FOR FINANCIALYEAR7,591 7,591Statement of changes in shareholders’ equity 2006 (EUR 1,000)Positions Content Share capital SharepremiumRevaluationreservesReservesfrom profitRetainedearningsNet profitfor the yearTotal equity1 OPENING BALANCE FOR THE REPORTING PERIOD 15,530 62,613 268 42,974 12,971 3,916 138,2722 Net gains/losses in revaluation reserves from financial assetsavailable for sale(2,531) (2,531)3 Net gains/losses on revaluation reserves from cash flow hedge 195 1954 Total gains/losses after tax recognised directlyin equity (2 - 3)5 Net profit or loss for the financial year (from Statement ofincome)(2,336) (2,336)10,932 10,9326 Total net profit or loss for the financial year recognisedin equity (5) 10,932 10,9327 Registration (or payment) of equity 740 (740)8 Transfer of net profit to reserves from profit 9,383 (1) (9,382)9 CLOSING BALANCE FOR THE REPORTING PERIOD 16,270 61,873 (2,068) 52,357 12,970 5,466 146,86810 BALANCE SHEET AVAILABLE PROFIT FOR FINANCIALYEAR12,970 5,466 18,436Dr. France ArharChairman of the Management BoardDr. Heribert FernauMember of the Management Board152 2007 Annual Report · UniCredit Bank


Cash Flow StatementPosition Content 2007 2006EUR 1,000A. CASH FLOWS FROM OPERATING ACTIVITIESa) Total profit or loss before tax 19,712 14,754Depreciation 3,165 2,919Impairments / (reversal of impairments) of financial assets held to maturity 4,642 4,678Impairments of tangible assets, investment property, intangible fixed assets and other assets 12 -Net (gains) / losses from exchange differences 537 762Other (gains) / losses from financing activities (1,044) -Net unrealised gains in revaluation reserves from financial assets available for sale (excluding effect of deferred tax) (38) 86Net unrealised gains in revaluation reserves from hedging of cashflows against risks (excluding effect of deferred tax) 1,336 121Other adjustments to total profit or loss before tax (348) 644Cash flow from operating activities before changes in operating assets and liabilities 27,974 23,964b) (Increases) / decreases in operating assets (excluding cash equivalents) (261,908) (385,837)Net (increase) / decrease in balances with central bank - 6,279Net (increase) / decrease in financial assets held for trading (16,909) (16,917)Net (increase) / decrease in financial assets designated at fair value through profit or loss 9,825 -Net (increase) / decrease in financial assets available for sale 736 (106,068)Net (increase) / decrease in loans and receivables (251,862) (260,232)Net (increase) / decrease in other assets (3,698) (8,898)c) (Increases) / decreases in operating liabilities (80,041) 279,288Net (increase) / decrease in deposits, loans and receivables and debt securities measured at amortised cost (84,419) 276,440Net (increase) / decrease in other liabilities 4,378 2,848d) Cash flow from operating activities (a+b+c) (313,975) (82,585)e) Income taxes (paid) refunded (14,546) (4,153)f) Net cash flow from operating activities (d+e) (328,521) (86,738)B. CASH FLOWS FROM INVESTING ACTIVITIESa) Receipts from investing activities 145 1,178,734Receipts from the sale of tangible assets and investment properties 145 53Receipts from the sale of financial assets held to maturity - 1,178,681b) Cash payments on investing activities (3,183) (1,181,626)(Cash payments to acquire tangible assets and investment properties) (1,306) (2,264)(Cash payments to acquire intangible fixed assets) (1,877) (1,989)(Cash payments to acquire held to maturity investments) - (1,177,372)c) Net cash flow from investing activities (a-b) (3,038) (2,891)C. CASH FLOWS FROM FINANCING ACTIVITIESa) Cash proceeds from financing activities - -b) Cash payments on financing activities - -c) Net cash flow from financing activities (a-b) - -D. Effects of change in exchange rates on cash and cash equivalents (1,210) (33)E. Effects of change in fair value on cash and cash equivalents (938) (1,065)F. Net increase in cash and cash equivalents (Af+Bc+Cc) (331,559) (89,630)G. Opening balance of cash and cash equivalents 563,756 654,484H. Closing balance of cash and cash equivalents (D+E+F+G) 230,049 563,756Dr. France ArharChairman of the Management BoardDr. Heribert FernauMember of the Management BoardUniCredit Bank · 2007 Annual Report 153


Accounting ReportSummary of Accounting PoliciesGeneral InformationUniCredit Banka Slovenija d.d. is a commercial bank incorporatedin Slovenia and provides a wide variety of financial services tocorporate and individual customers. The Bank was registered as ajoint-stock company on 24 January 1991. The Bank’s legal addressis Šmartinska 140, Ljubljana, Slovenia. On 31 December 2007, theBank was operating a total of 14 branches throughout Slovenia. Theultimate parent company of the Bank is UniCredit S.p.A., Genova.Consolidated financial statements are available from UniCreditoItaliano S.p.A, Via San Protaso 1/3, 20121 Milan, Italy.The Bank’s main areas of operation are as follows:• accepting deposits from the public and placing of deposits;• providing current and term-deposit accounts;• granting short- and long-term loans and guarantees to the StateTreasury, local municipalities, corporate customers, privateindividuals and other credit institutions dealing with finance leaseand foreign exchange transactions;• treasury operations in the interbank market;• trust management and investment banking services;• performing local and international payments; and• providing retail banking services through its branch network inSlovenia.These unconsolidated financial statements have been approved forissue by the Board of Directors on 26 February 2008.Summary of Accounting PoliciesThe principal accounting policies applied in the preparation of thesefinancial statements are set out below. These policies have beenconsistently applied to all the years presented, unless otherwisestated.Statement of complianceThese unconsolidated financial statements have been prepared inaccordance with the International Financial Reporting Standards(IFRS) and interpretations approved by the International AccountingStandards Board (IASB) as adopted by the European Union. As ofthe date of issuing these financial statements, the IFRS as adoptedby the European Union does not differ from the IFRS as issued bythe IASB, except for portfolio hedge accounting under IAS 39 whichhas not been approved by the EU. The Bank does not use portfoliohedging and hence has determined that portfolio hedge accountingunder IAS 39 would have no impact on the financial statements hadit been approved by the EU as of the balance sheet date.These financial statements are prepared in accordance with theInternational Financial Reporting Standards (IFRS) under thehistorical cost convention, except for certain financial instrumentsmeasured at fair value.The preparation of financial statements requires managementto make judgments, estimates and assumptions that affect theapplication of accounting policies and the reported amounts ofassets, liabilities, income and expenses. Actual results may differfrom these estimates.Estimates and underlying assumptions are reviewed on an ongoingbasis. Revisions to accounting estimates are recognised in theperiod in which the estimate is revised and in any future periodsaffected.In particular, information about significant areas of estimationuncertainty and critical judgments in applying accounting policiesthat have the most significant effect on the amount recognised in thefinancial statements are described in Risk report.154 2007 Annual Report · UniCredit Bank


Comparative amountsComparative amounts for the year 2006 have been reclassified toconform with the current year’s presentation as follows:• In Balance sheet are claims and liabilities for interestsreclassified to appropriate instrumentChanges in accounting policiesThe changes in accounting policies were as follows:• All financial assets held by the Bank are recognised using tradedate accounting (in 2006 settlement date accounting) exceptloans and receivables, which are recognized when cash isadvanced to the borrowers (see Note 2).• Fair value adjustment was recognized in profit and loss statement(for financial assets held for trading) and in equity (for availablefor sale financial assets) (see Notes 17 and 22).• The Bank has increased the limit for recognition of small itemsfrom 100 euros to 400 euros directly through statement of income.Assets up to that amount already recognized in balance sheet,were written-off as depreciation (see Note 8).• The Bank has changed useful lives of certain groups of propertyand equipment as well as intangible assets (see Note 8).• Foreign currency translation (see explanation below)• The Bank recognized in 2007 for the first time the cost ofcompensated absences for unused holidays (see Note 27).The Bank decided voluntary to adopt all these changes.Interpretations issued but not yet effectiveA number of new standards, amendments to standards andinterpretations are not yet effective for the year ended 31 December2007, and have not been applied in preparing these financialstatements:• IFRS 8 Operating Segments introduces the “managementapproach” to segment reporting. IFRS 8, which becomesmandatory for the Bank’s 2009 financial statements, will requirethe disclosure of segment information based on the internalreports regularly reviewed by the Bank’s Chief Operating DecisionMaker in order to assess each segment’s performance and toallocate resources to them.• Revised IAS 23 Borrowing Costs removes the option to expenseborrowing costs and requires that an entity capitalises borrowingcosts directly attributable to the acquisition, construction orproduction of a qualifying asset as part of the cost of that asset.The revised IAS 23 will become mandatory for the Bank’s 2009financial statements and will constitute a change in accountingpolicy for the Bank. In accordance with the transitional provisionsthe Bank will apply the revised IAS 23 to qualifying assets forwhich capitalisation of borrowing costs commences on or after theeffective date.• IFRIC 11 IFRS 2 - Bank and Treasury Share Transactions requiresa share-based payment arrangement in which an entity receivesgoods or services as consideration for its own equity instrumentsto be accounted for as an equity-settled share-based paymenttransaction, regardless of how the equity instruments are obtained.IFRIC 11 will become mandatory for the Bank’s 2008 financialstatements, with retrospective application required. It is notexpected to have any impact on Bank’s financial statements.• IFRIC 12 Service Concession Arrangements provides guidanceon certain recognition and measurement issues that arise inaccounting for public-to-private service concession arrangements.IFRIC 12, which becomes mandatory for the Bank’s 2008 financialstatements, is not expected to have any effect on its financialstatements.• IFRIC 13 Customer Loyalty Programmes addresses the accountingby entities that operate, or otherwise participate in, customerloyalty programmes for their customers. It relates to customerloyalty programmes under which the customer can redeem creditsfor awards such as free or discounted goods or services. IFRIC13, which becomes mandatory for the Bank’s 2009 financialstatements, is not expected to have any impact on its financialstatements.• IFRIC 14 IAS 19 - The Limit on a Defined Benefit Asset, MinimumFunding Requirements and their Interaction clarifies when refundsor reductions in future contributions in relation to defined benefitassets should be regarded as available and provides guidanceon the impact of minimum funding requirements (MFR) on suchassets. It also addresses when a MFR might give rise to a liability.IFRIC 14, which becomes mandatory for the Bank’s 2008 financialstatements, is not expected to have any impact on its financialstatements.Foreign currency translationFunctional and presentation currency: Items included in the financialstatements are measured in euros, which is the Bank’s functional andpresentation currency. Comparative financial statements for 2006were originally represented in the Slovenian tolar, translated to eurowith the fixed rate of 239,64.UniCredit Bank · 2007 Annual Report 155


Accounting ReportSummary of Accounting PoliciesTransactions and balances: Foreign currency transactions aretranslated into the functional currency using the European CentralBank exchange rates at the dates of the transactions. The Bank haschanged its policy in 2007. Up to 12 December 2007, the EuropeanCentral Bank exchange rate was used for foreign currency translationof balances next day after being published. From 12 December2007 on, European Central Bank exchange rate is used already on itspublishing date. Foreign exchange gains and losses resulting fromthe settlement of such transactions and from the translation at yearendexchange rates of monetary assets and liabilities denominatedin foreign currencies are recognized in the income statementexcept when deferred in equity as qualifying cash flow hedges andavailable-for-sale investments.Forward transactions denominated in a foreign currency aretranslated into euro using the forward rate.The spot rates of exchange used in preparation of the Bank’s balancesheet as of the reporting date were as follows:Currency 31. 12. 2007 31. 12. 2006EUR 1.0000 1.0000USD 1.4721 1.3172CHF 1.6547 1.6080Financial assetsThe Bank classifies its financial assets in the following categories:financial assets at fair value through profit or loss, loans andreceivables, held-to-maturity investments and available-for-salefinancial assets. The Bank determines the classification of itsinvestments at initial recognition.The Bank has changed in 2007 its policy on recognition andderecognition of financial assets. All financial assets held by theBank are recognized and derecognized using trade date accountingexcept loans and receivables, which are recognized when cash isadvanced to the borrowers. When a financial asset is recognisedinitially, the Bank measures it at its fair value plus, in the case ofa financial asset not at fair value through profit or loss, transactioncosts that are directly attributable to the acquisition of the financialasset.The Bank derecognises a financial asset when the contractualrights to the cash flows from the asset expire, or it transfers therights to receive the contractual cash flows on the financial assetin a transaction in which substantially all the risks and rewardsof ownership of the financial asset are transferred. Any interest intransferred financial assets that is created or retained by the Bank isrecognised as a separate asset or liability.The Bank derecognises a financial liability when its contractualobligations are discharged or cancelled or expire.(a) Financial assets at fair value through profit or lossThis category contains financial assets held for trading and thosewhich are upon initial recognition designated by the Bank as at fairvalue through profit or loss.• A financial asset is classified as held for trading if it is acquiredor incurred principally for the purpose of selling or repurchasingin the near term or if it is part of a portfolio of identified financialinstruments that are managed together and for which there isevidence of a recent actual pattern of short-term profit-taking.Derivatives are also categorized as held for trading unless they aredesignated as hedging instruments.Subsequent to the initial recognition these financial assets areaccounted for and stated at their fair value, which approximatesthe price quoted on recognised stock exchanges or calculated byacceptable valuation models. The Bank includes unrealised gainsand losses in ‘Gains and losses on financial assets and liabilitiesheld for trading’. Interest earned on trading securities is accruedon a daily basis and reported in ‘Interest income’ in the incomestatement. Their amount is presented in Note 18.• The Bank’s financial assets are designated at fair value throughprofit and loss when doing so significantly reduces measurementinconsistencies that would arise if the related derivativeswere treated as held for trading and the underlying financialinstruments were measured at effective interest method.Loans measured at fair value through profit and loss are fixed-rateloans which are hedged at the loans’ reference rate with interestrate swaps. Loans are designated at their fair value through profitand loss in order to avoid a mismatch in the presentation of theeconomic content of a transaction. The change in fair value ofloans is based on a marked to model methodology on a monthlybasis.156 2007 Annual Report · UniCredit Bank


(b) Loans and receivablesLoans and receivables are non-derivative financial assets with fixedor determinable payments that are not quoted in an active market,other than:• Those that the Bank intends to sell immediately or in the shortterm, which are classified as held for trading, and those that theBank upon initial recognition designates as at fair value throughprofit or loss• Those that the Bank upon initial recognition designates asavailable for sale; or• Those for which the holder may not recover substantially all of itsinitial investment, other than because of credit deterioration.Loans and receivables are carried at effective interest method. Aslong as the Bank did not apply program solution for recognizing feesfor corporate loans using effective interest method, those fees areaccrued linearly.The Bank assesses at each reporting date whether there is anyindication that an asset may be impaired. If any such indicationexists, the Bank estimates the recoverable amount of the asset.An individual assessment of financial assets is used for all loans,apart from private customers, where a portfolio assessment of thequality of a financial asset is applied.Insignificant third-party expenses, such as legal fees incurred insecuring a loan are treated as part of the cost of the transaction whilefor material third-party expenses they are amortised over the usefullife of the loan. All loans and receivables are recognised when cashis advanced to borrowers.(c) Held to maturity investmentsHeld to maturity investments are non-derivative financial assetswith fixed or determinable payments and fixed maturities that theBank has the positive intention and ability to hold to maturity. Thisportfolio comprises debt securities.Held-to-maturity investments are measured at effective interestmethod.The Bank assesses at each reporting date whether there is anyindication that an asset may be impaired. If any such indicationexists, the Bank estimates the recoverable amount of the asset.(d) Available-for-sale financial assetsAvailable-for-sale financial assets are those non-derivative financialassets that are designated as available for sale or are not classifiedas loans and receivables, held-to-maturity investments or financialassets at fair value through profit or loss. This portfolio includes bothequity and debt securities.Subsequent to their initial recognition, available-for-sale financialassets are remeasured at their fair value. In circumstances where thequoted market prices are not readily available, the fair value of debtsecurities is estimated using the present value of future cash flowsand the fair value of unquoted equity instruments is estimated usingapplicable price/earnings or price/cash flow ratios refined to reflectthe specific circumstances of the issuer.A gain or loss on an available-for-sale financial asset is recogniseddirectly in equity, through the statement of changes in equity, exceptfor impairment losses and foreign exchange gains and losses, untilthe financial asset is derecognised, at which time the cumulativegain or loss previously recognised in equity is recognised inprofit or loss. However, interest calculated are accrued daily usingthe effective interest method and is recognised in profit or loss.Dividends on an available-for-sale equity instruments are recognisedin profit or loss when the Bank’s right to receive payment isestablished.Derivative financial instrumentsIn the normal course of business, the Bank is a party to contractsfor derivative financial instruments, which represent a very lowinitial investment compared to the notional value of the contract.The derivative financial instruments used include interest rateand currency forward, swap and option contracts. These financialinstruments are used by the Bank to hedge interest rate risk andcurrency exposures associated with its transactions in financialmarkets, to open its positions actively and to sell those instrumentsto the customers.Derivative financial instruments are initially recognised at cost andsubsequently remeasured at their fair value. Fair values are obtainedfrom quoted market prices, discounted cash flow models and optionspricing models as appropriate. Changes in the fair value of derivativefinancial instruments that do not qualify for hedge accounting arerecognised in the ‘Gains and losses on financial assets and liabilitiesheld for trading’ as they arise. All derivatives are carried as assetswhen the fair value is positive and as liabilities when the fair value isnegative.UniCredit Bank · 2007 Annual Report 157


Accounting ReportSummary of Accounting PoliciesThe fair value of derivative instruments held for trading is disclosedin Notes 2 and 12, while notional contract values are disclosed inNote 32, ‘Off balance sheet items, financial derivatives.’Foreign currency contractsForeign currency contracts are agreements to exchange specificamounts of currencies at a specified rate of exchange, on a spot date(settlement occurs two days after the trade date) or on a forwarddate (settlement occurs more than two days after the trade date).The notional amount of these contracts does not represent theactual market or credit risk associated with these contracts. Foreigncurrency contracts are used by the Bank for risk management andtrading purposes.Foreign exchange swaps and interest rate swapsThe Bank enters into foreign-exchange swap and interest rate swaptransactions. The foreign exchange swap transaction is a complexagreement concerning the swap of certain financial instruments,which usually consist of a prompt trade and one (FX swap) or more(cross-currency swap) future contracts.Interest rate swaps oblige two parties to exchange one or morepayments calculated with reference to fixed or periodically resetrates of interest applied to a specific notional principal amount. Thenotional principal is the amount upon which interest rates are appliedto determine the payment streams under interest rate swaps. Suchnotional principal amounts often are used to express the volumeof these transactions but are not actually exchanged between thecounter-parties. The Bank’s interest rate swaps were used for themanagement of interest rate exposures and have been accounted forat a mark-to-market value.Option contractsOption contracts represent the formal reservation of the right to buyor sell an asset at the specified quantity within a given time in thefuture and at a certain price. The buyer of the option has the right,but not the obligation, to exercise the right to buy or sell an assetand the seller has the obligation to sell or purchase the asset at thespecified quantity and at the price defined in the option contract.Hedging instrumentsa) fair value hedgeIn 2007, the Bank had not implemented fair value hedgingb) cash flow hedgeIn the case of the designation of a derivative as a cash flow hedge,the hedging instrument is recognised at its fair value. Changes in fairvalue are separated into an effective portion attributable to the hedgeand an ineffective portion not attributable to the hedge. A hedge ishighly effective if the actual changes are within the range of80-125 %. A hedge will be regarded as effective if, for eachtime bucket, the netted cash flows associated with the hedginginstruments are smaller than or equal to the cash flows of the hedgeditem(s).The effective portions are to be recognised directly in equity(cash flow hedge reserve). The ineffective portions are reportedin the income statement if the hedging instrument is a derivative.In order to avoid ineffectiveness, projections are made, especiallyfor limits and potential causes of ineffectiveness. The market riskdepartment runs an efficiency test at the end of each month.Property, plant and equipmentand intangible assetsProperty, plant and equipment as well as intangible assets areinitially recognised at cost. The Bank has chosen for measurementafter recognition cost model, that means asset is carried at its costless any accumulated depreciation and any accumulated impairmentlosses.Depreciation is calculated on a straight-line basis. Land and assetsin the course of construction are not depreciated.The useful lives are set out below:31.12.2007 31.12.2006Leasehold improvements 10 years 10 yearsHardware 4 years 4 yearsFurniture, devices and motorvehicles 4-10 years 8-10 yearsIntangible assets - software 5 years 5 yearsThe Bank periodically reviews the useful life and extends the periodof depreciation if appropriate.Leasehold improvements are capitalised and depreciated over thelesser of their useful life or the remaining lease term on a straightlinebasis.If of a minor extent, repairs and renewals are charged to the incomestatement when the expenditure is incurred.The Bank assesses whether assets may be impaired. If, and only if,the recoverable amount of an asset is less than its carrying amount,158 2007 Annual Report · UniCredit Bank


the carrying amount of the asset is reduced to its recoverableamount. That reduction is an impairment loss.A reversal of an impairment loss for an asset is recognisedimmediately in profit or loss.The carrying amount of an item of property, plant and equipmentis derecognised on disposal or when no future economic benefitsare expected from its use or disposal. The gain or loss arising fromderecognition of an item is included in profit or loss when the itemis derecognised. The gain or loss arising from derecognition ofan asset is determined as the difference between the net disposalproceeds, if any, and the carrying amount of the item.Other assetsOther assets consist of prepaid expenses, accrued income, otherassets held-for-sale and similar assets that are not disclosed underany other item. Assets held-for-sale are stated at their fair value.Financial liabilitiesFinancial liabilities are recognized at fair value. After initialrecognition, the Bank measures all financial liabilities at amortisedcost using the effective interest method.The Bank had not yet recognized any financial liabilities at fair valuethrough profit or loss.The position financial liability held for trading represents negativemarket value of trading derivatives.ProvisionsA provision is recognised when the Bank has a present obligationas a result of a past event and when it is probable that an outflow ofresources embodying economic benefits will be required to settle theobligation and a reliable estimate can be made of the amount of theobligation.Provisions are recognised for:• potential losses relevant to the risks resulting from off-balancesheet items;• jubilee awards and severance payments;• pending or threatened litigation..Cash flow statementFor the purpose of the cash flow statement, cash is defined as cashin hand and current accounts with banks, including the compulsoryminimum reserve with the Bank of Slovenia. Cash equivalents areshort-term, highly liquid investments that are readily convertible toknown amounts of cash and which are subject to an insignificant riskof changes in value. It comprises financial assets held for trading,available for sale and held to maturity financial assets.Employee benefitsThe Bank provides its employees with jubilee awards and severancepayments. The employees are entitled to claim jubilee awards incircumstances where they have been employed by the Bank fora defined period of time. The employees are entitled to receiveseverance payments if they are employed by the Bank until theirretirement age and were employed by the Bank for a minimumdefined period.Valuations of these obligations are carried out by independentqualified actuaries using projected unit credit method. The actuarialparameter and assumptions included in the calculation of theobligation are:•••••••••discount rate determined by reference to market yields as of thebalance sheet date on high quality corporate bonds for the Eurozone;estimated future salary increases;anticipated increase of jubilee awards;mortality rates - Slovenian mortality table 2000 - 2002;fluctuation (termination without payment) depending on Bank’spast experience in service time;retirement age: 58 for women, 60 for men;Bank’s most recent employee data (the length of employment withthe Bank, age, gender, average salary);average monthly salary in the Republic of Slovenia;if, on the valuation date, the calculated retirement age has alreadybeen reached or exceeded, the retirement has been assumed totake place 6 months after the valuation date.These obligations are measured at the present value of futurecash outflows. The gains and losses are recognised in the incomestatement.Actuarial gains and losses, arising from experience adjustmentsand from changes in actuarial assumptions, in excess of the greaterof ten percent of the value of plan assets or ten percent of thedefined benefit obligation, are charged or credited to income overthe expected average remaining working life-time of the relatedemployees.The Bank recognized in 2007, for the first time, the cost ofcompensated absences for unused holidays.UniCredit Bank · 2007 Annual Report 159


Accounting ReportSummary of Accounting PoliciesThe Bank additionally provides short-term benefits to its employeessuch as contributions to retirement pension insurance andrecognises the costs of these contributions as incurred.Shareholders’ equityShareholders’ equity is composed of paid-in capital, i.e., capitalmade available to the company by the shareholders (basic equitycapital plus share premium), and retained earnings (fair value reservefor available-for-sale securities and cash flow hedges, reserves fromprofit, retained earnings and income from the current financial year.)Earnings per shareThe Bank presents earnings per share data for its ordinary (all)shares. Earning per share is calculated by dividing the Bank’s profitor loss by the average number of shares outstanding during theperiod.The Bank has no preference shares or convertible bonds therefore nodiluted earning per share is calculated.Financial commitments and contingenciesOff balance sheet commitments from guarantees, both financial andservice, represent irrevocable obligations that the Bank will makepayments in the event a customer cannot fulfill its obligations vis-àvisthird parties.A documentary letter of credit is an irrevocable undertaking of theissuing Bank acting at the request of a customer (buyer) to makepayment to the beneficiary (seller) or to pay or accept bills ofexchange drawn by the beneficiary against stipulated documents,provided all terms and conditions of the letter of credit are compliedwith. The documentary letters of credit are collateralised dependingon the creditworthiness of the customer and on the same basis asguarantees or loans.The primary purpose of unused credit facilities (loan commitments)is to ensure that funds are available to a customer as required.Commitments to grant loans issued by the Bank represent issuedloan commitments and the unused part of approved overdraft loans.The risk associated with off balance sheet financial commitmentsand contingent liabilities is assessed similarly as for loans tocustomers taking into account the financial position and activitiesof the entity to which the Bank issued the guarantee and taking intoaccount the collateral obtained.Interest Income and ExpenseInterest income and expense are recognised in the income statementusing the effective interest method. As long as the Bank did notapply program solution for recognizing fees for corporate loans usingeffective interest method, those fees are accrued linearly.When loans become impaired, they are written down to theirrecoverable amounts and interest income thereafter recognisedbased on the rate of interest that was used to discount the futurecash flows for the purpose of measuring the recoverable amount.Impairment losses on loans and receivablesThe Bank assesses at each reporting date whether there is anyindication that an asset may be impaired. If any such indicationexists, the Bank estimates the recoverable amount of the asset. Whenasset’s carrying amount exceeds its recoverable amount impairmentloss is recognised. Recoverable amount is present value of expectedcash flows, including amounts recoverable from guarantees andcollateral, discounted at the original effective interest rate of loanscomputed at initial recognition.Fee and Commission Income and ExpenseFees and commissions are in principle recognised on completion ofthe underlying.Derivative transaction fees are recognised based on the conditions ofthe underlying contracts.TaxationTaxes are calculated in accordance with the Corporate Income TaxRegulations. Generally, the taxable profit is based on the profitor loss recognised in the income statement prepared pursuant tothe IFRS. It is adjusted for tax purposes as follows from the taxregulations.Tax expense (tax income) comprises current tax expense (current taxincome) and deferred tax expense (deferred tax income).The tax rate of current corporate income tax is 23 % (in 2006,25 %), for deferred taxes 22 % (in 2006, 23 %) was used, which isthe corporate income tax in 2008.Deferred taxes are provided for temporary differences arising betweenthe tax bases of assets and liabilities and their carrying amount inthe balance sheet (Note 10 and 15).Deferred tax liabilities are the amounts of income taxes payable infuture periods in respect of taxable temporary differences.Deferred tax assets are the amounts of income taxes recoverable in160 2007 Annual Report · UniCredit Bank


future periods in respect of deductible temporary differences, thecarryforward of unused tax losses and the carryforward of unused taxcredits.The Bank is subject to various indirect operating taxes. These areincluded as a component of administrative expenses.Fiduciary activitiesAssets managed by the Bank in its capacity as a nominee, trustee oragent are not assets of the Bank and are accordingly not included inthese financial statements.Segment reportingThe Bank did not decide to disclose segment information as itsequity is not publicly traded and it is not in the process of issuingequity or debt securities in public securities markets. Additionally,the Bank’s segment information is part of consolidated financialstatements of Bank Austria Creditanstalt AG Vienna.Regulatory requirementsThe Bank is subject to the regulatory requirements of the Bank ofSlovenia. These regulations include limits and other restrictionspertaining to minimum capital adequacy requirements, theclassification of loans and off balance sheet commitments andprovisioning to cover credit risk, liquidity, interest rate and foreigncurrency position. As of 31 December 2007, the Bank was incompliance with all regulatory requirements.Related partiesRelated parties are those counter parties that represent: enterprisesthat directly, or indirectly through one or more intermediaries,control, or are controlled by, or are under common control by, thereporting enterprise; key management personnel, that is, thosepersons having the authority and responsibility for planning, directingand controlling the activities of the Group, including directors andofficers of the Bank and close members of the families of suchindividuals; and enterprises in which a substantial interest in thevoting power is owned directly or indirectly by any person describedabove or over which such a person is able to exercise a significantinfluence. This includes enterprises owned by directors or majorshareholders of the Bank and enterprises that have a member of keymanagement in common with the Bank.In considering each possible related-party relationship, attention isdirected to the substance of the relationship and not merely the legalform.UniCredit Bank · 2007 Annual Report 161


Accounting ReportNotes on the Financial StatementsNotes on the Balance SheetNote 1:Cash and cash balances with central banksEUR 1,000 31. 12. 2007 31. 12. 2006Cash on hand 9,224 6,512Cash and balanceswith the central bankObligatory reservewith the central bankOther balances with the centralbank18,529 12,03518,529 5,776- 6,259Total 27,753 18,547The ECB requires credit institutions established in the euro-zone tohold deposits in accounts with their national central bank. These arecalled ‘minimum’ or ‘required’ reserves. The reserve coefficient is2 % for overnight deposits, deposits with an agreed maturity orperiod of notice up to two years, debt securities issued with amaturity of up to two years and money market paper. Liabilities visà-visother credit institutions, subject to the euro system’s minimumreserve requirements, the ECB and euro-zone national central banksare excluded from the reserve base.The lump-sum allowance is 100,000 euros. The minimum calculatedamount of the obligatory reserve as per 31 October 2007, amountedto euros 12,313 thousand. The Bank has to fulfill the requirements inthe period from 12 December 2007 until 15 January 2008.Note 2:Financial assets held for tradingEUR 1,000 31. 12. 2007 31. 12. 2006Debt instruments 135,007 93,290Treasury bills, Republic of Slovenia - 3,656Bonds, Republic of Slovenia 100,717 74,665Bonds, banks 30,069 14,969Bonds, corporates 4,221 -Positive market value of derivatives 54,256 24,129Forwards 1,532 230Options 27,602 7,223Swaps 25,122 16,677Total 189,263 117,419Financial instruments held for trading are shown at their fair value.Using the settlement date accounting in financial year 2007, theamount of financial assets held for trading on 31 December 2007,would be higher in the amount of 1,957 thousand euros. Otherassets presented in note 11 would be lower for the same amount.Bonds are mark-to-market based on prices derived in the internalmodel. Foreign currency forwards are mark-to market based onWall Street. For the calculation of the net present value of interestrate derivatives, the valuation system OPUS is used and for thecalculation of the fair value of foreign currency options, Wall Street isused. For equity options and commodity derivatives, the fair value isbased on the valuation provided by HVB Munich.162 2007 Annual Report · UniCredit Bank


Debt instrumentsEUR 1,000 31. 12. 2007 31. 12. 2006Listed 130,786 93,290Treasury bills, Republic of Slovenia - 3,656Bonds, Republic of Slovenia 100,717 74,665Bonds, banks 30,069 14,969Unlisted 4,221 -Bonds, corporates 4,221 -Total 135,007 93,290EUR 1,000 2007 2006Balance at 1. 1. 93,290 60,645Increases 240,421 317,837Purchase 240,125 317,394Positive changes in fair value 296 443Decreases (198,704) (285,192)Sales/redemptions (195,900) (284,409)Negative changes in fair value (2,804) (783)Balance at 31. 12. 135,007 93,290Note 3:Financial assets designated at fair valuethrough profit or lossEUR 1,000 31. 12. 2007 31. 12. 2006Loans 20,444 30,359Total 20,444 30,359EUR 1,000 2007 2006Balance at 1. 1. 30,359 28,963Increases 1,178 4,182New loans 1,137 4,182Positive changes in fair value 41 -Decreases (11,093) (2,786)Sales/redemptions (11,055) (2,077)Negative changes in fair value - (660)Exchange rate differences (38) (49)Balance at 31. 12. 20,444 30,359The loans and advances to customers have been matched withinterest rate swaps as part of a documented interest rate riskmanagement strategy. An accounting mismatch would arise if theloans and advances were accounted for at amortized cost, becausethe related derivatives are measured at fair value, with movementsin the fair value taken through the income statement. By designatingthose loans and advances at fair value, the movement in thefair value of the long-term debt will be recorded in the incomestatement.Note 4:Available-for-sale financial assetsEUR 1,000 31. 12. 2007 31. 12. 2006Equtiy investments 350 400Bonds, Republic of Slovenia 62,529 103,962Bonds, banks 32,890 39,082Bonds, corporates 19,608 14,415Total 115,377 157,859UniCredit Bank · 2007 Annual Report 163


Accounting ReportNotes on the Financial StatementsEUR 1,000 31. 12. 2007 31. 12. 2006Listed 95,419 143,044Bonds, Republic of Slovenia 62,529 103,962Bonds, banks 32,890 39,082Unlisted 19,958 14,815Equity investmnets 350 400Bonds, corporates 19,608 14,415Total 115,377 157,859Equity investmentsEUR 1,000 2007 2006Balance at 1. 1. 400 629Increases 1 401Purchase - -Positive changes in fair value andforeign exchange differences1 401Decreases (51) (630)Sales (9) (544)Negative changes in fair value andforeign exchange differences(42) (86)Balance at 31. 12. 350 400Debt securitiesEUR 1,000 2007 2006Balance at 1. 1. 157,458 95,332Increases 11,719 79,272Purchase 11,690 53,888Positive changes in fair value 29 25,250Foreign exchange differences - 134Decreases (54,150) (17,145)Sales/redemption (53,306) (14,474)Negative changes in fair value (844) (2,672)Balance at 31. 12. 115,027 157,458Note 5:Derivatives - Hedging instruments, Assetsand LiabilitiesAssetsEUR 1,000 31. 12. 2007 31. 12. 2006Cash flow hedge 1,818 863Total 1,818 863EUR 1,000 2007 2006Balance at 1. 1. 863 -Increases 3,453 863Interest 2,034 602Positive changes in fair value 1,419 261Decreases (2,499) -Interest (2,499) -Balance at 31. 12. 1,818 863LiabilitiesEUR 1,000 31. 12. 2007 31. 12. 2006Cash flow hedge 91 667Total 91 667EUR 1,000 2007 2006Balance at 1. 1. 667 -Increases 113 667Interest 31 660Positive changes in fair value 82 7Decreases (689) -Interest (689) -Balance at 31. 12. 91 667Equity securities available for sale are shown at their purchase valueor are impaired, when their market value is lower.Available-for-sale debt securities have fixed-rate coupons.164 2007 Annual Report · UniCredit Bank


Derivatives - Hedging instruments, netEUR 1,000 31. 12. 2007 31. 12. 2006Cash flow hedge 1,727 196Total 1,727 196Derivatives - concluded as hedging instruments represent cash flowhedge - macro hedging of the selected portfolio. The effectiveness ofthe cash-flow-hedge is described in “Risk report”.Note 6:Loans and receivablesLoans and receivables to banksEUR 1,000 31. 12. 2007 31. 12. 2006On demand 8,394 211,463Short-term loans 83,991 29,057Long-term loans 55,778 138,261Total 148,163 378,781EUR 1,000 2007 2006Balance at 1. 1. 378,781 331,010Increases 37,290,945 54,038,854New loans 37,284,265 54,029,916Positive changes in fair value andforeign exchange differences6,680 8,938Decreases (37,521,563) (53,991,083)Repayments (37,512,039) (53,980,079)Negative changes in fair value andforeign exchange differences(9,524) (11,004)Balance at 31. 12. 148,163 378,781UniCredit Bank · 2007 Annual Report 165


Accounting ReportNotes on the Financial StatementsLoans and receivables to customersEUR 1,000 31. 12. 2007 31. 12. 2006Gross value Impairment loss Net value Gross value Impairment loss Net valueShort-term 279,058 (3,668) 275,391 263,791 (2,504) 261,287Corporates 241,714 (3,396) 238,318 217,958 (2,359) 215,600Financial institutions 19,838 (1) 19,837 22,729 - 22,729Public sector 150 - 150 1,948 - 1,948Private custormers 12,465 (271) 12,194 11,163 (146) 11,018Non residents 4,892 - 4,892 9,993 - 9,993Long-term 1,332,347 (12,513) 1,319,834 1,014,973 (9,639) 1,005,334Corporates 755,145 (7,724) 747,421 611,349 (5,793) 605,556Financial institutions 64,187 - 64,187 29,246 (2) 29,244Public sector 22,654 - 22,654 29,093 - 29,093Private custormers 427,611 (4,602) 423,009 310,411 (3,844) 306,566Non residents 62,750 (187) 62,563 34,874 - 34,874Total 1,611,406 (16,181) 1,595,225 1,278,764 (12,144) 1,266,621EUR 1,000 2007 2006Balance at 1. 1. 1,266,621 1,006,969Increases 2,426,916 1,695,653New loans 2,342,463 1,663,915Positive changes in fair value andforeign exchange differences84,453 31,738Decreases (2,098,312) (1,436,001)Repayment (2,000,770) (1,397,956)Impairment (4,037) 861Write offs (160) (88)Negative changes in fair value andforeign exchange differences(93,345) (38,818)Balance at 31. 12. 1,595,225 1,266,621Loans to corporate include loans to sole traders.The balance of the loans to the employees on 31 December2007amounts to 12,343 thousand euros and 11,157 thousand eurosfor 31 December 2006. The amount excludes the loans to themanagement, which are disclosed in “Related Parties”.Note 7:Held-to-maturity financial assetsEUR 1,000 31. 12. 2007 31. 12. 2006Bank of Slovenia Treasury bills - 188,414Total - 188,414Impairment losses for loans to customersEUR 1,000 2007 2006Balance at 1. 1. 12,144 13,177Reconcilliation of excluded incomefor interests- (927)Increase 10,734 16,653Decrease (6,697) (16,759)Decrease of impairment losses (6,697) (12,310)Use of impairment losses - (4,449)Balance at 31. 12.. 16,181 12,144EUR 1,000 2007 2006Balance at 1. 1. 188,414 318,572Increases 682 1,372,540Purchase 682 1,372,410Foreign exchange differences - 130Decreases (189,096) (1,502,698)Sale/redemption (189,096) (1,502,698)Balance at 31. 12. - 188,414166 2007 Annual Report · UniCredit Bank


Note 8:Property, plant and equipment2007 EUR 1,000CostLeaseholdimprovementsComputerhardware Other equipment Work in progress TotalBalance at 1. 1. 5,333 4,626 3,571 66 13,596Additions 298 - - 1,008 1,306Transfer from work in progress - 997 792 (1,790) -Disposals (3) (1,311) (490) - (1,805)Balance at 31. 12. 5,628 4,312 3,873 (716) 13,098DepreciationBalance at 1. 1. 2,056 3,182 1,554 - 6,791Additions - - - - -Depreciation (577) (582) (456) - (1,615)Disposals 3 1,307 440 - 1,750Balance at 31. 12. 2,630 2,456 1,569 - 6,656Net book valueBalance at 1. 1. 3,278 1,444 2,018 66 6,805Balance at 31. 12. 2,998 1,856 2,304 (716) 6,4422006 EUR 1,000CostLeaseholdimprovementsComputerhardware Other equipment Work in progress TotalBalance at 1. 1. 4,885 4,202 3,111 39 12,237Additions 448 - - 1,817 2,265Transfer from work in progress - 997 792 (1,790) -Disposals - (573) (332) - (905)Balance at 31. 12. 5,333 4,626 3,571 66 13,597DepreciationBalance at 1. 1. 1,516 3,012 1,524 - 6,052Additions - - - - -Depreciation (540) (737) (314) - (1,591)Disposals - 568 283 - 851Balance at 31. 12. 2,056 3,182 1,554 - 6,792Net book valueBalance at 1. 1. 3,370 1,189 1,587 39 6,185Balance at 31. 12. 3,278 1,444 2,017 66 6,805The Bank has increased the limit for the direct recognition of small items in the profit or loss statement from 100 euros to 400 euros. Assetsup to that amount previously recognized in the balance sheet, were written-off as depreciation. As a result, depreciation was higher by31 thousand euros.Due to the change of the useful life for cars and save-deposit-boxes is the amount for property, plant and equipment lower by 59 thousandeuros. Depreciation is higher for the same amount.UniCredit Bank · 2007 Annual Report 167


Accounting ReportNotes on the Financial StatementsNote 9:Intangible assetsCostEUR 1,000 2007 2006Balance at 1. 1. 18,220 16,640Additions 1,877 2,300Transfer from work in progress - (311)Disposals - (410)Balance at 31. 12. 20,096 18,220DepreciationBalance at 1. 1. 11,497 10,579Depriciation 1,550 1,329Disposals - (410)Balance at 31. 12. 13,047 11,497Net book valueBalance at 1. 1. 6,722 6,061Balance at 31. 12. 7,049 6,722Intangible assets solely comprise computer software.Note 10:TaxesEUR 1,000 31. 12. 2007 31. 12. 2006Current tax assets 4,753 766Deferred tax assets 3,482 4,163Assets/liabilities held for trading 2,690 3,868Loans and receivables with banksand customers 167 146Available-for-sale financial assets 30 89Available-for-sale reserve 492 -Tangible and intangible assets 37 -Provisions for severance andjubileeum salaries 66 60Total 8,235 4,929On 31 December 2007, tax assets balancing equity amounts to492 thousand euros (31 December 2006, 0 euros). Tax liabilitiesbalancing equity, presented in note 14, on 31 December 2007amounts to 350 thousand euros (31 December 2006, 126 thousandeuros). Total effect, increasing the equity, amounts to 268 thousandeuros. Other changes in deferred tax assets and liabilities arebalancing income statement as expense and amounts to 1,013thousand euros.Deferred tax assetsEUR 1,000 2007 2006Balance at 1. 1. 4,163 377Increases 644 4,147Decreases (1,325) (361)Balance at 31. 12. 3,482 4,163168 2007 Annual Report · UniCredit Bank


Note 11:Other assetsEUR 1,000 31. 12. 2007 31. 12. 2006Claims to foreign banks 5,728 1Claims to customers 1,507 1,375Prepaid expenses and accrued income 4,505 1,656Assets, held for sale 1,920 2,030Other claims 731 5,871Fees and commisions 510 549Prepayments 60 15Provisions for fees and commisions (11) (14)Provisions for other assets (2,181) (1,573)Other assets 155 62Total 12,924 9,972Note 12:Financial liabilities held for tradingEUR 1,000 31. 12. 2007 31. 12. 2006Negative market value of derivatives 50,360 23,182Forwards 765 1,219Options 27,526 7,223Swaps 22,069 14,740Other financial liabilities held fortranding85 -Total 50,445 23,182Note 13:Financial liabilities measuredat amortised costsTime deposits from banksEUR 1,000 31. 12. 2007 31. 12. 2006On demand 4,255 16,951Short-term deposits 84,652 311,850Long-term deposits 859,192 800,511Total 948,099 1,129,312EUR 1,000 2007 2006Balance at 1. 1. 1,129,312 787,251Increases 5,201,599 29,648,566New deposits 5,171,675 29,644,408Revaluation and foreign exchangedifferences29,924 4,158Decreases (5,382,812) (29,306,505)Deposits returned (5,350,830) (29,301,775)Revaluation and foreign exchangedifferences(31,982) (4,730)Balance at 31. 12. 948,099 1,129,312Loans from banksEUR 1,000 31. 12. 2007 31. 12. 2006Short-term loans 17,539 6,748Long-term loans 217,073 269,679Total 234,612 276,427UniCredit Bank · 2007 Annual Report 169


Accounting ReportNotes on the Financial StatementsEUR 1,000 2007 2006Balance at 1. 1. 276,427 315,164Increases 1,306,796 1,945,344New deposits 1,262,015 1,921,395Revaluation and foreign exchangedifferences44,781 23,949Decreases (1,348,611) (1,984,081)Deposits returned (1,298,213) (1,954,516)Revaluation and foreign exchangedifferences (50,398) (29,565)Balance at 31. 12. 234,612 276,427Deposits and loans from banks have index-linked interests.Time deposits from customersEUR 1,000 31. 12. 2007 31. 12. 2006On demand 309,220 225,918Corporates 119,961 119,496Financial institutions 3,519 2,384Public sector 7,103 7,301Private customers 81,482 81,693Non-residents 97,155 15,044Short-term deposits 330,081 313,465Corporates 178,264 165,410Financial institutions 26,244 13,342Public sector 6,180 6,071Private customers 108,980 122,610Non-residents 10,413 6,032Long-term deposits 82,238 54,780Corporates 9,407 28,042Financial institutions 5,140 4,023Public sector 1,656 376Private customers 60,847 18,320Non-residents 5,188 4,018Total 721,539 594,162EUR 1,000 2007 2006Balance at 1. 1. 594,162 627,164Increases 31,878,354 21,848,288New deposits 31,863,124 21,837,407Revaluation and foreign exchangedifferences15,230 10,881Decreases (31,750,977) (21,881,290)Deposits returned (31,732,582) (21,868,152)Revaluation and foreign exchangedifferences(18,395) (13,138)Balance at 31. 12. 721,539 594,162Deposits from customers have both, index-linked and fixed interestrate.Included in customer accounts were deposits of 708 thousand euros(2006, 2,106 thousand euros) held as collateral for irrevocablecommitments under import letters of credit. The fair value of thosedeposits approximates the carrying amount.Note 14:ProvisionsEUR 1,000 31. 12. 2007 31. 12. 2006Pending legal cases 13 2Employee benefits 626 556Provisions for money laundering 14 -Provisions for off balance sheet items 418 871Total 1,071 1,4292007 EUR 1,000PendinglegalcasesEmployeebenefitsMoneylaunderingOffbalancesheetitemsTotalBalance at 1. 1. 2 556 - 871 1,429Increases 11 80 14 751 856Decreases - (10) - (1,204) (1,214)Use of provisions - (10) - - (10)Other decreasesduring the year - - - (1,204) (1,204)Balance at 31. 12. 13 626 14 418 1,071170 2007 Annual Report · UniCredit Bank


2006 EUR 1,000PendinglegalcasesEmployeebenefitsMoneylaunderingOffbalancesheetitemsTotalBalance at 1. 1. 108 478 - 305 891Increases - 103 - 1,273 1,376Decreases 106 25 - 707 838Use of provisions 105 - - - 105Other decreasesduring the year 1 25 - 707 733Balance at 31. 12. 2 556 - 871 1,429Provisions for employees’ benefits represent the actuarial accountsfor jubilee awards and severance payments. More details for actuarialassumptions are explained in ”Summary of accounting policies;Employee benefits”.Note 15:Tax liabilitiesEUR 1,000 31. 12. 2007 31. 12. 2006Current tax liabilities - 6,253Deferred tax liabilities 2,915 2,851Assets/liabiliteis held for trading 86 -Loans and receivables with banks andcustomers59 -Available-for-sale financial assets 124 -Available-for-sale reserve - 66Cash-flow-hedge 350 60Other assets/liabilities 2,296 2,725Total 2,915 9,104Note 16:Other liabilitiesLiabilities arising from settlementof a business relationshipEUR 1,000 31. 12. 2007 31. 12. 20062,503 1,482Prepayed expenses 2,444 1,381Liabilities to suppliers in the country 1,171 655Salaries and wages 922 841Liabilities arising from settlement ofoperations with private customers612 252Taxes and social contributions 266 339Liabilities to foreign suppliers 194 224Payments for establishing companiesin mixed onwnership- 159Fees and commissions 70 34Other liabilities 2,124 773Total 10,306 6,140Salaries and wages include the liabilities for equity-settled sharebased payment in amount of 39 thousand euros.Note 17:Share capitalEUR 1,000 31. 12. 2007 31. 12. 2006 %Ordinary shares - legal entities - - 0.00Ordinary shares - private customers 2 2 0.01Ordinary shares - foreign banks 16,256 16,268 99.99Total 16,258 16,270 100.00For 31 December 2007, the share capital amounts to 16,258,321euros, which represent 3,898,878 pieces of ordinary shares. Thedifference from the conversion of the nominal value of the share capitalin euros amounts to 11,408 euros and is reclassified to the sharepremium. All issued shares were fully paid ordinary shares. The holdersof ordinary shares are entitled to receive dividends when declared andare entitled to vote per share. All shares rank equally with regard to theBank’s residual assets. The Bank has paid out no dividends for the year2007 and 2006. Earning per share for 31 December 2007, amounts to3.89 euros (31 December 2006, 2.80 euros).UniCredit Bank · 2007 Annual Report 171


Accounting ReportNotes on the Financial StatementsReserves and retained earningsEUR 1,000 31. 12. 2007 31. 12. 2006Share premium 61,885 61,873Changes in fair value for effective part,cash flow hedgeChanges in fair value, available-for-salefinancial assets1,241 194(1,743) (2,262)Reserves from profit 78,384 52,357Statutary reserve 1,294 1,294Other banking reserve 77,090 51,063Retained earnings - 12,970Net profit for the year 7,591 5,466Total equity 147,358 130,598Accumulated profitEUR 1,000 31. 12. 2007 31. 12. 2006Profit/loss for the current year 15,181 10,932Accumulated profit/loss from theprevious yearsIncreases of reserves - decree ofManagement and Supervisory board- 12,9707,591 5,466Total 7,591 18,436For shareholders’ - -For other reserves 7,591 18,436For transfer to the next year - -Earning per shareEUR 1,000 2007 2006Net profit for the financial year 15,181 10,932Nominal value of the sharesNumber of sharesNumber of sharesEUR 417,29 - 13,000EUR 41,73 - 120,028EUR 4,17 3,898,878 1,398,598Nominal value of the sharesEarning per shareEarning per shareEUR 417,29 - 280.40EUR 41,73 - 28.04EUR 4,17 3.89 2.80Earning per share 2007: Net profit for the year (15.181 thousandeuros) / Number of shares (3.898.878) = 3,89 euros / shareEarning per share 2006: Net profit for the year (10.932 thousandeuros) / Number of shares (3.898.878) = 2,80 euros / shareRevaluation reserveEUR 1,000 2007 2006Balance at 1. 1. (2,068) 268Changes in fair value for effective part,cash flow hedge194 -Thereof deferred taxes (60) -Changes in fair value, available-for-salefinancial assets(2,262) 268Thereof deferred taxes (65) (89)Increases 1,998 1,998Changes in fair value for effective part,cash flow hedge1,047 254Thereof deferred taxes (290) -Changes in fair value, available-for-salefinancial assets951 149Thereof deferred taxes 406 47Decreases (432) (2,739)Changes in fair value for effective part,cash flow hedge- (60)Thereof deferred taxes - (60)Changes in fair value, available-for-salefinancial assets(432) (2,679)Thereof deferred taxes 152 (23)Balance at 31. 12. (502) (2,068)Changes in fair value for effective part,cash flow hedge1,241 194Thereof deferred taxes (350) (60)Changes in fair value, available-for-salefinancial assets(1,743) (2,262)Thereof deferred taxes 493 (65)172 2007 Annual Report · UniCredit Bank


Notes on the income statementNote 18:Net interest incomeInterest income and similar incomeEUR 1,000 2007 2006Cash and balances with central banks 493 128Financial assets held for trading 27,257 2,246Financial assets designated at fair valuethrough profit or loss1,174 1,038Derivatives - Hedging instruments 2,599 602Available-for-sale financial assets 4,935 5,574Loans and receivables (including financeleasing)77,721 58,554Banks 5,135 9,627Non-banks 72,586 48,927Held-to-maturity financial assets 682 8,729Other financial assets 253 899Total 115,114 77,770Interest expence and similar expenceEUR 1,000 2007 2006Financial liabiliteis held for trading 22,143 -Derivatives - Hedging instruments 2,530 712Financial liabilities measuredat amortised costs54,691 44,087Banks 39,892 33,143Non-banks 14,799 10,944Other liabilities (included finance leasing) - 69Total 79,364 44,868Net interest income 35,750 32,902Interest income on impaired financial assets in 2007 amounts to2,496 thousands euros. The amount represents the best estimationbased on the interest income for the clients of which loans on31 December 2007 were impaired.Due to the change in accounting policy in the year 2007, interestincome and expense from financial assets and liabilities held fortrading (financial derivatives) were presented in financial statementsfor 2006 within position “Gains and losses on financial assets andliabilities held for trading”. In the financial statements for 2007 theresult is presented as interest income or expenses. Interest incomefrom financial assets and liabilities held for trading for 2006 wouldbe according to the new accounting policy 6,496 thousands eurosand interest expenses for financial assets and liabilities 6,728thousands euros.Note 19:DividendsEUR 1,000 2007 2006Available for sale, equity securities 21 56Total 21 56Note20:Fee and commission net incomeFee and commission incomeEUR 1,000 2007 2006Security and custody business 4,475 2,957Loan and lending business 5,259 3,453Payments, currency and foreign exchangetrade6,788 6,569Financial derivatives 17,002 7,246Other 1,163 257Total 34,687 20,482UniCredit Bank · 2007 Annual Report 173


Accounting ReportNotes on the Financial StatementsFee and commission expensesEUR 1,000 2007 2006Security and custody business 867 385Loan and lending business 282 209Payments, currency and foreign exchangetrade1,269 1,285Financial derivatives 14,269 5,457Other 916 -Total 17,603 7,336Fee and commission net income 17,084 13,146Note 21:Gains and losses on financial assets andliabilities, not designated at fair valuethrough profit or lossEUR 1,000 2007 2006Gains 141 848Available-for-sale financial assets 101 582Loans and receivables (includingfinance leases)40 261Held-to-maturity financial assets - 5Losses (892) (162)Available-for-sale financial assets (699) (43)Loans and receivables (includingfinance leases)(160) (119)Other financial assets and liabilities (33) -Total (751) 686Note 22:Gains and losses on financial assets andliabilities held for tradingEUR 1,000 2007 2006Debt securities (2,440) (329)Foreign exchange trading 529 2,331Derivatives 6,212 1,197Other financial assets and liabilities (46) -Total 4,255 3,199Note 23:Gains and losses on financial assets andliabilities, designated at fair valuethrough profit or lossLoans, designated at fair value throughprofit or lossEUR 1,000 2007 200641 (595)Total 41 (595)Note 24:Exchange differencesEUR 1,000 2007 2006Positive 195,030 31,415Negative (195,567) (32,177)Total (537) (762)Within sub-position Loans and receivables (including finance leases)the Bank reports write-offs of loans carried at effective interestmethod and their recoveries.174 2007 Annual Report · UniCredit Bank


Note 25:Gains and losses on derecognitionof assets other than held for saleEUR 1,000 2007 2006Gains 2 1Losses (32) (23)Total (30) (22)Gains and losses on derecongition of assets represent the theincome and losses from derecognition of property, plant andequipment.Note 26:Other operating net incomeEUR 1,000 2007 2006Gains 379 111Income from sold property 177 20Received compensations 118 21Release of accruals 67 40Other profits 17 30Losses (186) (116)Memberships (101) (82)Payed compensations (50) (8)Social security contribution fordisabled(30) (21)Other losses (30) (5)Total 193 (5)Note 27:Administration costsStaff costsEUR 1,000 2007 2006Wages and salaries 10,602 9,558Social security costs 839 664Employers contribution - pensions andinsuranceOther contribution levied on grosssalaries1,030 817508 583Other staff costs 2,445 1,503Total 15,424 13,125Salaries and wages for 2007 include the costs for unused holidays inthe amount of 446 thousand euros and the costs for equity-settledshare-based-paymentsin the amount of 39 thousand euros.UniCredit Group established a medium/long-term share optionprogram, granting equity instruments issued by UniCredito ItalianoS.p.A. to selected managers and employees of the various Groupsubsidiaries. In compliance with IFRS, the subsidiaries, whoseemployees have been granted equity instruments issued by theParent company, must pay the latter for the allocation granted to theiremployees. UniCredit Banka Slovenija d.d. recognised the amountfor the equity settled share based payments first in 2007.Fair value calculation criteria for equity settled Stock Options: Thefair value has been measured by applying the “Hull and White”model. The model is based on trinomial tree price distribution usingthe Boyle’s algorithm and estimates the early exercise probability onthe basis of a deterministic model connected to reaching a MarketShare Value equals to an exercise price-multiple and probability ofbeneficiary’s early exit after the end of the Vesting Period.Vesting dates of the equity-share-based-payments in euros:Vesting Date Employees entitled Accrued amount atthe evaluation date18 November 2005 2 20,68613 June 2006 2 13,28412 June 2007 2 4,624UniCredit Bank · 2007 Annual Report 175


Accounting ReportNotes on the Financial StatementsOther administration costsEUR 1,000 2007 2006Material 794 613Rent 1,706 1,531IT services 2,236 4,249Communication 356 253Electronic banking and payment systems 561 395Auditing and supervision 242 214Consulting 1,361 1,258Office-related expenses 338 350Other services 947 917Rebranding costs 1,606 -Advertising, marketing and sponsorships 1,535 1,161Entertainment 124 45Other 1,613 1,413Total 13,419 12,399Costs for Auditing and Supervision include the audit of the AnnualReport: 98 thousand euros from KPMG Slovenija, podjetje zarevidiranje, d.o.o. which does not conduct other services for theBank. Other costs included in Auditing and Supervision are costsfor Deloitte revizija d.o.o in the amount of 22 thousand euros, forindependent opinion for the Bank’s Internal audit department andcosts for tax audit, conducted by Ernst & Young d.o.o., in the amountof 5 thousand euros.Note 28:DepreciationEUR 1,000 2007 2006Tangible assets 1,615 1,591Leasehold inprovements 577 540Computer hardware 582 737Other equipment 456 314Intangible assets 1,550 1,328Computer software 1,550 1,328Total 3,165 2,919Note 29:ProvisionsEUR 1,000 2007 2006Pending legal cases 11 (1)Provisions for employee benefits 80 79Provisions for off balance sheet items (453) 565Provisions for money laundering 14 -Total (348) 643The Bank rents a number of branch and office premises. The renttypically runs for a definite or indefinite period, with an option torenew the rent after that date or to cancel it, when both parties agree,if the cancellation period is not specifically stated in the contract.The minimum future obligations for rental payments are as follows:Less than 1 year: For the year 2007, the obligation amounts to 1,045thousand euros and 1,073 thousand euros for 2006. There are nofuture obligations for more than 1 year.176 2007 Annual Report · UniCredit Bank


Note 30:ImpairmentImpairment of available-for-salefinancial assetsImpairment of financial assets,measured at costEUR 1,000 2007 200612 864,642 4,679Increase 11,462 17,275Loans 9,728 14,782Interests 1,006 1,871Fees 12 38Other assets 716 584Decrease (6,820) (12,596)Loans (5,913) (11,642)Interests (784) (668)Fees (15) (24)Other assets (108) (262)Total 4,654 4,765EUR 1,000 2007 2006Profit before taxes 19,712 14,753Tax rate 23.00% 4,534 25.00% 3,688Taxes for non-deductibleexpensesTax decrease fordeductible income1.16% 229 28.21% 4,161(0.65%) (128) (0.61%) (90)Other adjustments (0.53%) (104) (26.69%) (3,938)Total 22.98% 4,531 25.90% 3,821Net exposure for available-for-sale financial assets is presented innote 4, net exposure for financial assets, measured at costs, in note6, and exposure for fees and other assets, in note 11.Note 31:Tax expense (income) relatedto profit or loss from continuing operationswith explanation of effective tax rateEUR 1,000 2007 2006Current taxes 3,518 8,951Deferred taxes 1,013 (5,130)Total 4,531 3,821UniCredit Bank · 2007 Annual Report 177


Accounting ReportNotes on the Financial StatementsNotes on the cash flow statementEUR 1,000 2007 2006Cash in hand (Note 1) 9,224 6,512Obligatory reserve with the Central Bank(Note 1)18,529 5,776Other balances with central banks (Note 1) - 6,259Loans to banks, up to 3 months (Note 5) 91,855 231,986Financial assets held for trading (Note 2) 100,718 76,055Available for sale financial assets (Note 4) 9,724 49,386Held-to-maturity financial assets (Note 6) - 187,782Total 230,050 563,756Obligatory reserve deposits are not available for use in the Bank’sday-to-day operations. Cash-in-hand is non-interest bearing.Obligatory reserves and other balances with the Central Bank bearfixed interest-rate, the interest rate is prescribed by the Bank ofSlovenia. Money market placements are both index-linked and fixedrateassets. Financial assets held for trading and financial assetsavailable-for-sale are debt securities from Republic of Slovenia.Held-to-maturity investments are 60-day bills from the Bank ofSlovenia. The represented amount for financial instruments includedin cash and cash equivalents for the year 2006 do not include theamount for interests.Notes on the off balance sheet itemsNote 32:Off balance sheet itemsCommitments, contingent liabilities and financial derivativesEUR 1,000 31. 12. 2007 31. 12. 2006Financial guarantees 88,868 106,763Non-financial guarantees 46,408 34,278Committed credit and overdraft lines 410,714 314,447Creditors on spot businesses 36,945 21,778Uncovered documentary letters of credit- nostroCovered documentary letters of credit- nostroConfirmatons on documetnary letters ofcredit - loro3,547 3,791745 2,753- 2,672Notional amount of financial derivatives 5,178,380 2,114,051Total 5,765,607 2,600,533Financial derivativesEUR 1,000 31. 12. 2007 31. 12. 2006Creditors for forwards 129,928 139,062Creditors for options 2,441,898 1,046,749Creditors for interest rate swaps 2,597,194 928,240Trading 2,427,631 853,510Cash flow hedge 169,563 74,730Creditors for commodity swap 9,360 -Total 5,178,380 2,114,051Total for trading 5,008,817 2,039,321Total for hedging 169,563 74,730178 2007 Annual Report · UniCredit Bank


GuaranteesEUR 1,000 2007 2006Balance at 1. 1. 141,041 153,590Increases 131,579 120,945New guarantees 131,579 119,849Exchange rate differences - 1,096Decreases (137,344) (133,494)Redemption (84) (548)Switched off guarantees (134,863) (132,946)Exchange rate differences (2,397) -Balance at 31. 12. 135,276 141,041Fiduciary activitiesFiduciary activities include businesses for syndicated loans, agencyservices and brokerage and custody businesses.Balance sheet for fiduciary businessesEUR 1,000 31. 12. 2007 31. 12. 2006Assets 118,123 43,173Cash on excluded account 15 15Receivables from loans 97,546 39,948Cash from clients for security business 16,524 472Receivables from brokerage business 109 -Receivables from custody business 3,928 2,738Liabilities 118,123 43,173Liabilities arising from operations onbehalf and for account of third parties97,562 39,964Liabilities from brokerage business 3,019 37Liabilites from custody business 17,542 3,172Statement of income for fiduciary businessIncome from businesses withpermissionEUR 1,000 2007 20064,475 2,957Brokerage business 3,005 1,990Other businesses with securities 1,470 967Consulting for investment business - 12Current accounts for unrealisedsecuritiesExpenses for businesses withpermissionAccount for settling obligationsto the Central SecuritiesClearing Corporation for securities1,470 954994 444256 74Stock exchange 430 201Legal entitiy for payment transactions 308 169Custody businessEUR 1,000 31. 12. 2007 31. 12. 2006Assets 20,561 3,210Short-term receivables 109 -Cash assets 20,452 3,210Cash in transaction account 748 16,524 472Cash in foreign currency accountfor excluded assets3,928 2,738Liabilities 20,561 3,210Short-term liabilities to customers 20,561 3,210To related parties 2 2To other customers 20,559 3,208UniCredit Bank · 2007 Annual Report 179


Accounting ReportNotes on the Financial StatementsSettlement businessEUR 1,000 31. 12. 2007 31. 12. 2006Assets 106 -To current account 748 106 -Liabilities 106 -To current account 627 11 -Net Short-term liabilities to the CentralSecurities Clearing CorporationRelated parties95 -The Bank is controlled by its parent company Bank AustriaCreditanstalt AG Vienna, incorporated in Austria, which owns99.99 % of the ordinary shares. The remaining shares are held bylegal entities and private customers. The ultimate parent of the Bankis UniCredito Italiano S.p.A.The Bank enters into a number of banking transactions with relatedparties in the normal course of business. These include loans,deposits, foreign currency, and derivatives transactions.The volumes of related-party transactions, outstanding balances atthe year-end, and relating expense and income for the year are asfollows:Balance sheetEUR 1,000 31. 12. 2007 31. 12. 2006Loans to banks and customers 68,903 205,557Management 186 200Parent company 68,154 205,016Other companies within UniCredit Group 563 340Receivables from fiancial derivativestransaction31,252 11,753Parent company 20,617 11,709Other companies within UniCredit Group 10,634 44Other receivables 33 251Management - -Parent company 28 147Other companies within UniCredit Group 4 104Assets total 100,187 217,561Deposits from banks and customers 1,097,465 1,304,945Management 222 160Parent company 1,096,410 1,295,692Other companies within UniCredit Group 833 9,092Payables on financial derivativestransactions22,835 6,996Parent company 9,585 6,991Other companies within UniCredit Group 13,250 5Other liabilities 120 79Parent company 11 11Other companies within UniCredit Group 110 69Liabilities total 1,120,420 1,312,020The loans to the management are in line with the Bank’s lendingpolicy to customers and are fully collateralized by a mortgage. Theloans and advances to banks in the Group are unsecured, carryvariable interest rates, and are repayable on demand or on time.180 2007 Annual Report · UniCredit Bank


Statement of incomeEUR 1,000 2007 2006Interest income 22,142 3,425Management 6 1Parent company 18,664 3,399Other companies within UniCredit Group 3,472 25Fee income 1,033 656Parent company 727 549Other companies within UniCredit Group 306 107Income total 23,175 4,081Interest expenses 58,837 31,235Management 8 5Parent company 55,623 31,228Other companies within UniCredit Group 3,206 2Fee expenses 45 2,471Parent company 28 2,469Other companies within UniCredit Group 17 2Administrative expenses 1,135 2,160Other companies within UniCredit Group 1,135 2,160Expenses total 60,017 35,866Post balance sheet eventsThe Bank asks for authorization to increase the capital in the amountof 20 million euros.Legal disputesAs of the balance sheet date, UniCredit Banka Slovenija d.d. was notinvolved in any material claims and legal proceedings.Statement of a material effect on thefinancial statementUniCredit Banka Slovenija d.d., as a member of UniCredit Group,enters in to several business transactions with related parties fromthe Group. Such transactions are done at normal market conditionsand have no negative impact on presented financial statements.Regarding the 545th paragraph of The Companies Act, we declarethat in 2007 and 2006, there were no harmful transaction or otheractions done, which would in any way harm the business ofthe Bank.Remuneration paidRemuneration paid to the ManagementBoard membersEUR 1,000 2007 2006383 376Salaries and other shor-term benefits 383 376Share-based-payments - -Remuneration paid to the SupervisoryBoard membersRemuneration to the other employees withan individual contract- -581 574Salaries and other shor-term benefits 581 574Total 964 950Number of the Management Boardmembers3 3Number of the Supervisory Board members 5 5Number of employees with individualcontract9 6The average number of employees with the individual contract in2007 was 7.UniCredit Bank · 2007 Annual Report 181


Risk ReportRisk ReportOverall Risk ManagementIn the field of risk management, UniCredit Banka Slovenija d.d.works closely with the risk control and risk management units ofBank Austria Creditanstalt AG, Vienna and of course also supportsUniCredit’s efforts to establish uniform group-wide risk managementand controlling procedures.UniCredit Banka Slovenija d.d. identifies, measures, monitors, andmanages the following categories of risk, which are in line with thegroup’s risk point of view:• market risk (foreign exchange, interest rate, and equity trading risk)• liquidity risk• credit risk• operational risk• business risk• real estate risk• risks arising from the Bank’s shareholdings and equity interestsThe Asset/Liability Committee (ALCO) is the overall riskmanagement committee of UniCredit Banka Slovenija d.d. ALCOdetermines the principles of risk management in the overall bankrisk policy and validates on a regular basis the Bank’s risk map. Itapproves the establishment of limits for all relevant risks and therisk control procedures. ALCO is responsible for the managementof balance-sheet structure positions, controls liquidity and interestrate risk, and deals with cross-divisional risk management issuesarising between sales units and the overall bank management.ALCO decides on operational risk issues and gets informed on thedevelopment of the credit portfolio as well as the economic capital.All risk management activities of UniCredit Banka Slovenija d.d. arecombined within two divisions, which are both independent from thebusiness units up to the Management Board level:• The Credit risk management division deals with the assessment ofthe client’s rating, is responsible for the valuation of collateral andthe treatment of problem loans in the work out process and is incharge of running the credit committees.• The Finance and market risk division on the other hand covers theareas of market risk and operational risk management as well asthe calculation of the economic capital. Finance and market riskis also in charge of the ICAAP process, which includes the capitalvalue based management.Both divisions were heavily involved in the Basel II implementation.UniCredit Banka Slovenija d.d. applies from 1 January 2008 the STAapproach for credit risk and started the preparations for IRB.Also for market and operational risk, the Bank applies thestandardized approach. However, for operational risk, the Bank is inpreparations for the advanced measurement approach (AMA) andintends to apply for model approval in 2008.UniCredit Banka Slovenija d.d. applies the principle of dualmanagement and control. In line with this principle, for pricingpurposes in customer business (micro control), both the minimumTier 1 capital required pursuant to the Basel I Act and economiccapital are expected to yield a specific return (to cover unexpectedlosses).Beyond compliance with the regulatory capital rules pursuant tothe Basel I Act, economic capital is intended to reflect the Bank’sspecific risk profile in a comprehensive and more consistent way.With the exception of liquidity risk, economic capital is calculatedusing uniform value-at-risk methods across all types of risk.A specific factor taken into account in the required risk capital isbusiness risk, which reflects the influence of external factors such asconsumer behavior or the competitive situation on the market valueof business divisions or subsidiaries.Unexpected losses over a period of one year are calculated with aconfidence level of 99.95 %.Market RiskUniCredit Banka Slovenija d.d. takes on exposures to market risks,which is the risk that the fair value or future cash flows of a financialinstrument will fluctuate because of changes in market prices.Market risks arise from open positions in interest rate, currency,credit spread and equity products. All of these are exposed togeneral and specific market movements and changes in the levelof volatility of market rates or prices such as interest rates, creditspreads, foreign exchange rates, and equity prices. UniCredit BankaSlovenija d.d. transfers all market risks, via a market-based fundtransfer pricing system, to the trading desk.Market risk management techniquesMarket risk management encompasses all activities in connectionwith UniCredit Banka Slovenija’s treasury operations andmanagement of the balance sheet structure. Risk positions are182 2007 Annual Report · UniCredit Bank


aggregated at least daily, analyzed by the independent market riskmanagement unit and compared with the risk limits set by the ALCOcommittee.At UniCredit Banka Slovenija d.d., market risk management includesongoing reporting on the risk position, limit utilization, and the dailypresentation of results of treasury operations.The ALCO sets the risk limits for the Bank’s market risk activitiesat least once a year in close cooperation with the respective unitsin Bank Austria Creditanstalt AG Vienna. The entire set of rules fortreasury operations and market risk management is laid down in theINM Rulebook and is divided into three parts (General Part, SpecificPart, and Unit Parts). Only authorized risk-takers are permitted toenter into risk positions.UniCredit Banka Slovenija d.d. uses for its market risk managementthe ‘NORISK’ risk model which was developed by the Strategic RiskManagement unit of Bank Austria Creditanstalt AG Vienna and hasbeen used for several years by UniCredit Banka Slovenija.In 2004, the variance/covariance approach of the system wasextended to include a simulation approach. Ongoing refinement workwhich is done by the abovementioned Strategic Risk Managementunit in Vienna includes reviewing the model as part of back-testingprocedures, integrating new products, and adjusting the system togeneral market developments. In this context, in UniCredit BankaSlovenija d.d., a product introduction process has been establishedin which the risk management unit plays a decisive role in approvingnew products together with the sales units.Based on aggregated data, the ‘NORISK’ risk management systemprovides the major risk parameters for treasury operations once aday. Besides Value at Risk (VaR for internal risk measurement on thebasis of a one-day holding period and a confidence interval of99 %), the present value of the basis point (PVBP) is calculated.Basis point limits per currency and maturity band, basis point sumsper currency and/or per maturity segment (total of absolute basispoint values) are used for risk management.Other factors of equal importance are stress-oriented volumeand position limits. Additional elements of the limit system areloss-warning level limits. Monitoring income trends by means ofstop-loss limits provide an early indication of any accumulation ofposition losses.Such stress scenarios are based on assumptions of extrememovements in individual market risk parameters. UniCredit BankaSlovenija d.d. analyses the effect of these fluctuations and a liquiditydisruption in specific products and risk factors on the Bank’s resultsand net asset position. These assumptions of extreme movementsare dependent on currency and liquidity and are set by the Bank inclose cooperation with the Strategic Risk Management unit in BankAustria Creditanstalt AG Vienna on a discretionary basis. The resultsof these stress tests are taken into account in establishing limits.In addition to the risk model results, income data from market riskactivities are also determined and communicated on a daily basis.These data are presented over time and compared with currentbudget figures. Reporting covers the components reflected inIFRS-based net income and the marking to market of all investmentpositions regardless of their recognition in the IFRS-based financialstatements (‘total return’).UniCredit Banka Slovenija d.d. implemented in 2006 the‘MARCONIS’ system, which was developed by Bank AustriaCreditanstalt AG Vienna. ‘MARCONIS’ reviews completely andsystematically the market conformity of each treasury transaction.Interest rate risk and liquidity risk from customer transactions isattributed to Bank’s Treasury operations through a matched fundstransfer pricing system applied throughout the Group. This makesit possible to attribute market and liquidity risk and contributionmargins to the Bank’s business divisions in line with the principle ofcausation. ALCO ensures that the Bank’s overall maturity structureis optimized, with the results from maturity transformation beingreflected in the International markets division. Factors taken intoaccount in this context include the costs of compensation forassuming interest rate risk, liquidity costs, and country risk costsassociated with foreign currency financing.Interest rate, foreign exchange and spread riskThe results of the internal model based on VaR (one day, confidenceinterval of 99 %) for 2007 are higher than the previous year’s results.The main reason for this is that the Bank also measures, since July2007, the spread risk in the VaR calculation. The below presentedVaR table includes the interest, FX and spread positions of the Bank.Regular stress scenario calculations complement the informationprovided to ALCO and the Management Board.UniCredit Bank · 2007 Annual Report 183


Risk ReportRisk ReportUniCredit Banka Slovenija d.d. did not hold any equity positions in 2007 and 2006 respectively.VaR of UniCredit Banka Slovenija d.d., 2006-2007Value at Risk 2006 Value at Risk 2007EUR 1,000 Minimum Maximum Average Minimum Maximum AverageSlovenia 47.26 775.00 239.91 19.09 1,016.64 405.55The Bank positions itself mainly in EUR, USD and CHF, with all other currencies, open positions are significantly loweInterest rate basis point shift for 2007Currency Up to 1 month 1 monthto 3 months31. 12. 2007 Annual max, min, average3 monthsto 1 year1 yearto 5 yearsOver 5 years Total AnnualmaximumAnnualminimumAbsoluteaverageCHF 17 575 13 (18) - 586 2,834 (2,044) 810EUR (1,157) (10,173) 6,458 (8,574) 14,040 594 44,947 (29,038) 17,283USD 111 22 302 1,735 - 2,170 2,209 807 1,425Total 1,305 10,812 6,773 10,327 14,040 3,412 46,004 1,325 19,545Interest rate basis point shift for 2006Currency Up to 1 month 1 monthto 3 months29. 12. 2006 Annual max, min, average3 monthsto 1 year1 yearto 5 yearsOver 5 years Total AnnualmaximumAnnualminimumAbsoluteaverageCHF (56) (96) (365) (17) (15) (549) 2,130 (7,861) 838EUR 671 671 (7,183) 22,520 32,163 48,842 57,670 (8,380) 17,401SIT (550) (1,270) (2,333) (28,721) (42,180) (75,054) (18,569) (81,809) 49,756USD (38) 163 403 (1,156) 1,926 1,298 1,334 (505) 547Total 1,315 2,201 10,286 52,414 76,284 125,742 140,481 20,792 68,545Spread basis point valueMaturity Up to 6 months 6 monthsto 2 years29. 12. 2006 Annual max, min, average2 yearsto 7 yearsOver 7 years Total AnnualmaximumAnnualminimumAbsoluteaverageTotal (688) (9,954) (64,037) (52,561) 127,239 131,347 126,043 129,521184 2007 Annual Report · UniCredit Bank


Basel II establishes for the first time a relation between ‘interest raterisk in the banking book’ and the Bank’s capital by comparing achange in the market value of the banking book after a 2 % interestrate shock with the Bank’s net capital resources. In the event thatsuch an interest rate shock absorbs more than 20 % of a Bank’s netcapital resources, the bank supervisory authority could require theBank to take measures to reduce risk.A 2 % interest rate shock at year end would absorb about 3.9 % ofthe Bank’s net capital resources; this calculation also includes thecurrent investment of equity capital as an open risk position. Thismeans that the figure for UniCredit Banka Slovenija d.d. is far belowthe outlier level of 20 %.Besides VaR, FX positioning also is monitored by each currency onan aggregated position level.Larger positions were held only in the major currencies.Open FX position during 2007:EUR 1,000Currency max. short max. longAUD (587) 630BAM (70) 69BGN (41) 30CAD (696) 114CHF (4,969) 1,527CZK (127) 29DKK (21) 94GBP (2,672) 2,423HKD (150) 35HRK (297) 201HUF (93) 569JPY (3,687) 4,077NOK (43) 41PLN (123) 195RSD (94) 132SEK (275) 59SKK (19) 30USD (5,067) 19,625UniCredit Bank · 2007 Annual Report 185


Risk ReportRisk ReportBalance sheet positions in different currencies per 31. 12. 2007:PositionContentCHF EUR JPY USD GBP OtherCurrencyA. 1. Cash and cash balances with central banks 217 26,648 3 644 50 190 27,753A. 2. Financial assets held for trading 45 188,212 - 1,006 - - 189,263A. 3. Financial assets designated at fair value through profit or loss 1,150 19,294 - - - - 20,444A. 4. Available-for-sale financial assets - 115,377 - - - - 115,377A. 5. Derivatives - hedge accounting - 1,818 - - - - 1,818A. 6. Loans and receivables 453,802 1,277,471 19 10,940 219 937 1,743,389A. 7. Intangible assets - 7,049 - - - - 7,049A. 8. Tangible assets - 6,442 - - - - 6,442A. 9. Tax assets - 8,235 - - - - 8,235A. 10. Other assets 3 12,860 - 61 - - 12,924Total assets 455,217 1,663,406 22 12,650 269 1,128 2,132,693TotalP. 1. Financial liabilities held for trading (1) 49,718 - 728 - - 50,445P. 2. Derivatives - hedge accounting - 91 - - - - 91P. 3. Financial liabilities measured at amortised cost 430,368 1,449,573 6,972 15,847 883 607 1,904,250P. 4. Provisions - 1,071 - - - - 1,071P. 5. Tax liabilites - 2,915 - - - - 2,915P. 6. Other liabilites 416 7,758 - 1,930 40 160 10,306P. 7. Share capital - 16,258 - - - - 16,258P. 8. Share premium account - 61,885 - - - - 61,885P. 9. Revaluations reserves - (502) - - - - (502)P. 10. Retained earnings - 78,384 - - - - 78,383P. 11. Net profit for the year - 7,591 - - - - 7,591Total liabilites and equity 430,783 1,674,742 6,972 18,505 923 767 2,132,693B. Off balance sheet items (B.1 - B.4) 791,800 4,807,552 3,500 111,846 2,952 47,956 5,765,607186 2007 Annual Report · UniCredit Bank


Balance sheet positions in different currencies per 31. 12. 2006::PositionContentCHF EUR JPY USD GBP SIT OthercurrencyA. 1. Cash and cash balances with central banks 125 2,153 3 247 54 15,902 63 18,547A. 2. Financial assets held for trading 1 6,364 - 417 - 110,637 - 117,419A. 3. Financial assets designated at fair value through profit or loss 1,359 29,000 - - - - - 30,359A. 4. Available-for-sale financial assets - 14,435 - - - 143,424 - 157,859A. 5. Derivatives - hedge accounting - 602 - - - 261 - 863A. 6. Loans and receivables 273,428 1,138,953 2 11,402 810 220,007 800 1,645,402A. 7. Held-to-maturity financial assets - - - - - 188,414 - 188,414A. 8. Tangible assets - - - - - 6,805 - 6,805A. 9. Intangible assets - - - - - 6,722 - 6,722A. 10. Tax assets - - - - - 4,929 - 4,929A. 11. Other assets 20 5,720 - 314 1 3,918 - 9,972Total assets 274,932 1,197,226 5 12,379 866 701,020 863 2,187,291TotalP. 1. Financial liabilities held for trading 1 6,431 - 203 - 16,548 - 23,182P. 2. Derivatives - hedge accounting - 660 - - - 7 - 667P. 3. Financial liabilities measured at amortised cost 228,269 1,500,106 3 24,788 989 245,275 471 1,999,901P. 4. Provisions 369 244 - - - 817 - 1,429P. 5. Tax liabilites - - - - - 9,104 - 9,104P. 6. Other liabilites 195 2,622 1 17 50 3,173 81 6,139P. 7. Share capital - - - - - 16,270 - 16,270P. 8. Share premium account - - - - - 61,874 - 61,874P. 9. Revaluations reserves - - - - - (2,068) - (2,068)P. 10. Retained earnings - - - - - 65,327 - 65,327P. 11. Net profit for the year 5,466 5,466Total liabilites and equity 228,833 1,510,062 4 25,008 1,039 421,792 552 2,187,291Off balance sheet items (B.1 - B.4) 36,455 2,255,534 - 195,715 3,714 51,443 57,672 2,600,533UniCredit Bank · 2007 Annual Report 187


Risk ReportRisk ReportLiquidity RiskLiquidity risk is the risk that the Bank is unable to meet its paymentobligations associated with its financial liabilities when they fall dueand to replace funds when they are withdrawn. The consequencemay be the failure to meet obligations to repay depositors and fulfillcommitments to lend.UniCredit Banka Slovenija d.d. deals with liquidity risk as a centralrisk in banking business by introducing and monitoring short-termand medium-term liquidity limits. In this context, the liquiditysituation for the next few days and also for longer periods is analyzedagainst a standard scenario and against scenarios of a general anda bank-specific liquidity crisis. The degree of liquidity of customerpositions and proprietary positions is analyzed on an ongoing basis.Procedures, responsibilities, and reporting lines in this area havebeen laid down in the liquidity policy and include a contingency planin the event of a liquidity crisis.Besides the primary resources available to the Bank, UniCredit BankaSlovenija d.d. funds itself at the liquidity centre in Bank AustriaCreditanstalt AG, Vienna at the liquidity costs of UniCredit Group.Current management of the Bank’s customer business takes accountof liquidity costs. The applicable alternative costs are debited or,on the basis of an opportunity approach, credited to the variousproducts on the assets side and the liabilities side which have aneffect on liquidity. In the current controlling process, this ensures theproper pricing of our business.188 2007 Annual Report · UniCredit Bank


Balance sheet, due to maturity on 31. 12. 2007Position Content Total On demand Up to 1 month 1 - 3months3 - 12monthsEUR 1,000A. 1. Cash and cash balances with central banks 27,753 27,753 - - - - -A. 2. Financial assets held for trading 189,263 - 135,739 1,317 5,001 35,516 11,689A. 3. Financial assets designated at fair value through profitor loss1 - 5yearsOver 5years20,444 - 1,039 26 3,833 15,181 366A. 4 . Available-for-sale financial assets 115,377 - 298 486 15,327 20,968 78,299A. 5. Derivatives - hedge accounting 1,818 - - - 300 834 684A. 6 . Loans and receivables 1,743,388 9,403 146,304 62,979 373,967 649,454 501,282- to banks 148,164 8,416 80,509 6,650 17,554 32,089 2,946- to customers 1,595,225 987 65,795 56,329 356,412 617,365 498,336A. 7 . Held-to-maturity financial assets - - - - - - -A. 8 . Tangible assets 6,442 - - - - - 6,442A. 9 . Intangible assets 7,049 - - - - - 7,049A. 10. Tax assets 8,234 - - - 4,753 3,482 -- current tax assets 4,753 - - - 4,753 - -- deferred tax assets 3,482 - - - - 3,482 -A. 11. Other assets 12,924 - 5,171 73 2,203 5,477 -Total assets (1) 2,132,693 37,155 288,551 64,880 405,384 730,913 605,810P. 1. Financial liabilities held for trading 50,445 - 735 530 4,293 36,621 8, 266P. 2. Derivatives - hedge accounting 91 - - - 2 83 6P. 3. Financial liabilities measured at amortised cost 1,904,250 314,602 362,442 226,414 240,346 638,574 121,872- time deposits to banks 948,099 4,255 77,490 165,975 153,391 525,836 21,152- time deposits to customers 721,539 310,347 270,975 57,776 76,998 2,981 2,461- loans to banks 234,612 - 13,977 2,663 9,956 109,756 98,259P. 4. Provisions 1,071 - 193 45 194 396 243P. 5. Tax liabilites 2,915 - - - - 2,915 -- current tax liabilities - - - - - - -- deferred tax liabilities 2,915 - - - - 2,915 -P. 6. Other liabilites 10,306 - 8,071 665 1,439 96 35P. 7. Share capital 16,258 - - - - - 16,258P. 8. Share premium account 61,885 - - - - - 61,885P. 9. Fair value reserves (502) - - - - - (502)P. 10. Retained earnings 78,383 - - - - - 78,383P. 11. Net profit for the year 7,591 - - - - - 7,591Total liabilities and equity (2) 2,132,693 314,602 371,442 227,654 246,273 678,686 294,036Inconsistency (1)-(2) - (277,447) (82,891) (162,774) 159,110 52,227 311,77427 Forecasted outflow based on commitments andcontingent liabilities (3)5,765,607 - 166,284 92,011 553,393 4,253,026 700,893Total inconsistency (1)-(2)-(3) (5,765,607) (582,646) (465,313) (418,220) (255,909) (4,189,353) (9,709)Total cumulative inconsistency (427,103) (892,416) (1,310,636) (1,566,545) (5,755,898) (5,765,607)UniCredit Bank · 2007 Annual Report 189


Risk ReportRisk ReportCredit RiskCredit risk is the risk that a counterparty will cause a financialloss for the Bank by failing to keep its obligations. Credit risk isa significant risk for the Bank’s business, therefore, managementcarefully manages its exposure to credit risk. The credit risk theBank is exposed to is a result of lending activities (loans, advances,guarantees) and derivatives sales (positive market value of atransaction). Credit risk management is centralized for the entirecorporate and business client segment while partially decentralizedin the Retail segment.Credit risk control is centralized. Credit risk management and creditcontrol reports to the board member responsible for risk.Credit Risk measurementsIn measuring credit risk, corporate customers and business clientsare assessed with a rating that reflects the probability of default. Inaddition to rating, also exposure as well as repayment potential isassessed based on the available cash flow projection.The Bank assesses the probability of default as mentioned for allcorporate and business clients based on a system developed forgroup needs but calibrated on local circumstances.Rating is a result of financial data and qualitative factors and warningsignals. The Bank is using ten major rating classifications withadditional sub-classifications. All together there are 28 differentrating classes, starting at 1 and finishing with rating 10.For reporting to national bank, the Bank uses a mapping systempresented in Table 1.Table 1: Bank’s rating structure and mapping to national bank ratingsystemRating classClassificationof exposureNational bankclassification1 Performing A2 Performing A3 Performing A4 Performing A5 Performing A6 Performing A7 Performing B8 Non Performing C9 Non Performing D10 Non Performing EThe Bank is creating impairments based on evidence that a customeris in delay. The portfolio is checked on a monthly basis by the riskcontrol department. In such cases, the Bank prepares expected cashflow calculation and asses needed impairments.Risk limit control and mitigation policiesThe Bank manages limits and controls concentration of credit riskwhenever they are identified, in particular, to individual clients andgroups of related clients.The Bank uses, in the corporate segment, the system of individualapproval of any exposure, while in the business client segment andin retail also a scoring tool is partially used for some credit riskproducts. Approvals are based on cash flow capability of clients torepay loans or other credit risk exposures. The approval process isdefined with the Bank’s decree and delegated approval rights areimplemented. Each exposure in the corporate and business segmentsector is regularly, at least once per year, checked and monitored viaannual reviews.In addition to this, the Bank has established a Credit Risk departmentthat is responsible for monthly monitoring of whole portfoliossegmented on different levels. Such analyses are the basis for furtherdecisions about general credit policy of the Bank.CollateralIn order to mitigate credit risk, the Bank is taking collateral in order190 2007 Annual Report · UniCredit Bank


to secure risk exposure. The Bank has implemented a collateralguideline that defines appropriate types of collateral. In general,collateral types for loans and other credit risk exposures can besegmented in:• Mortgages over residential and business properties;• Pledge over movables and cash deposits;• Charges over financial instruments such as bonds and shares.Long term loans and other credit risk exposure are in generalsecured. According to collateral guidelines also collaterals in thecorporate and business clients segment is subject to at least anannual reviewing process. Such approach gives the Bank a betterview of the current status and actual value of collateral.Table 2: Bank’s total exposure (including on and off balance)according to rating structure and collateralRating classExposure(EUR Million)Collateral value(EUR Million)A 2.067,22 749,72B 15,03 7,96C 20,05 9,70D 5,73 1,78E 7,21 3,11Total 2.115,24 772,27As of 31 December 2007, the Bank is recognizing 29.5 million eurosof unprovided, overdue liabilities. The system the Bank is usingis able to start to monitor delays immediately after maturity. Thementioned amount did not result in activation in any of the defaultevents.Impairment and provisioning policiesThe Bank has a defined procedure and internal policy about themonitoring of portfolio as well as for creation of impairments.Internal policy also is in line with strict regulation by the nationalbank. The Bank has a support system to create impairment on aclient or even for each single deal.The Bank implements a so called “default event” on the client levelif any client is in delay for more than 90 days with payment to theBank. Consequence of such action is downgrade of the client andcreation of impairment on the client or transaction level, dependingon the situation.This procedure is prescribed by guidelines. The responsibility forthe portfolio monitoring is with the Credit Risk Control department,checking the whole portfolio at least on a monthly basis.According to guidelines, the Bank has five different impairmentclasses for the retail segment and 29 different impairment classesfor the corporate and business classes. Calculation of neededimpairment is prepared on the basis of past experience with theclient and expected future cash flow from the client.The Bank’s criteria for creation of impairments:• Delay in contractually agreed payments of principal, interest and/or other fees• Cash flow difficulties• Breach of loan covenants or conditions• Bankruptcy or any other legal proceedings that can result in lossfor the BankIn addition to this, the Bank is using two status for clients that arein delay of payments to the Bank. The so called “watch loan” statusmeans that the client is still performing but is repaying liabilitieswith delay. In such cases, Work-out department, organized withinCredit Risk Management Division, is involved in direct activity withsuch clients. The other status is so called “Work-out” status. Thisstatus means that the contract with the client is cancelled and theWork-out department is responsible for recovery or restructuring ofexposure of the client.Table 3: Bank’s exposure according to rating structure and createdimpairmentsRating classExposure(EUR Thsd)Impairments(EUR Thsd)A 2.067,22 1,87B 15,03 1,07C 20,05 4,84D 5,73 4,09E 7,21 6,89Total 2.115,24 18,76UniCredit Bank · 2007 Annual Report 191


Risk ReportRisk ReportOperational RiskOperational Risk is defined as risk of loss resulting from inadequateor failed internal processes, people and systems, or from externalevents. The definition includes legal risk but excludes strategic andreputation risk.The Bank collects all losses and profits related to operational riskevents above 100 euros and all potential losses above 10,000 eurosand allocates the operational risk events in line with ORX standardsto the following seven categories:• Internal fraud;• External fraud;• Employment practices and workplace safety;• Clients, products and business practices;• Damage to physical assets;• Business disruption and system failures;• Execution, delivery and process.Operational risk losses regularly get reconciled with the Bank’s profitand loss statement.Scenario analysis estimates the operational risk exposure ofUniCredit Banka Slovenija d.d. The scenarios are defined byanalyzing internal losses, external events deemed relevant, keyoperational risk indicators’ trend, processes, products and eventtypes. The experience of process managers and operational riskmanagers as well as suggestions from internal audit or ALCO istaken into consideration.Once scenarios are identified, the Operational Risk Managementfunction interviews the relevant process owners. Results, in termsof worst case scenarios, critical processes, mitigation proposals orimpacts on capital at risk, are described in specific scenario reportsproduced by the Banks’ Operational risk management function.UniCredit Banka Slovenija d.d. currently works on the implementationof key risk indicators, which reflect the operational risk profile of theBank and correlate to different levels of risk. Such key risk indicatorswill allow operational risk management and ALCO to have an earlywarning system and set mitigation measures before the operationalrisk hits the Bank.Legal RisksProvisions have been made for pending legal risks in line with theestimated probability of costs arising from litigation.Business RiskBusiness risk is defined as adverse, unexpected change in businessvolume and/or margins that cannot be attributed to other risk types,resulting in fluctuations of revenues and costs, not consideringextraordinary items. The changes in business volume result fromunexpected development of market trend, unexpected customerbehaviour or new market participants/products.The calculation of business risk is based on an earnings-at-riskmodel using historical time series of revenues and costs. Businessrisk is currently monitored within the risk capital planning process.Risks Arising from the Bank’sShareholdings and Equity InterestsUniCredit Banka Slovenija d.d. is not actively making long-terminvestments in shares on its own account for the purpose of realizingshort-term trading or long-term substantial value increases. Theshareholdings of the Bank are either closely related to the Bank’sbusiness (SWIFT; Ljubljana Stock Exchange etc.) or the result ofrestructuring attempts.Real Estate RiskUniCredit Banka Slovenija d.d. only has a minor exposure in realestate financing and does not invest in real estate itself.Financial DerivativesDerivatives are classified as interest rate contracts or foreignexchange contracts according to the underlying financial instrument.The breakdown of transactions by the remaining period to maturityand the classification of instruments as interest rate and foreignexchange contracts follow international recommendations. In allcategories of transactions, a distinction is made between over-thecounter(OTC) and exchange-traded contracts, whereas UniCreditBanka Slovenija d.d. was engaged only in OTC business in 2007.UniCredit Banka Slovenija d.d. is a business partner in plain-vanilla192 2007 Annual Report · UniCredit Bank


and structured transactions for corporate customers and closes therisk positions opened, which exceed available market risk limits withspecialized trading desks within UniCredit Group. UniCredit BankaSlovenija d.d. also uses derivatives to optimize its balance sheetstructure.Those derivatives, which are designated as cash flow hedges are keptin separate portfolios. The efficiency test is performed on a monthlybasis, both in 2007 and 2006 there were no inefficiencies detected.For portfolio management and risk management purposes, contractsare valued at current prices using recognized and tested models.Market values show the contract values as of the balance sheet date,while positive market values of OTC contracts indicate the potentialdefault risk arising from the relevant activity.For the purposes of credit risk management, UniCredit BankaSlovenija d.d. has used a new counterparty model since 2006. Inthe old system, OTC derivatives (forward transactions, swaps, andoptions bought) were taken into account with their respective positivemarket value and an add-on depending on the product, currency andmaturity similar to the regulatory requirements. The new model isbased on the simulation approach. The exposure of any individualcounterparty is evaluated by running a path simulation of its portfoliobased on the individual products contained therein.The future present value of the whole portfolio is calculated basedon scenarios representing volatilities and correlations of a three-yeartime series of the risk factors.The limit utilization is the maximum of the 97.5 % quantiles of eachgrid point.UniCredit Bank · 2007 Annual Report 193


Risk ReportRisk ReportTotal volume of derivative transactions 31. 12. 2006Notional amounts Market value Notional amounts Market value(positive)< 1 year 1-5 years > 5 years Total positive negative BankingbookTradingbookBankingbookTradingbookin EUR mioMarket value(negative)BankingbookTrading bookTOTAL 473 1,782 718 2,972 25 24 75 2,897 1 24 1 23of which OTC-products 473 1,782 718 2,972 25 24 75 2,897 1 24 1 23of which: exchange-traded products - - - - - - - - - - - -A. Interest rate contracts 24 1,780 718 2,522 22 21 75 2,447 1 21 1 20OTC products: 24 1,780 718 2,522 22 21 75 2,447 1 21 1 20FRAs - - - - - - - - - - - -Forward interest rate transactions - - - - - - - - - - - -Single-currency swaps 24 735 293 1,052 16 15 75 977 1 15 1 15Interest rate options bought - 523 212 735 5 - - 735 - 5 - -Interest rate options sold - 523 212 735 - 5 - 735 - - - 5Other interest rate contracts - - - - - - - - - - - -Exchange-traded products: - - - - - - - - - - - -Interest rate futures - - - - - - - - - - - -Options on interest rate futures - - - - - - - - - - - -B. Foreign exchange contracts 448 2 - 450 3 3 - 450 - 3 - 3OTC products: 448 2 - 450 3 3 - 450 - 3 - 3Forward foreign exchange transactions 139 2 - 140 2 1 - 140 - 2 - 1Cross-currency swaps - - - - - - - - - - - -Currency options bought 155 - - 155 2 - - 155 - 2 - -Currency options sold 155 - - 155 - 2 - 155 - - - 2Other foreign exchange contracts - - - - - - - - - - - -Exchange-traded products: - - - - - - - - - - - -Currency futures - - - - - - - - - - - -Options on currency futures - - - - - - - - - - - -C. Securities-related transactions - - - - - - - - - - - -OTC products: - - - - - - - - - - - -Securities swaps - - - - - - - - - - - -Equity options bought - - - - - - - - - - - -Equity options sold - - - - - - - - - - - -Other securities-related contracts - - - - - - - - - - - -Exchange-traded products: - - - - - - - - - - - -Equity and equity index futures - - - - - - - - - - - -Equity and equity index options - - - - - - - - - - - -194 2007 Annual Report · UniCredit Bank


Total volume of derivative transactions 31. 12. 2007Notional amounts Market value Notional amounts Market value(positive)< 1 year 1-5 years > 5 years Total positive negative BankingbookTrading bookBankingbookTrading bookin EUR mioMarket value(negative)BankingbookTrading bookTOTAL 558 4,961 612 6,131 56 52 170 5,962 2 54 - 52of which OTC-products 558 4,961 612 6,131 56 52 170 5,962 2 54 - 52of which: exchange-traded products - - - - - - - - - - - -A. Interest rate contracts 262 3,500 612 4,374 36 32 170 4,205 2 34 - 32OTC products: 262 3,500 612 4,374 36 32 170 4,205 2 34 - 32FRAs - - - - - - - - - - - -Forward interest rate transactions - - - - - - - - - - - -Single-currency swaps 171 2,088 269 2,527 26 22 170 2,358 2 24 - 22Interest rate options bought 46 706 172 923 10 - - 923 - 10 - -Interest rate options sold 46 706 172 923 - 10 - 923 - - - 10Other interest rate contracts - - - - - - - - - - - -Exchange-traded products: - - - - - - - - - - - -Interest rate futures - - - - - - - - - - - -Options on interest rate futures - - - - - - - - - - - -B. Foreign exchange contracts 254 1,454 - 1,708 19 18 - 1,708 - 19 - 18OTC products: 254 1,454 - 1,708 19 18 - 1,708 - 19 - 18Forward foreign exchange transactions 85 45 - 130 2 1 - 130 - 2 - 1Cross-currency swaps 6 83 - 89 - - - 89 - - - -Currency options bought 81 661 - 743 17 - - 743 - 17 - -Currency options sold 82 665 - 746 - 17 - 746 - - - 17Other foreign exchange contracts - - - - - - - - - - - -Exchange-traded products: - - - - - - - - - - - -Currency futures - - - - - - - - - - - -Options on currency futures - - - - - - - - - - - -C. Securities-related transactions 30 - - 30 - 1 - 30 - - - 1OTC products: 30 - - 30 - 1 - 30 - - - 1Securities swaps - - - - - - - - - - - -Equity options bought 15 - - 15 - - - 15 - - - -Equity options sold 15 - - 15 - 1 - 15 - - - 1Other securities-related contracts - - - - - - - - - - - -Exchange-traded products: - - - - - - - - - - - -Equity and equity index futures - - - - - - - - - - - -Equity and equity index options - - - - - - - - - - - -D. Credit- and other derivatives 12 7 - 19 1 1 - 19 - 1 - 1OTC products: 12 7 - 19 1 1 - 19 - 1 - 1Credit default swaps - - - - - - - - - - - -Total return swaps - - - - - - - - - - - -Other credit derivatives - - - - - - - - - - - -Other derivatives (commodities) 12 7 - 19 1 1 - 19 - 1 - 1UniCredit Bank · 2007 Annual Report 195


Risk ReportRisk ReportFair Value of Financial Assetsand LiabilitiesFinancial instruments measured at fair valueusing a valuation techniqueThe total amount of the change in fair value estimated using avaluation technique that was recognized in profit and loss during theperiod is 239,156 euros (2006: 464,187 euros). The Bank calculatesfor all OTC traded instruments, valuations which are based on currentmarket data available from independent market data providers,whereas the models behind are state of the art and embedded in thetrading systems Wall Street and Opus.Financial instruments not measured at fairvalueUniCredit Banka Slovenija d.d. measures all bonds and investmentsat fair value. The fair value of floating rate placements such asEURIBOR or LIBOR linked loans is the carrying amount. The Bankhas granted only a minor amount of fixed rate loans and deems thedifference of fair value and carrying amount as immaterial.continuously by the Bank’s management and filed with the Bank ofSlovenia on a quarterly basis.The Bank of Slovenia requires each bank to maintain a ratio of totalregulatory capital to the risk weighted asset (the capital adequacyratio) at or above the internationally agreed minimum of 8 %.In order not to violate the 8 % ratio, UniCredit Banka Slovenija d.d.underwent, in line with legislation, an interim audit on the ninemonthresult and allocated the interim profit based on an unqualifiedopinion to the eligible capital.The table below summarizes the composition of the regulatorycapital and the capital adequacy ratio for the years ending31 December 2007 and 2006.Capital ManagementUniCredit Banka Slovenija d.d. focuses within the Internal CapitalAdequacy Assessment Process (ICAAP) on the economic view ofmatching the economic capital (capital demand) with the risk-takingcapacity (shareholder’s equity) in line with Pillar II of the new Baselaccord.The economic capital gets calculated retrospectively on a quarterlybasis but also gets monitored within the yearly planning process.As both capital demand and capital supply evolve over time, theBank ensures that, on one side, capital demand mainly driven bybusiness plans and by risk-profile forecasts in combination withmacro-economic scenarios does not exceed capital supply, andon the other side, that capital supply mainly influenced by plannedcapital transactions and expected profits is kept at a level to coverthe calculated risks at all times.Simultaneously, the Bank has to consider the regulatory view. Here,the regulatory capital for credit risk, market risk, and in the future,under Basel II, also for operational risk, accounts for the capitaldemand, while balance-sheet capital (Tier1, Tier 2 and Tier 3)constitutes the capital supply side. Capital adequacy is monitored196 2007 Annual Report · UniCredit Bank


The regulatory capital and the capital adequacy ratioEUR 1,000 31. 12. 2007 31. 12. 2006Own fuds 129.137 138.104Originalown funds 129.137 138.104Eligible Capital 62.119 78.144Paid up capital 16.270 16.270Share premium 45.849 61.874Interim profits 70.793Eligible Reserves 16.024 85.974Reserves 16.024 70.793(-) Other deductions from Original Own Funds (19.799) (26.014)(-) Intangible assets (6.722) (7.049)(-) Other country specific deductions to Original Own Funds (13.077) (18.965)(-) Other (13.077) (18.965)A clients 12.965 17.222revaluation adjustments for AFS - 1.743Other 112Additional own funds -Capital requirement 108.198 130.594Total capital requirements for credit, counterparty credit, dilution and delivery risks 96.618 128.279Calc. of risk-adjusted on-balance sheet asset items 84.203 113.029Calc. of risk-adjusted off balance sheet items 11.051 12.593Calc. of risk-adjusted items for derivative financial instruments 13 37Capital requirement for counter-party and settlement risk 1.352 2.620Total capital requirements for position, foreign exchange and commodity risks 11.579 2.164Position, foreign exchange and commodity risks under standardised approaches (SA) 11.579 2.164Traded debt instruments 11.413 2.164Equity - -Foreign Exchange 166 -Commodities - -Other and transitional capital requirements - 151Capital adequacy (%) 9,55% 8,46%UniCredit Bank · 2007 Annual Report 197


Graphic development and Composition:Mercurio S.r.l. Studi di promozione pubblicitaria - MilanPublisher:UniCredit Banka Slovenija d.d.Šmartinska 140, 1000 Ljubljanatel: (+386) 1 5876 600fax: (+386) 1 5876 684e-mail: info@unicreditgroup.siPrinted:Tiskarna Schwarz

More magazines by this user
Similar magazines