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Management Report |
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| Management Report
Business development
Raiffeisen-Landesbank Tirol AG can look back on an extraordinary year 2009. The overflow of the financial market crisis into the real
economy resulted in considerable additional expense for credit risk management. The net result was also impaired by an instance of
malversation, although no customer suffered any loss as a result. In contrast, operating income and the need to make provisions for
securities have performed well. Despite the difficult economic climate, a substantial improvement was made to our earnings from
ordinary business activities and, in a comparison with our competitors in the sector, we were able to generate a very good net result.
Total assets in EUR million
31.12.2002
31.12.2003
31.12.2004
31.12.2005
31.12.2006
31.12.2007
31.12.2008
31.12.2009
4.922
5.120
5.086
4.882
4.758
5.047
6.654
7.296
Use of funds/asset structure
31.12.2009
31.12.2008
Change
EUR m
Per cent
EUR m
Per cent
EUR m
Per cent
Receivables from
banks
2,838.88
38.9 % 2,817.37
42.3 %
21.51
0.8 %
Receivables from
customers
2,474.84
33.9 % 2,424.18
36.4 %
50.66
2.1 %
Securities
1,624.45
22.3 % 1,073.49
16.1 %
550.96
51.3 %
Shareholdings including
shares
in affiliated companies
212.32
2.9 %
182.67
2.7 %
29.65
16.2 %
Other assets
145.40
2.0 %
155.91
2.3 %
-10.51
-6.7 %
Assets
7,295.89
100.0 % 6,653.62
100.0 %
642.27
9.7 %
The increase in assets of 9.7 per cent (EUR 642.27 m) to EUR 7,295.89 m was primarily due to an increase in the securities in the com-
pany's own possession. Securities in the company's possession rose by 51.3 per cent (EUR 550.96 m) to EUR 1,624.45 m. Receivables
from banks rose slightly by 0.8 per cent (EUR 21.51 m) to EUR 2,838.88 m, and receivables from customers by 2.1 per cent (EUR 50.66
m) to EUR 2,474.84 m. Shareholdings including shares in affiliated companies increased by 16.2 per cent (EUR 29.65 m) to EUR 212,32
m. Other assets decreased by 6.7 per cent (EUR 10.51 m) to EUR 145.40 m.
Receivables from customers consisted of the following as at year-end 2009:
Industry comparison
2009
2008
Change
compared to
total lending
EUR k
EUR k
Per cent
Per cent
Agriculture, forestry and co-operatives
23,409
23,652
-1.0 %
0.9 %
Transport
151,100
149,732
0.9 %
6.1 %
Commerce
504,038
446,403
12.9 %
20.4 %
Industry
155,760
153,561
1.4 %
6.3 %
Employed, private individuals
454,768
480,391
-5.3 %
18.4 %
Tourism, leisure industry
324,468
331,485
-2.1 %
13.1 %
Public bodies and social security
195,335
171,163
14.1 %
7.9 %
Freelancers, self-employed
49,876
51,839
-3.8 %
2.0 %
Retailing
145,348
135,852
7.0 %
5.9 %
Other (housing associations
and other non-banks)
470,742
480,105
-2.0 %
19.0 %
Total
2,474,844
2,424,183
2.1 %
100.0 %
Equity capital (in accordance with Section 23 BWG (Austrian Banking Act))
31.12.2009
31.12.2008
31.12.2007
Change 09/08
EUR k
EUR k
EUR k
EUR k Per cent
Subscribed capital
84,950
80,000
80,000
Reserves
258,587
237,718
228,921
Intangible assets
-3
-14
-50
Core capital
343,534
317,704
308,871
25,830
8.1 %
Secondary capital
0
7,043
14,477
Supplementary equity
13,752
7,043
14,477
6,709
95.3 %
Equity before deductions
357,286
324,747
323,348
32,539
10.0 %
Deduction in accordance with Section 23 (13)
BWG (Austrian Banking Act)
-2
-2
-2,502
Short-term secondary capital
0
137
0
Actual equity
357,284
324,882
320,846
32,402
10.0 %
Equity ratio in accordance with Section 22 BWG
(Austrian Banking Act) (> 8%)
10.55 %
9.68 %
11.28 %
The equity held by Raiffeisen-Landesbank Tirol AG increased by 10 per cent (EUR 32.40 m) to EUR 357.28 m in the year under review.
The equity ratio is 10.55 per cent, well above the statutory equity quota of 8 percent as required under Section 22 (1) BWG (Austrian
Banking Act).