Annual Report Abridged version. Abridged version. Annual Report sparkasse-pforzheim-calw.de

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1 Abridged version Annual Report 2014 Abridged version Annual Report sparkasse-pforzheim-calw.de

2 The Northern Black Forest Region, Germany Sparkasse Pforzheim Calw s core market is located between the metropolitan centers of Stuttgart and Karlsruhe in the South Western part of Germany. This location, which also boasts particularly good transport connections (motorways, proximity of the airports in Stuttgart and Karlsruhe/Baden-Baden), makes it attractive for companies to settle in the region. More than 480,000 people live in the catchment area. characterized by: Mechanical engineering and precision tool engineering, including punched and turned parts technology, components supply for the automotive industry, information technology and plastics technology 75% of German jewelry is manufactured in this region Production center for almost half of all clocks and watches Made in Germany Medical, dental and surface technology Mail order and printing Spas, tourism and gastronomy Forestry, timber, agriculture and wine-making Numerous companies act as important suppliers in the economic regions of Stuttgart and Karlsruhe and are represented worldwide with a high export share. Alongside traditional production processes, high-tech industries are increasingly conquering the market. Product innovations and the use of the latest production technologies secure companies competitiveness in Germany and abroad. The region is experiencing a further increase in attractiveness through the Neue Messe Stuttgart exhibition center. There is a broad range of universities and centers of further education, with notable examples including: Pforzheim Technical Colleges for Jewellery and Watches Pforzheim University for Design, Engineering, Business and Law, which holds a leading position in Europe in transportation design SRH Calw University of Applied Sciences LDT Nagold Academy of Fashion Business, Management and Marketing IHL Liebenzell University of Applied Sciences History of Sparkasse Pforzheim Calw Sparkasse Pforzheim Calw was founded on 1 January 2003 following the merger of Stadt+Kreis-SPARKASSE PFORZHEIM and Kreissparkasse Calw. The bank s origins date back to 1834, when Städtische Sparkasse Pforzheim was founded. Kreissparkasse Calw was established in Both Sparkassen (savings banks) developed successfully and evolved into banks created a Sparkasse that is well equipped to meet the challenges of the future. Company prof ile Sparkasse Pforzheim Calw is one of the major Sparkassen in Germany Number 10 out of a total of 396 and is the largest in Baden-Württemberg. The balance sheet total as at 31 December 2016 amounted to 11.1 billion. The business volume (balance sheet total and contingent liabilities) stood at 11.9 billion. It operates via a modern network of branches in its business area. Sparkasse Pforzheim Calw s corporate philosophy is anchored in its corporate guidelines, comprising the mission statement, employee guidelines and management guidelines. These are embodied in the Sparkasse Pforzheim Calw With heart and hand motto and represent the aims of the Sparkasse and the values adopted by its employees. Each of the three guidelines supports the employees with a consistent focus on forward-looking action. Their values are security, reliability, trustworthiness vities. As a leading bank in the region, Sparkasse Pforzheim Calw is a strong pillar for the economy and the people in the region: it is an employer, client, investor and tax payer. Sparkasse Pforzheim Calw public, the corporate sector, small and medium-sized companies and the public sector. More than 330,000 customers and over 15,000 businesses, tradespeople and self-employed persons rely on the bank s skills. With almost 2,000 employees, Sparkasse Pforzheim Calw is one of the largest employers in the region. The Top National Employer award bestowed by 2

3 Sparkasse Pforzheim Calw s human resources work. With the highest number of apprentices in the Northern Black Forest region, it largely covers its own personnel requirements from within its own ranks. The Sparkasse has been awarded the Excellent Training Company quality seal by the Chamber of Commerce and Industry of the Northern Black Forest in recognition of the high quality of its training. Occupational health management is just as impor- models. A good work-life balance is particularly important for Sparkasse Pforzheim Calw. Sparkasse Pforzheim Calw pursues a consistently sustainable business policy. For example, it pays particular attention to the conscious conservation of the environment and resources. When refurbishing or constructing new buildings, it insists on energy- ergies. It offers products in both deposit and lending ecological investment projects in the region. It is also committed to barrier-free banking. 47 branches have meanwhile been awarded the senior friendly service from the Senior Citizens Council of the State of Baden-Württemberg, in recognition of their efforts to take account of the banking needs of the elderly. services provided by the international business department. In 2016, its competent employees assisted the region s companies with export business worth more than 983 million and with import business of almost 580 million. Sparkasse Pforzheim Calw is committed to providing consistently high-quality products and services tailored to its customers needs. As in all other sectors, it offers its services competently and professionally based on many years of experience. Experience is often worth its weight in gold. Good connections and established business relations are particularly crucial in foreign business to ensure secure payments and execution of transactions. This calls for extensive skills and knowledge of the international markets. Sparkasse Pforzheim Calw services address all aspects of international business. It demonstrates particular strength in the guarantee business, interest rate and currency hedging as well Legal position sector bank with a custodial function status, which acts as the joint savings bank for the City of Pforzheim, the Enz District and the District of Calw. The STADT+KREISSPARKASSE PFORZHEIM ENZKREIS CALW joint savings bank is liable for the obligations of the Sparkasse Pforzheim Calw up until 18 July As of this date, the Sparkasse is liable with its own assets. The Sparkasse is a member of the Deutsche Sparkassen-Finanzgruppe (German Savings Bank Finance Group). Your partner in foreign trade As one of Germany s major Sparkassen, Sparkasse Pforzheim Calw assists its customers worldwide with specialists offer its customers modern instruments to help them hedge country, credit rating, payment, interest rate and currency risks. An in-house team of specialists and some 800 correspondent banks around the world are available to provide assistance. 3

4 Balance sheet as at 31 December 2016 (not in the legally required format) Assets EUR EUR EUR EUR thousand 31 Dec Cash reserves a) Cash in hand ,031, ,638 b) Credit balance with the Deutsche Bundesbank... 61,081, , ,112, ,409 a) Treasury bills and discounted treasury notes.... b) Bills of exchange..... a) Due daily... 71,168, ,205 b) Other receivables ,752, , ,921, , ,418,450, ,082,385 Secured by mortgages... EUR 3,248,430, ,106,003 Local authority loans... EUR 487,046, ,532 a) Commercial papers aa) From public issuers.... Eligible as collateral with the Deutsche Bundesbank... EUR. ab) From other issuers... 3,000, ,003 Eligible as collateral with the Deutsche Bundesbank... EUR. 190,000 3,000, ,003 b) Bonds and debenture bonds ba) From public issuers ,772, ,879 Eligible as collateral with the Deutsche Bundesbank... EUR 336,790, ,313 bb) From other issuers... 1,949,594, ,723,779 Eligible as collateral with the Deutsche Bundesbank... EUR 1,665,412, ,432,399 2,376,367, ,180,658 c) Own bonds... 4,199, ,544 Nominal amount... EUR 4,326, ,669 2,383,566, ,377, ,115, ,590 Own participating rights... EUR. Nominal amount... EUR. 6a ,764, , ,172, ,228 In banks...eur 2,151, ,151 In f inancial service providers... EUR 24,283, ,284 46,775, ,230 In banks... EUR. In f inancial service providers... EUR. 15,242, ,431 Trust loans... EUR 15,242, , a) Self-created industrial property rights and similar rights and values. b) Purchased concessions, industrial property rights and similar rights and values and licences to these rights and values , c) Goodwill.... d) Prepayments made , ,812, , Other assets... 36,204, , ,532, ,338 11,065,639, ,786,328 4

5 EUR EUR EUR EUR thousand 31 Dec a) Due daily ,584, ,490 b) With agreed term or notice period... 1,869,601, ,490,826 2,076,185, ,251,315 a) Savings accounts aa) With agreed notice period of three months... 1,743,656, ,717,012 ab) With agreed notice period of more than three months ,570, ,578 2,037,227, ,099,590 b) Other liabilities ba) Due daily... 4,844,392, ,227,923 bb) With agreed term or notice period ,913, ,168 5,461,306, ,838,091 7,498,533, ,937,681 a) Bonds issued ,024, ,330 b) Other securitised liabilities.... Commercial papers... EUR. Own bills of acceptance and promissory notes outstanding... EUR. 402,024, , ,289, , ,242, ,431 Trust loans... EUR 15,242, , ,928, , ,541, , Provisions a) Provisions for old-age pensions and similar liabilities... 33,232, ,988 b) Tax provisions... 10,725, ,952 c) Other provisions... 69,499, , ,456, , ,630, ,632 19,564, ,564 Due within two years... EUR. 162,620, ,500 Special items according to s. 340e para. 4 HGB...EUR 2,620, ,500 a) Subscribed capital... 5,298, ,298 b) Capital reserve.... c) Revenue reserves ca) Security reserve ,324, , ,324, ,324 d) Balance sheet prof it... 15,000, , ,622, ,623 11,065,639, ,786,328 a) Contingent liabilities from charged bills of exchange issued.... b) Liabilities from bank sureties and guarantee agreements ,142, ,667 c) Liability from provision of securities for third-party liabilities ,142, ,667 a) Repurchase obligations from reverse repurchasing agreements.... b) Placing and acquisition obligations.... c) Irreversible credit commitments ,585, , ,585, ,185 5

6 Income Statement for the period from 01 January to 31 December 2016 EUR EUR EUR EUR thousand 1 Jan Dec a) Credit and money market transactions ,800, ,713 b) Fixed-income securities and debt register claims... 22,905, , ,706, , ,933, ,710 interest accrued on provisions...eur 2,413, , ,772, ,467 a) Shares and other variable income securities... 5,351, ,050 b) Equity investments... 7,850, ,498 c) Shares in aff iliated companies ,201, , , ,602, , ,778, ,322 60,823, , ,051, ,414 Transfers to the fund for general banking risks... EUR 120, ,390, ,023 From foreign currency translations... EUR 12,600, , ,362, ,869 a) Personnel expenditure aa) Salaries and wages... 80,134, ,864 ab) Social charges and expenditure for old-age pension provision and support, including:... 22,663, ,777 for old-age pension provision... EUR 7,759, , ,797, ,641 b) Other administrative expenditure... 49,873, , ,670, ,837 13,871, , ,413, ,948 From foreign currency conversions... EUR 12,085, , ,153, ,561 2,153, , ,717, ,717, ,196, , ,000, , ,645, , ,791, , , ,221, , , ,000, , ,000, ,000 a) From contingent reserves.... b) From other reserves ,000, ,000 a) To contingent reserves.... b) To other reserves ,000, ,000 6

7 Open for change a driving force for the region Sparkasse Pforzheim Calw has been living its business policy for more than 180 years. It owes its success to a philosophy that includes sustainability, commitment to ethical principles and a focus on long-term customer relationships. The essence of its long-standing experience is its close proximity to the people and it takes on responsibility for the common good and supports social, sporting, cultural and arts events. Tax payments, investments and the purchasing power and communities of the region. Needless to say, this helps to strengthen the local economy. As the leading bank in the region, Sparkasse Pforzheim Calw succeeded in consolidating its position time, total assets rose by 2.6 % to 11.1 billion, driv- before risk provisioning came to 85.8 million. Loans to customers rose by 4.6 % over the previous year to 7.7 billion, with loan commitments unchanged from the previous year at 1.6 billion. In this way, Sparkasse Pforzheim Calw was able to support the region s economic growth last year. Retail customer deposits carried on the balance sheet climbed to a total of around almost 6.0 billion in 2016, equivalent to growth of 7.8 % over the previous year. Sparkasse Pforzheim Calw also has a strong position in home savings business, backed by its partner Landesbausparkasse Südwest. A total of 4,200 new home savings contracts were arranged with a total value of more than 189 million. The home loan savings business model enjoys an enduring appeal thanks to the strong commitment of the Sparkassen customers to home loan savings. Traditionally, Sparkasse Pforzheim Calw is a competent and potent partner in the precious metals business. More than 10 tones of gold and 113 tonnes of silver were transacted in This is attributable to stitutional and retail investors for alternative investment strategies during the current low interest rate phase. Retail investors have bought gold physically and via the investment account. Almost 3,000 customers held more than 2.5 tonnes of gold deposits at the end of the year. wide to receive the best-known sustainability certi- stands for Responsible Jewellery Council, is an international association of companies operating in the gold and jewelry sector and is headquartered in London. These companies commit to responsible corporate management, the observance of human rights, fair working conditions and meeting environmental requirements. In the insurance and pensions-saving business, more than 6,000 non-life insurance policies were arranged, which represents an increase over the previous year s level. The value of the life insurance policies arranged increased slightly over the previous year s value to million. The market for real estate enjoyed strong dynamic growth was also an outstanding year for the real estate business, in which 521 real estate transactions with a total value of million were arranged. Sparkasse on the Internet: info@sparkasse-pforzheim-calw.de 7

8 Published by Sparkasse Pforzheim Calw Board of Management Off ice Text: Board of Management Off ice Poststraße 3, Pforzheim, Germany Telephone: Telefax: