KB prezent. angl - Komerční banka

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026 ➔027 Report of the Board of Directors Investment Banking Komerční banka confirmed its position as a leading provider of Investment Banking services to clients in 2003. KB offers clients a comprehensive range of products and services on financial markets, in securities and asset management. In terms of debt products, KB further strengthened its leading position, having been mandated to arrange transactions exceeding CZK 13 billion. The Bank also provides services in mergers and acquisitions, and economic and strategy research. Investment banking also governs the interest-rate and foreign-exchange risks of the Bank and implements the Bank’s hedging policy. Securities In 2003, Komerční banka played an important role on the capital market in the Czech Republic. As one of the top three local market makers for both government and corporate bonds, Komerční banka started to provide its institutional clients with electronic trading in Czech government bonds on the Bloomberg executive pages platform. This should be the springboard for the coverage of other instruments and Central European currencies (the Slovak Republic, Poland and Hungary) in this state-of-the-art field in the future. Komerční banka grew stronger on the primary bond market as well. In addition to a growing share in the Czech government bond auctions, the Bank took an active role as the lead-manager and co-manager for banking and corporate issues, such as the KB mortgage bond programme, and issues of the European Investment Bank, Česká konsolidační agentura, ČEZ, Český Telecom, etc. In its equities trading, Komerční banka extended the number of issues for which it is market maker to include ČEZ and Český Telecom. The trend of market making expansion should continue in 2004 as well. The Bank, together with Société Générale structured some tailor-made products for its institutional clients, which is a significant advancement in the range of the product portfolio in comparison to 2002. Debt Capital Markets Komerční banka was one of the top providers for the sophisticated financing of large volumes to clients with operations in the Czech Republic. KB provides a turnkey service, starting with an analysis of the client’s needs and proposals of various alternative solutions. The solution preferred by the client is then turned into a suitable structure, and the Bank executes the transaction by means of a syndicated loan or a bond issue. In 2003, KB was mandated by three clients to underwrite and secure multi-billion debt transactions in the area of syndicated loans. For example, the successful arrangement and placing of a syndicated long-term loan in the total amount of CZK 8 billion for Veolia Environment was the largest corporate syndicated loan in CZK ever completed. In each of its transactions, KB achieved a major success, documented by oversubscription. Komerční banka can also draw on the transactional and industry expertise of Société Générale. This enables KB to offer innovative and well-structured ideas to clients while executing them locally at a reasonable cost. The Bank also successfully completed one of the first Czech-listed mortgage bond programmes and created mortgage bond issues, offering an interesting investment alternative to investors in CZK.
Risk Management Risk management at Komerční banka is based on an integrated concept which takes into account the advanced risk management standards of the Société Générale Group and the statutory and regulatory norms laid down by the Czech National Bank and other regulatory bodies. In its procedures, the Bank takes into consideration the world development in all types of risk, i.e. credit risk, market and liquidity risk, and operational and regulatory risk. Credit Risk Management The Bank, in co-operation with Société Générale, has started, in the scope of the internal Basel II project, preparing for the implementation of the New Basel Capital Accord rules on capital adequacy management. The main goal of the project is to implement advanced methods for the calculation of the Capital Adequacy Ratio, based on the internal system used for credit risk assessments of clients. The regular monitoring and reporting of operational risks has already been introduced. Procedures for measuring the risk parameters of the loan portfolio are being improved to meet the Basel II standards. The Bank performs regular calculations of the unexpected credit risk. In 2003, the Bank made active use of the inter-bank credit register of individuals, set up and run by the main banks on the Czech market. During the year, its use was broadened to include other products, increasing the ability of the Bank to identify problematic clients as early as the assessment process of the applications. The Bank also provided the Czech National Bank with data for the credit register of legal entities. In 2003, the Bank started using the register in the credit process and since then has become increasingly reliant on this instrument. During the year, considerable attention was paid to the development of advanced information systems designed for the daily monitoring of limits and the Bank’s exposure to clients and economically connected groups. Loan evaluation and monitoring During the year, the Credit Risk Assessment units cooperated closely with business units to reduce the administrative burden of credit process and apply procedures allowing for further improvement of credit process performance and flexibility. Most attention was paid to the process of simplifying the credit file format and monitoring procedure. An example of this is the expansion of the process of assessing the solvency of individuals and small entrepreneurs by evaluating the client’s transaction history. The improved quality of client solvency evaluation is reflected in the acceleration and improved quality of the approval procedure, but the Bank is also able to assess the level of the credit risk posed by individual clients better. The development of the 4M system and Credit Risk Machine also continued; the 4M system is a reporting instrument for risk assessment and the Credit Risk Machine monitors commitments dedicated to the largest KB exposures. KB also continued using the DCCIT electronic tool for credit file circulation, building up expertise in specialised teams, and improving internal monitoring. As a result of these activities, credit assessment delays were reduced, the quality of the KB loan portfolio improved, and the productivity of the approval process increased.
Page 1 and 2: AR ➔ 03 Annual Report Komerční
Page 3 and 4: KB was named “The Trustworthiest
Page 5 and 6: 8 The total loan portfolio of the B
Page 7 and 8: Statutory Bodies and Organisation S
Page 9 and 10: Retail Banking Komerční banka’s
Page 11 and 12: Financial Highlights Unconsolidated
Page 13 and 14: Alexis Juan The product and service
Page 15 and 16: Major Events in 2003 Restructuring
Page 17 and 18: Information on Komerční banka Sha
Page 19 and 20: In 2003, both imports and exports a
Page 21 and 22: To achieve this target Komerční b
Page 23 and 24: The Distribution Network Komerční
Page 25 and 26: Retail Banking Individuals In the b
Page 27: Corporate Banking Medium Enterprise
Page 31 and 32: Provisions and reserves With regard
Page 33 and 34: Methods for measuring market risk a
Page 35 and 36: Price setting ALM is in charge of e
Page 37 and 38: Information Technology and Operatio
Page 39 and 40: Corporate Citizenship - Company Act
Page 41 and 42: Net operating income Net operating
Page 43 and 44: LIABILITIES Amounts due to banks Am
Page 45 and 46: Restructuring process The restructu
Page 47 and 48: Investiční kapitálová společno
Page 49 and 50: Komerční banka Bratislava, a. s.
Page 51 and 52: Komerční pojišťovna, a. s. Shar
Page 53 and 54: Všeobecná stavební spořitelna K
Page 55 and 56: Statutory Bodies and Organisation S
Page 57 and 58: Directors Committee The Directors C
Page 59 and 60: Shareholders Shareholders Sharehold
Page 61 and 62: Auditors’ Report for Shareholders
Page 63 and 64: FInancial Statements Financial Stat
Page 65 and 66: Unconsolidated Profit and Loss Stat
Page 67 and 68: Liabilities CZK million Item no. Na
Page 69 and 70: Statement of Changes in Equity for
Page 71 and 72: State guarantee covering losses on
Page 73 and 74: (e) Securities Securities held by t
Page 75 and 76: The Bank has carried in its balance
Page 77 and 78: Certain derivative transactions, wh
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8. Administrative expenses In addit
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Reserves for off balance sheet expo
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CZK million 2003 2002 2001 Profit/(
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Set out below is an analysis by ter
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Syndicated loans granted Non-bankin
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Securities available for sale Secur
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Investments held to maturity Invest
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Company name and legal status Direc
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17. Tangible and intangible fixed a
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19. Amounts owed to banks CZK milli
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23. Subordinated liabilities In 199
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Loan collateral Collateral values a
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(C) Financial derivatives The Bank
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(D) Interest rate risk Interest rat
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CZK million On demand Up to 3 month
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Financial commitments and contingen
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Principal balances owed to the Soci
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Unconsolidated Financial Statements
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Unconsolidated Statement of Changes
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Consolidated Financial Statements u
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Consolidated Balance Sheet as of 31
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Consolidated Cash Flow Statement fo
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In the year ended 31 December 2002,
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(b) Basis of consolidation Subsidia
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The Group assesses on a regular bas
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(m) Sale and repurchase agreements
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5. Net interest income Net interest
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Social security costs include retir
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The balance of reserves for other c
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17. Cash and current balances with
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Debt trading securities at fair val
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Set out below is an analysis by ter
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Debt securities available for sale
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25. Investments in associates and u
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28. Amounts due to customers Amount
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Other provisions are composed of th
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35. Commitments and contingent liab
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Remaining maturity of remaining ins
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2003 2002 Number of the Management
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Loan collateral Collateral values a
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(C) Financial derivatives The Group
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(D) Interest rate risk Interest rat
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CZK million On demand Up to 3 month
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(G) Operational risk The Group does
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Survey of Financial Results 1999 -
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The Bank shall further carry on bus
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Shares 38,009,852 listed ordinary b
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Komerční banka Shares Type: ordin
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Surrender of GDRs Upon surrender of
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Investments Investments made by the
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Report on Relations Among Related E
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Investment banking arrangements In
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Komerční banka, a. s. Na Příkop
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KB prezent. angl - Komerční banka

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