GB00_erste lage_E - Erste Group

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MANAGEMENT REPORT AND FINANCIAL REVIEW Structure/growth of operating income (in EUR million) 1,172.2 1,172.3 (0.0%) 11% 26% 63% 10% 27% 63% 1,474.7 (+25.8%) 1998 1999 2000 w/ ČS Net interest income Net interest income (comprising interest in the strict sense of the term, similar income and expenses and income from equity holdings including the prorated share in the earnings of associates) grew by 25.5% and even the adjusted figure showed a rise of 5.2%. Positive developments at Erste Bank AG played a crucial role in this growth with international business making a particularly strong contribution. Due to strong expansion of interbank business and the acquisition of Česká spořitelna, a.s. as per August 2000, average total assets totalled EUR 61.6 billion, which is a significant increase from the previous year’s EUR 54.8 billion. Although the interest margin for the Group as a whole did improve from 1.34% to 1.5% yearon-year, when adjusted for Česká spořitelna, a.s., which has a much higher interest margin than the rest of the Group, the figure for 2000 remains virtually unchanged at 1.36%. The reduction in the relative margin caused by the expansion of low-margin interbank business was, however, offset by the improvement in net interest income in absolute terms. Net commission income For a number of years now the Group has been posting double-digit increases in net commission income (adjusted for the branch transfers in 1999 and 2000) and last year was no exception. The consolidation of Česká spořitelna, a.s. paved the way for an especially big jump of 31.3% to EUR 423.4 million and the adjusted figure was still in the double-digit range at 10.3%. Fee and commission income from securities and payment transactions reported a particularly sharp adjusted increase, while income from insurance business was on the decline. 14 Erste Bank 2000 9% 29% 62% 1,240.6 (+5.8%) 2000 w/o ČS (pro forma) 9% 29% 62% ❚ Net interest income ❚ Net commission income ❚ Net trading result
❚ Securities transactions ❚ Building society and other business ❚ Lending business ❚ Payment transfers ❚ Insurance business ❚ ABSA (in EUR million) ▲ Success rate ■ Interest margin Structure and growth of net commission income (in EUR million) 306.5 322.4 (+5.2%) 7% 15% 11% 22% 45% 1998 1999 2000 w/ ČS Net trading result The net trading result consists of gains and losses from securities transactions, interest rate and equity derivatives and foreign exchange instruments. This item also includes interest and dividend income on trading positions and interest expenses from funding these positions. In 2000 the net trading result rose 12%, although when adjusted for the effects of the acquisition of Česká spořitelna, a.s. the result remained around the previous year’s level. The following chart shows the trend in average balance sheet assets and interest margin (net interest income as a percentage of average balance sheet assets) and the rate of market result (operating income as a percentage of average balance sheet assets): Interest margin and rate of market result in % of average balance sheet assets 2.21% 53,071 ▲ ▲ 1.38% ■ ■ 2.14% 1.34% 8% 15% 11% 22% 44% 54,840 423.4 (+31.3%) 1998 1999 2000 w/ ČS Erste Bank 2000 15 ▲ ■ 2.39% 1.50% 5% 24% 13% 16% 42% 49% 61,606 355.5 (+10.3%) 2000 w/o ČS (pro forma) ▲ ■ 2.18% 1.36% 2000 w/o ČS (pro forma) 6% 16% 10% 19% 56,831
Page 1 and 2: The leading financial services prov
Page 3 and 4: Key figures of Erste Bank share 200
Page 5 and 6: 2000 Annual Report We are Erste Ban
Page 7 and 8: September ❚ The 24 Styrian branch
Page 9 and 10: from left to right Franz Hochstrass
Page 11 and 12: The third factor, the effectiveness
Page 13 and 14: ution channels. The complete classi
Page 15 and 16: ❚ Operating income ❚ General ad
Page 17: ❚ Net interest income ❚ Net com
Page 21 and 22: greater, since some of the staff cu
Page 23 and 24: ▲ Cost-income ratio ■ ROE ❚ L
Page 25 and 26: ❚ Amounts owed to credit institut
Page 27 and 28: ▲ Solvency ratio ■ Core capital
Page 29 and 30: Results by business segment The act
Page 31 and 32: Retail and Real Estate
Page 33 and 34: Innovative advisory tools now also
Page 35 and 36: Volume has risen further The market
Page 37 and 38: Strong, united identity conveyed by
Page 39 and 40: Holdings of Erste Bank in Central E
Page 41 and 42: Erste Bank— a seal of quality Hun
Page 43 and 44: Asset Gathering
Page 45 and 46: Erste Bank in the top tier of asset
Page 47 and 48: Strong rise in insurance premium in
Page 49 and 50: The Large Corporate Customers segme
Page 51 and 52: Positive trend in International Bus
Page 53 and 54: Domestic credit risk by sectors A g
Page 55 and 56: Foreign credit risk by sectors Inte
Page 57 and 58: As a supplement to the general cred
Page 59 and 60: The Trading and Investment Banking
Page 61 and 62: However, lower income from trading
Page 63 and 64: Corporate Centre
Page 65 and 66: Harmonisation of EDP systems enhanc
Page 67 and 68: Leading-edge technology for Erste B
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2000 Consolidated Financial Stateme
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II. Group Income Statement of Erste
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IV. Cash Flow Statement in EUR Mio
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During the reporting period 52.07%
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Scope of Consolidation The impact o
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While the agreement is in force (un
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Principles of Consolidation Account
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All realised and unrealised gains f
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In the case of operating leases (in
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13) Loans and advances to credit in
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17) Investments available for sale
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20) Other assets in EUR million 200
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a) Employee benefits Total provisio
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lower limits defined above, a gradu
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As all own shares held in the Compa
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The above figures do not include th
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In addition to the above-mentioned
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Sundry operating expenses are compr
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37) Segment reporting The aim of se
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Asset Gathering Corporate Center To
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38) Additional information Assets a
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Organisation of risk management at
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Risks at Erste Bank Market risk Flu
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In March 2000 Erste Bank launched a
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Open fixed-income positions not att
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Nominal amount by remaining maturit
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Česká spořitelna, a.s. is the de
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Delegated by the Employee Council G
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Percentage Investment Net Fin. stat
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Percentage Investment Net Fin. stat
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Trading assets All trading assets a
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Other operating results This item i
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It is our conviction that the Finan
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Report of Supervisory Board During
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Prague Hlavní nádrazí (Central R
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Erste Bank share is included in fol
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GB00_erste lage_E - Erste Group

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