ANNUAL REPORT 2012--mai 2013-9.cdr - Alpha Bank RomÃ¢nia

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ALPHA BANK ROMANIA ANNUAL REPORT 2012 CONTENTS The Executive President’s Letter ........................................................................................................................................... Financial Statements ............................................................................................................................................................. Independent Auditor's Report ............................................................................................................................................... Raportul Auditorului Independent ......................................................................................................................................... Income Statement ................................................................................................................................................................. Balance Sheet ........................................................................................................................................................................ Board of Directors .................................................................................................................................................................. Executive Committee ............................................................................................................................................................ Structure of Alpha Bank Romania .......................................................................................................................................... Branch Network ..................................................................................................................................................................... 12 2 3 4 5 6 7 8 8 9 1
ALPHA BANK ROMANIA ANNUAL REPORT 2012 THE EXECUTIVE PRESIDENT’S LETTER To Shareholders, Customers and Staff From an overall economic outlook, 2012 was a challenging year for both the euro zone and Central and Eastern Europe. At national level, we had a year with a light economic growth due to the accelerating expansion of services that balanced the strong decline of the agricultural sector, industry contraction and countervailed stagnant construction industry. The year 2012 was marked by political tensions that increased investor’s aversion towards risk and generated depreciation pressures on the domestic currency and an increase in the cost of public debt financing. GDP grew only by 0.7% in real terms and year-end inflation exceeded by one percentage the upper limit of the target band 3 ± 1%. Alpha Bank Romania continued its efforts to return to its growth course, by trusting in its abilities and staying true to its vision. Our policy priority continued to be focused on intensifying active balance sheet management, prudent management of credit risk, the preservation of adequate liquidity and reducing operating costs. The quality of our portfolio was maintained at satisfactory levels, the non-performing loans quota being one of the lowest in the Romanian banking sector. Trusting in our core values and our commitment to evolution, in 2012 we launched the new online platform Alpha e- statements, allowing our customers to interact with the Bank 24 hours a day the whole year, through an innovative interface that offers detailed information about the funds available in the personal accounts, the transactions on current and savings accounts, credit cards, deposits or loans. The service is offered to all retail customers and can be accessed from any terminal with Internet access, including mobile phones and tablets. The Bank also continued to stand by its commitment to corporate social responsibility and supported various cultural, sport and social projects. As a confirmation the Bank received the distinction for the "most ardent supporter of the community projects" from a specialized business magazine. At the end of a year marked by uncertainty, Alpha Bank maintained its place among the top banks in Romania and this would not have been possible without the permanent support of our shareholders alongside the professionalism and integrity of our employees and the loyalty of our clients, to whom I would like to extend my warmest thanks. Sergiu Oprescu Executive President Alpha Bank Romania 2 THE EXECUTIVE PRESIDENT’S LETTER
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ANNUAL REPORT 2012--mai 2013-9.cdr - Alpha Bank RomÃ¢nia

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