IFRS-COMPLIANT CONSOLIDATED FINANCIAL STATEMENTS

Transcription

1 IFRS-COMPLIANT CONSOLIDATED FINANCIAL STATEMENTS

2 2 Overview of the Raiffeisenlandesbank NÖ-Wien Group (IFRS Figures) Overview of the Raiffeisenlandesbank NÖ-Wien Group (IFRS Figures) Monetary values are in m /( ) Change Consolidated Income Statement Net interest income after impairment charge 79.4 (23.9%) Net fee and commission income 69.2 (3.7%) 71.9 Net trading income 4.9 (35.3%) 7.6 Profit from investments in entities accounted for using the equity method % 93.6 General administrative expenses (214.1) 12.1% (190.9) Profit for the year before tax >100% 16.8 Profit for the year (attributable to equity holders of the parent) >100% 22.5 Consolidated Balance Sheet Loans and advances to other banks 8,576 (14.6%) 10,042 Loans and advances to customers 11, % 10,465 Deposits from other banks 9,029 (28.6%) 12,643 Deposits from customers 8, % 8,090 Equity (incl. profit) 2,355 (2.8%) 2,422 Consolidated assets 29,070 (10.0%) 32,310 Regulatory information 2 Risk-weighted basis of assessment 11,845 (11.5%) 13,383 Total own funds 2, % 2,116 Own funds requirement 1,017 (10.7%) 1,138 Surplus own funds ratio 141.8% 56 ppt 85.9% Tier 1 ratio (credit risk) 12.5% 1.5 ppt 11.0% Tier 1 ratio (total) 11.6% 1.3 ppt 10.3% Total own funds ratio 19.3% 4.5 ppt 14.9% Performance Return on equity before tax 5.2% 4.5 ppt 0.7% Consolidated return on equity 6.1% 5.1 ppt 1.0% Consolidated cost:income ratio 54.5% (10.0 ppt) 64.5% Return on assets after tax 0.5% 0.4 ppt 0.1% Risk:earnings ratio 45.5% 10.4 ppt 35.1% Additional information Employees (full time equivalents) 1,273 (0.9%) 1,285 Branches and offices 57 (9) 66 Moody s ratings Financial Long-term Short-term Strength 1 ppt = percentage points. 2 Regulatory own funds are presented in the Consolidated Financial Statements of Raiffeisenlandesbank NÖ-Wien at the level of the individual institution. A2 P 1 D+

3 A. Consolidated Statement of Comprehensive Income 3 A. Consolidated Statement of Comprehensive Income Consolidated Income Statement 000 Notes Interest income (1) 569, ,785 Interest expenses (1) (423,720) (531,950) Net interest income (1) 145, ,835 Impairment allowance balance (2) (66,381) (56,445) Net interest income after impairment charge 79, ,390 Fee and commission income (3) 96,345 99,817 Fee and commission expenses (3) (27,175) (27,966) Net fee and commission income (3) 69,170 71,851 Net trading income (4) 4,898 7,574 Profit from investments in entities accounted for using the equity method (5) 153,411 93,599 Profit/(loss) from financial investments (6) 12,540 (31,968) General administrative expenses (7) (214,095) (190,944) Other operating profit/(loss) (8) 19,784 (37,664) Profit for the year before tax 125,103 16,838 Income tax (10) 20,294 5,660 Profit for the year before minority interests 145,397 22,498 Of which attributable to equity holders of the parent 145,399 22,505 Of which minority interests in profit (2) (7)

4 4 A. Consolidated Statement of Comprehensive Income Reconciliation to Consolidated Comprehensive Income 000 Attributable to Equity Holders of the Parent Minority Interests Attributable to Equity Holders of Minority Total the Parent Interests Total Profit for the period 145,399 (2) 145,397 22,505 (7) 22,498 Items that will not be reclassified to profit or loss in later periods 9, ,009 (20,466) 0 (20,466) Actuarial gains and losses on the revaluation of provisions for staff benefits 4, ,731 (18,342) 0 (18,342) Deferred taxes on items not reclassified to profit or loss 1, ,991 3, ,053 Enterprise s interest in other comprehensive income of entities accounted for using the equity method that are never to be reclassified 2, ,287 (5,178) 0 (5,178) Items that may be reclassified to profit or loss in later periods (144,592) 0 (144,592) 215, ,138 Cash flow hedge reserve 14, ,835 5, ,825 Of which unrealized gains and losses in the period 15, ,099 7, ,079 Of which gains and losses reclassified to the Income Statement (264) 0 (264) (1,254) 0 (1,254) Available-for-sale reserve 1, , , ,979 Of which unrealized gains and losses in the period 18, , , ,315 Of which gains and losses reclassified to the Income Statement (16,552) 0 (16,552) 31, ,664 Deferred taxes (4,540) 0 (4,540) (13,174) 0 (13,174) Of which unrealized gains and losses in the period (30,467) 0 (30,467) (9,764) 0 (9,764) Of which gains and losses reclassified to the Income Statement 25, ,928 (3,410) 0 (3,410) Enterprise s interest in other comprehensive income of entities accounted for using the equity method (after tax) (156,705) 0 (156,705) 85, ,507 Other comprehensive income (135,583) 0 (135,583) 194, ,672 Comprehensive income 9,815 (2) 9, ,177 (7) 217,170

5 B. Consolidated Balance Sheet 5 B. Consolidated Balance Sheet Assets, 000 Note(s) Cash and balances with the central bank (12) 404, ,031 Loans and advances to other banks (13, 32, 33) 8,575,731 10,042,074 Loans and advances to customers (14, 32, 33) 11,004,581 10,465,262 Impairment allowance balance (15, 33) (298,327) (318,678) Trading assets (16, 32, 33) 300, ,400 Securities and equity investments (17, 32, 33) 5,197,798 6,287,562 Investments in entities accounted for using the equity method 2,529,181 2,638,914 Intangible assets (18) 7,438 8,780 Property and equipment (19) 8,060 8,243 Other assets (20, 33) 1,340,577 1,977,729 Of which current tax assets Of which deferred tax assets 23,922 10,098 Total assets 29,070,193 32,310,317 Equity and Liabilities, 000 Note(s) Deposits from other banks (21, 32, 33) 9,029,012 12,643,370 Deposits from customers (22, 32, 33) 8,280,334 8,089,621 Liabilities evidenced by paper (23, 32, 33) 6,683,353 5,928,916 Trading liabilities (24, 32, 33) 194, ,068 Other liabilities (25, 33) 1,332,180 2,060,363 Provisions (26, 33) 166, ,658 Subordinated debt capital (27, 32, 33) 1,029, ,606 Total borrowed capital 26,715,267 29,888,602 Attributable to equity holders of the parent 2,354,871 2,421,659 Minority interests Equity (28) 2,354,925 2,421,715 Total equity and liabilities 29,070,193 32,310,317

6 6 C. Consolidated Statement of Changes in Equity C. Consolidated Statement of Changes in Equity 000 Subscribed Attributable to Equity Holders of the Parent Reserves Retained Earnings Non-voting Nonownership (Partizipationskapital) Consolidated Profit for the Year Total Minority Interests Total Equity at 1 January ,520 76, ,688 1,697, ,421, ,421,715 Comprehensive income (135,583) 145,399 9,815 (2) 9,814 Profit for the year , ,399 (2) 145,397 Other comprehensive income (135,583) 0 (135,583) 0 (135,583) Contractual profit transfer (60,008) (60,008) 0 (60,008) Transferred to retained earnings ,391 (85,391) Enterprise s interest in other changes in the equity of entities accounted for using the equity method (16,596) 0 (16,596) 0 (16,596) Equity at 31 December ,520 76, ,688 1,631, ,354, ,354,925

7 C. Consolidated Statement of Changes in Equity Subscribed Attributable to Equity Holders of the Parent Reserves Retained Earnings Non-voting Nonownership (Partizipationskapital) Consolidated Profit for the Year Total Minority Interests Total Equity at 1 January ,520 76, ,688 1,532, ,256, ,256,369 Comprehensive income ,672 22, ,177 ( 7) 217,170 Consolidated profit ,505 22,505 ( 7) 22,498 Other comprehensive income , , ,672 Contractual profit transfer ( 57,469) ( 57,469) 0 ( 57,469) Use of retained earnings ( 34,964) 34, Distributions ( 29) ( 29) Enterprise s interest in other changes in the equity of entities accounted for using the equity method , , ,674 Equity at 31 December ,520 76, ,688 1,697, ,421, ,421,715

8 8 D. Consolidated Cash Flow Statement D. Consolidated Cash Flow Statement 000 Note(s) Profit for the year after tax 145,397 22,498 Non-cash items in profit for the year and reconciliation to net cash from/(used in) operating activities: Write-downs/(write-ups) of property and equipment, financial investments and equity investments (7) 21,326 (32,346) Revaluation (gains)/losses on investments in entities accounted for using the equity method (5) (153,411) (93,599) Net creation of provisions and impairment allowances (2, 8) 47,771 30,331 (Gains)/losses on disposals of property and equipment, financial investments and equity investments (6, 8) (7,663) 69,831 Other adjustments (net) 25, ,630 Subtotal 78, ,345 Change in assets and liabilities arising from operating activities after corrections for non-cash items: Loans and advances to customers and other banks (13, 14) 918, ,165 Trading assets (16) 222,457 44,738 Securities (other than financial investments) (17) 984, ,739 Other assets (20) 602, ,745 Deposits from customers and other banks (21, 22) (3,433,770) (990,842) Liabilities evidenced by paper (23) 755,435 1,732,139 Trading liabilities (24) (106,755) (156,569) Other liabilities (25) (771,441) (512,847) Subtotal (750,044) 1,408,613 Interest and dividends received 602, ,893 Interest paid (502,263) (708,337) Income taxes paid (1,166) (54) Net cash from/(used in) operating activities (651,240) 1,563,115 Cash receipts from sales of: Financial investments and equity investments (6) 1,165, ,914 Property and equipment and intangible assets (8) Cash paid for: Financial investments and equity investments (17) (1,049,747) (1,624,134) Property and equipment and intangible assets (18, 19) (4,098) (5,506) Net cash from/(used in) investing activities 112,264 (882,626) Net inflows of subordinated debt capital (27) 322,096 3,181 Profit transfer, incl. service of non-voting non-ownership capital (Partizipationskapital) (57,469) (61,053) Net cash from/(used in) financing activities 264,627 (57,872)

9 D. Consolidated Cash Flow Statement Cash and cash equivalents at end of previous period 679,031 56,412 Net cash from/(used in) operating activities (651,240) 1,563,115 Net cash from/(used in) investing activities 112,264 (882,626) Net cash from/(used in) financing activities 264,627 (57,872) Effect of exchange rate changes (36) 2 Cash and cash equivalents at end of period 404, ,031 Cash and cash equivalents corresponds to Cash and balances with the central bank.

10 10 Impressum Information in the Internet: Raiffeisenlandesbank Niederösterreich-Wien AG s website provides detailed, up-to-date information about Raiffeisen at An electronic version of the 2013 Annual Report is also available in the Internet at Published by: Raiffeisenlandesbank Niederösterreich-Wien AG Friedrich-Wilhelm-Raiffeisen-Platz 1, A-1020 Vienna, Austria Phone: ; Fax: info@raiffeisenbank.at Publication Officer: Michaela Stefan-Friedl IFRS-compliant Consolidated Financial Statements: Editing and coordination: Overall Bank Management/Finance at Raiffeisenlandesbank NÖ-Wien AG Stefan Puhm and his team Typesetting: Produced in-house using FIRE.sys, Michael Konrad GmbH, Frankfurt Translated by Adrian Weisweiller BA (Oxon), MA (Oxon), London Copy deadline date: 17 April 2014 Enquiries should be addressed to Raiffeisenlandesbank NÖ-Wien AG s Public Relations Department at the above address. Note: The German versions of the complete IFRS-compliant Consolidated Financial Statements (including the Notes) and the Group Management Report are available as a PDF file in the Internet at The English translation of the complete German report will soon be available as a PDF file in the Internet at