prelom 2.indd - Raiffeisen Bank

Annual Report 2003 

Godišnji izvještaj 

Annual Report 

2003 

www.raiffeisenbank.ba 

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Godišnji izvještaj 2003 

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www.raiffeisenbank.ba

Sadržaj 

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Izvještaj predsjednika Nadzornog Odbora 

Report by the President of the Supervisory Board 

Predgovor direktora 

Introduction by Chief Executive Officer 

Raiffeisen Bank d.d. Bosna i Hercegovina 

Raiffeisen Bank d.d. Bosnia and Herzegovina 

Uprava Banke 

Bank Managment 

Organizaciona struktura banke 

Organisation Structure of the Bank 

Sektor za poslovanje sa pravnim licima 

Corporate Banking Division 

Sektor za poslovanje sa stanovništvom 

Retail Division 

Sektor sredstava i finansijskih tržišta 

Treasury and Financial Markets Division 

Sektor za finansije i računovodstvo 

Finance and Accounting Division 

Sektor podrškei platnog prometa 

Central Processing Division 

Bilans stanja 

Balance Sheet 

Bilans uspjeha 

Profit and Loss Account 

Značajni finansijski pokazatelji 

Key Financial Highlights 

Centrala i filijale 

Head Office and Branches 

Adresar 

Addresses 

Nezavisno revizorsko mišljenje 

Independent Auditors’ Report 

Nekonsolidovani Bilans uspjeha 

Unconsolidated Income Statements 

Nekonsolidovani Bilans stanja 

Unconsolidated Balance Sheets 

Nekonsolidovani izvještaj o toku novca 

Unconsolidated Statements Of Cash Flows 

Nekonsolidovani izvještaj o promjenama u vlasničkoj glavnici 

Unconsolidated Statements Of Changes In Shareholders’ Equity 

Napomene uz nekonsolidovane finansijske izvještaje 

Notes to the Unconsolidated Financial Statements 



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Izvještaj predsjednika 

Nadzornog odbora 


U ime Nadzornog odbora Raiffeisen Bank d.d. Bosna i Hercegovina sa zadovoljstvom Vam i ove 

godine mogu predstaviti uspješne poslovne rezultate u godini koja je iza nas. Iako je došlo do snažnog 

zaoštravanja konkurencije Raiffeisen Bank d.d. BiH zadržala je svoj stabilan rast i poziciju vodeće banke u 

zemlji. Zadržana je i pozicija banke sa najvećom aktivom. Samo još dvije banke imaju aktivu veću od 500 

miliona KM, dok dvije imaju aktivu veću od 300 miliona KM. Proces 

razvoja bankarskog sistema rezultirao je usvajanjem i primjenom 

novih međunarodnih standarda u bankarskoj superviziji, što će, 

između ostalog, uticati na strukturu bankarskog okruženja u državi. 

Već je primjetno poboljšanje ponude usluga i proizvoda banaka u 

BiH. Pored toga, uočen je lagani pad kamatnih stopa. U ovakvom 

okruženju banke su prinuđene da vrše bolju kontrolu svojih troškova 

i rizika. 

Da je bankarski sistem u BiH mnogo stabilniji govori iznos od preko 

7 milijardi KM ukupne aktive 37 banaka koliko ih danas posluje. 

Navedeni iznos znatno je veći u odnosu na period prije samo 

nekoliko godina, kada je u BiH poslovalo i mnogo više banaka, a u 

odnosu na 2002. godinu aktiva banaka povećana je za 27 posto. 

Uporedimo li ukupnu pasivu banaka sa prethodnom godinom uočit 

ćemo da su depoziti povećani za 26, a kapital za 11 posto. Ukupni 

depoziti krajem 2003. godine iznosili su 5,2 milijarde KM, od čega 

je učešće depozita građana 38 posto, što govori da je kod bh 

građanstva znatno primjetan i povratak povjerenja u banke. Štednja 

građanstva u odnosu na 2002. godinu veća je za 19 procenata i 

iznosila je 1,8 milijardi KM. Primjetan je i rast učešća depozita u KM, 

mada i dalje depoziti u stranim valutama u ukupnim depozitima 

učestvuju sa 55 posto. I iznos kredita imao je porast u odnosu na 2002. godinu, i to za 37 posto krediti 

stanovništvu, dok su krediti privatnim preduzećima porasli za 38 posto. Krediti javnim preduzećima smanjeni 

su za 22 posto. Od ukupnog iznosa kredita od 4,2 milijarde KM, 47 posto su krediti stanovništva, 43 posto 

su krediti privatnim preduzećima, a javna preduzeća učestvuju sa sedam posto. 

Pored gore navedenog, rast i razvoj bankarstva u BiH podstaknut je stvaranjem bolje ekonomske i 

poslovne sredine u BiH. Tome doprinose i pozitivni trendovi u vanjskoj trgovini BiH, koji utiču na porast 

zaposlenosti. 

Da se ekonomsko-politička situacija u BiH kreće u pozitivnom smjeru zasigurno je dokaz i činjenica da 

je BiH dobila svoj prvi suvereni kreditni rejting B3. Očekuje se da će dobiveni kreditni rejting poboljšati 

percepcije BiH u očima stranih investitora, te tako privući njihov kapital. 

Zahvaljujem se rukovodstvu RBBH za profesionalno vođenje svojih timova, kao i ostalim zaposlenicima na 

njihovom predanom radu. Siguran sam da će Raiffeisen Bank d.d. BiH, slijedeći viziju i misiju RZB grupacije, 

uz stabilizaciju i unapređenje političko-ekonomske situacije u zemlji, nastaviti sa svojim uspjesima. 

Dr. Herbert Stepic

Report by the President 

of the Supervisory Board 

On behalf of the Supervisory Board of Raiffeisen Bank d.d. Bosna i Hercegovina, it is my pleasure to 

present successful business results for the year which is behind us. Although it came to a strengthening of 

the competition, Raiffeisen Bank d.d. BiH retained its stable growth and position as the leading bank in the 

country. It also retained the position as the bank with the largest assets. Only two more banks have assets 

above 500 million KM, and two other have assets above 300 million KM. The development process of 

the banking system resulted in the adoption and implementation of new international standards in banking 

supervision which will, among other things, have influence on the future structure of the local banking 

landscape. An improvement in the range of products and services offered by the banks in BiH is already 

noticeable. Besides, a moderate decrease in interest rates was noticed. In this environment, the banks are 

forced to control their costs and risks better. 

The fact that the banking system is much more stable is supported by the amount of over 7 billion KM in 

total assets of banks operating at the moment. This amount is significantly higher than only a few years ago, 

when more banks operated in B&H. Compared to 2002 alone, bank assets increased by 27 percent. 

If we compare total liabilities of the banks with previous year, we notice that the deposits increased by 

26%, and equity by 11%. Total deposits by the end of 2003 were 5.2 billion KM, of which savings deposits 

account for 38%, which tells a lot about the regaining confidence of BH citizens in their local banks. Savings 

deposits of citizens increased by 19% compared with 2002, and they amounted to 1.8 billion KM. Growth 

in the share of KM deposits is also noticeable, although foreign currency deposits still account for 55% of all 

deposits. The amount of loans also increased, retail loans by 37% and loans to private enterprises by 38%. 

Loans to public enterprises decreased by 22%. Of the total amount of loans of 4.2 billion million KM, 47% 

belong to loans to individuals, 43% to loans to private enterprises, and public enterprises account for 7%. 

Besides the above, the growth and development of banking in BiH is reinforced by a better economical and 

business environment. This is especially supported by positive trends in foreign trade, which influence the 

increase in employment. 

The fact that the economical and political situation is developing in a positive direction is undoubtedly 

proved by the fact that BiH received its first sovereign credit rating of B3. This rating is expected to improve 

the perception of the counry in the eyes of foreign investors, and therefore further attract their capital. 

I thank the Management of RBBH for the professional leadership of their teams, as well as all other employees 

for their dedicated work. Along with the stabilization and improvement of the political and economical 

situation in the country, I am confident that Raiffeisen Bank will be following the vision and mission of RZB 

Group, thereby continuing its successes. 

Dr. Herbert Stepic 



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Predgovor direktora 


U ime Uprave Raiffeisen Bank d.d. Bosna i Hercegovina zadovoljstvo mi je govoriti o rezultatima uspješno 

završene poslovne 2003. godine. Poslovni rezultati RBBH pokazuju da smo spremno dočekali izazove 

sve jače konkurencije u bankarskom sektoru u Bosni i Hercegovini. Raiffeisen Bank d.d. BiH održala je 

stabilan rast, a revidirani finansijski rezultati Banke za 2003. godinu, pokazuju porast u svim segmentima 

poslovanja. 

Nagrada magazina Global Finance za “Najbolju banku u svojoj zemlji” još je jedna 

nagrada u nizu i predstavlja potvrdu dugogodišnjeg uspješnog poslovanja Raiffeisen 

banke. Ukupna aktiva Banke u prošloj godini povećana je za 50%, kapital za 33%, 

dobit za 36%, krediti za 67%, depoziti za 31%. Broj zaposlenih porastao je za 45%. 

Platni promet koji je prošle godine obavljen posredstvom Raiffeisen banke iznosio je 

11,5 milijardi KM, što je jednako bruto nacionalnom dohotku u zemlji. 

Projekat pripajanja Raiffeisen banke HPB dd Mostar uspješno je završen početkom 

protekle godine, čime je RBBH značajno ojačala svoju poziciju na BH tržištu i zadržala 

poziciju lidera. Time je značajno proširena mreža Banke (16 novih organizacionih 

jedinica u području Hercegovine), a proces širenja je nastavljen, sa akcentom na 

područje Republike Srpske, gdje Banka trenutno ima pet filijala. 

Naše poslovnice nalaze se na području cijele BiH, i u svim dijelovima naša ponuda 

ima iste uslove. 

RBBH je u protekloj godini nastavila uspješnu saradnju sa Evropskom bankom za 

obnovu i razvoj (EBRD). Krajem godine potpisan je ugovor prema kome je Bosna 

i Hercegovina dobila svoj prvi sindicirani kredit, prvi kredit takve vrste odobren 

stranoj banci u BiH, vrijedan 45 miliona eura. Navedeni ugovor omogućit će da 

našim klijentima iz privatnog sektora, uključujući mala i srednja preduzeća, pružimo 

srednjoročno i dugoročno finansiranje, koje je inače slabo dostupno. 

Raiffeisen banka prva je banka u BiH koja je formirala svoju brokersku kuću - Raiffeisen 

Brokers, a od januara ove godine Raiffeisen grupacija proširena je još jednim 

članom – Raiffeisen Leasing. Time uspješnu Raiffeisen grupaciju u BiH čini pet članica: Raiffeisen Bank, 

Raiffeisen osiguranje, Raiffeisen Brokers, Raiffeisen Leasing i Market Investment Group (MI-GROUP), koji je 

specijalizovan za upravljanje investicionim fondovima i posredovanje u prometu vrijednosnim papirima, a 

koje obavlja u ime i za račun Privatizacijskog investicionog fonda “MI-GROUP” d.d. Sarajevo. 

Ostvareni rezultati potvrda su naše klijent orjentisane strategije. Poduzimane su projektne aktivnosti sa 

ciljem povećanja zadovoljstva korisnika naših usluga kroz nove tehnologije i poboljšanje postojećih 

procesa. Vršeno je stalno educiranje zaposlenika kroz Projekat kvaliteta usluga, ali i dodatna specijalistička 

edukacija i usavršavanje postojećih kadrova. 

Želim naglasiti da smo za ovaj uspjeh zahvalni, kao prvo, svim našim klijentima koji su nam ukazali 

povjerenje, ali i svim našim uposlenicima bez čijeg predanog i požrtvovanog rada ne bi bilo ni ovakvih 

rezultata. 

Edin Muftić 

Direktor

Introduction by 

Chief Executive Officer 

On behalf of the the Management of Raiffeisen Bank d.d. Bosna i Hercegovina, it is my pleasure to report 

the results of a successfully completed business year 2003. RBBH’s business results show that we readily 

took on the challenges of an increasingly stronger competition in the local banking sector. Raiffeisen Bank 

maintained its stable growth, and the audited financial results of the Bank for 2003 show growth in all 

business segments. 

The award by the Magazine Global Finance for “The Best Bank in its Country” is one in whole range of 

decorations, and it represents an outside confirmation of the long-term successful business operations of 

Raiffeisen Bank. Its total assets increased by 50% last year, equity by 33%, profit by 36%, loans by 67% and 

deposits by 31%. The number of employees grew by 45%. Payment transactions effected last year through 

Raiffeisen Bank amounted to 11.5 billion KM, which is equal to the country’s gross national income. 

The project of integrating of Raiffeisen bank HPB d.d., Mostar, was successfully completed early last year, 

through which RBBH significantly strengthened its leading position in the local market. The bank’s network 

considerably extended by this step (16 new organisational units in the Herzegovina region), and the process 

of expansion continues, with emphasis on the territory of Republika Srpska, where the Bank currently has 5 

branches. Our outlets are situated throughout the country, and in all parts our products are offered under 

identical conditions. 

During last year, RBBH continued its successful co-operation with the European Bank for Reconstruction and 

Development (EBRD). By the end of the year, an agreement was signed, by which Bosnia and Herzegovina 

received the first syndicated loan to a foreign bank, amounting to 45 million euro. This agreement will 

enable us to provide medium and long-term finance to our customers in the private sector, including small 

and medium enterprises, which is otherwise not easily available. 

Raiffeisen Bank is the country’s first bank to have founded its brokerage house - Raiffeisen Brokers, and 

in January this year, another member joined the growing Raiffeisen Group – Raiffeisen Leasing. Therefore, 

the successful Raiffeisen Group in BiH now consists of five members: Raiffeisen Bank, Raiffeisen Insurance, 

Raiffeisen Brokers, Raiffeisen Leasing and Market Investment Group (MI-GROUP) which is specialized 

for Investment Funds management and intermediation in securities trading (performed on behalf and for 

account of Privatization Investment Fund “MI-GROUP” d.d. Sarajevo). 

The results achieved confirm our customer oriented strategy. Project activities have been initiated to increase 

the satisfaction of the users of our services through new technologies and by improving processes. Continuous 

staff training has been performed to support the Superior Customer Service Quality approach. 

I emphasize that we are very grateful for this success and thank firstly all our customers, who placed their 

confidence with us, and also all our employees. Without their hard and dedicated work we would not have 

been able to achieve these results. 

Edin Muftić 

Chief Executive Officer 



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Raiffeisen BANK dd 

Bosna i Hercegovina 


Raiffeisen BANK dd Bosna i Hercegovina dio je međunarodne RZB grupe-Austrija. 

Banka kao finansijska institucija posluje od novembra 1992. godine, kada je osnovana kao Market banka 

dd Sarajevo, s dominantnim učešćem privatnog kapitala od preko 90%. Kvalitetom svog poslovanja brzo 

se izdvojila kao vrlo uspješna i profitabilna banka. 

Od 1996. do 2000. godine Banka je bila jedan od vodećih bankarskih partnera internacionalnim 

finansijskim institucijama (Svjetska banka, IFC, KfW, SOROŠ i EBRD) u implementiranju kreditnih linija. 

Britanski finansijski časopis “Central European” dodijelio je Market banci nagradu, kao najboljoj bankarskoj 

instituciji u Bosni i Hercegovini za 1999. godinu. 

Market banku 21. jula 2000. godine kupila je Raiffeisen Zentralbank Österreich AG-Vienna, nakon čega je 

uspješno integrirana u Raiffeisen mrežu i posluje pod imenom Raiffeisen Bank dd Bosna i Hercegovina. 

Vlasnička struktura Raiffeisen Bank dd Bosna i Hercegovina: 

Raiffeisen International Bank-Holding AG 96,97% 

Millenia Beteiligungsverwaltungs 3,0% 

Ostali dioničari 0,03% 

RZB je centralna institucija Raiffeisen bankarske grupacije i aktivna je u Austriji kao korporativna i investicijska 

banka. U Centralnoj i Istočnoj Evropi (CEE), RZB je univerzalna bankarska grupacija. Specijalizirana 

supsidijarna lica dopunjavaju širok spektar proizvoda. Svoj ambiciozan dugoročni cilj RZB je postavio u 

svojim “Vizijama”: “RZB je vodeća bankarska grupacija u Austriji i Centralnoj i Istočnoj Evropi”. 

RZB grupacija, na čelu sa Raiffeisen Zentralbank Österreich AG (RZB - Austria) sa sjedištem u Beču, nastavila 

je svoj uspješan kurs rasta i u 2003. godini. 

Dobit prije poreza povećana je za 41.6%, što je primarno uzrokovano svrstavanjem RZB-a na dinamičnim 

tržištima rasta u CEE, gdje je Raiffeisen International ostvarila dobit prije poreza veću za 58%. 

Ukupni bilans RZB grupacije uvećan je za 21%, dok je ukupni bilans stanja Raiffeisen International Bank 

- Holding d.d. - holding kompanija za RZB-ove najvažnije podružnice u CEE, koja je u 100% vlasništvu 

RZB - porastao za skoro 40% i može se dodati organskom rastu. Povrat na kapital prije poreza dostigao je 

15,5%, nakon 12,5% u 2002. godini i najbolji je među velikim austrijskim bankama. Povrat na aktivu je 

takođe porastao značajno, sa 0,53 na 0,67%. 

RZB grupacija, predvođena Raiffeisen Zentralbank Österreich d.d. (RZB - Austria), zahvaljujući stalnom 

poslovnom fokusu na domaćim tržištima Austrije i Centralne i Istočne Evrope, jasnoj svijesti o troškovima 

i riziku i naravno, visoko kvalitetnom osoblju, ponovo je veoma uspješno prebrodila teška ekonomska 

iskušenja. I bilans i izvještaj o dobiti reflektuju dinamičan porast i značajno uvećanu zaradu u Austriji i 

inostranstvu. 

U suprotnosti sa generalnim trendom u bankarskom sektoru, RZB grupacija opet pokazuje snažan porast 

u broju osoblja u 2003. Na kraju godine, RZB je zapošljavao oko 21.100 ljudi, što ukazuje na porast od 

26,5%, a reflektuje se kroz snažan organski porast s jedne strane, i akviziciju bjeloruske Priorbanke s druge 

strane.

Raiffeisen BANK dd 


Raiffeisen BANK dd Bosna i Hercegovina is member of the international RZB Group-Austria. 


As a financial institution, the Bank started its operations in November 1992, when it was founded as Market 

banka dd Sarajevo, with predominant share of privately owned capital (over 90%). It soon emerged as very 

successful and profitable bank by its business quality. 

From 1996 to 2000 the Bank was one of the leading partners of international financial institutions (World 

Bank, IFC, KfW, SOROŠ and EBRD) in credit lines implementation. British financial magazine “Central 

European” awarded Market banka as the best banking institution in Bosnia and Herzegovina for the year 

1999. 

On July 21 st 2000 Market banka was acquired by Raiffeisen Zentralbank Österreich AG-Vienna. Today 

Market banka is successfully integrated into Raiffeisen network and operates under the name Raiffeisen 

bank dd Bosna i Hercegovina. 

Ownership structure of Raiffeisen Bank dd Bosna i Hercegovina: 

Raiffeisen International Bank-Holding AG 96.97% 

Millenia Beteiligungsverwaltungs 3.0% 

Other shareholders 0.03% 

RZB is the central institution of Raiffeisen Banking Group and it is active as corporate and investment bank 

in Austria. RZB is universal banking group in Central and Eastern Europe (CEE). Specialised subsidiaries 

complement to the wide range of products. RZB set its long-term ambitious goal in its “Vision”: “RZB is the 

leading banking group in Austria and Central and Eastern Europe”. 

RZB Group, headed by Raiffeisen Zentralbank Österreich AG (RZB - Austria) with its head-office in Vienna, 

continued with its successful growth in 2003. 

Profit before tax increased by 41.6%, which is primarily caused by placing RZB in dynamic growth markets 

in CEE, where Raiffeisen International realised profit before tax higher by 58%. 

Balance sheet total of RZB group increased by 21%, while balance sheet total of Raiffeisen International 

Bank-Holding d.d - RZB’s holding company - this the most important subsidiary in CEE 100% owned by 

RZB - increased by 40%, and it may be added to organic growth. Return on equity before tax reached 

15.5%, after 12.5% in 2002, and it is the best among large Austrian banks. Return on assets also increased 

significantly, from 0.53 to 0.67%. 

RZB Group, led by Raiffeisen Zentralbank Österreich d.d. (RZB-Austria), thanks to constant business focus 

in domestic markets of Austria and Central and Eastern Europe, clear awareness of costs and risk and, of 

course, high quality staff, again very successfully overcame great economic difficulties. Both the balance 

sheet and profit and loss account reflect dynamic growth and significantly higher earnings in Austria and 

abroad. 

Contrary to general trend in the banking sector, RZB Group has again recorded strong increase in staff 

in 2003. At the end of the year, RZB employed approx. 21,100 persons, which indicates the increase 

by 26.5%, which is reflected in organic growth on one side, and acquisition of Belarus Priorbank on the 

other. 


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Mreža u Centralnoj i Istočnoj Evropi nastavlja da se dosljedno širi. U januaru 2003., RZB je finalizirala 

akviziciju većeg dijela Priorbanke, treće najveće banke Bjelorusije. Uz ovaj korak, to je bila prva zapadna 

banka koja se uključila u strateško investiranje u Bjelorusiji, podupirući još jednom njenu pionirsku ulogu. 

Štaviše, Raiffeisen banka Kosovo, koja je stečena malo prije prelaska u Novu godinu, uspješno je integrirana 

u mrežu. Spajanje dvije banke u Bosni i Hercegovini završeno je na početku godine, jačajući vodeću 

poziciju najveće banke zemlje. 

Zatim, RZB je preuzela Banka e Kursimeve e Shqipërisë (BK ), Štednu banku Albanije. BK je do sada najveća 

banka u zemlji koja vodi najveću mrežu filijala sa 92 isturena šaltera i oko 1.000 uposlenika. Budući da 

se finalizacija kupovnog ugovora nije očekivala prije početka 2004., akvizicija nije uključena u rezultate 

2003. 

RZB smatra Centralnu i Istočnu Evropu svojim domaćim tržištem gdje djeluje putem Raiffeisen International 

mreže sa bankama podružnicama i pokriva 16 tržišta regije, uključujući svoj predstavnički ured u Litvaniji. 

Broj poslovnih lokacija porastao je za 20%, što je potvrda opredjeljenju RZB-a za širenje svog poslovanja 

na tržišta u usponu, a u mnogima od njih bila je pionir u uvođenju standarda modernog bankarstva.

Network in Central and Eastern Europe is constantly growing. In January 2003, RZB finalised acquisition 

of major part of Priorbank, the third largest bank in Belarus. With this step, it was the first western bank 

to engage in strategic investment in Belarus, underlining once again its pioneer role. Moreover, Raiffeisen 

bank Kosovo, which was acquired by the end of last year, was successfully integrated into the network. 

Merger of two banks in Bosnia and Herzegovina was completed at the beginning of the year, strengthening 

the position of the leading bank in the country. 

Also, RZB acquired the Banka e Kursimeve e Shqipërisë (BK ), Savings bank of Albania. BK has been the 

largest bank in the country with the largest branch network of 92 outlets and approx. 1.000 employees. 

Since finalisation of purchase and sale contract was not expected before the beginning of 2004, acquisition 

is not included in the results for 2003. 

RZB considers Central and Eastern Europe its home market where it operates through Raiffeisen International 

network with subsidiary banks, and covers 16 markets of the region, including its representative office in 

Lithuania. Number of business locations increased by 20%, which is a confirmation of RZB’s commitment 

for developing its business in emerging markets, and in many of them it was pioneer in introducing modern 

banking standards. 



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Uprava Banke 

Bank Management 


Rukovodstvo Banke 

Edin Muftić - Generalni direktor / Chief Executive Officer 

Zdenko Mihajlović - Izvršni direktor / Executive director 

Michael Müller - Izvršni direktor / Executive director 

Dino Osmanbegović - Izvršni direktor / Executive director 

Ognjen Samardžić - Izvršni direktor / Executive director 



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Organizaciona struktura banke 

Organisation Structure 

of the Bank 




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Sektor za poslovanje 

s pravnim licima 


U cilju unapređenja pristupa orjentiranosti prema klijentu, poslovanje sa pravnim licima u 2003. godini 

bilo je usmjereno na pružanje različitih proizvoda i usluga klijentima u skladu sa njihovim zahtjevima i 

potrebama. Takođe, realizacijom aktivnosti Banke na povećanju broja filijala i agencija širom BiH, klijentima 

je omogućeno da brže i efikasnije ostvare svoje poslovne zahtjeve. 

Na ukazano povjerenje klijenata u poslovanju sa Bankom ukazuje i činjenica da je krajem 2003. godine 

14.022 pravnih lica poslovalo sa Bankom, što je za 17% više u odnosu na kraj prethodne godine. 

Dominantni proizvodi i usluge koje su klijenti koristili su platno-depozitni, kao i kreditno-garantni proizvodi. 

Na osnovu zahtjeva klijenata, Banka je u 2003. godini poduzela aktivnosti unapređenja pružanja 

navedenih proizvoda i usluga. Kao primjer može se navesti da je Banka u okviru akcije “Od jutra do mraka” 

ponudila nove pogodnosti pravnim licima. Pomenutom akcijom omogućen je prijem naloga u domaćem 

i međunarodnom platnom prometu, radnim danom do 18 sati, a firme korisnici internet bankarstva ovu 

uslugu imaju na raspolaganju 24 sata. U dijelu kreditnih proizvoda, Banka je nastavkom uspješne saradnje 

sa uglednim međunarodnim finansijskim institucijama (EBRD, KfW, Svjetska banka) proširila ponudu 

dugoročnih kredita. Tako je, recimo, na osnovu ugovorenog aranžmana sa Projektom lokalnog razvoja 

Fondacije za održivi razvoj FBiH i RS-a, Banka kreirala liniju dugoročnih kredita općinama i općinskim 

komunalnim preduzećima za projekte razvoja općinske infrastrukture. Ovim se Banka uključila u realizaciju 

pomenute kreditne linije Svjetske banke. 

Banka je u 2003. godini pružila podršku u realizaciji nekoliko značajnih projekata za ekonomiju BiH, i 

to u dijelu izvoznih poslova BH preduzeća na tržištima trećih zemalja, pokretanja i proširenja domaće 

proizvodnje u prehrambenoj, metalnoj industriji i sl., zatim podrške nastavku otvaranja trgovačkih centara 

itd. 

Banka će i u narednom periodu nastaviti aktivnosti na unapređenju postojećih proizvoda i usluga, kao 

i uvođenju novih, a sve u cilju pravovremenog odgovora na zahtjeve i potrebe klijenata kao i podrške 

njihovom poslovanju.

Corporate Banking Division 

With the purpose of attitude improvement to orientation towards a customer, in 2003 corporate banking was 

mostly directed on offering different products and services to customers in accordance to their requirements 

and demands. Also, by implementing the Bank activities in expanding the number of branches and suboffices 

throughout BiH, customers have the possibility to achieve their business demands faster and more 

efficiently. 

Customers paid their trust to the Bank, which is covered by the fact that at the end of 2003, 14.022 of 

corporate customer has had a business co-operation, which is up by 17% comparing to the end of the 

previous year. 

Dominant products and services used by customers are payment-deposit as well as credit-guarantee 

products. Based on demands of customers in 2003 the Bank has taken activities in improving the level of 

the above products and services. For instance within the action “From dawn till night” the Bank has offered 

new benefits to corporate customers. The above action provided acceptance of orders in domestic and 

international payments on a working day up to 6.00 p.m. and companies that use internet banking may 

use this service for 24 hours. In the part of loan products, the Bank continued its successful co-operation 

with renowned international financial institutions (EBRD, KfW, World Bank) and expanded the long-term 

loan offer. For example, based on the agreed arrangement with the Project of local development of the 

Foundation for sustainable development of FBiH and RS, the Bank has created long-term loan lone for 

municipalities and municipal utility companies for projects of municipal infrastructure development. By 

doing this, the Bank started with the implementation of the above credit line of World Bank. 

In 2003 the Bank gave support in implementation of very significant projects for BiH economy in the part 

of export business of BH companies at markets of third countries, initiation and expansion of domestic 

production in food, metal industry etc. and support in continuation of opening trade centres etc. 

In the future the Bank will continue with its activities in improvement of the existing products and services 

as well as launching of a new ones in order to react timely on demands and needs of customers as well as 

support to their business. 



23


24 

Sektor za poslovanje 

sa stanovništvom 


Štednja stanovništva 

Proširena poslovna mreža, kao rezultat integrisanja RBHPB u sastav RBBH, uz uvećanu lepezu 

standardizovanih proizvoda, su na početku poslovne godine predstavljali dodatan impuls za 

intenziviranje prodaje proizvoda Banke u segmentu stanovništva. 

Depoziti stanovništva su na kraju godine iznosili 583.258.000,00 KM (298.215.000,00 EUR-a), 

što u odnosu na 2002. godinu predstavlja povećanje od 103.191.000,00 KM (52.761.000,00 EUR-a), 

odnosno 21,50%, uz konstataciju da je planska (budžetirana) vrijednost ispunjena sa 110%. 

Posebna pažnja tokom cijele godine bila je posvećena oročenoj štednji, i to na način da su paralelno 

vođene aktivnosti koje su trebale rezultirati značajnim povećanjem oročene štednje, te promjenom 

strukture oročene štednje u smislu favoriziranja dugoročne štednje. 

Shodno tome, provedene su akcije ŠTEDNJA PLUS, EURO PLUS i AKCIJA ŠTEDNJA. Takođe, dobar 

efekat je postignut uvođenjem novog roka oročenja na period od 13 mjeseci. Rezultat navedenih 

aktivnosti predstavlja oročena štednja građana u visini od 324.923.000,00 KM (166.130.492,00 

EUR-a) sa 31. 12. 2003. godine, što je povećanje od 44% u odnosu na prethodnu godinu. 

Istovremeno sa navedenim, dugoročno oročeni depoziti predstavljaju 29% ukupno oročenih 

depozita, što je značajno povećanje u odnosu na prethodnu godinu kada je učešće ovih depozita 

iznosilo 17%. 

Kao dobra ilustracija ostvarenog obima štednje služe i podaci o tome da naša banka posjeduje 

33,84% svih depozita fizičkih lica u komercijalnim bankama na području Federacije BiH, odnosno 

29,93% depozita fizičkih lica koji su deponovani u komercijalnim bankama na području cijele 

Bosne i Hercegovine. 

Neutralni poslovi 

Banka je, u uslovima pojačanog prisustva konkurencije i povećanog stepena rizika kod obavljanja 

aktivnih poslova, prepoznala potrebu za širenjem tržišta i povećanjem prihoda putem većeg obima 

neutralnih poslova. Kao prilog za navedeno jeste dalji razvoj i proširenje usluge brzog slanja i 

primanja novca putem sistema Western Union-a. Tako je Banka na kraju godine obavljala poslove 

WU-a na ukupno 292 lokacije širom BiH, što znači da su tokom 2003. godine otvorene 82 nove 

lokacije, od čega se 10 odnosi na lokacije Banke, a ostalo na lokacije podzastupnika. 

Broj obavljenih transfera u 2003. godini predstavlja povećanje od 24% u odnosu na prethodnu 

godinu. Shodno navedenom ostvarena je za 8% veća naknada u ovom segmentu neutralnih poslova. 

U oktobru 2003. godine potpisan je Ugovor o obavljanju mjenjačkih poslova sa JP Hrvatske pošte 

d.d. Mostar, što je u startu dalo dobre rezultate, a u 2004. godini se očekuju i bolji. 

Kanali distribucije i kvalitet usluga 

Pripajanjem HPB-a, Banka je sa 01. 01. 2003. godine dobila 16 novih organizacionih jedinica, 

što je ukupno činilo 43 organizaciona dijela. U toku 2003. godine počelo je sa radom novih 

13 organizacionih dijelova, što znači da je sa 31. 12. 2003. godine Banka imala ukupno 56 

organizacionih dijelova. 

Kao rezultat aktivnosti u segmentu poslovanja sa stanovništvom, zabilježeno je povećanje baze 

klijenata za 81.077 novih klijenata u 2003. godini. Sa 31. 12. 2003. godine Banka je imala 

136 zaključenih važećih protokola sa trgovcima o kreditiranju prodaje robe za fizička lica, te 151 

zaključen protokol sa auto kućama o kreditiranju prodaje automobila fizičkim licima. Takođe, u 

2003. godini došlo je do značajnog proširenja mreže prihvata kartica. U oktobru 2003. godine 

zvanično je počeo sa radom Call centar s početnim ciljem da pruža opšte informacije o svim 

uslugama i proizvodima Banke, odnosno Raiffeisen grupacije u BiH. 

Preseljenjem Glavne filijale Sarajevo u novi prostor, stvoreni su preduslovi da se kategoriji klijenata 

koja je prepoznata kao VIP ponudi novi i kvalitetniji nivo usluge. Riječ je o uvođenju “Ličnog bankara” 

koji stoji na raspolaganju VIP klijentima radi pružanja potrebnih informacija, odnosno obavljanja 

određenih transakcija po posebnoj proceduri, u za to posebno izdvojenim prostorijama.

Retail Division 

Retail savings 


The expended business network, as result of integration of RBHPB in RBBH, with enlarged range of 

standardised products, presented at the beginning of this business year an additional impulse for 

sales intensification of the Bank products in the retail segment. 

When it comes to retail deposits, the same amounted at the end of the year 583.258.000,00 KM 

(298.215.000,00 EUR), which in relation to 2002 presents an increase of 103.191.000,00 KM 

(52.761.000,00 EUR), i.e. 21,50%, with the statement that the plan (budgeted) value was realised 

with 110%. Special attention during the whole year was dedicated to term deposits, and in the way 

that activities that should result with significant increase of term deposits were managed parallel, 

and by changing of term deposits structure in terms of favouring long-term savings. 

In those terms were carried out activities SAVINGS PLUS, EURO PLUS and ACTIVITY SAVINGS. 

Also, a good effect was achieved by introducing a new fixed-term depositing for the period of 13 

months. The result of all mentioned activities present term deposits of the citizens in the amount 

of 324.923.000,00 KM (166.130.492,00 EUR) as of December 31 st 2003, which is an increase 

of 44% in relation to the last year. At the same time, long-term deposits present 29% of total term 

deposits, which is a significant increase in relation to the last year, when the participation of those 

deposits amounted 17%. As good illustration of the realised savings volume are also data that our 

Bank possesses 33,84% of all individual deposits in commercial banks in the area of Federation 

B&H, i.e. 29,93% deposits of individuals that are deposited in commercial banks in the whole 

B&H. 

Fee-based products 

In case of stringer presence of the competence and increased risk level by performing active 

operations, the Bank recognised need to spread the market and increase income through larger 

volume of fee-based products. Ad addition to the above mentioned is further development and 

expansion of quick sending and receiving service through the Western Union. So at the end of the 

year the Bank performed operations of the WU in 292 locations all around B&H, which means that 

during 2003 82 new locations were opened, of which 10 refer to locations of the Bank and the rest 

to locations of the sub-offices. 

The number performed transfers in 2003 presents increase of 24% in relation to the last year. 

According to the above mentioned, in this segment of fee-based products was realised fee higher 

by 8%. In October 2003 was signed Agreement on Foreign Exchange Business Operations with JP 

Hrvatske Pošte d.d. Mostar, which produced good results and in 2004 they expect even better. 

Distribution channels and service quality 

By merging HPB, the Bank as of January 1 st 2003 received 16 new organisational units, which made 

totally 43. During 2003 another 13 organisational units started operating, which means that as of 

December 31 st 2003 the Bank had totally 56 organisational units. 

As result of activities in the segment of retail business, it was recorded an increase of the customer 

basis by another 81.077 customers in 2003. As of December 31 st 2003 the Bank had 136 

concluded valid protocols with merchants for retail goods lending and 151 concluded protocols 

with car dealers for car lending to individuals. 

Also, in 2003 there was a significant expansion of the card acquiring network. 

In October 2003 the Call Centre officially began operating in order to provide general information 

about all services and products of the Bank, i.e. Raiffeisen Group in B&H. After moving the Head 

Office Sarajevo in the new premises, were created preconditions to offer new and more quality 

service level to the category of customers recognised as VIP customers. It is about introducing 

“Personal Banker” at disposal to the VIP customers in order to provide necessary information, i.e. 

to perform certain transactions following special procedure in separated premises specialised for 

this purpose. 


25


26 


Kartični poslovi 

Uz uspješno izdavanje MasterCard kartica, Banka je u 2003. godini nastavila i sa intenzivnim 

aktivnostima na izdavanju Visa kartica, kako bi ostvarila potrebno tržišno učešće u BiH, koje 

je bilo preduslov za dobivanje licence za prihvat Visa kartica. Polovinom godine aktivnosti su 

rezultirale uspješnom certifikacijom za prihvat kartica u našoj trgovačkoj mreži uz obavezu 

Banke da u određenom roku izvrši certifikaciju za prihvat chip kartica. Na ovaj način je ojačana 

pozicija Banke na kartičnom tržištu BiH i značajno kompenzirana prednost konkurencije u 

prihvatu oba kartična brand-a. Na isto ukazuje i podatak da je u ostvarenom neto prometu u 

BiH prihvatom Visa kartica tržišno učešće Banke krajem decembra iznosilo je 76,05%. 

Radi adekvatnog pozicioniranja na strani izdavanja kartica smanjene su pasivne i aktivne 

kamatne stope po svim debitnim karticama. Kvalitet usluge klijentima dignut je na viši nivo i 

omogućavanjem ispisa raspoloživosti sredstava na kartičnom računu putem POS terminala na 

šalterima Banke. Podizanju kvaliteta usluge doprinijele su i aktivnosti na uspostavljanju funkcije 

Help Desk-a. 

Sa ciljem da klijentima omogući dvadesetčetveročasovni pristup sredstvima na kartičnim 

računima, Banka nastavlja širenje ATM mreže, pa je broj ATM-ova na kraju godine iznosio 26. 

U odnosu na kraj 2002. godine ATM mreža je proširena sa 13 novih uređaja. 

Banka ima mrežu prihvata kartica, koju je na kraju godine činilo 1.179 POS terminala, od čega 

931 POS terminal kod trgovaca i 248 POS-ova za isplatu gotovine. U toku 2003. godine POS 

mreža je proširena sa 469 novih POS terminala, i ostvarena je pokrivenost trgovačke mreže 

servisom za prihvat Visa kartica od 78,52%. 

Potpisivanje ugovora sa Visa International o obavljanju poslova Agenta za nacionalno poravnanje 

u BiH predstavlja između ostalog i priznanje Banci za njen doprinos razvoju kartičnog poslovanja 

u BiH. 

Integrisanje RBHPB u mrežu RBBH, koja je već u ponudi imala Diners karticu, otvoren je projekt 

Diners-a i potpisan ugovor sa Diners Club International o cobranding partnerstvu za izdavanje 

kartica i ugovor o prihvatu Diners kartica kroz našu POS mrežu. Pune efekte projekta očekujemo 

u 2004. godini. 

Sa uspješno završenom certifikacijom migracije na 3DES za MasterCard praktično je otvoren 

projekat chip-a. 

Radi obezbjeđenja dodatnih funkcionalnosti za kartični biznis, obradu i praćenje poslovanja, 

a posebno dijela tehnoloških inovacija vezanih za chip, započete su aktivnosti oko izbora i 

migracije na novi kartični software.

Key operations 

With successful issuing of the MasterCards, in 2003 the Bank continued with intensive activities on 

issuing Visa cards, in order to realise necessary market share in B&H, which was precondition for 

obtaining the licence for Visa cards acquiring. By midyear the activities resulted with a successful 

certification for card acquiring in our trade network with obligation for the Bank in certain period to 

perform certification for chip cards acquiring. In this way was strengthen Bank’s position in the card 

market B&H and significantly compensated advantage of the competence in acquiring of both card 

brands. This indicates also the information that in realised net turnover in B&H, by acquiring of the 

Visa card, the Bank’s market share amounted 76,05%. 

In order to have adequate positioning, by issuing card were reduced interests payable and 

receivable for all debit cards. The service quality was set to a higher level and by providing listing 

of available funds on card account through a POS Terminal at Bank’s counters. Also activities in 

establishing function of the Help Desk contributed to raise service quality. 

In order to enable customers to have 24 hours access to funds on card account, the Bank 

continuous to spread ATM network, so the number of ATMs at the end of this year was 26. In 

relation to the end of 2002 another 13 new machines expanded the ATM network. 

On the other side we have network of card acquiring that at the end of year consisted of 

1.179 POS Terminals, of which 931 POS Terminals with Merchants and 248 POSes for cash 

payments. During 2003 the POS network was extended with another 469 new POS Terminals, 

and through the service for Visa Card acquiring of 78,52% was realised coverage of the trade 

network. 

Signing contract with Visa International on performing Agent business operations for the national 

reconciliation in B&H presents among other things also an acknowledgement to the Bank for its 

contribution in card business development in B&H. 

Integration of RBHPB in the RBBH network, which already offered Diners cards, opened project 

of Diners and signed contract with the Diners Club International about cobranding partnership 

for card issuing and contract on Diners Cards acquiring through our POS network. Full effects 

of this project we expect in 2004. 

With successfully completed migration certification on 3DES for the MasterCard was practically 

opened chip project. 

In order to provide additional functionality for the card business, processing and business 

monitoring, and especially part of technological innovations regarding chip, there were started 

activities regarding choosing and migration for the new card software. 



27


28 

Sektor sredstava 

i finansijskih tržišta 


Poslove u Sektoru sredstava i finansijskih tržišta u 2003. godini determinisalo je niz faktora, počev od 

poslovne politike Banke i budžetom zadanih kategorija, zatim potreba tržišta za razvojem novih proizvoda 

unutar Sektora, kao i razvijanje funkcija povezanih lica sa Bankom, i konačno, izmjena zakonskih propisa u 

segmentu upravljanja obaveznom rezervom, upravljanja deviznim rizikom i usklađivanja ročnih pozicija. 

Organizaciono, Sektor je i dalje zadržao strukturu koja je definisana u prethodnoj godini, unutar koje je 

putem četiri odjeljenja obezbijeđena: 

• Funkcija upravljanja likvidnošću 

• Funkcija trgovanja devizom i efektivom, uključivši plasiranja viška sredstava na ino tržištima 

• Funkcija razvoja korespondentskih i kontokorentnih veza Banke 

• Funkcija prikupljanja dugoročnih izvora od renomiranih ino-kreditora 

• Funkcija depozitarskih poslova. 

U cilju upravljanja tržišnim rizicima, uspostavljen je sistem praćenja tržišnih rizika, deviznog, likvidonosnog 

i rizika kamatne stope. Monitoring i izvještavanje ovih rizika uspostavljeno je kroz Odjeljenje za upravljanje 

rizicima, van Sektora, i po našem mišljenju usvajanjem odgovarajućih tehnika i procedura izvještavanja, 

ovaj vid upravljanja rizicima je adekvatno podržan. 

Projekt osnivanja brokersko-dilerske kuće, Raiffeisen Brokers, čiji je osnivač Raiffeisen Bank dd BiH, vođen 

je iz Sektora sredstava i finansijskih tržišta, a okončan osnivanjem i početkom rada naše brokerske kuće 

u drugom kvartalu 2003. godine. Konačno, potvrda dobre razvojne politike i u dijelu učešća brokerske 

kuće Banke na tržištu kapitala je i ostvareni udio od skoro 20% u prometu vrijednosnih papira u četvrtom 

kvartalu 2003. godine. 

Tokom 2003. godine u Sektoru je permanentno vršena obuka kadrova, počev od osnovnih znanja 

(pripravnika), do usavršavanja iz specijalizovanih oblasti (dilerski, analize finansijskih institucija i sl.). 

Odjeljenje za trgovinu 

Osnovno područje djelovanja ovog odjeljenja je trgovina devizama i efektivom, upravljanje 

dijelom aktive (novčana sredstva) plasiranjem na ino-tržištima, uz poštivanje odgovarajućih limita. 

Trenutnim monitoringom pozicija od strane eksternih odjeljenja koje prate rad ovog, omogućeno je 

upravljanje tržišnim rizicima. 

U cilju zadovoljenja potreba klijenata pravnih lica, kreiran je i proizvod “customer desk” , koji 

omogućuje V.I.P. klijentima Banke trgovinu devizama i oročavanje sredstava po trenutnim cijenama 

sa međunarodnih tržišta. 

Politika kamatnih stopa na depozite u zemlji, inicijalno se vodi iz ovog odjeljenja, čiji je konačan 

rezultat i upravljanje cijenom sredstava. 

Odjeljenje za likvidnost 

Sprovođenje strateških i taktičkih mjera upravljanja likvidnošću, kao i sačinjavanje izvještajnih formi 

u skladu sa propisanim ciljevima i okvirima poslovne politike Banke, osnovna su funkcija ovog 

odjeljenja. Ova funkcija djeluje centralizovano, za sve dijelove mreže Banke.

Treasury and 

Financial Markets Division 

In 2003, business in Treasury and Financial Markets Division was determined by a number of factors, 

starting from the business policy of the Bank and categories envisaged in the Budget, then market needs for 

development of new products within the Division, as well as developing functions of parties related to the 

Bank, and finally, changes in legal provisions in segment of managing legal reserves, FX risk management 

and matching maturity positions. 

Organisationally, The Division maintained its structure defined in previous year, within which through four 

departments the following was provided: 

• Liquidity management function 

• Function of trading in foreign currencies and cash, including the placements of excess 

funds in foreign markets 

• Function of development of correspondent and current account connections of the Bank 

• Function of collecting long-term sources from renown foreign creditors 

• Function of depository business. 

For the purpose of managing market risks, system of monitoring market risks, FX risk, liquidity risk and 

interest rate risk was established. Monitoring and reporting on these risks has been established through 

Risk Management Department outside the Division and, in our opinion, through approval of appropriate 

reporting techniques and procedures, this way of managing risks was adequately supported. 

Project of establishing brokerage-dealing house, Raiffeisen Brokers, whose founder is Raiffeisen Bank dd 

BiH, was managed from Treasury and Financial Markets Division, and it was finished by establishing and 

start-up of our brokerage house in the 2 nd quarter of 2003. Finally, confirmation of good development 

policy in the part of participation of the brokerage house of the Bank in capital market is realised share of 

almost 20% in securities trading in the fourth quarter of 2003. 

During 2003, the staff was constantly trained within the Division, starting from basic skills (interns) to 

improvement in specialised areas (dealing, analyses of financial institutions, etc). 

Trading Department 

Main scope of activity of this Department is trading in foreign currencies and cash, managing part of assets 

(cash) by placing it in foreign markets, respecting the limits. Current monitoring of positions by external 

departments which monitor the work of the aforementioned provided for managing market risks. 

For the purpose of satisfying the needs of corporate customers, the product “customer desk” was created, 

which eanbles V.I.P. customers of the Bank to trade in foreign currencies and deposit funds at current prices 

from the international markets. 

Interest rate policy with respect to deposits within the country is initially managed from this Department, 

whose final output is also managing the price of the funds. 

Liquidity Department 

Implementing strategic and tactical measures of liquidity management, as well as producing reporting 

forms in acordance with prescribed goals and within business policy of the Bank, are main functions this 

Department. This function operates on centralised basis, for all network units. 



29


30 


Zadaci Odjeljenja su slijedeći : 

• upravljanje aktivom u smislu održavanja horizontalne i vertikalne strukture instrumenta aktive 

prema pasivi 

• praćenje, mjerenje i evaluiranje bankarskog instrumentarija za ročno usklađivanje aktive 

pasivom 

• upravljanje pasivom, što uključuje harmonizaciju pasivnih stavki u smislu mjerenja i 

poduzimanja racionalnih bankarskih akcija prema izvorima sredstava 

• održavanje adekvatnog nivoa obavezne rezerve kod CBBiH, za izmirenje tekućih i budućih 

obaveza Banke. 

Izmjena propisa u dijelu održavanja obavezne rezerve (juni 2003.) uticala je na prestrukturiranje 

politika službe, što konačno nije uticalo na ispunjenje strategijom zadanih ciljeva. 

Odjeljenje za korespondentno bankarstvo 

Fokus aktivnosti ovog odjeljenja u 2003. godini bio je akvizicija i ugovaranje dugoročnih kreditnih 

linija sa ino-kreditorima, s ciljem refinansiranja postojeće dugoročne aktive, te obezbjeđenje izvora 

za ciljne kategorije plasmana u 2003. i prvom polugodištu 2004. godine. 

U toku 2003. godine obezbijeđeni su dodatni izvori finansiranja u ukupnom iznosu od EUR 139,1 

mio, uglavnom za finansijsku podršku preduzećima, zatim za finansiranje stambenih kredita, kao i 

za jačanje kapitalne osnove Banke. 

Ugovaranjem novih kreditnih linija i u ovoj godini nastavljena je uspješna poslovna saradnja Banke 

sa nizom finansijskih institucija: Evropskom bankom za obnovu i razvoj (EBRD), Kreditanstalt fuer 

Wiederaufbau (KfW), International Finance Corporation, RZB-om. 

Svakako najznačajniji projekat u 2003. godini je potpisivanje sindiciranog kredita sa EBRD-om 

čime je Bosna i Hercegovina dobila svoj prvi sindicirani kredit vrijedan 45 mio EUR-a. Pored EBRDa 

u sindiciranom kreditu učestvovalo je devet komercijalnih banka. Korištenje ove kreditne linije je 

planirano za 2004. godinu. 

Aktivnosti Odjeljenja su se odvijale i u reviziji kontokorentne i korespondentne mreže Banke, u 

dijelu obezbjeđenja kvalitetnih i troškovno prihvatljivih uslova poslovanja platnog prometa sa 

inostranstvom. 

Konačno, zahvaljujući dugoročnom i partnerskom odnosu sa našim korespondentima, RBBH ima 

na raspolaganju visoke limite za transakcije na tržištu ino-valuta kao i kreditne limite za instrumente 

finansiranja trgovine. 

Odjeljenje za investiciono bankarstvo 

Djelokrug rada ovog odjeljenja u 2003. godini ogledao se u vođenju depozitarskih poslova za 

DUF-ove i PIF-ove, depozitarske poslove za emitente vrijednosnih papira kao i depozitarske poslove 

u prometu vrijednosnim papirima. 

U drugom polugodištu 2003. Banci je od strane Komisije za vrijednosne papire izdata nova dozvola 

za rad, u skladu sa novim Pravilnikom za banke depozitare. 

Imajući u vidu činjenicu da smo Banka depozitar za pet privatizacijskih investionih fondova i osam 

brokerskih kuća u FBiH, kao i da je po ovom osnovu realizovan planirani budžet za 2003. godinu, 

smatramo da smo vodeća Banka u FBiH u ovim poslovima.

Tasks of this Department are as follows: 

• assets management with respect to maintianing horisontal and vertical structure of asset instruments 

compared to liabilities. 

• monitoring, measuring, evaluating set of banking instruments for maturity maching of assets and 

liabilities 

• managing liabilities, which includes harmonising items of liabilities relative to measuring and 

initiating rational banking activities toward sources of funds 

• maintaining adequate level of legal reserves with CBBiH, for the purpose of servicing current and 

future liabilities of the Bank. 

Changes in regulations relative to holding legal reserves (June 2003) influenced restructuring 

the policy of the Department, which finally did not have impact on meeting the targets set in the 

strategy. 

Correspondent Banking Department 

Focus of activities of this Department in 2003 was acqusition and contracting long-term credit lines 

with international creditors, for the purpose of refinancing existing long-term assets and providing 

sources for target categories of placements in 2003 and the first half of the next year. 

In 2003, additional sources of finance were provided in total amount of EUR 139,1 mio EUR, 

mostly for financial support to companies, then for finance of housing loans, as well as for providing 

financial support to capital base of the Bank. 

Through contracting new credit lines, successful business co-operation of the Bank with a number 

of financial institutions has been continued: European Bank for Reconstruction and Development 

(EBRD), Kreditanstalt fuer Wiederaufbau, International Finance Corporation, RZB. Undoubtedly, 

the most important project in 2003 was signing syndicated loan with EBRD, by which Bosnia and 

Herzegovina got its first syndicated loan in amount of 45 mio EUR. Besides EBRD, nine commercial 

banks participated in the syndicated loan. Utilisation of this credit line is planned next year. 

Activities of the Department were also directed to reviewing current account and correspondent 

network of the Bank, in part of providing quality and cost-efficient conditions of business operations 

of the international payments. 

Finally, thanks to long-term and partnership relationship with our correspondents, high limits for 

transactions in foreign currency market are available to RBBH, as well as credit limits for instruments 

of trade finance. 

Investment Banking Department 

Scope of work of this Department in 2003 related to depository business for fund management 

companies and privatisation investment funds, depository business for securities issuers, as well as 

to depository business in securities trading. 

In the second half of 2003, Securities Commission issued new operating permit to the Bank, in 

accordance with the new Rulebook for Depository Banks. 

Having in mind the fact that we are depository bank for five privatisation investment funds and eight 

brokerage houses in FBIH, as well as that planned budget was in this sense realised in 2003, we 

think that we are the leading bank in FBiH in this business. 



31


32 

Sektor za finansije 

i računovodstvo 


Poslovi koji se u Sektoru obavljaju uključuju: vođenje računa - nivo glavne knjige, njihovo funkcionalno 

povezivanje i usklađivanje, knjigovodstveno izvještavanje svih nivoa korisnika, svi poslovi finansijske 

operative, interni odnosi Centrala - filijale. 

Sektor je podijeljen na tri odjeljenja: 

- Odjeljenje za računovodstvo i finansijsko izvještavanje; 

- Odjeljenje za finansijsku operativu; 

- Odjeljenje za odnose s filijalama. 

Odjeljenje za računovodstvo i finansijsko izvještavanje 

U Odjeljenju se usklađuju analitička konta sa stanjem sintetike, prate dozvoljena stanja svakog računa, 

ukazuje na eventualne nelogičnosti stanja i insistira kod nadležnih službi na njihovom otklanjanju. 

Sastavljaju se računovodstveni izvještaji za potrebe regulacione organizacije, izvještaji za potrebe državnih 

organa, za potrebe vlasnika i interne potrebe. 

U ovom odjeljenju u 2003. godini sačinjeno je 430 izvještaja za navedene korisnike. 

Odjeljenje za finansijsku operativu 

Poslovi ovog odjeljenja su uglavnom troškovno knjigovodstvo i vođenje materijalne imovine. Knjiže se i 

izmiruju obaveze po raznim osnovama. 

U 2003. godini proknjiženo je 8.370 naloga. 

Odjeljenje za odnose s filijalama 

Filijale obavljaju poslove za klijente svog područja na osnovu ovlaštenja datih od strane Centrale. U 

Odjeljenju se uspostavlja funkcionalna veza Centrala - Filijala - Centrala preko računa internih odnosa. 

Evidentiraju se poslovni događaji i vrši njihovo eliminisanje za potrebe bilansnih pozicija Banke u konačnom 

obračunu. U Odjeljenju je u 2003. godini evidentirano više od 35.000 promjena.

Finance and Accounting 

Business performed in the Division consist of the following: account maintenance – general ledger level, 

their functional interconnection and harmonisation, bookkeeping reporting of all levels of customers, all 

business of financial operations, internal relations between the head-office and branches. 

The Division is separated in three departments: 

- Accounting and financial reporting; 

- Financial operations; 

- Branches Relationship. 

Accounting and Financial Reporting 

The department performs harmonisation of subledger accounts with synthetic accounts, they monitor 

the allowed balance on each account, indicate possible illogicality and insist on their removal with the 

competent departments. 

The department prepares accounting reports for regulation organisation purposes, reports for the state 

bodies, for owners’ need and in-house needs. 

During 2003 the department prepared 430 reports for the above users. 

Financial operations 

Businesses that are performed within this department mostly consist of cost accounting and maintenance of 

tangible assets. They also enter into books and settle liabilities on different basis. 

During 2003, 8.370 orders were entered into books. 

Branch Relationship 


The branches perform business for customers from their areas on the basis of authorisations issued by the 

head-office. The department establishes the functional relationship between the head-office – branches – 

head-office through accounts for in-house relations. Business events are being registered and their removal 

is done for the needs of balance positions of the Bank in the final statements. In 2003, the department 

registered more than 35.000 changes. 


33


34 

Sektor podrške 

i platnog prometa 


U toku 2003. godine Sektor podrške i platnog prometa bio je usmjeren na optimizaciju funkcija za koje 

je nadležan u mreži RBBH, sve sa ciljem da se naglo povećanje broja transakcija uspješno savlada sa 

postojećim brojem uposlenika u Sektoru. 

Ovaj cilj je uglavnom i postignut. 

Međunarodni platni promet 

Broj transakcija u međunarodnom platnom prometu uvećan je za 27% u odnosu na planirane 

pozicije. Razlog ovome je pripajanje RB HPB Mostar, kao i dalje širenje mreže RBBH. Najznačajnije 

povećanje ostvareno je u doznakama fizičkih lica, te na servisiranju specijalnih računa (nerezidentni 

računi, te računi posebnih projekata). 

I u toku ove godine radnici Sektora, u saradnji sa kolegama iz IT-a, pokrenuli su i realizovali niz 

projekata koji su rezultirali bržim protokom transakcija unutar organizacionih dijelova Banke. 

Nastojalo se da standard i kvalitet usluga bude ujednačen u cijeloj mreži, te su organizovane 

dodatne obuke radnika iz mreže koji obavljaju ovu vrstu poslova. 

Veoma važni koraci postignuti su i na nivou usklađivanja naših platnih naloga sa novim procedurama 

Evropske unije, sa ciljem da se redukuju troškovi koje inozemni korespondenti obračunavaju za 

usluge platnih servisa. SWIFT administratori proveli su u toku godine sve veoma složene pripreme 

za obaveznu migraciju na SWIFT-Net početkom 2004. godine . 

Unutarnji platni promet 

Najmlađa funkcija u RBBH uspješno se nosi sa sve složenijim okruženjem. Ovu godinu obilježilo je 

niz zakonskih i podzakonskih izmjena koje su direktno uticale na Unutarnji platni promet, te radne 

procese učinila znatno složenijim (uvođenje jedinstvenog poreskog broja za pravna lica, objavljivanje 

neaktivnih računa, izmjena propisa za rukovanje gotovinom u RS-u, zakoni koji regulišu kontrolu u 

vezi sa sprečavanjem pranja novca). 

Ukratko, komplikovano društveno političko uređenje BiH, te kontradiktorna globalna i lokalna 

zakonska rješenja ponekad veoma zakomplikuju rad ovome inače veoma dobro organizovanom i 

tehnološki dobro uvezanom odjeljenju. Činjenica da RBBH ima poslovne jedinice u oba entiteta i 

Distriktu Brčko dodatno usložnjava praćenje i primjenu zakonskih propisa na radne procedure koje 

ovo odjeljenje priprema za cijelu mrežu Banke. 

Međutim, izuzetnim zalaganjem radnika i rukovodstva ovog odjeljenja svi zacrtani ciljevi su 

postignuti, uz prebačaj broja procesiranih transakcija u odnosu na plan od 17%. 

Administracija kredita i depozita pravnih lica 

Odjeljenje Administracije kredita i depozita pravnih lica ostvarilo je u ovoj godini značajna 

poboljšanja u izvještajnoj funkciji. Pored toga, učinjen je niz pozitivnih pomaka vezanih za praćenje 

kreditnog portfelja kao što su: 

- automatsko obavještavanje klijenata-dužnika Banke o dospjelim obavezama, 

- ostvareni proceduralno tehnički preduslovi za posebno izdvajanje i čuvanje 

kreditne dokumentacije, 

- zaokružen projekat obračuna zatezne kamate, 

- uspješno prenesen značajan broj kredita u portfelje glavnih filijala, 

- uspješno preuzete dvije tranše otkupljenog portfelja kredita od USAID-a.

Central Processing Division 


During 2003 the Central Processing Division was directed towards optimising functions for which it is in 

charge in the RBBH network, with the purpose to overcome successfully a sudden increase of transactions 

number with the existing number of employees in the Division. 

This goal is mainly achieved. 

International Payments 

Number of transactions in the International Payments increased by 27% in relation to the planed 

positions. The reason for this is merging of the RB HPB Mostar, as well as further extending of the 

network RBBH. The most important increase was realised in bank transfers of individuals and in 

servicing of special accounts (non-residential accounts, and accounts of special projects). 

Also during this year the employees of the Division in co-operation with the colleagues from the IT 

realised a number of projects that resulted with faster flow of transactions within organisational units 

of the Bank. 

They tried to reconcile the standard and the service quality in the whole network, so they organised 

additional employees trainings from the network that perform this kind of operations. 

Very important steps were made also on the level of reconciling our payment orders with the new 

procedure of the European Union, in order to reduce costs that international correspondents 

calculate for the payment services. SWIFT administrators implemented during this year all very 

complex preparations for the obligatory migration on SWIFT-Net at the beginning of 2004. 

Domestic Payments 

The youngest function in RBBH successfully caries out operations in the more and more complex 

environment. This year was marked with a number of legal and sublegal changes that directly 

influenced the Domestic Payments and made performance processes significantly more complicated 

(by introducing a unique tax number for the corporates, announcement of inactive accounts, 

changes of regulations for handling cash in RS, laws that regulate control regarding money laundry 

prevention). 

Shortly, a complicated social and political organisation in BiH, and contradictory global and local 

legal solutions sometimes make work in this otherwise very well organised and technologically well 

connected Division complicated. The fact that RBBH has business units in the both entities and 

Brcko District additionally complicates monitoring and applying of legal regulations on working 

procedures that this Division prepares for the whole network of the Bank. 

However, extreme efforts of the employees and management of this Division made all planed goals 

realised, with transfer of the number of the processed transactions in relation to the plan of 17%. 

Administration Of Loans And Deposits Of Corporates 

The Administration Department of Loans and Deposits of Corporates realised in this year significant 

improvements in the reporting function. Besides, a number of improvements regarding monitoring 

of the loan portfolio such as: 

- Automatic informing of the customers-debtors of the Bank about liabilities due, 

- Realised procedural and technical preconditions for special separating and storing 

of the loan documentation, 

- Finalised project of penalty interest calculation, 

- Successfully transferred number of loans in portfolios of the Main Branches, 

- Successfully taken over two instalments of the purchased loan portfolio from 

the USAID. 


35


36 

Bilans stanja na dan 31. decembra 2003. 


Balance Sheet as of 31 December 2003 

2003. 

(KM 000) 

2003. 

(EUR 000) 

2002. 

(KM 000) 

2002. 

(EUR 000) 

Aktiva 

Assets 

Novac i sredstva kod banaka 

Cash and due from banks 75,561 38,634 77,024 39,382 

Potraživanja od Centralne banke 

Due from the Central Bank 58,063 29,687 19,697 10,071 

Plasmani kod drugih banaka 

Placements with other banks 386,612 197,671 291,817 149,203 

Krediti iz sredstava banke 

Loans originated by the Bank 803,350 410,745 510,178 260,849 

Kupljeni krediti koji se drže do dospijeća 

Purchased loans held to maturity 4,216 2,155 - - 

Potraživanja za obračunatu kamatu 

Accrued interest receivable 4,982 2,547 2,797 1,430 

Ulaganja 

Investments 3,211 1,642 3,031 1,550 

Ostala imovina 

Other assets 25,799 13,191 7,466 3,817 

Neto dugotrajna materijalna 

i nematerijalna imovina 

Fixed and intangible assets 26,269 13,431 18,482 9,449 

UKUPNA AKTIVA 

TOTAL ASSETS 1,388,063 709,703 930,492 475,751 

Obaveze 

Liabilities 

Obaveze prema drugim bankama 

Due to banks 231,248 118,235 52,103 26,640 

Obaveze prema klijentima 

Due to customers 1,016,093 519,518 796,528 407,257 

Rezervisanja za preuzete i potencijalne obaveze 

Provisions 8,879 4,540 7,181 3,671 

Ostale obaveze 

Other liabilities 10,850 5,547 5,689 2,909 

Subordinisani dug 

Subordinates debt 29,337 15,000 9,779 5,000 

UKUPNE OBAVEZE 

TOTAL LIABILITIES 1,296, 407 662,840 871,280 445,477 

Vlasnička glavnica 

Shareholders’ Equity 

Dionički kapital 

Share capital 49,306 25,210 37,622 19,235 

Rezerve i zadržana dobit 

Retained earnings and reserves 42,350 21,653 21,590 11,039 

UKUPNA VLASNIČKA GLAVNICA 

TOTAL SHAREHOLDERS’ EQUITY 91,656 46,863 59,212 30,274 

UKUPNO OBAVEZE I VLASNIČKA GLAVNICA 

TOTAL LIABILITIES AND 

SHAREHOLDERS’ EQUITY 1,388,063 709,703 930,492 475,751

Bilans uspjeha za godinu koja je završila 31. decembra 2003. 

Profit and Loss Account for the Year 31 December 2003 

2003. 

(KM 000) 

2003. 

(EUR 000) 

2002. 

(KM 000) 


2002. 

(EUR 000) 

Prihodi od kamata 

Interest income 88,838 45,422 57,862 29,584 

Rashodi od kamata 

Interest expense ( 25,691) (13,136) (17,179) (8,783) 

Neto prihod od kamata 

Net Interest Income 63,147 32,286 40,683 20,801 

Prihodi od naknada i provizija 

Fee and commission income 30,848 15,772 26,785 13,695 

Rashodi od naknada i provizija 

Fee and commission expense (3,608) (1,845) (2,320) (1,186) 

Neto prihod od naknada i provizija 

Net Fee and Commission Income 27,240 13,927 24,465 12,509 

Neto dobit iz financijskog poslovanja 

Net trading income 5,263 2,691 5,785 2,958 

Ostali poslovni prihodi 

Other operating income 396 203 208 106 

Naplaćena otpisana potraživanja 

Collected write-offs 3,012 1,540 1,462 747 

Prihod iz redovnog poslovanja 

Operating income 99,058 50,647 72,603 37,121 

Opšti i administrativni troškovi 

General and administrative expense (55,147) (28,196) (37,970) (19,414) 

Trošak amortizacije 

Depreciation and amortization expense (4,666) (2,386) (2,604) (1,331) 

Rashodi iz redovnog poslovanja 

Operating Expense (59,813) (30,582) (40,574) (20,745) 

DOBIT PRIJE REZERVISANJA 

I POREZA NA DOBIT 

PROFIT BEFORE IMPAIRMENT LOSSES, 

PROVISIONS AND INCOME TAXES 39,245 20,065 32,029 16,376 

Rezervisanja za umanjenja vrijednosti 

Impairment losses and provisions (18,974) (9,701) (17,185) (8,786) 

DOBIT PRIJE POREZA NA DOBIT 

PROFIT BEFORE INCOME TAXES 20,271 10,364 14,844 7,590 

Porez na dobit 

Income taxes - - - - 

NETO DOBIT GODINE 

NET PROFIT FOR THE PERIOD 20,271 10,364 14,844 7,590 

OSNOVNA ZARADA PO DIONICI 

BASIC EARNINGS PER SHARE 113 58 127 65 


37


38 

Značajni finansijski pokazatelji 


Key Financial Highlights 

Prikazani podaci navedeni su ili izračunati temeljem 

revidiranih finansijskih izvještaja Banke. 

Na kraju godine 

At the year end 

2003. 

000 KM 

2003. 

000 EUR 

2002. 

000 KM 

2002. 

000 EUR 

Ukupna aktiva 

Total assets 1,388,063 709,703 930,492 475,751 

Dionički kapital i rezerve 

Shareholders funds 91,656 46,863 59,212 30,274 

Godišnji rezultati 

Results for the year 

The figures shown below are extracted or recomputed 

from the Bank’s audited financial statements. 

Ukupan prihod 

Total income 102,666 52,492 74,923 38,308 

Dobit prije oporezivanja 

Profit before taxation 20,271 10,364 14,844 7,590 

Dobit poslije oporezivanja 

Profit after taxation 20,271 10,364 14,844 7,590 

Pokazatelji 

Ratios % % 

Povrat na aktivu 

Return on Assets (ROA) 1,7 1,7 

Povrat na kapital 

Return on Equity (ROE) 28 35,2

Petogodišnja usporedba finansijskih pokazatelja 

Financial highlights for the five year period 

2003. 

000 KM 

Iz Bilansa stanja i Računa dobiti i gubitka 

From the balance sheet and profit and loss account 

2002. 

000 KM 

2001. 

000 KM 

2000. 

000 KM 


1999. 

000 KM 

Ukupna aktiva 

Total assets 1,388,063 930,492 744,278 224,591 142,009 


Share capital 49,306 37,622 25,100 22,089 14,614 


Shareholders funds 91,656 59,212 34,683 26,836 17,950 

Depoziti komitenata 

Customer deposits 1,016,093 796,528 634,628 174,965 111,877 

Krediti komitentima 

Loans to customers 803,350 510,178 273,296 107,211 55,746 

Ukupan prihod 

Total income 102,666 74,923 46,077 23,229 14,359 

Ukupni troškovi poslovanja 

Total operating expenses 82,395 60,079 40,005 18,849 11,564 

Dobit / (gubitak) prije oporezivanja 

Profit / (loss) before taxation 20,271 14,844 6,072 4,380 2,795 

Dobit / (gubitak) poslije oporezivanja 

Profit / (loss) after taxation 20,271 14,844 6,072 4,014 2,753 

2003. 

000 EUR 

Iz Bilansa stanja i Računa dobiti i gubitka 

From the balance sheet and profit and loss account 

2002. 

000 EUR 

2001. 

000 EUR 

2000. 

000 EUR 

1999. 

000 EUR 

Ukupna aktiva 

Total assets 709,703 475,751 380,542 114,832 72,608 


Share capital 25,210 19,235 12,833 11,294 7,472 


Shareholders funds 46,863 30,274 17,733 13,721 9,178 


Customer deposits 519,518 407,257 324,479 89,458 57,202 

Krediti komitentima 

Loans to customers 410,745 260,849 139,734 54,816 28,502 

Ukupan prihod 

Total income 52,492 38,308 23,558 11,877 7,342 

Ukupni troškovi poslovanja 

Total operating expenses 42,128 30,718 20,453 9,637 5,913 

Dobit / (gubitak) prije oporezivanja 

Profit / (loss) before taxation 10,364 7,590 3,105 2,239 1,429 

Dobit / (gubitak) poslije oporezivanja 

Profit / (loss) after taxation 10,364 7,590 3,105 2,052 1,408 


39


40 

Ukupna aktiva 

Total assets 

Ukupna aktiva 

Total assets 


2003. 2002. 2001. 2000. 1999. 

1,388,063 930,492 744,278 224,591 142,009 000 KM 

709,703 475,751 380,542 114,832 72,608 000 EUR

Ukupan prihod 

Total income 

Ukupan prihod 

Total income 

2003. 2002. 2001. 2000. 1999. 

102,666 74,923 46,077 23,229 14,359 000 KM 

52,492 38,308 23,558 11,877 7,342 000 EUR 



41


42 

Operativni rezultati 

Poslovanje Banke posljednih godina karakterizira 

konstantan uspon poslovanja. U 2003. godini Banka 

je ostvarila pozitivan finansijski rezultat u iznosu od 

20.271.000,00 KM, što u odnosu na prethodnu 

godinu predstavlja povećanje od 37%. 

Troškovi poslovanja u 2003. godini dosegli su 

iznos od 82.395.000,00 KM, što u poređenju sa 

prethodnom godinom predstavlja povećanje od 37% 

(u 2002. godini troškovi poslovanja su, u odnosu na 

2001., povećani za 51%). 

Ukupan prihod Banke u 2003. godini iznosio je 

102.666.000,00 KM, što u odnosu na prihod 

prethodne godine predstavlja povećanje od 37% 

(u 2002. godini ukupni prihod je povećan za 63%). 

Najveći udio u strukturi ukupnih prihoda u 2003. 

godini imaju neto prihodi od kamata 62%, a najveće 

povećanje u odnosu na 2002. godinu bilježe neto 

prihodi od kamata 55% (u 2002. godini taj rast u 

odnosu na 2001. je iznosio 88%). Banka se strateški 

orjentira ka kreditnom podržavanju privrede i 

stanovništva. 


Operating results 

The characteristic of the Bank business in the last 

years is continuous growth in banking operations. 

In 2003 the Bank achieved positive financial result 

in the amount of KM 20.271.000,00 which in 

comparison to the previous year means increase 

by 37%. 

Operating costs in 2003 reached the amount of 

KM 82.395.000,00 which is in comparison to 

the previous year, the increase of 37% (in 2002 

operating costs increased by 51% in comparison 

to 2001). 

Total bank revenue in 2003 amounted KM 

102.666.000,00 which is an increase of 37% in 

comparison to the previous year revenue (in 2002 

total revenue increased by 63%). 

The biggest share in the structure of total income 

in 2003 take net interest income 62% and also the 

biggest increase in comparasion to 2002 occurred 

in net interest income 55% ( in 2002 that growth 

amounted 88%). The Bank is strategical oriented to 

providing the retail and corporate financial support.

Struktura ukupnih prihoda 

Structure of total income 

Neto prihod od kamata 

Net interest income 

Prihod od provizija 

Commission income 

Ostali prihodi iz poslovanja 

Other operating income 

2003. 2002. 2001. 2000. 1999. 

63,147 40,683 21,603 9,396 5,135 000 KM 

32,286 20,801 11,045 4,804 2,625 000 EUR 

30,848 26,785 18,581 9,515 7,007 000 KM 

15,772 13,695 9,500 4,865 3,583 000 EUR 

8,671 7,455 5,893 4,318 2,217 000 KM 

4,434 3,812 3,013 2,208 1,134 000 EUR 



43


44 

Usporedba troškova poslovanja i ukupnih prihoda 

Comparasion of operating expenses and total income 

Troškovi poslovanja 

Operating expenses 

Ukupan prihod 

Total income 


2003. 2002. 2001. 2000. 1999. 

82,395 60,079 40,005 18,849 11,564 000 KM 

42,128 30,718 20,453 9,637 5,913 000 EUR 

102,666 74,923 46,077 23,229 14,359 000 KM 

52,492 38,308 23,558 11,877 7,342 000 EUR

Ukupna aktiva 

U toku 2003. ukupna aktiva Banke uvećana je za 

49% u odnosu na prethodnu godinu. 

Kao što se može primijetiti u donjem grafičkom 

prikazu, krediti komitentima preovladavaju u 

strukturi aktive Banke, sa udjelom od 58% ukupne 

aktive. 

Struktura ukupne aktive banke 

Structure of total assets 

Total assets 

The total assets are increased by 49% in 2003 in 

relation to the previous year. 

As it can be seen from chart below, loans to client 

are predominant in the assets structure with 58% 

out of total assets. 



45


46 

Izvori finansiranja 

U strukturi izvora finansiranja najvećim dijelom 

učestvuju fizička lica 42%, te je u odnosu na prošlu 

godinu zabilježen rast depozita fizičkih lica od 44%. 


Funds sources 

In the structure of sources of funds the biggest 

participants are individuals 42% and in comparison 

to the previous year the growth of individual deposits 

of 44% is registered.

Kreditiranje 

Kreditiranje preduzeća 

Banka je i u 2003. godini pružila podršku poslovanju 

pravnih lica u BiH, u vidu finansijske podrške, 

kroz odobravanje kratkoročnih i dugoročnih 

kredita, kao i izdavanjem garancija i akreditiva. 

Takođe, klijenti su imali mogućnost korištenja i 

tzv. trgovačkih olakšica kroz garantno-akreditivne 

proizvode Banke pokrivene od prvoklasne evropske 

banke. 

Pružena finansijska podrška klijentima rezultirala 

je povećanjem kreditnog portfelja pravnih lica 

za 41% ili 107,3 miliona KM u odnosu na prethodnu 

godinu, dok je garantno-akreditvni portfelj 

povećan za 6% ili 7,9 miliona KM. 

Krajem 2003. godine 2.714 klijenata koristilo je 

kreditno-garantne proizvode Banke, što je za 53% 

više u odnosu na kraj prethodne godine. 

Potražnja klijenata za dugoročnim kreditima, 

kao i nastojanja Banke da iznađe mogućnosti 

kako bi udovoljila zahtjevima klijenata, rezultirali 

su da u strukturi kreditnog portfelja pravnih lica 

sa 31.12.2003. godine odnos kratkoročnih i 

dugoročnih kredita iznosi 46:54 u korist dugoročnih 

kredita. 

Krajem 2003. godine Banka je imala ukupno 4.324 

odobrena kratkoročna i dugoročna kredita. U dijelu 

garantno-akreditivnog poslovanja, Banka je u toku 

2003. godine odobrila ukupno 3.313 garancija 

i 412 akreditiva. Krajem 2003. godine Banka je 

imala odobreno 1.510 garancija i akreditiva (od 

čega 1.381 garanciju i 129 akreditiva), što je za 

20% više u odnosu na kraj prethodne godine. 

Banka će i u narednom periodu nastaviti aktivnosti 

na iznalaženju mogućnosti pružanja podrške 

poslovanju pravnih lica u BiH, a u skladu sa 

njihovim zahtjevima i potrebama. 

Credit Financing 

Credits to companies 

In 2003 the Bank provided support in business 

operations of corporates in BiH, in the form of 

financial support, by approving short-term and 

long-term loans, as well as by issuing guarantees 

and L/Cs. Also the customers to use so called trade 

reductions through guarantee and L/C products of 

the Bank covered by the first class European Bank. 

The provided financial support to the customer 

resulted by increase of credit portfolio of corporate 

by 41% or 107,3 mill KM in relation to the previous 

year, while the guarantee and L/C portfolio was 

increased by 6% or 7,9 mill KM. 

By the end of 2003 2.714 customers were using 

loan and guarantee products of the Bank, which is 

by 53% more in relation to the end of the previous 

year. 

Receivables of the customer with long-term loans, 

as well as determination of the Bank to find 

possibility to satisfy requirements of the customers, 

resulted with relationship of short-term and longterm 

loans 46:54 in favour of long-term loans in 

the structure of the loan portfolio of corporates as 

of 31.12.2003. 

By the end of 2003 the Bank had total 4.324 

approved short-term and long-term loans. In the 

part of guarantee and L/C business operations, 

the Bank during 2003 approved total 3.313 

guarantees and 412 L/Cs. By the end of 2003 

the Bank had approved 1.510 guaranteed and 

L/Cs (of which 1.381 guarantees and 129 L/Cs), 

which is by 20% more in relation to the end of the 

previous year. 

In the following period the Bank will continue with 

activities in finding possibilities to provide support 

in business operations of the corporates in BiH, 

and in accordance with their requests and needs. 



47


48 

Kreditiranje stanovništva 

Početkom 2003. godine povučena je prva tranša 

iz IFC kreditne linije namijenjene za stambene 

kredite fizičkim licima, u iznosu 7.500.000,00 

EUR-a (14.669.000,00 KM), koja je do kraja 

godine gotovo u potpunosti iskorištena. Takođe, 

u toku 2003. godine povučene su dvije nove 

tranše KfW kreditne linije u iznosima 500.000,00 

EUR-a (978.000,00 KM) i 700.000,00 EUR-a 

(1.369.000,00 KM) namijenjene za stambene 

kredite. 

Prvu polovinu 2003. godine obilježio je intenzivan 

rast kreditnog portfelja stanovništva, a onda 

se Banka opredijelila da uspori rast kreditnog 

portfelja, s ciljem da se dobiju odgovarajući omjeri 

u strukturi aktive i pasive, odnosno da se popravi 

kvalitet kreditnog portfelja u smislu smanjenja 

stope rezervisanja, i to na način fokusiranja na 

ciljne klijente. U skladu sa navedenim, period 

august-decembar 2003. godine obilježilo je 

konstantno, ali blago smanjenje kreditnog portfelja 

stanovništva. 

No i pored toga, bruto kreditni portfelj stanovništva 

na kraju 2003. godine iznosio je 462.314.000,00 

KM (236.377.000,00 EUR-a), što je predstavljalo 

povećanje u iznosu od 87.234,000 odnosno za 

9% u odnosu na plan za 2003. godinu. U strukturi 

ukupnog kreditnog portfelja, kratkoročni krediti 

učestvovali su sa 2,6%, a dugoročni krediti sa 

97,4%. Stanje kreditnog portfelja na kraju 2003. 

godine je bilo za 23,26% veće od stanja u 2002. 

godini. 

Kao rezultat navedenih aktivnosti u segmentu 

kreditiranja stanovništva, kreditni portfelj Banke je 

dostigao 27,49% svih kredita datih fizičkim licima 

u komercijalnim bankama na području Federacije 

BiH, a 23,32% kreditnog portfelja stanovništva u 

komercijalnim bankama na području cijele Bosne 

i Hercegovine. 


Retail lending 

At the beginning of 2003 was withdrawn the 

first instalment from the IFC credit line meant for 

housing loans for individuals in the amount of 

7.500.000,00 EUR (14.669.000,00 KM), which 

was by the end of the year totally utilised. Also, 

during 2003 were withdrawn two new instalments 

of the KfW credit line in the amounts of 500.000,00 

EUR (978.000,00 KM) and 700.000,00 EUR 

(1.369.000,00 KM) meant for housing loans. 

The first half of 2003 recorded an intensive growth 

of the retail loan portfolio and than the Bank chose 

to slow down the growth of the loan portfolio in 

order to obtain certain ration in the structure of 

assets and liabilities, i.e. to improve the quality of 

the loan portfolio in terms of reducing provisions 

rate, and in the way to focus on target customers. 

In accordance with above mentioned the period 

August-December 2003 recorded constant but 

slight reduction of the retail loan portfolio. 

Still beside that, gross retail loan portfolio at the 

end of 2003 amounted 462.314.000,00 KM 

(236.377.000,00 EUR), which presented an 

increase in the amount of 87.234,000, i.e. by 9% 

in relation to the plan for 2003. In the structure 

of the total loan portfolio, the short-term loan 

participated with 2,6%, and long-term loans with 

97,4%. The state of the loan portfolio at the end of 

2003 was by 23,26% higher than in 2002. 

As result of the mentioned activities in the retail 

crediting segment, the loan portfolio of the Bank 

reached 27,49% of all loans granted to the 

individuals in commercial banks in the area of 

Federation B&H, and 23,32% of the retail loan 

portfolio in commercial banks in the area of the 

whole B&H.

Bruto vrijednost kredita 

Gross Value of Loans 

2003 

000 KM 

2003 

000 EUR 

Bruto vrijednost kredita 

Gross Value of Loans 

2002 

000 KM 


Promjena 

Change (%) 

2002 

000 EUR % 

Krediti preduzećima 

Loans to companies 354,529 181,267 209,065 106,893 70 

Krediti stanovništvu 

Loans to Individuals 486,928 248,961 324,165 165,742 50 

Ukupno 

Total 841,457 430,228 533,230 272,635 58 

Rezerviranja za moguće gubitke 

po kreditima 

Provision for Possible 

Loan Losses 38,107 19,484 23,052 11,786 

Neto vrijednost kredita 

Net Value of Loans 803,350 410,744 510,178 260,849 57 


49


50 

Obaveze i kapital 

Liabilities and funds employed 

Tuđa sredstva 

Other sources of funds 



Customer deposits 

2003. 

000 KM 

2003. 

000 EUR 

2002. 

000 KM 

2002. 

000 EUR 

2001. 

000 KM 

2001. 

000 EUR 

2000. 

000 KM 


2000 

000 EUR 

Depoziti preduzeća 

Deposits from companies 436,128 222,988 393,644 201,266 288,991 147,758 134,799 68,922 

Depoziti stanovništva 

Deposits from individuals 579,965 296,530 402,884 205,991 345,637 176,721 40,166 20,537 


51


52 

Depoziti preduzeća 

Deposits from companies 


2003. 

000 KM 

2003. 

000 EUR 

2002. 

000 KM 

2002. 

000 EUR 

2001. 

000 KM 

2001. 

000 EUR 

2000. 

000 KM 

2000 

000 EUR 

Oročeni depoziti 

Term deposits 106,322 54,361 75,866 38,789 49,217 25,164 39,916 20,409 

Depoziti po viđenju 

Demand deposits 329,806 168,627 317,778 162,477 239,774 122,594 94,883 48,513

Depoziti stanovništva 

Deposits from individuals 

Oročeni depoziti 

Term deposits 

Depoziti po viđenju 

Demand deposits 

2003. 

000 KM 

2003. 

000 EUR 

2002. 

000 KM 

2002. 

000 EUR 

2001. 

000 KM 

2001. 

000 EUR 

2000. 

000 KM 


2000. 

000 EUR 

324,648 165,989 223,959 114,508 236,606 120,974 26,710 13,657 

255,317 130,541 178,925 91,483 109,031 55,747 13,456 6,880 


53


54 




55


56 




57


58 

Centrala i filijale 

Head Office and Branches 


CENTRALA Sarajevo 

Head Office 

Danijela Ozme 3 

Tel: + 387 33 287 100, 287 121, 287 499 

Fax: + 387 33 213 851 

Raiffeisen direkt info: + 387 33 26 80 80 

E-mail: info.rbbh@rbb-sarajevo.raiffeisen.at 

Internet: www.raiffeisenbank.ba 

Filijale 

Branches 

Sarajevo 

Mehmeda Spahe 3 

71 000 Sarajevo 

Goražde 

Titova bb 

73 000 Goražde 

Banja Luka 

Vase Pelagića 10 

78 000 Banja Luka 

Prijedor 

Vožda Karađorđa 14 

79 101 Prijedor 

Gradiška 

Vidovdanska bb 

78 400 Gradiška 

Tuzla 

Turalibegova 22 

75 000 Tuzla 

Orašje 

V Ulica 19a 

76 270 Orašje 

Bijeljina 

Majevička 102 

76 300 Bijeljina 

Mostar 

Kneza Domagoja bb 

88 000 Mostar 

Trebinje 

Cara Dušana 1 

89 101 Trebinje 

Livno 

Trg Kralja Tomislava bb 

80 101 Livno 

Široki Brijeg 

Zaobilaznica bb 

88 220 Široki Brijeg 

Bihać 

Bosanskih banova 11 

77 000 Bihać 

Cazin 

Generala Izeta Nanića bb 

77 220 Cazin 

Sanski Most 

Prijedorska 2 

79 260 Sanski Most 

Zenica 

Mehmedalije Tarabara 15 

72 000 Zenica 

Kakanj 

Zgošćanska P+4+M 

72 240 Kakanj 

Vitez 

Poslovni centar PC 96 

72 250 Vitez 

Žepče 

Stjepana Tomaševića bb 

72 230 Žepče 

Visoko 

Zanatski centar “Sebilj” 

71 300 Visoko 

Tešanj 

Maršala Tita 9 

74 260 Tešanj 

Brčko 

Bulevar mira bb 

76 100 Brčko

Adresar 

Addresses 

Raiffeisen Zentralbank 

Österreich AG 

Austria 

Head Office 

1030 Vienna, Am Stadtpark 9 

Postal address: 1011 Vienna, P.O.B. 50 

Phone: (+43-1) 71 707-0 

Fax: (+43-1) 71 707-1715 

SWIFT/BIC: RZBAATWW 

www.rzb.at 

Contact: 

Austrian Corporate Customers 

Joseph Eberle 

Phone: (+43-1) 71 707-1487 

joseph.eberle@rzb.at 

Multinational Corporate Customers 

Peter Bazil 

Phone: (+43-1) 71 707-1547 

peter.bazil@rzb.at 

Corporate Customers in Central and 

Eastern Europe 

Christian Theuer 

Phone: (+43-1) 71 707-1462 

christian.theuer@rzb.at 

Global Financial Institutions and Sovereigns 

Martin Czurda 

Phone: (+43-1) 71 707-1120 

martin.czurda@rzb.at 

Transaction Services 

Günther Gall 

Phone: (+43-1) 71 707-1168 

guenther.gall@rzb.at 

Trade and Export Finance 

Peter Lennkh 

Phone: (+43-1) 71707-1709 

peter.lennkh@rzb.at 

Investment Banking/Fixed Income 

Christian Säckl 

Phone: (+43-1) 71 707-3347 

christian.saeckl@rzb.at 

United Kingdom 

London Branch 

King William Street 10, London EC4N 7TW 

Phone: (+ 44-20) 7933 8000 

Fax: (+ 44-20) 7933 8099 

SWIFT/BIC: RZBAGB2Lwww.london.rzb.at 

Contact: Wladimir Ledochowski 

wladimir.ledochowski@uk.rzb.at 

U.S.A. 

RZB Finance LLC – New York 

1133, Avenue of the Americas, 16th floor, New 

York, N.Y. 10036 

Phone: (+1-212) 845 4100 

Fax: (+1-212) 944 2093 

www.rzbfinance.com 

Contact: Dieter Beintrexler 

dbeintrexler@rzbfinance.com 

Office in Bethel, Connecticut 

People’s Republic of China 

Beijing Branch 

Beijing International Club, Suite 200 

21 Jianguomenwai Dajie, Beijing, 100020 

Phone: (+86-10) 6532 3388 

Fax (+86-10) 6532 5926 

Telex: 22074 RZBCN BJ 

SWIFT/BIC: RZBACNBJ 

Contact: Andreas Werner 

andreas.werner@rzb-china.raiffeisen.at 

Singapore 

Singapore Branch 

50, Raffles Place #45-01 

Singapore Land Tower, Singapore 048623 

Phone: (+65) 6225 9578 

Fax: (+65) 6225 3973 

SWIFT/BIC: RZBASGSG 

Contact: Rainer Šilhavý 

rainer.silhavy@rzb-singapore.raiffeisen.at 

CEE-Desk: Christof Grabner 

christof.grabner@rzb-singapore.raiffeisen.at 



59


60 


Banking Network in Europe 

Albania 

Savings Bank of Albania 

(Banka e Kursimeve) 

Rruga „Deshmoret e 4 Shkurtit“ Nr.6, Tirana 

Phone: (+355) 4 223 695 

Fax (+355) 4 224 972 

Telex: 2192SA BANK AB 

SWIFT/BIC: SGBALTX 

www.bkursimeve.com.al 

Contact: Ardian Kamberi 

akamberi@bkursimeve.com.al 

97 banking outlets 

Belarus 

Priorbank, JSC 

31–A, V. Khoruzhey Str., Minsk, 220002 

Phone: (+375-17) 269 09 64, 217 34 01 

Fax (+375-17) 234 80 72, 234 15 54 

Telex: 68 12 52 268 

SWIFT/BIC: PJCBBY2X 

www.priorbank.by 

Contact: Olga Gelakhova 

olga.gelakhova @priorbank.by 


Bosnia and Herzegovina 


Danijela Ozme 3, 71000 Sarajevo 

Phone: (+387-33) 287-100, 287-121 

Fax: (+387-33) 213 851SWIFT/BIC: 

RZBABA2S 


Contact: Edin Muftić 

edin.muftic@rbb-sarajevo.raiffeisen.at 


Bulgaria 

Raiffeisenbank (Bulgaria) A.D. 

18/20 Gogol Ulica, 1504 Sofia 

Phone: (+359-2) 919 85 101 

Fax: (+359-2) 943 45 28 

Telex: 22006 

SWIFT/BIC: RZBBBGSF 

www.rbb.bg 

Contact: Momtchil Andreev 

momtchil.andreev@rbb-sofia.raiffeisen.at 


Croatia 

Raiffeisenbank Austria d.d. 

Petrinjska 59, 10000 Zagreb 

Phone: (+385-1) 456 64 66 

Fax: (+385-1) 481 16 24 

SWIFT/BIC: RZBHHR2X 

www.rba.hr 

Contact: Lovorka Penavić 

lovorka.penavic@rba-zagreb.raiffeisen.at 


Czech Republic 

Raiffeisenbank a.s. 

Olbrachtova 2006/9, 140 21 Praha 4 

Phone: (+420-2) 221 141 111 

Fax: (+420-2) 221 142 111 

SWIFT/BIC: RZBCCZPP 

www.rb.cz 

Contact: Ing. Rudolf Rabicák 

rudolf.rabinak@rb.cz 


Hungary 

Raiffeisen Bank Rt. 

Akadémia utca 6, 1054 Budapest 

Phone: (+36-1) 484 44 00 

Fax: (+36-1) 484 44 44 

Telex: 223123 

SWIFT/BIC: UBRTHUHB 

www.raiffeisen.hu 

Contact: Richárd Magasy 

rmagasy@raiffeisen.hu 


Kosovo 

Raiffeisen Bank Kosovo JSC 

Migjeni 1, Pristina 

Phone: (+381-38) 226 400 

Fax: (+381-38) 226 408 

SWIFT/BIC: RBKOCS22 

www.raiffeisen-kosovo.com 

Contact: Steven Grunerud 

steven.grunerud@raiffeisen-kosovo.com 

16 banking outlets

Malta 

Raiffeisen Malta Bank plc 

71, II-Piazzetta, Tower Road, Sliema SLM 16, 

Malta 

Phone: (+ 356) 21 320 942 

Fax: (+ 356) 21 320 954 

Contact: Anthony C. Schembri 

anthony.schembri@rmb-malta.raiffeisen.at 

Poland 

Raiffeisen Bank Polska S.A. 

Ul. Piekna 20, 00-549 Warszawa 

Phone: (+48-22) 585 20 00 

Fax: (+48-22) 585 25 85 

Telex: 023 479506 

SWIFT/BIC: RCBWPLPW 

www.raiffeisen.pl 

Contact: Piotr Czarnecki 

piotr.czarnecki@raiffeisen.pl 


Romania 

Raiffeisen Bank S.A. 

44, Mircea Voda Blvd., 030669 Bucureşti 3 

Phone. (+40-21) 323 00 31 

Fax (+40-21) 323 60 27 

SWIFT/BIC: RZBRROBU 

www.raiffeisen.ro 

Contact: Steven C. van Groningen 

centrala@raiffeisen.ro 


Russia 

ZAO Raiffeisenbank Austria 

Troitskaya Ul. 17/1, 129090 Moskwa 

Phone: (+7-095) 721 99 00 

Fax: (+7-095) 721 99 01 

Telex: 914617 RAIFF RU 

SWIFT/BIC: RZBMRUMM 

www.raiffeisen.ru 

Contact: Michel Perhirin 

michel.perhirin@raiffeisen.ru 


Serbia and Montenegro 

Raiffeisenbank a.d. 

Resavska 22, 11000 Beograd 

Phone: (+381-11) 320 21 00 

Fax: (+381-11) 320 21 79 

SWIFT/BIC: RZBJCSBG 

www.raiffeisenbank.co.yu 

Contacts:Budimir Kostić 

budimir.kostic@rba-belgrade.raiffeisen.at 

Oliver Rögl 

oliver.roegl@rba-belgrade.raiffeisen.at 


Slovak Republic 

Tatra banka, a.s. 

Hodžovo námestie 3, 811 06 Bratislava 1 

Phone: (+421-2) 59 19 1111 

Fax: (+421-2) 59 19 1110 

Telex: 926 44 TATR SK 

SWIFT/BIC: TATRSKBX 

www.tatrabanka.sk 

Contact: Rainer Franz 

rainer_franz@tatrabanka.sk 


Slovenia 

Raiffeisen Krekova Banka d.d. 

Slomškov trg 18, 2000 Maribor 

Phone: (+ 386-2) 2293100 

Fax: (+386-2) 2524779 

SWIFT/BIC: KREKSI22 

www.r-kb.si 

Contact: Aleš Žajdela 

ales.zajdela@r-kb.si 


Ukraine 

JSCB Raiffeisenbank Ukraine 

43 Zhylyanska St, Kiev 

UA-01033 

Phone: (+ 380-44) 490 11 77 

Fax (+380-44) 490 05 01 

Telex: 51 94049084 RFBU G 

SWIFT/BIC: RZBUUAUK 

www.raiffeisenbank.com.ua 

Contact: Clemens Lehr 

clemens.lehr@rbu-kiev.raiffeisen.at 




61


62 


Representative offices in 

Europe 

Belgium 

Brussels 

Rue du Commerce 20-22, 1000 Bruxelles 

Phone: (+32-2) 549 06 78 

Fax: (+32-2) 502 64 07 

Contact: Helga Steinberger 

raiffbxl@raiffeisenbrussels.be 

France 

Paris 

9-11, Avenue Franklin Roosevelt 

75008 Paris 

Phone: (+ 33-1) 456 127 00 

Fax: (+33-1) 456 116 06 

www.rzb.com.fr 

Contact: Vera Sturman 

vera.sturman@rzb-france.raiffeisen.at 

Italy 

Milan 

Via Andrea Costa 2, 20131 Milano 

Phone: (+39-02) 280 406 46 

Fax: (+39-02) 280 406 58 

www.rzb.it 

Contact: Maurizio Uggeri 

maurizio.uggeri@rzb-italy.raiffeisen.at 

Lithuania 

Vilnius (Raiffeisen Bank Polska S.A.) 

A. Jaksto Street 12, 2001 Vilnius 

Phone: (+370-5) 2 666 600 

Fax: (+370-5) 2 666 601 

www.raiffeisen.lt 

Contact: Przemysław Goldman 

przemyslaw.goldman@raiffeisen.pl 

Russia 

Moscow 

Pretchistensky Pereulok, 14, Building 1, 119034 

Moskwa 

Phone: (+7-095) 721 99 03 

Fax: (+7-095) 721 99 07 

Contact: Evgheny Rabovsky 

erabovsky@raiffeisen.ru 

Representative offices in 

America and Asia 

U.S.A. 

New York 

1133, Avenue of the Americas 

16th floor, New York, N.Y. 10036 

Phone: (+1-212) 593 75 93 

Fax: (+1-212) 593 98 70 

Contact: Dieter Beintrexler 

dieter.beintrexler@rzb-newyork.raiffeisen.at 

Houston (RZB Finance LLC) 

10777, Westheimer, Suite 1100 

Houston, Texas 77042 

Phone: (+1-713) 260 96 97 

Fax: (+1-713) 260 96 02 

Contact: Stephen A. Plauche 

splauche@rzbfinance.com 

Chicago (RZB Finance LLC) 

10N. Martingale Road, Suite 400 

Schaumburg, IL 60173 

Phone: (+1-847) 466 10 43 

Fax: (+1-847) 466 12 95 

Contact: Charles T. Hiatt 

chiatt@rzbfinance.com 

India 

Mumbai 

87, Maker Chamber VI 

Nariman Point, 400021 Mumbai 

Phone: (+91-22) 5630 1700 

Fax: (+91-22) 5632 1982 

Contact: Anupam Johri 

anupam.johri@rzb-india.raiffeisen.at 

Iran 

Tehran 

Vanak, North Shirazi Avenue 

16, Ladan Str., 19917 Tehran 

Phone: (+98-21) 804 6767-2 

Fax: (+98-21) 803 6788 

Contact: Gerd Wolf 

unico@sayareh.com

People’s Republic of China 

Hong Kong 

Lippo Centre, 89, Queensway 

Unit 2001, 20th floor, Tower 1 

Hong Kong 

Phone: (+85-2) 2730-2112 

Fax (+85-2) 2730-6028 

Contact: Edmond Wong 

edmond.wong@rzb-hongkong.raiffeisen.at 

South Korea 

Seoul 

Leema Building, 8th floor, 146-1 

Soosong-dong 

Chongro-ku, 110-755 Seoul 

Phone: (+82-2) 398 58 40 

Fax: (+82-2) 398 58 07 

Contact: Kun II Chung 

kun-il.chung@rzb-korea.raiffeisen.at 

Vietnam 

Ho Chi Minh City 

6, Phung Khac Khoan Str., District 1 

Room G6, Ho Chi Minh City 

Phone: (+848) 8297 934 und 8256 660 

Mobile: (+84) 90390 5757, 

Fax: (+848) 822 13 18 

Contact: Ta Thi Kim Thanh 

ivnatht@rzb-vietnam.raiffeisen.at 

Investment Banking 

Austria 

Raiffeisen Zentralbank Österreich AG 

Investment Banking/Fixed Income 

Am Stadtpark 9, 1030 Vienna 

Phone: (+43-1) 717 07-3347 

Fax: (+43-1) 717 07-1715 

www.rzb.at 

Contact: Christian Säckl 

christian.saeckl@rzb.at 

Raiffeisen Centrobank AG 

Investment Banking/Equity 

Tegetthoffstr. 1, 1015 Vienna 

Phone: (+43-1) 515 20-0 

Fax: (+43-1) 513 43 96 

www.rcb.at 

Contact: Gerhard Vogt 

vogt@rcb.at 

Raiffeisen Investment AG 

Tegetthoffstr. 1, 1010 Vienna 

Phone: (+43-1) 710 5400-0 

Fax: (+43-1) 710 5400-39 

www.raiffeiseninvestment.at 

Contact: Heinz Sernetz 

h.sernetz@riag.at 

Subsidiaries in Banja Luka, Belgrade, Bucharest, 

Budapest, Chisinau, Kiev, Moscow, Sofia and 

Warsaw. 



Danijela Ozme 3, 71000 Sarajevo 

Phone: (+387-33) 287-100, 287-121 

Fax: (+387-33) 213 851 


Contact: Dragomir Grgić 

dragomir.grgic@rbb-sarajevo.raiffeisen.at 

Bulgaria 

Raiffeisenbank (Bulgaria) E.A.D. 

Gogol Ulica 18/20, 1504 Sofia 

Phone: (+359-2) 91 985 451; 91 985 441 

Fax: (+359-2) 943 45 28 

Telex: 22006 

www.rbb.bg 

Contact: Evelina Miltenova 

evelina.miltenova@rbb-sofia.raiffeisen.at 



63


64 


Croatia 

Raiffeisenbank Austria d.d. 

Petrinjska 59, 10000 Zagreb 

Phone: (+385-1) 456 64 66 

Fax: (+385-1) 481 94 62 

www.rba.hr 

Contact: Zoran Košćak 

zoran.koscak@rba-zagreb.raiffeisen.at 

Czech Republic 

Raiffeisenbank a.s. 

Olbrachtova 2006/9, 140 21 Praha 4 

Phone: (+420-2) 221 141 863 

Fax: (+420-2) 221 143 804 

www.rb.cz 

Contact: Martin Bláha 

martin.blaha@rb.cz 

Hungary 

Raiffeisen Securities & Investment Rt. 

(Raiffeisen Értékpapír és Befektetési Rt.) 

Akadémia utca 6, 1054 Budapest 

Phone: (+36-1) 484 48 88 

Fax: (+36-1) 484 48 00 

www.raiffeisen.hu/rsi 

Contact: Ferenc Szabó 

fszabo@raiffeisen.hu 

Romania 

Raiffeisen Capital & Investment Romania 

S.A. 

74, Unirii Blvd., 030837 Bucureşti 3 

Phone: (+40-1) 302 00 82 

Fax: (+40-1) 320 99 83 

Contact: Dragoş Neacşu 

dragos.neacsu@rzb.ro 

Russia 

ZAO Raiffeisenbank Austria 

Troitskaya Ul. 17/1, 129090 Moskwa 

Phone: (+7-095) 721 99 00 

Fax: (+7-095) 721 99 01 

Telex: 914617 RAIFF RU 

www.raiffeisen.ru 

Contact: Pavel Gourine 

pgourine@raiffeisen.ru 

Serbia and Montenegro 

Raiffeisen Investment AG 

Obilićev venac 27/II, 11000 Beograd 

Phone: (+381-11) 632 303 

Fax: (+381-11) 2623 542 

www.raiffeisenbank.co.yu 

Contact: Ivan Bajić 

ivanriag@eunet.yu 

Slovak Republic 

Tatra banka, a.s. 

Hodžovo námestie 3, 811 06 Bratislava 1 

Phone: (+421-2) 59 19 1111 

Fax: (+421-2) 59 19 1110 

www.tatrabanka.sk 

Contact: Igor Vida 

igor_vida@tatrabanka.sk 

Slovenia 

Raiffeisen Krekova Banka d.d. 

Slomškov trg 18, 2000 Maribor 

Phone: (+ 386 2) 2293119 

Fax: (+386 2) 2525518 

www.r-kb.si 

Contact: Primož Kovačič 

primoz.kovacic@r-kb.si

Selected specialized Raiffeisen 

Companies 

Austria 

Kathrein & Co. Privatgeschäftsbank AG 

Wipplingerstr. 25, 1010 Vienna 

Phone: (+43-1) 53 451-600 

Fax: (+43-1) 53 451-599 

SWIFT/BIC: KTBKATWW 

www.kathrein.at 

Contact: Claudio Cantele 

claudio.cantele@kathrein.at 

Raiffeisen Bausparkasse Gesellschaft 

m.b.H. 

Wiedner Hauptstr. 94, 1050 Vienna 

Phone: (+43-1) 546 46-1420 

Fax: (+43-1) 546 46-2359 

SWIFT/BIC: RBSKAT W1 

www.raibau.at 

Contact: Sonja Hochreiter 

sonja.hochreiter@raibau.raiffeisen.at 

Subsidiaries in Bratislava, Prague and Zagreb 

Raiffeisen Capital Management 

(Raiffeisen Kapitalanlage-Gesellschaft m.b.H.) 


Phone: (+43-1) 71 707-3791 

Fax: (+431) 71 707-763791 

www.raiffeisencapitalmanagement.at 

Contact: Monika Riedel 

monika.riedel@rkag.at 

Raiffeisen Versicherung AG 

Untere Donaustr. 25, 1021 Vienna 

Phone: (+43-1) 211 19-0 

Fax: (+43-1) 211 19-1134 

www.raiffeisen-versicherung.at 

Contact: Norbert Heller 

kommunikation@raiffeisen-versicherung.at 

Raiffeisen Versicherung is a member of the 

UNIQA Group, which has further subsidiaries in 

Budapest, Bratislava, Geneva, Łodz, Milan, 

Prague, Salzburg, Udine, Vaduz, Vienna and 

Zagreb. 

Raiffeisen-Leasing GmbH 

Hollandstr. 11–13, 1020 Vienna 

Phone: (+43-1) 716 01-0 

Fax: (+43-1) 716 01-8029 

www.raiffeisen-leasing.at 

Contact: Peter Engert 

peter.engert@rl.co.at 

Subsidiaries in Bregenz, Eisenstadt, Graz, 

Innsbruck, Klagenfurt, Salzburg and Vienna. 

www.rzbgroup.com 

Raiffeisen-Leasing International GmbH 


Phone: (+-43-1) 717 07-3785 

Fax: (+ 43-1) 717 07-2059 

Contact: Christian Pettinger 

christian.pettinger@rzb.at 

Subsidiaries in Belgrade, Bratislava, Bucharest, 

Budapest, Ljubljana, Moscow, Prague, Sarajevo, 

Sofia, Warsaw and Zagreb. 

Raiffeisen Private Equity Management AG 


Phone: (+43-1) 532 0466-0 

Fax: (+43-1) 532 0466-410 

www.rpem.at 

Contact: Witold Szymanski 

w.szy@rpem.at 

Offices in Budapest, Prague and Warsaw. 

ÖVK Vorsorgekasse AG 


Phone: 0810-53 00 99 

Fax: 0810-53 00 98 

www.oevk.co.at 

Contact: Nicolaus Hagleitner 

office@oevk.co.at 


Raiffeisen Ost-Invest Unternehmensbeteiligungsges.m.b.H. 


Phone: (+43-1) 532 0466-422 

Fax: (+43-1) 532 0466-420 

Contact: Rolf Theuer 

r.theuer@rpem.at 

Raiffeisen evolution project development GmbH 

Nussdorfer Lände 23, 1190 Vienna 

Phone: (+43-1) 717 06-600 

Fax: (+43-1).717 06-410 

www.raiffeisenevolution.com 

Contact: Markus Neurauter 

markus.neurauter@raiffeisenevolution.com 

Offices: Belgrade, Bucharest, Budapest, Kiev, 

Moscow, Prague, Sofia, Warsaw and Zagreb. 

F. J. Elsner 

Am Heumarkt 10, 1030 Vienna 

Phone: (+ 43-1) 797 36-0 

Fax: (+ 43-1) 797 36-230 

www.elsner.at 

Contact: Wilhelm Ambichl 

wilhelm.ambichl@elsner.at 

Contact: Siegfried Purrer 

siegfried.purrer@elsner.at 

Branches in Beijing, Kiev, Miami, Moscow, New York, 

Riga and Varschez. 


65


66 




67

Finansijski izvještaji 

68 

Odgovornost za finansijske izvještaje 

U skladu sa Zakonom o računovodstvu Federacije Bosne i Hercegovine (“Službene novine Federacije Bosne i Hercegovine”, 

broj 2/95 i 12/98), Uprava je dužna osigurati da za svaku finansijsku godinu budu sastavljeni finansijski izvještaji u skladu 

s Međunarodnim standardima finansijskog izvještavanja (MSFI), koje je objavio Odbor za međunarodne računovodstvene 

standarde, koji pružaju istinit i fer pregled stanja u Banci, kao i njene rezultate poslovanja za navedeni period. S obzirom da 

Zavod za računovodstvo i reviziju FBiH još uvijek nije usvojio MSFI, na snazi su Računovodstveni standardi FBiH, koji su u 

značajnoj mjeri usklađeni sa MSFI. 

Nakon provedbe odgovarajućih istraživanja, Uprava opravdano očekuje da će Banka u dogledno vrijeme raspolagati 

odgovarajućim resursima, te stoga i dalje usvaja načelo vremenske neograničenosti poslovanja pri sastavljanju finansijskih 

izvještaja. 

Odgovornosti Uprave pri izradi finansijskih izvještaja obuhvataju sljedeće: 

- odabir i dosljednu primjenu odgovarajućih računovodstvenih politika 

- davanje opravdanih i razboritih prosudbi i procjena 

- postupanje u skladu s važećim računovodstvenim standardima, uz objavu i obrazloženje svih materijalno značajnih 

odstupanja u finansijskim izvještajima i 

- sastavljanje finansijskih izvještaja pod pretpostavkom vremenske neograničenosti poslovanja, osim ako pretpostavka da 

će Banka nastaviti poslovanje nije primjerena. 

Uprava je odgovorna za vođenje odgovarajućih računovodstvenih evidencija, koje u svakom trenutku s opravdanom tačnošću 

prikazuju finansijski položaj Banke. Također, Uprava je dužna pobrinuti se da finansijski izvještaji budu u skladu sa Zakonom 

o računovodstvu. Pored toga, Uprava je odgovorna za čuvanje imovine Banke, te za poduzimanje opravdanih koraka za 

sprečavanje i otkrivanje prevare i drugih nepravilnosti. 


Za i u ime Uprave 

Edin Muftić 


Ulica Danijela Ozme 3 

71000 Sarajevo 


23. juanuar 2004.

Responsibility for Financial Reports 

Pursuant to the Accounting Law of Federation of Bosnia and Herzegovina (Official Gazzette No. 2/95 and 12/98), the 

Management Board is responsible for ensuring that financial statements are prepared for each financial year in accordance 

with International Financial Reporting Standards (IFRS) as published by the International Accounting Standards Board (IASB) 

which give a true and fair view of the state of affairs and results of the Bank for that period. Since the Bureau for Accounting 

and Audit of the Federation of Bosnia and Herzegovina did not adopt IFRS, in effect are Federal Accounting Standards, which 

are to the great extent in accordance with IFRS. 

After making enquiries, the Board has a reasonable expectation that the Bank has adequate resources to continue in operational 

existence for the foreseeable future. For this reason, the Board continues to adopt the going concern basis in preparing the 

financial statements. 

In preparing those financial statements, the responsibilities of the Board include ensuring that: 

- suitable accounting policies are selected and then applied consistently; 

- judgements and estimates are reasonable and prudent; 

- applicable accounting standards are followed, subject to any material departures disclosed and explained in the financial 

statements; and 

- the financial statements are prepared on the going concern basis unless it is inappropriate to presume that the Bank and 

the group will continue in business. 

The Board is responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the 

financial position of the Bank and must also ensure that the financial statements comply with the Accounting Law. The Board is 

also responsible for safeguarding the assets of the Bank and hence for taking reasonable steps for the prevention and detection 

of fraud and other irregularities. 

Signed on behalf of the Board 

Edin Muftic 


Danijela Ozme 3 

71000 Sarajevo 


23 January 2004 


Financial statement 

69


70 

NEZAVISNO REVIZORSKO MIŠLJENJE 

Dioničarima Raiffeisen Bank d.d. Bosna i Hercegovina 

Obavili smo reviziju nekonsolidovanih bilansa stanja Raiffeisen Bank d.d. Bosna i Hercegovina (u daljnjem tekstu: “Banka”) sa 

stanjima na 31. decembra 2003. i 2002. i povezanih nekonsolidovanih bilansa uspjeha, nekonsolidovanih izvještaja o toku 

novca i nekonsolidovanih izvještaja o promjenama na vlasničkoj glavnici za godine koje su tada završile. Odgovornost za 

ove finansijske izvještaje snosi Uprava Banke. Naša je odgovornost izraziti neovisno mišljenje o nekonsolidovanim finansijskim 

izvještajima na temelju naše revizije. 

Reviziju smo obavili u skladu sa Međunarodnim revizijskim standardima. Navedeni standardi zahtijevaju da reviziju planiramo 

i obavimo na način da prikupimo sve informacije i sva obrazloženja koja smatramo nužnim da bismo prikupili dovoljno 

dokaza koji nam u razumnoj mjeri pružaju jamstvo da finansijski izvještaji ne sadrže materijalno značajne pogreške. Revizija 

uključuje provjeru dokaza pomoću testiranja, koji potkrjepljuju iznose i druge informacije objavljene u finansijskim izvještajima. 

Revizija također uključuje i procjenu primijenjenih računovodstvenih načela te ocjenu značajnih procjena Uprave, kao i ocjenu 

ukupnog prikaza finansijskih izvještaja. Vjerujemo da nam naša revizija daje razumnu osnovu za naše mišljenje. 

Po našem mišljenju, nekonsolidovani finansijski izvještaji prikazuju istinito i fer, u svim materijalno značajnim stavkama, 

finansijski položaj Banke na 31. decembra 2003. i 2002., kao i rezultate njezinog poslovanja, promjene u toku novca 

i promjene u vlasničkoj glavnici, za godine koje su tada završile i sastavljeni su u skladu s Međunarodnim standardima 

finansijskog izvještavanja. 


Deloitte d.o.o. 

Sarajevo, 23. januar 2004.

INDEPENDENT AUDITORS’ REPORT 

To the Shareholders of Raiffeisen Bank d.d. Bosna i Hercegovina 

We have audited the accompanying unconsolidated balance sheets of Raiffeisen Bank d.d. Bosna i Hercegovina (the “Bank”) 

as of 31 December 2003 and 2002 and the related unconsolidated statements of income, cash flows and changes in 

shareholders’ equity for years then ended. These unconsolidated financial statements are the responsibility of the Bank’s 

management. Our responsibility is to express an opinion on these unconsolidated financial statements based on our audits. 

We conducted our audits in accordance with International Standards on Auditing. Those standards require that we plan 

and perform the audit to obtain reasonable assurance about whether the unconsolidated financial statements are free of 

material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in 

the unconsolidated financial statements. An audit also includes assessing the accounting principles used and significant 

estimates made by the Bank, as well as evaluating the overall financial statement presentation. We believe our audits provide 

a reasonable basis for our opinion. 

In our opinion, the accompanying unconsolidated financial statements present fairly, in all material respects, the financial 

position of the Bank, as of 31 December 2003 and 2002 and the results of its operations, its cash flows and changes in 

shareholders equity for the years then ended, in accordance with International Financial Reporting Standards. 

Deloitte d.o.o. 

Sarajevo, 23 January 2004 



71


72 

Nekonsolidovani bilansi uspjeha 

Na dan 31. decembra 2003. i 2002. 

Napomena 

2003 

‘000 KM 

2002 

‘000 KM 

Prihodi od kamata 3 88.838 57.862 

Rashodi od kamata 4 (25.691) (17.179) 

Neto prihod od kamata 63.147 40.683 

Prihodi od naknada i provizija 5 30.848 26.785 

Rashodi od naknada i provizija 6 (3.608) (2.320) 

Neto prihod od naknada i provizija 27.240 24.465 

Neto dobit iz finansijskog poslovanja 7 5.263 5.785 

Ostali poslovni prihodi 396 208 

Naplaćena otpisana potraživanja 8 3.012 1.462 

Prihod iz redovnog poslovanja 99.058 72.603 

Opšti i administrativni troškovi 9 (55.147) (37.970) 

Trošak amortizacije 20 (4.666) (2.604) 

Rashodi iz redovnog poslovanja (59.813) (40.574) 

DOBIT PRIJE REZERVISANJA I POREZA NA DOBIT 39.245 32.029 

Rezervisanja za umanjenja vrijednosti 10 (18.974) (17.185) 

DOBIT PRIJE POREZA NA DOBIT 20.271 14.844 

Porez na dobit 11 - - 

NETO DOBIT GODINE 20.271 14.844 

OSNOVNA ZARADA PO DIONICI 34 113 127 


Računovodstvene politike i napomene u nastavku čine sastavni dio 

Nekonsolidovanih finansijskih izvještaja.

Unconsolidated Income Statements 

For the Years Ended 31 December 2003 and 2002 

2003 

2002 

Notes 

‘000 KM ‘000 KM 

Interest income 3 88,838 57,862 

Interest expense 4 (25,691) (17,179) 

Net Interest Income 63,147 40,683 

Fee and commission income 5 30,848 26,785 

Fee and commission expense 6 (3,608) (2,320) 

Net Fee and Commission Income 27,240 24,465 

Net trading income 7 5,263 5,785 

Other operating income 396 208 

Collected write-offs 8 3,012 1,462 

Operating Income 99,058 72,603 

General and administrative expense 9 (55,147) (37,970) 

Depreciation and amortization expense 20 (4,666) (2,604) 

Operating Expense (59,813) (40,574) 

PROFIT BEFORE IMPAIRMENT LOSSES, PROVISIONS AND 

INCOME TAXES 39,245 32,029 

Impairment losses and provisions 10 (18,974) (17,185) 

PROFIT BEFORE INCOME TAXES 20,271 14,844 

Income tax 11 - - 

NET PROFIT FOR THE PERIOD 20,271 14,844 

BASIC EARNINGS PER SHARE 34 113 127 

The accompanying notes form an integral part of these unconsolidated financial statements. 



73


74 

Nekonsolidovani bilans stanja 

Na dan 31. decembra 2003. i 2002. 


Napomena 

31. decembar 

2003. 

‘000 KM 

31. decembar 

2002. 

‘000 KM 

SREDSTVA 

Novac i sredstva kod banaka 12 75.561 77.024 

Potraživanja od Centralne banke 13 58.063 19.697 

Plasmani kod drugih banaka 14 386.612 291.817 

Krediti iz sredstava Banke 15 803.350 510.178 

Kupljeni krediti koji se drže do dospijeća 16 4.216 - 

Potraživanja za obračunatu kamatu 17 4.982 2.797 

Ulaganja 18 3.211 3.031 

Ostala imovina 19 25.799 7.466 

Neto dugotrajna materijalna i nematerijalna imovina 20 26.269 18.482 

Ukupna sredstva 1.388.063 930.492 

OBAVEZE 

Obaveze prema drugim bankama 21 231.248 52.103 

Obaveze prema klijentima 23 1.016.093 796.528 

Rezervisanja za preuzete i potencijalne obaveze 26 8.879 7.181 

Ostale obaveze 24 10.850 5.689 

Subordinisani dug 22 29.337 9.779 

Ukupne obaveze 1.296.407 871.280 

VLASNIČKA GLAVNICA 

Dionički kapital 25 49.306 37.622 

Rezerve i zadržana dobit 42.350 21.590 

Ukupna vlasnička glavnica 91.656 59.212 

UKUPNE OBAVEZE I VLASNIČKA GLAVNICA 1.388.063 930.492 

Potpisao za i u ime Raiffeisen Bank d.d. Bosna i Hercegovina dana 23. januara 2004. 

Generalni direktor Banke Direktor sektora za finansije 

Edin Muftić Đula Hasanbegović 



Unconsolidated Balance Sheets 

As at 31 December 2003 and 31 December 2002 

Notes 

31 December 

2003 

‘000 KM 



31 December 

2002 

‘000 KM 

ASSETS 

Cash and due from banks 12 75,561 77,024 

Due from Central Bank 13 58,063 19,697 

Placements with other banks 14 386,612 291,817 

Loans originated by the Bank 15 803,350 510,178 

Purchased loans held to maturity 16 4,216 - 

Accrued interest receivable 17 4,982 2,797 

Investments 18 3,211 3,031 

Other assets 19 25,799 7,466 

Fixed and intangible assets 20 26,269 18,482 

Total assets 1,388,063 930,492 

LIABILITIES 

Due to banks 21 231,248 52,103 

Due to customers 23 1,016,093 796,528 

Provisions 26 8,879 7,181 

Other liabilities 24 10,850 5,689 

Subordinated debt 22 29,337 9,779 

Total liabilities 1,296,407 871,280 

SHAREHOLDERS’ EQUITY 

Share capital 25 49,306 37,622 

Retained earnings and reserves 42,350 21,590 

Total shareholders’ equity 91,656 59,212 

TOTAL LIABILITIES AND SHAREHOLDERS’ 

EQUITY 1,388,063 930,492 

Signed on behalf of Raiffeisen Bank d.d. Bosna i Hercegovina d.d. on 23 January 2004: 

President of the Management Board Director of the Finance Department 

Edin Muftić Đula Hasanbegović 


75


76 

Nekonsolidovani izvještaj o toku novca 

Za godine koje su završile 31. decembra 2003. i 2002. 


2003 

‘000 KM 

2002 

‘000 KM 

Poslovne aktivnosti 

Neto dobit 20.271 14.844 

Usklađenje na neto novčana sredstva ostvarena poslovnim aktivnostima: 

Amortizacija 4.666 2.604 

Rezervisanja 18.974 17.185 

Promjene u sredstvima i izvorima: 

Neto povećanje potraživanja od Centralne banke (37.390) (177) 

Neto povećanje plasmana kod drugih banaka (111.381) (147.200) 

Neto povećanje kredita (193.473) (251.330) 

Neto povećanje kupljenih kredita (6.177) - 

Neto povećanje potraživanja za obračunatu kamatu (1.782) (1.411) 

Neto povećanje/smanjenje ostale aktive (18.312) 6.444 

Neto povećanje/smanjenje obaveza prema bankama 20.147 (6,162) 

Neto povećanje obaveza prema klijentima 109.416 161.900 

Neto povećanje obaveza za obračunatu kamatu 1.611 348 

Neto povećanje/smanjenje ostale pasive, prije rezervisanja za moguće gubitke 1.381 (7.719) 

Novčana sredstva HPB-a (vidi Napomene 1.1) 24.938 - 

NETO NOVČANA SREDSTVA UPOTRIJEBLJENA U POSLOVNIM AKTIVNOSTIMA (167.111) (210,674) 

Investicijske aktivnosti 

Neto povećanje ulaganja, prije rezervisanja za moguće gubitke (2) (1.228) 

Neto nabavke materijalne i nematerijalne imovine (6.218) (7.696) 

NETO NOVČANA SREDSTVA UPOTRIJEBLJENA 

U INVESTICIJSKIM AKTIVNOSTIMA (6.220) (8.924) 

Finansijske aktivnosti 

Povećanje obaveza po kreditima 154.776 1,768 

Neto povećanje podređenih obaveza 19.558 9.779 

Uplata kapitala - 12.522 

Dividenda (2.466) (2.837) 

NETO NOVČANA SREDSTVA OSIGURANA FINANSIJSKIM AKTIVNOSTIMA 171.868 21,232 

NETO SMANJENJE NOVCA I NOVČANIH SREDSTAVA (1.463) (198.366) 

Novac i novčana sredstva na početku perioda 77.024 275.390 

NOVAC I NOVČANA SREDSTVA NA KRAJU GODINE 75.561 77.024 



Unconsolidated Statements Of Cash Flows 

For the Years Ended 31 December 2003 and 2002 

2003 

‘000 KM 



2002 

‘000 KM 

Operating Activities 

Net income 20,271 14,844 

Adjustments to reconcile net income to net cash provided by 

operating activities: 

Depreciation 4,666 2,604 

Impairment losses and provisions 18,974 17,185 

Changes in operating assets and liabilities: 

Net increase in due from Central Bank (37,390) (177) 

Net increase in placements with other banks, before impairment losses (111,381) (147,200) 

Net increase in loans, before impairment losses (193,473) (251,330) 

Net increase in purchased loans, before impairment losses (6,177) - 

Net increase in accrued interest receivable, before impairment losses (1,782) (1,411) 

Net decrease/increase in other assets, before impairment losses (18,312) 6,444 

Net increase/decrease in due to banks 20,147 (6,162) 

Net increase in demand and term deposits 109,416 161,900 

Net increase in accrued interest payable 1,611 348 

Net increase/decrease in other liabilities 1,381 (7,719) 

Cash from HPB (see Notes 1.1) 24,938 - 

NET CASH USED IN OPERATING ACTIVITIES (167,111) (210,674) 

Investing Activities 

Net increase in investments, before impairment losses (2) (1,228) 

Net purchases of fixed and intangible assets (6,218) (7,696) 

NET CASH USED IN INVESTING ACTIVITIES (6,220) (8,924) 

Financing Activities 

Net proceeds from borrowings 154,776 1,768 

Net proceeds from subordinated debt 19,558 9,779 

Paid-in capital - 12,522 

Dividends paid (2,466) (2,837) 

NET CASH PROVIDED BY FINANCING ACTIVITIES 171,868 21,232 

NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (1,463) (198,366) 

Cash and cash equivalents at the beginning of the period 77,024 275,390 

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 75,561 77,024 


77


78 

Nekonsolidovani izvještaj o promjenama 

u vlasničkoj glavnici 

Za godine koje su završile 31. decembra 2003. i 2002. 


Dionički 

kapital 

‘000 KM 

Zadržana dobit 

i rezerve 

‘000 KM 

Ukupno 

‘000 KM 

Stanje 31. decembra 2001. 25.100 9.583 34.683 

Uplata devete i desete zatvorene emisije dionica 12.522 - 12.522 

Dividende - (2.837) (2.837) 

Dobit za 2002. - 14.844 14.844 


Spajanje sa HPB (vidi Napomene 1.1) 11.684 2.955 14.639 

Dividende - (2.466) (2.466) 

Dobit za 2003. - 20.271 20.271

prelom 2.indd - Raiffeisen Bank

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