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Hypo Vorarlberg Bank Ag Annual Report 2019 Key Figures 2019

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Hypo Vorarlberg Bank Ag Annual Report 2019 Key Figures 2019 HYPO VORARLBERG BANK AG ANNUAL REPORT 2019 KEY FIGURES 2019 Key figures of Hypo Vorarlberg Bank AG (Hypo Vorarlberg) – Group reporting per IFRS: Balance sheet figures Notes 31/12/2019 31/12/2018 Change Change TEUR in TEUR in % Total assets 13,979,941 13,754,610 225,331 1.6 Loans and advances to banks 116,743 132,408 -15,665 -11.8 Loans and advances to customers 10,042,455 9,652,675 389,780 4.0 Liabilities to banks 1,536,100 1,305,809 230,291 17.6 Liabilities to customers 5,434,969 5,682,356 -247,387 -4.4 Securitised liabilities 5,425,331 5,257,582 167,749 3.2 Own funds (65) 1,509,673 1,379,763 129,910 9.4 thereof tier 1 capital (65) 1,240,031 1,179,866 60,165 5.1 Total capital ratio (65) 17.85 % 17.79 % 0.06 % 0.3 Income statement Notes 2019 2018 Change Change TEUR in TEUR in % Net interest income (6) 169,541 167,428 2,113 1.3 Net fee and commission income (8) 36,466 31,914 4,552 14.3 Administrative expenses (13) -96,291 -97,734 1,443 -1.5 Earnings before taxes 91,692 48,657 43,035 88.4 Consolidated net income 70,376 29,176 41,200 >100.0 Corporate figures Notes 2019 2018 Change Change absolute in % Cost/income ratio (CIR) 53.24 % 61.22 % -7.98 % -13.0 Return on equity (RoE) 8.13 % 4.43 % 3.70 % 83.5 Employees (53) 719 727 -8 -1.1 Own funds 31/12/2019 31/12/2018 Change Change TEUR absolute in % Common equity tier 1 capital (CET1) 1,190,026 1,129,859 60,167 5.3 Additional tier 1 capital (AT1) 50,005 50,007 -2 0.0 Tier 1 capital 1,240,031 1,179,866 60,165 5.1 Tier 2 capital (T2) 269,642 199,897 69,745 34.9 Own funds 1,509,673 1,379,763 129,910 9.4 CET1 capital ratio (CET1) 14.07 % 14.57 % -0.50 % -3.4 Surplus of CET1 capital 809,498 780,852 28,646 3.7 T1 capital ratio (T1) 14.66 % 15.21 % -0.55 % -3.6 Surplus of T1 capital 732,661 714,523 18,138 2.5 Total capital ratio 17.85 % 17.79 % 0.06 % 0.3 Surplus of total capital 833,179 759,307 73,872 9.7 The shareholders of Hypo Vorarlberg Bank AG (Hypo Vorarlberg) as at 31 December 2019: Shareholders Total shareholding Voting Rights Vorarlberger Landesbank-Holding 76.8732 % 76.8732 % Austria Beteiligungsgesellschaft mbH 23.1268 % 23.1268 % - Landesbank Baden-Württemberg 15.4179 % - Landeskreditbank Baden-Württemberg Förderbank 7.7089 % Share capital 100.0000 % 100.0000 % Rating Standard & Poor’s Moody’s Long-term senior debt A+ A3 Short-term A-1 P-2 Outlook stable stable TABLE OF CONTENTS HYPO VORARLBERG 4 CONSOLIDATED FINANCIAL STATEMENTS (IFRS) 33 Foreword of the Managing Board 6 I. Statement of comprehensive income 36 Organisational chart 7 II. Balance sheet dated 31 December 2019 37 Executive Boards 9 III. Statement of changes in shareholders’ equity 38 Advisory Board 11 IV. Cash flow statement 39 GROUP MANAGEMENT REPORT 13 V. Notes 40 Macroeconomic conditions 14 VI. Managing Board and Supervisory Board 104 The Austrian banking sector in 2019 16 VII. Subsidiaries and holdings 105 Hypo Vorarlberg’s business model 17 Managing Board declaration 108 Stable business development in 2019 19 Report of the Supervisory Board 109 Development by segment 23 Auditor’s report 110 Subsidiaries and holdings 25 BRANCHES AND CONTACT 113 Outlook for the 2020 fiscal year 27 Branch offices and subsidiaries 114 Risk management at Hypo Vorarlberg 29 Banking locations 115 Disclosure of information on remuneration policy and practices in 2019 31 Imprint 117 Mindful business 32 HYPO VORARLBERG WILFRIED AMANN MICHEL HALLER JOHANNES HEFEL MEMBER OF THE MANAGING BOARD CHAIRMAN OF THE MANAGING MEMBER OF THE MANAGING BOARD BOARD HYPO VORARLBERG 5 FOREWORD OF THE MANAGING BOARD Our customers value Hypo Vorarlberg as a reliable and stable partner, particularly in economically challenging times. The good consolidated net income achieved in the 2019 financial year shows that this trust is justified. Dear customers, business partners, shareholder representatives and em- Mindfulness in core business ployees, In 2019, many companies had to ask themselves the question: Where do you stand on sustainability? Hypo Vorarlberg answered this question Hypo Vorarlberg can look back on a challenging financial year, with the years ago already: As a mindful advisory bank, sustainability is practically ECB’s low or negative interest rate policy and increasing regulation in our DNA. Our Asset Management therefore took steps in the direction keeping banks busy still in 2019. At the same time, digitalisation gained of sustainable investment at an early stage. Ethical and sustainable crite- further momentum and put the business model of entire sectors to the ria help us identify undesirable transactions before they are concluded test. A similar effect was generated by the growing trend towards sus- in financing and investment business. In the future we will redouble our tainability, intensified by student protests with the motto “Fridays for efforts, as demand for sustainable financial products is increasing. Future”. And finally, geopolitical tensions led to volatile financial, goods and services markets throughout the year. Stability in challenging times In turbulent times, it is particularly important to have a reliable and sta- In this context, we are all the more pleased that we managed to bring in ble partner by your side. For Hypo Vorarlberg, stability means that we another good operating result in 2019. IFRS earnings before taxes in focus on our core business and pursue continuous, sustainable growth. 2019 were up significantly year-on-year at EUR 91.7 million (2018: This is what makes us successful. Stability also means that we are a long- EUR 48.7 million). However, earnings in 2018 were negatively impacted term partner and not just a temporary one. Interesting stories about the by high amortization and impairment as a result of the transition to topic of stability can be found in our VORHABEN #3/2019 magazine. IFRS 9, making it more difficult to compare the two years. The positive development in interest-related business and the significant growth in Stability has rarely ever been as important as it is at the start of 2020. commission business in 2019 substantiate our focus on customer busi- The outbreak of the new coronavirus hit society and the economy with ness and our risk-conscious business policy. an intensity that few could have imagined. The effects of the crisis will probably stay with us for years. We as a bank are particularly called upon Digital and personal now: Together with the other regional banks in Vorarlberg, we will do As an ambitious universal bank, we see digitalisation not only as a chal- everything we can to support affected families and companies. After all, lenge but also as an opportunity. That is why in 2019 we launched our stability also means standing by our own convictions when things get online asset management tool “MEIN ANLAGEKONZEPT”, for example. difficult. An internal digitalisation department is responsible for exploring the po- tential of new technologies and harnessing this potential for us. But at We would like to thank our nearly 900 employees for their ambition and the same time, we do not forget what sets us apart as Hypo Vorarlberg: commitment in the past year. They represent the foundation for Hypo personal advice for our many private and corporate customers at the Vorarlberg’s success. And they give us the confidence that we will also highest level and in a trustful atmosphere, especially when it comes to manage the difficult financial year ahead. Our company’s motto has complex issues such as investing assets or real estate financing. As ever, never carried more weight: Achieving great things together – for the “those with big plans come to us”. bank, for companies and for society as a whole. The members of the Managing Board Michel Haller Johannes Hefel Wilfried Amann Chairman of the Managing Board Member of the Managing Board Member of the Managing Board HYPO VORARLBERG 6 ORGANISATIONAL CHART MANAGING BOARD DIV RISK MANAGEMENT DIV CORPORATE CUSTOMERS DIV PRIVATE CUSTOMERS MICHEL HALLER, CEO WILFRIED AMANN JOHANNES HEFEL Credit Management – Corporate Customers Corporate Customers Sales Private Customers Sales / Private Banking Stefan Germann Karl-Heinz Rossmann Markus Felder ▪ Credit Management – Corporate ▪ Branch Offices Corporate Customers ▪ Branch Offices Private Customers Customers / Banks & Leasing ▪ International Services ▪ Private Banking ▪ Credit Management St. Gallen ▪ Syndication / Structured Financing ▪ Product Management ▪ Financial Aids Department ▪ Customer Service Center Corporate Customers Vienna ▪ Balance Sheet Analysis Roswitha Klein Private Customers Vienna / Credit Management -- Private Customers Mobile Sales Unit Treasury Martin Heinzle Roswitha Klein Florian Gorbach ▪ Credit Management – Private Customers ▪ Funding & Investor Relations Wealth Management ▪ Certification / Credit Service ▪ APM & Investments Roswitha Klein ▪ Housing Construction Aids ▪ Money, Foreign Exchange and ▪ Vienna Group Risk Controlling Interest Derivatives Trading Markus Felder Markus Seeger ▪ Securities Customer Trading ▪ Bregenz Law Strategic Bank Management Asset Management Klaus Diem David Blum Karl-Heinz Strube ▪ Central Loan Monitoring Corporate / ▪ Asset Management Accounting Private Customers ▪ Fonds Management Nora Frischherz ▪ Contract Law ▪ Financial Analysis / Research ▪ Controlling ▪ Active Advisory Human Resources ▪ Bookkeeping, Supervisory Reporting Egon Helbok ▪ Account Management Corporate and Internal Audit ▪ Data and Document Management Christoph Schwaninger Communication Sabine Nigsch Participation Administration Logistics Emmerich Schneider Wilhelm Oberhauser Data Protection ▪ Facility and Materials Administration Daniel Oberauer St. Gallen Branch Office ▪ Sustainability Dieter Wildauer, RM Compliance Marketing Reinhard Kaindl Hypo Vorarlberg Leasing, Italy Angelika Rimmele Christian Fischnaller (Sales) Mid- and Backoffice Fonds, ▪ Marketing Management Securities and Derivatives Hypo Immobilien & Leasing GmbH ▪ Youth Marketing Johannes Tschanhenz Wolfgang Bösch ▪ Sponsoring and Events IT / Organisation Peter Scholz ▪ Creation Johann Berchtold Hypo Versicherungsmakler GmbH Jörg Ruwe Harald Dür ▪ Information Technology Christoph Brunner ▪ Organisation ▪ Payment Transactions Digitisation Stefan Medenbach St.
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