Bilansi uspjeha - Raiffeisen Bank

Pregled ključnih podataka
Survey of Key Data
Raiffeisen BANK d.d. Bosna i Hercegovina
Monetarne vrijednosti u €mn
Monetary values are in €mn 2005 2004
Bilans uspjeha
Income Statement
Promjena
Change
Neto prihod od kamate nakon oporezivanja
Net interest income after provisioning 32,77 26,58 23,3%
Neto prihod od provizija
Net commission income 15,41 16,03 -3,9%
Poslovna dobit
Trading profit 2,97 2,63 13,1%
Opći administrativni troškovi
General administrative expenses 38,36 32,96 16,4%
Dobit prije poreza
Profit before tax 12,39 10,81 14,6%
Dobit nakon poreza
Profit after tax 12,39 10,81 14,6%
Bilans stanja
Balance Sheet
Krediti i avansi bankama
Loans and advances to banks 333,53 298,03 11,9%
Krediti i avansi klijentima
Loans and advances to customers 681,06 541,39 25,8%
Depoziti od banaka
Deposits from banks 303,44 222,73 36,2%
Depoziti od klijenata
Deposits from customers 831,88 713,94 16,5%
Kapital (uklj. dobit)
Equity (incl. profit) 86,64 68,39 26,7%
Ukupni bilans stanja
Balance-sheet total 1,274,89 1,043,03 22,2%
Obavezne informacije
Regulatory information
Rizikom ponderisana aktiva
Risk-weighted assets 931,11 739,95 25,8%
Koeficijent adekvatnosti kapitala
Capital Adequancy Ratio 14,1% 13,5% 0.6 PP
Učinak
Performance
Povrat na kapital (ROE) prije poreza
Return on equity (ROE) before tax 17,3% 21,5% (4.2 PP)
Povrat na kapital (ROE) nakon poreza
Return on equity (ROE) after tax 17,3% 21,5% (4.2 PP)
Koeficijent trošak /prihod
Cost/income ratio 66,6% 63,7% 2.9 PP
Povrat na aktivu (ROA) prije poreza
Return on assets (ROA) before tax 1,1% 1,2% (0.1 PP)
Resursi
Resources
Broj zaposlenika
Number of staff 1,205 1,109 8,7%
Poslovne jedinice
Business outlets 67 61 9,8%

Godišnji izvještaj 2004
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Sadržaj
Contents
Izvještaj predsjednika Nadzornog Odbora ............................................................................6
Report by the President of the Supervisory Board ................................................................7
Predgovor direktora ...............................................................................................................8
Introduction by Chief Executive Officer ...............................................................................9
Makroekonomski agregati ...................................................................................................12
Macroeconomic Aggregates ............................................................................................13
RZB Grupacija i Raiffeisen International ...............................................................................16
The RZB Group and Raiffeisen International ......................................................................17
Raiffeisen BANK d.d. Bosna i Hercegovina ............................................................................18
Raiffeisen BANK d.d. Bosnia and Herzegovina .................................................................19
Uprava Banke .....................................................................................................................22
Bank Management ..........................................................................................................23
Organizaciona struktura banke ...........................................................................................28
Organisation Structure of the Bank .................................................................................29
Sektor za poslovanje sa pravnim licima ...............................................................................30
Corporate Banking Division ............................................................................................31
Sektor za poslovanje sa stanovništvom ..................................................................................32
Retail Division .................................................................................................................33
SME Segment ......................................................................................................................36
SME Segment ..................................................................................................................37
Sektor sredstava i finansijskih tržišta .....................................................................................38
Treasury and Financial Market Division .............................................................................39
Sektor za finansije i računovodstvo ........................................................................................40
Finance and Accounting Division .......................................................................................41
Sektor podrške i platnog prometa .........................................................................................42
Central Processing Division ..............................................................................................43
Bilans stanja ........................................................................................................................46
Balance Sheet .................................................................................................................47
Bilans uspjeha .....................................................................................................................48
Statements of Income .......................................................................................................49
Značajni finansijski pokazatelji .............................................................................................50
Key Financial Highlights ..................................................................................................51
Centrala i filijale ..................................................................................................................70
Head Office and Branches ...............................................................................................70
Adresar ...............................................................................................................................71
Addresses .......................................................................................................................71
Nezavisno revizorsko mišljenje ............................................................................................84
Independent Auditors’ Report ..........................................................................................85
Bilansi uspjeha ...................................................................................................................86
Income Statements .........................................................................................................87
Bilansi stanja ......................................................................................................................88
Balance Sheets .............................................................................................................89
Izvještaji o novčanim tokovima .............................................................................................90
Statements of Cash Flows ...............................................................................................91
Izvještaji o promjenama vlasničke glavnice ............................................................................92
Statements of Changes in Shareholders’ Equity ................................................................93
Napomene uz finansijske izvještaje ......................................................................................94
Notes to the Financial Statements .....................................................................................95
Annual Report 2005
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Izvještaj predsjednika Nadzornog odbora
Izvještaj predsjednika
Nadzornog odbora
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Ispred Nadzornog odbora Raiffeisen BANK d.d. Bosna i Hercegovina i ove godine
sa zadovoljstvom mogu govoriti o uspješnosti poslovanja u prethodnoj godini. Raif-
feisen BANK d.d. BiH zadržala je svoj stabilan rast i poziciju banke sa najvećom
aktivom. Zaključno sa 31. decembrom 2005. godine, aktiva Banke dostigla je iznos
od 2,5 milijarde KM.
Zahvaljujući visokoj profesionalnosti rukovodstva i zaposlenih, te konstantnom
prilagođavanju potrebama tržišta bankarskog sektora u BiH, koje je u stalnom raz-
voju i koje postaje sve konkurentnije banka je zadržala svoju vodeću ulogu.
Uspješnosti Banke svakako je doprinijelo jasno fokusiranje na planiranje i razvoj
poslovne mreže, koja je čini dostupnom klijentima širom Bosne i Hercegovine.
Od samog početka svog rada Banka je imala pionirsku ulogu u procesima uvođenja novih proizvoda i razvoja
poslovanja. Bila je među prvim bankama potpisnicama Ugovora za osiguranje depozita, među najuspješnijim
Bankama u tranziciji unutrašnjeg platnog prometa iz ZPP-a (State Clearing Agency) u komercijalne Banke, naja-
ktivnija Banka u procesu uvođenja EURO valute i prva Banka zastupljena u oba entiteta. Takođe, bila je među
prvim bankama koja je uvela kartično poslovanje, SME program, uslugu internet bankarstva za pravna lica, prva
banka u ugovaranju i distribuciji ino kreditnih linija ( DEG, KfW, IFC i drugih).
Bila je najznačajnija Banka u podršci razvoja domaće privrede, najveći kreditor u posljednjih pet godina i imala
je znatno učešće u velikim izvoznim finansiranjima.
Raiffeisen banka je bitan dio Raiffeisen International Bank-Holding AG (Raiffeisen International), jedne od
vodećih bankarskih grupacija u Centralnoj i Istočnoj Evropi. Razlog uspjeha Raiffeisen International-a je u njego-
vom sveobuhvatnom prisustvu u regionu i ponudi naprednih bankarskih proizvoda i usluga u svim segmentima
poslovanja.
Iako je BiH u grupi zemalja sa srednje visokim rizikom za strana ulaganja, što je ocjena bonitetske agencije
Moody’s, evidentan je priliv stranog kapitala, naročito bankarskih grupacija iz Evrope. U proteklim godinama u
ovoj je zemlji uloženo mnogo napora kako bi se ojačala njena političko ekonomska stabilnost. Stoga je realno
očekivati da će rezultat navedenog biti stvaranje uslova za poboljšanje međunarodnog kreditnog rejtinga, što će
svakako doprinijeti smanjenju cijene kapitala, a samim tim i povoljnijim uslovima kreditiranja kako stanovništva
tako i bh privrednika.
Raiffeisen International spremno podržava sve inicijative Raiffeisen banke upućene relevantnim vlastima i insti-
tucijama, koje potpomažu razvitak bankarskog i finansijskog sektora u BiH.
U ime svih članova Nadzornog odbora zahvaljujem se rukovodstvu Banke, kao i svim njenim zaposlenicima za
njihov predan rad i profesionalnost. Takođe, zahvaljujem se svim klijentima koji su nam, poslujući sa nama,
ukazali svoje povjerenje.
Vjerujem da će Raiffeisen BANK d.d. BiH, slijedeći svoju strategiju, dostići nove uspjehe u 2006. godini.
Dr. Herbert Stepic
Predsjednik Nadzornog odbora

Report by the President
of the Supervisory Board
On behalf of the Supervisory Board of Raiffeisen BANK d.d. Bosna i Hercegovina, I can again report with plea-
sure about the successful business activities of the previous year. Raiffeisen BANK maintained its stable growth
and position of the bank with the highest assets. As of December 31, 2005, the Bank’s assets reached KM 2,5
billion.
Owing to the high professionalism of the management and employees, as well as the continuous adjustment to the
needs of the local banking sector, which is in continuous development and becoming more and more competitive,
the bank kept its leading position.
The success of the Bank was certainly based on the clear focus on the development of the business network, which
is today available for customers throughout Bosnia and Herzegovina.
From the very beginning of its operations, the Bank has had a pioneer role in introducing new products and busi-
ness opportunities. It was amongst the first banks which signed the Agreement for Deposit Insurance, amongst
the most successful banks in the transition process of international payments from the State Clearing Agency to
commercial banks, the most active bank in introducing the EURO and the first bank present in both entities. It
was also one of the first banks to introduce card operations, an SME programme, internet banking service for
corporate entities and, not least, the first bank contracting and distributing foreign credit lines (from DEG, KfW,
IFC and others).
It was the most significant bank in supporting the development of the local economy, the biggest creditor in the
last five years and it had considerable share in big export financings.
Raiffeisen BANK is an important part of Raiffeisen International Bank-Holding AG, one of the leading banking
groups in the Central and Eastern Europe. The reason for Raiffeisen International’s success is its comprehensive
presence in the region and its offering of state-of-the-art banking products and services across all business seg-
ments.
Although, according to Moody’s, BiH is in the group of countries with medium risk for foreign investments, there
is considerable inflow of foreign capital, especially from European banking groups. In the previous year, lots of
efforts were made to strengthen the country’s political and economic stability.It is realistic to expect that these
efforts will lead to a further improvement of its international credit rating, which will in turn certainly contribute
to decrease the price of capital, as well as to more favourable lending conditions both in the retail and the cor-
porate segments.
Raiffeisen International readily supports all initiatives of Raiffeisen BANK directed to the relevant authorities and
institutions, which help to develop the financial sector in BiH.
On behalf of all members of the Supervisory Board, I thank the management of BANK Bank, as well as all its
employees for their dedicated work and professionalism. Also, I thank all customers which, through their business
cooperation with us, have showed their trust. I believe that Raiffeisen BANK, following its strategy, will reach new
successes in 2006.
Herbert Stepic
Chairman of the Supervisory Board
Report by the President of the Supervisory Board
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Predgovor direktora
Predgovor direktora
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U ime Uprave Raiffeisen BANK d.d. Bosna i Hercegovina zadovoljstvo mi je govoriti
o rezultatima koji potvrđuju da smo iza nas ostavili još jednu uspiješnu poslovnu
godinu. Tržišni udio naše banke, obračunat na osnovu ukupne aktive, iznosi 21
posto, čime smo zadržali vodeću poziciju komercijalne banke u Bosni i Hercegovini.
Ostvareni uspjeh potvrđuje da smo spremno dočekali nove izazove nastale konstant-
nim jačanjem konkurencije unutar bankarskog sektora u BiH.
Prethodnu godinu završili smo sa neto dobiti u iznosu od 24,2 milion KM. Aktiva
Banke sa 31. decembrom 2005. godine iznosila je 2.494.767.000 KM, što u odnosu
na 2004. godinu predstavlja povećanje od 22%, kapital je povaćan za 23%, dobit za
15%, krediti za 26%, depoziti 16%.
U prethodnoj godini nastavljeno je širenje naše poslovne mreže. Otvorene su nove poslovnice u
Kiseljaku, Banjoj Luci, Bosanskoj Krupi, Prnjavoru, Zenici i Konjicu.
Kao potvrda našeg uspješnog poslovanja su kako domaća, tako i mnogobrojna međunarodna
priznanja:
The Banker - “Banka godine”
Global Finance - “Najbolja banka u BiH”
Magazin BANKE - tri Zlatna BAM-a
Kristalna prizma - “Najbolju banku u BiH”
Finance Central Europe - četiri nagrade
Uspješnu Raiffeisen grupaciju u BiH u protekloj godini sačinjavalo je 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 (koje obavlja u ime i za račun Privatizacijskog investicionog
fonda “MI-GROUP” d.d. Sarajevo).
U toku godine UNIQA Group Austria preuzela je našu članicu – Raiffeisen osiguranje. Obzirom
da su Raiffeisen i UNIQA dugogodišnji partneri ne samo na osnovu udruživanja kapitala, naša
saradnja sa Raiffeisen osiguranjem - UNIQA Group Austria bit će nastavljena i ubuduće.
Naš odgovor na postavljene zadatke i izazove proizašle iz novog poslovnog okruženja i u nared-
noj godini bit će fleksibilnost, orjentacija prema klijentu, uvođenje novih tehnologija, unapređenje
poslovnih procesa, inovativni proizvodi, te poslovno usavršavanje naših zaposlenika. Navedene
aktivnosti poduzimaju se u skladu sa našim osnovnim ciljem - povećanje zadovoljstva korisnika
naših usluga i podrška razvoju njihovog poslovanja i kvaliteta življenja.
Ovom prilikom želim se zahvaliti svim našim cijenjenim klijentima i partnerima koji su nam uka-
zali povjerenje. Takođe, naglašavam da su našim zajedničkim uspjesima doprinijeli timski rad,
disciplinovanost, savjesnost i odgovornost naših zaposlenika, kojim se takođe zahvaljujem na
njihovom doprinosu našem zajedničkom uspjehu.
Edin Muftić
Direktor

Introduction by
Chief Executive Officer
Introduction by Chief Executive Officer
On behalf of the Management of Raiffeisen BANK d.d. Bosna i Hercegovina , it is my pleasure to
talk about results which confirm that another successful year was left behind us. Market share of
our Bank, calculated on the basis of total assets, amounts to 21 per cent, by which we retained
the position of leading commercial bank in Bosnia and Herzegovina. Achieved success confirms
that we readily coped with the new challenges resulting from constant strengthening of the com-
petition within the banking sector in BiH.
We ended the previous year with net profit in amount of KM 24,2 million. The assets of the
Bank as of December 31st 2005 amounted to KM 2.494.767.000, which compared to 2004
represents increase by 22%, the equity increased by 23%, profit by 15%, loans by 26%, deposits
by 16%.
Extension of our business network continued during previous year. New branches were opened
in Kiseljak, Banjoj Luka, Bosanska Krupa, Prnjavor, Zenica and Konjic.
Numerous domestic and international awards serve as confirmation of our successful business
operations:
The Banker - “Bank of the Year”
Global Finance - “The Best Bank in BiH”
Magazine BANKE – three awards “Zlatni BAM”
Kristalna prizma - “The Best Bank in BiH”
Finance Central Europe – four awards
Successful Raiffeisen Group in BiH consisted of five members last year: Raiffeisen BANK, Raiffeisen
Insurance, Raiffeisen Brokers, Raiffeisen Leasing and Market Investment Group (MI-GROUP) spe-
cialized in managing investment funds and mediation in securities trading (performed on behalf
and for account of the Privatisation Investment Fund “MI-GROUP” d.d. Sarajevo).
During the year, UNIQA Group Austria took over a member of our Group – Raiffeisen Insurance.
Since Raiffeisen and UNIQA are long-term partners not only on the basis of joining capital, our
cooperation with Raiffeisen Insurance - UNIQA Group Austria will be continued in the future.
Our response to set tasks and challenges arising from new business environment will in the
following year also be flexibility, client orientation, introducing new technologies, improvement
of business processes, innovative products, and professional development of our employees.
Above-mentioned activities are undertaken over in accordance with our primary goal – increase
of satisfaction of users of our services and support to development of their business operations
and quality of living.
On this occasion, we wish to express gratitude to our appreciated customers and partners who
entrusted us with their confidence. Also, I would like to emphasise that our joint successes are
also contributed by the teamwork, discipline, diligence and responsibility of our employees,
whom I also wish to thank for their contribution to our joint success.
Edin Muftić
CEO
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Makroekonomski agregati
Makroekonomski agregati
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Makroekonomski pregled
Provedba ekonomskih reformi i ubrzani tranzicijski procesi u svim dijelovima ekonomskog sistema
i u ovoj godini su generirali nastavak kontinuiranog trenda rasta poslovnih aktivnosti u Bosni i
Hercegovini. Prema projiciranim podacima realna stopa rasta bruto domaćeg proizvoda u 2005.
godini, zabilježila je vrijednost od 5.8%, dok prognoze za 2006. godinu ukazuju da bi realni rast
BDP-a trebao ostati na postojećim razinama. Istovremeno i drugi fundamentalni ekonomski indikatori
pokazuju pozitivne vrijednosti, što se posebno ogleda u rastu industrijske proizvodnje, koja
u decembru u odnosu na isti mjesec prethodne godine u Federaciji BiH ostvaruje rast od 5.1%, a
u Republici Srpskoj 12.9%.
Za razliku od prethodnih godina kada je inflacija iskazivala postojano niske vrijednosti, pod
utjecajem globalnih činitelja, posebno rasta cijene energenata na svjetskom tržištu, u ovoj godini
vidljiv je razvoj pritiska na rast potrošačkih cijena, te je prosječna stopa inflacije zabilježila vrijednost
od 3.6 posto. Uvođenje Poreza na dodanu vrijednost (PDV) u 2006. godini trebalo bi dovesti
do nastavka ograničenog inflatornog pritiska koji će prema postojećim procjenama producirati
vrijednost prosječne inflacije na razini iznad 4 postotna poena. S druge strane, blago poboljšanje
životnog standarda vidljivo je kroz prizmu kretanja neto ličnog dohotka koji je u 2005. godini rastao
po nominalnoj stopi od 7.3%, dok je njegova realna stopa rasta iznosila 2.9%. Unatoč problemima
vezanim za neusklađenost s međunarodnim statističkim standardima treba istaći da stopa registrirane
nezaposlenosti na kraju godine iznosi 44%, dok anketna nezaposlenost bilježi znatno manju
razinu. Navedeno potkrepljuje tezu da u BiH postoji značajan dio neregistrirane poslovne djelatnosti
što onemogućuje egzaktno mjerenje stvarne razine nezaposlenosti.
Deficit tekućeg računa bilansa plaćanja u relativnom iznosu od 23.9 posto udjela u BDP-u, rezultat
je vanjskotrgovinskog deficita u iznosu od 3.7 mlrd EUR. Pokrivenost uvoza izvezenim robama
zabilježila je vrijednost od 34.4%. Ovakvi rezultati ukazuju na potrebu poticanja stranih direktnih
ulaganja u cilju jačanja konkurentske sposobnosti privrede i njene izvozne orjentiranosti. Ukupna
strana ulaganja u 2005. godini dosegla su vrijednost od 338 mio EUR. U isto vrijeme, neto devizne
rezerve bilježe vrijednost od 2.14 mlrd EUR, dok vanjski dug iznosi 2.15 mlrd EUR.
Ekonomski indikatori
2001 2002 2003 2004 2005
Nominalni BDP (mlrd EUR) 5.6 6.0 6.3 6.6 7.1
Realna promjena BDP (% yoy) 4.5 5.5 3.0 5.0 5.8
Industrijska proizvodnja (% yoy) -2.0 11.5 3.8 12.0 7.0
Stopa nezaposlenosti (%) 40.0 40.5 41.5 42.0 44.0
Proizvođačke cijene (avg, % yoy) 2.4 0.6 0.8 1.5 2.0
Potrošačke cijene (avg, % yoy) 3.1 0.4 0.6 0.4 3.6
Vladine finansije (% BDP) -3.3 -0.2 0.8 1.8 0.5
Tekući račun bilance plaćanja (% BDP) -16.1 -22.1 -24.5 -23.5 -23.9
Devizne rezerve (mlrd EUR ) 1.4 1.3 1.4 1.7 2.1
EUR/BAM (avg) 1.96 1.96 1.96 1.96 1.96
EUR/USD(avg) 0.90 0.95 1.13 1.24 1.24
Izvor: Thomson Financial Datastream, CB BiH, Raiffeisen RESEARCH Austria

Macroeconomic Aggregates
Macroeconomic overview
Macroeconomic Aggregates
Implementation of economic reforms and accelerated transition processes in all parts of the economic
system in this year also generated continuation of growing trend of business activities in Bosnia and
Herzegovina. According to the projected data, actual growth rate of gross domestic product in year
2005 was 5.8%, while forecasts for year 2006 indicate that actual growth of GDP should remain on
the existing levels. Simultaneously, other fundamental economic indicators also show positive values,
which especially reflects in growth of industrial production, which in December, in comparison to the
same month of the previous year, in Federation B&H increased by 5.1%, and in Republika Srpska by
12.9%.
Apart from the previous years when inflation was persistantly very low, under influence of global
factors, especially growth of power sources in the world market, in this year pressure development
on increase of prices of consumer goods is evident, and average inflation rate was 3.6 percent.
Introduction of value added tax (VAT) in year 2006 should lead to continuation of inflation pressure
which, according to the existing assessments, will produce value of average inflation at the level
above 4 percentage points. On the other hand, slight improvement of life standard is visible through
the prism of trend of net personal income which in 2005 increased per nominal rate of 7.3% while
its actual growth rate was 2.9%. Besides problems related to the mismatch with international statistic
standards, it should be pointed out that registered unemployment rate at the end of the year was
44%, while according to survey unemployment was significantly lower. The aforementioned supports
the thesis that there is a significant part of unregistered business activity in B&H which disables exact
measurement of actual level of unemployment.
Deficits of current account balance in relative amount of 23.9 of share in GDP is result of foreign
trade deficit in amount of EUR 3.7 billion. Coverage of import by exported goods was 34.4%. Such
results indicate to the need for providing incentives to foreign direct investments with purpose of
strengthening competitive ability of economy and its export orientation. Total foreign investments in
year 2005 reached the value of EUR 338 mio. At the same time, net FX reserves had value of EUR
2.14 billion, while external debt amounted to EUR 2.15 billion.
Economic indicators
2001 2002 2003 2004 2005
Nominal GDP (billion EUR) 5.6 6.0 6.3 6.6 7.1
Real change of GDP (% yoy) 4.5 5.5 3.0 5.0 5.8
Industrial production (% yoy) -2.0 11.5 3.8 12.0 7.0
Unemployment rate (%) 40.0 40.5 41.5 42.0 44.0
Production prices (aug, % yoy) 2.4 0.6 0.8 1.5 2.0
Consumer prices (aug, % yoy) 3.1 0.4 0.6 0.4 3.6
Government finances (% BDP) -3.3 -0.2 0.8 1.8 0.5
Current account balance (% GDP) -16.1 -22.1 -24.5 -23.5 -23.9
FX reserves (billion EUR ) 1.4 1.3 1.4 1.7 2.1
EUR/BAM (aug) 1.96 1.96 1.96 1.96 1.96
EUR/USD(aug) 0.90 0.95 1.13 1.24 1.24
Source: Thomson Financial Datastream, CB BiH, Raiffeisen RESEARCH Austria
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Makroekonomski agregati
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Finansijski sistem i dalje pokazuje karakteristike svoje bankovne zasnovanosti, što potkrepljuje
podatak o finansijskoj snazi bankarskog sistema. Naime, ukupna aktiva bankarskog sektora na
kraju 2005. godine čini 85 postotnih poena bruto domaćeg proizvoda. S druge strane, istodob-
no s financijskim jačanjem bankarskog sektora došlo je do rasta prometa na uređenim tržištima
vrijednosnih papira (SASE – Sarajevo Stock Exchange i BLSE – Banja Luka Stock Exchange). Tako
je na SASE zabilježen promet vrijednosnim papirima u iznosu od 283.77 mio EUR, dok je u isto
vrijeme na BLSE zabilježen promet od 142.14 mio EUR. U 2006. godini očekuje se nastavak
pozitivnog trenda na berzanskim tržištima, te se stoga na SASE predviđa promet vrijednosnim
papirima u iznosu od 374 mio EUR.
Konsolidacija bankarskog sektora iskazana rastom koncentracije vodećih bankarskih grupa,
ulazak stranih finansijskih institucija kroz preuzimanje domicilnih banaka, te povećanje efikas-
nosti i profitabilnosti bankarskog poslovanja fundamentalne su karakteristike bh. bankarskog
sektora u 2005. godini. Tokom godine Nova Ljubljanska Banka preuzela je dvije bh. banke
- Tuzlansku Banku i Razvojnu Banku Jugoistočne Evrope iz Banja Luke. BankAustria CreditAnstalt
izvršila je akviziciju Nove Banjalučke Banke, dok je talijanska Banca Intesa preuzela manjinski
udjel u UPI Banci iz Sarajeva, te je već na početku 2006. godine javnom ponudom stekla preko
80% vlasništva nad ovom bankom. Ovaj proces doveo do jačanja koncentracije, mjereno udje-
lom aktive 5 vodećih bankarskih grupa u ukupnoj aktivi bankarskog sektora, te ona na kraju
2005. godine iznosi preko 78 posto. Istovremeno je udjel aktive banaka u stranom vlasništvu u
ukupnoj aktivi bankarskog sektora narastao na razinu od 90.7 postotnih poena.
Tokom promatranog razdoblja aktiva bh. bankarskog sektora rasla je po stopi od 26 posto,
te je na kraju 2005. godine ostvarila vrijednost od 11.77 mlrd BAM. Doprinos kontinuiranom
i signifikantnom procesu rasta bankarskog sektora, prema nerevidiranim podacima, dao je
rast ukupnih depozita u relativnom iznosu od 27 posto. S druge strane, ukupni krediti su tokom
godine rasli po stopi od 29 posto. U konačnici ovo je dovelo do smanjenja omjera pokrivenosti
ukupnih kredita ukupnim depozitima na razinu od 1.25, što je još uvijek značajno više u odnosu
na razvijene evropske bankarske sisteme.
Promatrajući u cjelini, učinkovitost i profitabilnost bh. bankarskog sektora dosegla je respektabil-
no visoku razinu. Na kraju 2005. godine ostvarena je konsolidirana dobit poslije oporezivanja
u iznosu od 96 mio BAM, što predstavlja rast ove agregirane varijable u odnosu na prethodnu
godinu u relativnom iznosu od 71 procentnog poena.
Proces razvoja i rasta bankarskog sektora i u narednoj godini uzrokovat će nastavak konsoli-
dacijskih procesa. Unatoč tome što ove godine nije došlo do smanjenja broja banaka, u nared-
nom razdoblju taj će se proces sasvim izvjesno intenzivirati kao rezultat međusobnog spajanja
i pripajanja banaka koje su u vlasništvu istih poslovnih subjekata. Isto tako, razvoj pregovora s
EU doprinijet će usvajanju potrebnih institucionalnih okvira kao neophodnog preduvjeta u struk-
turnom jačanju bankarskog i ukupnog finansijskog sistema u Bosni i Hercegovini.

Macroeconomic Aggregates
Financial system still shows characteristics which indicate that it is based on banking, which is supported
by the data on financial strength of the banking system. Namely, total assets of the banking
sector at the end of year 2005 makes 85 of percentage points of gross domestic product. On the
other hand, along with the financial strengthening of the banking sector there was a growth of
trading oriented securities markets (SASE – Sarajevo Stock Exchange and BLSE – Banja Luka Stock
Exchange). So, securities on SASE was recorded in amount of EUR 283.77 mio, while at the same
time trading on BLSE was EUR 142.14 mio. In 2006, positive trend on stock exchange markets is
expected to be continued, and therefore SASE forecasts securities trading in amount of EUR 374
mio.
Consolidation of the banking sector is reflected in increase of concentration of leading bank groups,
entry of foreign financial institutions through acquisition of domestic banks, as well as increase in
efficiency and profitability of the banking operations are fundamental characteristics of BH banking
sector in the year 2005. During the year, Nova Ljubljanska Banka acquired two BH banks – Tuzlanska
Banka and Razvojna Banka Jugoistočne Evrope, while Italian Banca Intensa acquired minor
share in UPI Banka from Sarajevo, and already at the beginning of 2006, through the public offer,
it acquired 80% of ownership over this bank. This process led to strengthening of concentration,
measured by share of assets of 5 leading banking groups in total assets of the banking sector, and
at the end of 2005 this share was over 78%. At the same time, share of assets of banks in foreign
ownership in total assets of the banking sector reached the level of 90.7 percentage points.
During the observed period, assets of BH banking sector increased by a rate of 26 per cent, and
at the end of 2005 it realised value of BAM 11.77 billion. Contribution to continuous and significant
growing process of the banking sector, according to the unaudited data, resulted in growth of
total deposits in relative amount of 27 percent. On the other side, total loans increased under the
rate of 29 percent during the year. Finally, this led to decrease of coverage ratio of total loans by
total deposits at the level of 1.25, which is still significant in comparison to the developed banking
systems.
By observing the overall situation, efficiency and profitability of BH banking sector reached respectably
high level. At the end of 2005, consolidated profit after taxation was generated in amount of
BAM 96 mio, which represents increase of these aggregated variables in comparison to the previous
year in relative amount of 71 percentage points.
Process of development and growth of banking sector will cause continuation of consolidation processes
in the forthcoming year as well. Despite the fact that there was no decrease in number of
banks in this year, in the next period this process will be certainly intensified as a result of mutual
merger and acquisition of banks which are owned by the same legal entities. Also, development
of negotiations with EU will contribute to adoption of required institutional frames as a necessary
precondition in structural strengthening of banking sector and overall financial system in Bosnia
and Herzegovina.
www.raiffeisenbank.ba
15

RZB Grupacija i Raiffeisen International
RZB Grupacija i
Raiffeisen International
16 www.raiffeisenbank.ba
Raiffeisen International je u potpunosti konsolidovano supsidijarno lice Raiffeisen Zentralbank Österreich
AG (RZB) sa sjedištem u Beču. RZB je matična kompanija RZB grupacije i centralna institucija austrijske
Raiffeisen bankarske grupacije, najjače bankarske grupacije u zemlji sa najvećom lokalnom distribucijskom
mrežom.
Osnovan 1927. godine, RZB pruža cijelu lepezu komercijalnih i usluga investicionog bankarstva u Austriji i
smatra se pionirom u Centralnoj i Istočnoj Evropi (CIE). Ona je među vodećim bankama u regionu. Svoje
komercijalne, investicijske i usluge poslovanja sa fizičkim licima pruža na sljedećim tržištima: Albanija,
Bjelorusija, Bosna i Hercegovina, Bugarska, Hrvatska, Češka Republika, Mađarska, Kosovo, Poljska,
Rumunija, Rusija, Srbija i Crna Gora, Slovačka, Slovenija i Ukrajina.
Raiffeisen International radi kao rukovodeća kompanija koja posjeduje većinu dionica (u većini slučajeva
100 ili gotovo 100 posto). Također, brojna društva za finansijski lizing (uključujući jedno u Kazahstanu)
dio su grupacije. Nakon najveće inicijalne javne ponude u istoriji Austrije u aprilu 2005., RZB je ostao
većinski dioničar Raiffeisen International-a sa 70-procentnim udjelom u kapitalu. Preostalih 30 procenata
je u slobodnom opticaju, i u vlasništvu je institucionalnih i retail investitora.
Sa krajem 2005., 2.443 podružnica pokrivalo je region CIE-a i preko 43.600 zaposlenih koji su pružili
usluge za 9,7 miliona klijenata.
Sa krajem 2005., ukupna aktiva Raiffeisen International-a iznosila je € 40,7 milijardi, što je za 41 procenat
više u poređenju sa decembrom 2004. Konsolidovani profit (nakon manjinskih dioničara) u skladu
sa MFRS-om iznosio je € 382,3 miliona, što predstavlja povećanje za 83 procenta. Povrat na kapital prije
poreza dostigao je 21,8 procenata a koeficijent trošak/prihod je poboljšan na 61,6 procenata.
Zaključno sa 31. decembrom 2005., ukupna bilansna svota RZB grupacije iznosila je € 93,9 milijardi,
sto je do 38 procenata više od kraja 2004. godine. Dobit prije poreza u skladu sa MFRS-om iznosila je €
929,9 miliona, što predstavlja povećanje od 34 procenta u poređenju sa istim periodom 2004. Povrat na
kapital prije poreza bio je 23,9 procenata a koeficijent trošak/prihod poboljšan je na 58,9 procenata.
Pored bankarskih poslova – koji su upotpunjeni i predstavništvima u Litvaniji (Vilnius), Moldaviji (Chisinau)
i Rusiji (Moskva) – RZB vodi nekoliko specijalizovanih kompanija u CIE-u koje nude rješenja, između ostalog
u oblasti M&A-a, razvoju nekretnina, upravljanja fondovima, lizinga i stambenog kreditiranja.
U Zapadnoj Evropi i u Sjedinjenim Državama, RZB upravlja filijalom u Londonu i predstavništvima u Njujorku,
Briselu, Frankfurtu, Milanu, Parizu i Štokholmu. Finansijska kompanija u Njujorku (sa predstavnistvima
u Čikagu i Hjustonu) i supsidijarna banka na Malti upotpunjuju ovu lepezu. U Aziji, RZB vodi filijale
u Pekingu (sa predstavništvom u Zhuhaiu) i Singapuru kao i predstavništva u Ho Si Minu, Hong Kongu,
Mumbaiu, Teheranu i Seulu. Ovo međunarodno prisustvo jasno podvlači strategiju banke na tržištima u
razvoju.
RZB je rangiran na sljedeći način:
• Standard & Poor’s Kratkoročni A1
• Moody’s Kratkoročni P-1
• Moody’s Dugoročni A1
• Moody’s Finansijska snaga C+
www.rzb.at, www.ri.co.at

The RZB Group and
Raiffeisen International
RZB Group & Raiffeisen International
Raiffeisen International in turn is a fully consolidated subsidiary of Vienna-based Raiffeisen Zentralbank
Österreich AG (RZB). RZB is the parent company of the RZB Group and the central institution of the Austrian
Raiffeisen Banking Group, the country’s most powerful banking group with the largest local distribution
network.
Founded in 1927, RZB provides the full range of commercial and investment banking services in Austria
and is regarded a pioneer in Central and Eastern Europe (CEE). It ranks among the region’s leading
banks, offering commercial, investment and retail banking services in the following markets: Albania,
Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Kosovo, Poland, Romania,
Russia, Serbia and Montenegro, Slovakia, Slovenia and Ukraine.
Raiffeisen International acts as these banks’ steering company, owning the majority of shares (in most
cases 100 or almost 100 per cent). Furthermore, numerous finance leasing companies (including one
in Kazakhstan) are part of the group. Following the largest IPO in Austria’s history in April 2005, RZB
remains Raiffeisen International’s majority shareholder owning 70 per cent of the capital stock. The
remaining 30 per cent is free-float, owned by institutional and retail investors.
At year-end 2005, 2,443 business outlets covered the CEE-region and more than 43,600 employees
attended to 9.7 million customers.
As of year-end 2005, Raiffeisen International’s total assets amounted to € 40.7 billion, up 41 per cent compared
with December 2004. Consolidated profit (after minorities) according to IFRS came to € 382.3 million,
an increase of 83 per cent. The return on equity before tax reached 21.8 per cent and the cost/income
ratio improved to 61.6 per cent.
As per 31 December 2005, the RZB Group’s balance-sheet total amounted to € 93.9 billion, up 38 per cent
on the figure for year-end 2004. IFRS-compliant profit before tax amounted to € 929.9 million, an increase
of 34 per cent compared with the same period of 2004. The return on equity before tax was 23.9 per cent
and the cost/income ratio improved to 58.9 per cent.
In addition to its banking operations – which are complemented by representative offices in Lithuania (Vilnius),
Moldova (Chisinau) and Russia (Moscow) – RZB runs several specialist companies in CEE offering
solutions, among others, in the areas of M&A, real estate development, fund management, leasing and
mortgage banking.
In Western Europe and the USA, RZB operates a branch in London and representative offices in New York,
Brussels, Frankfurt, Milan, Paris and Stockholm. A finance company in New York (with representative offices
in Chicago and Houston) and a subsidiary bank in Malta complement the scope. In Asia, RZB runs branches
in Beijing (with a representative office in Zhuhai) and Singapore as well as representative offices in Ho Chi
Minh City, Hong Kong, Mumbai, Tehran and Seoul. This international presence clearly underlines the bank’s
emerging markets strategy.
RZB is rated as follows:
• Standard & Poor’s Short-term A1
• Moody’s Short-term P-1
• Moody’s Long-term A1
• Moody’s Financial Strength C+
www.rzb.at, www.ri.co.at
www.raiffeisenbank.ba
17

Raiffeisen BANK d.d. Bosna i Hercegovina
Raiffeisen BANK d.d.
Bosna i Hercegovina
18 www.raiffeisenbank.ba
Raiffeisen BANK d.d. Bosna i Hercegovina , je članica RZB grupacije i supsidijarno lice Raiffeisen
International Bank-Holding AG.
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 Europen” dodijelio je Market banci nagradu, kao
najboljoj bankarskoj instituciji u Bosni i Hercegovini za 1999. godinu.
Raiffeisen Zentralbank Österreich AG-Vienna kupuje Market banku 21. jula 2000. godine i
uspješno je integrirana u Raiffeisen mrežu u okviru koje posluje pod imenom Raiffeisen Bank dd
Bosna i Hercegovina.
U maju 2001. godine RZB postaje stopostotni vlasnik Hrvatske Poštanske banke, kada dolazi do
njenog preimenovanja u Raiffeisen BANK HPB. Od 01.01.2003. godine, kada je uspješno završen
projekat pripajanja Raiffeisen Bank HPB Raiffeisen banci, banka posluje pod jedinstvenim nazivom
Raiffeisen Bank dd Bosna i Hercegovina. Realizacijom ovog projekta Banka je ojačala svoju poziciju
na BH tržištu, povećala bilansnu masu, te značajno proširila svoju poslovnu mrežu.
Vlasnička struktura Raiffeisen BANK dd Bosna i Hercegovina:
Raiffeisen International BANK-Holding AG: 96,99%,
Millenia Beteiligungsverwaltungs: 3,0%,
Ostali dioničari: 0,01%.
Raiffeisen banka je sa 31.12.2005. godine svoje poslove obavljala u 67 poslovnih jedinica, sa
1.195 zaposlenih.
Investiranje u nove tehnologije, iskusno i educirano osoblje koje se stalno usavršava, naglasak na
individualnom pristupu klijentu, te uvođenje novih savremenih proizvoda i usluga predstavlja glavne
faktore konkurentnosti Raiffeisen banke na bosansko-hercegovačkom tržištu.
Raiffeisen grupu u Bosni i Hercegovini pored Raiffeisen banke čine Investicijski fond MI Group, Raiffeisen
osiguranje- UNIQA Group Austria, Raiffeisen Brokers i Raiffeisen Leasing.

Raiffeisen BANK d.d.
Bosnia and Herzegovina
Raiffeisen BANK d.d. Bosnia and Herzegovina
Raiffeisen BANK d.d. Bosna i Hercegovina , is a member of the RZB Group and subsidiary of Raiffeisen
International Bank-Holding AG.
The bank has been operating since November 1992, when it has been founded as Market banka
dd Sarajevo, with the dominant participation of private capital (over 90 %). Quality of business
established it as a very successful and profitable bank.
From 1996 to 2000 the Bank was one of the leading partners in international financial institutions
(World Bank, IFC, KFW, SOROS, EBRD) for implementation of credit lines. British finance magazine
“Central European” awarded Market banka for The Best Banking Institution in B&H in 1999.
On July 21, 2000 Raiffeisen Zentralbank Österreich AG-Vienna purchased Market Banka. Market
banka has been successfully integrated into the Raiffeisen network and today it operates under the
name of Raiffeisen Bank dd Bosnia and Herzegovina.
In May 2001 RZB became the majority owner of Hrvatska Poštanska Bank, on which occasion it was
renamed to Raiffeisen BANK HPB. From January 1, 2003, when the project of integration of Raiffeisen
Bank HPB into Raiffeisen Bank was successfully implemented, the Bank has been operating
under the common name of Raiffeisen Bank dd Bosna i Hercegovina. Implementation of the project
strengthened the position of the Bank in BH market and increased the balance sheet volume to over
one billion KM, significantly extending the branch network.
Ownership structure of Raiffeisen BANK dd Bosna i Hercegovina
Raiffeisen International BANK-Holding AG 96,99 %
Millenia Beteiligungsverwaltungs 3,0 %
Other shareholders 0,01%
As of December 31, 2005 Raiffeisen Bank has been performing its business operations through 67
business units and has 1,195 employees.
Investing in new technologies, experienced and trained staff who are constantly improving their
skills, emphasis on individual approach to the customer and introduction of new, up-to-date products
and services are the main factors of the competitiveness of Raiffeisen Banke in BH market.
Raiffeisen Group in Bosnia and Herzegovina is consisted of Investment Fund MI Group, Raiffeisen
Insurance-UNIQA Group Austria, Raiffeisen Brokers and Raiffeisen Leasing.
www.raiffeisenbank.ba
19

Raiffeisen BANK d.d. Bosna i Hercegovina
20 www.raiffeisenbank.ba
Vizija
• Raiffeisen BANK d.d. Bosna i Hercegovina je vodeća banka u svim ciljanim segmentima
klijenata širom zemlje.
Misija
• Težimo ka dugoročnim vezama sa klijentima.
• Nudimo čitav niz usluga visoke kvalitete.
• Kao dio mreže Raiffeisen International-a, doprinosimo postignućima sveukupnih
ciljeva grupacije generisanjem održivog i iznadprosječnog povrata na kapital za naše
dioničare.
• Kao članica RZB Grupacije usko sarađujemo sa Raiffeisen Zentralbank i ostalim
članicama Austrijske Raiffeisen bankarske grupacije.
• Ohrabrujemo naše radnike da budu poduzetni, pokažu inicijativu a mi potičemo njihov
razvoj.
Članice Raiffeisen grupacije u BiH koriste internacionalni Raiffeisen logo koji
se sastoji od dvije stilizirane ukrštene glave konja, simbol koji se može naći u
hiljadama godina staroj narodnoj tradiciji Evrope. To je simbol odbrane od zla
i životne opasnosti koji se još uvijek može naći na seoskim kućama Centralne
Evrope. Prema ciljevima osnivača, članovi Raiffeisena su se zaštitili od ekonomskih
nesigurnosti tako što su se ujedinili i izabrali Gable Cross kao amblem za
zaštitu pod zajedničkim krovom. Logo se razvio u internacionalni dobro poznati znak koji predstavlja
pozitivnu asocijaciju i koristi se diljem svijeta.

Vision
Raiffeisen BANK d.d. Bosnia and Herzegovina
• Raiffeisen BANK d.d Bosna i Hercegovina, is the leading bank in all target customer
segments across the country.
Mission
• We seek long-term customer relationships.
• We provide a full range of high quality financial services.
• As part of the Raiffeisen International network, we contribute to the achievement of the
overall group objectives, while generating sustainable and above-average return on
equity for our shareholders.
• As a member of the RZB Group, we cooperate closely with Raiffeisen Zentralbank and
the other members of the Austrian Raiffeisen Banking Group.
• We empower our employees to be entrepreneurial, to show initiative and we foster their
development.
The Members of Raiffeisen Group in B&H use international Raiffeisen logo that consists
of two stylized crossed horses’ heads and can be traced back hundreds of years
to European folk traditions. It is a symbol of defense against evil and life’s dangers
and can still be found on rural houses in Central Europe. According to their founder’s
objectives, Raiffeisen’s members have safeguarded themselves against economic
hazards by uniting within the cooperative and therefore chose the Gable Cross as an
emblem of protection under a shared roof. The logo has developed into an internationally well-known
and very positively associated trademark and is in use around the world.
www.raiffeisenbank.ba
21

Uprava Banke
Bank Management
22 www.raiffeisenbank.ba

www.raiffeisenbank.ba
23

24 www.raiffeisenbank.ba

www.raiffeisenbank.ba
25

26 www.raiffeisenbank.ba

www.raiffeisenbank.ba
27

Organizaciona struktura banke
Organisation Structure of the Bank
Mreža glavnih filijala
Main Branches Network
Glavna filijala Sarajevo
Main Branch Sarajevo
Glavna filijala
Banja Luka
Main Branch
Banja Luka
Glavna filijala Mostar
Main Branch Mostar
Glavna filijala Tuzla
Main Branch Tuzla
Glavna filijala Zenica
Main Branch Zenica
Glavna filijala Bihać
Main Branch Bihać
Filijala Brčko
Branch Brčko
28 www.raiffeisenbank.ba
Sektor za poslove
sa stanovništvom
Retail Division
Odjeljenje za razvoj
proizvoda i njihovu
koordinaciju u poslovnoj
mreži
Product Development &
Network Coordination
Odjeljenje kartično
poslovanje
Cards Business
Sektor podrške
i platnog prometa
Central Processing
Division
Odjeljenje za
medjunarodni
platni promet
International
Payments
Department
SWIFT administracija
SWIFT Administration
Odjeljenje
unutrašnjeg platnog
prometa
Domestic Payments
Department
Administracija
kredita i depozita
Loan and Deposit
Administrations
Sektor za IT
IT
Odjeljenje podrške
informacionim
tehnologijama
Support and IT
Department
Odjeljenje za razvoj
i održavanje
aplikativnog
software-a
Development and
Maintenance of
Application
Software
Odjeljenje za IT GF
Mostar
IT of MB Mostar

Nadzorni odbor
Supervisory Board
Uprava banke
Direktor
Izvršni direktori
Asistent Uprave
Bank Menagement
CEO
Executive Directors
Menagement Assistant
Sektor za finansije i
računovodstvo
Finance & Accounting
Division
Odjeljenje za
računovodstvo
i finansijsko
izvještavanje
Accounting &
Financial Reporting
Odjeljenje za
finansijsku
operativu
Financial
Operations
Odjeljenje za
odnose sa
filijalama
Branch
Relationship
Sektor za poslove sa
pravnim licima
Corporate Division
Odjeljenje koordinacije i
projektnog finansiranja
Coordination and Project
Finance
Odjeljenje ICC za
poslove sa
medjunarodnim
korporativnim
klijentima
ICC- International
Corporate Customers
Department
Odjeljenje BHCC za
poslove s BiH
korporativnim klijentima
BHCC - Corporate
Customers Department
Odjeljenje za razvoj
proizvoda i kvalitet
usluga
Product Development &
Service Quality
Odjeljenje za naplatu
potraživanja
Work-outs Department
Interna revizija
Internal Audit
Sektor sredstava i
finansijskih tržišta
Treasury & Financial
Markets
Odjeljenje trgovine
Trade
Odjeljenje za
korespondentno
bankarstvo
Correspondent
Banking
Odjeljenje za
likvidnost
Liquidity
Odjeljenje za
investiciono
bankarstvo
Investment Banking
Štabne funkcije
Staff Departmens
Odjeljenje za poslove
sa SME klijentima
SME
Upravljanje rizicima i
kreditna analiza
Risk Management and
Credit Analysis
Služba za provodjenje
zakonitosti u
poslovanju Banke
Legal & Compliance
Odjeljenje za kontroling
Controlling
Koordinacija poslovne
mreže
Business Network
Coordination
Marketing
Marketing
Odjeljenje za
kadrovske poslove
Human Resources
Odjeljenje za
organizaciju i
upravljanje procesima
Organisation & Process
Menagement
Odjeljenje za sigurnost
Security
Odjeljenje za tehničko i
investiciono održavanje
Technical and
Investment
Maintenance
Odjeljenje za nabavku
i opšte poslove
Acquisition & General
Savjetnici
Consultans
www.raiffeisenbank.ba
29

Sektor za poslovanje sa pravnim licima
Sektor za poslovanje
sa pravnim licima
30 www.raiffeisenbank.ba
Sektor za poslovanje sa pravnim licima je i u 2005. godini ostvario sve planirane poslovne ciljeve.
U toku 2005. godine akvizirana su 493 nova klijenta, čime je ukupan broj korporativnih klijenata
povećan za 24%. 75% od ukupnog broja velikih kompanija na tržištu BiH posluje sa našom bankom.
U segmentu kompanija srednje veličine 61% od ukupnog broja klijenata posluje sa nama, od čega
34% klijenata koristi naše kreditne proizvode.
Portfolio izdatih instrumenata finansiranja trgovine iznosi KM 190 miliona i u odnosu na kraj prethodne
godine veći je za 43%. Depoziti pravnih lica porasli su za 6%.
U toku 2005. godine pružena je i finansijska podrška u realizaciji nekoliko značajnijih projekata naših
klijenata o oblasti:
• Preuzimanja i dodatnih investicionih ulaganja u procesu privatizacije kompanija u zemlji i
inostranstvu;
• Izgradnje i rekonstrukcije saobraćajne infrastrukture i pružanja usluga mobilne telefonije;
• Trgovine i proizvodnje čelika;
• Izvođenja građevinskih projekata u inostranstvu;
• Izgradnje i proširenja proizvodnih kapaciteta u prehrambenoj industriji;
• Širenja mreže trgovačkih centara.
U toku 2005. godine uspješno je implementiran i promoviran novi proizvod “Overdraft”, a projekat
uvođenja proizvoda “Otvorena štednja” u završnoj je fazi. Kao odgovor na potrebe naših izvoznih
kompanija izvršene su i pripremne aktivnosti na uvođenju “Forfaiting” – a.
U cilju optimizacije poslovnih procesa, prilagođavanja ponude i usluga specifičnom segmentu klijenata
i specifičnostima lokalnih tržišta, u toku 2005. godine izvršene su i sve pripremne aktivnosti za
reorganizaciju Sektora za poslove sa pravnim licima. Ključni izazov u poslovanju je efikasnije i brže
administriranje najraznovrsnijih zahtjeva klijenata, upotreba novih modernih informatičkih sistema i
razvoj novih prozivoda.

Corporate Banking Division
Corporate Banking Division
In 2005, Corporate Division achieved all planned business goals. During 2005, 493 new customers
were acquired, on basis of which total number of corporate customers increased by 24%. 75% of
total number of large companies in BH market operate with our Bank. In segment of medium size
enterprises, 61% of total number of customers operate with us, of which 34% of customers utilise our
loan products.
Portfolio of issued trade finance instruments amounts to KM 190 milion and in comparison to the end
of the previous year it is higher by 43%. Deposits of corporate entities increased by 6%.
During 2005, financing was provided in realisation of several significant projects of our customers in
the following areas:
• Taking over additional capital investments in privatisation process of companies in the country
and abroad;
• Construction and reconstruction of traffic infrastructure and providing services of mobile telephony;
• Trade and production of steel;
• Performance of construction projects abroad;
• Construction and expansion of production capacities in food industry;
• Expanding network of shopping centres.
During 2005, new product ‘’Overdraft’’ was successfully implemented and promoted, and project of
introducing the product ‘’Open Savings’’ is in its closing phase. As an answers to the needs of our
export companies, there were also some preparation activities on introduction of “Forfeiting’’.
In the course of 2005, with purpose of optimising business processes, adjustment of offers and services
to specific segment of customers and specifics of local markets, all preparation activities were
made for reorganisation of Corporate Division. Key challenge in business operations is more efficient
and faster administration processing of various customers’ applications, utilisation of new sophisticated
IT systems and development of new products.
www.raiffeisenbank.ba
31

Sektor za poslovanje sa stanovništvom
Sektor za poslovanje
32 www.raiffeisenbank.ba
sa stanovništvom
Štednja stanovništva
U odnosu na prethodnu godinu ukupni depoziti stanovništva su porasli za 21,79%, te je planska
kategorija za 2005. godinu ispunjena sa 115%.
Dugoročna štednja je na kraju godine dostigla učešće od 42% u ukupnim depozitima stanovništva,
što predstavlja značajno povećanje učešća u odnosu na 2004. godinu kad je isto iznosilo 32%.
Novi proizvod “Slobodna štednja”, uveden krajem 2004. godine, daje pune efekte u 2005. godini.
Zahvaljujući fleksibilnosti (višekratne uplate i isplate po jednom ugovoru o oročenom depozitu), na
kraju poslovne godine stanje “Slobodne štednje” je bilo KM 41,723.315,00, što je značajno uticalo
na poboljšanje ročne strukture oročene štednje.
Najbolja ilustracija ostvarenih rezultata u 2005. godini je podatak da Banka učestvuje sa 27,4% u
ukupnoj štednji stanovništva deponovanoj u komercijalnim bankama u BiH.
Neutralni poslovi
Na oko 200 lokacija kod sva tri poštanska preduzeća u Bosni i Hercegovini obavljaju se mjenjački
poslovi u ime Banke, pored postojeće mreže Raiffeisen banke.
U sistemu brzog slanja novca putem sistema Western Union-a, mreža je proširena za 33 nove
lokacije (5 se odnosi na Banku, a 28 na podzastupnike). Tako je sa krajem godine dostignut njihov
ukupan broj od 373.
Zahvaljujući širenju mreže, pojačanoj marketinškoj aktivnosti, automatizaciji lokacija, te poboljšanju
tehničkih uslova i kvaliteta usluge, i pored pojačanog marketinškog djelovanja konkurencije, u 2005.
godini je ostvareno 181.040 transfera (uključujući i podzastupnike), što predstavlja povećanje od
17,43% u odnosu na prethodni period, dok je plan za 2005. godinu ispunjen sa 112,30%.
U strukturi nekamatonosnih prihoda, u odnosu na 2004. godinu, najveći porast od 29,4% su ostvarili
prihodi od kartičnog poslovanja, te 22,6% prihodi od privatnih doznaka stanovništva.
Kanali distribucije i kvalitet usluga
Banka je u 2005. godini nastavila širenje svoje poslovne mreže otvaranjem šest novih organizacionih
jedinica, te je sa ukupnim brojem od 67 organizacionih jedinica i u ovom segmentu zadržala
jednu od značajnijih pozicija na tržištu. Angažovani su alternativni kanali distribucije (javni poštanski
operateri i hoteli). Navedeno nas, uz postojeću mrežu POS i ATM uređaja, svrstava među vodeće
banke kada je riječ o kanalima distribucije.
Efekat pomenutih aktivnosti se pokazao kroz akviziciju 94.669 novih klijenata u 2005. godini u
poslovima sa stanovništvom, čime je dostignut njihov kumulativ od 519.025, te je planska kategorija
sa krajem godine ostvarena sa 104%.

Retail Division
Retail Savings
Compared to previous year, total retail deposits increased by 21,79%, and budgeted category for
2005 was fulfilled with 115% accordingly.
Long-term savings at the end of the year reached the share of 42% of overall retail deposits, which
represents significant increase of share compared to 2004 when the same was 32%.
By the end of 2004, new product called “Free Savings” was introduced, and it gave full effects in the
reporting year. Thanks to its flexibility (opportunity of making numerous payments and withdrawals
on one agreement on term deposit), at the end of the business year the balance of “Free Savings”
amounted to KM 41,723.315,00, which significantly influenced the improvement of the maturity
structure of term savings deposits.
The best illustration of achieved results in 2005 is data that the Bank participates with 27,4% in total
retail savings deposited in commercial banks in BiH.
Fee Income
On approximately 200 locations with all three post-office companies in Bosnia and Herzegovina,
exchange business is performed on behalf of the Bank, in addition to existing network of Raiffeisen
banka.
In the system of fast money transfer via Western Union, the network was extended by 33 new locations
(5 relate to the Bank, and 28 to sub-agents), therefore as of the end of the year, total number
of 373 was reached.
Thanks to network extension, strengthened marketing activities, automating of locations, and
improvement of technical conditions and service quality, despite increased marketing activities
of competition, 181.040 transfers were executed in 2005 (including sub-agents), which represents
17,43% increase compared to previous period, while the budget for 2005 is fulfilled with
112,30%.
In the structure of fee income, compared to 2004, the largest increase of 29,4% was generated from
cards business, and 22,6% from transfers of private individuals.
Distribution channels and service quality
In 2005, the Bank continued with extension of its business network with opening 6 new organisational
units, therefore with total number of 67 organisational units it retained one of significant
market positions in this segment. Alternative distribution channels were engaged (public PTT operators
and hotels). With existing network of ATM and POS machines, the above puts us among leading
banks when talking about distribution channels.
Effect of above-mentioned activities reflected in acquisition of 94.669 new customers in 2005 in
retail lending, through which their cumulative of 519.025 was reached, and budgeted category was
fulfilled by the end of the year with 104%.
www.raiffeisenbank.ba
Retail Division
33

34 www.raiffeisenbank.ba
Kartični poslovi
Ostvaren je rast u izdavanju kartica od 25,52% u odnosu na 2004. godinu, pri čemu su kreditni
kartični proizvodi, uključujući i charge kartice, rasli po stopi od 13,83% , a debitni po stopi od
28,90%.
Mreža prihvata kartica proširena je sa novih 516 POS terminala i 24 ATM-a, tako da je godina
završena sa 1960 POS terminala i 63 ATM-a.
Promet po osnovu plaćanja roba i usluga putem POS terminala zabilježio je stopu rasta od 39,34%,
dok je promet po osnovu podizanja gotovine veći za 32,66%, pri čemu je promet na ATM-ovima
porastao za 52,96%, a na POS terminalima za 23,72%.
Visoki rast broja i vrijednosti transakcija u prihvatnoj mreži Banke u 2005. godini rezultat je
ne samo proširenja mreže nego i rasta broja izdatih kartica u BiH i jačanja navika klijenata za
korištenje kartica.
Potvrda uspješnosti Banke kao Agenta za nacionalno poravnanje transakcija Visa Internacional
karticama nastalim u BiH je i produženje ugovora za naredni trogodišnji period sa kartičnom organizacijom
i bankama članicama.
Cijela godina bila je u znaku pripremnih aktivnosti za migraciju na novi kartični software, koji treba
da obezbijedi adekvatnu informatičku podršku kao preduslov za naš odgovor na sve veće tržišne
izazove u ovom segmentu poslovanja.

Cards Business
Growth in issuing cards of 25,52% was achieved compared to 2004, where credit card product,
including charge cards, increased at the rate of 13,83%, and debit cards at the rate of 28,90%.
Card acquiring network was extended with 516 new POS terminals and 24 ATMs, therefore this year
was concluded with 1960 POS terminals and 63 ATMs.
Turnover relative to payments of goods and services via POS terminals saw growth rate of 39,34%,
while turnover relative to cash withdrawals increased by 32,66%, thereof turnover on ATMs
increased by 52,96%, and on POS terminals by 23,72%.
Sharp rise in number and value of transactions in acquiring network of the Bank in 2005 is result of
not only extension of the network, but also increase in number of issued cards in B&H and strengthening
habit of customers to use cards.
Confirmation of successfulness of the Bank as the National Net Settlement Agent of Visa International
for cards issued in B&H is also extension of agreement for the additional three-year period
with card organisations and member banks.
The whole year was marked by preparations for migration to new cards software which should
provide adequate IT support as the precondition for our responding to growing market challenges
in this business segment.
www.raiffeisenbank.ba
35

Sektor za poslovanje sa stanovništvom
SME segment
SME tržište
Tržište BiH je pretežno SME tržište, pa tako i najveći broj pravnih lica klijenata Banke predstavljaju SME klijente. Prema
podacima USAID-a iz 2004. godine, na području BiH registrirano je cca 60.000 SME klijenata. Entitetske poreske
uprave procjenjuju da je ovaj broj mnogo veći i da postoji preko 100.000 SME klijenata. Prema istom izvoru, najzastupljenija
je kategorija mikro preduzeća sa ukupno 10 zaposlenih (91% od ukupnog broja SME preduzeća).
Banka u funkciji SME
Raiffeisen banka je prepoznala važnost i perspektivu SME tržišta u zemlji i krajem 2004. godine sprovela reorganizaciju
da bi se mogla približiti malom i srednjem klijentu i ponuditi mu uslugu primjerenu njegovim specifičnim
potrebama, korištenjem poslovne mreže Banke.
Prema Odluci Nadzornog odbora Banke o izmjeni postojeće organizacije i sistematizacije poslova Banke, 1. januara
2005. uspostavljen je SME Segment kao novi organizacioni dio u sklopu Sektora poslovanja sa stanovništvom.
SME klijenti su segmentirani na Micro i Small klijente, a prema ostvarenom godisnjem ukupnom prihodu.
Novi proizvodi i edukacija
• U 2005, lansirana su dva paketa SME proizvoda (Raiffeisen Espresso i Produženi Espresso).
• Kontinuirana edukacija front funkcije, koja se u 2005. obučavala za prodaju standardiziranih proizvoda, što je
jedan od osnovnih postulata SME prodaje.
Prodaja
• Raiffeisen espresso lansiran u martu: do 31.12.2005: prodana 202 paketa u iznosu
KM 6,7 mio
• Produženi Espresso lansiran u oktobru: do 31.12.2005, prodana 103 paketa u iznosu
KM 7 mio; od čega je u decembru 2005 prodato 70 paketa u iznosu KM 4,6 mio.
Brza usluga kroz optimiziran SME proces
• Approval Process System je takođe projekat SME u 2005. APS podržava elektronski proces odlučivanja za sve
involvirane funkcije od podnošenja kreditnog zahtjeva do trenutka donošenja Odluke, a radi na principu Internet
platforme. Ovo je prva aplikacija u RI mreži koja je povezana sa Core sistemom.
Ključni pokazatelji
• Ukupan broj SME klijenata na dan 31.12.2005. iznosi cca 17.000
• U srednjoročnom planu do 2008. godine, Raiffeisen banka je predvidjela značajan porast SME portfelja. U 2005.
godini, ostvareno je planirano povećanje SME kreditnog portfelja za cca 30% u odnosu na prethodnu godinu
• Sa 31.12.2005. SME Segment je postigao budžetom postavljene ciljeve i premašio prosječnu aktivu za 7%
• Gross Income: 18% preko budžeta; Commission result: 36% preko budžeta
36 www.raiffeisenbank.ba

SME segment
SME market
BiH market is mostly an SME market, so that the largest number of corporate customers of the Bank are SME customers.
Based on information of USAID for 2004, there are ca 60.000 of registered SME customers in the area of
BiH. Entity-level tax authorities estimated that this number was much higher and that there were over 100.000 SME
customers. According to the same source of information, the most dominant category are micro enterprises with total
of 10 employees (91% of total number of SME companies).
Bank in function of SME
Raiffeisen Bank has recognised the importance and perspectives of SME market in the country and at the end of 2004
performed reorganisation in order to get closer to small and middle market customers and offer them a kind of service
that is corresponding to their specific needs by using Bank’s business network.
Based on the Decision of the Supervisory Board of the Bank on Changes to the Existing Organisation and Job Classification
of the Bank, an SME segment was established on 1st of January 2005 as new organisational part within
the Retail Division.
SME customers are segmented to Micro and Small customers based on their generated total annual income.
New products and training
• Two packages of SME products were launched in 2005 (Raiffeisen Espresso and Long Espresso).
• Continuous training of Front function which, in 2005, encompassed training related to sale of standardised products
as one of the main foundations of SME sale.
Sale
• Raiffeisen espresso was launched in March: 202 packages were sold until 31.12.2005 in amount of
KM 6,7 mio
• Long Espresso was launched in October: 103 packages were sold until 31.12.2005 in amount of
KM 7 mio; out of which 70 packages were sold in December 2005 in amount of KM 4,6 mio.
Prompt service through an optimised SME process
• Approval Process System was also an SME project for 2005. APS supports the electronic decision-making process
relative to all involved functions starting from submission of loan application to the moment of issuing a Decision
and it functions on basis of an Internet platform principle. This is the first application in RI Network that is connected
with the Core system.
Key indicators
• Total number of SME customers as of 31.12.2005 is ca 17.000
• In the mid-term plan until 2008, Raiffeisen Bank projected significant growth of SME portfolio. In 2005, budgeted
increase of SME loan portfolio was achieved by ca 30% compared to the previous year
• As of 31.12.2005, SME Segment achieved budgeted goals and exceeded average assets by 7%
• Gross Income: 18% over the budget; Commission result: 36% over the budget
www.raiffeisenbank.ba
Retail Division
37

Sektor sredstava i finansijskih tržišta
Sektor sredstava
i finansijskih tržišta
38 www.raiffeisenbank.ba
U cilju prilagođavanja politike razvoja proizvoda Banke u protekloj godini je uvedena funkcija
makroekonomskih i finansijskih istraživanja, što će u budućnosti omogućiti pružanje bitnih
informacija odgovarajućim funkcijama Banke.
Primarni ciljevi Sektora sredstava i finansijskih tržišta u 2005. bili su orjentirani na:
• povećanje prihoda iz poslova kupo-prodaje deviza i efektivnog stranog novca, gdje je realizovan
prihod za 13 % veći od prihoda iz prethodne godine;
• povećanje obima depozitarskih poslova, gdje je realizovan prihod veći za 45 % od prihoda iz
prethodne godine;
• smanjenje troškova korespondentne i kontokorentne mreže Banke, gdje su izmjenom metoda
procesiranja platnih naloga, troškovi smanjeni za 43% u odnosu na prethodnu godinu;
• nastavak odlične saradnje sa supranacionalnim finansijskim institucijama, s ciljem obezbjeđenja
dugoročnih izvora finansiranja. U ovoj godini zaključeno je novih EUR 259 mio što je bilo
dostatno za potrebe dugoročnog finansiranja klijenata Banke za 2005. godinu, kao i za planirane
aktivnosti u prvoj polovici 2006. godine.
Pored navedenih aktivnosti, zadaci poput: održavanja visoke likvidnosti Banke (tokom čitave godine
preko 40%), ispunjenja obavezne rezerve uz najefikasnije disponiranje novčanim sredstvima na
računu kod CBBiH i u inostranstvu, adekvatno upravljanje ročnom usklađenošću aktive i pasive u
uvjetima rigidnih zakonskih ograničenja, bile su permanentne aktivnosti vođene iz Sektora sredstava
i finansijskih tržišta.
Krajem 2005. započet je projekt Skrbništvo nad vrijednosnim papirima s namjerom organizacionog,
proceduralnog i programskog okončanja u prvoj polovici naredne godine. Organizaciono
ovi poslovi se planiraju voditi unutar Odjeljenja za investiciono bankarstvo čime bi sa poslovima
brokerske kuće Raiffeisen Brokers d.o.o. zaokružili proces trgovine vrijednosnim papirima za račun
klijenata.
U pogledu edukacije, tokom ove godine, posebna pažnja je posvećena usavršavanju mladih i
perspektivnih kadrova, čime je postignut visok nivo profesionalnosti i samostalnosti u obavljanju
specijalističkih zadataka. Posebno ističemo zvanja investicionog savjetnika i brokera za dva uposlenika
ovog Sektora, čime su stvorene pretpostavke za proširenje dijapazona proizvoda planiranih
u narednoj godini.

Treasury and Financial
Market Division
With purpose of adjusting product development policy of the Bank, in the previous year, function of
macroeconomic and financial researches was introduced, which in future would enable providing of
important information to appropriate functions of the Bank.
Primary aims of Treasury and Financial Markets Division in 2005 are oriented to:
Treasury and Financial Market Division
• Increase of income based on operations of sales/purchase of foreign currencies and foreign cash,
where generated income is by 13% higher than income from the previous year;
• Increase of volume of depositary operations, where generated income is higher by 45% than
income from the previous year;
• Decrease of costs of correspondent and current accounts’ network of the Bank, where on basis of
change of method of payment orders processing, costs have decreased by 43% in comparison to
the previous year;
• Continuation of excellent cooperation with supranational financial institutions, with purpose of
securing long term sources of financing. In this year, amount of additional EUR 259 mio was
concluded which was sufficient for the needs of long term financing of customers of the Bank for
year 2005, as well as for planned activities in the first half of year 2006.
Apart from mentioned activities, tasks such as: maintaining high liquidity of the Bank (over 40% during
the whole year), fulfilment of legal reserves with the most efficient disposal of cash funds on the
account with CBBiH and abroad, adequate management of maturity matching of assets and liabilities
under conditions of rigid legal limitations, were permanent activities operated from Treasury and
Financial Markets Division.
At the end of 2005, project named Custody over Securities has started with purpose of organisational,
procedural and programme finalisation in the first half of the following year. Organisationally,
all operations are planned to be run within the Investment Banking Department which would, along
with operations of brokerage house Raiffeisen Brokers d.o.o., finalise process of securities trading for
customers’ account.
In terms of training, during this year, special attention was dedicated to training of young and perspective
employees, on basis of which high level of professionalism and independence is achieved
in performance of special assignments. We especially point out positions of investment advisor and
broker for two employees of this Division, which created preconditions for expansion of product range
planned in the next year.
www.raiffeisenbank.ba
39

Sektor za finansije i računovodstvo
Sektor za finansije
i računovodstvo
40 www.raiffeisenbank.ba
Poslovi koji se u Sektoru obavljaju uključuju: vođenje računa - nivo glavne knjige, njihovo
funkcionalno povezivanje i usklađivanje, troškovno knjigovodstvo i plaćanje obaveza, knjigovodstveno
izvještavanje svih nivoa korisnika, sve poslove finansijske operative, te interne odnose
Centrala- filijale.
Sektor je podijeljen na tri odjeljenja:
- Odjeljenje za računovodstvo i finansijsko izvještavanje,
- Odjeljenje za finansijsku operativu,
- Odjeljenje za odnose sa filijalama.
Odjeljenje za računovodstvo i finansijsko izvještavanje
U ovom odjeljenju se usklađuju analitička konta sa stanjem sintetike, prate dozvoljena stanja
svakog računa, zatim se ukazuje na eventualne nelogičnosti stanja i insistira kod nadležnih službi na
njihovom otklanjanju. Sastavljaju se računovodstveni izvještaji za potrebe regulacionih organizacija,
državnih organa, vlasnika, kao i za interne potrebe.
Za navedene korisnike, u 2005. godini sačinjeno je 900 izvještaja.
Odjeljenje za finansijsku operativu
Poslovi ovog odjeljenja su troškovno knjigovodstvo i vođenje materijalne imovine. Knjiže se i
izmiruju obaveze po raznim osnovama.
Broj likvidiranih faktura i provedenih internih naloga u 2005. godini je 85.400.
Odjeljenje za odnose sa 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 2005. godini proknjiženo 70.200 promjena.

Finance and Accounting
Division
Operations being performed in the Division include: account maintenance – general ledger level,
their functional linking and harmonisation, cost accounting and payment of liabilities, accounting
for all levels of users, all tasks of the financial operations, as well as internal relations between the
Head Office - branch.
Division is divided into three departments:
- Accounting and Financial Reporting Department,
- Financial Operations Department,
- Branch Relationship Department.
Accounting and Financial Reporting Department
This department performs harmonisation of sub-ledger accounts with the general ledger balance,
monitoring of allowed balances on each account, then indicates to possible illogic balances and
insists with competent departments on their elimination. Preparation of accounting statements is
done for the needs of regulatory bodies, state bodies, owners, as well as for internal needs.
As for the mentioned users, 900 reports was prepared during 2005.
Financial Operations Department
Tasks of this department are cost accounting and maintenance of tangible assets. They book and
settle liabilities on different basis.
Number of settled invoices and executed internal orders in 2005 is 85.400.
Branch Relationship Department
Finance and Accounting Division
Branches perform operations for customers in their regions based on authorisations given by the
Head Office. Department established functional relationship Head Office – Branch – Head Office
through account of internal relations. Business changes are recorded and eliminated for the needs
of balance sheet positions of the Bank in the year-end report. In 2005, Department booked 70.200
changes.
www.raiffeisenbank.ba
41

Sektor podrške i platnog prometa
Sektor podrške
i platnog prometa
42 www.raiffeisenbank.ba
U izrazito dinamičnoj godini za Sektor podrške i platnog prometa primarne aktivnosti bile su:
procesiranje transakcija po svim poslovima koje sektor pokriva, a koje su u konstantnom porastu,
koordiniranje dijela operacijskih poslova koji se obavljaju u sve kompleksnijoj mreži Raiffeisen
banke, te implementacija novih proizvoda u produkcijski sistem.
Pored toga zabilježen je intenzivan angažman zaposlenika Sektora u mnogobrojnim projektima,
kako na nivou banke, tako i u okviru pojedinih poslovnih funkcija.
Samo neki od ovih projekata su:
- Mapiranje ključnih procesa,
- Predimplementacijska analiza za eventualni budući software,
- BPMS (upravljanje poslovnim procesima),
- SIX SIGMA za međunarodna plaćanja.
Međunarodni platni promet
Odjeljenje međunarodnog platnog prometa je u 2005. godini isprocesiralo 312.695 standardnih
međunarodnih plaćanja, što predstavlja 15% prosječnog povećanja u odnosu na prethodnu godinu.
Najveći porast od čak 34% zabilježen je na doznakama iz inostranstva u korist fizičkih lica.
U domenu servisiranja nerezidentnih i specijalni računa broj platnih transakcija od 658.115 u
odnosu na prethodnu godinu predstavlja povećanje od 39%.
Kao značajno dostignuće u ovom dijelu posla je i dalje poboljšanje STP stope kod inoplaćanja, što
je u ovoj poslovnoj godini potvrđeno priznanjem dodijeljenim od Deutsche Bank Frankfurt (Three
Year STP Excelence Award). Ovo oficijelno priznanje za kvalitet platnih naloga dostavljenih od
strane naše banke, dodijelila je jedna od najznačajnijih korespondentskih banaka Raiffeisen BANK
d.d. BiH za područje Evrope.
Grupa instrumenata za finansiranje trgovine izdala je 5.106 garancija, 656 uvoznih i 76 izvoznih
dokumentarnih akreditiva, što predstavlja povećanje od 18% na garancijama, odnosno 35% na
akreditivima, u odnosu na prethodnu godinu. Iz godine u godinu, povećanjem privrednih aktivnosti
u Bosni i Hercegovini, poslovi koji pokrivaju međunarodnu robnu razmjenu postaju složeniji i
kompleksniji sa stanovišta finansijskih usluga, te je pred ovom grupom zadatak stalnog praćenja
svjetskih trendova i profesionalnog usavršavanja.
Najdrastičniji porast broja transakcija ipak se desio u Back Office Tržišta novca gdje po svim segmentima
MM I FX transakcije udvostručene (procenat povećanja od 75% do 140%) u odnosu na 2004 godinu.
Paralelno, tokom cijele godine, provođene su aktivnosti da se, pažljivim odabirom pojedinih servisa
korespodentskih inobanaka, troškovi servisiranja računa u inostranstvu smanje, te u što većem
procentu pokriju prihodima iz ostvarenog rabata po osnovu međunarodnih plaćanja, te transakcija
kod plaćanja garancija/LC.
Ovo je bila vrlo uspješna akcija, jer su troškovi inoračuna u drugom polugodištu 2005. godine
manji za 17% u odnosu na prvo polugodište, a ukupno ostvareni rabat je KM 114.295,17 (EUR
58.438,19), te pokriva gotovo 60% godišnjih troškova servisiranja inoračuna KM 195,110,94
(EUR 99,758).

Central Processing Division
In an extremely dynamic year for Central Processing Division, primary activities were the following:
processing transactions under all operations which the Division covers, and which are in constant
growth, coordination of part of operating activites which are performed in Raiffeisen bank network
which becomes more complex, as well as implementation of new products in production system.
Besides that, intensive engagement of employees of Division was recorded in numerous projects,
both at level of the bank and within individual business functions.
Some of these projects are:
- Mapping the key processes,
- Pre-implementation review for possible future software,
- BPMS (business process management system),
- SIX SIGMA for international payments.
International Payments
Central Processing Division
International Payments Department in year 2005 processed 312,695 of standard international payments,
which is 15% of average increase in comparison to the previous year. The highest increase
of even 34% was recorded on remittances from abroad in favour of PIs.
Within the scope of servicing of non-resident and special accounts, number of payment transaction
of 658,115 in comparison to the previous year presents increase of 39%.
As a significant achievement in this part of operations, there is further continuation of improvement
of STP rate with international payments, which was in this business year confirmed by award of
Deutsche Bank Frankfurt (Three Year STP Excellence Award). This official award for quality of payment
orders delivered by our bank was provided by one of the most significant correspondent banks
of Raiffeisen BANK d.d. BiH for the region of Europe.
Group for trade finance instruments issued 5,106 guarantees, 656 import and 76 export documentary
letters of credit, which was increase by 18% of guarantees, i.e. 35% of letters of credit, in
comparison to the previous year. From year to year, by increasing the business activities in Bosnia
and Herzegovina, operations which cover international exchange of goods become more complex
from point of view of financial services, and this group has task to perform constant monitoring of
all world trends as well as the task of professional development.
Still, the most drastic increase of number of transactions occurred in Back Office Money Market
where under all segments MM and FX transactions doubled (percentage of increase from 75% to
140%) compared to the year 2004.
At the same time, during the whole year, activities were performed, by careful selection of individual
services of correspondent foreign banks to reduce costs of account servicing abroad, and to cover
them with income from realised discount on international payments in as high percentage as possible,
as well as transactions related to payments of guarantees/LCs.
This was very successful action since the costs of nostro accounts in the second half of 2005 are by
17% lower in comparison to the first half of the year, and total realised discount is KM 114.295,17
(EUR 58.438,19), and it covers almost 60% of annual costs of servicing nostro accounts KM
195.110,94 (EUR 99.758).
www.raiffeisenbank.ba
43

Sektor podrške i platnog prometa
44 www.raiffeisenbank.ba
Unutarnji platni promet
U toku 2005. godine kroz sistem Unutrašnjeg platnog prometa Raiffeisen banke isprocesirano je
4.158.694 dolaznih transakcija, 2.409.205 odlaznih, te 1.985.416 transakcija unutar mreže
Raiffeisen banke BiH, što predstavlja ukupno 8.553.315 transakcija.
Sam broj transakcija, sa veoma niskim procentom bilo kakvih reklamacija, ilustruje efikasnost
odjeljenja UPP u Centrali koje nadzire protok transakcija, finansijsku ispravnost, usklađenost sa
zakonskom regulativom, te kvalitet tehnoloških rješenja za pojedine poslove unutar ovog segmenta.
Ovu godinu su u UPP-u obilježile aktivnosti na veoma uspješnoj implementaciji novog prozvoda
overdraft/prekoračenje po transakcijskom računu pravnog lica.
Ovaj visokosofisticirani i visokoautomatizovani proizvod će stvarne efekte i operativne prednosti,
u odnosu na druge oblike kratkoročnog kreditiranja tekuće likvidnosti kompanija, tek pokazati u
narednom periodu i sigurno će ga većina klijenata sa zadovoljstvom prihvatiti.
Raiffeisen banka je u 2005. godini izabrana za jednu od banaka kod koje je novouspostavljena
Uprava za indirektno oporezivanje (UIO) otvorila račune za prikupljanje
prihoda od indirektnih poreza. Veoma značajan korak u reformi poreskog sistema
zemlje, kao i priprema za uvođenje poreza na dodatnu vrijednost (PDV) bio je veliki izazov
za sve učesnike - kako za samu UIO, tako i za poreske obveznike i poslovne banke.
Zahvaljujući izvanrednom angažmanu rukovodstva Odjeljenja unutrašnjeg platnog prometa, u
našoj banci svi su elementi ovog projekta pravovremeno i uspješno implementirani.Treba istaći
proaktivnu ulogu Raiffeisen banke u svim fazama implementacije. Naime implementacioni tim UIO
i CAFAO-a često se konsultovao upravo sa rukovodstvom našeg Unutarnjeg platnog prometa, jer
su prepoznali visokoprofesionalan i konstruktivan pristup naših radnika.
Raiffeisen BANK dd BiH je 2005. godinu završila kao banka preko koje je prikupljeno najviše
poreza iz ovog osnova, te u skladu s tim ostvarila najveću proviziju za ovu uslugu.
Kraj godine je je takođe protekao u pripremi infrastrukture za servise koji će pratiti uvođenje PDVa,
planirano za januar 2006.
Administracija kredita i depozita pravnih lica
U Odjeljenju za administriranje kredita i depozita pravnih lica, te pod njihovim nadzorom, u toku 2005.
godine administrirano je 3.681 kratkoročnih, te 3.592 dugoročnih kredita odobrenih pravnim licima.
Oročenih depozita za pravna lica u mreži Raiffeisen banke u istom periodu bilo je 395.
U ovom odjeljenju se takođe administriraju (povlačenje sredstava, otplata, servisiranje troškova,
izvještavanje ) 74 aktivne kreditne linije koje Raiffeisen banka koristi kao dugoročne izvore.
Krajem 2005. godine počele su intenzivne aktivnosti na centralizaciji ove funkcije, tako da će ovo
odjeljenje preuzeti najveci dio kreditnog portfelja pravnih lica iz cijele mreže.

Domestic payments
During 2005, number of 4.158,694 of incoming transactions was processed through the System of
Domestic Payments of Raiffeisen Bank, 2.409,205 of outgoing, and 1.985.416 transactions within
the network of Raiffeisen bank BiH, which is total number of 8.553.315 transactions.
Very number of transactions with very low percentage of any complaints illustrates efficiency of
Domestic Payments Department in the HO which monitors flow of transactions, financial regularity,
harmonisation with legal regulations, as well as quality of technological solutions for individual
operations of this segment.
This year in Domestic Payments was characterised by very successful implementation of a new product
overdraft under transaction account of legal entity.
This highly sophisticated and highly automated product will show its actual effects and operating
advantages, in comparison to other forms of short term lending of current liquidity of companies in
the following period and it will certainly be very much accepted by most of the customers.
In 2005, Raiffeisen bank was selected as one of the banks with which newly established Indirect
Taxation Authority opened accounts for raising revenues based on indirect taxes. Very significant
step in reform of tax system of the country, as well as preparation for introduction of value added
tax was great challenge for all participants – both for the very Indirect Taxation Authority, and for
all taxpayers and commercial banks.
Owing to the extraordinary engagement of management of Domestic Payments Department, all
elements of this project were duly and successfully implemented in our Bank. Pro-active role of Raiffeisen
Bank should be pointed out in all phases of implementation. Namely, Implementation Team
of Indirect Taxation Authority and CAFAO commonly consulted with the management of our Domestic
Payments Department, since they recognised highly professional and constructive approach of
our employees.
Raiffeisen BANK dd BiH finished the year 2005 as the bank over which the highest amount of taxes
was collected on this basis, and in accordance with that it realised the highest fee for this service.
The end of the year also passed in preparation of infrastructure for services which will accompany
VAT introduction, planned for January 2006.
Corporate Loans and Deposit Administration
Central Processing Division
During 2005, in the Corporate Loans and Deposit Administration, and those under their supervision,
processed and approved 3.681 short term, and 3.592 long term loans to legal entities.
Number of term deposits of legal entities in the network of Raiffeisen Bank in that same period was
395.
This Department also processes (funds withdrawal, repayment, cost settlement, reporting) 74 active
credit lines which Raiffeisen bank utilises as long term sources of funds.
At the end of 2005, intensive activities on centralisation of this function started, so that this Department
will take over the biggest part of loan portfolio of legal entities in the whole network.
www.raiffeisenbank.ba
45

Bilans stanja
Bilans stanja
Na dan 31. decembar 2005. i 2004. godine
AKTIVA
46 www.raiffeisenbank.ba
2005.
( KM 000)
2005.
( 000 EUR)
2004.
( 000 KM )
2004.
( 000 EUR)
Novac i sredstva kod banaka 90,120 46,078 149,011 76,188
Obavezna rezerva kod Centralne
banke 338,183 172,910 182,955 93,543
Plasmani kod drugih banaka 652,329 333,531 582,900 298,032
Dati krediti i potraživanja 1,331,998 681,039 1,057,736 540,812
Kupljeni krediti koji se drže do
dospijeća 47 24 1,136 582
Kapitalna ulaganja 2,484 1,270 4,879 2,494
Ostala imovina 36,222 18,520 26,907 13,757
Nekretnine i oprema 42,090 21,520 34,471 17,625
UKUPNA AKTIVA 2,493,473 1,274,892 2,039,995 1,043,033
OBAVEZE
Obaveze prema drugim bankama 593,475 303,439 435,631 222,735
Obaveze prema klijentima 1,627,021 831,883 1,396,340 713,937
Rezervisanja 18,239 9,325 12,023 6,147
Ostale obaveze 23,294 11,910 20,198 10,327
Subordinirani dug 62,000 31,700 42,050 21,500
UKUPNE OBAVEZE 2,324,029 1,188,257 1,906,242 974,646
VLASNIČKA GLAVNICA
Dionički kapital 89,306 45,661 73,306 37,481
Rezerve i zadržana dobit 80,138 40,974 60,447 30,906
UKUPNA VLASNIČKA GLAVNICA 169,444 86,635 133,753 68,387
UKUPNO OBAVEZE I
VLASNIČKA GLAVNICA 2,493,473 1,274,892 2,039,995 1,043,033
PREUZETE I POTENCIJALNE
FINANSIJSKE OBAVEZE 525,044 268,451 374,932 191,699

Balance Sheet
As of 31. December 2005 and 2004
ASSETS
2005.
( KM 000)
2005.
( 000 EUR)
2004.
( 000 KM )
2004.
( 000 EUR)
Cash and amounts due from banks 90,120 46,078 149,011 76,188
Obligatory reserve with the
Central Bank 338,183 172,910 182,955 93,543
Placements with other banks 652,329 333,531 582,900 298,032
Loans and receivables 1,331,998 681,039 1,057,736 540,812
Purchased loans held to maturity 47 24 1,136 582
Equity investments 2,484 1,270 4,879 2,494
Other assets 36,222 18,520 26,907 13,757
Property and equipment 42,090 21,520 34,471 17,625
TOTAL ASSETS 2,493,473 1,274,892 2,039,995 1,043,033
LIABILITIES
Amounts due to banks 593,475 303,439 435,631 222,735
Amounts due to customers 1,627,021 831,883 1,396,340 713,937
Provisions 18,239 9,325 12,023 6,147
Other liabilities 23,294 11,910 20,198 10,327
Subordinated debt 62,000 31,700 42,050 21,500
TOTAL LIABILITIES 2,324,029 1,188,257 1,906,242 974,646
SHAREHOLDERS’ EQUITY
Share capital 89,306 45,661 73,306 37,481
Reserves and retained earnings 80,138 40,974 60,447 30,906
TOTAL SHAREHOLDER’S EQUITY 169,444 86,635 133,753 68,387
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY 2,493,473 1,274,892 2,039,995 1,043,033
FINANCIAL COMMITMENTS
AND CONTINGENCIES 525,044 268,451 374,932 191,699
www.raiffeisenbank.ba
Balance Sheet
47

Bilans uspjeha
Bilans uspjeha
Za godine koje su završile 31.decembra 2005 i 2004
48 www.raiffeisenbank.ba
2005.
(KM 000)
2005.
(EUR 000)
2004.
(KM 000)
2004.
(EUR 000)
Prihodi od kamata 135,665 69,364 106,504 54,455
Rashodi od kamata (51,608) (26,387) (38,162) (19,512)
Neto prihod od kamata 84,057 42,977 68,342 34,943
Prihodi od naknada i provizija 33,551 17,154 36,400 18,611
Rashodi od naknada i provizija (3,421) (1,749) (5,057) (2,586)
Neto prihod od naknada i provizija 30,130 15,405 31,343 16,025
Neto dobit iz finansijskog poslovanja 5,811 2,971 5,138 2,627
Neto prihod od prodaje ulaganja 3,938 2,012 - -
Ostali prihodi iz poslovanja 643 328 2,360 1,207
Prihod iz redovnog poslovanja 124,579 63,696 107,183 54,802
Administrativni troškovi (75,033) (38,364) (64,468) (32,962)
Amortizacija dugotrajne
materijalne imovine (3,946) (2,017) (3,592) (1,837)
Amortizacija dugotrajne
nematerijalne imovine (1,408) (720) (1,620) (828)
Rashodi iz redovnog poslovanja (80,387) (41,101) (69,680) (35,627)
DOBIT PRIJE REZERVISANJA
I POREZA NA DOBIT 44,192 22,595 37,503 19,175
Umanjenja vrijednosti i rezervisanja (25,890) (13,237) (22,502) (11,505)
Naplaćena otpisana potraživanja 5,927 3,030 6,145 3,142
DOBIT PRIJE POREZA NA DOBIT 24,229 12,388 21,146 10,812
Porez na dobit - - - -
DOBIT TEKUĆE GODINE 24,229 12,388 21,146 10,812

Statements of Income
For the years ended 31 December 2005 and 2004
2005.
(KM 000)
2005.
(EUR 000)
2004.
(KM 000)
Statements of Income
2004.
(EUR 000)
Interest income 135,665 69,364 106,504 54,455
Interest expense (51,608) (26,387) (38,162) (19,512)
Net interest income 84,057 42,977 68,342 34,943
Fee and commission income 33,551 17,154 36,400 18,611
Fee and commission expense (3,421) (1,749) (5,057) (2,586)
Net fee and commission income 30,130 15,405 31,343 16,025
Net trading income 5,811 2,971 5,138 2,627
Net income upon disposal of
investments 3,938 2,012 - -
Other operating income 643 328 2,360 1,207
Operating income 124,579 63,696 107,183 54,802
Administrative expenses (75,033) (38,364) (64,468) (32,962)
Depreciation of tangible
fixed assets (3,946) (2,017) (3,592) (1,837)
Amortisation of intangible
fixed assets (1,408) (720) (1,620) (828)
Operating Expense (80,387) (41,101) (69,680) (35,627)
PROFIT BEFORE IMPAIRMENT LOSSES,
PROVISIONS AND INCOME TAX 44,192 22,595 37,503 19,175
Impairment losses and provisions (25,890) (13,237) (22,502) (11,505)
Collected write-offs 5,927 3,030 6,145 3,142
PROFIT BEFORE INCOME TAX 24.229 12,388 21,146 10,812
Income tax - - - -
NET PROFIT FOR THE YEAR 24,229 12,388 21,146 10,812
www.raiffeisenbank.ba
49

Značajni finansijski pokazatelji
Značajni finansijski pokazatelji
Key Financial Highlights
Prikazani podaci navedeni su ili izračunati temeljem
revidiranih finansijskih izvještaja Banke.
Na kraju godine
At the year end
50 www.raiffeisenbank.ba
The figures shown below are extracted or recomputed
from the Bank’s audited financial statements.
2005
000 KM
2005
000 EUR
2004.
000 KM
2004.
000 EUR
Ukupno aktiva
Total assets 2,493,473 1,274,892 2,039,995 1,043,033
Dionički kapital i rezerve
Shareholders funds 169,444 86,635 133,753 68,387
Godišnji rezultati
Results for the year
Ukupan prihod
Total income 133,927 68,476 118,385 60,529
Dobit prije oporezivanja
Profit before taxation 24,229 12,388 21,146 10,812
Dobit poslije oporezivanja
Profit after taxation 24,229 12,388 21,146 10,812
Pokazatelji
Ratios % %
Povrat na aktivu
Return on Assets (ROA) 1,1 1,2
Povrat na kapital
Return on Equity (ROE) 17,3 21,5

Petogodišnja usporedba finansijskih pokazatelja
Financial highlights for the five years period
2005.
000 KM
2004.
000 KM
2003.
000 KM
2002.
000 KM
Key Financial Highlights
2001.
000 KM
Iz Bilansa stanja i računa
dobiti i gubitka
From the balance sheet and
profit and loss account
Ukupno aktiva
Total assets
Dionički kapital
2,493,473 2,039,995 1,388,063 930,492 744,278
Share capital
Dionički kapital i rezerve
89,306 73,306 49,306 37,622 25,100
Shareholders funds
Depoziti komitenata
169,444 133,753 91,656 59,212 34,683
Customer deposits
Krediti komitentima
1,627,021 1,396,340 1,016,093 796,528 634,628
Loans to customers
Ukupan prihod
1,331,998 1,057,736 803,350 510,178 273,296
Total income
Ukupni troškovi poslovanja
133,927 118,385 102,666 74,923 46,077
Total operating expenses
Dobit / (gubitak) prije oporezivanja
109,698 97,239 82,395 60,079 40,005
Profit / (loss) before taxation
Dobit / (gubitak) poslije oporezivanja
24,229 21,146 20,271 14,844 6,072
Profit / (loss) after taxation 24,229 21,146 20,271 14,844 6,072
www.raiffeisenbank.ba
51

Značajni finansijski pokazatelji
Iz Bilansa stanja i Računa
dobiti i gubitka
From the balance sheet and
profit and loss account
52 www.raiffeisenbank.ba
2005.
000 EUR
2004.
000 EUR
2003.
000 EUR
2002.
000 EUR
2001.
000 EUR
Ukupno aktiva
Total assets 1,274,892 1,043,033 709,703 475,751 380,542
Dionički kapital
Share capital
45,661 37,481 25,210 19,235 12,833
Dionički kapital i rezerve
Shareholders funds 86,635 68,387 46,863 30,274 17,733
Depoziti komitenata
Customer deposits 831,883 713,937 519,518 407,257 324,479
Krediti komitentima
Loans to customers 681,039 540,812 410,745 260,849 139,734
Ukupan prihod
Total income 68,476 60,529 52,492 38,308 23,558
Ukupni troškovi poslovanja
Total operating expenses 56,088 49,717 42,128 30,718 20,453
Dobit / (gubitak) prije
Oporezivanja
Profit / (loss) before taxation
12,388 10,812 10,364 7,590 3,105
Dobit / (gubitak) poslije
Oporezivanja
Profit / (loss) after taxation 12,388 10,812 10,364 7,590 3,105

Ukupna aktiva
Total assets
EUR 000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
380,542
475,751
2005.
000 KM
2004.
000 KM
2003.
000 KM
2002.
000 KM
2001.
000 KM
Ukupno aktiva
Total assets 2,493,473 2,039,995 1,388,063 930,492 744,278
2005.
000 EUR
709,703
2004.
000 EUR
1,043,033
2003.
000 EUR
1,274,892
2001 2002 2003 2004 2005
2002.
000 EUR
Key Financial Highlights
2001.
000 EUR
Ukupno aktiva
Total assets 1,274,892 1,043,033 709,703 475,751 380,542
www.raiffeisenbank.ba
53

Značajni finansijski pokazatelji
Ukupan prihod
Total income
EUR 000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
54 www.raiffeisenbank.ba
0
23,558
38,308
2005.
000 KM
2004.
000 KM
2003.
000 KM
2002.
000 KM
2001.
000 KM
Ukupan prihod
Total income 133,927 118,385 102,666 74,923 46,077
2005.
000 EUR
2004.
000 EUR
2003.
000 EUR
2002.
000 EUR
2001.
000 EUR
Ukupan prihod
Total income 68,476 60,529 52,492 38,308 23,558
52,492
60,529
68,476
2001 2002 2003 2004 2005

Operativni rezultati
Poslovanje Banke posljednih godina karakterizira konstantan
uspon poslovanja. U 2005.godini Banka
je ostvarila pozitivan finansijski rezultat u iznosu od
24.229.000,00 KM, što u odnosu na prethodnu godinu
predstavlja povećanje od 14,5 %.
Troškovi poslovanja u 2005. godini dosegli su iznos od
109.698.000,00 KM, što u poređenju sa prethodnom
godinom predstavlja povećanje od 12,8 % ( u 2004.
godini troškovi poslovanja su, u odnosu na 2003.,
povećani za 18 %) .
Ukupan prihod banke u 2005. godini iznosio je
133.927.000,00 KM, što u odnosu na prihod prethodne
godine predstavlja povećanje od 13 % ( u 2004.
godini ukupni prihod je povećan za 15 % ).
Najveći udio u strukturi ukupnih prihoda u 2005.
godini imaju neto prihodi od kamata 62 %, a najveće
povećanje u odnosu na 2004. godinu bilježe takođe
neto prihodi od kamata 23%.
Operating results
Key Financial Highlights
The characteristic of the Bank business in the last years
is continuous growth in banking operations. In 2005 the
Bank achieved positive financial result in the amount of
KM 24.229.000,00 which in comparison to the previous
year means increase by 14,5 %.
Operating costs in 2005 reached the amount of KM
109.698.000,00 which is in comparison to the previous
year, the increase of 12,8 % (in 2004 operating costs
increased by 18 % in comparison to 2003).
Total bank revenue in 2005 amounted KM
133.927.000,00 which is an increase of 13 % in comparison
to the previous year revenue (in 2004 total
revenue increased by 15 %).
The biggest share in the structure of total income in
2005 take net interest income 62 % and the biggest
increase in comparasion to 2004 have net interest
income 23%.
www.raiffeisenbank.ba
55

Značajni finansijski pokazatelji
Struktura ukupnih prihoda
Structure of total income
EUR 000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
56 www.raiffeisenbank.ba
0
11,045
9,500
3,013
20,801
13,695
3,812
2001 2002 2003 2004 2005
2005
000 KM
2004.
000 KM
2003.
000 KM
2002.
000 KM
2001.
000 KM
Neto prihod od kamata
Net interest income
Prihod od provizija
84,057 68,342 63,147 40,683 21,603
Commission income
Ostali prihodi iz poslovanja
33,551 36,400 30,848 26,785 18,581
Other operating income 16,319 13,643 8,671 7,455 5,893
2005.
000 EUR
2004.
000 EUR
2003.
000 EUR
2002.
000 EUR
2001.
000 EUR
Neto prihod od kamata
Net interest income
Prihod od provizija
42,978 34,943 32,286 20,801 11,045
Commission income
Ostali prihodi iz poslovanja
17,154 18,611 15,772 13,695 9,500
Other operating income 8,344 6,975 4,434 3,812 3,013
32,286
15,772
4,434
34,943
18,611
6,975
42,978
17,154
8,344
Neto prihod od kamata
Net interest income
Prihod od provizija
Commission income
Ostali prihodi iz poslovanja
Other operating income

Usporedba troškova poslovanja i ukupnih prihoda
Comparasion of operating expenses and total income
EUR 000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
23,558
20,453
38,308
30,718
2001 2002 2003 2004 2005
2005.
000 KM
2004.
000 KM
2003.
000 KM
2002.
000 KM
2001.
000 KM
Troškovi poslovanja
Operating expenses 109,698 97,239 82,395 60,079 40,005
Ukupan prihod
Total income 133,927 118,385 102,666 74,923 46,077
2005.
000 EUR
2004.
000 EUR
2003.
000 EUR
2002.
000 EUR
2001.
000 EUR
Troškovi poslovanja
Operating expenses 56,088 49,717 42,128 30,718 20,453
Ukupan prihod
Total income 68,476 60,529 52,492 38,308 23,558
52,492
42,128
60,529
49,717
68,476
56,088
Ukupan prihod
Total income
Troškovi poslovanja
Operating expenses
Key Financial Highlights
www.raiffeisenbank.ba
57

Značajni finansijski pokazatelji
Ukupna Aktiva
Total Assets
U toku 2005. godine ukupna aktiva Banke uvećana je
za 22 % u odnosu na prethodnu godinu.
Kao što se može primjetiti u donjem grafičkom prikazu,
krediti komitentima preovladavaju u strukturi aktive
Banke, sa udjelom od 53 % ukupne aktive.
Struktura ukupne aktive banke
Structure of total assets
58 www.raiffeisenbank.ba
Materijalna i nematerijalna imovina (2%)
Tangible and intangible fixed assets (2%)
Gotovina i računi kod banaka (4%)
Cash and due from banks (4%)
Plasmani drugim bankama (26%)
Placements with other banks (26%)
The total assets are increased by 22 % in 2005 in relation
to the previous year.
As it can be seen from chart below, loans to client are
predominant in the assets structure with 53 % out of
total assets.
Ostala aktiva (15%)
Other assets (15%)
Krediti, neto, umanjeni za rezervisanja za moguće gubitke po kreditima (53%)
Loans, net of provision for possible loan losses (53%)

Izvori finansiranja
Funds sources
U strukturi izvora finansiranja najvećim dijelom učestvuju
fizička lica 36 %, te je u odnosu na prošlu godinu
zabilježen rast depozita fizičkih lica od 22 %.
Ostalo (4%)
Other (4%) Kapital (7%)
Equity (7%)
Fizička lica (36%)
Retail (36%)
In the structure of sources of funds the biggest participants
are individuals 36 % and in comparison to the
previous year the growth of individual deposits of 22 %
is registered.
Pravna lica (29%)
Corporate (29%)
Druge ino banke (22%)
Other international banks (22%)
Lokalne banke (2%)
Domestic banks (2%)
Key Financial Highlights
www.raiffeisenbank.ba
59

Značajni finansijski pokazatelji
Kreditiranje
Credit financing
Kreditiranje preduzeća
Kreditni portfolio krajem 2005. godine iznosi KM 460
miliona i povećan je za 24% u odnosu na kraj prethodne
godine. Ročna struktura kreditnog portfolija promijenjena
je u odnosu na prethodnu godinu u korist dugoročnih
kredita, čije je učešće u ukupnom kreditnom portfoliju na
kraju 2005. godine iznosilo 56%.
Kreditiranje stanovništva
Značajan doprinos ostvarenju planskih kategorija je i
u 2005. godini imala specijalna ponuda za uposlenike
firmi od poslovnog značaja za Banku.
Ponuda kreditnih proizvoda je proširena kreditima za
farmere, studente, za kupovinu apartmana, a kod auto
kredita je lansiran kredit “Staro za novo”.
Pored navedenog, Banka je aktivnije nego u prethodnim
godinama uzela učešće na tenderima državnih
organa, što je imalo pozitivne efekte u vidu novih
kreditnih plasmana.
Kao ilustracija ostvarenog obima poslova kreditiranja
stanovništva može poslužiti podatak da je u 2005.
godini plasirano 67.736 kredita, što je za 25% više u
poređenju sa 2004. godinom.
U odnosu na 2004. godinu kreditni portfelj je zabilježio
rast od 25,44%, odnosno prosječna mjesečna stopa
rasta je iznosila 2,1%.
Kao rezultat navedenih aktivnosti u segmentu kreditiranja
stanovništva, kreditni portfelj Banke je dostigao
21,4% svih kredita datih fizičkim lica u komercijalnim
bankama u BiH.
60 www.raiffeisenbank.ba
Credits to companies
At the end of 2005, loan portfolio was KM 460 million
and the same was increased by 24% in comparison
to the end of the previous year. Maturity structure of
loan portfolio was changed in comparison to the previous
year in favour of long term loans, whose share
in total loan portfolio at the end of 2005 was 56%.
Retail lending
Significant contribution to fulfilment of budgeted categories
in reporting year has also been made through
special offer for employees of companies of business
importance for the Bank.
Offer of loan products was extended with loans for
farmers, students, purchase of condominiums, and with
car loans the “Trade-in” loan was introduced.
Besides the above, the Bank participated in invitation for
bids of state authorities more intensively than in previous
years, which had positive effects in form of new loan
facilities.
As an illustration of achieved volume of retail lending,
67.736 loans were granted during previous year, which
is 25% higher compared to 2004.
Compared to 2004, loan portfolio rose by 25,44%, i.e.
average monthly growth rate was 2,1%. As a result of
above-mentioned activities in retail lending segment,
loan portfolio of the Bank reached 21,4% of all loans
granted to private individuals in commercial banks in
B&H.

Krediti preduzećima
Loans to companies
Krediti stanovništvu
Loans to Individuals
Ukupno
Total
Rezerviranja za moguće
gubitke po kreditima
Provision for Possible
Loan Losses
Neto vrijednost kredita
Net Value of Loans
Bruto vrijednost kredita
Gross Value of Loans
2005
Bruto vrijednost kredita
Gross Value of Loans
2004
Key Financial Highlights
Promjena
Change
000 KM 000 EUR 000 KM 000 EUR %
640,704 327,587 504,691 258,044 27
755,064 386,058 603,893 308,765 25
1,395,768 713,645 1,108,584 566,810 26
63,770 32,605 50,848 25,998
1,331,998 681,040 1,057,736 540,812 26
www.raiffeisenbank.ba
61

Značajni finansijski pokazatelji
Obaveze i kapital
Liabilities and funds employed
Tuđa sredstva
Other sources of Funds
62 www.raiffeisenbank.ba
Obaveze po kreditima (24%)
Borrowings (24%)
Oročeni depoziti (34%)
Term deposits (34%)
Vlastiti izvori (7%)
Shareholders Equity (7%)
Ostale obaveze (6%)
Other liabilities (6%)
Depoziti po viđenju (36%)
Demand deposits (36%)
Tuđa sredstva (93%)
Other sources of funds (93%)

Depoziti komitenata
Customer deposits
EUR 000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
205,991
201,266
2005.
000 KM
2005.
000 EUR
296,530
222,988
2004.
000 KM
2004.
000 EUR
376,342
337,595
2003.
000 KM
458,405
2002 2003 2004 2005
2003.
000 EUR
373,478
Depoziti stanovništva
Deposits from individuals
Depoziti preduzeća
Deposits from companies
2002.
000 KM
Key Financial Highlights
2002.
000 EUR
Depoziti preduzeća
Deposits from companies
Depoziti stanovništva
730,459 373,478 660,279 337,595 436,128 222,988 393,644 201,266
Deposits from individuals 896,562 458,405 736,061 376,342 579,965 296,530 402,884 205,991
www.raiffeisenbank.ba
63

Značajni finansijski pokazatelji
Depoziti preduzeća
Deposits from companies
EUR 000
250,000
200,000
150,000
100,000
50,000
64 www.raiffeisenbank.ba
0
162,477
38,789
2005.
000 KM
2005.
000 EUR
168,627
54,361
2004.
000 KM
2004.
000 EUR
196,003
141,592
2002 2003 2004 2005
2003.
000 KM
239,078
134,400
Depoziti po viđenju
Demand deposits
Oročeni depoziti
Term deposits
2003.
000 EUR
2002.
000 KM
2002.
000 EUR
Oročeni depoziti
Term deposits
Depoziti po viđenju
262,863 134,400 276,930 141,592 106,322 54,361 75,866 38,789
Demand deposits 467,596 239,078 383,349 196,003 329,806 168,627 317,778 162,477

Depoziti stanovništva
Deposits from individuals
EUR 000
250,000
200,000
150,000
100,000
50,000
0
114,508
91,483
265,538
192,866
2002 2003 2004 2005
2005.
000 KM
2005.
000 EUR
165,989
130,541
2004.
000 KM
2004.
000 EUR
207,161
169,181
2003.
000 KM
Oročeni depoziti
Term deposits
Depoziti po viđenju
Demand deposits
2003.
000 EUR
2002.
000 KM
Key Financial Highlights
2002.
000 EUR
Oročeni depoziti
Term deposits 519,348 265,538 405,171 207,161 324,648 165,989 223,959 114,508
Depoziti po viđenju
Demand deposits 377,214 192,866 330,890 169,181 255,317 130,541 178,925 91,483
www.raiffeisenbank.ba
65

66 www.raiffeisenbank.ba

www.raiffeisenbank.ba
67

68 www.raiffeisenbank.ba

www.raiffeisenbank.ba
69

Adresar
Centrala i filijale
Head Office and Branches
70 www.raiffeisenbank.ba
Centrala Sarajevo
Head Office
Danijela Ozme 3
Tel: + 387 33 28 71 00, 28 71 21
Fax: + 387 33 21 38 51
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
Prnjavor
Trg Srpskih boraca bb
78 430 Prnjavor
Doboj
Nemanjina bb
74 000 Doboj
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
Trg oslobodilaca 2
79 260 Sanski Most
Velika Kladuša
Izeta Nanića 1
77 230 Velika Kladuša
Bosanska Krupa
Trg oslobođenja bb
77 240 Bosanska Krupa
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
Alije Izetbegovića 1
71 300 Visoko
Tešanj
Kralja Tvrtka bb
74 260 Tešanj
Brčko
Bulevar mira bb
76 100 Brčko

Adresar
Addresses and contacts
Raiffeisen International
Bank-Holding AG
Austria (Head Office)
Am Stadtpark 9, 1030 Wien
Phone: (+43-1) 71 707-3504
Fax: (+43-1) 71 707-1377
www.ri.co.at
Contact: Roman Hager
roman.hager@ri.co.at
Banking Network in Central
and Eastern Europe
Albania
Raiffeisen Bank Sh.a.
Rruga Kavajes, Tirana
Phone: (+355-4) 274 912
Fax: (+355-4) 230 013
SWIFT/BIC: SGSBALTX
www.raiffeisen.al
Contact: Steven Grunerud
steven.grunerud@raiffeisen.al
87 banking outlets
Belarus
Priorbank, JSC
31–A, V. Khoruzhey Str.
Minsk, 220002
Phone: (+375-17) 289 9087
Fax: (+375-17) 289 9191
SWIFT/BIC: PJCBBY2X
www.priorbank.by
Contact: Olga Gelakhova
olga.gelakhova@priorbank.by
43 banking outlets
Bosnia and Herzegovina
Raiffeisen Bank d.d.
Bosna i Hercegovina
Danijela Ozme 3, 71000 Sarajevo
Phone: (+387-33) 287 100
Fax: (+387-33) 213 851
SWIFT/BIC: RZBABA2S
www.raiffeisenbank.ba
Contact: Edin Muftić
edin.muftic@rbb-sarajevo.raiffeisen.at
68 banking outlets
Bulgaria
Raiffeisenbank (Bulgaria) E.A.D.
18/20 Gogol Ulica, 1504 Sofia
Phone: (+359-2) 9198 5101
Fax: (+359-2) 943 4528
SWIFT/BIC: RZBBBGSF
www.rbb.bg
Contact: Momtchil
Andreev
momtchil.andreev@rbb-sofia.raiffeisen.at
74 banking outlets
Croatia
Raiffeisenbank Austria d.d.
Petrinjska 59, 10000 Zagreb
Phone: (+385-1) 456 6466
Fax: (+385-1) 481 1624
SWIFT/BIC: RZBHHR2X
www.rba.hr
Contact: Lovorka Penavić
lovorka.penavic@rba-zagreb.raiffeisen.at
39 banking outlets
Czech Republic
Raiffeisenbank a.s.
Olbrachtova 2006/9
140 21 Praha 4
Phone: (+420) 221 141 111
Fax: (+420)221 142 111
SWIFT/BIC: RZBCCZPP
www.rb.cz
Contact: Lubor Žalman
lubor.zalman@rb.cz
www.raiffeisenbank.ba
Addresses
71

Adresar
72 www.raiffeisenbank.ba
50 banking outlets
Hungary
Raiffeisen Bank Zrt.
Akadémia útca 6, 1054 Budapest
Phone: (+36-1) 484 4400
Fax: (+36-1) 484 4444
SWIFT/BIC: UBRTHUHB
www.raiffeisen.hu
Contact: Eva Felegyhazi
eva.felegyhazi@raiffeisen.hu
99 banking outlets
Kosovo
Raiffeisen Bank Kosovo J.S.C.
Rruga UÇK 51, Priština
Phone: (+381-38) 226 400
Fax: (+381-38) 244 193
SWIFT/BIC: RBKOCS22
www.raiffeisen-kosovo.com
Contact: Oliver Whittle
oliver.whittle@raiffeisen-kosovo.com
29 banking outlets
Malta
Raiffeisen Malta Bank plc
71, II-Piazzetta, Tower Road
Sliema SLM 16, Malta
Phone: (+356) 2132 0942
Fax: (+356) 2132 0954
Contact: Anthony C. Schembri
anthony.schembri@rmb-malta.raiffeisen.at
Poland
Raiffeisen Bank Polska S.A.
Ul. Piêkna 20, 00-549 Warszawa
Phone: (+48-22) 585 2000
Fax: (+48-22) 585 2585
SWIFT/BIC: RCBWPLPW
www.raiffeisen.pl
Contact: Piotr Czarnecki
piotr.czarnecki@raiffeisen.pl
83 banking outlets
Romania
Raiffeisen Bank S.A.
Piaţa Charles de Gaulle 15
011857 Bucureşti 3
Phone: (+40-21) 306 1000
Fax: (+40-21) 230 0700
SWIFT/BIC: RZBRROBU
www.raiffeisen.ro
Contact: Steven C. van Groningen
centrala@raiffeisen.ro
216 banking outlets
Russia
ZAO Raiffeisenbank Austria
Troitskaya Ul. 17/1
129090 Moskwa
Phone: (+7-495) 721 9900
Fax: (+7-495) 721 9901
SWIFT/BIC: RZBMRUMM
www.raiffeisen.ru
Contact: Johann Jonach
jjonach@raiffeisen.ru
27 banking outlets
Serbia and Montenegro
Raiffeisenbank a.d.
Bulevar AVNOJ-a 64a
11070 Novi Beograd
Phone: (+381-11) 320 2100
Fax: (+381-11) 220 7080
SWIFT/BIC: RZBJCSBG
www.raiffeisenbank.co.yu
Contact: Oliver Rögl
oliver.roegl@raiffeisenbank.co.yu
45 banking outlets

Slovakia
Tatra banka, a.s.
Hodžovo námestie 3
811 06 Bratislava 1
Phone: (+421-2) 5919 1111
Fax: (+421-2) 5919 1110
SWIFT/BIC: TATRSKBX
www.tatrabanka.sk
Contact: Rainer Franz
rainer_franz@tatrabanka.sk
136 banking outlets
Slovenia
Raiffeisen Krekova banka d.d.
18 Slomškov trg, 2000 Maribor
Phone: (+386-2) 229 3100
Fax: (+386-2) 252 4779
SWIFT/BIC: KREKSI22
www.r-kb.si
Contact: Zoran Nemec
zoran.nemec@r-kb.si
13 banking outlets
Ukraine
JSCB Raiffeisenbank Ukraine
43, Zhylyanska vul., 01033 Kyiv
Phone: (+38 044) 490 05 00
Fax: (+38 044) 490 05 01
SWIFT/BIC: RZBUUAUK
www.rbua.com
Contact: Leonid Zyabrev
leonid.zyabrev@rbu-kiev.raiffeisen.at
39 banking outlets
JSPP Bank Aval
9, Leskova vul., 01011 Kyiv
Phone: (+38 044) 490 88 88
Fax: (+38 044) 295 32 31
SWIFT/BIC: AVAL UA UK
www.aval.ua
Contact: Leonid Zyabrev
leonid.zyabrev@rbu-kiev.raiffeisen.at
1,342 banking outlets
Raiffeisen-Leasing
International
Austria
Raiffeisen-Leasing International GmbH
Am Stadtpark 9, 1030 Wien
Phone: (+43-1) 71 707-2966
Fax: (+43-1) 71 707-2059
Contact: Dieter Scheidl
dieter.scheidl@rzb.at
Belarus
SOOO Raiffeisen Leasing
31A, V. Khoruzhey Str.
220002 Minsk
Phone: (+375-17) 289 9394
Fax: (+375-17) 289 9394
Contact: Maksim Litisky
marksim.litisky@priorbank.by
Bosnia and Herzegovina
Raiffeisen Leasing d.o.o.
St. Branilaca Sarajeva 20
71000 Sarajevo
Phone: (+387-33) 254 340
Fax: (+387-33) 212 273
Contact: Belma Sekavic-Bandic
info.leasing@rbb-sarajevo.raiffeisen.at
5 branches
Bulgaria
Raiffeisen Leasing Bulgaria OOD
Business Park Sofia
Building 11, 2nd floor, 1715 Sofia
Phone: (+359-2) 970 7979
Fax: (+359-2) 974 2057
www.raiffeisenbank.ba
Addresses
73

Adresar
74 www.raiffeisenbank.ba
Contact: Ekaterina Hristova
ekaterina.hristova@rbb-sofia.raiffeisen.at
10 branches
Croatia
Raiffeisen Leasing d.o.o.
Froudeova 11a, Siget
10 002 Zagreb
Phone: (+385-1) 659 5000
Fax: (+385-1) 659 5050
Contact: Miljenko Tumpa
miljenko.tumpa@rba-zagreb.raiffeisen.at
11 branches
Czech Republic
Raiffeisen-Leasing, s.r.o.
Olbrachtova 2006/9
14021 Praha 4
Phone: (+420-2) 215 11 611
Fax: (+420-2) 215 11 666
Contact: Richard Dvořák
dvorak@raiffleas.cz
11 branches
Hungary
Raiffeisen Lízing Rt.
Váci utca 81-85, 1139 Budapest
Phone: (+36-1) 298 8200
Fax: (+36-1) 298 8010
Contact: Pál Antall
pal.antall@raiffeisen.hu
14 branches
Kazakhstan
Raiffeisen Leasing Kazakhstan LLP
Ul. Shevchenko 146, office 12
1st floor, Almaty
Phone: (+7-3272) 709 836
Contact: Uwe Fisker
Uwe_fisker@rlk.kz
Poland
Raiffeisen-Leasing Polska S.A.
Ul. Jana Pawła II 78
00175 Warszawa
Phone: (+48-22) 562 3600
Fax: (+48-22) 562 3601
Contact: Marek Balawejder
marek.balawejder@raiffeisen.pl
52 branches
Romania
Raiffeisen Leasing SRL
Calea 13 Septembrie 90
Grand Offices Marriott Grand Hotel
Sector 5, 76122 Bucureşti
Phone: (+40-21) 403 3300
Fax: (+40-21) 403 3298
Contact: Bernd Künzel
bernd.kuenzel@raiffeisen-leasing.ro
17 branches
Russia
OOO Raiffeisen Leasing
Nikoloyamskaya 13/2
109240 Moskwa
Phone: (+7-495) 721 9901
Fax: (+7-495) 721 9901
Contact: Jaroslaw Konczewski
jkonczewski@raiffeisen.ru
4 branches
Serbia and Montenegro
Raiffeisen Leasing d.o.o.
Bulevar AVNOJ-a 45a
11070 Beograd
Phone: (+381-11) 301 6580
Fax: (+381-11) 313 0081
Contact: Ralph Zeitlberger

alph.zeitlberger@rba-belgrade.raiffeisen.at
5 branches
Slovakia
Tatra Leasing s.r.o.
Tovarenska 10, 820 04 Bratislava
Tel.: (+421-2) 591 93 050
Fax: (+421-2) 591 93 048
Contact: Igor Horvath
igor_horvath@tatrabanka.sk
8 branches
Slovenia
Raiffeisen Leasing d.o.o.
Tivolska 30 (Center Tivoli)
1000 Ljubljana
Phone: (+386-1) 241 6250
Fax: (+386-1) 241 6268
Contact: Borut Bozic
borut.bozic@raiffeisen-leasing.si
2 branches
Real-estate leasing companies
Czech Republic
Raiffeisen Leasing Real Estate s.r.o.
Olbrachtova 2006/9
140 21 Praha
Phone: (+420-2) 215 11 610
Fax: (+420-2) 215 11 641
Contact: Alois Lanegger
lanegger@raiffleas.cz
3 branches
Hungary
Raiffeisen Inglatan Rt.
Akadémia u. 6, 1054 Budapest
Phone: (+36-1) 484 8400
Fax: (+36-1) 484 8404
Contact: Laszlo Vancsko
lvancsko@raiffeisen.hu
Raiffeisen Zentralbank
Österreich AG
Austria (Head Office)
Am Stadtpark 9, 1030 Wien
Phone: (+43-1) 71 707-0
Fax: (+43-1) 71 707-1715
SWIFT/BIC: RZBAATWW
www.rzb.at
China
Beijing Branch
Beijing International Club,
Suite 200
21, Jianguomenwai Dajie
100020 Beijing
Phone: (+86-10) 6532 3388
Fax: (+86-10) 6532 5926
SWIFT/BIC: RZBACNBJ
Contact: Andreas Werner
andreas.werner@cn.rzb.at
Singapore
Singapore Branch
50, Raffles Place #45-01
Singapore Land Tower
Singapore 048623
Phone: (+65) 6225 9578
Fax: (+65) 6225 3973
Contact: Rainer Silhavy
rainer.silhavy@sg.rzb.at
United Kingdom
London Branch
10, King William Street
London EC4N 7TW
Phone: (+44-20) 7933 8000
Fax: (+44-20) 7933 8099
SWIFT/BIC: RZBAGB2L
www.raiffeisenbank.ba
Addresses
75

Adresar
76 www.raiffeisenbank.ba
www.london.rzb.at
Contact: Ian Burns
ian.burns@uk.rzb.at
U.S.A.
RZB Finance LLC
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
Representative offices in
Europe
Belgium
Brussels
Rue du Commerce 20–22
1000 Bruxelles
Phone: (+32-2) 549 0678
Fax: (+32-2) 502 6407
Contact: Helga Steinberger
raiffbxl@raiffeisenbrussels.be
France
Paris
9–11, Avenue Franklin Roosevelt
75008 Paris
Phone: (+33-1) 4561 2700
Fax: (+33-1) 4561 1606
Contact: David Mollerat
david.mollerat@fr.rzb.at
Germany
Frankfurt am Main
Mainzer Landstrasse 51
D-60329 Frankfurt am Main
Phone: (+49-69) 29 92 19-18
Fax: (+49-69) 29 92 19-22
Contact: Dorothea Renninger
dorothea.renninger@rzb.at
Italy
Milan
Via Andrea Costa 2
20131 Milano
Phone: (+39-02) 2804 0646
Fax: (+39-02) 2804 0658
www.rzb.it
Contact: Maurizio Uggeri
maurizio.uggeri@it.rzb.at
Lithuania
Vilnius (Raiffeisen Bank Polska S.A.)
A. Jaksto Street 12, 01105 Vilnius
Phone: (+370-5) 266 6600
Fax: (+370-5) 266 6601
www.raiffeisen.lt
Contact: Vladislovas Jancis
vladislovas.jancis@raiffeisen.pl
Moldova
Chisinau (Raiffeisen Bank S.A.)
65 Stefan cel Mare blvd., MD-2001, Chişinãu
Phone: (+373-22) 279 331
Fax: (+373-22) 279 343
Contact: Victor Bodiu
victor.bodiu@rzb.md
Russia
Moscow
14, Pretchistensky Pereulok
Building 1, 119034 Moskwa
Phone: (+7-495) 721 9903
Fax: (+7-495) 721 9907
www.raiffeisen.ru
Contact: Evgheny Rabovsky
erabovsky@raiffeisen.ru
Sweden
Stockholm
Stureplan 4C
11435 Stockholm

Phone: (+43-1) 71 707-1588
Fax: (+43-1) 71 707-76 1588
Contact: Daniela Vorbeck
daniela.vorbeck@rzb.at
Representative offices in
America and Asia
U.S.A.
Chicago (RZB Finance LLC)
10 N. Martingale Road, Suite 400
Schaumburg, IL 60173
Phone: (+1-847) 466 1043
Fax: (+1-847) 466 1295
Contact: Charles T. Hiatt
chiatt@rzbfinance.com
Houston (RZB Finance LLC)
10777, Westheimer, Suite 1100
Houston, TX 77042
Phone: (+1-713) 260 9697
Fax: (+1-713) 260 9602
Contact: Stephen A. Plauche
splauche@rzbfinance.com
New York
1133, Avenue of the Americas
16th floor, New York, NY 10036
Phone: (+1-212) 593 7593
Fax: (+1-212) 593 9870
Contact: Dieter Beintrexler
dieter.beintrexler@rzb-newyork.raiffeisen.at
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@hk.rzb.at
Zhuhai
Hangao Building 2003
Fenghuang South Street 1030
Xiangzhou District, Zhuhai
Guangdong Province
519000 China
Phone: (+86-756) 2213 075
Fax: (+86-756) 2213 165
Contact: Susanne Zhang-Pongratz
susanne.zhang@cn.rzb.at
India
Mumbai
87, Maker Chamber VI
Nariman Point, Mumbai 400 021
Phone: (+91-22) 5630 1700
Fax: (+91-22) 5632 1982
Contact: Anupam Johri
anupam.johri@in.rzb.at
Iran
Tehran
Vanak, North Shirazi Avenue
16, Ladan Str., 19917 Tehran
Phone: (+98-21) 804 6767-2
Fax: (+98-21) 803 6788
Ansprechpartner: Gerd Wolf
unico@sayareh.com
South Korea
Seoul
Leema Building, 8th floor
146-1, Soosong-dong
Chongro-ku, 110-755 Seoul
Phone: (+822) 398 5840
Fax: (+822) 398 5807
Contact: Kun II Chung
kun-il.chung@kr.rzb.at
Vietnam
Ho Chi Minh City
6, Phung Khac Khoan Str., District 1
Room G6, Ho Chi Minh City
Phone: (+84-8) 8297 934
www.raiffeisenbank.ba
Addresses
77

Adresar
78 www.raiffeisenbank.ba
Fax: (+84-8) 8221 318
Contact: Ta Thi Kim Thanh
ta-thi-kim.thanh@vn.rzb.at
Investment Banking
Austria
Raiffeisen Zentralbank Österreich AG
Fixed Income
Am Stadtpark 9, 1030 Wien
Phone: (+43-1) 71 707-3347
Fax: (+43-1) 71 707-1091
www.rzb.at
Contact: Christian Säckl
christian.saeckl@rzb.at
Raiffeisen Centrobank AG
Equity
Tegetthoffstr. 1, 1015 Wien
SWIFT/BIC: CENBATWW
Phone: (+43-1) 51 520-0
Fax: (+43-1) 513 4396
www.rcb.at
Contact: Eva Marchart
marchart@rcb.at
Raiffeisen Investment AG
Advisory
Tegetthoffstr. 1, 1015 Wien
Phone: (+43-1) 710 5400-0
Fax: (+43-1) 710 5400-39
www.riag.at
Contact: Heinz Sernetz
h.sernetz@riag.at
Subsidiaries und representative offices in
Belgrade, Bucharest,
Istanbul, Kiev, Moscow, Podgorica,
Sofia and Warsaw.
Bosnia and Herzegovina
Raiffeisen Bank d.d.
Bosna i Hercegovina
Danijela Ozme 3, 71000 Sarajevo
Phone: (+387-33) 287 100
Fax: +387-33-213 851
www.raiffeisenbank.ba
Contact: Dragomir Grgic
dragomir.grgic@rbb-sarajevo.raiffeisen.at
Bulgaria
Raiffeisenbank (Bulgaria) E.A.D.
18/20 Gogol str., 1504 Sofia
Phone: (+359-2) 9198 5451
Fax: (+359-2) 943 4528
www.rbb.bg
Contact: Evelina Miltenova
evelina.miltenova@rbb-sofia.raiffeisen.at
Croatia
Raiffeisenbank Austria d.d.
Petrinjska 59, 10000 Zagreb
Phone: (+385-1) 456 6466
Fax: (+385-1) 456 6490
www.rba.hr
Contact: Ivan Žižić
ivan.zizic@rba-zagreb.raiffeisen.at
Czech Republic
Raiffeisenbank a.s.
Olbrachtova 2006/9
140 21 Praha 4
Phone: (+420) 221 141 863
Fax: (+420) 221 143 804
www.rb.cz
Contact: Martin Bláha
martin.blaha@rb.cz
Hungary
Raiffeisen Bank Rt.
Akadémia útca 6, 1054 Budapest
Phone: (+36-1) 484 4400
Fax: (+36-1) 484 4444
www.raiffeisen.hu
Contact: Gábor Liener
gliener@raiffeisen.hu

Poland
Raiffeisen Investment Polska
Sp.z o.o.
Ul. Piêkna 20, 00-549 Warszawa
Phone: (+48-22) 585 2900
Fax: (+48-22) 585 2901
www.riag.at
Contact: Marzena Bielecka
marzena.bielecka@ripolska.com.pl
Romania
Raiffeisen Capital & Investment S.A.
Unirii Blvd. 74
030837 Bucureşti 3
Phone: (+40-21) 302 0082
Fax: (+40-21) 320 9983
www.raiffeisen.ro
Contact: James Stewart
james.stewart@rzb.ro
Russia
ZAO Raiffeisenbank Austria
Troitskaya Ul. 17/1
129090 Moskwa
Phone: (+7-495) 721 9900
Fax: (+7-495) 721 9901
www.raiffeisen.ru
Contact: Pavel Gourine
pgourine@raiffeisen.ru
Serbia and Montenegro
Raiffeisen Investment AG
Obilićev venac 27/II
11000 Beograd
Phone: (+381-11) 328 1638
Fax: (+381-11) 262 3542
Contact: Tatjana Terzic
riag@eunet.yu
Slovakia
Tatra banka, a.s.
Hodžovo námestie 3
811 06 Bratislava 1
Tel.: (+421-2) 5919 1111
Fax: (+421-2) 5919 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) 229 3111
Fax: (+386-2) 252 5518
www.r-kb.si
Contact: Gvido Jemenšek
gvido.jemensek@r-kb.si
Ukraine
Raiffeisen Investment TOV
43, Zhylyanska Str., 01033 Kyiv
Phone: (+38-044) 490 6898
Fax: (+38-044) 490 6899
Contact: Vyacheslav Yakymuk
vyacheslav.yakymuk@rio-kiev.raiffeisen.at
www.raiffeisenbank.ba
Addresses
79

80 www.raiffeisenbank.ba

www.raiffeisenbank.ba
81

Finansijski izvještaji
Odgovornost za finansijske izvještaje
U skladu sa Zakonom o računovodstvu reviziji Federacije Bosne i Hercegovine (“Službene novine Federacije Bosne
i Hercegovine”, broj 32/05), 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.
Nakon provedbe ispitivanja, Uprava opravdano očekuje da će Banka u dogledno vrijeme raspolagati
odgovarajućim resursima, te stoga pri sastavljanju finansijskih izvještaja i dalje usvaja načelo vremenske
neograničenosti poslovanja.
Odgovornosti Uprave pri izradi finansijskih izvještaja obuhvaćaju sljedeće:
- odabir i dosljednu primjenu odgovarajućih računovodstvenih politika
- davanje opravdanih i razboritih prosudbi i procjena
- postupanje u skladu s važećim računovodstvenim standardima, uz objavljivanje i obrazloženje svih materijalno
značajnih odstupanja u finansijskim izvještajima te
- sastavljanje finansijskih izvještaja pod pretpostavkom vremenske neograničenosti poslovanja, osim ako pretpostavka
da će Banka nastaviti poslovati nije primjerena.
Uprava je odgovorna za vođenje odgovarajućih računovodstvenih evidencija, koje u svakom trenutku s opravdanom
točnošću prikazuju finansijski položaj Banke. Također, Uprava je dužna pobrinuti se da finansijska izvještaji
budu u skladu sa Zakonom o računovodstvu. Pored toga, Uprava je odgovorna za čuvanje imovine Banke te za
poduzimanje opravdanih koraka za sprječavanje i otkrivanje prijevare i drugih nepravilnosti.
82 www.raiffeisenbank.ba
Potpisao za i u ime Uprave
Edin Muftić
Raiffeisen BANK d.d. Bosna i Hercegovina
Danijela Ozme 3
71 000 Sarajevo
Bosna i Hercegovina
20. Januar 2006.

Responsibility for Financial Reports
Pursuant to the Law on Accounting and Audit of Federation of Bosnia and Herzegovina (Official Gazzette No.
32/05), 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.
After making enquiries, the Management Board has a reasonable expectation that the Bank has adequate resources
to continue in operational existence for the foreseeable future. For this reason, the Management Board continues
to adopt the going concern basis in preparing the financial statements.
In preparing those financial statements, the responsibilities of the Management 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 will continue in business.
The Management 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 Bosnia and Herzegovina Accounting Law (90/92). The Management 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 Management Board
Edin Muftić
Raiffeisen BANK d.d. Bosna i Hercegovina
Danijela Ozme 3
71000 Sarajevo
Bosnia and Herzegovina
20 January 2006
Financial statement
www.raiffeisenbank.ba
83

Finansijski izvještaji
NEZAVISNO REVIZORSKO MIŠLJENJE
Dioničarima Raiffeisen bank d.d. Bosna i Hercegovina
Obavili smo reviziju priloženih nekonsolidovanih bilansa stanja Raiffeisen Bank d.d. Bosna i Hercegovina (u daljnjem
tekstu: “Banka”) na dan 31. decembra 2005. i 2004. godine te povezanih nekonsolidovanih bilansa uspjeha,
izvještaja o promjenama vlasničke glavnice i izvještaja o novčanim tokovima za godine koje su tada završile.
Odgovornost za ove finansijske izvještaje snosi Uprava Banke. Naša odgovornost je izraziti mišljenje o 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 kojim ćemo steći razumno uvjerenje da finansijski izvještaji ne sadrže materijalno
značajne pogreške. Revizija uključuje i ispitivanje testiranjem podataka iz evidencija na temelju kojih su
objavljeni iznosi i drugi podaci u finansijskim izvještajima. Revizija također uključuje i ocjenjivanje primijenjenih
računovodstvenih načela i značajnih procjena uprave, kao i ocjenjivanje prikaza finansijskih izvještaja u cjelini.
Uvjereni smo da nam revizija koju smo obavili pruža razumnu osnovu za naše mišljenje.
Po našem mišljenju, priloženi finansijski izvještaji prikazuju realno i objektivno, u svim značajnim odrednicama,
nekonsolidovani finansijski položaj Raiffeisen Bank d.d. Bosna i Hercegovina na dan 31. decembra 2005. i 2004.
godine, kao i nekonsolidovane rezultate njezinog poslovanja, novčane tokove i promjene vlasničke glavnice za
godine koje su tada završile u skladu sa Međunarodnim standardima finansijskog izvještavanja.
84 www.raiffeisenbank.ba
Deloitte d.o.o.
20. januar 2006. godine

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’) for the years ended 31 December 2005 and 2004 and the related unconsolidated statements of
income, changes in shareholders’ equity and cash flows for the years then ended. These financial statements are
the responsibility of the Bank’s management. Our responsibility is to express an opinion on these 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 our audits to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements. An audit also includes assessing the accounting principles used and the significant
estimates made by management as well as evaluating the overall presentation of the financial statements. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion the financial statements present fairly, in all material respects, the unconsolidated financial position
of Raiffeisen Bank d.d. Bosna i Hercegovina as of 31 December 2005 and 2004, and the unconsolidated results of
its operations, cash flows, and changes in shareholders’ equity for the years then ended in accordance with International
Financial Reporting Standards.
Deloitte d.o.o.
20 January 2006
Financial statement
www.raiffeisenbank.ba
85

Finansijski izvještaji
Bilansi uspjeha
Za godine koje su završile 31. decembra 2005. i 2004.
(Svi iznosi izraženi su u hiljadama KM)
86 www.raiffeisenbank.ba
Napomena 2005. 2004.
Prihodi od kamata 3 135,665 106,504
Rashodi od kamata 4 (51,608) (38,162)
Neto prihod od kamata 84,057 68,342
Prihodi od naknada i provizija 5 33,551 36,400
Rashodi od naknada i provizija 6 (3,421) (5,057)
Neto prihod od naknada i provizija 30,130 31,343
Neto dobit iz finansijskog poslovanja 7 5,811 5,138
Neto prihod od prodaje ulaganja 9 3,938 -
Ostali prihodi iz poslovanja 8 643 2,360
Prihod iz redovnog poslovanja 124,579 107,183
Administrativni troškovi 11 (75,033) (64,468)
Amortizacija dugotrajne materijalne imovine 21 (3,946) (3,592)
Amortizacija dugotrajne nematerijalne imovine 21 (1,408) (1,620)
Rashodi iz redovnog poslovanja (80,387) (69,680)
DOBIT PRIJE REZERVISANJA I POREZA NA DOBIT 44,192 37,503
Umanjenja vrijednosti i rezervisanja 12 (25,890) (22,502)
Naplaćena otpisana potraživanja 10 5,927 6,145
DOBIT PRIJE POREZA NA DOBIT 24,229 21,146
Porez na dobit 13 - -
DOBIT TEKUĆE GODINE 24,229 21,146
Računovodstvene politike i napomene u nastavku čine sastavni dio nekonsolidovanih finansijskih izvještaja.

Income Statements
For the years ended 31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
Notes 2005 2004
Interest income 3 135,665 106,504
Interest expense 4 (51,608) (38,162)
Net interest income 84,057 68,342
Fee and commission income 5 33,551 36,400
Fee and commission expense 6 (3,421) (5,057)
Net fee and commission income 30,130 31,343
Net trading income 7 5,811 5,138
Net income upon disposal of investments 9 3,938 -
Other operating income 8 643 2,360
Operating income 124,579 107,183
Administrative expenses 11 (75,033) (64,468)
Depreciation of tangible fixed assets 21 (3,946) (3,592)
Amortisation of intangible fixed assets 21 (1,408) (1,620)
Operating Expense (80,387) (69,680)
PROFIT BEFORE IMPAIRMENT LOSSES,
PROVISIONS AND INCOME TAX 44,192 37,503
Impairment losses and provisions 12 (25,890) (22,502)
Collected write-offs 10 5,927 6,145
PROFIT BEFORE INCOME TAX 24,229 21,146
Income tax 13 - -
NET PROFIT FOR THE YEAR 24,229 21,146
The accompanying notes form an integral part of these unconsolidated financial statements.
Financial statement
www.raiffeisenbank.ba
87

Finansijski izvještaji
Bilansi stanja
Na dan 31. decembra 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
IMOVINA
88 www.raiffeisenbank.ba
Napomena 2005. 2004.
Novac i sredstva kod banaka 14 90,120 149,011
Obavezna rezerva kod Centralne banke 15 338,183 182,955
Plasmani kod drugih banaka 16 652,329 582,900
Dati krediti i potraživanja 17 1,331,998 1,057,736
Kupljeni krediti koji se drže do dospijeća 18 47 1,136
Kapitalna ulaganja 19 2,484 4,879
Ostala imovina 20 36,222 26,907
Nekretnine i oprema 21 42,090 34,471
UKUPNA IMOVINA 2,493,473 2,039,995
OBAVEZE
Obaveze prema drugim bankama 22 593,475 435,631
Obaveze prema klijentima 24 1,627,021 1,396,340
Rezervisanja 28 18,239 12,023
Ostale obaveze 25 23,294 20,198
Subordinirani dug 23 62,000 42,050
UKUPNE OBAVEZE 2,324,029 1,906,242
VLASNIČKA GLAVNICA
Dionički kapital 89,306 73,306
Rezerve i zadržana dobit 80,138 60,447
UKUPNA VLASNIČKA GLAVNICA 169,444 133,753
UKUPNO OBAVEZE I VLASNIČKA GLAVNICA 2,493,473 2,039,995
PREUZETE I POTENCIJALNE FINANSIJSKE OBAVEZE 27 525,044 374,932
Potpisali u ime Raiffeisen Bank d.d. Bosna i Hercegovina dana 20. januara 2006. godine:
Predsjednik Uprave Direktor sektora za finansije
Edin Muftić Djula Hasanbegović
Napomene u nastavku čine sastavni dio ovih finansijskih izvještaja.

Balance Sheets
as at 31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
ASSETS
Notes 2005 2004
Cash and amounts due from banks 14 90,120 149,011
Obligatory reserve with the Central Bank 15 338,183 182,955
Placements with other banks 16 652,329 582,900
Loans and receivables 17 1,331,998 1,057,736
Purchased loans held to maturity 18 47 1,136
Equity investments 19 2,484 4,879
Other assets 20 36,222 26,907
Property and equipment 21 42,090 34,471
TOTAL ASSETS 2,493,473 2,039,995
LIABILITIES
Amounts due to banks 22 593,475 435,631
Amounts due to customers 24 1,627,021 1,396,340
Provisions 28 18,239 12,023
Other liabilities 25 23,294 20,198
Subordinated debt 23 62,000 42,050
TOTAL LIABILITIES 2,324,029 1,906,242
SHAREHOLDERS’ EQUITY
Share capital 89,306 73,306
Reserves and retained earnings 80,138 60,447
TOTAL SHAREHOLDER’S EQUITY 169,444 133,753
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 2,493,473 2,039,995
FINANCIAL COMMITMENTS AND CONTINGENCIES 27 525,044 374,932
Signed on behalf of Raiffeisen bank d.d. Bosna i Hercegovina on 20 January 2006:
President of the Management Board Director of the Finance Department
Edin Muftić Djula Hasanbegović
The accompanying notes form an integral part of these financial statements.
Financial statement
www.raiffeisenbank.ba
89

Finansijski izvještaji
Izvještaji o novčanim tokovima
za godine koje su završile 31. decembra 2005. i 2004.
(Svi iznosi izraženi su u hiljadama KM)
Poslovne aktivnosti
90 www.raiffeisenbank.ba
Bilješka 2005. 2004.
Neto dobit 24,229 21,146
Usklađenje na neto novčana sredstva ostvarena poslovnim aktivnostima:
Amortizacija 21 5,354 5,212
Rezervisanja 12 25,890 22,502
Neto prihod od prodaje kapitalnih ulaganja 9 (3,938) -
Promjene na imovini i obavezama:
Neto povećanje potraživanja od Centralne banke 15 (155,228) (124,892)
Neto povećanje plasmana kod drugih banaka, prije rezervisanja 16 (69,426) (196,304)
Neto povećanje kredita i potraživanja, prije rezervisanja 17 (294,384) (268,147)
Neto smanjenje kupljenih kredita, prije rezervisanja 18 1,221 2,472
Neto povećanje ostale aktive, prije rezervisanja 20 (9,428) (1,115)
Neto (smanjenje)/povećanje obaveza prema bankama 22 (33,730) 38,343
Neto povećanje oročenih i depozita po viđenju 24 230,681 380,247
Neto povećanje/(smanjenje) obaveza za obračunatu kamatu 25 1,211 (470)
Neto povećanje ostalih obaveza 25 1,885 9,818
NETO NOVAC KORIŠTEN U POSLOVNIM AKTIVNOSTIMA (275,663) (111,188)
Investicijske aktivnosti
Neto povećanje ulaganja, prije rezervisanja za moguće gubitke 19 (741) (495)
Neto nabavke materijalne i nematerijalne imovine 21 (12,935) (14,571)
Prodaja kapitalnih ulaganja 9 7,462 -
NETO NOVAC KORIŠTEN U INVESTICIJSKIM AKTIVNOSTIMA (6,214) (15,066)
Finansijske aktivnosti
Neto povećanje obaveza po kreditima 22 191.574 166.040
Neto povećanje subordiniranog duga 22 19.950 12.713
Uplata kapitala 16.000 24.000
Isplaćene dividende (4.538) (3.049)
NETO NOVAC OSTVAREN U FINANSIJSKIM AKTIVNOSTIMA 222.986 199.704
NETO (SMANJENJE)/POVEĆANJE NOVCA I NOVČANIH EKVIVALENATA (58.891) 73.450
NOVAC I NOVČANI EKVIVALENTI 1. JANUARA 14 149.011 75.561
NOVAC I NOVČANI EKVIVALENTI 31. DECEMBRA 14 90.120 149.011
Napomene u nastavku čine sastavni dio ovih finansijskih izvještaja.

Statements of cash flows
For the years ended 31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
Operating Activities
Notes 2005 2004
Net Income 24,229 21,146
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization 21 5,354 5,212
Impairment losses and provisions 12 25,890 22,502
Net income from sale of equity investments 9 (3,938) -
Changes in operating assets and liabilities:
Net increase in due from Central Bank 15 (155,228) (124,892)
Net increase in placements with other banks, before impairment losses 16 (69,426) (196,304)
Net increase in loans and receivables, before impairment losses 17 (294,384) (268,147)
Net decrease in purchased loans, before impairment losses 18 1,221 2,472
Net increase in other assets, before impairment losses 20 (9,428) (1,115)
Net (decrease)/increase in due to banks 22 (33,730) 38,343
Net increase in demand and term deposits 24 230,681 380,247
Net increase/(decrease) in accrued interest payable 25 1,211 (470)
Net increase in other liabilities 25 1,885 9,818
NET CASH USED IN OPERATING ACTIVITIES (275,663) (111,188)
Investing Activities
Net increase in investments, before impairment losses 19 (741) (495)
Net purchases of property and equipment 21 (12,935) (14,571)
Proceeds from sale of equity investments 9 7,462 -
NET CASH USED IN INVESTING ACTIVITIES (6,214) (15,066)
Financing Activities
Net proceeds from borrowings 22 191,574 166,040
Net proceeds from subordinated debt 22 19,950 12,713
Paid-in capital 16,000 24,000
Dividends paid (4,538) (3,049)
NET CASH PROVIDED BY FINANCING ACTIVITIES 222,986 199,704
NET (DECREASE)/ INCREASE IN CASH AND CASH EQUIVALENTS (58,891) 73,450
CASH AND CASH EQUIVALENTS AT 1 JANUARY 14 149,011 75,561
CASH AND CASH EQUIVALENTS AT 31 DECEMBER 14 90,120 149,011
The accompanying notes form an integral part of these financial statements.
Financial statement
www.raiffeisenbank.ba
91

Finansijski izvještaji
Izvještaji o promjenama vlasničke glavnice
Za godine koje su završile 31. decembra 2005. i 2004.
(Svi iznosi izraženi su u hiljadama KM)
92 www.raiffeisenbank.ba
Dionički kapital Zadržana
dobit
Ukupno
Stanje 31. decembra 2003. 49,306 42,350 91,656
Promjene glavnice tokom 2004. godine
12. emisija dionica 10,000 - 10,000
13. emisija dionica 7,000 - 7,000
14. emisija dionica 7,000 - 7,000
Dividende - (3,049) (3,049)
Neto dobit za godinu - 21,146 21,146
Stanje 31. decembra 2004. 73,306 60,447 133,753
Promjene glavnice tokom 2005. godine
15. emisija dionica 16,000 - 16,000
Dividende - (4,538) (4,538)
Neto dobit za godinu - 24,229 24,229
Stanje 31. decembra 2005. 89,306 80,138 169,444
Napomene u nastavku čine sastavni dio finansijskih izvještaja.

Statements of changes in shareholders’ equity
For the years ended 31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
Share
capital
Retained
earnings
Balance as at 31 December 2003 49,306 42,350 91,656
Changes in equity for 2004
12th issue of shares 10,000 - 10,000
13th issue of shares 7,000 - 7,000
14th issue of shares 7,000 - 7,000
Dividend declared - (3,049) (3,049)
Net income for the year - 21,146 21,146
Balance as at 31 December 2004 73,306 60,447 133,753
Changes in equity for 2005
15th issue of shares 16,000 - 16,000
Dividend declared - (4,538) (4,538)
Net income for the year - 24,229 24,229
Balance as at 31 December 2005 89,306 80,138 169,444
The accompanying notes form an integral part of these financial statements.
Financial statement
Total
www.raiffeisenbank.ba
93

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
1. OPĆI PODACI
Historija i osnivanje
Raiffeisen Bank d.d. Bosna i Hercegovina, Sarajevo, Danijela Ozme 3 (“Banka”) počela je sa radom 1993. godine.
Na dan ovih izvještaja, Raiffeisen International Bank Holding AG je imala 96,99% učešća u dioničarskom kapitalu.
Osnovne djelatnosti Banke
Glavne djelatnosti Banke su:
1. primanje i plasiranje depozita,
2. primanje depozita po viđenju i oročenih depozita,
3. davanje dugoročnih i kratkoročnih kredita i izdavanje dugoročnih i kratkoročnih garancija lokalnim tijelima,
preduzećima, stanovništvu, privatnim osobama i drugim kreditnim institucijama koje se bave finansijskim
najmovima i transakcijama u stranoj valuti,
4. aktivnosti na međubankarskom tržištu,
5. obavljanje unutrašnjeg i vanjskog platnog prometa
6. mjenjačke i ostale redovne bankarske usluge
7. pružanje bankarskih usluga putem razvijene mreže filijala u Bosni i Hercegovini.
Nadzorni odbor
Uprava Banke
Odbor za reviziju
94 www.raiffeisenbank.ba
Herbert Stepic Predsjednik
Zdenko Adrović Član
Heinz Hoedl Član
Petter Lennkh Član
Angelika Weiss Član
Edin Muftić Direktor
Zdenko Mihajlović Član
Ognjen Samardžić Član
Dino Osmanbegović Član
Michael Müller Član
Wolfgang Trost Predsjednik
Suad Kurtagić Član
Boris Tihi Član
Izudin Kešetović Član
Miloš Trifković Član

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
1. GENERAL
History and incorporation
Raiffeisen Bank d.d. Bosna i Hercegovina, Sarajevo, Danijela Ozme 3 (the “Bank”) commenced operations
in 1993. At the date of these financial statements, Raiffeisen International Bank Holding AG held 96.99% of
shareholders’ capital.
Principal activities of the Bank
The Bank’s main operations are as follows:
1. accepting deposits from the public and placing of deposits,
2. providing current and term deposit accounts;
3. granting short- and long-term loans and guarantees to the local municipalities, corporate customers,
private individuals and other credit institutions dealing with finance lease and foreign exchange
transactions,
4. money market activities
5. performing local and international payments,
6. foreign currency exchange and other banking-related activities
7. providing banking services through an extensive branch network in the Bosnia and Herzegovina
Supervisory Board
Board of Directors
Audit Committee
Herbert Stepic President
Zdenko Adrović Member
Heinz Hoedl Member
Petter Lennkh Member
Angelika Weiss Member
Edin Muftić General Manager
Zdenko Mihajlović Member
Ognjen Samardžić Member
Dino Osmanbegović Member
Michael Müller Member
Wolfgang Trost President
Suad Kurtagić Member
Boris Tihi Member
Izudin Kešetović Member
Miloš Trifković Member
Financial statement
www.raiffeisenbank.ba
95

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
Vlasnička struktura Banke je kako slijedi:
Dioničari Broj dionica
Raiffeisen International
Bank Holding AG
Millenia Beteiligungsverwaltungs
GmbH
96 www.raiffeisenbank.ba
31. decembra 2005. 31. decembra 2004.
Iznos
‘000 KM % Broj dionica
Iznos
‘000 KM %
329,104 82,276 96,99 267,024 66,756 96,97
10,180 2,545 3,00 8,260 2,065 3,00
Ostali dioničari 48 12 0,01 48 12 0,03
Kapitalne premije - 4,473 - - 4,473 -
Total 339,332 89,306 100,00 275,332 73,306 100,00
Tokom 2005. godine dionički kapital Banke se povećao sa 73.306 hiljada KM (275.332 obične dionice) na 89.306
hiljada KM (339.332 obične dionice) kroz emisiju 64.000 običnih dionica u vrijednosti od 16.000 hiljada KM kroz
15. zatvorenu emisiju običnih dionica Raiffeisen International Bank Holding AG u ukupnom iznosu od 15.520 hiljada
KM i Millenia Beteiligungsverwaltungs GmbH u ukupnom iznosu od 480 hiljada KM. Dividenda se isplaćuje samo u
skladu sa odobrenjem skupštine Banke.
Banka posluje kroz jedan poslovni i geografski segment, a to je pružanje bankarskih usluga u Bosni i Hercegovini.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
The shareholding structure is as follows:
Shareholders No. of shares
Raiffeisen International
Bank Holding AG
Millenia Beteiligungsverwaltungs
GmbH
31 December 2005 31 December 2004
Amount
‘000 KM % No. of shares
Amount
‘000 KM %
329,104 82,276 96.99 267,024 66,756 96.97
10,180 2,545 3.00 8,260 2,065 3.00
Other shareholders 48 12 0.01 48 12 0.03
Capital premiums - 4,473 - - 4,473 -
Total 339,332 89,306 100.00 275,332 73,306 100.00
During 2005 the Bank’s paid in capital was increased from KM 73,306 thousand (275,332 ordinary shares) to KM
89,306 thousand (339,332 ordinary shares) by the issue of 64,000 ordinary shares for KM 16,000 thousand by
way of 15th closed ordinary share issue to Raiffeisen International Bank Holding AG for shares in total amount of
KM 15,520 thousand and Millenia Beteiligungsverwaltungs GmbH for shares in total amount of KM 480 thousand.
Dividends are recognized and paid only if approved by the Bank’s General Assembly.
The Bank considers that it operates in a single business segment, and a single geographical segment, that is the
provision of banking services in Bosnia and Herzegovina.
Financial statement
www.raiffeisenbank.ba
97

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
2. SAŽETAK TEMELJNIH RAČUNOVODSTVENIH POLITIKA
Temelj prezentiranja
Finansijski izvještaji sastavljeni su u skladu sa Međunarodnim standardima finnsijskog izvještavanja (“MSFI”) koje
je objavio Odbor za međunarodne računovodstvene standarde. Ovi finansijski izvještaji pripremljeni su po načelu
historijskog troška, izuzev određenih finansijskih instrumenata koji su iskazani u revaloriziranim iznosima. Finansijski
izvještaji prezentirani su u hiljadama konvertibilnih maraka (‘000 KM), budući da je konvertibilna marka funkcijska
valuta Banke.
Finansijski izvještaji sastavljeni su po načelu nastanka događaja, kao i pod pretpostavkom vremenske neograničenosti
poslovanja.
Sastavljanje finansijskih izvještaja u skladu sa MSFI zahtijeva od Uprave da daje procjene i izvodi pretpostavke koje
utiču na iskazane iznose imovine i obaveza te objavu nepredviđene imovine i nepredviđenih obaveza na datum
finansijskih izvještaja, kao i na iskazane prihode i rashode tokom izvještajnog perioda. Procjene se temelje na
informacijama koje su bile dostupne na datum sastavljanja finansijskih izvještaja, te se stvarni iznosi mogu razlikovati
od procijenjenih.
Banka je ove nekonsolidivane finansijske izvještaje sastavila u skladu sa zakonima i propisima Federacije Bosne i
Hercegovine te je ulaganja u povezana i pridružena lica u ovim finansijskim izvještajima iskazala po trošku. Banka
će također izraditi i konsolidovane finansijske izvještaje, koje će Uprava usvojiti. Radi boljeg razumijevanja Grupe u
cjelini, korisnici trebaju čitati konsolidovane finansijske izvještaje.
Banka vodi svoje poslovne knjige i sastavlja svoje finansijske izvještaje u skladu s propisima i odlukama Federalne
bankarske agencije (FBA) i zakona o bankama Federacije Bosne i Hercegovine. Priloženi finansijski izvještaji
sastavljeni su na temelju računovodstvenih evidencija Banke i uključuju odgovarajuća usklađenja i reklasifikacije koje
su potrebne u svrhu istinitog i objektivnog prikaza u skladu s MSFI.
Promjena računovodstvene politike
Od 1. januara 2005. godine Banka je promijenila svoje računovodstvene politike, a vezano za priznavanje prihoda
od naknada za odobravanja kredita i za rashode od naknada za uzete kredite. U skladu s novom politikom prihodi
od naknada za date kredite, poslije odobrenja i puštanja sredstava, su razgraničeni (zajedno s ostalim pripadajućim
troškovima) i priznati kao usklađenje efektivnog prinosa od kredita tokom vijeka trajanja kredita. Rashod od
naknada za uzete kredite razgraničava se tokom vijeka trajanja uzetih sredstava. Uprava Banke vjeruje da će nova
računovodstvena politika rezultirati vjerodostojnijim prezentiranjem finansijskih izvještaja. Efekt promjene je smanjenje
prihoda od naknada u iznosu od 5.679 hiljada KM i smanjenje troškova naknada u iznosu od 1.353 hiljade KM u
2005. godini, što je uticalo na smanjenje dobiti prije poreza za 4.325 hiljade KM. Za godine koje su završile prije 1.
januara 2005. Uprava je procijenila da efekt neprimjene nove računovodstve politike retroaktivno nije materijalan
za finansijske izvještaje u cjelini. Da je nova računovodstvena politika bila primijenjena, zadržana dobit na dan 31.
decembra 2004. godine bi trebala biti umanjena za 353 hiljade KM.
98 www.raiffeisenbank.ba

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation
These financial statements are prepared in accordance with International Financial Reporting Standards (‘IFRS’) as
published by the International Accounting Standards Board. The financial statements have been prepared under the
historical cost basis, except for the revaluation of certain financial instruments at fair value. The financial statements
are presented in thousands of convertible mark (KM’000) which is the functional currency of the Bank.
The financial statements are prepared on an accrual basis of accounting, under the going concern assumption.
The preparation of financial statements in conformity with IFRS requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and their reported amounts of revenues and expenses during the reporting
period. These estimates are based on the information available as at the balance sheet date and actual results could
differ from those estimates.
The Bank has prepared these unconsolidated financial statements as required by Law of Federation of Bosnia and
Herzegovina, and its investments in associates and subsidiaries are presented in these financial statements at cost.
The Bank will also prepare consolidated financial statements, which will be approved by the Management Board. For
a better understanding of the Group as a whole, users should read the consolidated financial statements.
The Bank maintains its books of accounts and prepares financial statements for regulatory purposes in accordance
with the regulations of the Federal Banking Agency (‘FBA”) and Law on Banks of the Federation of Bosnia and
Herzegovina. The accompanying financial statements are based on the accounting records of the Bank, together with
appropriate adjustments and reclassifications necessary for fair presentation in accordance with IFRS.
Change in accounting policies
Effective 1 January 2005 the Bank changed its accounting policy in respect of recognizing loan origination fee income
and borrowing fee expense. According to the new policy loan origination fees, after approval and drawdown of
loans, are deferred (together with related direct costs) and recognized as an adjustment to the effective yield of the
loan over its life and borrowing fee expense is deferred over the life of the borrowing. Management believes that
new accounting policy will result in a more appropriate financial statement presentation. The effect of the change is
a decrease in fee income of KM 5,679 thousand and decrease in fee expense of KM 1,353 thousand in 2005, which
resulted in profit before income tax reduced by KM 4,325 thousand. The Management assessed the effect of not
applying new accounting policy retrospectively, for the years ended before 1 January 2005 as not material for the
financial statements as a whole. If the new accounting policy had been applied, retained earnings as of 31 December
2004 would have been decreased by KM 353 thousand.
Financial statement
www.raiffeisenbank.ba
99

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
Stvarna stanja za 2005. i 2004. te pro-forma stanja za 2004. godinu mogu se prikazat kako slijedi:
Promjena u portfoliju kredita i potraživanja Banke
U skladu sa promjenama koje donosi izmijenjeni MRS 39 Finansijski instrumenti, neto zajmovi i potraživanja iz
sredstava Banke zamijenjeni su stavom “Dati krediti i potraživanja”. Prema izmijenjenoj definiciji, Banci je dopušteno
da u date kredite i potraživanja svrsta kupljene kredite koji ne kotiraju na aktivnom tržištu.
Kapitalna ulaganja
Podružnica je subjekt koji je pod kontrolom Banke. Kontrola se postiže na način da Banka ima moć sudjelovanja u
odlukama o finansijskim i poslovnim politikama subjekta na način da ostvari koristi od poslovanja povezanog lica.
Pridruženo lice je subjekt u kojem Banka ima značajan utjecaj, ali koji nije ni pridruženo lice niti zajedničko ulaganje.
Značajan uticaj je moć sudjelovanja u odlukama o finansijskim i poslovnim politikama subjekta koji je predmet
ulaganja, ali nije i kontrola niti zajednička kontrola nad tim politikama.
Ulaganja u nekonsolidovana povezana i pridružena lica vrednuju se u odvojenim finansijskim izvještajima po trošku
umanjenom za gubitke od umanjenja vrijednosti.
Finansijske informacije o ulaganjima u povezana i pridružena lica prikazane su u nastavku:
100 www.raiffeisenbank.ba
2005. 2004. Pro Forma 2004.
Prihod od naknada - krediti i garancije 3,623 3,553 2,951
Rashodi od naknada – uzeti krediti
i druge bankarske usluge 2,802 4,249 3,839
Unaprijed plaćeni troškovi 2,596 1,987 3,169
Odgođeni prihod 5,679 - 1,535
Zadržana dobit 80,138 60,447 60,094
Podržnice:
Raiffeisen Brokers d.o.o.
Sarajevo
DUF, Market Investment
Group d.o.o Sarajevo
Ukupna imovina Dionički kapital
Dobit za
2005.
Akumulirani
dobici/gubici
Ukupna
glavnica
2,127 507 881 - 1,388
3,145 1,610 560 934 3,104

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
Actual balances for 2005 and 2004 and pro forma balances for 2004 can be presented as follows:
Change in portfolio of originated loans and receivables
In accordance with the changes of IAS 39 (Revised) Financial Instruments portfolio of ‘Originated loans and advances
to customers, net was changed to ‘Loans and receivables’. Under the revised definition, the Bank is permitted to
classify as loans and receivables purchased loans that are not quoted in an active market.
Equity investments
A subsidiary is an entity which is controlled by the Bank. Control is achieved where the Bank has the power to govern
the financial and operating policies of an entity so as to obtain benefits from its activities.
An associate is an entity over which the Bank has significant influence and that is neither a subsidiary nor a joint
venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee
but is not control or joint control over those policies.
Investments in non-consolidated subsidiaries and associates are valued in these unconsolidated financial statements
at cost less impairment.
Financial information about investments in subsidiaries and associates are as follows:
2005 2004 Pro Forma 2004
Fee income - loans and guarantees 3,623 3,553 2,951
Fee expense - borrowed funds and
other banking services 2,802 4,249 3,839
Prepaid expenses 2,596 1,987 3,169
Deferred income 5,679 - 1,535
Retained earnings 80,138 60,447 60,094
Subsidiaries:
Total
Assets
Share
capital
Profit for
2005
Accumulated
losses/gains
Total Equity
Raiffeisen Brokers d.o.o.
Sarajevo 2,127 507 881 - 1,388
DUF, Market Investment Group d.o.o
Sarajevo 3,145 1,610 560 934 3,104
Financial statement
www.raiffeisenbank.ba
101

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
Prihodi i rashodi od kamata
Prihodi i rashodi od kamata iskazuju se u Bilansu uspjeha za sve instrumente koji donose kamatu po načelu
obračunatih kamata primjenom metode stvarnog prinosa, a na temelju stvarne kupovne cijene. Prihodi od kamata
uključuju amortizaciju diskonta, premije ili bilo koje razlike između početne knjigovodstvene vrijednosti dužničkih
vrijednosnih papira i njihove vrijednosti po dospjeću, uključujući materijalne naknade za obradu kreditnih zahtjeva.
Kamate na depozite se pripisuju glavnici ako je to ugovorom predviđeno. Prihod od kamata se suspendira kada se
ustanovi da nije izvjestan. Suspendirana kamata se iskazuje kao prihod kada se naplati.
Prihodi i rashodi od naknada i provizija
Naknade i provizije sastoje se uglavnom od provizija u domaćem i inostranom platnom prometu, te naknada za
odobrenje kredita i drugih kreditnih instrumenata Banke.
Provizije od platnog prometa priznaju se u periodu u kojem su usluge pružene.
Naknade za odobrenje kredita se nakon odobrenja i povlačenja kreditnih sredstava odgađaju, (zajedno s povezanim
direktnim troškovima odobrenja) i priznaju kao usklađenje efektivnog prinosa na kredit tokom perioda kreditiranja
(od 1. januara 2005. godine)
Oporezivanje
Poreski rashod s temelja poreza na dobit jest zbirni iznos tekuće poreske obaveze i odgođenih poreza.
Tekuća poreska obaveza temelji se na oporezivoj dobiti za godinu. Oporeziva dobit razlikuje se od neto dobiti
perioda iskazanoj u bilansu uspjeha jer uključuje stavke prihoda i rashoda koje su oporezive ili neoporezive u
drugim godinama, kao i stavke koje nikada nisu oporezive ni odbitne. Tekuća poreska obaveza Društva izračunava
se primjenom poreskih stopa koje su na snazi, odnosno u postupku donošenja na datum bilansa.
Odgođeni porez jest iznos za koji se očekuje da će po njemu nastati obaveza ili povrat temeljem razlike između
knjigovodstvene vrijednosti imovine i obaveza u finansijskim izvještajima i pripadajuće poreske osnovice koja se
koristi za izračunavanje oporezive dobiti a obračunava se metodom bilansne obaveze. Odgođene poreske obaveze
općenito se priznaju za sve oporezive privremene razlike, a odgođena poreska imovina se priznaje u onoj mjeri u
kojoj je vjerojatno da će biti raspoloživa oporeziva dobit na temelju koje je moguće iskoristiti privremene razlike koje
se odbijaju.
Knjigovodstveni iznos odgođene poreske imovine preispituje se na svaki datum bilanse i umanjuje u onoj mjeri u kojoj
više nije vjerojatno da će biti raspoloživ dostatan iznos oporezive dobiti za povrat cijelog ili dijela poreske imovine.
Odgođeni porez obračunava se po poreskim stopama za koje se očekuje da će biti u primjeni u periodu u kojem
će doći do podmirenja obaveze ili realizacije sredstva. Odgođeni porez knjiži se na teret ili u korist bilansa uspjeha,
osim ako se odnosi na stavke koje se knjiže direktno u korist ili na teret glavnice, u kojem slučaju se odgođeni porez
također iskazuje u okviru glavnice.
Odgođena poreska imovina i obaveze se prebijaju ako se odnose na poreze na dobit koje je nametnula ista poreska
vlast i ako Banka namjerava podmiriti svoju tekuću poresku imovinu i obaveze na neto osnovi.
Banka ima obavezu plaćanja raznih indirektnih poreza, koji su iskazani u okviru administrativnih troškova.
se diskontiranjem budućin novčanih tokova primjenom kamatnih stopa koje se trenutno primjenjuju na depozite sa
sličnim preostalim periodom do dospijeća.
102 www.raiffeisenbank.ba

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
Interest Income and Expense
Interest income and expense are recognized in the income statement for all interest bearing instruments on a time
proportion basis that takes into account the effective yield on the assets. Interest revenue includes the amount of
amortization of any discount, premium or other difference between the initial carrying amount of a debt security and
its amount at maturity including any material loan origination fees.
Interest charged on deposits is added to the principal where this is foreseen by the agreement. Interest income is
suspended when it is considered that recovery of the income is unlikely. Suspended interest is recognized as income
when collected.
Fee and commission income and expense
Fees and commissions consist mainly of fees earned on domestic and foreign payment transactions, and fees for
loans and other credit instruments issued by the Bank.
Fees for payment transactions are recognised in the period when services are rendered.
Loan origination fees, after approval and drawdown of loans, are deferred (together with related direct costs) and
recognized as an adjustment to the effective yield of the loan over its life (from 1 January 2005).
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax expense is based on taxable income for the year. Taxable income differs from net income as reported in the
income statement because it excludes items of income or expense that are taxable or deductible in other years and it
further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using
tax rates that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amount of assets
and liabilities in the financial statements and the corresponding tax basis used in the computation of taxable profit,
and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for
all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable
profits will be available against which deductible temporary differences can be utilised.
The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it
is no longer probable that sufficient taxable profit will be available to allow all or part of the asset to be recovered.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the
asset realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged
or credited directly to equity, in which case the deferred tax is also dealt with in equity.
Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same taxation authority
and the Bank has the ability and intention to settle on a net basis.
The Bank is subject to various indirect taxes which are included in administrative expenses.
Financial statement
www.raiffeisenbank.ba
103

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
Novac i novčani ekvivalenti
Za potrebe izvještavanja o novčanim tokovima, novac i novčani ekvivalenti obuhvaćaju sredstva kod Centralne banke
Bosne i Hercegovine (‘CBBH’) i stanja na žiro računima kod drugih banaka.
Novac i novčani ekvivalenti isključuju obaveznu minimalnu rezervu kod Centralne Banke, budući da sredstva obavezne
rezerve nisu na raspolaganju Banci u njenom svakodnevnom poslovanju. Obavezna minimalna rezerva kod CBBiH je
iznos koji su obavezne izdvajati sve poslovne banke koje imaju dozvolu za rad u Bosni i Hercegovini.
Finansijska imovina i finansijske obaveze
Finansijska imovina Banke razvrstana je u portfelje ovisno o namjeri Banke u trenutku sticanja finansijskog sredstva
i u skladu sa ulagačkom strategijom Banke. Temeljna razlika među pomenutim kategorijama je u pristupu mjerenja
finansijske imovine i priznavanja fer vrijednosti u finansijskim izvještajima.
Sva finansijska imovina i sve finansijske obaveze priznaju se, odnosno prestaju se priznavati na datum trgovanja kad
je kupoprodaja finansijskog sredstva ili finansijske obaveze definirana ugovorenim datumom isporuke finansijskog
sredstva u rokovima utvrđenima prema konvencijama na predmetnom tržištu.
Pri početnom priznavanju finansijskog sredstva ili finansijske obaveze Banka sredstvo, odnosno obavezu mjeri po fer
vrijednosti, koja se u slučaju finansijskog sredstva ili finansijske obaveze ne iskazuje po fer vrijednosti kroz bilans
uspjeha uvećava za troškove transakcije koji se mogu direktno pripisati sticanju, odnosno izdavanju finansijskog
sredstva, odnosno finansijske obaveze.
Dati krediti i potraživanja
Dati krediti i potraživanja su nederivacijska finansijska imovina s fiksnim ili odredivim plaćanjima koja ne kotira na
aktivnom tržištu.
Zajmovi i potraživanja mjere se početno po fer vrijednosti i kasnije po amortiziranom trošku primjenom metode
efektivne kamatne stope, umanjenom za ispravku vrijednosti zbog umanjenja. Troškovi prema trećim stranama,
kao što su tarife za osiguranje zajma, tretiraju se kao dio troška transakcije, kao i naknade klijenata. Naknade za
odobrenje zajmova odgađaju se, zajedno sa svim povezanim direktnim troškovima, i priznaju kao usklađivanje
efektivnog prinosa na kredit.
Ispravka vrijednosti zajmova zbog umanjenja knjiži se ako postoji objektivan dokaz da Banka neće biti u mogućnosti
naplatiti cijeli iznos potraživanja o dospijeću. Ispravka vrijednosti predstavlja razliku između knjigovodstvenog i
nadoknadivog iznosa, koji predstavlja sadašnju vrijednost očekivanih novčanih tokova, uključivši nadoknadive iznose
po garancijama i kolateralima, diskontiranih primjenom efektivne kamatne stope na zajam utvrđene pri početnom
priznavanju. Ispravka vrijednosti za gubitke od umanjenja po pojedinačnim zajmovima procjenjuje se temelju
kreditne sposobnosti i rezultata poslovanja zajmoprimatelja, uzimajući u obzir vrijednost instrumenta osiguranja za
naplatu zajma ili jamstvo treće strane.
Ako Banka utvrdi da ne postoji objektivan dokaz o umanjenju određenog finansijskog sredstva, bilo ono značajno
ili ne, spomenuto sredstvo svrstava u grupu finansijske imovine sličnih obilježja kreditnog rizika i sva sredstva u istoj
grupi podvrgava zajedničkoj procjeni u svrhu umanjenja vrijednosti. Imovina kod koje se umanjenje procjenjuje
pojedinačno i kod koje se gubici od umanjenja priznaju, odnosno nastavljaju priznavati, ne uključuje se u zajedničku
procjenu umanjenja vrijednosti.
104 www.raiffeisenbank.ba

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
Cash and cash equivalents
For the purpose of reporting cash flows, cash and cash equivalents are defined as cash, balances with the Central
Bank (‘CBBH’) and current accounts with other banks.
Cash and cash equivalents excludes the compulsory minimum reserve with the Central Bank as these funds are not
available for the Bank’s day to day operations. The compulsory minimum reserve with the CBBH is a required reserve
to be held by all commercial banks licensed in Bosnia and Herzegovina.
Financial assets and liabilities
Financial assets held by the Bank are categorised into portfolios in accordance with the Bank’s intent on the
acquisition and pursuant to the Bank’s investment strategy. The principal difference among the portfolios relates to
the measurement of financial assets and the recognition of their fair values in the financial statements.
All financial assets and liabilities are recognised and derecognised on a trade date basis where the purchase or sale
of financial asset or liability is under a contract whose terms require delivery of the financial asset within the timeframe
established by the market concerned.
When a financial asset or financial liability is recognised initially, the Banks measures it at its fair value plus, in the
case of a financial asset or financial liability not at fair value through profit or loss, transaction costs that are directly
attributable to the acquisition or issue of the financial asset or financial liability.
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted
in an active market.
Loan and receivables are measured at initial recognition at fair value, and are subsequently measured at amortised
cost using the effective interest method, less any allowance for impairment. Third party expenses, such as legal fees,
incurred in securing a loan are treated as part of the cost of the transaction as well as fees received from customers.
Loan origination fees are deferred (together with related direct costs) and recognized as an adjustment to the effective
yield of the loan.
An allowance for loan impairment is established if there is objective evidence that the Bank will not be able to collect
all amounts due. The amount of the allowance is the difference between the carrying amount and the recoverable
amount, being the present value of expected cash flows, including amounts recoverable from guarantees and
collateral, discounted at the original effective interest rate of loans computed at initial recognition. Specific allowances
are assessed with reference to the credit standing and performance of the borrower and take into account the value
of any collateral or third party guarantees.
If the Bank determines that no objective evidence of impairment exists for an individually assessed financial asset,
whether significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics
and collectively assesses them for impairment. Assets that are individually assessed for impairment and for which an
impairment loss is or continues to be recognised are not included in a collective assessment of impairment.
Financial statement
www.raiffeisenbank.ba
105

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
Finansijska imovina i finansijske obaveze (nastavak)
Objektivan dokaz o umanjenju finansijskog sredstva kod kojeg se procjena umanjenja obavlja zajednički može biti
negativna promjena u platnom statusu dužnika u istoj grupi (npr. veći broj dospjelih neizmirenih iznosa) ili promjene
u privrednim uslovima u zemlji ili mjestu poslovanja koji se mogu povezati s neurednošću plaćanja, odnosno
pogoršanjem imovine u toj grupi.
Nenaplativi zajmovi otpisuju se u iznosu povezane ispravke vrijednosti zbog umanjenja, a svi kasnije naplaćeni
iznosi knjiže se u korist bilansa uspjeha u okviru ispravke vrijednosti po zajmovima i avansima. Banka za kašnjenje u
plaćanju dužnicima zaračunava zateznu kamatu, koju obračunava na osnovu novčanih primitaka i iskazuje u okviru
prihoda od kamata.
Kupljeni krediti koji se drže do dospjeća
Kupljeni krediti koji se drže do dospijeća se sastoje od kreditnog portfolia kupljenog od USAID Business Finance
kako je objašnjeno u Napomeni 18. Banka ima namjeru i sposobnost da drži ovaj portfolio do dospjeća svakog
pojedinačnog kredita. Sredstva držana do dospijeća se priznaju po trošku i evidentiraju po amortizovanom trošku
upotrebljavajući metodu efektivne kamatne stope, umanjena za rezervisanja za moguće gubitke.
Nekretnine i oprema
Nekretnine i oprema početno se iskazuju po trošku nabavke umanjenom za ispravku vrijednosti i akumulirane gubitke
od umanjenja vrijednosti. Trošak nabavke obuhvata nabavnu cijenu i sve troškove direktno povezane s dovođenjem
sredstva u radno stanje za namjeravanu upotrebu. Troškovi tekućeg održavanja i popravaka, zamjene te investicijskog
održavanja manjeg obima priznaju se kao rashod kad su nastali. Troškovi značajnih investicijskih održavanja i
zamjene se kapitaliziraju. Dobici i gubici temeljem rashodovanja ili otuđenja dugotrajne materijalne imovine iskazuju
se u bilansu uspjeha u periodu u kojem su nastali.
Nekretnine u izgradnji iskazane su po trošku nabavke umanjenom za eventualne gubitke od umanjenja. Obračun
amortizacije započinje u trenutku u kojem je sredstvo spremno za namjeravanu upotrebu. Amortizacija se obračunava
na temelju procijenjenog vijeka upotrebe sredstva, koji je kako slijedi:
106 www.raiffeisenbank.ba
2005. 2004.
Zgrade 1,3% 1,3%
Namještaj i automobile 11%-15,5% 11%-15,5%
Računari 33,3% 33,3%
Ostala oprema 7%-20% 7%-20%
Nematerijalna imovina 20% 20%

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
Financial assets and liabilities (continued)
Objective evidence of impairment for financial assets assessed collectively for impairment are the adverse changes
in the payment status of borrowers in the group (e.g. an increased number of delayed payments) or national or local
economic conditions that correlate with defaults on the assets in the group.
When a loan is uncollectible, it is written off against the related allowance for impairment; subsequent recoveries are
credited to the ‘Impairment losses on loans and advances’ line in the income statement.
The Bank charges penalty interest to borrowers when a portion of the loan falls overdue. Penalty interest is accounted
for on a cash received basis in the caption ‘Interest income’.
Purchased loans held to maturity
Purchased loans held to maturity comprise the loan portfolio purchased from USAID Business Finance as described in
Note 18. The Bank has intention and ability to hold this portfolio till maturity of each loan. Assets held to maturity are
recognized at cost and carried at amortized cost using the effective yield method, less any provision for impairment.
Property and equipment
Property and equipment are started at cost less accumulated depreciation and accumulated impairment losses, if
any. Cost includes the purchase price and directly associated cost of bringing the asset to a working condition for
its intended use. Maintenance and repairs, replacements and improvements of minor importance are expensed as
incurred. Significant improvements and replacement of assets are capitalised. Gains or losses on the retirement or
disposal of property and equipment are included in the statement of income in the period in which they occur.
Properties in the course of construction are carried at cost, less impairment loss, if any. Depreciation commences when
the assets are ready for their intended use. Depreciation is calculated on a straight-line basis over the estimated useful
life of the applicable assets and based upon the application of the following annual percentages to historical costs:
2005 2004
Buildings 1.3% 1.3%
Furniture and vehicles 11%-15.5% 11%-15.5%
Computers 33.3% 33.3%
Other equipment 7%-20% 7%-20%
Intangible assets 20% 20%
Financial statement
www.raiffeisenbank.ba
107

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
Preračunavanje stranih valuta
Poslovni događaji koji nisu u konvertibilnim markama početno se knjiže preračunavanjem po važećem kursu na datum
transakcije. Monetarna imovina i obaveze iskazani u stranim valutama ponovno se preračunavaju na dan bilanse
primjenom kursa važećeg na taj datum. Nenovčane stavke u stranoj valuti iskazane po fer vrijednosti preračunavaju
se primjenom valutnog kursa važećeg na datum procjene fer vrijednosti. Nenovčane stavke u stranoj valuti iskazane
po historijskom trošku se ne preračunavaju ponovno na dan bilansa. Dobici i gubici nastali preračunavanjem
uključuju se u bilans uspjeha perioda.
Banka vrednuje svoju imovinu i obaveze prema srednjem kursu Centralne banke Bosne i Hercegovine koji je važeći
na dan bilansa stanja. Kursevi Centralne banke za najznačajnije valute koje je Banka primjenjivala u izradi bilansa
na izvještajne datume su kako slijedi:
31. decembar 2005. EUR 1= KM 1,95583 USD 1=KM 1,657905
31. decembar 2004. EUR 1= KM 1,95583 USD 1=KM 1,437687
Preuzete obaveze u vanbilansnoj evidenciji
U okviru redovnog poslovanja Banka preuzima obaveze za kreditiranjem, koje vodi u vanbilansnoj evidenciji a koje
prvenstveno obuhvaćaju garancije, akreditive i nepovučene odobrene kredite. Banka navedene preuzete finansijske
obaveze iskazuje u bilansu ako i kad iste postanu plative.
Rezervisanja
Banka priznaje rezerviranje ako ima sadašnju obavezu koja je nastala temeljem prošlih događaja, ako postoji
vjerovatnost da će za podmirenje obaveze biti potreban odliv resursa. Uprava Banke određuje iznos rezervirsanja na
temelju najbolje moguće procjene troškova koji će nastati podmirenjem obaveze. Ako je učinak materijalno značajan,
rezervisanja se diskontiraju do sadašnje vrijednosti.
Reklasifikacija
Određeni iznosi iz finansijskih izvještaja za prethodnu godinu reklasificirani su da bi bili u skladu sa prikazom tekuće
godine.
Regulatorno okružje
Banka podliježe regulativi Federalne bankarske agencije, kojom se propisuju limiti i druga ograničenja vezana
za minimalnu razinu adekvatnosti kapitala, klasifikaciju zajmova i vanbilansnih preuzetih obaveza te utvrđivanje
rezervisanja za kreditni rizik, kamatni rizik i valutni rizik, rizik likvidnosti i deviznu poziciju. Banka je na kraju godine
načelno udovoljavala svim regulatornim zahtjevima.
108 www.raiffeisenbank.ba

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
Foreign currency translation
Transactions in currencies other than Bosnia and Herzegovina KM are initially recorded at the rates of exchange
prevailing on the dates of the transactions. Monetary assets and liabilities are translated at the rates prevailing on
the balance sheet date. Non-monetary items carried at fair value that are denominated in foreign currencies are
retranslated at the rates prevailing on the date when the fair value was determined. Non-monetary items that are
measured in terms of historical cost in a foreign currency are not retranslated. Profits and losses arising on translation
are included in the statement of income for the period.
The Bank values its assets and liabilities by middle rate of Central Bank of Bosnia and Herzegovina valid at the date
of balance sheet. The principal rates of exchange set forth by the Central Bank and used in the preparation of the
Bank’s balance sheet at the reporting dates were as follows:
31 December 2005 EUR 1= KM 1.95583 USD 1=KM 1.657905
31 December 2004 EUR 1= KM 1.95583 USD 1=KM 1.437687
Off-balance sheet commitments
In the ordinary course of business, the Bank enters into credit related commitments which are recorded in off-balance
sheet accounts and primarily include guarantees, letters of credit and undrawn loan commitments. Such financial
commitments are recorded in the Bank’s balance sheet if and when they become payable.
Provisions
Provisions for are recognised when the Bank has a present obligation as a result of a past event, and it is probable
that the Bank will be required to settle that obligation. Management Board estimates the provisions based at the best
estimate of expenditure to settle the Bank’s obligation. Provisions are discounted to present value where the effect is
material.
Reclassification
Certain amounts in the previous year financial statements have been reclassified to conform with the current year
presentation.
Regulatory requirements
The Bank is subject to the regulatory requirements of the Federal Banking Agency. These regulations include limits
and other restrictions pertaining to minimum capital adequacy requirements, classification of loans and off balance
sheet commitments and forming allowances to cover credit risk, liquidity, interest rate and foreign currency position.
At year end the Bank was substantially in compliance with all regulatory requirements.
Financial statement
www.raiffeisenbank.ba
109

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
3. PRIHODI OD KAMATA
110 www.raiffeisenbank.ba
2005. 2004.
Stanovništvo 67.468 55.989
Preduzeća 47.305 36.450
Strane banke 14.083 9.412
Domaće banke 109 69
Amortizacija diskonta 1.143 1.686
Ostalo 5.557 2.898
Ukupno 135.665 106.504
4. RASHODI OD KAMATA
2005. 2004.
Stanovništvo 19.639 15.898
Preduzeća 10.610 7.267
Strane banke 16.396 9.904
Domaće banke 4.767 4.839
Ostalo 196 254
Ukupno 51.608 38.162
5. PRIHODI OD NAKNADA I PROVIZIJA
2005. 2004.
Unutrašnji platni promet 18.580 21.741
Transakcije sa stanovništvom 8.036 8.557
Krediti i garancije 3.623 3.553
Konverzije stranih valuta 2.315 2.373
Ostalo 997 176
Ukupno 33.551 36.400

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
3. INTEREST INCOME
2005 2004
Citizens 67,468 55,989
Companies 47,305 36,450
Foreign Banks 14,083 9,412
Domestic Banks 109 69
Amortization of discount 1,143 1,686
Other 5,557 2,898
Total 135,665 106,504
4. INTEREST EXPENSE
2005 2004
Citizens 19,639 15,898
Companies 10,610 7,267
Foreign Banks 16,396 9,904
Domestic Banks 4,767 4,839
Other 196 254
Total 51,608 38,162
5. FEE AND COMMISSION INCOME
2005. 2004.
Domestic payment transactions 18.580 21.741
Transactions with citizens 8.036 8.557
Loans and guarantees 3.623 3.553
FX transactions 2.315 2.373
Other 997 176
Total 33.551 36.400
Financial statement
www.raiffeisenbank.ba
111

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
6. RASHODI OD NAKNADA I PROVIZIJA
112 www.raiffeisenbank.ba
2005 2004
Unutrašnji platni promet 473 599
Korespondentni računi 146 209
Uzeti krediti i ostale bankarske usluge 2,802 4,249
Ukupno 3,421 5,057
7. NETO DOBIT IZ FINANSIJSKOG POSLOVANJA
2005. 2004.
Prihodi od kursnih razlika iz poslovanja 6.317 5.625
Rashodi od kursnih razlika iz poslovanja (506) (487)
Ukupno 5.811 5.138
8. OSTALI PRIHODI IZ POSLOVANJA
2005. 2004.
Prihodi od kamata iz ranijeg perioda 3 1.809
Ostali prihod 640 551
Ukupno 643 2.360
9. NETO PRIHOD OD PRODAJE ULAGANJA
2005. 2004.
Prodaja dionica Raiffeisen osiguranja d.d Sarajevo 3.471 -
Prodaja dionica Euromarket banke AD Podgorica 467 -
Ukupno 3.938 -
Tokom 2005. godine, Banka je prodala svih 6.690 dionica Raiffeisen osiguranja d.d. Sarajevo UNIQA-i International
Beteiligungs-Verwaltungus GmbH. Neto prihod od prodaje naprijed navedenih dionica bio je 3.471 hiljada KM. Osim
toga, 26. aprila 2005. godine Banka je prodala svih 600 dionica Euromarket banke AD Podgorica Novoj Ljubljanskoj
banci d.d. Ljubljana. Neto prihod od prodaje naprijed navedenih dionica bio je 467 hiljada KM. Prodajom kapitalnih
ulaganja Banka je naplatila 7.462 hiljade KM u punom iznosu.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
6. FEE AND COMMISSION EXPENSE
2005 2004
Domestic payment transactions 473 599
Correspondent accounts 146 209
Borrowed funds and other bank services 2,802 4,249
Total 3,421 5,057
7. NET TRADING INCOME
2005 2004
Gains on foreign exchange transactions 6,317 5,625
Losses on foreign exchange transactions (506) (487)
Total 5,811 5,138
8. OTHER OPERATING INCOME
2005 2004
Interest income from previous period 3 1,809
Other income 640 551
Total 643 2,360
9. NET INCOME UPON DISPOSAL OF INVESTMENTS
2005 2004
Sale of shares in Raiffeisen osiguranje d.d Sarajevo 3,471 -
Sale of shares in Euromarket banka AD Podgorica 467 -
Total 3,938 -
During 2005 the Bank has sold all 6,690 shares of Raiffeisen osiguranje d.d. Sarajevo to UNIQA International Beteiligungs-Verwaltungus
GmbH. Net income earned from sale of above-mentioned shares was KM 3,471 thousand. Additionally,
on 26 April 2005 the Bank has sold all 600 shares of Euromarket banka AD Podgorica to Nova Ljubljanska
banka d.d. Ljubljana. Net income earned from sale of above-mentioned shares was KM 467 thousand. Proceeds from
both transactions in total amount of KM 7,462 thousand have been collected in full amount.
Financial statement
www.raiffeisenbank.ba
113

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
10. NAPLAĆENA OTPISANA POTRAŽIVANJA
114 www.raiffeisenbank.ba
2005. 2004.
Glavnica 3.778 4.401
Kamata 2.084 1.645
Naknade 65 99
Ukupno 5.927 6.145
11. ADMINISTRATIVNI TROŠKOVI
2005. 2004.
Troškovi zaposlenih 37.551 32.636
Troškovi usluga 5.472 5.839
Zakupnine 4.832 4.016
Telekomunikacije 3.131 2.852
Premije osiguranja štednih uloga i kredita 3.625 2.938
Troškovi reprezentacije i marketinga 3.037 2.436
Troškovi tekućeg održavanja 2.477 2.096
Materijalni troškovi 2.034 1.629
Premije osiguranja imovine 3.029 2.601
Troškovi energije 643 592
Troškovi konsultanskih usluga 4.823 511
Rashodi po osnovu obračunatih kursnih razlika 272 542
Obrazovanje 377 400
Donacije 408 294
Rashodi osnovnih sredstava 237 190
Ostali administrativni troškovi 3.085 4.896
Ukupno 75.033 64.468
Banka nema druge penzione aranžmane osim državnog penzionog sistema Bosne i Hercegovine. Prema sistemu,
poslodavac je dužan obračunati tekuće doprinose u procentu od bruto plaća i porez na neto plaće, a troškovi
terete bilans uspjeha u periodu u kojem su nastali. Banka nema nikakvih obaveza isplate penzija zaposlenima u
budućnosti.
Prosječan broj zaposlenih u Banci za godine koje su završile na dan 31. decembra 2005. i 2004. bio je 1.161,
odnosno 1.061.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
10. COLLECTED WRITE-OFFS
2005 2004
Principal 3,778 4,401
Interest 2,084 1,645
Fees 65 99
Total 5,927 6,145
11. GENERAL AND ADMINISTRATIVE EXPENSES
2005 2004
Personnel expenses 37,551 32,636
Services 5,472 5,839
Rent 4,832 4,016
Telecommunication expense 3,131 2,852
Deposits insurance premiums 3,625 2,938
Representation and marketing expense 3,037 2,436
Current repairs 2,477 2,096
Material expenses 2,034 1,629
Assets insurance premiums 3,029 2,601
Energy 643 592
Consultancy expenses 4,823 511
Foreign exchange losses 272 542
Education 377 400
Donations 408 294
Disposals of fixed assets 237 190
Other expenses 3,085 4,896
Total 75,033 64,468
The Bank does not have pension arrangements separate from Bosnia and Herzegovina pension system. This system
requires that current contributions by the employer be calculated as a percentage of current gross salary payments
and taxes on net salary; these expenses are charged to the profit and loss statement in the period the related compensation
is earned by the employee.
The average number of personnel employed by the Bank during the years ended 31 December 2005 and 2004 was
1,161 and 1,061, respectively.
Financial statement
www.raiffeisenbank.ba
115

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
12. UMANJENJA VRIJEDNOSTI I REZERVISANJA
116 www.raiffeisenbank.ba
2005. 2004.
Plasmani kod drugih banaka (3) 16
Dati krediti i potraživanja 20.122 18.743
Kupljeni krediti držani do dospijeća (132) 608
Materijalna sredstva (38) 1.068
Kapitalna ulaganja (388) (1.173)
Ostale aktiva 113 96
Rezervisanja 6.216 3.144
Ukupno 25.890 22.502
13. POREZ NA DOBIT
2005. 2004.
Dobit prije poreza na dobit 24.229 21.146
Porezno nepriznati rashodi i
prihodi koji se ne oporezuju
9.392 3.778
Porezna osnovica 33.621 24.924
Obaveza poreza na dobit od 30% 10.086 7.477
Porezna oslobođenja (10.086) (7.477)
Obaveza poreza na dobit - -
Porezna obaveza Banke izračunava se na temelju računovodstvene dobiti, uzimajući u obzir porezno nepriznate
troškove i neoporezive prihode. Stopa poreza na dobit za godine koje su završile 31. decembra 2005. i 2004. bila
je 30%. U skladu sa fiskalnim propisima porezno oslobođenje od poreza na dobit je zasnovano na planiranim
ulaganjima u stalna sredstva u narednoj godini. Porezna oslobođenja na ulaganja u materijalnu imovinu su
kontinuirana.
14. NOVAC I SREDSTVA KOD BANKE
2005. 2004.
Novac u blagajni u domaćoj valuti 27.597 17.923
Novac u blagajni u stranoj valuti 17.055 19.639
Žiro račun u domaćoj valuti kod Centralne banke 29.048 101.102
Potraživanja od banaka u stranoj valuti 16.328 10.262
Čekovi u stranoj valuti 92 85
Ukupno 90.120 149.011

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
12. IMPAIRMENT LOSSES AND PROVISIONS
2005 2004
Placements with banks (3) 16
Loans and receivables 20,122 18,743
Purchased loans (132) 608
Fixed assets (38) 1,068
Equity investments (388) (1,173)
Other assets 113 96
Provisions 6,216 3,144
Total 25,890 22,502
13. INCOME TAX
2005 2004
Profit before income tax 24,229 21,146
Non-deductible expenses and
taxable income relieves
9,392 3,778
Taxable income 33,621 24,924
Income tax liability of 30% 10,086 7,477
Income tax exemption (10,086) (7,477)
Income tax liability - -
Tax liability is based on accounting income taking into the account non-deductible expenses and non-taxable income.
Tax income rate for the years ended 31 December 2005 and 2004 was 30%. According to the fiscal legislation, the
Bank’s exemption from income tax is based on planned investments in fixed assets in the next year. Income tax exemp-
tions for investments in fixed assets are available on continuous basis.
14. CASH AND DUE FROM BANKS
2005 2004
Cash on hand in domestic currency 27,597 17,923
Cash on hand in foreign currency 17,055 19,639
Current account in domestic currency with the Cen-
tral Bank 29,048 101,102
Correspondent accounts with banks in foreign cur-
rency 16,328 10,262
Checks in foreign currency 92 85
Total 90,120 149,011
Financial statement
www.raiffeisenbank.ba
117

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
15. OBAVEZNA REZERVA KOD CENTRALNE BANKE
118 www.raiffeisenbank.ba
2005. 2004.
Obavezna rezerva 338.183 182.955
Ukupno 338.183 182.955
Obavezna rezerva se izračunava na dan 31. decembra 2005. godine odnosno 31. decembra 2004. godine u
visini od 15% odnosno 10% prosječnog iznosa ukupnih depozita i pozajmljenih sredstava u posljednjih deset dana
obračuna obavezne rezerva.
16. PLASMANI KOD DRUGIH BANAKA
Kratkoročni plasmani kod
banaka u slijedećim zemljama:
2005. 2004.
Bosna i Hercegovina 3.024 3.024
Zemlje OECD-a 649.318 579.892
Ukupan bruto iznos plasmana
drugim kreditnim institucijama 652.342 582.916
Umanjeno za rezervisanja za moguće gubitke (13) (16)
Ukupno 652.329 582.900
Kamatna stopa na plasmane u EUR iznosila je 2,33% - 2,40% godišnje odnosno 2,00% - 2,18% godišnje, a na
plasmane u USD od 3,07% - 4,37% godišnje odnosno 1,72% - 2,48% godišnje na dan 31. decembra 2005. godine
odnosno 2004. godine. Kamatna stopa na plasmane u ostalim valutama kretala se od 0,75% - 5,45% godišnje
odnosno 0,65% - 5,22% godišnje tokom 2005. i 2004. godine.
Promjene na rezervisanjima za moguće gubitke po plasmanima kod drugih banaka mogu se prikazati kako slijedi:
2005. 2004.
Stanje na dan 1. januara 16 -
Rezervisanja (3) 16
Stanje na dan 31. decembra 13 16

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
15. OBLIGATORY RESERVE AT CENTRAL BANK
2005 2004
Obligatory reserve 338,183 182,955
Total 338,183 182,955
Minimum obligatory reserve as of 31 December 2005 and 31 December 2004 is calculated in amount of 15%
and 10%, respectively of the average amount of total deposits and the borrowings for each working day during
10 calendar days following the period of maintaining the obligatory reserve.
16. PLACEMENTS WITH OTHER BANKS
Short-term placements with
banks in following countries
2005 2004
Bosnia and Herzegovina 3,024 3,024
OECD countries 649,318 579,892
Placements to other financial institutions, gross 652,342 582,916
Less: Provisions for possible losses for placements (13) (16)
Total 652,329 582,900
The interest rate for placements in EUR was 2.33% – 2.40% p.a. and 2.00% – 2.18% p.a. and for placements
in USD 3.07% – 4.37% p.a. and 1.72% – 2.48% p.a. as at 31 December 2005 and 2004, respectively. Interest
rate on placements in other currencies was 0.75% – 5.45% p.a. and 0.65% – 5.22% p.a. during 2005 and 2004,
respectively.
The movements in the provision for impairment of placements with other banks are summarized as follows:
2005 2004
Balance as at 1 January 16 -
Provisions (3) 16
Balance as at 31 December 13 16
Financial statement
www.raiffeisenbank.ba
119

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
17. DATI KREDITI I POTRAŽIVANJA
120 www.raiffeisenbank.ba
2005. 2004.
Kratkoročni krediti u domaćoj valuti 321.341 301.954
Kratkoročni krediti u stranoj valuti 2.591 2.166
Tekuće dospijeće dugoročnih kredita 301.807 235.794
Ukupno kratkoročni krediti 625.739 539.914
Dugoročni krediti u domaćoj valuti 1.034.394 778.595
Dugoročni krediti u stranoj valuti 37.442 25.869
(Tekuće dospijeće dugoročnih kredita) (301.807) (235.794)
Ukupno dugoročni krediti 770.029 568.670
Ukupno krediti prije rezervisanja za moguće gubitke 1.395.768 1.108.584
Rezervisanja za moguće gubitke (63.770) (50.848)
Ukupno 1.331.998 1.057.736
Svi krediti odobreni su komitentima u Bosni i Hercegovini. Kratkoročni krediti odobreni su na period od 90 do 365
dana. Većina kratkoročnih kredita odobrena je komitentima za obrtna sredstva. Dugoročni krediti odobravani su
uglavnom stanovništvu za stambenu izgradnju i kupovinu automobila.
Promjene na rezervisanjima za moguće gubitke po kreditima dajemo kako slijedi:
2005. 2004.
Stanje na dan 1. januara 50.848 38.265
Povećanje rezervisanja 20.122 18.743
Otpisi (7.200) (6.160)
Stanje na dan 31. decembra 63.770 50.848
Ukupan iznos glavnice po kojoj je suspendovana kamata na dan 31. decembra 2005. i 2004. godine iznosio je
40.268 hiljade KM odnosno 39.007 hiljada KM.
2005. 2004.
Trgovina 327.997 245.689
Građevinska industrija 22.767 24.757
Usluge, finansije, sport, turizam 76.434 75.873
Administrativne i druge javne ustanove 4.209 2.887
Poljoprivreda, šumarstvo, rudarstvo i energetika 59.177 109.355
Transport, PTT, komunikacije 64.116 35.314
Ostalo 86.004 10.816
Stanovništvo 755.064 603.893
Ukupno 1.395.768 1.108.584

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
17. LOANS AND RECEIVABLES
2005 2004
Short-term loans in domestic currency 321,341 301,954
Short-term loans in foreign currency 2,591 2,166
Current portion of long-term loans 301,807 235,794
Total short-term loans 625,739 539,914
Long-term loans in domestic currency 1,034,394 778,595
Long-term loans in foreign currency 37,442 25,869
(Current portion of long-term loans) (301,807) (235,794)
Total long-term loans 770,029 568,670
Total loans before provisions 1,395,768 1,108,584
Provision for impairment (63,770) (50,848)
Total 1,331,998 1,057,736
All loans are placed with customers in Bosnia and Herzegovina. Short-term loans are granted for periods of 30 to
365 days. The majority of short-term loans in domestic currency are granted to clients for working capital financing.
Long-term loans are mostly granted to individuals for housing and vehicle purchases.
The movements in the provision for impairment of loans are summarized as follows:
2005 2004
Balance as at 1 January 50,848 38,265
Provisions charged 20,122 18,743
Write-offs (7,200) (6,160)
Balance as at 31 December 63,770 50,848
Total amount of non-performing loans on which interest was suspended as at 31 December 2005 and 2004 was KM
40,268 thousand and KM 39,007 thousand, respectively.
2005 2004
Trade 327,997 245,689
Construction industry 22,767 24,757
Services, finance, sport, tourism 76,434 75,873
Administrative and other public institutions 4,209 2,887
Agriculture, forestry, mining and energy 59,177 109,355
Transport and telecommunications 64,116 35,314
Other 86,004 10,816
Citizens 755,064 603,893
Total 1,395,768 1,108,584
Financial statement
www.raiffeisenbank.ba
121

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
17. KREDITI IZ SREDSTAVA BANKE (NASTAVAK)
Kamatne stope po kreditima na dan 31. decembra 2005. i 2004. mogu se prikazati kako slijedi:
Domaća valuta
122 www.raiffeisenbank.ba
31. decembar 2005. 31. decembra 2004.
‘000 KM Godišnja kamatna stopa ‘000 KM Godišnja kamatna stopa
Preduzeća 616.622 3.5% - 14% 499.365 3.5% - 14%
Stanovništvo 741.491 3.6% - 11.29% 592.970 3.61% - 16%
Strana valuta
Preduzeća 24.082 6.21% - 12% 5.326 6.21% - 12%
Stanovništvo 13.573 6.55% - 12% 10.923 6.55% - 12%
Ukupno 1.395.768 1.108.584
18. KUPLJENI KREDITI KOJI SE DRŽE DO DOSPIJEĆA
2005. 2004.
Neotplaćeni dio glavnice 2.378 5.730
Neamortizovani diskont (1.661) (3.143)
Rezervisanje za moguće gubitke (670) (1.451)
Ukupno 47 1.136
Banka je sklopila dva kupoprodajna ugovora sa USAID Business Finance koji su realizovani 30. aprila i 12. novembra
2003. godine. Ovi krediti su dati malim i srednjim preduzećima sa promjenljivim kamatnim stopama.
Kretanja diskonta se mogu prikazati kako slijedi:
2005. 2004.
Stanje na dan 1. januara 3.143 4.829
Amortizovani diskont (1.143) (1.686)
Otpisi (339) -
Neamortizovani diskont na dan 31. decembra 1.661 3.143

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
17. LOANS AND RECEIVABLES (CONTINUED)
Interest rates for granted loans as at 31 December 2005 and 2004 are summarized as follows:
Domestic currency
31 December 2005 31 December 2004
‘000 KM Annual
interest rate
‘000 KM Annual interest rate
Companies 616,622 3.5% - 14% 499,365 3.5% - 14%
Citizens 741,491 3.6% - 11.29% 592,970 3.61% - 16%
Foreign currency
Companies 24,082 6.21% - 12% 5,326 6.21% - 12%
Citizens 13,573 6.55% - 12% 10,923 6.55% - 12%
Total 1,395,768 1,108,584
18. PURCHASED LOANS HELD TO MATURITY
2005 2004
Principal amount outstanding 2,378 5,730
Unamortized discount (1,661) (3,143)
Provision for impairment (670) (1,451)
Total 47 1,136
The Bank entered into two Master Loan Sale Agreements with USAID Business Finance, effective 30 April 2003
and 12 November 2003. These loans were granted to small and medium-sized enterprises and entrepreneurs,
with variable interest rates.
The movements in discount are summarized as follows:
2005 2004
Opening balance 3,143 4,829
Amortized discount (1,143) (1,686)
Write-offs (339) -
Unamortized discount as at
31 December 1,661 3,143
Financial statement
www.raiffeisenbank.ba
123

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
18. KUPLJENI KREDITI KOJI SE DRŽE DO DOSPIJEĆA (NASTAVAK)
Kretanja na rezervisanjima za moguće gubitke po kupljenim kreditima se mogu prikazati kako slijedi:
124 www.raiffeisenbank.ba
2005. 2004.
Stanje na dan 1. januara 1.451 1.961
Povećanje rezervisanja - 608
Smanjenje rezervisanja (132) -
Otpisi (649) (1.118)
Stanje na dan 31. decembra 670 1.451
19. KAPITALNA ULAGANJA
Ulaganja u podružnice:
2005. 2004.
Raiffeisen osiguranje d.d., Sarajevo - 2.923
MI Group d.o.o., Sarajevo 1.610 1.610
Raiffeisen brokers d.o.o.,Sarajevo 507 200
Manjinski interes:
Euromarket bank, Podgorica - 600
PIF MI Group d.d. Sarajevo 533 100
Ostalo 22 22
Ukupno ulaganja 2.672 5.455
Rezervisanja za moguće gubitke (188) (576)
Ukupno 2.484 4.879
Tokom 2005, Banka je prodala svih 6.690 dionica Raiffeisen osiguranja d.d. Sarajevo UNIQA-i International
Beteiligungs-Verwaltungus GmbH. Neto prihod od prodaje naprijed navedenih dionica bio je 3.471 hiljada KM.
Osim toga, 26. Aprila 2005. godine Banka je prodala svih 600 dionica Euromarket banke AD Podgorica Novoj
Ljubljanskoj banci d.d. Ljubljana. Neto prihod od prodaje naprijed navedenih dionica bio je 467 hiljada KM.
Ukupni prihodi od ovih transakcija je 7.462 hiljade KM naplaćeni su u punom iznosu.
Promjena na rezervisanjima za moguće gubitke po ulaganjima mogu se prikazati kako slijedi:
2005. 2004.
Stanje na dan 1. januara 576 1.749
Povećanje rezervisanja 95 476
Smanjenje rezervisanja (483) (1.649)
Stanje na dan 31. decembra 188 576

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
18. PURCHASED LOANS HELD TO MATURITY (CONTINUED)
The movements in provision for impairment of purchased loans are summarized as follows:
2005 2004
Balance as at 1 January 1,451 1,961
Provisions charged - 608
Reversal of provisions (132) -
Write – offs (649) (1,118)
Balance as at 31 December 670 1,451
19. EQUITY INVESTMENTS
Investments in subsidiaries:
2005 2004
Raiffeisen osiguranje d.d., Sarajevo - 2,923
MI Group d.o.o., Sarajevo 1,610 1,610
Raiffeisen brokers d.o.o.,Sarajevo 507 200
Investments in minority interest:
Euromarket bank, Podgorica - 600
PIF MI Group d.d. Sarajevo 533 100
Others 22 22
Total investments 2,672 5,455
Provision for impairment (188) (576)
Total 2,484 4,879
During 2005 the Bank has sold all 6,690 shares of Raiffeisen osiguranje d.d. Sarajevo to UNIQA International
Beteiligungs-Verwaltungus GmbH. Net income earned from sale of above-mentioned shares was KM 3,471
thousand. Additionally, on 26 April 2005 the Bank has sold all 600 shares of Euromarket banka AD Podgorica
to Nova Ljubljanska banka d.d. Ljubljana. Net income earned from sale of above-mentioned shares was KM 467
thousand. Proceeds from both transactions in total amount of KM 7,462 thousand have been collected in full amount.
The movements in the provision for impairment of investments are summarized as follows:
2005 2004
Balance as at 1 January 576 1,749
Provisions charged 95 476
Reversal of provisions (483) (1,649)
Balance as at 31 December 188 576
Financial statement
www.raiffeisenbank.ba
125

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
19. KAPITALNA ULAGANJA (NASTAVAK)
Struktura ulaganja prema djelatnosti i zemlji poslovanja dana je kako slijedi:
Preduzeće Djelatnost % vlasništva Zemlja poslovanja
MI Group d.o.o., Sarajevo Investicioni fond 100,00% Bosna i Hercegovina
Raiffeisen Brokers d.o.o., Sarajevo
126 www.raiffeisenbank.ba
Društvo za poslovanje
vrijednosnim papirima 100,00% Bosna i Hercegovina
Bamcard d.o.o Sarajevo Bankarstvo 0,12% Bosna i Hercegovina
Bosna osiguranje d.d. Sarajevo Osiguranje 0,03% Bosna i Hercegovina
Integra BiH Građevinarstvo 3,62% Bosna i Hercegovina
SWIFT Bankarstvo 0,01% Belgija
20. OSTALA IMOVINA
2005. 2004.
Potrazivanja po osnovu spot
transakcija i arbitraža u stranoj valuti 13.812 9.657
Preplata poreza 9.540 8.177
Dati avansi za materijalnu imovinu 2.663 367
Unaprijed plaćeni troškovi 2.596 1.987
Potraživanja za naknade 1.580 1.498
Ostala imovina 6.738 5.834
Ukupno ostala imovina 36.929 27.520
Rezervisanja za moguće gubitke (707) (613)
Ukupno 36.222 26.907
Promjene na rezervisanjima za moguće gubitke po ostaloj aktivi mogu se prikazati kako slijedi:
2005. 2004.
Stanje na dan 1. januara 613 990
Prijenos na dugotrajnu imovinu - (89)
Povećanje rezervisanja 113 96
Otpisi (19) (384)
Stanje na dan 31. decembra 707 613

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
19. EQUITY INVESTMENTS (CONTINUED)
Structure of investments by industry and country of origin as of 31 December 2005 can be summarized as follows:
Company Industry % Held Country of origin
MI Group d.o.o., Sarajevo Investment fund 100.00% Bosnia and Herzegovina
Raiffeisen Brokers d.o.o., Sarajevo Trading with securities 100.00% Bosnia and Herzegovina
Bamcard d.o.o Sarajevo Banking cards 0.12% Bosnia and Herzegovina
Bosna osiguranje d.d. Sarajevo Insurance 0.03% Bosnia and Herzegovina
Integra BiH Construction 3.62% Bosnia and Herzegovina
SWIFT Banking communication 0.01% Belgium
20. OTHER ASSETS
2005 2004
Receivable from spot FX transactions 13,812 9,657
Prepaid taxes 9,540 8,177
Advances for fixed assets 2,663 367
Prepaid expenses 2,596 1,987
Fees receivable 1,580 1,498
Other assets 6,738 5,834
Total other assets 36,929 27,520
Provision for impairment (707) (613)
Total 36,222 26,907
The movements in the provision for impairment of other assets are summarized as follows:
2005 2004
Balance as at 1 January 613 990
Transfer to fixed assets - (89)
Provisions charged 113 96
Write-offs (19) (384)
Balance as at 31 December 707 613
Financial statement
www.raiffeisenbank.ba
127

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
21. NEKRETNINE I POSTROJENJA
Nabavna vrijednost
128 www.raiffeisenbank.ba
Građevine
i zemljište
‘000 KM
Vozila
‘000 KM
Uredska
oprema
‘000 KM
Investicije
u
toku
‘000 KM
Nematerijalna
imovina
‘000 KM
Ukupno
‘000 KM
31. decembar 2004. 16.995 1.726 21.417 4.621 9.258 54.017
Nabavke - - - 13.789 - 13.789
Prijenos sa/na 5.169 677 4.928 (11.113) 339 -
Prijenos na vanbilans (2.306) - - - - (2.306)
Poravnanje sa početnim stanjem (394) - - 394 - -
Otuđenja (235) (164) (1.226) (292) (34) (1.951)
31. decembar 2005. 19.229 2.239 25.119 7.399 9.563 63.549
Amortizacija
31 Decembar 2004. 582 480 9.928 - 5.789 16.779
Amortizacija za 2005. 216 300 3.430 - 1.408 5.354
Otuđenja (5) (85) (975) - (32) (1.097)
31. decembar 2005. 793 695 12.383 - 7.165 21.036
Sadašnja vrijednost:
31. decembar 2005.,
prije rezervisanja za gubitke 18.436 1.544 12.736 7.399 2.398 42.513
Rezervisanja za gubitke
31. decembar 2004. - - 322 2.445 - 2.767
- Povećanje rezervisanja - - 190 461 - 651
- Smanjenje rezervisanja - - - - - -
- Otpisi - - (89) (600) - (689)
- 31. decembar 2005. - - - (2.306) - 2.306
- - 423 - 423
Sadašnja vrijednost:
31. decembar 2005. 18.436 1.544 12.313 7.399 2.398 42.090
Sadašnja vrijednost:
31. decembar 2004. 16.413 1.246 11.167 2.176 3.469 34.471
Na dan 31. decembra 2004. godine u iznosu ukupnih investicija u toku sadržan je iznos od 2.862 hiljada KM koji
se odnosi na početna investiranja u izgradnju poslovne zgrade Banke u Sarajevu. Navedena izgradnja prekinuta
je 2002. godine po nalogu lokalnih vlasti i nakon toga nije nastavljena. Na dan 31. decembra 2002. godine.
Banka je smanjila bruto knjigovodstvenu vrijednost spomenute investicije za 1.431 hiljadu KM, što je prikazano kao
rezervisanje za moguće gubitke. Na dan 31. decembra 2004. godine Banka je napravila dodatna rezervisanja u
iznosu od 1.014 hiljada KM što je ukupno 2.445 hiljade KM. Na dan 31. decembra 2005. godine, naprijed navedena
zgrada je otpisana u iznosu od 2.306 hiljada KM. Nadalje, u januaru 2005. godine, sudski vještak je procijenio
zemljište ispod navedene zgrade u iznosu od 750 hiljada KM i izvršen je prijenos sa investicija u toku na građevine
i zemljište.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
21. PROPERTY AND EQUIPMENT
Cost value
Land and
Buildings
‘000 KM
Vehicles
‘000 KM
Office
equipment
‘000 KM
Construction
in
progress
‘000 KM
Intangible
fixed
assets
‘000 KM
Total
‘000
KM
31 December 2004 16,995 1,726 21,417 4,621 9,258 54,017
Additions - - - 13,789 - 13,789
Transfers from/to 5,169 677 4,928 (11,113) 339 -
Transfer to off-balance (2,306) - - - - (2,306)
Reconciliation with
opening balance (394) - - 394 - -
Disposals (235) (164) (1,226) (292) (34) (1,951)
31 December 2005 19,229 2,239 25,119 7,399 9,563 63,549
Depreciation
31 December 2004 582 480 9,928 - 5,789 16,779
Depreciation in 2005 216 300 3,43 - 1,408 5,354
Disposals (5) (85) (975) - (32) (1,097)
31 December 2005 793 695 12,383 - 7,165 21,036
Net book value:
31 December 2005,
before provision for impairment 18,436 1,544 12,736 7,399 2,398 42,513
Provision for impairment
31 December 2004 - - 322 2,445 - 2,767
- Provisions charged - - 190 461 - 651
- Reversal of provisions - - - - - -
- Write-offs - - (89) (600) - (689)
- 31 December 2005 - - - (2,306) - (2,306)
- - 423 - - 423
Net book value:
31 December 2005 18,436 1,544 12,313 7,399 2,398 42,090
Net book value:
31 December 2004 16,413 1,246 11,167 2,176 3,469 34,471
The total construction-in-progress as of 31 December 2004 included KM 2,862 thousand, which related to the
construction-in-progress of the Banks’ building in Sarajevo. Construction was halted in 2002 at the order of local
municipality and has not been resumed. At December 31, 2002, the Bank decreased gross book value of the
mentioned investment by KM 1,431 thousand, which was shown as a provision for impairment. At December 31,
2004, the Bank has made additional provision for impairment of this investment in amount of KM 1,014 thousand,
which in total amounts to KM 2,445 thousands. As of 31 December 2005 the above-mentioned building was
written off in the total amount of KM 2,306 thousand. Furthermore, the court appraiser has appraised the land
that corresponds to this building in January 2005 for the amount of KM 750 thousand and it was transferred from
investments in progress and recorded under land and buildings.
Financial statement
www.raiffeisenbank.ba
129

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
22. OBAVEZE PREMA DRUGIM BANKAMA
130 www.raiffeisenbank.ba
2005. 2004.
Tekuće dospjeće dugoročnih kredita 114.662 96.626
Dugoročni krediti od stranih banaka 558.489 365.881
Dugoročni krediti od domaćih banaka 2.598 3.632
(Tekuće dospjeće dugoročnih obaveza po kreditima) (114.662) (96.626)
Ukupno dugoročne obaveze po kreditima 446.425 272.887
Tekući računi banaka u domaćoj valuti 71 25
Tekući računi banaka u stranoj valuti 233 197
Ukupno tekući računi 304 222
Kratkoročni depoziti banaka u domaćoj valuti 9.806 874
Kratkoročni depoziti banaka u stranoj valuti 20.640 2.274
Ukupno kratkoročni depoziti 30.446 3.148
Dugoročni depoziti 1.638 62.748
Ukupno 593.475 435.631
Struktura dugoročnih kredita od ino banaka i nebankarskih kreditnih institucija na dan 31. decembra 2005. i
2004. godine je slijedeća:
2005. 2004.
RZB Wien and Raiffeisenlandenbank Karnten 403.010 214.815
Commercbank AG 2.445 3.667
EBRD 55.837 98.483
IFC 45.898 26.007
Kreditanstalt fuer Wiederaufbau 22.400 22.909
OPEC Fund International Development 19.558 -
Oberbank AG 5.868 -
European Investment Bank 3.473 -
Ukupno
558.489
365.881
Kamatna stopa na primljene dugoročne kredite od banaka je po stopi od 2,5% do 5% godišnje odnosno 2% do
6,55% godišnje na dan 31. decembra 2005. i 2004. godine.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
22. AMOUNTS DUE TO BANKS
2005 2004
Current portion of long-term borrowings 114,662 96,626
Long-term borrowings from foreign banks 558,489 365,881
Long-term borrowings from domestic banks 2,598 3,632
(Current portion of long-term borrowings) (114,662) (96,626)
Total long-term borrowings 446,425 272,887
Current accounts in domestic currency 71 25
Current accounts in foreign currency 233 197
Total current accounts 304 222
Short-term deposits in domestic currency 9,806 874
Short-term deposits in foreign currency 20,640 2,274
Total short-term deposits 30,446 3,148
Long-term deposits 1,638 62,748
Total 593,475 435,631
Long-term borrowings from international banks and non-banking financial institutions as at 31 December 2005
and 2004 are as follows:
2005 2004
RZB Wien and Raiffeisenlandenbank Karnten 403,010 214,815
Commercbank AG 2,445 3,667
EBRD 55,837 98,483
IFC 45,898 26,007
Kreditanstalt fuer Wiederaufbau 22,400 22,909
OPEC Fund International Development 19,558 -
Oberbank AG 5,868 -
European Investment Bank 3,473 -
Total 558,489 365,881
Interest rates for long-term borrowings from banks were in the range from 2.5% to 5% per annum and from 2% to
6.55% per annum as of 31 December 2005 and 2004, respectively.
Financial statement
www.raiffeisenbank.ba
131

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
23. SUBORDINIRANI DUG
132 www.raiffeisenbank.ba
2005. 2004.
RZB Wien 52.221 32.271
DEG 9.779 9.779
Ukupno 62.000 42.050
Subordinirani dug od RZB Wien u iznosu od 52.221 hiljade KM odnosno 32.271 hiljada KM na dan 31. decembra
2005. odnosno 2004. godine sastoji se od:
Subordiniranog kredita koji je primljen tokom 2003. godine u ukupnom iznosu od 19.558 hiljada KM (10 miliona
EUR) koji će se vraćati u polugodišnjim ratama počevši od 20. juna 2008. godine do 20. juna 2013. godine. Kamata
je EURIBOR +2,5%.
Dva subordinirana kredita primljena u junu i decembru 2004. godine u ukupnom iznosu od 12.713 hiljada KM
(6.500 hiljada EUR):
• Iznos od 9.779 hiljada KM (EUR 5.000 hiljada). Kredit će se vraćati u polugodišnjim ratama od 20. juna 2009
do 20. juna 2011. Kamatna stopa je EURIBOR +2,4%.
• Iznos od 2.934. hiljade KM (EUR 1.500 hiljada). Kredit će se vraćati u polugodišnjim ratama od 20. decembra
2009 do 20. decembra 2011. Kamatna stopa je EURIBOR+ 2,4%:
Subordiniranog kredita koji je primljen u maju 2005. godine u iznosu od 10.171 hiljada KM (5.2 miliona EUR) koji
će se vraćati u polugodišnjim ratama od 20. marta 2010. godine do 20 marta 2012. Kamatna stopa je EURIBOR+
2,4%.
Subordiniranog kredita koji je primljen u novembru 2005. godine u iznosu od 9.779 hiljada KM (5 miliona EUR) koji
će se vraćati u polugodišnjim ratama od 30. septembra 2010. godine do 30. septembra 2012. Kamatna stopa je
EURIBOR +2,4%.
Iznos od 9.779 hiljada KM (5 miliona EUR) predstavlja subordinirani kredit od DEG-a primljen u 2002. godini. Kredit
treba biti vraćen u četiri polugodišnje rate s početkom 15. novembra 2007. godine. Kamata je EURIBOR +3%.
Pojedinačnim odobrenjima Federalne Agencije za bankarstvo subordinirani dug se može koristiti kao dodatni kapital
za regulatorne svrhe.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
23. SUBORDINATED DEBT
2005. 2004.
RZB Wien 52.221 32.271
DEG 9.779 9.779
Ukupno 62.000 42.050
The subordinated loans from RZB Wien as of December 31, 2005 and 2004 respectively amounting to KM 52,221
thousand and KM 32,271 thousand are comprised of:
One subordinated loans received in 2003 totalling KM 19,558 thousand (EUR 10 million), repayable in semi-annual
instalments from 20 June 2008 until 20 June 2013. The interest rate is EURIBOR + 2.5%.
Two subordinated loans received in June and December 2004, totalling KM 12,713 thousand (EUR 6,500 thousand),
respectively in the amounts of:
• KM 9,779 thousand (EUR 5,000 thousand) repayable in semi-annual instalments starting from 20 June 2009
until 20 June 2011. The interest rate is EURIBOR + 2.4%.
• KM 2,934 thousand (EUR 1,500 thousand).repayable in semi-annual instalments starting from 20 December
2009 until 20 December 2011. The interest rate is EURIBOR + 2.4%.
One subordinated loan received in May 2005 in amount of KM 10,171 thousand (EUR 5.2 millions) repayable in
semi-annual instalments from 20 March 2010 until 20 March 2012. The interest rate is EURIBOR + 2.4%.
One subordinated loan received in November 2005 in amount of KM 9,779 thousand (EUR 5 millions) repayable in
semi-annual instalments from 30 Sept 2010 until 30 Sept 2012. The interest rate is EURIBOR + 2.4%.
The amount of KM 9,779 thousand (EUR 5,000 thousand) presents subordinated loan from DEG received in 2002.
The loan should be repaid in four semi-annual instalments starting 15 November 2007. The interest rate is EURIBOR
+ 3%.
Subject to the approval of the Federal Banking Agency, subordinated debt may be used as additional capital for
regulatory purposes.
Financial statement
www.raiffeisenbank.ba
133

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
24. OBAVEZE PREMA KLIJENTIMA
Depoziti po viđenju:
Stanovništvo:
134 www.raiffeisenbank.ba
2005. 2004.
U KM 154.699 133.823
U stranoj valuti 222.515 197.067
Podzbir 377.214 330.890
Pravne osobe:
U KM 353.933 288.014
U stranoj valuti 113.663 95.335
Podzbir 467.596 383.349
Ukupno depoziti po viđenju 844.810 714.239
Oročeni depoziti:
Stanovništvo:
U KM 73.603 52.223
U stranoj valuti 445.745 352.948
Podzbir 519.348 405.171
Pravne osobe:
U KM 99.085 86.297
U stranoj valuti 163.778 190.633
Podzbir 262.863 276.930
Ukupno oročeni depoziti 782.211 682.101
Ukupno 1.627.021 1.396.340
Kamatna stopa na depozite po viđenju u 2005. i 2004. godini iznosila je 0.75% odnosno 0.50% za depozite po
viđenju u KM te od 0,75% do 1,75% u 2005. godini, a od 0,25% do 1,75% u 2004. godini na depozite po viđenju u
stranoj valuti. Kamatne stope na kratkoročne depozite kretale su se od 0,75% do 3,35% u 2005. godini, te od 1,2%
do 4,2% u 2004. godini. Kamatne stope na dugoročne depozite kretale su se od 4,40% do 6,00% u 2005. godini,
te od 4,60% do 6,20% u 2004. godini.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
24. AMOUNTS DUE TO CUSTOMERS
Demand deposits:
Citizens:
2005 2004
In KM 154,699 133,823
In foreign currencies 222,515 197,067
Subtotal 377,214 330,890
Legal entities:
In KM 353,933 288,014
In foreign currencies 113,663 95,335
Subtotal 467,596 383,349
Total demand deposits 844,810 714,239
Term deposits:
Citizens:
In KM 73,603 52,223
In foreign currencies 445,745 352,948
Subtotal 519,348 405,171
Legal entities:
In KM 99,085 86,297
In foreign currencies 163,778 190,633
Subtotal 262,863 276,930
Total term deposits 782,211 682,101
Total 1,627,021 1,396,340
Demand deposit interest rates during 2005 and 2004 were 0.75% and 0.50%, respectively for demand deposits in
KM and from 0.75% to 1.75% and 0.25% to 1.75%, respectively for demand deposits in foreign currency. Shortterm
deposit interest rates were from 0.75% to 3.35% and from 1.2% to 4.2% during 2005 and 2004, respectively.
Long-term deposit interest rates were from 4.40% to 6.00% and from 4.60% to 6.20% during 2005 and 2004,
respectively.
Financial statement
www.raiffeisenbank.ba
135

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
25. OSTALE OBAVEZE
136 www.raiffeisenbank.ba
2005. 2004.
Obaveze za obračunatu kamatu 5.207 3.996
Obaveze iz deviznog poslovanja 3.961 7.011
Obaveze prema dobavljačima 2.794 4.090
Ostale obaveze 5.278 2.924
Odgođeni prihodi 5.679 -
Obaveze prema dioničarima 9 8
Razlika-komisioni poslovi - 760
Obaveze za zaposlene 3 32
Obaveze za porez 200 53
Prelazni račun 163 1.324
Ukupno 23.294 20.198
26. DIVIDENDE
Dana 27. maja 2005. godine dioničarima je isplaćena dividenda u iznosu od 22.75 KM i 11.47 KM po dionici
(ukupno isplaćena dividenda iznosi 4.538 hiljada KM). U maju 2004. godine isplaćena je dividenda u iznosu od 17
KM po dionici (ukupno 3.049 hiljada KM).
27. PREUZETE I POTENCIJALNE FINANSIJSKE OBAVEZE
U okviru redovnog poslovanja Banka je strana u nekoliko sudskih sporova temeljem povrata sredstava na osnovi
instrumenata osiguranja ili neizmirenih potraživanja po kreditima, koji uključuju kamate i troškove spornih
potraživanja od komitenata banke, kao i drugih banaka. Uprava Banke uvjerena je da neriješeni sporovi na dan 31.
decembra 2005. godine neće imati za posljedicu nikakve značajne gubitke za Banku.
Potencijalne obaveze
2005. 2004.
Plative garancije 72.223 53.003
Činidbene garancije 111.955 66.851
Akreditivi 35.301 28.813
Dati avali 2.870 4.466
Ukupno potencijalne obaveze 222.349 153.133
Preuzete obaveze
Neiskorišteni odobreni krediti 91.680 59.461
Okvirni ugovori 211.051 162.338
Ukupno preuzete obaveze 302.695 221.799
Ukupno potencijalne i preuzete obaveze
525.044 374.932

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
25. OTHER LIABILITIES
2005 2004
Interest liabilities 5,207 3,996
Liabilities from spot FX transactions 3,961 7,011
Liabilities to vendors 2,794 4,090
Other liabilities 5,278 2,924
Deferred income 5,679 -
Liabilities to shareholders 9 8
Difference – managed funds - 760
Liabilities to employees 3 32
Tax liabilities 200 53
Suspense account 163 1,324
Total 23,294 20,198
26. DIVIDENDS
On 27 May 2005, a dividend of KM 22.75 and KM 11.47 per share (total dividend KM 4,538 thousand) was paid to
shareholders. In May 2004, the dividend paid was KM 17 per share (total dividend KM 3,049 thousand).
27. FINANCIAL COMMITMENTS AND CONTINGENCIES
In the ordinary course of business, the Bank has been involved in a number of legal proceedings to recover collateral
or outstanding credit balances, as well as related interest and expenses from defaulted credit customers and interbank
counterparts. The management of the Bank believe that any legal proceedings pending as at 31 December 2005 will
not result in material loss to the Bank.
Contingent liabilities
2005 2004
Payment guarantees 72,223 53,003
Performance guarantees 111,955 66,851
Letters of credit 35,301 28,813
Advances 2,870 4,466
Total contingent liabilities 222,349 153,133
Commitments
Unused portion of overdraft loans 91,680 59,461
Frame agreements 211,015 162,338
Total commitments 302,695 221,799
Total contingent liabilities and commitments 525,044 374,932
Financial statement
www.raiffeisenbank.ba
137

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
28. REZERVISANJA
Tokom svog poslovanja, Banka preuzima i kreditne obaveze koje se vode na računima u vanbilansnoj evidenciji, a
koje se odnose na garancije, akreditive i neiskorišteni dio odobrenih kredita. Rezervisanja za preuzete obaveze se
priznaju kad Banka ima sadašnju obavezu kao rezultat prošlih događaja i kada je vjerovatno da će Banka morati
izmirit tu obavezu. Uprava Banke pravi procjenu rezervisanja u poređenju s potencijalnim troškom za Banku u
slučauju izmirenja ovih obaveza.
Promjene u rezervisanjima za potencijalne i preuzete finansijske obaveze:
138 www.raiffeisenbank.ba
2005. 2004.
Stanje na dan 1. januara 12.023 8.879
Povećanje rezervisanja za godinu 6.216 3.144
Stanje na dan 31. decembra
29. TRANSAKCIJE S POVEZANIM STRANAMA
Prema definiciji iz MRS-a 24, povezane strane su strane koje predstavljaju:
18.239 12.023
a. društva koja direktno ili indirektno putem jednog ili više posrednika, kontrolišu izvještajno društvo ili su pod njegovom
kontrolom, odnosno koja izvještajno društvo kontroliše zajedno s drugim subjektima (što uključuje maticu,
ovisne subjekte i sestrinska društva);
b. pridružena lica – društva u kojima Banka ima značajan utjecaj a koja nisu ni povezano lice, niti zajedničko
ulaganje investitora;
c. fizičke osobe koje direktno ili indirektno imaju pravo glasa u Banci koje im omogućava značajan uticaj na Banku,
kao i bilo koji drugi subjekt za koji se očekuje da će uticati ili biti pod uticajem povezane osobe u poslovanju s
Bankom;
d. rukovodioci na ključnim položajima, odnosno osobe koje imaju ovlaštenja i odgovornosti za planiranje,
usmjeravanje i kontrolisanje aktivnosti Banke, uključujući direktore i službene osobe Banke i članove njihovih užih
obitelji; i
e. društva u kojima bilo koja osoba navedena pod (c) ili (d) ima značajan interes u glasačkim pravima
ili koje je direktno ili indirektno u vlasništvu navedenih osoba, odnosno u kojima iste mogu imati
značajan uticaj. To uključuje društva u vlasništvu direktora ili većinskih dioničara Banke, kao i preduzetnike
čiji rukovoditelji na ključnim položajima su istovremeno na istim ili sličnim položajima u Banci.
Prilikom razmatranja svake moguće transakcije s povezanom stranom pozornost je usmjerena na suštinu odnosa, a
ne samo na pravni oblik.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
28. PROVISIONS
In the ordinary course of business, the Bank enters into credit related commitments which are recorded in off-balance
sheet accounts and primarily include guarantees, letters of credit and undrawn loan commitments. Provisions for
contingent liabilities are recognised when the Bank has a present obligation as a result of a past event, and it is
probable that the Bank will be required to settle that obligation. Management Board estimates the provisions based
at the best estimate of expenditure to settle the Bank’s obligation.
Movements in provision for contingent liabilities and commitments is as follows:
2005 2004
Balance as at 1 January 12,023 8,879
Provisions charged for the year 6,216 3,144
Balance as at 31 December
29. RELATED-PARTY TRANSACTIONS
Related parties, as defined by IAS 24, are those counter parties that represent:
18,239 12,023
a. enterprises that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are
under common control with, the reporting enterprise. (This includes holding companies, subsidiaries and fellow
subsidiaries);
b. associates – enterprises in which the Bank has significant influence and which is neither a subsidiary nor a joint
venture of the investor;
c. individuals owning, directly or indirectly, an interest in the voting power of the Bank that gives them significant
influence over the Bank, and anyone expected to influence, or be influenced by, that person in their dealings with
the Bank;
d. key management personnel, that is, those persons having authority and responsibility for planning, directing and
controlling the activities of the Bank, including directors and officers of the Bank and close members of the families
of such individuals; and
e. enterprises in which a substantial interest in the voting power is owned, directly or indirectly, by any person
described in (c) or (d) or over which such a person is able to exercise significant influence. This includes enterprises
owned by directors or major shareholders of the Bank and enterprises that have a member of key management
in common with the Bank.
In considering each possible related party relationship, attention is directed to the substance of the relationship, and
not merely the legal form.
Financial statement
www.raiffeisenbank.ba
139

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
29. TRANSAKCIJE S POVEZANIM STRANAMA (NASTAVAK)
140 www.raiffeisenbank.ba
2005. 2004.
Plasmani kod Raiffeisen Zentralbank Osterreich AG 33.249 17.798
Krediti dati Raiffeisen Brokers d.o.o. Sarajevo 391 426
Krediti dati Raiffeisen osiguranje d.d. Sarajevo - 2.044
33.640 20.268
Uzeti krediti i subordinirani dug od Raiffeisen Zentralbank Osterreich AG, Vienna 471.855 284.484
Sredstva Raiffeisen Zentralbank Osterreich AG, Vienna na racunima Banke 19.561 3
491.416 284.487
2005. 2004.
Kamata i slični prihodi Raiffeisen Zentralbank Osterreich AG 645 283
Kamata i slični prihodi Raiffeisen Brokers d.o.o. Sarajevo 21 17
Kamata i slični prihodi Raiffeisen osiguranje d.d. Sarajevo - 20
Kamata i slični prihodi MI Group d.o.o. DUF Sarajevo - 13
Prihod od naknada i provizija Raiffeisen Brokers d.o.o. Sarajevo 214 96
Prihod od naknada i provizija Raiffeisen Zentralbank Osterreich AG 34 4
Prihod od naknada i provizija Raiffeisen osiguranje d.d. Sarajevo 19 24
Prihod od naknada i provizija MI Group d.o.o. DUF 1 4
Prihod od zakupa Raiffeisen osiguranje d.d. Sarajevo 10 -
Neto prihod od prodaje ulaganja Raiffeisen osiguranja d.d Sarajevo 3.471 -
Kamata i slični troškovi Raiffeisen Zentralbank Osterreich AG
4.415 461
15.515 9.374
Kamata i slični troškovi Raiffeisen osiguranje d.d. Sarajevo 413 146
Troškovi naknada i provizija Raiffeisen Zentralbank Osterreich AG 327 1.158
Troškovi naknada i provizija MI Group d.o.o. DUF Sarajevo 1 -
Troškovi konsultanskih usluga Raiffeisen International Bank Holding AG 2.006 28
Troškovi konsultanskih usluga Raiffeisen Zentralbank Osterreich AG 15 1.186
Troškovi konsultanskih usluga Raiffeisen Group IT 129 -
Ostali troškovi Raiffeisen International Bank Holding AG - 1
Ostali troškovi Raiffeisen Group IT 74 234
18.480 12.127
Tokom redovnog poslovanja ostvareno je nekoliko bankarskih transakcija s povezanim stranama. Te su transakcije
obavljene pod komercijalnim uslovima i rokovima, te uz primjenu tržišnih stopa.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
29. RELATED-PARTY TRANSACTIONS (CONTINUED)
2005 2004
Placements Raiffeisen Zentralbank Osterreich AG 33,249 17,798
Loans Raiffeisen Brokers d.o.o. Sarajevo 391 426
Loans Raiffeisen osiguranje d.d. Sarajevo - 2,044
33,640 20,268
Borrowings and subordinated debt Raiffeisen Zentralbank Osterreich AG, Vienna 471,855 284,484
Due to banks Raiffeisen Zentralbank Osterreich AG, Vienna 19,561 3
491,416 284,487
2005 2004
Interest and similar income Raiffeisen Zentralbank Osterreich AG 645 283
Interest and similar income Raiffeisen Brokers d.o.o. Sarajevo 21 17
Interest and similar income Raiffeisen osiguranje d.d. Sarajevo - 20
Interest and similar income MI Group d.o.o. DUF Sarajevo - 13
Fee and commission income Raiffeisen Brokers d.o.o. Sarajevo 214 96
Fee and commission income Raiffeisen Zentralbank Osterreich AG 34 4
Fee and commission income Raiffeisen osiguranje d.d. Sarajevo 19 24
Fee and commission income MI Group d.o.o. DUF 1 4
Income from rent Raiffeisen osiguranje d.d. Sarajevo 10 -
Net income from disposal of investments Raiffeisen osiguranje d.d Sarajevo 3,471 -
4,415 461
Interest and similar expense Raiffeisen Zentralbank Osterreich AG 15,515 9,374
Interest and similar expense Raiffeisen osiguranje d.d. Sarajevo 413 146
Fee and commission expense Raiffeisen Zentralbank Osterreich AG 327 1,158
Fee and commission expense MI Group d.o.o. DUF Sarajevo 1 -
Consulting expenses Raiffeisen International Bank Holding AG 2,006 28
Consulting expenses Raiffeisen Zentralbank Osterreich AG 15 1,186
Consulting expenses Raiffeisen Group IT 129 -
Other expenses Raiffeisen International Bank Holding AG - 1
Other expenses Raiffeisen Group IT 74 234
18,480 12,127
A number of banking transactions are entered into with related parties in the normal course of business. These
transactions were carried out on commercial terms and conditions and at market rates.
Financial statement
www.raiffeisenbank.ba
141

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
29. TRANSAKCIJE S POVEZANIM STRANAMA (NASTAVAK)
Naknade direktorima i ostalim članovima menadžmenta :
142 www.raiffeisenbank.ba
2005. 2004.
Naknade direktorima i ostalom menadžmentu 3.100 2.444
Porezi i doprinosi na naknade 1.925 1.578
Bonusi Upravnom odboru – Obračunati troškovi 40 -
Bonusi Upravnom odboru – Obračunati troškovi poreza na
bonuse (50%) 20 -

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
29. RELATED-PARTY TRANSACTIONS (CONTINUED)
The remuneration of directors and other members of key management were as follows:
2005 2004
Compensations for directors and other key management 3,100 2,444
Taxes and contributions on Compensations 1,925 1,578
Bonuses to Management board – Accrued expenses 40 -
Bonuses to Management board –
Accrued tax expenses for bonuses (50%) 20 -
Financial statement
www.raiffeisenbank.ba
143

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
30. PROCJENA FER VRIJEDNOSTI FINANSIJSKE IMOVINE I FINANSIJSKIH OBAVEZA
Fer vrijednost finansijskog instrumenta je iznos po kojem se sredstvo može razmijeniti ili obaveza podmiriti između
obaviještenih i spremnih strana u transakciji pred nagodbom. Fer vrijednost se temelji na kotiranim tržišnim cijenama
ako su dostupne. Međutim, tržišne cijene za značajan dio finansijskih instrumenata Banke nisu dostupne. U tim
okolnostima, fer vrijednost se procjenjuje primjenom modela diskontiranog novčanog toka ili drugih odgovarajućih
tehnika za utvrđivanje cijena. Promjene u pretpostavkama na kojima se temelje procjene, uključujući diskontne stope
i procijenjene buduće novčane tokove, značajno utiču na procjene. Iz tog razloga, procijenjene fer tržišne vrijednosti
ne moraju se nužno realizirati prodajom finansijskog instrumenta u sadašnjem trenutku.
Prema mišljenju Uprave Banke, fer vrijednost finansijske imovine i finansijskih obaveza Banke ne razlikuje se značajno
od iznosa iskazanih na dan 31. decembra 2005. i 31. decembra 2004. U procjeni fer vrijednosti finansijskih
instrumenata Grupe korištene su sljedeće metode i pretpostavke:
(a) Novac i sredstva kod Centralne banke
Knjigovodstveni iznosi novca i sredstava kod Centralne banke općenito su približni njihovim fer vrijednostima.
(b) Potraživanja od drugih banaka
Procijenjena fer vrijednost potraživanja od drugih banaka koja dospijevaju u roku od najviše 180 dana približne
su njihovim knjigovodstvenim iznosima. Fer vrijednost drugih potraživanja od banaka procjenjuje se na temelju
analize diskontiranog novčanog toka primjenom kamatnih stopa koje se trenutno nude za ulaganja pod sličnim
uvjetima (tržišne stope usklađene za kreditni rizik). Fer vrijednost potraživanja koja nije moguće naplatiti redovnim
putem procjenjuje se na temelju analize diskontiranog novčanog toka za predmetni instrument osiguranja. Prilikom
izračunavanja fer vrijednosti, ne uzima se u obzir ispravka vrijednosti.
(c) Krediti i avansi klijentima
Fer vrijednost kredita s varijabilnim prinosom a čija cijena se redovno preispituje i kod kojih nisu zapažene nikakve
značajne promjene u kreditnom riziku uglavnom su približne njihovim knjigovodstvenim iznosima. Fer vrijednost
kredita s fiksnom kamatnom stopom procjenjuje se na temelju analize diskontiranog novčanog toka primjenom
trenutno važećih kamatnih stopa na kredite na koje se primjenjuju slični uvjeti ili koji imaju slična kreditna obilježja.
Fer vrijednost kredita klijentima koji ne otplaćuju svoje obaveze procjenjuje se na temelju analize diskontiranog
novčanog toka ili procijenjene vrijednosti instrumenta osiguranja za predmetni kredit. Krediti s fiksnom kamatnom
stopom predstavljaju samo dio ukupnog knjigovodstvenog iznosa, te je stoga fer vrijednost ukupnih kredita i avansa
klijentima približna knjigovodstvenim iznosima na datum bilansa stanja.
(d) Obaveze prema drugim bankama i klijentima
Fer vrijednost oročenih depozita koji dospijevaju na poziv predstavlja knjigovodstveni iznos obaveze plative na
datum bilansa stanja. Fer vrijednost oročenih depozita s promjenjivom kamatnom stopom približna je knjigovodstvenom
iznosu na datum bilansa stanja. Fer vrijednost depozita s fiksnom kamatnom stopom procjenjuje se diskontiranjem
budućih novčanih tokova primjenom kamatnih stopa koje se trenutno primjenjuju na depozite sa sličnim
preostalim periodom do dospijeća.
144 www.raiffeisenbank.ba

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
30. ESTIMATED FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
Fair value of financial instruments is the amount for which an asset could be exchanged, or a liability settled, between
knowledgeable, willing parties in an arm’s-length transaction. Where available, fair value is based on quoted
market prices. However, no readily available market prices exist for a significant portion of the Bank’s financial
instruments. In circumstances where the quoted market prices are not readily available, the fair value is estimated
using discounted cash flow models or other pricing techniques as appropriate. Changes in underlying assumptions,
including discount rates and estimated future cash flows, significantly affect the estimates. Therefore, the calculated
fair market estimates may not be realisable in a current sale of the financial instrument.
It is the opinion of the management of the Bank that the fair value of the Bank financial assets and liabilities are
not materially different from the amounts stated in the balance sheets as at 31 December 2005 and 31 December
2004. In estimating the fair value of the Bank’s financial instruments, the following methods and assumptions were
used.
(a) Cash balances with the Central bank
The carrying values of cash and balances with the Central bank are generally deemed to approximate their fair
value.
(b) Due from banks
The estimated fair value of amounts due from banks that mature in 180 days or less approximates their carrying
amounts. The fair value of other amounts due from banks is estimated based upon discounted cash flow analyses
using interest rates currently offered for investments with similar terms (market rates adjusted to reflect credit risk).
The fair value of non-performing amounts due from banks is estimated using a discounted cash flow analysis or
the appraised value of the underlying collateral. Allowances are not taken into consideration when calculating fair
values.
(c) Loans and advances to customers
The fair value of variable yield loans that regularly reprice, with no significant change in credit risk, generally
approximates their carrying value. The fair value of loans at fixed interest rates is estimated using discounted cash
flow analyses, based upon interest rates currently offered for loans with similar terms to borrowers of similar credit
quality. The fair value of non-performing loans to customers is estimated using a discounted cash flow analysis or the
appraised value of the underlying collateral, where available. Loans at fixed interest rates represent only a fraction of
the total carrying value and hence the fair value of total loans and advances to customers approximates the carrying
values as at the balance sheet date.
(d) Amounts due to banks and customers
The fair value of term deposits payable on demand represents the carrying value of amounts payable on demand as
at the balance sheet date. The fair value of term deposits at variable interest rates approximates their carrying values
as at the balance sheet date. The fair value of deposits at fixed interest rates is estimated by discounting their future
cash flows using rates currently offered for deposits of similar remaining maturities.
Financial statement
www.raiffeisenbank.ba
145

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
31. KOMISIONI POSLOVI
Sredstva kojima Banka upravlja kao povjerenik za i u ime trećih lica, ne predstavljaju sredstva Banke, pa se s toga vode
odvojeno od imovine banke. Za ove usluge banka naplaćuje proviziju u iznosu od 1% od ukupno plasiranog novca.
Obaveze
146 www.raiffeisenbank.ba
2005. 2004.
Stanovništvo 1.241 1.650
Vlada 5.105 5.408
Preduzeća 6.827 5.275
Ostali 7.552 11.409
Ukupno 20.725 23.742
Imovina
Krediti dati preduzećima 13.131 15.502
Krediti dati stanovništvu 7.594 7.480
Ukupno 20.725 22.982
Obaveze prema kreditorima – komisioni poslovi (Napomena 25) - 760
Banka ne daje nikakve garancije za komisione poslove.

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
31. MANAGED FUNDS
The Bank manages assets on behalf of third parties. These assets are recorded separately from the Bank’s assets. For
its services, the Bank charges a fee amounting to 1% of the total amount contributed.
Liabilities
2005 2004
Citizens 1,241 1,650
Government 5,105 5,408
Companies 6,827 5,275
Other 7,552 11,409
Total 20,725 23,742
Assets
Loans to companies 13,131 15,502
Loans to citizens 7,594 7,480
Total 20,725 22,982
Amounts due to original creditors – managed funds (Note 25) - 760
The Bank has not issued any guarantees related to managed funds.
Financial statement
www.raiffeisenbank.ba
147

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
32. VALUTNI RIZIK
Banka je izložena učincima promjena u valutnim kursevima na svoj finansijski položaj i novčane tokove.
Niže u tablici analizirane su osnovne valute po kojima je Banka izložena riziku. Ostale valute obuhvaćene su u okviru
stavke “Ostale valute”. Banka prati svoj valutni položaj u odnosu na udovoljavanje regulatornim zahtjevima koje je
Agencija za bankarstvo Federacije Bosne i Hercegovine definirala kao limite otvorenih pozicija. Banka nastoji sučeliti
svoju imovinu i obaveze u stranim valutama kako bi izbjegla izloženost valutnom riziku.
‘000 KM KM EUR USD
SREDSTVA
148 www.raiffeisenbank.ba
Ostale
valute
Rezervisanja
Ukupno
Novac i sredstva kod banaka 56.644 24.229 2.099 7.148 - 90.120
Obavezna rezerva kod
Centralne banke BiH 338.183 - - - - 338.183
Plasmani kod drugih banaka 3.003 483.110 156.950 9.279 (13) 652.329
Dati krediti 1.355.734 39.684 346 4 (63.770) 1.331.998
Kupljeni krediti koji se
drže do dospijeća 717 - - - (670) 47
Kapitalna ulaganja 2.665 7 - - (188) 2.484
Ostala imovina 21.276 11.443 1.079 3.131 (707) 36.222
Nekretnine i oprema 42.513 - - - (423) 42.090
Ukupna imovia (1) 1.820.735 558.473 160.474 19.562 (65.771) 2.493.473
OBAVEZE
Obaveze prema drugim bankama 11.012 582.324 125 14 - 593.475
Obaveze prema klijentima 681.319 770.184 158.467 17.051 - 1.627.021
Rezervisanja - - - - 18.239 18.239
Ostale obaveze 13.668 5.248 2.259 2.119 - 23.294
Subordinirani dug - 62.000 - - - 62.000
Ukupne obaveze (2) 705.999 1.419.756 160.851 19.184 18.239 2.324.029
Neto bilans stanja na dan
31. decembra 2005 (1) - (2) 1.114.736 (861.283) (377) 378 (84.010) 169.444
Ukupna sredstva na dan
31. decembra 2004. (3) 1.445.163 440.373 193.867 16.863 (56.271) 2.039.995
Ukupne obaveze na dan
31. decembra 2004. (4) 572.094 1.113.624 192.340 16.161 12.023 1.906.242
UKUPNI NETO BILANS STANJA NA DAN
31. DECEMBRA 2004. (3) – (4) 873.069 (673.251) 1.527 702 (68.294) 133.753

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
32. FOREIGN CURRENCY RISK
The Bank takes on exposure to effects of fluctuations in the prevailing foreign currency exchange rates on its financial
position and cash flows.
The table below provides an analysis of the Bank’s main currency exposures. The remaining currencies are shown
within ‘Other currencies.’ The Bank monitors its foreign exchange (FX) position for compliance with the regulatory
requirements of the Federal Banking Agency established in respect of limits on open positions. The Bank seeks to
match assets and liabilities denominated in foreign currencies to avoid foreign currency exposures.
‘000 KM KM EUR USD
ASSETS
Other
currencies
Provisions
Total
Cash and due from banks 56,644 24,229 2,099 7,148 - 90,120
Due from the Central Bank 338,183 - - - - 338,183
Placements with other banks 3,003 483,110 156,950 9,279 (13) 652,329
Loans originated by the bank 1,355,734 39,684 346 4 (63,770) 1,331,998
Purchased loans 717 - - - (670) 47
Investments 2,665 7 - - (188) 2,484
Other assets 21,276 11,443 1,079 3,131 (707) 36,222
Fixed and intangible assets 42,513 - - - (423) 42,090
Total assets (1) 1,820,735 558,473 160,474 19,562 (65,771) 2,493,473
LIABILITIES
Due to other banks 11,012 582,324 125 14 - 593,475
Due to customers 681,319 770,184 158,467 17,051 - 1,627,021
Provisions - - - - 18,239 18,239
Other liabilities 13,668 5,248 2,259 2,119 - 23,294
Subordinated debt - 62,000 - - - 62,000
Total liabilities (2) 705,999 1,419,756 160,851 19,184 18,239 2,324,029
Balance as at
31 December 2005, net (1) - (2) 1,114,736 (861,283) (377) 378 (84,010) 169,444
Total assets as of
31 December 2004 (3) 1,445,163 440,373 193,867 16,863 (56,271) 2,039,995
Total liabilities as of
31 December 2004 (4) 572,094 1,113,624 192,340 16,161 12,023 1,906,242
TOTAL BALANCE AS AT
31 DECEMBER 2004, NET (3) – (4) 873,069 (673,251) 1,527 702 (68,294) 133,753
Financial statement
www.raiffeisenbank.ba
149

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
33. KAMATNI RIZIK
Kamatni rizik je rizik promjene vrijednosti finansijskog instrumenta uslijed promjena kamatnih stopa na tržištu. Stoga
razdoblje u kojem je kamatna stopa za finansijski instrument nepromjenjiva ukazuje na izloženost kamatnom riziku.
U idućoj tablici nalaze se podaci o izloženosti Banke kamatnom riziku, koja je analizirana ili na temelju ugovornog
dospijeća finansijskog instrumenta, ili, kod instrumenata čija kamatna stopa se mijenja prije dospijeća, u razdoblju
do idućeg datuma promjene kamatne stope. Politika Banke je da svojom izloženošću promjenama u neto prihodima
od kamata koji proizlaze iz promjena kamatnih stopa upravlja kontrolisanim neusklađivanjem datuma promjene
cijena u bilansu stanja. Imovina i obaveze za koje ne postoji ugovoreni datum dospijeća ili na koje se ne obračunava
kamata svrstani su u okviru kategorije “Nedefinisano dospijeće”.
‘000 KM
AKTIVA
150 www.raiffeisenbank.ba
0-1
mjesec
1 do 6
mjeseci
6 do 12
mjeseci
Preko 1
godine
Nedefinirano
dospijeće
Rezervisanja
Ukupno
Novac i sredstva kod banaka 16.328 - - - 73.792 - 90.120
Obavezna rezerva Centralne
banke - - - - 338.183 - 338.183
Plasmani kod drugih banaka 583.048 68.798 - 496 - (13) 652.329
Dati krediti I potraživanja 80.264 269.732 267.186 778.586 - (63.770) 1.331.998
Kupljeni krediti koji se
drže do dospijeća - - - 717 - (670) 47
Kapitalna ulaganja - - - - 2.672 (188) 2.484
Ostala imovina - - - - 36.929 (707) 36.222
Nekretnine i oprema - - - 42.513 (423) 42.090
UKUPNA IMOVINA (1) 679.640 338.530 267.186 779.799 494.089 (65.771) 2.493.473
OBAVEZE
Obaveze prema drugim
bankama 27.505 50.403 58.935 446.424 10.208 - 593.475
Obaveze prema klijentima 921.113 226.855 196.192 228.053 54.808 - 1.627.021
Rezervisanja - - - - - 18.239 18.239
Ostale obaveze 1.698 3.504 - - 18.092 - 23.294
Subordinirani dug - - - 62.000 - - 62.000
UKUPNE OBAVEZE (2) 950.316 280.762 255.127 736.477 83.108 18.239 2.324.029
Neusklađenost bilansa na dan
31. decembra 2005. (1) - (2) (270.676) 57.768 12.059 43.322 410.981 (84.010) 169.444
Ukupna imovina na dan
31. decembra 2004. godine 654.084 237.015 240.338 572.912 391.917 (56.271) 2.039.995
Ukupne obaveze na dan
31. decembra 2004. godine 885.681 216.081 275.038 459.305 58.114 12.023 1.906.242
Neusklađenost bilanca na dan
31. decembra 2004. (231.597) 20.934 (34.700) 113.607 333.803 (68.294) 133.753

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
33. INTEREST RATE RISK
Financial statement
Interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates.
The length of time for which the rate of interest is fixed on a financial instrument, therefore, indicates to what extent it
is exposed to interest rate risk. The table below provides information on the extent of the Bank’s interest rate exposure
based either on the contractual maturity date of its financial instruments or, in the case of instruments that reprice to
a market rate of interest before maturity, the next repricing date. It is the policy of the Bank to manage the exposure
to fluctuations in net interest income arising from changes in interest rates by the degree of repricing mismatch in the
balance sheet. Those assets and liabilities that do not have contractual maturity date or are not interest bearing are
banked in ‘maturity undefined’ category.
‘000 KM 0-1 month
ASSETS
1 to 6
months
6 to 12
months
Over 1
year
Non
interest
bearing
Provision
for impairment
Total
Cash and due from banks 16,328 - - - 73,792 - 90,120
Due from the Central Bank - - - - 338,183 - 338,183
Placements with other banks 583,048 68,798 - 496 - (13) 652,329
Loans originated by the Bank 80,264 269,732 267,186 778,586 - (63,770) 1,331,998
Purchased loans - - - 717 - (670) 47
Investments - - - - 2,672 (188) 2,484
Other assets - - - - 36,929 (707) 36,222
Fixed and intangible
assets - - - 42,513 (423) 42,090
TOTAL ASSETS (1) 679,640 338,530 267,186 779,799 494,089 (65,771) 2,493,473
LIABILITIES
Due to other banks 27,505 50,403 58,935 446,424 10,208 - 593,475
Due to customers 921,113 226,855 196,192 228,053 54,808 - 1,627,021
Provisions - - - - - 18,239 18,239
Other liabilities 1,698 3,504 - - 18,092 - 23,294
Subordinated debt - - - 62,000 - - 62,000
TOTAL LIABILITIES (2) 950,316 280,762 255,127 736,477 83,108 18,239 2,324,029
Mismatch as of 31
December 2005 (1) - (2) (270,676) 57,768 12,059 43,322 410,981 (84,010) 169,444
Total assets as at
31 December 2004 654,084 237,015 240,338 572,912 391,917 (56,271) 2,039,995
Total liabilities as at
31 December 2004 885,681 216,081 275,038 459,305 58,114 12,023 1,906,242
Balance mismatch as of
31 December 2004 (231,597) 20,934 (34,700) 113,607 333,803 (68,294) 133,753
www.raiffeisenbank.ba
151

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
34. PROSJEČNE KAMATNE STOPE
Prosječne kamatne stope su izračunate kao ponderisani prosjek za svaku kategoriju imovine i obaveza:
31. decembar 2005. EUR USD Ostalo KM
IMOVINA
Potraživanja od Centralne banke 1,59%
Plasmani kod banaka 2,32% 2,33% - 3,68% 0,65%-3,24% -
Krediti 3,00% - 12,00% - - 3,00% – 14,00%
OBAVEZE
Obaveze prema bankama Euribor + 1,98% - - -
Depoziti po viđenju 0,30% 0,25% 0% - 1,75% 0,30%
Oročeni depoziti 1,00% - 6,00% 0,75%-1,40% 0% - 3,35% 1,00% - 6,00%
Subordinirani dug Euribor + 2,4%
31. decembar 2004. EUR USD Ostalo KM
IMOVINA
Potraživanja od Centralne
banke - - - 1,47%
Plasmani kod banaka 0,9% - 2,06% 0,9% - 1,25% 0,19% - 3% -
Krediti 6,21% - 12% 8,90% - 3,5% - 16%
OBAVEZE
Obaveze prema bankama 2,17% - 4,3% - - -
Depoziti po viđenju 0% - 0,75% 0,25% - 0,75% 0% - 1,75% 0,50%
Oročeni depoziti 1,2% - 6,2% 0,35% - 1% 0,2% - 3,35% 1% - 6,2%
Subordinirani dug
152 www.raiffeisenbank.ba
Euribor + 2,15%
Euribor + 3% - - -

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
34. AVERAGE INTEREST RATES
Average interest rates are calculated as weighted average for each category of interest bearing assets and
liabilities:
31 December 2005 EUR USD Other KM
ASSETS
Due from Central Bank 1.59%
Placements with other banks 2.32% 2.33% - 3.68% 0.65%-3.24% -
Loans 3.00% - 12.00% - - 3.00% – 14.00%
LIABILITIES
Due to other banks Euribor + 1.98% - - -
Demand deposits 0.30% 0.25% 0% - 1.75% 0.30%
Term deposits 1.00% - 6.00% 0.75%-1.40% 0% - 3.35% 1.00% - 6.00%
Subordinated debt Euribor + 2.4%
31 December 2004 EUR USD Other KM
ASSETS
Due from Central Bank - - - 1.47%
Placements with other banks 0.9% - 2.06% 0.9% - 1.25% 0.19% - 3% -
Loans 6.21% - 12% 8.9% - 3.5% - 16%
LIABILITIES
Due to other banks 2.17% - 4.3% - - -
Demand deposits 0% - 0.75% 0.25% - 0.75% 0% - 1.75% 0.5%
Term deposits 1.2% - 6.2% 0.35% - 1% 0.2% - 3.35% 1% - 6.2%
Subordinated debt
Euribor + 2.15%
Euribor + 3% - - -
Financial statement
www.raiffeisenbank.ba
153

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
35. RIZIK LIKVIDNOSTI
Rizik likvidnosti predstavlja moguću izloženost Banke vezano uz pribavljanje sredstava koja su potrebna Banci da
bi izmirila svoje preuzete obaveze po finansijskim instrumentima. Banka održava likvidnost u skladu s propisima
Agencije za bankarstvo Federacije Bosne i Hercegovine. Tabela u nastavku sadrži analizu sredstava, obaveza i
vlasničke glavnice prema preostalim periodima od datuma bilansa do ugovornog dospijeća, pri čemu su rokovi
dospijeća utvrđeni uzevši u obzir moguće ranije rokove otplate za opcije ili temeljem plana otplate. Sredstva i obaveze
za koje ne postoji ugovorno dospijeće svrstana u okviru kategoriju “Nedefinisano dospijeće”.
Banka je izložena svakodnevnim pozivima na isplatu sredstava koje izmiruje raspoloživim novčanim izvorima
koji se sastoje od prekonoćnih depozita, sredstava na tekućim računima, depozitima koji dospijevaju, povlačenja
sredstava kredita, jamstava i ostalih derivata koji se podmiruju iz marži i ostalih iznosa na poziv za gotovinske
derivate. Banka ne održava novčane izvore da bi pokrila sve navedene potrebe jer je iz iskustva moguće s velikom
pouzdanošću predvidjeti minimalne iznose ponovnog ulaganja dospjelih sredstava. Banka utvrđuje limite za najniže
iznose sredstava koja dospijevaju a koja su raspoloživa za izmirivanje iznosa plativih na poziv, kao i najniže iznose
međubankarskih i ostalih kredita za pokriće neočekivanih iznosa sredstava koja se povlače na zahtjev.
154 www.raiffeisenbank.ba

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
35. LIQUIDITY RISK
Liquidity risk is a measure of the extent to which the Bank may be required to raise funds to meet its commitments
associated with financial instruments. The Bank maintains its liquidity profiles in accordance with regulations laid
down by the Federal Banking Agency. The table below provides an analysis of assets, liabilities and shareholders’
equity into relevant maturity groupings based on the remaining period from the balance sheet date to the contractual
maturity date. It is presented under the most prudent consideration of maturity dates where options or repayment
schedules allow for early repayment possibilities. Those assets and liabilities that do not have a contractual maturity
date are grouped together under ‘maturity undefined’ category.
The Bank is exposed to daily calls on its available cash resources from overnight deposits, current accounts, maturing
deposits, loan drawdowns, guarantees and from margin and other calls on cash-settled derivatives. The Bank does
not maintain cash resources to meet all of these needs as experience shows that a minimum level of reinvestment of
maturing funds can be predicted with a high level of certainty. The Bank sets limits on the minimum proportion of
maturing funds available to meet such calls and on the minimum level of interbank and other borrowing facilities that
should be in place to cover withdrawals at unexpected levels of demand.
Financial statement
www.raiffeisenbank.ba
155

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
35. RIZIK LIKVIDNOSTI (NASTAVAK)
‘000 KM Na poziv
IMOVINA
Novac i sredstva kod bana-
156 www.raiffeisenbank.ba
0-6
mjeseci
6-12
mjeseci
Preko 1
godine
Nedefinirano
dospijeće
Rezervisanja
Ukupno
ka 16.328 - - - 73.792 - 90.120
Obavezna rezerva kod Cen-
tralne banke - - - - 338.183 - 338.183
Plasmani kod drugih banaka - 651.846 - 496 - (13) 652.329
Dati kreditii i potraživanja 33.905 316.091 267.186 778.586 - (63.770) 1.331.998
Kupljeni krediti koji se drže
do dospijeća - - - 717 - (670) 47
Kapitalna ulaganja - - - - 2.672 (188) 2.484
Ostala imovina - - - - 36.929 (707) 36.222
Nekretnine i oprema - - - - 42.513 (423) 42.090
Ukupna imovina (1) 50.233 967.937 267.186 779.799 494.089 (65.771) 2.493.473
OBAVEZE
Obaveze prema drugim
bankama 529 77.379 58.935 446.424 10.208 - 593.475
Obaveze prema klijentima 844.810 303.158 196.192 228.053 54.808 - 1.627.021
Rezervisanja - - - - - 18.239 18.239
Ostale obaveze 393 4.809 - - 18.092 - 23.294
Subordinirani dug - - - 62.000 - - 62.000
Ukupne obaveze (2) 845.732 385.346 255.127 736.477 83.108 18.239 2.324.029
BILANSNA NEUSKLAÐENOST
LIKVIDNOSTI NA DAN
31. decembra 2005. (795.499) 582.591 12.059 43.322 410.981 (84.010) 169.444
Ukupna imovina na dan
31. decembra 2004. 37.798 853.301 240.338 572.912 391.917 (56.271) 2.039.995
Ukupne obaveze na dan
31. decembra 2004.
715.424 386.338 275.038 459.305 58.114 12.023 1.906.242
UKUPNA NEUSKLAÐENOST
LIKVIDNOSTI NA DAN
31. decembra 2004. (677.626) 466.963 (34.700) 113.607 333.803 (68.294) 133.753

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
35. LIQUIDITY RISK (CONTINUED)
‘000 KM
ASSETS
On
demand
0-6
months
6-12
months
Over 1
year
Non
interest
bearing
Provisions
Total
Cash and due from banks 16,328 - - - 73,792 - 90,120
Due from the Central
Bank - - - - 338,183 - 338,183
Placements with other
banks - 651,846 - 496 -
(13) 652,329
Loans and receivables 33,905 316,091 267,186 778,586 - (63,770) 1,331,998
Purchased loans - - - 717 - (670) 47
Investments - - - - 2,672 (188) 2,484
Other assets - - - - 36,929 (707) 36,222
Fixed and intangible
assets - - - - 42,513 (423) 42,090
Total assets (1) 50,233 967,937 267,186 779,799 494,089 (65,771) 2,493,473
LIABILITIES
Due to other banks 529 77,379 58,935 446,424 10,208 - 593,475
Due to customers 844,810 303,158 196,192 228,053 54,808 - 1,627,021
Provisions - - - - - 18,239 18,239
Other liabilities 393 4,809 - - 18,092 - 23,294
Subordinated debt - - - 62,000 - - 62,000
Total liabilities (2) 845,732 385,346 255,127 736,477 83,108 18,239 2,324,029
TOTAL LIQUIDITY
MISMATCH AS OF
31 December 2004 (795,499) 582,591 12,059 43,322 410,981 (84,010) 169,444
Total assets as of
31 December 2003 37,798 853,301 240,338 572,912 391,917 (56,271) 2,039,995
Total liabilities as of
31 December 2003 715,424 386,338 275,038 459,305 58,114 12,023 1,906,242
TOTAL LIQUIDITY
MISMATCH AS OF
31 DECEMBER 2003 (677,626) 466,963 (34,700) 113,607 333,803 (68,294) 133,753
Financial statement
www.raiffeisenbank.ba
157

Finansijski izvještaji
Napomene uz finansijske izvještaje
31. decembar 2005. i 2004. godine
(Svi iznosi izraženi su u hiljadama KM)
36. KREDITNI RIZIK
Banka je izložena kreditnom riziku, koji predstavlja rizik nemogućnosti druge strane da izmiri cijeli iznos obaveze po
dospijeću. Banka razvrstava kreditni rizik utvrđujući limite za iznos prihvaćenog rizika koje očekuje da će nastati u vezi
s jednim kreditnim primaocem ili grupom kreditnih primatelja te u pojedinim privrednim granama. Banka redovno
prati navedene rizike i preispituje ih jednom godišnje ili češće.
Banka upravlja kreditnim rizikom redovnom analizom sposobnosti postojećih i potencijalnih zajmoprimatelja da
otplate svoje obaveze po glavnici i kamatama i promjenom kreditnih limita po potrebi. Pored toga, svojom izloženošću
kreditnom riziku djelimično upravlja i pribavljanjem kolaterala, te korporativnim i ličnim garancijama.
Preuzete obaveze na temelju izdatih akreditiva. Dokumentovani akreditivi, koji predstavljaju pisane neopozive obaveze
koje je Banka preuzela u ime klijenta (ovlastitelj) a po kojima je treća strana (korisnik) ovlaštena povlačiti sredstva kod
Banke do utvrđenog iznosa pod utvrđenim uslovima, osigurani su instrumentima osiguranja u obliku isporuka dobara
za koje su izdani, pa time predstavljaju i značajno manji rizik. Potrebna novčana sredstva za otvorene akreditive
značajno su manja od preuzetih obaveza po izdanim garancijama ili stand-by akreditivima. Međutim, Banka knjiži
rezervisanja za navedene instrumente po istoj osnovi kao i za kredite.
Obaveze za kreditiranjem, po neiskorištenim odobrenim kreditima, neiskorištenim prekoračenjima i odobrenim
prekoračenjima. Osnovna svrha obaveza za kreditiranjem je osigurati raspoloživost sredstava na zahtjev klijenta.
Obaveze za kreditiranjem predstavljaju neiskorišteni dio odobrenih kredita, garancija ili stand-by akreditiva. Obaveze
Banke za kreditiranjem predstavljaju preuzete obaveze po kreditima ili garancijama, neiskorištena i odobrena
prekoračenja. Obaveze za kreditiranjem ili temeljem garancija koje je izdala Banka a koje su vezane uz određene
kriterije kreditiranja kojima klijenti trebaju udovoljavati (uključivši uslov da ne dođe do pogoršanja solventnosti
klijenta) predstavljaju opozive obaveze. Neopozive obaveze postoje po osnovi odobrenih prekoračenja jer su one
proizašle na temelju uslova koji su utvrđeni ugovorima o kreditu.
37. ODOBRAVANJE FINANSIJSKIH IZVJEŠTAJA
Ove odvojene finansijske izvještaje odobrio je Upravni odbor dana 20. januara 2006. godine.
Potpisali u ime Uprave:
Predsjednik Uprave Direktor finansijskog sektora
Edin Muftić Djula Hasanbegović
158 www.raiffeisenbank.ba

Notes to the financial statements
31 December 2005 and 2004
(all amounts are expressed in thousands of KM)
36. CREDIT RISK
The Bank takes on exposure to credit risk which is the risk upon credit approval and when counterparty will be unable
to pay amounts in full when due. The Bank structures the levels of credit risk it undertakes by placing limits on the
amount of risk accepted in relation to one borrower, or groups of borrowers, and to industry segments. Such risks are
monitored on a revolving basis and subject to an annual or more frequent review.
Exposure to credit risk is managed through regular analysis of the ability of borrowers and potential borrowers to
meet interest and capital repayment obligations and by changing these lending limits where appropriate. Exposure to
credit risk is also managed in part by obtaining collateral and corporate and personal guarantees.
Commitments arising from the issuance of letters of credit. Documentary letters of credit, which are written irrevocable
undertakings by the Bank on behalf of a customer (mandatory) authorising a third party (beneficiary) to draw drafts on
the Bank up to a stipulated amount under specific terms and conditions, are collateralised by the underlying shipments
of goods to which they relate and therefore have significantly less risk. Cash requirements under open letters of credit
are considerably less than the commitments under issued guarantees or stand-by letters of credit. However, the Bank
records provisions against these instruments on the same basis as is applicable to loans.
Commitments to extend credit, undrawn loan commitments, unutilised overdrafts and approved overdraft loans. The
primary purpose of commitments to extend credit is to ensure that funds are available to a customer as required.
Commitments to extend credit represent unused portions of authorisations to extend credits in the form of loans,
guarantees or stand-by letters of credit. Commitments to extend credit issued by the Bank represent issued loan
commitments or guarantees, undrawn portions of and approved overdrafts loans. Commitments to extend credit or
guarantees issued by the Bank which are contingent upon customers maintaining specific credit standards (including
the condition that a customer’s solvency does not deteriorate) are revocable commitments. Irrevocable commitments
represent undrawn portions of authorised loans and approved overdraft facilities because they result from contractual
terms and conditions in the credit agreements.
37. APPROVAL OF THE FINANCIAL STATEMENTS
These separate financial statements were approved by the Management Board on 20 January 2006.
Signed on behalf of the Management Board:
President of the Management Board Director of the Finance Department
Edin Muftić Djula Hasanbegović
Financial statement
www.raiffeisenbank.ba
159

Izdavač:
Published by: Raiffeisen BANK d.d. Bosna i Hercegovina
Dizajn i grafika:
Design & Graphic art: Foto Art d.o.o. Sarajevo
Fotografija:
Photo by: Haris Memija
160 www.raiffeisenbank.ba