Annual Report of Euram Bank 2019

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After deduction of operating expenses from operating income, accordingly, the operating result

for the 2019 fiscal year amounts to EUR 7.8 million (EUR 4.2 million as at 31/12/2018).

The income/expenditure balance from the sale and valuation of receivables and certain securities

was minus EUR 2.9 million (minus EUR 998.3 thousand as at 31/12/2018). In November 2019,

Euram Bank sold the receivable due from Maple Bank – the remaining need for impairment

amounted to EUR 1.2 million (taking into account the partial payments received already, Euram

Bank has been repaid a total EUR 7.4 million of its original receivable, which corresponds to a

ratio of 73%). The general impairment of various loans and advances to customers amounted to

EUR 1.7 million. The income/expenditure balance from the sale and valuation of financial assets

amounted to minus EUR 25.8 thousand (minus EUR 50.2 thousand as at 31/12/2018).

Hence, the result of ordinary operations for the fiscal year 2019 amounted to EUR 4.8 million

(EUR 3.3 million as at 31/12/2018).

Taxes on income and earnings amounted to EUR 1.1 million (EUR 867.3 thousand as at 31/12/2018).

The result shows income from deferred taxes in the amount of EUR 657.1 thousand

(EUR 242.2 thousand as at 31/12/2018) as well as an expenditure from distribution of the tax

burden in the amount of EUR 1.7 million (EUR 1.1 million as at 31/12/2018).

The annual surplus of the fiscal year 2019 accordingly amounted to EUR 3.8 million

(EUR 2.3 million as at 31/12/2018). Movements of reserves in the amount of EUR 3.8 million

were effected in the 2019 fiscal year (EUR 2.3 million as at 31/12/2018) – the resulting profit

for the year amounted to EUR 7 thousand (EUR 5 thousand as at 31/12/2018).

Taking account of the profit carried forward of EUR 0.3 million, the net profit of the fiscal year

2019 amounts to EUR 0.3 million (EUR 0.3 million as at 31/12/2018).

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