Introductory Note of the Managing Board 3. Report of the Supervisory Board 4. Organizational Chart of Raiffeisen Landesbank Kärnten 5

Transcription

1 Annual Report 216

2 Content Introductory Note of the Managing Board 3 Report of the Supervisory Board 4 Organizational Chart of Raiffeisen Landesbank Kärnten 5 Facts and Figures 6 Financial Statements Carinthian Raiffeisen Banks 12 2 Annual Report 216

3 Mag. Peter Gauper Mag. Georg Messner Mag. Gert Spanz Corporate Management and Managing Board of Raiffeisen Landesbank Kärnten Introductory Note of the Managing Board A positive result The year 216 was a successful year for Raiffeisen Landesbank Kärnten! The bank was able to exceed the forecast business result despite a challenging environment. For this reason, we will continue to adhere to our strategy that is based on the following key principles: improved profitability, customer focus, quality leadership, lean processes and successful teamwork. Digitisation is an issue that will be a major focus of our activities as we aim to secure our own future for the long term. In 216, Raiffeisen Landesbank Kärnten successfully understood that the general conditions in the market which include extensive regulatory requirements, a persistent low- and zero-interest environment and the advance of digitisation also represented an opportunity. Despite changing customer behaviour and competitors that are active in the market, we are nevertheless able to look back on positive business developments. The situation in the corporate and retail client segment, which is characterised by positive customer developments and a good credit and services business, is particularly positive. A new strategic focus was established with the opening of the WohnTraumCenter. The combined financing competence in one location offers customers effective added value. The WohnTraumCenter is supposed to become the preferred address for building and housing issues. Raiffeisen Landesbank Kärnten aims to support the Carinthian Raiffeisen Bank Group in not just maintaining but further expanding its position as the undis-puted market leader. The concentration on four defined strategic marketing targets is the result of a joint development with the Carinthian Raiffeisen Banks. In Carinthia, we want to grow particularly with regard to account and ELBA penetration, increase the financing volume for corporate and retail clients, and increase the number of securities customers. The current positive results confirm the validity of the present course. For example, the number of customers with an account grew, as did the number of ELBA users. Increasing customer demand for rapid and extensive digitisation processes are being addressed with the programme Digital Regional Bank: Regional. Digital. Everywhere. We are getting the Carinthian Raiffeisen Banks ready for the digital future without compromising our strengths in building direct relationships with people. Personal advice continues to be a key feature of successful customer relationships even in the information age. Very good marketing success and low risk costs contributed to a respectable result for 216. Cost management processes were positive as the plan targets were adhered to. The capital situation significantly exceeds all statutory requirements. We thank our customers, partners, owners and officials for their trust and a collaboration based on partnership. A special thank-you goes to our employees. With their personal commitment and the practised culture of teamwork, they made an important contribution to our success in a challenging environment. We have set the stage for the future, so that we can chart our course in the coming years with renewed strength. 3 Annual Report 216

4 Report of the Supervisory Board Raiffeisen Landesbank Kärnten was able to continue its long-term successful strategy in 216, as the bank managed to generate a respectable result despite the low-interest environment. Our capital resources are sufficiently above the required capital ratios. We also successfully passed the SREP procedure carried out by the supervisory authorities for the first time in 216. The Supervisory Board received detailed information about the company's financial developments from the Managing Board in five Supervisory Board meetings. All of the decisions assigned to the Supervisory Board were also made at these meetings. The committees of the Supervisory Board carried out the duties assigned to them by law and as per the by-laws. In the 216 business year, the audit committee held four meetings. The Supervisory Board received additional advice from the nomination and risk committees, which also performed banking-related audit activities and reported these to the Supervisory Board. At the Annual General Meeting, Christian Leeb and Ing. Siegmund Sucher were elected to the Supervisory Board. The 216 annual financial statements were audited by the Österreichischer Raiffeisenverband in its capacity as the statutory audit association; it subsequently issued an unqualified audit opinion. The Supervisory Board has noted the annual financial statements and the result of the audit with agreement. The environment in which Raiffeisen Landesbank Kärnten operates offers all of the divisions of the bank an opportunity to further expand business activities and continue the healthy, secure and positive development of the bank. The Supervisory Board would like to thank all of the members of the Managing Board and all of the individuals involved for their services. It strongly believes that the successful strategy can be continued in 217 as a result of their commitment. Klagenfurt, 29 May 217 Raiffeisenlandesbank Kärnten Rechenzentrum und Revisionsverband, registrierte Genossenschaft mit beschränkter Haftung ÖR Robert Lutschounig Chairman of the Supervisory Board 4 Annual Report 216

5 Organizational Chart of Raiffeisen Landesbank Kärnten Mag. Peter Gauper Retail & Corporate Business Retail & Corporate Business Customer service Front-office assistance Raiffeisenplatz bank branch University bank branch Schleppekurve bank branch Retail banking WohnTraumCenter Corporate Business Real estate & project financing Industry & small- and medium-sized enterprises (SMEs) Skilled trades and self-employed professionals Syndicate transactions & support for subsidized projects International Business Trade and consortium financing International financing RLB Marketing & Sales Personnel Management Managing Board Assistance Team and Organizational & Human Resources Development Internal Auditing Mag. Georg Messner Raiffeisen Banks Treasury Asset and liability management & liquidity management Lending & stock portfolio management Treasury services Bank Services Cooperative projects Investment & financial planning Marketing & sales Overall bank management Training & continuing education RVM Data Centre IT organization & applications development IT infrastructure & IT security & Data Centre operation IT support services & IT coordination services Transaction Banking Payment transaction services Treasury services * Securities services Internal Auditing Mag. Gert Spanz Risk Management, Bank Management Credit Risk & Accounts Receivable Management Credit risk management & corporate analysis Accounts receivable management & legal advice Restructuring management Back-Office Operations Back-office operations for lending services Back-office operations for securities and savings Bank Management Controlling Accounting Reporting & participating interests Administration & central services Legal & Compliance Internal Auditing *Treasury services assigned to the Managing Board member responsible for risk management and bank management 5 Annual Report 216

6 Facts and Figures Raiffeisen in Carinthia Overview Change (%) Number of cooperatives of which Raiffeisen Banks incl. RLB Kärnten Lagerhaus cooperatives 2 2 Dairies 9 9 Livestock breeding and pasturing cooperatives Electricity and district heating cooperatives Other 7 7 Carinthian Raiffeisen Bank Group (incl. RLB Kärnten) Number of bank branches ,% Cumulative total assets (EUR thousands) ,33% Money under management (EUR thousands) ,1% of which initial deposits ,54% of which customer securities ,9% of which financing activities ,5% Number of accounts ,78% Number of securities accounts ,97% Number of building society savings contracts ,87% Number of pension fund contracts ,67% Operating revenue (EUR thousands) ,29% Operating expenses (EUR thousands) ,69% Operating result (EUR thousands) ,59% Result from ordinary activities (EUR thousands) ,48% Equity pursuant to the Austrian Banking Act (BWG) (EUR thousands) in % of the assessment base 16,47% 16,47% -,3% 6 Annual Report 216

7 Raiffeisenlandesbank Kärnten Rechenzentrum und Revisionsverband, registered cooperative with limited liability Overview in EUR thousands Change (%) Total assets ,9% Operating revenue ,4% Operating expenses ,2% Operating result ,9% Results of ordinary business activities ,5% Balance sheet profit ,6% Equity total ,2% Equity ratio 18,25% 16,81% Return on Equity (ROE) 3,79% 3,53% Cost-Income Ratio (CIR) 8,85% 81,47% Bank Branches of Raiffeisen Landesbank Kärnten Raiffeisenplatz 1, 92 Klagenfurt am Wörthersee University Nautilusweg 11, 92 Klagenfurt am Wörthersee Schleppekurve Feldkirchner Straße 14, 92 Klagenfurt am Wörthersee Information on the Auditors Report The unabbreviated German-language financial statements of Raiffeisen Landesbank Kärnten for the year ended 31 December 216, which appear in the Commercial Register, were given an unqualified audit opinion by the statutory auditor of Österreichischer Raiffeisenverband. Pursuant to Article 281 (2) of the Austrian Commercial Code (UGB), we wish to indicate that this annual report is an extract of the financial statements prepared as required by law, which were audited and approved by Österreichischer Raiffeisenverband. The annual report will be published in the Raiffeisen Zeitung (Raiffeisen Journal). The audit opinion was issued by association auditor Mag. Wilhelm Foramitti on 24 May 217. Auditing association: Österreichischer Raiffeisenverband, registered association 7 Annual Report 216

8 Financial Statements 216 Balance sheet for the year ended 31 December 216 Assets EUR EUR thousands 1 Cash reserves, balances with central banks and in post office giro accounts , Public sector debt instruments and bills of exchange eligible for rediscounting by the central bank: a) Public sector debt instruments and similar securities b) Bills of exchange eligible for rediscounting by the central bank 3 Receivables from credit institutions a) Payable daily b) Other receivables ,35, , , , , Customer receivables , Debenture bonds and other fixed interest securities a) Issued by public sector entities b) Issued by other institutions Of which: Issued by the bank, ,28, , Shares and other variable-interest securities , Participating interests Of which: In credit institutions ,83 8 Participating interests in affiliated companies Of which: In credit institutions , , , Intangible fixed assets , Tangible fixed assets Of which: Real estate and buildings used by the bank within the scope of its own activities ,21 11 Treasury shares and shares in companies in which the bank has a controlling or majority interest Of which: Nominal value, ,94 12 Other assets , Subscribed capital (called, but not yet paid), 14 Prepaid expenses and deferred charges , Deferred tax assets ,23, Total assets , Annual Report 216

9 Balance sheet for the year ended 31 December 216 Liabilities EUR EUR thousands 1 Liabilities to credit institutions a) Payable daily b) With agreed term or period of notice , , , Liabilities to customers a) Saving deposits Of which: aa) Payable daily ab) With agreed term or period of notice b) Other liabilities Of which: ba) Payable daily bb) With agreed term or period of notice , , , , , , , Documentary liabilities a) Issued debenture bonds b) Other documentary liabilities, , , Other liabilities , Deferred items , Provisions a) Provisions for severance payments b) Provisions for pensions c) Provisions for taxes d) Other , , , , , A Funds for general banking risks , Supplementary capital pursuant to Part 2, Title I, Chapter 4 of Regulation (EU) No. 575/ , Additional core capital pursuant to Part 2, Title I, 8a Mandatory convertible bonds pursuant to Article 26 of the Austrian Banking Act (BWG), 8b Non-voting instruments pursuant to Article 26a BWG, 9 Subscribed capital , Capital reserves a) Committed b) Uncommitted,,, 11 Revenue reserves a) Reserves provided for by the articles of association b) Other reserves Of which: Committed reserves , , , , Liability reserves pursuant to Article 57 (5) BWG 29.3., Balance sheet profit , Total liabilities , ) In accordance with sec. 96 (31) UGB (Unternehmensgesetzbuch; Austrian Commercial Code), untaxed reserves that were created before 1 January 216 must be allocated directly to retained earnings in the financial year that begins after 31 December 215, insofar as the deferred tax liabilities contained therein are not to be allocated to the provisions. In application of this provision, the untaxed reserves of EUR 2,618, reported in the 31 December annual financial statements were reversed (no impact on earnings) and the previous year s amount of the balance sheet item 6c Provisions for taxes was increased by EUR 654, from EUR 2,657, to EUR 3,311, pursuant to sec. 96 (36) UGB. 2) In reference to the reversal of untaxed reserves noted in footnote 1, the previous year s amount of the balance sheet item 11 b Other reserves was increased by EUR 1,964, from EUR 145,477, to EUR 147,441,. 9 Annual Report 216

10 Off-balance sheet items Assets EUR EUR thousands 1 Foreign assets , Off-balance sheet items Liabilities EUR 1 Contingent liabilities Of which: a) Acceptances and liabilities arising from bills endorsed by the bank b) Liabilities from guarantees and liabilities from the provision of collateral, ,86 2 Credit risks Of which: Liabilities under repurchase agreements, , , EUR thousands Liabilities from fiduciary transactions 1.12., Eligible own funds pursuant to Part 2 of Regulation (EU) No. 575/213 Of which: Supplementary capital pursuant to Part 2, Title I, Chapter 4 of Regulation (EU) No. 575/ , , Capital requirements pursuant to Art. 92 of Regulation (EU) No. 575/213* , Of which: a) Capital requirements pursuant to Art. 92 (1) letter a of Regulation (EU) No. 575/213 (hard Tier 1 ratio in %) 16,73 14,42 b) Capital requirements pursuant to Art. 92 (1) letter b of Regulation (EU) No. 575/213 (Tier 1 ratio in %) 16,73 14,42 c) Capital requirements pursuant to Art. 92 (1) letter c of Regulation (EU) No. 575/213 (total capital ratio in %) 18,25 16,81 6 Foreign liabilities , Profit and loss account EUR EUR thousands 1 Interest and similar income Of which: From fixed-interest securities , , Interest paid and similar expenses , I. NET INTEREST YIELD , Income from securities and participating interests a) Income from shares, other equity and variable-interest securities b) Income from participating interests c) Income from shares in affiliated companies 1.411, , , ,72 4 Commission income , Commission expenditure , Income/expenditure from financial transactions , Other operating income , Annual Report 216

11 EUR EUR thousands II. OPERATING INCOME , General administration expenditure , a) Personnel costs Of which: aa) Wages and salaries ab) Expenses for statutory social security contributions and mandatory contributions based on compensation ac) Other social security costs ad) Costs for retirement benefits and assistance ae) Allocations to pensions reserve af) Costs for severance payments and payments to employee retirement funds b) Other administrative expenditure (expenditure on materials) , , , , , , , , Impairment of assets listed under asset items 9 and , Other operating expenditure , III. OPERATING EXPENDITURE , IV. OPERATING RESULT , Impairment of doubtful accounts receivable and allocations to provisions for contingent liabilities and lending risks , Balance from reversals of/allocations to allowances for doubtful accounts receivable and provisions for contingent liabilities and lending risks , Impairment of securities valued as financial assets, as well as on participating interests and shares in affiliated companies , Balance from reversals of/allocations to allowances for securities valued as financial assets, as well as on participating interests and shares in affiliated companies 96.51, V. RESULT FROM ORDINARY ACTIVITIES , Extraordinary income Of which: Allocations to the fund for , general banking risks, 16 Extraordinary expenses Of which: Allocations to the fund, for general banking risks, 17 Extraordinary result (subtotal of items 15 and 16) , 18 Taxes on income and earnings Of which: From deferred taxes , ,37 19 Other taxes not required to be shown under item , VI. NET INCOME , Balance of movements in reserves Allocation (-) Retransfer (+) , a) Tax reserves pursuant to Article 4 (7) of the Austrian Income Tax Act (EStG), pursuant to Article 9 EStG, pursuant to Article 1 EStG, pursuant to Article 11 EStG, pursuant to Article 12 EStG,, 219 b) Free reserves , IPS retained earnings , ,4-1.5 VII. ANNUAL PROFIT , Profit carried forward, VIII. BALANCE SHEET PROFIT , Annual Report 216

12 Carinthian Raiffeisen Banks Raiffeisen banks Bank branches In 216, Raiffeisen s cooperative banks have proved to be the best partner for Carinthia s people and economy. A market share of 4% in retail banking and a share of 54% in corporate banking is clear evidence of Raiffeisen s market leadership in Carinthia. 12 Annual Report 216

13 Publication Details Published by: Raiffeisen Landesbank Kärnten, Raiffeisenplatz 1 92 Klagenfurt am Wörthersee, T +43() , Editorial department: Mag. Maria Wohlgemuth Editorial deadline: 24 May 217 Concept: Schlacher Unternehmenskommunikation and Janesch Grafik-Designerei Photos: Johannes Puch Children's drawings from the 216 Children's Drawing Competition Gender-neutral terms were used where possible for easier readability and improved text flow. Possible male designations automatically also include the female gender. The German version is the authentic version that is of relevance for all legal aspects. English-language reports are translations of the original German text. We have prepared this report with the utmost care and have verified the data contained in the report. Rounding, transmission, typographical or printing errors cannot be excluded however. The name Raiffeisen Landesbank Kärnten is used synonymously with the exact company name Raiffeisenlandesbank Kärnten Rechenzentrum und Revisionsverband, registrierte Genossenschaft mit beschränkter Haftung (Data Centre and Audit Association, registered cooperative with limited liability).

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