5
| Income Statement of our Consolidated Banking Subsidiaries in CEE | ||||||||||||||||||||||||||||||
| € m | Poland | Hungary | Czech Republic | Slovakia | Slovenia | Croatia | Romania1) | Bulgaria2) | Bosnia and H. | Serbia3) | Total CEE | |||||||||||||||||||
| 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2005 | 2005 | 2004 | 2003 | |
| Net interest income | 491 | 403 | 302 | 116 | 93 | 66 | 99 | 80 | 76 | 32 | 31 | 29 | 29 | 23 | 24 | 85 | 73 | 66 | 60 | 29 | 16 | 62 | 37 | 26 | 20 | 11 | 6 | 998 | 782 | 604 |
| Losses on loans and advances | –63 | –57 | –63 | –12 | –10 | –7 | –6 | 2 | 4 | –2 | –3 | –2 | –3 | –2 | –2 | –1 | –7 | –8 | –8 | –3 | –4 | –13 | –5 | –6 | –3 | 1 | – | –111 | –83 | –87 |
| Net fee and commission income | 254 | 209 | 202 | 60 | 58 | 42 | 69 | 61 | 54 | 14 | 10 | 9 | 12 | 10 | 9 | 30 | 25 | 19 | 31 | 14 | 9 | 27 | 14 | 11 | 9 | 7 | 2 | 508 | 408 | 355 |
| Net trading result | 23 | 13 | 20 | 21 | 35 | 12 | 3 | 6 | 2 | 6 | 8 | 2 | –2 | – | –1 | 8 | 9 | 9 | 7 | 2 | 4 | 5 | 6 | 8 | – | – | 1 | 72 | 78 | 55 |
| General administrative expenses | –381 | –340 | –351 | –93 | –88 | –61 | –86 | –71 | –71 | –27 | –25 | –22 | –23 | –19 | –19 | –65 | –61 | –54 | –43 | –16 | –12 | –57 | –34 | –29 | –21 | –20 | –6 | –803 | –675 | –618 |
| Balance of other operating income and expenses | 4 | –16 | 7 | –1 | –1 | – | –2 | –5 | –4 | – | – | – | – | – | – | –7 | –4 | –6 | –2 | –1 | –1 | –2 | – | – | – | – | – | –10 | –28 | –4 |
| Operating profit | 327 | 213 | 116 | 91 | 86 | 52 | 77 | 73 | 60 | 22 | 21 | 17 | 14 | 12 | 11 | 51 | 36 | 26 | 45 | 24 | 12 | 21 | 18 | 10 | 5 | 0 | 2 | 654 | 482 | 306 |
| Net income from investments | –1 | 13 | 17 | 4 | – | –1 | 2 | –1 | – | – | – | 2 | – | – | – | – | – | 2 | 1 | – | 1 | – | 1 | 1 | – | – | – | 6 | 13 | 21 |
| Amortisation of goodwill | –3 | –8 | –3 | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | –3 | –8 | –3 |
| Balance of other income and expenses | –1 | –1 | –1 | – | – | –1 | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | –1 | –1 | –2 |
| Provisions for restructuring costs | – | – | – | – | – | – | – | – | – | –1 | – | – | – | – | – | – | – | – | – | – | – | –6 | – | – | – | – | – | –7 | – | – |
| Net income before taxes | 321 | 217 | 129 | 94 | 86 | 49 | 79 | 72 | 61 | 21 | 20 | 19 | 14 | 12 | 11 | 51 | 36 | 28 | 46 | 24 | 13 | 15 | 18 | 11 | 5 | 0 | 2 | 650 | 486 | 321 |
| Average risk-weighted assets | 7,421 | 5,814 | 4,962 | 2,768 | 2,467 | 1,739 | 3,691 | 3,060 | 2,417 | 890 | 840 | 695 | 929 | 734 | 729 | 1,932 | 1,761 | 1,563 | 1,169 | 504 | 273 | 884 | 541 | 394 | 322 | 266 | 141 | 20,145 | 15,987 | 12,773 |
| Average equity | 1,528 | 1,229 | 1,103 | 439 | 354 | 276 | 479 | 403 | 358 | 201 | 169 | 149 | 119 | 76 | 70 | 234 | 201 | 181 | 131 | 43 | 27 | 125 | 78 | 67 | 43 | 25 | 12 | 3,311 | 2,579 | 2,229 |
| Cost/income ratio (in %) | 49.4 | 55.7 | 66.1 | 47.7 | 48.0 | 50.7 | 50.9 | 50.3 | 56.0 | 52.3 | 51.4 | 53.2 | 58.1 | 57.6 | 59.6 | 55.8 | 59.1 | 61.0 | 44.9 | 37.6 | 42.7 | 62.7 | 60.2 | 64.4 | 72.7 | 103.4 | 73.6 | 51.2 | 54.4 | 61.1 |
| Return on equity before taxes (in %)4) | 21.0 | 17.6 | 11.7 | 21.5 | 24.3 | 17.9 | 16.4 | 18.0 | 17.0 | 10.4 | 11.9 | 12.5 | 12.0 | 16.3 | 15.7 | 21.6 | 17.7 | 15.7 | 35.3 | 56.0 | 47.2 | 12.1 | 23.5 | 17.2 | 12.0 | 2.0 | 19.7 | 19.6 | 18.9 | 14.4 |
| Exchange rate at year-end (units of local currency per euro) |
4.027 | 4.531 | 4.702 | 248.394 | 251.539 | 262.500 | 29.846 | 31.945 | 32.410 | 38.590 | 40.110 | 41.170 | 239.579 | 239.018 | 236.700 | 7.400 | 7.493 | 7.630 | 3.648 | 4.050 | 4.116 | 1.956 | 1.953 | 1.956 | 1.956 | 1.956 | 82.977 | |||
| Appreciation/depreciation against the euro | +13% | +4% | +1% | +4% | +7% | +1% | +4% | +3% | 0% | –1% | +1% | +2% | +11% | +2% | 0% | 0% | 0% | |||||||||||||
| 1) | Including Banca Tiriac as from September 2005 |
| 2) | Including Hebros Bank as from April 2005 |
| 3) | HVB Bank Serbia and Montenegro including Eksimbanka consolidated as from 1 October 2005 |
| 4) | Based on actual average equity |
| Financial information relating to subsidiaries corresponds to the financial statements prepared in accordance with IFRSs as published and used for preparing the consolidated financial statements of the Bank Austria Creditanstalt Group. | |
| Income statement in local currency | |||||||||||||||||||||||||||
| Poland (PLN m) |
Hungary (HUF m) |
Czech Republic (CZK m) |
Slovakia (SKK m) |
Slovenia (SIT m) |
Croatia (HRK m) |
Romania1) (RON m) |
Bulgaria2) (BGN m) |
Bosnia and H. (BAM m) |
Serbia3) (CSD m) |
||||||||||||||||||
| 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2003 | 2005 | 2004 | 2005 | |
| Net interest income | 1,975 | 1,827 | 1,418 | 28,726 | 23,476 | 17,240 | 2,960 | 2,571 | 2,462 | 1,224 | 1,236 | 1,191 | 6,963 | 5,571 | 5,687 | 627 | 549 | 502 | 219 | 117 | 65 | 121 | 73 | 52 | 39 | 22 | 458 |
| Losses on loans and advances | –255 | –259 | –297 | –2,920 | –2,536 | –1,783 | –193 | 76 | 144 | –93 | –126 | –87 | –611 | –491 | –427 | –4 | –52 | –61 | –30 | –11 | –15 | –26 | –10 | –11 | –5 | 2 | – |
| Net fee and commission income | 1,023 | 947 | 950 | 14,806 | 14,503 | 11,045 | 2,061 | 1,947 | 1,742 | 539 | 414 | 391 | 2,931 | 2,496 | 2,134 | 225 | 189 | 145 | 113 | 55 | 35 | 52 | 28 | 22 | 18 | 13 | 175 |
| Net trading result | 92 | 61 | 92 | 5,225 | 8,715 | 3,155 | 90 | 190 | 55 | 218 | 301 | 83 | –462 | –59 | –258 | 61 | 67 | 72 | 27 | 9 | 16 | 9 | 11 | 15 | – | 1 | 109 |
| General administrative expenses | –1,535 | –1,539 | –1,648 | –23,196 | –22,241 | –15,953 | –2,569 | –2,284 | –2,310 | –1,036 | –1,003 | –886 | –5,475 | –4,548 | –4,489 | –481 | –459 | –411 | –158 | –66 | –48 | –112 | –67 | –57 | –41 | –38 | –530 |
| Balance of other operating income and expenses | 16 | –73 | 32 | –138 | –324 | 50 | –58 | –171 | –132 | – | – | – | –2 | –106 | –29 | –52 | –27 | –45 | –6 | –5 | –3 | –4 | – | – | –1 | – | –23 |
| Operating profit | 1,316 | 965 | 548 | 22,503 | 21,593 | 13,755 | 2,290 | 2,329 | 1,960 | 852 | 822 | 692 | 3,344 | 2,863 | 2,618 | 376 | 267 | 201 | 164 | 98 | 50 | 40 | 35 | 20 | 10 | 1 | 190 |
| Net income from investments | –6 | 59 | 78 | 970 | 61 | –382 | 59 | –16 | 10 | 15 | –17 | 72 | 83 | 114 | –12 | –2 | 1 | 15 | 5 | –1 | 2 | – | 1 | 2 | – | – | – |
| Amortisation of goodwill | –11 | –38 | –16 | – | –4 | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Balance of other income and expenses | –4 | –4 | –4 | – | – | –392 | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1 |
| Provisions for restructuring costs | – | – | – | – | – | – | – | – | – | –57 | – | – | – | – | – | – | – | – | – | – | – | –11 | – | – | – | – | – |
| Net income before taxes | 1,294 | 982 | 605 | 23,473 | 21,651 | 12,980 | 2,349 | 2,313 | 1,970 | 811 | 805 | 764 | 3,427 | 2,977 | 2,606 | 375 | 267 | 216 | 169 | 97 | 52 | 30 | 36 | 22 | 10 | 1 | 191 |
| Average risk-weighted assets | 29,882 | 26,346 | 23,333 | 687,511 | 620,617 | 456,505 | 110,149 | 97,748 | 78,324 | 34,365 | 33,684 | 28,629 | 222,458 | 175,332 | 172,611 | 14,294 | 13,193 | 11,928 | 4,264 | 2,043 | 1,123 | 1,728 | 1,057 | 770 | 629 | 520 | 11,678 |
| Average equity | 6,154 | 5,568 | 5,187 | 108,991 | 89,115 | 72,425 | 14,301 | 12,863 | 11,603 | 7,770 | 6,780 | 6,116 | 28,489 | 18,219 | 16,548 | 1,735 | 1,508 | 1,378 | 479 | 174 | 110 | 244 | 153 | 130 | 84 | 49 | 968 |
| 1) | Including Banca Tiriac as from September 2005 |
| 2) | Including Hebros Bank as from April 2005 |
| 3) | HVB Bank Serbia and Montenegro including Eksimbanka consolidated as from 1 October 2005 |
| 4) | Based on actual average equity |
| Financial information relating to subsidiaries corresponds to the financial statements prepared in accordance with IFRSs as published and used for preparing the consolidated financial statements of the Bank Austria Creditanstalt Group. | |
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