Annual Financial Statements 2010 of Bank Austria

Consolidated Financial Statements in accordance with IFRSs
The Remuneration Committee adopted resolutions by written
circular votes as required.
Management Board
In the 2010 financial year, Stephan Winkelmeier resigned from the
Management Board with effect from 7 June 2010. Doris Tomanek
was appointed to the Management Board with effect from 7 May
2010, and Massimiliano Fossati was appointed to the Management
Board with effect from 8 June 2010.
Supervisory Board
The Supervisory Board was saddened by the death of Gerhard
Scharitzer on 15 February 2010. At the Annual General Meeting held
on 7 July 2010, and with effect from the same date, Ernst Theimer
was elected to the Supervisory Board for the remaining term of office.
The Chairman of the Supervisory Board, Alessandro Profumo, resigned
from the Supervisory Board with effect from 21 September
2010 (in January 2011, Paolo Fiorentino was elected to succeed him
as Chairman of the Supervisory Board).
Details of the composition of the Supervisory Board and the
Super visory Board Committees in the past financial year are
given in the section “Supervisory Board and Management Board
of UniCredit Bank Austria AG” of the Annual Report.
Separate financial statements and
consolidated financial statements
The accounting records, the 2010 separate financial statements and
the management report were audited by the Auditing Board of the
Austrian Savings Bank Auditing Association and by KPMG Austria
GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft. As the
audit did not give rise to any objections and the legal requirements
were fully complied with, the auditors’ report was expressed without
qualification.
The Supervisory Board endorsed the findings of the audit, agreed
with the separate financial statements and management report,
including the proposal for the appropriation of profits, presented by
the Management Board, and approved the 2010 separate financial
statements, which were thereby adopted pursuant to Section 96 (4)
of the Austrian Joint Stock Companies Act.
The compliance review of the Corporate Governance Report pursuant
to Section 243b of the Austrian Business Code was performed by
Univ. Prof. DDr. Waldemar Jud Corporate Governance Forschung CGF
GmbH and has not given rise to any major objections in its final
findings.
The 2010 consolidated financial statements were audited by the
Auditing Board of the Savings Bank Auditing Association and by
KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft
for consistency with International Financial Reporting Standards
(IFRSs) published by the International Accounting Standards
Board as adopted by the European Union, and the management report
of the Group was audited for consistency with the Austrian Business
Code. The audit did not give rise to any objections and the legal
requirements were fully complied with. In the opinion of the auditors,
the consolidated financial statements give a true and fair view of the
financial position of the Group as at 31 December 2010, and of the
results of the Group’s operations and its cash flows for the financial
year beginning on 1 January 2010 and ending on 31 December
2010, in accordance with International Financial Reporting Standards
(IFRSs) as adopted by the European Union.
The auditors certified that the management report of the Group was
consistent with the consolidated financial statements, and that the
legal requirements for exemption from the obligation to prepare also
separate consolidated financial statements pursuant to Austrian law
were met, and they expressed their unqualified opinion.
The Supervisory Board has endorsed the findings of the audit.
A word of thanks
The Supervisory Board thanks the Management Board members, the
Employees’ Council, and all employees for their personal commitment
and dedication. In a challenging environment they performed
well and achieved highly respectable results.
Vienna, 14 March 2011
The Supervisory Board
Paolo Fiorentino
Chairman of the Supervisory Board
Bank Austria · Annual Financial Statements 2010
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