 We obtain sufficient appropriate audit evidence regarding the financial information of the entities and business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
The legal representatives of the Company are responsible for the preparation of the group management report in accordance with Austrian Generally Accepted Accounting Principles.
Chief Executive Officer responsible for Group Compliance1, Group Communications, Group Strategy, Human Resources,
Deputy to the Chief Executive Officer responsible for Credit Management Corporates, Financial Institutions, Country & Portfolio Risk Management, Retail Risk Management, Risk Controlling, Risk Excellence & Projects and Special Exposures Management
Member of the Management Board responsible for Business Management & Development, Consumer & Small Business Banking, Group Capital Markets, Institutional Clients, Investment Banking Products, Premium & Private Banking, Raiffeisen Research and Retail Strategy & Products
Member of the Management Board responsible for Group & Austrian IT, Group Efficiency Management,
Group Procurement, Cost & Real Estate Management, Head Office Operations and Project Portfolio & Security 1 Outsourced to RZB/Reporting to the whole Board of Management.
Glossary Back testing – Comparison of historical calculated vaR figures with actual results to test the quality of a model.
Common equity tier 1 ratio (fully loaded) – Common equity tier 1 as a percentage of risk-weighted assets (total RWA) according to CRR/CRD Iv, without application of the transitional provisions set out in Part Ten of CRR and the accompanying CRR regulation of the FMA, respectively (425th regulation issued on 11 December 2013).
Cross-selling – Marketing strategy whereby additional products and services are actively offered to existing customers.
Default risk – Risk that counterparties in a financial transaction will not be able to fulfill its obligations, causing the other party a financial loss.
Earnings per share – Consolidated profit divided by the average number of ordinary shares outstanding in the reporting period.
IRB – Internal Ratings-Based. Approach to measure the total capital requirement for credit risks in accordance with Basel III. By applying the IRB approach, the total capital requirement is determined according to internal credit ratings. In the process, features specific to the borrower and the loan are taken into account. The ratings must be made by an independent source.
Market risk – The risk that the value of a financial instrument will change due to fluctuations in market prices whether those changes are caused by factors specific to the individual security or its issuer or factors affecting all securities traded in the market.
Portfolio-based loan loss provisions – Impairment provisions for portfolios of loans with the same risk profiles that may be formed under certain conditions.
Premium banking – Support for affluent customers that includes additional and above all more individually tailored products in comparison to the customary support for private customers.
Risk-weighted assets (RWA credit risk) – The sum of the weighted accounts receivable including receivables in the form of items on and off the statement of financial position and CvA risk.
Consolidated return on equity – consolidated profit in relation to average consolidated equity, i.e. the equity attributable to the shareholders of RBI. Average equity is based on month-end figures excluding non-controlling interests and does not include current year profit.
Cost/income ratio is an economic metric and shows the company’s costs in relation to its income. The ratio gives a clear view of operational efficiency. Banks use the cost/income ratio as an efficiency measure for steering the bank and for easily comparing its efficiency with other financial institutions. General administrative expenses in relation to operating income is calculated. General administrative expenses comprise staff expenses, other administrative expenses and depreciation/amortization of intangible and tangible fixed assets. Operating income comprises net interest income, net fee and commission income, net trading income and recurring other net operating income (i.e. other net operating income less bank levies, impairments of goodwill, releases of negative goodwill, and profit/loss from banking business due to governmental measures).
Loan/deposit ratio indicates a bank‘s ability to refinance its loans by deposits rather than wholesale funding. It is calculated with loans and advances to customers less impairment losses, in relation to deposits from customers (in each case less claims and obligations from (reverse) repurchase agreements and securities lending).
Net interest margin is used for external comparison with other banks as well as an internal profitability measurement of products and segments. It is caulcauted with net interest income set in relation to average interestbearing assets (total assets less trading assets and derivatives, intangible fixed assets, tangible fixed assets, and other assets).
Operating income – It comprises net interest income, net fee and commission income, net trading income and other net operating income (less bank levies, impairments of goodwill, releases of negative goodwill and profit/loss from banking business due to governmental measures).
Return on equity (ROE before/after tax) provides a profitability measure for both management and investors by expressing the net profit for the period as presented in the income statement as a percentage of the respective underlying (either equity related or asset related). Return on equity demonstrates the profitability of the bank on the capital invested by its shareholders and thus the success of their investment. Return on equity is a useful measure to easily compare the profitability of a bank with other financial institutions. Return on the total equity including non-controlling interests, i.e. profit before tax respectively after tax in relation to average equity on the statement of financial position. Average equity is calculated on month-end figures including non-controlling interests and does not include current year profit.
Return on risk-adjusted capital (RORAC) is a ratio of a risk-adjusted performance management and shows the yield on the risk-adjusted capital (economic capital). The return on risk-adjusted capital is computed by dividing consolidated profit by the risk-adjusted capital (i.e. average economic capital). This capital requirement is calculated within the economic capital model for credit, market and operational risk.
For the purpose of the analysis and description of the performance and the financial position these ratios are commonly used within the financial industry. The special items used below to calculate some alternative performance measures arise from the nature of Group’s business, i.e. that of a universal banking group. However it is to mention that the definitions mostly deviate. Please find the definitions of these ratios below.
Austria Am Stadtpark 9 1030 vienna Phone: +43-1-71 707-0 Fax: +43-1-71 707-1715 www.rbinternational.com ir@rbinternational.com communications@rbinternational.com
Belarus Priorbank JSC v. Khoruzhey str. 31-A 220002 Minsk Phone: +375-17-28 9-9090 Fax: +375-17-28 9-9191 SWIFT/BIC: PJCBBY2X www.priorbank.by
Poland Raiffeisen Bank Polska S.A. Ul. Grzybowska 78 00-844 Warsaw Phone: +48-22-347 7000 Fax: +48-22-347 7001 SWIFT/BIC: RCBWPLPW www.raiffeisen.pl
Austria Raiffeisen-Leasing International GmbH Am Stadtpark 3 1030 vienna Phone: +43-1-71 707-2071 www.rli.co.at
Serbia Raiffeisen Leasing d.o.o. Djordja Stanojevica 16 11070 Novi Beograd Phone: +381-11-220 7400 Fax: +381-11-228 9007 www.raiffeisen-leasing.rs
UK RBI London Branch Leaf C 9th Floor, Tower 42 25 Old Broad Street London EC2N 1HQ Phone: +44-20-79 33-8000 Fax: +44-20-79 33-8099
Publication details Media owner, publisher Raiffeisen Bank International AG Am Stadtpark 9 1030 vienna Austria Phone: +43-1-71 707-0 Fax: +43-1-71 707-1715 Internet: www.rbinternational.com
The report is also available in English: The forecasts, plans and forward-looking statements contained in this Annual Report are based on the state of knowledge and assessments of Raiffeisen Bank International AG at the time of its preparation. Like all statements about the future, they are subject to known and unknown risks, as well as uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. No guarantee can be provided for the accuracy of forecasts, target values or forwardlooking statements.