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Home Credit BV Home Credit B.V. Annual report for the year ended 31 December 2008 (consolidated) TABLE OF CONTENTS TABLE OF CONTENTS ..................................................................................2 1. INFORMATION ABOUT THE ISSUER......................................................4 1.1. Basic data on the Issuer ................................................................... 4 1.2. Floating rate bonds.......................................................................... 5 1.3. Principal activities of the Issuer ......................................................... 5 1.4. Position of the Issuer and its subsidiaries against the competition........... 7 1.5. Solvency of the Issuer...................................................................... 9 1.6. History and development of the Issuer ............................................... 9 1.7. The most important events in the year 2008 ......................................11 1.8. Business policy and strategy in 2009.................................................12 2. ORGANIZATIONAL STRUCTURE..........................................................12 2.1. Home Credit Group.........................................................................12 2.2. Organization chart – the key companies ............................................13 2.3. Home Credit a.s., Czech Republic......................................................13 2.4. Home Credit Slovakia, a.s., Slovak Republic .......................................14 2.5. LLC Home Credit & Finance Bank, Russian Federation ..........................14 2.6. JSC Home Credit Kazakhstan, Kazakhstan..........................................14 2.7. CJSC Home Credit Bank and LLC Home Credit Finance, Ukraine ............14 2.8. OJSC Home Credit Bank, Belarus ......................................................15 2.9. Home Credit International a.s., Czech Republic ...................................15 2.10. Ownership interests of the Issuer...................................................16 3. MANAGING AND SUPERVISORY BODIES ............................................16 3.1. Alexander Labak.............................................................................17 3.2. Declan McSweeney .........................................................................17 3.3. Ladislav Chvátal .............................................................................17 3.4. Sonia Mihaylova Slavtcheva .............................................................18 3.5. Ivan Svitek....................................................................................18 3.6. Conflicts of interest.........................................................................18 4. THE MOST SIGNIFICANT CONTRACTS ................................................18 5. FINANCIAL INFORMATION.................................................................21 5.1. Consolidated financial information of the Issuer ..................................21 5.2. Separate financial information of the Issuer .......................................21 5.3. Financial investments......................................................................22 2 6. OTHER INFORMATION........................................................................23 6.1. Audit fees......................................................................................23 6.2. Monetary and non-monetary income of statutory bodies ......................23 6.3. Remuneration principles ..................................................................23 6.4. Legal, administrative and arbitration procedure ..................................24 6.5. Information on shares and owners’ rights...........................................24 6.6. Information on other significant contracts ..........................................24 DIRECTORS’ REPORT ................................................................................25 INFORMATION ABOUT THE PERSONS RESPONSIBLE FOR THE ANNUAL REPORT 26 Declaration.............................................................................................26 APPENDIX Consolidated Financial Statements for the year ended 31 December 2008 3 1. INFORMATION ABOUT THE ISSUER 1.1. Basic data on the Issuer Issuer: Home Credit B.V. Legal form: Besloten Vennootschap (Private Limited Liability Company) Registered office: The Netherlands, Strawinskylaan 933, Tower B, Level 9, 1077XX Amsterdam Place of registration: The Netherlands, Chamber of Commerce and Industries in Amsterdam (Kamer van Koophandel Amsterdam) Registration No.: 34126597 VAT number: NL 8086.95.976.B01 Date of incorporation: 28 December 1999 Length of life: Incorporated for an indefinite period of time Governing law: Laws of the Netherlands Country of incorporation: The Netherlands Issued capital: EUR 1,156,174,806 Paid up capital: EUR 1,156,174,806 Authorized capital: EUR 1,250,000,000 Contact address: Home Credit B.V. c/o Jacobus Wilhelmus Meyberg / Brenda Gierman- Beijlsmit Strawinskylaan 933, Tower B, Level 9 1077 XX Amsterdam, The Netherlands Tel: +31 (0)20 88 13 120 Fax: +31 (0)20 88 13 121 Email: [email protected] / [email protected] Contact address in the Lukáš Rakušan Czech Republic: Finance Controller Home Credit International a.s. Evropská 2690/17 P.O.Box 177 160 41 Prague 6 Tel.: +420 224 174 459 E-mail: [email protected] Contact for investors: Dana Knežević Tel.: +420 224 174 214 Issuer’s web page: www.homecredit.net 4 1.2. Floating rate bonds ISIN: CZ0000000203 Issue date: 21 June 2006 Aggregate principal CZK 3,000,000,000 amount: Denomination of each CZK 10,000,000 Note: Redemption of 21 June 2009 principal amount: Interest rate: 6M PRIBOR + the margin 6 % Interest paid: semiannually in arrears as of 21 June and 21 December of each year Other information: book-entry securities in bearer form, in accordance with Czech law 1.3. Principal activities of the Issuer Article 3 Chapter II of the Issuer’s Articles of Association state that the subject of the Issuer’s activity is: − acquisition of shares or other interest in legal entities, companies and enterprises, cooperation with them and their management; − acquisition and management of property – including rights following from intellectual property, and investing capital; − lending capital in particular, not exclusively though, to subsidiaries, subjects from the group and/or those with ownership interest in the company – all that observing Article 9 Section 5 of the Issuer’s Statutes, and also acquisition of means in the form of a loan/credit or provision of the means acquisition; − conclusion of contracts, in which the Issuer as a provider of security or a joint and several debtor guaranteeing or binding itself with or for a third party, enters into an engagement in particular but not exclusively in relation to legal entities and companies specified in subsection c) above; 5 Home Credit B.V. is a member (holding company) of Home Credit Group, operating in the Central and Eastern European and Central Asia consumer loan markets. In 2008, Home Credit Group granted loans in the combined principal of EUR 3.6 billion. Home Credit maintains leading position in the consumer finance markets of the Czech Republic (entered in 1997), the Slovak Republic (1999), the Russian Federation (2002), and the Republic of Kazakhstan (2005). In 2006 Home Credit Group entered the Ukrainian and in 2007 Belorussian market. The main products offered by these companies are: a) Purpose Consumer Loans The purpose consumer loans are intended to finance purchases of consumer goods (for example electronics, computers and office electronics, furniture, building material, sports equipment and other assorted items) by consumers. Such loans may also be provided for the purpose of purchasing holidays or to afford above- standard medical care. The loan may be provided only to a person who meets the set requirements, among which there are generally the following: − regular income in certain ratio to the principal amount of the provided loan, − regular employment, − positive payment of formerly provided loans, − possibly other guarantees or provision of a security, − citizenship of the given state and postal address in the given state, − minimum age limit, − not over the set maximum age limit. In order to prove the above-mentioned issues, the applicant must present relevant evidence (for example a passport, identity card or similar evidence of identity and a confirmation of income from his/her employer, which must include the determined information). 6 b) Revolving Loans A revolving loan is a long-term, repeatable and renewable credit line. A client of a revolving loan has available financial means in the amount of a stipulated credit limit. By each purchase, the available balance, which the customer may use from their credit limit, is reduced. By each installment, on the other hand, the financial means for purchase of further goods on loan increases. c) Non-purpose Cash Loans These loans are not conditioned by the purchase of goods or services. The basic difference from the product Purpose Consumer Loans is that cash loans offer more flexibility to the customer because the principal amount is provided in cash and can be used for any purpose. The long-standing operation of the Home Credit Group on the consumer finance market has provided this group with wide-ranging experience, that it has used when developing its sophisticated system of loan application approval and its system of loan collection from clients who fail to provide loan installments
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