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Management Report |
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| Management Report
Business development
Raiffeisen-Landesbank Tirol AG can look back on a satisfactory year in 2010, despite intense competition. Earnings from ordinary
business activities increased further, in spite of a significant drop in net interest income. This was primarily achieved through reducing
operating expenses. There was also a fall in the need to make provisions for credit risk management. This indicates that the economy in
Tyrol performed very well in 2010 and the fall-out from the crisis is slowly being overcome. In contrast, there was an increased need to
make provisions for securities and investments.
Total assets in EUR million
31.12.2003
31.12.2004
31.12.2005
31.12.2006
31.12.2007
31.12.2008
31.12.2009
31.12.2010
5,120
5,086
4,882
4,758
5,047
6,654
7,296
7,182
Use of funds/asset structure
31.12.2010
31.12.2009
Change
EUR m
Per cent
EUR m
Per cent
EUR m
Per cent
Receivables from
banks
2,749.24
38.3 % 2,838.88
38.9 %
-89.64
-3.2 %
Receivables from
customers
2,577.88
35.9 % 2,474.84
33.9 %
103.04
4.2 %
Securities
1,519.99
21.2 % 1,624.45
22.3 %
-104.46
-6.4 %
Shareholdings including
shares
in affiliated companies
208.92
2.9 %
212.32
2.9 %
-3.40
-1.6 %
Other assets
125.92
1.8 %
145.40
2.0 %
-19.48
-13.4 %
Assets
7,181.95
100.0 % 7,295.89
100.0 %
-113.94
-1.6 %
The slight decrease in assets of 1.6 per cent (EUR 113.94 m) to EUR 7,181.95 m was primarily due to an decrease in the securities in
the company's own possession and a fall in receivables from banks. Securities in the company's possession fell by 6.4 per cent (EUR
104.46 m) to EUR 1,519.99 m and receivables from banks decreased 3.2 per cent (EUR 89.64 m) to EUR 2,749.24 m. Other assets also
declined to a lesser extent, by 13.4 per cent (EUR 19.48 m) to EUR 125.92 m, and shareholdings including shares in affiliated companies
fell by 1.6 per cent (EUR 3.4 m) to EUR 208.92 m. Receivables from customers rose 4.2 per cent (EUR 103.04 m) to EUR 2,577.88 m.
Receivables from customers consisted of the following as at year-end 2010:
Industry comparison
2010
2009
Change
compared to
total lending
EUR k
EUR k
Per cent
Per cent
Agriculture, forestry and co-operatives
23,168
23,409
-1.0 %
0.9 %
Transport
140,342
151,100
-7.1 %
5.4 %
Commerce
539,897
504,038
7.1 %
20.9 %
Industry
161,978
155,760
4.0 %
6.3 %
Employed, private individuals
486,748
454,768
7.0 %
18.9 %
Tourism, leisure industry
352,049
324,468
8.5 %
13.7 %
Public bodies and social security
203,562
195,335
4.2 %
7.9 %
Freelancers, self-employed
55,185
49,876
10.6 %
2.1 %
Retailing
149,464
145,348
2.8 %
5.8 %
Other (housing associations
and other non-banks)
465,491
470,742
-1.1 %
18.1 %
Total
2,577,884
2,474,844
4.2 %
100.0 %
Equity capital (in accordance with Section 23 BWG (Austrian Banking Act))
31.12.2010
31.12.2009
31.12.2008
Change
EUR k
EUR k
EUR k
EUR k Per cent
Subscribed capital
84,950
84,950
80,000
Reserves
265,899
258,587
237,718
Intangible assets
0
-3
-14
Core capital
350,849
343,534
317,704
7,315
2.1 %
Secondary capital
13,752
13,752
7,043
Supplementary equity
13,752
13,752
7,043
-1
0.0 %
Equity before deductions
364,601
357,286
324,747
7,315
2.0 %
Deduction in accordance with Section 23 (13)
BWG (Austrian Banking Act)
-2
-2
-2
Short-term secondary capital
0
0
137
Actual equity
364,599
357,284
324,882
7,315
2.0 %
Equity ratio in accordance with Section 22 BWG
(Austrian Banking Act) (> 8 %)
10.77 %
10.55 %
9.68 %
The equity held by Raiffeisen-Landesbank Tirol AG increased by 2 per cent (EUR 7.32 m) to EUR 364.60 m in the year under review.
The equity ratio is 10.77 per cent, well above the statutory equity quota of 8 percent as required under Section 22 (1) BWG (Austrian
Banking Act).