Annual Financial Statements 2008 of Bank Austria

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(2a) Structural changes (CONTINUED) Effects of changes in the group of consolidated companies Assets (€ m) 31 Dec. 2007 ADDITIONS AT The begINNINg Of 2008 OTher ADDITIONS IN 2008 Bank Austria · Annual Financial Statements 2008 DISPOSAL IN 2008 Cash and cash balances 2,967 155 – –1 Financial assets held for trading 19,092 – – – Financial assets at fair value through profit or loss 935 106 – – Available-for-sale financial assets 10,864 30 631 –582 Held-to-maturity investments 7,623 – – –416 Loans and receivables with banks 38,007 421 7 –175 Loans and receivables with customers 115,216 3,604 3 –100 Hedging derivatives 1,147 – – – Changes in fair value of portfolio hedged items (+/–) – – – – Investments in associates and joint ventures 2,281 132 629 – Insurance reserves attributable to reinsurers – – – – Property, plant and equipment 2,003 379 56 –5 Intangible assets 4,400 20 – –5 of which goodwill 3,837 – – – Tax assets 1,007 5 6 –7 a) current tax assets 151 – – – b) deferred tax assets 856 5 6 –7 Non-current assets and disposal groups classified as held for sale 1,727 – – – Other assets 1,918 38 1 –45 TOTAL ASSeTS 209,186 4,890 1,333 –1,335 Liabilities and equity (€ m) 31 Dec. 2007 ADDITIONS AT The begINNINg Of 2008 OTher ADDITIONS IN 2008 DISPOSAL IN 2008 Deposits from banks 52,445 1,055 54 –19 Deposits from customers 93,203 2,490 7 –1,145 Debt securities in issue 26,496 646 – – Financial liabilities held for trading 7,442 – 3 – Financial liabilities at fair value through profit or loss 2,386 – – – Hedging derivatives 1,638 – – – Changes in fair value of portfolio hedged items (+/–) – – – – Tax liabilities 634 29 – –1 a) current tax liabilities 125 3 – – b) deferred tax liabilities 510 26 – – Liabilities included in disposal groups classified as held for sale 1,247 – – – Other liabilities 3,574 59 2 –84 Provisions for risks and charges 4,611 8 1 –5 a) post-retirement benefit obligations 4,088 8 – –2 b) other provisions 523 1 1 –3 Insurance reserves 178 – – – Equity 15,332 603 1,265 –82 of which Minorities (+/–) 660 – – – TOTAL LIAbILITIeS AND eqUITy 209,186 4,890 1,333 –1,335 45
Consolidated Financial Statements in accordance with IFRSs Notes (CONTINUED) Changes resulting from net asset value adjustments of subsidiaries acquired in the previous year Net asset value adjustments were carried out in respect of the subsidiaries ATF Bank, Kazakhstan, and Aton International Limited, Nicosia, acquired in the previous year. The values published for 2007 were adjusted and the adjusted figures are used as comparative figures in the 2008 Annual Report. ATf bank In November 2007, UniCredit Bank Austria AG acquired 92.88% of the share capital of ATF Bank, Kazakhstan, with subsidiaries in Kyrgyzstan, Tajikistan and the Omsk region in southern Siberia, at a purchase price including additional costs of € 1,592 m. After net asset value adjustments, goodwill was 209,700 m tenge or € 1,176.8 m. The net asset value adjustments related to loans and receivables with customers, the intangible assets brand name and customer base which were acquired as part of the acquisition of ATF Bank, and related deferred taxes. The value of the brand name was determined at 9,596 m tenge or € 53.9 m, on the assumption of an indefinite useful life from a current perspective. The value of the corporate customer base was determined at 13,832 m tenge or € 77.6 m, and is amortised on a straight-line basis over the useful period of 12 years. The value of the SME customer base was determined at 6,665 m tenge or € 37.4 m and is amortised on a straight-line basis over the useful period of 18 years. After further purchases of shares in 2008, UniCredit Bank Austria AG’s shareholding interest in ATF Bank as at 31 December 2008 was 99.6%, the total purchase price including additional costs is € 1,898.3 m, goodwill amounts to 232,991 m tenge or € 1,299.2 m. Aton International The purchase transaction concerning Aton International Limited, Nicosia, and Aton Broker, Moscow, companies acquired in the previous year, was completed in the third quarter of 2008. The total purchase price including additional costs amounts to € 315.8 m. After net asset value adjustments, goodwill for Aton International is US$ 236.9 m (€ 172.8 m). The net asset value adjustments in the amount of € 21.1 m relate to the intangible assets customer base, software and favourable rental agreements, which are amortised on a straight-line basis over the useful period, and to related deferred taxes. Goodwill for Aton Broker, Moscow, remained unchanged at € 43.7 m. Bank Austria · Annual Financial Statements 2008 46
Page 1 and 2: Annual Financial Statements 2008 of
Page 3 and 4: Bank Austria at a Glance Income sta
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Page 7 and 8: As a result of the sharp rise in co
Page 9 and 10: Bank Austria in 2008 Overview � B
Page 11 and 12: The same applies to our CEE banking
Page 13 and 14: Net interest income in 2008 was €
Page 15 and 16: a whole as did the cost of risk at
Page 17 and 18: Profitability, value creation and r
Page 19 and 20: Development of Business Segments Re
Page 21 and 22: After an excellent final quarter of
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Consolidated Financial Statements i
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Bank Austria - Jahresfinanzbericht
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Preliminary remarks on the financia
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Management Report of UniCredit Bank
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Liabilities and Shareholders' Equit
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Profit and Loss Account for the yea
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Notes to the balance sheet Notes to
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The following are also covered by t
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4.3. Loans and advances to, and amo
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4.17. Movements in fixed assets Equ
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4.25.4. Revenue reserves There was
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A.1 Trading book: notional amounts
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A.6 OTC financial derivatives - res
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4.30. Market risk Market risk manag
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5.5. Expenses for subordinated liab
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1. Stock Options MANAGEMENT BOARD/S
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Interests in associated companies a
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Supervisory Board and Management Bo
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Bank Austria - Annual Financial Sta
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Investor Relations Investor Relatio
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