Poslušanje, razumevanje, odzivanje. Zgodbe, ki jih piše vsakdan o naših odnosih s strankami, o produktnih inovacijah in prilagodljivosti naših storitev, vpletene v letno poročilo, pričajo o pristopu skupine UniCredit k bančništvu. Te kratke, vendar zgovorne zgodbe, ki prihajajo neposredno od naših sodelavcev, so primeri oprijemljivih koristi in konkretnih rešitev, ki jih skupina UniCredit ponuja in prikazujejo, kako ustvarjamo dodano vrednost v življenju ljudi. Naš jasen cilj – izboljšati kakovost življenja – je zasidran v naši popolni predanosti rezultatom, ki so mogoči le ob hkratnem zadovoljstvu strank. V skupini UniCredit strankam prisluhnemo in se jim popolnoma posvetimo, da bi jim lahko ponudili preproste in učinkovite bančne rešitve. Na ta način prispevamo k finančni in socialni blaginji naših strank in lokalnih skupnosti, v katerih Skupina deluje. Enake korake bomo ubirali tudi v prihodnje. 2013 Letno poročilo Predstavitev Banke Finančni kazalniki 2013 2012 2011 Izkaz finančnega položaja (v 1.000 EUR) Bilančna vsota 2.488.557 2.815.367 2.945.636 Vloge nebančnega sektorja 1.276.833 1.227.789 957.016 Vloge pravnih in drugih oseb, ki opravljajo dejavnost 784.478 784.264 601.181 Vloge prebivalstva 492.355 443.525 355.835 Krediti nebančnemu sektorju, merjeni po odplačni vrednosti 1.895.472 2.269.317 2.356.239 Krediti pravnim in drugim osebam, ki opravljajo dejavnost 1.137.984 1.495.493 1.539.200 Krediti prebivalstvu 757.488 773.824 817.039 Kapital 227.715 251.623 240.888 Oslabitve finančnih sredstev 170.431 113.405 85.479 Rezervacije 6.137 2.443 1.553 Obseg zunajbilančnega poslovanja 3.685.267 3.844.597 4.574.606 Izkaz poslovnega izida (v 1.000 EUR) Čisti obrestni prihodki 48.389 55.970 59.916 Čisti neobrestni prihodki 23.842 21.306 22.998 Stroški dela (22.640) (23.928) (22.756) Drugi administrativni stroški (12.337) (12.908) (13.591) Amortizacija (5.052) (4.586) (5.239) Oslabitve in rezervacije (79.595) (35.544) (23.327) Poslovni izid pred obdavčitvijo (47.393) 310 18.001 Davek od dohodka pravnih oseb 8.194 763 (3.260) Izkaz drugega vseobsegajočega donosa (v 1.000 EUR) Drugi vseobsegajoči donos pred obdavčitvijo 17.196 12.924 (26.128) Davek iz dohodka pravnih oseb od drugega vseobsegajočega donosa (2.924) (3.262) 5.226 Zaposleni Število zaposlenih na dan 31. december 576 601 609 Delnice Število delničarjev 26 27 26 Nominalna vrednost delnic (v EUR) 4,17 4,17 4,17 Knjigovodska vrednost delnic (v EUR) 46,58 51,48 49,28 Število delnic 4.888.193 4.888.193 4.888.193 Kapital Količnik kapitalske ustreznosti 16,9 % 13,5 % 11,0 % Kvaliteta sredstev in prevzetih obveznosti Oslabitve finančnih sredstev, merjenih po odplačni vrednosti in rezervacije za prevzete obveznosti / razvrščene aktivne bilančne in razvrščene zunajbilančne postavke 5,9 % 3,6 % 2,7 % Profitabilnost Obrestna marža 1,8 % 1,9 % 2,0 % Marža finančnega posredništva 2,6 % 2,6 % 2,8 % Donos na aktivo pred davki (ROA) (1,7 %) 0,0 % 0,6 % Donos na kapital pred davki (ROE) (19,3 %) 0,1 % 7,9 % Donos na kapital po davkih (15,9 %) 0,4 % 6,4 % Stroški poslovanja Operativni stroški / povprečna aktiva 1,5 % 1,4 % 1,4 % Likvidnost Likvidna sredstva / kratkoročne finančne obveznosti do nebančnega sektorja, merjene po odplačni vrednosti 34,7 % 29,9 % 37,2 % Likvidna sredstva / povprečna aktiva 14,5 % 9,1 % 8,6 % Predstavitev Banke Organizacijska shema NADZORNI SVET Legenda Rešitve Kadarkoli, kjerkoli. “Pri povratku s počitnic je imela ena od mojih strank težave z avtom, zato je morala poklicati pomoč na cesti. Problem je bil resen, dnevni limit na plačilni kartici pa naši stranki in njenemu možu ni omogočal plačila popravila. Poklicala me je na robu obupa, zato sem želela rešiti nastalo situacijo v čim krajšem času. Kmalu sta lahko poravnala račun ter mirno nadaljevala pot. Ko sta se vrnila domov, me je stranka poklicala, se mi zahvalila in me obvestila, da bo na podlagi res pozitivne izkušnje tudi njen mož postal stranka Unicredit.” Silvia Rieder – bančna svetovalka Poslovalnica Pressbaum 2099 - UniCredit Bank – AVSTRIJA Podpora Fleksibilnost pri zadovoljevanju potreb strank. “Kot rezultat debate med različnimi oddelki divizije Upravljanje s tveganji smo ugotovili, da je pomembno krojiti komunikacijo glede na potrebe posamezne stranke. Delali smo skupaj, kot ekipa, in delili raziskave in znanje. To je na koncu pripeljalo do bolj fleksibilnih poročil, mi smo postali bolj odzivni in proaktivni, izboljšali pa smo tudi veščine in stike vseh internih oddelkov.” Francesco Ivan Pomarico Skupina Finančno tveganje – UniCredit Holding – Sodelovanje Večja učinkovitost, boljši rezultati. Dolgoletna stranka UniCredit banke je bila od leta 2008 v lasti ameriškega zasebnega naložbenega sklada. Podjetje je dosledno beležilo dobre rezultate, po štirih letih pa je naložbeni sklad začel tehtati najboljše opcije za maksimiranje svoje naložbe. Transakcija je bila precej kompleksna, saj je vključevala številne ekipe znotraj UniCredit skupine, ki so sodelovale usklajeno kot orkester, da bi dosegli isti cilj – zadovoljiti vse vključene stranke. Zahvaljujoč našemu posredovanju so bili vsi potencialni kupci dobro podprti, celoten posel pa je bil sklenjen v zelo kratkem času. To je omogočilo podjetju nadaljevanje po poti rasti tudi z novim delničarjem – prav tako eno ključnih strank UniCredit. Ameriški sklad je uspel doseči zelo uspešno naložbo. En posel, več zadovoljnih strank. Medsebojno sodelovanje z istim ciljem daje odlične rezultate. Divizija Poslovanje s podjetji in investicijsko bančništvo, ITALIJA 28 UniCredit je vodilna banka na trgu srednje in vzhodne Evrope, kjer njeno široko mrežo sestavlja okoli 3.600 poslovnih enot.* Njena velikost se po regijah razlikuje, neposredno pa je prisotna v 14 državah. V 10 od teh 14 držav se uvršča med najboljših pet bank*. Srednja in vzhodna Evropa trenutno predstavljata 28 odstotokov prihodkov Skupine.** V novih državah članicah EU je pričakovati, da se bo gospodarska aktivnost še naprej izboljševala. Okrevanje je bilo čutiti že v večjem delu leta 2013, kar deloma zajema okrepljeno gospodarsko okolje, ki podpira industrijo in izvoz, saj ekonomska in monetarna unija (EMU) še vedno uporablja večji del regije kot bazo za konkurenčno proizvodnjo. V letu 2014 bi se moralo to okrevanje vidneje poznati na domačem povpraševanju. Po več letih fiskalne konsolidacije bi morale biti v prihodnje ovire za rast na tem področju veliko manjše. Razmerja javnega dolga ostajajo precej pod povprečjem za razvita gospodarstva. V mnogih primerih so se trgi dela stabilizirali. Monetarna politika je po vsej regiji izjemno prilagodljiva, medtem ko se bo zvišanje obrestnih mer verjetno realiziralo le postopoma. Napredek na področju bančne unije bi moral prinesti pozitivne rezultate novim državam članicam EU, medtem ko se je v več državah izkazalo, da kreditiranje nudi več podpore domačemu povpraševanju. V veliko novih državah članicah EU letos pričakujemo rast BDP v višini nad 2 %. Tržni delež 2 (%) Rusija 1,5 Ukrajina3 (UCI UA + USB) 3,4 Madžarska 6,0*** Slovenija 6,1 Slovaška 6,4 Češka republika 6,8 Romunija 6,9*** Srbija 8,7 Turčija 9,2 Poljska 10,6 Bolgarija 15,0 Bosna in Hercegovina 21,6** Hrvaška 26,5 * Na dan 30. 9. 2013. ** Na dan 30. 6. 2013. *** Na dan 31. 12. 2012. 2. Tržni delež po bilančni vsoti na dan 30. 9. 2013. Tržni delež za Azerbajdžan ni na voljo. 3. Pro-forma (Ukrsotsbank + UniCredit Banka Ukrajina). Vir: raziskava UniCredit, strateška analiza UniCredit SVE. V Turčiji in Rusiji so izzivi v bližnji prihodnosti večji. Po več letih močne rasti se bo dinamika letos v Turčiji upočasnila. Pri tem igra vlogo politična negotovost. Prav tako na upočasnitev vpliva umirjanje prilivov tujega kapitala, ki jih je deloma spodbudila degresija ameriške centralne banke. V nasprotju s tem, večja uspešnost industrije in izvoza prinaša koristi, kot v primeru novih držav članic EU. Rusija se še naprej prilagaja na stabilne namesto na stalno naraščajoče cene energije. To prilagajanje podpirajo večja prožnost valute, velika zaloga deviznih rezerv in izboljšave režima, s katerim uravnavajo inflacijo. V takšnih razmerah bo realna rast BDP v prihodnjih dveh letih bolj umirjena kot v preteklosti, vendar bo ostala pozitivna. Gledano s srednje- do dolgoročne perpektive, smo prepričani, da bo večina gospodarstev v srednji in vzhodni Evropi še naprej doživljala zviševala življenjski standard, saj rast podpirajo konkurenčni stroški dela, fleksibilni trgi dela in postopno okrevanje tujih neposrednih naložb. – Inovacije Procesi in časovni prihranki, ki služijo ciljem ljudi. Zahvaljujoč nam lahko kmetje sedaj hitreje pridejo do sredstev. Ministrstvo za kmetijstvo je namreč na predlog naše Banke razvilo hitrejšo metodo izplačevanja državnih podpor. Metoda se nanaša na obstoječi program, ki tistim strankam, ki izpolnjujejo določene zahteve, omogoča pridobitev hitrega posojila. Ko je posojilo odobreno, lahko do sredstev dostopajo še isti dan. To inovativno rešitev koristi 87 odstotkov kmetov. Pravna podpora za področje Poslovanja s podjetji UniCredit Bank Banja Luka – BOSNA IN HERCEGOVINA – – – 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. 2013 31. 12. 2012 Denar v blagajni in stanje na računih pri centralni banki 1 135.258 27.760 Finančna sredstva, namenjena trgovanju 2 15.394 44.428 Finančna sredstva, razpoložljiva za prodajo 3 251.352 314.093 Izvedeni finančni instrumenti, namenjeni varovanju 4 7.008 14.144 Krediti 5 2.023.996 2.364.631 Krediti bankam 123.517 85.936 Krediti strankam 1.895.472 2.269.317 Druga finančna sredstva 5.007 9.378 Finančna sredstva v posesti do zapadlosti 6 13.053 12.930 Opredmetena osnovna sredstva 7 9.163 10.747 Neopredmetena sredstva 8 19.472 19.236 Dolgoročne naložbe v kapital odvisnih, pridruženih in skupaj obvladovanih družb 9 - 253 Terjatve za davek od dohodkov pravnih oseb 10 11.868 6.974 Terjatve za davek 1.004 1.381 Odložene terjatve za davek 10.864 5.593 Druga sredstva 11 1.993 171 SKUPAJ SREDSTVA 2.488.557 2.815.367 Finančne obveznosti do centralne banke 12 253.226 251.823 Finančne obveznosti, namenjene trgovanju 13 17.188 43.593 Izvedeni finančni instrumenti, namenjeni varovanju 14 47.356 66.027 Finančne obveznosti, merjene po odplačni vrednosti 15 1.932.744 2.196.155 Vloge bank 323.731 576.933 Vloge strank 1.276.833 1.227.789 Krediti bank 285.915 346.820 Podrejene obveznosti 30.117 30.101 Druge finančne obveznosti 16.148 14.512 Rezervacije 16 6.137 2.443 Druge obveznosti 17 4.191 3.703 SKUPAJ OBVEZNOSTI 2.260.842 2.563.744 Osnovni kapital 18 20.384 20.384 Kapitalske rezerve 19 107.760 107.760 Presežek iz prevrednotenja 20 (4.465) (18.737) Rezerve iz dobička (vključno z zadržanim dobičkom) 21 104.036 141.679 Zadržani dobiček / izguba vključno s čistim dobičkom / izgubo poslovnega leta 22 - 537 SKUPAJ KAPITAL 227.715 251.623 SKUPAJ OBVEZNOSTI IN KAPITAL 2.488.557 2.815.367 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 2013 2012 Prihodki iz obresti 23 90.255 107.637 Odhodki za obresti 24 (41.866) (51.667) Čiste obresti 48.389 55.970 Prihodki iz dividend 25 5 1.824 Prihodki iz opravnin (provizij) 26 28.652 26.477 Odhodki za opravnine (provizije) 27 (5.198) (4.783) Čiste opravnine (provizije) 23.454 21.694 Realizirani dobički / izgube iz finančnih sredstev in obveznosti, ki niso merjeni po pošteni vrednosti skozi izkaz poslovnega izida 28 (130) (3.963) Čisti dobički / izgube iz finančnih sredstev in obveznosti, namenjenih trgovanju 29 (694) 1.560 Spremembe poštene vrednosti pri obračunavanju varovanj pred tveganji 30 2.570 45 Čisti dobički / izgube iz tečajnih razlik 31 (523) (39) Čisti dobički / izgube iz odprave pripoznanja sredstev brez nekratkoročnih sredstev v posesti za prodajo 32 (95) (116) Drugi čisti poslovni dobički / izgube 33 (721) 302 Administrativni stroški 34 (34.977) (36.836) Amortizacija 35 (5.052) (4.586) Rezervacije 36 (3.948) (917) Oslabitve 37 (75.647) (34.627) Čisti dobički / izgube iz nekratkoročnih sredstev v posesti za prodajo 38 (24) (1) DOBIČEK / IZGUBA IZ REDNEGA POSLOVANJA (47.393) 310 Davek iz dohodka pravnih oseb 39 8.194 763 ČISTI DOBIČEK / IZGUBA POSLOVNEGA LETA (39.199) 1.073 Osnovni in popravljeni dobiček / izguba na delnico (EUR) 22 (8,02) 0,22 Izkaz drugega vseobsegajočega donosa EUR 1.000 Vsebina Pojasnilo 2013 2012 Čisti dobiček / izguba poslovnega leta po obdavčitvi (39.199) 1.073 Drugi vseobsegajoči donos po obdavčitvi 20 14.272 9.662 Postavke, ki pozneje ne bodo prerazvrščene v poslovni izid 188 - Aktuarski čisti dobički / izgube za pokojninske programe, pripoznani v zadržanem dobičku / izgubi 227 - Davek iz dohodka pravnih oseb v zvezi s postavkami, ki pozneje ne bodo prerazvrščene v poslovni izid (39) - Postavke, ki bodo lahko pozneje prerazvrščene v poslovni izid 14.084 9.662 Čisti dobički / izgube, pripoznani v presežku iz prevrednotenja v zvezi z varovanjem denarnih tokov (uspešni del varovanja) 20 3.200 (2.298) Dobički / izgube, pripoznani v presežku iz prevrednotenja 3.200 (2.298) Čisti dobički / izgube, pripoznani v presežku iz prevrednotenja v zvezi s finančnimi sredstvi razpoložljivimi za prodajo 20 13.769 15.222 Dobički / izgube, pripoznani v presežku iz prevrednotenja (5.765) 5.861 Prenos dobičkov / izgub iz presežka iz prevrednotenja v poslovni izid 19.534 9.361 Davek iz dohodka pravnih oseb v zvezi s postavkami, ki bodo lahko pozneje prerazvrščene v poslovni izid 20 (2.885) (3.262) VSEOBSEGAJOČI DONOS POSLOVNEGA LETA PO OBDAVČITVI (24.927) 10.735 Predsednik uprave Član uprave Članica uprave Član uprave Finančni direktor Izkaz sprememb lastniškega kapitala EUR 1.000 Vsebina Osnovni kapital Kapitalske rezerve Presežek iz prevrednotenja 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 - - --- 537 (537) - Drugo (pripojitev UniCredit CAIB Slovenija, d.o.o.) - - --- 1.019 - 1.019 KONČNO STANJE V POSLOVNEM OBDOBJU 20.384 107.760 (9.006) 4.353 188 143.235 (39.199) 227.715 BILANČNI DOBIČEK POSLOVNEGA - - LETA EUR 1.000 Vsebina Osnovni kapital Kapitalske rezerve Presežek iz prevrednotenja 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 (9.402) (18.997) - 133.773 7.370 240.888 Vseobsegajoči donos poslovnega leta po obdavčitvi - - (2.260) 11.922 - - 1.073 10.735 Razporeditev čistega dobička v rezerve iz dobička - - --- 7.906 (7.906) - KONČNO STANJE V POSLOVNEM OBDOBJU 20.384 107.760 (11.662) (7.075) - 141.679 537 251.623 BILANČNI DOBIČEK POSLOVNEGA LETA 537 537 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 2013 2012 A. DENARNI TOKOVI PRI POSLOVANJU a) Čisti poslovni izid pred obdavčitvijo (47.393) 310 Amortizacija 5.052 4.586 Oslabitve / (odprava oslabitve) finančnih sredstev, razpoložljivih za prodajo 19.534 9.361 Oslabitve / (odprava oslabitve) kreditov 56.113 25.266 Oslabitve opredmetenih osnovnih sredstev, naložbenih nepremičnin, neopredmetenih dolgoročnih sredstev in drugih sredstev 38 - Čisti (dobički) / izgube iz tečajnih razlik 523 39 Neto (dobički) / izgube iz finančnih sredstev v posesti do zapadlosti (643) (239) Neto (dobički) / izgube pri prodaji opredmetenih osnovnih sredstev in naložbenih nepremičnin (5) 107 Drugi (dobički) / izgube iz financiranja 3.073 3.673 Druge prilagoditve čistega poslovnega izida pred obdavčitvijo 1.284 752 Denarni tokovi pri poslovanju pred spremembami poslovnih sredstev in obveznosti 37.576 43.855 b) (Povečanja) / zmanjšanja poslovnih sredstev (brez denarnih ekvivalentov) 243.278 64.909 Čisto (povečanje) / zmanjšanje finančnih sredstev, namenjenih trgovanju 93 718 Čisto (povečanje) / zmanjšanje finančnih sredstev, razpoložljivih za prodajo (81.660) 296 Čisto (povečanje) / zmanjšanje kreditov 319.533 71.231 Čisto (povečanje) / zmanjšanje izvedenih finančnih sredstev, namenjenih varovanju 7.135 (7.278) Čisto (povečanje) / zmanjšanje drugih sredstev (1.823) (58) c) Povečanja / (zmanjšanja) poslovnih obveznosti (263.521) (118.418) Čisto povečanje / (zmanjšanje) finančnih obveznosti do centralne banke 1.403 251.823 Čisto povečanje / (zmanjšanje) finančnih obveznosti, namenjenih trgovanju (436) 33 Čisto povečanje / (zmanjšanje) vlog in najetih kreditov, merjenih po odplačni vrednosti (255.292) (371.349) Čisto povečanje / (zmanjšanje) izvedenih finančnih obveznosti, namenjenih varovanju (9.685) 1.637 Čisto povečanje / (zmanjšanje) drugih obveznosti 489 (562) č) Denarni tokovi pri poslovanju (a+b+c) 17.333 (9.654) d) (Plačani) / vrnjeni davek na dohodek pravnih oseb 290 (2.802) e) Neto denarni tokovi pri poslovanju (č+d) 17.623 (12.456) B. DENARNI TOKOVI PRI NALOŽBENJU a) Prejemki pri naložbenju 553 19.772 Prejemki pri prodaji opredmetenih osnovnih sredstev in naložbenih nepremičnin 33 28 Prejemki pri prodaji finančnih sredstev v posesti do zapadlosti - 19.744 Drugi prejemki iz naložbenja 520 b) Izdatki pri naložbenju (3.769) (17.377) (Izdatki pri nakupu opredmetenih osnovnih sredstev in naložbenih nepremičnin) (612) (409) (Izdatki pri nakupu neopredmetenih sredstev) (3.157) (4.247) (Izdatki pri nakupu naložb v kapital pridruženih, skupaj obvladovanih in odvisnih družb) - (253) (Izdatki za nakup finančnih sredstev v posesti do zapadlosti) - (12.468) c) Neto denarni tokovi pri naložbenju (a-b) (3.216) 2.395 C. Učinki spremembe deviznih tečajev na denarna sredstva in njihove ustreznike (3.431) (653) D. Čisto povečanje denarnih sredstev in denarnih ustreznikov (Ae+Bc) 14.407 (10.061) E. Denarna sredstva in njihovi ustrezniki na začetku obdobja (Pojasnilo 40) 243.545 254.259 F. Denarna sredstva in njihovi ustrezniki na koncu obdobja (C+D+E) (Pojasnilo 40) 254.521 243.545 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 2013 je imela Banka skupno 29 poslovnih enot po vsej Sloveniji. Banka je hčerinska banka UniCredit Bank Austria AG. Matična banka Skupine je UniCredit S.p.A. s sedežem v Rimu, A. Specchi, 16, 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 (Uradni list RS, št. 131/06; 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); • 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 4. februarja 2014. 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 (MSRP) in pojasnili, ki jih je objavil Odbor za mednarodne računovodske standarde (International Accounting Standards Board, IASB) in jih je sprejela Evropska unija. 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. 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. Računovodski izkazi Povzetek računovodskih usmeritev • 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. Banka je v letu 2013 pričela za izvedene finančne instrumente pri izračunu poštene vrednosti upoštevati tudi kreditno tveganje nasprotne stranke. Posledično so terjatve znižane za prilagoditev kreditnega vrednotenja (angleško: Credit Value Adjustment, v nadaljevanju CVA), obveznosti pa skladno z MSRP 13, ki velja za obračunska obdobja, ki se začnejo 1. januarja 2013 ali pozneje, za prilagoditev vrednotenja obveznosti (angleško: Debt Value Adjustment, v nadaljevanju DVA). 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 navedenih v poglavju Bančna tveganja. SPREMEMBE RAČUNOVODSKIH USMERITEV Banka v letu 2013 ni spremenila računovodskih usmeritev razen tistih, ki so posledica novih in spremenjenih standardov. NOVI STANDARDI TER OBSTOJEČI STANDARDI, SPREMENJENI V LETU 2013 V letu 2013 veljajo naslednji standardi, spremembe obstoječih standardov in pojasnila, ki jih je izdal Odbor za mednarodne računovodske standarde (OMRS) in ki jih je sprejela EU: • MSRP 13 »Merjenje poštene vrednosti«, ki ga je EU sprejela 11. decembra 2012 (velja za letna obdobja, ki se začnejo 1. januarja 2013 ali pozneje), • Spremembe MSRP 1 »Prva uporaba MSRP« – Visoka hiperinflacija in odstranitev dogovorjenih datumov za uporabnike, ki prvič uporabljajo MSRP, ki ga je EU sprejela 11. decembra 2012 (veljajo za letna obdobja, ki se začnejo 1. januarja 2013 ali pozneje), • Spremembe MSRP 1 »Prva uporaba MSRP« – Državna posojila, ki ga je EU sprejela 4. marca 2013 (velja za letna obdobja, ki se začnejo 1. januarja 2013 ali pozneje), • Spremembe MSRP 7 »Finančni instrumenti: razkritja« – Pobotanje finančnih sredstev in obveznosti, ki ga je EU sprejela 13. decembra 2012 (velja za letna obdobja, ki se začnejo 1. januarja 2013 ali pozneje), • Spremembe MRS 1 »Predstavljanje računovodskih izkazov« – Predstavljanje postavk drugega vseobsegajočega donosa, ki ga je EU sprejela 5. junija 2012 (velja za letna obdobja, ki se pričnejo 1. julija 2012 ali pozneje), • Spremembe MRS 12 »Davek iz dobička« – Odloženi davek: Povrnitev zadevnih sredstev, ki ga je EU sprejela 11. decembra 2012 (velja za letna obdobja z začetkom 1. januarja 2013 ali pozneje), • Spremembe MRS 19 »Zaslužki zaposlencev« – Izboljšave obračunavanja pozaposlitvenih zaslužkov, ki ga je EU sprejela 5. junija 2012 (velja za letna obdobja, ki se pričnejo 1. januarja 2013 ali pozneje), • Spremembe različnih standardov »Izboljšave MSRP (obdobje 2009­2011)«, ki izhajajo iz letnega projekta za izboljšanje MSRP (MSRP 1, MRS 1, MRS 16, MRS 32, MRS 34), predvsem z namenom odpravljanja neskladnosti in razlage besedila, ki jih je EU sprejela 27. marca 2013 (spremembe je treba uporabljati za letna obdobja, ki se začnejo 1. januarja 2013 ali pozneje), • OPMSRP 20 »Stroški odstranjevanja v proizvodni fazi površinskega najdišča«, ki ga je EU sprejela 11. decembra 2012 (velja za letna obdobja, ki se pričnejo 1. januarja 2013 ali pozneje). MSRP 13 »Merjenje poštene vrednosti« je privedel do sprememb pri izračunavanju poštene vrednosti obveznosti, ki izhajajo iz izvedenih finančnih instrumentov. Učinki so razkriti v pojasnilih 13, 14, 29 in 30. Zaradi spremembe MRS 19 »Zaslužki zaposlencev« je Banka pričela pripoznavati aktuarske dobičke in izgube namesto v izkazu poslovnega izida v drugem vseobsegajočem donosu; učinki so razkriti v pojasnilu 20. Sprejetje ostalih sprememb obstoječih standardov ni privedlo do sprememb v računovodskih usmeritvah Banke. IZDANI, VENDAR ŠE NE UVELJAVLJENI STANDARDI IN POJASNILA Na datum odobritve teh računovodskih izkazov so naslednji standardi, spremembe obstoječih standardov in pojasnila, ki jih je izdal OMRS in sprejela EU, bili izdani, vendar še niso stopili v veljavo: • MSRP 10 »Konsolidirani računovodski izkazi«, ki ga je EU sprejela 11. decembra 2012 (velja za letna obdobja, ki se začnejo 1. januarja 2014 ali pozneje), • MSRP 11 »Skupne ureditve«, ki ga je EU sprejela 11. decembra 2012 (velja za letna obdobja, ki se začnejo 1. januarja 2014 ali pozneje), • MSRP 12 »Razkritje deležev v drugih družbah«, ki ga je EU sprejela 11. decembra 2012 (velja za letna obdobja, ki se začnejo 1. januarja 2014 ali pozneje), • MRS 27 (spremenjen leta 2011) »Ločeni računovodski izkazi«, ki ga je EU sprejela 11. decembra 2012 (velja za letna obdobja, ki se pričnejo 1. januarja 2014 ali pozneje), • MRS 28 (spremenjen leta 2011) »Naložbe v pridružena podjetja in skupna vlaganja«, ki ga je EU sprejela 11. decembra 2012 (velja za letna obdobja, ki se pričnejo 1. januarja 2014 ali pozneje), • Spremembe MSRP 10 »Konsolidirani računovodski izkazi«, MSRP 11 »Skupne ureditve« in MSRP 12 »Razkritje deležev v drugih družbah« – Napotki za prehod, ki jih je EU sprejela 4. aprila 2013 (veljajo za letna obdobja, ki se pričnejo 1. januarja 2014 ali pozneje), • Spremembe MSRP 10 »Konsolidirani računovodski izkazi«, MSRP 12 »Razkritje deležev v drugih družbah« in MRS 27 (spremenjen 2011) »Ločeni računovodski izkazi« – Naložbena podjetja, ki jih je EU sprejela 20. novembra 2013 (veljajo za letna obdobja, ki se pričnejo 1. januarja 2014 ali pozneje), • Spremembe MRS 32 »Finančni instrumenti: predstavitev« – Pobotanje finančnih sredstev in obveznosti, ki jih je EU sprejela 13. decembra 2012 (velja za letna obdobja, ki se začnejo 1. januarja 2014 ali pozneje), • Spremembe MRS 36 »Oslabitev sredstev« – Razkritja nadomestljive vrednosti za nefinančna sredstva, ki jih je EU sprejela 19. decembra 2013 (veljajo za letna obdobja, ki se pričnejo 1. januarja 2014 ali pozneje), • Spremembe MRS 39 »Finančni instrumenti: Pripoznavanje in merjenje« – Novacija izpeljanih finančnih instrumentov in nadaljevanje obračunavanja varovanja pred tveganjem, ki jih je EU sprejela 19. decembra 2013 (veljajo za letna obdobja, ki se pričnejo 1. januarja 2014 ali pozneje). Banka predvideva, da novi in spremenjeni standardi ne bodo pomembno vplivali na njene računovodske izkaze, ko jih bo prvič uporabila. PREVEDBA TUJE VALUTE Funkcijska in predstavitvena valuta: Postavke v računovodskih izkazih so za leti 2013 in 2012 evidentirane v evrih, ki so funkcijska in predstavitvena valuta Banke. Transakcije in stanja: Transakcije v tuji valuti so pretvorjene v funkcijsko valuto z uporabo menjalnega tečaja Evropske centralne banke na dan posla. Vsak dobiček ali izguba, ki izhaja iz poravnave transakcij v tujih valutah ter iz pretvorbe denarnih postavk v tujih valutah v funkcijsko valuto, je poročan v izkazu poslovnega izida, razen če je zadržan v kapitalu v primeru varovanja denarnih tokov pred tveganjem ter za prodajo razpoložljivih finančnih sredstev. Valutni terminski posli se preračunajo v evre po sklenjenem terminskem tečaju. 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 od 1. januarja 2013 dalje upoštevajoč tudi 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 valutnih izvedenih finančnih instrumentov je njihova tržna cena v sistemu Wall Street, poštena vrednost obrestnih izvedenih finančnih instrumentov pa tržna cena v sistemu OPUS. Pošteno vrednost izvedenih finančnih instrumentov na lastniške vrednostne papirje ter blagovnih izvedenih finančnih instrumentov pa Banki posreduje Bayerische Hypo- und Vereinsbank AG, München. INSTRUMENTI ZA VAROVANJE PRED TVEGANJEM a) Varovanje poštene vrednosti pred tveganjem V letu 2013 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). Varovanje se nanaša na izpostavljenost variabilnosti denarnih tokov, ki so povezani s pripoznanimi sredstvi ali pripoznanimi obveznostmi do virov sredstev ali pa z načrtovano oz. predvideno transakcijo (ali posameznimi deli teh treh), kar bo vplivalo na čisti dobiček. Instrument varovanja je pripoznan po pošteni vrednosti. Varovane postavke so obrestni denarni tokovi (predvidene transakcije) transakcij, ki so v ozadju. Pri slednjih gre lahko za transakcije s strankami ali z vrednostnimi papirji, na strani sredstev ali obveznosti v izkazu finančnega položaja, pri katerih je obrestna mera občutljiva na tržne spremembe. Instrumenti varovanja so katerikoli izvedeni finančni instrumenti, ki lahko varujejo pred izpostavljenostjo variabilnosti relevantnih denarnih tokov. Spremembe poštene vrednosti so razdeljene na učinkovit del, ki ga je mogoče pripisati varovanju, in na neučinkovit del, ki ga ni mogoče pripisati varovanju. Varovanje šteje kot učinkovito, če so za vsako časovno obdobje neto denarni tokovi, povezani z instrumenti varovanja, v razmiku 80 % do 125 % glede na denarne tokove pred tveganjem varovane postavke (postavk). Učinkoviti deli so pripoznani neposredno v kapitalu (Presežek iz prevrednotenja, varovanje denarnih tokov). Neučinkoviti del dobička ali izgube na instrumentu varovanja je pripoznan v izkazu poslovnega izida. Da bi se izognili neučinkovitosti, se pripravljajo projekcije, predvsem za limite in morebitne vzroke neučinkovitosti. Oddelek za tržna tveganja konec vsakega meseca izvede preskus učinkovitosti. Spremembe poštene vrednosti izvedenih finančnih instrumentov, ki izhajajo iz kreditnega opredmetenih osnovnih sredstev in neopredmetenih dolgoročnih sredstev, iz financiranja, čisti nerealizirani dobički v presežku iz prevrednotenja 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 so v letu 2013 pripoznani v presežku iz prevrednotenja (v preteklih letih pa v poslovnem izidu). 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 dolgoročni 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. Kriteriji izračuna poštene vrednosti za s kapitalom poravnane delniške opcije: Poštena vrednost je bila izračunana z uporabo »Hull and White« modela. Model temelji na trinominalnem drevesu cenovne distribucije z uporabo Boyleovega algoritma in ocenjuje zgodnjo verjetnost izpolnitve na temelju determinističnega modela, ki je povezan z doseganjem tržne vrednosti delnice, kar je enako izpolnitvenemu večkratniku cene in verjetnosti, da jih bo upravičenec odtujil v obdobju moratorija neizvršljivosti opcij. Kriteriji izračuna poštene vrednosti delnice: Poštena vrednost je bila izračunana na podlagi tržne vrednosti delnice zmanjšana za sedanjo vrednost dividend, ki se nanašajo na obdobje od podelitve do izvršitve pravice. Odmerno obdobje za delnice je 1 leto, odmerno obdobje za delniške opcije pa štiri leta. Pravice iz naslova podeljenih delnic je možno uveljaviti v 5 mesecih po koncu odmernega obdobja, iz naslova delniški opcij pa v 6 do 10 letih po koncu odmernega obdobja. DELNIŠKI KAPITAL Delniški kapital je sestavljen iz vpoklicanega osnovnega kapitala, kapitalskih rezerv, presežka iz prevrednotenja (presežka iz prevrednotenja pri poslih z vrednostnimi papirji, razpoložljivimi za prodajo, in varovanja denarnih tokov), 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. 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. Računovodski izkazi Povzetek računovodskih usmeritev 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). Trenutna davčna stopnja za davek od dohodkov pravnih oseb je 17 % (za leto 2012: 18 %). Za odložene davke je uporabljena stopnja 17 % (za leto 2012: 17 %, 16 % oz. 15 %, ki jih je tedanja zakonodaja določala kot stopnje davka od dohodkov pravnih oseb za leta 2013, 2014 in 2015). 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«. V letu 2013 uvedeni 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 2013 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. Gibanje EUR 1.000 2013 2012 Začetno stanje 12.930 19.968 Povečanje 642 13.094 Nakup 642 12.632 Pozitivno vrednotenje in tečajne razlike - 462 Zmanjšanje (519) (20.132) Unovčenje (519) (20.132) Končno stanje 13.053 12.930 Pojasnilo 7: Opredmetena osnovna sredstva 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 EUR 1.000 Vlaganja v tuje Računalniška 2012 Oprema v objekte oprema Druga oprema pripravi Skupaj Nabavna vrednost Začetno stanje 12.575 5.233 6.423 726 24.957 Povečanje - - - 433 433 Prenos iz opreme v pripravi - 442 236 (678) - Izločitev (357) (405) (176) - (938) Končno stanje 12.218 5.270 6.483 481 24.452 Amortizacijski popravek vrednosti Začetno stanje 5.519 3.488 3.223 - 12.230 Amortizacija za leto 1.008 488 762 - 2.258 Izločitev (241) (403) (139) - (783) Končno stanje 6.286 3.573 3.846 - 13.705 Čista knjigovodska vrednost Začetno stanje 7.056 1.745 3.200 726 12.727 Končno stanje 5.932 1.697 2.637 481 10.747 Vloge strank EUR 1.000 31. 12. 2013 31. 12. 2012 Na vpogled 585.516 669.800 Podjetja 245.685 372.244 Finančne institucije 147.536 83.563 Javni sektor 26.284 76.681 Prebivalstvo 157.387 128.755 Samostojni podjetniki 8.624 8.557 Kratkoročne vloge 464.338 310.715 Podjetja 238.583 17.204 Finančne institucije 49.558 42 Javni sektor 35.139 176.439 Prebivalstvo 140.799 115.712 Samostojni podjetniki 259 1.318 Dolgoročne vloge 226.979 247.274 Podjetja 19.266 23.267 Finančne institucije 10.670 10.190 Javni sektor 2.770 10.585 Prebivalstvo 194.169 199.058 Samostojni podjetniki 104 4.174 Skupaj 1.276.833 1.227.789 Podrejene obveznosti EUR 1.000 31. 12. 2013 31. 12. 2012 Podrejene obveznosti do bank 30.117 30.101 Skupaj 30.117 30.101 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. 2013 31. 12. 2012 Sredstva za nakazilo v tujino 2.866 4.614 Obveznosti za provizije 209 266 Obveznosti v obračunu 4.731 1.796 Obveznosti do dobaviteljev 1.074 1.026 Vnaprej vracunani odhodki in stroški 3.761 3.405 Druge poslovne obveznosti 3.507 3.405 Skupaj 16.148 14.512 Delnice in delniške opcije 2013 Izpolnitvena količina Povprečna izpolnitvena cena 2012 Izpolnitvena količina Povprečna izpolnitvena cena Začetno stanje Delnice 512 7,38 35.315 1,87 Delniške opcije 6.397 0,40 132.733 0,74 Podeljene v letu Delnice - - - - Delniške opcije - - - - Odvzete v letu Delnice 512 7,38 34.803 0,78 Delniške opcije 6.397 0,40 105.192 0,38 Uveljavljene v letu Delniške opcije - - 21.144 1,33 Zapadle v letu - - - - Končno stanje Delnice - - 512 7,38 Delniške opcije - - 6.397 0,40 Možne za uveljavitev na dan 31.12. - - - - Ostali administrativni stroški EUR 1.000 2013 2012 Odhodki za nepremičnine, vzete v poslovni najem 2.298 2.432 Storitve za računalniško in programsko opremo 2.183 2.295 Komunikacijske storitve 1.383 1.387 Stroški svetovalnih in revizijskih storitev 2.432 2.151 Ostale storitve drugih 706 747 Stroški reklame 1.049 1.028 Stroški izobraževanja 97 404 Stroški materiala 261 330 Stroški vzdrževanja osnovnih sredstev 544 621 Stroški zavarovanja 524 595 Stroški za službena potovanja 110 182 Ostali stroški 750 736 Skupaj 12.337 12.908 Stroški svetovalnih in revizijskih storitev vključujejo stroške revizije računovodskih izkazov za leto 2013 v višini 101 tisoč evrov revizijske hiše Deloitte revizija d.o.o. ter presežek dejanskih stroškov nad vračunanimi za revizijo računovodskih izkazov za leto 2012 revizijske hiše KPMG Slovenija, podjetje za revidiranje, d.o.o. v višini 11 tisoč evrov. Banka ima v najemu večje število poslovnih prostorov. Najemne pogodbe so sklenjene za do 15 let z možnostjo podaljšanja oziroma predčasne prekinitve. Najmanjša vsota najemnin, ki bi jih Banka morala plačati v največ letu dni, je 2.218 tisoč evrov, v več kot letu dni in ne več kot petih letih 2.255 tisoč evrov in v več kot petih letih 573 tisoč evrov (leta 2012: 2.328 tisoč evrov v največ letu dni, v več kot letu dni in ne več kot petih letih 2.598 tisoč evrov in v več kot petih letih 735 tisoč evrov). Bilanca stanja iz poslovanja po pooblastilu Pojasnilo 42: Poslovanje po pooblastilu EUR 1.000 31. 12. 2013 31. 12. 2012 Denarna sredstva strank za posredovanje s finančnimi instrumenti 3.336 7.370 Terjatve iz poslov posredovanja s finančnimi instrumenti - 1.183 Terjatve iz poslov gospodarjenja s finančnimi instrumenti 19.422 7.755 Terjatve po skrbniških poslih 5.281.706 5.502.300 Terjatve do KDD za prodane finančne instrumente 1.708 - Terjatve do drugih poravnalnih sistemov in institucij za prodane finančne instrumente (kupcev) 829 85 Terjatve iz poravnalnega poslovanja 1.709 244 Denarna sredstva strank iz drugih poslov po pooblastilu - 130 Terjatve iz drugih poslov v tujem imenu in za tuj račun 82.361 65.674 Skupaj sredstva 5.391.071 5.584.741 Obveznosti do strank iz denarnih sredstev in finančnih instrumentov 22.758 15.124 Obveznosti do KDD za kupljene finančne instrumente 1.465 245 Obveznosti do drugih poravnalnih sistemov in institucij za kupljene finančne instrumente (dobaviteljev) 5.282.768 5.503.323 Obveznosti do banke za provizije, stroške ipd. 10 1 Obveznosti iz poravnalnega poslovanja 1.708 244 Obveznosti iz drugih poslov v tujem imenu in za tuj račun 82.362 65.804 Skupaj obveznosti 5.391.071 5.584.741 Pojasnilo 43: Posredniško poslovanje EUR 1.000 31. 12. 2013 31. 12. 2012 Terjatve poravnalnega oz. transakcijskih računov za sredstva strank 5.303.665 5.511.323 Iz finančnih instrumentov 5.301.128 5.511.238 Do KDD oz.obračunskega računa banke za prodane finančne instrumente 1.708 - Do drugih poravnalnih sistemov in institucij za prodane finančne instrumente (kupcev) 829 85 Denarna sredstva strank 3.336 7.370 Na poravnalnem računu za sredstva strank 488 6.763 Na transakcijskih računih bank 2.848 607 Skupaj sredstva 5.307.001 5.518.693 Obveznosti poravnalnega oz. transakcijskih računov za sredstva strank 5.307.001 5.518.693 Do strank iz denarnih sredstev in finančnih instrumentov 22.758 15.124 Do KDD oz. obračunskega računa banke za kupljene finančne instrumente 1.465 245 Do drugih poravnalnih sistemov in institucij za kupljene finančne instrumente (dobaviteljev) 5.282.768 5.503.323 Do banke oz. poravnalnega računa za provizije, stroške, ipd. 10 1 Skupaj obveznosti 5.307.001 5.518.693 Zabilančna evidenca 5.301.128 5.511.238 Finančni instrumenti, ločeno po storitvah 5.301.128 5.511.238 Sprejemanje, posredovanje in izvrševanje naročil - 1.183 Gospodarjenje s finančnimi instrumenti 19.422 7.755 Skrbniški posli 5.281.706 5.502.300 Računovodski izkazi Pojasnila k računovodskim izkazom Prihodki in odhodki iz opravnin v zvezi z investicijskimi storitvami in posli EUR 1.000 2013 2012 Prihodki iz opravnin (provizij) v zvezi z investicijskimi in pomožnimi investicijskimi storitvami in posli za stranke 5.107 5.071 Sprejemanje, posredovanje in izvrševanja naročil 302 270 Gospodarjenje s finančnimi sredstvi 265 131 Izvedba prvih ali nadaljnjih prodaj brez obveznosti odkupa 63 93 Skrbništvo in sorodne storitve 4.477 4.577 Odhodki iz opravnin (provizij) v zvezi z investicijskimi in pomožnimi investicijskimi storitvami in posli za stranke 903 934 Opravnine v zvezi s KDD družbo in njej podobnimi organizacijami 341 216 Opravnine v zvezi z borzo vrednostnih papirjev in njej podobnimi organizacijami 562 718 Pojasnilo 44: 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. 2013 31. 12. 2012 Krediti 113.351 96.157 Uprava 318 337 Ključno ravnateljsko osebje 194 201 Ožji družinski člani uprave 1 - Matična banka 98.328 73.078 Ostale povezane osebe v skupini UniCredit 14.510 22.541 Izvedeni finančni instrumenti 7.266 14.804 Ostale povezane osebe v skupini UniCredit 7.266 14.804 Druga sredstva 1.038 - Matična banka 888 - Ostale povezane osebe v skupini UniCredit 150 - Skupaj sredstva 121.655 110.961 Finančne obveznosti, merjene po odplačni vrednosti 586.270 867.692 Uprava 225 128 Ključno ravnateljsko osebje 11 140 Ožji družinski člani uprave 179 138 Matična banka 579.705 861.574 Ostale povezane osebe v skupini UniCredit 6.150 5.713 Izvedeni finančni instrumenti 64.293 108.722 Matična banka 66 - Ostale povezane osebe v skupini UniCredit 64.227 108.722 Druge obveznosti 1.230 1.585 Matična banka 443 506 Ostale povezane osebe v skupini UniCredit 787 1.080 Skupaj obveznosti 651.793 978.000 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 2013 2012 Prihodki iz obresti 811 1.828 Uprava 3 5 Ključno ravnateljsko osebje 4 3 Matična banka 87 115 Ostale povezane osebe v skupini UniCredit 717 1.706 Odhodki za obresti 16.961 27.221 Uprava 4 8 Ožji družinski člani uprave 4 2 Matična banka 8.075 18.848 Ostale povezane osebe v skupini UniCredit 8.878 8.363 Prihodki iz opravnin (provizij) 1.441 1.684 Matična banka 795 877 Ostale povezane osebe v skupini UniCredit 646 808 Odhodki za opravnine (provizije) 473 727 Matična banka 152 707 Ostale povezane osebe v skupini UniCredit 321 19 Čisti dobički / izgube iz finančnih sredstev in obveznosti, namenjenih trgovanju 13.685 14.659 Matična banka 705 (5) Ostale povezane osebe v skupini UniCredit 12.980 14.664 Spremembe poštene vrednosti pri obračunavanju varovanj pred tveganji 2.570 - Ostale povezane osebe v skupini UniCredit 2.570 - Drugi poslovni dobički 1.052 1.321 Matična banka 890 1.163 Ostale povezane osebe v skupini UniCredit 162 158 Administrativni stroški 2.906 2.544 Matična banka 51 - Ostale povezane osebe v skupini UniCredit 2.855 2.544 Razmejitve za nekoriščen dopust (1) (3) Uprava (1) (3) Rezervacije za jubilejne nagrade in odpravnine 4 (25) Uprava 4 (11) Ključno ravnateljsko osebje - (14) Enostavnost Banka na dosegu roke. Stranke imajo danes manj časa za obisk bančne poslovalnice, čeprav se njihove potrebe niso spremenile. Potrebujejo visoko tehnološke načine dostopanja do bančnih storitev kadarkoli in kjerkoli. Odgovor na njihove potrebe? Subito Banca, ki vključuje tudi aplikacijo, ki smo jo razvili s pomočjo povratnih informacij pridobljenih od naših strank. Omogoča širok nabor spletnih bančnih postopkov, hkrati pa ponuja tudi možnost nakupa novih Samsung pametnih telefonov in tablic po znižanih cenah. Transakcijski produkti in partnerstva UniCredit - Italija Računovodski izkazi Bančna tveganja Celovito upravljanje s tveganji UniCredit Banka Slovenija d.d. skladno z načeli finančne 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 finančni 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. Skladno z zakonodajo odločitve potrjuje nadzorni svet Banke, kadar gre za nastanek velike izpostavljenosti. V kreditnem odboru je prisoten predstavnik iz področja upravljanja s tveganji in iz področja prodajnih enot ter predsednik uprave. Seje kreditnega odbora praviloma potekajo enkrat tedensko. Glede na boniteto dolžnika ločimo redni kreditni odbor in kreditni odbor za področje prestrukturiranja posebnih primerov. 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 odgovoren 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 odgovoren tudi za preverjanje, ali sta merjenje in sistem nadzora operativnega tveganja močno integrirana v dnevni proces obvladovanja tveganj Banke. Odbor se sestaja vsaj štirikrat na leto. SPREJEMANJE TVEGANJ Poslovanje s strankami mora biti obravnavano brez obrestnega, valutnega in likvidnostnega tveganja. Zato je nujna določitev jasnih izhodišč za oblikovanje cen za posojila in depozite strank, s čimer zagotavljamo jasne ločitve prejemkov poslovanja s strankami od funkcije internega upravljanja s sredstvi in obveznostmi banke. Tržno in likvidnostno tveganje sta prek tržnega sistema transfernih cen prenesena na enote, ki nosijo tveganje. Enota Upravljanje bilance banke je odgovorna za obvladovanje tržnih tveganj in upravlja z likvidnostnim tveganjem ter poroča neposredno izvršnemu direktorju za finance (CFO). Enota Upravljanje bilance banke je odgovorna tudi za optimiziranje celostne strukture ročnosti in donosa Banke. Računovodski izkazi Bančna tveganja POLITIKA BANKE GLEDE SLABITEV IN REZERVACIJ 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 stranke iz segmenta 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. Banka redno spremlja razvoj kreditnega portfelja in pokritost s slabitvami 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. • »Prestrukturiranje«: v takih primerih si Banka prizadeva prestrukturirati izpostavljenost do stranke z namenom, da se stranki pomaga vzpostaviti status poravnavanja obveznosti brez zamud kakor tudi minimizirati potencialno izgubo za Banko. Te aktivnosti izvaja enota Posebni primeri v sodelovanju s poslovnimi divizijami. • »Posebni primeri«: pomeni, da je bila pogodba s stranko že prekinjena in/ali odpovedana, odgovornost za spremljanje in izvedbo v zvezi s poplačili izpostavljenosti do Banke preko različnih oblik izvensodne ali sodne poravnave pa v celoti prevzame enota Posebni primeri. Tabela prikazuje izpostavljenost banke tržnim tveganjem EUR 1.000 Vsebina 31. 12. 2013 31. 12. 2012 Sredstva Denar v blagajni in stanje na računih pri centralni banki 135.258 27.760 Finančna sredstva, namenjena trgovanju 15.394 44.428 Finančna sredstva, razpoložljiva za prodajo 251.352 314.093 Izvedeni finančni instrumenti, namenjeni varovanju 7.008 14.144 Krediti 2.023.996 2.364.631 Finančna sredstva v posesti do zapadlosti 13.053 12.930 Dolgoročne naložbe v kapital odvisnih, pridruženih in skupaj obvladovanih družb 0 253 Skupaj 2.446.061 2.778.239 Obveznosti Finančne obveznosti do centralne banke 253.226 251.823 Finančne obveznosti, namenjene trgovanju 17.188 43.593 Izvedeni finančni instrumenti, namenjeni varovanju 47.356 66.027 Finančne obveznosti, merjene po odplačni vrednosti 1.932.744 2.196.155 Rezervacije 6.137 2.443 Skupaj 2.256.651 2.560.041 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. Limite v Banki dnevno spremlja enota za tržna tveganja. Ob vsakokratni prekoračitvi limita se nemudoma sproži proces spremljanja, obveščanja in ukrepanja, na način kot je določen v pravilniku. V procesu se določijo najprimernejši ukrepi za ponovno vzpostavitev izpostavljenosti v okviru limita. O kršitvah limitov se redno poroča na sejah ALCO odbora. UniCredit Banka Slovenija d.d. uporablja za izračun kapitalske zahteve za tržna tveganja standardiziran pristop. Interno se za merjenje izpostavljenosti tržnim tveganjem uporablja metodologija skupine UniCredit, ki temelji na tvegani vrednosti (VaR). VaR predstavlja največjo pričakovano izgubo premoženja v določenem časovnem obdobju, izračunano z določeno stopnjo zaupanja. Za namene internega merjenja izpostavljenosti tržnim tveganjem Banka uporablja IMOD model, ki so ga razvili v skupini UniCredit. Skupina skrbi tako za dnevne izračune tvegane vrednosti kot tudi za redna testiranja modela za nazaj (back testing), redno vključitev novih produktov ter za prilagajanje modela Računovodski izkazi Bančna tveganja Analiza občutljivosti neto ekonomske vrednosti na obrestno tveganje Faktor tveganja Scenarij Rezultati stresnih scenarijev (EUR) 31. 12. 2013 EUR CHF USD Rezultati stresnih scenarijev (EUR) 31. 12. 2012 EUR CHF USD vzporedni premik -200b.t. (2.509.277) 96.282 (2.835) (3.768.296) 44.496 17.170 vzporedni premik +200b.t. (300.023) (168.970) 9.151 2.704.615 (150.048) (65.880) vzporedni premik -100b.t. (1.025.432) 72.520 (2.835) (3.060.749) 38.968 17.170 vzporedni premik +100b.t. (123.004) (87.449) 4.602 1.429.569 (77.918) (33.140) premik Primer 1 (515.499) / / (1.235.889) / / premik Primer 2 372.059 / / 752.612 / / Portfelj dolžniških vrednostnih papirjev Banke združuje predvsem obveznice prvorazrednih izdajateljev, ki so uvrščene bodisi v kategorijo trgovalnih vrednostnih papirjev, kategorijo papirjev razpoložljivih za prodajo ali kategorijo papirjev v posesti do zapadlosti. 69 % portfelja obveznic Banke predstavljajo na dan 31. december 2013 obveznice, katerih izdajatelj je Republika Slovenija. Banka redno spremlja položaj na finančnih trgih in ocenjuje kreditno kvaliteto izdajateljev. Poleg portfelja dolžniških vrednostnih papirjev ustvarjajo izpostavljenosti kreditnemu tveganju DVP tudi pozicije, ki izhajajo iz trgovanja s terminskimi pogodbami na DVP. Kot merilo kreditnega tveganja DVP Banka dnevno izračunava in nadzira velikost spremembe tržne vrednosti svojih portfeljev, ki bi jo povzročila morebitna sprememba kreditnih premij izdajateljev za eno bazično točko. Učinki spremembe kreditne premije vseh izdajateljev za eno bazično točko v letu 2013 EUR Valuta Do 3 mesece 3 mesece do 1 leta 31. 12. 2013 1 do 3 let 3 do 10 let Nad 10 let Skupaj Letni max, min, povprečje Letni maksimum Letni minimum Absolutno 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 Učinki spremembe kreditne premije vseh izdajateljev za eno bazično točko v letu 2012 EUR Do 3 3 mesece 31. 12. 2012 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 406 (340) (20) (592) (264) (809) 1.059 (5.154) 2.256 EUR (8.221) (11.638) 62 34.363 650 15.216 43.139 14.142 28.331 USD (166) 77 (244) 0 0 (333) 196 (493) 38 Skupaj 8.793 12.057 326 34.954 914 16.361 45.691 14.698 30.888 Banka je zgoraj predstavljeni pristop, zasnovan na analizi občutljivosti sprememb kreditnih premij, razširila z dodatnim mesečnim testiranjem šoka povečanja kreditne premije na obveznice v portfelju Banke, katerih izdajatelj je Republika Slovenija. V primeru uresničitve stresnega testa vzporednega premika krivulje kreditnih premij za +200 bazičnih točk bi ekonomska vrednost Banke na dan 31. december 2013 rezultirala v izgubi v višini 6,2 milijona evrov, ob upoštevanju sedanje vrednosti pozicije Banke v obveznicah, katerih izdajatelj je Republika Slovenija. UniCredit Banka Slovenija d.d. za namene upravljanja valutnega tveganja poleg tvegane vrednosti (FX VaR) dnevno spremlja in nadzira izpostavljenost Banke v posameznih tujih valutah, vključno s primerjavo dejanske dnevne izpostavljenosti z določenimi limiti za posamezno valuto. Banka je med letom 2013 imela materialne pozicije izključno v pomembnejših tujih valutah, kar je predstavljeno v naslednji tabeli. Odprta devizna pozicija v letu 2013 in 2012 EUR 1.000 Valuta 2013 Letni maksimum v kratki poziciji Letni maksimum v dolgi poziciji 2012 Letni maksimum v kratki poziciji Letni maksimum v dolgi poziciji CHF (2.807) 507 (1.794) 1.141 GBP (145) 243 (946) 232 JPY (495) 189 (301) 302 USD (929) 3.953 (952 13.680 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 133.678 717 343 520 135.258 Finančna sredstva, namenjena trgovanju 15.299 16 78 0 15.394 Finančna sredstva, razpoložljiva za prodajo 251.351 0 0 0 251.352 Izvedeni finančni instrumenti, namenjeni varovanju 7.005 2 0 0 7.008 Krediti 1.650.478 314.230 54.196 5.091 2.023.996 Krediti bankam 55.081 9.150 54.195 5.091 123.517 Krediti strankam 1.592.333 303.140 0 0 1.895.472 Druga finančna sredstva 3.065 1.940 1 0 5.007 Finančna sredstva v posesti do zapadlosti 13.053 0 0 0 13.053 Opredmetena osnovna sredstva 9.164 0 0 0 9.163 Neopredmetena sredstva 19.471 0 0 0 19.472 Dolgoročne naložbe v kapital odvisnih, pridruženih in skupaj obvladovanih družb 0 0 0 0 - Terjatve za davek od dohodkov pravnih oseb 11.866 0 0 0 11.867 Terjatve za davek 1.003 0 0 0 1.004 Odložene terjatve za davek 10.863 0 0 0 10.864 Druga sredstva 1.989 0 4 0 1.993 SKUPAJ SREDSTVA 2.113.355 314.966 54.621 5.611 2.488.555 Finančne obveznosti do centralne banke 253.225 0 0 0 253.226 Finančne obveznosti, namenjene trgovanju 17.125 20 43 0 17.188 Izvedeni finančni instrumenti, namenjeni varovanju 47.215 142 0 0 47.356 Finančne obveznosti, merjene po odplačni vrednosti 1.650.036 164.541 113.193 4.974 1.932.744 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 155.316 130.599 0 0 285.915 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 Obveznosti za davek od dohodkov pravnih oseb 0 0 0 0 - Obveznosti za davek 0 0 0 0 - Odložene obveznosti za davek 0 0 0 0 - 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 107.759 0 0 0 107.760 Presežek iz prevrednotenja (4.467) 1 0 0 (4.465) Rezerve iz dobička (vključno z zadržanim dobičkom) 104.035 0 0 0 104.036 Čisti dobiček poslovnega leta 0 0 0 0 - SKUPAJ KAPITAL 227.711 1 0 0 227.713 SKUPAJ OBVEZNOSTI IN KAPITAL 2.205.637 164.704 113.238 4.974 2.488.555 Bilančne postavke v različnih valutah na dan 31. 12. 2012 EUR 1.000 Vsebina EUR CHF USD Ostalo Skupaj Denar v blagajni in stanje na računih pri centralni banki 26.100 676 365 619 27.760 Finančna sredstva, namenjena trgovanju 44.225 32 171 0 44.428 Finančna sredstva, razpoložljiva za prodajo 314.093 0 0 0 314.093 Izvedeni finančni instrumenti, namenjeni varovanju 14.190 -46 0 0 14.144 Krediti 1.984.010 365.404 12.750 2.467 2.364.631 Krediti bankam 58.447 12.295 12.727 2.467 85.936 Krediti strankam 1.917.682 351.635 0 0 2.269.317 Druga finančna sredstva 7.880 1.474 24 0 9.378 Finančna sredstva v posesti do zapadlosti 12.930 0 0 0 12.930 Opredmetena osnovna sredstva 10.747 0 0 0 10.747 Neopredmetena sredstva 19.236 0 0 0 19.236 Dolgoročne naložbe v kapital odvisnih, pridruženih in skupaj obvladovanih družb 253 0 0 0 253 Terjatve za davek od dohodkov pravnih oseb 6.974 0 0 0 6.974 Terjatve za davek 1.381 0 0 0 1.381 Odložene terjatve za davek 5.593 0 0 0 5.593 Druga sredstva 163 0 8 0 171 SKUPAJ SREDSTVA 2.432.920 366.066 13.294 3.087 2.815.367 Finančne obveznosti do centralne banke 251.823 0 0 0 251.823 Finančne obveznosti, namenjene trgovanju 43.225 230 139 0 43.593 Izvedeni finančni instrumenti, namenjeni varovanju 65.848 179 0 0 66.027 Finančne obveznosti, merjene po odplačni vrednosti 2.001.599 168.482 21.912 4.161 2.196.155 Vloge bank 547.899 29.013 16 5 576.933 Vloge strank 1.195.944 6.139 21.571 4.136 1.227.789 Krediti bank 213.947 132.873 0 0 346.820 Podrejene obveznosti 30.101 0 0 0 30.101 Druge finančne obveznosti 13.708 458 326 20 14.512 Rezervacije 2.443 0 0 0 2.443 Obveznosti za davek od dohodkov pravnih oseb 0 0 0 0 0 Obveznosti za davek 0 0 0 0 0 Odložene obveznosti za davek 0 0 0 0 0 Druge obveznosti 3.699 1 2 1 3.703 SKUPAJ OBVEZNOSTI 2.368.637 168.892 22.053 4.162 2.563.744 Osnovni kapital 20.384 0 0 0 20.384 Kapitalske rezerve 107.760 0 0 0 107.760 Presežek iz prevrednotenja (18.733) (4) 0 0 (18.737) Rezerve iz dobička (vključno z zadržanim dobičkom) 141.679 0 0 0 141.679 Čisti dobiček poslovnega leta 537 0 0 0 537 SKUPAJ KAPITAL 251.627 (4) 0 0 251.623 SKUPAJ OBVEZNOSTI IN KAPITAL 2.620.264 168.887 22.053 4.162 2.815.367 Računovodski izkazi Bančna tveganja 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. Le-te pozicije Banka nemudoma zapre, da ne bi prekoračila vzpostavljene limite. UniCredit Banka Slovenija d.d. uporablja izvedene finančne instrumente tudi za optimizacijo strukture svoje bilance. Za namene upravljanja portfeljev in upravljanja tveganj se pogodbe vrednotijo po trenutnih cenah z uporabo preverjenih in priznanih modelov. Tržne vrednosti izkazujejo vrednosti pogodb na dan priprave bilance, pri čemer pozitivne tržne vrednosti OTC pogodb nakazujejo obseg kreditnega tveganja nasprotne stranke, ki izhaja iz zadevne dejavnosti. Obseg izvedenih finančnih instrumentov na dan 31. 12. 2013 Obseg izvedenih finančnih instrumentov na dan 31. 12. 2012 v 1.000 EUR Znesek pogodbe Trgovalna knjiga Bančna knjiga Vrednotenje (pozitivno) Trgovalna knjiga Bančna knjiga Vrednotenje (negativno) Trgovalna knjiga Bančna knjiga 1. IFI vezani na obrestno mero 917.305 1.684.250 10.580 7.005 9.897 20.457 a) Obrestne opcije 177.103 0 13 0 13 0 b) Eno valutne zamenjave obrestnih mer 740.202 1.684.250 10.567 7.005 9.884 20.457 c) Terminske pogodbe na obrestno mero 0 0 0 0 0 0 d) Standardizirane terminske pogodbe 0 0 0 0 0 0 e) Ostalo 0 0 0 0 0 0 2. Transakcije povezane z vrednostnimi papirji 710 0 38 0 38 0 a) Opcije vezane na lastniške vrednostne papirje 710 0 38 0 38 0 b) Zamenjave vezane na vrednostne papirje 0 0 0 0 0 0 c) Terminske pogodbe vezane na vrednostne papirje 0 0 0 0 0 0 d) Standardizirane terminske pogodbe 0 0 0 0 0 0 e) Ostalo 0 0 0 0 0 0 3. IFI vezani na tujo valuto in zlato 282.342 188.876 4.513 2 7.205 26.899 a) Valutne opcije 1.334 0 11 0 11 0 b) Medvalutne zamenjave obrestnih mer 197.604 188.876 3.004 2 7.063 26.899 c) Terminski posli na tuje valute 83.404 0 1.499 0 132 0 d) Standardizirane terminske pogodbe 0 0 0 0 0 0 e) Ostalo 0 0 0 0 0 0 4. IFI vezani na blago 234 0 51 0 43 0 5. Ostali IFI 0 0 0 0 0 0 Skupaj 1.200.591 1.873.126 15.182 7.008 17.183 47.356 v 1.000 EUR Znesek pogodbe Trgovalna knjiga Bančna knjiga Vrednotenje (pozitivno) Trgovalna knjiga Bančna knjiga Vrednotenje (negativno) Trgovalna knjiga Bančna knjiga 1. IFI vezani na obrestno mero 1.001.312 1.617.247 19.326 13.956 18.537 28.751 a) Obrestne opcije 318.135 0 311 0 311 0 b) Eno valutne zamenjave obrestnih mer 683.177 1.617.247 19.016 13.956 18.227 28.751 c) Terminske pogodbe na obrestno mero 0 0 0 0 0 0 d) Standardizirane terminske pogodbe 0 0 0 0 0 0 e) Ostalo 0 0 0 0 0 0 2. Transakcije povezane z vrednostnimi papirji 746 0 18 0 18 0 a) Opcije vezane na lastniške vrednostne papirje 746 0 18 0 18 0 b) Zamenjave vezane na vrednostne papirje 0 0 0 0 0 0 c) Terminske pogodbe vezane na vrednostne papirje 0 0 0 0 0 0 d) Standardizirane terminske pogodbe 0 0 0 0 0 0 e) Ostalo 0 0 0 0 0 0 3. IFI vezani na tujo valuto in zlato 384.679 212.256 24.777 188 24.896 37.276 a) Valutne opcije 185.789 0 11.876 0 11.876 0 b) Medvalutne zamenjave obrestnih mer 146.582 212.256 12.012 188 12.208 37.276 c) Terminski posli na tuje valute 52.308 0 889 0 812 0 d) Standardizirane terminske pogodbe 0 0 0 0 0 0 e) Ostalo 0 0 0 0 0 0 4. IFI vezani na blago 3.391 0 171 0 139 0 5. Ostali IFI 0 0 0 0 0 0 Skupaj 1.390.128 1.829.503 44.292 14.144 43.590 66.027 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. Računovodski izkazi Bančna tveganja 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 bank, 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 banke. 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. LETNI NAČRT FINANCIRANJA Letni načrt financiranja pripravljamo enkrat letno z namenom ohranjanja primernega ravnovesja med sredstvi in obveznostmi različnih ročnosti. Priprava načrta financiranja temelji na analizi sredstev in obveznosti in njihovega vpliva tako na kratkoročno kot strukturno likvidnost Banke. V tem kontekstu predstavlja letni načrt financiranja zelo pomembno vlogo pri celovitem upravljanju z likvidnostjo Banke. Spremljanje izpolnjevanja letnega načrta financiranja se izvaja kontinuirano v okviru procesa spremljanja gibanja sredstev in obveznosti. POLITIKA UPRAVLJANJA Z LIKVIDNOSTJO V ZAOSTRENIH LIKVIDNOSTNIH RAZMERAH Kljub temu, da je verjetnost nastanka likvidnostne krize tipično nizka, pa zaradi močnega vpliva na poslovanje Banke zahteva poseben pristop pri upravljanju Banke. V primeru likvidnostne krize je ključno, da Banka reagira hitro na novo nastale razmere in na ta način minimizira morebitne negativne krizne učinke. Namen politike upravljanja z likvidnostjo v zaostrenih likvidnostnih razmerah je zagotoviti ustrezen model upravljanja Banke v takšnih situacijah. Eden izmed osnovnih elementov te politike je krizni načrt, ki je sestavljen iz nabora možnih ukrepov, ki so Banki na voljo v primeru nastopa likvidnostne krize. Vsak ukrep tipično vključuje opis instrumenta zagotavljanja likvidnosti, z oceno velikosti učinka na likvidnost ter predstavitvijo časovnice učinkovanja. OCENA LIKVIDNOSTNEGA POLOŽAJA OB KONCU LETA Kljub težki situaciji na globalnem in lokalnem trgu je Banka skozi celotno leto 2013 vzdrževala ustrezen likvidnostni profil. Pomemben vir financiranja ostaja likvidnostni center pri UniCredit Bank Austria AG, Dunaj, kjer se Banka refinancira po tržnih pogojih. Banka upravlja z neusklajenostjo zapadlosti sredstev in obveznosti tako, da ima oblikovano zadostno likvidnostno rezervo v obliki vrednostnih papirjev in kreditov, ki sodijo med primerno finančno premoženje po merilih ECB. 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 centralni banki 135.260 95.258 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 2.196.717 110.272 131.466 71.989 313.218 800.347 769.425 Krediti bankam 123.538 110.272 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 Dolgoročne naložbe v kapital odvisnih, pridruženih in skupaj obvladovanih družb 0 0 0 0 0 0 0 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 do centralne banke 253.957 0 0 0 0 253.957 0 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 1.946.048 593.308 360.563 170.437 235.766 411.742 174.232 Vloge 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 286.673 0 27 344 8.702 269.877 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 Presežek iz prevrednotenja (4.465) 0 0 0 0 0 (4.465) Rezerve iz dobička 143.235 0 0 0 0 0 143.235 Zadržani dobiček / izguba (vključno s čistim dobičkom / izgubo poslovnega leta) (39.199) 0 0 0 0 0 (39.199) 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 prikazane nediskontirane postavke izkaza finančnega položaja Banke. Računovodski izkazi Bančna tveganja Bilanca stanja po zapadlosti na dan 31. 12. 2012 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 centralni banki 27.760 27.760 0 0 0 0 0 Finančna sredstva, namenjena trgovanju 44.436 0 1.002 1.248 5.113 35.347 1.726 Finančna sredstva, razpoložljiva za prodajo 350.821 0 8.821 25.391 12.047 188.463 116.099 Izvedeni finančni instrumenti, namenjeni varovanju 14.144 0 723 2 1.654 4.118 7.647 Krediti 2.551.723 74.934 148.449 90.062 513.566 874.296 850.416 Krediti bankam 85.968 74.934 4.884 525 1.377 4.248 0 Krediti strankam, ki niso banke 2.456.377 0 134.228 89.537 512.179 870.017 850.416 Druga finančna sredstva 9.378 0 9.337 0 10 31 0 Finančna sredstva v posesti do zapadlosti 15.143 0 0 520 0 7.750 6.873 Opredmetena osnovna sredstva 10.747 0 0 0 0 0 10.747 Neopredmetena dolgoročna sredstva 19.236 0 0 0 0 0 19.236 Dolgoročne naložbe v kapital odvisnih, pridruženih in skupaj obvladovanih družb 253 0 0 0 0 0 253 Terjatve za davek od dohodkov pravnih oseb 6.974 0 0 0 1.381 5.593 0 Terjatve za davek 1.381 0 0 0 1.381 0 0 Odložene terjatve za davek 5.593 0 0 0 0 5.593 0 Druga sredstva 171 0 80 18 44 2 27 Skupaj sredstva (1) 3.041.408 102.694 159.075 117.241 533.805 1.115.569 1.013.024 Finančne obveznosti do centralne banke 255.917 0 0 0 0 255.917 0 Finančne obveznosti, namenjene trgovanju 43.593 0 841 1.182 5.147 34.704 1.719 Izvedeni finančni instrumenti, namenjeni varovanju 66.027 0 0 37 5.189 30.862 29.939 Finančne obveznosti, merjene po odplačni vrednosti 2.211.066 671.525 134.077 287.564 423.910 509.676 184.314 Vloge bank 578.819 1.782 60.870 33.149 221.937 128.224 132.857 Vloge strank, ki niso banke 1.239.768 669.743 61.538 253.219 190.692 62.269 2.307 Krediti bank 347.819 0 30 474 8.982 319.183 19.150 Podrejene obveznosti 30.148 0 148 0 0 0 30.000 Druge finančne obveznosti 14.512 0 11.491 722 2.299 0 0 Rezervacije 2.443 0 356 10 442 1.577 58 Druge obveznosti 3.703 0 53 85 1.447 1.412 706 Osnovni kapital 20.384 0 0 0 0 0 20.384 Kapitalske rezerve 107.760 0 0 0 0 0 107.760 Presežek iz prevrednotenja (18.737) 0 0 0 0 0 (18.737) Rezerve iz dobička 141.679 0 0 0 0 0 141.679 Zadržani dobiček / izguba (vključno s čistim dobičkom / izgubo poslovnega leta) 537 0 0 0 0 0 537 Skupaj obveznosti in kapital (2) 2.834.372 671.525 135.327 288.878 436.135 834.148 468.359 Neusklajenost (1)-(2) 207.036 (568.831) 23.748 (171.637) 97.670 281.421 544.665 Opomba: V tabeli so prikazani nediskontirane postavke izkaza finančnega položaja Banke. Računovodski izkazi Bančna tveganja znotraj Banke. Na osnovi poročil o operativnem tveganju 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. Vsako leto Bank Austria AG organizira forum za operativna tveganja s skupnim ciljem predstavitve vseh pomembnih aktualnih dogajanj in novosti na področju upravljanja z operativnimi tveganji na ravni celotne skupine UniCredit. Uprava je redno obveščena o zadevah, ki se nanašajo na operativno tveganje, o primerih operativnega tveganja, spremembah operativnega tveganja kot tudi o relevantnih kršitvah politik. 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. 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 pomagali pri: • širitvi zavedanja o operativnem tveganju na vseh ravneh v Banki, • pridobivanju izkušenj pri samem pojmovanju operativnega tveganja in orodjih, • poglobljenem razumevanju o vključenosti/povezanosti različnih tveganj v poslovni proces. Aktivnosti identifikacije, beleženja, zbiranja, potrjevanja in poročanja škodnih dogodkov so organizirane decentralizirano, na ravni posamezne divizije, znotraj posameznega oddelka ali skupine znotraj oddelka. 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 škodnih dogodkov: • 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 Delež neto izgub iz operativnega tveganja po kategorijah tveganja v letu 2013 tveganja v letu 2012 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 ter v bančnem sektorju, 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. Izvedba, dostava in upravljanje procesov 14,4 % Poslovne motnje in izpadi sistemov Izvedba, dostava in Škoda na premičnem in 90,7 % Računovodski izkazi Bančna tveganja 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. Pravno tveganje in tveganje skladnosti poslovanja s predpisi sta tveganji nastanka škode zaradi kršitve ali neusklajenosti z zakoni, podzakonskimi akti, pravili, predpisi, dogovori, dobro bančno prakso ali etičnimi normami. Banka je izpostavljena pravnemu metodološkemu tveganju, ki predstavlja tveganje nastanka izgube zaradi sprejetih metod, s katerimi želimo zavarovati premoženje Banke pred zahtevki drugih ali zavarovati Banko pred obveznostjo plačati škodo ali povračila drugim, pri tem pa se izkaže, da izbrane metode niso zadostne oziroma ustrezne. Dodatno je Banka izpostavljena tudi operativnemu pravnemu tveganju, ki nastane v teku sklepanja bančnih poslov, v okviru katerega si Banka naloži obveznosti, ki niso bile predvidene oz. so večje od predvidenih, ali se izkaže, da so bile terjatve oz. pravice manjše ali izkazane v nižji vrednosti, kot je bilo pričakovano v času sklepanja poslov. Banka je izpostavljena tudi tveganju neskladnosti, ki je tveganje zakonskih sankcij, ukrepov nadzornih organov, finančnih izgub ali izgube ugleda, ki jih lahko Banka utrpi zaradi nenamernega ali namernega neskladnega ravnanja z zakoni, zunanjimi in notranjimi predpisi, standardi in kodeksi. 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 in ponavljajoče preglede področij, kjer je bilo ugotovljeno oz. je prisotno tovrstno tveganje, določitev 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 majhno število pravnih postopkov/sporov, ki so še v teku. 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 dohodkov in stroškov brez upoštevanja izrednih postavk. Spremembe obsega poslovanja so rezultat nepričakovanega razvoja tržnih gibanj, nepričakovanega vedenja strank ali novih tržnih udeležencev/produktov. 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 redno spremlja vpliv spremembe cen delnic v bančni knjigi. Če bi tržna vrednost delnice družbe Mercator d.d. (kot največje kapitalske naložbe Banke) padla za 10 evrov, bi se rezultat Banke pred obdavčitvijo znižal za 3.014 tisoč evrov. Tveganja na področju nepremičnin UniCredit Banka Slovenija d.d. ne vlaga v nepremičnine, zato temu tveganju ni izpostavljena. Informacija v zvezi s tretjim stebrom (Pillar 3) V skladu s pravno ureditvijo glede tretjega stebra (Pillar 3) in dejstvom, da je UniCredit Banka Slovenija d.d. konsolidirana v skupino UniCredit, je Banka dolžna razkriti informacije o upravljanju s kapitalom, o razpoložljivem kapitalu in kapitalski zahtevi za različne kategorije tveganja. 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 ponudba kapitala 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 ponudbe kapitala ter da se ponudba kapitala (na katero vplivajo zlasti načrtovane transakcije s kapitalom in pričakovani dobički) ohrani na določeni ravni, ki omogoča Banki kritje izračunanih 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 99,93 %. Celotno odgovornost za prepoznavanje tveganj in ocene stopnje tveganj prevzema ALCO. Poleg ekonomskega vidika mora Banka izpolnjevati tudi pravne predpise določene z Basel II sporazumom in slovensko zakonodajo. Regulatorni kapital za kreditno, tržno in operativno tveganje mora ustrezati kapitalski zahtevi, medtem ko bilančni kapital (temeljni kapital, dodatni kapital 1 in dodatni kapital 2) predstavlja dejanski kapital Banke. 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. Naslednja tabela predstavlja kratek pregled sestave regulatornega kapitala in stopnjo kapitalske ustreznosti ob koncu leta 2013 in 2012. Količnik kapitalske ustreznosti je narasel iz 13,45 % ob koncu leta 2012 na 16,92 % ob koncu leta 2013. Tier 1 količnik kapitalske ustreznosti pa je narasel iz 12,22 % ob koncu leta 2012 na 15,55 % ob koncu leta 2013. Banka je skozi celotno opazovano obdobje izpolnjevala predpisane kapitalske zahteve s strani regulatorja in hkrati povečala varnost poslovanja. V letu 2013 je bila Banka vključena v neodvisen pregled kakovosti sredstev (t.i. »Asset Quality Review« – AQR) ter izvedbo stresnega testa s strani Banke Slovenije. Rezultati strestnih testov za Banko so na kratko komentirani v poslovnem delu letnega poročila. Povzetek rezultatov in metodologija so javno objavljeni na spletni strani Banke Slovenije. Računovodski izkazi Bančna tveganja Izračun kapitala in kapitalske zahteve EUR 1.000 Oznaka Postavka 31. 12. 2013 31. 12. 2012 1 SKUPAJ KAPITAL (za namen kapitalske ustreznosti) 222.884 259.893 1.1 TEMELJNI KAPITAL 212.708 242.615 1.1.1.1 Vplačani osnovni kapital 20.384 20.384 1.1.1.3 Kapitalske rezerve 107.760 107.760 1.1.2.1 Rezerve in zadržani dobiček ali izguba 104.036 141.679 1.1.2.6 Presežki iz prevrednotenja (PP) - bonitetni filtri 0 (7.972) 1.1.5 (-) Ostale odbitne postavke temeljnega kapitala (19.472) (19.236) 1.1.5.1 (-) Neopredmetena dolgoročna sredstva (19.472) (19.236) 1.1.5.4 (-) Druge deželno specifične odbitne postavke 0 0 1.2 DODATNI KAPITAL I 26.000 30.000 1.2.2.3 Podrejeni dolg I 26.000 30.000 1.3 (-) ODBITNE POSTAVKE OD TEMELJNEGA IN DODATNEGA KAPITALA I (15.824) (12.722) 1.3.8 (-) Primanjkljaj oslabitev in rezervacij po pristopu IRB ter pričakovana izguba iz naslova lastniških instrumentov po pristopu IRB (15.824) (12.722) 1.4 SKUPAJ TEMELJNI KAPITAL (za namen kapitalske ustreznosti) 204.796 236.254 1.5 SKUPAJ DODATNI KAPITAL I (za namen kapitalske ustreznosti) 18.088 23.639 2 KAPITALSKE ZAHTEVE 105.361 154.613 2.1 VSOTA KAPITALSKIH ZAHTEV ZA KREDITNO TVEGANJE, TVEGANJE NASPROTNE STRANKE IN TVEGANJE ZARADI ČASOVNE NEUSKLAJENOSTI PLAČILA IN IZROČITVE 93.919 144.056 2.1.1 Standardizirani pristop (SA) 51.830 59.685 2.1.1.1a SA kategorije izpostavljenosti brez pozicij listinjenja 0 0 2.1.1.1b IRB kategorije izpostavljenosti brez pozicij listinjenja 51.830 59.685 2.1.1.1b.01 Enote centralne ravni države in centralne banke 505 253 2.1.1.1b.02 Institucije 3.378 3.211 2.1.1.1b.03 Podjetja 6.134 8.951 2.1.1.1b.04 Bančništvo na drobno 39.942 45.628 2.1.1.1b.06 Druga sredstva iz naslova nekreditnih obveznosti 1.871 1.642 2.1.2 Pristop na podlagi notranjih bonitetnih sistemov (IRB) 42.089 84.371 2.1.2.1 Nadzorniško določene ocene LGD (in CF) 42.064 75.540 2.1.2.1.02 Institucije 3.022 4.447 2.1.2.1.03 Podjetja 39.042 71.093 2.1.2.3 Kategorija izpostavljenosti iz naslova lastniških instrumentov 25 8.831 2.2 TVEGANJE PORAVNAVE 0 0 2.3 VSOTA KAPITALSKIH ZAHTEV ZA POZICIJSKO TVEGANJE, VALUTNO TVEGANJE IN TVEGANJE SPREMEMB CEN BLAGA 41 155 2.4 KAPITALSKA ZAHTEVA ZA OPERATIVNO TVEGANJE 11.401 10.402 2.4.3 Napredni pristop 11.401 10.402 2.6 DRUGE IN PREHODNE KAPITALSKE ZAHTEVE 0 0 3.2 Presežek (+) / primanjkljaj (-) kapitala 117.523 105.280 3.2.a Količnik kapitalske ustreznosti (%) 16,92 % 13,45 % Tier 1 količnik kapitalske ustreznosti (%) 15,55 % 12,22 % Predsednik uprave Član uprave Članica uprave Član uprave Finančni direktor Odzivnost Z nasmehom in z željo pomagati. “Ena izmed mojih strank se je ravno poročila in se je odpravljala na poročno potovanje, ko me je vsa panična poklicala. Njeno kreditno kartico so klonirali (ponaredili). Takoj sem uredila vse potrebno, da bi stranka dobila novo kreditno kartico, vendar tudi po nekaj dneh kartica še ni prispela do nje. Bila sem zaskrbljena, vendar stranke nisem želela obremenjevati s tem. Še naprej sem raziskovala in ugotovila, da je bila pošta poslana na napačen naslov. Pošiljko sem uspela najti in poštar jo je pravočasno dostavil na pravi naslov. Poklicala sem stranko, ki je bila navdušena, saj se je lahko prepustila uživanju na poročnem potovanju!” Rita Pattuelli – Privatno bančništvo Bologna Centro - UniCredit SpA This report expresses UniCredit’s approach to banking by telling everyday stories about our interactions with customers, innovations in products and adaptability in services. These brief but meaningful stories come directly from our colleagues. They are examples of the tangible benefits and concrete solutions offered by UniCredit, demonstrating how we make a difference in people’s lives. Our clear goal to improve everyday circumstances is rooted in our complete commitment to outcomes that ensure customer satisfaction. At UniCredit, listening to our clients and engaging with them to offer simple, direct results lies at the heart of our commercial banking operations. It is part of our determined effort to contribute to the economic and social well-being of our customers as well as the communities where we work. We will continue with this commitment to all of you, every day. Translation of 2013 Annual Report Introduction 2013 2012 2011 Statement of Financial Position (EUR ’000) Volume of assets 2,488,557 2,815,367 2,945,636 Deposits, customers 1,276,833 1,227,789 957,016 Deposits, legal and other entities 784,478 784,264 601,181 Deposits, private customers 492,355 443,525 355,835 Loans, customers 1,895,472 2,269,317 2,356,239 Loans, legal and other entities 1,137,984 1,495,493 1,539,200 Loans, private customers 757,488 773,824 817,039 Equity 227,715 251,623 240,888 Impairment of assets, measured at amortised cost 170,431 113,405 85,479 Provisions 6,137 2,443 1,553 Off-balance sheet items 3,685,267 3,844,597 4,574,606 Statement of Income (EUR ’000) Net interest income 48,389 55,970 59,916 Net non-interest income 23,842 21,306 22,998 Staff costs (22,640) (23,928) (22,756) Other administrative costs (12,337) (12,908) (13,591) Depreciation (5,052) (4,586) (5,239) Impairment and provisions (79,595) (35,544) (23,327) Net income before taxes (47,393) 310 18,001 Corporate income tax 8,194 763 (3,260) Statement of Other Comprehensive Income (EUR ’000) Other compehensive income before tax 17,196 12,924 (26,128) Income tax on other comprehensive income (2,924) (3,262) 5,226 Employees Number of employees on 31 December 576 601 609 Shares Number of shareholders 26 27 26 Nominal value (EUR) 4,17 4,17 4,17 Book value (EUR) 46,58 51,48 49,28 Number of shares 4,888,193 4,888,193 4,888,193 Equity Capital adequacy 16.9 % 13.5 % 11.0 % Assets Quality and Commitments Impairment of assets measured at amortised cost and provision / Sorted assets and sorted off-balance sheet positions 5.9 % 3,6 % 2.7 % Profitability Interest margin 1.8 % 1.9 % 2.0 % Margin of financial brokerage 2.6 % 2.6 % 2.8 % Return on assets before taxes (1.7 %) 0.0 % 0.6 % Return on equity before taxes (19.3 %) 0.1 % 7.9 % Return on equity after taxes (15.9 %) 0.4 % 6.4 % Operating costs Operating costs / average assets volume 1.5 % 1.4 % 1.4 % Liquidity Liquid assets / short-term deposits non-banks measured at amortised cost 34.7 % 29.9 % 37.2 % Liquid assets / average assets 14.5 % 9.1 % 8.6 % 119 Introduction Organisational Structure SUPERVISORY BOARD Legend: Choose The best ways to bank. Customers want everything a modern bank can offer, without actually having to go to a branch. To meet this need, we have become the first bank in Germany to integrate the benefits of in-branch and online banking. The online branch offers our Customers a personal relationship manager, long opening hours and the consulting expertise of a classical branch office. customers may choose from different modes of access: by phone or via online video link. Documents may be presented and processed live on screen while using the highest safety standards in place. The online branch provides personal, competent consultancy irrespective of place and time. HVB Online Branch - HypoVereinsbank - Germany Facilitate Finding solutions to make everything easier. “Due to an internal bug, one of my Customers received funds to pay staff salaries two days late. I did everything I could to find a solution. I asked my colleagues for help, and together we came up with a response: we compensated for the two lost days in their wages the next month. The Customer called to thank me for solving the issue quickly. We showed that our bank is easy to deal with.” Peter Tschöp - Financial Institutions Group - CIB Global Division UniCredit Bank austria – Accelerate response times and problem solving. Sometimes our Customers may encounter some difficulty, either at a branch or when banking online. These difficulties require quick solutions. To help our Customers quickly, we offer them a questionnaire after every banking transaction. If they tell us they are not satisfied with the quality of a product or service, their branch manager contacts them directly within 48 hours, with a solution. In a six-month period, 15 percent of our customers filled out the questionnaires, with 87 percent saying they were satisfied with our resolution of their issue. Customer Sactisfation Unit - UniCredit Bank - rUSSIa 142 UniCredit is a market leader in Central and Eastern Europe with has a broad network of roughly 3,600 branches in the region.* Its regional footprint is diverse, and include a direct presence in 14 countries. It is ranked in the top five in 10 of these counties*. In fact the CEE now accounts for 28 percent of the Group ‘s revenues.** Across the newer EU states, economic performance is expected to continue improve. A recovery was already visible over much of 2013. In part this improvement captures a stronger external environment, supporting industry and exports as EMU continues to use much of the region as a competitive production base. Over 2014 this recovery should extend more visibly into domestic demand. Following a multi year period of fiscal consolidation, the drag to growth on this front should be much more muted going forward while some countries will enjoy a positive impulse. Public debt ratios remain considerably below the average for advanced economies. In many cases labour markets have stabilized. Monetary policy is also exceptionally accommodative across the region while rate hikes are likely to materialize only gradually. Progress on banking union should also bring positive spillovers to the newer EU states while in many countries we see credit proving more supportive of domestic demand. In many of the newer EU states we expect GDP growth of above 2 % this year. Market share2 (%) Russia 1.5 Ukraine3 (UCI UA + USB) 3.4Hungary 6.0***Slovenia 6.1Slovakia 6.4Czech Republic 6.8Romania 6.9***Serbia 8.7Turkey 9.2Poland 10.6 Bulgaria 15.0Bosnia and Herzegovina 21.6**Croatia 26.5 * as of September 30 2013. ** as June 30 2013. *** as December 31st 2012. 2. Market Share in terms of Total Assets as 30 September 2013. Market share in Azerbaijan not available. 3. Pro-forma (Ukrsotsbank + UniCredit Bank Ukraine). Source: UniCredit Research, UniCredit CEE Strategic Analysis. Within Turkey and Russia the near term challenges are greater. Following a multi year period of strong growth, momentum will slow this year in Turkey. Political uncertainty plays a role. A slowdown in foreign capital inflows, prompted in part by Fed tapering, is also having an impact. In contrast, stronger industry and export performance brings benefits, as is the case in the newer EU states. Russia continues to adjust to stable rather than consistently increasing energy prices. This adjustment is aided by increased currency flexibility, a large stock of foreign reserves and improvements in the inflation-targeting regime. Within this environment, real GDP growth over the coming 1-2 years will be more muted than in the past but remain positive. From a medium- to long - term perspective, we believe that the majority of Central and Eastern Europe economies will continue to see an increase in living standards as growth is supported by competitive labor costs, flexible labor markets and a gradual recovery in foreign direct investment. – – Understand Customer needs and quick responses. “I received a call from a new customer who told me his company’s employees were having trouble withdrawing money from ATM machines. I wanted to solve the problem as quickly as possible, so I went that evening to check in person. I found that the ATM was only allowing customers to insert cards one way. I helped a customer who was having trouble withdrawing cash. But I knew that our ATMs were supposed to allow customers to insert cards in either direction, so I immediately called the ATM company to resolve the issue. By quickly responding to a client’s problem, everyone was helped.” Sergey Chekhonadskikh - ZaO UniCredit Bank ekaterinburg - rUSSIa – Support Flexibility to meet Customer needs. “As the result of a discussion among different sections of the Risk Division, we realized that it is important to tailor communications according to the needs of each Customer. We worked together as a team, sharing our research and knowledge. This ultimately led to more flexible reports and made us more responsive and proactive, improving the skills and cohesion of all internal departments.” Francesco Ivan Pomarico Group Financial risk - UniCredit Holding 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 206 Statement of Financial position EUR ’000 Item Note 31/12/2013 31/12/2012 Cash and cash balances with the Central Bank 1 135,258 27,760 Financial assets held for trading 2 15,394 44,428 Available-for-sale financial assets 3 251,352 314,093 Derivatives - hedge accounting 4 7,008 14,144 Loans and receivables 5 2,023,996 2,364,631 To banks 123,517 85,936 To customers 1,895,472 2,269,317 Other financial assets 5,007 9,378 Held-to-maturity financial assets 6 13,053 12,930 Property, plant and equipment 7 9,163 10,747 Intangible assets 8 19,472 19,236 Investments in subsidiaries, associates and joint ventures 9 - 253 Tax assets 10 11,868 6,974 Current tax assets 1,004 1,381 Deferred tax assets 10,864 5,593 Other assets 11 1,993 171 TOTAL ASSETS 2,488,557 2,815,367 Liabilities to central banks 12 253,226 251,823 Financial liabilities held for trading 13 17,188 43,593 Derivatives - hedge accounting 14 47,356 66,027 Financial liabilities measured at amortised cost 15 1,932,744 2,196,155 Deposits from banks 323,731 576,933 Deposits from customers 1,276,833 1,227,789 Loans from banks 285,915 346,820 Subordinated liabilities 30,117 30,101 Other financial liabilities 16,148 14,512 Provisions 16 6,137 2,443 Other liabilities 17 4,191 3,703 TOTAL LIABILITIES 2,260,842 2,563,744 Share capital 18 20,384 20,384 Share premium 19 107,760 107,760 Fair value reserves 20 (4,465) (18,737) Retained earnings 21 104,036 141,679 Net profit / loss for the year 22 - 537 TOTAL EQUITY 227,715 251,623 TOTAL LIABILITIES AND EQUITY 2,488,557 2,815,367 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 2013 2012 Interest income 23 90,255 107,637 Interest expense 24 (41,866) (51,667) Interest net income 48,389 55,970 Dividend income 25 5 1,824 Fee and commission income 26 28,652 26,477 Fee and commission expenses 27 (5,198) (4,783) Fee and commission net income 23,454 21,694 Realised gains and losses on financial assets and liabilities not measured at fair value through profit or loss 28 (130) (3,963) Gains and losses on financial assets and liabilities held for trading 29 (694) 1,560 Fair value adjustments in hedge accounting 30 2,570 45 Exchange gains / (losses) 31 (523) (39) Gains and losses on derecognition of assets other than held for sale 32 (95) (116) Other operating net income / (loss) 33 (721) 302 Administrative costs 34 (34,977) (36,836) Depreciation 35 (5,052) (4,586) Provisions 36 (3,948) (917) Impairments 37 (75,647) (34,627) Profit or loss from non-current assets held for sale 38 (24) (1) PROFIT / LOSS BEFORE TAX (47,393) 310 Corporate income tax 39 8,194 763 NET PROFIT / LOSS FOR THE FINANCIAL YEAR (39,199) 1,073 Basic and diluted earning per share (EUR) 22 (8.02) 0.22 Statement of Other Comprehensive Income EUR ’000 Item Note 2013 2012 Net profit or loss for the financial year after tax (39,199) 1,073 Other compehensive income after tax 20 14,272 9,662 Items that will not be reclassified to profit or loss 188 - Actuarial gains (losses) on defined benefit pension plans 227 - Income tax relating to items that will not be reclassified (39) - Items that may be reclassified to profit or loss 14,084 9,662 Cash flow hedges (effective portion) 20 3,200 (2,298) Valuation gains (losses) taken to equity 3,200 (2,298) Available-for-sale financial assets 20 13,769 15,222 Valuation gains (losses) taken to equity (5,765) 5,861 Transferred to profit or loss 19,534 9,361 Income tax relating to components of other comprehensive income 20 (2,885) (3,262) TOTAL COMPREHENSIVE INCOME FOR THE YEAR AFTER TAX (24,927) 10,735 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 (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 - - --- 537 (537) - Other (merger UniCredit CAIB Slovenija, d.o.o.) - - --- 1,019 - 1,019 CLOSING BALANCE FOR THE REPORTING PERIOD 20,384 107,760 (9,006) 4,353 188 143,235 (39,199) 227,715 BALANCE SHEET AVAILABLE - - PROFIT FOR FINANCIAL YEAR 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 (9,402) (18,997) - 133,773 7,370 240,888 Total comprehensive income for the year, net of income tax - - (2,260) 11,922 - - 1,073 10,735 Transfer of net profit to retained earnings - - --- 7,906 (7,906) - CLOSING BALANCE FOR THE REPORTING PERIOD 20,384 107,760 (11,662) (7,075) - 141,679 537 251,623 BALANCE SHEET AVAILABLE PROFIT FOR FINANCIAL YEAR 537 537 The notes form an integral part of the financial statements. Mag. Stefan Vavti Francesco Vercesi, MBA Mag. Jana Benčina Henigman Damijan Dolinar, CFA 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 2013 2012 A. CASH FLOWS FROM OPERATING ACTIVITIES a) Total profit or loss before tax (47,393) 310 Depreciation 5,052 4,586 Impairments / (reversal of impairments) of financial assets available-for-sale 19,534 9,361 Impairments / (reversal of impairments) of loans and receivables 56,113 25,266 Impairments of tangible assets, investment property, intangible fixed assets and other assets 38 - Net (gains) / losses from exchange differences 523 39 Net (gains) / losses from financial assets held to maturity (643) (239) Net (gains) / losses from sale of tangible assets and investment properties (5) 107 Other (gains) / losses from financing activities 3,073 3,673 Other adjustments to total profit or loss before tax 1,284 752 Cash flow from operating activities before changes in operating assets and liabilities 37,576 43,855 b) (Increases) / decreases in operating assets (excl. cash and cash equivalents) 243,278 64,909 Net (increase) / decrease in financial assets held for trading 93 718 Net (increase) / decrease in financial assets available for sale (81,660) 296 Net (increase) / decrease in loans and receivables 319,533 71,231 Net (increase) / decrease in assets-derivatives - hedge accounting 7,135 (7,278) Net (increase) / decrease in other assets (1,823) (58) c) (Increases) / decreases in operating liabilities (263,521) (118,418) Net increase / (decrease) in financial liabilities to central bank 1,403 251,823 Net (increase) / decrease in financial liabilities held for trading (436) 33 Net increase / (decrease) in deposits, loans and receivables measured at amortised cost (255,292) (371,349) Net (increase) / decrease in liability-derivatives - hedge accounting (9,685) 1,637 Net increase / (decrease) in other liabilities 489 (562) d) Cash flow from operating activities (a+b+c) 17,333 (9,654) e) Income taxes (paid) refunded 290 (2,802) f) Net cash flow from operating activities (d+e) 17,623 (12,456) B. CASH FLOWS FROM INVESTING ACTIVITIES a) Receipts from investing activities 553 19,772 Receipts from the sale of tangible assets and investment properties 33 28 Receipts from the sale of financial assets held to maturity - 19,744 Other receipts from investing activities 520 - b) Cash payments on investing activities (3,769) (17,377) (Cash payments to acquire tangible assets and investment properties) (612) (409) (Cash payments to acquire intangible assets) (3,157) (4,247) (Cash payment for the investment in subsidiaries, associates and joint ventures) - (253) (Cash payments to acquire held-to-maturity investments) - (12,468) c) Net cash flow from investing activities (a-b) (3,216) 2,395 C. Effects of change in exchange rates on cash and cash equivalents (3,431) (653) D. Net increase in cash and cash equivalents (Af+Bc) 14,407 (10,061) E. Opening balance of cash and cash equivalents (Note 40) 243,545 254,259 F. Closing balance of cash and cash equivalents (C+D+E) (Note 40) 254,521 243,545 The notes form an integral part of the financial statements. Mag. Stefan Vavti Francesco Vercesi, MBA Mag. Jana Benčina Henigman Damijan Dolinar, CFA Yilmaz Arisoy, MBA 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 2013, the Bank was operating a total of 29 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 Rome, A. Specchi, 16, 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 (Official Gazette of the Republic of Slovenia, No. 131/06; 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; • 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 4 February 2014. 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 (IFRS) and interpretations approved by the International Accounting Standards Board (IASB) as adopted by the European Union. 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 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 Financial Statements Summary of Accounting policies 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. In 2013, the Bank began to incorporate in calculation of fair value of derivatives also credit risk of a particular counterparty. As a consequence, claims are lowered for credit value adjustment (CVA) and liabilities in line with the IFRS 13, which shall be applied for annual periods beginning on or after 1 January 2013 for debt value adjustment (DVA). 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 individulas 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. Furtter details can be found in the Risk report. CHANGES IN ACCOUNTING POLICIES In 2013, the Bank did not change its accounting policies except those, which are the consequence of new or amended standards. NEW AND AMENDED STANDARDS IN 2013 The following standards, amendments to the existing standards and interpretations issued by the International Accounting Standards Board (IASB) and adopted by the EU are effective for the current period: • IFRS 13 “Fair Value Measurement”, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2013), • Amendments to IFRS 1 “First-time Adoption of IFRS” – Severe Hyperinflation and Removal of Fixed Dates for First-time Adopters, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2013), • Amendments to IFRS 1 “First-time Adoption of IFRS” – Government Loans, adopted by the EU on 4 March 2013 (effective for annual periods beginning on or after 1 January 2013), • Amendments to IFRS 7 “Financial Instruments: Disclosures” – Offsetting Financial Assets and Financial Liabilities, adopted by the EU on 13 December 2012 (effective for annual periods beginning on or after 1 January 2013), • Amendments to IAS 1 “Presentation of financial statements” – Presentation of Items of Other Comprehensive Income, adopted by the EU on 5 June 2012 (effective for annual periods beginning on or after 1 July 2012), • Amendments to IAS 12 “Income Taxes” – Deferred Tax: Recovery of Underlying Assets, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2013), • Amendments to IAS 19 “Employee Benefits” – Improvements to the Accounting for Post-employment Benefits, adopted by the EU on 5 June 2012 (effective for annual periods beginning on or after 1 January 2013), • Amendments to various standards “Improvements to IFRSs (cycle 2009-2011)” resulting from the annual improvement project of IFRS (IFRS 1, IAS 1, IAS 16, IAS 32, IAS 34) primarily with a view to removing inconsistencies and clarifying wording, adopted by the EU on 27 March 2013 (amendments are to be applied for annual periods beginning on or after 1 January 2013), • IFRIC 20 “Stripping Costs in the Production Phase of a Surface Mine”, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2013). IFRS 13 “Fair Value Measurement” resulted in amended fair value of liabilities arising from derivatives. The effects are disclosed in Notes 13, 14, 29 and 30. In line with amendments to IAS 19 “Employee Benefits”, the Bank began to recognize Actuarial gains (losses) on defined benefit pension plans in the Statement of Comprehensive Income instead, not in the Statement of Income any more. The effects are disclosed in Note 20. The adoption of other amendments to the existing standards has not led to any changes in the Bank’s accounting policies. NEW STANDARDS AND INTERPRETATIONS NOT YET ADOPTED As of the date of authorisation of these financial statements the following standards, amendments to the existing standards and interpretations issued by the IASB and adopted by the EU were in issue but not yet effective: • IFRS 10 “Consolidated Financial Statements”, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2014), • IFRS 11 “Joint Arrangements”, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2014), • IFRS 12 “Disclosures of Interests in Other Entities”, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2014), • IAS 27 (revised in 2011) “Separate Financial Statements”, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2014), • IAS 28 (revised in 2011) “Investments in Associates and Joint Ventures”, adopted by the EU on 11 December 2012 (effective for annual periods beginning on or after 1 January 2014), • Amendments to IFRS 10 “Consolidated Financial Statements”, IFRS 11 “Joint Arrangements” and IFRS 12 “Disclosures of Interests in Other Entities” – Transition Guidance, adopted by the EU on 4 April 2013 (effective for annual periods beginning on or after 1 January 2014), • Amendments to IFRS 10 “Consolidated Financial Statements”, IFRS 12 “Disclosures of Interests in Other Entities” and IAS 27 (revised in 2011) “Separate Financial Statements” – Investment Entities, adopted by the EU on 20 November 2013 (effective for annual periods beginning on or after 1 January 2014), • Amendments to IAS 32 “Financial instruments: presentation” – Offsetting Financial Assets and Financial Liabilities, adopted by the EU on 13 December 2012 (effective for annual periods beginning on or after 1 January 2014) • Amendments to IAS 36 “Impairment of assets” - Recoverable Amount Disclosures for Non-Financial Assets, adopted by the EU on 19 December 2013 (effective for annual periods beginning on or after 1 January 2014), • Amendments to IAS 39 “Financial Instruments: Recognition and Measurement” – Novation of Derivatives and Continuation of Hedge Accounting, adopted by the EU on 19 December 2013 (effective for annual periods beginning on or after 1 January 2014). The Bank anticipates that the adoption of these standards, amendments to the existing standards and interpretations will have no material impact on the financial statements of the Bank in the period of initial application. FOREIGN CURRENCY TRANSLATION Functional and presentation currency: Items included in the financial statements for both years, 2013 and 2012, are measured in euros, which is the Bank’s functional and presentation currency. Transactions and balances: Foreign currency transactions are translated into the functional currency using the European Central Bank exchange rates at the dates of transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the Statement of Income except when deferred in equity as qualifying cash flow hedges and available-for-sale investments. 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 as of 1 January 2013 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 currency derivatives is their market price in the front-end system Wall Street, fair value of interest derivatives is market price in the front-end system OPUS. Fair value of equity and commodity derivatives is provided by Bayerische Hypo- und Vereinsbank AG, Munich. HEDGING INSTRUMENTS a) Fair Value Hedge In the year 2013, 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. Changes in fair value are separated into an effective portion attributable to the hedge and an ineffective portion not attributable to the hedge. A hedge is considered as effective if, for each time bucket, the netted cash flows associated with the hedging instruments are in range 80 % to 125 % to the cash flows of the hedged item(s). The effective portions are recognized directly in equity (Fair value reserves, Cash flow hedge). The ineffective portion of the gain or loss on the hedging instrument is recognized in the Statement of Income. In order to avoid ineffectiveness, projections are made, especially for limits and potential causes of ineffectiveness. The Market Risk department runs an efficiency test at the end of each month. Changes in the fair value of derivative financial instruments arising from the counterparty credit risk are recognized in the Statement of Income, in item “Fair value adjustments in hedge accounting”. The Bank discontinues the hedge accounting when the hedging instrument is terminated. The cumulative gain or loss on the hedging instrument that has been recognized in other comprehensive income 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. In 2013, the actuarial gains and losses are recognized in the Fair value reserves (in previous years, in the Statement of Income). 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. Fair value calculation criteria for equity-settled Stock Options: The fair value has been measured by applying the Hull-White model. The model is based on trinominal tree price distribution using the Boyl’s algorithm and estimates the early exercise probability on the basis of a deterministic model connected to reaching a Market Share Value equals to an exercise price-multiple and probability beneficiary’s early exit after the end of the vesting period. Fair value calculation criteria for Stocks: Fair value was determined based on the market price of the share, adjusted for the present value of the dividends, entitled from the grant, to the settlement date. Vesting periods for stocks are one year, vesting periods for stock options are four years. Granted stocks expire within five months after the end of vesting period, whereas stock options expire in six to ten years after the end of vesting period. 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 and fair value reserves from cash flow hedge), 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 The current corporate income tax rate is 17 % (for the year 2012: 18 %). For deferred taxes, the applied rate is 17 % (for the year 2012: 17 %, 16 % or 15 % , as these were in line with the then valid legislation regarding the corporate income tax rates for 2013, 2014 and 2015). 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, implemented in 2013, 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 regulatory requirements of the Bank of Slovenia. 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 2013, 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 7: Property, plant and equipment 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 EUR ’000 Leasehold Computer 2012 Other Work in improvements hardware equipment progress Total Cost Opening Balance 12,575 5,233 6,423 726 24,957 Additions - - - 433 433 Transfer from work in progress - 442 236 (678) - Disposals (357) (405) (176) - (938) Closing Balance 12,218 5,270 6,483 481 24,452 Depreciation Opening Balance 5,519 3,488 3,223 - 12,230 Depreciation for the year 1,008 488 762 - 2,258 Disposals (241) (403) (139) - (783) Closing Balance 6,286 3,573 3,846 - 13,705 Net book value Opening Balance 7,056 1,745 3,200 726 12,727 Closing Balance 5,932 1,697 2,637 481 10,747 The contractual commitments for the acquisition of property, plant and equipment amount to 16 thousand euros (on 31 December 2012 there were none). 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. Deposits from customers EUR ’000 31/12/2013 31/12/2012 On demand 585,516 669,800 Corporates 245,685 372,244 Financial institutions 147,536 83,563 Public sector 26,284 76,681 Private customers 157,387 128,755 Sole traders 8,624 8,557 Short-term deposits 464,338 310,715 Corporates 238,583 17,204 Financial institutions 49,558 42 Public sector 35,139 176,439 Private customers 140,799 115,712 Sole traders 259 1,318 Long-term deposits 226,979 247,274 Corporates 19,266 23,267 Financial institutions 10,670 10,190 Public sector 2,770 10,585 Private customers 194,169 199,058 Sole traders 104 4,174 Total 1,276,833 1,227,789 Subordinated liabilities EUR ’000 31/12/2013 31/12/2012 Subordinated liabilities to banks 30,117 30,101 Total 30,117 30,101 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 31/12/2013 31/12/2012 Assets for cross-border payment transfers 2,866 4,614 Liabilities for fees 209 266 Liabilities arising from settlement of transactions 4,731 1,796 Liabilities to suppliers 1,074 1,026 Accrued expenses 3,761 3,405 Other financial liabilities 3,507 3,405 Total 16,148 14,512 Financial Statements Notes on the Financial Statements Staff costs EUR ’000 2013 2012 Gross salaries 16,687 17,087 Contributions for social security 1,172 1,326 Contributions for pension insurance 1,415 1,620 Other contributions levied on gross salaries 50 157 Allowance for transport to work and for meals 1,338 1,333 Variable salaries 849 955 Other staff costs 1,129 1,450 Total 22,640 23,928 In 2013, the expenses for unused holidays in the amount of 1 thousand euros (in 2012: the decrease of expenses in the amount of 30 thousand euros) were included in other staff costs. On 31 December 2013, the Bank had no accrued expenses for equity settled share based payment in accordance with IFRS 2 (recognized in the Statement of Financial Position) (6 thousand euros on 31 December 2012). The decrease of expense for equity settled share based payment therefore amounts to 6 thousand euros (decrease 82 thousand euros in 2012). Shares and share options 2013 Number of shares / share options Average exercised price 2012 Number of shares / share options Average exercised price Opening Balance Shares 512 7.38 35,315 1.87 Share options 6,397 0.40 132,733 0.74 Granted in the year Shares - - - - Share options - - - - Forfeited in the year Shares 512 7.38 34,803 0.78 Stock options 6,397 0.40 105,192 0.38 Exercised in the year Share options - - 21,144 1.33 Expired in the year - - - - Closing Balance Shares - - 512 7.38 Share options - - 6,397 0.40 Exercisable at 31 December - - - - Financial Statements Notes on the Financial Statements Derivatives EUR ’000 31/12/2013 31/12/2012 Forwards and futures 83,404 52,308 Interest options 177,103 318,135 Currency options 1,334 185,789 Other options 710 746 Interest swaps 2,424,452 2,300,424 Held for trading 740,202 683,177 Held for hedging 1,684,250 1,617,247 Currency swaps 386,480 358,838 Held for trading 197,604 146,582 Held for hedging 188,876 212,256 Commodity swaps 234 3,391 Total 3,073,717 3,219,631 The explanation regarding an indication of the uncertainties relating to the financial derivatives is done within the analysis of the counterparty risk, chapter Risk report. The Bank’s intention is also to close most of the positions out of derivative business. Note 42: Fiduciary activities EUR ’000 31/12/2013 31/12/2012 Cash from clients for brokerage with financial instruments 3,336 7,370 Receivables from brokerage business with financial instruments - 1,183 Receivables from managing financial instruments 19,422 7,755 Receivables from custody business 5,281,706 5,502,300 Receivables from the Central Securities Clearing Corporation for sold financial instruments 1,708 - Receivables from settlement systems and institutions for sold financial instruments (buyers) 829 85 Receivables from settlement business 1,709 244 Cash of customers from other fiduciary activities - 130 Receivables from other businesses on behalf and for account of third parties 82,361 65,674 Assets total 5,391,071 5,584,741 Liabilities to customers from money and financial instruments 22,758 15,124 Liabilities to the Central Securities Clearing Corporation for financial instruments bought 1,465 245 Liabilities to other settlement systems and institutions for purchased financial instruments (suppliers) 5,282,768 5,503,323 Liabilities to bank for commissions, expenses, etc. 10 1 Liabilities from settlement business 1,708 244 Liabilities from other businesses on behalf and for account of third parties 82,362 65,804 Liabilities total 5,391,071 5,584,741 Note 43: Agency services EUR ’000 31/12/2013 31/12/2012 Claims of settlement and transaction accounts for client assets 5,303,665 5,511,323 From financial instruments 5,301,128 5,511,238 To the Central Securities Clearing Corporation or to bank's clearing account for sold financial instruments 1,708 - To the settlement systems and institutions for sold financial instruments (buyers) 829 85 Clients' cash 3,336 7,370 On settlement account for clients' funds 488 6,763 On banks' transaction accounts 2,848 607 Assets total 5,307,001 5,518,693 Liabilities of settlement account or transaction accounts for clients' funds 5,307,001 5,518,693 To clients from cash and financial instruments 22,758 15,124 To the Central Securities Clearing Corporation or to Bank's clearing account for purchased financial instruments 1,465 245 To other settlement systems and institutions for purchased financial instruments (suppliers) 5,282,768 5,503,323 To the bank or the bank's settlement account for commissions, expenses, etc. 10 1 Liabilities total 5,307,001 5,518,693 Off-balance-sheet items 5,301,128 5,511,238 Clients' financial instruments, itemised by services 5,301,128 5,511,238 Reception, intermediary, and execution of orders - 1,183 Managing financial instruments 19,422 7,755 Custodian services 5,281,706 5,502,300 Income and expenses from fees related to investment services and businesses EUR ’000 2013 2012 Income from fees and commission related to investment and subsidiary investment services and businesses for clients 5,107 5,071 Reception, intermediary, and execution of orders 302 270 Management of financial instruments 265 131 Initial public offering and subsequent sales without obligation to buy 63 93 Custodian and related services 4,477 4,577 Expenses from fees and commission related to investment and auxiliary investments services and businesses for clients 903 934 Fees related to the Central Securities Clearing Corporation and to similar organizations 341 216 Fees related to the stock exchange and similar organizations 562 718 Financial Statements Notes on the Financial Statements Note 44: 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 31/12/2013 31/12/2012 Loans 113,351 96,157 Management Board 318 337 Key management personnel 194 201 Close members of the family of key management personnel 1 - Parent company 98,328 73,078 Other companies within UniCredit 14,510 22,541 Derivatives 7,266 14,804 Other companies within UniCredit 7,266 14,804 Other assets 1,038 - Parent company 888 - Other companies within UniCredit 150 - Total assets 121,655 110,961 Financial liabilities measured at amortised cost 586,270 867,692 Management Board 225 128 Key management personnel 11 140 Close members of the family of Management Board 179 138 Parent company 579,705 861,574 Other companies within UniCredit 6,150 5,713 Derivatives 64,293 108,722 Parent company 66 - Other companies within UniCredit 64,227 108,722 Other liabilities 1,230 1,585 Parent company 443 506 Other companies within UniCredit 787 1,080 Total liabilities 651,793 978,000 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 2013 2012 Interest income 811 1,828 Management Board 3 5 Key management personnel 4 3 Parent company 87 115 Other companies within UniCredit 717 1,706 Interest expense 16,961 27,221 Management Board 4 8 Close members of the family of key management personnel 4 2 Parent company 8,075 18,848 Other companies within UniCredit 8,878 8,363 Fee and commission income 1,441 1,684 Parent company 795 877 Other companies within UniCredit 646 808 Fee and commission expenses 473 727 Parent company 152 707 Other companies within UniCredit 321 19 Gains and losses on financial assets and liabilities held for trading 13,685 14,659 Parent company 705 (5) Other companies within UniCredit 12,980 14,664 Fair value adjustments in hedge accounting 2,570 - Other companies within UniCredit 2,570 - Other operating income 1,052 1,321 Parent company 890 1,163 Other companies within UniCredit 162 158 Administrative costs 2,906 2,544 Parent company 51 - Other companies within UniCredit 2,855 2,544 Accrued costs for unused holidays (1) (3) Management Board (1) (3) Provisions for severance and jubilee salaries 4 (25) Management Board 4 (11) Key management personnel - (14) Resolve anytime, anywhere. “On her way back from holiday, one of my Customers had a problem with her car, forcing her to call for assistance. The problem was serious, and the daily limit on her debit card did not permit our Customer and her husband to pay for the repairs. She called me on the verge of panic, and I went straight to work to solve the problem as quickly as possible. They were able to pay their bill and set off again with peace of mind. When they got home, I received a phone call from my Customer to thank me and let me know that after their positive experience with UniCredit, her husband was becoming a customer.” Silvia rieder - Commercial Bank Pressbaum Branch 2099 - UniCredit Bank - aUSTrIa Financial Statements risk report Overall Risk Management In line with UniCredit 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 UniCredit CEE risk management practice and of course supports UniCredit 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. Based on the client ratings, the Bank distinguishes between regular and restructuring committee. 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 Client business has to be treated free of interest rate, foreign exchange, and liquidity risk. As a consequence, it is necessary to determine a 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. The market and liquidity risks are transferred via a market-based fund transfer pricing system to the risk taking units. 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 always assessed from three different perspectives (risk appetite framework): • From the capital adequacy perspective, where on one side there are limitations and rules set by the regulator and on the other side there is the Group’s risk appetite; • From the profitability and risk perspective, where the Bank wishes to manage the volatility of earnings and to maintain sustainable growth; • From funding and liquidity perspective: liquidity is provided by the customers and the remaining part from the Group. 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 legislation of 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. • 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 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 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 corporate portfolio Bank assesses probability of default (PD) in accordance to Bank of Slovenia Regulation for capital requirement for credit risk based on internal rating systems (IRB) for banks and saving institutions. In line with this act Bank committed to implement IRB approach for all important exposures. With clear goal of effective and statistically confirmed credit risk measurement Bank builds and validates all models in accordance to previously mentioned Regulation and UniCredit Group 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. Comparison between internal and external ratings Internal rating* S&P Moody's Fitch 1 AAA / AA+ / AA / AA- Aaa / Aa1 / Aa2 / Aa3 AAA / AA+ / AA / AA­ 2 A+ / A / A­ A1 / A2 / A3 A+ / A / A­ 3 BBB+ / BBB Baa1 / Baa2 BBB+ / BBB 4 BBB- / BB+ Baa3 / Ba1 BBB- / BB+ 5 BB Ba2 BB 6 BB- / B+ Ba3 / B1 BB- / B+ 7 B B2 B 8 B- / CCC / CC B3 / Caa / Ca B- / CCC / CC * For the purpose of this comparison, the internal ratings were grouped into eight comparable groups; the ninth and tenth groups represent defaulted clients and are not included in the table. Financial Statements risk report IMPAIRMENT AND PROVISIONING POLICIES 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-balance-sheet 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 Behavioural 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 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 back to the normal performing status, whereby any potential losses are to be minimized. This activity is led by the Restructuring and Workout unit and assisted by the business units. • The “Work-out” status: This status means that the contract with the client is cancelled and the Restructuring and Workout unit is responsible for recovery via legal execution possibilities. The table below shows the exposure to market risks EUR ’000 Content 31/12/2013 31/12/2012 Assets Cash and cash balances with central banks 135,258 27,760 Financial assets held for trading 15,394 44,428 Available-for-sale financial assets 251,352 314,093 Derivatives - hedge accounting 7,008 14,144 Loans and receivables 2,023,996 2,364,631 Held-to-maturity financial assets 13,053 12,930 Investments in subsidiaries, associates and joint ventures 0 253 Total 2,446,061 2,778,239 Liabilities Deposits from central banks 253,226 251,823 Financial liabilities held for trading 17,188 43,593 Derivatives - hedge accounting 47,356 66,027 Financial liabilities measured at amortized cost 1,932,744 2,196,155 Provisions 6,137 2,443 Total 2,256,651 2,560,041 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, analysed 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 on-going 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. 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, UniCredit Banka Slovenija d.d. uses for its internal market risk management the IMOD Interest rate basis point shift in 2013 EUR Currency Up to 3 months 3 months to 1 year 31/12/2013 1 to 3 years 3 to 10 yeard Over 10 years Total Annual max, min, average Annual maximum Annual minimum Absolute average 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 Total 15,051 8,181 15,745 35,733 774 4,083 36,955 3,923 21,321 Interest rate basis point shift in 2012 EUR Currency Up to 3 months 3 months to 1 year 31/12/2012 1 to 3 years 3 to 10 yeard Over 10 years Total Annual max, min, average Annual maximum Annual minimum Absolute average CHF 406 (340) (20) (592) (264) (809) 1,059 (5,154) 2,239 EUR (8,221) (11,638) 62 34,363 650 15,216 43,139 14,142 28,316 USD (166) 77 (244) 0 0 (333) 196 (493) 42 Total 8,793 12,057 326 34,954 914 16,361 45,691 14,698 30,857 The relation between ‘interest rate risk in the banking book’ and the Bank’s capital is established by the Basel II framework and requires the Bank to compare the change in market value of the banking book after a 2-percent interest rate shock with the Bank’s net capital resources. In case such an interest rate shock absorbs more than 20 % of the Bank’s net capital resources the Bank’s supervisory authority may require the Bank to take measures in order to reduce risk. Stress testing results show that a 2-percent interest rate shock (parallel decrease of interest rates) at year end 2013 would absorb about 1.1 % of the Bank’s net capital resources which is far below the threshold level of 20 %. The current investment of equity capital is taken into account as an open risk position. Besides the Basel II required sensitivity measure mentioned above, UniCredit Banka Slovenija d.d. measures and monitors the Banking Book interest rate risk also with regard to the sensitivity of net interest income (Net Interest Income sensitivity). Interest rate risk has in case of the Net Interest Income sensitivity an impact on all owned positions up to one year resulting from business and strategic investment decisions (banking book only). On 31 December 2013, the sensitivity of interest income to an immediate and parallel shift of +100 bps was 1,176,543 euros and -508,438 euros for a shift of -100 bps. Additionally, the Bank measures the impact on Net Economic Value of various potential interest rate shocks for the total bank exposures. The main scenarios which are assessed on monthly basis represent: • Parallel shift of interest rate curves of +/-200 bps and +/-100 bps; • Changes in the steepness of the rate curve is analyzed by clockwise turning (increase in short-term rates and a simultaneous fall in long-term rates) and by counter-clockwise turning (short-term rates fall and long-term rates rise). At the end of 2013, EUR remains the main risk factor, but sensitivity to interest rates decreased particularly in parallel shift scenario. Open FX position in major currencies in 2013 and 2012 EUR ’000 2013 2012 Currency Annual maximum in short position Annual maximum in long position Annual maximum in short position Annual maximum in long position CHF (2,807) 507 (1,794) 1,141 GBP (145) 243 (946) 232 JPY (495) 189 (301) 302 USD (929) 3,953 (952) 13,680 Financial Statements risk report Balance sheet positions in different currencies as of 31 December 2013 EUR ’000 EUR CHF USD Other Total Cash and cash balances with the Central Bank 133,678 717 343 520 135,258 Financial assets held for trading 15,299 16 78 0 15,394 Available-for-sale financial assets 251,351 0 0 0 251,352 Derivatives - hedge accounting 7,005 2 0 0 7,008 Loans and receivables 1,650,478 314,230 54,196 5,091 2,023,996 To banks 55,081 9,150 54,195 5,091 123,517 To customers 1,592,333 303,140 0 0 1,895,472 Other financial assets 3,065 1,940 1 0 5,007 Held-to-maturity financial assets 13,053 0 0 0 13,053 Property, plant and equipment 9,164 0 0 0 9,163 Intangible assets 19,471 0 0 0 19,472 Tax assets 11,866 0 0 0 11,867 Current tax assets 1,003 0 0 0 1,004 Deferred tax assets 10,863 0 0 0 10,864 Other assets 1,989 0 4 0 1,993 TOTAL ASSETS 2,113,355 314,966 54,621 5,611 2,488,555 Deposits from central banks 253,225 0 0 0 253,226 Financial liabilities held for trading 17,125 20 43 0 17,188 Derivatives - hedge accounting 47,215 142 0 0 47,356 Financial liabilities measured at amortized cost 1,650,036 164,541 113,193 4,974 1,932,744 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 155,316 130,599 0 0 285,915 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 107,759 0 0 0 107,760 Fair value reserves (4,467) 1 0 0 (4,465) Retained earnings 104,035 0 0 0 104,036 Net profit for the year 0 0 0 0 - TOTAL EQUITY 227,711 1 0 0 227,715 TOTAL LIABILITIES AND EQUITY 2,205,637 164,704 113,238 4,974 2,488,557 Balance sheet positions in different currencies as of 31 December 2012 EUR ’000 EUR CHF USD Other Total Cash and cash balances with the Central Bank 26,100 676 365 619 27,760 Financial assets held for trading 44,225 32 171 0 44,428 Available-for-sale financial assets 314,093 0 0 0 314,093 Derivatives - hedge accounting 14.190 (46) 0 0 14,144 Loans and receivables 1,984,010 365,404 12,750 2,467 2,364,631 To banks 58,447 12,295 12,727 2,467 85,936 To customers 1,917,682 351,635 0 0 2,269,317 Other financial assets 7,880 1,474 24 0 9,378 Held-to-maturity financial assets 12,930 0 0 0 12,930 Property, plant and equipment 10,747 0 0 0 10,747 Intangible assets 19,236 0 0 0 19,236 Investments in subsidiaries, associates and joint ventures 253 0 0 0 253 Tax assets 6,974 0 0 0 6,974 Current tax assets 1,381 0 0 0 1,381 Deferred tax assets 5,593 0 0 0 5.,593 Other assets 163 0 8 0 171 TOTAL ASSETS 2,432,920 366,066 13,294 3,087 2,815,367 Deposits from central banks 251,823 0 0 0 251,823 Financial liabilities held for trading 43,225 230 139 0 43,593 Derivatives - hedge accounting 65,848 179 0 0 66,027 Financial liabilities measured at amortized cost 2,001,599 168,482 21,912 4,161 2,196,155 Deposits from banks 547,899 29,013 16 5 576,933 Deposits from customers 1,195,944 6,139 21,571 4,136 1,227,789 Loans from banks 213,947 132,873 0 0 346,820 Subordinated liabilities 30,101 0 0 0 30,101 Other financial liabilities 13,708 458 326 20 14,512 Provisions 2,443 0 0 0 2,443 Other liabilities 3,699 1 2 1 3,703 TOTAL LIABILITIES 2,368,637 168,892 22,053 4,162 2,563,744 Share capital 20,384 0 0 0 20,384 Share premium 107,760 0 0 0 107,760 Fair value reserves (18,733) (4) 0 0 (18,737) Retained earnings 141,679 0 0 0 141,679 Net profit for the year 537 0 0 0 537 TOTAL EQUITY 251,627 (4) 0 0 251,623 TOTAL LIABILITIES AND EQUITY 2,620,264 168,887 22,053 4,162 2.,815,367 Financial Statements risk report FINANCIAL DERIVATIVES Following international recommendations, the Bank classifies its derivatives transactions into interest rate contracts, foreign exchange contracts, securities related transactions and credit and other derivatives based on the underlying financial instrument. In all the categories, a distinction is made between over-the-counter (OTC) and exchange traded products. Most of the derivatives portfolio is composed of the OTC derivatives. UniCredit Banka Slovenija d.d. is a business partner in plain-vanilla and structured transactions for corporate customers and promptly closes risk positions which could lead to an excess of the available market risk limits. UniCredit Banka Slovenija d.d. also uses derivatives to optimize its balance sheet structure. For portfolio management and risk management purposes, contracts are valued at current prices using recognized and tested models. Market values show the contract values as of the balance sheet date where positive market values of OTC contracts indicate the current default risk arising from the relevant activity. Notional volume of derivative transactions as of 31 December 2013 Notional volume of derivative transactions as of 31 December 2012 EUR ’000 Derivative instrument types/Underlyings Notional Trading book Bank book Positive market value Trading book Bank book Negative market value Trading book Bank book 1. Debt securities and interest rate indexes 917,305 1,684,250 10,580 7,005 9,897 20,457 a) Options 177,103 0 13 0 13 0 b) Swaps 740,202 1,684,250 10,567 7,005 9,884 20,457 c) Forwards 0 0 0 0 0 0 d) Futures 0 0 0 0 0 0 e) Others 0 0 0 0 0 0 2. Equity instruments and stock indexes 710 0 38 0 38 0 a) Options 710 0 38 0 38 0 b) Swaps 0 0 0 0 0 0 c) Forwards 0 0 0 0 0 0 d) Futures 0 0 0 0 0 0 e) Others 0 0 0 0 0 0 3. Gold and currencies 282,342 188,876 4,513 2 7,205 26,899 a) Options 1,334 0 11 0 11 0 b) Swaps 197,604 188,876 3,004 2 7,063 26,899 c) Forwards 83,404 0 1,499 0 132 0 d) Futures 0 0 0 0 0 0 e) Others 0 0 0 0 0 0 4. Commodities 234 0 51 0 43 0 5. Other underlyings 0 0 0 0 0 0 Total 1,200,591 1,873,126 15,182 7,008 17,183 47,356 EUR ’000 Derivative instrument types/Underlyings Notional Trading book Bank book Positive market value Trading book Bank book Negative market value Trading book Bank book 1. Debt securities and interest rate indexes 1,001,312 1,617,247 19,326 13,956 18,537 28,751 a) Options 318,135 0 311 0 311 0 b) Swaps 683,177 1,617,247 19,016 13,956 18,227 28,751 c) Forwards 0 0 0 0 0 0 d) Futures 0 0 0 0 0 0 e) Others 0 0 0 0 0 0 2. Equity instruments and stock indexes 746 0 18 0 18 0 a) Options 746 0 18 0 18 0 b) Swaps 0 0 0 0 0 0 c) Forwards 0 0 0 0 0 0 d) Futures 0 0 0 0 0 0 e) Others 0 0 0 0 0 0 3. Gold and currencies 384,679 212,256 24,777 188 24,896 37,276 a) Options 185,789 0 11,876 0 11,876 0 b) Swaps 146,582 212,256 12,012 188 12,208 37,276 c) Forwards 52,308 0 889 0 812 0 d) Futures 0 0 0 0 0 0 e) Others 0 0 0 0 0 0 4. Commodities 3,391 0 171 0 139 0 5. Other underlyings 0 0 0 0 0 0 Total 1,390,128 1,829,503 44,292 14,144 43,590 66,027 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: • an accurate short–term and medium to long–term liquidity planning, complemented by regular and robust up to date liquidity stress testing; • an effective Contingency Liquidity Policy with feasible and up-to-date Contingency Action Plan to be executed in case of market crisis; • a 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. Financial Statements risk report 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. CONTINGENCY LIQUIDITY POLICY Liquidity crisis is a high impact, low probability event. If the liquidity crisis was to occur, it is essential for the Bank to act on time to minimize potentially disruptive consequences of the crisis. Contingency liquidity policy has an objective of ensuring the availability of effective organizational model in order to manage the negative effects of liquidity crisis situation. It governs the management of potential liquidity shocks to the Bank whenever they may arise. A fundamental part of the Contingency Liquidity Policy is the Contingency Funding Plan. Such plan consists of a set of potential but specific management actions together with a description of liquidity instruments at disposal in a crisis situation. Each instrument is to be presented together with its size and potential timing of execution, in order to improve the Bank’s liquidity position during crisis period. YEAR-END ASSESSMENT OF LIQUIDITY Despite difficult situation on global and local markets, the Bank has maintained a strong liquidity profile throughout 2013. An important funding source remains the liquidity centre at UniCredit Bank Austria AG, Vienna where the Bank refinances at the market liquidity. The Bank manages the maturity mismatches by maintaining an adequate liquidity reserve in the form of ECB eligible loans and securities. Balance sheet, due to maturity on 31 December 2013 EUR ’000 Up to 1 1 - 3 3 - 12 1 - 5 Over 5 Content Total On demand month months months years years Cash and cash balances with central banks 135,260 95,258 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 2,196,717 110,272 131,466 71,989 313,218 800,347 769,425 - To banks 123,538 110,272 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 Investments in subsidiaries, associates and joint ventures 0 0 0 0 0 0 0 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 Deposits from central banks 253,957 0 0 0 0 253,957 - 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 amortized cost 1,946,048 593,308 360,563 170,437 235,766 411,742 174,232 - Time deposits to banks 325,223 7,792 500 57,223 29,817 74,891 155,000 - Time deposits to customers 1,287,831 585,516 346,872 112,564 194,396 46,974 1,509 - Loans from banks 286,673 0 27 344 8,702 269,877 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 liabilities 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. Financial Statements risk report Balance sheet, due to maturity on 31 December 2012 EUR ’000 Up to 1 - 3 3 - 12 1 - 5 Over 5 Content Total On demand 1 month months months years years Cash and cash balances with central banks 27,760 27,760 0 0 0 0 0 Financial assets held for trading 44,436 0 1,002 1,248 5,113 35,347 1,726 Available-for-sale financial assets 350,821 0 8,821 25,391 12,047 188,463 116,099 Derivatives - hedge accounting 14,144 0 723 2 1,654 4,118 7,647 Loans and receivables 2.,551,723 74,934 148,449 90,062 513,566 874,296 850,416 - To banks 85,968 74,934 4,884 525 1,377 4,248 0 - To customers 2,456,377 0 134,228 89,537 512,179 870,017 850,416 - Other financial assets 9,378 0 9,337 0 10 31 0 Held-to-maturity financial assets 15,143 0 0 520 0 7,750 6,873 Property, plant and equipment 10,747 0 0 0 0 0 10,747 Intangible assets 19,236 0 0 0 0 0 19,236 Investments in subsidiaries, associates and joint ventures 253 0 0 0 0 0 253 Tax assets 6,974 0 0 0 1,381 5,593 0 - Current tax assets 1,381 0 0 0 1.,381 0 0 - Deferred tax assets 5,593 0 0 0 0 5,593 0 Other assets 171 0 80 18 44 2 27 Total assets (1) 3,041,408 102,694 159,075 117,241 533,805 1,115,569 1,013,024 Deposits from central banks 255,917 0 0 0 0 255,917 0 Financial liabilities held for trading 43,593 0 841 1,182 5,147 34,704 1,719 Derivatives - hedge accounting 66,027 0 0 37 5,189 30,862 29,939 Financial liabilities measured at amortized cost 2.211,066 671,525 134,077 287,564 423,910 509,676 184,314 - Time deposits to banks 578,819 1,782 60,870 33,149 221,937 128,224 132,857 - Time deposits to customers 1,239,768 669,743 61,538 253,219 190,692 62,269 2,307 - Loans from banks 347,819 0 30 474 8,982 319,183 19,150 - Subordinated liabilities 30,148 0 148 0 0 0 30,000 - Other financial liabilities 14,512 0 11,491 722 2,299 0 0 Provisions 2,443 0 356 10 442 1,577 58 Other liabilities 3,703 0 53 85 1,447 1,412 706 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 (18,737) 0 0 0 0 0 (18,737) Retained earnings 141,679 0 0 0 0 0 141,679 Net profit / loss for the year 537 0 0 0 0 0 537 Total liabilities and equity (2) 2,834,372 671,525 135,327 288,878 436,135 834,148 468,359 Inconsistency (1)-(2) 207,036 (568,831) 23,748 (171,637) 97,670 281,421 544,665 Note: Non-discounted items of the Bank’s Statement of financial position are displayed in the table. Financial Statements risk report At the Group level, Group 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 Operational Risk Forum is organized by Bank Austria AG on a yearly basis with the common goal to get insight on important topics related to operational risk and to get involved in vital discussions together with establishment of contacts within the OpRisk Management of UniCredit. 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). Internal loss data collection 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. 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. 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 Share of net operational risk loss by event type categories in 2013 categories in 2012 Execution, delivery and process management Business disruption and system failures Execution, delivery and 90.7 % 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 Financial Statements risk report 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 bring and bear systemic risk. Legal and compliance risks represent risks of loss of earnings arising from violations or non-compliance with laws, by-laws, rules, regulations, agreements, prescribed practices, or ethical standards. The Bank faces the legal methodology risk, which is the risk that the methods adopted and steps taken to protect the Bank’s assets against claims by others or to protect against liability to pay damages or compensation to others are inadequate. In addition, the Bank is subject to operational legal risk which arises, in the course of the conduct of the Bank’s commercial operations, that it incurs obligations or liabilities that were not foreseen, or are greater than were foreseen or that its rights and claims prove to be fewer, or of a lower value, than had been expected. The Bank is exposed also to the compliance risks, such as the risks of the law 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 throughout 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 legal risk is found to be present, through allocation of responsibility for the development of procedures for management and mitigation of these risks and through establishing of procedures to monitor compliance, taking into account the required minimum standards. Legal and compliance risks cannot be entirely eliminated or avoided and they are hardly predictable. UniCredit Banka Slovenija d.d. is involved in a very few legal proceedings, which are still pending. 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 or new market participants/products. 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. 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 measures regularly the impact of share prices on our profit and loss statement. If the market value of Mercator d.d. shares (as the Bank biggest capital investment) declined by 10 euros, the Bank’s result before taxes would decrease by 3,014 thousand euros. Real Estate Risk UniCredit Banka Slovenija d.d. has no exposure to real estate financing and does not invest in real estate itself. Information According to Pillar 3 In line with the regulation on the Pillar 3 and the fact that UniCredit Banka Slovenija d.d. is consolidated into the UniCredit Group, the Bank has to disclose the following information on capital management, available funds and capital requirements for different risk categories. 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 demand and capital supply evolve over time, the Bank ensures that on the one side capital demand - mainly driven by business plans and by risk-profile forecasts in combination with macro-economic scenarios - does not exceed capital supply and on the other side the capital supply - 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 99.93 %. 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 regulatory requirements set by the Basel II and the Slovenian legislation. Here, the regulatory capital for credit risk, market risk and operational risk accounts for the capital demand, while balance-sheet capital (Tier 1, Tier 2 and Tier 3) constitutes the capital supply side. 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 2013 and 2012 is presented in the table below. The capital adequacy ratio increased from 13.45 % at the end of 2012 to 16.92 % at the end of 2013. Tier 1 ratio increased from 12.22 % at the end of 2012 to 15.55 % at the end of 2013. 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. In 2013, the Bank participated in the Asset Quality Review and Stress Testing exercise performed by the Bank of Slovenia. The Bank provides a short comment of the results in the business part of the annual report. A summary of stress test results and the methodology applied can be found on the web page of the Bank of Slovenia. Financial Statements risk report Own funds and capital requirement EUR ’000 ID Label Amount 31/12/2013 Amount 31/12/2012 1 TOTAL OWN FUNDS FOR SOLVENCY PURPOSES 222,884 259,893 1.1 ORIGINAL OWN FUNDS 212,708 242,615 1.1.1.1 Paid up capital 20,384 20,384 1.1.1.3 Share premium 107,760 107,760 1.1.2.1 Reserves 104,036 141,679 1.1.2.6 Valuation differences eligible as original own funds 0 (7,972) 1.1.5 (-) Other deductions from Original Own Funds (19,472) (19,236) 1.1.5.1 (-) Intangible assets (19,472) (19,236) 1.1.5.4 (-) Other country specific deductions to Original Own Funds 0 0 1.2 ADDITIONAL OWN FUNDS 26,000 30,000 1.2.2.3 Subordinated loan capital 26,000 30,000 1.3 (-) DEDUCTIONS FROM ORIGINAL AND ADDITIONAL OWN FUNDS (15,824) (12,722) 1.3.8 (-) IRB Provision shortfall (15,824) (12,722) 1.4 TOTAL ORIGINAL OWN FUNDS FOR GENERAL SOLVENCY PURPOSES 204,796 236,254 1.5 TOTAL ADDITIONAL OWN FUNDS FOR GENERAL SOLVENCY PURPOSES 18,088 23,639 2 CAPITAL REQUIREMENTS 105,361 154,613 2.1 TOTAL CAPITAL REQUIREMENTS FOR CREDIT, COUNTERPARTY CREDIT, DILUTION AND DELIVERY RISKS 93,919 144,056 2.1.1 Standardized approach (SA) 51,830 59,685 2.1.1.1a SA exposure classes excluding securitization positions 0 0 2.1.1.1b IRB exposure classes excluding securitization positions 51,830 59,685 2.1.1.1b.01 Central governments and central banks 505 253 2.1.1.1b.02 Institutions 3,378 3,211 2.1.1.1b.03 Corporates 6,134 8,951 2.1.1.1b.04 Retail 39,942 45,628 2.1.1.1b.06 Other non-credit obligation assets 1,871 1,642 2.1.2 Internal ratings based Approach (IRB) 42,089 84,371 2.1.2.1 IRB approaches when neither own estimates of LGD nor Conversion Factors are used 42,064 75,540 2.1.2.1.02 Institutions 3,022 4,447 2.1.2.1.03 Corporates 39,042 71,093 2.1.2.3 Equity IRB 25 8,831 2.2 SETTLEMENT RISK 0 0 2.3 TOTAL CAPITAL REQUIREMENTS FOR POSITION, FOREIGN EXCHANGE AND COMMODITY RISKS 41 155 2.4 TOTAL CAPITAL REQUIREMENTS FOR OPERATIONAL RISKS (OpR ) 11,401 10,402 2.4.3 OpR Advanced measurement approaches 11,401 10,402 2.6 OTHER AND TRANSITIONAL CAPITAL REQUIREMENTS 0 0 3.2 Surplus (+) / Deficit (-) of own funds 117,523 105,280 3.2.a Solvency ratio (%) 16.92 % 13.45 % Tier 1 ratio 15.55 % 12.22 % 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