Annual Report of Euram Bank Vienna 2012/2013

Participations
Besides the investment in the deposit guarantee
scheme (“Einlagensicherung der
Banken und Bankiers GmbH”), Vienna,
this item includes shares held in trust in
three (June 30, 2012: five) entities in the
amount of EUR 1.9 million (June 30, 2012:
EUR 33.5 million). In the fiscal year
2012/2013, the trust investments in
E.S.B.C., a.s. (EUR 3.1 million) and in Invecture
Group, S.A. DE C.V. (EUR 28.5 million)
were terminated.
Property, Plant and Equipment
Intangible fixed assets as well as property,
plant and equipment are valued at cost less
regular depreciation. Low-value items are
fully depreciated in the year of acquisition.
Regular depreciation is made on a straightline
basis.
Regular depreciation is based on the following
useful lives:
Company cars
Office furniture
Leasehold improvements
Office equipment
Software
Hardware
8 years
5 years
5 years
5 years
5 years
5 years
Accruals for Severance Payments
Accruals for severance payments are calculated
according to principles of financial
mathematics by applying an interest rate
of 4% and on the basis of an arithmetical
pension age of 60 years for women and 65
years for men. A fluctuation discount is
not applied.
Contingent Liabilities
Contingent liabilities contain financing
guarantees collateralized by securities or
by cash in the amount of EUR 0.2 million
(June 30, 2012: EUR 0.3 million), one noncollateralized
financing guarantee of EUR
0.6 million (June 30, 2012: EUR 0.6 million)
and guarantees to credit card companies
for the credit card limits granted to
Euram Bank customers in the amount of
EUR 2.6 million (June 30, 2012: EUR 3.0
million).
Credit Risks
This item includes undrawn credit facilities
of EUR 2.5 million (June 30, 2012: EUR 2.6
million).