ATE BANK ROMANIA S.A. Section
no.1
on
the Agenda of the
General
Assembly
on
the date of 23.04.2010
The
financial statements for the end of 2009 (the accounting balance sheet, the
profit and loss account, the statement for changes to the own equity, statement
of treasury flows, the other notes) used for the preparation of this report
were drawn up according to the national standards and have been audited by the
external auditor approved during the meeting of the General Ordinary Assembly
of the Shareholders of 27.04.2009, ERNST & YOUNG respectively.
For
a correct and complete assessment of the information detailed in this
report, having regard to the fact that the bank is member of ATE Bank Greece,
we consider useful to mention the foreign exchange rates established by the
Central Bank, as follows:
|
Currency |
31.12.2008 |
31.12.2009 |
% |
EUR
|
3,9852
RON |
4,2282
RON |
106,09 |
|
USD |
2,8342
RON |
2,9361
RON |
103,59 |
This shows that the process of the
domestic currency depreciation in relation to EUR and USD has continued in
2009.
During
2009, Romania was affected by the world economic and financial crisis.
Thus, the inflation rate reached 4,7%, the national budget deficit was 7,3% and
the unemployment rate was 7,8%. The effects of the crisis were also felt at the
level of the financial-banking system, having regard to the fact that the loans
granted in the non-governmental system decreased by 9% for the loans denominated
in RON and by 1% for the loans denominated in EUR. In addition, the total
overdue loans of the Romanian banks had the value of 2 billion EUR in 2009,
which is an increase of 2.8 times in comparison to 31.12.2008.
The
Members of the Board of Director during 2009 were the following:
Mr. Dimitrios Miliakos – Chairman
until 07.12.2009;
Mr. Panayotis Varangis – Member
until 27.04.2009;
Mr. Epameinondas Papanikolaou -
Member
Mr. Konstantinos Christou - Member
Mr. Anastasios Papanikolaou – Member
since 27.04.2009
Mr. Sergiu Manea - Member
Mrs. Alina Pascu – Member
Mr. Teodor Dragan – Member
The
Executive Management of the Bank during 2009 was ensured by the following
persons:
Mr. Sergiu Manea - General Manager
Mr. Epameinondas Papanikolaou –
Deputy General Manager
Mrs. Alina Pascu - Deputy General
Manager
The
main financial statement of the Bank on 31.12.2009 (Annex 1)
The total of the main financial statement of the bank (accounting
balance sheet) on 31.12.2009 was 1.453.441.753 RON in comparison to 993.508.047
RON on 31.12.2008. During 2009, the total value of the main financial statement
of the bank (accounting balance sheet) increased by 459.933.706 RON, and this
represents an increase by 46,29%.
The
registered equity of the bank, subscribed and paid-up, at the end of 2009,
was 136.470.588 RON, the same as at the end of 2008.
The
structure of the shareholding of the bank on 31.12.2009, in comparison to
31.12.2008, is represented as follows:
RON
Shareholders
|
31.12.2008 |
% |
31.12.2009 |
% |
|
ATE
BANK Greece |
101.165.346,80 |
74,13 |
101.165.346,80 |
74,13 |
|
I.F.C. |
20.470.588,20 |
15,00 |
20.470.588,20 |
15,00 |
|
UCECOM |
10.050.710,60 |
7,36 |
10.050.710,60 |
7,36 |
|
Legal
persons |
1.845.424,00 |
1,35 |
1.845.424,00 |
1,35 |
|
Natural
persons |
2.938.518,60 |
2,16 |
2.938.518,60 |
2,16 |
|
Total |
136.470.588,20 |
100,00 |
136.470.588,20 |
100,00 |
This shows there were no
modifications of the bank's shareholding structure during 2009. The Bank's
equity is divided into 682.352.941 shares with a nominal value of 0,2 RON.
The structure of the other funds of the bank is as follows:
RON
Other funds
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Share
premium |
36.324.522 |
27,10 |
36.324.522 |
26,44 |
100,00 |
|
Legal
reserves |
8.753.142 |
6,53 |
8.955.711 |
6,53 |
102,60 |
|
Reserves
for risks |
2.660.682 |
1,98 |
2.660.682 |
1,93 |
100,00 |
|
Re-evaluation
reserves |
78.101.172 |
58,20 |
78.101.172 |
56,85 |
100,00 |
|
Other
reserves, of which: |
8.159.704 |
6,11 |
11.330.618 |
8,25 |
138,86 |
|
- Tax facilities |
3.648.882 |
2,49 |
6.409.515 |
4,66 |
175,65 |
|
-
Exchange rate differences related to foreign currency equity |
1.136.799 |
0,84 |
1.136.799 |
0,82 |
100,00 |
|
-
Retained earnings |
3.374.023 |
2,78 |
3.784.304 |
2,77 |
100,00 |
|
Total |
133.999.222 |
100,00 |
137.372.705 |
100,00 |
102,51 |
From the point of view of the capital adequacy to risks, the
situation is as follows:
|
Currency |
31.12.2008 |
31.12.2009 |
% |
Total funds
|
228.430.463 |
226.421.024 |
99,12 |
|
Tier I own funds |
185.984.545 |
190.176.809 |
102,25 |
|
Tier II own funds |
42.445.918 |
36.244.215 |
85,38 |
|
Capital requirements |
60.729.119 |
89.170.259 |
146,83 |
|
-
credit risk |
55.952.388 |
83.788.031 |
149,47 |
|
-
market risk |
- |
248.426 |
- |
|
-
operational risk |
4.776.731 |
5.133.802 |
107,47 |
|
Solvency |
30,51% |
20,31% |
66,35% |
Out of the data presented, it can be
seen that the increase of the capital requirements for covering the credit risk
and the operational risk led to the decrease of the solvency indicator.
The cash attracted from the wholesale market on 31.12.2009, in
comparison to 31.12.2008 is structured as follows:
RON
Indicator
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Deposits
on sight |
3.941.351 |
0,77 |
65.031.953 |
10,39 |
1.649,99 |
|
- lei/lei |
2.248.179 |
0,44 |
16.083.132 |
2,57 |
715,38 |
|
- lei/foreign currency |
1.693.172 |
0,33 |
48.948.821 |
7,82 |
2.890.95 |
|
Term
deposits |
503.708.221 |
99,23 |
560.934.460 |
89,61 |
111,36 |
|
- lei/lei |
53.500.000 |
10,53 |
10.000.000 |
1,60 |
18,69 |
|
- lei/foreign currency |
450.208.221 |
88,70 |
550.934.460 |
88,02 |
122,37 |
|
Total,
of which: |
507.649.572 |
100,00 |
625.966.413 |
100,00 |
123,30 |
|
- lei/lei |
55.748.179 |
10,98 |
26.083.132 |
4,17 |
46,78 |
|
- lei/foreign currency |
451.901.393 |
89,02 |
599.883.281 |
95,83 |
132,74 |
On 31.12.2009, the value of the cash
attracted from the wholesale market was larger by 118.316.841 RON in comparison
to 31.12.2008, which represents an increase by 23.30%.
The total value of the term deposits
denominated in foreign currency at the end of 2009 includes the amount of
307.874.256 RON, representing the amount of 77 million EUR received from ATE
Bank Greece. For that amount, during 2009, the Bank paid an interest of 14.833.761
RON to ATE Bank Greece, which is the equivalent of 3.515.722 EUR, as well as
taxes of 1.648.196 RON to the state budget of Romania, which is the equivalent
of 390.634 EUR.
The
cash attracted from customers listed in the Bank's balance sheet is as
follows:
RON
Indicator
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Deposits,
of which: |
175.824.428 |
89,31 |
483.641.708 |
91,35 |
275,07 |
|
- on sight |
67.141.899 |
34,11 |
74.021.503 |
13,98 |
110,24 |
|
· lei/lei |
39.590.641 |
20,11 |
37.858.392 |
7,15 |
95,62 |
|
· lei/foreign currency |
27.551.258 |
14,00 |
36.163.111 |
6,83 |
131,25 |
|
- term deposits |
108.682.529 |
55,20 |
409.620.205 |
77,37 |
376,89 |
|
· lei/lei |
56.070.658 |
28,48 |
167.060.290 |
31,55 |
297,94 |
|
· lei/foreign currency |
52.611.871 |
26,72 |
242.559.915 |
45,82 |
461,03 |
|
Deposit
certificates |
21.036.129 |
10,69 |
4.308.162 |
0,81 |
20,47 |
|
· lei/lei |
9.748.050 |
4,95 |
2.366.150 |
0,44 |
24,27 |
|
· lei/foreign currency |
11.288,079 |
5,74 |
1.942.012 |
0,37 |
17,20 |
|
Lease back denominated in foreign currency |
- |
- |
41.448.040 |
7,84 |
- |
|
Total,
of which: |
196.860.557 |
100,00 |
529.397.910 |
100,00 |
268,92 |
|
· lei/lei |
105.409.349 |
53,55 |
207.284.832 |
39,15 |
196,64 |
|
· lei/foreign currency |
91.451.208 |
46,45 |
322.113.078 |
60,85 |
352,22 |
During 2009, the Bank concluded a
lease back agreement for the building of the headquarters in Bucharest, Calea
Griviţei no. 24, with Alfa Leasing. Based on that agreement, the Bank
collected the amount of 10 million EUR, owing to repay the real estate property
over a period of 10 years.
It can be noticed from the above
data that, on 31.12.2009, the cash attracted from the customers was 332.537.353
RON larger than the amount on 31.12.2008.
The increase of 168.92% of the cash attracted from customers during 2009
represents the special focus of the Bank on financing its activity from local
resources.
For the Bank's corporate customers,
the saving offer contains, for RON and EUR, deposits on sight, term deposits
for 1, 3, 6, 9 and 12 months, deposit certificates for 6, 9, 12, 18 and 24
months.
For the Bank's retail customers, the
saving offer contains, for RON and EUR, deposits on sight, current accounts
with saving facilities (Demetra); term deposits for 1, 3, 6, 9 and 12 months;
term deposits for 4, 8, 12 and 16 months, with bonuses granted for family
events (Sparta); term deposits for 3, 6 and 12 months, with anticipated payment
of interest (Acropole) and deposit certificates for 6, 9, 12, 18 and 24 months.
The retail and corporate customers
can also create USD deposits on sight and term deposits for 1, 3, 6, 9 and 12
months, as well as GBP deposits on sight and term deposits for 1 month.
Depending on the deposited amount
and on the deposit maturity, the Bank promoted, for the retail and corporate
customers, a series of non-standard deposits, different from the standard one
by the attractive yearly interest rates and commissions discounts.
In order to assess correctly the
evolution of the cash attracted from customers, we consider opportune to detail
them by depositors, as follows:
RON
Indicator
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Deposits
of legal persons |
90.657.914 |
46,05 |
155.683.291 |
31,91 |
171,72 |
|
- on sight |
40.077.733 |
20,36 |
41.051.956 |
8,41 |
102,43 |
|
- term deposits |
39.067.335 |
19,84 |
113.692.235 |
23,30 |
291,01 |
|
- certificates |
11.512.846 |
5,85 |
939.100 |
0,19 |
8,15 |
|
Deposits
of natural persons |
106.202.643 |
53,95 |
332.266.579 |
68,09 |
312,86 |
|
- on sight |
27.064.166 |
13.75 |
32.969.547 |
6,76 |
121,81 |
|
- term deposits |
69.615.194 |
35,36 |
295.927.970 |
60,65 |
425,09 |
|
- certificates |
9.523.283 |
4,84 |
3.369.062 |
0,69 |
35,37 |
|
Total
deposits, of which: |
196.860.557 |
100,00 |
487.949.870 |
100,00 |
247,86 |
|
- on sight |
67.141.899 |
34,10 |
74.021.503 |
15,17 |
110,24 |
|
- term deposits |
108.682.529 |
52,20 |
409.620.205 |
83,95 |
376,89 |
|
- certificates |
21.036.129 |
13,70 |
4.308.162 |
0,88 |
20,47 |
The above data show an increase of
the deposits both for the retail customers and for the corporate customers, but
the deposits of the natural persons at the end of 2009 represent 68% of the
total deposits attracted by the bank.
We mention that the bank is involved
in the guaranteeing scheme of the Deposit Guarantee Fund in the Banking System
in Romania. Under those circumstances, the Bank's customers have been informed
that the guarantee ceiling is established for the amount of 50.000 EUR. The
bank's contribution to the deposits guarantee fund is a share of 0,2% of the
total deposits included in the guaranteeing scheme, on a yearly basis.
The
value of the Bank's cash in the cashier's office, at the Central Bank and
at correspondent banks, on 31.12.2009 was 282.047.821 RON, increasing with
40.091.476 RON in comparison to 31.12.2008. This increase represents 16,56%, as
follows:
RON
Indicator
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Cash in the cashier's office |
10.038.672 |
4,14 |
18.561.674 |
6,58 |
184,90 |
|
-
lei/lei |
8.646.842 |
3,57 |
12.095.401 |
4,29 |
139,88 |
|
-
lei/foreign currency |
1.391.830 |
0,57 |
6.466.273 |
2,29 |
464,58 |
|
Cash at the Central Bank |
189.189.760 |
78,19 |
115.093.183 |
40,81 |
60,83 |
|
-
lei/lei |
20.561.335 |
8,49 |
32.871.162 |
11,65 |
159,86 |
|
-
lei/foreign currency |
168.628.425 |
69,70 |
82.222.021 |
29,15 |
48,75 |
|
Cash at correspondent banks |
42.727.913 |
17.67 |
148.392.964 |
52,61 |
347,29 |
|
-
lei/lei |
24.000.725 |
9,91 |
95.000.000 |
33,68 |
395,82 |
|
-
lei/foreign currency |
18.727.188 |
7,76 |
53.392.964 |
18,93 |
285,10 |
|
Total, of which: |
241.956.345 |
100,00 |
282.047.821 |
100,00 |
116,56 |
|
-
lei/lei |
53.208.902 |
21,99 |
139.966.563 |
49,63 |
263,05 |
|
-
lei/foreign currency |
188.747.443 |
78,01 |
142.081.258 |
50,37 |
75,27 |
Even if, during 2009, the Bank had a
significant increase of the volume of granted loans, however, on 31.12.2009 it
had an increase by 16.56% of its total cash.
We mention that the cash at the
Central Bank includes the amounts related to the minimum reserve requirement, as follows:
RON
Indicator
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
MRR lei/lei |
20.561.335 |
10,86 |
29.332.233 |
26.12 |
142,65 |
|
MRR lei/foreign currency |
168.628.425 |
89,14 |
82.956.190 |
73,88 |
49,19 |
|
Total MRR |
189.189.760 |
100,00 |
112.288.423 |
100,00 |
59,35 |
The reduction in the amount of the
minimum reserve requirement at the Central Bank is explicable by the NBR
decision to decrease the setting up percentage from 18% to 15% for the deposits
denominated in lei and from 40% to 25% for the deposits denominated in EUR.
The use of the Bank's cash for
expanding its business is limited by the requirement to ensure a level of the
immediate liquidity of 30% and a level of minimum 1% for each maturity interval
of the general liquidity. The immediate liquidity represents the ratio between
the bank's cash and the cash attracted by the bank, irrespective of the
maturity interval. The general liquidity represents the ratio between the
bank's cash and the cash attracted by the bank, for each maturity interval.
Having regard to the above information, the liquidity indicators are as
follows:
|
Indicator |
31.12.2008 |
31.12.2009 |
Immediate liquidity
|
36,39% |
31,84% |
|
General liquidity |
1,50% |
1,15% |
The state securities bought by the Bank, registered in balance on 31.12.2009, had the value
of 92.425.492 RON, increasing with 72.420.840 RON in comparison to 31.12.2008.
They were purchase in order to cover the liquidity risk, having regard to the
fact that the state securities represent a guarantee accepted by the Central
Bank for granting the loans requested by the commercial banks in case of
treasury difficulties.
The
loans in the main financial statement on 31.12.2009 had the value of
895.913.157 RON, increasing with 296.198.906 RON in comparison to the end of 2008. This
indicates an increase of 49,39%. We mention that the amount of the loans
mentioned in the accounting balance sheet represent the net value resulted
after deducting the specific provisions from the gross value, as follows:
RON
Indicator
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Short term loans |
207.735.318 |
34,45 |
314.285.883 |
34,96 |
151,29 |
|
-
lei/lei |
131.700.406 |
21,84 |
119.213.188 |
13,26 |
90,51 |
|
-
lei/foreign currency |
76.034.912 |
12,61 |
195.072.695 |
21,70 |
256,55 |
|
Medium term loans |
143.772.457 |
23,84 |
246.028.232 |
27,36 |
171,12 |
|
-
lei/lei |
49.199.495 |
8,15 |
25.865.851 |
2,88 |
52,57 |
|
-
lei/foreign currency |
94.572.962 |
15,69 |
220.162.381 |
24,48 |
232,79 |
|
Long term loans |
251.432.495 |
41,71 |
338.756.546 |
37,68 |
134,73 |
|
-
lei/lei |
99.733.623 |
16,54 |
53.085.813 |
5,90 |
53,22 |
|
-
lei/foreign currency |
151.698.872 |
25,17 |
285.670.733 |
31,78 |
188,31 |
|
Total loans (gross) |
602.940.270 |
100,00 |
899.070.661 |
100,00 |
149,11 |
|
-
lei/lei |
280.633.524 |
46,54 |
198.164.852 |
22,04 |
70,61 |
|
-
lei/foreign currency |
322.306.746 |
53,46 |
700.905.809 |
77,96 |
217,46 |
|
Provisions |
3.226.019 |
100,00 |
3.661.790 |
100,00 |
97,87 |
|
-
lei/lei |
2.673.321 |
82,86 |
2.197.879 |
69,61 |
82,21 |
|
-
lei/foreign currency |
552.698 |
17,14 |
1.463.911 |
30,39 |
173,62 |
|
Total loans (net) |
599.714.251 |
100,00 |
895.408.871 |
100,00 |
149,30 |
|
-
lei/lei |
277.960.203 |
46,34 |
195.966.973 |
21,87 |
70,50 |
|
-
lei/foreign currency |
321.754.048 |
53,66 |
699.441.898 |
78,13 |
217,54 |
It should be noticed that, during
2009, the weight of the granted loans denominated in RON decreased and the
weight of the granted loans denominated in EUR doubled in value.
The value of the loans exported by ATE Bank Romania to ATE Bank Greece
continued to increase during 2009, as well. ATE Bank Romania received the value
of the exported loans, denominated in EUR, and ATE Bank Greece received the
value of the related interest, denominated in EUR. At the same time, according
to the agreement, ATE Bank Romania is entitled to a commission of 0,5% of the
income from interest, for the management of the exported loans portfolio. The
taxes related to the income from interest, owed to the state budget of Romania,
were paid by ATE Bank Romania. The status of the loans exported is as follows:
RON
Indicator
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Corporate Credit Activity |
|
|
|
|
|
|
-
RON |
79.745.920 |
57,15 |
84.183.631 |
50,39 |
105,56 |
|
-
EUR equivalent |
20.010.519 |
57,15 |
19.910.040 |
50,39 |
99,49 |
|
Retail Credit Activity |
|
|
|
|
|
|
-
RON |
59.792.171 |
42,85 |
82.879.101 |
49,61 |
138,61 |
|
-
EUR equivalent |
15.003.556 |
42,85 |
19.601.509 |
49,61 |
130,64 |
|
Total |
|
|
|
|
|
|
-
RON |
139.538.091 |
100,00 |
167.062.732 |
100,00 |
119,72 |
|
-
EUR equivalent |
35.014.075 |
100,00 |
39.511.549 |
100,00 |
112,84 |
|
Interest paid |
|
|
|
|
|
|
-
RON |
1.699.620 |
89,94 |
9.280.529 |
89,94 |
546,03 |
|
-
EUR equivalent |
426.483 |
89,94 |
2.194.912 |
89,94 |
514,65 |
|
Taxes paid |
|
|
|
|
|
|
-
RON |
189.902 |
10,06 |
1.037.785 |
10,06 |
546,48 |
|
-
EUR equivalent |
47.652 |
10,06 |
245.444 |
10,06 |
515,07 |
|
Total payments |
|
|
|
|
|
|
-
RON |
1.889.522 |
100,00 |
10.318.314 |
100,00 |
546,08 |
|
-
EUR equivalent |
474.135 |
100,00 |
2.440.356 |
100,00 |
514,69 |
|
ATE Bank Romania commission |
|
|
|
|
|
|
-
RON |
8.498 |
- |
46.403 |
- |
546,04 |
|
-
EUR equivalent |
2.132 |
- |
10.975 |
- |
514,77 |
The amount of 40.000.000 EUR
received by ATE Bank Romania from ATE Bank Greece for the exported loans was
used by ATE Bank Romania to continue the development of its business.
The request for loans, expressed by customer category and loan type, at the end of 2009, had the
following features:
RON
Indicator
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Corporate Credit Activity |
512.895.394 |
85,10 |
749.905.515 |
83,41 |
146,21 |
|
-
for treasury |
194.870.061 |
32,31 |
379.510.857 |
42,21 |
194,75 |
|
-
for investments |
318.025.334 |
52,79 |
370.394.658 |
41,20 |
116,47 |
|
Retail Credit Activity |
90.044.876 |
14,90 |
149.165.146 |
16,59 |
165,66 |
|
-
consumer loans |
75.048.783 |
12,44 |
105.823.166 |
11,77 |
141,01 |
|
-
real estate / mortgage loans |
14.996.093 |
2,46 |
43.341.980 |
4,82 |
289,02 |
|
Total |
602.940.270 |
100,00 |
899.070.661 |
100,00 |
149,11 |
The above data show that, during
2009, the value of the mortgage/real estate loans granted to retail customers
had the largest increase. This was also due to the "FIRST HOME"
programme promoted by the Romanian Government. The Bank joined this programme
due to the fact that the Romanian Government guarantees all the loans granted
under this scheme, for 100% of their value. Under these circumstances, the
value of the mortgage loans granted up to 31.12.2009 in the "FIRST
HOME" programme was 15.812.914 RON, which is the equivalent of 3.739.869
EUR.
Regarding the trend of the
non-performing loans ( loans with a debt services longer than 90 calendar
days), we present the following:
|
Indicator |
31.12.2008 |
31.12.2009 |
% |
Total loans
|
602.940.270 |
899.070.661 |
149,11 |
|
Non-performing loans |
2.145.003 |
2.648.296 |
123,46 |
|
% |
0,36% |
0,29% |
80,55 |
This shows that, during 2009, the
Bank paid a special attention to the evolution of the non-performing loans
(NPL).
The
letter of guarantees issued by the Bank, as part of the total exposure of
the bank, had the following trend:
RON
Letter of guarantee type
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Payment of custom taxes |
6.000 |
0,04 |
9.060 |
0,02 |
151,00 |
|
Participation in bids |
269.401 |
1,75 |
975.758 |
2,27 |
362,19 |
|
Performance bonds |
9.920.797 |
64,32 |
6.021.470 |
13,99 |
60,70 |
|
Repayment of advances |
1.957.216 |
12,96 |
22.267.321 |
12,14 |
161,68 |
|
Payment for suppliers |
3.231.227 |
20,95 |
5.224.094 |
51,74 |
1.137,70 |
|
Other |
52.901 |
0,25 |
8.551.602 |
19,84 |
16.165,29 |
|
Total |
15.437.542 |
100,00 |
43.049.305 |
100,00 |
278,86 |
The increase of the letters of
guarantee operations followed the general trend of the Bank's activity during
2009.
Guaranteeing
the bank's exposures from loans and letters of guarantee issued represented
one of the main activities of the bank. The evolution of the guarantees was as
follows:
RON
Guarantee type
|
31.12.2008 |
% |
31.12.2009 |
% |
% |
|
Collateral deposits |
3.755.630 |
0,24 |
4.094.244 |
0,18 |
109,02 |
|
Guarantees from insurance companies |
11.418.353 |
0,74 |
20.354.812 |
0,91 |
178,26 |
|
Financial guarantees |
3.927.420 |
0,25 |
3.593.970 |
0,16 |
91,51 |
|
Mortgages |
1.202.206.353 |
77,88 |
1.666.943.364 |
74,15 |
138,66 |
|
PLEDGES |
105.559.619 |
6,84 |
137.666.736 |
6,12 |
130,42 |
|
Other GUARANTEES |
216.843.063 |
14,05 |
415.292.798 |
18,47 |
191,52 |
|
TOTAL guarantees |
1.543.710.438 |
100,00 |
2.247.945.925 |
100,00 |
145,62 |
|
Exposures from loans |
602.940.270 |
97,50 |
899.070.661 |
95,43 |
149,11 |
|
Exposures from letters of guarantee |
15.437.542 |
2,50 |
43.049.305 |
4,57 |
278,86 |
|
Total exposures |
618.377.812 |
100,00 |
942.119.966 |
100,00 |
152,35 |
|
Degree of coverage |
249,63% |
- |
238,60% |
- |