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The business development in the two divisions <strong>of</strong> “Private <strong>Bank</strong>ing / Real Estate Financing” and<br />
“Asset Management” was highly satisfying in the past fiscal year. In the Private <strong>Bank</strong>ing / Real<br />
Estate Financing division, lombard and real estate financing were still in demand in the <strong>2019</strong><br />
fiscal year, apart from checking accounts, investments in mutual funds, stocks and bonds as well<br />
as payment transactions; additionally, repurchase transactions were concluded with selected<br />
customers. Accordingly, in this division, the budget targets for the <strong>2019</strong> fiscal year were again clearly<br />
exceeded. Based on the conservative investment approach that has been pursued for years<br />
now, the Asset Management division managed again to achieve a positive performance<br />
<strong>of</strong> <strong>Euram</strong> <strong>Bank</strong>’s mutual funds.<br />
As at 31 December <strong>2019</strong>, the total assets <strong>of</strong> <strong>Euram</strong> <strong>Bank</strong> amounted to EUR 458.1 million, thus<br />
exceeding the previous year’s figure (EUR 324.4 million as at 31/12/2018) by EUR 133.7 million<br />
or 41.2%. The individual items have developed as follows:<br />
Cash reserves decreased by EUR 2.8 million to EUR 87.6 million (EUR 90.4 million as at<br />
31/12/2018), debt instruments issued by public authorities decreased by EUR 2.2 million to<br />
EUR 32.6 million (EUR 34.8 million as at 31/12/2018). Loans and advances to credit institutions<br />
increased by EUR 6.4 million to EUR 28.6 million (EUR 22.2 million as at 31/12/2018). Loans<br />
and advances to customers increased by 23.7% or EUR 23.8 million to EUR 148.0 million<br />
(EUR 124.2 million as at 31/12/2018). The increase was mainly due to the conclusion <strong>of</strong> repurchase<br />
transactions. Bonds and other fixed-interest securities increased by EUR 105.9 million to<br />
EUR 153.3 million (EUR 47.4 million as at 31/12/2018). The increase is due to the buildup <strong>of</strong><br />
unencumbered high-quality liquid assets (HQLA). Stocks and other non-fixed interest securities<br />
decreased only slightly by 0.4 million to EUR 2.6 million (EUR 3 million as at 31/12/2018). The item<br />
“shares in affiliated companies” remained unchanged at EUR 159 thousand (EUR 159 thousand<br />
as at 31/12/2018). Other assets increased by EUR 1.0 million to EUR 2.2 million (EUR 1.2 million<br />
as at 31/12/2018). Deferred taxes amounted to EUR 1.0 million (EUR 0.2 million as at 31/12/2018).<br />
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