Basic HTML-Version
Net margin
Cost/income ratio
31.12.2010
31.12.2009
31.12.2008
31.12.2010
31.12.2009
31.12.2008
0.59 %
0.57 %
0.67 %
61.10 %
63.80 %
59.58 %
Return on equity
Total profitability
31.12.2010
31.12.2009
31.12.2008
31.12.2010
31.12.2009
31.12.2008
5.08 %
5.05 %
4.81 %
0.25 %
0.23 %
0.23 %
The net margin is 0.59 per cent, the cost/income ratio is 61.10 per cent, the return on equity is 5.08 per cent and total profitability
is 0.25 per cent.
Source of funds/capital structure
31.12.2010
31.12.2009
Change
EUR m
Per cent
EUR m
Per cent
EUR m
Per cent
Liabilities
to banks
4,012.30
55.9 % 4,397.38
60.3 %
-385.08
-8.8 %
Giro deposits
797.06
11.1 %
747.75
10.2 %
49.31
6.6 %
Savings deposits
606.78
8.4 %
587.30
8.0 %
19.48
3.3 %
Certificated liabilities
1,188.18
16.5 % 1,075.89
14.7 %
112.29
10.4 %
Equity capital
350.85
4.9 %
343.54
4.7 %
7.31
2.1 %
Other liabilities
226.78
3.2 %
144.03
2.0 %
82.75
57.5 %
Liabilities
7,181.95
100.0 % 7,295.89
100.0 %
-113.94
-1.6 %
On the liabilities side, the decrease in total assets is attributable to a significant fall in liabilities to banks. These have fallen by 8.8 per
cent (EUR 385.08 m) to EUR 4,012.30 m. The following increased: certificated liabilities by 10.4 per cent (EUR 112.29 m) to EUR 1,188.18
m, other liabilities by 57.5 per cent (EUR 82.75 m) to EUR 226.78 m, giro deposits by 6.6 per cent (EUR 49.31 m) to EUR 797.06 m,
savings deposits by 3.3 per cent (EUR 19.48 m) to EUR 606.78 m and equity capital by 2.1 per cent (EUR 7.31 m) to EUR 350.85 m.
Income statement
2010
2009
Change
EUR m
EUR m
EUR m
Per cent
Net interest income
55.63
61.65
-6.02
-9.8 %
Income from securities and investments
14.28
13.53
0.75
5.5 %
Income from commission
24.16
24.76
-0.60
-2.4 %
Income / expenses from financial transactions
3.07
1.80
1.27
70.6 %
Other operating income
11.83
12.42
-0.59
-4.8 %
Operating income
108.97
114.16
-5.19
-4.5 %
Personnel expenses
-38.13
-41.53
-3.40
-8.2 %
Other administrative expenses (cost of materials)
-23.87
-21.24
2.63
12.4 %
Depreciation of assets
-3.38
-3.61
-0.23
-6.4 %
Other operating expenses
-1.20
-6.45
-5.25
-81.4 %
Operating expenses
-66.58
-72.83
-6.25
-8.6 %
Operating result
42.39
41.33
1.06
2.6 %
Balance of reversals from / allocations to the provisions
for receivables
-19.98
-24.11
-4.13
-17.1 %
Balance of reversals from / allocations to the provisions
for securities, investments
-4.78
-0.51
-4.27
837.3 %
Earnings from ordinary business activities
17.63
16.71
0.92
5.5 %
Income situation
Operating income fell in 2010 by 4.5 per cent (EUR 5.19 m) to
EUR 108.97 m. This was particularly due to the significant fall in
net interest income by 9.8 per cent (EUR 6.02 m) to EUR 55.63 m.
Income from commission also fell slightly by 2.4 per cent (EUR
0.60 m) to EUR 24.16 m, and other operating income by 4.8 per
cent (EUR 0.59 m) to EUR 11.83 m. Income from financial transac-
tions increased by 70.6 per cent (EUR 1.27 m) to EUR 3.07 m, and
income from securities and investments by 5.5 per cent (EUR 0.75
m) to EUR 14.28 m.
Operating expenses have fallen by 8.6 per cent (EUR 6.25 m) to
EUR 66.58 m. This is due principally to the decrease in other op-
erating expenses by 81.4 per cent (EUR 5.25 m) to EUR 1.2 m and
in personnel expenses by 8.2 per cent (EUR 3.40 m) to EUR 38.13
m. Depreciation of assets also decreased slightly by 6.4 per cent
(EUR 0.23 m) to EUR 3.38 m. Other administrative expenses saw
an increase of 12.4 per cent (EUR 2.63 m) to EUR 23.87 m.
The balance from provisions for receivables and allocation to
provisions for contingent liabilities, as well as income from the
reversal of provisions for receivables and from provisions for
contingent liabilities decreased appreciably by 17.1 percent (EUR
4.13 m) to EUR 19.98 m. There is a contrary trend in the balance
resulting from provisions for securities that are valued like finan-
cial investments, and for investments, as well as income from
provisions for securities that are valued like financial investments,
and for investments. This balance increased by EUR 4.27 m to
EUR 4.78 m.
Despite the continuing difficult economic climate, we managed to
increase the earnings from ordinary business activities by 5.5 per
cent (EUR 0.92 m) to EUR 17.63 m.
Bank branches
As at 31 December 2010, Raiffeisen-Landesbank Tirol AG was
represented in the market territory by 23 branches, five of which
are self-service. The employees at our branches look after more
than 65,400 private and commercial customers.
Personnel
In the 2010 financial year, Raiffeisen-Landesbank Tirol AG had
an average of 471.31 employees (451.32 salaried employees and
19.99 wage-earners). The 10 per cent decrease in comparison
with 2009 is due chiefly to the outsourcing of payments, back
office, balance sheet analysis and property valuation to our newly
established subsidiary for settlement and services, Raiffeisen
Abwicklungs- und Dienstleistungsgesellschaft (RAD).
Management Report |
25
|
|
24
| Management Report