Annual Report 2011 - Hong Kong Monetary Authority

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2011 2010 (in CHF ‘000) (in CHF ‘000) 17 Statement of changes in shareholders’ equity Share capital at beginning of year Share capital 45,000 45,000 Additional paid-in capital 93,220 130,779 Retained earnings at beginning of year (including minority interests’ share in shareholders’ equity) 798,542 781,561 of which: - currency translation differences (96,456) (32,398) Reserves for general banking risks 294,967 258,048 Group net income 149,898 136,814 Treasury stock (56,300) (37,929) Total shareholders’ equity at beginning of the reporting period 1,325,327 1,314,273 Capital increase/decrease - - Allocations to/releases from reserves for general banking risks 16,767 36,919 Allocations to/releases from additional paid-in capital - (37,929) Dividend (69,750) (81,000) Other allocations to/releases from retained earnings (13,491) 25,226 Net income 125,064 149,898 Treasury stock buybacks (at purchase price) (18,280) (31,056) Sales of treasury stock (at purchase price) 18,564 12,685 Profit or loss on sales of treasury stock 424 370 Currency translation differences (3,151) (64,059) Total shareholders’ equity at end of the reporting period 1,381,474 1,325,327 of which: - share capital 45,000 45,000 - additional paid-in capital 93,644 93,220 - retained earnings (including minority interests’ share in shareholders’ equity) 862,048 798,542 of which: - currency translation differences (99,607) (96,456) - reserves for general banking risks 311,734 294,967 - Group net income 125,064 149,898 of which: - minority interests’ share in net income 8,800 14,123 Treasury stock (56,016) (56,300) The minority shareholders are considered as providers of funds to the Group. As a consequence, their interest is treated as Group equity. Similarly, net income attribuable to minority interests is included in consolidated net income. From 2011 “Sales of treasury stock” indicates the gross position in trading in own shares. The 2010 figure has been restated. 2011 2010 (number of shares) (number of shares) Own shares deducted from shareholders’ equity Treasury stock included in securities and precious metals trading portfolio - number of own shares at 1 January 113 136 - number of shares purchased during the reporting year 418 485 - number of shares sold during the reporting year (418) (508) - number of own shares at 31 December 113 113 Treasury stock reported as financial investments - number of own shares at 1 January 2,191 1,450 - number of shares purchased during the reporting year 330 741 - number of shares sold during the reporting year (300) - - number of own shares at 31 December 2’221 2’191 FINANCIAL REPORT CONSOLIDATED ACCOUNTS 85
86 2011 ANNUAL REPORT - BANQUE PRIVÉE EDMOND DE ROTHSCHILD SA On demand Callable Within 3 months In 3 to 12 months In 12 months to 5 years After 5 years 18 Maturity profile of current assets, financial investments and borrowed funds (in thousands of CHF) Current assets Cash and other liquid assets 3,300,618 - - - - - 3,300,618 Claims arising from money market paper 21 - - 17,682 - - 17,703 Due from banks 885,905 200,574 6,285,785 19,547 - - 7,391,811 Due from customers - 610,544 363,019 337,913 28,475 37,454 1,377,405 Mortgage loans Securities and precious metals held - 11,214 - - - - 11,214 for trading purposes 32,081 - - - - - 32,081 Immobilisations financières 814,574 - 29 79,562 140,947 39,345 1,074,457 Total 2011 5,033,199 822,332 6,648,833 454,704 169,422 76,799 13,205,289 Total 2010 1,768,129 1,416,338 7,674,824 404,482 214,044 63,323 11,541,140 Borrowed funds Liabilities arising from money market paper 33 15 - - - - 48 Due to banks Due to customers on savings or deposit ac- 241,577 - 17,548 - - - 259,125 counts - 7,358 - - - - 7,358 Other amounts due to customers 10,744,246 197,814 714,168 60,652 20 12,880 11,729,780 Medium-term bank bonds - - - - - - - Total 2011 10,985,856 205,187 731,716 60,652 20 12,880 11,996,311 Total 2010 9,430,014 238,464 633,547 40,295 5 10,408 10,352,733 Total
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Annual Report 2011
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Contents 6 20 Banque Privée Edmond
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Banque Privée Edmond de Rothschild
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1 4 1 Odéon, Théâtre de l’Euro
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within our group, which have develo
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Is this the end of the market econo
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dangerous to bet on bureaucracy as
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SENIOR MANAGEMENT Head Office Execu
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BRANCHES In Switzerland Fribourg Se
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Social Entrepreneurship Economic te
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Corporate governance Introduction O
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1.1.2. / 1.1.3. Group legal structu
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2.6. Transferability restrictions a
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1965-1996 First Vice-President, the
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Jean Laurent-Bellue Member, French,
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3.2. Other activities and vested in
Page 36 and 37: 3.5. Powers The Board of Directors
Page 38 and 39: 4. Executive Committee The Executiv
Page 40 and 41: Jean-Pierre Pieren Member, Swiss, 1
Page 42 and 43: Present duties Since 1988 Chief Fin
Page 44 and 45: 5. Remuneration, profi t-sharing an
Page 46 and 47: This scheme was implemented for a f
Page 48 and 49: 7. Take-overs and defensive measure
Page 50 and 51: 9. Information policy Banque Privé
Page 52 and 53: Intercultural Dialogue Too often, p
Page 54 and 55: Key fi gures Banque Privée Edmond
Page 56 and 57: Awards 2011 in Milan and Large Fund
Page 58 and 59: esources of institutional clients i
Page 60 and 61: Outlook for 2012 2012 will be marke
Page 62 and 63: Report on other legal requirements
Page 64 and 65: Abroad Banks Banque Privée Edmond
Page 66 and 67: Prifund Conseil SA Luxembourg 3) 10
Page 68 and 69: Dividends are eliminated through re
Page 70 and 71: Personnel welfare liabilities Contr
Page 72 and 73: Consolidated balance sheet at 31 De
Page 74 and 75: Consolidated cash fl ow statement a
Page 76 and 77: - The Risk Manager sees to it that
Page 78 and 79: 2011 2010 Change (in CHF ‘000) (i
Page 82 and 83: Forex adjustments Redesignations In
Page 84 and 85: Situation at end-2010 Uses and rele
Page 90 and 91: 22 Breakdown of consolidated assets
Page 94 and 95: (Note 26 cont’d) 2011 2010 Positi
Page 98 and 99: 2011 2010 42 Earnings per share Gro
Page 100 and 101: Health and Research For over a cent
Page 102 and 103: Key fi gures of Banque Privée Edmo
Page 104 and 105: Roundup of results The Bank’s net
Page 106 and 107: Elections as per our Articles of As
Page 108 and 109: Breakdown of revenues (% of total)
Page 110 and 111: Report on other legal requirements
Page 112 and 113: Balance sheet at 31 December 2011 (
Page 114 and 115: Notes to the fi nancial statements
Page 120 and 121: Par value Number of shares 2011 201
Page 122 and 123: Loans granted to the Bank’s gover
Page 124 and 125: (Note 15 cont’d) 2011 2010 Employ
Page 128 and 129: Edmond de Rothschild Conseil et Cou
Page 130 and 131: Other Edmond de Rothschild Group co
Page 132 and 133: Other Edmond de Rothschild Group co
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Annual Report 2011 - Hong Kong Monetary Authority

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