Annual Report Euram Bank AG 2014 / 2015

contributions to growth again. Business activity in Germany and
industrial production have only increased slightly during the
period under review.
Ever since its formation in 1999, Euram Bank remained true to
its successful strategy. A strong focus on business areas that require
a high amount of advisory service and consciously avoiding
retail business have proven successful – to private banking, asset
management and card payment services alike. Owing to the
experience and commitment of our outstanding staff, and very
good performance in all investment strategies, the confidence
and expectations of our clients were again not disappointed in
the financial year 2014/2015, despite the difficult market environment.
Our competence and many years’ experience in advising
our clients in wealth and investment matters, our reliable
and committed way of working, and the risk-aware management
of the assets entrusted to us absolutely proved their worth.
The balance sheet total increased as compared to the previous
year by 4.8% from EUR 148.1 million (30.6.2014) to EUR 155.2
million. “Receivables from customers” increased by 38.6% to
EUR 79.6 million (EUR 57.4 million as at 30.6.2014), the “Liabilities
to customers” also increased by 6.5% to EUR 133.9 million
(EUR 125.7 million as at 30.6.2014). As per 30 June 2015,
“Cash at hand and balances with central banks” amounted to
EUR 1.4 million; the decline by 94.5% as compared to the previous
year (EUR 26.4 million as at 30.6.2014) is due to regrouping
of cash and cash equivalents to “Debt instruments
issued by public authorities and bills of exchange admitted
for refinancing with the central bank” (EUR 9.0 million) and
“Debentures and other fixed-income securities” (EUR 9.0 million).
“Claims against credit institutions” amounted to EUR 49.2
million (EUR 57.0 million as at 30.6.2014), the “Liabilities to
credit institutions” amounted to EUR 2.6 million at the end of
the financial year (EUR 2.1 million as at 30.6.2014), due to the
minor importance of this type of refinancing in the financial year
2014/2015.