Svet se spreminja. Spreminjajmose skupaj. L etošnje poročilo kaže, kako inovativni izdelki in ideje skupine UniCredit pomagajo našim strankam in podjetjem, da se odzovejo na izzive spreminjajočega se sveta. Izpostavili smo napredne nove večkanalne produkte in storitve, ki smo jih razvili, da bi zadovoljili sodobne potrebe naših strank, in tako pokazali, kako se Banka prilagaja spremembam – in kako naše rešitve pomagajo tudi našim strankam, da se istočasno prilagajajo. V skupini UniCredit omogočamo uporabnikom naših bančnih storitev, da popolnoma izkoristijo tehnologije in prilagojene storitve, ki so jim na voljo, da lahko dosežejo svoje cilje. Kot njihov partner, imamo odgovornost, da jim zagotovimo fleksibilnost, možnost predvidevanja in orodja, ki jih potrebujejo za premagovanje ovir in izkoriščanje novih priložnosti. Svet se spreminja. Spreminjajmo se skupaj. 2014 Letno poročilo Predstavitev Banke Finančni kazalniki 2014 2013 2012 Izkaz finančnega položaja (v 1.000 EUR) Bilančna vsota 2.578.732 2.488.557 2.815.367 Vloge nebančnega sektorja 1.368.511 1.276.833 1.227.789 Vloge pravnih in drugih oseb, ki opravljajo dejavnost 852.556 784.478 784.264 Vloge prebivalstva 515.955 492.355 443.525 Krediti nebančnemu sektorju, merjeni po odplačni vrednosti 1.743.570 1.895.472 2.269.317 Krediti pravnim in drugim osebam, ki opravljajo dejavnost 1.023.251 1.137.984 1.495.493 Krediti prebivalstvu 720.319 757.488 773.824 Kapital 244.001 227.715 251.623 Oslabitve finančnih sredstev 200.700 170.431 113.405 Rezervacije 7.116 6.137 2.443 Obseg zunajbilančnega poslovanja 2.927.580 3.685.267 3.844.597 Izkaz poslovnega izida (v 1.000 EUR) Čisti obrestni prihodki 48.626 48.389 55.970 Čisti neobrestni prihodki 21.596 23.842 21.306 Promet (čisti obrestni in čisti neobrestni prihodki) 70.222 72.231 77.276 Stroški dela (22.259) (22.640) (23.928) Drugi administrativni stroški (11.720) (12.337) (12.908) Amortizacija (5.113) (5.052) (4.586) Oslabitve in rezervacije (30.517) (79.595) (35.544) Poslovni izid pred obdavčitvijo 613 (47.393) 310 Davek od dohodka pravnih oseb (14) 8.194 763 Izkaz drugega vseobsegajočega donosa (v 1.000 EUR) Drugi vseobsegajoči donos pred obdavčitvijo 18.899 17.196 12.924 Davek iz dohodka pravnih oseb od drugega vseobsegajočega donosa (3.212) (2.924) (3.262) Zaposleni Število zaposlenih na dan 31. december 563 576 601 Število zaposlenih v ekvivalentu polnega delovnega časa na dan 31. december 516,0 535,2 559,1 Delnice Število delničarjev 25 26 27 Nominalna vrednost delnic (v EUR) 4,17 4,17 4,17 Knjigovodska vrednost delnic (v EUR) 49,92 46,58 51,48 Število delnic 4.888.193 4.888.193 4.888.193 Kapital Količnik kapitalske ustreznosti 19,7 % 16,9 % 13,5 % Kvaliteta sredstev in prevzetih obveznosti Oslabitve finančnih sredstev, merjenih po odplačni vrednosti in rezervacije za prevzete obveznosti / razvrščene aktivne bilančne in razvrščene zunajbilančne postavke 7,0 % 5,9 % 3,6 % Profitabilnost Obrestna marža 1,8 % 1,8 % 1,9 % Marža finančnega posredništva 2,6 % 2,6 % 2,6 % Donos na aktivo po davkih (ROA) 0,0 % (1,4 %) 0,0 % Donos na kapital pred davki (ROE) 0,3 % (19,3 %) 0,1 % Donos na kapital po davkih 0,3 % (15,9 %) 0,4 % Stroški poslovanja Operativni stroški / povprečna aktiva 1,5 % 1,5 % 1,4 % Likvidnost Likvidna sredstva / kratkoročne finančne obveznosti do nebančnega sektorja, merjene po odplačni vrednosti 43,9 % 34,7 % 29,9 % Likvidna sredstva / povprečna aktiva 21,7 % 14,5 % 9,1 % Nagovor izvršnega direktorja skupine UniCredit FEDERICO GHIZZONI Izvršni direktor skupine UniCredit “Vrnili smo se k dobičkonosnosti in želi sadove našega trdega dela. Zdaj se spet lahko osredotočimo na doseganje rasti.” Spoštovani delničarji, Leta 2014 smo se vrnili k dobičkonosnosti in želi sadove trdega dela, da bi okrepili našo kapitalsko pozicijo, poenostavili procese in povečali učinkovitost. Zdaj se spet lahko osredotočimo na doseganje rasti. To obdobje je predstavljalo prelomnico za našo Skupino. V prvem letu uresničevanja našega poslovnega načrta smo dosegli dobiček dveh milijard evrov. Ta cilj smo dosegli s pravočasnim izvajanjem začetne faze našega načrta. Dva pomembna mejnika sta bila prva javna ponudba družbe Fineco in prodaja UniCredit Bank Credit Management. Načrt poudarja naložbe, razvoj naših komercialnih bančnih dejavnosti, realizacijo večje vrednosti iz naših osnovnih sredstev in zmanjšanje nestrateških sredstev. Dobri rezultati v Italiji ter srednji in vzhodni Evropi so pokazali, da smo sprejemali prave strateške odločitve. Ob zavedanju, da je naša Skupina pomembna za širše, med seboj povezano gospodarstvo, zagotavljamo finančna sredstva, kjer je to najbolj potrebno, in obenem spodbujamo razvoj skupnosti, kjer živimo in delamo. Dosežki skupine UniCredit v letu 2014 so še toliko bolj pomembni, če jih gledamo v luči stalnih geopolitičnih napetosti in brezposelnosti, ki težijo Evropo. V tem kompleksnem okolju smo rasli z osredotočanjem na dnevno poslovanje v naši dejavnosti. Zahvaljujoč dobrim odločitvam naših vodilnih kadrov in strokovnosti naših zaposlenih, smo dosegli precejšen napredek pri učinkovitosti in povečali svoj tržni delež - predvsem v obliki novih posojil. Poleg tega smo priča pozitivnim makroekonomskim premikom, ki lahko pomagajo ponovno pridobiti zaupanje trga in spodbujati naložbe, zato lahko gledamo v prihodnost z optimizmom. Kljub temu se zavedamo, da se bo trdno in trajnostno okrevanje Evrope uresničilo le, če lahko voditelji držav izpeljejo strukturne reforme po vsej celini. V preteklem letu smo pokazali naše zaupanje v potencial Evrope, ko smo se odločili, da uporabimo kar največ sredstev, ki nam jih je dala na voljo Evropska centralna banka, za podporo družinam in podjetjem, s čimer smo prispevali svoj del k razvoju realnega gospodarstva. Podpora skupnostim je jedro našega poslanstva. To je razlog, zaradi katerega smo preoblikovali naš poslovni model in vlagamo v inovativne nove storitve - kot so mednarodni centri UniCredit, ki olajšujejo čezmejne transakcije za pravne osebe. Ta model izvira iz naše zavezanosti k trajnostnemu delovanju in ohranjanju svetovnih virov. Tesni odnosi s strankami so osrednjega pomena za to vizijo. Kupci želijo danes, bolj kot kdajkoli prej, nadzor nad tem, kako, kdaj in kje komunicirajo s svojo banko. Naša naloga je razviti inovativne načine, ki so prijazni uporabnikom, da bi omogočili tesne poslovne odnose, ki jih zaznamujejo vrhunske storitve. V prihodnosti želimo tesno partnerstvo z našimi kupci razviti kot še bolj prepoznavno značilnost naše Skupine. Naša večkanalna strategija1 je ključnega pomena za uresničevanje tega izziva, za kar že zdaj namenjamo znatna sredstva za kadre in tehnologijo. Cilj je združiti najboljše elemente osebnega in digitalnega bančništva za izboljšanje kakovosti in učinkovitosti naših storitev. Ankete o zadovoljstvu strank so potrdile, da je delo, ki smo ga opravili, dobro. Te raziskave kažejo tudi, da naše stranke cenijo svoje odnose z nami. Sposobnost naših sodelavcev, da prenesejo načela našega modela kompetenc v konkretne ukrepe, je v središču tega poslovnega uspeha. Zavezali smo se, da še naprej gradimo na teh prednostih, zato bomo še naprej vlagali v spretnosti in znanja vseh naših sodelavcev. Strokovnost naših sodelavcev je bila dodatno potrjena, ko je bil lani izveden pregled kakovosti sredstev in ko je bila UniCredit, na podlagi celovitega pregleda, uvrščena med najmočnejše banke v Evropi. Menim, da je bil pregled ključnega pomena in je znatno prispeval k preglednosti in zaupanju v evropskem bančnem sektorju. S tem je zagotovil trdne temelje za pravo bančno unijo, kar je temeljni pogoj za trdno in trajnostno gospodarsko okrevanje. Vsa ta dogajanja so pomagala skupini UniCredit, da se sooči z novimi izzivi. Zdaj je naš glavni cilj, da se UniCredit uveljavi kot vodilna banka v Evropi, kar zadeva kakovost storitev. Od drugih akterjev v tem sektorju se želimo razlikovati tudi zaradi sodelovanja v digitalni revoluciji, ki trenutno povzroča preoblikovanje bančništva. Dobro smo pripravljeni na izzive prihodnosti. Naša široka evropska prisotnost, trden kapitalski položaj, močna kultura upravljanja s tveganji in inovativen duh so tesno povezani z našo zavezanostjo doseganju trajnostnih rezultatov in sodelovanju z našimi deležniki. Soočamo se s precej bolj zahtevnim okoljem, toda veliko novih premikov in trendov poteka v našo korist, vključno z zakonodajnim povezovanjem na evropski ravni, soglasjem o potrebi po ponovnem zagonu investicijske dejavnosti in strmim padcem cen energentov. Kot ena izmed najbolj stabilnih in dobro pozicioniranih bank v Evropi se bomo še naprej po svojih najboljših močeh trudili, da bi podprli trajnostno okrevanje po vsej celini. V letu 2015 bomo še naprej prevzemali vodilno vlogo v evropskem gospodarstvu in uporabljali naša sredstva in znanje s preudarnostjo in odločnostjo. S spoštovanjem, Federico Ghizzoni Izvršni direktor skupine UniCredit 1 Večkanalna strategija – banka pri poslovanju uporablja več kanalov za komunikacijo in poslovanje izven fizičnih bančnih poslovalnic: internet (spletna mesta, spletno bančništvo, mobilno in tablično bančništvo, družbena omrežja), bankomatsko mrežo in POS terminale ter kontaktni center (digitalni kanali; telefon, e-pošta). Predstavitev Banke Organizacijska shema Podjetniško svetovanje BANKE Legenda 14 Včasih ne moremo videti stvari jasno. Lahko jih. Natančno. Z enim samim klikom. Zbogom potrdila in poslovne knjige. Pozdravljeno spletno računovodstvo. UniCredit Family Budget, nova spletna storitev za finančno poslovodenje, razvrsti stroške v različne kategorije in ustvarja lahko razumljive grafikone in grafe za lažje sledenje prometu in stanju na računu. Omogoča preprost in praktičen pristop k spletnemu bančništvu ter vam pomaga upravljati prihranke in spremljati račune. Prihodnost se namreč prične s pravimi odgovori. Čas je dragocen. Izkoristite njegovo vrednost. Nasvet, ko ga želite. Vsakdo potrebuje nasvet. In nihče ne želi zapravljati časa. Zato smo ustvarili Video Advice@home. Ta uporabna storitev zagotavlja strokovne nasvete prek spleta, kar vam omogoča, da se povežete z našimi svetovalci iz udobja vašega doma. Program, ki ga enostavno namestite, nam omogoča, da se hitro odzovemo na vprašanja o vašem transakcijskem računu, avtomobilskem posojilu ali hipoteki. Tako lahko ustvarjamo vrednost za vas, kadarkoli in kjerkoli nas potrebujete. 23 Naša strategija 11. marca 2014 je svet direktorjev UniCredit odobril 5-letni strateški načrt s ciljem zagotavljati trajnostno dobičkonosnost v prihodnjih letih. Načrt je osnovan na trdnih temeljih, močni kulturi upravljanja s tveganji ter na izboljšani makroekonomski klimi. Naši cilji so: utrditi vodilni položaj na področju finančnih storitev za podjetja po Evropi, vpeljati inovativen način razmišljanja v naši mreži poslovalnic ter vzpostaviti najsodobnejši digitalni odtis. V UniCredit razumemo našo vlogo kot del širšega sistema, ki uporablja vire ali kapital ter ustvarja skupno vrednost. V resnici je trdnost našega poslovanja odvisna od uspešnosti naših strank in skupnosti, v katerih delujemo. Da bi ustvarili večjo vrednost, razvijamo inovativne rešitve, ki predstavljajo privlačne naložbene priložnosti ter hkrati ustvarjamo pozitiven rezultat za našo Skupino. Petletni strateški načrt smo sprejeli s ciljem zagotavljati vzdržno dobičkonosnost ter na najboljši možen način uporabljati vire, ki jih imamo na voljo. Na takšen način se učinkovito odzivamo na prioritete naših deležnikov. VRSta KaPItaLa * StRatEŠKI StEBRI 1. PREOBLIKOVatI KOMERCIaLNO BaNČNIŠtVO Na ZaHODNIH tRGIH • Nov pristop k bančništvu na področju poslovanja s prebivalstvom • Odzivati se na naraščajoče ne-kreditne potrebe strank iz segmenta poslovanja s podjetji • Izboljšati poslovni model za privatno bančništvo 2. VLaGatI V RaSt POSLOVaNJa • Preusmeriti ravnotežje razporeditve kapitala Skupine s smeri regije SVE • Osredotočenost na “države v ekspanziji” • Podpora nizko-kapitalskim dejavnostim (zbiranje sredstev, upravljanje s sredstvi) 3. IZKORIStItI GLOBaLNE PLatFORME • Ohranjati vodilno vlogo divizije Poslovanje s podjetji in investicijsko bančništvo (CIB) pri njenih osnovnih dejavnostih ter v celoti izkoriščati sinergije • Pospeševati pobude, ki so usmerjene v zniževanje stroškov in poenostavitve • Spodbujati operativno učinkovitost * Za podrobnosti glej Sustainability Report 2014. Naš poslovni model V skupini UniCredit si prizadevamo ponuditi odlične bančne storitve ter zagotoviti podporo ekonomski rasti v skupnostih, v katerih poslujemo. To zahteva razvoj novih storitvenih modelov, ki omogočajo povezave med podjetji na različnih lokacijah, pri čemer mora biti banka bolj dostopna in transparentna, kar pomeni tudi trajnostna. Rezultat procesa prestrukturiranja, ki smo ga sprožili v začetku leta 2012, je poenostavitev naših operativnih procesov. Da bi bili bližje našim strankam, imajo lokalna predstavništva večjo moč odločanja. Cilj te spremembe je poenostavitev poslovanja z uvedbo poenostavljene verige upravljanja, bolj učinkovite komercialne mreže ter širših možnosti za oblikovanje posamezniku prilagojenih rešitev. Poleg tega omogoča našim lokalnim predstavništvom več učinkovitosti pri pomoči razvoju trgov, na katerih poslujejo. NaŠE POSLaNStVO Mi, sodelavci skupine UniCredit se zavzemamo za ustvarjanje vrednosti za naše stranke. Kot vodilna evropska banka si prizadevamo za razvoj skupnosti, v katerih živimo, za svoje sodelavce pa želimo ustvariti prijazno delovno okolje. Stremimo k odličnosti in si nenehno prizadevamo, da bi bilo poslovanje z nami enostavno. Te zaveze nam omogočajo oblikovanje trajnostne vrednosti za naše deležnike. Poudarki PrihodKi Po PoSloVnih Področjih* PrihodKi Po reGijah* Komercialno bančništvo Italija Divizija SVE Italija Poslovanje s podjetji in investicijsko bančništvo Nemčija Komercialno bančništvo Avstrija Nemčija Poljska Poljska SVE Komercialno bančništvo Avstrija Upravljanje s premoženjem Zbiranje sredstev 1. Podatki na dan 31. december 2014. FTE = “Full Time Equivalent”: število zaposlenih za polni delovni čas. Podatki vključujejo vse zaposlene družbe Koç Financial Services Group (Turčija). 2. Podatki na dan 31. december 2014. Podatki vključujejo vse poslovalnice družbe Koç Financial Services Group (Turčija). * Podatki na dan 31. december 2014. Kje smo prisotni aVStrija azerBa jdžan BoSna in herceGoVina BolGarija hrVašKa češKa neMčija MadžarSKa italija PoljSKa roMunija ruSija SrBija SloVašKa SloVenija turčija uKra jina tržni delež3(%) tržni delež (%) aVStrija PoljSKa BoSna in herceGoVina roMunija BolGarija ruSija 1,6 hrVašKa SrBija češKa SloVašKa neMčija SloVenija MadžarSKa turčija italija uKrajina 3. Tržni deleži glede na celotna sredstva po stanju na dan 31. december 2014 za države SVE. Tržni deleži glede na skupno število kreditov strankam po stanju na 31. december 2014 za Italijo, Nemčijo in Avstrijo. Vir: UniCredit National Center Banks, UniCredit Research, UniCredit CEE Strategic Analysis. Podatki na dan 30. september 2014, razen za Bosno in hercegovino, Slovenijo (2Q 2014), Romunijo (1Q 2014), Madžarsko (FY 2013) in Bolgarijo (3Q 2014). * Podatki na dan 30. november 2014. Naš pristop UniCredit ima pomembne odgovornosti znotraj kompleksne verige ustvarjanja vrednosti. Uporabljamo različne vrste kapitala – finančnega, človeškega, družbenega, intelektualnega, okoljskega kot »inpute«, s katerimi pomagamo našemu gospodarstvu in širši družbi. Ti »inputi« močno vplivajo na naš poslovni model ter na kakovost produktov in storitev, ki jih zagotavljamo, torej na naš »output«. Podrobno smo preučili naš vpliv na okolje, zato se še bolj zavedamo pomembne vloge, ki jo imamo v gospodarstvih držav, v katerih poslujemo. Odgovoren pristop je vodilo vsega, kar počnemo; od osnovnih bančnih dejavnosti do naših pobud v smeri družbeno odgovornega ravnanja. Te pobude se navezujejo na finančno vključitev in izobraževanje, s čimer dopolnjujemo našo filantropijo na področju družbenega vključevanja. Globoko verjamemo, da skupnosti, ki zagotavljajo resnično raznolikost možnosti, vzdržujejo inovativno okolje, ki omogoča rast tako posameznikom kot podjetjem. KaPItaLI1 KaPItaLI1 1. Za podrobnosti glej Sustainability Report 2014. Vir: prilagojeno iz IIRC ogrodja. Podatki so jasni. S podpornimistoritvami do uporabnih informacij. Jasni odgovori za prihodnost. Pot k znanju se začne z razumevanjem. Babel je aplikacija, ki preoblikuje podatke v uporabne in točne informacije. Z njo lahko razvijamo posamezniku prilagojene produkte in storitve. Babel nam omogoča izpolnitev vaših pričakovanj ter nudi pomoč pri pomembnih življenjskih odločitvah. Kajti informacije so ključ za predvidevanje prihodnosti. 30 31 Tehnologijaje za mladeljudi. Mlade ljudi vseh starosti. Prihodnost je za vsakogar. Vsi imamo radi preprostost in jasnost. Zato je UniCredit ustvarila storitev Subito Banca via Internet, praktičen spletni bančni vmesnik z logično grafiko, intuitivnimi navigacijskimi gumbi in veliko pisavo. Naše spletne storitve želimo narediti enostavne za uporabo tudi tistim, ki niso seznanjeni z novimi tehnologijami. Ponujamo rešitve, ki temeljijo na željah več kot 300 strank, starih več kot 60 let, katerih mnenja smo zbrali na delavnicah v Italiji. Dokazujemo, da lahko vedno ustvarjamo inovacije na nov način. 40 46 Računovodski izkazi Računovodski izkazi Izkaz finančnega položaja Izkaz vseobsegajočega donosa Izkaz sprememb lastniškega kapitala Izkaz denarnih tokov Povzetek računovodskih usmeritev Pojasnila k računovodskim izkazom Bančna tveganja Izkaz finančnega položaja EUR 1.000 Vsebina Pojasnilo 31. 12. 2014 31. 12. 2013 Denar v blagajni, stanje na računih pri centralnih bankah in vpogledne vloge pri bankah 1 350.279 245.530 Finančna sredstva, namenjena trgovanju 2 16.368 15.394 Finančna sredstva, razpoložljiva za prodajo 3 354.360 251.352 Izvedeni finančni instrumenti, namenjeni varovanju 4 11.950 7.008 Krediti 5 1.797.196 1.913.724 Krediti bankam 41.484 13.245 Krediti strankam 1.743.570 1.895.472 Druga finančna sredstva 12.142 5.007 Finančna sredstva v posesti do zapadlosti 6 13.160 13.053 Opredmetena osnovna sredstva 7 7.327 9.163 Neopredmetena sredstva 8 18.802 19.472 Terjatve za davek od dohodkov pravnih oseb 9 7.637 11.868 Terjatve za davek - 1.004 Odložene terjatve za davek 7.637 10.864 Druga sredstva 10 1.653 1.993 SKUPAJ SREDSTVA 2.578.732 2.488.557 Finančne obveznosti, namenjene trgovanju 11 17.239 17.188 Izvedeni finančni instrumenti, namenjeni varovanju 12 53.415 47.356 Finančne obveznosti, merjene po odplačni vrednosti 13 2.253.031 2.185.970 Vloge bank in centralnih bank 425.935 323.731 Vloge strank 1.368.511 1.276.833 Krediti bank in centralnih bank 411.250 539.141 Podrejene obveznosti 30.110 30.117 Druge finančne obveznosti 17.225 16.148 Rezervacije 14 7.116 6.137 Druge obveznosti 15 3.930 4.191 SKUPAJ OBVEZNOSTI 2.334.731 2.260.842 Osnovni kapital 16 20.384 20.384 Kapitalske rezerve 17 107.760 107.760 Akumulirani drugi vseobsegajoči donos 18 11.222 (4.465) Rezerve iz dobička (vključno z zadržanim dobičkom) 19 104.335 104.036 Zadržani dobiček / izguba vključno s čistim dobičkom / izgubo poslovnega leta 20 300 - SKUPAJ KAPITAL 244.001 227.715 SKUPAJ OBVEZNOSTI IN KAPITAL 2.578.732 2.488.557 Pojasnila k računovodskim izkazom so sestavni del slednjih in jih je treba brati skupaj z njimi. Predsednik uprave Član uprave Članica uprave Član uprave Finančni direktor Računovodski izkazi Izkaz vseobsegajočega donosa Izkaz poslovnega izida EUR 1.000 Vsebina Pojasnilo 2014 2013 Prihodki iz obresti 21 82.345 90.255 Odhodki za obresti 22 (33.719) (41.866) Čiste obresti 48.626 48.389 Prihodki iz dividend 23 5 5 Prihodki iz opravnin (provizij) 24 31.726 28.652 Odhodki za opravnine (provizije) 25 (6.991) (5.198) Čiste opravnine (provizije) 24.735 23.454 Realizirani dobički / izgube iz finančnih sredstev in obveznosti, ki niso merjeni po pošteni vrednosti skozi izkaz poslovnega izida 26 (2.765) (130) Čisti dobički / izgube iz finančnih sredstev in obveznosti, namenjenih trgovanju 27 3.179 (694) Spremembe poštene vrednosti pri obračunavanju varovanj pred tveganji 28 (1.159) 2.570 Čisti dobički / izgube iz tečajnih razlik 29 (1.301) (523) Čisti dobički / izgube iz odprave pripoznanja sredstev brez nekratkoročnih sredstev v posesti za prodajo 30 (434) (95) Drugi čisti poslovni dobički / izgube 31 (666) (721) Administrativni stroški 32 (33.979) (34.977) Amortizacija 33 (5.113) (5.052) Rezervacije 34 (1.205) (3.948) Oslabitve 35 (29.312) (75.647) Čisti dobički / izgube iz nekratkoročnih sredstev v posesti za prodajo 36 2 (24) DOBIČEK / IZGUBA IZ REDNEGA POSLOVANJA 613 (47.393) Davek iz dohodka pravnih oseb 37 (14) 8.194 ČISTI DOBIČEK / IZGUBA POSLOVNEGA LETA 599 (39.199) Osnovni in popravljeni dobiček / izguba na delnico (EUR) 20 0,12 (8,02) Izkaz drugega vseobsegajočega donosa EUR 1.000 Vsebina Pojasnilo 2014 2013 Čisti dobiček / izguba poslovnega leta po obdavčitvi 599 (39.199) Drugi vseobsegajoči donos po obdavčitvi 18 15.687 14.272 Postavke, ki ne bodo prerazvrščene v poslovni izid 171 188 Aktuarski čisti dobički / izgube v zvezi s pokojninskimi načrti z določenimi zaslužki 205 227 Davek iz dohodka pravnih oseb v zvezi s postavkami, ki ne bodo prerazvrščene v poslovni izid (34) (39) Postavke, ki se lahko pozneje prerazporedijo v poslovni izid 15.516 14.084 Dobički / izgube v zvezi z varovanjem denarnih tokov (uspešni del varovanja) 18 4.477 3.200 Dobički / izgube iz prevrednotenja, izkazani v kapitalu 4.477 3.200 Dobički / izgube v zvezi s finančnimi sredstvi razpoložljivimi za prodajo 18 14.217 13.769 Dobički / izgube iz prevrednotenja, izkazani v kapitalu 13.583 (5.765) Prenos dobičkov / izgub v poslovni izid 634 19.534 Davek iz dohodka pravnih oseb v zvezi s postavkami, ki se lahko pozneje prerazvrstijo v poslovni izid 18 (3.178) (2.885) VSEOBSEGAJOČI DONOS POSLOVNEGA LETA PO OBDAVČITVI 16.286 (24.927) Predsednik uprave Član uprave Članica uprave Član uprave Finančni direktor Izkaz sprememb lastniškega kapitala EUR 1.000 Vsebina Osnovni kapital Kapitalske rezerve Akumulirani drugi vseobsegajoči donos Varovanje denarnih tokov Finančna sredstva razpoložljiva za prodajo Aktuarski čisti dobički / izgube za pokojninske programe Rezerve iz dobička Zadržani dobiček / izguba vključno s čistim dobičkom / izgubo poslovnega leta Skupaj kapital ZAČETNO STANJE V POSLOVNEM OBDOBJU 20.384 107.760 (9.006) 4.353 188 104.036 - 227.715 Vseobsegajoči donos poslovnega leta po obdavčitvi - - 3.716 11.800 171 - 599 16.286 Razporeditev čistega dobička v rezerve iz dobička - - --- 299 (299) - KONČNO STANJE V POSLOVNEM OBDOBJU 20.384 107.760 (5.290) 16.153 359 104.335 300 244.001 BILANČNI DOBIČEK POSLOVNEGA LETA 300 300 EUR 1.000 Vsebina Osnovni kapital Kapitalske rezerve Akumulirani drugi vseobsegajoči donos Varovanje denarnih tokov Finančna sredstva razpoložljiva za prodajo Aktuarski čisti dobički / izgube za pokojninske programe Rezerve iz dobička Zadržani dobiček / izguba vključno s čistim dobičkom / izgubo poslovnega leta Skupaj kapital ZAČETNO STANJE V POSLOVNEM OBDOBJU 20.384 107.760 (11.662) (7.075) - 141.679 537 251.623 Vseobsegajoči donos poslovnega leta po obdavčitvi - - 2.656 11.428 188 - (39.199) (24.927) Razporeditev čistega dobička v rezerve iz dobička - - --- (38.662) 38.662 - Drugo - - --- 1.019 - 1.019 KONČNO STANJE V POSLOVNEM OBDOBJU 20.384 107.760 (9.006) 4.353 188 104.036 - 227.715 BILANČNI DOBIČEK POSLOVNEGA - - LETA Pojasnila k računovodskim izkazom so sestavni del slednjih in jih je treba brati skupaj z njimi. Predsednik uprave Član uprave Članica uprave Član uprave Finančni direktor Računovodski izkazi Izkaz denarnih tokov EUR 1,000 Vsebina 2014 2013 A. DENARNI TOKOVI PRI POSLOVANJU a) Čisti poslovni izid pred obdavčitvijo 613 (47.393) Amortizacija 5.113 5.052 Oslabitve / (odprava oslabitve) finančnih sredstev, razpoložljivih za prodajo 783 19.534 Oslabitve / (odprava oslabitve) kreditov 28.529 56.113 Oslabitve opredmetenih osnovnih sredstev, naložbenih nepremičnin, neopredmetenih dolgoročnih sredstev in drugih sredstev 423 38 Čisti (dobički) / izgube iz tečajnih razlik 1.301 523 Neto (dobički) / izgube iz finančnih sredstev v posesti do zapadlosti (627) (643) Neto (dobički) / izgube pri prodaji opredmetenih osnovnih sredstev in naložbenih nepremičnin (5) (5) Drugi (dobički) / izgube iz financiranja 5.918 3.073 Druge prilagoditve čistega poslovnega izida pred obdavčitvijo (1.386) 1.284 Denarni tokovi pri poslovanju pred spremembami poslovnih sredstev in obveznosti 40.662 37.576 b) (Povečanja) / zmanjšanja poslovnih sredstev (brez denarnih ekvivalentov) (12.737) 243.278 Čisto (povečanje) / zmanjšanje finančnih sredstev, namenjenih trgovanju 441 93 Čisto (povečanje) / zmanjšanje finančnih sredstev, razpoložljivih za prodajo (89.574) (81.660) Čisto (povečanje) / zmanjšanje kreditov 80.998 319.533 Čisto (povečanje) / zmanjšanje izvedenih finančnih sredstev, namenjenih varovanju (4.943) 7.135 Čisto (povečanje) / zmanjšanje drugih sredstev 341 (1.823) c) Povečanja / (zmanjšanja) poslovnih obveznosti 67.721 (263.521) Čisto povečanje / (zmanjšanje) finančnih obveznosti, namenjenih trgovanju (80) (436) Čisto povečanje / (zmanjšanje) vlog in najetih kreditov, merjenih po odplačni vrednosti 58.475 (253.889) Čisto povečanje / (zmanjšanje) izvedenih finančnih obveznosti, namenjenih varovanju 9.587 (9.685) Čisto povečanje / (zmanjšanje) drugih obveznosti (261) 489 č) Denarni tokovi pri poslovanju (a+b+c) 95.646 17.333 d) (Plačani) / vrnjeni davek na dohodek pravnih oseb 1.001 290 e) Neto denarni tokovi pri poslovanju (č+d) 96.647 17.623 B. DENARNI TOKOVI PRI NALOŽBENJU a) Prejemki pri naložbenju 539 553 Prejemki pri prodaji opredmetenih osnovnih sredstev in naložbenih nepremičnin 19 33 Drugi prejemki iz naložbenja 520 520 b) Izdatki pri naložbenju (3.041) (3.769) (Izdatki pri nakupu opredmetenih osnovnih sredstev in naložbenih nepremičnin) (502) (612) (Izdatki pri nakupu neopredmetenih sredstev) (2.539) (3.157) c) Neto denarni tokovi pri naložbenju (a-b) (2.502) (3.216) C. Učinki spremembe deviznih tečajev na denarna sredstva in njihove ustreznike 4.337 (3.431) D. Čisto povečanje denarnih sredstev in denarnih ustreznikov (Ae+Bc) 94.145 14.407 E. Denarna sredstva in njihovi ustrezniki na začetku obdobja (Pojasnilo 38) 254.521 243.545 F. Denarna sredstva in njihovi ustrezniki na koncu obdobja (C+D+E) (Pojasnilo 38) 353.003 254.521 Pojasnila k računovodskim izkazom so sestavni del slednjih in jih je treba brati skupaj z njimi. Predsednik uprave Član uprave Članica uprave Član uprave Finančni direktor Povzetek računovodskih usmeritev Splošne informacije UniCredit Banka Slovenija d.d. je poslovna banka s sedežem v Sloveniji, ki nudi široko paleto finančnih storitev pravnim in fizičnim osebam. Banka je bila registrirana kot delniška družba 24. januarja 1991. Njen sedež je na Šmartinski cesti 140, Ljubljana, Slovenija. Dne 31. decembra 2014 je imela Banka skupno 28 poslovnih enot po vsej Sloveniji. Banka je hčerinska banka UniCredit Bank Austria AG. Matična banka Skupine je UniCredit S.p.A. s sedežem v Milanu, Piazza Gae Aulenti 3 - Tower A, Italija. Izkazi Banke so del konsolidiranih izkazov skupine UniCredit, ki so dosegljivi na https:// www.unicredit.it/. UniCredit Banka Slovenija d.d. ima dovoljenje za opravljanje bančnih storitev po 7. členu Zakona o bančništvu (v nadaljevanju: ZBan-1). Bančne storitve zajemajo sprejemanje depozitov od javnosti ter dajanje kreditov za svoj račun. Banka ima dovoljenje za opravljanje vzajemno priznanih in dodatnih finančnih storitev. Banka lahko opravlja naslednje vzajemno priznane finančne storitve po 10. členu ZBan-1: • sprejemanje depozitov; • dajanje kreditov, ki vključuje: – potrošniške kredite; – hipotekarne kredite; – odkup terjatev z regresom ali brez njega (factoring); – financiranje komercialnih poslov, vključno z izvoznim financiranjem na podlagi odkupa z diskontom in brez regresa dolgoročnih nezapadlih terjatev, zavarovanih s finančnim instrumentom (forfeiting); • finančni zakup (leasing): dajanje sredstev v zakup, katerega trajanje je približno enako pričakovani življenjski dobi sredstva, ki je predmet zakupa, in pri katerem zakupnik pridobi večino koristi od uporabe sredstev ter prevzame celotno tveganje posla; • plačilne storitve; • izdajanje in upravljanje drugih plačilnih instrumentov; • izdajanje garancij in drugih jamstev; • trgovanje za svoj račun ali za račun strank: -z instrumenti denarnega trga, - s tujimi plačilnimi sredstvi, vključno z menjalniškimi posli, -s standardiziranimi terminskimi pogodbami in opcijami, -z valutnimi in obrestnimi finančnimi instrumenti, -s prenosljivimi vrednostnimi papirji; • sodelovanje pri izdaji vrednostnih papirjev in storitve, povezane s tem; • svetovanje podjetjem glede kapitalske strukture, poslovne strategije in sorodnih zadev ter svetovanje in storitve v zvezi z združitvami in nakupom podjetij; • upravljanje z naložbami in svetovanje v zvezi s tem; • investicijske ter pomožne investicijske storitve in posli. Banka lahko opravlja naslednje dodatne finančne storitve po 11. členu ZBan-1: • posredovanje pri prodaji zavarovalnih polic po zakonu, ki ureja zavarovalništvo; • skrbniške storitve po zakonu, ki ureja investicijske sklade in družbe za upravljanje; • posredovanje finančnega zakupa (leasinga) in • posredovanje pri prodaji in odkupu investicijskih diamantov ter pri prodaji naložbenega zlata. Objavljene računovodske izkaze je uprava Banke potrdila 3. februarja 2015. Povzetek pomembnih računovodskih usmeritev Povzetek pomembnih računovodskih usmeritev, ki so uporabljene pri pripravi računovodskih izkazov, navajamo v nadaljevanju. Navedeno računovodsko politiko Banka uporablja za tekoče in primerjalno leto. IZjAVA O SKLADNOSTI Računovodski izkazi Banke so bili pripravljeni v skladu z Mednarodnimi standardi računovodskega poročanja in pojasnili, ki jih je objavil Odbor za mednarodne računovodske standarde (International Accounting Standards Board, IASB) in jih je sprejela Evropska unija (v nadaljevanju: MSRP). PODLAGA ZA MERjENjE Računovodski izkazi so pripravljeni v skladu z MSRP, pri čemer so kot podlaga za merjenje uporabljene izvirne vrednosti, razen ob merjenju finančnih instrumentov, namenjenih trgovanju, finančnih sredstev, pripoznanih po pošteni vrednosti skozi izkaz poslovnega izida, finančnih sredstev, razpoložljivih za prodajo in vseh izvedenih finančnih instrumentov, kjer so kot podlaga za merjenje uporabljene njihove poštene vrednosti. UPORABA OCEN IN PREDPOSTAVK Pri pripravi računovodskih izkazov mora uprava pripraviti presoje, ocene in predpostavke, ki vplivajo na uporabo računovodskih usmeritev ter na izkazane zneske sredstev, obveznosti, prihodkov in odhodkov. Dejanski rezultati lahko odstopajo od ocen. Banka redno pregleduje ocene in osnovne predpostavke zanje. Spremembe računovodskih ocen se pripoznajo v obdobju, v katerem je ocena spremenjena ter v prihodnjih obdobjih, na katera vpliva. a) Opredelitev poštene vrednosti Banka dnevno vrednoti izvedene finančne instrumente, finančna sredstva, namenjena trgovanju, kot tudi finančna sredstva, razpoložljiva za prodajo, na pošteno vrednost instrumenta. Opredelitev poštene vrednosti teh finančnih instrumentov zahteva uporabo metod vrednotenja, če tržna cena ni na razpolago. Za finančne instrumente, s katerimi se ne trguje pogosto in katerih cenovna transparentnost je nizka, je poštena vrednost manj objektivna in zahteva različno določene predpostavke, odvisne od več dejavnikov. Računovodski izkazi Povzetek računovodskih usmeritev Glede na opredelitev poštene vrednosti, v skladu z MSRP 7 Banka razvršča finančna sredstva na tri ravni, ki so: • Raven 1: Kot poštena vrednost se uporabi kotirana cena na delujočem trgu za identičen instrument. • Raven 2: Poštena vrednost se določi na osnovi modelov vrednotenja, ki temeljijo predvsem na tržnih podatkih. Raven 2 vključuje tudi finančna sredstva, katerih poštena vrednost je določena na osnovi kotirane cene za identičen instrument, vendar zanje ne obstaja delujoč trg. • Raven 3: Poštena vrednost se določi na osnovi modelov vrednotenja, ki ne temeljijo na zaznavnih tržnih podatkih. Vložek se šteje kot zaznavni vložek, če je tržna cena neposredno na razpolago ali jo je možno izpeljati iz tržne cene. Primeri vložkov za Raven 3 so denimo pretekle volatilnosti ali obrestne mere za valute ter zapadlosti, za katere niso na razpolago finančni instrumenti s tržno ceno. Če vrednost finančnega instrumenta temelji na dejavnikih, za katere tržna cena ni na razpolago, lahko ob koncu obdobja poročanja vrednost teh dejavnikov izberemo iz nabora razumnih možnih alternativ. Za namen priprave finančnih izkazov so razumne vrednosti, ki so izbrane za takšne vložke, za katere ni na voljo tržne cene, usklajene s prevladujočimi razmerami na trgu ter s pristopom Banke, kar zadeva kontrolo vrednotenja. b) Oslabitve Oslabitve finančnih sredstev po odplačni vrednosti Banka ima natančno določen postopek in notranjo politiko za spremljanje finančnih sredstev in rezervacij za prevzete obveznosti ter oblikovanje oslabitev. Pri politiki za oblikovanje oslabitev Banka sledi sklepu Banke Slovenije o oblikovanju izgub iz kreditnega tveganja bank in hranilnic in zahtevam mednarodnih standardov računovodskega poročanja. Banka uporablja dva pristopa za oblikovanje oslabitev - skupinski in posamični. Za stranke iz segmenta poslovanja s podjetji, ki pomembno zamujajo s poravnavo obveznosti, se oslabitve finančnih sredstev v UniCredit Banka Slovenija d.d. ocenjujejo posamično, za segmente poslovanja s prebivalstvom pa skupinsko, in sicer glede na primerno oceno sedanje vrednosti pričakovanega denarnega toka. Kvaliteto strank Banka ocenjuje enkrat mesečno in na podlagi tega oblikuje oslabitve, postopek pa je urejen z internimi navodili in ima ustrezno informacijsko podporo. Posamične oslabitve Banka oblikuje (na ravni stranke ali posla) ob upoštevanju spodnjih kriterijev: • v okviru ocenjevanja denarnih tokov Banka presoja tako finančno poslovanje stranke kot tudi njeno preteklo plačilno (ne)disciplino in način odplačevanja; • morebitne kršitve posojilnih pogodb ali pogojev; • stečaj ali druge pravne postopke, ki imajo lahko za posledico izgubo za Banko iz te naložbe; • informacije, ki imajo lahko vpliv na izpad prejetih odplačil za Banko. Pri tem predstavlja oslabitev finančnega sredstva razliko med knjigovodsko in nadomestljivo vrednostjo. Nadomestljiva vrednost je opredeljena kot sedanja vrednost (diskontirana vrednost) pričakovanih prihodnjih denarnih tokov ob uporabi izvirne efektivne obrestne mere (t.j. obrestna mera, ki natančno razobrestuje (diskontira) pričakovane prihodnje denarne tokove skozi obdobje pričakovane dobe finančnega sredstva ali, če je primerneje, skozi krajše obdobje na čisto knjigovodsko vrednost finančnega sredstva). Pri oceni oslabitev Banka lahko upošteva tudi pričakovane denarne tokove iz unovčitve prvovrstnih in primernih zavarovanj. V segmentu poslovanja s prebivalstvom Banka spremlja boniteto strank na podlagi podatkov pridobljenih iz njene vloge pri Banki in podatkov pridobljenih za obstoječe stranke na podlagi njihovega poslovanja z Banko. Interno so stranke iz tega segmenta na podlagi posameznih verjetnosti neplačila razvrščene v 26 bonitetnih razredov. Banka za segment poslovanja s prebivalstvom oblikuje posamične oslabitve portfeljsko, in sicer vsaj enkrat mesečno. Na podlagi kakovosti portfelja so izračunani kazalniki, ki so skladno s standardi pomembni za izračun pričakovanih izgub (Expected loss) na ravni posamezne stranke. Pri strankah, kjer ni pripoznanih pomembnih zamud s poravnavo obveznosti, Banka oblikuje skupinske oslabitve na podlagi razvrščanja strank v bonitetne razrede. Pri izračunavanju potrebe za skupinske slabitve vodstvo Banke upošteva dejavnike, kot so kakovost posojil, velikost portfelja in ekonomske dejavnike, vključno z analizo pretekle plačilne discipline v teh razredih. Oslabitve za nastale vendar še ne izkazane izgube (IBNR) se izračunavajo na mesečni ravni, temeljijo pa na kakovosti portfelja in na tako imenovanem obdobju evidentiranja izgube (Loss detection period). IBNR (Incurred but not reported) tako predstavljajo splošne oslabitve. Potreba po morebitnih oslabitvah finančnih sredstev v posesti do zapadlosti se ugotavlja, če obstajajo nepristranski dokazi o oslabljenosti, to so pomembne finančne težave izdajatelja, verjetnost, da bo izdajatelj šel v stečaj ter drugih pomembnih podatkih, ki kažejo, da obstaja izmerljivo zmanjšane ocenjenih prihodnjih denarnih tokov. Če taki dokazi obstajajo, se znesek izgube izmeri kot razlika med knjigovodsko vrednostjo sredstva in sedanjo vrednostjo pričakovanih prihodnjih denarnih tokov. Oslabitve finančnih sredstev razpoložljivih za prodajo Isti nepristranski dokazi kažejo tudi na oslabljenost finančnih sredstev, ki so na razpolago za prodajo. Izguba zaradi oslabitve se pripozna, kadar pride do pomembnega ali dolgotrajnega padca poštene vrednosti pod nabavno vrednost teh finančnih sredstev. Banka kot objektivni dokaz o oslabitvi finančnih naložb v kapitalske instrumente iz skupine finančnih sredstev, razpoložljivih za prodajo, šteje pomembno ali dolgotrajnejše zmanjšanje poštene vrednosti pod njihovo nabavno vrednostjo. Kadar Banka na taki podlagi ugotovi, da je finančna naložba oslabljena, celotno izgubo iz vrednotenja tega instrumenta prenese v poslovni izid. Več podrobnosti pa je navedeno v poglavju Bančna tveganja. začetnem pripoznanju označi po pošteni vrednosti skozi poslovni izid; • tistih, ki jih Banka po začetnem pripoznanju označi kot razpoložljiva za prodajo; • tistih, za katere imetnik morda ne dobi povrnjene skoraj celotne pripoznane začetne naložbe, vendar ne zaradi poslabšanja kreditne sposobnosti, ki se uvrstijo kot na razpolago za prodajo. Posojila in terjatve se izkazujejo po odplačni vrednosti. Banka pripozna posojila in terjatve na datum plačila oz. kadar postane del pogodbenih določb v finančnem instrumentu ter odpravi njihovo pripoznanje na datum plačila oz. ko potečejo pogodbene pravice do denarnih tokov iz finančnega sredstva. Prihodki iz obresti od oslabljenih posojil in terjatev so oslabljeni v enakem odstotku kot glavnica. V poglavju Uporaba ocen in predpostavk je opredeljeno, kako jih Banka oslabi. Posojila in terjatve zajemajo tudi druga finančna sredstva, to so terjatve za provizije, ki ne sodijo v izračunavanje odplačne vrednosti finančnih sredstev, prehodno nezaračunane prihodke za bančne produkte, terjatve za prodana finančna sredstva, terjatve do kupcev in terjatve v obračunu iz poslovnih razmerij. c) Finančne naložbe v posesti do zapadlosti v plačilo Finančne naložbe v posesti do zapadlosti v plačilo so neizpeljana finančna sredstva z določenimi ali določljivimi plačili in določeno zapadlostjo v plačilo, ki jih Banka nedvoumno namerava in zmore posedovati do zapadlosti. Finančne naložbe v posesti do zapadlosti v plačilo se izkazujejo po odplačni vrednosti. V poglavju Uporaba ocen in predpostavk je opredeljeno, kako jih Banka oslabi. d) Za prodajo razpoložljiva finančna sredstva Za prodajo razpoložljiva finančna sredstva so tista neizpeljana finančna sredstva, ki so označena kot razpoložljiva za prodajo ali pa niso uvrščena kot posojila in terjatve, finančne naložbe v posesti do zapadlosti v plačilo ali finančna sredstva po pošteni vrednosti skozi poslovni izid. Ta portfelj vključuje lastniške in dolžniške vrednostne papirje. Po prvotnem izkazovanju se za prodajo razpoložljiva finančna sredstva izmerijo po njihovih poštenih vrednostih. Tržna vrednost na borzi ne odraža vedno poštene vrednosti dolžniških vrednostnih papirjev. V tem primeru Banka ugotavlja pošteno vrednost dolžniških vrednostnih papirjev z metodo vrednotenja preko modela, kjer pri določitvi cene upošteva krivuljo obrestne zamenjave in premijo za kreditno tveganje za določen dolžniški vrednostni papir. Premija za kreditno tveganje se določi s pomočjo primerljivih obveznic z enako zapadlostjo. Pošteno vrednost lastniških vrednostnih papirjev, ki ne kotirajo na borzi, pa Banka ugotavlja z uporabo ustreznih modelov. Sprememba poštene vrednosti pri finančnem sredstvu, ki je na razpolago za prodajo, se pripozna neposredno v izkazu drugega vseobsegajočega donosa, razen izgub zaradi oslabitve in deviznih dobičkov in izgub, dokler se za finančno sredstvo ne odpravi pripoznanja in tedaj je prej pripoznani nabrani dobiček ali izguba pripoznan/a v poslovnem izidu. Obresti, izračunane po metodi veljavnih obresti, se obračunavajo dnevno in se pripoznajo v poslovnem izidu. Dividende za kapitalski instrument, ki je na razpolago za prodajo, se pripoznajo v poslovnem izidu, ko je uveljavljena pravica Banke do plačila. V poglavju Uporaba ocen in predpostavk je opredeljeno, kako jih Banka oslabi. IZVEDENI FINANČNI INSTRUMENTI V svojem rednem poslovanju Banka sklepa posle z izvedenimi finančnimi instrumenti, ki predstavljajo majhno začetno naložbo v primerjavi z nazivno vrednostjo pogodbe. Uporabljani izvedeni finančni instrumenti vključujejo obrestne, valutne in blagovne terminske pogodbe (forward), zamenjave (swap) in opcije (option). Banka uporablja te finančne instrumente za varovanje pred obrestnim in valutnim tveganjem, s katerima se srečuje pri svojem poslovanju na finančnih trgih, aktivno odpira svoje pozicije ter jih prodaja strankam. Izvedeni finančni instrumenti se v izkazu finančnega položaja pripoznajo po pošteni vrednosti. Poštene vrednosti so določene na podlagi objavljenih cen na delujočem trgu, z uporabo modelov diskontiranih denarnih tokov ali uporabo modelov za opcijsko vrednotenje, odvisno od posameznega izvedenega finančnega instrumenta ter upoštevajoč kreditno tveganje nasprotne stranke. Spremembe poštene vrednosti izvedenih finančnih instrumentov, ki ne predstavljajo instrumentov za varovanje pred tveganjem, se izkazujejo v postavki »Čisti dobički / izgube iz finančnih sredstev in obveznosti, namenjenih trgovanju«. Vse izvedene finančne instrumente se izkazuje kot sredstva, če je njihova poštena vrednost pozitivna, in kot obveznosti, če je ta negativna. Poštena vrednost obrestnih in valutnih izvedenih finančnih instrumentov je njihova tržna cena v sistemu Murex. Murex je IT platforma na ravni Skupine za področje Finančni trgi in zakladništvo. INSTRUMENTI ZA VAROVANjE PRED TVEGANjEM a) Varovanje poštene vrednosti pred tveganjem V letu 2014 Banka ni izvajala varovanja poštene vrednosti pred tveganjem. b) Varovanje denarnih tokov pred tveganjem V skladu z MSRP varovanje denarnih tokov služi varovanju pred negotovimi (variabilnimi) denarnimi tokovi v prihodnje. S tem namenom so obrestni denarni tokovi varovanih postavk in povezani izvedeni instrumenti, ki so označeni kot instrumenti varovanja pred tveganjem, projicirani v prihodnost (predvidene transakcije). iz poslovnih razmerij, obveznosti do dobaviteljev in druge poslovne obveznosti, ki ustrezajo definiciji finančnega instrumenta. REZERVACIjE Rezervacija se pripozna, če ima Banka zaradi preteklega dogodka sedanjo obvezo, če je verjetno, da bo pri poravnavi obveze potreben odtok dejavnikov, ki omogočajo gospodarske koristi, in če je mogoče zanesljivo oceniti znesek obveze. Rezervacije se oblikujejo za: • potencialne izgube v zvezi s tveganji, ki izhajajo iz zunajbilančnih postavk; • jubilejne nagrade in odpravnine; • potencialne izgube v zvezi s pravdnimi spori, v katerih je Banka udeležena oziroma obstaja nevarnost, da bo udeležena; • druge dogodke, za katere je zelo verjetno, da bo Banka utrpela odliv finančnih sredstev. IZKAZ DENARNIh TOKOV Pri poročanju o denarnih tokovih so denarna sredstva opredeljena kot denar v blagajni in na transakcijskih računih pri bankah, vključno z obveznimi rezervami pri Banki Slovenije. Denarni ustrezniki so opredeljeni kot kratkoročne hitro unovčljive naložbe, ki so takoj pretvorljive v znane zneske denarnih sredstev in pri katerih je tveganje spremembe vrednosti nepomembno. Banka sestavi izkaz denarnih tokov po posredni metodi. Za prikaz denarnih tokov pri poslovanju Banka poslovni izid pred obdavčitvijo dopolni z učinki naslednjih nedenarnih postavk: amortizacija, oslabitve, dobički in izgube iz tečajnih razlik, dobički in izgube iz finančnih sredstev v posesti do zapadlosti, dobički in izgube pri prodaji opredmetenih osnovnih sredstev in neopredmetenih dolgoročnih sredstev, iz financiranja, čisti nerealizirani dobički v akumuliranem drugem vseobsegajočem donosu iz finančnih sredstev, razpoložljivih za prodajo in iz varovanja denarnih tokov pred tveganji. V skladu s Sklepom o poslovnih knjigah in letnih poročilih bank in hranilnic Banka ne glede na to, da sestavi izkaz denarnih tokov po posredni metodi, za prikaz denarnih tokov pri naložbenju in denarnih tokov pri financiranju uporabi neposredno metodo. UGODNOSTI ZAPOSLENIh Banka svojim zaposlenim izplačuje jubilejne nagrade in odpravnine ob upokojitvi. Zaposleni so upravičeni do jubilejnih nagrad, če so v Banki neprekinjeno zaposleni določeno časovno obdobje. Do odpravnin so upravičeni tisti zaposleni, ki se upokojijo in so bili pred tem v Banki zaposleni določeno minimalno časovno obdobje. Rezervacije so izračunane le za osebe, zaposlene za nedoločen čas. Sedanjo vrednost obvez za izplačilo jubilejnih nagrad in odpravnin je izračunal za to usposobljen aktuar z uporabo metode predvidene pomembnosti enot. Ključne aktuarske predpostavke, uporabljene pri izračunu sedanje vrednosti omenjenih obvez, so naslednje: • diskontna mera – kot diskontna mera so uporabljeni na dan izkaza finančnega položaja znani tržni donosi obveznic, katerih izdajatelji so družbe iz evro območja; • ocenjeno povečanje prihodnjih plač; • stopnje smrtnosti – tabela smrtnosti v Sloveniji v letih 2000 – 2002; • fluktuacija zaposlenih na podlagi zabeleženih podatkov o zaposlenih v Banki v prejšnjih letih; • starost ob upokojitvi: 65 let ne glede na spol; • tekoči podatki o zaposlenih v Banki (trajanje zaposlitve, starost, spol, povprečni zaslužki); • povprečna mesečna plača v Republiki Sloveniji. Znesek obvez, ki izhajajo iz jubilejnih nagrad in odpravnin zaposlenim, je pripoznan kot sedanja vrednost pričakovanih prihodnjih plačil. Aktuarski dobički in izgube za odpravnine so pripoznani v akumuliranem drugem vseobsegajočem donosu. Banka plačuje prispevke za pokojninsko zavarovanje v skladu z zakonodajo. Prispevki predstavljajo stroške v obdobju, na katerega se nanašajo, in so v izkazu poslovnega izida prikazani med stroški dela. PLAČILO Z DELNICAMI V skladu z MSRP 2 je skupina UniCredit vzpostavila srednje- do dolgoročen program nagrajevanja z delnicami in delniškimi opcijami UniCredit S.p.A. Program je bil vzpostavljen z namenom spodbujanja pripadnosti in motivacije izbranih managerjev in zaposlenih k doseganju strateških ciljev Skupine. Plačilne transakcije so poravnane s kapitalom. V skladu z MSRP so članice Skupine, katerih zaposlenim so bile dodeljene delnice, zavezane plačati matični družbi izmerjeno obveznost za razporeditev njihovim zaposlenim. DELNIŠKI KAPITAL Delniški kapital je sestavljen iz vpoklicanega osnovnega kapitala, kapitalskih rezerv, akumuliranega drugega vseobsegajočega donosa (pri poslih z vrednostnimi papirji, razpoložljivimi za prodajo, pri varovanju denarnih tokov in pri aktuarskih čistih dobičkih / izgubah za pokojninske programe), rezerv iz dobička in čistega dobička poslovnega leta. Le čisti dobiček poslovnega leta je izplačljiv. POGOjNE OBVEZNOSTI IN PREVZETE FINANČNE OBVEZNOSTI Prevzete finančne obveznosti za jamstva (garancije), tako finančna kot storitvena, predstavljajo nepreklicne obveze Banke za plačila, če komitent Banke ne izpolni svojih obveznosti do tretjih oseb. Merjeni so v skladu z MRS 37. Listinski akreditivi so nepreklicne pogojne obveznosti Banke, ki na zahtevo stranke (kupca) izvrši ali sprejme plačilo upravičenca (prodajalca), ali plača ali sprejme menice, ki jih je dvignil upravičenec ob predložitvi predpisanih dokumentov, skladno z izpolnjenimi zahtevami izdanega akreditiva. Listinski akreditivi so zavarovani, podobno kot posojila oz. prevzete finančne obveznosti za jamstva, glede na kreditno sposobnost in uspešnost posojilojemalca. Osnovni namen prevzetih in nepreklicnih obveznosti iz odobrenih posojil je, skladno s sklenjenim dogovorom, zagotovitev sredstev komitentu Banke. Prevzete in nepreklicne obveznosti iz odobrenih posojil sestavljajo nečrpana sredstva iz odobrenih posojil in neporabljeni, odobreni limiti na transakcijskih računih komitentov Banke. Računovodski izkazi Povzetek računovodskih usmeritev Tveganja, povezana s pogojnimi obveznostmi in prevzetimi finančnimi obvezami, se ocenjujejo podobno kot tveganja pri odobrenih posojilih, pri čemer so upoštevani kreditna sposobnost in uspešnost posojilojemalca ter vrednosti prejetih zavarovanj in garancij tretjih strank. OBRESTNI PRIhODKI IN ODhODKI V izkazu poslovnega izida se obrestni prihodki in odhodki pripoznajo v ustreznem obdobju po metodi veljavnih obresti. PRIhODKI IN ODhODKI IZ PROVIZIj Prejete in dane provizije se običajno pripoznajo na dan zaključka izvedene transakcije. Provizije, ki se nanašajo na daljše časovno obdobje, Banka razmejuje. NAjEMI Banka ima v poslovnem najemu poslovne prostore. Najemnine se pripoznajo kot strošek po enakomerni časovni metodi v celotni dobi najema. OBDAVČENjE Davki se izračunavajo v skladu s predpisi o davku od dohodkov pravnih oseb. Na splošno obdavčljiv dobiček temelji na dobičku ali izgubi, pripoznani v izkazu poslovnega izida, ki je pripravljen v skladu z MSRP. Prilagojen je v skladu z davčnimi predpisi. Odhodek za davek (prihodek od davka) obsega odmerjeni odhodek za davek (odmerjeni prihodek od davka) in odloženi odhodek za davek (odloženi prihodek od davka). Za leti 2014 in 2013 je davčna stopnja za davek od dohodkov pravnih oseb in za odložene davke 17 %. Odloženi davki so namenjeni pokrivanju začasne razlike, ki nastane med davčno vrednostjo sredstev in obveznosti ter njihovo knjigovodsko vrednostjo v izkazu finančnega položaja. Odložene obveznosti za davek so zneski davka iz dobička, ki jih bo treba poravnati v prihodnjih obdobjih glede na obdavčljive začasne razlike. Odložene terjatve za davek so zneski davka iz dobička, ki bodo povrnjeni v prihodnjih obdobjih glede na odbitne začasne razlike, prenos neizrabljenih davčnih izgub v naslednja obdobja in prenos neizrabljenih davčnih dobropisov v naslednja obdobja. Banka mora plačevati različne posredne davke iz poslovanja. Ti so vključeni kot sestavina administrativnih stroškov. Davek na bilančno vsoto je pripoznan v postavki »Drugi čisti poslovni dobički / izgube«. Davek na finančne storitve znižuje prihodke, na katere se nanaša. POSLOVANjE PO POOBLASTILIh IN POSREDNIŠKO POSLOVANjE Sredstva, ki jih Banka upravlja kot pooblaščenec, zaupnik ali posrednik, niso sredstva Banke in kot taka niso vključena v računovodske izkaze Banke. S tem poslovanjem Banka zasluži provizijo, ki je izkazana kot Opravnina od posredniških in komisijskih poslov v izkazu poslovnega izida Banke. REGULATORNE ZAhTEVE Za Banko veljajo regulatorne zahteve Banke Slovenije. Ti predpisi vključujejo limite in druge omejitve, ki se nanašajo na zahteve za minimalno kapitalsko ustreznost, klasifikacijo posojil in zunajbilančnih obveznosti in rezervacij za kritje kreditnega tveganja, likvidnosti, obrestnih in deviznih pozicij. Prav tako pojasnila o poslovanju po pooblastilu in o posredniškem poslovanju zahteva Banka Slovenije, ne zahtevajo jih MSRP. 31. decembra 2014 sta bila Banka in njeno poslovanje v vseh pomembnih pogledih usklajena z zakonodajnimi zahtevami. POVEZANE OSEBE Povezane osebe so: • podjetja, ki neposredno ali posredno prek enega ali več posrednikov obvladujejo ali jih obvladujejo druga podjetja, ali pa so pod skupnim upravljanjem poročajočega podjetja; • ključno ravnateljsko osebje, torej posamezniki, ki imajo izvršilno moč in odgovornost na področjih načrtovanja, usmerjanja in nadziranja dejavnosti Banke; • ožji člani družine ključnega ravnateljskega osebja, ki so lahko zakonec oziroma partner posameznika in otroci, otroci zakonca oziroma partnerja posameznika ter družinski člani, ki jih vzdržuje posameznik ali zakonec oziroma partner; • in podjetja, v katerih ima neposredno ali posredno bistven delež pri glasovanju kakšen posameznik, opisan zgoraj, ali na katerega tak posameznik lahko pomembno vpliva. Sem sodijo podjetja v lasti članov uprave ali glavnih delničarjev Banke in podjetja, ki imajo z Banko kakšnega skupnega ključnega člana vodstva. Pri proučevanju vseh možnih oblik povezav med strankami je pozornost namenjena zlasti vsebini povezave in ne le pravni obliki. Pojasnilo 5: Krediti Krediti bankam EUR 1.000 31. 12. 2014 31. 12. 2013 Kratkoročni krediti 37.744 9.157 Dolgoročni krediti 1.798 3.832 Terjatve iz danih jamstev bankam 1.942 256 Skupaj 41.484 13.245 Banka ni pripoznala oslabitev za kredite bankam niti na dan 31. december 2013 niti na dan 31. december 2014, ker ni bilo znamenj oslabitve. Krediti strankam EUR 1.000 Bruto vrednost 31. 12. 2014 Oslabitve Neto vrednost Bruto vrednost 31. 12. 2013 Oslabitve Neto vrednost Kratkoročni 223.439 (69.455) 153.984 227.103 (57.977) 169.126 Podjetja 180.422 (55.586) 124.836 183.065 (44.227) 138.838 Finančne institucije 8.558 (7.827) 731 9.190 (7.757) 1.433 Javni sektor 16 (2) 14 252 (1) 251 Prebivalstvo 30.662 (4.206) 26.456 30.269 (4.317) 25.952 Samostojni podjetniki 3.322 (1.473) 1.849 3.840 (1.261) 2.579 Neprofitni izvajalci storitev gospodinjstvom 459 (361) 98 487 (414) 73 Dolgoročni 1.713.365 (123.779) 1.589.586 1.831.263 (104.917) 1.726.346 Podjetja 730.651 (90.651) 640.000 820.206 (75.523) 744.683 Finančne institucije 3.913 (1.448) 2.465 4.039 (760) 3.279 Javni sektor 237.469 (211) 237.258 227.905 (271) 227.634 Prebivalstvo 722.113 (28.250) 693.863 756.791 (25.255) 731.536 Samostojni podjetniki 16.599 (3.195) 13.404 19.422 (3.078) 16.344 Neprofitni izvajalci storitev gospodinjstvom 2.620 (24) 2.596 2.900 (30) 2.870 Skupaj 1.936.804 (193.234) 1.743.570 2.058.366 (162.894) 1.895.472 Stanje kreditov zaposlenim na dan 31. december 2014 znaša 20.888 tisoč evrov, na dan 31. december 2013 pa je znašalo 22.383 tisoč evrov. Oslabitve kreditov strankam EUR 1.000 2014 2013 Začetno stanje (162.894) (106.751) Oblikovane oslabitve (65.685) (77.878) Negativne tečajne razlike (1.921) (3.916) Oblikovane oslabitve, ki zmanjšujejo čiste obresti (5.595) (3.731) Odpravljene oslabitve 37.086 22.648 Pozitivne tečajne razlike 1.559 4.181 Odpravljene oslabitve, ki povečujejo čiste obresti 4.216 2.553 Končno stanje (193.234) (162.894) Pojasnilo 7: Opredmetena osnovna sredstva EUR 1.000 Vlaganja v tuje Računalniška 2014 Oprema v objekte oprema Druga oprema pripravi Skupaj Nabavna vrednost Začetno stanje 12.189 5.838 6.347 151 24.525 Povečanje 100 - - 404 504 Prenos iz opreme v pripravi - 371 106 (477) - Izločitev (1.141) (73) (146) - (1.360) Končno stanje 11.148 6.136 6.307 78 23.669 Amortizacijski popravek vrednosti Začetno stanje 7.167 3.941 4.254 - 15.362 Amortizacija za leto 890 688 510 - 2.088 Izločitev (910) (70) (128) - (1.108) Končno stanje 7.147 4.559 4.636 - 16.342 Čista knjigovodska vrednost Začetno stanje 5.022 1.897 2.093 151 9.163 Končno stanje 4.001 1.577 1.671 78 7.327 EUR 1.000 Vlaganja v tuje Računalniška 2013 Oprema v objekte oprema Druga oprema pripravi Skupaj Nabavna vrednost Začetno stanje 12.218 5.270 6.483 481 24.452 Povečanje 31 - - 582 613 Prenos iz opreme v pripravi - 836 76 (912) - Izločitev (60) (268) (212) - (540) Končno stanje 12.189 5.838 6.347 151 24.525 Amortizacijski popravek vrednosti Začetno stanje 6.286 3.573 3.846 - 13.705 Amortizacija za leto 908 632 591 - 2.131 Izločitev (27) (264) (183) - (474) Končno stanje 7.167 3.941 4.254 - 15.362 Čista knjigovodska vrednost Začetno stanje 5.932 1.697 2.637 481 10.747 Končno stanje 5.022 1.897 2.093 151 9.163 Banka na dan 31. december 2014 nima pogodbenih obveznosti za pridobitev opredmetenih osnovnih sredstev (na dan 31. december 2013 16 tisoč evrov). Pri vlaganjih v tuje objekte Banka nima možnosti prodaje teh, prav tako nobenih drugih pogodbenih obveznosti v zvezi z njimi. Banka nima stroškov izposojanja povezanih z opredmetenimi osnovnimi sredstvi, zato jih tudi ni usredstvila. Računovodski izkazi Pojasnila k računovodskim izkazom Vloge strank EUR 1.000 31. 12. 2014 31. 12. 2013 Na vpogled 715.514 585.516 Podjetja 386.966 243.820 Finančne institucije 51.543 147.536 Javni sektor 53.710 26.284 Prebivalstvo 202.455 157.387 Samostojni podjetniki 17.555 8.624 Neprofitni izvajalci storitev gospodinjstvom 3.285 1.865 Kratkoročne vloge 485.186 464.338 Podjetja 225.101 236.176 Finančne institucije 49.956 49.558 Javni sektor 24.050 35.139 Prebivalstvo 178.585 140.799 Samostojni podjetniki 3.926 259 Neprofitni izvajalci storitev gospodinjstvom 3.568 2.407 Dolgoročne vloge 167.811 226.979 Podjetja 19.957 16.722 Finančne institucije 1.216 10.670 Javni sektor 8.093 2.770 Prebivalstvo 134.915 194.169 Samostojni podjetniki 98 104 Neprofitni izvajalci storitev gospodinjstvom 3.532 2.544 Skupaj 1.368.511 1.276.833 Podrejene obveznosti EUR 1.000 31. 12. 2014 31. 12. 2013 Podrejene obveznosti do bank 30.110 30.117 Skupaj 30.110 30.117 Banka je v letu 2008 najela 10-letno linijo za črpanje podrejenega posojila v višini 20.000 tisoč evrov z obrestno mero EURIBOR + 1,1 %. V letu 2009 je Banka najela dodatno 10-letno linijo za črpanje podrejenega posojila v višini 10.000 tisoč evrov z obrestno mero EURIBOR + 3 %. Posojili sta najeti od UniCredit Bank Austria AG, Dunaj in sta obe v celoti črpani. Druge finančne obveznosti EUR 1.000 31. 12. 2014 31. 12. 2013 Sredstva za nakazilo v tujino 2.201 2.866 Obveznosti za provizije 29 209 Obveznosti v obračunu 2.821 4.731 Obveznosti do dobaviteljev 904 1.074 Vnaprej vračunani odhodki in stroški 4.475 3.761 Druge poslovne obveznosti 6.795 3.507 Skupaj 17.225 16.148 Bilanca stanja iz poslovanja po pooblastilu Pojasnilo 40: Poslovanje po pooblastilu EUR 1.000 31. 12. 2014 31. 12. 2013 Denarna sredstva strank za posredovanje s finančnimi instrumenti 5.213 3.336 Terjatve iz poslov gospodarjenja s finančnimi instrumenti 28.540 19.422 Terjatve po skrbniških poslih 8.487.040 5.281.706 Terjatve do KDD za prodane finančne instrumente 44 1.708 Terjatve do drugih poravnalnih sistemov in institucij za prodane finančne instrumente (kupcev) 1.837 829 Terjatve iz poravnalnega poslovanja 2.546 1.709 Terjatve iz drugih poslov v tujem imenu in za tuj račun 189.676 82.361 Skupaj sredstva 8.714.896 5.391.071 Obveznosti do strank iz denarnih sredstev in finančnih instrumentov 33.755 22.758 Obveznosti do KDD za kupljene finančne instrumente 2.546 1.465 Obveznosti do drugih poravnalnih sistemov in institucij za kupljene finančne instrumente (dobaviteljev) 8.486.364 5.282.768 Obveznosti do banke za provizije, stroške ipd. 9 10 Obveznosti iz poravnalnega poslovanja 2.546 1.708 Obveznosti iz drugih poslov v tujem imenu in za tuj račun 189.676 82.362 Skupaj obveznosti 8.714.896 5.391.071 Pojasnilo 41: Posredniško poslovanje EUR 1.000 31. 12. 2014 31. 12. 2013 Terjatve poravnalnega oz. transakcijskih računov za sredstva strank 8.517.461 5.303.665 Iz finančnih instrumentov 8.515.580 5.301.128 Do KDD oz.obračunskega računa banke za prodane finančne instrumente 44 1.708 Do drugih poravnalnih sistemov in institucij za prodane finančne instrumente (kupcev) 1.837 829 Denarna sredstva strank 5.213 3.336 Na poravnalnem računu za sredstva strank 1.693 488 Na transakcijskih računih bank 3.520 2.848 Skupaj sredstva 8.522.674 5.307.001 Obveznosti poravnalnega oz. transakcijskih računov za sredstva strank 8.522.674 5.307.001 Do strank iz denarnih sredstev in finančnih instrumentov 33.755 22.758 Do KDD oz. obračunskega računa banke za kupljene finančne instrumente 2.546 1.465 Do drugih poravnalnih sistemov in institucij za kupljene finančne instrumente (dobaviteljev) 8.486.364 5.282.768 Do banke oz. poravnalnega računa za provizije, stroške, ipd. 9 10 Skupaj obveznosti 8.522.674 5.307.001 Zabilančna evidenca 8.515.580 5.301.128 Finančni instrumenti, ločeno po storitvah 8.515.580 5.301.128 Gospodarjenje s finančnimi instrumenti 28.540 19.422 Skrbniški posli 8.487.040 5.281.706 Računovodski izkazi Pojasnila k računovodskim izkazom Prihodki in odhodki iz opravnin v zvezi z investicijskimi storitvami in posli EUR 1.000 2014 2013 Prihodki iz opravnin (provizij) v zvezi z investicijskimi in pomožnimi investicijskimi storitvami in posli za stranke 6.376 5.107 Sprejemanje, posredovanje in izvrševanja naročil 212 302 Gospodarjenje s finančnimi sredstvi 455 265 Izvedba prvih ali nadaljnjih prodaj brez obveznosti odkupa 621 63 Skrbništvo in sorodne storitve 5.088 4.477 Odhodki iz opravnin (provizij) v zvezi z investicijskimi in pomožnimi investicijskimi storitvami in posli za stranke 1.449 903 Opravnine v zvezi s KDD družbo in njej podobnimi organizacijami 1.440 341 Opravnine v zvezi z borzo vrednostnih papirjev in njej podobnimi organizacijami 9 562 Pojasnilo 42: Povezane stranke Banka je hčerinska banka UniCredit Bank Austria AG s sedežem na Dunaju, ki ima v lasti 99,99 % delnic Banke. Lastniki ostalih delnic so slovenska podjetja in fizične osebe. Matična banka Skupine je UniCredit S.p.A, Italija. V svojem običajnem poslovanju Banka sklepa številne transakcije z drugimi članicami skupine UniCredit, kar vključuje dane in prejete kredite ter depozite, nakupe in prodajo tujih valut ter posle z izvedenimi finančnimi instrumenti. Obseg poslov s povezanimi strankami ter iz njih izhajajoči prihodki ter odhodki so navedeni v nadaljevanju: Izkaz finančnega položaja EUR 1.000 31. 12. 2014 31. 12. 2013 Krediti 353.072 113.351 Uprava 306 318 Ključno ravnateljsko osebje 266 194 Matična banka 336.138 98.328 Ostale povezane osebe v skupini UniCredit 16.293 14.510 Ostale povezane osebe 69 1 Izvedeni finančni instrumenti 15.464 7.266 Matična banka 288 - Ostale povezane osebe v skupini UniCredit 15.176 7.266 Druga sredstva 3 1.038 Matična banka 3 888 Ostale povezane osebe v skupini UniCredit - 150 Skupaj sredstva 368.539 121.655 Finančne obveznosti, merjene po odplačni vrednosti 549.347 586.270 Uprava 356 225 Ključno ravnateljsko osebje 25 11 Matična banka 535.928 579.705 Ostale povezane osebe v skupini UniCredit 12.713 6.150 Ostale povezane osebe 325 179 Izvedeni finančni instrumenti 67.371 64.293 Matična banka 28 66 Ostale povezane osebe v skupini UniCredit 67.343 64.227 Druge obveznosti 1.261 1.230 Matična banka 294 443 Ostale povezane osebe v skupini UniCredit 967 787 Skupaj obveznosti 617.979 651.793 Krediti bankam v Skupini vključujejo vloge na vpogled, vezane vloge in kredite. So nezavarovani in sklenjeni z variabilno ali s fiksno obrestno mero. Izkaz poslovnega izida EUR 1.000 2014 2013 Prihodki iz obresti 282 811 Uprava 3 3 Ključno ravnateljsko osebje 5 4 Matična banka 127 87 Ostale povezane osebe v skupini UniCredit 143 717 Ostale povezane osebe 4 - Odhodki za obresti 14.384 16.961 Uprava 5 4 Matična banka 6.345 8.075 Ostale povezane osebe v skupini UniCredit 8.029 8.878 Ostale povezane osebe 5 4 Prihodki iz opravnin (provizij) 968 1.441 Matična banka 434 795 Ostale povezane osebe v skupini UniCredit 534 646 Odhodki za opravnine (provizije) 760 473 Matična banka 164 152 Ostale povezane osebe v skupini UniCredit 596 321 Čisti dobički / izgube iz finančnih sredstev in obveznosti, namenjenih trgovanju 10.942 13.685 Matična banka 565 705 Ostale povezane osebe v skupini UniCredit 10.377 12.980 Spremembe poštene vrednosti pri obračunavanju varovanj pred tveganji (1.159) 2.570 Ostale povezane osebe v skupini UniCredit (1.159) 2.570 Drugi poslovni dobički 1.225 1.052 Matična banka 980 890 Ostale povezane osebe v skupini UniCredit 245 162 Administrativni stroški 2.728 2.906 Matična banka 11 51 Ostale povezane osebe v skupini UniCredit 2.717 2.855 Izplačila povezanim strankam EUR 1.000 2014 2013 Izplačila upravi 569 549 Plače in drugi osebni prejemki 564 520 Zavarovalne premije 5 29 Izplačila članom nadzornega sveta 66 65 Izplačila drugim zaposlenim z individualno pogodbo 1.059 1.198 Plače in drugi osebni prejemki 1.059 1.198 Skupaj 1.694 1.812 Število članov uprave na dan 31.12. 4 4 Število članov nadzornega sveta na dan 31.12. 6 6 Število zaposlenih z individualno pogodbo na dan 31.12. 14 14 V letu 2014 je bilo povprečno trinajst zaposlenih z individualno pogodbo. V letu 2014 so člani uprave Banke prejeli: mag. Jana Benčina Henigman 117 tisoč evrov fiksnega izplačila, 27 tisoč evrov variabilnega izplačila in 1 tisoč evrov drugih prejemkov; mag. Damijan Dolinar, CFA 116 tisoč evrov fiksnega dela izplačila, 28 tisoč evrov variabilnega izplačila ter 1 tisoč evrov drugih prejemkov; Francesco Vercesi, MBA 187 tisoč evrov fiksnega dela izplačila in 59 tisoč evrov variabilnega dela izplačila. Računovodski izkazi Pojasnila k računovodskim izkazom Mag. Stefan Vavti, predsednik uprave, kot napoteni delavec matične banke v skladu s pravili Skupine prejema prejemke za opravljanje funkcije v Banki neposredno s strani matične banke in v letu 2014 ni prejel nobenih dodatnih plačil s strani Banke. V letih 2013 in 2014 ni bilo izplačil po programu nagrajevanja z delnicami in delniškimi opcijami. Člani nadzornega sveta so prejeli: Giuseppe Verrascina 31 tisoč evrov nadomestila, Franco Andretta 24 tisoč evrov nadomestila ter Francesco Slocovich 11 tisoč evrov nadomestila. Pojasnilo 43: Dogodki po datumu poročanja Banka po datumu poročanja ni zaznala pomembnejših poslovnih dogodkov, ki bi vplivali na računovodske izkaze Banke za leto 2014 ali ki bi zahtevali dodatna razkritja v teh računovodskih izkazih. Pojasnilo 44: Pravne tožbe Banka je bila po stanju na dan 31. december 2014 kot tožena stranka vključena v dvajset sodnih sporov, v katerih tožeče stranke uveljavljajo tožbene zahtevke proti Banki v skupni višini 11,7 milijona evrov (na dan 31. december 2013: 11,6 milijona evrov). V skladu z oceno verjetnosti izida je Banka oblikovala ustrezne rezervacije za zadevne pravne spore (prikazane v pojasnilu 14). Pojasnilo 45: Izjava o oškodovanju UniCredit Banka Slovenija d.d. kot članica skupine UniCredit v svojem običajnem poslovanju izvaja številne transakcije z drugimi članicami Skupine. Le-te se izvajajo po običajnih tržnih pogojih in nimajo negativnega vpliva na priložene računovodske izkaze. V skladu s 545. členom Zakona o gospodarskih družbah podajamo izjavo, da v letih 2014 in 2013 ni bilo opravljenih škodljivih poslov ali drugih dejanj, ki bi povzročila oškodovanje Banke. Veliko je še neraziskanega v svetu. Začnimo gaodkrivati že sedaj. Doma tudi, ko ste v tujini. Skupaj gremo lahko daleč. UniCredit ima več kot 8.500 poslovalnic in preko 147.000 zaposlenih, na približno 50 trgih po vsem svetu. To pomeni, da imamo na voljo orodja, znanje in ljudi, da lahko pomagamo vašemu podjetju v mednarodnem okolju. Mednarodni centri UniCredit zdrižujejo naše najbolj izkušene čezmejne strokovnjake v enotno, močno mrežo, ki lahko vašemu podjetju zagotovi informacije in storitve, ki jih potrebuje, da uspete v tujini. Od vrednotenja naložb do opredelitve optimalnih finančnih rešitev in seveda zagotavljanja osnovnih bančnih storitev - UniCredit je vedno z vami, kjer koli se odločite, da boste. Računovodski izkazi Bančna tveganja Celovito upravljanje s tveganji UniCredit Banka Slovenija d.d. skladno z načeli skupine UniCredit ugotavlja, meri in/ali upravlja z naslednjimi kategorijami tveganj: • kreditno tveganje, • tržno tveganje, • likvidnostno tveganje, • operativno tveganje, • poslovno tveganje, • tveganje ugleda, • strateško tveganje, • kapitalsko tveganje, • tveganje na področju nepremičnin in • tveganja iz naslova deležev in kapitalskih udeležb Banke. Banka upravlja s tveganji na usklajen način po različnih organizacijskih ravneh. Poleg tega je struktura upravljanja s tveganji sestavni del širše prakse upravljanja s tveganji v skupini UniCredit. Na ta način podpira enotnost procesov upravljanja in nadzora nad tveganji v celotni Skupini. Osrednje aktivnosti upravljanja s tveganji vodi divizija Upravljanje s tveganji. Le-ta je neodvisna od poslovnih enot Banke in je odgovorna neposredno članu uprave za področje upravljanja s tveganji. Osrednje mesto upravljanja s tveganji na najvišji ravni v Banki imajo tri vrste odborov, in sicer: odbor za upravljanje z bilanco banke, kreditni odbor in odbor za operativna tveganja. Odbor za upravljanje bilance banke (ALCO) Odbor za upravljanje bilance banke (v nadaljevanju: ALCO) je odbor UniCredit Banka Slovenija d.d., ki se ukvarja z vprašanji celovitega upravljanja s tveganji. ALCO se ukvarja z odobritvijo in pregledovanjem strategij in politik prevzemanja in upravljanja s tveganji, redno preverja izpostavljenost Banke različnim vrstam tveganj in odobri določitve limitov za vse pomembne vrste tveganj ter postopke obvladovanja tveganj. ALCO odbor je odgovoren za upravljanje s strukturo bilance Banke, spremlja izpostavljenost likvidnostnemu in obrestnemu tveganju, spremlja kreditni portfelj, ukvarja pa se tudi z vprašanji upravljanja tveganj, ki zadevajo več divizij in upravljanja poslovanja celotne Banke. Odbor se ukvarja tudi z upravljanjem kapitala Banke; ima pregled nad razvojem kapitalske ustreznosti Banke in količniki, nad regulatornim in ekonomskim kapitalom, razporeditvijo kapitala in razpoložljivimi finančnimi viri. Kreditni odbor Z namenom odobritev posamičnih kreditnih izpostavljenosti je v Banki vzpostavljen kreditni odbor. Raven odločanja je določena z zneski predlagane potencialne kreditne izpostavljenosti do posamezne osebe oziroma skupine povezanih oseb ter z bonitetnim razredom dolžnika. Kadar gre za nastanek velike izpostavljenosti, skladno z zakonodajo odločitve potrjuje nadzorni svet Banke. V kreditnem odboru je prisoten predstavnik iz področja upravljanja s tveganji in iz področja prodajnih enot ter predsednik uprave. Redne seje kreditnega odbora potekajo enkrat tedensko. Procesi in načela presoje in odločanja o posamičnih kreditnih izpostavljenostih so določeni v ustreznih internih smernicah in navodilih. Odobritvene pristojnosti za nižje kreditne izpostavljenosti do pravnih in do fizičnih oseb kreditni odbor delegira določenim nosilcem individualne kreditne pristojnosti. Odbor za operativna tveganja Odbor za operativna tveganja je pristojen za učinkovit pregled izpostavljenosti operativnemu tveganju. Odbor razpolaga z razumevanjem in znanjem celotnega okvira upravljanja z operativnim tveganjem kot tudi z znanjem o tem, kako izpostavljenost operativnemu tveganju vpliva na poslovanje Banke. Odbor za operativna tveganja je pristojen tudi za preverjanje, ali sta merjenje in sistem nadzora operativnega tveganja močno integrirana v dnevni proces obvladovanja tveganj Banke. Odbor se sestaja najmanj štirikrat na leto. Upravljanje tveganj Banka je oblikovala jasna izhodišča za oblikovanje cen za posojila in depozite strank, s čimer zagotavljamo ločitve prejemkov poslovanja s strankami od funkcije internega upravljanja s sredstvi in obveznostmi banke. Enota Upravljanje bilance banke je odgovorna za obvladovanje tržnih tveganj v bančni knjigi in upravlja z likvidnostnim tveganjem ter poroča neposredno izvršnemu direktorju za finance (CFO). Enota Upravljanje bilance banke je odgovorna tudi za upravljanje s strukturo ročnosti in optimizacijo donosa Banke. Obseg prevzetih tveganj Strateške cilje Banke se presojamo z vidika obsega prevzetih tveganj. Obseg prevzetih tveganj je opredeljen z različnimi kazalniki, ki ji Banka in Skupina letno pregledata in ustrezno spremenita ali dopolnita. Proces določanja obsega tveganj, ki jih je Banka pripravljena sprejeti, je del procesa planiranja. Banka ima za vsak kazalnik določeno ciljno vrednost (h kateri s svojim poslovanjem stremi) ali t.i. sprožilno vrednost (trigger) ali določen limit. Kazalniki so naslednji: • Na področju kapitalske ustreznosti so na eni strani omejitve in pravila podani s strani regulatorja in na drugi strani s strani Skupine. Banka tako na mesečni ravni spremlja gibanje količnika skupnega kapitala in temeljnega kapitala, količnika kapitalske ustreznosti po drugem stebru, količnik kapitalskega vzvoda in količnika obsega prevzemanja tveganj. • Na področju kreditnega tveganja Banka spremlja verjetnost neplačila, pričakovano izgubo glede na izpostavljenost ob neplačilu in minimalno pokritost kreditne izpostavljenosti z oslabitvami. • Deželno tveganje, kjer spremljamo izpostavljenost do države. • Na področju tržnih tveganj Banka spremlja tvegano vrednost v trgovalni knjigi, največjo dovoljeno izgubo v trgovalni in bančni knjigi in neto obrestno občutljivost. • Na področju dobičkonosnosti, kjer Banka želi obvladovati nestanovitnost v zaslužkih in dosegati vzdržno rast, spremlja tako kazalnik prihodkov iz poslovanja na tveganjem prilagojeno aktivo, operativne stroške in kazalnik Earning at Risk (tveganje dobičkonosnosti). • Na podoročju likvidnosti so za Banko pomembni kazalniki kratkoročne likvidnosti, strukturne likvidnosti in količnik likvidnostnega kritja. • Na področju operativnega tveganja pa Banka spremlja izgube iz naslova operativnega tveganja. Kreditno tveganje Kreditno tveganje je opredeljeno kot tveganje nastanka izgube zaradi neizpolnitve obveznosti dolžnika do banke. Vrste kreditnih tveganj so naslednje: • Tveganje neplačila: dogodek neplačila nastopi, ko stranka več kot 90 dni zamuja s plačilom katerekoli pomembnejše kreditne obveznosti do Banke oziroma je verjetnost plačila nizka skladno s sklepi Banke Slovenije in veljavnimi internimi akti Banke. Posledica teh dogodkov je uvrstitev vseh naložb povezanih s stranko med slabe naložbe. • Deželno tveganje pomeni tveganje izgube, ki jo lahko utrpi Skupina v katerikoli državi, zaradi kateregakoli od naslednjih razlogov: možnost poslabšanja ekonomskih razmer, politični ali socialni nemiri, nacionalizacija ali razlastitev premoženja, zavrnitve s strani vlade v primeru zadolženosti, poostrene menjalne kontrole in valutne depreciacije ali devalvacije. • Tveganje poravnave je tveganje, ki lahko nastane pri poravnavi ali obračunavanju posameznih transakcij, v primeru ko ne pride istočasno do izmenjave / poravnave obveznosti v denarju, vrednostnih papirjih in / ali drugih oblikah premoženja. • Tveganje koncentracije pomeni tveganje nastanka izgube v primeru prekomerne izpostavljenosti do posamezne osebe, skupine povezanih oseb in oseb, ki jih povezujejo skupni dejavniki tveganja, kot so isti gospodarski sektor oziroma geografsko območje ali istovrstni posli in podobno. • Tveganje nasprotne stranke je tveganje, da bo nasprotna stranka postala neplačnik pred končno poravnavo denarnih tokov iz tega posla. Nanaša se na izvedene finančne instrumente, posle začasne prodaje oziroma odkupa, posoje oziroma izposoje vrednostnih papirjev ali blaga, posle kreditiranja za povečanje trgovalnega portfelja in posle z dolgim rokom poravnave. • Tveganje lastninjenjam, kateremu Banka ni izpostavljena. Glavni cilj upravljanja s kreditnim tveganjem je doseganje oziroma ohranjanje visoke kakovosti in razpršenosti kreditnega portfelja. Banka sprejema in upravlja kreditno tveganje skladno z internimi akti. Postopki upravljanja kreditnega tveganja potekajo na ravni posamezne transakcije, stranke in portfelja. Merjenje kreditnih tveganj Temelj vsakega kreditnega odobritvenega procesa je podrobna obravnava vsake kreditne izpostavljenosti povezane s stranko. Banka pri procesu odobravanja svojih naložb upošteva tako verjetnost dogodka neplačila obveznosti posamezne stranke, kot tudi tveganje povezano z različnimi vrstami izpostavljenosti. Pri merjenju kreditnega tveganja Banka izračunava boniteto na podlagi verjetnosti dogodka neplačila obveznosti posamezne stranke. Za del kreditnega portfelja pravnih oseb Banka ocenjuje parameter tveganja verjetnost neplačila (PD) skladno s Sklepom o izračunu kapitalske zahteve za kreditno tveganje po pristopu na podlagi notranjih bonitetnih sistemov (IRB) za banke in hranilnice. S tem se je Banka zavezala, da bo postopno uvedla IRB pristop za vse pomembne izpostavljenosti. Banka z namenom učinkovitega in statistično podprtega merjenja kreditnih tveganj pripravlja in spremlja modele skladno s prej omenjenim Sklepom in smernicami skupine UniCredit. Verjetnost dogodka neplačila in posledično boniteta posamezne stranke je določena na podlagi finančnih podatkov, kvalitativnih dejavnikov in opozorilnih signalov. Banka uporablja deset glavnih razredov bonitete z dodatno delitvijo v podrazrede. Lestvica skupine UniCredit vključuje skupno 26 različnih bonitetnih razredov v razponu od 1+ do 10, ki so umerjeni upoštevajoč lokalne značilnosti. Računovodski izkazi Bančna tveganja Vrednost zavarovanj se je v letu 2014 v primerjavi z letom 2013 znižala zaradi: • prilagoditve vrednosti nepremičnin v segmentu fizičnih oseb na nove tržne vrednosti, • poplačil kreditov, zavarovanih s poslovnimi nepremičninami, • znižanja zaravovanj v obliki bančnih vlog prejetih s strani matične družbe. Politika Banke glede oslabitev in rezervacij Banka je v svojih internih dokumentih podrobno določila postopke, metodologije in politike tako za spremljanje kakovosti portfelja finančnih sredstev, kot tudi za oblikovanje ustreznih oslabitev ter rezervacij za prevzete obveznosti. Pri politiki za oblikovanje oslabitev Banka sledi sklepu Banke Slovenije o oblikovanju izgub iz kreditnega tveganja bank in hranilnic in zahtevam mednarodnih standardov računovodskega poročanja, kot jih je sprejela EU (v nadaljevanju MSRP). Banka uporablja dva pristopa za oblikovanje oslabitev - skupinski in posamični. Dodatno se, kot obrazloženo spodaj, oslabitve delijo na specifične in splošne oslabitve. Za izpostavljenosti do strank, ki pomembno zamujajo s poravnavo obveznosti oziroma strank, pri katerih je nastal katerikoli drugi dogodek tveganja neplačila Banka oblikuje specifične oslabitve. Za izpostavljenosti do pravnih oseb se specifične oslabitve finančnih sredstev v UniCredit Banka Slovenija d.d. ocenjujejo posamično in sicer glede na primerno oceno sedanje vrednosti pričakovanega denarnega toka. Za stranke iz segmenta poslovanja s prebivalstvom se specifične oslabitve finančnih sredstev ocenjujejo skupinsko na podlagi izračuna pričakovane izgube (EL). Kvaliteto strank Banka ocenjuje enkrat mesečno in na podlagi tega oblikuje oslabitve, postopek pa je urejen z internimi navodili in ima ustrezno informacijsko podporo. Posamične oslabitve Banka oblikuje (na ravni stranke ali posla) ob upoštevanju naslednjih kriterijev: • v okviru ocenjevanja denarnih tokov Banka presoja tako finančno poslovanje stranke kot tudi njeno preteklo plačilno (ne)disciplino in način odplačevanja; • morebitne kršitve posojilnih pogodb ali pogojev; • stečaj ali druge pravne postopke, ki imajo lahko za posledico izgubo za Banko iz te naložbe; • informacije, ki imajo lahko vpliv na izpad prejetih odplačil za Banko. Pri tem predstavlja oslabitev finančnega sredstva razliko med knjigovodsko in nadomestljivo vrednostjo. Nadomestljiva vrednost je opredeljena kot sedanja vrednost (diskontirana vrednost) pričakovanih prihodnjih denarnih tokov ob uporabi izvirne efektivne obrestne mere (t.j. obrestna mera, ki natančno razobrestuje (diskontira) pričakovane prihodnje denarne tokove skozi obdobje pričakovane dobe finančnega sredstva ali, če je primerneje, skozi krajše obdobje na čisto knjigovodsko vrednost finančnega sredstva). V primeru, ko Banka pričakuje, da bo restrukturiranje podlaga za uspešno vračilo obveznosti, kot pričakovane denarne tokove uporabi tokove iz restrukturirane izpostavljenosti. V primeru, ko je verjetnost vračila obveznosti nizka oziroma neopredeljiva, pa lahko upošteva tokove iz predvidenega vnovčenja materialnega zavarovanja, pri čemer upošteva realno oceno možnosti prodaje zavarovanja in pravno izvršljivost zavarovanja. V segmentu poslovanja s prebivalstvom Banka spremlja boniteto strank na podlagi podatkov pridobljenih iz njene vloge pri Banki in podatkov pridobljenih za obstoječe stranke na podlagi njihovega poslovanja z Banko. Interno so stranke iz tega segmenta na podlagi posameznih verjetnosti neplačila razvrščene v 26 bonitetnih razredov. Banka za segment poslovanja s prebivalstvom oblikuje specifične oslabitve skupinsko, in sicer vsaj enkrat mesečno. Na podlagi kakovosti portfelja so izračunani kazalniki, ki so skladno s standardi pomembni za izračun pričakovanih izgub (Expected loss) na ravni posamezne stranke. Pri strankah, kjer ni pripoznanih pomembnih zamud s poravnavo obveznosti in obenem ni nastal katerikoli drugi dogodek tveganja neplačila, Banka na podlagi razvrščanja strank v bonitetne razrede oblikuje splošne oslabitve. Splošne oslabitve se izračunavajo skupinsko, pri čemer Banka upošteva dejavnike kot so kakovost posojil, velikost portfelja in ekonomske dejavnike, vključno z analizo pretekle plačilne discipline v posameznih bonitetnih razredih. Oslabitve za nastale vendar še ne izkazane izgube (IBNR – Incurred but not reported) se izračunavajo na mesečni ravni, temeljijo pa na kakovosti portfelja. Uporabijo se izračunani kazalniki, ki so skladni s standardi za izračun pričakovanih izgub (Expected loss) na ravni posamezne stranke in dodatno na tako imenovanem obdobju evidentiranja izgube (Loss detection period). Banka redno spremlja razvoj kreditnega portfelja in pokritost z oslabitvami in rezervacijami v obliki rednih in izrednih poročil in o tem poroča vodstvu. Prav tako Banka izvaja nadzor na ravni stranke za tiste stranke, ki zamujajo s plačili. Tako je Banka uvedla tri statuse glede na tveganost strank, ki določajo, katere aktivnosti se izvajajo in katera enota znotraj Banke je odgovorna za posamezno stranko. • »Kredit na opazovanju«: pomeni, da stranka še v roku poravnava svoje obveznosti, zaradi različnih opozorilnih signalov pa Banka lahko pričakuje zamude pri odplačevanju v prihodnosti. V takšnih primerih enota Presoja in prevzemanje kreditnih tveganj zahteva vzpostavitev posebnih načrtov aktivnosti s strani poslovnih divizij v Banki. Računovodski izkazi Bančna tveganja Finančna sredstva, ki so na datum zapadlosti zapadla v plačilo, niso pa oslabljena, za Banko ne predstavljajo materialne vrednosti. Banka za namene internega poročanja deli slabe terjatve v naslednje skupine: • Slabe terjatve (skupina Sofferenze) – v to skupino Banka umešča terjatve, ki so slabe, stranke pa nesolventne, kar pa ni bilo nujno prepoznano s strani sodišč, strank. • Dvomljive terjatve (skupina Incaglio) – v to skupino Banka umešča terjatve do strank, ki se soočajo z začasnimi težavami, za katere Banka predvideva, da bodo v ustreznem časovnem obdobju razrešene. • Prestrukturirani posli (skupina Ristrutturati) – v to skupino Banka umešča posojila, katerih pogoji so bili ponovno določeni in katerih kreditna kvaliteta se kasneje ni poslabšala. • Zapadle terjatve (skupina Past Due) – izpostavljenost do strank, ki niso vključene v ostale tri kategorije in ki zamujajo s svojimi obveznostmi za več kot 90 dni in manj kot 180 dni. Izpostavljenost po skupinah slabih terjatev EUR 1.000 Razred Banke Italije 31. 12. 2014 31. 12. 2013 Zapadle terjatve (skupina Past Due) 38.888 55.584 Restrukturirani posli (skupina Ristrutturati) 63.572 48.724 Dvomljive terjatve (skupina: Incaglio) 43.172 54.607 Slabe terjatve (slupina Sofferenze) 194.007 193.469 Skupaj 339.640 352.384 Opomba: Znesek izpostavljenosti v tabeli je izražen v bruto vrednosti. Druga finančna sredstva in stanja pri centralni banki iz Izkaza finančnega položaja so ustrezno razvrščena med banke oz. stranke. Kreditno tveganje nasprotne stranke Kreditno tveganje je na splošno definirano kot tveganje, da nasprotna stranka v poslu ne bo izpolnila svojih obveznosti do banke v predvidenem roku. Kreditno tveganje nasprotne stranke pa je termin, ki se uporablja v povezavi s transakcijami zakladništva in vrednostnimi papirji. Za upravljanje s kreditnim tveganjem nasprotne stranke pri izvedenih finančnih inštrumentih UniCredit Banka Slovenija d.d. uporablja interni model. Izpostavljenost do posamezne nasprotne stranke ugotavljamo s pomočjo simulacije razvoja vrednosti portfelja poslov sklenjenih s stranko. Prihodnjo vrednost portfelja izračunamo na podlagi scenarijev, zasnovanih na triletni časovni vrsti volatilnosti, korelacijah faktorjev tveganja in bodočih denarnih tokov ob upoštevanju stresnih faktorjev. Simulacije so izračunane za vse glavne tipe poslov, torej terminske pogodbe, valutne opcije, obrestne zamenjave, strukturirani produkti, izvedeni inštrumenti na blago. Kot trenutna izkoriščenost limita oziroma izpostavljenost do nasprotne stranke se upošteva maksimum 95 % kvantilov posameznih časovnih točk v prihodnosti. Kreditno tveganje nasprotne stranke za UniCredit Banka Slovenija d.d. glede na boniteto strank za izvedene finančne instrumente EUR 1.000 Bonitetni razred Izpostavljenost tveganju nasprotne stranke 31. 12. 2014 31. 12. 2013 1 0 - 2 17.014 11.550 3 4.749 2.605 4 1.635 4.975 5 63 1.085 6 275 7.655 7 1.622 798 8 988 - Slabe naložbe 2.400 11.448 Nerazvrščene stranke 0 2.164 Skupaj 28.746 42.279 Izpostavljenost v izvedenih finančnih instrumentih se je v primerjavi z letom 2013 zmanjšala zaradi zapadlih poslov za 32 %. Tržna tveganja UniCredit Banka Slovenija d.d. je pri svojem poslovanju izpostavljena tržnim tveganjem. Gre za tveganje, da poštena vrednost ali prihodnji denarni tokovi finančnega instrumenta nihajo zaradi sprememb tržnih cen. Tržna tveganja nastanejo v primeru odprtih pozicij iz naslova obrestne izpostavljenosti, iz naslova tujih valut, iz naslova kreditnega razpona, iz naslova blaga in iz naslova lastniških vrednostnih papirjev. Vse navedeno je izpostavljeno splošnim in posebnim tržnim gibanjem ter spremembam zaradi nestanovitnosti tržnih tečajev ali cen, kot so obrestne mere, kreditni razponi, menjalni tečaji, cene blaga in cene lastniških finančnih instrumentov. Izpostavljenost banke tržnim tveganjem EUR 1.000 Vsebina 31. 12. 2014 31. 12. 2013 Sredstva Denar v blagajni in stanje na računih pri centralni banki 350.279 245.530 Finančna sredstva, namenjena trgovanju 16.368 15.394 Finančna sredstva, razpoložljiva za prodajo 354.360 251.352 Izvedeni finančni instrumenti, namenjeni varovanju 11.950 7.008 Krediti 1.797.196 1.913.724 Finančna sredstva v posesti do zapadlosti 13.160 13.053 Dolgoročne naložbe v kapital odvisnih, pridruženih in skupaj obvladovanih družb 0 0 Skupaj 2.543.313 2.446.061 Obveznosti Finančne obveznosti do centralne banke 0 0 Finančne obveznosti, namenjene trgovanju 17.239 17.188 Izvedeni finančni instrumenti, namenjeni varovanju 53.415 47.356 Finančne obveznosti, merjene po odplačni vrednosti 2.253.031 2.185.970 Rezervacije 7.116 6.137 Skupaj 2.330.801 2.256.651 Metode obvladovanja tržnih tveganj Obvladovanje tržnih tveganj vključuje vse dejavnosti, povezane s posli zakladništva in upravljanja strukture bilance Banke. Pozicije tveganja se ugotavljajo vsaj enkrat dnevno in analizirajo s strani neodvisne enote za obvladovanje tveganj, ki jih tudi primerja z odobrenimi limiti, določenimi s strani ALCO odbora. Banka se poslužuje varovanja denarnih tokov za upravljanje s tveganji obrestnih mer v skladu z MSRP. Obvladovanje tveganj v UniCredit Banka Slovenija d.d. vključuje stalno poročanje o poziciji tveganja, postavljanju limitov in nadzoru porabe limitov ter dnevni predstavitvi rezultatov poslovanja zakladništva. ALCO odbor vsaj enkrat letno določi limite za tržna tveganja Banke v tesnem sodelovanju z ustreznimi enotami UniCredit Bank Austria AG, Dunaj. Celoten sklop pravil za poslovanje zakladništva in upravljanje tržnih tveganj je določen v Pravilniku za finančne trge in je razdeljen na tri dele (splošni del, posebni del in del, ki velja za UniCredit Banka Slovenija d.d.). Limiti so razvrščeni v dve skupini: • Splošni limiti za tržna tveganja: Ti so namenjeni omejitvi potrebnega notranjega kapitala za pokrivanje tržnih tveganj in za omejitev sprejemljive trgovalne izgube. Limiti so določeni v skladu s planiranim dobičkom in z zmožnostjo sprejemanja tveganj. Med splošne limite za tržna tveganja Banka uvršča: • Limit največje dovoljene izgube, ki je definiran kot 60-dnevni kumulativni seštevek ekonomskega poslovnega izida trgovalne enote; • Meje, ki so definirane za testiranja izjemnih situacij in predstavljajo potencialno izgubo portfelja izračunano za posamezni scenarij; • Tvegano vrednost (VaR), ki predstavlja potencialno izgubo premoženja v določenem obdobju izračunano z določeno stopnjo zaupanja. • Specifični limiti za tržna tveganja: So neodvisni od splošnih limitov, vendar delujejo v povezavi z njimi. Banka jih uporablja za učinkovitejši nadzor nad posameznimi vrstami tveganj in predstavljajo mero občutljivosti tržne vrednosti finančnega instrumenta zaradi sprememb specifičnih dejavnikov tveganja. Izpostavljenost tržnim tveganjem lahko spreminjajo le tisti, ki so pooblaščeni za prevzemanje in spreminjanje pozicij. UniCredit Banka Slovenija d.d. za namene internega upravljanja s tržnimi tveganji dodatno spremlja tvegano vrednost izračunano ločeno za trgovalno in bančno knjigo. V letu 2014 je povprečna tvegana vrednost izračunana na osnovi pozicij, ki so namenjene trgovanju, znašala 32.000 evrov, povprečna tvegana vrednost izračunana za pozicije v bančni knjigi pa 3.197.000 evrov. V okviru upravljanja obrestnega tveganja se Banka izpostavlja predvsem tveganju v evrih, ameriških dolarjih in švicarskih frankih. Izpostavljenosti v omenjenih valutah so predstavljene v spodnji tabeli in vključujejo tako postavke trgovalne kot tudi bančne knjige. Obrestno tveganje Banke v valutah, ki tukaj niso prikazane, je minimalno. Učinki premika obrestne krivulje za eno bazično točko v letu 2014 EUR Valuta Do 3 mesece 3 mesece do 1 leta 31. 12. 2014 1 do 3 let 3 do 10 let Nad 10 let Skupaj Letni max, min, povprečje Letni maksimum Letni minimum Absolutno povprečje CHF (1.009) (10.597) 8.040 (1.970) (202) (5.738) 8.930 (5.643) 366 EUR (2.433) 3.929 14.723 77.926 (1.366) 92.779 29.884 (9.604) 4.373 USD 6 80 129 0 0 214 93 (336) 6 Skupaj (3.437) (5.708) 17.366 75.955 (1.568) 82.609 29.884 (12.365) 3.988 Učinki premika obrestne krivulje za eno bazično točko v letu 2013 EUR Do 3 3 mesece 31. 12. 2013 Letni max, min, povprečje Letni Letni Absolutno Valuta mesece do 1 leta 1 do 3 let 3 do 10 let Nad 10 let Skupaj maksimum minimum povprečje CHF 1.072 (658) (551) (1.147) (527) (1.811) 1.670 (3.999) 1.328 EUR (13.934) (7.402) (15.180) 34.586 (247) (2.177) 36.347 (5.267) 19.446 USD (42) 121 14 0 0 93 93 (336) 105 Skupaj 15.051 8.181 15.745 35.733 774 4.083 36.955 3.923 21.321 Razmerje med obrestnim tveganjem v bančni knjigi in kapitalom banke je vzpostavljeno v okviru Direktive CRD IV in Uredbe CRR in od Banke zahteva primerjavo spremembe v tržni vrednosti bančne knjige kot posledice premika obrestne krivulje za dve odstotni točki s kapitalom banke. V primeru, da omenjena sprememba obrestnih mer absorbira več kot 20 % kapitala banke, lahko nadzorna institucija od banke zahteva sprejem ukrepov za omejitev tveganja. Rezultati testiranja stresnega scenarija so pokazali, da bi nenaden vzporedni premik obrestnih mer navzdol za 2 odstotni točki absorbiral približno 1,2 % kapitala Banke, kar je občutno pod mejno vrednostjo 20 %. Trenutna investicija lastniškega kapitala je pri testiranju upoštevana kot odprta izpostavljenost tveganju. UniCredit Banka Slovenija d.d. izračunava in spremlja poleg, v okviru Direktive CRD IV in Uredbe CRR zahtevane mere, tudi občutljivost neto obrestnih prihodkov na spremembe v obrestnem tveganju v bančni knjigi. Po metodologiji Skupine se učinek občutljivosti neto obrestnih prihodkov na šoke v spremembi obrestnih mer meri na obrestne pozicije do enega leta, ki izhajajo iz poslovanja Banke in strateških investicijskih odločitev Banke (bančna knjiga). Na dan 31. december 2014 je izračunani učinek obrestnega šoka +100 bazičnih točk znašal 1.601.617 evrov in -603.616 evrov v primeru vzporednega premika obrestne krivulje za -100 bazičnih točk. Poleg zgoraj omenjenih analiz občutljivosti na obrestno tveganje se dodatno izračunava in spremlja učinke občutljivosti ekonomske vrednosti Banke na različne potencialne šoke v obrestnih merah za celotno obrestno pozicijo Banke v vseh pomembnejših valutah. Pomembnejši scenariji sprememb obrestnih mer, ki so ocenjevani mesečno, so naslednji: • Vzporedni premik obrestne krivulje +/- 200 in +/-100 bazičnih točk. • Spremembe v naklonu krivulje obrestnih mer so analizirane z različnim premikom na kratkoročnem delu krivulje in nasprotnim premikom na dolgoročnem delu krivulje obrestnih mer. Tako se v prvem primeru analizira učinek porasta kratkoročnih obrestnih mer in hkratnega padca dolgoročnih obrestnih mer (primer 1 v spodnji tabeli) ter v drugem primeru učinek padca kratkoročnih obrestnih mer in hkratnega porasta dolgoročnih obrestnih mer (primer 2 v spodnji tabeli). Ob koncu leta 2014 obrestna občutljivost v EUR ostaja glavni dejavnik tveganja, vendar se je občutljivost ekonomske vrednosti Banke na obrestne šoke zmanjšala, posebno v primeru vzporednih premikov krivulje obrestnih mer, kar je razvidno iz spodnje tabele. Bilančne postavke v različnih valutah na dan 31. 12. 2014 EUR 1.000 Vsebina EUR CHF USD Ostalo Skupaj Denar v blagajni in stanje na računih pri centralni banki 287.088 27.515 30.246 5.430 350.279 Finančna sredstva, namenjena trgovanju 16.362 6 0 0 16.368 Finančna sredstva, razpoložljiva za prodajo 354.360 0 0 0 354.360 Izvedeni finančni instrumenti, namenjeni varovanju 11.950 0 0 0 11.950 Krediti 1.523.709 271.534 1.952 1 1.797.196 Krediti bankam 39.686 0 1.798 0 41.484 Krediti strankam 1.478.094 265.348 128 0 1.743.570 Druga finančna sredstva 5.929 6.186 26 1 12.142 Finančna sredstva v posesti do zapadlosti 13.160 0 0 0 13.160 Opredmetena osnovna sredstva 7.327 0 0 0 7.327 Neopredmetena sredstva 18.802 0 0 0 18.802 Terjatve za davek od dohodkov pravnih oseb 7.637 0 0 0 7.637 Druga sredstva 1.637 0 16 0 1.653 SKUPAJ SREDSTVA 2.242.033 299.055 32.214 5.431 2.578.732 Finančne obveznosti, namenjene trgovanju 17.233 6 0 0 17.239 Izvedeni finančni instrumenti, namenjeni varovanju 53.345 70 0 0 53.415 Finančne obveznosti, merjene po odplačni vrednosti 2.081.906 131.792 35.223 4.110 2.253.031 Vloge bank 425.703 14 147 71 425.935 Vloge strank 1.323.603 6.642 34.244 4.022 1.368.511 Krediti bank 286.297 124.953 0 0 411.250 Podrejene obveznosti 30.110 0 0 0 30.110 Druge finančne obveznosti 16.193 183 832 17 17.225 Rezervacije 7.116 0 0 0 7.116 Druge obveznosti 3.927 1 1 1 3.930 SKUPAJ OBVEZNOSTI 2.163.528 131.869 35.223 4.112 2.334.731 Osnovni kapital 20.384 0 0 0 20.384 Kapitalske rezerve 107.760 0 0 0 107.760 Presežek iz prevrednotenja 11.222 0 0 0 11.222 Rezerve iz dobička (vključno z zadržanim dobičkom) 104.335 0 0 0 104.335 Čisti dobiček poslovnega leta 300 0 0 0 300 SKUPAJ KAPITAL 244.001 0 0 0 244.001 SKUPAJ OBVEZNOSTI IN KAPITAL 2.407.529 131.869 35.223 4.112 2.578.732 Računovodski izkazi Bančna tveganja Bilančne postavke v različnih valutah na dan 31. 12. 2013 EUR 1.000 Vsebina EUR CHF USD Ostalo Skupaj Denar v blagajni in stanje na računih pri centralni banki 179.346 9.867 50.706 5.611 245.530 Finančna sredstva, namenjena trgovanju 15.299 16 78 0 15.394 Finančna sredstva, razpoložljiva za prodajo 251.352 0 0 0 251.352 Izvedeni finančni instrumenti, namenjeni varovanju 7.006 2 0 0 7.008 Krediti 1.604.810 305.081 3.833 0 1.913.724 Krediti bankam 9.413 0 3.832 0 13.245 Krediti strankam 1.592.332 303.140 0 0 1.895.472 Druga finančna sredstva 3.066 1.940 1 0 5.007 Finančna sredstva v posesti do zapadlosti 13.053 0 0 0 13.053 Opredmetena osnovna sredstva 9.163 0 0 0 9.163 Neopredmetena sredstva 19.472 0 0 0 19.472 Terjatve za davek od dohodkov pravnih oseb 11.868 0 0 0 11.868 Druga sredstva 1.989 0 4 0 1.993 SKUPAJ SREDSTVA 2.113.358 314.966 54.621 5.611 2.488.557 Finančne obveznosti, namenjene trgovanju 17.125 20 43 0 17.188 Izvedeni finančni instrumenti, namenjeni varovanju 47.214 142 0 0 47.356 Finančne obveznosti, merjene po odplačni vrednosti 1.903.262 164.541 113.193 4.974 2.185.970 Vloge bank 294.540 28.528 414 249 323.731 Vloge strank 1.154.763 5.151 112.335 4.583 1.276.833 Krediti bank 408.542 130.599 0 0 539.141 Podrejene obveznosti 30.117 0 0 0 30.117 Druge finančne obveznosti 15.301 263 443 141 16.148 Rezervacije 6.137 0 0 0 6.137 Druge obveznosti 4.187 0 3 0 4.191 SKUPAJ OBVEZNOSTI 1.977.926 164.703 113.238 4.974 2.260.842 Osnovni kapital 20.384 0 0 0 20.384 Kapitalske rezerve 107.760 0 0 0 107.760 Presežek iz prevrednotenja -4.466 1 0 0 (4.465) Rezerve iz dobička (vključno z zadržanim dobičkom) 104.036 0 0 0 104.036 Čisti dobiček poslovnega leta 0 0 0 0 - SKUPAJ KAPITAL 227.714 1 0 0 227.715 SKUPAJ OBVEZNOSTI IN KAPITAL 2.205.640 164.704 113.238 4.974 2.488.557 Izvedeni finančni instrumenti V skladu z mednarodnimi priporočili Banka izvedene finančne instrumente razvršča v pogodbe vezane na obrestno mero, pogodbe vezane na devizni tečaj, pogodbe vezane na vrednostne papirje ter kategorijo kreditnih in drugih izvedenih finančnih instrumentov. Podlaga za razvrstitev je osnovni finančni instrument, na katerega se pogodba nanaša. V vsaki od navedenih kategorij Banka dodatno razlikuje med instrumenti, s katerimi se trguje na prostem trgu (OTC) in instrumenti, s katerimi se trguje na priznanih borzah. Večino portfelja izvedenih finančnih instrumentov Banke še vedno predstavljajo instrumenti, s katerimi se trguje na prostem trgu (OTC). UniCredit Banka Slovenija d.d. je poslovni partner podjetjem, ki sklepajo navadne in strukturirane posle. Banka pozicije nemudoma zapre, da ne bi prekoračila vzpostavljenih limitov. Računovodski izkazi Bančna tveganja Likvidnostno tveganje Likvidnostno tveganje je tveganje, da banka ni sposobna pravočasno poravnati svojih plačilnih obveznosti, ki nastopijo ob zapadlosti njenih finančnih virov, ali ni zmožna nadomestiti finančnih virov v primeru, da pride do njihovega nenadnega odtoka. Posledica je lahko neizpolnitev obveznosti do strank pri izplačilu depozitov in črpanju odobrenih kreditnih linij. Likvidnostno tveganje je inherentna sestavina bančnega poslovanja in ga lahko sprožijo dogodki neposredno povezani z zadevno institucijo, kot so denimo znižanje kreditne bonitete ali pa dogodki na trgu, ko nastopijo večje sistemske napake ali motnje v delovanju kapitalskih in denarnih trgov. UniCredit Banka Slovenija d.d. obravnava likvidnostno tveganje kot centralno tveganje v bančnem poslovanju in z njim upravlja na celovit in strukturiran način. Postopki, odgovornosti in linije poročanja na področju likvidnosti so zapisane v likvidnostni politiki in vključujejo tudi krizni načrt v primeru likvidnostne krize. Banka zmanjšuje likvidnostno tveganje na naslednje načine: • s podrobnim planiranjem kratkoročne in srednjeročne ter dolgoročne likvidnosti; • z učinkovito politiko upravljanja z likvidnostjo v zaostrenih likvidnostnih razmerah s poudarkom na uresničljivem ter ustreznem kriznem načrtu; • z zadostno likvidnostno rezervo za primere nepričakovanih odlivov; • z rednim izvajanjem ustreznih stresnih scenarijev. Glavni komponenti upravljanja z likvidnostnim tveganjem v Banki sta upravljanje s kratkoročno likvidnostjo in upravljanje s strukturno likvidnostjo. Poleg rednih aktivnosti spremljanja in upravljanja pozicij obe vključujeta analizo scenarijev in testiranje izjemnih situacij. Kratkoročna likvidnost S kratkoročno likvidnostjo Banka razume upravljanje likvidnosti znotraj delovnega dne in upravljanje z dnevnimi potrebami po refinanciranju Banke. Prvi pristop je osredotočen na dostop do zadostne likvidnosti tekom dneva za pokrivanje vseh obveznosti do plačilnih in poravnalnih sistemov ter vključuje sprotno spremljanje obsežnejših plačil in velikosti zavarovanja v plačilnih sistemih. Dnevne potrebe po refinanciranju Banka pokriva z aktivnim sodelovanjem na medbančnem trgu v odvisnosti od tržnih gibanj in dejavnikov identificiranih v mesečnem načrtu refinanciranja. Dnevno nadziranje presežkov in primanjkljajev v kratkoročni likvidnosti zagotavlja, da so dnevne potrebe po refinanciranju omejene. Za namene upravljanja kratkoročnega likvidnostnega tveganja ima Banka vzpostavljen limitni sistem za zapadlosti do treh mesecev z dnevnim spremljanjem koriščenosti limitov. Limiti omejujejo pretirane volumne odprtih pozicij po posameznih zapadlostih in za posamezne valute z namenom, da se omeji tveganje refinanciranja v primeru nelikvidnega trga določene tuje valute. Strukturna likvidnost Upravljanje s strukturno likvidnostjo dopolnjuje upravljanje s kratkoročno likvidnostjo. Pokriva razširjen časovni horizont, od zapadlosti preko noči do končnih zapadlosti dolgoročnih sredstev in obveznosti banke, ter obravnava vidike časa do zapadlosti, valutne usklajenosti ter koncentracije. Celotna strukturna likvidnost se analizira v standardnem scenariju likvidnosti ter scenarijih likvidnostne krize na trgu in likvidnostne krize specifične za banko. Prekomerna strukturna neskladja so preprečena s spremljanjem položaja na ravni posameznih valut, kar hkrati znižuje občutljivost banke na položaj trga medvalutnih zamenjav. Količnike strukturne likvidnosti ter izpostavljenosti glede na limite Banka spremlja tedensko in redno obravnava na sejah ALCO odbora. Testiranje stresnih scenarijev Da bi zagotovili kontinuirano poslovanje med obdobji izredno negativnega razvoja dogodkov, Banka izvaja testiranje različnih stresnih scenarijev. Glavni scenarij je definiran kot kombinacija negativnega razvoja dogodkov na celotnem bančnem trgu (kriza na trgu) in krizo imena specifično za UniCredit S.p.A. Časovni okvir definiran znotraj kombiniranega scenarija je en mesec. Rezultat kombiniranega scenarija služi Banki tudi kot pomembna mera v okviru določanja za Banko sprejemljivega obsega prevzemanja tveganj. Stresni scenariji se izvajajo tedensko, rezultati testiranja scenarijev pa se mesečno obravnavajo na sejah ALCO odbora. Z oblikovanjem zadostnega obsega virov financiranja Banka zagotavlja, da njene potencialne kapacitete za refinanciranje presegajo potrebe po likvidnosti v definiranih stresnih scenarijih. Računovodski izkazi Bančna tveganja Bilanca stanja po zapadlosti na dan 31. 12. 2014 EUR 1.000 Do 1 Od 1 - 3 Od 3 - 12 Vsebina Skupaj Na vpogled meseca mesecev mesecev Od 1 - 5 let Nad 5 let Denar v blagajni in stanje na računih pri centralnih bankah in vpogledne vloge pri bankah 350.279 350.279 0 0 0 0 0 Finančna sredstva, namenjena trgovanju 16.368 0 1.144 798 2.926 7.482 4.018 Finančna sredstva, razpoložljiva za prodajo 393.595 0 126 9.407 11.102 272.929 100.031 Izvedeni finančni instrumenti, namenjeni varovanju 11.950 0 7 32 658 1.695 9.558 Krediti 1.956.050 0 97.375 54.398 405.042 715.418 683.817 Krediti bankam 41.530 0 396 968 38.764 1.402 0 Krediti strankam 1.902.378 0 84.901 53.373 366.271 714.016 683.817 Druga finančna sredstva 12.142 0 12.078 57 7 0 0 Finančna sredstva v posesti do zapadlosti 14.332 0 0 520 0 13.812 0 Opredmetena osnovna sredstva 7.327 0 0 0 0 0 7.327 Neopredmetena dolgoročna sredstva 18.802 0 0 0 0 0 18.802 Terjatve za davek od dohodkov pravnih oseb 7.637 0 0 0 0 7.637 0 Terjatve za davek 0 0 0 0 0 0 0 Odložene terjatve za davek 7.637 0 0 0 0 7.637 0 Druga sredstva 1.653 0 46 1.515 85 3 4 Skupaj sredstva (1) 2.777.993 350.279 98.698 66.670 419.813 1.018.976 823.557 Finančne obveznosti, namenjene trgovanju 17.239 0 1.144 766 3.314 7.319 4.696 Izvedeni finančni instrumenti, namenjeni varovanju 53.415 0 0 61 1.757 41.859 9.738 Finančne obveznosti, merjene po odplačni vrednosti 2.260.282 723.427 568.163 324.212 231.280 315.100 98.100 Vloge bank in centralnih bank 426.973 7.913 140.252 60.225 40.891 82.692 95.000 Vloge strank 1.373.879 715.514 348.212 88.266 180.702 38.791 2.394 Krediti bank in centralnih bank 412.045 0 66.686 174.530 6.506 163.617 706 Podrejene obveznosti 30.160 0 160 0 0 30.000 0 Druge finančne obveznosti 17.225 0 12.853 1.191 3.181 0 0 Rezervacije 7.116 0 418 193 1.975 3.077 1.453 Druge obveznosti 3.930 0 71 122 2.266 863 608 Osnovni kapital 20.384 0 0 0 0 0 20.384 Kapitalske rezerve 107.760 0 0 0 0 0 107.760 Akumulirani drugi vseobsegajoči donos 11.222 0 0 0 0 0 11.222 Rezerve iz dobička (vključno z zadržanim dobičkom) 104.335 0 0 0 0 0 104.335 Zadržani dobiček / izguba (vključno s čistim dobičkom / izgubo poslovnega leta) 300 0 0 0 0 0 300 Skupaj obveznosti in kapital (2) 2.585.983 723.427 569.796 325.354 240.592 368.218 358.596 Neusklajenost (1)-(2) 192.010 (373.148) (471.098) (258.684) 179.221 650.758 464.961 Opomba: V tabeli so prikazane nediskontirane postavke izkaza finančnega položaja Banke. Bilanca stanja po zapadlosti na dan 31. 12. 2013 EUR 1.000 Do 1 Od 1 - 3 Od 3 - 12 Vsebina Skupaj Na vpogled meseca mesecev mesecev Od 1 - 5 let Nad 5 let Denar v blagajni in stanje na računih pri centralnih bankah in vpogledne vloge pri bankah 245.532 205.530 40.002 0 0 0 0 Finančna sredstva, namenjena trgovanju 15.398 0 741 552 1.910 11.194 1.001 Finančna sredstva, razpoložljiva za prodajo 281.320 0 438 7.298 15.121 194.561 63.902 Izvedeni finančni instrumenti, namenjeni varovanju 7.008 0 136 2 542 1.844 4.484 Krediti 2.086.445 0 131.466 71.989 313.218 800.347 769.425 Krediti bankam 13.266 0 6.249 547 4.898 1.572 0 Krediti strankam, ki niso banke 2.068.172 0 120.331 71.329 308.312 798.775 769.425 Druga finančna sredstva 5.007 0 4.886 113 8 0 0 Finančna sredstva v posesti do zapadlosti 14.746 0 0 520 0 14.226 0 Opredmetena osnovna sredstva 9.163 0 0 0 0 0 9.163 Neopredmetena dolgoročna sredstva 19.472 0 0 0 0 0 19.472 Terjatve za davek od dohodkov pravnih oseb 11.868 0 0 0 1.004 10.864 0 Terjatve za davek 1.004 0 0 0 1.004 0 0 Odložene terjatve za davek 10.864 0 0 0 0 10.864 0 Druga sredstva 1.993 0 888 1.049 47 0 9 Skupaj sredstva (1) 2.692.945 205.530 173.671 81.410 331.842 1.033.036 867.456 Finančne obveznosti, namenjene trgovanju 17.188 0 660 532 2.700 12.411 885 Izvedeni finančni instrumenti, namenjeni varovanju 47.356 0 16 34 143 33.508 13.655 Finančne obveznosti, merjene po odplačni vrednosti 2.200.005 593.308 360.563 170.437 235.766 665.699 174.232 Vloge bank in centralnih bank 325.223 7.792 500 57.223 29.817 74.891 155.000 Vloge strank, ki niso banke 1.287.831 585.516 346.872 112.564 194.396 46.974 1.509 Krediti bank in centralnih bank 540.630 0 27 344 8.702 523.834 7.723 Podrejene obveznosti 30.173 0 173 0 0 20.000 10.000 Druge finančne obveznosti 16.148 0 12.991 306 2.851 0 0 Rezervacije 6.137 0 1.312 391 1.001 2.024 1.409 Druge obveznosti 4.191 0 1.776 21 289 1.810 295 Osnovni kapital 20.384 0 0 0 0 0 20.384 Kapitalske rezerve 107.760 0 0 0 0 0 107.760 Akumulirani drugi vse obsegajoči donos (4.465) 0 0 0 0 0 (4.465) Rezerve iz dobička (vključno z zadržanim dobičkom) 104.036 0 0 0 0 0 104.036 Zadržani dobiček / izguba (vključno s čistim dobičkom / izgubo poslovnega leta) 0 0 0 0 0 0 0 Skupaj obveznosti in kapital (2) 2.502.592 593.308 364.327 171.415 239.899 715.452 418.191 Neusklajenost (1)-(2) 190.353 (387.778) (190.656) (90.005) 91.943 317.584 449.265 Opomba: V tabeli so prikazani nediskontirane postavke izkaza finančnega položaja Banke. Upravljavci operativnega tveganja Celotna organizacija ter razdelitev pristojnosti in odgovornosti na področju upravljanja operativnega tveganja z vidika ocenjevanja / merjenja, spremljanja in obvladovanja operativnega tveganja je v UniCredit Banka Slovenija d.d. definirana na način, ki omogoča in zagotavlja pravočasno evidentiranje ter poročanje nastalih dogodkov operativnega tveganja, pravočasno vpeljavo ukrepov z namenom preprečitve nastanka škodnih dogodkov in učinkovito spremljanje ter obvladovanje operativnega tveganja. Uprava Banke je odgovorna za učinkovit pregled in razumevanje izpostavljenosti operativnemu tveganju. Uprava Banke in višje vodstvo so prav tako odgovorni za preverjanje, ali sta merjenje in sistem nadzora operativnega tveganja močno integrirana v dnevni proces obvladovanja tveganj Banke. Ključni organ v Banki za sprejemanje odločitev, povezanih z operativnim tveganjem, je odbor za operativno tveganje. Na sestankih odbora za operativno tveganje se podrobno analizirajo nastali škodni dogodki v Banki, vključno z analizo o možnih izboljšavah procesov / produktov / sistemov znotraj Banke. Na osnovi poročil o operativnem tveganju, člani Odbora za operativno tveganje predlagajo in nadzirajo procedure za kontrolo in spremljanje operativnega tveganja. Uprava Banke je redno obveščena o vseh pomembnih dogodkih operativnega tveganja, pomembnih temah, spremembah ter novostih in o morebitnih kršitvah na področju operativnega tveganja. V skupini UniCredit je ključni organ odbor za operativno tveganje, ki vsako četrtletje zaseda na Dunaju in se ga udeležujejo vse posamezne banke v Skupini. Odbor ima funkcijo spremljave in svetovanja na naslednjih področjih: profili in dejavniki tveganja; struktura in definicija limitov; spremembe upravljavskega in kontrolnega okolja za operativna tveganja; strategije za izboljšanje učinkovitosti na področju operativnih tveganj; obravnava akcijskih načrtov za implementacijo dodatnih kontrol / ukrepov, vključno z določitvijo odgovornih enot za njihovo izvedbo in spremljanje v zvezi z ugotovitvami letnega ocenjevanja primernosti sistema upravljanja operativnega tveganja na nivoju celotne skupine UniCredit, kot tudi priporočil notranje revizije; ter tudi obravnava tem s področja tveganj ter izvajanja procesa ocenjevanja notranjega kapitala banke (ICAAP). Odbor za operativno tveganje v skupini UniCredit ima tudi pooblastila za presojo in odobritev za naslednja področja: regulativa in odobravanje politik s področja operativnega tveganja in tveganja ugleda; kontrolni in korektivni ukrepi za izravnavanje pozicij na področju operativnega tveganja v skupini UniCredit; strategije v zvezi z zavarovanji in zavarovalnimi policami na področju skupine UniCredit; metodologije za merjenje in upravljanja ter kontrolo operativnih tveganj; odobravanje politik in regulative s področja tveganja ugleda v primerih nekaterih panog ekonomije (t.i. ‘sive cone’), ko je potrebna dodatna presoja za to odgovornih odborov. Funkcija upravljanja operativnega tveganja poteka znotraj samostojne skupine za operativno tveganje, v okviru divizije Upravljanje s tveganji, v tesnem sodelovanju z ostalimi upravitelji operativnega tveganja, ki so imenovani za vsako poslovno divizijo in štabno službo. Skupina za operativno tveganje zagotavlja redno kontrolo nad operativnim tveganjem in je odgovorna za identifikacijo, ocenjevanje, nadzor in zmanjševanje ter kontrolo operativnega tveganja. Skupina je vključena tudi v postopek vpeljave novih produktov. Upravitelji operativnega tveganja so odgovorni za vzpostavitev ustreznih ukrepov za zmanjšanje in preprečevanje operativnega tveganja ter sklenitev morebitnega zavarovanja pred tveganjem. Vsako leto skupina za operativno tveganje organizira tudi celodnevno delavnico za vse upravitelje operativnih tveganj v Banki z namenom predstavitve pomembnih aktualnih dogajanj in novosti, s čimer se utrjuje znanje upraviteljev operativnih tveganj in skrbi za krepitev zavedanja o pomenu aktivnega nadzora in upravljanja operativnega tveganja. Sistem merjenja operativnega tveganja Od septembra 2009 Banka uporablja napredni pristop (Advanced Measurement Approach – AMA pristop) za merjenje in izračun kapitalske zahteve za operativno tveganje. Napredni model izračuna kapitalske zahteve za operativno tveganje so razvili na ravni skupine UniCredit. Model uporablja kombinacijo notranjih podatkov, zunanjih podatkov, analize scenarijev in dejavnikov, ki odražajo poslovno okolje in notranje kontrole. Okvir spremljanja operativnega tveganja predstavlja aplikacija Application for Risk Gauging Online (v nadaljevanju: ARGO). Gre za programsko orodje, ki so ga razvili v okviru Skupine in je namenjeno spremljanju operativnega tveganja. ARGO združuje posamezne sestavine okvira upravljanja operativnega tveganja v enotno orodje, ki temelji na intranetu. ARGO obsega zajemanje, poročanje in analiziranje podatkov, povezanih z operativnim tveganjem, ki omogočajo identifikacijo tveganj, merjenje, nadzor, poročanje in analizo in na ta način omogočajo učinkovito upravljanje Banke z operativnim tveganjem. Mreža neodvisnih funkcij in skupin, ki so vključene v upravljanje in kontrolo tveganj, zagotavlja upravi Banke zadostne informacije za upravljanje z operativnim tveganjem. V letu 2012 je bila ustanovljena posebna delovna skupina v okviru odbora za operativna tveganja, ki zagotavlja redno spremljanje ukrepov za zmanjšanje operativnih tveganj in aktivnosti ter ugotovitev na posameznih ravneh upravljanja v Banki. Vsako četrtletje skupina pripravi posebno poročilo s pregledom vseh sprejetih in planiranih ukrepov za zmanjšanje operativnih tveganj na vseh ravneh upravljanja po posameznih poslovnih področjih in redno spremlja izvajanje tovrstnih ukrepov v Banki. Računovodski izkazi Bančna tveganja Sistem za ocenjevanje in merjenje operativnih tveganj temelji na štirih ključnih elementih: zbiranje in analiziranje notranjih dogodkov operativnega tveganja, zunanji dogodki operativnega tveganja, letna analiza scenarijev operativnega tveganja in redno spremljanje dejavnikov / indikatorjev tveganja. Zbiranje škodnih dogodkov Škodni dogodki se zbirajo od leta 2002 in so prispevali k: • širitvi zavedanja o operativnem tveganju na vseh ravneh v Banki, • pridobivanju izkušenj pri samem pojmovanju operativnega tveganja in orodjih, • poglobljenem razumevanje o vključenosti / povezanosti različnih tveganj v poslovni proces. Aktivnosti identifikacije, beleženja, zbiranja, potrjevanja in poročanja škodnih dogodkov so organizirane decentralizirano, na ravni organizacijskih enot v Banki. Banka zbira vse izgube in dobičke, ki so povezani z dogodki operativnih tveganj, z zneskom nad 100 evrov in vse potencialne izgube nad 10.000 evrov. Vsak dogodek operativnega tveganja se uvrsti v eno izmed sedmih kategorij tveganja po Basel II standardih (ORX standard): • notranja goljufija, • zunanja goljufija, • ravnanje v zvezi z zaposlovanjem in varnostjo pri delu, • stranke, produkti in poslovna praksa, • škoda na premičnem in nepremičnem premoženju, • poslovne motnje in izpadi sistemov, • izvedba, dostava in upravljanje procesov. Izgube operativnih tveganj se redno usklajujejo z računovodskimi izkazi, da bi s tem zagotovili popolnost zbranih izgub iz operativnih tveganj. Delež neto izgub iz operativnega tveganja po kategorijah tveganja 00 193.645 (411.032) 00 (209.678) (5.524) (1.399) (6.890) (250)(179.722) (104.820) 2014 2013 400.000 200.000 0 (200.000) (400.000) (600.000) (800.000) (1.000.000) (1.200.000) (1.400.000) Notranja goljufija Zunanja Ravnanje v zvezi z Stranke, produkti in Škoda na premičnem Poslovne motnje in Izvedba, dostava in goljufija zaposlovanjem in poslovna praksa in nepremičnem izpadi sistemov upravljanje procesov varnostjo pri delu premoženju Banka se zavzema za uvedbo ukrepov, s katerimi upravlja in zmanjšuje izpostavljenost operativnemu tveganju in preprečuje nastanek podobnih škodnih dogodkov v prihodnosti. Vpeljava ukrepov za zmanjševanje operativnega tveganja se redno nadzira. Indikatorji tveganja Indikatorji tveganja so numerične spremenljivke, katerih trend je povezan z izpostavljenostjo procesov operativnemu tveganju. Indikatorji tveganja so merljivi podatki oziroma kazalniki, ki odražajo izpostavljenost operativnemu tveganju: vrednost indikatorja mora biti povezana s spremembo v velikosti tveganja. Redno spremljanje indikatorjev tveganja omogoča pridobitev informacije o povečanju tveganja za nastanek škodnega dogodka tako funkciji upravljanja z operativnim tveganjem kot tudi lastnikom procesov in osebam, ki so neposredno zadolžene za upravljanje s tveganjem na način, da ima lastnik procesa še dovolj časa, da z uvedbo ukrepa prepreči nastanek škodnega dogodka. Proces izbora indikatorjev vključuje funkcijo upravljanja z operativnim tveganjem in lastnike procesa. Proces temelji na analizi internih podatkov o izgubah, zunanjih dogodkih (iz baze ORX, ki vključuje operativne dogodke celotne svetovne ekonomije), scenarijev ter analizi notranjih kontrol in strokovnjakovih pobudah za procese, mnenju notranje revizije ter spremembah v poslovnemu okolju. Analiza scenarijev Namen analize scenarijev je oceniti stopnjo izpostavljenosti Banke operativnemu tveganju zaradi možnih dogodkov operativnega tveganja, ki se zgodijo z majhno verjetnostjo, vendar takrat lahko povzročijo Banki visoke izgube. Pri analizi scenarijev analiziramo pretekle dogodke operativnega tveganja, ki so se zgodili znotraj Banke, v skupini UniCredit ter zunanje dogodke iz baze ORX, prekoračitve pri indikatorjih tveganja, predvsem pa se pri definiranju najbolj relevantnih / možnih črnih scenarijev za Banko upošteva oceno ključnih zaposlenih, ki imajo največ znanja in izkušenj na svojim področju delovanja ter predloge notranje revizije in vodstva Banke. Rezultati v smislu najslabšega možnega scenarija, kritičnih procesov, predlogov ukrepov za zmanjšanje tveganja ali učinkov na tvegani kapital so posebej opisani v poročilih scenarijev. Interna ocena Glavni namen letnega procesa internega ocenjevanja je ocenitev primernosti sistema upravljanja operativnega tveganja kot tudi ocenitev skladnosti s standardi skupine UniCredit in z regulatornimi zahtevami za uporabo naprednega pristopa za merjenje kapitalske zahteve za operativno tveganje. Cilj letne interne ocene je identifikacija glavnih značilnosti posameznih operativnih tveganj, ki so specifični za naše okolje in ocenjevanje ustreznosti vzpostavljenega kontrolnega okolja. V primeru ugotovljenih pomanjkljivosti se izdela akcijski načrt za implementacijo dodatnih kontrol / ukrepov, vključno z določitvijo odgovornih enot za njihovo izvedbo in spremljanje, skladno z začrtanim časovnim okvirjem. Pravna tveganja in tveganja skladnosti Banke so visoko regulirane finančne ustanove in s strani pristojnih organov tudi stalno nadzorovane, saj prinašajo in nosijo sistemsko tveganje. Banka je v okviru svojega poslovanja in delovanja izpostavljena pravnemu tveganju in tveganju skladnosti (compliance risk). Pravno tveganje je tveganje nastanka izgube, zaradi kršenja ali nepravilnega upoštevanja zakonov, podzakonskih aktov, navodil, priporočil, sklenjenih pogodb, dobre bančne prakse ali etičnih norm. Tveganje skladnosti je tveganje finančne izgube, izgube ugleda ali nastopa posameznih regulatornih ukrepov ali sankcij zaradi neskladnosti ravnanja banke z zakoni, drugimi zunanjimi in notranjimi predpisi ter relevantnimi standardi in kodeksi poslovanja. Naš namen je identificirati, upravljati, nadzirati in zmanjševati pravna tveganja in tveganja skladnosti, ki jim je Banka izpostavljena. Banka si prizadeva aktivno zmanjševati zgoraj navedena tveganja skozi njihovo prepoznavanje, vzpostavitev ustreznih standardov in postopkov za njihovo upravljanje, kot tudi z zagotavljanjem skladnosti preko ukrepov in postopkov aktivnega nadzora. Politika obvladovanja pravnih tveganj in tveganja skladnosti je vpeljana skozi identifikacijo le-teh in s ponavljajočim rednim ter sistematičnim pregledom področij, kjer je bilo ugotovljeno, oziroma je prisotno tovrstno tveganje ter z določitvijo odgovornosti za razvoj ustreznih postopkov za upravljanje in zmanjševanje tveganj in skozi vzpostavitev postopkov za nadzor skladnosti, upoštevajoč zahtevane standarde. Pravnemu tveganju in tveganju skladnosti se ne moremo v celoti izogniti in ju povsem izničiti ter ju je tudi zelo težko vnaprej napovedati. Banka je sicer vključena v izrazito majhno število pravnih postopkov / sporov, ki niso pogojeni s položajem Banke za izterjavo svojih terjatev do strank. Banka ima vzpostavljeno funkcijo skladnosti poslovanja, ki poleg izvajanja redne ocene tveganja skladnosti izvaja tudi sistem drugostopenjskih notranjih kontrol, s pomočjo katerih aktivno upravlja s tveganjem skladnosti, pri čemer ima vpeljan tudi sistem nadzora konfliktov interesov, t.i. »whistleblowing-a«, ter protikorupcijske ukrepe. Poslovno tveganje Poslovno tveganje je opredeljeno kot neugodna in nepričakovana sprememba obsega poslovanja in / ali marž, ki jih ni mogoče pripisati drugim vrstam tveganj, ter ima za posledico nihanje prihodkov in stroškov brez upoštevanja izrednih dogodkov. Spremembe obsega poslovanja so lahko rezultat nepričakovanega razvoja tržnih gibanj, nepričakovanega vedenja strank, novih tržnih udeležencev / produktov ali spremembe zakonodaje. Računovodski izkazi Bančna tveganja Izračun poslovnega tveganja temelji na modelu tveganja neto prihodkov (earnings-at-risk model), ki uporablja časovno vrsto prihodkov in stroškov. Merjenje poslovnega tveganja meri vpliv zunanjih dejavnikov na upadanje dobičkov in učinek na tržno vrednost. Kot del splošnega upravljanja z dohodki in stroški je operativno upravljanje poslovnega tveganja odgovornost posameznih poslovnih enot. Tveganja iz naslova deležev in kapitalskih udeležb Banke UniCredit Banka Slovenija d.d. ni aktivna pri dolgoročnih naložbah v delnice za svoj račun z namenom, da bi realizirala kratkoročno trgovanje ali bistvena dolgoročna povečanja vrednosti. Deleži Banke so bodisi tesno povezani z njenim poslovanjem (SWIFT, Bankart, itd.) ali pa rezultat poskusov prestrukturiranja. Banka je v septembru leta 2014 prodala delnice družbe Mercator d.d., ki so do takrat predstavljale največjo kapitalsko naložbo Banke. Tveganja na področju nepremičnin UniCredit Banka Slovenija d.d. ne vlaga v nepremičnine, zato temu tveganju ni izpostavljena. Upravljanje s kapitalom V okviru procesa ocenjevanja ustreznega notranjega kapitala se UniCredit Banka Slovenija d.d. osredotoča na ekonomski pogled usklajevanja ekonomskega kapitala (kapitalska zahteva) s sposobnostjo prevzemanja tveganja (lastniški kapital) v skladu z drugim stebrom kapitalskega sporazuma. Ekonomski kapital se izračuna za preteklo obdobje, in sicer vsake tri mesece, vendar se spremlja tudi v okviru letnega procesa načrtovanja. Kapitalska zahteva in razpoložljivi kapital se spreminjata skozi čas, zato Banka zagotovi, da kapitalska zahteva (ki izhaja predvsem iz poslovnih načrtov in napovedi o profilu tveganja v povezavi z makroekonomskimi scenariji) ne preseže razpoložljivega kapitala ter da se razpoložljivi kapital (na katerega vplivajo zlasti načrtovane transakcije s kapitalom in pričakovani dobički) ohrani na določeni ravni, ki omogoča Banki kritje ocenjenih tveganj v vsakem trenutku. Ekonomski kapital banke naj bi odseval specifičen profil tveganja banke na obširen in dosleden način. Z izjemo likvidnostnega tveganja se ekonomski kapital izračuna z uporabo enotne VaR metode za vse vrste tveganj, ki so bile omenjene v poglavju Bančna tveganja. Poseben dejavnik, ki ga je potrebno upoštevati pri potrebnem tveganem kapitalu, je poslovno tveganje, ki odseva vpliv zunanjih dejavnikov kot so obnašanje potrošnika ali konkurenčnih razmer na tržno vrednost poslovnih enot ali podružnic. Nepričakovane izgube za obdobje enega leta so izračunane s stopnjo zaupanja 99,83 %. Celotno odgovornost za prepoznavanje tveganj in ocene stopnje tveganj prevzema ALCO. Poleg ekonomskega vidika mora Banka izpolnjevati tudi pravne predpise določene z Uredbo (EU) št. 575/2013 Evropskega Parlamenta in Sveta z dne 26. junija 2013 o bonitetnih zahtevah za kreditne institucije in investicijska podjetja (Uredba CRR) in slovensko zakonodajo. Regulatorni kapital za kreditno, tržno in operativno tveganje mora ustrezati kapitalski zahtevi. Uprava Banke redno spremlja kapitalsko ustreznost, o kateri poroča Banki Slovenije vsake tri mesece. Banka Slovenije zahteva, da vse banke ohranijo stopnjo skupnega regulatornega kapitala (stopnja kapitalske ustreznosti), ki po mednarodnem dogovoru znaša najmanj 8 % tveganjem prilagojenih zneskov. Spodnji tabeli predstavljata kratek pregled sestave regulatornega kapitala in stopnjo kapitalske ustreznosti ob koncu let 2014 in 2013. Podajamo dve ločeni tabeli, saj je s 1januarjem 2014 začela veljati zgoraj omenjena uredba CRR, ki v letu 2013 še ni veljala in tabeli med seboj nista primerljivi. Količnik kapitalske ustreznosti je narasel iz 16,92 % ob koncu leta 2013 na 19,66 % ob koncu leta 2014. Tier 1 količnik kapitalske ustreznosti pa je narasel iz 15,55 % ob koncu leta 2013 na 17,54 % ob koncu leta 2014. Banka je skozi celotno opazovano obdobje izpolnjevala predpisane kapitalske zahteve s strani regulatorja in hkrati povečala varnost poslovanja. Izračun kapitala in kapitalske zahteve na dan 31.12.2014 EUR 1.000 Oznaka Postavka Znesek 1 KAPITAL 237.625 1.1 TEMELJNI KAPITAL 211.971 1.1.1 NAVADNI LASTNIŠKI TEMELJNI KAPITAL 211.971 1.1.1.1 Kapitalski instrumenti, sprejemljivi kot navaden lastniški temeljni kapital 128.143 1.1.1.1.1 Vplačani kapitalski instrumenti 20.384 1.1.1.1.3 Vplačani presežek kapitala 107.760 1.1.1.2 Zadržani dobiček 104.036 1.1.1.2.1 Zadržani dobiček preteklih let 104.036 1.1.1.2.2 Priznan dobiček ali izguba 0 1.1.1.2.2.1 Dobiček ali izguba, ki pripada nadrejenim lastnikom 599 1.1.1.2.2.2 (-) Del dobičkov med letom ali čistih dobičkov poslovnega leta, ki ni priznan (599) 1.1.1.3 Akumulirani drug vseobsegajoči donos 11.222 1.1.1.11 (-) Druga neopredmetena sredstva (18.802) 1.1.1.12 (-) Odložene terjatve za davek, ki se nanašajo na prihodnji dobiček in ne izhajajo iz začasnih razlik, zmanjšanih za povezane obveznosti za davek (2.777) 1.1.1.13 (-) Primanjkljaj popravkov zaradi kreditnega tveganja glede na pričakovane izgube v okviru pristopa IRB (71) 1.1.1.16 (-) Presežek odbitka od postavk dodatnega temeljnega kapitala nad dodatnim temeljnim kapitalom (15.070) 1.1.1.26 Druge prehodne prilagoditve navadnega lastniškega temeljnega kapitala 5.290 1.1.2.9 Druge prehodne prilagoditve dodatnega temeljnega kapitala (15.070) 1.2 DODATNI KAPITAL 25.654 1.2.1 Kapitalski instrumenti in podrejeni dolgovi, sprejemljivi kot dodatni kapital 22.481 1.2.1.1 Vplačani kapitalski instrumenti in podrejeni dolgovi 22.481 1.2.1.1* Pojasnjevalna postavka: Kapitalski instrumenti in podrejeni dolgovi, ki niso sprejemljivi 7.519 1.2.5 Presežek rezervacij nad sprejemljivimi pričakovanimi izgubami v okviru pristopa IRB 3.202 1.2.10 Druge prehodne prilagoditve dodatnega kapitala (28) 2 ZNESEK SKUPNE IZPOSTAVLJENOSTI TVEGANJEM 1.208.752 2.1 ZNESKI TVEGANJU PRILAGOJENIH IZPOSTAVLJENOSTI ZA KREDITNO TVEGANJE, KREDITNO TVEGANJE NASPROTNE STRANKE IN TVEGANJE ZMANJŠANJA VREDNOSTI TER PROSTE IZROČITVE 1.092.571 2.1.1 Standardizirani pristop (SA) 558.894 2.1.1.1 Kategorije izpostavljenosti na podlagi standardiziranega pristopa brez pozicij v listinjenju 558.894 2.1.1.1.02 Izpostavljenosti do enot regionalne ali lokalne ravni držav 25.924 2.1.1.1.03 Izpostavljenosti do subjektov javnega sektorja 11.329 2.1.1.1.06 Izpostavljenosti do institucij 91 2.1.1.1.07 Izpostavljenosti do podjetij 42.651 2.1.1.1.08 Izpostavljenosti na drobno 274.013 2.1.1.1.09 Izpostavljenosti, zavarovane s hipotekami na nepremičnine 132.970 2.1.1.1.10 Neplačane izpostavljenosti 49.421 2.1.1.1.15 Lastniški instrumenti 110 2.1.1.1.16 Druge postavke 22.385 2.1.2 Pristop na podlagi notranjih bonitetnih ocen (IRB) 533.677 2.1.2.1 Pristopi IRB, kadar se ne uporabljajo lastne ocene LGD ali konverzijski faktorji 533.605 2.1.2.1.02 Izpostavljenosti do institucij 75.510 2.1.2.1.03 Izpostavljenosti do podjetij - MSP 145.087 2.1.2.1.05 Izpostavljenosti do podjetij - drugo 313.008 2.1.2.3 Lastniški instrumenti po pristopu IRB 71 Računovodski izkazi Bančna tveganja 2.2 ZNESEK SKUPNE IZPOSTAVLJENOSTI TVEGANJEM PORAVNAVE / IZROČITVE 0 2.3 ZNESEK SKUPNE IZPOSTAVLJENOSTI TVEGANJEM ZA POZICIJSKO IN VALUTNO TVEGANJE TER TVEGANJE SPREMEMBE CEN BLAGA 400 2.3.1 Znesek izpostavljenosti tveganjem za pozicijsko in valutno tveganje ter tveganje spremembe cen blaga, izračunan po standardiziranih pristopih 400 2.3.1.1 Dolžniški instrumenti, s katerimi se trguje na borzi 400 2.4 ZNESEK SKUPNE IZPOSTAVLJENOSTI TVEGANJEM ZA OPERATIVNO TVEGANJE (OpR) 115.703 2.4.3 OpR napredni pristopi za merjenje (AMA) 115.703 2.6 ZNESEK SKUPNE IZPOSTAVLJENOSTI TVEGANJEM ZA PRILAGODITEV KREDITNEGA VREDNOTENJA 79 2.7 ZNESEK SKUPNE IZPOSTAVLJENOSTI TVEGANJEM V ZVEZI Z VELIKIMI IZPOSTAVLJENOSTMI V TRGOVALNI KNJIGI 0 2.8 ZNESKI DRUGIH IZPOSTAVLJENOSTI TVEGANJEM 0 3 Presežek (+) / primanjkljaj (-) skupnega kapitala 140.925 3a Količnik skupnega kapitala 19,66 % 3b Količnik temeljnega kapitala 17,54 % Izračun kapitala in kapitalske zahteve na dan 31. 12. 2013 EUR 1.000 Oznaka Postavka Znesek 1 SKUPAJ KAPITAL (za namen kapitalske ustreznosti) 222.884 1.1 TEMELJNI KAPITAL 212.708 1.1.1.1 Vplačani osnovni kapital 20.384 1.1.1.3 Kapitalske rezerve 107.760 1.1.2.1 Rezerve in zadržani dobiček ali izguba 104.036 1.1.2.6 Presežki iz prevrednotenja (PP) - bonitetni filtri 0 1.1.5 (-) Ostale odbitne postavke temeljnega kapitala (19.472) 1.1.5.1 (-) Neopredmetena dolgoročna sredstva (19.472) 1.1.5.4 (-) Druge deželno specifične odbitne postavke 0 1.2 DODATNI KAPITAL I 26.000 1.2.2.3 Podrejeni dolg I 26.000 1.3 (-) ODBITNE POSTAVKE OD TEMELJNEGA IN DODATNEGA KAPITALA I (15.824) 1.3.8 (-) Primanjkljaj oslabitev in rezervacij po pristopu IRB ter pričakovana izguba iz naslova lastniških instrumentov po pristopu IRB (15.824) 1.4 SKUPAJ TEMELJNI KAPITAL (za namen kapitalske ustreznosti) 204.796 1.5 SKUPAJ DODATNI KAPITAL I (za namen kapitalske ustreznosti) 18.088 2 KAPITALSKE ZAHTEVE 105.361 2.1 VSOTA KAPITALSKIH ZAHTEV ZA KREDITNO TVEGANJE, TVEGANJE NASPROTNE STRANKE IN TVEGANJE ZARADI ČASOVNE NEUSKLAJENOSTI PLAČILA IN IZROČITVE 93.919 2.1.1 Standardizirani pristop (SA) 51.830 2.1.1.1a SA kategorije izpostavljenosti brez pozicij listinjenja 0 2.1.1.1b IRB kategorije izpostavljenosti brez pozicij listinjenja 51.830 2.1.1.1b.01 Enote centralne ravni države in centralne banke 505 2.1.1.1b.02 Institucije 3.378 2.1.1.1b.03 Podjetja 6.134 2.1.1.1b.04 Bančništvo na drobno 39.942 2.1.1.1b.06 Druga sredstva iz naslova nekreditnih obveznosti 1.871 2.1.2 Pristop na podlagi notranjih bonitetnih sistemov (IRB) 42.089 2.1.2.1 Nadzorniško določene ocene LGD (in CF) 42.064 2.1.2.1.02 Institucije 3.022 2.1.2.1.03 Podjetja 39.042 2.1.2.3 Kategorija izpostavljenosti iz naslova lastniških instrumentov 25 2.2 TVEGANJE PORAVNAVE 0 2.3 VSOTA KAPITALSKIH ZAHTEV ZA POZICIJSKO TVEGANJE, VALUTNO TVEGANJE IN TVEGANJE SPREMEMB CEN BLAGA 41 2.4 KAPITALSKA ZAHTEVA ZA OPERATIVNO TVEGANJE 11.401 2.4.3 Napredni pristop 11.401 2.6 DRUGE IN PREHODNE KAPITALSKE ZAHTEVE 0 3.2 Presežek (+) / primanjkljaj (-) kapitala 117.523 3.2.a Količnik kapitalske ustreznosti (%) 16,92 % Tier 1 količnik kapitalske ustreznosti (%) 15,55 % Mag. Stefan Vavti Francesco Vercesi, MBA Damijan Dolinar, CFA Mag. Günter Friedl, MBA, MAS Predsednik uprave Član uprave Članica uprave Član uprave Finančni direktor T his year’s report depicts how innovative UniCredit products and ideas help our customers and businesses respond to the challenges of this changing world. By spotlighting sophisticated, new multichannel products and services we have developed to meet the modern needs of our customers, we show how our bank is adapting to rapid changes – and how our solutions are helping our customers adapt at the same time. At UniCredit, we make it easy for the people who bank with us to take full advantage of the technologies and customized services now available to them – so that they can achieve their goals and live their lives on their own terms. As their partner, we have a clear responsibility to provide them the flexibility, the foresight and the tools they need to overcome obstacles and seize new opportunities. The world is changing. Let’s change together. Translation of 2014 Annual Report Introduction 2014 2013 2012 Statement of Financial Position (EUR '000) Volume of assets 2,578,732 2,488,557 2,815,367 Deposits, customers 1,368,511 1,276,833 1,227,789 Deposits, legal and other entities 852,556 784,478 784,264 Deposits, private customers 515,955 492,355 443,525 Loans, customers 1,743,570 1,895,472 2,269,317 Loans, legal and other entities 1,023,251 1,137,984 1,495,493 Loans, private customers 720,319 757,488 773,824 Equity 244,001 227,715 251,623 Impairment of assets, measured at amortised cost 200,700 170,431 113,405 Provisions 7,116 6,137 2,443 Off-balance-sheet items 2,927,580 3,685,267 3,844,597 Statement of Income (EUR '000) Net interest income 48,626 48,389 55,970 Net non-interest income 21,596 23,842 21,306 Turnover (net interest income and net non-interest income) 70,222 72,231 77,276 Staff costs (22,259) (22,640) (23,928) Other administrative costs (11,720) (12,337) (12,908) Depreciation (5,113) (5,052) (4,586) Impairments and provisions (30,517) (79,595) (35,544) Net income before taxes 613 (47,393) 310 Corporate income tax (14) 8,194 763 Statement of Other Comprehensive Income (EUR '000) Other compehensive income before tax 18,899 17,196 12,924 Income tax on other comprehensive income (3,212) (2,924) (3,262) Employees Number of employees on 31 December 563 576 601 Number of full time equivalents on 31 December 516.0 535.2 559.1 Shares Number of shareholders 25 26 27 Nominal value (EUR) 4.17 4.17 4.17 Book value (EUR) 49.92 46.58 51.48 Number of shares 4,888,193 4,888,193 4,888,193 Equity Capital adequacy 19.7 % 16.9 % 13.5 % Assets Quality and Commitments Impairment of assets measured at amortised cost and provision / Sorted assets and sorted off-balance sheet positions 7.0 % 5.9 % 3.6 % Profitability Interest margin 1.8 % 1.8 % 1.9 % Margin of financial brokerage 2.6 % 2.6 % 2.6 % Return on assets after taxes 0.0 % (1.4 %) 0.0 % Return on equity before taxes 0.3 % (19.3 %) 0.1 % Return on equity after taxes 0.3 % (15.9 %) 0.4 % Operating costs Operating costs / average assets volume 1.5 % 1.5 % 1.4 % Liquidity Liquid assets / short-term deposits non-banks measured at amortised cost 43.9 % 34.7 % 29.9 % Liquid assets / average assets 21.7 % 14.5 % 9.1 % 119 120 122 123 Introduction Organisational Structure BOARD Legend: Department Unit Section Region Branch / Outlet 128 It isn’t always easy to seethings clearly. It’s easy. Precision, in just one click. Goodbye receipts and daily ledgers. Hello online accounting. UniCredit Family Budget, a new web-based personal financial management service, sorts expenses into different categories and creates easy-to-understand charts and graphs to help you track transactions and balances. It offers an intuitive, practical approach to online banking, helping you manage savings and monitor accounts. Because the future begins with real answers. 133 Time is precious. Give it more value. Advice when you want it. Everyone needs advice. And no one wants to waste time. That is why we created Video Advice@home. This convenient service delivers expert advice online, allowing you to connect with our consultants from the comfort of home. Easy-to-install software enables us to respond quickly to questions about your current account, car loan or mortgage. We can create value for you, whenever and wherever you need us. 136 Our Strategy On March 11, 2014, our Board of Directors approved the five-year Strategic Plan with the object of ensuring sustained profitability over the coming years. The plan is based on solid fundamentals, a strong culture of risk management and an improving macroeconomic climate. Our goals are to consolidate our leading position in corporate financial services across Europe, to institute an innovative mindset throughout our retail network, and to establish a cutting-edge digital footprint. UniCredit understands its role as part of a far-reaching system that leverages resources, or capital, to generate shared value. Indeed, the solidity of our business depends on the prosperity of our customers and of the communities in which we operate. To create greater value we, as a bank, develop innovative solutions that form attractive investment opportunities and also generate positive outcomes for our Group. We adopted our five-year strategic plan building on our solid fundamentals, with the purpose of ensuring sustained profitability, and making the best possible use of the resources at our disposal. This is how we continue to respond effectively to our stakeholders' priorities. CaPItalS* StRatEGIC PIllaRS 1. tRaNSFORM COMMERCIal BaNKING IN WEStERN MaRKEtS • A new approach to retail banking • Serve growing non-lending needs of Corporate clients • Enhance the Private Banking business model 2. INVESt IN BUSINESSES GROWtH • Rebalance Group capital allocation towards CEE • Focus on “expansion countries” • Support capital-light businesses (Asset Gathering, Asset Management) Highlights UniCredit is a leading European commercial bank operating in 17 countries with more than 147,000 employees, over 8,500 branches and with an international network spanning in about 50 markets. UniCredit benefits from a strong European identity, extensive international presence and broad customer base. Our strategic position in Western and Eastern Europe gives us one of the region's highest market shares. OVER 147,000 Employees1 OVER 8,500 Branches2 10.41 % REVENUES BY BUSINESS LINES* REVENUES BY REGION* Commercial Banking Italy CEE Division Italy Corporate & Investment Banking Germany Commercial Banking AustriaGermany Poland Poland CEE Commercial Banking Austria Asset Management Asset Gathering 1. Data as at December 31, 2014. FTE = “Full Time Equivalent”: number of employees counted for the rate of presence. Figures include all employees of Koç Financial Services Group (Turkey). 2. Data as at December 31, 2014. Figures include all branches of Koç Financial Services Group (Turkey). * Data as at December 31, 2014. Where we are AUSTRIA AZERBAIJAN BOSNIA AND hERZEGOVINA BULGARIA CROATIA CZECh REpUBLIC GERMANY hUNGARY ITALY pOLAND ROMANIA RUSSIA SERBIA SLOVAKIA SLOVENIA TURKEY UKRAINE MARKET ShARE3 (%) AUSTRIA BOSNIA AND hERZEGOVINA BULGARIA CROATIA CZECh REpUBLIC GERMANY hUNGARY ITALY MARKET ShARE (%) pOLAND ROMANIA RUSSIA 1.6 SERBIA SLOVAKIA SLOVENIA TURKEY UKRAINE 3. Market Shares in terms of Total Assets as 31 December 2014 for CEE Countries. Market Shares in terms of Total Customer Loans as at December 31, 2014 for Italy, Germany and Austria. Source: UniCredit National Center Banks, UniCredit Research, UniCredit CEE Strategic Analysis. Data as of September 30, 2014 , except for Bosnia and Herzegovina, Slovenia (2Q 2014), Romania (1Q 2014), Hungary (FY 2013) and Bulgaria (3Q 2014). * Data as of november 30, 2014. Our approach UniCredit holds significant responsibilities within a complex value chain and we use different types of capitals -financial, human, social, intellectual and environmental as inputs to contribute to our economy and society at large. These inputs heavily influence our business model and the quality of the products and services that we provide, i.e., our outputs. We have studied our impact extensively, and we have become ever more aware of the vital role we play in the real economies of the countries where we operate. A responsible approach guides everything we do, from our core banking activities to our corporate citizenship initiatives. These initiatives emphasize financial inclusion and education, complementing our philanthropy in the field of social inclusion. We strongly believe that communities that provide a genuine diversity of opportunities nurture the innovative environment that enables both people and businesses to thrive. CaPItalS1 CaPItalS1 1. See 2014 Sustainability Report for details. Source: adapted from the IIRC framework. The data is clear. Personalized support services make it clearer. Clear-cut answers for the future. The path to knowledge begins with understanding. Babel is an application that transforms data into useful and accurate information. With it, we can develop personalized products and services, just for you. Babel ensures that we will always meet your expectations and that we help you with important changes in your life. Because information is key to anticipating the future. 145 147 Technology is for youngpeople. Young people of all ages. The future is for everyone. Simplicity and clarity appeal to all of us. That’s way UniCredit created Subito Banca via Internet, a practical online banking interface with common sense graphics, intuitive navigation buttons and large fonts. We are making our online services easy to use even by people unfamiliar with new technologies. We are offering solutions based on the preferences of more than 300 customers over the age of 60, collected during workshops and laboratories in Italy. We are proof that you can always innovate in a new way. 160 161 167 Financial Statements Financial Statements Statement of Financial Position Statement of Comprehensive Income Statement of Changes in Equity Statement of Cash Flows Summary of Accounting Policies Notes on the Financial Statements Risk Report 204 Statement of Financial Position EUR ’000 Item Note 31/12/2014 31/12/2013 Cash, cash balances with the Central Bank and demand deposits to banks 1 350,279 245,530 Financial assets held for trading 2 16,368 15,394 Available-for-sale financial assets 3 354,360 251,352 Derivatives - hedge accounting 4 11,950 7,008 Loans and receivables 5 1,797,196 1,913,724 To banks 41,484 13,245 To customers 1,743,570 1,895,472 Other financial assets 12,142 5,007 Held-to-maturity financial assets 6 13,160 13,053 Property, plant and equipment 7 7,327 9,163 Intangible assets 8 18,802 19,472 Tax assets 9 7,637 11,868 Current tax assets - 1,004 Deferred tax assets 7,637 10,864 Other assets 10 1,653 1,993 TOTAL ASSETS 2,578,732 2,488,557 Financial liabilities held for trading 11 17,239 17,188 Derivatives - hedge accounting 12 53,415 47,356 Financial liabilities measured at amortised cost 13 2,253,031 2,185,970 Deposits from banks and central banks 425,935 323,731 Deposits from customers 1,368,511 1,276,833 Loans from banks and central banks 411,250 539,141 Subordinated liabilities 30,110 30,117 Other financial liabilities 17,225 16,148 Provisions 14 7,116 6,137 Other liabilities 15 3,930 4,191 TOTAL LIABILITIES 2,334,731 2,260,842 Share capital 16 20,384 20,384 Share premium 17 107,760 107,760 Fair value reserves 18 11,222 (4,465) Retained earnings 19 104,335 104,036 Net profit / loss for the year 20 300 - TOTAL EQUITY 244,001 227,715 TOTAL LIABILITIES AND EQUITY 2,578,732 2,488,557 The notes form an integral part of the financial statements. Chairman of the Member of the Member of the Member of the Chief Financial Officer Management Board Management Board Management Board Management Board Financial Statements Statement of Comprehensive Income Statement of Income EUR ’000 Item Note 2014 2013 Interest income 21 82,345 90,255 Interest expense 22 (33,719) (41,866) Interest net income 48,626 48,389 Dividend income 23 5 5 Fee and commission income 24 31,726 28,652 Fee and commission expenses 25 (6,991) (5,198) Fee and commission net income 24,735 23,454 Realised gains and losses on financial assets and liabilities not measured at fair value through profit or loss 26 (2,765) (130) Gains and losses on financial assets and liabilities held for trading 27 3,179 (694) Fair value adjustments in hedge accounting 28 (1,159) 2,570 Exchange gains / (losses) 29 (1,301) (523) Gains and losses on derecognition of assets other than held for sale 30 (434) (95) Other operating net income / (loss) 31 (666) (721) Administrative costs 32 (33,979) (34,977) Depreciation 33 (5,113) (5,052) Provisions 34 (1,205) (3,948) Impairments 35 (29,312) (75,647) Profit or loss from non-current assets held for sale 36 2 (24) PROFIT / LOSS BEFORE TAX 613 (47,393) Corporate income tax 37 (14) 8,194 NET PROFIT / LOSS FOR THE FINANCIAL YEAR 599 (39,199) Basic and diluted earning per share (EUR) 20 0.12 (8.02) Statement of Other Comprehensive Income EUR ’000 Item Note 2014 2013 Net profit or loss for the financial year after tax 599 (39,199) Other comprehensive income after tax 18 15,687 14,272 Items that will not be reclassified to profit or loss 171 188 Actuarial gains (losses) on defined benefit pension plans 205 227 Income tax relating to items that will not be reclassified (34) (39) Items that may be reclassified to profit or loss 15,516 14,084 Cash flow hedges (effective portion) 18 4,477 3,200 Valuation gains (losses) taken to equity 4,477 3,200 Available-for-sale financial assets 18 14,217 13,769 Valuation gains (losses) taken to equity 13,583 (5,765) Transferred to profit or loss 634 19,534 Income tax relating to components of other comprehensive income 18 (3,178) (2,885) TOTAL COMPREHENSIVE INCOME FOR THE YEAR AFTER TAX 16,286 (24,927) Chairman of the Member of the Member of the Member of the Chief Financial Officer Management Board Management Board Management Board Management Board Statement of Changes in Equity EUR ’000 Fair value reserves Actuarial gains (losses) Available-on defined for-sale benefit Net profit Item Share capital Share premium Cash flow hedge financial assets pension plans Retained earnings / loss for the year Total Equity OPENING BALANCE FOR THE REPORTING PERIOD 20,384 107,760 (9,006) 4,353 188 104,036 - 227,715 Total comprehensive income for the year, net of income tax - - 3,716 11,800 171 - 599 16,286 Transfer of net profit to retained earnings - - --- 299 (299) - CLOSING BALANCE FOR THE REPORTING PERIOD 20,384 107,760 (5,290) 16,153 359 104,335 300 244,001 BALANCE SHEET AVAILABLE PROFIT FOR FINANCIAL YEAR 300 300 EUR ’000 Fair value reserves Actuarial gains (losses) Available-on defined for-sale benefit Net profit Item Share capital Share premium Cash flow hedge financial assets pension plans Retained earnings / loss for the year Total Equity OPENING BALANCE FOR THE REPORTING PERIOD 20,384 107,760 (11,662) (7,075) - 141,679 537 251,623 Total comprehensive income for the year, net of income tax - - 2,656 11,428 188 - (39,199) (24,927) Transfer of net profit to retained earnings - - --- (38,662) 38,662 - Other (merger UniCredit CAIB Slovenija, d.o.o.) - - --- 1,019 - 1,019 CLOSING BALANCE FOR THE REPORTING PERIOD 20,384 107,760 (9,006) 4,353 188 104,036 - 227,715 BALANCE SHEET AVAILABLE - - PROFIT FOR FINANCIAL YEAR The notes form an integral part of the financial statements. M.Sc. Stefan Vavti Francesco Vercesi, MBA M.Sc. Jana Benčina Henigman Damijan Dolinar, CFA Günter Friedl M.Sc., MBA, MAS Chairman of the Member of the Member of the Member of the Chief Financial Officer Management Board Management Board Management Board Management Board Financial Statements Statement of Cash Flows EUR ’000 Positon 2014 2013 A. CASH FLOWS FROM OPERATING ACTIVITIES a) Total profit or loss before tax 613 (47,393) Depreciation 5,113 5,052 Impairments / (reversal of impairments) of financial assets available-for-sale 783 19,534 Impairments / (reversal of impairments) of loans and receivables 28,529 56,113 Impairments of tangible assets, investment property, intangible fixed assets and other assets 423 38 Net (gains) / losses from exchange differences 1,301 523 Net (gains) / losses from financial assets held to maturity (627) (643) Net (gains) / losses from sale of tangible assets and investment properties (5) (5) Other (gains) / losses from financing activities 5,918 3,073 Other adjustments to total profit or loss before tax (1,386) 1,284 Cash flow from operating activities before changes in operating assets and liabilities 40,662 37,576 b) (Increases) / decreases in operating assets (excl. cash and cash equivalents) (12,737) 243,278 Net (increase) / decrease in financial assets held for trading 441 93 Net (increase) / decrease in financial assets available for sale (89,574) (81,660) Net (increase) / decrease in loans and receivables 80,998 319,533 Net (increase) / decrease in assets-derivatives - hedge accounting (4,943) 7,135 Net (increase) / decrease in other assets 341 (1,823) c) (Increases) / decreases in operating liabilities 67,721 (263,521) Net (increase) / decrease in financial liabilities held for trading (80) (436) Net increase / (decrease) in deposits, loans and receivables measured at amortised cost 58,475 (253,889) Net (increase) / decrease in liability-derivatives - hedge accounting 9,587 (9,685) Net increase / (decrease) in other liabilities (261) 489 d) Cash flow from operating activities (a+b+c) 95,646 17,333 e) Income taxes (paid) refunded 1,001 290 f) Net cash flow from operating activities (d+e) 96,647 17,623 B. CASH FLOWS FROM INVESTING ACTIVITIES a) Receipts from investing activities 539 553 Receipts from the sale of tangible assets and investment properties 19 33 Other receipts from investing activities 520 520 b) Cash payments on investing activities (3,041) (3,769) (Cash payments to acquire tangible assets and investment properties) (502) (612) (Cash payments to acquire intangible assets) (2,539) (3,157) c) Net cash flow from investing activities (a-b) (2,502) (3,216) C. Effects of change in exchange rates on cash and cash equivalents 4,337 (3,431) D. Net increase in cash and cash equivalents (Af+Bc) 94,145 14,407 E. Opening balance of cash and cash equivalents (Note 38) 254,521 243,545 F. Closing balance of cash and cash equivalents (C+D+E) (Note 38) 353,003 254,521 Chairman of the Member of the Member of the Member of the Chief Financial Officer Management Board Management Board Management Board Management Board Summary of Accounting Policies General Information UniCredit Banka Slovenija d.d. is a commercial bank incorporated in Slovenia. It provides a wide variety of financial services to corporate and individual customers. The Bank was registered as a joint-stock company on 24 January 1991. The Bank’s legal address is Šmartinska 140, Ljubljana, Slovenia. On 31 December 2014, the Bank was operating a total of 28 branches throughout Slovenia. The Bank is a subsidiary of UniCredit Bank Austria AG. The ultimate parent company of the Group is UniCredit S.p.A. with registered office in Milan, Piazza Gae Aulenti 3 - Tower A, Italy. Bank’s Financial Statements are part of consolidated Financial Statements of UniCredit group, which can be seen on https://www.unicredit.it/. UniCredit Banka Slovenija d.d. has authorization to perform banking services pursuant to Article 7 of the Banking Act (hereinafter referred to as: the ZBan-1). Banking services include accepting deposits from the public and granting loans for its own account. The Bank has an authorization to perform mutually recognized and additional financial services. The Bank may perform the following mutually recognized financial services, pursuant to Article 10 of the ZBan-1: • Accepting deposits; • Granting loans, including: -Consumer loans, -Mortgage loans, -Factoring (with or without recourse), - Financing of commercial transactions, including forfeiting; • financial leasing: financial leasing of assets of which the duration approximately equals the expected useful life of the asset which is the object of the lease and for which the lessee acquires most of the benefit from the use of the asset and accepts the full risk of the transaction; • Payment services; • Issuing and management of other payment instruments; • Issuing guarantees and other commitments; • Trading for own account or for account of customers in: -Money market instruments, - Foreign exchange, including currency exchange transactions, -Financial futures and options, -Exchange and interest-rate instruments, - Transferable securities; • Participation in the issuance of securities and services related to such issues; • Advice to undertakings on capital structure, business strategy and related issues and advice as well as services related to mergers and the purchase of undertakings; • Portfolio management and advice; • Investment and ancillary investment services and operations. The Bank may perform the following additional financial services, pursuant to Article 11 of the ZBan-1: • Insurance brokerage in accordance with the law governing the insurance business; • Custodian services according to the law governing investment funds and management companies; • Provision of financial leasing and • Intermediation in the sale and buying-in of investment diamonds and in the sale of investment gold. These unconsolidated financial statements were approved for issue by the Management Board on 3 February 2015. Summary of Significant Accounting Policies The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to both years presented. STATEMENT OF COMPLIANCE These financial statements have been prepared in accordance with the International Financial Reporting Standards and interpretations approved by the International Accounting Standards Board (IASB) as adopted by the European Union (hereinafter referred to as: IFRS). BASIS FOR MEASUREMENT These financial statements are prepared in accordance with IFRS, whereby basis for measurement is historical cost, except for measurement of financial assets held for trading, financial assets designated at fair value through profit or loss, available-for-sale financial assets and all derivatives, where basis for measurement is their fair value. USE OF ESTIMATES AND JUDGMENTS The preparation of financial statements requires the Management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected. (a) Determining Fair Values The Bank revalues on a daily basis its derivatives, trading assets as well as the available-for-sale portfolio to the fair value of the instrument. However, the determination of fair value for these financial instruments requires the use of valuation techniques in case there is no observable market price. For financial instruments which trade infrequently and have little price transparency, the fair value is less objective and requires a varying decree of judgment depending on different factors. According to the definition of the fair value, in line with IFRS 7, the Bank classifies financial assets in three levels, which are: • Level 1: Quoted price on open market for identical instrument is used as fair value. • Level 2: Fair value is determined using the valuation models, which Financial Statements Summary of Accounting Policies are based primarily on market data. Level 2 includes also financial assets whose fair value is based on the quoted price for an identical instrument, but for which there is no active market. • Level 3: Fair value is determined using the valuation models, which are based primarily on unobservable inputs. An input qualifies as an observable input if it is directly observable as a market price or may be derived from an observable price. Examples of Level 3 inputs are historical volatility or interest rates for currencies and maturities for which there are no observable financial instruments. If the value of a financial instrument is based on non-observable inputs, the value of these inputs at the end of the reporting period may be selected from a range of reasonable possible alternatives. For the purpose of preparing the financial statements, the reasonable values selected for such nonobservable inputs are in line with prevailing market conditions and the Bank’s valuation verification approach. (b) Impairment Impairment of financial assets measured at amortized cost The Bank has a defined procedure and internal policy for portfolio monitoring and impairments. Internal policy on impairments is in line with the Bank of Slovenia regulations. Impairments of on-balance­sheet assets and off-balance-sheet assets are conducted according to the IFRS standards. The Bank uses two approaches and methodologies for impairments – individual and portfolio approach. Impairment allowances on financial assets relating to legal entities individually significant past due exposures are evaluated individually, while for private individuals segments impairments are assessed on portfolio basis, based upon best estimate of the present value of the expected cash flows. In estimating these cash flows, the Bank assesses counterparty’s financial situation, past repayment discipline and repayment schedules. Monthly assessment represents basis for booking impairments; the procedure is covered by guidelines and is supported by IT solutions. Bank assesses specific impairments using individual approach (on a client or transaction level) by taking into consideration the following: • In estimating these cash flows, the Bank evaluates counterparty’s financial situation, past repayment discipline and repayment pattern; • Eventual breakage of loan contracts or conditions; • Bankruptcy or any other legal proceedings that can result in loss for the Bank; • Information that might have impact on received repayments to the Bank. The impairment of a financial asset is the difference between the carrying amount and the recoverable amount. The recoverable amount is defined as the present value (discounted value) of estimated future cash flows with the application of the original effective interest rate. The effective interest rate is the interest rate that exactly discounts estimated future cash payments or receipts trough the expected lifetime of the financial asset, or when appropriate, a shorter period to the net carrying amount of the financial asset. The projected cash flows from the exercise of collateral (best-quality collateral, adequate collateral and real estate and movable property collateral) are taken into consideration in the calculation of the impairments. UniCredit Banka Slovenija d.d. is using Application and Behavioral scoring for assessing credit rating in private individuals segments, resulting in 26 rating classes with assigned probabilities of default. Bank is assessing specific impairments on portfolio level at least on monthly basis. Based on portfolio quality, parameters relevant for Expected loss calculation on single client level are computed. The Bank uses a collective assessment based on risk classes for customers who are not individually significant, or for customers, who are individually significant, but with no signs for individual impairment. Impairment allowances cover credit losses inherent in portfolios of loans and advances. When assessing the need for collective loss allowances, the Management considers factors such as credit quality, portfolio size and economic factors including analysis of past repayment discipline in those classes. Impairments for “Incurred but not reported” events are calculated on a monthly basis, based on portfolio quality and so-called loss detection period. IBNR (Incurred but not reported) are generic impairments. The need for possible impairment of Held-to-maturity financial assets is assessed if there is objective evidence of impairment, such as significant financial difficulty of the issuer, economic or legal reasons relating to the borrower’s financial difficulty, if it is becoming probable that the borrower will enter bankruptcy and if other data observed indicate that there is a measurable decrease in the estimated future cash flows. Impairment of available-for-sale financial assets If such objective evidence has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows. A loss due to impairment is recognized when a significant or long-term decline in fair value occurs below the purchase value of those financial assets. The same objective evidence indicates the impairment of available-for-sale financial assets. The Bank uses a significant or long lasting decrease of fair value below its purchase value as objective evidence of impairment of available-for-sale equity instruments. Whenever the Bank determines on such basis that financial asset is impaired, the entire valuation loss of that instrument is recognized in the Statement of Income. More details can be found in the Risk report. • Those for which the holder may not recover substantially all of its initial investment, other than because of credit deterioration. Loans and receivables are reported at amortized cost. The Bank recognizes loans and receivables on the settlement date or when it becomes a part of contractual provisions in a financial instrument and derecognizes them on the settlement date or when the contractual rights to the cash flows from the financial asset expire. In the chapter “Use of estimates and judgments” it is defined how the Bank impairs them. Interest income on impaired loans and receivables is impaired in the same percentage as the principle. Loans and receivables include also the item “Other financial assets”: these are receivables for fees outside the scope of calculation of the amortized cost of financial assets, accrued revenue for banking products, receivables for sold financial assets, trade receivables and receivables in the settlement of business relationships. (c) Held-to-maturity Investments Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturities that the Bank has the positive intention and ability to hold to maturity. Held-to-maturity investments are measured at amortized cost. In the chapter Use of estimates and judgments it is defined how the Bank impairs them. (d) Available-for-sale Financial Assets Available-for-sale financial assets are those non-derivative financial assets that are designated as available for sale or are not classified as loans and receivables, held-to-maturity investments or financial assets at fair value through profit or loss. This portfolio includes both equity and debt securities. Subsequent to their initial recognition, available-for-sale financial assets are re-measured at their fair value. As the market value as quoted on the stock exchange regularly doesn’t reflect the fair value of a bond the fair value of the securities is determined with the fair value model which separates the interest rate risk and the credit spread for a particular security. The credit spread gets updated regularly according to the benchmark and frequency agreed for the single name. The Bank assessed fair value of non-quoted equity instruments by using appropriate models. A fair value change on an available-for-sale financial asset is recognized directly in the Statement of Other Comprehensive Income, except for impairment losses and foreign exchange gains and losses, until the financial asset is derecognized, at which time the cumulative gain or loss previously recognized in equity is recognized in Statement of Income. However, interest calculated are accrued daily using the effective interest method and are recognized in Statement of Income. Dividends on an available-for-sale equity instrument are recognized in Statement of Income when the Bank’s right to receive payment is established. In the chapter “Use of estimates and judgments” it is defined how the Bank impairs them. DERIVATIVE FINANCIAL INSTRUMENTS In the normal course of business, the Bank is a party to contracts for derivative financial instruments, which represent a very low initial investment compared to the notional value of the contract. The derivative financial instruments used include interest rate, currency and commodity forward, swap, and option contracts. These financial instruments are used by the Bank to hedge interest rate risk and currency exposures associated with its transactions in financial markets, to open its positions actively and to sell those instruments to the customers. Derivative financial instruments are recognized at their fair value. Fair values are obtained from quoted market prices, discounted cash flow models and options pricing models as appropriate and adjusted for the counterparty credit risk. Changes in the fair value of derivative financial instruments that do not qualify for hedge accounting are recognized in the “Gains and losses on financial assets and liabilities held for trading” as they arise. All derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Fair value of interest and currency derivatives is their market price in the front-end system Murex. Murex is the Group’s “Markets and Treasury” IT platform. HEDGING INSTRUMENTS a) Fair Value Hedge In the year 2014, the Bank had not implemented fair value hedging. b) Cash Flow Hedge In accordance with the IFRS, cash flow hedges serve to hedge uncertain (variable) cash flows in the future. For this purpose, interest cash flows of the hedged items and related derivatives designated as hedging instruments are projected into the future (forecasted transactions). The hedge relates to the exposure to variability in cash flows associated with recognized assets or a recognized liabilities or a planned or forecasted transaction (or portions of the three) which will affect reported net income. In the case of cash flow hedge accounting, the hedging instrument is recognized at its fair value. The hedged items are interest cash flows (forecasted transactions) of underlying transactions. The underlying transactions in a cash flow hedge may be any customer or securities transaction, on the assets side or on the liabilities side of balance sheet, in which the interest rate is sensitive to changes in money market rates. Hedging instruments are any derivatives that can hedge the exposure to variability in the relevant cash flows. The Bank prepares the Statement of Cash Flows using the indirect method. To present cash flows in its operation, the Bank complements the total profit or loss before tax with the effect of the following non-cash positions: depreciation, impairment, gains and losses from exchange differences, gains and losses from financial assets held to maturity, gains and losses from sale of tangible and intangible assets, from financing activities, net unrealized gains in fair value reserves from financial assets available for sale and from hedging of cash flows against risks. In accordance with the Decision on books of account and annual reports of banks and savings banks, the Bank uses the direct method to present cash flows in investing and cash flows in financing, regardless of the fact that it prepares the statement of cash flows using the indirect method. EMPLOYEE BENEFITS The Bank provides its employees with jubilee awards and severance payments. The employees are entitled to claim jubilee awards in circumstances where they have been employed by the Bank for a defined period of time. The employees are entitled to receive severance payments if they are employed by the Bank until their retirement age and were employed by the Bank for a minimum defined period. Benefits are calculated only for full-time employees. Valuations of these obligations are carried out by independent qualified actuaries using projected unit credit method. The actuarial parameter and assumptions included in the calculation of the obligation are: • Discount rate determined by reference to market yields as of the balance sheet date on corporate bonds for the Euro-zone; • Estimated future salary increases; • Mortality rates – Slovenian mortality table 2000-2002; • Fluctuation (termination without payment) depending on the Bank’s past experience in service time; • Retirement age: 65 years notwithstanding the gender; • The Bank’s most recent employee data (the length of employment with the Bank, age, gender, average salary); • Average monthly salary in the Republic of Slovenia. These obligations are measured at present value of future cash outflows. The actuarial gains and losses for severance payments are recognized in the Fair value reserves. The Bank additionally provides short-term benefits to its employees such as contributions to retirement pension insurance and recognizes the costs of these contributions as incurred. SHARE-BASED PAYMENT In accordance with IFRS 2, the Group established a medium/long­term share options and performance shares program, granting equity instruments by UniCredit Italiano S.p.A. The program was established in order to encourage affiliation and motivation of selected managers and employees to achieve strategic goals of the Group. Share-based payment transactions are equity-settled. In compliance with the IFRS, the subsidiaries, whose employees have been granted equity instruments by the parent company, must pay the latter for the allocation granted to their employees. SHAREHOLDERS’ EQUITY Shareholders’ equity is composed of paid-in share capital, share premium, fair value reserves (fair value reserves from financial assets available-for-sale, fair value reserves from cash flow hedge and for actuarial gains and losses on severance payments), reserves from profit, retained earnings and net profit for the year. Only net profit of the year is payable. FINANCIAL COMMITMENTS AND CONTINGENCIES Off-balance-sheet commitments from guarantees, both financial and service, represent irrevocable obligations that the Bank will make payments in the event a customer cannot fulfil its obligations vis-a-vis third parties. They are measured in accordance with IAS 37 until criteria for recognition in the Statement of Financial Position is met. A documentary letter of credit is an irrevocable undertaking of the issuing bank acting at the request of a customer (buyer) to make payment to the beneficiary (seller) or to pay or accept bills of exchange drawn by the beneficiary against stipulated documents, provided all terms and conditions of the letter of credit are complied with. The documentary letters of credit are collateralized depending on the creditworthiness of the customer and on the same basis as guarantees or loans. The primary purpose of unused credit facilities (loan commitments) is to ensure that funds are available to a customer as required. Commitments to grant loans issued by the Bank represent issued loan commitments and the unused part of approved overdraft loans. The risk associated with off-balance-sheet financial commitments and contingent liabilities is assessed similarly as for loans to customers taking into account the financial position and activities of the entity to which the Bank issued the guarantee and taking into account the collateral obtained. INTEREST INCOME AND EXPENSE Interest income and expense are recognized in the Statement of Income using the effective interest method. FEE AND COMMISSION INCOME AND EXPENSE Fees and commissions are in principle recognized upon completion of the underlying transaction. Fees and commissions charged for longer periods are being accrued. LEASES The Bank has its premises under an operating lease. Lease payments are recognised as an expense on a straight-line basis over the lease term. TAXATION Taxes are calculated in accordance with the Corporate Income Tax regulations. Generally, the taxable profit is based on the profit or loss recognized in the Statement of Income prepared pursuant to the IFRS. It is adjusted for tax purposes as follows from the tax regulations. Tax expense (tax income) comprises current tax expense (current tax income) and deferred tax expense (deferred tax income). Financial Statements Summary of Accounting Policies For 2013 and 2014, the corporate income tax rate for current and deferred taxes is 17 %. Deferred taxes are provided for temporary differences arising between the tax bases of assets and liabilities and their carrying amount in Statement of Financial Position. Deferred tax liabilities are the amounts of income taxes payable in future periods in respect of taxable temporary differences. Deferred tax assets are the amounts of income taxes recoverable in future periods in respect of deductible temporary differences, the carry-forward of unused tax losses and the carry-forward of unused tax credits. The Bank is subject to various indirect operating taxes. These are included as a component of administrative expenses. The bank levy is recognized in the item “Other operating net income”. The financial services tax is deducted from income, to which it relates. FIDUCIARY ACTIVITIES AND AGENCY SERVICES Assets managed by the Bank in its capacity as a nominee, trustee or agent are not assets of the Bank and are accordingly not part of the Bank’s financial statements. Fee income, which the Bank earns by providing these services, is recognized as Fee from agency services and commission operations in the Bank’s Statement of Income. REGULATORY REQUIREMENTS The Bank is subject to the Bank of Slovenia’s regulatory requirements. These regulations include limits and other restrictions pertaining to minimum capital adequacy requirements, the classification of loans and off-balance-sheet commitments and provisioning to cover credit risk, liquidity, interest rate, and foreign currency position. Notes on fiduciary activities and agency services are also required by the Bank of Slovenia, not by IFRS. As of 31 December 2014, the Bank was in compliance with all regulatory requirements. RELATED PARTIES Related parties are those counterparties that represent: • Enterprises that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are under common control by, the reporting enterprise; • Key management personnel, that is, those persons having the authority and responsibility for planning, directing and controlling the activities of the Bank; • Close members of the families of such individuals, who include that person’s children and spouse or domestic partner, children of that person’s spouse or domestic partner; and dependants of that person or that person’s spouse or domestic partner; • Enterprises in which a substantial interest in the voting power is owned directly or indirectly by any person described above or over which such a person is able to exercise a significant influence. This includes enterprises owned by directors or major shareholders of the Bank and enterprises that have a member of key management in common with the Bank. In considering each possible related-party relationship, attention is directed to the substance of the relationship and not merely the legal form. Note 5: Loans and receivables Loans and receivables to banks EUR ’000 31/12/2014 31/12/2013 Short-term loans 37,744 9,157 Long-term loans 1,798 3,832 Claims arising from pledged collateral 1,942 256 Total 41,484 13,245 The Bank did not recognize any impairment on Loans and receivables to banks neither on 31 December 2013 nor on 31 December 2014 as there was no evidence for impairment. Loans and receivables to customers EUR ’000 Gross value 31/12/2014 Impairment Net value Gross value 31/12/2013 Impairment Net value Short-term loans 223,439 (69,455) 153,984 227,103 (57,977) 169,126 Corporates 180,422 (55,586) 124,836 183,065 (44,227) 138,838 Financial institutions 8,558 (7,827) 731 9,190 (7,757) 1,433 Public sector 16 (2) 14 252 (1) 251 Private customers 30,662 (4,206) 26,456 30,269 (4,317) 25,952 Sole traders 3,322 (1,473) 1,849 3,840 (1,261) 2,579 Non-profit institutions serving households 459 (361) 98 487 (414) 73 Long-term loans 1,713,365 (123,779) 1,589,586 1,831,263 (104,917) 1,726,346 Corporates 730,651 (90,651) 640,000 820,206 (75,523) 744,683 Financial institutions 3,913 (1,448) 2,465 4,039 (760) 3,279 Public sector 237,469 (211) 237,258 227,905 (271) 227,634 Private customers 722,113 (28,250) 693,863 756,791 (25,255) 731,536 Sole traders 16,599 (3,195) 13,404 19,422 (3,078) 16,344 Non-profit institutions serving households 2,620 (24) 2,596 2,900 (30) 2,870 Total 1,936,804 (193,234) 1,743,570 2,058,366 (162,894) 1,895,472 On 31 December 2014, the balance of loans to employees amounted to 20,888 thousand euros and to 22,383 thousand euros on 31 December 2013. Impairment on loans and receivables to customers EUR ’000 2014 2013 Opening Balance (162,894) (106,751) Increases (65,685) (77,878) Losses on foreign exchange differences (1,921) (3,916) Increases recognized as interest expense (5,595) (3,731) Decreases 37,086 22,648 Gains on foreign exchange differences 1,559 4,181 Decreases recognized as interest income 4,216 2,553 Closing Balance (193,234) (162,894) Note 7: Property, plant and equipment EUR ’000 Leasehold Computer 2014 Other Work in improvements hardware equipment progress Total Cost Opening Balance 12,189 5,838 6,347 151 24,525 Additions 100 - - 404 504 Transfer from work in progress - 371 106 (477) - Disposals (1,141) (73) (146) - (1,360) Closing Balance 11,148 6,136 6,307 78 23,669 Depreciation Opening Balance 7,167 3,941 4,254 - 15,362 Depreciation for the year 890 688 510 - 2,088 Disposals (910) (70) (128) - (1,108) Closing Balance 7,147 4,559 4,636 - 16,342 Net book value Opening Balance 5,022 1,897 2,093 151 9,163 Closing Balance 4,001 1,577 1,671 78 7,327 EUR ’000 Leasehold Computer 2013 Other Work in improvements hardware equipment progress Total Cost Opening Balance 12,218 5,270 6,483 481 24,452 Additions 31 - - 582 613 Transfer from work in progress - 836 76 (912) - Disposals (60) (268) (212) - (540) Closing Balance 12,189 5,838 6,347 151 24,525 Depreciation Opening Balance 6,286 3,573 3,846 - 13,705 Depreciation for the year 908 632 591 - 2,131 Disposals (27) (264) (183) - (474) Closing Balance 7,167 3,941 4,254 - 15,362 Net book value Opening Balance 5,932 1,697 2,637 481 10,747 Closing Balance 5,022 1,897 2,093 151 9,163 The Bank has no contractual commitments for the acquisition of property, plant and equipment on 31 December 2014 (on 31 December 2013: 16 thousand euros). The Bank cannot sell the leasehold improvements and has no other contractual commitments related to them. As the Bank does not have any borrowing costs related to property, plant and equipment, it did not capitalize them. Financial Statements Notes on the Financial Statements Deposits from customers EUR ’000 31/12/2014 31/12/2013 On demand 715,514 585,516 Corporates 386,966 243,820 Financial institutions 51,543 147,536 Public sector 53,710 26,284 Private customers 202,455 157,387 Sole traders 17,555 8,624 Non-profit institutions serving households 3,285 1,865 Short-term deposits 485,186 464,338 Corporates 225,101 236,176 Financial institutions 49,956 49,558 Public sector 24,050 35,139 Private customers 178,585 140,799 Sole traders 3,926 259 Non-profit institutions serving households 3,568 2,407 Long-term deposits 167,811 226,979 Corporates 19,957 16,722 Financial institutions 1,216 10,670 Public sector 8,093 2,770 Private customers 134,915 194,169 Sole traders 98 104 Non-profit institutions serving households 3,532 2,544 Total 1,368,511 1,276,833 Subordinated liabilities EUR ’000 31/12/2014 31/12/2013 Subordinated liabilities to banks 30,110 30,117 Total 30,110 30,117 In 2008, the Bank signed a subordinated loan facility agreement for ten years in the amount of 20,000 thousand euros with loan interest rate EURIBOR + 1.1 %. In 2009, the Bank signed an additional subordinated loan facility agreement for 10,000 thousand euros with loan interest rate EURIBOR + 3 %. Both facility amounts were signed with UniCredit Bank Austria AG, Vienna and are fully drawn. Other financial liabilities EUR ’000 31/12/2014 31/12/2013 Assets for cross-border payment transfers 2,201 2,866 Liabilities for fees 29 209 Liabilities arising from settlement of transactions 2,821 4,731 Liabilities to suppliers 904 1,074 Accrued expenses 4,475 3,761 Other financial liabilities 6,795 3,507 Total 17,225 16,148 Note 40: Fiduciary activities EUR ’000 31/12/2014 31/12/2013 Cash from clients for brokerage with financial instruments 5,213 3,336 Receivables from managing financial instruments 28,540 19,422 Receivables from custody business 8,487,040 5,281,706 Receivables from the Central Securities Clearing Corporation for sold financial instruments 44 1,708 Receivables from settlement systems and institutions for sold financial instruments (buyers) 1,837 829 Receivables from settlement business 2,546 1,709 Receivables from other businesses on behalf and for account of third parties 189,676 82,361 Assets total 8,714,896 5,391,071 Liabilities to customers from money and financial instruments 33,755 22,758 Liabilities to the Central Securities Clearing Corporation for financial instruments bought 2,546 1,465 Liabilities to other settlement systems and institutions for purchased financial instruments (suppliers) 8,486,364 5,282,768 Liabilities to bank for commissions, expenses, etc. 9 10 Liabilities from settlement business 2,546 1,708 Liabilities from other businesses on behalf and for account of third parties 189,676 82,362 Liabilities total 8,714,896 5,391,071 Note 41: Agency services EUR ’000 31/12/2014 31/12/2013 Claims of settlement and transaction accounts for client assets 8,517,461 5,303,665 From financial instruments 8,515,580 5,301,128 To the Central Securities Clearing Corporation or to bank's clearing account for sold financial instruments 44 1,708 To the settlement systems and institutions for sold financial instruments (buyers) 1,837 829 Clients' cash 5,213 3,336 On settlement account for clients' funds 1,693 488 On banks' transaction accounts 3,520 2,848 Assets total 8,522,674 5,307,001 Liabilities of settlement account or transaction accounts for clients' funds 8,522,674 5,307,001 To clients from cash and financial instruments 33,755 22,758 To the Central Securities Clearing Corporation or to Bank's clearing account for purchased financial instruments 2,546 1,465 To other settlement systems and institutions for purchased financial instruments (suppliers) 8,486,364 5,282,768 To the bank or the bank's settlement account for commissions, expenses, etc. 9 10 Liabilities total 8,522,674 5,307,001 Off-balance-sheet items 8,515,580 5,301,128 Clients' financial instruments, itemised by services 8,515,580 5,301,128 Managing financial instruments 28,540 19,422 Custodian services 8,487,040 5,281,706 Financial Statements Notes on the Financial Statements Income and expenses from fees related to investment services and businesses EUR ’000 2014 2013 Income from fees and commission related to investment and subsidiary investment services and businesses for clients 6,376 5,107 Reception, intermediary, and execution of orders 212 302 Management of financial instruments 455 265 Initial public offering and subsequent sales without obligation to buy 621 63 Custodian and related services 5,088 4,477 Expenses from fees and commission related to investment and auxiliary investments services and businesses for clients 1,449 903 Fees related to the Central Securities Clearing Corporation and to similar organizations 1,440 341 Fees related to the stock exchange and similar organizations 9 562 Note 42: Related parties The Bank is a subsidiary of UniCredit Bank Austria AG Vienna, incorporated in Austria, which owns 99.99 % of the Bank's shares. The remaining shares are owned by the Slovenian legal entities and private individuals. The ultimate parent of the Group is UniCredit S.p.A., Italy. The Bank enters into a number of banking transactions with other members of the Group, which includes granted and received loans and deposits, buying and selling foreign currency as well as derivatives. The volumes of related-party transactions and related income and expenses are stated as follows: Statement of Financial Position EUR ’000 31/12/2014 31/12/2013 Loans 353,072 113,351 Management Board 306 318 Key management personnel 266 194 Parent company 336,138 98,328 Other companies within UniCredit 16,293 14,510 Other related parties 69 1 Derivatives 15,464 7,266 Parent company 288 - Other companies within UniCredit 15,176 7,266 Other assets 3 1,038 Parent company 3 888 Other companies within UniCredit - 150 Total assets 368,539 121,655 Financial liabilities measured at amortised cost 549,347 586,270 Management Board 356 225 Key management personnel 25 11 Parent company 535,928 579,705 Other companies within UniCredit 12,713 6,150 Other related parties 325 179 Derivatives 67,371 64,293 Parent company 28 66 Other companies within UniCredit 67,343 64,227 Other liabilities 1,261 1,230 Parent company 294 443 Other companies within UniCredit 967 787 Total liabilities 617,979 651,793 Loans to banks within the Group include demand deposits, time deposits and loans to banks. They are unsecured and carry partially variable and partially fixed interest rates. Statement of Income EUR ’000 2014 2013 Interest income 282 811 Management Board 3 3 Key management personnel 5 4 Parent company 127 87 Other companies within UniCredit 143 717 Other related parties 4 - Interest expense 14,384 16,961 Management Board 5 4 Parent company 6,345 8,075 Other companies within UniCredit 8,029 8,878 Other related parties 5 4 Fee and commission income 968 1,441 Parent company 434 795 Other companies within UniCredit 534 646 Fee and commission expenses 760 473 Parent company 164 152 Other companies within UniCredit 596 321 Gains and losses on financial assets and liabilities held for trading 10,942 13,685 Parent company 565 705 Other companies within UniCredit 10,377 12,980 Fair value adjustments in hedge accounting (1,159) 2,570 Other companies within UniCredit (1,159) 2,570 Other operating income 1,225 1,052 Parent company 980 890 Other companies within UniCredit 245 162 Administrative costs 2,728 2,906 Parent company 11 51 Other companies within UniCredit 2,717 2,855 Remuneration paid EUR ’000 2014 2013 Remuneration paid to the Management Board 569 549 Salaries and other short-term benefits 564 520 Insurance premiums 5 29 Remuneration paid to the Supervisory Board members 66 65 Remuneration paid to other employees with an individual contract 1,059 1,198 Salaries and other short-term benefits 1,059 1,198 Total 1,694 1,812 Number of the Management Board members as of 31 December 4 4 Number of the Supervisory Board members as of 31 December 6 6 Number of other employees with an individual contract as of 31 December 14 14 In 2014, there were on average thirteen employees with an individual contract. In 2014, the Management Board Members received the following amounts: M.Sc. Jana Benčina Henigman: 117 thousand euros of fixed salary, 27 thousand euros of variable salary and 1 thousand euros of other remuneration; Damijan Dolinar, CFA: 116 thousand euros of fixed salary, 28 thousand euros of variable salary and 1 thousand euros of other remuneration; Francesco Vercesi, MBA: 187 thousand euros of fixed salary and 59 thousand euros of variable salary. Financial Statements Notes on the Financial Statements M.Sc. Stefan Vavti, the Chairman of the Management Board, was receiving remuneration for conducting a function in the Bank directly from the parent bank as the parent’s bank seconded employee in accordance with the Group’s rules. In 2014, he didn’t receive any additional payments from the Bank. In 2013 and 2014 there were no payments received in line with share options and performance shares program. The Supervisory Board Members received as follows: Giuseppe Verrascina: 31 thousand euros of compensation paid, Franco Andretta: 24 thousand euros of compensation paid and Francesco Slocovich 11 thousand euros of compensation paid. Note 43: Events after the reporting period After the end of the reporting period, the Bank did not detect any major events that would affect its Financial Statements for 2014 or that would require disclosures in this Financial Statements. Note 44: Legal disputes On 31 December 2014, there were twenty pending litigations towards the Bank amounting together to 11.7 million euros in which the Bank was involved as a defendant (on 31 December 2013: 11.6 million euros). In line with the assessment of their outcome, the Bank formed adequate provisions for litigations (see Note 14). Note 45: Statement of material effect on the financial statement UniCredit Banka Slovenija d.d., as a member of the UniCredit group, enters into several business transactions with related parties from the Group. Such transactions are conducted at normal market conditions and have no negative impact in the presented financial statements. In line with 545 paragraph of the Companies Act, we declare that in the years 2014 and 2013 there were no detrimental transactions or other actions done, which would in any way jeopardize the operations of the Bank. There is a whole world to discover. Better discover it now. At home when you’re abroad. Together, we can go far. UniCredit has more than 8,500 branches and over 147,000 employees in roughly 50 markets across the world. That means we have the tools, the knowledge and the manpower to help your business go international. Our UniCredit International Centers gather our most experienced cross-border experts into a single, powerful network that can provide your business with the information and services it needs to succeed abroad. From evaluating investments, to identifying optimal financial solutions and, of course, providing basic banking services, UniCredit is always with you, anywhere you choose to be. Financial Statements Risk Report Overall Risk Management In line with the UniCredit group perspective, UniCredit Banka Slovenija d.d. identifies, measures, monitors, and/or manages the following categories of risk: • Credit risk; • Market risk; • Liquidity risk; • Operational risk; • Business risk; • Reputational risk; • Strategic risk; • Capital risk; • Real estate risk; • Risks arising from the Bank's shareholdings and equity interests. The Bank manages its risks as well as its capital in a coordinated manner at all relevant levels within its organization. Furthermore, the risk management framework is part of the UniCredit group's CEE risk management practice and of course supports the UniCredit group’s efforts to establish uniform Group-wide risk management and control procedures. All risk management activities of UniCredit Banka Slovenija d.d. are conducted by the Risk Management division, which is independent from the business units and reports directly to the Chief Risk Officer, who is member of the Management Board. There are three types of committees on the high level, which are central to the risk function: the Assets and Liabilities Committee (ALCO), the Credit Committee and the Operational Risk Committee. Asset and liability committee (ALCO) The ALCO, as the overall risk management committee for UniCredit Banka Slovenija d.d., determines the risk management principles in the overall bank risk policy and validates on a regular basis the Bank’s risk map. It approves the establishment of limits for all relevant risks and the risk control procedures. ALCO is responsible for the management of the balance-sheet structural positions, controls liquidity and interest rate risk, is informed about loan portfolio and deals with cross-divisional risk management issues arising between sales units and the overall bank management. The ALCO also deals with all issues relating to overall bank risk and capital management. It has an overview of capital adequacy, development of regulatory capital and ratios, economic capital, capital allocation and available financial resources. Credit committee For the approval of customer credit exposures, the Bank uses a credit committee. The approval authority is defined by the (potential) exposure amount of the client or the group of clients and its/their rating. In line with the legislation, the Supervisory confirms the decisions, when large exposures occur. In credit committees, representatives of the Risk Management and Sales divisions are present as well as the CEO. Credit committee sessions are held usually weekly. Procedures are prescribed and written down in guidelines and working instructions. Lower exposures and exposures toward private individual clients are organized in the Bank via individual approval rights delegated by the Credit Committee of the Bank. Operational Risk Committee (OpRisk Committee) The OpRisk Committee is responsible for effective oversight over operational risk exposure. The OpRisk Committee shall have an overall understanding of the operational risk control framework and of how operational risk affects the company. The OpRisk Committee is also responsible for verifying that the operational risk measurement and control system is closely integrated in the day-to-day risk management process of the Bank. The OpRisk Committee meets at least four times per year. Risk taking The Bank has defined clear pricing basis for customer loans and deposits, in order to enable a clear separation of client business benefit from the internal funds management function of the Bank. Within the Bank, the Asset and Liabilities Management unit has the responsibility to manage market and liquidity risk and it reports directly to the CFO. The ALM unit is accountable for optimizing the Bank’s overall maturity structure and the return on it. Risk appetite The Bank’s strategic targets are assessed through risk appetite framework from different perspectives. Risk appetite framework is defined in terms of different key indicators, which are annually reviewed and if necessary changed and redefined by the Bank and also within the Group. The risk appetite framework process is integrated in the budgeting process. For each indicator, the Bank has defined target value, trigger and limit. The indicators are the following: • From the capital adequacy perspective the limitations and rules are set by the regulator and on the other side by the Group’s risk appetite. The Bank monitors on monthly basis the total capital ratio, Core Tier 1 ratio, Pillar II ratio, leverage ratio and risk taking capacity. • From the credit risk perspective closely observed indicators are probability of default, expected loss in % (expected loss/exposure in default) and coverage ratio. • From the country risk perspective the Bank monitors sovereign exposure. • From the market risk perspective the indicators are defined as value at risk in trading book, trading and bank book warning level and net interest income sensitivity. • From the profitability and risk perspective the Bank aims to manage the volatility of earnings and to maintain sustainable growth. Indicators that are monitored are the following: operating profit in relation to risk weighted assets, operating costs and earnings at risk. • From the liquidity perspective the important indicators for the Bank are the following: short-term liquidity, structural liquidity and liquidity coverage ratio • From the operational risk point of view the Bank monitors operational risk losses. Credit Risk Credit risk arises from all transactions that give rise to actual, contingent or potential claims against any counterparty, borrower or obligor. Credit risk consists of several risk types: • Default risk is the risk that after 90 days the counterparty fails to meet contractual payment obligations or only small possibility of payment exists in accordance with the legislation of the Bank of Slovenia and valid internal rulebooks of the Bank. The outcome is classification of all the claims with particular client as defaulted. • Country risk is the risk that the Bank may suffer a loss in any given country, due to any of the following reasons: a possible deterioration of economic conditions, political and social upheaval, nationalization and expropriation of assets, government repudiation of indebtedness, exchange controls and disruptive currency depreciation or devaluation. • Settlement risk is the risk that the settlement or clearance of transactions will fail. It arises whenever the exchange of cash, securities and/or other assets is not simultaneous. • Concentration risk is the risk that arises from the overexposure toward single client, single industry or single geographic area. • Counterparty credit risk means the risk that the counterparty to a transaction could default before the final settlement of the transaction's cash flows. The scope of application are derivative instruments, repurchase transactions, securities or commodities lending or borrowing transactions, long settlement transactions and margin lending transactions. • Securitization risk toward which the Bank is not exposed. The main objective of managing credit risk is to reach and obtain a high quality and dispersion of the Bank’s credit portfolio. The Bank manages credit risk according to its internal rules. Procedures of managing credit risk are performed on a single transaction level, single client level and on a portfolio level. Measuring credit risk The foundation of credit approval process is a detailed risk assessment of every credit exposure associated with counterparty. The Bank’s risk assessment procedures consider both probability to default of specific counterparty and the risks related to the specific type of credit facility exposure. When measuring credit risk, the Bank calculates probability of default which also forms basis for calculation of credit rating of specific counterparty. For part of the corporate portfolio, the Bank assesses probability of default (PD) in accordance to the Bank of Slovenia’s Regulation for capital requirement for credit risk based on internal rating systems (IRB) for banks and saving institutions. In line with this act the Bank committed to implement the IRB approach for all important exposures. With clear goal of effective and statistically confirmed credit risk measurement the Bank builds and validates all models in accordance with previously mentioned Regulation and the UniCredit group’s guidelines. Probability of default and credit rating as consequence are determined based on financial data, qualitative factors and warning signals. The Bank uses ten major credit rating classes with additional sub-classes. The UniCredit group’s scale includes in total 26 credit rating classes from 1+ to 10, which are calibrated on local specifics. According to collateral guidelines, collaterals are exposed to a regular reviewing process, either on individual or portfolio basis. Such approach gives the Bank a better view of the current status and actual value of collateral. The Bank’s exposure toward non-banks clients according to credit rating and allocated market value collateral EUR ’000 Non-bank customers 31/12/2014 Exposure Collateral 31/12/2013 Exposure Collateral 1 39,860 36,132 44,795 42,304 2 239,037 173,813 221,227 188,004 3 365,732 194,485 383,902 209,342 4 423,915 360,455 515,388 375,994 5 173,875 94,336 189,812 109,408 6 152,470 70,247 156,324 81,293 7 128,329 73,352 118,742 101,288 8 79,578 47,149 72,431 48,203 Doubtful and default 339,640 105,569 352,384 148,602 Not rated 12,085 25,405 15,364 3,754 1,954,521 1,180,944 2,070,371 1,308,191 Please note that the above credit exposure is expressed in terms of gross values not including impaired amounts. Other financial assets and balances with the Central Bank within Statement of Financial Position are classified as Banks or Clients. The Bank’s exposure toward banks clients EUR ’000 Banks 31/12/2014 Exposure Collateral 31/12/2013 Exposure Collateral 1 7,437 0 8,434 0 2 343,515 0 228,637 0 3 21,709 1,708 3,517 2,256 4 7,281 0 55 0 5 1,076 0 5,212 0 6 0 0 54 0 7 0 0 256 255 8 0 0 0 0 Doubtful and default 0 0 0 0 Not rated 139 0 23 0 381,157 1,708 246,187 2,511 Please note that the above credit exposure is expressed in terms of gross values, Other financial assets and balances with the Central Bank within Statement of Financial Position are classified as Banks or Clients. Market value of collateral according to types of collateral EUR ’000 Collateral Types 31/12/2014 31/12/2013 Mortgage 1,726,627 1,954,415 Irrevocable commitments of RS 300,921 308,968 Bank deposits 9,759 146,004 Other Collateral 123,924 136,733 TOTAL 2,161,230 2,546,119 Please note that the above collateral does not include guaranties of private individuals and legal entities. Financial Statements Risk Report Compared to 2013, the value of collateral decreased during 2014 due to the following reasons: • Adjustment of residential real estate collateral to new market values; • Repayment of loans collateralized by commercial real estate; • Reduction in amount of collateral received in form of cash deposits from the mother company. Impairment and provisioning policies In its internal regulations the Bank has defined detailed procedures, methodologies and policies both for monitoring of portfolio quality and for provisioning. Internal policy on impairments is in line with the Bank of Slovenia regulations. Impairments of on-balance-sheet assets and off­balance-sheet assets are conducted according to the standards adopted by the EU (IFRS). The Bank uses two approaches and methodologies for impairment losses – individual and portfolio approach. As explained further below, the Bank also distinguishes between specific and generic impairment losses. Exposures to obligors which are materially past due or for which an event indicating unlikeliness to pay has been identified are classified as impaired and checked for whether an impairment allowance (specific provision) needs to be recognized. Impairment allowances on financial assets representing individually significant past due exposures to legal entities are evaluated individually, based on best estimate of the present value of expected cash flows, while for private individuals segments impairments are assessed on portfolio basis, based on expected loss calculation (EL). In estimating these cash flows, the Bank assesses counterparty’s financial situation, past repayment discipline and repayment schedules. Monthly assessment represents basis for booking impairments; the procedure is covered by guidelines and is supported by IT solutions. The Bank assesses specific impairments using individual approach (on a client or transaction level) by taking into consideration the following: • When estimating these cash flows, the Bank evaluates counterparty’s financial situation, past repayment discipline and repayment pattern; • Eventual breakage of loan contracts or conditions; • Bankruptcy or any other legal proceedings that can result in loss for the Bank; • Information that might have impact on received repayments to the Bank. In cases where there is a low probability of restructuring, future cash flows are calculated using the liquidation scenario. The provisioning requirement is calculated on the basis of the estimated present value of the liquidation proceeds / recovery percentage. In particular, the projected cash flows from the exercise of collateral (best-quality collateral, adequate collateral and real estate and movable property collateral) are taken into consideration. The impairment of a financial asset is the difference between the carrying amount and the recoverable amount. The recoverable amount is defined as the present value (discounted value) of estimated future cash flows with the application of the original effective interest rate. The effective interest rate is the interest rate that exactly discounts estimated future cash payments or receipts trough the expected lifetime of the financial asset, or when appropriate, a shorter period to the net carrying amount of the financial asset. UniCredit Banka Slovenija d.d. uses the Application and Behavioural scoring for assessing credit rating in private individuals segments, resulting in 26 rating classes with assigned probabilities of default. The Bank assesses specific impairments on portfolio level at least on a monthly basis. Based on portfolio quality, parameters relevant for Expected loss calculation on single client level are computed. Exposures to obligors which are not materially past due and for which no event indicating unlikeliness to pay has been identified are classified as performing. For these exposures the Bank recognizes generic provisions (IBNR – Incurred but not reported by performing) – a collective loss assessment based on risk classes. When assessing the need for collective loss allowances, the Bank considers factors such as credit quality, portfolio size and economic factors including analysis of past repayment discipline in those classes. Impairments for “Incurred but not reported” events are calculated on a monthly basis, based on portfolio quality and using standard expected loss calculation procedures at client level including the so-called loss detection period. The Bank regularly monitors the portfolio development and the impairments coverage ratio, which is regularly reported to the senior management and to the Management Board. The Bank also performs monitoring on a single client level, for those clients whose payments are overdue. To identify which department is dealing with a specific client, the Bank has adopted three statuses based on riskiness and related activities, namely: • The “Watch Loan” status means that the client is still performing, but may be endangered according to different warning signals criteria. In such cases, specific action plans are required by the Credit Underwriting unit and set up and executed by the business units. • The »Restructuring« status: In such a case, the Bank attempts to restructure the exposure towards the client with the aim to bring the client Financial Statements Risk Report For internal purposes the impaired loans are divided into the following categories: • Non-performing loans – formally impaired loans, being exposure to insolvent borrowers, even if the insolvency has not been recognized in a court of law, or borrowers in a similar situation. Measurement is on a loan-by-loan or portfolio basis. • Doubtful loans – exposure to borrowers experiencing temporary difficulties, which the Group believes may be overcome within a reasonable period of time. Doubtful loans are valued on a loan-by-loan basis or portfolio basis. • Restructured loans – exposure to borrowers with whom a rescheduling agreement has been concluded, including renegotiated pricing at interest rates below market, the conversion of loans / reduction of principal etc.; measurement is on a loan-by-loan basis or portfolio basis. • Past-due loans – total exposure to any borrower not included in other categories, which at the balance-sheet date has expired facilities or unauthorized overdrafts that are more than 90 days and less than 180 days past due. EUR ’000 Bank of Italy Class 31/12/2014 31/12/2013 Past-due loans 38,888 55,584 Restructured loans 63,572 48,724 Doubtful loans 43,172 54,607 Non-performing loans 194,007 193,469 TOTAL 339,640 352,384 Please note that the above credit exposure is expressed in terms of gross values. Other financial assets and balances with the Central Bank within the Statement of Financial Position are classified as Banks or Clients. Counterparty Risk Credit risk is generally defined as risk of non-performance of counterparts on repaying principal, interest, and/or miscellaneous payments related to obligations out of properties of the transactions. Counterparty credit risk arises when transactions in treasury instruments or securities are concluded with the counterparty. For the purposes of credit risk management, UniCredit Banka Slovenija d.d. has been using an internal counterparty credit risk model. The exposure of any individual counterparty is evaluated by running a path simulation of its portfolio based on the individual products contained therein. The future present value of the whole portfolio is calculated based on market volatility, correlations between specific risk factors, future cash flows and stress considerations. The simulation calculations are performed for all major types of transactions, e. g. forward foreign exchange transactions, currency options, interest rate instruments, equity / bond-related instruments, credit derivatives and commodity derivatives. The Bank applies a confidence interval of 95 %. Counterparty risk exposures for financial derivatives of UniCredit Banka Slovenija d.d. by rating class Rating class Counterparty risk exposure (EUR ’000) 31/12/2014 31/12/2013 1 0 - 2 17,014 11,550 3 4,749 2,605 4 1,635 4,975 5 63 1,085 6 275 7,655 7 1,622 798 8 988 - Non-performing 2,400 11,448 Not rated 0 2,164 TOTAL 28,746 42,279 In 2014, the counterparty credit risk exposure decreased due to maturities by 32 % as compared to the end of 2013. Market Risk UniCredit Banka Slovenija d.d. takes on exposures to market risk, which is the risk that fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risks arise from open positions in interest rate, currency, credit spread, commodity and equity products. All of these are exposed to general and specific market movements and changes in the level of volatility of market rates or prices such as interest rates, credit spreads, foreign exchange rates, commodity and equity prices. The exposure to market risks EUR ’000 Content 31/12/2014 31/12/2013 Assets Cash and cash balances with central banks 350,279 245,530 Financial assets held for trading 16,368 15,394 Available-for-sale financial assets 354,360 251,352 Derivatives - hedge accounting 11,950 7,008 Loans and receivables 1,797,196 1,913,724 Held-to-maturity financial assets 13,160 13,053 Investments in subsidiaries, associates and joint ventures 0 0 TOTAL 2,543,313 2,446,061 Liabilities Deposits from central banks 0 0 Financial liabilities held for trading 17,239 17,188 Derivatives - hedge accounting 53,415 47,356 Financial liabilities measured at amortised cost 2,253,031 2,185,970 Provisions 7,116 6,137 TOTAL 2,330,801 2,256,651 Market Risk Management Techniques Market risk management includes all activities related to the Bank’s treasury operations and management of the balance sheet structure. Risk positions are aggregated at least daily, analyzed by the independent market risk management unit and compared with the risk limits set by the ALCO committee. Cash flow hedge is used by the Bank for managing interest rate risk in accordance with IFRS. At UniCredit Banka Slovenija d.d., market risk management includes ongoing reporting on the risk position, definition of risk limits and limit utilization as well as the daily presentation of results of treasury operations. The ALCO sets the risk limits for the Bank’s market risk activities at least once a year in close cooperation with the respective units at UniCredit Bank Austria AG, Vienna. The entire set of rules for treasury operations and market risk management is laid down in the Financial Markets Rulebook and is divided into three parts (General Part, Specific Part and Unit Parts). To sum up, two sets of limits are defined: • Global Market Risk limits: these are intended to establish a boundary to the economic capital absorption and to the economic loss accepted for activities under trading activities regime. These limits have to be consistent with the assigned budget of revenues and the defined risk taking capacity. Global Market Risk limits are the following: • Loss Warning Level, which is defined as the 60 days rolling period accumulated economic Profit & Loss of a risk taker; • Combined Stress Test Warning Level, which represents a potential loss in value of a portfolio calculated on the basis of a distressed scenario; • Value at Risk (VaR), which represents the potential loss in value of a portfolio over a defined period for a given confidence interval; • Granular Market Risk limits: those exist independently of, but act in concert with the Global Market Risk limits; in order to control more effectively and more specifically different risk types, these limits are generally granular sensitivity or stress-related limits. Sensitivities limits represent the change in the market value of a financial instrument due to moves of the relevant market risk factors. Only authorized risk-takers are permitted to enter into risk positions. Financial Statements Risk Report Limits and warning levels are monitored by the local Market Risk function. Breaches are reported, upon occurrence, to the relevant bodies. Consequently, the escalation process is activated in line with the procedures set in the Policy, to establish the most appropriate course of action to restore exposure within the approved limits. Limit breaches are reported both to the local ALCO. UniCredit Banka Slovenija d.d. uses the standardized approach for calculating capital requirements related to trading positions and thus for regulatory reporting of capital requirement for market risk. However, VaR is used for the internal management of market risk. VaR represents the estimated loss that will arise on a specific portfolio over a specified period of time (holding period) from an adverse market movement with a specified probability (confidence level). More precisely, for its internal market risk management UniCredit Banka Slovenija d.d. uses the IMOD risk model, which was developed by the UniCredit group. Ongoing work on the model consists of regular back testing procedures, integration of new products, model adjustments to general market development, implementation of regulatory requirements (like the one from the Directive 2010/76/EU (CRD III): an incremental risk capital charge (IRC), a comprehensive risk measure (CRM) specific to the correlation trading portfolio (CTP), a stressed value-at-risk (sVaR)). The model used for the internal management of market risk is based on historical simulation with a 500-day market data time window for scenario generation. VaR is based on a one-day holding period and a confidence interval of 99 %. Besides VaR, present value of the basis point (pvbp) and credit spread basis point are calculated. Basis point limits per currency and maturity band, basis point sums per currency and/or per maturity segment (total of absolute basis point values) and credit spread basis point limit are used for risk management. Based on aggregated data, the IMOD risk management system provides the major risk parameters for treasury operations once a day. Other factors of equal importance are stress-oriented volume and position limits. Regular stress scenario calculations complement the information provided on a monthly basis to ALCO. Such stress scenarios are based on assumptions of extreme movements in individual market risk parameters. UniCredit Banka Slovenija d.d. analyses the effect of these fluctuations and a liquidity disruption in specific products and risk factors on the Bank's results and net asset position. These assumptions of extreme movements are dependent on currency and liquidity and are set by the Bank. The results of these stress tests are taken into account also in establishing and reviewing limits. Additional elements of the limit system are loss-warning level limits. Loss warning level is defined as the 60-day rolling period accumulated economic Profit & Loss and provides an early indication of any accumulation of position losses. The Market Risk unit calculates, compares with current budgeted figures and reports the income data from market risk activities (Profit & Loss) on a daily basis. Reporting covers the components reflected in IFRS-based net income and the marking to market of all investment positions regardless of their recognition in the IFRS-based financial statements (total return). In order to check the market conformity of deals, UniCredit Banka Slovenija d.d. uses the MARCONIS system, which was developed by UniCredit group. The MARCONIS system reviews completely and systematically the market conformity of each treasury transaction. In 2014 there were no deals concluded which were finally classified as not market conform. In 2012, the MARCONIS system was extended to include another module, and the tool is also used to address the topic of price transparency (determining minimum margins and maximum hedging costs for Corporate Treasury Sales). Interest Rate, Foreign Exchange, Equity and Spread Risk The results of the internal model based on VaR (one day holding period, 99 % confidence level) for 2013 are at levels comparable to the previous year's results. The VaR figures of the Bank in the table below include interest (IR), foreign exchange (FX), equity (EQ) and spread (Spread) VaR components. VaR of UniCredit Banka Slovenija d.d. in 2014 and 2013 EUR ’000 Banks Minimum Value at Risk 2014 Maximum Average Minimum Value at Risk 2013 Maximum Average IR VaR 12 452 114 77 453 221 Spread VaR 1,801 3,753 2,720 1,678 3,434 2,653 FX VaR 4 58 19 2 57 17 EQ VaR 20 2,239 1,314 1,235 2,673 2,068 Total VaR 2,313 3,904 3,212 2,071 3,660 2,973 For internal monitoring, UniCredit Banka Slovenija d.d. additionally splits VaR into Trading Book VaR and Banking Book VaR. In the year 2014, the average Trading book VaR stood at 32,000 euros and the average Banking book VaR amounted to 3,197,000 euros. Balance sheet positions in different currencies as of 31 December 2014 EUR ’000 Content EUR CHF USD Other Total Cash and cash balances with the Central Bank 287,088 27,515 30,246 5,430 350,279 Financial assets held for trading 16,362 6 0 0 16,368 Available-for-sale financial assets 354,360 0 0 0 354,360 Derivatives – hedge accounting 11,950 0 0 0 11,950 Loans and receivables 1,523,709 271,534 1,952 1 1,797,196 To banks 39,686 0 1,798 0 41,484 To customers 1,478,094 265,348 128 0 1,743,570 Other financial assets 5,929 6,186 26 1 12,142 Held-to-maturity financial assets 13,160 0 0 0 13,160 Property, plant and equipment 7,327 0 0 0 7,327 Intangible assets 18,802 0 0 0 18,802 Tax assets 7,637 0 0 0 7,637 Other assets 1,637 0 16 0 1,653 TOTAL ASSETS 2,242,033 299,055 32,214 5,431 2,578,732 Financial liabilities held for trading 17,233 6 0 0 17,239 Derivatives – hedge accounting 53,345 70 0 0 53,415 Financial liabilities measured at amortised cost 2,081,906 131,792 35,223 4,110 2,253,031 Deposits from banks 425,703 14 147 71 425,935 Deposits from customers 1,323,603 6,642 34,244 4,022 1,368,511 Loans from banks 286,297 124,953 0 0 411,250 Subordinated liabilities 30,110 0 0 0 30,110 Other financial liabilities 16,193 183 832 17 17,225 Provisions 7,116 0 0 0 7,116 Other liabilities 3,927 1 1 1 3,930 TOTAL LIABILITIES 2,163,528 131,869 35,223 4,112 2,334,731 Share capital 20,384 0 0 0 20,384 Share premium 107,760 0 0 0 107,760 Fair value reserves 11,222 0 0 0 11,222 Retained earnings 104,335 0 0 0 104,335 Net profit for the year 300 0 0 0 300 TOTAL EQUITY 244,001 0 0 0 244,001 TOTAL LIABILITIES AND EQUITY 2,407,529 131,869 35,223 4,112 2,578,732 Financial Statements Risk Report Balance sheet positions in different currencies as of 31 December 2013 EUR ’000 Content EUR CHF USD Other Total Cash and cash balances with the Central Bank 179,346 9,867 50,706 5,611 245,530 Financial assets held for trading 15,299 16 78 0 15,394 Available-for-sale financial assets 251,352 0 0 0 251,352 Derivatives – hedge accounting 7,006 2 0 0 7,008 Loans and receivables 1,604,810 305,081 3,833 0 1,913,724 To banks 9,413 0 3,832 0 13,245 To customers 1,592,332 303,140 0 0 1,895,472 Other financial assets 3,066 1,940 1 0 5,007 Held-to-maturity financial assets 13,053 0 0 0 13,053 Property, plant and equipment 9,163 0 0 0 9,163 Intangible assets 19,472 0 0 0 19,472 Tax assets 11,868 0 0 0 11,868 Other assets 1,989 0 4 0 1,993 TOTAL ASSETS 2,113,358 314,966 54,621 5,611 2,488,557 Financial liabilities held for trading 17,125 20 43 0 17,188 Derivatives – hedge accounting 47,214 142 0 0 47,356 Financial liabilities measured at amortised cost 1,903,262 164,541 113,193 4,974 2,185,970 Deposits from banks 294,540 28,528 414 249 323,731 Deposits from customers 1,154,763 5,151 112,335 4,583 1,276,833 Loans from banks 408,542 130,599 0 0 539,141 Subordinated liabilities 30,117 0 0 0 30,117 Other financial liabilities 15,301 263 443 141 16,148 Provisions 6,137 0 0 0 6,137 Other liabilities 4,187 0 3 0 4,191 TOTAL LIABILITIES 1,977,926 164,703 113,238 4,974 2,260,842 Share capital 20,384 0 0 0 20,384 Share premium 107,760 0 0 0 107,760 Fair value reserves (4,466) 1 0 0 (4,465) Retained earnings 104,036 0 0 0 104,036 Net profit for the year 0 0 0 0 - TOTAL EQUITY 227,714 1 0 0 227,715 TOTAL LIABILITIES AND EQUITY 2,205,640 164,704 113,238 4,974 2,488,557 Financial Statements Risk Report Liquidity Risk Liquidity risk is the risk that the Bank is unable to meet on time its payment obligations associated with its financial liabilities when they fall due or to replace funds when they are withdrawn. The consequence may be the failure to meet obligations to repay depositors and fulfil commitments to lend. This type of risk is inherent in the banking operations and can be triggered by institution-specific events like a rating downgrade or market-wide events such as system outage or capital and money market disruptions. UniCredit Banka Slovenija d.d. considers liquidity risk as a central risk in banking business and manages it in a comprehensive and structured manner. Procedures, responsibilities and reporting lines in this area have been laid down in the liquidity policy and include a contingency plan in the event of a liquidity crisis. The Bank mitigates liquidity risks through: • Accurate short-term and medium- to long-term liquidity planning, complemented by regular and robust up to date liquidity stress testing; • Effective Contingency Liquidity Policy with feasible and up-to-date Contingency Action Plan to be executed in case of market crisis; • Substantial liquidity buffer to face unexpected outflows; The two main components of the Bank’s liquidity risk management are short-term liquidity and structural liquidity management. Both include scenario analysis and stress testing aspects in addition to regular position monitoring and management activities. Short-Term Liquidity Under the short-term component of liquidity risk management, the Bank understands aspects of intraday liquidity and day-to-day funding needs of the Bank. The first focuses on ensuring access to sufficient intraday liquidity to meet any obligations the Bank may have to clearing and settlement systems and includes monitoring of major currency payment flows and payment system collateral in real time. The day-to-day funding is managed by active participation in the interbank market in line with the arising funding needs and developments identified in the monthly funding plan. Daily monitoring of short-term liquidity gaps ensures that on any day there is a limited amount of refinancing required. For the purpose of short-term liquidity management, volume limits for maturities of up to three months are in place and monitored on a daily basis. Volume limits are established on an aggregated level as well as for separate major currencies in order to keep down the risk of a need for follow-up funding in the event that foreign currency markets dry up. Structural Liquidity Structural liquidity management is a complement to the interbank market focused short-term liquidity framework and focuses on medium-term as well as long-term liquidity management. It covers an extended time horizon from overnight maturities up to the final maturities of the Bank’s long-term assets and liabilities and takes account of maturity, currency and concentration aspects. Excessive structural mismatches are avoided by currency level monitoring which also confines the Bank’s sensitivity to swap market disruptions. The structural liquidity ratios and its exposure against limits are monitored on weekly basis and monthly discussed on ALCO. Stress Testing To ensure business continuity during periods of severely adverse developments, the Bank runs liquidity stress tests under several different scenarios. The main scenario is defined as combining a general negative development in the market environment (market crisis) and a name-driven crisis specific for UniCredit bank (combined scenario). The defined time frame for the stress test is one month. The result of the combined scenario is also an important metrics when defining the Bank’s risk appetite. The stress testing results are weekly monitored and regularly presented and discussed on ALCO. By securing an appropriate level of funding resources the Bank ensures that its potential refinancing capacities at all times exceed the funding needs projected within defined scenarios. Funding Plan The Funding Plan is prepared on a yearly basis in order to maintain a good balance between assets and liabilities. It is based on the analysis of assets and liabilities and their effects on the short-term and structural liquidity position of the bank. As such, the Funding Plan plays a fundamental role in the overall liquidity management. The timely execution of the Funding Plan is being monitored on a continuous basis as part of the monitoring process of development of asset and liabilities. Financial Statements Risk Report Balance sheet, due to maturity on 31 December 2014 EUR ’000 Up to 1 1 - 3 3 - 12 1 - 5 Over 5 Content Total On demand month months months years years Cash, cash balances with the Central Bank and demand deposits to banks 350,279 350,279 0 0 0 0 0 Financial assets held for trading 16,368 0 1,144 798 2,926 7,482 4,018 Available-for-sale financial assets 393,595 0 126 9,407 11,102 272,929 100,031 Derivatives – hedge accounting 11,950 0 7 32 658 1,695 9,558 Loans and receivables 1,956,050 0 97,375 54,398 405,042 715,418 683,817 - to banks 41,530 0 396 968 38,764 1,402 0 - to customers 1,902,378 0 84,901 53,373 366,271 714,016 683,817 - other financial assets 12,142 0 12,078 57 7 0 0 Held-to-maturity financial assets 14,332 0 0 520 0 13,812 0 Property, plant and equipment 7,327 0 0 0 0 0 7,327 Intangible assets 18,802 0 0 0 0 0 18,802 Tax assets 7,637 0 0 0 0 7,637 0 - current tax assets 0 0 0 0 0 0 0 - deferred tax assets 7,637 0 0 0 0 7,637 0 Other assets 1,653 0 46 1,515 85 3 4 Total assets (1) 2,777,993 350,279 98,698 66,670 419,813 1,018,976 823,557 Financial liabilities held for trading 17,239 0 1,144 766 3,314 7,319 4,696 Derivatives – hedge accounting 53,415 0 0 61 1,757 41,859 9,738 Financial liabilities measured at amortised cost 2,260,282 723,427 568,163 324,212 231,280 315,100 98,100 - deposits from banks and central banks 426,973 7,913 140,252 60,225 40,891 82,692 95,000 - deposits from customers 1,373,879 715,514 348,212 88,266 180,702 38,791 2,394 - loans from banks and central banks 412,045 0 66,686 174,530 6,506 163,617 706 - subordinated liabilities 30,160 0 160 0 0 30,000 0 - other financial liabilities 17,225 0 12,853 1,191 3,181 0 0 Provisions 7,116 0 418 193 1,975 3,077 1,453 Other liabilites 3,930 0 71 122 2,266 863 608 Share capital 20,384 0 0 0 0 0 20,384 Share premium 107,760 0 0 0 0 0 107,760 Fair value reserves 11,222 0 0 0 0 0 11,222 Retained earnings 104,335 0 0 0 0 0 104,335 Net profit / loss for the year 300 0 0 0 0 0 300 Total liabilities and equity (2) 2,585,983 723,427 569,796 325,354 240,592 368,218 358,596 Inconsistency (1)-(2) 192,010 (373,148) (471,098) (258,684) 179,221 650,758 464,961 Note: Non-discounted items of the Bank's Statement of financial position are displayed in the table. Balance sheet, due to maturity on 31 December 2013 EUR ’000 Up to 1 - 3 3 - 12 1 - 5 Over 5 Content Total On demand 1 month months months years years Cash, cash balances with the Central Bank and demand deposits to banks 245,532 205,530 40,002 0 0 0 0 Financial assets held for trading 15,398 0 741 552 1,910 11,194 1,001 Available-for-sale financial assets 281,320 0 438 7,298 15,121 194,561 63,902 Derivatives – hedge accounting 7,008 0 136 2 542 1,844 4,484 Loans and receivables 2,086,445 0 131,466 71,989 313,218 800,347 769,425 - to banks 13,266 0 6,249 547 4,898 1,572 0 - to customers 2,068,172 0 120,331 71,329 308,312 798,775 769,425 - other financial assets 5,007 0 4,886 113 8 0 0 Held-to-maturity financial assets 14,746 0 0 520 0 14,226 0 Property, plant and equipment 9,163 0 0 0 0 0 9,163 Intangible assets 19,472 0 0 0 0 0 19,472 Tax assets 11,868 0 0 0 1,004 10,864 0 - current tax assets 1,004 0 0 0 1,004 0 0 - deferred tax assets 10,864 0 0 0 0 10,864 0 Other assets 1,993 0 888 1,049 47 0 9 Total assets (1) 2,692,945 205,530 173,671 81,410 331,842 1,033,036 867,456 Financial liabilities held for trading 17,188 0 660 532 2,700 12,411 885 Derivatives – hedge accounting 47,356 0 16 34 143 33,508 13,655 Financial liabilities measured at amortised cost 2,200,005 593,308 360,563 170,437 235,766 665,699 174,232 - deposits from banks and central banks 325,223 7,792 500 57,223 29,817 74,891 155,000 - deposits from customers 1,287,831 585,516 346,872 112,564 194,396 46,974 1,509 - loans from banks and central banks 540,630 0 27 344 8,702 523,834 7,723 - subordinated liabilities 30,173 0 173 0 0 20,000 10,000 - other financial liabilities 16,148 0 12,991 306 2,851 0 0 Provisions 6,137 0 1,312 391 1,001 2,024 1,409 Other liabilites 4,191 0 1,776 21 289 1,810 295 Share capital 20,384 0 0 0 0 0 20,384 Share premium 107,760 0 0 0 0 0 107,760 Fair value reserves (4,465) 0 0 0 0 0 (4,465) Retained earnings 104,036 0 0 0 0 0 104,036 Net profit / loss for the year 0 0 0 0 0 0 0 Total liabilities and equity (2) 2,502,592 593,308 364,327 171,415 239,899 715,452 418,191 Inconsistency (1)-(2) 190,353 (387,778) (190,656) (90,005) 91,943 317,584 449,265 Note: Non-discounted items of the Bank's Statement of financial position are displayed in the table. Operational Risk Governance System The Management Board of UniCredit Banka Slovenija d.d. has the ultimate responsibility for the effective control over the operational risk exposure. The Management Board in coordination with the senior management is also responsible for verifying that the operational risk measurement and control system is closely integrated in the day-to-day risk management process. At UniCredit Banka Slovenija d.d., the entity responsible for taking decisions on operational risk topics is the Operational Risk Committee (OpRisk Committee). Within the Committee, the risk exposure, the mitigation actions, the measuring and control methodologies and all analyses done on operational risk are reported and discussed. The Committee is responsible for proposing interventions according to risks/scenarios reported results, recommending insurance policies where applicable. Based on operational risk reporting, operational risk control procedures and limits are proposed and monitored by the members of the OpRisk Committee. At the UniCredit group level, the Group’s Operational & Reputational Risk Committee is held in Vienna on a quarterly basis, where all CEE legal entities take part. The Group Operational & Reputational Risks Committee meets with consulting functions for the following topics: risk appetite; structure and definition of limits; modifications of risk control and measurement systems; overall strategies for operational risk optimization; action plans to address possible critical findings related to risk control and measurement systems resulting from Group Internal Validation and Internal Audit activities, with regard to the internal control system and risk measurement; ICAAP topics on operational risks. The Group Operational & Reputational Risks Committee meets with approval function for the following topics: special operational and reputational risk policies; corrective actions for balancing Group operational risk positions; Group insurance strategies; methodologies for the measurement and control of operational risk; single transactions evaluated, when - on an exceptional basis, i.e. in case of reputational risk policies’ grey areas - submitted by the relevant competent Committee. The Management Board is regularly updated on operational risk issues, notified on operational risk cases, operational risk changes as well as relevant breaches of policies. The Operational Risk unit is independently organized and incorporated within the Risk Management division, working in close cooperation with the operational risk managers from business divisions and staff functions. The Operational Risk team ensures regular control of operational risk and is responsible for the identification, assessment, monitoring and mitigation/control of operational risk. The Team is also involved in the new product implementation process. Operational risk managers are responsible for taking measures to reduce, prevent, or take out insurance against risks. The regular Manager’s Day workshop is organized by the Operational Risk unit in order to discuss important topics with the operational risk managers and maintain the level of knowledge and awareness related to the management of operational risk. Operational Risk Measurement System The operational risk governance system of UniCredit Banka Slovenija d.d. enables timely identification, management and mitigation of risk exposure, defining a system of responsibilities and controls of the involved structures. UniCredit Banka Slovenija d.d. has been using the Advanced Measurement Approach (AMA) for measuring and calculating capital requirement for operational risk since September 2009. An enhanced version of the risk capital model for operational risk has been developed at the Group level and implemented also in our Bank. It uses a combination of internal and external loss data to support statistical modelling of capital requirement estimates, which are then adjusted to reflect qualitative data regarding the operational risk and control environment. The Bank’s operational risk framework is supported by the Application for Risk Gauging Online (ARGO), a Group internally designed operational risk software tool. ARGO integrates the individual components of the operational risk management framework into a unified, web-based tool. ARGO enhances the capture, reporting and analysis of operational risk data by enabling risk identification, measurement, monitoring, reporting and analysis to be done in an integrated manner, thereby enabling efficiencies in the Bank’s monitoring and management of its operational risk. A network of independent functions and teams is involved in managing and controlling risks, providing the Management Board with sufficient information on the risk situation and enabling the Management Board to manage risk. As a new body in 2012, the Permanent Workgroup concept (PWG) was set up within the Operational Risk Committee, which provides timely monitoring of risk mitigation actions and escalating any criticalities to the appropriate level of management. The purpose of quarterly reports prepared by the Permanent Workgroup is to enable management to maintain operational risk at appropriate levels within each line of business, to escalate issues and to monitor regularly mitigation actions. The main four elements of Operational Management and Measurement System are: internal and external loss data collection and analysis, scenario analysis and business environment and internal control factors (KRIs). Financial Statements Risk Report Internal Loss Data Collection The Internal loss data has been collected since 2002 and has helped to: • Spread the awareness of operational risk throughout the Bank; • Build experience in the operational risk concept and tools; • Achieve a deeper understanding of the embedded risk in the business process. The Internal Loss Data are collected and processed in close coordination and cooperation with other departments and units. The minimum threshold at which an event is recorded is 100 euros of actual loss or 10,000 euros of potential loss. Any losses below these thresholds are not collected. The operational risk events are allocated in line with operational risk standards to the following seven categories: • Internal fraud; • External fraud; • Employment practices and workplace safety; • Clients, products and business practices; • Damage to physical assets; • Business disruption and system failures; • Execution, delivery and process management. Operational risk losses get regularly reconciled with the Bank’s Profit and Loss Statement in order to ensure completeness of the collected operational risk losses. Share of net operational risk loss by event type categories 2014 2013 400,000 200,000 0 (200,000) (400,000) (600,000) (800,000) (1.000,000) (1.200,000) (1.400,000) Internal fraud External fraud Employment Clients, products and Damage to Business distruption Execution, delivery practices and business practices physical assets and system failures and process workplace safety management 00 (411,032) 193,645 00 (104,820)(179,722)(250)(6,890)(1,399)(5,524)(209,678) (1,211,016) The Bank has to consider the fact that it always takes numerous measures to manage and reduce operational risk. Implementation of mitigation measures is constantly monitored and new measures are proposed. Key Risk Indicators (KRI) Risk indicators are numerical variables whose trend is linked to the processes’ operational risk exposure. Risk indicators are ratios or data reflecting the operational risk profile: the value of an indicator should be correlated to changes in risk levels. Monitoring operational risk using indicators will give the Operational Risk Team, process owners and persons directly in charge of the risk management early warning signals. The selection process of indicators involves the Operational Risk Management function and process owners and is based on internal loss data, external data, scenario analysis, experts’ suggestion of processes and internal audit, business environment and internal control factors. Scenario Analysis The goal of scenario analysis is to assess the Bank’s operational risk exposure to high impact and low probability events. The scenarios are defined by analyzing internal losses, external events deemed relevant, key operational risk indicators' trend, processes, products and event types. The experience of process managers and operational risk managers as well as suggestions from internal audit and the senior management is taken into consideration. Results, in terms of worst case scenarios, critical processes, mitigation proposals or impacts on capital at risk are described in specific scenario reports. Internal Validation The Bank uses internal validation process and supporting architecture as a dynamic risk management tool. The main objective of the internal validation is to assess the overall soundness and the effectiveness of the Operational Risk Management System as well as the compliance to the Group standards and the Supervisory requirements for using the AMA. The goal of the internal validation process is to identify the key operational risks specific to our environment and assess the degree to which it maintains appropriate controls. Action plans are developed for control issues identified, and business units are held accountable for tracking and resolving these issues on a timely basis. Legal and Compliance Risks Banks are highly regulated financial institutions and constantly supervised by competent authorities as they cause as well as bear systemic risk. The Bank, in its course of business, is exposed to the legal risk and the compliance risk. The legal risk encompasses risks of loss of earnings arising from violations or non-compliance with laws, by-laws, rules, regulations, agreements, prescribed practices, or ethical standards. On the other hand, the compliance risk is the risk of financial loss, risk of loss of reputation or the occurrence of certain regulatory measures or sanctions caused by the bank’s actions that are non-compliant with legislation, other external or internal by-laws and relevant business standards and good-practices. The Bank is exposed also to the compliance risks, such as the risks of the legal sanctions, measures of supervisory authorities, monetary losses or reputational risks, which the Bank shall bear as a consequence of unintentional or intentional (non)compliance with laws, external or internal regulations, standards, codes, etc. Our objective is to identify, manage, monitor and mitigate legal and compliance risks that expose the Bank. We seek to actively mitigate these risks by identifying them, setting adequate standards and procedures for their management as well as ensuring compliance through proactive monitoring. The legal and compliance risk policy is implemented through identification and ongoing review of areas where the legal risk is identified or such risk is present through allocation of responsibility for the development of procedures for management and mitigation of these risks and through establishing of procedures for compliance monitoring, taking into account the required standards. Legal and compliance risks cannot be entirely eliminated or avoided and they are hardly predictable. In fact, the Bank is involved in few legal cases/proceedings that are not related to the position of the bank in the loan and collateral recovery towards its clients. The Bank has fully established the compliance function which, in addition to the regular assessment of compliance risk, manages also the system of second level management controls, by virtue of which the bank actively manages the compliance risk. Moreover, the Bank has also implemented the system of control for conflict of interests, whistleblowing and anti-corruption measures. Business Risk Business risk is defined as adverse, unexpected change in business volume and / or margins that cannot be attributed to other risk types, resulting in fluctuations of revenues and costs, not considering extraordinary items. The changes in business volume result from unexpected development of market trend, unexpected customer behavior, new market participants / products or legal framework. The calculation of business risk is based on an earnings-at-risk model using historical time series of revenues and costs. Business risk measurement thus measures the influence of external factors on decline in profits and effect on market value. Financial Statements Risk Report As part of the general income and cost management, the operational management of business risk is the responsibility of individual business units. Risk Arising from the Bank’s Shareholdings and Equity Interests UniCredit Banka Slovenija d.d. is not actively making long-term investments in shares on its own account for the purpose of realizing short-term trading or long-term substantial value increases. The shareholdings of the Bank are either closely related to the Bank’s business (SWIFT, Bankart, etc.) or the result of restructuring attempts (out of loans and reverse repo transaction). The Bank sold the shares of Mercator d.d. in September 2014 (as the Bank’s largest capital investment). Real Estate Risk UniCredit Banka Slovenija d.d. has no exposure to real estate financing and does not invest in real estate itself. Capital Management Within the Internal Capital Adequacy Assessment Process (ICAAP), UniCredit Banka Slovenija d.d. focuses on the economic view of matching the economic capital (capital demand) with the risk-taking capacity (shareholder’s equity) in line with the Pillar II of the Basel accord. The economic capital is calculated retrospectively on a quarterly basis but it is also monitored within the yearly planning process. As both capital requirement and available capital evolve over time, the Bank ensures that on the one side capital requirement - mainly driven by business plans and by risk-profile forecasts in combination with macro-economic scenarios - does not exceed available capital and on the other side the available capital - mainly influenced by planned capital transactions and expected profits - is kept at a level to cover the calculated risks at all times. Economic capital is intended to reflect the Bank's specific risk profile in a comprehensive and consistent way. With the exception of liquidity risk, economic capital is calculated using uniform value-at-risk methods across all types of risk which were mentioned in this risk report. A specific factor taken into account in the required risk capital is business risk, which reflects the influence of external factors such as consumer behavior or competitive situation on the market value of business divisions or subsidiaries. Unexpected losses over a period of one year are calculated with a confidence level of 99.83 %. The overall responsibility for identification of risks and assessment of risk level is with the ALCO. Besides the economic view, the Bank has to comply with the Regulation No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms (CRR directive) and with the Slovenian legislation. The regulatory capital for credit risk, market risk and operational risk accounts for the capital demand. Capital adequacy is monitored continuously by the Bank’s Management and filed with the Bank of Slovenia on a quarterly basis. The Bank of Slovenia requires each bank to maintain a ratio of total regulatory capital to the risk weighted asset (the capital adequacy ratio) at or above the internationally agreed minimum of 8 %. The structure of the regulatory capital, capital requirements and capital adequacy ratio for 2014 and 2013 is presented in the two tables below. The reason for having two tables (for each year separately) is the CRR directive which entered into force on 1 January 2014. The data for 2013 and 2014 presented bellow are not completely comparable. The total capital ratio increased from 16.92 % at the end of 2013 to 19.66 % at the end of 2014. Tier 1 ratio increased from 15.55 % at the end of 2013 to 17.54 % at the end of 2014. During the observed period, the Bank was constantly in line with the regulatory capital requirements and at the same time even increased the security of its business. Own funds and capital requirement as of 31 December 2014 EUR ’000 ID Label Amount 1 OWN FUNDS 237,625 1.1 TIER 1 CAPITAL 211,971 1.1.1 COMMON EQUITY TIER 1 CAPITAL 211,971 1.1.1.1 Capital instruments eligible as CET1 Capital 128,143 1.1.1.1.1 Paid up capital instruments 20,384 1.1.1.1.3 Share premium 107,760 1.1.1.2 Retained earnings 104,036 1.1.1.2.1 Previous years retained earnings 104,036 1.1.1.2.2 Profit or loss eligible 0 1.1.1.2.2.1 Profit or loss attributable to owners of the parent 599 1.1.1.2.2.2 (-) Part of interim or year-end profit not eligible (599) 1.1.1.3 Accumulated other comprehensive income 11,222 1.1.1.11 (-) Other intangible assets (18,802) 1.1.1.12 (-) Deferred tax assets that rely on future profitability and do not arise from temporary differences net of associated tax liabilities (2,777) 1.1.1.13 (-) IRB shortfall of credit risk adjustments to expected losses (71) 1.1.1.16 (-) Excess of deduction from AT1 items over AT1 Capital (15,070) 1.1.1.26 Other transitional adjustments to CET1 Capital 5,290 1.1.2.9 Other transitional adjustments to AT1 Capital (15,070) 1.2 TIER 2 CAPITAL 25,654 1.2.1 Capital instruments and subordinated loans eligible as T2 Capital 22,481 1.2.1.1 Paid up capital instruments and subordinated loans 22,481 1.2.1.1* Memorandum item: Capital instruments and subordinated loans not eligible 7,519 1.2.5 IRB Excess of provisions over expected losses eligible 3,202 1.2.10 Other transitional adjustments to T2 Capital (28) 2 TOTAL RISK EXPOSURE AMOUNT 1,208,752 2.1 RISK WEIGHTED EXPOSURE AMOUNTS FOR CREDIT, COUNTERPARTY CREDIT AND DILUTION RISKS AND FREE DELIVERIES 1,092,571 2.1.1 Standardised approach (SA) 558,894 2.1.1.1 SA exposure classes excluding securitisation positions 558,894 2.1.1.1.02 Regional governments or local authorities 25,924 2.1.1.1.03 Public sector entities 11,329 2.1.1.1.06 Institutions 91 2.1.1.1.07 Corporates 42,651 2.1.1.1.08 Retail 274,013 2.1.1.1.09 Secured by mortgages on immovable property 132,970 2.1.1.1.10 Exposures in default 49,421 2.1.1.1.15 Equity 110 2.1.1.1.16 Other items 22,385 2.1.2 Internal ratings based Approach (IRB) 533,677 2.1.2.1 IRB approaches when neither own estimates of LGD nor Conversion Factors are used 533,605 2.1.2.1.02 Institutions 75,510 2.1.2.1.03 Corporates - SME 145,087 2.1.2.1.05 Corporates - Other 313,008 2.1.2.3 Equity IRB 71 Financial Statements Risk Report 2.2 TOTAL RISK EXPOSURE AMOUNT FOR SETTLEMENT/DELIVERY 0 2.3 TOTAL RISK EXPOSURE AMOUNT FOR POSITION, FOREIGN EXCHANGE AND COMMODITIES RISKS 400 2.3.1 Risk exposure amount for position, foreign exchange and commodities risks under standardised approaches (SA) 400 2.3.1.1 Traded debt instruments 400 2.4 TOTAL RISK EXPOSURE AMOUNT FOR OPERATIONAL RISK (OpR ) 115,703 2.4.3 OpR Advanced measurement approaches (AMA) 115,703 2.6 TOTAL RISK EXPOSURE AMOUNT FOR CREDIT VALUATION ADJUSTMENT 79 2.7 TOTAL RISK EXPOSURE AMOUNT RELATED TO LARGE EXPOSURES IN THE TRADING BOOK 0 2.8 OTHER RISK EXPOSURE AMOUNTS 0 3 Surplus(+)/Deficit(-) of total capital 140,925 3a Total capital ratio 19.66 % 3b T1 Capital ratio 17.54 % Own funds and capital requirement as of 31 December 2013 EUR ’000ID Label Amount 1 TOTAL OWN FUNDS FOR SOLVENCY PURPOSES 222,884 1.1 ORIGINAL OWN FUNDS 212,708 1.1.1.1 Paid up capital 20,384 1.1.1.3 Share premium 107,760 1.1.2.1 Reserves 104,036 1.1.2.6 Valuation differences eligible as original own funds 0 1.1.5 (-) Other deductions from Original Own Funds (19,472) 1.1.5.1 (-) Intangible assets (19,472) 1.1.5.4 (-) Other country specific deductions to Original Own Funds 0 1.2 ADDITIONAL OWN FUNDS 26,000 1.2.2.3 Subordinated loan capital 26,000 1.3 (-) DEDUCTIONS FROM ORIGINAL AND ADDITIONAL OWN FUNDS (15,824) 1.3.8 (-) IRB Provision shortfall (15,824) 1.4 TOTAL ORIGINAL OWN FUNDS FOR GENERAL SOLVENCY PURPOSES 204,796 1.5 TOTAL ADDITIONAL OWN FUNDS FOR GENERAL SOLVENCY PURPOSES 18,088 2 CAPITAL REQUIREMENTS 105,361 2.1 TOTAL CAPITAL REQUIREMENTS FOR CREDIT, COUNTERPARTY CREDIT, DILUTION AND DELIVERY RISKS 93,919 2.1.1 Standardised approach (SA) 51,830 2.1.1.1a SA exposure classes excluding securitization positions 0 2.1.1.1b IRB exposure classes excluding securitization positions 51,830 2.1.1.1b.01 Central governments and central banks 505 2.1.1.1b.02 Institutions 3,378 2.1.1.1b.03 Corporates 6,134 2.1.1.1b.04 Retail 39,942 2.1.1.1b.06 Other non-credit obligation assets 1,871 2.1.2 Internal ratings based Approach (IRB) 42,089 2.1.2.1 IRB approaches when neither own estimates of LGD nor Conversion Factors are used 42,064 2.1.2.1.02 Institutions 3,022 2.1.2.1.03 Corporates 39,042 2.1.2.3 Equity IRB 25 2.2 SETTLEMENT RISK 0 2.3 TOTAL CAPITAL REQUIREMENTS FOR POSITION, FOREIGN EXCHANGE AND COMMODITY RISKS 41 2.4 TOTAL CAPITAL REQUIREMENTS FOR OPERATIONAL RISKS (OpR ) 11,401 2.4.3 OpR Advanced measurement approaches 11,401 2.6 OTHER AND TRANSITIONAL CAPITAL REQUIREMENTS 0 3.2 Surplus (+) / Deficit (-) of own funds 117,523 3.2.a Solvency ratio (%) 16.92 % Tier 1 ratio 15.55 % Chairman of the Member of the Member of the Member of the Chief Financial Officer Management Board Management Board Management Board Management Board Izdajatelj / Publisher: UniCredit Banka Slovenija d.d. Šmartinska 140 SI - 1000 Ljubljana Slovenija www.unicreditgroup.eu