Annual Report: - Gorenjska banka

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Information regarding the adoption and confirmation of the 2011 annual report and proposed use of the 2011 profit for appropriation The Bank’s Management Board first submitted the 2011 annual report to the Audit Committee, which gave a positive opinion on the report. Within the legally prescribed deadline, the Bank’s Management Board submitted to the Supervisory Board for review the audited annual report for 2011, including the Bank’s audited financial statements and the certified auditor’s report prepared by Deloitte revizija, d.o.o., Ljubljana. Based on the audit of Gorenjska banka, d. d., Kranj’s statement of financial position as at 31 December 2011, and the income statement, statement of comprehensive income, statement of changes in equity and cash flow statement for the period then ended, the summary of significant accounting policies and other explanatory notes, the auditor issued the opinion that the Bank’s financial statements present a true and fair picture of the financial position of Gorenjska banka, d. d., Kranj as at 31 December 2011, its operating result and cash flows for the period then ended, in accordance with the International Financial Reporting Standards as adopted by the EU. The auditor’s report also includes confirmation of the consistency of the business report with the audited financial statements. The Supervisory Board reviewed the Managment Board's proposal for the use of the profit for appropriation for 2011 and has agreed with the proposal. The Supervisory Board proposes to the General Meeting of Shareholders that profit for appropriation should be retained and fully transferred to the next year. In the opinion of the Supervisory Board, the Bank's Management Board and the Supervisory Board fulfilled all of their legal obligations in the 2011 financial year. It further asserts that in 2011 the Bank operated successfully despite the extremely demanding market situation and that it continues to realise its key development orientations. The Bank ensured its operations were competitive and managed banking risks. On the basis of the above statements, the Supervisory Board approved at its session the annual report of Gorenjska banka, d. d., Kranj for 2011 and aproved the certified auditor's report for the 2011 financial year and agreed with it. Information on the Supervisory Board's activities in 2012 In the first four months of 2012, the Supervisory Board held two regular and two correspondence sessions. The Board was familiarised with the substance of the valuations of equity stakes in Abanka Vipa, d.d., Ljubljana, Sava, d.d., Kranj, and Pivovarna Laško, d.d., Laško as at 31 December 2011 and provided its approval for Gorenjska banka, d.d., Kranj to use these valuations for the purpose of accounting treatment as at 31 December 2011. Besides the already mentioned examination of the Bank's unaudited annual report with financial statements for 2011, the Supervisory Board also adopted the reports on exposure under the Banking Act as at 31 December 2011. It adopted the assessment of the Supervisory Board's work in 2011 and the internal audit report for the last quarter of 2011. It also provided its consent to the Rules on the Management Strategy for Risks and the Process for Assessing Adequate Internal Capital (ICAAP) in Gorenjska banka, d.d., Kranj. It adopted the information on the Bank's business activities in the first quarter of 2012, examined the information on alliance of Abanka Vipa, d.d., Ljubljana and Gorenjska banka, d.d., Kranj, and acquainted itself with the market and credit risks analysis. In relation to the alliance with Abanka Vipa, d.d., Ljubljana, the Supervisory Board was familiarised at its 34th session held on 16 February 2012 with the document Framework Bases for the Examination of Synergy Effects of Capital Ties between Gorenjska banka, d.d., Kranj and Abanka Vipa, d.d., Ljubljana and for the Assessment of the Justification of Capital Ties, thus adopting the decision that the submitted document should be amended and supplemented as concerns the assessment and projections for all the risks, capital adequacy, liquidity, potential synergies, operational efficiency, and presentation of individual elements of the Bank's operations, which should not deteriorate due to the alliance. Activities time schedule should also be adjusted accordingly. 14 Gorenjska banka, d. d., Kranj Annual Report 2011 Management Report Franc Balanč President of the Supervisory Board
Management of the Bank Management Board Tilen Zugwitz Member of the Management Board Supervisory Board Drago Štefe Member Miro Pinterič Member Miha Resman Member Gorazd Trček President of the Management Board Mojca Globočnik Member 15 Franc Balanč President Gorenjska banka, d. d., Kranj Annual Report 2011 Management Report Zlato Kavčič Deputy President Srečko Korber Member of the Management Board Mitja Selan Member
Page 1 and 2: Annual Report: All that counts.
Page 3: Financial Report 51 Statement of ma
Page 6 and 7: 6 Gorenjska banka, d. d., Kranj Ann
Page 8 and 9: Financial highlights International
Page 10 and 11: Statement of the President of the M
Page 12 and 13: Report of the Supervisory Board of
Page 16 and 17: Management and Organizational Chart
Page 18 and 19: Business Network Gorenjska banka, d
Page 21 and 22: Knowledge. A veritable wealth of kn
Page 23 and 24: In 2011, the financial crisis again
Page 25 and 26: About the Gorenjska banka group Com
Page 27 and 28: About the associated company Skupna
Page 29 and 30: The Bank’s business policies by k
Page 31 and 32: Activities in the area of human res
Page 33 and 34: Securities portfolio management The
Page 35 and 36: Total comprehensive income, i.e. ne
Page 37 and 38: The Bank’s equity investment in t
Page 39 and 40: The figure below shows the structur
Page 41 and 42: Comprehensive savings products offe
Page 43 and 44: Social responsibility Sponsorships
Page 45 and 46: Data and explanations pursuant to A
Page 47: Other explanations Shareholders in
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Page 52 and 53: Statement of management’s respons
Page 54 and 55: Statement of financial position The
Page 56 and 57: Cash flow statement The notes on pa
Page 58 and 59: 2.1.1. Existing standards and inter
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2.9. Fee and commission income Fees
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2.13. Accounting for leases 2.13.1.
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2.19. Financial guarantee contracts
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In 2011, the Bank applied a model f
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Back office and risk management sec
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4.1.2. Maximum exposure to credit r
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The total impairment provision for
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c) Loans and receivables past due a
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Loans to individuals are impaired a
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4.1.6. Debt securities The table be
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The Bank has a defined absolute lim
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(in thousand of EUR) Up to 1-3 3-12
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To control liquidity risk, accounti
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4.3.2. Derivative financial liabili
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4.4. Estimated fair value of financ
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4.4.3.1. Assets and liabilities mea
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In order to measure the fair value
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The table below contains a summary
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100 Gorenjska banka, d. d., Kranj A
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According to Slovenian legislation
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40. - 48. Other notes 40. Off-balan
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Gorenjska banka, d. d., Kranj Bleiw
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Annual Report: - Gorenjska banka

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