Napomene uz nekonsolidovane finansijske ... - Raiffeisen Bank

Godišnji izvještaj 2004 

2 www.raiffeisenbank.ba

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 ..............................................................................14 

The RZB Group & Raiffeisen International .......................................................................15 

Raiffeisen Bank d.d. Bosna i Hercegovina ...........................................................................18 

Raiffeisen Bank d.d. Bosnia and Herzegovina ..............................................................19 

Uprava Banke ..................................................................................................................20 

Bank Management .....................................................................................................20 

Organizaciona struktura banke ..........................................................................................26 

Organisation Structure of the Bank ...............................................................................26 

Sektor za poslovanje sa pravnim licima ..............................................................................28 

Corporate Banking Division ..........................................................................................29 

Sektor za poslovanje sa stanovništvom ...............................................................................30 

Retail Division ..............................................................................................................31 

Sektor sredstava i finansijskih tržišta ...................................................................................34 

Treasury and Financial Market Division ...........................................................................35 

Sektor za finansije i računovodstvo ......................................................................................36 

Finance and Accounting Division ...................................................................................37 

Sektor podrške i platnog prometa .......................................................................................38 

Central Processing Division ..........................................................................................39 

Bilans stanja ....................................................................................................................44 

Balance Sheet ..............................................................................................................45 

Bilans uspjeha ...................................................................................................................46 

Profit and Loss Account ................................................................................................47 

Značajni finansijski pokazatelji ...........................................................................................48 

Key Financial Highlights ...............................................................................................48 

Centrala i filijale .................................................................................................................68 

Head Office and Branches ...........................................................................................68 

Adresar .............................................................................................................................69 

Addresses ....................................................................................................................69 

Nezavisno revizorsko mišljenje ...........................................................................................82 

Independent Auditors’ Report .......................................................................................83 

Nekonsolidovani Bilans uspjeha .........................................................................................84 

Unconsolidated Income Statements ...............................................................................85 

Nekonsolidovani Bilans stanja ............................................................................................86 

Unconsolidated Balance Sheets .....................................................................................87 

Nekonsolidovani izvještaj o toku novca .............................................................................88 

Unconsolidated Statements of Cash Flows ......................................................................89 

Nekonsolidovani izvještaj o promjenama u vlasničkoj glavnici ...............................................90 

Unconsolidated Statement of Changes in Shareholders’ Equity ........................................91 

Napomene uz nekonsolidovane finansijske izvještaje ...........................................................92 

Notes to the Unconsolidated Financial Statements ..........................................................93 

Annual Report 2004 

www.raiffeisenbank.ba 

3



5

Izvještaj predsjednika Nadzornog odbora 

Izvještaj predsjednika 

Nadzornog odbora 

6 www.raiffeisenbank.ba 

Ispred Nadzornog odbora Raiffeisen BANK d.d. Bosna i Hercegovina sa zadovoljstvom 

Vam mogu predstaviti uspješne poslovne rezultate u prethodnoj godini. I pored 

nastavka procesa zaoštravanja konkurencije Raiffeisen BANK d.d. BiH zadržala je svoj 

stabilan rast i poziciju vodeće banke u zemlji. Banka je zadržala i poziciju banke sa 

najvećom aktivom. Raiffeisen banka BiH, zaključno sa 30. novembrom 2004. godine, 

dostigla je iznos aktive od 2,02 milijarde KM i tako postala prva banka u BiH koja je 

prešla magičnu granicu od dvije milijarde KM aktive. 

Raiffeisen banka je vrijedan član Raiffeisen International Bank-Holding AG (Raiffeisen 

International), jedne od vodećih bankarskih grupacija u Centralnoj i Istočnoj Evropi. 

Uspjeh Grupacije zasniva se i na sveobuhvatnoj pokrivenosti CIE, kao i jakoj poziciji 

njenog krajnjeg vlasnika Raiffeisen Zentralbank (RZB). RZB nije samo vodeća komercijalna 

i investicijska banka u Austriji, nego također banka koja nudi pristup svjetskim finansijskim 

centrima i tržištima u razvoju u Aziji. 

Bankarski sektor u Bosni i Hercegovini jedan je od najrazvijenijih sektora u polju ekonomije. U 

vremenu njegovog stalnog unapređenja, ali i vremenu rizika i neizvjesnosti izazvanih nesređenim 

političkim, pravnim i ekonomskim sistemima, možemo istaći izvanrednu likvidnost ovog sektora. 

Značajan korak ka unapređenju sektora jeste i formiranje Udruženja banaka na državnom nivou, 

koje će zasigurno doprinijeti uspostavljanju jedinstvenog bankarskog sistema u BiH. Ovim korakom 

banke u BiH su pokazale svoju spremnost da dadnu doprinos u procesu stvaranja zdravog 

poslovnog okruženja u Bosni i Hercegovini. Tome umnogome doprinosi i rasprostranjenost mreže 

većine banaka u oba bh entiteta, u čemu je jedna od vodećih upravo Raiffeisen banka d.d. BiH. 

Kao dokaz značajnog napretka bankarskog sektora dolazi i skoro preuzimanje bankarske supervizije 

od strane Centralne banke BiH. O velikom povjerenju građana u domaću valutu govori 

činjenica da je odnos štednje u domaćoj i stranoj valuti približno 50:50, dok je u protekloj godini 

bio približno 45:55 u korist depozita u stranim valutama. 

Raiffeisen banka je uvijek imala pionirsku ulogu u razvoju novih proizvoda i usluga: bila je najaktivnija 

banka u procesu uvođenja EURO valute, među prvima uvela kartično poslovanje, prva banka 

sa uslugom e-bankinga, te prva sa SME programom. Kroz svoje brojne inicijative koje je predlagala 

relevantnim vlastima i institucijama, značajno je oblikovala razvitak državnog bankarskog i finansijskog 

sektora, kao i regulatornog okvira za provođenje bankarskih aktivnosti. Štaviše, većinski 

dioničar Raiffeisen International je uvijek pokazivao spremnost da podrži inicijative Raiffeisen 

banke, tehnički i profesionalno. 

Nadzorni odbor je održavao redovne sastanke uporedo sa Izvršnim odborom o poslovnim transakcijama 

i razvoju Banke i izvršavao sve zadatke koji su mu dodijeljeni prema Zakonu i Statutu. 

U ime svih članova Nadzornog odbora zahvaljujem se rukovodstvu Banke, kao i svim njenim zaposlenicima 

za njihov predan rad i profesionalnost. Uz dužno poštovanje, zahvaljujem se svim klijentima 

Raiffeisen banke BiH koji su nam, poslujući sa nama, ukazali svoje povjerenje. Vjerujem da će 

Raiffeisen BANK d.d. BiH, slijedeći svoje ciljeve, uz stabilizaciju i unapređenje političko-ekonomske 

situacije u zemlji, dostići nove uspjehe u 2005. 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 have the pleasure 

to present the Bank’s successful business results for the previous year. Despite the continued 

process of intensification of competition, Raiffeisen BANK has continued its stable growth and 

retained its position of the country’s leading bank with the highest total assets. As of 30 November 

2004, Raiffeisen Bank’s assets reached 2.02 billion KM and in that way became the first bank in the 

country to pass the threshold of two billion KM. 

Raiffeisen BANK is a valuable member of Raiffeisen International Bank-Holding AG (Raiffeisen International), 

one of the leading banking groups in Central and Eastern Europe. The group’s success is 

based on both its extensive coverage of CEE and the strong position of its ultimate owner Raiffeisen 

Zentralbank (RZB). RZB is not only a leading commercial and investment bank in Austria, but also 

offers access to the word’s financial centres and growth markets in Asia. 

The local banking sector is one of the most developed sectors of the economy. In a time of continuos 

progress, which is also a time of risk and uncertainty caused by disordered political, legal 

and economic systems, we emphasise that this sector has an exceptional liquidity. Also, a significant 

step towards improvement of this sector was the founding of the Association of Banks at the 

national level which will surely contribute to the establishment of a unified banking system in Bosnia 

and Herzegovina. With this step,local banks have shown their readiness to contribute to the process 

of creating a healthy business environment. This has been greatly supported by the expansion of 

networks of most of the banks in both B&H entities, whereas one of the leading banks is Raiffeisen 

Bank. A further evidence of significant progress of the banking sector is soon expected when the 

Central Bank will be assuming local banking supervision. 

The great trust of individuals in the domestic currency is evidenced by the fact that the ratio of 

savings in domestic and foreign currencies is approximately 50:50, while in the past year it was 

approximately 45:55 in favour of foreign currency deposits. 

Raiffeisen Bank has always had a pioneer role in the development of new products and services: 

it was the most active bank in the process of EUR currency introduction,among the first banks who 

launched card operations, the first bank with e-banking service and the first one with SME program. 

Through its numerous initiatives put forward to the relevant authorities and institutions, it has significantly 

shaped the development of the country’s banking and financial sector as well as the regulatory 

framework for conducting banking activities. Moreover, the majority shareholder Raiffeisen 

International has always shown readiness to support the initiatives of Raiffeisenbank technically and 

professionally. 

The Supervisory Board was in regular meetings kept abreast by the Managing Board of business 

transactions of note and the development of the Bank and performed all the tasks assigned to it by 

law and the Articles of Association. 

On behalf of the whole supervisory board, I would like to extend my thanks to the Bank’s Management, 

as well as to all its employees, for their devoted work and professionalism. With all due 

respect, I would also like to thank all customers who have shown their trust by doing business with 

us. I believe that Raiffeisen BANK, following its goals, along with the stabilisation of the political 

and economic situation in the country, will accomplish new successes in 2005. 

Herbert Stepic 

President of the Supervisory Board 

Report by the President of the Supervisory Board 


7

Predgovor direktora 

Predgovor direktora 


U ime Uprave Raiffeisen BANK d.d. Bosna i Hercegovina zadovoljstvo mi je govoriti 

o rezultatima još jedne uspješno završene poslovne godine. Revidirani finansijski 

rezultati Banke za 2004. godinu, pokazuju porast u svim segmentima poslovanja. 

Pored ovogodišnjeg trenda okrupnjavanja banaka i razvoja konkurencije naša banka 

je zadržala poziciju lidera na bh. bankarskom tržištu. Nastavkom našeg uspješnog 

poslovanja postali smo prva banka koja je dostigla nivo aktive u iznosu većem od 

dvije milijarde konvertibilnih maraka. Prethodnu godinu završili smo sa neto dobiti u 

iznosu od 21,2 milion KM. Aktiva Banke sa 31. decembrom 2004. godine iznosila je 

2.039.995.000 KM, što u odnosu na 2003. godinu predstavlja povećanje od 47%, 

kapital je povećan za 46%, dobit za 4%, krediti za 31%, depoziti 37%. 

Iako je naša mreža jedna od najrasprostranjenijih u zemlji i u prethodnoj godini nastavljeno je 

njeno širenje. Otvorene su nove poslovnice u Sarajevu, Velikoj Kladuši i Sanskom Mostu. Karakteristika 

naše poslovne mreže jeste njena rasprostranjenost u oba bh. entiteta, a naša ponuda 

identična je u svim dijelovima BiH. 

Kao potvrda našeg uspješnog poslovanja su kako domaća, tako i mnogobrojna međunarodna 

priznanja: 

The Banker - “Bank of the Year” 

Global Finance - “Best Bank” 

Magazin BANKE - tri Zlatna BAM-a 

Finance Central Europe - četiri nagrade 

Nastankom Raiffeisen Leasinga u januaru 2004. godine, uspješnu Raiffeisen grupaciju u BiH 

sačinjava 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). 

Ostvareni rezultati u potpunosti opravdavaju naš izbor poslovne strategije orjentisane prema klijentima, 

zatim korištenju novih tehnologija, konstantnim unapređenjima poslovnih procesa, kao i 

stalnom educiranju i specijalizaciji naših zaposlenika. Navedene aktivnosti poduzimane su u skladu 

sa našim osnovnim ciljem - povećanje zadovoljstva korisnika naših usluga i podrška razvoju 

njihovog poslovanja i kvaliteta življenja. Tome će zasigurno doprinijeti i permanentno uvođenje 

novih servisa. Naime, u prošloj godini sa radom je počeo Call centar koji pruža informacije o 

proizvodima i uslugama naše banke, ali i ostalih članica Grupacije. U okviru Centra direktni kontakt 

sa klijentima ostvaruje se i kroz e-mail servis putem Raiffeisen direkt mailbox-a. 

Ovom prilikom želim se zahvaliti, kao prvo, svim našim klijentima koji su nam ukazali povjerenje, 

ali i svim našim zaposlenicima na predanom radu koji, iz godine u godinu, pridonosi našim 

zajedničkim uspjesima. 

Edin Muftić 

Direktor

Introduction by 

Chief Executive Officer 

On behalf of the Management of Raiffeisen BANK d.d. Bosna i Hercegovina I have the pleasure 

to present the results of another successfully completed business year. Audited financial results of 

the Bank for 2004 have shown the growth in all business segments. 

Despite the trend of banks’ enlargements and strong competition, our Bank managed to keep 

the leading position in the BH banking market. Due to our continuous successful operations we 

became the first bank which exceeded the assets value of two billion Convertible Marks. The last 

year was ended with net income of KM 21.2 million. Assets of the Bank as of December 31, 2004 

were KM 2,039,995,000, which is the increase of 47% when compared to the year 2003; capital 

was increased by 46%, income by 4%, loans by 31%, deposits by 37%. 

Although our business network is one of the most widely spread networks in the country, the 

expansion continued in the last year. New outlets were opened in Sarajevo, Velika Kladuša and 

Sanski Most. One of the distinctive features of our network is the presence in both BH entities, 

with identical offer in all parts of the country. 

Our successful business results have been confirmed by a number of local and international 

rewards: 

The Banker - “Bank of the Year” 

Global Finance - “Best Bank” 

Magazine BANKE - three Golden BAMs 

Finance Central Europe – four rewards 

After the founding of Raiffeisen Leasing in January 2004, the successful Raiffeisen Group in Bosnia 

and Herzegovina has been consisted of the following five members: Raiffeisen BANK, Raiffeisen 

Insurance, Raiffeisen Brokers, Raiffeisen Leasing and Market Investment Group 

(MI-GROUP), the last of which is specialized for management of investment funds and securities 

trading brokerage (performed on behalf and for the account of Private-investment Fund 

“MI-GROUP” d.d. Sarajevo). 

The excellent performance justifies entirely our business strategy oriented to the Customers, our 

usage of up-to-date technology, our constant improvement of business processes and our ongoing 

training and specializing of our employees. These activities have a joint end goal - to increase 

the satisfaction of our Customers and to provide support to their businesses and improve quality 

of their lifestyles. Constant introduction of new services will surely contribute to this; last year, the 

Call Center was set up with the purpose of providing information about products and services of 

not only our Bank but also other members of the Group. Within this service, direct contact with 

the customers is established by e-mail service through Raiffeisen Direct Mailbox. 

On this occasion, I would like to thank first to our Customers who trust us, and then to all our 

dedicated employees who have been contributing to our joint successes year after year. 

Edin Muftić 

CEO 

Introduction by Chief Executive Officer 


9



11

Makroekonomski agregati 

Makroekonomski agregati 


U 2004. godini ostvaren je pozitivan trend rasta ekonomije. Osnovni pokazatelji bruto društvenog 

proizvoda (BDP-a) u odnosu na 2003. godinu veći su za 5%. Procjenjuje se da će stopa rasta 

BDP-a u kratkoročnom periodu iznositi 5,5%. Rastu BDP-a uglavnom su doprinijeli rast industrijske 

ali i poljoprivredne proizvodnje. Industrijska proizvodnja u odnosu na prethodnu godinu porasla 

je za 9,7%. 

Inflacija je zadržala svoju stabilnost i ostala na istom, niskom nivou. U novembru 2004. iznosila 

je 0,6%, što predstavlja jednu od najnižih stopa inflacije u regionu. Ovakva inflacija u BiH rezultat 

je uspješnog vođenja monetarne politike Centralne banke Bosne i Hercegovine na principima 

valutnog odbora (“currency boarda”), tj. fiksnog kursa konvertibilne marke vezanog za euro. 

Cijene u Federaciji BiH pale su za 0,5%, dok su u Republici Srpskoj porasle za 1,9%. Plaće su 

rasle za 1,9%. Stepen nezaposlenosti u 2004. godini iznosio je 43% i predstavlja najvišu stopu u 

regiji. Međutim, uzimajući u obzir procijenjeni obim neregistrovane ekonomije i način registrovanja 

nezaposlenih, ovaj podatak ne predstavlja stvarnu stopu nezaposlenosti. 

Pokrivenost uvoza sa izvozom na kraju 2004. godine iznosila je 32%. Izvoz je rastao za 28%, a uvoz 

za 9%. Prema pokazateljima ukupne ekonomske aktivnosti sa inostranstvom, BiH i dalje bilježi visok 

vanjskotrgovinski deficit koji je za prvih jedanaest mjeseci 2004. godine iznosio 6,93 milijarde KM. 

Iznos deviznih rezervi je oko 3,4 milijarde KM. Vanjski dug u odnosu na 2003. godinu smanjen je 

za 1% i iznosio je 3,9 milijardi KM. Devizne rezerve iznosile su oko 3,4 milijarde. 

Broj platnih transakcija u platnom prometu porastao je za 20%, što je izraženo u vrijednosti predstavljalo 

porast od 16%. U 2004. godini došlo je do znatnog povećanja stranih investicija. Sa 660 

miliona koliko su iznosile u 2003. godini, u 2004. su porasle na 780 miliona KM. U toku 2004 

godine nastavljeno je sprovođenje odgovorne fiskalne politike usmjerene na stabilizaciju makroekonomskih 

prilika u BiH. Tokom 2003. godine prvi put je ostvaren i suficit u fiskalnom bilansu, 

koji je u prvom polugodištu 2004. godine iznosio 149 miliona KM. 

Kreditna ekspanzija u 2004. godini iznosila je 27%. 

Bankarski sektor u Bosni i Hercegovini jedan je od najrazvijenijih sektora u polju ekonomije. U 

vremenu njegovog stalnog unapređenja, ali i vremenu rizika i neizvjesnosti izazvanih nesređenim 

političkim, pravnim i ekonomskim sistemima, ističe se izvanredna likvidnost ovog sektora. 

Da je nastavljena stabilizacija i jačanje bankarskog sistema u BiH govori iznos od preko 9 milijardi 

KM ukupne aktive, koji je u odnosu na kraj 2003. godine povećan za dvije milijarde KM. 

Ukupni depoziti krajem 2004. godine iznosili su 5,5 milijardi KM, dok su komercijalne banke 

imale 5,9 milijardi KM odobrenih kredita. Ukupan iznos depozita u odnosu na 2003. godinu 

porastao je za 27,77%, dok je iznos kredita porastao za 15,73%. Štednja građanstva zaključno 

sa 31.12.2004. godine iznosila je 2,3 milijarde KM, što je za 400 miliona KM više u odnosu na 

kraj 2003. godine. 

Očekuje se da će rast i razvoj bankarstva u BiH biti podstaknut stvaranjem bolje ekonomske i 

pravne sredine u zemlji. Stvaranjem pozitivnije poslovne klime u BiH očekuje se i dolazak kapitala 

stranih investitora. Sve to dat će dovoljno prostora za rast bankarskog sektora u okviru kojeg 

danas posluju 33 banke.

Macroeconomic Aggregates 

The year 2004 was marked with a positive growth trend of economy. The main ratios of GDP 

were larger by 5% when compared to 2003. It is estimated that the growth rate of GDP in the 

short term will be 5.5%. The growth of GDP has been mainly the result of the growth of both 

industrial and agricultural production. Industrial production has increased by 9.7% when compared 

to the previous year. 

Macroeconomic Aggregates 

Inflation is stable and unchanged, meaning low. In November 2004 the inflation rate was 0.6%, 

which is one of the lowest inflation rates in the region. Such inflation in B&H is the result of successful 

monetary policy management by the Central Bank of Bosnia and Herzegovina, based on 

the “currency board” principle, i.e. fixed exchange rate of Convertible Mark tied to Euro. The prices 

in the Federation of B&H fell by 0.5%, while in Republika Srpska they rose by 1.9%. Salaries 

rose by 1.9%. Unemployment rate in 2004 was 43% and it is the highest in the region. However, 

having in mind significant estimated volume of grey economy and the way in which the unemployed 

are recorded, this figure does not reflect the real unemployment rate. 

Export/import ratio at the end of 2004 was 32%. Export has risen by 28%, and import by 9%. 

According to the figures which refer to overall international economic activities, B&H still has high 

foreign trade deficit; in the first eleven months of 2004 it was KM 6.93 billion. 

Foreign currency reserves amounted to approx. KM 3.4 billion. Foreign debt was reduced by 1% 

when compared to the year 2003 and it was KM 3.9 billion. 

Number of payment transactions increased by 20%, or 16% in value. Foreign investments were 

significantly increased in 2004; from KM 660 million in 2003 to KM 780 million in 2004. In 

2004, it was continued with the implementation of a responsible fiscal policy focused on the stabilization 

of the macroeconomic environment in B&H. Fiscal balance surplus was achieved for the 

first time in 2003, and in the first half of 2004 it was KM 149 million. 

Lending grew by 27% in 2004. 

Banking is one of the best-developed business sectors in Bosnia and Herzegovina. Having in mind 

that this is the time of constant growth of the banking industry but also the time of risk and uncertainty 

caused by disordered political, legal and economic systems, the industry has an extraordinary 

liquidity. 

Continuous stabilization and strengthening of the banking system in B&H is confirmed by the fact 

that overall assets reached over KM 9 billion, which is the increase of KM 2 billion when compared 

to the end of 2003. Overall deposits as of the end of 2004 were KM 5.5 billion, and the 

commercial banks approved KM 5.9 billion loans in total. Overall deposits were increased by 

27.77% when compared to 2003, and overall loans by 15.73%. Saving deposits of individuals 

as of December 31, 2004 were KM 2.3 billion, which is KM 400 million more than at the end of 

2003. 

It is expected that the growth and development of the banking industry in B&H would be encouraged 

by creating better economic and business environment in B&H. Positive business circumstances 

in B&H will attract capital of foreign investors. All of this will provide enough room for 

further growth of the banking sector currently consisted of 33 banks. 


13

RZB Grupacija i Raiffeisen International 

RZB Grupacija i 

Raiffeisen International 


Raiffeisen International Bank-Holding AG (Raiffeisen International)* je u potpunosti konsolidovano 

subsidijarno lice Raiffeisen Zentralbank Österreich AG (RZB)** koja je centralna institucija austrijske 

Raiffeisen Banking Group (RBG)*** najveće bankarske grupacije u Austriji. Ukupni konsolidovani 

bilans uspjeha RBG sa 31. decembrom 2004. godine je iznosio oko € 145 milijarde. On 

otprilike predstavlja četvrtinu svih poslovanja banke u zemlji i obuhvata najveću bankarsku mrežu 

sa više od 2.300 ureda i oko 23.000 uposlenika. 

RZB je osnovana 1927. i pruža čitav niz komercijalnih i investicionih bankarskih usluga u Austriji 

i smatra se pionirom u Centralnoj i Istočnoj Evropi (CEE). Ona je jedna od vodećih banaka 

u regionu koja nudi komercijalne, investicione usluge kao i usluge fizičkim licima na slijedećim 

tržištima: Mađarska, Slovačka, Poljska, Češka Republika, Bugarska, Hrvatska, Rusija, Ukrajina, 

Rumunija, Bosna i Hercegovina, Srbija i Crna Gora, Slovenija, Srbija i Crna Gora/Kosovo, Bjelorusija 

i Albanija. 

Raiffeisen International djeluje kao preduzeće koje upravlja ovim bankama i njihovim subsidijarnim 

licima. Ono je i uvijek će biti u većinskom vlasništvu RZB. Manjinski udio ima International 

Finance Corporation (IFC)**** - 4% i European Bank for Reconstruction and Development 

(EBRD)*****. 

* Raiffeisen International Bank-Holding AG 

(Raiffeisen International) je u potpunosti konsolidovano 

RZB subsidijarno lice. Ono djeluje kao 

holding kompanija za subsidijarna lica RZB Grupacije 

u Centralnoj i Istočnoj Evropi. 

** Raiffeisen Zentralbank Österreich AG (RZB) 

je centralna institucija Austrian Raiffeisen Banking 

Group. RZB je treća najveća austrijska banka 

i specijalizirana je za bankarske komercijalne i 

investicijske usluge. Kao matično preduzeće RZB 

Grupacije, ono također kotira među vodećim 

bankarskim grupacijama Centralne i Istočne 

Evrope nudeći čitav niz komercijalnih i investicijskih 

usluga i usluga za fizička lica praktično u 

čitavom regionu. 

Kao dodatak svojim bankarskim poslovanjima, 

RZB vodi nekoliko specijalizovanih kompanija 

u zemljama Centralne i Istočne Evrope nudeći 

rješenja, između ostalog, u oblastima M&A, razvoja 

nekretnina, upravljanja sredstvima, leasinga 

i hipotekarnog bankarstva. Poslovanje RZB-a 

uključuje i filijalu u Londonu, predstavništva 

u Njujorku, Briselu, Milanu i Parizu kao i finansijko 

preduzeće u Njujorku i subsidijarnu banku 

na Malti. U Aziji, RZB ima filijale u Singapuru i 

Pekingu kao i predstavništva u Hong Kongu, 

Ho Chi Minh City, Mumbaiu, Tehranu i Seulu. 

RZB Grupa 

Raiffeisen Zentralbank Österreich AG (RZB) posjeduje 

i rukovodi grupaciju koja se sastoji od više 

od 100 jedinica. Potpuno konsolidovano subsidijarno 

lice RZB-a Raiffeisen International formira 

jednu od glavnih jedinica Grupacije i djeluje kao 

holding i rukovodstveno preduzeće za Mrežu u 

Centralnoj i Istočnoj Evropi. 

*** The Raiffeisen Banking Group (RBG) 

je austrijska najjača bankarska grupacija. RBG se 

sastoji od Raiffeisen banaka na lokalnom nivou, 

Raiffeisen banke na regionalnom nivou i RZB-a 

kao centralne institucije. RZB također predstavlja 

“vezu” između svojih internacionalnih poslovanja 

i RBG. Raiffeisen banke su privatne kooperativne 

kreditne institucije koje nude opšte usluge za rad 

sa fizičkim licima. 

**** International Finance Corporation (IFC) 

je privatni sektor World Bank Group. Njen 

zadatak je da promovira održive investicije privatnog 

sektora zemalja u razvoju. IFC finansira 

investicije privatnog sektora u svijetu razvoja, 

mobilizira kapital na internacionalnim finansijskim 

tržištima, pomaže klijentima da poboljšaju socijalnu 

i ekološku održivost i pruža tehničku pomoć 

i savjete vladama i poslovnim preduzećima. Kao i

The RZB Group and 


RZB Group & Raiffeisen International 

Raiffeisen BANK d.d. BiH is a subsidiary of Raiffeisen International Bank-Holding AG (Raiffeisen 

International)*, a fully consolidated subsidiary of Raiffeisen Zentralbank Österreich AG (RZB)**. 

RZB in turn is the central institution of the Austrian Raiffeisen Banking Group (RBG), the country’s 

most powerful banking group. As of 31 December 2004, RBG’s consolidated balance sheet total 

amounted to € 145.5 billion. It represents approximately a quarter of all domestic banking business 

and comprises the country’s largest banking network with almost 2,300 offices and some 

23,000 employees. 

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: Hungary, Slovakia, Poland, Czech Republic, Bulgaria, Croatia, Russia, Ukraine, 

Romania, Bosnia and Herzegovina, Serbia and Montenegro, Slovenia, Serbia and Montenegro/ 

Kosovo, Belarus and Albania. 

Raiffeisen International acts as the steering company for these banks and their subsidiaries. 

It is and will always be majority-owned by RZB. Minority interest is held by the International 

Finance Corporation (IFC)**** - 4% and the European Bank for Reconstruction and Development 

(EBRD*****). 

* Raiffeisen International Bank-Holding AG 

(Raiffeisen International) is a fully consolidated RZB 

subsidiary. It acts as the holding company for the 

RZB Group’s subsidiaries in Central and Eastern 

Europe, above all the Group’s banking and leasing 

units. 

** Raiffeisen Zentralbank Österreich AG (RZB) 

is the central institution of the Austrian Raiffeisen 

Banking Group. RZB is the third-largest Austrian 

bank and a specialist of commercial and investment 

banking services. Being the parent company 

of RZB Group it also ranks among Central and 

Eastern Europe’s leading banking groups, offering 

the full scope of commercial, investment and 

retail banking services practically throughout the 

region. In addition to its banking operations, RZB 

runs several specialist companies in Austria and 

Central and Eastern Europe offering servicesin the 

areas of M&A, real estate development, fund 

management, leasing and mortgage banking, 

among others. RZB’s operations also include a 

branch in London, representative offices in Brussels, 

Milan and Paris, a subsidiary bank in Malta 

as well as a representative office and a finance 

company in New York. In Asia, RZB runs branches 

in Beijing and Singapore as well as representative 

offices in Hong Kong, Ho Chi Minh City, Mumbai, 

Tehran and Seoul. 

RZB Group 

The group owned and steered by Raiffeisen 

Zentralbank Österreich AG (RZB), consisting 

of more than 100 units. RZB’s fully consolidated 

subsidiary Raiffeisen International forms one of 

the Group’s main units, acting as holding and 

steering company for the Network in Central 

and Eastern Europe. 

*** The Raiffeisen Banking Group (RBG) 

Austria’s most powerful banking group. RBG 

consists of Raiffeisen Banks on the local level, 

Regional Raiffeisen Banks on the provincial level 

and RZB as central institution. RZB also acts as 

the “link” between its international operations 

and RBG. Raiffeisen Banks are private cooperative 

credit institutions, operating as general service 

retail banks. 

**** International Finance Corporation (IFC) 

is the private sector arm of the World Bank 

Group. Its mission is to promote sustainable 

private sector investment in developing countries. 

IFC finances private sector investments in 

the developing world, mobilizes capital in the 

international financial markets, helps clients 

improve social and environmental sustainability 

and provides technical assistance and advice to 

governments and businesses. As is the case with 


15

RZB Grupacija i Raiffeisen International 


u slučaju EBRD-a, IFC i RZB Grupacija su ostvarili 

niz saradnji u Centralnoj i Istočnoj Evropi što vodi 

ka obavezi kapitala IFC-a kod Raiffeisen International, 

investirajući € 100 miliona u oktobru 

2004. 

Vizija i Misija Raiffeisen International 

Vizija 

*****European Bank for Reconstruction and 

Development (EBRD), London, je u posjedu 60 

vlada i dvije međuvladine institucije i za cilj ima 

poticanje tranzicije planirane na centralnom nivou 

na tržišne ekonomije u Centralnoj i Istočnoj Evropi 

i područjima nezavisnih država. U oktobru 2004. 

godine, EBRD je postala dioničar Raiffeisen International 

tako što je povećala kapital banke za € 100 

miliona. 

Raiffeisen International Group je vodeća bankarska grupacija u Centralnoj i Istočnoj Evropi. 

Misija 

• Težimo ka dugoročnim vezama sa klijentima. 

• Nudimo čitav niz usluga visoke kvalitete u Centralnoj i Istočnoj Evropi 

• Kao članica RZB Grupacije usko sarađujemo sa Raiffeisen Zentralbank i drugim članicama 

austrijske Raiffeisen Banking Group. 

• Postižemo održiv i nadprosječan povrat na kapital. 

• Ohrabrujemo naše radnike da budu poduzetni i da pokažu incijativu a mi potičemo 

njihov razvoj.

the EBRD, IFC and the RZB Group look back at 

numerous cooperations in Central and Eastern 

Europe which ultimately lead to IFC’s equity commitment 

in Raiffeisen International, investing 

€ 100 million in October 2004. 

RZB Group & Raiffeisen International 

- 

***** The European Bank for Reconstruction 

and Development (EBRD), London, is owned by 

60 governments and two intergovernmental institutions 

and aims to foster the transition from centrally 

planned to market economies in Central and Eastern 

Europe and the Commonwealth of Independent 

States. In October 2004, the EBRD became a 

shareholder of Raiffeisen International by increasing 

the company’s equity by € 100 million. 

Raiffeisen International’s Vision and Mission Statement 

Vision 

Raiffeisen International Group is the leading banking group in Central & Eastern Europe. 

Mission 

• We seek long-term customer relationships. 

• We provide a full range of highest quality financial services in Central & Eastern Europe. 

• As a member of the RZB Group we co-operate closely with Raiffeisen Zentralbank and the 

other members of the Austrian Raiffeisen Banking Group. 

• We achieve sustainable and above-average return on equity. 

• We empower our employees to be entrepreneurial and to show initiative and we foster their 

development. 


17

Raiffeisen BANK d.d. Bosna i Hercegovina 

Raiffeisen BANK d.d. 

Bosna i Hercegovina 


Raiffeisen BANK d.d. Bosna i Hercegovina je subsidijarno lice Raiffeisen International Bank- 

Holding AG (Raiffeisen International), u potpunosti konsolidovanog subsidijarnog lica Raiffeisen 

Zentralbank Österreich AG (RZB). S druge strane, RZB je centralna institucija austrijske Raiffeisen 

Banking Group (RBG), najveće bankarske grupacije u Austriji. 

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 na preko jednu milijardu 

KM, te značajno proširila svoju poslovnu mrežu. 

Vlasnička struktura Raiffeisen BANK dd Bosna i Hercegovina: 

Raiffeisen International Bank-Holding AG 96,97% 

Millenia Beteiligungsverwaltungs GmbH 3,00% 

Ostali dioničari 0,03% 

Raiffeisen banka je sa 31.12.2004. godine svoje poslove obavljala u 61 poslovnoj jedinici, sa 

1.106 zaposlenih. 

Mnogobrojna, kako međunarodna tako i domaća priznanja, dokaz su uspješnog poslovanja 

Banke. Neka od njih su: Global Finance – “Najbolja banka u BiH”, The Banker – “Banka 

godine”, zatim nagrade Finance Central Europe-a, te domaćih magazina “Banke” i “Prizma”. 

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, Raiffeisen Brokers i Raiffeisen Leasing. 

Članice Raiffeisen grupacije u BiH koriste internacionalni Raiffeisen logo koji 

se sastoji od dvije stilizirane ukrštene glave konja, simbola 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.

Raiffeisen BANK d.d. 

Bosnia and Herzegovina 

Raiffeisen BANK d.d. Bosnia and Herzegovina 

Raiffeisen BANK dd BiH is a subsidiary of Raiffeisen International Bank-Holding AG (Raiffeisen 

International), a fully consolidated subsidiary of Raiffeisen Zentralbank Österreich AG (RZB). RZB 

in turn is the central institution of the Austrian Raiffeisen Banking Group (RBG), the country’s most 

powerful banking group. 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 96,97% 

Millenia Beteiligungsverwaltungs GmbH 3,00% 

Other shareholders 0,03% 

As of December 31, 2004 Raiffeisen Bank has been performing its business operations through 

61 business units and has 1,106 employees. 

Proofs of the Bank’s successful business are many international and local awards. Some of them 

are Global Finance – “The Best Bank in B&H”, The Banker – “Bank of the Year”, awards by 

Finance Central Europe and by local magazines Banke and Prizma. 

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, Raiffeisen Brokers and Raiffeisen Leasing. 

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. 


19


Edin Muftić 

Direktor / Chief Executive Officer

Uprava Banke 

Bank Management 


21


Zdenko Mihajlović 

Izvršni direktor / Executive Director 

Ognjen Samardžić 

Izvršni direktor / Executive Director


23


Michael Müller 

Izvršni direktor / Executive Director 

Dino Osmanbegović 

Izvršni direktor / Executive Director


25

Organizaciona struktura banke 

Organisation Structure of the Bank 



27

Sektor za poslovanje sa pravnim licima 

Sektor za poslovanje 

sa pravnim licima 


Tokom 2004. godine Banka je nastavila realizaciju srednjoročne strategije u pravcu širenja baze 

klijenata, povećanju kreditno-garantnih i platno-depozitnih poslova, zadržavanju tržišne pozicije, 

unapređenju postojećih i razvoju novih proizvoda i usluga. 

Na ukazano povjerenje klijenata u poslovanju sa Bankom ukazuje i porast broja klijenata od 25% u 

odnosu na kraj prethodne 2003. godine. U 2004. godini, nastavljene su aktivnosti na izradi novih 

i prilagođavanju postojećih proizvoda, prema zahtjevima i potrebama klijenata. Naime, Raiffeisen 

BANK je prva banka u BiH koja je razvila sasvim novi proizvod - “Aval mjenica u zemlji i prema 

inostranstvu”. Time je omogućeno da klijenti koristeći ovaj proizvod povećaju svoju tekuću likvidnost, 

prodaju, a zatim koriste popuste, rabate i sl. 

Za klijente koji imaju transakcijski račun, Banka je tokom 2004. godine razvila proizvod pod 

nazivom „Overdraft“ - dozvoljeno prekoračenje po transakcijskom računu i time proširila lepezu 

svojih proizvoda. Svoju ponudu dugoročnih kredita Banka je proširila nastavkom uspješne saradnje 

sa uglednim međunarodnim finansijskim institucijama kao što su EBRD, KfW, te Svjetska banka. 

U cilju zadovoljavanja potreba klijenata, Banka je segmentirala klijente na: velika, srednja i mala 

preduzeća, finansijske institucije i javni sektor, te počela sa procesom dizajniranja i implementacije 

modela usluga za svaki od ovih segmenata. 

Osim učešća u sindiciranim i pojedinačnim kreditima usmjerenim na finansiranje javnog sektora, 

velikih i srednjih preduzeća, kao i kreiranju i pružanju visokokvalitetnih usluga internacionalnim 

kompanijama, Banka se fokusirala na razvoj standardizovanih proizvoda namijenjenih malim 

preduzećima - SME, čija je karakteristika jednostavna procedura odobravanja i kratka realizacija 

kredita. 

Banka je u 2004. godini pružila podršku u realizaciji nekoliko značajnijih projekata i to: 

• Investicioni projekat u inostranstvu, 

• pokretanja i proširenja domaće proizvodnje u prehrambenoj industriji i u proizvodnji 

kućanskih aparata, 

• podrška otvaranju trgovačkih centara, 

• izgradnja infrastrukture (koji su baza daljnjeg privrednog razvoja zemlje), 

• podsticaj razvoja poljoprivrede širom BiH. 

Depozitno-platni poslovi korporativnih klijenata 

Dominantni proizvodi koje su klijenti koristili u 2004. godini su razne vrste depozitnih proizvoda 

(a vista, oročeni, namjenski depoziti, escrow račun). Sigurnost deponovanja sredstava, mogućnost 

kratkoročnog i dugoročnog oročavanja, obračun i isplata kamate svakog mjeseca, stimulativni 

uslovi dugoročnog oročavanja novčanih sredstava i dr. razlozi su značajnog povećanja depozitnih 

poslova pravnih lica i to za 54%, odnosno za 241,5 miliona KM u odnosu na prethodnu 2003. 

godinu. 

Banka je ponudila svojim klijentima cjelovit platno-prometni servis, u okviru domaćeg i 

međunarodnog platnog prometa, zasnovanog na savremenim tehnološkim rješenjima (RBBHnet 

internet bankarstvo za pravna lica). Kao potvrda navedenom, nekamatonosni prihodi za 2004. 

godinu iznose 19,0 miliona KM što predstavlja povećanje od 20% u odnosu na nekamatonosne prihode 

za 2003. godinu.

Corporate Banking Division 

During 2004 the Bank continued with realisation of mid-term strategy towards expansion of customer 

base, increase of credit-guarantee and payment-deposit operations, retaining of market position, 

improvement of existing and creating of new products and services. 

The fact that number of customers increased by 25% in comparison to the end of 2003, shows that 

customers placed their trust in the Bank. Activities regarding creation of new and adaptation of 

existing products according to requirements and needs of customers continued in 2004. Namely, 

Raiffeisen BANK is the first bank in BiH which developed a brand new product – “Inward and outward 

avalising of B/Es”. This product enabled the customers to increase their current liquidity, sales, 

use discounts etc. 

During 2004 the Bank has developed a product called “Overdraft” (overdraft approved on transaction 

account) for those customers who have transaction accounts and thereby also expanded the 

assortment of its products. The Bank expanded its offer of LT loans by continuing successful co-operation 

with esteemed international financial institutions such as EBRD, KfW, and World Bank. 

In order to meet customers’ needs, the Bank has segmented customers into: large, medium and 

small enterprises, financial institutions and public sector and it has also started with process of 

designing and implementing model service for each of those segments. 

Besides participating in syndicated and individual loans directed to financing of public sector, large 

and medium enterprises, as well as in creating and rendering high quality services to international 

companies, the Bank has focused to development of standardised products created for small companies 

– SMEs, whose characteristic is simple approval procedure and short disbursement of loan. 

In 2004 the Bank provided funds for several important projects and these are the following: 

• Investment project abroad, 

• Starting and expanding local production in food product industry and production of 

household appliances, 

• Building trade centres, 

• Infrastructure construction 

(which is basis for further economic development of the country), 

• Encouraging of agricultural development throughout BiH. 

Deposit-payment operations of corporate customers 

Corporate Banking Division 

Dominant products that customers used during 2004 are various kinds of deposit products 

(demand, fixed-term, special purpose deposits, escrow account). The reasons for significant increase 

of corporate deposit business, i.e. by KM 241,5 mio in relation to 2003, are safety during funds 

depositing, possibility for ST and LT depositing, interest calculation and payment on monthly basis, 

encouraging conditions for LT depositing of cash funds etc. 

The Bank offers all payment services to its customers within local and international payments, based 

on modern technological solutions (RBBHnet internet banking for corporates). Confirmation of the 

above mentioned facts is non-interest bearing income for 2004 which amounts to KM 19,0 mio and 

which presents an increase of 20% in comparison to non-interest bearing income for 2003. 


29

Sektor za poslovanje sa stanovništvom 

Sektor za poslovanje 

sa stanovništvom 


Štednja stanovništva 

Zadržati lidersku poziciju u segmentu depozitnog poslovanja sa stanovništvom, uz zaista pojačano 

djelovanje konkurencije, bio je pravi izazov za Banku tokom čitave 2004. godine. U tom smislu 

vođena je aktivna politika kamatnih stopa koja se prije svega ogleda u nastojanju da se tržišni 

trend pada pasivnih kamatnih stopa na depozite građana uspori što je moguće više i po cijenu 

većih kamatnih troškova za Banku. Uporedo sa navedenim, vođen je čitav niz aktivnosti koje su 

imale za cilj povećanje oročene štednje uz istovremeni porast učešća dugoročne štednje. 

Da je navedeno vrlo uspješno realizovano, govori porast depozita stanovništva za 

152.897.000,00 KM (78.175.000,00 EUR-a) što je povećanje od 26,21% u odnosu na 2003. 

godinu. Ovom treba dodati da oročena štednja bilježi rast od 24% u odnosu na kraj 2003. 

godine. Takođe, učešće dugoročnih depozita u oročenim depozitima je dostiglo 58% što je 

značajno povećanje u odnosu na prethodnu 2003. godinu kada je učešće ovih depozita iznosilo 

29%. 

Pravu ilustraciju za postignuti rezultat predstavlja i podatak da na Banku otpada 29,3% ukupnih 

depozita stanovništva kod komercijalnih banaka u BiH (raspoloživi podatak sa septembrom 2004. 

godine). 

Neutralni poslovi 

Razvoju ovog segmenta poslovanja tokom 2004. godine posvećena je značajna pažnja. Obzirom 

na kapacitete poslovne mreže, posebno se nastojalo povećati obim, pa samim tim i prihode od 

doznaka i mjenjačkih poslova. 

Usluga brzog slanja i primanja novca putem sistema Western Union-a je i dalje važna u okviru 

neutralnih poslova. Broj lokacija na kojima se pruža ova usluga dostigao je 335 što podrazumjeva 

43 nove lokacije u 2004. godini. Od toga je 10 lokacija u okviru mreže Banke, a 33 

lokacije se odnose na podzastupnike. Zahvaljujući broju lokacija, promociji i kvalitetnoj usluzi 

ostvareno je 154.163 transfera pa je tako održana visoka stopa rasta transakcija od 21% u 

odnosu na 2003. godinu. 

Potpisani su ugovori o obavljanju mjenjačkih poslova sa JODP za poštanski saobraćaj Republike 

Srpske - Srpske pošte i hotelima Bevanda d.o.o. Mostar i Meridian d.o.o. Velika Kladuša, s tim da 

se finansijski efekti novosklopljenih ugovora očekuju u 2005. godini. 

Kanali distribucije i kvalitet usluga 

U toku 2004. godine počela su sa radom 4 nova organizaciona dijela, što znači da je Banka na 

kraju poslovne godine imala ukupno 61 organizacioni dio. 

Sa 31.12.2004. godine Banka je imala 255 važećih protokola sa trgovcima o kreditiranju prodaje 

njihove robe fizičkim licima, te 127 protokola sa auto kućama o kreditiranju prodaje automobila 

fizičkim licima. Takođe, 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.

Retail Division 

Retail Savings 

In the course of the whole 2004, it was a true challenge for the Bank to keep the leading position 

in the segment of retail deposit business with significantly stronger activities of the competition. 

In these terms, an active interest rate policy was run, which reflected in the first place in 

attempts to slow down market trend of reducing interest rates on deposits of individuals as much 

as possible and even at cost of having higher interest costs for the Bank. At the same time, a 

whole range of activities was undertaken in order to increase fixed term savings with parallel 

increase in participation of long-term savings. 

The fact that retail deposits increased by KM 152,897,000.00 (EUR 78,175,000.00), which is 

an increase of 26,21% in comparison to 2003, indicates that the above mentioned was successfully 

fulfilled. Additionally, fixed term savings have recorded growth of 24% in comparison to the 

end of 2003. Also the participation of long-term deposits in fixed-term deposits has reached 58% 

which presents a significant increase in relation to 2003 when total participation of those deposits 

amounted to 29%. 

Also information that the Bank accounts for 29,3% of total retail deposit with commercial banks in 

BiH presents a real illustration for results achieved (available data as of September 2004). 

Fee-based business 

A significant attention was paid to development of this business segment during 2004. Considering 

the capacity of the business network, we were especially trying to increase the volume and 

thereby also income from remittances and FX business. 

Money transfer services through Western Union system is still important within fee-based businesses. 

Number of locations where this service is being provided has reached 335 which means there 

are 43 new locations in 2004. 10 of those locations are within Bank Network, and 33 locations 

refer to subagents. Due to number of locations, promotion and quality service 154,163 transfers 

were performed, so that the high growth rate of transactions of 21% was maintained in relation to 

2003. 

Agreements on performing FX business were signed with JODP for post services of Republika 

Srpska - Srpske pošte and hotels Bevanda d.o.o. Mostar and Meridian d.o.o. Velika Kladuša, 

whereby financial effects of newly concluded agreements are expected in 2005. 

Distribution channels and service quality 

During 2004, 4 new organisational units started operating, which means that the Bank had total 

61 organisational units at the end of the year. 

As of December 31st 2004 the Bank had 255 valid protocols with merchants on funding sales 

of their products to individuals and 127 protocols with car dealers on funding sales of cars to 

individuals. Also, some alternative distribution channels were included (public post operators and 

hotels). The above mentioned facts, with existing network of POS’s and ATM’s, qualifies us among 

leading banks in respect to distribution channels. 



31

Sektor za poslovanje sa stanovništvom 


Kao rezultat permanentnog kreiranja novih i izmjene parametara kod postojećih proizvoda, 

podizanja kvaliteta usluge u segmentu poslovanja sa stanovništvom, širenja poslovne mreže i drugih 

kanala distribucije u 2004. godini evidentirano je 64.165 novih klijenata. 

Kartično poslovanje 

Poslovna 2004. godina predstavlja još jednu dinamičnu i uspješnu godinu u razvoju kartičnog 

poslovanja na šta ukazuju postignuti rezultati na strani izdavanja i na strani prihvata kartica. 

Godina je završena sa ukupno izdatih 119.303 kartice, čime je ostvaren rast od 40,86% u odnosu 

na 2003. godinu. 

U toku 2004. godine mreža prihvata kartica proširena je sa novih 417 POS terminala i 13 ATMova, 

tako da je godina završena sa 1.596 POS terminala i 39 ATM-ova. Ukupan broj uspješno 

obrađenih transakcija u našoj prihvatnoj mreži u 2004. veći je u odnosu na 2003. godinu za 

83,14%. Pri ovome su transakcije plaćanja roba i usluga putem POS terminala rasle po stopi od 

138,77%, transakcije podizanja gotovine na ATM-ovima po stopi od 119,87%, a na POS terminalima 

po stopi od 27,78%. Kroz mrežu prihvata u 2004. godini u odnosu na 2003. godinu realizovano 

je povećanje od 52,89%. Promet po osnovu plaćanja roba i usluga putem POS terminala 

zabilježio je stopu rasta od 112,60%, dok je promet po osnovu podizanja gotovine na ATM-ovima 

rastao po stopi od 105,03% a na POS terminalima po stopi od 30,56%. 

Visok rast broja i vrijednosti transakcija u prihvatnoj mreži Banke tokom 2004. godine rezultat je 

ne samo proširenja mreže, nego i proširenja servisa kod trgovaca za prihvat Visa International 

kartica uz saznanje da je kod klijenata sve više prisutno poimanje kartice kao supstituta gotovine. 

Krajem godine Diners kartice su se prihvatale putem 149 naših POS terminala. Na ovaj način, 

omogućen je prihvat tri od četiri najpoznatija kartična brand-a na jednom POS-u. 

Radi dodatnog akviziranja klijenata, vršeno je smanjivanje naknada, pojednostavljenje uslova 

i procedura apliciranja i produženje roka važenja dozvoljenog prekoračenja po debitnim karticama. 

Ulogu Agenta za nacionalno poravnanje transakcija Visa International karticama nastalim u BiH, 

Banka je u toku 2004. godine uspješno obavila, što ujedno ukazuje na dobru saradnju sa bankama 

članicama i kartičnom organizacijom.

As result of continuous creating of new products and changing parameters with old ones, improving 

quality of services in the retail segment, expanding business network and other distribution 

channels, 64,165 new customers were recorded in 2004. 

Cards Business 

Business year 2004 presents another dynamic and successful year regarding development of card 

business, which indicate results achieved on the side of card issuing and acquiring. 

The year was completed with total 119,303 issued cards, whereby a growth of 40,86% was 

achieved in relation to 2003. 

During 2004 the card acquiring network was expanded with another 417 POS terminals and 13 

ATMs, so the year was completed with 1,596 POS terminals and 39 ATMs. Total number of successfully 

processed transactions in our acquiring network in 2004 is 83,14% higher in comparison 

to 2003. Thereby payment transactions for goods and services through POS terminals were growing 

at the rate of 138,77%, cash withdrawal transactions on ATMs at rate of 119,87%, and on 

POS terminals at rate of 27,78%. Through the acquiring network increase of 52,89% was recorded 

in 2004 in comparison to 2003. Turnover based on payments for goods and services through 

POS terminals recorded growing rate of 112,60%, while the turnover based on cash withdrawals 

on ATMs grew at rate of 105,03% and on POS terminals at rate of 30,56%. 

Large growth of number and value of transactions in the acquiring Bank Network was the result not 

only of network expansion during 2004, but also of expansion of services with merchants for acquiring 

of Visa International cards with the fact that customers observe card as substitution for cash. 

At the end of the year Diners cards were accepted through 149 our POS terminals. In this way 

acquiring of three of four the best known card brands on one POS was enabled. 

Fees were reduced and conditions, application procedure, extension of validity for approved overdraft 

on debit cards were simplified in order to attract additional customers. 

During 2004 the Bank successfully performed the role of Agent for national settlement of Visa 

International card transactions carried out in B&H, which indicates good co-operation with member 

banks and card organisations. 



33

Sektor sredstava i finansijskih tržišta 

Sektor sredstava 

i finansijskih tržišta 


Rad Sektora sredstava i finansijskih tržišta u 2004. bio je determinisan promjenama u zakonskoj 

regulativi u dijelu vođenja ročne usklađenosti aktive i pasive Banke, izmjenama u načinu 

obračunavanja i visini stope obavezne rezerve, izmjenama u dijelu upravljanja deviznim rizikom, 

kao i planiranim aktivnostima Banke u dijelu plasiranja sredstava. 

S ciljem održavanja liderske pozicije na tržištu u BiH, fokus aktivnosti u prošloj godini je bio pribavljanje, 

cjenovno i ročno prihvatljivih dodatnih izvora finansiranja za potrebe refinansiranja 

postojećeg i obezbjeđenje planiranog rasta portfelja stanovništva i pravnih lica. U 2004. godini 

ugovoreno je dodatnih 52 miliona EUR dugoročnih izvora, što je sa ranije ugovorenim kreditnim 

linijama i iskorišteno. Posebno ističemo da je u 2004. cjelokupan iznos sindiciranog kredita 

zaključenog sa EBRD u 2003. iskorišten za finansiranje privrednih subjekata u BiH, što ukazuje na 

činjenicu da je Banka prepoznala potrebe svojih klijenata. 

Saradnja sa supranacionalnim finansijskim institucijama, pored EBRD, u 2004. otpočela je i sa 

EIB-om. Krajem godine kreditni odbor EIB-a je odobrio finansiranje klijenata Banke i Raiffeisen 

Leasing-a u iznosu od 30 miliona EUR, a zaključenje ovog ugovora se planira okončati u prvom 

kvartalu 2005.godine. 

Tokom 2004. godine nastavljena je, pored RZB, odlična saradnja sa KFW i IFC te su zaključeni 

odgovarajući aranžmani za dugoročnu finansijsku podršku stanovništva i SME sektora. 

Za potrebe razvoja male komercijalne poljoprivrede, u 2004. zaključeni su ugovori sa Ministarstvom 

finansija FBiH, a sa Fondom za razvoj i zapošljavanje RS po projektu Svjetske banke 

zaključeni su ugovori za finansiranje privatnih preduzeća i opština na teritoriji RS. 

Razvoj poslovnih odnosa sa domaćim i stranim finansijskim institucijama odvijao se i u dijelu permanentne 

revizije korespondentne i kontokorentne mreže Banke. Slijedeći rastući nivo platnih transakcija 

primarni zadatak je bio udovoljiti, kvalitetno i troškovno, zahtjevima klijenata Banke. Liderska 

pozicija u dijelu poslovanja sa inostranstvom obezbjedila je Banci status partnerstva u pogledu odobrenja 

određenih benefita te rezultiralo smanjenjem troškova po ino-računima za oko 20%. 

U djelokrugu rada trgovine devizom i efektivom, pored činjenice da tržište u BiH preferira 

poslovanje sa partnerima iz EU, u 2004. ostvaren je obim kupoprodaja u visini od 4.460 miliona 

KM, što je za 20% više od obima u 2003. godini. U nedostatku tržišta novca u BiH, kratkoročno 

plasiranje viška sredstava vršeno je kod prvoklasnih ino-banaka. Konačno, u 2004. ostvareni 

prihod po osnovu trgovine devizom i efektivom i plasiranja sredstava je za 18% veći u odnosu na 

plan. 

Značajna liderska pozicija u BiH zadržana je i u vođenju depozitarskih poslova za DUF- ove, PIFove, 

brokerske kuće i emitente vrijednosnih papira. Ostvarena naknada po ovim poslovima je 

veća za 105% od planiranih pozicija. 

Visok nivo odgovornosti, timski rad, permanentna edukacija i usvajanje novih znanja omogućili 

su realizaciju zadatih ciljeva Sektora sredstava i finansijskih tržišta u 2004. godini.

Treasury and Financial 

Market Division 

Treasury and Financial Market Division 

In 2004 activities of the Treasury and Financial Market Division were determined by changes in 

legal regulations in the section related to maturity matching management of assets and liabilities of 

the Bank, by changes in manner of calculation and rate of mandatory provisions, by changes in the 

section related to FX risk management, as well as by activities of the Bank on funds placement. 

In order to retain the leading position in the BiH market, last year activities were focused on 

providing additional resources acceptable by price and maturity with purpose to refinance existing 

and to ensure planned growth of retail and corporate portfolio. Additional EUR 52 mio of LT 

resources were arranged in 2004, which was utilised through previously arranged credit lines. 

Especially we would like to emphasise that total amount of syndicated loan concluded with EBRD 

in 2003 was used to finance corporates in BiH, which indicates the fact that the Bank has recognised 

needs of its customers. 

Co-operation with supranational financial institutions, besides EBRD, also started with EIB in 

2004. By the end of year the Credit Committee of EIB approved financing of Bank’s and Raiffeisen 

Leasing’s customers in the amount of EUR 30 mio, and finalisation of agreement conclusion 

is planned for the first quarter 2005. 

Besides with RZB, we have also continued with great co-operation with KFW and IFC during 2004 and 

appropriate arrangements were made for long-term financial support to retail and SME divisions. 

Agreements for development of small commercial agriculture were concluded with the Ministry of 

Finance of FBIH in 2004 and agreements for financing of private-owned companies and municipalities 

in RS were concluded with the Fund for development and employment within the project of 

the World Bank. 

Development of business relations with local and international institutions occurred also in the 

section of constant audit of correspondent and current account network of the Bank. Following 

the increasing level of payments, the primary task is to meet, by quality and costs, requirements of 

the customers of the Bank. The leading position in international business has provided the Bank 

status of partnership in terms of approving certain benefits and resulted in cost reduction on international 

accounts by ca 20%. 

Besides the fact that the BiH market prefers to run business with EU partners, purchase volume 

was achieved in the amount of KM 4.460 mio in 2004 in the scope of FX and bank notes trade, 

which is 20% more in comparison to the volume of 2003. Due to lack of money market in BiH, 

short-term placement of surplus of funds was performed with first class international banks. Finally 

in 2004, income accrued on the basis of FX and bank notes trade and funds placement is 18% 

higher compared to the budget. 

Significant leading position in BiH is retained also in the field of running depository business for 

Fund Management Companies and Privatisation Investment Funds, brokerage houses and issuers of 

securities. Income accrued on the basis of those operations is 105% higher than planned positions. 

High level of responsibility, team work, constant training and adoption of new skills enabled realisation 

of objectives set by Treasury and Financinal Markets Division in 2004. 


35

Sektor za finansije i računovodstvo 

Sektor za finansije 

i računovodstvo 


Poslovi koji se obavljaju u Sektoru za finansije i računovodstvo uključuju: vođenje računa - nivo 

glavne knjige, njihovo funkcionalno povezivanje i usklađivanje, troškovno knjigovodstvo i plaćanje 

obaveza, knjigovodstveno izvještavanje svih nivoa korisnika, svi poslovi finansijske operative, 

interni odnosi Centrala - filijale. 

Sektor je podijeljen na tri odjeljenja: 

• Odjeljenje za računovodstvo i finansijsko izvještavanje; 

• Odjeljenje za finansijsku operativu; 

• Odjeljenje za odnose sa filijalama; 

Odjeljenje za računovodstvo i finansijsko izvještavanje 

U ovom odjeljenju se usklađuju analitička konta sa stanjem sintetike, prate dozvoljena stanja 

svakog računa, ukazuje na eventualne nelogičnosti stanja i kod nadležnih službi insistira na njihovom 

otklanjanju. 

Sastavljaju se računovodstveni izvještaji za potrebe regulacionih organizacija, izvještaji za potrebe 

državnih organa, za potrebe vlasnika i interne potrebe. 

U ovom odjeljenju u 2004. godini, za navedene korisnike, sačinjeno je 620 izvještaja. 

Odjeljenje za finansijsku operativu 

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

izmiruju obaveze po raznim osnovama. 

U 2004. godini broj likvidiranih faktura i provedenih internih naloga iznosio je 12.690. 

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 2004. godini proknjiženo 50.000 promjena.

Finance and Accounting 

Division 

Operations performed in the Finance and Accounting Division include: account servicing – general 

ledger level, their functional interconnection and harmonisation, cost accounting and payment 

of liabilities, reporting of all levels of beneficiaries, all financial operations, internal relations HO 

- branches. 

The division consists of: 

• Accounting and Financial Reporting; 

• Financial Operations; 

• Branch Relations; 

Accounting and Financial Reporting 

The department performs harmonisation of subledger accounts with synthetic balance, monitors 

the approved balance on each account, indicates possible illogical balances and insists on their 

removal with the competent departments. 

They compile accounting reports for regulatory organisations, state authorities, for owners’ and 

internal needs. 

In this department 620 reports were produced for the above mentioned beneficiaries in 2004. 

Financial Operations 

Operations performed within this department consist of cost accounting and recording of tangible 

assets. They also perform recording and settlement of liabilities on different bases. 

Number of settled invoices and executed internal orders amounted to 12,690 in 2004. 

Branch Relations 

Finance and Accounting Division 

The branches render services for customers in their own areas on the basis of authorisations 

issued by the head-office. Functional relationship between the Head-office – branch – Head-office 

is being established in this Department through accounts of in-house relations. Business events 

are being registered and their removal is being executed for needs of balance positions of the 

Bank in the final statements. The department made more than 50,000 book entries in 2004. 


37

Sektor podrške i platnog prometa 

Sektor podrške 

i platnog prometa 


Prateći ustanovljene ciljeve banke i tokom 2004. godine Sektor podrške i platnog prometa je 

fokus svojih aktivnosti usmjerio na što efikasnije procesiranje transakcija platnih prometa 

(međunarodnog i unutrašnjeg) uz maksimalnu kontrolu troškova. 

Iz domena kreditno/depozitnog poslovanja pravnih lica zaokruženi su brojni projekti koji su 

doprinijeli kvalitetu i transparentnosti čitavog seta podataka kojima se služe mnoge funkcije u 

banci. 

Najznačajniji projekat, od vitalnog značaja, ne samo za Sektor, nego za ukupno poslovanje 

banke sa pravnim licima, bio je radikalan zahvat na šifarniku pravnih lica - klijenata banke u 

core sistemu. Bio je to zaista izuzetno kompleksan projekat, trajao je gotovo godinu dana, ali 

rezultati su više nego zadovoljavajući. 

Ovaj projekat je bio od iznimne važnosti za uspješno uključivanje banke u Jedinstveni registar 

računa pri Centralnoj banci BiH (obavezan projekat na državnom nivou), zatim za uspješno 

segmentiranje klijenata na korporativne i SME klijente, te segmentiranje klijenata po rizičnosti, što 

je bio zahtjev eksternih kontrolnih organa nadležnih za sprečavanje pranja novca i fanansiranja 

terorizma. 

Ovim projektom se takođe omogućila i sistemska kontrola kod transakcija prinudne naplate po 

izvršnim poreskim i sudskim rješenjima, mjenicama. 

Dakle, primjena zakonske regulative u banci nije prepuštena samo ljudskom faktoru nego je 

čitavim nizom uvezanih sistemskih kontrola omogućila visok procenat sigurnosti da je poslovanje 

usklađeno sa setom najznačajnijih zakonskih propisa u poslovanjima sa pravnim licima. 

Još jedan značajan projekat u nadležnosti ovog sektora zaokružen je u 2004. godini. 

Migracija na SWIFT NET platformu obavljena je samostalno od strane naših SWIFT administratora, 

bez plaćene pomoći stranih konsultantskih kuća, te je time ostvarena značajna ušteda za 

banku, a mlade kolege su ovladale novim znanjima koja im i te kako koriste pri upravljanju sistemom 

i prilikom nadzora nad razmjenom SWIFT poruka. 

Međunarodni platni promet 

Broj platnih transakcija u međunarodnom platnom prometu je veći za 27,6% u odnosu na 

2003. godinu ali ovo nije rezultiralo povećanjem broja ljudi u odjeljenju. To se postiglo stalnim 

unapređenjem organizacije posla, unapređenjem stepena automatizacije i što je najznačajnije 

izuzetnim entuzijazmom i zalaganjem uposlenih. 

Kao poseban doprinos poboljšanju kvaliteta usluge u ovom segmentu poslovanja, početkom 

2004. izdvojena je grupa izuzetno kvalitetnih radnika čiji je osnovni zadatak unapređenje 

poslovanja u međunarodnim plaćanjima, a dodatni akcenat je stavljen na stalni edukativno/kontrolni 

rad sa filijalama, gdje platne transakcije počinju (kod plaćanja u inostranstvo), i završavaju 

(kod naplata iz inostranstva). 

Ovaj vid saradnje je zaista rezultirao značajnim unapređenjima kvaliteta poslovanja, a koristi su 

bile obostrane kako za mrežu tako i za Sektor.

Central Processing Division 

Following the objectives set by the Bank, during 2004 the Central Processing Division focused its 

activities on processing of payment transaction as efficient as possible (domestic and international) 

and with maximum cost control. 

Many projects are completed in the scope of credit/deposit business with corporates which contributed 

to the quality and transparency of the whole set of data which many functions in the Bank use. 

The most significant and crucial project, not only for the Division but for the overall business 

operations of the Bank with corporates, was the radical intervention on corporate customer ledger 

in the core system. It was an extremely complex project and it was carried through almost a year, 

but results were more than satisfying. 

This project was of an extreme importance for successful involvement of the Bank into Unified 

Account Register with the Central Bank BiH (mandatory project at the state level), for successful 

customer classification into corporate and SME customers, and customer classification by risk 

degree, which was an assignment set by external control authorities in charge of anti-money laundering 

and financing terrorism. 

This project has also enabled systematic control with enforcement transactions by executed tax 

and court rulings, B/Es. 

Therefore applying legal regulations in the Bank is not left only to the human factor but it ensured 

high percentage of security through whole range of connected systematic controls, so the business 

operations are harmonised with the whole set of the most significant legal regulations in corporate 

banking. 

Another significant project was completed within responsibility of this Division in 2004. 

The migration to SWIFT NET platform was performed independently by our SWIFT administrators, 

without paying assistance to consulting companies, which means that significant savings were 

made for the Bank, and our young colleagues acquired new skills which are more than useful in 

system management and monitoring of SWIFT message exchange. 

International payment transactions 

Number of international payments is 27,6% higher in comparison to 2003 but this did not result 

in increase of headcount in department. It was achieved by constant improvement of business 

organisation, automatisation degree and, as the most important, by extreme enthusiasm and 

commitment of employees. 

As a special contribution to quality improvement in this business segment a group of extremely 

quality employees was separated at the beginning of 2004, whose basic task was to improve 

business operations in international payments, and additional accent was on constant training/control 

work with branches, where payments start (outward payments) and end (inward payments). 

This kind of co-operation resulted in significant improvement of business quality, and benefits 

were mutual, both for network and Division. 



39



Jedan od vidljivih rezultata ovih aktivnosti je taj da je na ino-plaćanjima stepen usklađenosti sa 

STP standardima naših korespondenata, naročito u drugoj polovici godine, dostigao procenat od 

90 pa čak i do 99%. 

Postoji nezvaničan ali iz meritornih izvora plasiran podatak da se u najrazvijenijim zemljama 

evrope i SAD ovaj procenat kreće između 70 - 80%. 

Ovakvo dostignuće je značajno redukovalo troškove poslovanja banke jer inostrani korespondenti 

svako non STP plaćanje dodatno naplaćuju, a visina ovih troškova nije nimalo beznačajna pri 

velikom broju naloga. 

U oblasti finansiranja trgovine u toku 2004. u ovom sektoru je izdato i administrirano 4.320 

garancija te 485 dokumentarnih akreditiva. Stepen naplate kvartalnih provizija o kome se brine 

ova grupa je tokom cijele godine bio iznad 90%. 

Back Office Sektora sredstava i finansijskih tržišta koji funkcioniše pri ovom odjeljenju je 

takođe u ovoj godini značajno intenzivirao broj transakcija koje prate aktivnosti tržišta novca 

(međubankarski transferi te adekvatne kontrole i knjigovodstvene evidencije). Ova grupa je u 

više navrata pohvaljena od eksternih kontrola i revizija za izvanredno ažurno i tačno vođenje i 

usaglašavanje stanja sredstava banke na računima u inostranstvu. 

Neophodno je istaći da nerezidentni i drugi specijalni računi koji se administriraju pri ovom 

odjeljenju bilježe stalni rast broja transakcija te prihoda iz ovog osnova. Iako se aktivnosti 

međunarodnih organizacija u BiH od poratnog perioda iz godine u godinu smanjuju, ova 

činjenica, na sreću, nije još uvijek narušila trend uspješnosti ove grupe. 

Trend izvjesnog smanjenja aktivnosti međunarodnih organizacija i sve manje inostranih donacija 

kompenzira se sve aktivnijim radom depozitnih računa ovlaštenih brokerskih kuća tako da je opšti 

trend ipak pozitivan. 

Unutarnji platni promet 

Unutarnji platni promet je 2004. godinu završio sa 4.805.894 dolaznih transakcija u vrijednosti 

od 4.244.913.276 KM. Broj od 1.967.964 odlaznih transakcija u vrijednosti 3.989.412.949 KM 

otpremljeno je na druge domaće banke sistemom RTGS i GC, a unutar mreže RBBiH isprocesirano 

je 1.744.255 transakcija u vrijednosti od 6.199.983.545 KM. 

Iako pomenuti broj predstavlja povećanje broja isprocesiranih transakcija od cca 33,7% u odnosu 

na 2003. godinu, u odjeljenju UPP-a u Centrali to nije rezultiralo povećanjem broja radnika, 

nego se ukupan posao savladao intenzivnim radom na maksimalnoj automatizaciji procesa, 

prekovremenim radom, ponekad i u tri smjene. 

Dobar znak je stalno povećanje udjela broja i obima internih transakcija u ukupnom platnom 

prometu banke, što znači da se jedan značajan dio ovih poslova obavlja bez uključivanja u sistem 

GC i RTGS , dakle na ovom dijelu prometa nemamo troškove Centralne banke BiH koja je u ovoj 

godini značajno povećala cijenu usluga ovih servisa.

One of visible results of those activities is that harmonisation degree of international payments 

with STP standards of our correspondents reached the percentage of 90% and even 99% especially 

in the second half of the year. 

There is unofficial information, which was launched from competent sources, saying that in the 

most developed countries in Europe and USA this percentage is between 70-80%. 

Such achievement significantly reduced business costs of the Bank since international correspondents 

additionally charge for each STP payment, and amount of those costs is far from insignificant 

in relation to large number of orders. 

In the field of trade finance 4320 L/Gs and 485 L/Cs were issued and administrated during 2004 

in this Division. Collection degree of quarterly commissions, for which this group is responsible, 

was above 90%. 

Back Office of the Treasury and Financial Market, which operates within this Department, has also 

significantly intensified number of transactions which follow activities on the money market (interbanking 

transfers and adequate controls and bookkeeping records). This group was praised on 

several occasions by external controls and audits for extremely prompt and accurate management 

and harmonisation of assets balance of the Bank on accounts abroad. 

It is necessary to emphasise that non-resident and other special accounts administrated in this 

department record a constant growth in number of transactions, as well as of income on this basis. 

Although activities of international organisations in BiH reduce from year to year in the post-war 

period, this fact, fortunately, still did not disturbed successful trend of this group. 

Trend of certain reduction of international organisations activities and decrease in international 

donations is being compensated through more and more active deposit accounts of authorised 

brokerage houses, so the general trend is still positive. 

Domestic payments 

Domestic payments ended with 4, 805, 894 inward transactions in 2004 in the amount of 

KM 4, 244, 913, 276. 1,967,964 outward payments in the value of KM 3,989,412,949 were 

directed to other local banks through the RTGS and GC system, and within RBBH 1.744.255 

transactions in the value of KM 6,199,983,545 were processed. 


Although the above mentioned number presents increase in number of processed transactions by 

ca 33,7% in relation to 2003, in the Department for domestic payments in the HO this did not 

result in increase of number of headcount, but the overall operations were managed by intensive 

work on maximum process automatisation, overtime, and sometimes even in three shifts. 

Constant increase in number and volume of internal transactions in the overall payments of the 

Bank is a good sign, which means that significant part of those operations is being performed 

without connecting into the GC and RTGS system, which means that we do not have costs of the 

Central Bank BiH in this part of payments that significantly increased its price for those services. 


41



Za ovaj uzlazni trend internih plaćanja unutar mreže možemo zahvaliti dobroj strategiji širenja 

mreže u cijeloj BiH, tako da naši klijenti prepoznaju da efikasno plaćanje mogu vršiti iz jednog 

dijela države u drugi po znatno nižoj cijeni ako ohrabre svoje partnere da i oni otvore račun u 

nekoj od filijala naše banke. 

Važno je istaći da je najveći dio tereta na uspješnom projektu nove aplikacije šifarnika pravnih 

lica u RBBiH - koji je detaljnije opisan u uvodu - ponijela Grupa za razvoj platnih sistema pri 

odjeljenju UPP-a. Unutarnji platni promet je segment poslovanja banke koji najviše trpi zbog 

čestih promjena u zakonskoj regulativi zemlje. 

Nažalost i 2004. godinu je obilježilo intenzivno mijenjanje zakonskih propisa u Bosni i Hercegovini 

i sva tri njena administrativna dijela (Federacija BiH, Republika Srpska i Brčko Distrikt). 

Problem “kako pravilno implementirati prilično neusaglašene i nekompatibilne zakone u platnom 

prometu RBBiH” pokazao se u stvari kao daleko teži zadatak, nego se nositi sa fizički povećanim 

brojem transakcija. 

Ostaje nada da će se ova zakonska transformacija države jednom u bliskoj budućnosti 

zaokružiti, pa da će se izvanredna i zaista izuzetno kompetentna ekipa stručnjaka iz ovog 

odjeljenja moći bez smetnji posvetiti onom dijelu posla koji donosi zaradu. 

2005. godina sigurno će biti “burna” u smislu utrke usklađivanja sa zakonskom regulativom jer je 

krajem 2004. banka na tenderu izabrana za jednu od banaka Uprave za indirektno oporezivanje 

BiH - za servisiranje računa na kojima se prikupljaju porezi na državnom nivou - što je prvi korak 

za uvođenje PDV-a. Pretpostavlja se da će ovim slijedom skok u broju transakcija biti impozantan 

i u 2005. 

Administracija kredita i depozita pravnih lica 

Ovo je odjeljenje koje u sebi objedinjuje kontrolnu funkciju kreditne dokumentacije, njene 

usaglašenosti sa odlukom kreditnog odbora, usvojenim procedurama te bazom podataka evidentiranih 

u sistemu, a prije isplate kreditnih sredstava na račun klijenta sa jedne strane i sa druge 

strane funkciju dnevnog procesiranja svih transakcija vezanih za: 

• kredite pravnih lica 

• oročene depozite pravnih lica, 

• kreditne linije koje je banka uzela od inozemnih finansijskih institucija. 

Grupa pored toga kreira i distribuira čitav set analitičkih izvještaja kojima se koriste funkcije 

fronta i riska pri upravljanju zaista impozantnim portfeljom koji je u stalnom porastu. 

Potrebe za različitim vrstama izvještaja i analiza u ovom segmentu se dnevno umnožavaju i 

usložnjavaju, ali ovo odjeljenje se za sada uspješno nosi sa ovim, prilično kompleksnim zadatkom. 

Podjela klijenata pravnih lica na Korporativne i SME klijente koja je izvršena sredinom 2004. 

je novo organizacijsko/proceduralno iskušenje za uposlenike ovog odjeljenja.

We may thank to good strategy of network expansion throughout BiH for this input trend of internal 

payments within the network, so that our customers recognise that efficient payment can be 

performed from one part of state to another at significantly lower price if they encourage their 

partners to open an account with one of our branches. 

It is important to emphasise that most of burden in successful new application project of corporate 

account ledger in RBBH – which is in more details described in introduction – was carried by the 

Group for development of payment systems with the Domestic payments department. Domestic 

payments department is a segment of Bank’s operations which suffers mostly because of frequent 

changes in the legal regulations of the country. 

Unfortunately, 2004 was marked by intensive changing of legal regulations in BiH and in all three 

administration units in the country (Federation of BiH, Republika Srpska and District Brcko) 

The problem “how to implement rather mismatched and incompatible legal regulations in payments 

of RBBiH properly” has turned to be far more difficult assignment than physically dealing 

with increased number of transactions. 

Still there is hope that this legal transformation of the state will be finalised once in the near 

future, so our extraordinary and extremely competent team of experts from this department could 

dedicate themselves without interruptions to those operations which make profit. 

2005 will certainly be “stormy” in terms of competing with harmonisation of legal regulations 

since: In the bidding at the end of 2004 the Bank was chosen as one of banks of Indirect Tax 

Authority of BiH - for account servicing where taxes from the state level are being collected - 

which is the first step for introducing VAT. It is assumed that number of transaction will be impressive 

also in 2005 at this rate. 

Loan administration and corporate deposits 

This department includes control function of credit documentation and its matching with: 

CC decision, adopted procedures and data base in the system before disbursement of loan funds 

to the customer account on one side and function of daily processing of all transactions on the 

other side related to 

• Corporate loans 

• Corporate term deposits, 

• Credit lines that the bank took from international financial institutions. 

Besides this, the Group also creates and distributes a whole range of analytic reports which front 

office functions and risk use for management over rather impressive portfolio which is constantly 

growing. 

Need for different types of reports and analyses in this segment are growing and getting more 

and more complex on daily basis, but so far this department handles this, rather complex, task 

successfully. 

Separation of corporate customers into corporate and SME customers which was performed by 

mid 2004 is a new organisational/procedural challenge for employees of this department. 



43

Bilans stanja 

Bilans stanja 

Na dan 31. decembra 2004. i 2003. 


2004. 

000 KM 

2004. 

000 EUR 

2003. 

000 KM 

2003. 

000 EUR 

Aktiva 

Novac i sredstva kod banaka 149,011 76,188 75,561 38,634 

Obavezna rezerva kod Centralne Banke 182,955 93,543 58,063 29,687 

Plasmani kod drugih banaka 582,900 298,032 386,612 197,671 

Krediti iz sredstava banke 1,051,733 537,742 803,350 410,745 

Kupljeni krediti koji se drže do dospijeća 1,136 582 4,216 2,155 

Potraživanja za obračunatu kamatu 6,003 3,069 4,982 2,547 

Ulaganja 4,879 2,495 3,211 1,642 

Ostala imovina 26,907 13,757 25,799 13,191 

Neto dugotrajna materijalna i 

nematerijalana imovina 34,471 17,625 26,269 13,431 

UKUPNA AKTIVA 2,039,995 1,043,033 1,388,063 709,703 

Obaveze 

Obaveze prema drugim bankama 435,631 222,735 231,248 118,235 

Obaveze prema klijentima 1,396,340 713,937 1,016,093 519,518 

Rezervisanja za preuzete i 

potencijalne obaveze 12,023 6,147 8,879 4,540 

Ostale obaveze 20,198 10,327 10,850 5,547 

Subordinirani dug 42,050 21,500 29,337 15,000 

UKUPNE OBAVEZE 1,906,242 974,646 1,296,407 662,840 

Vlasnička glavnica 

Dionički kapital 73,306 37,481 49,306 25,210 

Rezerve i zadržana dobit 60,447 30,906 42,350 21,653 

UKUPNA VLASNIČKA GLAVNICA 133,753 68,387 91,656 46,863 

UKUPNE OBAVEZE I VLASNIČKA GLAVNICA 2,039,995 1,043,033 1,388,063 709,703

Balance Sheet 

As of 31 December 2004 and 2003 

2004 

000 KM 

2004 

000 EUR 

2003 

000 KM 

2003 

000 EUR 

Assets 

Cash and due from banks 149,011 76,188 75,561 38,634 

Obligatory reserve with the Central Bank 182,955 93,543 58,063 29,687 

Placements with other banks 582,900 298,032 386,612 197,671 

Loans originated by the Bank 1,051,733 537,742 803,350 410,745 

Purchased loans held to maturity 1,136 582 4,216 2,155 

Accrued interest receivable 6,003 3,069 4,982 2,547 

Investments 4,879 2,495 3,211 1,642 

Other assets 26,907 13,757 25,799 13,191 

Fixed and intangible assets 34,471 17,625 26,269 13,431 

TOTAL ASSETS 2,039,995 1,043,033 1,388,063 709,703 

Liabilities 

Due to banks 435,631 222,735 231,248 118,235 

Due to customers 1,396,340 713,937 1,016,093 519,518 

Provisions 12,023 6,147 8,879 4,540 

Other liabilities 20,198 10,327 10,850 5,547 

Subordinated debt 42,050 21,500 29,337 15,000 

TOTAL LIABILITIES 1,906,242 974,646 1,296,407 662,840 

Shareholders’ Equity 

Share capital 73,306 37,481 49,306 25,210 

Retained earnings and reserves 60,447 30,906 42,350 21,653 

TOTAL SHAREHOLDERS’ EQUITY 133,753 68,387 91,656 46,863 

TOTAL LIABILITIES AND 

SHAREHOLDERS’ EQUITY 2,039,995 1,043,033 1,388,063 709,703 


Balance Sheet 

45

Bilans uspjeha 

Bilans uspjeha 

Za godine koje su završile 31. decembra 2004. i 2003. 

2004. 

2004. 

2003. 

2003. 

000 KM 000 EUR 000 KM 000 EUR 

Prihodi od kamata 106,504 54,455 88,838 45,422 

Rashodi od kamata (38,162) (19,512) ( 25,691) (13,136) 

Neto prihod od kamata 68,342 34,943 63,147 32,286 

Prihodi od naknada i provizija 36,400 18,611 30,848 15,772 

Rashodi od naknada i provizija (5,057) (2,586) (3,608) (1,845) 

Neto prihod od naknada i provizija 31,343 16,025 27,240 13,927 

Neto dobit iz finansijskog poslovanja 5,138 2,627 5,263 2,691 

Ostali operativni prihodi 2,360 1,207 396 203 

Naplaćena otpisana potraživanja 6,145 3,142 3,012 1,540 

Prihod iz redovnog poslovanja 113,328 57,944 99,058 50,647 

Opšti i administrativni troškovi (64,468) (32,962) (55,147) (28,196) 

Amortizacija (5,212) (2,665) (4,666) (2,386) 

Rashodi iz redovnog poslovanja (69,680) (35,627) (59,813) (30,582) 

DOBIT PRIJE REZERVISANJA I 

POREZA NA DOBIT 43,648 22,317 39,245 20,065 

Trošak rezervisanja (22,502) (11,505) (18,974) (9,701) 

DOBIT PRIJE POREZA NA DOBIT 21,146 10,812 20,271 10,364 

Porez na dobit - - - - 

NETO DOBIT ZA GODINU 21,146 10,812 20,271 10,364 


Profit and Loss Account 

For the years ended 31 December 2004 and 2003 

2004 

2004 

2003 

2003 

000 KM 000 EUR 000 KM 000 EUR 

Interest income 106,504 54,455 88,838 45,422 

Interest expense (38,162) (19,512) ( 25,691) (13,136) 

Net Interest Income 68,342 34,943 63,147 32,286 

Fee and commission income 36,400 18,611 30,848 15,772 

Fee and commission expense (5,057) (2,586) (3,608) (1,845) 

Net Fee and Commission Income 31,343 16,025 27,240 13,927 

Net trading income 5,138 2,627 5,263 2,691 

Other operating income 2,360 1,207 396 203 

Collected write-offs 6,145 3,142 3,012 1,540 

Operating income 113,328 57,944 99,058 50,647 

General and administrative expense (64,468) (32,962) (55,147) (28,196) 

Depreciation and amortization expense (5,212) (2,665) (4,666) (2,386) 

Operating Expense (69,680) (35,627) (59,813) (30,582) 

PROFIT BEFORE IMPAIRMENT LOSSES, 

PROVISIONS AND INCOME TAXES 43,648 22,317 39,245 20,065 

Impairment losses and provisions (22,502) (11,505) (18,974) (9,701) 

PROFIT BEFORE INCOME TAXES 21,146 10,812 20,271 10,364 

Income tax - - - - 

NET PROFIT FOR THE PERIOD 21,146 10,812 20,271 10,364 

Profit and Loss Account 


47

Značajni finansijski pokazatelji 


Key Financial Highlights 

Prikazani podaci navedeni su ili izračunati na temelju 

revidiranih finansijskih izvještaja Banke. 

Na kraju godine 

At the year end 


The figures shown below are extracted or recomputed 

from the Bank’s audited financial statements. 

2004 

000 KM 

2004 

000 EUR 

2003 

000 KM 

2003 

000 EUR 

Ukupno aktiva 

Total assets 2,039,995 1,043,033 1,388,063 709,703 

Dionički kapital i rezerve 

Shareholders funds 133,753 68,387 91,656 46,863 

Godišnji rezultati 

Results for the year 

Ukupan prihod 

Total income 118,385 60,529 102,666 52,492 

Dobit prije oporezivanja 

Profit before taxation 21,146 10,812 20,271 10,364 

Dobit poslije oporezivanja 

Profit after taxation 21,146 10,812 20,271 10,364 

Pokazatelji 

Ratios % % 

Povrat na aktivu 

Return on Assets (ROA) 1,5 1,9 

Povrat na kapital 

Return on Equity (ROE) 25,9 32,5

Petogodišnja usporedba finansijskih pokazatelja 

Financial highlights for the five year period 

Iz Bilansa stanja i računa 

dobiti i gubitka 

From the balance sheet and 

profit and loss account 

2004 

000 KM 

2003 

000 KM 

2002 

000 KM 

2001 

000 KM 

2000 

000 KM 

Ukupno aktiva 

Total assets 2,039,995 1,388,063 930,492 744,278 224,591 

Dionički kapital 

Share capital 73,306 49,306 37,622 25,100 22,089 


Shareholders funds 133,753 91,656 59,212 34,683 26,836 

Depoziti komitenata 

Customer deposits 1,396,340 1,016,093 796,528 634,628 174,965 

Krediti komitentima 

Loans to customers 1,051,733 803,350 510,178 273,296 107,211 

Ukupan prihod 

Total income 118,385 102,666 74,923 46,077 23,229 

Ukupni troškovi poslovanja 

Total operating expenses 97,239 82,395 60,079 40,005 18,849 

Dobit / (gubitak) prije oporezivanja 

Profit / (loss) before taxation 21,146 20,271 14,844 6,072 4,380 

Dobit / (gubitak) poslije oporezivanja 

Profit / (loss) after taxation 21,146 20,271 14,844 6,072 4,014 



49


Iz Bilansa stanja i računa 

dobiti i gubitka 

From the balance sheet and 

profit and loss account 


2004 

000 EUR 

2003 

000 EUR 

2002 

000 EUR 

2001 

000 EUR 

2000 

000 EUR 

Ukupno aktiva 

Total assets 1,043,033 709,703 475,751 380,542 114,832 

Dionički kapital 

Share capital 37,481 25,210 19,235 12,833 11,294 


Shareholders funds 68,387 46,863 30,274 17,733 13,721 


Customer deposits 713,937 519,518 407,257 324,479 89,458 

Krediti komitentima 

Loans to customers 537,742 410,745 260,849 139,734 54,816 

Ukupan prihod 

Total income 60,529 52,492 38,308 23,558 11,877 

Ukupni troškovi poslovanja 

Total operating expenses 49,717 42,128 30,718 20,453 9,637 

Dobit / (gubitak) prije oporezivanja 

Profit / (loss) before taxation 10,812 10,364 7,590 3,105 2,239 

Dobit / (gubitak) poslije oporezivanja 

Profit / (loss) after taxation 10,812 10,364 7,590 3,105 2,052

Ukupna aktiva 

Total assets 

EUR 000 

1,200,000 

1,000,000 

800,000 

600,000 

400,000 

200,000 

0 

114,832 

380,542 

2004 

000 KM 

2004 

000 EUR 

475,751 

2003 

000 KM 

2003 

000 EUR 

709,703 

2002 

000 KM 

2002 

000 EUR 

1,043,033 

2000 2001 2002 2003 2004 

2001 

000 KM 

2001 

000 EUR 

2000 

000 KM 

Ukupno aktiva 

Total assets 2,039,995 1,388,063 930,492 744,278 224,591 

2000 

000 EUR 

Ukupno aktiva 

Total assets 1,043,033 709,703 475,751 380,542 114,832 



51


Ukupan prihod 

Total income 

EUR 000 

70,000 

60,000 

50,000 

40,000 

30,000 

20,000 

10,000 


0 

11,877 

23,558 

2004 

000 KM 

2004 

000 EUR 

2003 

000 KM 

2003 

000 EUR 

2002 

000 KM 

2002 

000 EUR 

2001 

000 KM 

2001 

000 EUR 

2000 

000 KM 

Ukupan prihod 

Total income 118,385 102,666 74,923 46,077 23,229 

2000 

000 EUR 

Ukupan prihod 

Total income 60,529 52,492 38,308 23,558 11,877 

38,308 

52,492 

60,529 

2000 2001 2002 2003 2004

Operativni rezultati 

Poslovanje Banke posljednih godina karakterizira 

konstantan uspon poslovanja. U 2004. godini Banka 

je ostvarila pozitivan finansijski rezultat u iznosu od 

21.146.000,00 KM, što u odnosu na prethodnu 

godinu predstavlja povećanje od 4%. 

Troškovi poslovanja u 2004. godini dosegli su iznos 

od 97.239.000,00 KM, što u poređenju sa prethodnom 

godinom predstavlja povećanje od 18% 

(u 2003. godini troškovi poslovanja su, u odnosu na 

2002., povećani za 37%). 

Ukupan prihod banke u 2004. godini iznosio je 

118.385.000,00 KM, što u odnosu na prihod prethodne 

godine predstavlja povećanje od 15% (u 2003. 

godini ukupni prihod je povećan za 37%). 

Najveći udio u strukturi ukupnih prihoda u 2004. 

godini imaju neto prihodi od kamata 58%, a najveće 

povećanje u odnosu na 2003. godinu bilježe ostali 

prihodi iz poslovanja 57% (u 2003. godini taj rast u 

odnosu na 2001. je iznosio16%). Banka se strateški 

orjentira ka kreditnom podržavanju privrede i 

stanovništva. 

Operating results 

The characteristic of the Bank business in the last years 

is continuous growth in banking operations. 

In 2004 the Bank achieved positive financial result in 

the amount of KM 21.146.000,00 which in comparison 

to the previous year means increase by 4%. 

Operating costs in 2004 reached the amount of KM 

97.239.000,00 which is in comparison to the previous 

year, the increase of 18% (in 2003 operating costs 

increased by 37% in comparison to 2002). 

Total bank revenue in 2004 amounted KM 

118.385.000,00 which is an increase of 15% in comparison 

to the previous year revenue (in 2003 total 

revenue increased by 37%). 


The biggest share in the structure of total income in 

2004 take net interest income 58% and the biggest 

increase in comparasion to 2003 have other operating 

income 57% (in 2003 that growth amounted 16%). The 

Bank is strategical oriented to providing the retail and 

corporate financial support. 


53


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 


0 

4,865 

4,804 

2,208 

11,045 

9,500 

3,013 

2000 2001 2002 2003 2004 

2004 

000 KM 

2003 

000 KM 

2002 

000 KM 

2001 

000 KM 

2000 

000 KM 

Neto prihod od kamata 

Net interest income 68,342 63,147 40,683 21,603 9,396 

Prihod od provizija 

Commission income 36,400 30,848 26,785 18,581 9,515 

Ostali prihodi iz poslovanja 

Other operating income 13,643 8,671 7,455 5,893 4,318 

2004 

000 EUR 

2003 

000 EUR 

2002 

000 EUR 

2001 

000 EUR 

2000 

000 EUR 


Net interest income 34,943 32,286 20,801 11,045 4,804 


Commission income 18,611 15,772 13,695 9,500 4,865 


Other operating income 6,975 4,434 3,812 3,013 2,208 

20,801 

13,695 

3,812 

32,286 

15,772 

4,434 

34,943 

18,611 

6,975 


Net interest income 


Commission income 


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 

11,877 

9,637 

23,558 

20,453 

2000 2001 2002 2003 2004 

2004 

000 KM 

2003 

000 KM 

2002 

000 KM 

2001 

000 KM 

2000 

000 KM 

Troškovi poslovanja 

Operating expenses 97,239 82,395 60,079 40,005 18,849 

Ukupan prihod 

Total income 118,385 102,666 74,923 46,077 23,229 

2004 

000 EUR 

2003 

000 EUR 

2002 

000 EUR 

2001 

000 EUR 

2000 

000 EUR 


Operating expenses 49,717 42,128 30,718 20,453 9,637 

Ukupan prihod 

Total income 60,529 52,492 38,308 23,558 11,877 

38,308 

30,718 

52,492 

42,128 

60,529 

49,717 

Ukupan prihod 

Total income 


Operating expenses 



55


Ukupna Aktiva 

Total Assets 

U toku 2004. ukupna aktiva Banke uvećana je za 

47% u odnosu na prethodnu godinu. 

Kao što se može primjetiti u donjem grafičkom prikazu, 

krediti komitentima preovladavaju u strukturi aktive 

Banke, sa udjelom od 52% ukupne aktive. 

Struktura ukupne aktive banke 

Structure of total assets 


Materijalna i nematerijalna imovina (2%) 

Tangible and intangible fixed assets (2%) 

Gotovina i računi kod banaka (7%) 

Cash and due from banks (7%) 

Plasmani drugim bankama (28%) 

Placements with other banks (28%) 

The total assets are increased by 47% in 2004 in relation 

to the previous year. 

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

predominant in the assets structure with 52% out of 

total assets. 

Ostala aktiva (11%) 

Other assets (11%) 

Krediti, neto, umanjeni za rezervisanja za moguće gubitke po kreditima (52%) 

Loans, net of provision for possible loan losses (52%)

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 27%. 

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 27% 

is registered. 

Pravna lica (32%) 

Corporate (32%) 

Druge ino banke (15%) 

Other international banks (15%) 

Lokalne banke (3%) 

Domestic banks (3%) 



57


Kreditiranje 

Credit financing 

Kreditiranje preduzeća 

Banka je i u 2004. godini pružila finansijsku podršku 

poslovanju korporativnih klijenata u BiH kroz odobravanje 

kratkoročnih i dugoročnih kredita, kao i izdavanjem 

garancija i akreditiva. 

Pružena finansijska podrška klijentima rezultirala je 

povećanjem kreditnog portfelja pravnih lica za 39% 

odnosno 142,2 miliona KM u odnosu na prethodnu 

godinu, dok je garantno–akreditivni portfelj povećan 

za 9%, tj. 12,5 miliona KM. 

Kreditiranje stanovništva 

S ciljem ispunjenja planskih kategorija i zadržavanja 

stečene pozicije na tržištu, Banka je tokom cijele 

godine kroz kreiranje novih i izmjenu parametara 

kod postojećih proizvoda, te obezbjeđenje adekvatnih 

izvora sredstava nastojala da odgovori na izazove koji 

dolaze od konkurencije. 

Nastavljene su aktivnosti s ciljem povećanja portfelja 

kratkoročnih kredita pa su pored ostalog kreirana dva 

nova kreditna proizvoda, a broj ugovora sa trgovcima 

preko kojih se plasiraju robni krediti je povećan za 

119, što je rezultiralo plasmanom 26.579 kratkoročnih 

robnih i nenamjenskih kredita u ukupnom iznosu od 

28.397.000,00 KM (14.519.000,00 EUR-a). 

Kreditni portfelj stanovništva je na kraju godine dostigao 

iznos od 570.689.000,00 KM (291.789.000,00 

EUR-a), što je za 23,44% više od stanja u 2003. 

godini. 


Credits to companies 

In 2004 the Bank provided funds to business operations 

of corporate customers in BiH through approval 

of ST and LT loans, as well as through issuing of guarantees 

and L/Cs. 

Results of the funding reflected in increase of credit 

portfolio of corporates by 39%, i.e. KM 142,2 mio in 

relation to the previous year, while guarantee-L/C portfolio 

increased by 9%, i.e. KM 12,5 mio. 

Retail lending 

In order to fulfil budgeted categories and to maintain 

positions in the market, the Bank was trying to respond 

to challenges imposed by competition through creation 

of new product, changing parameters of existing products 

and providing of adequate sources in the course 

of the whole year. 

Activities towards increase of ST loans portfolio continued 

and two credit products were created. The 

number of agreements with merchants, through which 

commodity loans are being placed, increased by 119, 

which resulted in placement of 26,579 ST commodity 

loans and non-special purpose loans in the total 

amount of KM 28,397,000.00 (EUR 14.519.000,00). 

Retail loan portfolio at the end of the year 

reached the amount of KM 570,689,000.00 (EUR 

291,789,000.00), which is 23,44% more than in 

2003.

Bruto vrijednost kredita 

Gross Value of Loans 

2004 

000 KM 



2003 

000 KM 

Promjena 

Change 

Krediti preduzećima 

Loans to companies 501,763 354,529 41 

Krediti stanovništvu 

Loans to Individuals 600,626 486,928 23 

Ukupno 

Total 1,102,389 841,457 31 

Rezerviranja za moguće gubitke po kreditima 

Provision for Possible Loan Losses 50,656 38,107 

Neto vrijednost kredita 

Net Value of Loans 1,051,733 803,350 31 



2004 

000 EUR 



2003 

000 EUR 

% 

Promjena 

Change 

Krediti preduzećima 

Loans to companies 256,547 181,267 41 

Krediti stanovništvu 

Loans to Individuals 307,095 248,961 23 

Ukupno 

Total 563,642 430,228 31 

Rezerviranja za moguće gubitke po kreditima 

Provision for Possible Loan Losses 25,900 19,484 

Neto vrijednost kredita 

Net Value of Loans 537,742 410,744 31 


% 


59


Obaveze i kapital 

Liabilities and funds employed 

Tuđa sredstva 

Other sources of Funds 


Obaveze po kreditima (19%) 

Borrowings (19%) 

Oročeni depoziti (36%) 

Term deposits (36%) 

Vlastiti izvori (7%) 

Shareholders Equity (7%) 

Ostale obaveze (8%) 

Other liabilities (8%) 

Depoziti po viđenju (37%) 

Demand deposits (37%) 

Tuđa sredstva (93%) 

Other sources of funds (93%)


Customer deposits 

EUR 000 

400,000 

350,000 

300,000 

250,000 

200,000 

150,000 

100,000 

50,000 

0 

176,721 

147,758 

205,991 

201,266 

2004 

000 KM 

2003 

000 KM 

2002 

000 KM 

2001 

000 KM 

Depoziti preduzeća 

Deposits from companies 660,279 436,128 393,644 288,991 

Depoziti stanovništva 

Deposits from individuals 736,061 579,965 402,884 345,637 

2004 

000 EUR 

296,530 

222,988 

2001 2002 2003 2004 

2003 

000 EUR 

376,342 

337,595 


Deposits from individuals 


Deposits from companies 

2002 

000 EUR 

2001 

000 EUR 


Deposits from companies 337,595 222,988 201,266 147,758 


Deposits from individuals 376,342 296,530 205,991 176,721 



61



Deposits from companies 

EUR 000 

250,000 

200,000 

150,000 

100,000 

50,000 


0 

122,594 

25,164 

162,477 

38,789 

2001 2002 2003 2004 

2004 

000 KM 

2003 

000 KM 

2002 

000 KM 

2001 

000 KM 

Oročeni depoziti 

Term deposits 276,930 106,322 75,866 49,217 

Depoziti po viđenju 

Demand deposits 383,349 329,806 317,778 239,774 

2004 

000 EUR 

168,627 

2003 

000 EUR 

2002 

000 EUR 

2001 

000 EUR 


Term deposits 141,592 54,361 38,789 25,164 



54,361 

196,003 

141,592 


Demand deposits 


Term deposits


Deposits from individuals 

EUR 000 

250,000 

200,000 

150,000 

100,000 

50,000 

0 

120,974 

55,747 

114,508 

91,483 

2004 

000 KM 

2003 

000 KM 

2002 

000 KM 

2001 

000 KM 


Term deposits 405,171 324,648 223,959 236,606 



2004 

000 EUR 

165,989 

130,541 

2001 2002 2003 2004 

2003 

000 EUR 

207,161 

169,181 


Term deposits 


Demand deposits 

2002 

000 EUR 

2001 

000 EUR 


Term deposits 207,161 165,989 114,508 120,974 





63



65



67

Adresar 

Centrala i filijale 

Head Office and Branches 


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 

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 

Zanatski centar “Sebilj” 

71 300 Visoko 

Tešanj 

Maršala Tita 9 

74 260 Tešanj 

Brčko 

Bulevar mira bb 

76 100 Brčko

Adresar 

Addresses 

Raiffeisen Zentralbank 

Österreich AG 

Austria (Head Office) 

Am Stadtpark 9, 1030 Wien 

Postal address: 

P.O. Box 50, 1011 Vienna 

SWIFT/BIC: RZBAATWW 

Phone: +43-1-71 707-0 

Fax: +43-1-71 707-1715 

www.rzb.at, www.rzbgroup.com 

Contacts: 

Austrian Corporate Customers 

Joseph Eberle 

Phone: +43-1-71 707-1487 

joseph.eberle@rzb.at 

Multinational Corporate Customers 

Peter Bazil 

Phone: +43-1-71 707-1547 

peter.bazil@rzb.at 

Central and Eastern European 

Corporate Customers 

Christian Theuer 

Phone: +43-1-71 707-1462 

christian.theuer@rzb.at 

Corporate, Trade & Export Finance 

Helmut Breit 

Phone: +43-1-71 707-1321 

helmut.breit@rzb.at 

Global Financial Institutions and 

Sovereigns 

Martin Czurda 

Phone: +43-1-71 707-1120 

martin.czurda@rzb.at 

Transaction Services 

Günther Gall 

Phone: +43-1-71 707-1168 

guenther.gall@rzb.at 

Investment Banking/Fixed Income 

Christian Säckl 

Phone: +43-1-71 707-3347 

christian.saeckl@rzb.at 

People’s Republic of 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@rzb-china.raiffeisen.at 

Singapore 

Singapore Branch 

50, Raffles Place #45-01 

Singapore Land Tower, 

Singapore 048623 

Phone: +65-6225 9578 

Fax: +65-6225 3973 

Contact: Rainer Šilhavý 

rainer.silhavy@sg.rzb.at 

CEE-Desk: Stefanie Lischka 

stefanie.lischka@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.london.rzb.at 

Contact: 

Wladimir Ledochowski 

wladimir.ledochowski@uk.rzb.at 


Addresses 

69

Adresar 


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 

Branch in Bethel, Connecticut 


Bank-Holding AG 

Austria (Head Office) 


Phone: +43-1-71 707-3504 

Fax: +43-1-71 707-1377 

www.ri.co.at 

Contact: Roman Hager 

roman.hager@rzb.at 

Banking Network in Europe 

Albania 

Raiffeisen Bank Sh.a. 

Rruga Kavajes, Tirana 

Phone: +355-4-253 644 

Fax: +355-4-230 013 

SWIFT/BIC: SGSBALTX 

www.raiffeisen.al 

Contact: Steven Grunerud 

steven.grunerud@raiffeisen.al 

84 banking outlets 

Belarus 

Priorbank, JSC 

Ulitsa V. Khoruzhey 31-A 

Minsk, 220002 

Phone: +375-17-289 90 87, 289 90 01 

Fax: +375-17-289 91 91 

SWIFT/BIC: PJCBBY2X 

www.priorbank.by 

Contact: Olga Gelakhova 

olga.gelakhova@priorbank.by 



Raiffeisen Bank d.d. 


Danijela Ozme 3, 71000 Sarajevo 

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

Fax: +387-33-213 851 

SWIFT/BIC: RZBABA2S 


Contact: Edin Muftić 

edin.muftic@rbb-sarajevo.raiffeisen.at 


Bulgaria 

Raiffeisenbank (Bulgaria) E.A.D. 

Gogol Ulica 18/20, 1504 Sofia 

Phone: +359-2-919 85 101 

Fax: +359-2-943 45 28 

SWIFT/BIC:RZBBBGSF 

www.rbb.bg 

Contact: Momtchil Andreev 

momtchil.andreev@rbb-sofia.raiffeisen.at 


Croatia 

Raiffeisenbank Austria d.d. 

Petrinjska 59, 10000 Zagreb 

Phone: +385-1-456 64 66 

Fax: +385-1-481 16 24 

SWIFT/BIC: RZBHHR2X 

www.rba.hr 

Contact: Lovorka Penavić 

lovorka.penavic@rba-zagreb.raiffeisen.at 

34 banking outlets

Czech Republic 

Raiffeisenbank a.s. 

Olbrachtova 2006/9, 140 21 Prague 4 

Phone: +420-222-114 1111 

Fax: +420-222-114 2111 

SWIFT/BIC: RZBCCZPP 

www.rb.cz 

Contact: Rudolf Rabinák 

rudolf.rabinak@rb.cz 


Hungary 

Raiffeisen Bank Rt. 

Akadémia utca 6, 1054 Budapest 

Phone: +36-1-484 4400 

Fax: +36-1-484 4444 

SWIFT/BIC: UBRTHUHB 

www.raiffeisen.hu 

Contact: Richárd Magasy 

rmagasy@raiffeisen.hu 


Kosovo 

Raiffeisen Bank Kosovo J.S.C 

UÇK Street 51, Pristina 

Phone: +381-38-226 400 

Fax: +381-38-226 408 

SWIFT/BIC: RBKOCS22 

www.raiffeisen-kosovo.com 

Contact: Oliver Whittle 

oliver.whittle@raiffeisen-kosovo.com 


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. Pietkna 20, 00-549 Warsaw 

Phone: +48-22-585 2000 

Fax: +48-22-585 2585 

SWIFT/BIC: RCBWPLPW 

www.raiffeisen.pl 

Contact: Piotr Czarnecki 

piotr.czarnecki@raiffeisen.pl 


Romania 

Raiffeisen Bank S.A. 

Mircea Voda Blvd. 44, 030669 Bucureşti 3 

Phone: +40-21-323 0031 

Fax: +40-21-323 6027 

SWIFT/BIC: RZBRROBU 

www.raiffeisen.ro 

Contact: Steven C. van Groningen 

centrala@raiffeisen.ro 


Russia 

ZAO Raiffeisenbank Austria 

Troitskaya Ul. 17/1, 129090 Moskwa 

Phone: +7-095-721 9900 

Fax: +7-095-721 9901 

SWIFT/BIC: RZBMRUMM 

www.raiffeisen.ru 

Contact: Michel Perhirin 

michel.perhirin@raiffeisen.ru 


Serbia and Montenegro 

Raiffeisenbank a.d. 

Resavska 22, 11000 Beograd 

Phone: +381-11-320 2100 

Fax: +381-11-320 2860, 

SWIFT/BIC: RZBJCSBG 


Addresses 

71

Adresar 


www.raiffeisen.co.yu 

Contact: Budimir Kostić 

budimir.kostic@rba-belgrade.raiffeisen.at 


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 


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: Klemens Nowotny 

klemens.nowotny@r-kb.si 


Ukraine 

JSCB Raiffeisenbank Ukraine 

Bul. Zhylyanska 43, 01033 Kiev 

Phone: + 38-044-490 0500 

Fax: +380-044-490 0501 

SWIFT/BIC: RZBUUAUK 

www.raiffeisenbank.com.ua 

Contact: Margarita Drobot 

margarita.drobot@rbu-kiev.raiffeisen.at 


Representative offices in 

Europe 

Belgium 

Brussels (RZB) 

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 (RZB) 

9 – 11, Avenue Franklin Roosevelt 

75008 Paris 

Phone: + 33-1-456 127 00 

Fax: +33-1-456 11606 

www.rzb.com.fr 

Contact: Vera Sturman 

vera.sturman@fr.rzb.at 

Italy 

Milan (RZB) 

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, 2001 Vilnius 

Phone: +370-5-266 6600 

Fax: +370-5-266 6601 

www.raiffeisen.lt 

Contact: Vladislovas Janèis 

vladislovas.jancis@raiffeisen.pl

Russia 

Moscow (RZB) 

14, Pretchistensky Pereulok 

Building 1, 119034 Moskwa 

Phone: +7-095-721 9903 

Fax: +7-095-721 9907 

Contact: Evgheny Rabovsky 

erabovsky@raiffeisen.ru 

Representative offices in 

America and Asia 

U.S.A. 

Chicago (RZB Finance LLC) 

10N. 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 (RZB) 

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 

People’s Republic of China 

Hongkong (RZB) 

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 

India 

Mumbai (RZB) 

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 (RZB) 

Vanak, North Shirazi Avenue 

16, Ladan Str., 19917 Tehran 

Phone: +98-21804 6767-2 

Fax: +98-21-803 6788 

Contact: Gerd Wolf 

unico@sayareh.com 

South Korea 

Seoul (RZB) 

Leema Building, 8th floor 

146-1, Soosong-dong 

Chongro-ku, 110-755 Seoul 

Phone: +82-2-398 5840 

Fax: +82-2-398 5807 

Contact: Kun II Chung 

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


Addresses 

73

Adresar 


Vietnam 

Ho Chi Minh City (RZB) 

6, Phung Khac Khoan Street, District 1 

Room G6, Ho Chi Minh City 

Phone: +848-8297 934, 8256 660 

Fax: +848-822 1318 

Contact: Ta Thi Kim Thanh 

ta-thi-kim.thanh@rzb-vietnam.raiffeisen.at 

Investment Banking 

Austria 

Raiffeisen Zentralbank Österreich AG 

Fixed Income 


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: Gerhard Vogt 

vogt@rcb.at 

Raiffeisen Investment AG 

Advisory 

Tegetthoffstr. 1, 1015 Wien 

Phone: +43-1-710 5400-0 

Fax: +43-1-710 5400-39 

www.raiffeiseninvestment.at 

Contact: Heinz Sernetz 

h.sernetz@riag.at 

Subsidiaries and representative offices 

in Belgrade, Bucharest, Istanbul, Kiev, 

Moscow, Podgorica, Sofia and Warsaw. 


Raiffeisen Bank d.d. 


Danijela Ozme 3, 71000 Sarajevo 

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

Fax: +387-33-213 851 


Contact: Dragomir Grgić 

dragomir.grgic@rbb-sarajevo.raiffeisen.at 

Bulgaria 

Raiffeisen (Bulgaria) E.A.D. 

Gogol Ulica 18/20, 1504 Sofia 

Phone: +359-2-919 85 451, 91 985 441 

Fax: +359-2-943 45 28 

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: +385-1-481 9462 

www.rba.hr 

Contact: Zoran Košćak 

zoran.koscak@rba-zagreb.raiffeisen.at 

Czech Republic 

Raiffeisenbank a.s. 

Olbrachtova 2006/9, 140 21 Praha 4 

Phone: +420-222-114 1863 

Fax: +420-222-114 3804 

www.rb.cz 

Contact: Martin Bláha 

martin.blaha@rb.cz

Hungary 

Raiffeisen Bank Rt. 

Akadémia utca 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. Pietkna 20, 00-549 Warszawa 

Phone: +48-22-585 0 

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 00 82 

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: +7-095-721 9900 

Fax: +7-095-721 9901 

www.raiffeisen.ru 

Contact: Pavel Gourine 

pgourine@raiffeisen.ru 

Serbia and Montenegro 

Raiffeisen Investment AG 

Obilićev venac 27/II, 11000 Beograd 

Phone: +381-11-3281 638 

Fax: +381-11-2623 542 

Contact: Tatjana Terzic 

riag@eunet.yu 

Slovakia 

Tatra banka, a.s. 

Hodžovo námestie 3, 811 06 Bratislava 1 

Phone: +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: +386-2-22 93111 

Fax: +386-2-252 5518 

www.r-kb.si 

Contact: Gvido Jemenšek 

gvido.jemensek@r-kb.si 

Ukraine 

Raiffeisen Investment Ukraine TOV 

Bul. Zhylyanska 43, 01033 Kiev 

Phone: +38-044-490 6898 

Fax: +38-044-490 6899 

Contact: Vyacheslav Yakymuk 

vyacheslav.yakymuk@riu-kiev.raiffeisen.at 


Addresses 

75

Adresar 


Selected specialized 

Raiffeisen companies 

Austria 

Kathrein & Co. Privatgeschäftsbank 

Aktiengesellschaft 

Private Banking 

Wipplingerstr. 25, 1010 Wien 

Phone: +43-1-53 451-600 

Fax: +43-1-53 451-599 

SWIFT/BIC: KTBKATWW 

www.kathrein.at 

Contact: Claudio Cantele 

claudio.cantele@kathrein.at 

Raiffeisen Bausparkasse 

Gesellschaft m.b.H. 

Building Society 

Wiedner Hauptstr. 94, 1050 Wien 

Phone: +43-1-54 646-1420 

Fax: +43-1-54 646-2361 

SWIFT/BIC: RBSKAT W1 

www.raibau.at 

Contact: Sonja Hochreiter 

sonja.hochreiter@raibau.raiffeisen.at 

Subsidiaries in Bratislava, Prague and 

Zagreb. 

Raiffeisen Capital Management 

(Raiffeisen Kapitalanlage- 

Gesellschaft m.b.H.) 

Asset Management 


Phone: +43-1-71 707-3791 

Fax: (+431) 71 707-763791 

www.raiffeisencapitalmanagement.at 

Contact: Monika Riedel 

monika.riedel@rcm.at 

Raiffeisen Versicherung AG 

Insurance 

Untere Donaustr. 21, 1029 Wien 

Phone: +43-1-21 119-0 

Fax: +43-1-21 119-1134 

www.raiffeisen-versicherung.at 

Contact: Norbert Heller 

kommunikation@raiffeisen-versicherung.at 

Raiffeisen Versicherung is a member of the 

UNIQA Group, which has further subsidiaries 

in Bratislava, 

Budapest, Geneva, Lodz, Mannheim, Milan, 

Prague, Salzburg, Udine, Vaduz, Vienna and 

Zagreb. 

Raiffeisen-Leasing GmbH 

Leasing 

Hollandstr. 11–13, 1020 Wien 

Phone: +43-1-71 601-8440 

Fax: +43-1-71 601-8448 

www.raiffeisen-leasing.at 

Contact: Andrea Weber 

andrea.weber@rl.co.at 

Subsidiaries in Frankfurt, St. Gallen and 

Treviso. 

Raiffeisen-Leasing 

International GmbH 

Leasing in CEE 


Phone: +-43-1-71 707-3785 

Fax: + 43-1-71 707-2059 

Contact: Christian Pettinger 

christian.pettinger@rzb.at 

Subsidiaries in Almaty, Belgrade, Bratislava, 

Bucharest, Budapest, Ljubljana, Moscow, 

Prague, Sarajevo, Sofia, Warsaw and Zagreb. 

Raiffeisen Private Equity 

Management AG 

Wipplingerstr. 25, 1010 Wien 

Phone: +43-1-532 0466-0 

Fax: +43-1-532 0466-410 

www.rpem.at 

Contact: Rolf Theuer 

r.theuer@rpem.at 

Representative office in Budapest.

ÖPAG Pensionskassen AG 

Pension fund 

Rögergasse 36, 1090 Wien 

Phone: +43 (0)1/316 48-0 

Fax: +43 (0)1/316 48-199 

www.oepag.at 

Contact: Johannes Ziegelbecker 

office@oepag.at 

ÖVK Vorsorgekasse AG 

Severance pay fund 


Phone: +43-810-530 099 

Fax: +43-810-530 098 

www.oevk.co.at 

Contact: Nicolaus Hagleitner 

office@oevk.co.at 

Raiffeisen evolution project 

development GmbH 

Real estate development 

Nussdorfer Lände 23, 1190 Wien 

Phone: +43-1-71 706-600 

Fax: +43-1-71 706-410 

www.raiffeisenevolution.com 

Contact: Markus Neurauter 

markus.neurauter@raiffeisenevolution.com 

Subsidiaries in Belgrade, Bucharest, Budapest 

Kiev, Moscow, Prague, Sofia, Warsaw and 

Zagreb. 

F. J. Elsner Trading GesmbH 

Trading 

Am Heumarkt 10, 1030 Wien 

Phone: + 43-1-79 736-0 

Fax: + 43-1-79 736-230 

www.elsner.at 

Contact: Wilhelm Ambichl 

wilhelm.ambichl@elsner.at 

Contact: Siegfried Purrer 

siegfried.purrer@elsner.at 

Branches in Beijing, Dubai, Kiev, Miami, Moscow, 

New York, Riga and Varshavka. 

Data accurate on 1 March 2005. Number of 

branches as on 31 December 2004. 

Further contact addresses are provided at 

www.rzbgroup.com 


Addresses 

77



79

Finansijski izvještaji 

Odgovornost za finansijske izvještaje 

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

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

izvještaji u skladu s Međunarodnim standardima finansijskog izvještavanja (MSFI), koje je objavio Odbor 

za međunarodne računovodstvene standarde, koji pružaju istinit i fer pregled stanja u Banci, kao i njene rezultate 

poslovanja za navedeni period. 

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

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

finansijskih izvještaja. 

Odgovornosti Uprave pri izradi finansijskih izvještaja obuhvataju sljedeće: 

- odabir i dosljednu primjenu odgovarajućih računovodstvenih politika 

- davanje opravdanih i razboritih prosudbi i procjena 

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

značajnih odstupanja u finansijskim izvještajima i 

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

tpostavka da će Banka nastaviti poslovanje nije primjerena. 

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

tačnošću prikazuju finansijski položaj Banke. Također, Uprava je dužna pobrinuti se da finansijski izvještaji 

budu u skladu sa Zakonom o računovodstvu. Pored toga, Uprava je odgovorna za čuvanje imovine Banke, te za 

poduzimanje opravdanih koraka za spriječavanje i otkrivanje prijevare i drugih nepravilnosti. 


Za i u ime Uprave 

Edin Muftić 

Raiffeisen Bank d.d. Bosna i Hercegovina 

Ulica Danijela Ozme 3 

71000 Sarajevo 


14. januar 2005.

Responsibility for Financial Reports 

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

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

in accordance with International Financial Reporting Standards (IFRS) as published by the International Accounting 

Standards Board (IASB) which give a true and fair view of the state of affairs and results of the Bank for that period. 

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

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

basis in preparing the financial statements. 

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

- suitable accounting policies are selected and then applied consistently; 

- judgements and estimates are reasonable and prudent; 

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

financial statements; and 

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

Bank and the group will continue in business. 

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

time the financial position of the Bank and must also ensure that the financial statements comply with the Accounting 

Law. The Board is also responsible for safeguarding the assets of the Bank and hence for taking reasonable 

steps for the prevention and detection of fraud and other irregularities. 

Signed on behalf of the Board 

Edin Muftić 

Raiffeisen Bank d.d. Bosna i Hercegovina 

Danijela Ozme 3 

71000 Sarajevo 


14 January 2005 

Financial statement 


81


NEZAVISNO REVIZORSKO MIŠLJENJE 

Dioničarima Raiffeisen bank d.d. Bosna i Hercegovina 

Obavili smo reviziju nekonsolidovanih bilansa stanja Raiffeisen bank d.d. Bosna i Hercegovina (u daljnjem tekstu: 

“Banka”) na dan 31. decembra 2004. i 2003. godine i povezanih nekonsolidovanih bilansa uspjeha, nekonsolidovanih 

izvještaja o novčanim tokovima i nekonsolidovanih izvještaja o promjenama na vlasničkoj glavnici za godine 

koje su tada završile. Odgovornost za ove finansijske izvještaje snosi Uprava Banke. Naša je odgovornost izraziti 

nezavisno mišljenje o nekonsolidovanim finansijskim izvještajima na temelju naše revizije. 

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

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

prikupili dovoljno dokaza koji nam u razumnoj mjeri pružaju jamstvo da finansijski izvještaji ne sadrže materijalno 

značajne pogreške. Revizija uključuje provjeru dokaza pomoću testiranja, koji potkrjepljuju iznose i druge informacije 

objavljene u finansijskim izvještajima. Revizija također uključuje i procjenu primijenjenih računovodstvenih 

načela te ocjenu značajnih procjena Uprave, kao i ocjenu ukupnog prikaza finansijskih izvještaja. Vjerujemo da 

nam naša revizija daje razumnu osnovu za naše mišljenje. 

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

stavkama, finansijski položaj Banke na dan 31. decembra 2004. i 2003. godine, kao i rezultate njezinog poslovanja, 

promjene u novčanim tokovima i promjene na vlasničkoj glavnici, za godine koje su tada završile i sastavljeni 

su u skladu s Međunarodnim standardima finansijskog izvještavanja. 


Deloitte d.o.o. 

Sarajevo, 14. januar 2005

INDEPENDENT AUDITORS’ REPORT 

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

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

(the “Bank”) as of 31 December 2004 and 2003 and the related unconsolidated statements of income, cash flows 

and changes in shareholders’ equity for the years then ended. These unconsolidated financial statements are the 

responsibility of the Bank’s management. Our responsibility is to express an opinion on these unconsolidated financial 

statements based on our audits. 

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

plan and perform the audit to obtain reasonable assurance about whether the unconsolidated financial statements 

are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts 

and disclosures in the unconsolidated financial statements. An audit also includes assessing the accounting principles 

used and significant estimates made by the Bank, as well as evaluating the overall financial statement presentation. 

We believe our audits provide a reasonable basis for our opinion. 

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

financial position of the Bank, as of 31 December 2004 and 2003, respectively and the results of its operations 

and its cash flows and changes in shareholders’ equity for the years then ended, in accordance with International 

Financial Reporting Standards. 

Deloitte d.o.o. 

Sarajevo, 14 January 2005 



83


Nekonsolidovani bilansi uspjeha 

Za godine koje su završene 31. decembra 2004. i 2003. 


Napomena 

2004. 

‘000 KM 

2003. 

‘000 KM 

Prihodi od kamata 3 106.504 88.838 

Rashodi od kamata 4 (38.162) (25.691) 

Neto prihod od kamata 68.342 63.147 

Prihodi od naknada i provizija 5 36.400 30.848 

Rashodi od naknada i provizija 6 (5.057) (3.608) 

Neto prihod od naknada i provizija 31.343 27.240 

Neto dobit iz finansijskog poslovanja 7 5.138 5.263 

Ostali operativni prihodi 8 2.360 396 

Naplaćena otpisana potraživanja 9 6.145 3.012 

Prihod iz redovnog poslovanja 113.328 99.058 

Opšti i administrativni troškovi 10 (64.468) (55.147) 

Amortizacija 21 (5.212) (4.666) 

Rashodi iz redovnog poslovanja (69.680) (59.813) 

DOBIT PRIJE REZERVISANJA I POREZA NA DOBIT 43.648 39.245 

Trošak rezervisanja 11 (22.502) (18.974) 

DOBIT PRIJE POREZA NA DOBIT 21.146 20.271 

Porez na dobit 12 - - 

NETO DOBIT ZA GODINU 21.146 20.271 

Računovodstvene politike i napomene u nastavku čine sastavni dio 

nekonsolidovanih finansijskih izvještaja.

Unconsolidated Income Statements 


Notes 

2004 

‘000 KM 


2003 

‘000 KM 

Interest income 3 106,504 88,838 

Interest expense 4 (38,162) (25,691) 

Net Interest Income 68,342 63,147 

Fee and commission income 5 36,400 30,848 

Fee and commission expense 6 (5,057) (3,608) 

Net Fee and Commission Income 31,343 27,240 

Net trading income 7 5,138 5,263 

Other operating income 8 2,360 396 

Collected write-offs 9 6,145 3,012 

Operating Income 113,328 99,058 

General and administrative expense 10 (64,468) (55,147) 

Depreciation and amortization expense 21 (5,212) (4,666) 

Operating Expense (69,680) (59,813) 

PROFIT BEFORE IMPAIRMENT LOSSES, 

PROVISIONS AND INCOME TAXES 43,648 39,245 

Impairment losses and provisions 11 (22,502) (18,974) 

PROFIT BEFORE INCOME TAXES 21,146 20,271 

Income tax 12 - - 

NET PROFIT FOR THE PERIOD 21,146 20,271 

The accompanying notes form an integral part of 

these unconsolidated financial statements. 


85


Nekonsolidovani bilansi stanja 

Na dan 31. decembra 2004. i 2003. 


Napomena 

2004. 

‘000 KM 

2003. 

‘000 KM 

SREDSTVA 

Novac i sredstva kod banaka 13 149.011 75.561 

Obavezna rezerva kod Centralne Banke 14 182.955 58.063 

Plasmani kod drugih banaka 15 582.900 386.612 

Krediti iz sredstava banke 16 1.051.733 803.350 

Kupljeni krediti koji se drže do dospijeća 17 1.136 4.216 

Potraživanja za obračunatu kamatu 18 6.003 4.982 

Ulaganja 19 4.879 3.211 

Ostala imovina 20 26.907 25.799 

Neto dugotrajna materijalna i nematerijalna imovina 21 34.471 26.269 

Ukupna sredstva 2.039.995 1.388.063 

OBAVEZE 

Obaveze prema drugim bankama 22 435.631 231.248 

Obaveze prema klijentima 24 1.396.340 1.016.093 

Rezervisanja za preuzete i potencijalne obaveze 28 12.023 8.879 

Ostale obaveze 25 20.198 10.850 

Subordinirani dug 23 42.050 29.337 

Ukupne obaveze 1.906.242 1.296.407 

VLASNIČKA GLAVNICA 

Dionički kapital 26 73.306 49.306 

Rezerve i zadržana dobit 60.447 42.350 

Ukupna vlasnička glavnica 133.753 91.656 

UKUPNE OBAVEZE I VLASNIČKA GLAVNICA 2.039.995 1.388.063 

Potpisao za i u ime Raiffeisen Bank d.d. Bosna i Hercegovina dana 14. januara 2005. godine: 

Direktor Banke Direktor sektora za finansije 

Edin Muftić Ðula Hasanbegović 


nekonsolidovanih finansijskih izvještaja.

Unconsolidated Balance Sheets 

As of 31 December 2004 and 2003 

Notes 

2004 

‘000 KM 


2003 

‘000 KM 

ASSETS 

Cash and amounts due from banks 13 149,011 75,561 

Obligatory reserve with the Central Bank 14 182,955 58,063 

Placements with other banks 15 582,900 386,612 

Loans originated by the Bank 16 1,051,733 803,350 

Purchased loans held to maturity 17 1,136 4,216 

Accrued interest receivable 18 6,003 4,982 

Investments 19 4,879 3,211 

Other assets 20 26,907 25,799 

Fixed and intangible assets 21 34,471 26,269 

Total assets 2,039,995 1,388,063 

LIABILITIES 

Due to banks 22 435,631 231,248 

Due to customers 24 1,396,340 1,016,093 

Provisions 28 12,023 8,879 

Other liabilities 25 20,198 10,850 

Subordinated debt 23 42,050 29,337 

Total liabilities 1,906,242 1,296,407 

SHAREHOLDERS’ EQUITY 

Share capital 26 73,306 49,306 

Retained earnings and reserves 60,447 42,350 

Total shareholders’ equity 133,753 91,656 

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 2,039,995 1,388,063 

Signed on behalf of Raiffeisen Bank d.d. Bosna i Hercegovina d.d. on 14 January 2005: 

President of the Management Board Director of the Finance Department 

Edin Muftić Ðula Hasanbegović 

The accompanying notes form an integral 

part of these unconsolidated financial statements. 


87


Nekonsolidovani izvještaji o novčanim tokovima 



2004. 

‘000 KM 

2003. 

‘000 KM 

Poslovne aktivnosti 

Neto dobit za godinu 21.146 20.271 

Usklađenje na neto novčana sredstva ostvarena poslovnim aktivnostima: 

Amortizacija 5.212 4.666 

Rezervisanja 22.502 18.974 

Promjene u sredstvima i izvorima: 

Neto povećanje potraživanja od Centralne banke (124.892) (37.390) 

Neto povećanje plasmana kod drugih banaka, prije rezervisanja (196.304) (111.381) 

Neto povećanje kredita, prije rezervisanja (266.352) (193.473) 

Neto smanjenje/(povećanje) kupljenih kredita, prije rezervisanja 2.472 (6.177) 

Neto povećanje potraživanja za obračunatu kamatu, prije rezervisanja (1.795) (1.782) 

Neto smanjenje/(povećanje) ostale aktive, prije rezervisanja (1.115) (18.312) 

Neto povećanje obaveza prema bankama 38.343 20.147 

Neto povećanje obaveza prema klijentima 380.247 109.416 

Neto povećanje obaveza za obračunatu kamatu (470) 1.611 

Neto povećanje ostale pasive 9.818 1.381 

Novčana sredstva od Raiffeisen Bank HPB d.d. (Napomena 31) - 24.938 

NETO NOVČANA SREDSTVA UPOTREBLJENA 

U POSLOVNIM AKTIVNOSTIMA (111.188) (167.111) 

Investicijske aktivnosti 

Neto smanjenje/(povećanje) ulaganja, prije rezervisanja za moguće gubitke (495) (2) 

Neto nabavke materijalne i nematerijalne imovine (14.571) (6.218) 

NETO NOVČANA SREDSTVA UPOTREBLJENA 

U INVESTICIJSKIM AKTIVNOSTIMA (15.066) (6.220) 

Finansijske aktivnosti 

Neto povećanje obaveza po kreditima 166.040 154.776 

Neto povećanje subordiniranog duga 12.713 19.558 

Uplata kapitala 24.000 - 

Dividende (3.049) (2.466) 

NETO NOVČANA SREDSTVA OSIGURANA 

FINANSIJSKIM AKTIVNOSTIMA 199.704 171.868 

NETO POVEĆANJE/(SMANJENJE) NOVCA I 

NOVČANIH SREDSTAVA 73.450 (1.463) 

Novac i novčana sredstva na početku perioda 75.561 77.024 

NOVAC I NOVČANA SREDSTVA NA KRAJU PERIODA 149.011 75.561 


Nekonsolidovanih finansijskih izvještaja.

Unconsolidated Statements Of Cash Flows 


2004 

‘000 KM 


2003 

‘000 KM 

Operating Activities 

Net income 21,146 20,271 

Adjustments to reconcile net income to net cash provided by 

operating activities: 

Depreciation 5,212 4,666 

Impairment losses and provisions 22,502 18,974 

Changes in operating assets and liabilities: 

Net increase in due from Central Bank (124,892) (37,390) 

Net increase in placements with other banks, before impairment losses (196,304) (111,381) 

Net increase in loans, before impairment losses (266,352) (193,473) 

Net decrease/(increase) in purchased loans, before impairment losses 2,472 (6,177) 

Net increase in accrued interest receivable, before impairment losses (1,795) (1,782) 

Net decrease/(increase) in other assets, before impairment losses (1,115) (18,312) 

Net increase in due to banks 38,343 20,147 

Net increase in demand and term deposits 380,247 109,416 

Net increase in accrued interest payable (470) 1,611 

Net increase in other liabilities 9,818 1,381 

Cash from Raiffeisen Bank HPB d.d. (Note 31) - 24,938 

NET CASH USED 

IN OPERATING ACTIVITIES (111,188) (167,111) 

Investing Activities 

Net decrease/(increase) in investments, before impairment losses (495) (2) 

Net purchases of fixed and intangible assets 

NET CASH USED 

(14,571) (6,218) 

IN INVESTING ACTIVITIES (15,066) (6,220) 

Financing Activities 

Net proceeds from borrowings 166,040 154,776 

Net proceeds from subordinated debt 12,713 19,558 

Paid-in capital 24,000 - 

Dividends paid (3,049) (2,466) 

NET CASH PROVIDED BY 

FINANCING ACTIVITIES 199,704 171,868 

NET (DECREASE)/INCREASE 

IN CASH AND CASH EQUIVALENTS 73,450 (1,463) 

Cash and cash equivalents at the beginning of the period 75,561 77,024 

CASH AND CASH EQUIVALENTS 

AT THE END OF THE PERIOD 149,011 75,561 

The accompanying notes form an integral part of these 

unconsolidated financial statements. 


89


Nekonsolidovani izvještaji o promjenama na 

vlasničkoj glavnici 



Dionički 

kapital 

‘000 KM 

Zadržana dobit 

i rezerve 

‘000 KM 

Ukupno 

‘000 KM 

Stanje 31. decembra 2002. 37.622 21.590 59.212 

Spajanje sa Raiffeisen Bank HPB d.d. (Napomena 31) 11.684 2.955 14.639 

Dividende - (2.466) (2.466) 

Neto dobit za godinu - 20.271 20.271 


Dvanaesta emisija dionica 10.000 - 10.000 

Trinaesta emisija dionica 7.000 - 7.000 

Četrnaesta emisija dionica 7.000 - 7.000 

Dividende - (3.049) (3.049) 

Neto dobit za godinu - 21.146 21.146 



Nekonsolidovanih finansijskih izvještaja.

Unconsolidated Statements Of Changes 

In Shareholders’ Equity 


Share capital 

‘000 KM 

Reserves and 

retained 

earnings 

‘000 KM 


Total 

‘000 KM 

Balance as at 31 December 2002 37,622 21,590 59,212 

Transfer from Raiffeisen Bank HPB d.d. (Note 31) 11,684 2,955 14,639 

Dividend declared - (2,466) (2,466) 

Net income for the year - 20,271 20,271 


12 th emission of shares 10,000 - 10,000 



Dividend declared - (3,049) (3,049) 

Net income for the year - 21,146 21,146 


The accompanying notes form an integral part of 

these unconsolidated financial statements. 


91


Napomene uz nekonsolidovane finansijske izvještaje 


1. OPĆENITO 

1.1 Djelatnost 

Raiffeisen bank d.d. Bosna i Hercegovina, Sarajevo, Danijela Ozme 3 (“Banka”) započela je sa radom 1993. 

godine. Na dan ove revizije Raiffeisen International Bank Holding AG ima 96,97% učešća u dioničarskom kapitalu. 

Glavna djelatnost Banke uključuje pružanje slijedećih usluga: kreditiranje preduzeća i stanovništva, prikupljanje 

depozita, aktivnosti na međubankarskom tržištu, mjenjačke i ostale redovne bankarske usluge. 

Uprava Banke: 


Direktor Edin Muftić 

Izvršni direktor Zdenko Mihajlović 

Izvršni direktor Ognjen Samardžić 

Izvršni direktor Dino Osmanbegović 

Izvršni direktor Michael Müller 

Nadzorni odbor Banke: 

Predsjednik Herbert Stepic 

Član Zdenko Adrović 

Član Heinz Hoedl 

Član Lovorka Penavić 

Član Angelika Weiss 

Odbor za reviziju: 

Wolfgang Trost 

Suad Kurtagić 

Boris Tihi 

Izudin Kešetović 

Miloš Trifković

Notes to the Unconsolidated Financial Statements 


1. GENERAL 

1.1 Activities 

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 96.97% of 

shareholders’ capital. The main activities of the Bank include the following banking services: loans to enterprises 

and citizens, collection of deposits, money market activities, foreign currency exchange and other banking-related 

activities. 

Management Board of the Bank: 

General Manager Edin Muftić 

Executive Director Zdenko Mihajlović 

Executive Director Ognjen Samardžić 

Executive Director Dino Osmanbegović 

Executive Director Michael Müller 

Supervisory Board of the Bank: 

President Herbert Stepic 

Member Zdenko Adrović 

Member Heinz Hoedl 

Member Lovorka Penavić 

Member Angelika Weiss 

Audit Committee: 

Wolfgang Trost 

Suad Kurtagić 

Boris Tihi 

Izudin Kešetović 

Miloš Trifković 



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2. TEMELJ ZA PREZENTIRANJE I SAŽETAK RAČUNOVODSTVENIH POLITIKA 

2.1 Temelj za prezentiranje finansijskih izvještaja 

Nekonsolidovani finansijski izvještaji prikazani na stranama 3 do 6 sastavljeni su u skladu sa Međunarodnim 

standardima finansijskog izvještavanja. 

Aktiva Banke sadrži ulaganja u povezana pravna lica koja su pod kontrolom Banke. Računovodstvena politika 

za ulaganja prikazana je u Napomeni 2.7. Konsolidovani finansijski izvještaji za godine koje su završene 31. 

decembra 2004. i 2003. godine biti će izdani zasebno. 

Banka evidentira računovodstvene promjene i iskazuje svoje izvještaje u skladu sa bankarskim, privrednim i 

fiskalnim propisima Bosne i Hercegovine. Službena valuta zemlje je Konvertibilna Marka (“KM”), koja je službeno 

vezana za EURO (“EUR”) (KM 1,95583 = EUR 1). 

Neka računovodstvena načela, koja su propisana Zakonom, razlikuju se od onih koja su općenito priznata na 

međunarodnim finansijskim tržištima. Kako bismo mogli prezentirati finansijski položaj i rezultate poslovanja u 

skladu sa Međunarodnim standardima finansijskog izvještavanja (“MSFI”), obavljene su izvjesne reklasifikacije u 

odnosu na propisane finansijske izvještaje. 

Prezentiranje finansijskih izvještaja u skladu s Međunarodnim standardima finansijskog izvještavanja zahtjeva 

od Uprave stvaranje procjena i pretpostavki koje se odražavaju na prezentiranu aktivu i pasivu, te objavljivanje 

vanbilansnih sredstava i obaveza na dan finansijskog izvještaja i utvrđene iznose prihoda i rashoda za izvještajno 

razdoblje. Stvarni rezultati mogu se razlikovati od tih procjena. 

Prihodi i troškovi su evidentirani u periodu u kojem su nastali. 

2.2 Preračunavanje stranih sredstava plaćanja 

Sredstva i izvori sredstava izraženi u stranim sredstvima plaćanja preračunavaju se u protuvrijednost konvertibilne 

marke po službenom kursu Centralne Banke Bosne i Hercegovine koji je važeći na dan Bilansa stanja, a vrijednost 

kursa je ista i na tržištu deviza. Prihodi i rashodi u stranim sredstvima plaćanja preračunavaju se po kursu na dan 

transakcije. Ostvareni prihodi i rashodi nastali preračunavanjem po kursu knjiže se u Bilans uspjeha. 

2.3 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 dospijeću, uključujući materijalne naknade za obradu kreditnih 

zahtijeva. 

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. 

2.4 Prihodi od naknada i provizija 

Prihodi od naknada i provizija sastoje se od naknada za izvršene transakcije u stranoj valuti, kreditnih naknada, 

naknada za izdavanje akreditiva, odobravanje garancija i upravljanje sredstvima u ime i za račun trećih osoba. 

Ukoliko su nematerijalne, naknade za odobravanje kredita priznaju se kao prihod u trenutku odobravanja kredita. 

Naknade za transakcije u stranoj valuti priznaju se u trenutku naplate. 




2. BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES 

2.1 Basis of Presentation 

The unconsolidated financial statements set out on pages 3 to 6 are prepared in accordance with International 

Financial Reporting Standards. 

The assets of the Bank include investments in subsidiaries that are controlled by the Bank. Accounting policy for 

investments is disclosed in Note 2.7. The consolidated financial statements prepared as of, and for the years 

ended, 31 December 2004 and 2003 will be issued separately. 

The Bank maintains its accounting records and prepares its statutory accounts in accordance with the commercial, 

banking and fiscal regulations prevailing in Bosnia and Herzegovina. The country’s official currency is the 

Konvertibilna Marka (“KM”), which is officially tied to the EURO (“EUR”) (KM 1.95583 = EUR 1). 

Certain of the accounting principles prescribed for statutory purposes are different from those generally recognized 

in the international financial markets. In order to present the financial position and results of operations in 

accordance with International Financial Reporting Standards (“IFRS”), certain adjustments have been made to the 

Bank’s statutory accounts. 

The presentation of financial statements in conformity with International Financial Reporting Standards requires 

management to make estimates and assumptions that effect 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. Actual results may differ from those estimates. 

Revenues and expenses are recorded in the period in which they are earned or incurred. 

2.2 Foreign Currency Translation 

Assets and liabilities denominated in foreign currencies are translated into KM at the exchange rate of the Central 

Bank of Bosnia and Herzegovina quoted at the Balance Sheet date, which is equal to the market exchange rate. 

Income and expenses arising in foreign currencies are converted at the rate of exchange on the transaction date. 

Resulting foreign exchange gains and losses are recorded in the Income statement. 

2.3 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. 

2.4 Fee and Commission Income 

Fee and commission income consist of fees related to foreign currency transactions, loans, guarantees, letters of 

credit and commissions from managed funds. 

When considered immaterial, loan origination fees are credited to income upon the granting of the applicable 

loan. Commissions on foreign currency transactions are credited to income on receipt. 



95




2.5 Krediti, plasmani bankama i kamate, neto 

Krediti koje je odobrila Banka, osiguravajući novčana sredstva direktno zajmoprimcima, svrstani su kao krediti 

iz sredstava Banke i iskazuju se po amortiziranom trošku. Troškovi prema trećim stranama, kao što su naknade 

nastale prilikom osiguravanja kredita, tretiraju se kao dio troška transakcije. Svi krediti priznaju se u trenutku 

isplate novca zajmoprimcu. 

Krediti klijentima i finansijskim institucijama iskazuju se umanjeni za rezervisanja za moguće gubitke. Rezervisanje 

za moguće gubitke utvrđuje se ako postoji objektivan dokaz da Banka neće biti u mogućnosti naplatiti cijeli iznos 

o dospijeću. Iznos rezervisanja predstavlja razliku između knjigovodstvenog i nadoknadivog iznosa, koji predstavlja 

sadašnju vrijednost očekivanih novčanih tokova, uključivši nadoknadive iznose po garancijama i kolateralima, 

diskontiranih primjenom izvorne efektivne kamatne stope na kredit, a na temelju kreditne sposobnosti i redovnosti 

podmirenja zajmoprimca, uzimajući u obzir vrijednost instrumenta osiguranja ili jemstvo treće strane. Promjene u 

rezervisanjima formiranim za umanjenje vrijednosti evidentiraju se u Bilansu uspjeha. 

2.6 Kupljeni krediti koji se drže do dospijeća 

Kupljeni krediti koji se drže do dospjeća se sastoje od kreditnog portfolia kupljenog od USAID Business Finance 

kako je objašnjeno u Napomeni 17. Banka ima namjeru i sposobnost da drži ovaj portfolio do dospjeća svakog 

pojedinačnog kredita. Sredstva držana do dospjeća se priznaju po trošku i evidentiraju po amortizovanom trošku 

upotrebljavajući metodu efektivne kamatne stope, umanjena za rezervisanja za moguće gubitke. 

2.7 Ulaganja 

Ulaganja se sastoje od ulaganja u povezana društva i ulaganja sa manjinskim interesom. 

Ulaganja u povezana društva priznaju se po trošku, umanjenim za rezervisanja za moguće gubitke. Promjene u 

rezervisanjima za moguće gubitke evidentiraju se u Bilansu uspjeha. Zarada i gubici od prodaje ulaganja priznaju 

se u Bilansu uspjeha. 

Ulaganja u društva sa manjinskim interesom priznaju se po trošku, umanjenim za rezervisanja za moguće gubitke. 

Promjene u rezervisanjima za moguće gubitke evidentiraju se u Bilansu uspjeha. Zarada i gubici od prodaje 

ulaganja priznaju se u Bilansu uspjeha. 

2.8 Fer vrijednost finansijske aktive i obaveza 

Fer vrijednost finansijskog instrumenta je iznos po kojem se sredstvo može razmijeniti ili obaveza podmiriti između 

poznatih i spremnih strana u transakciji koja je predmet pogodbe. 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 

diskotne stope i procijenjene buduće novčane tokove, značajno utječu na procjenu. Iz tog razloga, procijenjene fer 

tržišne vrijednosti ne mogu se ostvariti prodajom finansijskog instrumenta u samom trenutku prodaje. 

Prema mišljenju Uprave Banke, ukoliko se fer vrijednost finansijske imovine i finansijskih obaveza Banke značajno 

razlikuju od knjigovodstvenih iznosa, takve fer vrijednosti posebno su iskazane u napomenama uz finansijske 

izvještaje. 




2.5 Loans Originated by the Bank, Placements with Other Banks and Interest Receivable 

Loans granted by the Bank by providing money directly to a borrower are categorized as loans originated by the 

Bank and are carried at amortized cost. Third party expenses, such as legal fees, incurred in securing a loan are 

treated as part of the cost of the transaction. All loans and advances are recognized when cash is advanced to 

borrowers. 

Loans and advances to customers and financial institutions are stated net of provisions for loan impairment. A 

provision 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 provision 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. Provisions are assessed based on the expected 

cash flows, which are determined with reference to the repayment history, the credit standing and performance of 

the borrower, value of any collateral or third party guarantees. Changes in provision are charged to the income 

statement. 

2.6 Purchased Loans Held to Maturity 

Purchased loans held to maturity comprise the loan portfolio purchased from USAID Business Finance as described 

in Note 17. 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. 

2.7 Investments 

Investments are comprised of investments in subsidiaries and investments in minority interest. 

Investments in subsidiaries are initially recognized at cost, net of provision for impairment. Changes in provision 

for impairment of these investments are charged to the income statement. Gains and losses on the disposal of 

investments are charged to the income statement. 

Investments in minority interest are stated at cost, net of provision for impairment. Changes in provision for 

impairment of these investments are charged to the income statement. Gains and losses on the disposal of 

investments are charged to the income statement. 

2.8 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 cannot be realised in a current sale of the financial instrument. 

Where, in the opinion of the management, the fair values of financial assets and liabilities differ materially from 

their carrying amounts, such fair values are separately disclosed in the notes to the financial statements. 



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U procjeni fer vrijednosti finansijskih instrumenata Banke korištene su slijedeće metode i pretpostavke: 

(a) Novac i sredstva kod Centralne banke 

Fer vrijednosti novca i sredstava kod Centralne banke općenito su približni njihovim knjigovodstvenim 

vrijednostima. 

(b) Plasmani drugim bankama 

Procjenjene fer vrijednosti plasmana drugim bankama čije je dospijeće do 180 dana približno odgovara njihovom 

knjigovodstvenom iznosu. Fer vrijednost ostalih plasmana drugim bankama procjenjuje se analizom diskontiranih 

novčanih tokova primjenjujući kamatnu stopu koja se trenutno koristi za slična ulaganja (tržišna kamatna stopa 

usklađena za kreditni rizik). Fer vrijednost dospijelih nenaplaćenih plasmana drugim bankama se procjenjuje 

metodom analize diskontiranih novčanih tokova ili analizirajući procjenjene vrijednosti kolaterala. Prilikom 

izračunavanja fer vrijednosti, rezervisanja se ne uzimaju u obzir. 

(c) Krediti iz sredstava banke 

Fer vrijednost kredita s varijabilnim prinosom, a čija cijena se redovno preispituje i kod kojih nisu zapažene nikakve 

značajne promjene kreditnog rizika, 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 obveze 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 

klijentima približna knjigovodstvenim iznosima na datum bilansa stanja. Prilikom izračunavanja fer vrijednosti, 

rezervisanja se ne uzimaju u obzir. 

(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 pribiližna je 

knjigovodstvenom iznosu na datum bilansa stanja. Fer vrijednost depozita s fiksnom kamatnom stopom procjenjuje 

se diskontiranjem budućin novčanih tokova primjenom kamatnih stopa koje se trenutno primjenjuju na depozite sa 

sličnim preostalim periodom do dospijeća. 

2.9 Materijalna i nematerijalna imovina 

Materijalna i nematerijalna imovina iskazana je po trošku stjecanja i amortizuje se u procjenjenom korisnom 

vijeku trajanja. Amortizacija se obračunava linearno, za svako pojedinačno nabavljeno stalno sredstvo stavljeno u 

upotrebu, primjenom slijedećih stopa amortizacije na nabavnu vrijednost: 

2004 2003 

Zgrade 1,3% 1,3% 

Namještaj i automobili 11%-15,5% 11%-15,5% 

Računari 33,3% 33,3% 

Ostala oprema 7%-20% 7%-20% 

Nematerijalna imovina 20% 20% 




In estimating the fair value of the Bank’s financial instruments, the following methods and assumptions were used: 

(a) Cash and balances with the Central Bank 

The fair values of cash and balances with the central bank are generally deemed to approximate their carrying 

amounts. 

(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. Provisions 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 of the balance sheet date. Provisions are not taken into consideration when calculating fair 

values. 

(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 of the balance sheet date. The fair value of term deposits at variable interest rates approximates their carrying 

values as of 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. 

2.9 Fixed Tangible and Intangible Assets 

Fixed tangible and intangible assets are stated at purchase cost and are depreciated over the estimated useful 

lives of the assets. Depreciation is computed on a straight-line basis for each purchased asset based upon the 

application of the following annual percentages to historical costs: 

2004 2003 

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% 



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Dobici i gubici od prodaje dugotrajne materijalne imovine i opreme utvrđeni su u odnosu na njihovu 

knjigovodstvenu vrijednost i priznaju se u Bilansu uspjeha pod stavkom “Ostali prihodi/(rashodi)” u periodu 

nastanka poslovnog događaja. 

Troškovi vezani uz nabavku softvera se tretiraju kao nematerijalna imovina i amortiziraju se linearnom metodom 

tokom procjenjog vijeka trajanja, ali ne više od pet godina. 

2.10 Porez na dobit 

Porez na dobit se obračunava u skladu sa fiskalnim propisima Federacije Bosne i Hercegovine. U skladu sa 

važećim zakonom, Banka je obavezna obračunavati porez na dobit primjenom stope od 30% na poreznu osnovicu. 

U skladu sa zakonom, Banka koristi oslobođenje od poreza na dobit po osnovu investiranja dijela ostvarene dobiti 

u materijalnu imovinu, za godine koje su završile 31. decembra 2004. i 2003. godine . 

Eventualni odgođeni porezi priznaju se za privremene razlike koje nastaju između poreznih osnovica sredstava 

i obaveza i njihovih knjigovodstvenih iznosa za potrebe finansijskog izvještavanja primjenom metode bilansne 

obaveze i po trenutno važećim stopama. Rezervisanja se utvrđuju za cijeli iznos odgođenih poreznih obaveza. 

Odgođena porezna sredstva priznaju se u onoj mjeri u kojoj je vjerovatno da će biti raspoloživa oporeziva dobit 

koja će omogućiti korištenje porezne imovine. 

2.11 Subordinirani dug 

Subordinirani dug iskazan je po amortiziranom trošku primjenom metode stvarnog prinosa. Rashodi od kamata 

nastali po osnovu subordiniranog duga evidentiraju se u Bilansu uspjeha. 

2.12 Finansijski instrumenti koji se vode u vanbilansnoj evidenciji 

Tokom svog poslovanja Banka izdaje garancije, akreditive i odobrava kredite koji nisu u cijelosti iskorišteni. Ovi 

finansijski instrumenti se iskazuju u Bilansu stanja Banke u trenutku kada i ako Banka po njima podmiri dospjelu 

obavezu. 

2.13 Rezervisanja 

Iznos rezervisanja za garancije i ostale potencijalne i preuzete obaveze priznaje se kao trošak i obaveza, u trenutku 

kada Banka preuzme obavezu i kada postoji mogućnost odliva sredstava kako bi se podmirila preuzeta obaveza. 

Eventualni gubitak nastao po osnovu formiranja rezervisanja priznaje se u Bilansu uspjeha za period na koji se 

gubitak odnosi. 

2.14 Izvještaj o novčanom toku 

U svrhu izvještavanja o novčanim tokovima, stavka novčana sredstva i ekvivalenti novčanih sredstava uključuju 

novčana sredstva i sredstva Banke na računima kod drugih banaka. 

2.15 Poslovi u ime i za račun 

Banka upravlja sredstvima stanovništva, preduzeća i ostalih organizacija za koje obračunava naknadu. Budući da 

ti iznosi ne predstavljaju aktivu, odnosno sredstva Banke, oni su isključeni iz Bilansa stanja koji je prezentiran ovim 

Izvještajem (vidi Napomenu 29). 




The gain and loss arising on the disposal of property and equipment is determined based on their carrying value 

and are recognized in the Income Statement as “Other income/(expense)” in the year of disposal. 

Costs associated with acquiring software are treated as intangible assets and are amortized on a straight-line basis 

over the estimated useful life, not exceeding five years. 

2.10 Income Taxes 

The taxation charge is based on fiscal law of Federation of Bosnia and Herzegovina. Under the current fiscal 

legislation, the Bank is liable for income taxes at the rate of 30% on taxable income. According to the Law, the 

Bank is exempted from income tax, to the extent it is invested in fixed assets, for the years ended 31 December 

2004 and 2003. 

Deferred taxes, if any, are provided for temporary differences arising between the tax bases of assets and liabilities 

and their carrying values for financial reporting purposes, using the liability method at currently enacted tax rates. 

Deferred tax liabilities are recognized in full. Deferred tax assets are recorded to the extent that it is probable that 

future taxable profit will be available against which the tax assets can be utilised. 

2.11 Subordinated Debt 

Subordinated debt is stated at amortised cost using the effective interest rate method. Interest expense arising from 

subordinated debt is included in the income statement. 

2.12 Off-Balance Sheet Financial Instruments 

In the ordinary course of its business, the Bank has entered into off-balance-sheet financial instruments such 

as guarantees, letters of credit and loan commitments. These financial instruments are recorded in the Bank’s 

Balance sheet if and when they become payable. The amount of provisions for guarantees and other off-balancesheet 

credit related commitments is recognized as an expense and a liability. 

2.13 Provisions 

Provisions are recognised when the Bank has present legal or constructive obligations, which has occurred as a 

result of a past event, it is probable that an outflow of resources embodying economic benefits will be required 

to settle that obligation. Any loss resulting from recognition of provision for liability is recognized in the income 

statement for the period. 

2.14 Statement of Cash Flows 

For the purpose of reporting cash flows, cash and cash equivalents include cash on hand and amounts due from 

banks. 

2.15 Managed Funds - Agency Business 

The Bank manages assets on behalf and for the account of citizens, companies and other organizations for 

which a fee is charged. As such amounts do not represent assets of the Bank, they have been excluded from the 

accompanying Balance Sheet (see Note 29). 



101




3. PRIHODI OD KAMATA 


Godina koja se završila 

31. decembra 2004. 

‘000 KM 



‘000 KM 

Stanovništvo 55.989 50.773 

Preduzeća 36.450 29.535 

Strane banke 9.412 6.077 

Domaće banke 69 2 

Amortizacija diskonta 1.686 1.309 

Ostalo 2.898 1.142 

Ukupno 106.504 88.838 

4. RASHODI OD KAMATA 



‘000 KM 



‘000 KM 



Strane banke 9.904 6.596 

Domaće banke 4.839 170 

Ostalo 254 680 

Ukupno 38.162 25.691 

5. PRIHODI OD NAKNADA I PROVIZIJA 



‘000 KM 



‘000 KM 

Unutrašnji platni promet 21.741 18.788 

Transakcije sa stanovništvom 8.557 6.454 

Krediti i garancije 3.553 2.983 

Konverzije stranih valuta 2.373 2.564 

Ostalo 176 59 

Ukupno 36.400 30.848



3. INTEREST INCOME 

Year ended 

31 December 2004 

‘000 KM 

Year ended 


‘000 KM 

Citizens 55,989 50,773 

Companies 36,450 29,535 

Foreign Banks 9,412 6,077 

Domestic Banks 69 2 

Amortization of discount 1,686 1,309 

Other 2,898 1,142 

Total 106,504 88,838 

4. INTEREST EXPENSE 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Citizens 15,898 12,891 

Companies 7,267 5,354 

Foreign Banks 9,904 6,596 

Domestic Banks 4,839 170 

Other 254 680 

Total 38,162 25,691 

5. FEE AND COMMISSION INCOME 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Domestic payment transactions 21,741 18,788 

Transactions with citizens 8,557 6,454 

Loans and guarantees 3,553 2,983 

FX transactions 2,373 2,564 

Other 176 59 

Total 36,400 30,848 



103




6. RASHODI OD NAKNADA I PROVIZIJA 




‘000 KM 



‘000 KM 

Unutrašnji platni promet 599 336 

Korespodentni računi 209 289 

Ostalo 4.249 2.983 

Ukupno 5.057 3.608 

7. NETO DOBIT IZ FINANSIJSKOG POSLOVANJA 



‘000 KM 



‘000 KM 

Prihodi od kursnih razlika iz poslovanja 5.625 5.430 

Rashodi od kursnih razlika iz poslovanja (487) (167) 

Ukupno 5.138 5.263 

8. OSTALI PRIHODI 



‘000 KM 



‘000 KM 

Prihod od kamata iz ranijeg perioda 1.809 - 

Ostali prihod 551 396 

Ukupno 2.360 396 

9. NAPLAĆENA OTPISANA POTRAŽIVANJA 

Naplaćena otpisanja potraživanja uključuju: 



‘000 KM 



‘000 KM 

Glavnica 4.028 1.811 

Kamata 1.645 1.104 

Naknade 472 97 

Ukupno 6.145 3.012



6. FEE AND COMMISSION EXPENSE 

Year ended 


‘000 KM 

Year ended 


‘000 K 

Domestic payment transactions 599 336 

Correspondent accounts 209 289 

Other 4,249 2,983 

Total 5,057 3,608 

7. NET TRADING INCOME 

Year ended 


‘000 KM 

Year ended 31 

December 2003 

‘000 KM 

Gains on foreign exchange transactions 5,625 5,430 

Losses on foreign exchange transactions (487) (167) 

Total 5,138 5,263 

8. OTHER OPERATING INCOME 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Interest income from previous period 1,809 - 

Other income 551 396 

Total 2,360 396 

9. COLLECTED WRITE-OFFS 

Collected write-offs comprise of: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Principal 4,028 1,811 

Interest 1,645 1,104 

Fees 472 97 

Total 6,145 3,012 



105




10. OPŠTI I ADMINISTRATIVNI TROŠKOVI 

Opšti i administrativni troškovi obuhvataju: 




‘000 KM 



‘000 KM 

Troškovi zaposlenih 32.636 28.368 

Troškovi usluga 5.839 5.158 

Zakupnine 4.016 3.771 

Telekomunikacije 2.852 2.650 

Premije osiguranja štednih uloga i kredita 2.938 2.378 

Troškovi reprezentacije i marketinga 2.436 1.924 

Troškovi tekućeg održavanja 2.096 1.801 

Materijalni troškovi 1.629 1.651 

Premije osiguranja imovine 2.601 1.316 

Troškovi energije 592 521 

Rashodi po osnovu obračunskih kursnih razlika 542 562 

Obrazovanje 400 267 

Donacije 294 253 

Rashodi osnovnih sredstava 190 37 

Troškovi pripajanja - 11 

Ostali administrativni troškovi 5.407 4.479 

Ukupno 64.468 55.147 

Banka nema druge penzione aranžmane osim državnog penzionog sistema Bosne i Hercegovine. Prema sistemu, 

poslodavac je dužan obračunati tekuće doprinose i porez u procentu od bruto plaća, 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 2004. i 2003. bio je 1.061, odnosno 1.020.



10. GENERAL AND ADMINISTRATIVE EXPENSE 

General and administrative expenses may be presented as follows: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Personnel expenses 32,636 28,368 

Services 5,839 5,158 

Rent 4,016 3,771 

Telecommunication expense 2,852 2,650 

Deposits insurance premiums 2,938 2,378 

Representation and marketing expense 2,436 1,924 

Current repairs 2,096 1,801 

Material expenses 1,629 1,651 

Assets insurance premiums 2,601 1,316 

Energy 592 521 

Foreign exchange losses 542 562 

Education 400 267 

Donations 294 253 

Disposals of fixed assets 190 37 

Integration expenses - 11 

Other expenses 5,407 4,479 

Total 64,468 55,147 

The Bank does not have or contribute to any pension arrangements other than the state pension systems of Bosnia 

and Herzegovina. According to this system, the employer is obliged to calculate a percentage of current contributions 

and tax from gross salaries and those accrued expenses shall be charged to the income statement. The Bank does 

not have future liabilities for employees’ pensions payments. The average number of employees for the years ended 

31 December 2004 and 2003 was 1,061 and 1,020, respectively. 



107




11. UMANJENJA VRIJEDNOSTI I REZERVISANJA 




‘000 KM 



‘000 KM 

Plasmani kod drugih banaka 16 (397) 

Krediti iz sredstava banke 17.969 14.867 

Kupljeni krediti držani do dospijeća 608 1.961 

Potraživanja za obračunatu kamatu 774 635 

Materijalna sredstava 1.068 (69) 

Ulaganja (1.173) 365 

Ostale aktiva 96 398 

Rezervisanja 3.144 1.214 

Ukupno 22.502 18.974 

12. POREZ NA DOBIT 

Svođenje računovodstvene dobiti na poreski bilans može se prikazati kako slijedi: 



‘000 KM 



‘000 KM 

Računovodstvena dobit 21.146 20.271 

Porezno nepriznati rashodi i prihodi koji se ne oporezuju 1.189 3.944 

Porezna osnovica 22.335 24.215 

Obaveza poreza na dobit od 30% 6.701 7.264 

Porezna oslobođenja (6.701) (7.264) 

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 period od 12 mjeseci do dana 31. decembra 2004., 

odnosno 31. decembra 2003. 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.



11. IMPAIRMENT LOSSES AND PROVISIONS 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Placements with banks 16 (397) 

Loans originated by the Bank 17,969 14,867 

Purchased loans 608 1,961 

Interest receivable 774 635 

Fixed assets 1,068 (69) 

Investments (1,173) 365 

Other assets 96 398 

Provisions 3,144 1,214 

Total 22,502 18,974 

12. INCOME TAXES 

Reconciliation of accounting and taxation income: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Profit before income tax 21,146 20,271 

Non-deductible expenses and taxable income relieves 1,189 3,944 

Taxable income 22,335 24,215 

Income tax liability of 30% 6,701 7,264 

Income tax exemption (6,701) (7,264) 

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 2004 and 2003 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 

exemption for investments in fixed assets are available on continuous basis. 



109




13. NOVAC I SREDSTVA KOD BANAKA 

31. decembar 2004. 31. decembar 2003. 

‘000 KM 

‘000 KM 

Novac u blagajni u domaćoj valuti 17.923 15.982 

Novac u blagajni u stranoj valuti 

Žiro račun u domaćoj valuti kod 

19.639 18.654 

Centralne Banke 101.102 26.372 

Potraživanja od banaka u stranoj valuti 10.262 14.431 

Čekovi u stranoj valuti 85 122 

Ukupno 149.011 75.561 

14. OBAVEZNA REZERVA KOD CENTRALNE BANKE 


‘000 KM 

‘000 KM 

Obavezna rezerva 182.955 58.063 

Ukupno 182.955 58.063 

Obavezna rezerva se izračunava u visini od 10% odnosno 5% prosječnog iznosa ukupnih depozita i pozajmljenih 

sredstava u posljednjih deset dana na dan 31. decembra 2004. godine odnosno 31. decembra 2003. godine. 




13. CASH AND DUE FROM BANKS 

31 December 2004 31 December 2003 

‘000 KM 

‘000 KM 

Cash on hand in domestic currency 17,923 15,982 

Cash on hand in foreign currency 

Current account in domestic currency 

19,639 18,654 

with the Central Bank 101,102 26,372 

Correspondent accounts with banks in foreign currency 10,262 14,431 

Checks in foreign currency 85 122 

Total 149,011 75,561 

14. OBLIGATORY RESERVE WITH THE CENTRAL BANK 


‘000 KM 

‘000 KM 

Obligatory reserve 182,955 58,063 

Total 182,955 58,063 

Minimum obligatory reserve as of 31 December 2004 and 31 December 2003 is calculated in amount of 10% 

and 5%, 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. 



111




15. PLASMANI KOD DRUGIH BANAKA 


31. decembar 2004. 

‘000 KM 


‘000 KM 

Kratkoročni plasmani kod banaka u slijedećim zemljama: 

Bosna i Hercegovina 3.024 24 

Zemlje OECD-a 579.892 386.588 

Ukupan bruto iznos plasmana drugim 

kreditnim institucijama 582.916 386.612 

Umanjeno za rezervisanja za moguće gubitke (16) - 

Ukupno 582.900 386.612 

Kamatna stopa na plasmane u EUR iznosila je 2,00% – 2,18% godišnje odnosno 1,55% - 2,15% godišnje, a na 

plasmane u USD od 1,72% do 2,48% godišnje odnosno 0,01% - 1,07% godišnje na dan 31. decembra 2004. 

odnosno 31. decembra 2003. godine. Kamatna stopa na ostale valute kretala se od 0,65% – 5,22% godišnje 

odnosno 0,18% - 4,80% godišnje tokom 2004. i 2003. godine. 

Promjene na rezervisanjima za moguće gubitke po plasmanima kod drugih banaka mogu se prikazati kako slijedi: 



‘000 KM 



‘000 KM 

Stanje na dan 1. januara - 379 

Donos od Raiffeisen Bank HPB d.d. - 18 

Povećanje rezervisanja 45 

Smanjenje rezervisanja (29) (397) 

Stanje na dan 31. decembra 16 -



15. PLACEMENTS WITH OTHER BANKS 


‘000 KM 


‘000 KM 

Short-term placements with banks in following countries: 

Bosnia and Herzegovina 3,024 24 

OECD countries 579,892 386,588 

Placements to other financial institutions, gross 582,916 386,612 

Less: Provisions for possible losses for placements (16) - 

Total 582,900 386,612 

The interest rate for placements in EUR was 2.00% – 2.18% p.a. and 1.55% – 2.15% p.a. and for placements 

in USD 1.72% – 2.48% p.a. and 0.01% – 1.07% p.a. as at 31 December 2004 and 2003, respectively. Interest 

rate on placements in other currencies was 0.65% – 5.22% p.a. and 0.18% – 4.80% p.a. during 2004 and 2003, 

respectively. 

The movements in the provision for impairment of placements with other banks are summarized as follows: 


‘000 KM 

‘000 KM 

Balance as at 1 January - 379 

Transfer from Raiffeisen Bank HPB d.d. - 18 

Provisions charged 45 

Reversal of provisions (29) (397) 

Balance as at 31 December 16 - 



113




16. KREDITI IZ SREDSTAVA BANKE 


‘000 KM 

‘000 KM 

Kratkoročni krediti u domaćoj valuti 295.888 201.072 

Kratkoročni krediti u stranoj valuti 2.037 5.005 

Tekuće dospijeće dugoročnih kredita 235.794 211.543 

Ukupno kratkoročni krediti 533.719 417.620 

Dugoročni krediti u domaćoj valuti 778.595 616.897 

Dugoročni krediti u stranoj valuti 25.869 18.483 

(Tekuće dospijeće dugoročnih kredita) (235.794) (211.543) 

Ukupno dugoročni krediti 568.670 423.837 

Ukupno krediti prije rezervisanja za moguće gubitke 1.102.389 841.457 

Rezervisanja za moguće gubitke (50.656) (38.107) 

Ukupno 1.051.733 803.350 

Svi krediti komitentima odobreni su u Bosni i Hercegovini. Kratkoročni krediti odobreni su na period od 30 do 90 

dana uz mogućnost refinansiranja, prema procjeni Banke, za dodatni period od 30 do 90 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: 




‘000 KM 



‘000 KM 

Stanje na dan 1. januara 38.107 23.052 

Donos od Raiffeisen Bank HPB d.d. - 5.209 

Povećanje rezervisanja 59.561 54.873 

Smanjenje rezervisanja (41.592) (40.006) 

Otpisi (5.420) (5.021) 

Stanje na dan 31. decembra 2004. i 2003. 50.656 38.107 

Ukupan iznos glavnice po kojoj je prestao obračun kamata na dan 31. decembra 2004. i 2003. iznosio je 30.378 

hiljada KM odnosno 11.276 hiljada KM.



16. LOANS ORIGINATED BY THE BANK 


‘000 KM 

‘000 KM 

Short-term loans in domestic currency 295,888 201,072 

Short-term loans in foreign currency 2,037 5,005 

Current portion of long-term loans 235,794 211,543 

Total short-term loans 533,719 417,620 

Long-term loans in domestic currency 778,595 616,897 

Long-term loans in foreign currency 25,869 18,483 

(Current portion of long-term loans) (235,794) (211,543) 

Total long-term loans 568,670 423,837 

Total loans before provisions 1,102,389 841,457 

Provision for impairment (50,656) (38,107) 

Total 1,051,733 803,350 

All loans are placed with customers in Bosnia and Herzegovina. Short-term loans are granted for periods of 30 to 90 

days and can be rolled over, at the discretion of the Bank, for additional periods ranging from 30 to 90 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: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Balance as at 1 January 38,107 23,052 

Transfer from Raiffeisen Bank HPB d.d. - 5,209 

Provisions charged 59,561 54,873 

Reversal of provisions (41,592) (40,006) 

Write-offs (5,420) (5,021) 

Balance as at 31 December 50,656 38,107 

Total amount of non-performing loans on which interest was suspended as at 31 December 2004 and 2003 was KM 

30,378 and KM 11,276 thousands, respectively. 



115




16. KREDITI IZ SREDSTAVA BANKE (NASTAVAK) 


‘000 KM 

‘000 KM 

Trgovina 244.255 97.609 

Građevinska industrija 24.611 18.154 

Usluge, finansije, sport, turizam 75.434 30.292 

Administrativne i druge javne ustanove 2.857 4.086 

Poljoprivreda, šumarstvo, rudarstvo i energetika 108.740 17.671 

Transport, PTT, komunikacije 35.109 31.546 

Ostalo 10.757 25.684 


Ukupno 1.102.389 841.457 

Kamatne stope po kreditima na dan 31. decembra 2004. i 2003. mogu se prikazati kako slijedi: 



‘000 KM 

Godišnja 

kamatna stopa ‘000 KM 

Godišnja 

kamatna stopa 

KM 

Preduzeća 496.552 3,5% - 14% 345.063 8,0% - 12,0% 

Stanovništvo 589.717 3,61% - 16% 472.906 8,0% - 13,75% 

Strana valuta 

Preduzeća 5.211 6,21% - 12% 9.466 6,0% - 11,0% 

Stanovništvo 10.909 6,55% - 12% 14.022 8,0% - 12,0% 

Ukupno 1.102.389 841.457



16. LOANS ORIGINATED BY THE BANK (CONTINUED) 


‘000 KM 

‘000 KM 

Trade 244,255 97,609 

Construction industry 24,611 18,154 

Services. finance. sport. tourism 75,434 30,292 

Administrative and other public institutions 2,857 4,086 

Agriculture. forestry. mining and energy 108,740 17,671 

Transport and telecommunications 35,109 31,546 

Other 10,757 25,684 

Citizens 600,626 616,415 

Total 1,102,389 841,457 

Interest rates for granted loans as at 31 December 2004 and 2003 are summarized as follows: 


‘000 KM 

Annual 

interest rate ‘000 KM 

Annual 

interest rate 

Domestic currency 

Companies 496,552 3,5% - 14% 345,063 8,0% - 12,0% 

Citizens 589,717 3,61% - 16% 472,906 8,0% - 13,75% 

Foreign currency 

Companies 5,211 6,21% - 12% 9,466 6,0% - 11,0% 

Citizens 10,909 6,55% - 12% 14,022 8,0% - 12,0% 

Total 1,102,389 841,457 



117




17. KUPLJENI KREDITI KOJI SE DRŽE DO DOSPIJEĆA 


‘000 KM 

‘000 KM 

Neotplaćeni dio glavnice 5.730 11.006 

Neamortizirani diskont (3.143) (4.829) 

Rezervisanje za moguće gubitke (1.451) (1.961) 

Ukupno 1.136 4.216 

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 promjenivim kamatnim stopama. 

Kretanja diskonta se mogu prikazati kako slijedi: 




‘000 KM 



‘000 KM 

Početno stanje 4.829 - 

Ostvareni diskont - 6.138 

Amortizacija diskonta (1.686) (1.309) 

Neamortizovani diskont na kraju godine 3.143 4.829 

Kretanja na rezervisanjima za moguće gubitke po kupljenim kreditima se mogu prikazati kako slijedi: 



‘000 KM 



‘000 KM 

Stanje na dan 1. januara 1.961 - 

Povećanje rezervisanja 608 1.961 

Smanjenje rezervisanja - - 

Otpisi (1.118) - 

Stanje na dan 31. decembra 1.451 1.961



17. PURCHASED LOANS HELD TO MATURITY 


‘000 KM 

‘000 KM 

Principal amount outstanding 5,730 11,006 

Unamortized discount (3,143) (4,829) 

Provision for impairment (1,451) (1,961) 

Total 1,136 4,216 

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: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Opening balance 4,829 - 

Discount recognized - 6,138 

Amortized discount (1,686) (1,309) 

Unamortized discount as of period end 3,143 4,829 

The movements in provision for impairment of purchased loans are summarized as follows: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Balance as at 1 January 1,961 - 

Provisions charged 608 1,961 

Reversal of provisions - - 

Write – offs (1,118) - 




119




18. POTRAŽIVANJA ZA OBRAČUNATU KAMATU 


‘000 KM 

‘000 KM 

Potraživanja za obračunate kamate 6.195 5.140 

Rezervisanja za moguće gubitke (192) (158) 

Ukupno 6.003 4.982 

Promjene na rezervisanjima za moguće gubitke po kamatama mogu se prikazati kako slijedi: 




‘000 KM 



‘000 KM 

Stanje na dan 1. januara 158 116 



Smanjenje rezervisanja (511) 626 

Otpisi (740) (617) 

Stanje na dan 31. decembra 192 158



18. ACCRUED INTEREST RECEIVABLE 


‘000 KM 

‘000 KM 

Accrued interest receivable 6,195 5,140 

Provision for impairment (192) (158) 

Total 6,003 4,982 

The movements in the provision for impairment of accrued interest receivable are summarized as follows: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Balance as at 1 January 158 116 



Reversal of provisions (511) 626 

Write-offs (740) (617) 

Balance as at 31 December 192 158 



121




19. ULAGANJA 

Ulaganja obuhvataju sljedeće: 



‘000 KM 


‘000 KM 

Pod kontrolom banke: 

Raiffeisen osiguranje d.d., Sarajevo 2.923 2.578 

MI Group d.o.o., Sarajevo 1.610 1.610 

Raiffeisen brokers d.o.o., Sarajevo 200 150 

Manjinski interes: 

Euromarket bank, Podgorica 600 600 

PIF MI group d.d. Sarajevo 100 - 

Ostalo 22 22 

Ukupno ulaganja 5.455 4.960 

Rezervisanja za moguće gubitke (576) (1.749) 

Ukupno 4.879 3.211 

Promjene na rezervisanjima za moguće gubitke po ulaganjima mogu se prikazati kako slijedi: 



‘000 KM 



‘000 KM 



Rezervisanja za moguće gubitke 476 768 

Smanjenje rezervisanja (1.649) (403) 

Stanje na dan 31. decembra 576 1.749 

Struktura ulaganja prema djelatnosti i zemlji poslovanja data je kako slijedi: 

Preduzeće Djelatnost % vlasništva Zemlja poslovanja 

MI Group d.o.o., Sarajevo Investicioni fond 

Društvo za poslovanje 

100% Bosna i Hercegovina 

Raiffeisen Brokers d.o.o. Sarajevo vrijednosnim papirima 100% Bosna i Hercegovina 

Raiffeisen osiguranje d.d., Sarajevo Osiguranje 94,09% Bosna i Hercegovina 

Euromarket banka, Podgorica Bankarstvo 4,30% Srbija i Crna Gora 

Bamcard d.o.o. Sarajevo Kartičarsko poslovanje 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



19. INVESTMENTS 

Investments are summarized as follows: 


‘000 KM 


‘000 KM 

Investments in subsidiaries: 

Raiffeisen osiguranje d.d., Sarajevo 2,923 2,578 

MI Group d.o.o., Sarajevo 1,610 1,610 

Raiffeisen brokers d.o.o.,Sarajevo 200 150 

Investments in minority interest: 

Euromarket bank, Podgorica 600 600 

PIF MI Group d.d. Sarajevo 100 - 

Others 22 22 

Total investments 5,455 4,960 

Provision for impairment (576) (1,749) 

Total 4,879 3,211 

The movements in the provision for impairment of investments are summarized as follows: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 



Provisions charged 476 768 

Reversal of provisions (1,649) (403) 

Balance as at 31 December 576 1,749 

Structure of investments by industry and country of origin 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 

Raiffeisen osiguranje d.d., Sarajevo Insurance 94.09% Bosnia and Herzegovina 

Euromarket bank, Podgorica Banking 4.30% Serbia and Montenegro 

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 



123




20. OSTALA IMOVINA 


‘000 KM 

‘000 KM 

Potraživanja po osnovu spot transakcija i arbitraža 9.657 10.503 

Preplata poreza na dobit 8.177 6.356 

Dati avansi za materijalnu imovinu 367 2.050 

Unaprijed plaćeni troškovi 1.987 1.369 

Potraživanja za naknade 1.498 1.459 

Ostala imovina 5.834 5.052 

Ukupno ostala imovina 27.520 26.789 

Rezervisanja za moguće gubitke (613) (990) 

Ukupno 26.907 25.799 

Promjene na rezervisanjima za moguće gubitke po ostaloj aktivi mogu se prikazati kako slijedi: 




‘000 KM 



‘000 KM 

Stanje na dan 1. januara 990 774 


Prijenos na dugotrajnu imovinu (89) - 


Smanjenje rezervisanja (1.553) (1.692) 

Otpisi (384) (193) 

Stanje na dan 31. decembra 613 990



20. OTHER ASSETS 


‘000 KM 

‘000 KM 

Receivable from spot FX transactions 9,657 10,503 

Prepaid taxes 8,177 6,356 

Advances for fixed assets 367 2,050 

Prepaid expenses 1,987 1,369 

Fees receivable 1,498 1,459 

Other assets 5,834 5,052 

Total other assets 27,520 26,789 

Provision for impairment (613) (990) 

Total 26,907 25,799 

The movements in the provision for impairment of other assets are summarized as follows: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 

Balance as at 1 January 990 774 


Transfer to fixed assets (89) - 



Write-offs (384) (193) 

Balance as at 31 December 613 990 



125




21. DUGOTRAJNA MATERIJALNA I NEMATERIJALNA IMOVINA 

Nabavna vrijednost 


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 2003. 7.118 1.376 19.198 3.791 8.797 40.280 

Nabavke 2 - - 14.985 56 15.043 

Prijenos s investicija u toku 9.875 538 3.274 (14.155) 468 - 

Otuđenja - (188) (1.055) - (63) (1.306) 

31. decembar 2004. 16.995 1.726 21.417 4.621 9.258 54.017 

Ispravka vrijednosti 

31. decembar 2003. 458 338 7.402 - 4.203 12.401 

Amortizacija za 2004. 124 226 3.242 - 1.620 5.212 

Otuđenja - (84) (716) - (34) (834) 

31. decembar 2004. 582 480 9.928 - 5.789 16.779 

Sadašnja vrijednost 

31. decembar 2004., 

prije rezervisanja 16.413 1.246 11.489 4.621 3.469 37.238 

Rezervisanja 

31. decembra 2003. - - 179 1.431 - 1.610 

- Prijenos sa/na - - - 89 - 89 

- Povećanje rezervisanja - - 200 925 - 1.125 

- Smanjenje rezervisanja - - (57) - - (57) 

Stanje 31. decembra 2004. - - 322 2.445 - 2.767 


31. decembra 2004. 16.413 1.246 11.167 2.176 3.469 34.471 


31. decembra 2003. 6.660 1.038 11.617 2.360 4.594 26.269 

Na dan 31. decembra 2004. i 2003. 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. Uprava vjeruje da se nadoknadiva vrijednost ove 

investicije ne razlikuje materijalno u odnosu na iskazanu knjigovodstvenu vrijednost. Banka je već pokrenula aktivnosti 

za realizaciju ove investicije prodajom iste ili zamjenom za novi prostor kod drugog građevinskog preduzeća.



21. FIXED AND INTANGIBLE ASSETS 

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 2003 7,118 1,376 19,198 3,791 8,797 40,280 

Additions 2 - - 14,985 56 15,043 

Transfers 9,875 538 3,274 (14,155) 468 - 

Disposals - (188) (1,055) - (63) (1,306) 

31 December 2004 16,995 1,726 21,417 4,621 9,258 54,017 

Depreciation 

31 December 2003 458 338 7,402 - 4,203 12,401 

Depreciation in 2004 124 226 3,242 - 1,620 5,212 

Disposals - (84) (716) - (34) (834) 

31 December 2004 582 480 9,928 - 5,789 16,779 

Net book value: 

31 December 2004, 

before provision for 

impairment 16,413 1,246 11,489 4,621 3,469 37,238 

Provision for impairment 

31 December 2003 - - 179 1,431 - 1,610 

Transfer from/to - - - 89 - 89 

- Provisions charged - - 200 925 - 1,125 

- Reversals of provisions - - (57) - - (57) 

31 December 2004 - - 322 2,445 - 2,767 


31 December 2004 16,413 1,246 11,167 2,176 3,469 34,471 



31 December 2003 6,660 1,038 11,617 2,360 4,594 26,269 

The total construction-in-progress as of 31 December 2004 and 2003 includes KM 2,862 thousand, which relates 

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. Management believes that the net realizable value of this 

investment is not materially different from its carrying amount. The Bank has already initiated activities to realize 

this investment either through the sale or exchange for another facility with the construction company. 


127




22. OBAVEZE PREMA DRUGIM BANKAMA 



‘000 KM 


‘000 KM 

Tekuće dospijeće dugoročnih kredita 96.626 23.582 

Dugoročni krediti od stranih banaka 365.881 201.336 

Dugoročni krediti od domaćih banaka 3.632 2.137 

(Tekuće dospijeće dugoročnih obaveza po kreditima) (96.626) (23.582) 

Ukupno dugoročne obaveze po kreditima 272.887 179.891 

Tekući računi banaka u domaćoj valuti 25 38 

Tekući računi banaka u stranoj valuti 197 474 

Ukupno tekući računi 222 512 

Kratkoročni depoziti banaka u domaćoj valuti 874 3.231 

Kratkoročni depoziti banaka u stranoj valuti 2.274 401 

Ukupno kratkoročni depoziti 3.148 3.632 

Dugoročni depoziti 62.748 23.631 

Ukupno 435.631 231.248 

Struktura dugoročnih kredita od ino banaka i nebankarskih kreditinih institucija na dan 31. decembra 2004. i 2003. 

godine je slijedeća: 


‘000 KM 

‘000 KM 

RZB Wien i Raiffeisenlandenbank Karnten 214.815 144.732 

Commercbank AG 3.667 4.890 

EBRD 98.483 14.115 

IFC 26.007 13.718 

Kreditanstalt fuer Wiederaufbau 22.909 23.881 

Ukupno 365.881 201.336 

Kamatna stopa na primljene dugoročne kredite od banaka je po stopi od 2% do 5% godišnje odnosno 2% do 6,55% 

godišnje na dan 31. decembra 2004 i 2003. godine.



22. DUE TO BANKS 


‘000 KM 


‘000 KM 

Current portion of long-term borrowings 96,626 23,582 

Long-term borrowings from foreign banks 365,881 201,336 

Long-term borrowings from domestic banks 3,632 2,137 

(Current portion of long-term borrowings) (96,626) (23,582) 

Total long-term borrowings 272,887 179,891 

Current accounts in domestic currency 25 38 

Current accounts in foreign currency 197 474 

Total current accounts 222 512 

Short-term deposits in domestic currency 874 3,231 

Short-term deposits in foreign currency 2,274 401 

Total short-term deposits 3,148 3,632 

Long-term deposits 62,748 23,631 

Total 435,631 231,248 

Long-term borrowings from international banks and non-banking financial institutions as at 31 December 2004 and 

2003 are as follows: 


‘000 KM 

‘000 KM 

RZB Wien and Raiffeisenlandenbank Karnten 214,815 144,732 

Commercbank AG 3,667 4,890 

EBRD 98,483 14,115 

IFC 26,007 13,718 

Kreditanstalt fuer Wiederaufbau 22,909 23,881 

Total 365,881 201,336 

Interest rates for long-term borrowings from banks were in the range from 2% to 5% per annum and from 2% to 

6.55% per annum as of 31 December 2004 and 2003, respectively. 



129




23. SUBORDINIRANI DUG 


‘000 KM 

‘000 KM 

RZB Beč 32.271 19.558 

DEG 9.779 9.779 

Ukupno 42.050 29.337 

Subordinirani dug od RZB Beč u iznosu od 32.271 hiljade KM odnosno 19.558 hiljada KM na dan 31. decembra 

2004. odnosno 2003. godine sastoji se od: 

a. 3 subordinirana kredita primljena 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%. 

b. 2 subordinirana kredita primljena tokom 2004. godine u mjesecu junu i decembru u ukupnom iznosu od 

12.713 hiljade 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%. 

• Iznosu od 2.934 hiljada 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%. 

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.



23. SUBORDINATED DEBT 


‘000 KM 

‘000 KM 

RZB Wien 32,271 19,558 

DEG 9,779 9,779 

Total 42,050 29,337 

The subordinated loans from RZB Vienna as of December 31, 2004 and 2003 respectively amounting to KM 

32,271 thousand and KM 19,558 thousand are comprised of: 

a. Three subordinated loans received in 2003 totalling KM 19,558 thousand (EUR 10 milions), repayable in 

semi-annual installments from 20 June 2008 until 20 June 2013. The interest rate is EURIBOR + 2.5%. 

b. Two subordinated loans received during the 2004, in June and December, 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 installments 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 installments starting from 

20 December 2009 until 20 December 2011. 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 installments 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. 



131




24. OBAVEZE PREMA KLIJENTIMA 



‘000 KM 


‘000 KM 

Depoziti po viđenju: 

Stanovništvo: 

U KM 133.823 92.173 

U stranoj valuti 197.067 163.144 

Podzbir 330.890 255.317 

Pravne osobe: 

U KM 288.014 248.693 


Podzbir 383.349 329.806 

Ukupno depoziti po viđenju 714.239 585.123 

Oročeni depoziti: 

Stanovništvo: 

U KM 52.223 32.372 


Podzbir 405.171 324.648 

Pravne osobe: 

U KM 86.297 58.043 


Podzbir 276.930 106.322 

Ukupno oročeni depoziti 682.101 430.970 

Ukupno 1.396.340 1.016.093 

Kamatna stopa na depozite po viđenju u 2004. i 2003. godini iznosila je 0,50% odnosno od 0,75% do 1% za 

depozite po viđenju u KM, te od 0,25% do 1,75% u 2004., a od 1% do 2% u 2003. na depozite po viđenju u stranoj 

valuti. Kamatne stope na kraktoročne depozite kretale su se od 1,2% do 4,2% u 2004., te od 1,8% do 4,4% u 2003. 

godini. Kamatne stope na dugoročne depozite kretale su se od 4,60% do 6,20% u 2004., te od 4,40% do 6,20% u 

2003. godini.



24. DUE TO CUSTOMERS 


‘000 KM 


‘000 KM 

Demand deposits: 

Citizens: 

In KM 133,823 92,173 

In foreign currencies 197,067 163,144 

Subtotal 330,890 255,317 

Legal entities: 

In KM 288,014 248,693 


Subtotal 383,349 329,806 

Total demand deposits 714,239 585,123 

Term deposits: 

Citizens: 

In KM 52,223 32,372 


Subtotal 405,171 324,648 

Legal entities: 

In KM 86,297 58,043 


Subtotal 276,930 106,322 

Total term deposits 682,101 430,970 

Total 1,396,340 1,016,093 

Demand deposit interest rates during 2004 and 2003 were 0.50% and from 0.75% to 1%, respectively for demand 

deposits in KM and from 0.25% to 1.75% and 1% to 2%, respectively for demand deposits in foreign currency. Shortterm 

deposit interest rates were from 1.2% to 4.2% and from 1.8% to 4.4% during 2004 and 2003, respectively. 

Long-term deposit interest rates were from 4.60% to 6.20% and from 4.40% to 6.20% during 2004 and 2003, 

respectively. 



133




25. OSTALE OBAVEZE 

Ostale obaveze sažeto su prikazane kako slijedi: 


‘000 KM 

‘000 KM 

Obaveze za obračunatu kamatu 3.996 4.466 

Obaveze iz deviznog poslovanja 7.011 2.235 

Obaveze prema dobavljačima 4.090 1.165 

Ostale obaveze 2.924 2.482 

Obaveze prema dioničarima 8 8 

Razlika - komisioni poslovi 760 - 

Obaveze za zaposlene 32 - 

Obaveze za porez 53 92 

Prelazni račun 1.324 402 

Ukupno 20.198 10.850 

26. TEMELJNI KAPITAL 

31. decembra 2004. 31. decembra 2003. 

Broj Iznos 

Broj Iznos 

Dioničari 

dionica ‘000 KM % dionica ‘000 KM % 

Raiffeisen International Bank Holding AG 267.024 66.756 96.97 173.904 43.476 96.97 

Millenia Beteiligungsverwaltungs GmbH 8.260 2.065 3.00 5.380 1.345 3.0 

Ostali dioničari 48 12 0.03 48 12 0.03 

Kapitalne premije - 4.473 - - 4.473 - 

Ukupno 275.332 73.306 100.00 179.332 49.306 100.00 

U 2004.godini. dionički kapital Banke se povećao sa 49.306 hiljada KM (179.332 dionice) na 73.306 hiljada KM 

(275.332 dionice) kroz 12., 13. i 14. zatvorenu emisiju 96.000 običnih dionica u ukupnom iznosu 24.000 hiljade 

KM. Raiffeisen International Bank Holding AG kupio je dionice u ukupnom iznosu od 23.280 hiljada KM, a Millenia 

Beteiligungsverwaltungs GmbH dionice u ukupnom iznosu od 720 hiljada KM. Dividenda se odobrava i isplaćuje 

samo u skladu sa Odlukom Skupštine Banke. 




25. OTHER LIABILITIES 

Other liabilities are summarized as follows: 


‘000 KM 

‘000 KM 

Interest liabilities 3,996 4,466 

Liabilities from spot FX transactions 7,011 2,235 

Liabilities to vendors 4,090 1,165 

Other liabilities 2,924 2,482 

Liabilities to shareholders 8 8 

Difference – managed funds 760 - 

Liabilities to employees 32 - 

Tax liabilities 53 92 

Suspense account 1,324 402 

Total 20,198 10,850 

26. SHARE CAPITAL 


No. of Amount 

No. of Amount 

Shareholders 

shares ‘000 KM % shares ‘000 KM % 

Raiffeisen International Bank Holding AG 267,024 66,756 96.97 173,904 43,476 96.97 

Millenia Beteiligungsverwaltungs GmbH 8,260 2,065 3.00 5,380 1,345 3.0 

Other shareholders 48 12 0.03 48 12 0.03 

Capital premiums - 4,473 - - 4,473 - 

Total 275,332 73,306 100.00 179,332 49,306 100.00 

During 2004 the Bank’s equity was increased from KM 49,306 thousand ( 179,332 ordinary shares) to KM 73,306 

thousand (275,332 ordinary shares) by the issue of 96,000 ordinary shares for KM 24,000 thousand by way of three 

( 12th, 13th and 14th ) closed ordinary share issues., to . Raiffeisen International Bank Holding AG for shares in total 

amount of KM 23,280 thousand and Millenia Beteiligungsverwaltungs GmbH for shares in total amount of KM 720 

thousand. Dividends are recognized and paid only if approved by the Bank’s General Assembly. 



135




27. POTENCIJALNE I PREUZETE FINANSIJSKE OBAVEZE 



‘000 KM 


‘000 KM 

Potencijalne obaveze: 

Plative garancije 53.003 45.537 

Činidbene garancije 66.851 60.088 

Akreditivi 28.813 29.609 

Dati avali 4.466 5.375 

Ukupno potencijalne obaveze: 153.133 140.609 

Preuzete obaveze: 

Neiskorišteni odobreni krediti 59.461 55.386 

Ukupno 212.594 195.995 

28. REZERVISANJA 

Promjene u rezervisanjima za potencijalne i preuzete finansijske obaveze: 



‘000 KM 



‘000 KM 



Smanjenje vrijednosti (15.635) (12.667) 


Stanje na dan 31. decembra 12.023 8.879



27. CONTINGENT LIABILITIES AND COMMITMENTS 


‘000 KM 


‘000 KM 

Contingent liabilities 

Payment guarantees 53,003 45,537 

Performance guarantees 66,851 60,088 

Letters of credit 28,813 29,609 

Advances 4,466 5,375 

Total contingent liabilities 153,133 140,609 

Commitments 

Unused portion of overdraft loans 59,461 55,386 

Total contingent liabilities and commitments 212,594 195,995 

28. PROVISIONS 

Movements in provision for contingent liabilities and commitments is as follows: 

Year ended 


‘000 KM 

Year ended 


‘000 KM 


Provisions charged for the year 18,779 13,881 


Transfer from Raiffeisen Bank HPB - 484 




137




29. POSLOVI U IME I ZA RAČUN 

Banka upravlja određenim sredstvima u ime i za račun trećih osoba. Ta su sredstva iskazana odvojeno od ostalih 

bančinih sredstava. Za te usluge Banka zaračunava nakanadu od 1% na plasirana sredstva. 



‘000 KM 


‘000 KM 

Pasiva 


Vlada 5.408 3.265 


Ostali 11.409 12.056 

Ukupno 23.742 22.333 

Aktiva 

Krediti preduzećima 15.502 16.022 

Krediti stanovništvu 7.480 6.311 

Ukupno 22.982 22.333 

Obaveze prema kreditorima – Napomena 25 760 - 

Banka nije izdavala garancije za poslove u ime i za račun.



29. 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. 


‘000 KM 


‘000 KM 

Liabilities 

Citizens 1.650 2.954 

Government 5.408 3.265 

Companies 5.275 4.058 

Other 11.409 12.056 

Total 23.742 22.333 

Assets 

Loans to companies 15.502 16.022 

Loans to citizens 7.480 6.311 

Total 22.982 22.333 

Amounts due to original creditors – 

managed funds (Note 25) 760 - 

The Bank has not issued any guarantees related to managed funds. 



139




30. TRANSAKCIJE S POVEZANIM STRANAMA 

Krediti i potencijalne obaveze prema povezanim stranama sa stanjem na dan 31. decembra 2004. i 2003. godine, 

prikazani su kako slijedi: 



Krediti i plasmani 

prije rezervisanja 

‘000 KM 

Potencijalne 

obaveze 

‘000 KM 

Krediti i plasmani 

prije rezervisanja 

‘000 KM 

Potencijalne 

obaveze 

‘000 KM 

MI Group d.o.o. Sarajevo - 200 110 590 

Raiffeisen osiguranje d.d.. Sarajevo 2.044 - - 50 

Raiffeisen Brokers d.o.o.. Sarajevo 426 624 - 250 


Osterreich AG. Beč 17.798 60 10.757 - 

Ukupno 20.268 884 10.867 890 

Obaveze po kreditima i subordiniranom dugu prema povezanim stranama na dan 31. decembra 2004. i 2003. 

prikane su kako slijedi: 


‘000 KM 

‘000 KM 

RZB Beč 284.484 164.290 

Ukupno 284.484 164.290 

Strane se smatraju povezane ako jedna strana ima sposobnost da kontrolira drugu stranu ili ima značajan uticaj na 

drugu stranu pri donošenju finansijskih ili poslovnih odluka. 

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.



30. RELATED-PARTY TRANSACTIONS 

Loans and commitments to related parties as at 31 December 2004 and 2003 are summarized as follows: 


Loans and 

placements, 

before provision 

for impairment 

‘000 KM 

Loans and 

placements, 

before provision 

for impairment 

‘000 KM 

Commitments 

Commitments 

‘000 KM 

‘000 KM 

MI Group d.o.o. Sarajevo 

Raiffeisen Osiguranje d.d., 

- 200 110 590 

Sarajevo 

Raiffeisen Brokers d.o.o., 

2,044 - - 50 

Sarajevo 


426 624 - 250 

Osterreich AG, Vienna 17,798 60 10,757 - 

Total 20,268 884 10,867 890 

Borrowings and subordinated debt from related parties as of 31 December 2004 and 2003 are summarized as 

follows: 


‘000 KM 

‘000 KM 

RZB Vienna 284,484 164,290 

Total 284,484 164,290 

Parties are considered to be related if one party has the ability to control the other party or exercise significant 

influence over the other party in making financial or operational decisions. 

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. 



141




31. SPAJANJE RAIFFEISEN BANK HPB D.D. MOSTAR 

Predstavljena stanja HPB-a su pripojena bančinom bilansu stanja dana 1. januara 2003. godine. Navedeni iznosi su 

umanjeni za salda međusobnih odnosa na navedeni datum. 



‘000 KM 

Aktiva 

Novac i sredstva kod banaka 24.938 

Potraživanja od Centralne banke Bosne i Hercegovine 976 

Plasmani drugim bankama. neto 17 

Krediti. neto 114.566 

Potraživanja za obračunatu kamatu. neto 1.038 

Ulaganja. neto 543 

Materijalna i nematerijalna stalna sredstva 6.166 

Ostala aktiva. neto 419 

UKUPNA SREDSTVA 148.663 

Obaveze 

Obaveze prema drugim bankama 4.222 

Depoziti po viđenju 52.632 

Oročeni depoziti 57.517 

Obaveze za obračunatu kamatu 1.543 

Ostale obaveze 1.110 

UKUPNO OBAVEZE 117.024 

Dionička glavnica 

Dionički kapital 11.684 

Zadržana dobit i rezerve 2.955 

UKUPNO DIONIČKA GLAVNICA 14.639 

UKUPNO OBAVEZE I DIONIČKA GLAVNICA 131.663



31. MERGER OF RAIFFEISEN BANK HPB D.D. MOSTAR 

Presented balances of Raiffeisen Bank HPB d.d. have been added to the Bank’s balance sheet on 1 January 2003. 

Amounts below do not include intercompany balances at that date. 


‘000 KM 

Assets 

Cash and due from banks 24.938 

Due from the Central Bank of Bosnia and Herzegovina 976 

Placements with other banks, net of provision for possible placements losses 17 

Loans, net of provision for possible loan losses 114.566 

Accrued interest receivable, net of provision for possible interest losses 1.038 

Investments 543 

Tangible and intangible fixed assets 6.166 

Other assets, net of provision for possible other assets losses 419 

TOTAL ASSETS 148.663 

Liabilities 

Due to banks 4.222 

Demand deposits 52.632 

Term deposits 57.517 

Accrued interest payable 1.543 

Other liabilities 1.110 

TOTAL LIABILITIES 117.024 

Shareholders’ Equity 

Share capital 11.684 

Retained earnings and reserves 2.955 

TOTAL SHAREHOLDERS’ EQUITY 14.639 

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 131.663 



143




32. KREDITNI RIZIK 

Banka je izložena kreditnom riziku, koji predstavlja rizik nemogućnosti druge strane da podmiri iznose obaveza 

u cijelosti po dospijeću. Banka razvrstava kreditni rizik utvrđujući limite za iznose rizika koje očekuje da će nastati 

u vezi s jednim primaocem ili skupinom primalaca kredita, te za geografske i privredne sektore. Banka prati 

navedene rizike i preispituje ih jednom godišnje ili češće. 

Banka upravlja izloženošću kreditnom riziku redovnim analizama sposobnosti primaoca kredita i potencijalnih 

primaoca da ispune svoje obaveze otplate kamate i glavnice i mjenjanjem limita kreditiranja po potrebi. Banka 

dijelom upravlja kreditnim rizikom i prihvatajući kolateralna jemstva, jemstva preduzeća i lična jemstva. 

Osnovna svrha preuzetih obaveza za kreditiranje je osigurati raspoloživost sredstava prema potrebama klijenata. 

Garancije i odobreni akreditivi, koji predstavljaju neopoziva jemstva da će Banka izvršiti isplatu u slučaju da klijent 

ne može podmiriti svoje obaveze prema trećim stranama, nose isti kreditni rizik kao i krediti. Dokumentarni i 

komercijalni akreditivi, koji predstavljaju pisano preuzimanje obaveza od strane Banke u ime klijenta, na osnovu 

kojih treća strana ima pravo podizati sredstva Banke do ugovorenog iznosa u skladu sa specifičnim uslovima 

i rokovima, osigurani su instrumentima osiguranja u obliku isporuka za koje su izdati, pa time predstavljaju 

značajno manji rizik od neposredne posudbe. 

Preuzete obaveze za kreditiranje predstavljaju neiskorištene odobrene iznose u obliku kredita, garancija ili 

akreditiva. U vezi sa kreditnim rizikom povezanim s preuzetim obavezama za kreditiranje. Banka je potencijalno 

izložena gubitku u iznosu jednakom ukupnim neiskorištenim preuzetim obavezama. Međutim, vjerovatni iznos 

gubitka je manji od ukupnog iznosa neiskorištenih preuzetih obaveza, jer je većina preuzetih obaveza za 

kreditiranje povezana s održavanjem specifičnih kreditnih standarda od strane klijenata. Banka prati razdoblje 

do dospijeća preuzetih obaveza za kreditiranje jer navedene obaveze s dužim rokom općenito predstavljaju veći 

kreditni rizik od onih kratkoročnih. 

33. KAMATNI RIZIK 

Banka je izložena raznim rizicima koji su povezani s učinkom promjena tržišnih kamatnih stopa na finansijski 

položaj i novčani tok Banke. Niže u tabeli sažeto je prikazana izloženost Banke kamatnom riziku. U tabeli su 

prikazana sredstva i obaveze Banke po knjigovodstvenoj vrijednosti, svrstani u kategorije po ugovornoj promjeni 

cijene ili dospjeću, ovisno o tome koji je rok kraći. Aktivnosti Uprave Banke usmjerene su na optimalizaciju prihoda 

od kamata, na način da se nivo tržišnih kamatnih stopa usklađuje sa bančinom poslovnom strategijom. Izloženost 

kamatnom riziku prati se i mjeri koristeći analize dospijeća, simulacije neto dobiti i modele ekonomskih procjena. 




32. CREDIT RISK 

The Bank takes on exposure to credit risk, which is the risk that a counter party will be unable to pay full amounts 

in, when due. Bank restricts 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 geographical and 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. 

The primary purpose of credit related commitments are to ensure that funds are available to a customer as 

required. Guarantees and standby letters of credit, which represent irrevocable assurances that the Bank will make 

payments in the event that a customer cannot meet its obligations to third parties, carry the same credit risk as 

loans. Documentary and commercial letters of credit, which are written undertakings by the Bank on behalf of a 

customer authorizing a third party to draw drafts on the Bank up to a stipulated amount under specific terms and 

conditions, are collateralized by the underlying shipments of goods to which they relate and therefore carry less risk 

than a direct borrowing. 

Commitments to extend credit represent unused portions of authorizations to extend credit in the form of loans, 

guarantees or letters of credit. With respect to credit risk on commitments to extend credit, the Bank is potentially 

exposed to loss in an amount equal to the total unused commitments. However, the likely amount of loss is less 

than the total unused commitments since most commitments to extend credit are contingent upon customers 

maintaining specific credit standards. The Bank monitors the term to maturity of credit commitments because 

longer-term commitments generally have a greater degree of credit risk than shorter-term commitments. 

33. INTEREST RATE RISK 

The Bank is exposed to various risks associated with the effects of fluctuations in the prevailing levels of market 

interest rates on its financial position and cash flows. The table below summarizes the Bank’s exposure to interest 

rate risks. Included in the table are the Bank’s assets and liabilities at carrying amounts, categorized by the earlier 

of contractual re-pricing or maturity dates. Risk management activities are aimed at optimising net interest income, 

given market interest rate levels consistent with the Bank’s business strategies. Exposure to interest rate risk is 

monitored and measured using repricing maturity gap analysis, net income simulation and economic valuation 

models. 



145




33. KAMATNI RIZIK (NASTAVAK) 

‘000 KM 


Do 1 

mjeseca 

Od 

1 do 6 

mjeseci 

Od 

6 do 12 

mjeseci 

Preko 

1 

godine 

Nedefinirano 

dospijeće 

Rezervisanja 

Ukupno 

SREDSTVA 

Novac i sredstva 

kod banaka 10.262 - - - 138.749 - 149.011 

Potraživanja od 

Centralne banke BiH - - - - 182.955 - 182.955 

Plasmani kod 

drugih banaka 577.202 3.000 - 2.714 - (16) 582.900 

Krediti iz sredstava 

banke 60.425 234.015 240.338 567.611 - (50.656) 1.051.733 

Kupljeni krediti 

držani do dospijeća - - - 2.587 - (1.451) 1.136 

Potraživanja za 

obračunatu kamatu 6.195 - - - - (192) 6.003 

Ulaganja - - - - 5.455 (576) 4.879 

Ostala imovina - - - - 27.520 (613) 26.907 

Neto dugotrajna 

materijalna i 

nematerijalna imovina - - - - 37.238 (2.767) 34.471 

Ukupna sredstva (1) 654.084 237.015 240.338 572.912 391.917 (56.271) 2.039.995 

OBAVEZE 

Obaveze prema 

drugim bankama 16.304 28.824 115.760 274.524 219 - 435.631 

Obaveze prema 

klijentima 866.960 185.678 159.278 142.731 41.693 - 1.396.340 

Rezerviranja - - - - - 12.023 12.023 

Ostale obaveze 2.417 1.579 - - 16.202 - 20.198 

Subordinirani dug - 42.050 - 42.050 

Ukupne obaveze (2) 885.681 216.081 275.038 459.305 58.114 12.023 1.906.242 

Bilansna 

neusklađenost na dan 


(1) - (2) (231.597) 20.934 (34.700) 113.607 333.803 (68.294) 133.753 

Ukupna sredstva na 

dan 31. decembra 2003. 450.395 38.954 154.749 636.213 152.327 (44.575) 1.388.063 

Ukupne obaveze na 

dan 31. decembra 2003. 652.186 197.938 119.310 284.806 33.288 8.879 1.296.407 

Bilansna neusklađenost na 

dan 31. decembra 2003. (201.791) (158.984) 35.439 351.407 119.039 (53.454) 91.656



33. INTEREST RATE RISK (CONTINUED) 

‘000 KM 

0-1 

month 

1 to 6 

months 

6 to 12 

months 

Over 

1 year 

Non 

interest 

bearing 


Provision 

for 

impairment Total 

ASSETS 

Cash and due from banks 10,262 - - - 138,749 - 149,011 

Due from the Central Bank - - - - 182,955 - 182,955 

Placements with other banks 577,202 3,000 - 2,714 - (16) 582,900 

Loans originated 

by the Bank 60,425 234,015 240,338 567,611 - (50,656) 1,051,733 

Purchased loans - - - 2,587 - (1,451) 1,136 

Accrued interest 

Receivable 6,195 - - - - (192) 6,003 

Investments - - - - 5,455 (576) 4,879 

Other assets - - - - 27,520 (613) 26,907 

Fixed and intangible assets - - - - 37,238 (2,767) 34,471 

TOTAL ASSETS (1) 654,084 237,015 240,338 572,912 391,917 (56,271) 2,039,995 

LIABILITIES 

Due to other banks 16,304 28,824 115,760 274,524 219 - 435,631 

Due to customers 866,960 185,678 159,278 142,731 41,693 - 1,396,340 

Provisions - - - - - 12,023 12,023 

Other liabilities 2,417 1,579 - - 16,202 - 20,198 

Subordinated debt - 42,050 - 42,050 

TOTAL LIABILITIES (2) 885,681 216,081 275,038 459,305 58,114 12,023 1,906,242 

Mismatch as of 

31 December 2004 (1) - (2) (231,597) 20,934 (34,700) 113,607 333,803 (68,294) 133,753 

Total assets as at 

31 December 2003 450,395 38,954 154,749 636,213 152,327 (44,575) 1,388,063 

Total liabilities as at 

31 December 2003 652,186 197,938 119,310 284,806 33,288 8,879 1,296,407 

Balance mismatch as of 

31 December 2003 (201,791) (158,984) 35,439 351,407 119,039 (53,454) 91,656 


147




33. KAMATNI RIZIK (NASTAVAK) 

Prosječne kamatne stope su izračunate kao ponderirani prosjek za svaku kategoriju imovine i obaveza: 

31. decembar 2004. EUR USD Ostalo KM 

AKTIVA 

Potraživanja od Centralne banke BiH - - - 1.47% 

Plasmani kod banaka 0,9% - 2,06% 0,9%-1,25% 0,19% - 3% - 

Krediti 6,21% - 12% 8,9% - 3,5% - 16% 

OBAVEZE 

Obaveze prema bankama 2,17% - 4,30% - - - 

Depoziti po viđenju 0% - 0,75% 0,25% - 0,75% 0% - 1,75% 0,5% 

Oročeni depoziti 1,2% - 6,20% 

Euribor + 2,15% 

0,35% - 1% 0,2% - 3,35% 1% - 6,20% 

Subordinirani dug 

Euribor + 3% - - - 

31. decembar 2003. EUR USD Ostalo KM 

AKTIVA 

Potraživanja od Centralne banke BiH - - - 1.9% 

Plasmani kod banaka 1,28% - 2,06% 0,01% - 1,05% 0,12%-4,8% - 

Krediti 8% - 12% 8%-12% - 8% - 13,75% 

OBAVEZE 

Obaveze prema bankama 2% - 6,55% - - - 

Depoziti po viđenju 0%-2% 0%-2% 0% - 2% 0,75%-1% 

Oročeni depoziti 1,8% - 6,2% 

Euribor + 3% 

0,5% - 1% 0% - 3,4% 0,75% - 6,2% 

Subordinirani dug 

Euribor + 2,5% - - - 




33. INTEREST RATE RISK (CONTINUED) 

Average interest rates are calculated as weighted average for each category of interest bearing assets and 

liabilities: 

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% - 4.30% - - - 

Demand deposits 0% - 0.75% 0.25% - 0.75% 0% - 1.75% 0.5% 

Term deposits 1.2% - 6.20% 

Euribor + 2.15% 

0.35% - 1% 0.2% - 3.35% 1% - 6.20% 

Subordinated debt 

Euribor + 3% - - - 

31 December 2003 EUR USD Other KM 

ASSETS 

Due from Central Bank - - - 1.9% 

Placements with other banks 1.28% - 2.06% 0.01% - 1.05% 0.12%-4.8% - 

Loans 8% - 12% 8%-12% - 8% - 13.75% 

LIABILITIES 

Due to other banks 2% - 6.55% - - - 

Demand deposits 0%-2% 0%-2% 0% - 2% 0.75%-1% 

Term deposits 1.8% - 6.2% 

Euribor + 3% 

0.5% - 1% 0% - 3.4% 0.75% - 6.2% 

Subordinated debt 

Euribor + 2.5% - - - 



149




34. VALUTNI RIZIK 

Banka je izložena učincima promjena u deviznim 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 


Ostale 

valute 

Rezervisanja 

Ukupno 

SREDSTVA 

Novac i sredstva kod banaka 119.025 20.889 1.944 7.153 - 149.011 

Potraživanja od Centralne banke BiH 182.955 - - - - 182.955 

Plasmani kod drugih banaka 3.003 380.233 191.612 8.068 (16) 582.900 

Krediti iz sredstava banke 1.074.483 27.906 - - (50.656) 1.051.733 

Kupljeni krediti držani do dospijeća 2.587 - - - (1.451) 1.136 

Potraživanja za obračunatu kamatu 6.077 115 - 3 (192) 6.003 

Ulaganja 5.114 341 - - (576) 4.879 

Ostala imovina 14.681 10.889 311 1.639 (613) 26.907 

Neto dugotrajna materijalna 

i nematerijalna imovina 37.238 - - - (2.767) 34.471 

Ukupna sredstva (1) 1.445.163 440.373 193.867 16.863 (56.271) 2.039.995 

OBAVEZE 

Obaveze prema drugim bankama 2.708 432.824 95 4 - 435.631 

Obaveze prema klijentima 560.317 630.573 190.540 14.910 - 1.396.340 

Rezerviranja - - - - 12.023 12.023 

Ostale obaveze 9.069 8.177 1.705 1.247 - 20.198 

Subordinisani dug - 42.050 - - - 42.050 

Ukupne obaveze (2) 572.094 1.113.624 192.340 16.161 12.023 1.906.242 

Neto bilans stanja na dan 

31. decembra 2004. (1) - (2) 873.069 (673.251) 1.527 702 (68.294) 133.753 

Ukupna sredstva na dan 

31. decembra 2003.(3) 973.518 378.583 66.320 14.217 (44.575) 1.388.063 

Ukupne obaveze na dan 

31. decembra 2003.(4) 440.584 764.382 65.627 16.935 (8.879) 1.296.407 

UKUPNI NETO BILANS STANJA 

NA DAN 31. DECEMBRA 2003.(3)-(4) 532.934 (385.799) 693 (2.718) (53.454) 91.656



34. FOREIGN CURRENCY RISK 

The Bank is exposed to currency risk through transactions in foreign currencies. Foreign currency exposure is presented 

in the table below. Other currencies in the table are comprised and included in ‘Other currencies’. The Bank monitors 

its foreign currency exposure in accordance with legislation and set limits by the Banking Agency of Federation of 

Bosnia and Herzegovina. The Bank directs its business activities at minimizing the gap between assets and liabilities 

denominated in or linked to foreign currency. 

‘000 KM KM EUR USD 

Other 

currencies 

Provisions 

Total 

ASSETS 

Cash and due from banks 119,025 20,889 1,944 7,153 - 149,011 

Due from the Central Bank 182,955 - - - - 182,955 

Placements with other banks 3,003 380,233 191,612 8,068 (16) 582,900 

Loans originated by the bank 1,074,483 27,906 - - (50,656) 1,051,733 

Purchased loans 2,587 - - - (1,451) 1,136 

Accrued interest receivable 6,077 115 - 3 (192) 6,003 

Investments 5,114 341 - - (576) 4,879 

Other assets 14,681 10,889 311 1,639 (613) 26,907 

Fixed and intangible assets 37,238 - - - (2,767) 34,471 

Total assets (1) 1,445,163 440,373 193,867 16,863 (56,271) 2,039,995 

LIABILITIES 

Due to other banks 2,708 432,824 95 4 - 435,631 

Due to customers 560,317 630,573 190,540 14,910 - 1,396,340 

Provisions - - - - 12,023 12,023 

Other liabilities 9,069 8,177 1,705 1,247 - 20,198 

Subordinated debt - 42,050 - - - 42,050 

Total liabilities (2) 572,094 1,113,624 192,340 16,161 12,023 1,906,242 

Balance as at 

31 December 2004, net (1) - (2) 873,069 (673,251) 1,527 702 (68,294) 133,753 

Total assets as of 

31 December 2003 (3) 973,518 378,583 66,320 14,217 (44,575) 1,388,063 

Total liabilities as of 

31 December 2003 (4) 440,584 764,382 65,627 16,935 (8,879) 1,296,407 

TOTAL BALANCE AS AT 

31 DECEMBER 2003, NET (3) – (4) 532,934 (385,799) 693 (2,718) (53,454) 91,656 



151




35. RIZIK LIKVIDNOSTI 

Banka je izložena svakodnevnim isplatama iznosa na poziv koje podmiruje novčanim izvorima koji se sastoje od 

prekonoćnih depozita, sredstava na tekućim računima, depozitima koji dospijevaju, povlačenja sredstava kredita, 

jemstava i ostalih derivata koji se podmiruju iz marži i ostalih iznosa na poziv. Banka ne održava novčane izvore 

da bi pokrila sve navedene potrebe jer je iz iskustva moguće s velikom pouzdanošću predvidjeti minimalne iznose 

ponovnog ulaganja dospijelih sredstava. Uprava utvrđuje limite za najniže iznose sredstava koja dospijevaju, a 

koja su raspoloživa za podmirivanje iznosa plativih na poziv, te najniže iznose međubankarskih i ostalih kredita za 

pokriće neočekivanih iznosa sredstava koja se povlače na zahtjev. 

Ročna struktura iz tabele predstavlja kamatonosnu aktivu i pasivu. Potrebno je naglasiti da su iz gornje tabele 

isključene potencijalne obaveze iz vanbilansne evidencije. Većina kamatonosne aktive i pasive struktuirana je na 

način da je usklađena kratkoročnoj aktivi i kratkoročnoj pasivi sa mogućnošću promjene kamatnih stopa u okviru 

jedne godine ili dugoročna aktiva i pasiva uz istovremenu promjenu kamatnih stopa. 




35. LIQUIDITY RISK 

The Bank is exposed to daily calls on its available cash resources from overnight deposits, current accounts, 

maturing deposits, loan draw-downs, guarantees and from margin and other calls on cash-settled derivatives. 

Based on previous experience, management believes that minimum level of maturing funds can be predicted and 

maintained in order to meet all current liabilities of the Bank. The Board sets limits on the minimum proportion of 

maturing funds available to meet such calls and on the minimum level of inter-bank and other borrowing facilities 

that should be in place to cover withdrawals at unexpected levels of demand. 

Maturity structure in the table below represents interest bearing assets and liabilities. It should be noted that the 

contingent liabilities and commitments have been excluded from the analysis. The Bank’s interest bearing assets 

and liabilities are structured to match either short-term assets and short-term liabilities, long-term assets and 

liabilities with reprising opportunities within one year, or long-term assets and corresponding liabilities where 

reprising is performed simultaneously. 



153




35. RIZIK LIKVIDNOSTI (NASTAVAK) 

‘000 KM Na poziv 


Do 6 

mjeseci 

Od 

6 do 12 

mjeseci 

Preko 

1 godine 

Nedefinira 

dospijeće 

Rezervisanja 

Ukupno 

SREDSTVA 

Novac i sredstva 

kod banaka 10.262 138.749 - 149.011 

Potraživanja od 

Centralne Banke - - - - 182.955 - 182.955 

Plasmani kod 

drugih banaka - 580.202 - 2.714 - (16) 582.900 

Krediti iz sredstava 

banke 21.341 273.099 240.338 567.611 - (50.656) 1.051.733 

Kupljeni krediti 

držani do dospijeća - - - 2.587 - (1.451) 1.136 

Potraživanja za 

obračunatu kamatu 6.195 - - - - (192) 6.003 

Ulaganja - - - - 5.455 (576) 4.879 

Ostala imovina - - - - 27.520 (613) 26.907 

Neto dugotrajna 

materijalna i 

nematerijalna imovina - - - - 37.238 (2.767) 34.471 

Ukupna sredstva (1) 37.798 853.301 240.338 572.912 391.917 (56.271) 2.039.995 

OBAVEZE 

Obaveze prema 

drugim bankama 1.193 43.935 115.760 274.524 219 - 435.631 

Obaveze prema 

klijentima 714.231 338.407 159.278 142.731 41.693 - 1.396.340 

Rezerviranja - - - - - 12.023 12.023 

Ostale obaveze - 3.996 - - 16.202 - 20.198 

Subordinisani dug - - - 42.050 - - 42.050 

Ukupne obaveze (2) 715.424 386.338 275.038 459.305 58.114 12.023 1.906.242 

Bilansna neusklađenost 

likvidnosti na dan 3 

1. decembra 2004. (1) - (2) (677.626) 466.963 (34.700) 113.607 333.803 (68.294) 133.753 

Ukupna sredstva na dan 

31. decembra 2003. 75.439 636.260 176.835 426.413 117.691 (44.575) 1.388.063 

Ukupne obaveze na dan 

31. decembra 2003. (585.635) (190.023) (186.657) (311.140) (14.073) (8.879) (1.296.407) 

UKUPNA NEUSKLAÐENOST 

LIKVIDNOSTI NA DAN 

31. DECEMBRA 2003. (510.196) 446.237 (9.822) 115.273 103.618 (53.454) 91.656



35. LIQUIDITY RISK (CONTINUED) 

‘000 KM 

On 

demand 

0-6 

months 

6-12 

months 

Over 

1 year 

Non 

interest 

bearing 


Provisions 

Total 

ASSETS 

Cash and due from banks 10,262 138,749 - 149,011 

Due from the Central Bank - - - - 182,955 - 182,955 

Placements with other banks - 580,202 - 2,714 - (16) 582,900 

Loans originated by the bank 21,341 273,099 240,338 567,611 - (50,656) 1,051,733 

Purchased loans - - - 2,587 - (1,451) 1,136 

Accrued interest receivable 6,195 - - - - (192) 6,003 

Investments - - - - 5,455 (576) 4,879 

Other assets - - - - 27,520 (613) 26,907 

Fixed and intangible assets - - - - 37,238 (2,767) 34,471 

Total assets (1) 37,798 853,301 240,338 572,912 391,917 (56,271) 2,039,995 

LIABILITIES 

Due to other banks 1,193 43,935 115,760 274,524 219 - 435,631 

Due to customers 714,231 338,407 159,278 142,731 41,693 - 1,396,340 

Provisions - - - - - 12,023 12,023 

Other liabilities - 3,996 - - 16,202 - 20,198 

Subordinated debt - - - 42,050 - - 42,050 

Total liabilities (2) 715,424 386,338 275,038 459,305 58,114 12,023 1,906,242 

TOTAL LIQUIDITY 

MISMATCH AS OF 

31 December 2004 (677,626) 466,963 (34,700) 113,607 333,803 (68,294) 133,753 

Total assets as of 

31 December 2003 75,439 636,260 176,835 426,413 117,691 (44,575) 1,388,063 

Total liabilities as of 

31 December 2003 (585,635) (190,023) (186,657) (311,140) (14,073) (8,879) (1,296,407) 

TOTAL LIQUIDITY 

MISMATCH AS OF 

31 DECEMBER 2003 (510,196) 446,237 (9,822) 115,273 103,618 (53,454) 91,656 


155




35. RIZIK LIKVIDNOSTI (NASTAVAK) 

Banka je uspostavila procedure za upravljanje rizikom likvidnosti, tako da održava planiranu likvidnost (scenario 

osnovne likvidnosti). Također, za vanredne okolnosti postoji i scenario likvidnosti u kriznim situacijama. Banka 

je usvojila set pokazatelja likvidnosti sa njihovim limitima. Banka je izložena svakodnevnim isplatama iznosa na 

poziv koje podmiruje novčanim izvorima koji se sastoje od prekonoćnih depozita, sredstava na tekućim računima, 

depozitima koji dospijevaju, povlačenja sredstava kredita, jemstava i ostalih derivata koji se podmiruju iz marži i 

ostalih iznosa na poziv. 

Banka ne održava novčane izvore da bi pokrila sve navedene potrebe jer je iz iskustva moguće s velikom 

pouzdanošću predvidjeti minimalne iznose ponovnog ulaganja dospijelih sredstava. Uprava utvrđuje limite za 

najniže iznose sredstava koja dospijevaju, a koja su raspoloživa za podmirivanje iznosa plativih na poziv, te najniže 

iznose međubankarskih i ostalih kredita za pokriće neočekivanih iznosa sredstava koja se povlače na zahtjev. 

Zahtijevana likvidna sredstva u slučajevima garancija i akreditiva su na nižem nivou, obzirom da Banka ne 

očekuje da će treća strana povući sredstva. Ukupno ugovoreni iznosi potencijalnih obaveza ne prikazuju buduća 

zahtijevana novčana sredstva, obzirom da će se navedene potencijalne obaveze većinom ugasiti. 




35. LIQUIDITY RISK (CONTINUED) 

The Bank has established its liquidity risk management rules such that it maintains its liquidity profile in normal 

conditions (basic liquidity scenario) and in crisis conditions (crisis liquidity scenario). As such, the Bank has defined 

a set of indicators for which binding limits are established. 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. 

Liquidity requirements to support calls under guarantees and standby letters of credit are considerably less than 

the amount of the commitment because the Bank does not generally expect the third party to draw funds under 

the agreement. The total outstanding contractual amount of commitments to extend credit does not necessarily 

represent future cash requirements, since many of these commitments will expire or terminate without being funded. 



157

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 

Štampa: 

Printed by: CPU Sarajevo

Napomene uz nekonsolidovane finansijske ... - Raiffeisen Bank

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