Annual Report of Euram Bank 2019

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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