20 05 Quarterly Report 3

Transcription

1 20 Quarterly Report 3

2 Qualitative growth continues in 20 Over the past few decades, Raiffeisenlandesbank Oberösterreich Aktiengesellschaft has evolved in an excellent manner and has been able to exert a positive influence on many aspects of Upper Austrian life. Moreover, according to the journal, The Banker, Austria s strongest regional bank has constantly demonstrated a focus on continuous development. The result is quality growth, which is reflected both by the equity base and the balance sheet total. Furthermore, the current year 20 also demonstrates a highly positive trend. Successful development The Raiffeisenlandesbank Oberösterreich operating result is again set to rise by around 10 % and equity-ratios will also show further improvement. In addition, the constant focus on low costs was maintained. Local financing in China As a consequence, customers can be offered a very special service, as in China foreign banks have very limited access to loans in local currency. Tightly-knit co-operation network With its teamwork with the Industrial and Commercial Bank of China, Raiffeisenlandesbank Oberösterreich has taken a further step towards its goal of providing customers with professional banking services on an international basis. The bank s global co-operation network already incorporates 1,453 correspondent banks, including the strongest financial institutions in Frankfurt, London, Hong Kong, Singapore and New York. As a consequence, the cost-income ratio (CIR), the ratio of expenditure to revenues, for the current year will stand at around 50 %. This means that only one half of revenues are required to cover costs. High risk-bearing capacity The significant reduction in the CIR has led to a massive increase in Raiffeisenlandesbank Oberösterreich riskbearing capacity. The bank disposes of exceptional room for financial manoeuvre and can therefore offer its customers effective support for their business projects. Powerful antennae for the global markets As Austria s strongest regional bank, Raiffeisenlandesbank Oberösterreich also has its antennae directed towards global markets, where it works with the world s most powerful banks. Raiffeisenlandesbank Oberösterreich recently became the first European bank to conclude a local finance co-operation agreement with the Industrial and Commercial Bank of China (ICBC), the largest banking institute in the PRC. Apart from the Raiffeisen branch in Peking, this agreement also makes ICBC s 24,000 branches available to European customers for their activities in China. From r. to l.: Ludwig Scharinger, Chairman, Raiffeisenlandesbank Oberösterreich Danmei Chen-Moltas, Asia specialist, Raiffeisenlandesbank Oberösterreich Song Lixin, General Manager, ICBC Frankfurt Quarterly Report

3 Balance sheet as at September 30, 20 FINANCIAL ENGINEERING Raiffeisenlandesbank Oberösterreich is a powerful partner to business and industry Successful companies need inventive financing that matches their dynamic development. Therefore, Raiffeisenlandesbank Oberösterreich supports its customers with modern financial engineering involving a perfect interplay between different financial services. Tailor-made financing by means of financial engineering Within the scope of its financial engineering, Raiffeisenlandesbank Oberösterreich considers all the prevailing conditions and thus facilitates targeted solutions. Instruments such as risk and partner capital, corporate bonds, PPP models, leasing, factoring, cash management and real estate solutions, insurance, interest and foreign currency hedging are all employed. These modules are combined in accordance with individual requirements. Corporate bonds of growing importance Corporate bonds represent an increasingly significant aspect of financial engineering. Raiffeisenlandesbank Oberösterreich has already played a leading role in the floating of corporate bonds by companies such as KTM, FACC, TGW, Neuson, Greiner Packaging, VIVATIS, Asamer & Hufnagl Holding, etc. All in all, a volume of EUR 135 million has been placed. ASSETS (in EUR m) (in EUR m) 1. Public sector debt issues Loans to banks 4,107 4, Loans to customers 7,655 6, Bonds and other fixed interest securities 1, Funds, shares and other non-fixed interest securities 1,123 1,1 6. Investments Shares in affiliated companies Other assets Total assets 15,279 14,184 LIABILITIES (in EUR m) (in EUR m) 1. Liabilities to banks 7,448 7,4 2. Liabilities to customers 2,694 2, Certificated liabilities 2,729 2, Provisions Subordinated liabilities Supplementary capital 1, Subscribed capital Reserves Liabilities reserve Other liabilities Total liabilities 15,279 14,184 Quarterly Report

4 Profit and loss account PROFIT AND LOSS ACCOUNT (in TEUR) (in TEUR) 1. Interest and similar income 347, , Interest and similar expenses -261, ,340 I. Net interest income 85,540 75, Income from securities and investments 66,950 63, Income from commission 31,377 28, Income/expenses from financial business 6,511 6, Other operation income 15,955 13,734 II. Operating income 206, , General administrative expenses -86,433-82,470 -Personnel expenses -47,977-45,352 -Other administrative expenses -38,456-37, Value adjustments on fixed assets -2,837-3, Other operating expenses -13,291-11,750 III. Operating expenses -102,561-97,228 IV. Operating result 103,772 90,675 KEY BALANCE SHEET FIGURES Ø Customer loans / Ø Balance sheet total (in %) Ø Customer loans / Ø Customer liabilities (in %) Ø Customer loans / Ø Customer liabilities + certificated liabilities (in %) Core capital (Tier 1) (in EUR m) 9 9 Core capital co-efficient (Tier 1-ratio) (in %) Equity according to Austrian Banking Act (Tier 2) (in EUR m) 1,716 1,676 Equity co-efficient (Tier 2-ratio) (in %) Cost-income ratio (in %) Quarterly Report

5 Notes on the course of business In the third quarter of 20, Raiffeisenlandesbank Oberösterreich Aktiengesellschaft and the entire Raiffeisen Banking Group Upper Austria were able to maintain their satisfactory development. Up to now, budget targets have been fulfilled in their entirety as a result of a systematic customer orientation. As at September 30, 20, Raiffeisenlandesbank Oberösterreich could point to a balance sheet total of EUR 15.3 billion, which represented a EUR 1.1 billion, or 7.7 %, increase, since the beginning of the year (entire banking group: EUR 37.1 billion; %). Monetary capital formation in the Raiffeisen Banking Group Upper Austria In the first three quarters of 20, Raiffeisen Banking Group Upper Austria monetary capital formation went up by 10.6 % to EUR 29.8 billion. Customer securities showed aboveaverage growth and in the first nine months of the year, their market value rose by 18.9 % to EUR 14.3 billion. Raiffeisenlandesbank Oberösterreich liabilities to customers also increased considerably, climbing by 9.9 % to EUR 2.7 billion, while since the beginning of the year, certificated liabilities rose by 10.7 % to EUR 2.7 billion. The comparatively excellent equity base situation was further enhanced by supplementary capital of EUR 0.1 billion. Balance sheet Change development (in EUR bn) (in EUR bn) (in %) Raiffeisenlandesbank Oberösterreich 15, ,7 Raiffeisen Banking Group Upper Austria 27, ,8 Entire banking group* 37, ,9 *incl. Oberösterreichische Landesbank AG-Hypo und Salzburger Landes-Hypothekenbank AG Financing performance of the Raiffeisen Banking Group Upper Austria Special value continues to be attached to qualitative growth and systematic risk management. During the nine months of 20, the financing performance of the Raiffeisen Banking Group Upper Austria improved by 8.6 % to a value of EUR 16.0 billion. As at September 30, 20, Raiffeisenlandesbank Oberösterreich loans to customers were up by EUR 0.9 billion, or 12.8 %, at EUR 7.7 billion. Profit and loss account Despite sluggishness in the economy, the Raiffeisenlandesbank Oberösterreich operating result in the first three quarters of 20 was considerably higher than the comparable figure for 2004, amounting to EUR million. This corresponds with an increase of 14.4 % over the same period of last year. A 13.1 % rise in net interest earnings as compared with 2004 was also most satisfactory. In the first nine months of 20, operative earnings again outstripped expenses. Consequently, the costincome ratio was again improved to around 50 %. The forecasts for the fourth quarter of 20 also point to the fact that the successful development of preceding years will not only be continued, but accelerated. As a result, solid equity formation can be anticipated. As at September 30, 20, the core capital ratio amounted to 8.84 % and the equity co-efficient to %, which means that the required statutory levels of 4 % and 8 % respectively, were exceeded by far Total Total Total Total (in EUR m) 14,776 (in EUR m) 16,048 (in EUR m) 26,938 (in EUR m) 29,790 Short-term investment loans 6,159 Short-term investment loans 6,523 Own issues and securities under custody 11,998 Own issues and securities under custody 14,266 Long-term investment loans 7,182 Long-term investment loans 7,968 Primary deposits Primary deposits 12,317 Corporate Bonds 432 Building society loans 1,003 Corporate Bonds 537 Building society loans 1,020 Building society deposits 1,497 Surrender value of insurance policies 1,562 Building society deposits 1,501 Surrender value of insurance policies 1,706

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