Letno poročilo 2009.pdf - UniCredit Banka Slovenija dd

Report from the Supervisory BoardReport from the Supervisory BoardUse of Net Profit and Accumulated Profitfor Fiscal Year 2009In 2010, the Bank’s Management Board presented for discussionto the Supervisory Board the Resolution on use of the net profit forfiscal year 2009 in the amount of 8,798,350.62 euros and the draftResolution on use of accumulated profit for fiscal year 2009 in theamount of 4,399,175.31 euros. Given the planned expansion ofoperations in 2010, and in subsequent years, the Management Boardproposed, in accordance with the adopted mid-term plans of theBank and with a view to meeting the capital adequacy requirements,that the Bank’s net profit be allocated, in its entirety, to other Bankreserves instead of being distributed to shareholders or otherpersons. The Bank's Management Board also proposed that theSupervisory Board and the General Meeting of Shareholders adoptthe proposed Resolution on the use of net profit for fiscal year 2009,in accordance with their powers. The adoption of such a resolutionwill allow for the Bank’s future growth.The Supervisory Board adopted the Resolution on use of the netprofit for 2009, approved the Management Board’s proposal for theuse of accumulated profit for 2009, and recommended to adopt it inthe proposed form at the General Meeting of Shareholders.Operations of the Supervisory BoardAudit CommitteeThe Audit Committee of the Bank’s Supervisory Board had fourregular meetings and one correspondence meeting in 2009. Asan advisory body of the Supervisory Board, the Audit Committee’soperations include assessing, advisory and proposing functions,whereby it aids the Supervisory Board with the fulfilment of its dutiesand responsibilities regarding: adequacy and effectiveness of internalaudit banking procedures, including assessment and measurementof risks and risk management; compliance with the legislation,rules and policies governing the Bank’s operations; adequacy ofaccounting standards, used for preparation of financial statements;adequacy and independence of external banking auditors andprovision of employees within the Internal Audit unit.financial statements for fiscal year 2009 and an additional Auditreport on meeting the criteria for managing risks in the bank fromfirst paragraph of Article 211 of the Banking Act, both prepared bythe certified auditing company KPMG Slovenija d.o.o., allowingthe Supervisory Board to formulate a position on the Bank’s AuditReport.The Supervisory Board reviewed the Annual Report, submitted bythe Bank’s Management Board. It established that the Annual Reportwas consistent with the reports and information on the Bank'sperformance in 2009, as well as with the reports on the economicand political environment in which the Bank operates and whichwere presented to the Supervisory Board during the course of thefiscal year. Comparing the Annual Report with the audited financialstatements for fiscal year 2009, the Supervisory Board establishedthat the financial results presented in the Annual Report wereconsistent with the Audit Report. Having examined the reports,findings and recommendations of the Internal Audit and externalauditors, the Bank’s Management Board took these recommendationsinto consideration and carried out the activities necessary for theirimplementation or ensured their initiation. In the opinion of theSupervisory Board, both the Management Board and the SupervisoryBoard fulfilled all their legal requirements in fiscal year 2009. Basedon the regular monitoring of the Bank’s operations and the abovementioned reviews, the Supervisory Board approved the AnnualReport on the Bank’s business operations in 2009.The Audit Report on the review of the financial statements for fiscalyear 2009, which was presented to the Supervisory Board along withthe Annual Report, also includes the opinion of the certified auditor.The certified auditor issued an unqualified opinion. The SupervisoryBoard was briefed about the Bank's Audit Report for 2009 andabout an additional Audit report on meeting the criteria for riskmanagement for 2009 and had no objections thereto.The Supervisory Board deems its work in 2009 as professional andin line with the valid legislation and internal rules of the UniCreditGroup.Federico GhizzoniChairman of the Supervisory BoardUniCredit Banka Slovenija d.d.Annual Report for 2009The Bank’s Management Board prepared the Annual Report onthe business operations of UniCredit Banka Slovenija d.d. in2009 and presented it to the Supervisory Board for review by thelegally prescribed deadline. Together with the Annual Report, theSupervisory Board also received the Audit Report on the review of160 2009 Annual Report · UniCredit Bank