Annual Report Euram Bank AG 2014 / 2015

eurambank

NOTES

to the annual accounts of European American

Investment Bank Aktiengesellschaft

(“Euram Bank”) for the year ending 30

June 2015.

The principle of itemised valuation was

applied for the valuation of the assets and

liabilities, on the assumption of a going

concern.

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The annual accounts for the year ending

30 June 2015 were prepared in accordance

with the regulations of the Accounting

Act, taking account of the special requirements

of the Banking Act.

The principle of prudence was observed

by reporting only profits realised on the

reporting date, and recognising all discernible

risks and impending losses in the

balance sheet.

1. General principles and information

on accounting and valuation

General principles

The annual accounts for the year ending

30 June 2015 are prepared in compliance

with generally accepted accounting principles,

and with the general standard of

conveying a true and fair view of the company’s

assets, financial situation and results

of operation.

Under the provisions of section 9 of the

Corporate Income Tax Act (KStG) relating

to group taxation, a corporate group exists

as at 30.06.2015 comprising Euram Holding

AG as group parent and Euram Bank

as group member. The tax sharing agreements

stipulate the stand-alone method.

The bank is organized as a stock corporation.

Euram Bank is wholly owned by Euram

Holding AG.

The principle of completeness and accounting

continuity was observed in preparing

the annual accounts. With respect

to accounting consistency, the option

to account for deferred tax assets under

section 198 (10) Austrian Business Code

(UGB) was newly exercised in the financial

year 2014/15, and a deferred tax asset

was itemised for the first time.

Foreign currency amounts

Foreign currency amounts are translated

at the middle rates set on the reporting

date, in accordance with section 58 (1)

Banking Act.

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