Return on equity before tax 9.2% 14.2% (5.0) PP 16.3% 16.2% 10.3%
Investors were concerned that RBI’s name received prominent media attention in connection with the FinCEN files. This specific case clearly demonstrated that RBI’s comprehensive compliance systems are effective, and the corresponding suspicious transactions were identified. Resolute action was taken where necessary: Special investigations were initiated, reports of suspicious activity were notified to the competent authorities and business relationships were also terminated. In the cases in question, RBI conducted itself in accordance with legal requirements at all times and no fines were payable; however, damage to RBI’s reputation occurred and was reflected in the share price performance. In view of these circumstances and in order to sustainably prevent money laundering, RBI has long been committed to ensuring that the necessary legal framework is created as a matter of urgency to, for example, enable an exchange of information between banks and also between banks and the authorities. The Supervisory Board and Management Board accord utmost priority and undivided attention to preventing money laundering and ensuring adherence to all compliance requirements, especially in relation to anti-money laundering and financial sanctions. Against this backdrop, RBI has taken the decision to include its anti-money laundering declaration in full in this report (Anti-Money Laundering Declaration, pg. 46), thereby highlighting the endeavors to improve the current legal situation.
 The focus for the Fit & Proper training course in November 2020 was on current legal issues pertaining to the Supervisory Board, the implications of the COVID-19 pandemic for the European Union and regulatory measures in relation to banks to manage the COVID-19 crisis.
As central institution of the Austrian Raiffeisen Banking Group, in 2021 RBI will again contribute to the stability of the domestic banking sector and furthermore continue to fulfill its important role as a partner to the Austrian Raiffeisen Banking Group in the interests of customers.
The consolidated financial statements, prepared by the Management Board pursuant to § 245a of the Austrian Commercial Code (UGB) in accordance with the provisions of the International Financial Reporting Standards issued by the International Accounting Standards Board mandatorily applicable on the reporting date, and the consolidated management report of RBI AG for the 2020 financial year were audited by KPMG and issued with an unqualified auditor’s report.
Austria has had a new sector-wide statutory deposit insurance (Einlagensicherung) system in place since 1 January 2019. All members of RBG have joined the new Einlagensicherung AUSTRIA Ges.m.b.H. Detailed information can be found under www.einlagensicherung.at.
Vision 2025: The most recommended financial services group RBI is a leading universal banking group in CEE and corporate and investment bank in Austria. It provides financial services to retail and corporate customers, as well as to banks and other institutional clients. RBI continues to focus on the CEE region, which offers structurally higher growth rates than Western Europe and therefore more attractive potential returns. With the specialist institutions it owns in Austria, each with a strong market position, RBI is broadly diversified and also benefits from the opportunities in the Austrian market.
Annual General Meeting and dividend proposal The Annual General Meeting for the 2019 financial year, which was originally scheduled for 18 June 2020, took place on 20 October 2020. This was due to the ongoing restrictions on personal contact and gatherings. The Annual General Meeting was conducted as a purely virtual event for the first time in order to protect the health of all participants. Shareholders took advantage of the opportunity to participate via RBI’s web-based AGM portal. All resolution proposals on the agenda were passed by a large majority. The original dividend payment proposal was not voted upon, in line with the ECB recommendation to pay no dividends until 1 January 2021. With increased loan volumes since the beginning of the year, RBI could contribute to the strengthening of the economy and its customers. At the same time, RBI’s financial strength would have facilitated a dividend payment in 2020. Nevertheless, RBI decided to follow the ECB’s recommendation and the net profit for 2019 was carried forward. In consideration of the ECB recommendation at the end of 2020, the RBI Management Board will propose a dividend of € 0.48 per share to the Annual General Meeting (planned for 22 April 2021).
Raiffeisen Centrobank AG, Austria, Chairman Raiffeisen Bank Aval JSC, Ukraine, Chairman Raiffeisen Kapitalanlage-Gesellschaft m. b. H., Austria, Deputy Chairman AO Raiffeisenbank, Russia, Member Raiffeisen Bank S.A., Romania, Member Tatra banka, a.s., Slovakia, Member
As long as the General Meeting passes no resolutions to the contrary in the future, Advisory Council members are paid the following annual remuneration:  For the Chairman of the Advisory Council: € 25,000 (excl. VAT)
The expiration of the mandate of CFO Martin Grüll in February 2020, led to substantial changes in the Management Board responsibilities, particularly the reallocation of former CFO duties to other Management Board areas.
The Audit Committee also engages in regular discussions with Internal Audit about general audit issues, defined audit areas, findings made during audits and steps taken to make improvements in response to audit findings. Group Compliance reports regularly to the Audit Committee and discusses the status and effectiveness of the internal control system with it. In particular, the parties discuss the findings from reviews of key controls in financial reporting and non-financial reporting areas as well as additional required improvements. The Audit Committee also devotes attention to the accounting framework and discusses the implementation of necessary projects.
A questionnaire-based evaluation was carried out under the direction of Werner Hoffmann, Head of the Institute for Strategic Management at WU Vienna. The evaluation was tailored to the company’s specific requirements. External experts then conducted individually prepared interviews with all members of the Supervisory Board in order to gain further insight from the evaluation and most effectively identify the Supervisory Board members’ requests and suggestions. The Supervisory Board members were asked, in particular, for their assessment of the organizational structure, the working methods of the Supervisory Board, the work done by the Committees, the provision of information, and the composition and independence of the Supervisory Board. The Supervisory Board’s work was analyzed objectively as part of the efficiency project, and the Supervisory Board drew up specific, jointly supported recommendations for action based on the project’s results.
At the Annual General Meeting, shareholders, as owners of the company, can exercise their rights by voting. The fundamental principle of “one share, one vote” applies. Accordingly, there are no restrictions on voting rights and all shareholders have equal rights. Every share confers one vote; registered shares have not been issued. Shareholders may exercise their voting rights themselves or by means of an authorized agent.
The signatories of this declaration want to change this sustainably by consistently complying with and further developing their own prevention measures, by proactively engaging with the legislator for a stronger AML legal framework, as well as by intensifying efficient and effective cooperation with all institutions and organizations active in the fight against money laundering. They are committed to the following principles: Principles 1. The signatories declare that they will do everything in their power to contribute to the prevention of money laundering and the financing of terrorism within their own areas of responsibility.
The ECB responded to the COVID-19 crisis with extensive monetary policy easing. Additional refinancing operations were conducted for banks, and conditions for targeted longer-term refinancing operations were made significantly more attractive. The existing bond purchase program (Asset Purchase Program or APP) of € 20 billion per month was expanded by € 120 billion from March 2020 until the end of 2020. Additionally, there was a further increase in the pandemic emergency purchase program (PEPP) in December to a preliminary total size of € 1,850 billion and it was extended until March 2022 at the earliest. Overall, the central bank succeeded in keeping money market and capital market interest rates at a low level.
The new action plan for implementation of the Capital Markets Union consists of 16 measures, for example, for providing access for SMEs to bank financing, the participation of retail investors, removal of barriers to cross-border investments and the creation of an appropriate market infrastructure. The establishment of a suitably designed European Single Access Point (ESAP) is intended to bring about the changes urgently needed to increase the visibility of EU companies and help with capital allocation.
RBI considers the comprehensive protection of all data that is either transmitted to it or made available to it, in particular data relating to natural persons (e.g. customers and employees), to be an integral part of its business activities. As such, RBI attaches great importance to data protection. In the collection, storage, processing and transmission of personal data relating to natural persons, in addition to observing the mandatory legal requirements RBI maintains internal policies and procedures which must be adhered to, embedded in an organizational and operational structure specifically for data protection. These are refined whenever necessary in coordination with the data protection officer. Compliance with these requirements, policies and procedures is managed by the organizational units Group Data Privacy & Quality Governance, Group Information & Cyber Security and Group Business Continuity Management & Physical Security. Compliance is also monitored and supervised by the data protection officer. As is the case for all European companies, RBI is faced with the extensive requirements for transferring data to countries outside of the EU brought about by the Schrems II judgement of the Court of Justice of the European Union.
A central theme for banks in the ongoing advancement of digitalization is the growing relevance of mobile banking. While the penetration (rate of active mobile banking use) was at 32 per cent for RBI Group in 2019, it had reached 43 per cent in 2020 (this figure varies greatly between markets). It is expected to continue to rise to 55 per cent by the end of 2021. There is also growing acceptance of online loans: At the end of 2019, 25 per cent of loans were granted through digital channels, and this increased to 48 per cent by year-end 2020. As a result of the exceptional circumstances due to the COVID-19 pandemic, the 2021 target of 35 per cent was thus already exceeded substantially in 2020.
The consolidated financial statements are prepared by Group Accounting & Reporting, which belongs to the CFO area under the CEO. The associated responsibilities are defined for the Group within the framework of a dedicated Group function.
The Central Europe (CE) region is expected to show significant economic growth averaging 3.7 per cent in 2021 following the deep recession of the previous year. Comprehensive vaccination programs are expected to be underway somewhat later than in Western Europe. After a slow start to the year, economic growth momentum is expected to accelerate in the second half. Monetary policy is likely to remain expansionary, while government support measures are not expected to be abruptly curtailed. With GDP growth of 5.0 per cent, Slovakia and Hungary are expected to see the strongest economic recovery in the region, while real growth should be 3.7 per cent in Poland and 2.5 per cent in the Czech Republic.
We remain committed to a cost/income ratio of around 55 per cent – possibly as soon as 2022 depending on the speed of the recovery.
Return on equity before tax 7.4% 12.7% (5.2) PP 5.0% 8.7% (3.7) PP
The NPE ratio was 1.9 per cent (down 0.4 percentage points year-on-year). The NPE coverage ratio improved 4.5 percentage points to 63.1 per cent.
Net fee and commission income declined 10 per cent, or € 40 million, year-on-year to € 377 million. Mainly as a result of the COVID-19 pandemic, reductions in fee and commission income of € 14 million and € 12 million were reported in Croatia and Romania, respectively, in clearing, settlement and payment services, and foreign exchange business. In Bulgaria, net fee and commission income was down € 5 million, which mainly reflected a change in the regulations for clearing, settlement and payment services. Albania also reported a fall of € 4 million due to lower volumes, mostly in clearing, settlement and payment services, and in loan and guarantee business.
Return on equity before tax 6.5% 12.5% 8.0% 14.6% 7.1% 16.9%
Net fee and commission income 61 75 156 168 48 51
Net trading income and fair value result 56 32 74.8% 6 13 (54.6)%
Other net operating income increased € 17 million to € 112 million due to the change in the segmental allocation of several Group units.
The Group Corporates & Markets segment covers operating business booked in Austria. This primarily comprises financing business with Austrian and international corporate customers serviced from Vienna, Financial Institutions & Sovereigns and business with the institutions of the Raiffeisen Banking Group (RBG). This segment also covers the capital market-based customer and proprietary business in Austria. Besides RBI AG, this also includes financial services outsourced to subsidiaries, such as Vienna-based entities like Raiffeisen Centrobank AG (equity trading and capital market financing), Kathrein Privatbank Aktiengesellschaft, Raiffeisen Leasing Group, Raiffeisen Factor Bank AG, Raiffeisen Bausparkasse Gesellschaft m.b.H., Valida Group (pension fund business ) and Raiffeisen Kapitalanlage-Gesellschaft mit beschränkter Haftung. In addition, companies valued at equity are assigned to this segment: card complete Service Bank AG, Vienna, NOTARTREUHANDBANK AG, Vienna, Oesterreichische Kontrollbank AG, Vienna, EMCOM Beteiligungs GmbH, Vienna, Posojilnica Bank eGen, Klagenfurt.
RReeccoonncciilliiaattiioonn comprises consolidation entries required to reconcile the individual segment results to the Group result. The financials of the segments are shown after elimination of intra-segment items. However, the inter-segment items are eliminated in the reconciliation. The main eliminations are dividend payments to head office and inter-segment revenues charged and expenses carried by the head office.
A financial asset is recognized when it is probable that the future economic benefits will flow to the company and the acquisition or production costs or another value can be reliably measured. A financial liability is recognized when it is probable that an outflow of resources embodying economic benefits will result from the settlement of the obligation and the amount at which the settlement will take place can be measured reliably. An exception is certain financial instruments which are recognized at fair value at the reporting date. Revenue is recognized if the conditions of IFRS 15 are met and if it is probable that the economic benefits will flow to the Group and the amount of revenue can be measured reliably.
The carrying amounts of companies valued at equity must be tested for impairment in the same way as other assets to determine whether there are objective indications of impairment. At the end of each reporting period, an assessment is made as to whether there is any indication that the carrying amount of an investment exceeds its recoverable amount. IAS 36 contains a list of internal and external indicators that are considered to be indications of impairment. In 2020, the COVID-19 pandemic led to a negative change in the economic environment in which the Group’s associates operate. If an indication arises that an entity valued at equity may be impaired, the recoverable amount of the asset is calculated. Additional details can be found under (20) Investments in subsidiaries and associates.
In addition to the above-mentioned support measures, RBI also participated in the European Central Bank’s TLTRO III program (Targeted Longer-Term Refinancing Operations) in order to build up an additional liquidity buffer. Since December 2019, RBI has borrowed approximately € 5,686,263 thousand from the TLTRO III facility. The interest rate on the TLTRO III facility tracks the performance of a benchmark loan portfolio based on two comparison periods. At RBI, interest is accrued at the deposit facility rate, currently -0.5 per cent, over the term of the refinancing, as RBI expects loan growth to reach the required 1.15 per cent growth rate by the end of March 2021. RBI currently assumes that the requirements for claiming the so-called COVID bonus for the period between June 2020 and June 2021 will not be met and, consequently, does not include it in the accrual of interest.
Financial assets - fair value through other comprehensive income 75,593 131,147
In the event of termination of function or employment contract and departure from the company, six members of the Management Board have entitlements under the Company Retirement Plan Act (Betriebliches Mitarbeitervorsorgegesetz). The entitlement to receive severance payments according to contractual agreements lapses in the case of termination by the employee.
The contributions to the resolution fund, which had to be booked entirely at the beginning of the year, increased € 26,152 thousand to € 75,495 thousand. The increase was due to higher contributions, mainly at head office, in Bulgaria, Romania and the Czech Republic. At head office, the increase resulted from a volume-driven higher assessment basis and an additional payment of € 15,912 thousand.
Impairment or reversal of impairment on investments in subsidiaries and associates (62,002) (98,066)
In the reporting period, losses from modification of contract conditions amounted to € 40,836 thousand, of which € 29,415 thousand resulted from COVID-19 measures (payment moratoriums and restructuring measures). Futher information can be found in chapter principles, section accounting policies related to COVID-19.
The increase in balances at central banks was primarily attributable to deposits made for liquidity management reasons and the minimum reserve. The minimum reserve, which is not freely available, amounted to € 234,699 thousand on the reporting date (2019: € 283,550 thousand).
PSA Payment Services Austria GmbH, Wien (AT), company shares 4,219 9,260
The carrying amount of financial assets – fair value through other comprehensive income decreased € 12,170 thousand compared to year-end 2019. The decrease was chiefly caused by the sale of part of the portfolio in Slovakia, sales of debt securities in Hungary and Croatia and the reclassification of Visa C preferred shares as non-trading financial assets – mandatorily at fair value through profit/loss, although there was a countervailing effect from the increase in debt securities in Romania and Russia.
Land and buildings used by the group for own purpose 1,062,864 (7) (71,572) 22,266 (27,302) 1,190 987,440
The planning includes adjustments of the business strategy to the changed framework conditions, such as further specializations, digitalization, and the development of new products.
Property 2020 Land and buildings used by the group for own purpose Investment property in € thousand Carrying amount Recoverable amount1 Difference Carrying amount Recoverable amount1 Difference 1 Based on the last available estimates of the recoverable amount
Principal debt securities issued: Issuer ISIN Type Currency Nominal value in € thousand Coupon Due
Sensitivity to changes in mortality was calculated for the impact of a 10 per cent increase in longevity. Sensitivity to changes in the risk margin was calculated for the impact of a 1.5 percentage point increase in risk margin. Sensitivity to changes in the yield curve was calculated for the effect of a 100 basis points reduction in the yield curve. There would be no effect on profit or loss due to the positive difference between the IFRS provision and the scenarios.
Raiffeisen Bank Aval JSC, Kiev (UA) 31.8% 115,844 42,009 (32,881) 9,128
A further element of the CVA involves determining a probability of default for each counterparty. Where direct credit default swap (CDS) quotations are available, the Group calculates the market-based probability of default and, implicitly, the loss-given-default (LGD) for the respective counterparty. The probability of default for counterparties which are not actively traded on the market is calculated by assigning a counterparty’s internal rating to a sector and rating-specific CDS curve.
Non-trading financial assets - mandatorily fair value through profit/loss 286,953 133,876 400,866 393,687 54,117 328,133
Liabilities 2020 2019 in € thousand Level I Level II Level III Level I Level II Level III
As a result of improved market depth, securities totaling € 3,073 thousand were reclassified from Level II to Level I. This related mainly to securities of non-financial corporations (€ 1,680 thousand), securities of financial institutions (€ 841 thousand), and securities of central governments (€ 553 thousand).
Deposits from banks and customers1 0 0 119,544,413 119,544,413 119,039,858 504,555
In addition to the provisions for off-balance-sheet risks according to IFRS 9, provisions for other commitments given were recognized according to IAS 37 in the amount of € 1,204 thousand (2019: € 12,317 thousand).
The expected credit loss is measured on either a twelve-month or lifetime basis depending on whether a significant increase in credit risk has occurred since initial recognition or whether an asset is considered to be credit-impaired. Forward-looking eco
Raiffeisen Bank International | Annual Report 2020 2020 Accumulated impairment (Stage 1 and 2)
The table below shows the impact of staging on RBI's accumulated impairment for financial assets by comparing the reported amounts accumulated for all performing assets subject to impairment with the special case where all accumulated impairment is measured based on lifetime expected losses (Stage 2). Non-retail industries were divided into high, moderate and low depending on the expected loss from the COVID-19 crisis. The industries which are expected to be highly impacted by COVID-19 are tourism, hotels and related industries as well as automobile, air travel, oil and gas, real estate and some consumer goods industries.
in € thousand Pessimistic scenario Weighted average Increase in provisions due to pessimistic scenario 2019 Accumulated impairment (Stage 3)
Changes due to modifications without derecognition (net) 0 0 1 1
The share of modification losses relating to COVID-19 measures was € 29,415 thousand.
Net amount in € thousand recognized financial assets recognized financial liabilities set-off recognized financial assets Financial instruments Cash collateral received
(46) Derivative financial instruments 2020 Nominal amount Fair value in € thousand Assets Liabilities
 Independent control: A clear personnel and organizational separation is maintained between business operations and all risk management or risk control activities.
Credit decisions are made within the context of a competence authority hierarchy based on the size and type of the loan. Approval from the business and the credit risk management divisions is always required when making individual limit decisions or performing regular rating renewals. If the individual decision-making parties disagree, the potential transaction is decided upon by the next higher-ranking credit authority.
The rating model for project finance has five grades and takes both individual probabilities of default and available collateral into account. The breakdown of the bank’s project finance exposure is shown in the table below: in € thousand 2020 Share 2019 Share 6.1 Excellent project risk profile – very low risk 4,536,285 61.8% 5,366,921 74.4%
6.2 Good project risk profile – low risk 2,294,223 31.3% 1,309,563 18.2%
in € thousand 2020 Share 2019 Share 8 Weak credit standing/sub-standard 12,009 0.1% 9,019 0.0%
The non-investment grade credit exposure to sovereigns mainly comprised deposits of Group units at central banks in Central, Eastern, and Southeastern Europe. The deposits serve to fulfil the respective minimum reserve requirements and act as a vehicle for short-term investment of excess liquidity and are therefore inextricably linked with business activity in these countries. The increase in the credit exposure of € 376,312 thousand to € 1,072,508 thousand in Ukraine was due to money market transactions (partly offset by the depreciation of the Ukrainian hryvnia).
In Central Europe, the non-performing exposure declined € 130,719 thousand to € 858,210 thousand, primarily due to declines in Poland in the non-financial corporations portfolio of € 90,409 thousand and in the households portfolio of € 56,388 thousand, with sales and derecognitions contributing € 64,690 thousand. The NPE ratio decreased 0.4 percentage points to 1.9 per cent, and the coverage ratio increased 4.5 percentage points to 63.1 per cent.
Central Europe registered an increase of € 3,451,263 thousand to € 54,121,744 thousand mainly resulting from credit financing and money market transactions in Hungary and from the bond portfolio and from credit financing in Slovakia. Bonds, facility financing and repo transactions also increased in the Czech Republic, as did the minimum reserve of the National Bank of Slovakia.
The costs vary from country to country due to the different regulations relating to COVID-19, the level of digitalization, the number of mobile work devices already available and the number of employees and branches. Romania, Russia and Ukraine accounted for the largest share of costs, with losses of between € 2,000 thousand and € 5,000 thousand, as well as Hungary, the Czech Republic, Slovakia and Albania with more than € 1,000 thousand.
The direct losses were included both in the AMA model within the context of the regulatory capital requirement and also in the economic capital in an amount of € 7,700 thousand.
In Romania, the tax review resulted in an extraordinary tax burden in an aggregate amount of approximately € 33 million plus penalty payments of about € 22 million. Following an administrative appeal by Raiffeisen Bank S.A., Bucharest, the tax burden was reduced to € 30 million. The exact amount of the reduction in penalty payments has not yet been communicated by the authorities.
The following table was prepared pursuant to § 64 (1) 10 of the Austrian Banking Act (BWG).
Centralised Raiffeisen International Services & Payments S.R.L., Bucharest (RO) 100.0% 1/1 Materiality
Fintech Growth Fund Europe GmbH & Co KG, Vienna (AT) 352,500 EUR 42.6% FI
UNDA Grundstücksvermietungs Gesellschaft m.b.H., St. Pölten (AT) 36,360 EUR 25.0% FI
All other financial assets – i.e. financial assets that do not meet the criteria for classification as subsequently measured at either amortized cost or FVOCI – are classified as subsequently measured at fair value, with changes in fair value recognized in profit or loss. In addition, RBI has the option at initial recognition to designate a financial asset as at FVTPL, if doing so eliminates or significantly reduces a measurement or recognition inconsistency – i.e. an accounting mismatch – that would otherwise arise from measuring assets or liabilities, or recognizing the gains and losses on them, on different bases.
In accordance with IFRS 9, embedded derivatives are not separated from the host contract of a financial asset. Instead, financial assets are classified in accordance with the business model and their contractual characteristics as explained in the chapter business model assessment and in the chapter analysis of contractual cash flow characteristics. The recognition of derivatives which are embedded in financial liabilities and in non-financial host contracts has not changed under IFRS 9.
When quoted prices for financial instruments are not available on an active market, the underlying financial instrument is classified as Level II. If no quoted market prices are available, the fair value is determined using recognized measurement models which utilizes observable prices or parameters (in particular present value calculations or option price models). These methods concern the majority of the OTC-derivatives and non-quoted debt instruments.
A financial asset is derecognized when the contractual rights to the cash flows arising from a financial asset have expired, when the Group has transferred the rights to the cash flows, or if the Group has the obligation, in case that certain criteria occur, to transfer the cash flows to one or more receivers. A transferred asset is also derecognized if all material risks and rewards of ownership of the assets are transferred. The Group has in place a write-off policy based on the principle that the bank being the creditor of loans does not expect any recovery/payment either on the entire exposure (full write-off) or on a part of the exposure (partial write-off). Furthermore, the loans have to be either fully impaired in amount of the entire exposure or, in case of collateralized loans, they are impaired in the extent not being collateralized. Further information on write-offs is provided in (36) Expected loan defaults.
As a rule, the risk parameters specific to IFRS 9 are estimated not only on historical default information but also, in particular, on the current economic environment (point-in-time perspective) and forward-looking information. This assessment primarily involves regularly reviewing the effects which the bank’s macroeconomic forecasts will have regarding the amount of the ECL and including these effects in the determination of the ECL. Further details on forward-looking information are provided in the notes under (36) Expected credit losses in the chapter forward-looking information.
 RBI has met the minimum requirements under applicable law for economic and regulatory capital and additionally neither the allocation, payment nor transfer of the variable remuneration is detrimental to the maintenance of a sound capital base for RBI.
The acquisition of Equa bank is expected to have an impact on RBI’s CET1 ratio of around 30 basis points (based on a pro-forma CET1 consolidation at year-end 2020). The final impact is subject to completion accounts at closing.
RRaaiiffffeeiisseenn KKaappiittaallaannllaaggee-- GGeesseellllsscchhaafftt mm..bb..HH.. Mooslackengasse 12 1190 Vienna Tel: +43-1-71 170-0 www.rcm.at
Czech Republic RRaaiiffffeeiisseennbbaannkk aa..ss.. Hvězdova 1716/2b 14078 Prague 4 Tel: +420-412 440 000 SWIFT/BIC: RZBCCZPP www.rb.cz
Slovakia TTaattrraa bbaannkkaa,, aa..ss.. Hodžovo námestie 3 81106 Bratislava 1 Tel: +421-2-59 19-1000 SWIFT/BIC: TATRSKBX www.tatrabanka.sk
Bulgaria RRaaiiffffeeiisseenn LLeeaassiinngg BBuullggaarriiaa OOOODD 32A Cherni Vrah Blvd. Fl.6 1407 Sofia Tel: +359-2-49 191 91 www.rlbg.bg
Korea RRBBII RReepprreesseennttaattiivvee OOffffiiccee KKoorreeaa #1809 Le Meilleur Jongno Town 24 Jongno 1 ga Seoul 110-888 Tel: +82-2-72 5-7951
Editing: Capital Language Communications Production: Firesys financial reporting system Printed by:: Bösmüller