Annual Report 2008
Annual Report 2008 On the Cover Veliko Tarnovo, The Tsarevets Fortress at Night На корицата Велико Търново, Крепостта Царевец през нощта www.rbb.bg 1 Financial Highlights Financial Highlights Monetary values in BGN Thousand 2008 Change 2007 2006 Income Statement Net interest income after provisioning for possible 234,815 42% 164,879 112,402 loan losses Net commission income 58,505 43% 40,786 25,119 Trading profit (loss) 29,055 – 18% 35,492 22,349 Administrative expenses – 181,834 49% – 122,011 – 81,949 Profit before tax 146,316 21% 120,542 78,533 Profit after tax 132,597 22% 108,612 66,970 Balance Sheet Loans and advances to banks 1,186,909 62% 730,997 856,467 Loans and advances to customers 4,044,215 27% 3,178,878 1,554,980 Deposits from banks 234,970 – 58% 561,360 479,506 Deposits from customers 4,457,459 22% 3,650,538 2,379,419 Equity 856,455 56% 547,679 248,025 Balance-sheet total 6,882,171 15% 5,996,382 3,907,957 Regulatory own funds Total own funds 863,819 46% 591,800 335,812 Own funds requirement / 600,841 19% 503,525 301,542 According to Local Regulations Excess cover 262,978 198% 88,275 34,270 Core capital ratio 13.99% 41% 9.93% 6.78% Own funds ratio 17.25% 22% 14.10% 13.36% Performance Return of equity (ROE) before tax 23.6% – 38% 38.2% 43.4% Cost/income ratio 50.9% 2% 49.7% 48.4% Return on assets (ROA) before tax 2.3% – 15% 2.7% 2.6% Provisions for possible loan losses/risk-weighted 80,486 44% 55,706 54,404 assets/ According to Local Regulations Resources Number of staff on balance-sheet date 3,703 23% 3,004 1,921 Banking outlets on balance-sheet date 195 30% 151 110 Official Exchange Rate (BNB) BGN BGN BGN 1 EUR 1.95583 1.95583 1.95583 Source: Audited Unconsolidated Financial Statements of Raiffeisenbank (Bulgaria) EAD as of 31 December 2008 2 www.rbb.bg General Information General Information Establishment of the Bank Raiffeisenbank (Bulgaria) EAD is the fi rst greenfi eld foreign investment in the Bulgarian banking sector made in 1994.
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