Annual Report of Euram Bank 2019

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A N N U A L R E P O R T 2 0 1 9 Shares in affiliated companies Euram Bank has a 100% holding in Euram Invest Holdings 3 GmbH headquartered in Munich, Germany (line of business of the GmbH: management of participations). In the fiscal year 2019, as already in fiscal year 2018, no dividends were distributed to Euram Bank. Pursuant to section 238 (2) of the UGB (Austrian Business Code), the equity and results of the last fiscal year of the affiliated undertakings are as follows: Euram Invest Holdings 3 GmbH in EUR thousand Capital 597.9 Share of capital 100% Result last FY 3.7 Participating interests This item includes the share in the deposit guarantee fund of Banken und Bankiers Gesellschaft m.b.H. in Liqu., Vienna, in the amount of EUR 70.0 (EUR 70.0 as at 31/12/2018) as well as the share in Einlagensicherung AUSTRIA Ges.m.b.H., Vienna, in the amount of EUR 1.0 thousand (EUR 1.0 thousand as at 31/12/2018). Intangible and tangible assets Fixed intangible and tangible assets are measured at cost of acquisition or production, less scheduled depreciation. Low-value assets are capitalized and written off in full in the year of acquisition. Assets are depreciated on a straight-line basis. The following useful life is assumed for the purposes of scheduled depreciation: Company motor vehicles Office equipment Fixtures Office machines Software Hardware 8 years 5 years 5 years 5 years 5 years 5 years Under applicable tax regulations, a full year’s depreciation for acquisitions in the first half of the year, and half a year’s depreciation for acquisitions in the second half of the year are effected. 38
Severance pay obligations The provision for severance payments is determined according to actuarial principles using an interest rate of 2.72% (previous year: 3.21%) and on the basis of a calculatory retirement age of 60 years for women and 65 years for men. No staff turnover deduction is determined. For the fiscal year 2019, Euram Bank AG used the discount rate announced by Deutsche Bundesbank (10-year average), with a residual term of 15 years (2.72%). The interest rate selected and its calculation shall continuously be applied from now on. Other provisions In the other provisions, in accordance with the principle of prudence, all risks discernible as well as liabilities uncertain in terms of amount and on the merits at the time of preparation of the balance sheet are accounted for in amounts that will be required according to reasonable commercial judgement. Liabilities Liabilities are recognized at the repayment amount including deferred interest. Contingent liabilities Contingent liabilities include financing guarantees granted and secured by credit institutions, securities, mortgages or in cash in the amount of EUR 0.1 million (EUR 0.1 million as at 31/12/2018). In the fiscal year 2019, no unsecured financing guarantee was granted (31/12/2018: none). Credit risks This position includes the amount of unused credit facilities in the amount of EUR 7.8 million (EUR 2.1 million as at 31/12/2018), as well as guarantees towards credit card companies for credit lines granted to Euram Bank customers in the amount of EUR 1.7 million (EUR 1.5 million as at 31/12/2018). Fiduciary receivables Fiduciary receivables are contained in the following items: – Shares and other non-fixed interest securities: EUR 0.0 thousand (31/12/2018: EUR 0.0 thousand) Fiduciary liabilities Fiduciary liabilities are contained in the following items: – Securitized liabilities: EUR 0.0 thousand (31/12/2018: EUR 0.0 thousand) 39
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Annual Report of Euram Bank 2019

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