Annual Financial Statements 2011 of Bank Austria

Notes to the Financial Statements of UniCredit Bank Austria AG
Notes to the Financial Statements of
UniCredit Bank Austria AG
1. General information
The financial statements of UniCredit Bank Austria AG
for the 2011 financial year were prepared pursuant to
the provisions of the Austrian Business Code
(Unternehmensgesetzbuch – UGB) in its currently
applicable version and in compliance with the rules of
the Austrian Banking Act (Bankwesengesetz – BWG)
and the Austrian Joint Stock Companies Act
(Aktiengesetz – AktG) that are applicable to credit
institutions. The formats of the balance sheet and of
the profit and loss account comply with the forms in
Annex 2 to Section 43 of the Austrian Banking Act.
As the securities issued by UniCredit Bank Austria AG
are admitted to trading on a regulated exchange in the
European Union, UniCredit Bank Austria AG prepares
its consolidated financial statements as a credit
institution in accordance with International Financial
Reporting Standards (IFRSs). The consolidated
financial statements are published on the Internet
(www.bankaustria.at).
UniCredit Bank Austria AG is a subsidiary included in
the consolidated financial statements of UniCredit
S.p.A.
The consolidated financial statements prepared by the
Group’s parent company are published at the following
address: UniCredit S.p.A., registered office: Via A.
Specchi 16, 00100 Rome, Italy. They are published on
the Internet at www.unicreditgroup.eu.
Implementation of disclosure requirements
pursuant to Sections 26 and 26a of the Austrian
Banking Act
Disclosure pursuant to Section 26 (1) of the Austrian
Banking Act for UniCredit Bank Austria AG is carried
out as part of comprehensive disclosure by the parent
company UniCredit based on the consolidated financial
position in its function as EEA parent bank of UniCredit
Bank Austria AG.
As regards the disclosure requirements pursuant to
Section 26 (1) of the Austrian Banking Act, we refer to
the website of UniCredit Group.
UniCredit Bank Austria AG is a significant subsidiary
pursuant to Section 26a (4) of the Austrian Banking
Act and therefore discloses its supervisory capital
structure and its capital adequacy requirement;
furthermore, the bank discloses information regarding
the use of own estimates for volatility adjustments
(comprehensive method) for credit risk mitigation
techniques to take account of financial collateral
pursuant to Section 17 of the Austrian Disclosure
Regulation (Offenlegungsverordnung – OffV) and in
accordance with the approval by the Austrian Financial
Market Authority (FMA).
As regards the disclosure requirements pursuant to
Section 26a of the Austrian Banking Act and Section
17 of the Austrian Disclosure Regulation, we refer to
the website of UniCredit Bank Austria AG at
www.bankaustria.at
Size classification pursuant to Section 221 of the
Austrian Business Code
According to the size classification pursuant to Section
221 of the Austrian Business Code, UniCredit Bank
Austria AG is classified as a large company.
2. Accounting and valuation methods
2.1. General rule
The financial statements were prepared on the basis of
generally accepted accounting principles and in
compliance with the general requirement of giving a
true and fair view of the company’s assets and
liabilities, its financial position and results. Assets and
liabilities were valued in accordance with the principle
of individual valuation on a going concern basis. The
principle of prudence was observed with due regard to
the special characteristics of banking business
operations.
2.2. Accounting and valuation methods
2.2.1. Foreign currency translation
Assets and liabilities denominated in foreign currencies
were stated in the balance sheet at the European
Central Bank’s reference rates as at 31 December
2011. Expenses and income in foreign currencies were
translated at the ECB’s end-of-month reference rates.
Forward transactions that had not been settled at the
balance sheet date were translated at the forward rate.
Bank Austria – Annual Financial Statements 2011 215