godišnji izvještaj 2010 annual report 2010 · 4 5 godišnji izvještaj 2011 annual report 2011...

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godišnji izvještaj 2010

annual report 2010

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godišnji izvještaj 2011 annual report 2011

sadržajRIJEČ DIREKTORA 4

MAKROEKONOMSKA ANALIZA 6

Bankarski sektor u BiH 8

Novi talas krize i uticaj na BiH 10

ORGANIZACIJA BANKE 14

Vizija & Misija 14

Organizacija i organizaciona struktura Banke 14

Radne biografije članova Uprave Banke 18

Ljudski resursi Banke 24

Infrastruktura 26

KORPORATIVNO UPRAVLJANJE

I DRUŠTVENA ODGOVORNOST 30

Korporativno upravljanje 30

Korporativna društvena odgovornost i etika 30

Izvještaj o radu Nadzornog odbora

Banke u 2010. godini 32

Izvještaj o radu Odbora za reviziju

u 2010. godini 34

Korporativna Filantropija 36

Nagrade Nove banke U 2010. godini 36

ISO 9001: 2008 u Novoj banci AD Banja Luka 38

FINANSIJSKI IZVJEŠTAJI ZA GODINU KOJA SE

ZAVRŠILA 31. DECEMBRA 2010. GODINE 44

Izveštaj nezavisnog revizora 46

Osnovne informacije 60

Računovodstvene politike 60

Prihodi i rashodi od kamata 88

Prihodi i rashodi po osnovu naknada i provizija 90

Prihodi i rashodi iz operativnog poslovanja 90

Ostali prihodi i rashodi 94

Prihodi i rashodi od promene vrednosti

imovine i obaveza 94

Porez na dobit 96

Gotovina, gotovinski ekvivalenti, zlato i

potrazivanja iz operativnog poslovanja 96

Depoziti i krediti u domaćoj i stranoj valuti 98

DIRECTOR WORD 5

MACROECONOMIC ANALYSIS 7

The banking sector in Bosnia and Herzegovina 9

A new wave of crisis and its impact on

Bosnia and Herzegovina 11

BANK ORGANISATION 15

Vision & Mission 15

The organization and the

organizational structure of the Bank 15

Professional resumes of the

members of the Management Board 19

Human Resources Bank 25

Infrastructure 27

CORPORATE GOVERNANCE AND

SOCIAL RESPONSIBILITY 31

Corporate Governance 31

Corporate social responsibility and ethics 31

Report on the activities of the

Supervisory Board for 2010 33

Report on the activities of the

Audit Committee for 2010 35

Corporate Philanthropy 37

Nova Bank awards in 2010 37

ISO 9001: 2008 in Nova Bank AD Banja Luka 39

FINANCIAL STATEMENTS FOR THE YEAR

ENDED 31 DECEMBER 2010 45

Independent auditor ’s report 47

General information 61

Accounting policies 61

Interest income and expenses 89

Fee and commission income and expenses 91

Operating and direct expenses 91

Operating expenses 95

Income and expense from change in assets

and liabilities 95

Income tax 97

Cash, cash equivalent, gold, anp

operation receivables 97

Deposists and loans in local and

foreign currenc 99

Interest, fee, receivables from sales and

other receivables 101

Given loans and deposits 103

Securities 107

Other investments and accruals 109

Fixed assets and real estate investments 111

Intangible assets 115

Off balance sheet items 119

Deposits and loans liabilities 123

Interest and fee liabilities 123

Other liabilities and accruals 125

Shareholder ’s equity 127

Events after balance sheet date 129

Litigations 129

Potraživanja za kamatu i naknadu, po osnovu

prodaje i druga potraživanja 100

Dati krediti i depoziti 102

Hartije od vrijednosti 106

Ostali plasmani i AVR 108

Osnovna sredstva i ulaganja u nekretnine 110

Nematerijalna ulaganja 114

Vanbilansne pozicije 118

Obaveze po osnovu depozita i kredita 122

Obaveze za kamatu i naknadu 122

Ostale obaveze i PVR 124

Kapital 126

Događaji nakon datuma bilansa stanja 128

Sudski sporovi 128

contents

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RIJEC DIREKTORA INTRODUCTORY WORD BY CEO

Poštovani akcionari, partneri i prijatelji,

Uspiješno smo okončali poslovnu 2010. godinu. Obzirom na ekonomske i tržišne uslove u kojima smo poslovali, Nova banka je ostvarila odličan finansijski rezultat, koji će biti veoma dobar temelj za budući razvoj Banke. Ovaj godišnji izvještaj će svakako poslužiti da svi zainteresovani razumiju na koji način su određeni faktori uticali na poslovanje Banke u 2010. godini.Na bazi ključnih makroekonomskih pokazatelja možemo konstatovati da je i protekla godina bila teška za bankar-ski sektor i ekonomiju Bosne i Hercegovine uopšte. Međutim, i u tako složenim ekonomskim i tržišnim uslovima uspijeli smo da, uz pomoć naših klijenata i svih zaposlenih radnika, napravimo još jedan krupan korak u budućem razvoju i jačanju tržišnih pozicija naše Banke. Za razliku od prosjeka bankarskog sektora u 2010. godini nastavili smo trend rasta bilansnih pozicija Banke, ali smo i značajno povećali bazu klijenata. O tome najbolje svjedoče podaci o kreditnoj, ali i štednoj aktivnosti Banke u 2010. godini. Kontinuiran rast nivoa, te broja štednih uloga i ostalih depozita svakako je pokazatelj koji potvrđuje da Nova banka zadobija povjerenje sve većeg broja klijenata, ali i društvene zajednice uopšte.U saradnji sa članovima Nadzornog odbora usvojili smo novi veoma ambiciozan Strateški plan Banke, čime smo definisali viziju i strateške ciljeve za narednih pet godina. I u predstojećoj 2011. godini nastavićemo sa unutrašnjom reorganizacijom Banke, te ćemo oslanjanjući se i dalje na kvalitetan i stručan domaći kadar i interne resurse, nastaviti sa rastom i razvojem naše Banke.Poštovani, izgradili smo snažan korporativni i reputacioni imidž na tržištu Bosne i Hercegovine. O tome svjedoče brojne nagrade i priznanja koje smo dobili u 2010. godini, koja, naravno, predstavljaju satisfakciju, ali i obavezu da i u narednom periodu nastavimo da ostvarujemo odlične rezultate poslovanja Banke. Uvjeren sam da ćemo to uspijeti, cijeneći kadar i resurse kojima Banka trenutno raspolaže. Sloganom: »Nova banka, za dobra nova vremena«, vjerujemo da smo najavili period, u kojem ćemo zajednički sa našim klijentima, zaposlenim radnicima i akcionarima graditi svijetlu i bolju budućnost.U ime Uprave i menadžmenta Banke se, prije svih, zahvaljujem zaposlenima, koji se trude da što bolje razumiju i dostignu ciljeve definisane strategijom Banke, i kojima je čast da budu dio tima Nove banke.Zahvaljujem se članovima Nadzornog odbora, bez čije podrške bi bilo mnogo teže ostvariti odlične rezultate poslovanja. Takođe se zahvaljujem akcionarima Banke, koji su ukazali povjerenje Upravi i menadžmentu Banke, prihvatatjući Strateški plan kao osnovni dokument u daljem razvoju Banke. I na kraju, najveću zahvalnost dugu-jemo našim klijentima, bez čijeg ukazanog povjerenja bi bilo nemoguće razvijati Banku.Dakle, naš zajednički zadatak je izgraditi Banku snažnu, efikasnu i profitabilnu, Banku od povjerenja, čime ćemo osigurati dugoročan rast i razvoj našeg poslovanja.

Predsjednik Uprave i direktor BankeMr Milan Radović

Dear shareholders, partners and friends,

The operations in 2010. were successfully completed. Given the economic and market conditions in which we operated, Nova Bank has achieved excellent financial results, which will be a very good foundation for future development of the Bank. This annual report will definitely serve all interested parties to understand how certain factors influenced the Bank’s operations in 2010. On the basis of the key macroeconomic indicators, we can conclude that the past year has been tough for the banking sector and the economy of Bosnia and Herzegovina in general. However, in such difficult economic and market conditions, we have succeeded with the help of our customers and employees, to make one more big step in further developing and strengthening the market position of our Bank, unlike the banking sector average at 2010. We have continued upward trend in the Bank’s balance sheet positions, but also we have significantly increased the customer base. This is best indicated by the credit data and savings bank activities in 2010. The continued increase in the level and number of savings and other deposits is certainly an indicator which confirms that the Nova Bank gains trust of its clients, which number is increasing, but also of the community at large.In collaboration with members of the Supervisory Board we have adopted an ambitious new strategic plan of the bank, by which we have defined a vision and strategic objectives for the next five years. And in the upcoming 2011.we will continue with the internal reorganization of the Bank, relying on the quality and professional domes-tic staff and internal resources, as so far, we will continue to work on the growth and development of our Bank. Dear Sir/Madam, we have built a strong corporate image and reputation in the market of Bosnia and Herzego-vina. This is evidenced by numerous awards and recognitions we received in 2010. of course it presents the satis-faction and also the commitment to continue to achieve excellent results in the future. I am confident that we will succeed, taking into consideration staff and resources which the Bank currently has. With our slogan: “Nova Bank, For The Good New Times”, we believe that we announced a period in which along with our customers, employees and shareholders we will build a bright and better future.First of all, on behalf of the board and the management of the bank, I thank the employees, who strive to better understand and reach the objectives defined in the bank’s strategy, employees who are honorued to be the part of the Nova Bank team.I thank the members of the Supervisory Board, without their support it would be so much more difficult to achieve excellent business results. We also thank the Bank’s shareholders, who showed confidence in the administration and the management of the bank, accepting the strategic plan as a basic document in the further development of the Bank. And finally, we are most grateful to our clients, without whose trust it would be impossible to ensure the development of the Bank. Therefore, our common task is to build a strong bank, efficient and profitable, a trustworthy bank, which will provide a long-term growth and the development of our business.

The Chairman of the Board and Director of the Bank Mr. Milan Radovic

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Ključna ekonomska kretanja u prvom kvartalu 2011. godine karakterišu blag ekonomski oporavak baziran na oporavku inostrane potražnje i ekspanzije izvoza, vrlo blag oporavak domaće potrošnje i kreditnog rasta, stagnacija registrovane stope nezaposlenosti i indikatora na tržištu rada te rastući nivo inflacije uslijed pritiska „uvezene inflacije“ - kroz rast uvoznih

cijena nafte i hrane sa međunarodnih tržišta.Blagom oporavku domaće potrošnje svakako dopri-nosi i nešto intenzivnija kreditna aktivnost banaka u odnosu na prošlu godinu. Budući da se ne očekuje značajniji oporavak na tržištu rada u ovoj godini, ne očekuju se ni značajno više stope kreditnog rasta u bankarskom sektoru od raspona 3 do 5%.

Key economic trends in the first quarter in 2011. were characterized by a mild economic recovery based on the recovery of foreign demand and export expan-sion, a very mild recovery in domestic spending and credit growth, the stagnation of the registered unem-ployment rate and the labor market indicators, rising inflation pressure due to “imported inflation” –related

to the growth of imported oil and food prices from international markets.

The credit activity of the banks, which is more intense in relation to last year, certainly makes a contribution to a mild recovery in domestic consumption. Since no significant recovery is expected in the labor mar-ket this year, then no significantly higher rates of the

Trenutna politička situacija i dalje negativno utieče na percepciju rizika i trošak sredstava bankama na međunarodnim finansijskim tržištima, a njen raz-voj sigurno će imati efekat na ulazak sredstava međunarodnih investitora i realizaciju kreditnih linija međunarodnih kreditora (MMF, EBRD, WB). Prema preliminarnim podacima Agencije za promociju

stranih direktnih ulaganja iznos stranih investicija registrovan u Q1 2011. godine zabilježio rast od 9% i dostigao iznos od 79 miliona EUR. U skladu sa dešavanjima na međunarodnim tržištima, „uvezena inflacija“ kroz više cijene nafte i energenata reflektovala se i na bosanskohercegovačko tržište pa je inflacija u prvom kvartalu dostigla nivo od 3,3%.

credit growth in the banking sector from the range of 3 to 5%, can’t be expected too.The current political situation has a negative influ-ence on the perception of the risk and the cost of funds related to banks in international financial mar-kets, and its development will certainly have an effect on the entry of the international investors’ funds and

the implementation of the credit lines from interna-tional creditors (IMF, EBRD, and WB). According to the preliminary data from The Agency for Promotion of Foreign Direct Investment- the amount of foreign direct investment registered in Q1 of the 2011th have shown growth of 9% and reached 79 million Euros.In accordance with the developments in the interna-tional markets, “imported inflation” by means of the

MAKROEKONOMSKA ANALIZA

MACROECONOMIC ANALYSIS

Nominalni BDP BiH (u milionima KM) 27.843 28.427 30.076

Nominalna stopa rasta (%) -1,2 2,1 5,8

Realna stopa rasta (%) -2,2 0,5 3,2

Broj stanovnika (000) 3.843 3.843 3.843

BDP per capita 7.245 7.397 7.826

Prosječne neto plate 790 790 813

Prosječne neto plate -0,4 2,1 4,5

Broj nezaposlenih (000) 498 510 522

Uvoz (milion KM) 13.284 14.522 16.347

Izvoz (milion KM) 7.734 9.192 10.443

Pokrivenost uvoza izvozom (%) 58 63 64

Vanjski javni dug (% BDP) 18,3 21,5 20,4

2009 2010 2011

Nominal GDP (million KM) 27.843 28.427 30.076

Nominal growth rate (%) -1,2 2,1 5,8

Real growth rate (%) -2,2 0,5 3,2

Population (000) 3.843 3.843 3.843

GDP per capita 7.245 7.397 7.826

Average net wage 790 790 813

CPI (retail price index) -0,4 2,1 4,5

Number of unemployed (000) 498 510 522

Imports (million) 13.284 14.522 16.347

Exports (million) 7.734 9.192 10.443

Export - import ratio (%) 58 63 64

External public debt (% GDP) 18,3 21,5 20,4

2009 2010 2011

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Obzirom na posljednja dešavanja na međunarodnim tržištima, te na povećanje regulisanih cijena u BiH – cijene gasa od 01.05.2011. i očekivanog povaćanja cijene električne energije u drugoj polovini godine, očekuje se i dodatni „troškovni“ pritisak na opšti nivo cijena, zbog čega će očekivani nivo inflacije na godišnjem nivou u prosjeku dostići 4%. Problem rastuće inflacije sa kojim će se susresti i bh. ekonomija u ovoj godini, zajedno sa vrlo sporim opo-ravkom tržišta rada i zaposlenosti dovešće do do-datnog pritiska na životni standard građana i realnu kupovnu moć u nastavku godine, uprkos očekivanom realnom ekonomskom rastu od 2%.

Bankarski sektor u BiH

Za razliku od 2010. godine kada je BiH bankarski sek-tor ostvario negativan finansijski rezultat uzrokovan smanjenjem ukupnih prihoda i povećanjem ukupnih

rashoda, u prva dva kvartala 2011. godine ostvaren je pozitivan finansijski efekat od 82,89 mil KM.Iako su pokazatelji profitabilnosti bolji u odnosu na prošlu godinu i dalje je prisutno pogoršanje kvaliteta kredita. Krediti klasifikovani u kategoriju A smanjili su svoje učešće u ukupnim kreditima za 2% u odnosu na isti period prošle godine, dok su u odnosu na kraj 2010. godine ipak zabilježili određeno poboljšanje. Nekvalitetni krediti (kategorije od C-E) povećali svoje učešće za 4,6% u odnosu na prvi kvartal 2010. go-dine, a u odnosu na kraj godine 0,3%.

high oil prices and energy prices, also reflected on the Bosnian market and inflation in the first quarter reached a level of 3.3%. Given the recent develop-ments in the international markets and the increase in regulated prices in Bosnia and Herzegovina - gas prices from 01.05.2011. and expected increase in electricity prices in the second half of the year - we expect an additional “cost” pressure on the general price level, making the expected level of inflation per year on average to reach 4%.

The problem of rising inflation, which will make an impact on Bosnia and Herzegovina economy this year, along with a very slow recovery of the labor market and employment, will lead to additional pres-sure on living standards and real purchasing power in the remainder of the year, despite the expected real economic growth of 2%.

The banking sector in Bosnia and Herzegovina

In comparison to 2010, when the banking sector of Bosnia and Herzegovina recorded a negative finan-cial result caused by decrease in total revenues and increase of total expenses, a positive financial effect of 82.89 million KM is recorded in the first two quar-ter of 2011.Although the profitability indicators have improved comparing to the last year ’s, still there is a visible deterioration in credit quality. Loans classified in cat-egory A will reduce their share in total loans by 2% compared to the same period of the last year, while relating to the end of 2010. the improvements have been noted.Non-performing loans (categories of C-E) increased its share by 4.6% compared to the first quarter of 2010 and compared to the end of the year by 0.3%.

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Novi talas krize i uticaj na BiH

Kriza javnog duga evropskih zemalja koja je u 2010. godini uzdrmala same temelje EU, prijeti da preraste u novu globalnu ekonomsku krizu. Očekivanja da će domaća ekonomija ostati imuna na eskalaciju drugog talasa krize u potpunosti su nere-alna i neosnovana. Naime, pad tražnje na tradicion-alnim izvoznim tržištima RS i BiH, kao što su Italija, Njemačka, zemlje CEFTA regiona, negativno će se reflektovati na domaći izvoz koji je, u prethodnom periodu, bio motor ekonomskog oporavka i rasta.

Osim toga, nizak nivo konkurentnosti privrede koja je, da se podsjetimo najnekonkurentnija u regionu i nalazi se na 102. mjestu od ukupno 139. ekonomija, čini je posebno ranjivom na eksterne šokove. Eventualni povratak krize dodatno će produbiti i probleme visoke nazaposlenosti i permanentne ne-likvidnosti realnog sektora. Tako su, prema nekim nezvaničnim procjenama, ukupna dugovanja real-nog sektora na nivou BiH dostigla nivo od preko 20 milijardi KM.

Globalna nestabilnost predstavlja stanje koje na po-goduje investicijama. Naprotiv, destimuliše ih i pro-longira za bolja vremena. U prethodnom periodu, rast i razvoj domaće ekonomije, zahvaljujući izuzetno niskoj soptvenoj akumulaciji, u velikoj mjeri bazirao se na prilivu stranog kapitala, koji će, u uslovima es-kalacije krize biti osjetno smanjen. Osim toga, potreba za refinansiranjem ranijih dugova razvijenih ekonom-ija stvoriće značajan pritisak na međunarodna finan-sijska tržišta što će se, u domaćim okvirima, odraziti na dostupnost kapitala i povećenje kamatnih stopa.

A new wave of crisis and its impact on Bosnia and Herzegovina

Debt crisis in European countries which in 2010 shook the very foundations of the EU, threatens to grow into a new global economic crisis.Expectations that the domestic economy will remain immune to the escalating crisis in the second wave are completely unrealistic and unfounded. The fall in demand in traditional export markets of The Republic of Srpska and Bosnia and Herzegovina, such as Italy, Germany, the CEFTA region, will be reflected nega-tively on the domestic exports which, in the past, was the engine of economic recovery and growth. In addi-tion, the low competitiveness of the economy which, to remind, is the least competitive in the region and is located at 102nd place of 139th economies, makes it particularly vulnerable to external shocks.

Any repetition of the crisis will further deepen the problem of high unemployment and permanent il-liquidity of the real sector. Thus, according to some unofficial estimates, the total debt of the real sector at the state level reached a level of over 20 billion KM.

The global instability is a condition which is not con-ducive to investments. On the contrary, it discourag-es and prolongs investments for better times. In the past, growth and development of domestic economy, thanks to extremely low accumulation of its own, was largely based on the inflow of foreign capital, which, in terms of escalation of the crisis would be signifi-cantly reduced. In addition, the need for refinancing of previous debt of developed economies will create considerable pressure on international financial mar-

kets, which will, in domestic terms, affect the avail-ability of capital and increases in interest rates.

annual report 2011

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Vizija & misija

Vizija Banke je kontinuirano biti pouzdana i na-jprofitabilnija banka srednje veličine u Bosni i Her-cegovini.

Vizija Banke je da bude pouzdana i najprofitabilnija banka srednje veličine u bankarskom sektoru u Bosni i Hercegovini, prisutna u najvećim gradovima u zem-lji i fokusirana na visokokvalitetne proizvode i usluge koje u potpunosti zadovoljavaju potrebe klijenata, primarno stanovništvo i malih i srednjih preduzeća.

Misija Banke je distribucija velikog broja standard-nih proizvoda kroz centralizovan sistem koji je au-tomatizovan do najveće moguće mjere.

Banka će biti poznata i prepoznata po standardnim i jednostavnim proizvodima, kvalitetu usluge koja se dobija za novac, brzini usluge, dostupnosti, transpar-entnosti u operacijama i jednostavnosti da se nađe i dođe do njenih proizvoda i usluga.

Organizacija i organizaciona struktura Banke

Nova banka je na vrijeme prepoznala svoju šansu na tržištu, te preduzela aktivnosti na unapređenju i opti-mizaciji svoje organizacije, svjesna činjenice da samo dobra organizacija poslova može multiplikovati re-zultate. U tom smislu, Banka se opredjelila za centralizovanu organizacionu strukturu, zasnovanu na funkcional-nom grupisanju poslova, s jedne strane, odnosno dovoljno fleksibilnu i elastičnu, s druge strane. Na ovaj način Banka je ostvarila racionalizaciju i organ-

Vision & Mission

The vision of the Bank is to be constantly reliable and the best profitable medium-sized bank in Bosnia and Herzegovina.The vision of the Bank is to be reliable and best prof-itable medium-sized bank in the banking sector in Bosnia and Herzegovina, to be present in the larg-est cities in the country and focused on high qual-ity products and services that fully meet the needs of clients, primarily residents and small and medium enterprises. The mission of the Bank is distribution of a large number of standard products through a centralized system that is automated to the highest extent possible.

The bank will be known and recognized by the stand-ard and simple products, the quality of service that is received, speed of service, accessibility, operational transparency and simplicity in finding and reaching products and services of the bank.

The organization and the organizational structure of the Bank

Nova bank has recognized timely its chance on the market and has taken action to improve and opti-mize its organizations, aware of the fact that the only good business organization can multiply results.In this regard, the bank decided to use centralized organizational structure, based on the functional collecting of tasks, on the one hand, and sufficiently flexible and elastic, on the other. In this way, the bank was able to achieve rationalization and organize its business through the optimal number of areas / sec-tors, which resulted in the stable basis for further de-

izovala poslovanje kroz optimalan broj oblasti/sek-tora, što je rezultovalo stabilnim osnovama za dalji razvoj poslovanja i realizaciju strategije. Ključne izmjene u segmentu organizacije Banke koje su implementirane tokom 2010. godine su:• Ponovo je uspostavljena funkcija interne kontrole kroz Samostalno odjeljenje za internu kontrolu i kvalitet. Zaposleni u ovom Odjeljenju su prošli brojne obuke i edukacije• Uspostavljen je Sektor za podršku i praćenje poslovanja, unutar koga su centraluzovane skoro sve back office funkcije i zahvaljujući kome su Filijale Banke postale isključivo prodajna mjesta• Unapređen je i razvijen Sektor pravnih i opštih poslova• Ojačana je funkcija upravljanja rizicima u Banci• Modernizovane su i potrebama klijenata prilagođene front office funkcije Banke (Sektor poslovanja sa pravnim licima, Sektor Retail i upravljanje mrežom, Filijale Banke)• Unapređen je segment upravljanja aktivom i pasivom Banke, kroz osnivanje ALM Odjeljenja• Formirano je Odjeljenje poslovne inteligencije u sklopu Sektora za informacione tehnologije

Budući da je dobra i adekvatna organizaciona struk-tura osnova za postizanje maksmalnih rezultata, Banke će i dalje unapređivati i dalje razvijati svoju strukturu na sledećim osnovama:• Jasna podjela poslova i odgovornosti. Nespojivost poslova.• Centralizacija. • Standardizacija. • Automatizacija.

velopment and implementation of business strategy.Key changes in the segment of the organization of the bank implemented in 2010 are:• Re-established internal control functions through the Independent Department for the Internal Control and Quality. Employees in this department have un-dergone numerous trainings and education.• Establishment of sector for support and business monitoring, within which, nearly all back office func-tions are centralized and through which the bank branches became exclusively Selling locations.• Advancement and development of the sector of the Legal and General Affairs.• Strengthening of the risk management function in the Bank.• Front office functions of the Bank have been mod-ernized and adapted to the needs of clients (Corpo-rate, Retail Sector and Network Management, Bank Branches)• Segment of managing assets and liabilities of the Bank is improved through the establishment of ALM department• Department of Business Intelligence is formed with-in the Department of The Information Technology

Organizational chart of the bankGood and adequate organizational structure is es-sential to attain maximum results, the bank will con-tinue to improve and further develop its own struc-ture on the following basis:• Clear division of tasks and responsibilities. Incompatibility of the affairs.• Centralization.• Standardization.• Automation.

ORGANIZACIJA BANKE BANK ORGANISATION

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Organizaciona šema banke Bank organizational structure

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Radne biografije članova Uprave Banke:

Milan Radović.Mr Milan Radović je rođen u Sarajevu 21.08.1974, gdje je završio osnovnu školu. Matematičku gimnaziju je pohađao u Sarajevu i Beogradu. Studije Ekonomskog fakulteta je završio u Banjoj Luci.Zvanje magistra ekonomskih nauka je stekao 12.02.2010. na Ekonomskom fakultetu u Subotici, odbranivši tezu: „Strategijsko upravljanje rizikom bankarskih kredita“, sa pros-jekom ocjena 9,75.Posjeduje veliko bankarsko iskustvo. Radio je u Agroprom banci na mjestu šefa UPP-a, u Banci Jugoistočne Evrope je obavljao poslove šefa kreditne službe, u Razvojnoj banci je bio raspoređen na mjesto direktora Direkcije za poslove sa privredom, u Novoj banci na mjesto zamjenika generalnog direktora banke, a trenutno u istoj banci (Nova banka) obavlja dužnost generalnog direktora banke.

U časopisu Saveza računovođa i revizora RS „Finrar “ objavio je sledeće stručne i naučne radove: „Upravljanje likvidnošću u banci“(2004), „Uticaj svijetske finansijske krize na bankarski sektor u RS“(2008), „Upravljanje kamat-nim rizikom“ (2010) i „Upravljanje rizikom kreditnog portfolija“.

Dobitnik je prestižne nagrade za najboljeg menadžera u bankarstvu 2009. godine –„Menadžer 2009“, u organi-zaciji Direkcije Agencije za izbor najmenadžera BiH, Jugoistočne i Srednje Evrope. Nova banka kojom rukovodi mr Radović je od strane Privredne komore Republike Srpske nagrađena priznanjem za najbolju banku u Repub-lici Srpskoj u 2009. godini, a za 2010. godine je od strane IRB RS je nagrađena za doprinos u razvoju Repub-like Srpske, budući da je plasirala najviše kredita iz kreditne linije ove banke. Uz to značajan u potvrdu dobrog korporativnog upravljanja predstavljaju i nagrade „Dobro 2010“ IFC i organizacija: Mozaik i Mašta za najbolje društveno-odgovorno preduzeće u BiH i „Zlatna akcija“ Banjalučke berze za 2009. za najviše standarde korpora-tivnog upravljanja. Govori engleski jezik.

Goran Avlijaš.Goran Avlijaš je rođen u Sarajevu, 26.03.1955. godine, gdje je završio osnovnu i srednju školu, te Ekonomski fakultet i 1978. godine stekao diplomu diplomiranog ekonomiste. Tokom svog radnog vijeka je radio u velikom broju preduzeća, kao direktor i koja su upravo u tom periodu iskazala najbolje rezultate u svom poslovanju. Radio je u Ener-goinvestu Sarajevo, Šipad export import Sarajevo (kao direktor finansijskog sektora), Lanaco Beograd (kao direktor). U Novoj banci radi od 1999. godine, gdje je počeo kao direktor Filijale Banja Luka, najuspješnije i najprofitabilnije filijale Banke. Od aprila 2010. godine je član Uprave Banke i zamjenik direktora Banke.U svom dosadašnjem radu je učestvovao na velikom broju seminara i radionica, te i sam bio predavač na mnogima. Govori ruski jezik.

Professional resumes of the members of the Management Board:

Milan Radovic.Mr. Milan Radovic was born in Sarajevo on 21.08.1974, where he finished elementary school. He attended high school of mathematics in Sarajevo and Belgrade. Faculty of Economics Studies completed in Banja Luka.Master ’s degree in economics was earned 12.02.2010.on Faculty of Economics in Sub-otica, the thesis: “Strategic management of bank credit risk”, with 9.75 grade point average. Has extensive banking experience,worked in Agroprom Bank as head of IPT, while working in the Bank of Southeast Europe he performed the tasks of the Head of Credit Services, in the Development Bank he worked as the Director of Corporate Banking, in Nova Bank he was the Deputy General Manager of the bank, and currently in the same Bank (Nova Bank) is on the position of The General Manager of the bank.In the Magazine of the Association of Accountants and Auditors of Republic of Srpska “Finrar” he published the following professional and scientific papers: “Liquidity management in the banking sector” (2004), “The impact of the world financial crisis on the banking sector in The Republic of Srpska” (2008), “Interest rate risk management” (2010 ) and “Risk Management of loan portfolio.” He has received prestigious award for the best bank manager in the 2009 - “Manager 2009”, organized by the Directorate of the Agency for selecting the best manager in Bosnia and Herzegovina, Southeast and Central Europe. The Nova Bank run by Mr. Radovic has been awarded by the Republic of Srpska Chamber of Commerce the award for the best bank in the Republic of Srpska in 2009 and for 2010 the IDB of the Republic of Srpska awarded the Nova Bank for contribution to the development of the Republic of Srpska, offering the greatest number of loans from this bank credit line. In addition to a significant confirmation of good corporate governance are the rewards “Good 2010” IFC and organizations: Mosaic and Imagination of the best socially responsible company in Bosnia and Herzegovina the “Golden Share” of the Banja Luka Stock Exchange for 2009 for the highest standards of corporate governance. He speaks English language.

Goran Avlijas.Goran Avlijas was born in Sarajevo, 26.03.1955. , where he finished elementary and high school, and Faculty of Economics and in 1978 got his diploma of economics. During his working life he worked in many companies as a director and in that period those com-panies showed the best results in their business. He worked in Energoinvest Sarajevo, Sarajevo Šipad export import (as director of the financial sector), Lanaco Belgrade (as director). In the Nova Bank he has worked since 1999. , where he started at the posi-tion of Banja Luka Branch Manager, the most successful and most profitable branch of the Bank. Since April 2010. he has been a member of the Management Board and The Deputy Director of the Bank. His previous work experience includes participation at numerous seminars and workshops, and many of those he attended as a speaker. He speaks Russian language.

20 21


Novislav Milaković.Novislav Milaković je rođen u Banja Luci, 08.02.1970. godine, gdje je završio osnovnu i srednju tehničku školu, te Elektrotehnički fakultet i gdje je 1998. godine stekao zvanje diplomiranog inžinjera za informatiku i automatiku. Cijeli svoj radni vijek radi u bankarst-vu i usko se specijalizovao za različite informacione sisteme koji se koriste u bankarstvu. Radio je u Srpskoj državnoj banci (kao projektni programer u IT sektoru), Razvojnoj banci Banja Luka (kao šef odjeljenja podrške u IT sektoru), Razvojnoj banci Jugoistočne Evrope (kao šef odjeljenja podrške u IT sektoru), NLB Razvojnoj banci (kao pomoćnik direktora Centra za Back Office poslove, te kao direktor Centra za Back Office poslove). U Novoj banci je od 15.09.2010. godine i obavlja poslove izvršnog direktora za Back Office poslove.

Prisustvovao je velikom broju seminara i radionica iz oblasti bankarstva i informacionih sistema, seminara za kartičarstvo, upravljanje kadrovima, programiranje i tjuniranje baza podataka. Posjeduje Oracle certifikat iz oblasti tjuniranja baza podataka. Završio je napredne kurseve Microsoft alata I Microsoft Access baze podataka. Govori engleski jezik.

Dragica Blagojević.Dragica Blagojević je rođena u Kninu, u Republici Hrvatskoj, 23.08.1959. godine. Ekonomski fakultet je završila u Banja Luci, gdje je 1982. godine stekla zvanje diplo-miranog ekonomiste. Cijeli svoj radni vijek radi u bankarstvu i posjeduje veliko bankarsko iskustvo. Radila je u Banjalučkoj banci Banja Luka (kao viši refernet na poslovima plat-nog prometa sa inostranstvom, pa kasnije i kao šef platnog prometa sa instranstvom), Banci Jugoistočne Evrope, Filijala Banja Luka (kao direktor sredstava i platnog prometa), Razvojnoj banci Jugoistočne Evrope (kao direktor sektora poslova sa inostranstvom, direktor sektora deviznih poslova, te kao direktor sektora novčanih sredstva), NLB Raz-vojnoj banci (kao direktor Centra za upravljanjesredstvima, te kao direktor Centra platni sistemi). U Novoj banci je od početka 2011. Godine i obavlja funkciju izvršnog direktora za Treasury i platne sisteme. Učestvovala je u radu velikog broja konferencija, među kojima se izdvajaju: Seminari u organizaciji USAID I GTZ Njemačka, seminari u ino bakama (Austrija-BAWAG banka 1998, Njemacka-LHB F/M-juni 1997, DEUTSCHE BANK F/M mart 2005), Međunarodna konferencija EX-IM banke iz Washingtona 2003, Economist Conferences 2003- 2010, Treasury &Gloal payment Business Line NLB Grupe 2006-2010, te mnogim drugim.

Član je Americke trgovinske komore/Finance/Banking Committee pri Am-Cham 2003-2005, Odbora za devizno trziste pri Udruženju banaka Republike Srpske 2003, Član savjeta Univeriteta 2006, Član Povremene Komisije UB BIH za trziste novca 2007. Govori engleski jezik.

Novislav Milakovic.Novislav Milakovic was born in Banja Luka, 08.02.1970. , where he attended primary and secondary technical school, and faculty of Electrical Engineering. In 1989. he earned the title of The Bachelor of Computer Science and Automatic control. He has spent all his working life in a banking sector and he specialized in different information systems used in a banking sector. He worked in The Serbian State Bank (as project developer in the IT sector), Development Bank of Banja Luka (as head of the support in the IT sector), South East Europe Development Bank (as head of the support in the IT sector), NLB Development Bank (as Assistant Director of the Center for Back Office operations, and as Director of Back Office operations), He has been a member of the Nova Bank staff since15.09.2010. and has performed the work of the Executive Director of Back Office operations. He attended numerous seminars and workshops in the field of banking, information systems, payment card, personnel management, programming and database tuning, and has a certificate in the field of Oracle database tuning. He completed advanced courses in Microsoft tools and Microsoft Access database. He speaks English Language.

Dragica Blagojevic.Dragica Blagojevic was born in Knin in Croatia, 23.08.1959 she finished Faculty of Eco-nomics, in Banja Luka, in 1978, got diploma of the graduate in economics. All her work-ing life she has spent in banking sector and earned extensive banking experience. She worked in the Banja Luka Bank (as a senior officer related to payment transactions with foreign countries, and later as head of the foreign payment transactions), In the Bank of Southeast Europe she worked in Banja Luka branch office (as Director of Resources and Payment Transactions), In Development Bank of South Eastern Europe ( as Director of Foreign Affairs, Director of Foreign Exchange Affairs and as Director of Financial Re-sources), In the NLB Development Bank (as the director of the Managing funds center, and as director of payment systems). In the Nova Bank she has worked since the begin-ning of the 2011 as The Executive Director of the Treasury, and Payment Systems. She participated in the work of a large number of conferences, among which are: The seminars, organized by USAID and GTZ Germany, seminars abroad (Austria BAWAG-Bank 1998, Germany-LHB F / M-June 1997, DEUTSCHE BANK F / M March 2005) , International Conference of the EX-IM Bank in Washington in 2003, Economist Con-ferences from 2003 to 2010, Treasury & Global Payment Business Line NLB Group 2006-2010, and many others.She is the Member of the American Chamber of Commerce / Finance / Banking Committee at the Am-Cham 2003-2005, the Committee of Foreign Exchange Market at the Association of Serbian Banks 2003, Council Mem-ber of the university 2006, Member of the Temporary Committee Bosnia and Herzegovina for the money market 2007. Fluent in English.

22 23


Pomoćnici uprave• Zora Dokić • Ostoja Popić

Sekretar Banke• Ivana Ćeranić

Interni revizor• Branka Štaka

Sektori i samostalna odjeljenja Nove Banke• Dobrila Lovre, Direktor sektora za platne sisteme • Igor Jovičić, Direktor sektora Retail i upravljanje mrežom • Rada Ković, Direktor sektora poslovanja sa pravnim licima • Mirko Antić, Direktor sektora za informacione tehnologije • Gorana Zorić, Direktor sektora za finansije i računovodstvo • Darija Brkić Smiljanić, Direktor sektora za upravljanje rizicima • Jasna Zrilić, Direktor sektora za sredstava • Milan Kudra, Direktor sektora pravnih i opštih poslova• Gordana Dubinović, Direktor Sektora za podršku i praćenje poslovanja • Vidosava Pejić, Rukovodilac samostalnog odjeljenja za internu kontrolu i kvalitet• Milanko Jević, Rukovodilac samostalnog odjeljenja za upravljanje ljudskim resursima • Zoran Skvarica, Rukovodilac samostalnog odjeljenja za usklađenost

Filijale Nove Banke• Filijala Bijeljina, Direktor Filijale, Goran Lalić • Filijala Banja Luka, Direktor Filijale, Mladen Trninić• Filijala Brčko, Direktor Filijale, Anka Bulatović • Filijala Zvornik, Direktor Filijale, Brankica Risović • Filijala Doboj, Direktor Filijale, Miodrag Mišić • Filijala Istočno Sarajevo, Direktor Filijale, Milinko Lalović • Filijala Sarajevo, Direktor Filijale, Goran Kovačević • Filijala Foča, Direktor Filijale, Milada Simić • Filijala Trebinje, Direktor Filijale, Obrad Zelenović • Filijala Ljubuški, Direktor Filijale, Tomo Grbavac • Filijala Broker Nova, Direktor Filijale, Boris Kačavenda

Administration Assistant• Zora Dokic • Ostoja Popic

Bank Secretary• Ivana Ćeranic

Internal Auditor• Branka Štaka

Nova Bank Departments and Independent Departments • Dobrila Lovre, Director of Payment Systems • Igor Jovicic, Director of Retail and Network Management • Rada Kovic, Director of Corporate • Mirko Antic, Director of Information Technology • Gorana Zoric, Director of Finance and Accounting • Darija Brkić Smiljanic, Director of Risk Management • Jasna Zrilic, Director of resources • Milan Kudra, Director of Legal and General Affairs• Gordana Dubinovic, Director of Support and Business monitoring • Vidosava Pejic, Head of Independent Departments for Internal Control and Quality• Milanko Jevic, Head of independent department of Human Resource Management • Zoran Skvarica, Head of Department for an independent compliance

Nova Bank Branch• Bijeljina Branch, Branch Manager, Goran Lalic • Branch office Banja Luka, Head of the Branch, Mladen Trninic• Brcko Branch, Branch Manager, Anka Bulatovic • Zvornik Branch, Branch Manager, Brankica Risovic • Doboj Branch, Branch Manager, Miodrag Misic • Branch of East Sarajevo, Branch Manager, Milinko Lalovic• Sarajevo Branch, Branch Manager, Goran Kovacevic • Foca Branch, Branch Manager, Milada Simic • Trebinje Branch, Branch Manager, Obrad Zelenovic • Ljubuški Branch, Branch Manager, Tomo Grbavac • New Branch Broker, Branch Manager, Boris Kacavenda

24 25


Ljudski resursi Banke

Osnovni faktori na kojima se zasniva kontinuirani raz-voj i napredak banke su posvećenost, profesionali-zam i produktivnost svih radnika Banke. U 2010 go-dini, politika upravljanja ljudskim resursima Banke je bila usmjerena ka razvoju stimulativnog i poželjnog radnog okruženja, koji razvija visok nivo produk-tivnosti i efektivnosti radnika Banke kroz izražene procese motivacije i jačanja profesionalnih vještina svih zaposlenih radnika.

U tom smilu, osnovne karakteristike politike upravl-janja ljudskih resursa u 2010. godini su• Racionalizacija broja zaposlenih• Povećanje instruktivnih i kontrolnih funkcija kroz jačanje onoga dijela Banke koji spada u Centralu• Povećanje broja zaposlenih čija zarada zavisi od pojedinačne efikasnosti radnika• Naglašena prodajna radna orijentacija i atmosfere, u Banci u cjelini• Kontinuirana edukcija i razvoj fer i korektne radne atmosfere, te jačanje timskog duha i percepije Banke kao svoje druge kuće

Broj zaposlenih na 31.12.2010. godine je 414.

Human Resources Bank

The main factors on which is based The constant de-velopment and progress of the bank depends on its main factors, which are following ones: commitment, professionalism and productivity of all employees of the Bank. In 2010, human resource management policies of the Bank were aimed at the development of stimulating and desirable working environment, which develops a high level of productivity and ef-fectiveness of Bank staff expressed through the pro-cesses of motivation and strengthening the profes-sional skills of all employees.

In that context, the basic characteristics of human resource management policy in 2010 are:• Rationalization of the number of employees• Increasing the instructional and supervisory functions through strengthening that part of the Bank which is the part of the headquarters.• Increase the number of employees whose earnings depend on the efficiency of individual workers• Emphasized sales orientation and working atmosphere in the Bank as a whole• Continuing education and development of the fair working environment, and strengthening the team spirit and perception of the Bank as its second home

Number of employees was 414 on the day 31.12.2010.

Qualification structure

Similar to previous years, the gender structure of the Bank, 70% of workers are women, and the average age of employees is 38.4 years, which means that the Bank is in the prime.

Efficiency, observed in profit per employee was 20.790KM.

The motivation for employees is based on the realization of plans which are presented to branches and other organizational units.During the year, in two different periods, a survey carried out (based on internal knowledge and own resources) the level of satisfaction with various as-pects of the Bank and potential fluctuations. The survey results, which showed that the Bank is seen as highly desirable employer were presented to the Management Board, which in turn, had an effect on the introduction of wage work according to efficien-cy, within the Bank.

Slično kao i prethodnih nekoliko godina, prema pol-noj strukturi 70% radnika Banke su žene, a prosječna starost zaposlenih je 38,4 godine, što znači da je Banka u najboljim godinama.

Efikasnost, posmatrana kroz dobit po zaposlenom iznosi 20,79 hiljada KM.

Motivacija za rad zaposlenih je koncipirana na os-novu ostvarenja planova koje su postavljeni filijalama i drugim organizacionim dijelovima.

U toku godine, u dva različita perioda, je izvršeno anketno istraživanje (na osnovu internog znanja i vlastitim sredstvima) nivoa zadovoljstva raznim as-pektima rada u Banci i potencijalne fluktuacije.

Rezultati ankete, koji su pokazali da je Banka viđena kao veoma poželjan poslodavacm su prezentovani Upravi Banke, što je pak, imalo odraza na uvođenje zarada prema radu i efikasnosti, u dijelu Banke.

Master.

9

TOTAL

414

University degree

251

College degree

55

High School

99

No Education

0

Elementary

0

Kvalifikaciona struktura

Mr. VSS VŠS SSS KV NSS UKUPNO

9 251 55 99 0 0 414

Kvali�kaciona struktura

Magistar

Visoka stručna sprema

Viša školska sprema

Srednja stručna sprema

26 27


Obučavanje je realizovano prema iskazanim tekućim potrebama. Tokom 2010. godine Banke je organizovala 10 internih edukacija kojima je prisus-tvovalo 787 polaznika.Najveći dio ovih obuka se odnosio na bezbjednost rada i poslovanja, kao što su: zaštita na radu, zaštita od požara; sprečavanje pranja novca i finansiranje terorističkih aktivnosti.

Dio obuka je obuhvatio prodajno osoblje u sklopu naglašene prodajne orijentacije Banke i ciljeva koji su u tom smislu postavljeni od Uprave Banke. Eksternih edukacija je bilo 19 a polaznika ukupno 21.

Ovome treba dodati i brojne, dnevne, transfere znan-ja sa jednog na drugog saradnika, naročito kada su u pitanju interne promjene sa jednog na drugo radno mjesto ili kada se neki poslovi ili IT aplikacije »pri-dodaju« nekom radnom mjestu. Taj vid obučavanja je zasnovan na organizaciji transfera od strane nepo-srednih rukovodilaca i na vrlo pozitivnoj klimi među zaposlenima koji su skoro uvijek spremno prenose znanja na druge i to je ono što predstavlja poseban kvalitet Banke.

Training was conducted according to the expressed current needs.In 2010 the Bank organized 10 internal trainings which were attended by 787 participants.Most of these trainings related to the safety of work and business, such as occupational safety, fire pro-tection, prevention of money laundering and financ-ing terrorist activities.Part of the training included the sales staff in the bank, emphasizing the sales orientation and goals which are in that sense set from the Management Board.Number of the External Education Training was 19 and total participants 21.We should mention a number of daily transfers of knowledge from one to another user, especially when it comes to internal changes from one to another po-sition or when a business or IT application “adds to” a place of business. This type of training is based on the organization of the transfer by indirect supervi-sors and positive climate among employees who are always ready to transmit knowledge to others making that, in so many ways, a special quality of the Bank.

28 29


Infrastruktura

U cilju konstantnog unapređenja poslovanja Banke, te pojednostavljivanja usluga za krajnje korisnike, Banka je tokom 2010. godine u značajnoj mjeri izm-jenila i unaprijedila infrastrukturu svog poslovanja.U cilju provođenja nove strategije, te podjele poslova i funkcija u Banci na front i back funkcije , sredinom godine je formiran Sektor za podršku i praćenje poslovanja.

Centralizacijom određenih funkcija pored toga što je postignuta bolja kontrola, imala je za posledicu u racionalizacije, jer je omogućila većem broju zapos-lenih da obavlja front funkcije i bude primarno usm-jeren na zadovoljavanje potreba klijenata.

S druge strane pak, a u skladu sa savremenim ten-dencijama u informatici i bankarstvu, Nova banka je formirala odeljenje poslovne inteligencije. Poslovna inteligencija (BI, Business Intelligence) predstavlja oblast u okviru i informacionih tehnologija čiji je os-novni cilj da sve podatke i informacije u okviru or-ganizacije stavi u službu donešenja odluka. Rešenja sistema poslovne inteligencije za potrebe banke treba da obezbjede donosiocima odluka iz svih poslovnih segmenata banke mogućnost upravljanja i eksploatisanja informacionog potencijala, a sve u cilju rješavanja poslovih problema i donošenja pra-vovremenih odluka. Poslovna inteligencija pokriva mnoge oblasti poslovanje banke, a među najvažnijim su: Upravljanje odnosima sa klijentima (CRM), Uprav-ljanje performansom (PM), Upravljanje rizicima (RM), Upravljanje aktivom i pasivom (ALM), Usklađivanje sa regulativom i standardima (Compliance). U tehnološkom smislu sistemi poslovne inteligencije

Infrastructure

Due to the constant wish for improvement of the Bank, and simplifying services for its customers, the Bank in 2010 significantly changed and improved in-frastructure of its business.

In order to implement the new strategy, the division of tasks and functions within the Bank to the front and back office. By the middle of the year sector was formed to support and monitor the business.

Centralization of certain functions, in addition to the fact that better control is achieved, had the effect of rationalization, because it enabled a larger number of employees to perform front office functions and to be primarily focused on meeting the needs of the clients.On the other hand, in line with the contemporary trends in IT and banking, Nova Bank has formed a new division of business intelligence. Business Intel-ligence (BI, Business Intelligence) is the area within in-formation technology division and whose main goal is that all data and information within the organi-zation is put in the service of the decision-making. Business intelligence solutions for the banks should provide the ability to manage the exploitation of information resources to decision makers from all business segments of the bank, all in order to solve business problems and make timely decisions. Busi-ness intelligence covers many areas of the bank, and among the most important ones are the following: customer relationship management (CRM), perfor-mance management (PM), Risk Management (RM), Asset and Liability Management (ALM), Compli-ance with regulations and standards (Compliance).

In terms of technology business intelligence systems perform data collection from all the sources in the bank, processing and distribution to end-users. Data warehouse database data and analytical processes (OLAP) make informational base for the application of business intelligence. Data mining and knowledge discovery is also an important segment of business intelligence and it deals with complex statistical anal-ysis, discovering ”hidden” links between data and prediction of behavior trends of the business system. An important contribution of business intelligence is the process of the integration and automation of the reporting within the bank.

vrše prikupljanje podataka i svih izvora u banci, nji-hovu obradu i distribuciju krajnim korisnicima. Data warehouse baza podata i analitički procesi (OLAP) čine informacionu osnovu za primenu poslovne in-teligencije. Data mining i otkrivanje znanja je takođe važan segment poslovne inteligencije i bavi se kom-pleksnim statističkim analizama, otkrivanjem ‘’skrive-nih’’ veza među podacima I predviđanjem trendova ponašanja poslovnog sistema. Značajan doprinos sistema poslovne inteligencije je proces integracije i automatizacije izveštavanja u banci.

annual report 2011

3130

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Korporativno upravljanje

Korporativni identitet Nove banke je stabilan, djelimično izgrađen, te mu u periodu od narednih nekoliko godina predstoje značajni izazovi koje je potrebno iskoristiti u cilju izgradnje što pozitivnijeg imidža i reputacije, ali i u cilju učvršćenja brenda. Najveća vrijednost korporativnog identiteta prije sve-ga leži u korporativnom upravljanju, prepoznatom na tržištu kao napredan i standardizovan sistem menadžmenta i sistem standarda kvaliteta (Nova banka je odlikovana i Nagradom za društveno odgo-vorno upravljanje u kategoriji Korporativnog uprav-ljanja, kao banka sa najboljim standardima korpo-rativnog upravljanja). Potrebno je zadržati strateško opredeljenje za centralizovanim, unificiranim i stand-ardizovanim sistemom.

Nova banka je još 2007. godine usvojila svoje stand-arde korporativnog upravljanja kojim je detaljnije utvrdila mehanizme funkcionisanja i zaštite interesa u međusobnim odnosima različitih nosilaca interesa u

akcionarskom društvu. Nosioci interesa u Novoj ban-ci su postojeći i potencijalni akcionari, kreditori, pov-jerioci, zaposleni, Uprava, Nadzorni odbor i država.Poštovanjem standarda upravljanja Bankom, poboljšava se konkurentna sposobnost društva, os-tvaruju se povoljniji uslovi za investicionu aktivnost, te omogućava efikasnije funkcionisanje finansijskih tržišta. Standardi upravljanja Bankom utvrđeni su na bazi sledećih principa korporativnog upravljanja:1. Osiguravanje osnova za efikasnu primjenu prin-cipa upravljanja akcionarskim društvima2. Prava akcionara i ključne vlasničke funkcije3. Ravnopravan tretman akcionara4. Uloga zainteresovanih strana - nosilaca interesa u upravljanju akcionarskim društvima5. Objavljivanje i javnost informacija6. Uloga i odgovornosti odbora.

Korporativna društvena odgovornost i etika

Orijentacija Nove banke prema korporativnoj društvenoj odgovornosti do sada je bila više reak-tivna nego proaktivna, sa fokusom na socijalna da-vanja. Banka pomaže zajednicu u kojoj posluje, prije svega putem donacija socijalno ugroženim grupama (djeca sa posebnim potrebama, siromašni) i mladim talentima (dostignuća iz oblasti nauke, sporta, obra-zovanja).

Corporate Governance

Corporate identity of the Nova Bank is stable, partial-ly built, and in the period of the next few years sig-nificant challenges lie ahead, challenges which need to be used in order to achieve a more positive image and reputation, but also to consolidate the brand. The maximum value of corporate identity lies pri-marily in corporate governance, recognized on the market as a progressive and standardized manage-ment system and also a system of quality standards ( Nova Bank was awarded the prize for socially re-sponsible management in the category of corporate governance, as the bank with the best standards of corporate governance). It is necessary to maintain a strategic commitment to a centralized, unified and standardized system.

Nova Bank in 2007 adopted its own standards of corporate governance by which it has established function mechanisms and ways of protecting the in-terests of the mutual relations of various stakehold-ers in the joint stock company. Stakeholders in the Nova Bank are the existing and potential sharehold-ers, creditors, employees, the Management Board, Supervisory Board and the state.By respecting the bank governance standard, the competitiveness of companies is improved, favorable conditions for investment activity are realized, and more efficient functioning of financial markets is ena-bled. Standards of the Bank are determined on the basis of the following principles of corporate govern-ance:1. Providing a basis for effective application of princi-ples of corporate governance2. The rights of shareholders and key ownership functions

3. Equitable Treatment of Shareholders4. The role of stakeholders - stakeholders in corpo-rate governance5. Disclosure and transparency of information6. The role and responsibilities of the board.

Corporate social responsibility and ethics

Nova Bank orientation towards corporate social re-sponsibility so far has been more reactive than pro-active, with a focus on social benefits. The Bank as-sists the community in which it operates, primarily through donations to vulnerable groups (children with special needs, poor) and young talent (the achievements of science, sports, education).

KORPORATIVNO UPRAVLJANJEI DRUŠTVENA ODGOVORNOST

CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY

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Izvještaj o radu Nadzornog odbora Banke u 2010. godini

OSNOVNE INFORMACIJE:Nadzorni odbor Nove banke AD Banja Luka je u 2010.godini održano • 8 redovnih sjednica• 18 vanrednih/elektronskih sjednicana kojima je razmatrao pitanja iz svoje nadležnosti, te donosio potrebne odluke i zaključke.Nadzorni odbor Banke je tokom 2010.godine radio u izmjenjenom sastavu, u skladu sa odlukama sa XVII redovne sjednice Skupštine akcionara, a kako slijedi:• Goran Radanović, predsjednik Nadzornog odbora• Leon Batagelj, zamjenik predsjednika Nadzornog odbora• Grega Kukec, član• Jeremy Denton-Clark, član• Slobodan Ćurčić, članPrisustvo članova Nadzornog odbora sjednicama je zadovoljavajuće, tako da nije bilo odlaganja sjednica zbog nedostatka kvoruma. U svim slučajevima od-luke su donesene jednoglasno.O radu Nadzornog odbora u 2010. godini uredno su vođeni zapisnici.

Nadzorni odbor Banke je tokom 2010.godine kon-tinuirano razmatrao:• Izvještaj o radu ALCO-a, (Odbor za upravljanje ak-tivom i pasivom Banke)• Izvještaj o sprovedenim stress testovima• Izvještaj o stanju IT-a Banke• Izvještaj o stanju i aktivnostima na naplati spornihplasmana• Izvještaj o aktivnostima i mjerama koje je preduzeoOdbor za upravljanje troškovima

Report on the activities of the Supervisory Board for 2010

GENERAL INFORMATION:Supervisory Board of Nova Bank AD Banja Luka in 2010 held• 8 regularly scheduled meetings• 18 emergency / electronic sessionat which examined the issues within its purview, and brought the necessary decisions and conclusions.during 2010 Supervisory Board was working in the altered composition, in accordance with the deci-sions of the seventeenth regular session of the As-sembly of Shareholders, as follows:• Goran Radanović, President• Leon Batagelj, Deputy President• Grega Kukec, Member• Jeremy Denton-Clark, a member of• Slobodan Curcic on, a member ofThe presence of the members of the Supervisory Board at the meetings was satisfactory, so there was no delay due to lack of quorum. In all cases, decisions are taken unanimously.Records were continuously conducted concerning the work of Supervisory Board in 2010

Supervisory Board was continually reviewed dur-ing 2010:• Report of the ALCO, (Committee for managing As-sets and Liabilities of the Bank)• Report on stress tests conducted• Report on the Bank’s IT• Report on the state and activities concerning billing disputes• Report on the activities and measures taken by the Committee on cost management

• Report of the Internal Audit Department and per-formed audits• Report on the financial operations of the Bank• Records of the Banking Agency of the Republic of Srpska about performed on-site examinations

Acts of the Bank’s business policy:

Much of the activity of the Supervisory Board was directed to making business policy acts under the au-thority of the Board, as follows:• Plan to maintain adequate capital• Policy for identification and registration of persons connected with the Bank and interconnected entities, clients of the Bank• policy for operational risk management• billing policy interest• Security Policy loans• Policy on lending to bank’s clients• Liquidity risk management policy• Liquidity risk management program• Foreign Exchange Risk Management Program• Foreign Exchange Risk Management Policy• Risk Management Policy• Policy on acquisition and disposal of acquired ma-terial and financial assets• Policy of classification of assets exposed to credit risk• Policy of lending to the staff members• Credit risk management program for corporate cli-ents• The decision about the level of risk acceptable to the Bank• Code of Ethics• Rules of Procedure of the Supervisory Board• Rules of Procedure of the Bank

• Izvještaj o radu Odjeljenja interne revizije i izvršenimrevizijama• Izvještaj o finansijskom poslovanju Banke• Zapisnike Agencije za bankarstvo Republike Srpskeo izvršenim on-site kontrolama

Akti poslovne politike Banke:

Veliki dio aktivnosti u radu Nadzornog odbora bio je usmjeren na donošenja akata poslovne politike koji su u nadležnosti Odbora, i to:• Plan za održavanje adekvatnog kapitala• Politika za identifikaciju i evidentiranje lica poveza-nih sa Bankom i o međusobno povezanim licima, kli-jentima Banke• Politika za upravljanje operativnim rizikom• Politika obračuna i naplate kamata• Politika obezbjeđenja plasmana• Politika kreditiranja klijenata Banke• Politika upravljanja rizikom likvidnosti• Program upravljanja rizikom likvidnosti• Program upravljanja deviznim rizikom• Politika upravljanja deviznim rizikom• Politika upravljanja rizicima• Politika o sticanju i postupanju sa stečenom materi-jalnom i finansijskom aktivom• Politika klasifikacije aktive izložene kreditnom riziku• Politika odobravanja kredita radnicima Banke• Program upravljanja kreditnim rizikom za corporateklijente• Odluka o nivou rizika prihvatljivog za Banku• Etički kodeks• Poslovnik o radu Nadzornog odbora Banke• Poslovnik o radu Uprave Banke

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Skupština akcionara Banke:

Nadzorni odbor Banke je tokom 2010.godine zaka-zao XVIII redovnu sjednicu Skupštine akcionara Banke, koja je održana 17.05.2010.godine, na kojoj su po utvrđenom prijedlogu Nadzornog odbora us-vojene odluke o XIV emisiji akcija na osnovu podjele akcija, te o XV emisiji akcija iz neraspoređene dobiti, čime je povećan akcionarski kapital Banke.Nakon odluke o XIV i XV emisij akcija akcionarski ka-pital Banke iznosi 63.145.754,00 KM (i to 63.145.754 običnih akcija nominalne vrijednosti 1,00 KM). Pred-metne emisije su upisane u Registar emitenata kod Komisije za hartije od vrijednosti Republike Srpske i registar Osnovnog suda u Banja Luci.

Izvještaj o radu Odbora za reviziju u 2010. godini

Odbor za reviziju Banke je tokom 2010. Godine radio u neizmjenjenom sastavu u odnosu na prethodnu godinu, odnosno:1. Mr. Vlado Vasiljević, predsjednik2. Prof.dr. Branko Krsmanović, član3. Zdenko Sivrić, član4. Goran Marković, član5. Doc.dr. Slobodan Lukić, član.

U toku 2010.godine Odbor za reviziju održao je tri redovne sjednice, na kojima je razmatrao sva pitanja iz svoje nadležnosti i donosio potrebne zaključke i preporuke.

Naime, na sjednicama Odbora za reviziju razmatrani su:• Plan rada Odjeljenja interne revizije za 2010. godinu

• Kvartalni izvještaji o radu Odjeljenja interne revizije• Preporuke interne revizije utvrđene prilikom datihrevizija• Izvještaji o aktivnostima i stanju u oblasti usklađenostii bezbjednosti• Izvještaji o aktivnostima sistema interne kontrole• Izvještaj eksternog revizora Ernst&Yong o revizijifinansijskih izvještaja Banke za 2009. godinu• Izvještaji o finansijskom poslovanju Banke u 2010.godini - kvartalni i polugodišnji• Ponude za izbor eksternog revizora za reviziju fi-nansijskih izvještaja Banke za 2010. godinu• Zapisnici i rješenja Agencije za bankarstvo Repub-like Srpske, po osnovu sveobuhvatne kontrole i cil-janih kontrola poslovanja Banke.

Odbor za reviziju je jednoglasno odlučivao o pitan-jima koje je razmatrao, a o radu Odbora i pitanjima koje je Odbor razmatrao uredno su vođeni zapisnici.Sjednicama Odbora za reviziju redovno je prisustvo-vao najmanje jedan član Uprave Banke. Prisustvo članova Odbora za reviziju sjednicama je zadovoljavajuće, tako da nije bilo odlaganja sjednica zbog nedostatka kvoruma.

Shareholders’ Assembly:

Supervisory Board during 2010 scheduled eight-eenth regular session of the Assembly of the Share-holders of the Bank, which was held 17.05.2010 and on which, by the motion determined by the Super-visory Board the decision was adopted concerning fourteenth issue of shares based on distribution of shares, and on the fifteenth issue of shares from re-tained earnings, thus increasing shareholders’ equity.Following the decision of the fourteenth and fif-teenth issue of shares, share capital amounts to 63,145,754.00 KM (and to 63,145,754 regular shares of nominal value 1.00 KM). The issue entered in the Registry of Issuers of the Securities Commission of the Republic of Srpska and at the register of the Basic Court in Banja Luka.

Report on the activities of the Audit Committee for 2010

Audit Committee of the bank during 2010 worked in unmodified composition compared to the previ-ous year:1. Mr. Vlado Vasiljevic, President2. Professor Branko Krsmanovic, Member3. Zdenko Sivrić, Member4. Goran Markovic, member5. Ph.D. Slobodan Lukic, member.

In the course of 2010 the Audit Committee held three regular sessions, on which considered all the matters within its jurisdiction and made the neces-sary conclusions and recommendations.That is, on the meetings of the Audit Committee fur-ther issues were discussed:

• The work plan of the Department of internal audit for 2010.• Quarterly reports of the work of Internal Audit De-partment• Internal audit recommendations identified during the audit given• Reports about the activities and situation in the area of compliance and security• Reports about the activities of internal control• Report of external auditor Ernst & Yong concerning the audit of financial statements of the Bank for 2009.• Reports concerning the financial operations of the Bank in 2010 - the quarterly and semiannual• Tenders for the selection of external auditors to au-dit financial statements of the Bank in 2010.• Minutes and decisions of the Banking Agency of the Republic of Srpska on the basis of the comprehensive control and targeted control of the Bank.• The Audit Committee was deciding unanimously about the issues examined, about the Committee and the issues that the Committee considered the minutes are properly guided.

The sessions of the Audit Committee were regularly attended by at least one member of the Bank.The presence of the members of the Audit Commit-tee on the meetings was satisfactory, so there was no delay due to lack of quorum.

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Korporativna Filantropija

Nova banka se svjesno i strateški opredjelila za društveno-odgovorno upravljanje, nastojeći da na taj način doprinese ekonomskom razvoju, razvoju standarda zaposlenih, zajednice i društva uopšte. Vrlo važan element društveno-odgovornog up-ravljanja predstavlja i korporativna filantropija, kojoj Banka poklanja značajan obim svoje pažnje. Banka nije svoj fokus usmjerila na pomoć samo jed-nom segmentu društva, već je nastojala da podrži i unaprijedi više oblasti od društvenog značaja.

U prvom redu ovdje se misli na obrazovne ustanove, budući da se u našoj instituciji izuzetno cijeni vrijed-nost znanja i obrazovanja, u smislu da ono predstav-lja jedan od najvažnijih faktora društvenog razvoja. Uz to Banka značajnim iznosom sredstva podržava i ostale segmente društva donirajući nevladine in-stitucije, neprofitna udruženja građana, fondacije ili učešćem u humantiarnim akcijama po različitom os-novu.

Nova banka će i u budućnosti nastaviti da razvija strategiju, koja se odnosi na ovaj segment društveno-odgovornog upravljanja, kako bi dala još veći dopri-nos razvoju društva i pomogla da se poboljša život naše zajednice u cjelini.

Nagrade Nove banke U 2010. godini

Nova banka je nastavivši trend rasta i razvoja os-tvarila veoma dobar rezultat poslovanja i u protek-loj godini. Sljedeće nagrade dodjeljene našoj Banci za 2010. godinu predstavljaju samo potvrdu tih os-tvarenih rezultata:

Corporate Philanthropy

Nova Bank consciously and strategically opted for a socially-responsible management, trying in that way to contribute to economic development, developing standards of employees, community and society in general. An important element of social responsibil-ity is the management and corporate philanthropy, to which the Bank gives its attention to a significant extent.The Bank did not direct its focus on using just one segment of society, but sought to support and im-prove several areas of social significance.

Primarily, these relate to educational institutions, since our institution highly appreciates the value of knowledge and education, in a sense that it repre-sents one of the most important factors of social de-velopment. In addition, the Bank supports with sig-nificant amount of funding other segments of society by donations for the non-governmental institutions, the non-profit organization, foundation, or partici-pating in humanitarian actions on different grounds.

Nova Bank will continue in the future to develop a strategy, which refers to this segment of socially re-sponsible management, to give even greater contri-bution to society and help the improvement of the life of our community as a whole.

Nova Bank awards in 2010

Nova Bank, by continuing its trend of growth and development achieved a very good business results in the last year. The following prizes awarded to our Bank in 2010 represent only a confirmation of the results achieved:

• Nova Bank received the award for the best socially responsible company in Bosnia and Herzegovina in 2010 from the IFC, the “Mosaic” Foundation and the “Imagination” agency.• From the Banja Luka Stock Exchange “ golden share”, for the best result in the research of the achieved level of corporate governance.• Director of the Nova Bank, Milan Radovic was awarded and recognized as “the best manager in 2010”, the award giving organized by the daily news-paper “Focus” This award is specific because it was assigned from the readers and so even more signifi-cant recognition for the work of Mr. M. Milan Radovic and also for the Nova Bank.• Investment and Development Bank awarded Nova Bank in 2010 with the Recognition for its contribu-tion to the development of the Republic of Srpska. Since the most loans from a credit line of the IDB were given by Nova Bank .• First place in the contest for the best portal in 2010 organized by the Mobil info magazine.

• Nova banka je dobila nagradu za najbolje društveno odgovorno preduzeće u Bosni i Hercegovini za 2010. godinu od strane IFC, Fondacije „Mozaik“ i Agencije „Mašta“;• „Zlatna akcija“ Banjalučke berze hartija od vrijed-nosti za 2010. godinu za najbolji rezultat u istraživanjuo dostignutom nivou korporativnog upravljanja. • Direktor Nove banke, mr Milan Radović nagrađen je priznanjem „Najmenadžer 2010“ u organizaciji Dnevnog lista „Fokus“. Ova nagrada je specifična po tome što je dodeljuju čitaoci i tim više predstavlja značajno priznanje za rad g. mr Milana Radovića, ali i Novu banku čiji je on lider.• Investiciono-razvojna banka je nagradila Novu banku 2010. godine Priznanjem za doprinos razvoju Republike Srpske.Budući da je plasirala najviše kredi-ta iz kreditne linije IRB RS.• Prvo mjesto u izboru za najbolji portal u organi-zacija časopisa Mobil info za 2010. godinu.

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ISO 9001: 2008 u Novoj banci AD Banja Luka

Procesni pristup organizovanja sa korištenjem različitih instrumenata operativnog i strategijskog upravljanja, menadžment Nove Banke je efikasno primjenio u prilagođavanju unutrašnjim i vanjskim promjenama, ujedno povećavajući efektivnost samih procesa.

Osiguravanje kvaliteta ovladavanjem procesa u bankama zahtjeva studiranje sposobnosti procesa s ciljem da se ovlada svim parametrima procesa. Op-timalan, sposoban i stabilan proces nužan je uslov u postizanju kvaliteta proizvoda i usluga, stoga je Nova Banka definisala i postavila kriterijume učinkovitosti procesa.

Nova Banka a.d. Banja Luka kontinuirano razvija sis-tem Upravljanja kvalitetom koji se danas definiše kao osnovni alat menadžmenta, koji prepoznaje i upravlja aktivnostima potrebnim da se dostignu ciljevi kvaliteta jedne organizacije, primjenom triju upravljačkih procesa: planiranja, kontrole i poboljšanja, koji su međusobno povezani.

Sprovođenje praćenja i mjerenja procesa na bazi implementiranog sistema upravljanja kvalitetom u Novoj Banci, bazira se na informacijama o stepenu usklađenosti funkcionisanja organizacionog sistema sa planiranim. Na ovaj način stvara se adekvatna osnova za sprovođenje kako inkrementalnih, tako i radikalnih unapređenja cijelog organizacionog sis-tema. Indikatori kvaliteta omogućavaju menadžmentu Nove Banke da usmjerava proces ka postizanju

namjeravanih izlaza i ciljeva, a odnose se na kvalitet posmatranog objekta i na one performanse koje su od značaja za posmatrani objekat. S druge strane, nepostojanjem parametara i indikatora kvaliteta kao dokaza o postizanju rezultata, sistem rizikuje da pre-vidi neophodna područja za unapređenje.

Jedan od specifičnih zadataka naše bankarske teorije jeste i razvoj analitičkih procedura kojima će se na-dgledati poslovna sposobnost, efikasnost i profitabil-nost u poslovanju banaka. Procedure su te koje u ve-likoj mjeri drže proces pod kontrolom i omogućavaju slijedljivost izmjena u procesima. Poslovna sposob-nost i efikasnost su bitna obilježja performansnih ba-naka, koja odražavaju veću ili manju mikroekonomiju pojedinačne banke, a shodno tome i njihov zajednički doprinos efikasnosti mobilizacije, koncentracije i alokacije finansijskih resursa na nivou makro sistema.

U današnjem svijetu bespoštedne konkurencije svaka stagnacija u razvoju banke je prvi korak prema gu-bitku značajnog udjela na tržištu. Cilj Nove Banke je preko instrumenata upravljanja osigurati stalan rast i razvoj, te povećanje vrijednosti banke. Pri ostvarenju ovog cilja banka mora zadovoljiti očekivanja različitih interesnih grupa kao što su vlasnici, menadžment, zaposleni, dobavljači, potrošači, vladine institucije i društvo u cjelini. Ova očekivanja mogu biti finansi-jske i nefinansijske naravi i pri upravljanju bankom, odnosno donošenju odluka važnih za poslovanje, u obzir je potrebno uzeti i jedna i druga.Konkurencija i sve bolja informisanost kupaca prisil-javaju banke na značajnu promjenu strateškog razmišljanja. Banke koje žele izgraditi konkurentsku sposobnost na sadašnjim i budućim tržištima moraju promijeniti način razmišljanja koji je na banku gledao

ISO 9001: 2008 in Nova Bank AD Banja Luka

The process approach to the organization using dif-ferent instruments of the operating and strategic management, management of the Nova Bank effec-tively applied in adjusting the internal and external changes, also increasing the effectiveness of the pro-cesses.

Quality assurance by mastering processes in banks demands studying of the capability of the process with the goal to master all the parameters of the pro-cess. Optimal, stable and capable process is a neces-sary condition to achieve quality products and ser-vices, so the Nova Bank set the criteria and defined process efficiency.

Nova Banka ad Banja Luka continuously develops the quality management system which is now defined as a basic tool of management, which recognizes and manages the activities necessary to achieve the ob-jectives of the quality of the organization, applying three control processes: planning, control and im-provement, processes which are interconnected.

The implementation of monitoring and measuring of the process, based on quality management sys-tem implemented in the Nova Bank and based on information about the functioning of the organiza-tion, complies with the planned system. In this way an adequate basis is created for the implementation of both incremental and radical improvement of the entire organizational system.Quality indicators enable management of Nova Bank to direct the process towards achieving the intended

outputs and objectives, which relate to the quality of the observed object and the performance features that are important for the observed object. On the other hand, the lack of parameters and quality indi-cators as evidence of achieving results, the system fails to predict risk areas for improvement.

One of the specific tasks of our banking theory is the development of analytical procedures that will over-see the business capacity, efficiency and profitabil-ity in banking. The procedures are those that largely keep the process under control and provide trace-ability of changes in processes. Business capacity and efficiency are essential elements of performance of banks, which reflect more or less microeconomics of individual banks, and consequently their joint con-tribution to the effectiveness of mobilization, con-centration and allocation of financial resources at the level of macro system.

In today’s world of merciless competition any stagna-tion in the development of the bank is the first step to losing significant market share. The objective of the Nova Bank through new management tools is to ensure the continuous growth and development, and increase the value of the bank. In pursuit of this objective, the bank must meet the expectations of various stakeholders such as owners, management, employees, suppliers, consumers, government and society as a whole. These expectations can be of fi-nancial or non financial nature and while managing the bank, or making decisions important to business, both of those must be taken into account.Competition and better informed customers are forcing banks to a significant change in strategic thinking.

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kao na izdvojeni sistem koji se treba pozicionirati na tržištu što je bolje moguće. U današnjoj poslovnoj okolini na banku je potrebno gledati kao na otvoreni dinamički sistem koji je u neprestanoj interakciji sa svojom okolinom i čiji lanac vrijednosti je samo jedan deo ukupnog lanca vrijednosti u kojem sudjeluju i dobavljači i kupci banke. Tehnološki razvoj, stalno nova tehnološka otkrića i njihova neposredna prim-jena i ugradnja u proizvode, usluge, organizaciju i način upravljanja te sam način života, uslovljavaju da permanentna promjena i kreiranje novog postaju jedini mogući način egzistencije.

U gore navedenim uslovima poslovanja, kao filo-zofija razmišljanja i poslovanja, sistem upravl-janja kvalitetom i procesima, postao je praktično neizbježan dio u kontinuiranom razvoju Nove Banke a.d. Banja Luka.

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Signatures removed for security reasons

This Quality Austria Certificate confirms the application

and further development of an effective

The validity of the Quality Austria Certificate will be maintained via annual surveillance audits and one renewal audit after three years.

Konrad ScheiberGeneral Manager

Quality Austria Training, Certification and Evaluation Ltd.

Vienna, 5 November 2009

Date of initial issue: 29 July 2003

Valid until: 28 July 2012

Quality Austria Training, Certification and Evaluation Ltd.awards this Quality Austria Certificate to the following organisation(s):

Registration No.: 03388/0

The current validity of the certificate is documented exclusively on the Internet under http://www.qualityaustria.com/index.php?id=798&L=1 EAC: 32.1

9A45C957-13ED-491F-AE

25-318F88E12D00

INTERNET COPY


QUALITY MANAGEMENT SYSTEMcomplying with the requirements of standard

ISO 9001:2008

Nova Banka A.D. Banja LukaBIH, Republika Srpska, 78000 Banja Luka, Kralja Alfonsa XIII 37a

Ing. Wolfgang LeitnerSpecialist representative


IQNet Partners*:AENOR Spain AFNOR Certification France AIB-Vinçotte International Belgium ANCE Mexico APCER Portugal CISQ Italy

CQC China CQM China CQS Czech Republic Cro Cert Croatia DQS Holding GmbH Germany DS Denmark ELOT Greece

FCAV Brazil FONDONORMA Venezuela HKQAA Hong Kong China ICONTEC Colombia IMNC Mexico Inspecta Certification Finland

IRAM Argentina JQA Japan KFQ Korea MSZT Hungary Nemko AS Norway NSAI Ireland PCBC Poland

Quality Austria Austria RR Russia SII Israel SIQ Slovenia SIRIM QAS International Malaysia SQS Switzerland SRAC Romania

TEST St Petersburg Russia TSE Turkey YUQS SerbiaIQNet is represented in the USA by: AFNOR Certification, CISQ, DQS Holding GmbH and NSAI Inc.

* The list of IQNet partners is valid at the time of issue of this certificate. Updated information is available under www.iqnet-certification.com

Mag. Friedrich Khuen-Belasi Authorised Representative

of Quality Austria

René Wasmer

President of IQNet

2009-11-05

2012-07-28

CERTIFICATEIQNet and Quality Austria

hereby certify that the organization

AT-03388/0

Issued on:Validity date:

Registration Number:


has implemented and maintains a

QUALITY MANAGEMENT SYSTEM

which fulfills the requirements of the following standard

ISO 9001:2008

Nova Banka A.D. Banja LukaBIH, Republika Srpska, 78000 Banja Luka, Kralja Alfonsa XIII 37a

Banks that want to build on the competitive ability of current and future markets must change the mind-set by which the bank is seen as a separate system that needs to be positioned in the market as much as possible. In today’s business environment, the bank should be seen as an open dynamic system in con-tinuous interaction with its environment and whose value chain is just one part of the entire value chain in which suppliers and customers of the bank partici-pate. Technological development, new technologi-cal discoveries and their immediate application and incorporation into products, services, organization and management, and very way of life, causes that permanent changes and creation of something new become the only possible mode of existence.

In the above mentioned business conditions, as a philosophy of thinking and doing business, quality management system and processes, have become virtually inevitable part of the continued develop-ment of the Nova Bank ad Banja Luka.

annual report 2011

4544

Društveno odgovorno poslovanje nije samo

stvaranje viška vrijednosti ili pošten i legalistički

rad, već briga prema svim segmentima društva.

Tako donacija Nove banke AD Banja Luka povodom

obilježavanja Nedelje štednje u iznosu od 2.500,00

KM upućena Dječijem domu Rada Vranješević

prikazuje najbolji primjer društveno-odgovornog

preduzeća.

* Anali Dječijeg doma Rada Vranješević

Corporate social responsibility is not only the

creation of surplus value, or fair and legalistic

work, but a concern for all segments of society.

Regarding the Savings week, Nova Bank AD

Banja Luka, donated the amount of 2,500 KM to

The Children’s Home ‘Rada Vranješević’ , which

is the best example of social responsibility of

one company.

* The records of The Children’s Home

Rada Vranješević

annual report 2011

46 47

FINANSIJSKI IZVEŠTAJI ZA GODINU KOJA SE

ZAVRŠILA 31. DECEMBRA 2010. GODINE

FINANCIAL STATEMENTS FOR THE

YEAR ENDED 31 DECEMBER 2010

48 49


Izvršili smo reviziju finansijskih izveštaja Nove banke a.d. Banja Luka (u daljem tekstu: „Banka”) koji obuhvataju bilans stanja na dan 31. decembra 2010. godine, bilans uspeha, izveštaj o promenama na kapitalu i izveštaj o novčanim tokovima za godinu koja se završila na taj dan, kao i pregled značajnih računovodstvenih politika i ostalih napomena uz finansijske izveštaje.

Odgovornost rukovodstva za finansijske izveštaje

Rukovodstvo Banke je odgovorno za pripremu i objektivno prikazivanje ovih finansijskih izveštaja u skladu sa Zakonom o računovodstvu i reviziji Republike Srpske i propisima Agencije za bankarstvo Republike Srpske, koji regulišu finansijsko izveštavanje banaka, kao i za interne kontrole koje rukovodstvo smatra neophodnim da omoguće pripremu finansijskih izveštaja koji ne sadrže materijalno značajne pogrešne iskaze, nastale usled prevare ili greške.

Odgovornost revizora

Naša je odgovornost da izrazimo mišljenje o finansijskim izveštajima, na osnovu revizije koju smo izvršili. Reviziju smo izvršili u skladu sa Međunarodnim standardima revizije. Ovi standardi nalažu da se pridržavamo etičkih normi i da reviziju planiramo i izvršimo na način koji omogućava da se, u razumnoj meri, uverimo da finansijski izveštaji ne sadrže materijalno značajne pogrešne iskaze.

Revizija obuhvata sprovođenje procedura u cilju prikupljanja revizorskih dokaza o iznosima i obelodanjivanjima u finansijskim izveštajima. Izbor revizorskih procedura zavisi od procene revizora pri čemu se uzima u obzir i ocena rizika da li finansijski izveštaji sadrže materijalno značajne pogrešne iskaze nastale usled prevare ili greške. Vršeći procenu takvog rizika, revizor razmatra i interne kontrole bitne za pripremu i objektivno prikazivanje finansijskih izveštaja, u cilju kreiranja odgovarajućih revizorskih procedura u skladu sa okolnostima, ali ne i u cilju izražavanja mišljenja o efikasnosti internih kontrola Banke. Revizija takođe uključuje ocenu opravdanosti primene odgovarajućih računovodstvenih politika i računovodstvenih procena izvršenih od strane rukovodstva, kao i ocenu opšte prezentacije finansijskih izveštaja.

Smatramo da su revizorski dokazi koje smo prikupili dovoljni i odgovarajući da obezbede osnovu za izražavanje našeg mišljenja.

We have audited the accompanying financial statements of Nova banka a.d., Banja Luka (hereinafter referred as to ”the Bank”), which comprise the balance sheet as at 31 December 2009, income statement, statement of changes in equity and cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory notes.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Law on Accounting and Auditing of the Republic of Srpska, and regulations of the Banking Agency of the Republic of Srpska, governing financial reporting of banks, and for such internal controls as management deter-mines are necessary to enable the preparation of financial statements that are free from misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International standards on auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor ’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

IZVEŠTAJ NEZAVISNOG REVIZORA AKCIONARIMA NOVE BANKE A.D. BANJA LUKA

INDEPENDENT AUDITOR’S REPORTTO SHAREHOLDERS OF NOVA BANKA A.D. BANJA LUKA

50 51


Mišljenje

Po našem mišljenju, finansijski izveštaji prikazuju objektivno i istinito finansijsko stanje Banke na dan 31. decembra 2010. godine i rezultate njenog poslovanja i novčane tokove za godinu koja se završila na taj dan, u skladu sa Zakonom o računovodstvu i reviziji Republike Srpske i propisima Agencije za bankarstvo Republike Srpske koji regulišu finansijsko izveštavanje banaka.

Bijeljina, mart 2011 Beograd, mart 2011Za Revidere d.o.o. Bijeljina za Ernst & Young Beograd d.o.o.

Rajko Radović Mirjana Kovačević Ovlašćeni revizor Ovlašćeni revizor

Opinion

In our opinion, the financial statements give a true and fair view of the financial position of the Bank as of 31 December 2010, and of its financial performance and cash flows for the year then ended, in accordance with the Law on Accounting and Auditing of the Republic of Srpska and regulations of the Banking Agency of the Republic of Srpska governing financial reporting of banks.

On behalf of Revidere d.o.o. Bijeljina On behalf of Ernst & Young Beograd d.o.o.

Rajko Radović Mirjana Kovačević Authorized auditor Authorized auditor

52 53


Banja Luka, 18. mart 2011. godine U ime Nove banke a.d. Banja Luka Direktor Mr Milan Radović

Banja Luka, 18 March 2011 On behalf of Nova banka a.d. Banja Luka General Manager Mr. Milan Radović

BILANS USPJEHA za godinu koja se završila 31. decembra 2010. godine INCOME STATEMENT for year ended 31 december 2010

54 55




BILANS STANJA na dan 31. decembra 2010. godine BALANCE SHEET for year ended 31 december 2010

56 57




IZVEŠTAJ O PROMENAMA NA KAPITALU za godinu koja se završila 31. decembra 2010. godine

STATEMENT OF CHANGES IN EQUITY for year eneded 31 December 2010

58 59


IZVEŠTAJ O TOKOVIMA GOTOVINE za godinu koja se završila 31. decembra 2010. godine

CASH FLOW STATEMENT for the year eneded 31 December 2010



Prije svega želim da vam se zahvalim na

ljubaznosti i želim da vas pohvalim za način

na koji poslujete. Uokviriću svoj komentar

rečenicom: Vaša banka, finansijska institucija,

treba da služi za primjer svima jer je pozitivno

orjentisana ka klijentu. Decentno uredan portal

i web stranica, široka mreža usluga, dosta

interesantnog sadržaja i još puno toga čini ovu

banku jedinstvenom. Hvala vam na tome i

čestitam vam od srca.

* klijent Banke

First of all I want to thank you for your kindness

and praise the way you are conducting your

affairs. I will summarize my comment into one

sentence: “Your bank, financial institution, should

serve as an example to everyone because it is

positively oriented towards the client.”

Elegantly decorated portal and web site, a broad

network of services, a lot of interesting content

and much more makes this bank unique. Thank

you and all the congratulations from my heart.

* Bank customer

60 61

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1. OSNOVNE INFORMACIJE

Rješenjem Osnovnog suda u Bijeljini, broj: Fi-598/99 izvršena je promjena upisa Export-import banke AD Bijeljina u Nova banka AD Bijeljina. Banka je u 2007. godini Rješenjem Osnovnog suda u Banja Luci prom-jenila sjedište i posluje pod nazivom Nova banka AD Banja Luka.

U decembru 2002. godine, Skupština Banke je don-ela odluku o statusnoj promeni pripajanja Agroprom Banke a.d., Banja Luka, a od 01.01.2003. godine Agroprom Banka a.d. Banja Luka posluje u sastavu Banke.

Najveći akcionar je Poteza Adriatic Fund (Napom-ena 21) sa učešćem od 35,72% u akcijskom kapitalu Banke.

Banka je registrovana u Republici Srpskoj za obavl-janje svih bankarskih poslova.

Banka je registrovana da obavlja depozitne poslove, kreditne poslove, garancijske poslove, poslove sa efektivom, devizne i menjačke poslove, emisione i depo-poslove, poslove platnog prometa, poslove posredovanja u trgovini hartijama od vrednosti, kupovinu i naplatu potraživanja i druge bankarske i finansijske poslove u skladu sa Zakonom o bankama Republike Srpske.Sedište Banke je u ulici Kralja Alfonsa XIII broj 37 A, Banja Luka.

Banka posluje preko Centrale sa sedištem u Banja Luci i deset filijala koje su locirane u Bijeljini, Banja Luci, Istočnom Sarajevu, Zvorniku, Brčkom, Trebinju, Doboju, Sarajevu, Ljubuškom i Foči i posebnog or-

1. GENERAL INFORMATION

Nova Banka a.d., Banja Luka (hereinafter referred to as: “the Bank”) was founded in October 1992, and registered with the Court Register by the Decision of the Commercial Court in Bijeljina No. Fi.-292/92 un-der the name of Eksim Banka a.d., Bijeljina. Pursuant to the Decision of the Commercial Court in Bijeljina No. Fi.-352/94 from July 1994, the Bank changed its name to Eksport-Import Banka a.d., Bijeljina, and as per the Decision of the Commercial Court in Bijeljina No. Fi.-598/99 dated 17 June 1999, the Bank officially recorded the change of its name into Nova banka a.d., Bijeljina. In 2007, pursuant to the Decision of the Commercial Court in Banja Luka the Bank moved its headquarters and started operating under the name of Nova Banka a.d. Banja Luka.

In December 2002, the Bank’s Assembly set up the Decision on the status change by acquisition of Agroprom banka a.d. Banja Luka. As of 1 January 2003, Agroprom banka a.d. Banja Luka operated as the Bank’s branch.The major shareholder of the Bank is Potesa Adriatic Fund (Note 21) with 35.72% of the share capital.

The Bank is registered in the Republic of Srpska to conduct all banking operations.

The Bank is registered to perform deposit opera-tions, credit and guarantee operations, operations with cash, foreign currency and exchange opera-tions, emission and depo-operations, clearing and settlement services, mediation in trade of securities, purchase and debt collection and other banking and financial activities in accordance with the Law on Banks of the Republic of Srpska.

The Bank’s Head Office is located in Banja Luka, 37 Kralja Alfonsa XIII St.The Bank operates through its Headquarters in Banja Luka and 10 branches located in Bijeljina, Banja Luka, Istočno Sarajevo, Zvornik, Brčko, Trebinje, Doboj, Sa-rajevo, Ljubuška, Foča and through special depart-ment for trading with securities-Broker Nova.

The Bank’s operations are organized in divisions, de-partments and sectors.

As of 31 December 2010 the Bank had 414 employ-ees (as of 31 December 2009: 408 employees).

2. ACCOUNTING POLICIES

2.1. Basis of preparation of the financial statements

The Bank’s financial statements for the year ended 31 December 2010 are prepared in accordance with the regulations of the Republic of Srpska, based on the Law on Accounting and Auditing (“The Official Gazette of the Republic of Srpska, No. 67/2005 and No. 36/2009), the Law on Banks of the Republic of Srpska, the Regulations of the Banking Agency of the Republic of Srpska and the Central Bank of Bosnia and Herzegovina and other regulations in the Re-public of Srpska, which regulate banks’ operations and financial reporting.

Pursuant to the Law on Accounting and Auditing of the Republic of Srpska, all legal entities located in the Republic of Srpska are obligated to apply In-ternational Accounting Standards (IAS), International

ganizacionog dela za trgovanje hartijama od vred-nosti – Broker Nova.Poslovi Banke podeljeni su po sektorima, samostal-nim odeljenjima i odeljenjima.

Na dan 31.12.2010. godine Banka je imala 414 rad-nika (31.12.2009. godine: 408 radnika).

2. RAČUNOVODSTVENE POLITIKE

2.1. Osnove za sastavljanje i prikazivanje finansijskih izveštaja

Finansijski izveštaji Banke na dan 31.12.2010. go-dine sastavljeni su u skladu sa važećim propisima Republike Srpske (RS) zasnovanim na Zakonu o računovodstvu i reviziji Republike Srpske („Službeni Glasnik Republike Srpske“ br. 67/09 i br. 36/2009), Zakonom o bankama Republike Srpske, regulativi Agencije za bankarstvo Republike Srpske, propisima Centralne banke Bosne i Hercegovine i ostalim pro-pisima u Republici Srpskoj, koji regulišu poslovanje banaka i finansijsko izveštavanje.

Propisi iz oblasti računovodstva i revizije, koji se u smislu Zakona o računovodstvu i reviziji primenjuju u Republici Srpskoj podrazumevaju Međunarodne računovodstvene standarde (MRS), Međunarodne standarde finansijskog izveštavanja (MSFI), Međunarodne standarde revizije (IAS), Kodeks etike za profesionalne računovođe i prateća uput-stva, objašnjenja i smernice koje donosi Odbor za Međunarodne računovodstvene standarde (IASB) i sva prateće uputstva, objašnjenja i smernice koje donosi Međunarodna Federacija računovođa (IFAC).

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Banka je u sastavljanju prezentovanih finansi-jskih izveštaja primenjivala računovodstvene poli-tike obrazložene u Napomeni 2.3., zasnovane na računovodstvenim propisima i podzakonskim aktima Republike Srpske, regulativi Agencije za bankarstvo Republike Srpske i poreskim propisima Republike Srpske .

Finansijski izveštaji Banke za 2010. godinu prikazani su u formatu propisanom Pravilnikom o obrascima i sadržini pozicija u obrascima finansijskih izveštaja za banke.

U 2009. godini donet je Pravilnik o kontnom okviru i sadržini računa u kontnom okviru za banke i druge finansijske organizacije čija je primena od 1. januara 2010. godine. Pravilnikom je propisano da se stanje i promene na sredstvima, izvorima sredstava, pri-hodima i rashodima, kao i obračun finansijskog re-zultata banaka evidentira u skladu sa Međunarodnim računovodstvenim standardima i Međunarodnim standardima finansijskog izveštavanja. Datum preknjižavanja na novi kontni okvir je bio 1. januar 2010. godine, međutim, zbog uporedivosti podataka, banke su bile obavezne da sastave izveštaje prema novom kontnom okviru i novim obrascima Ministar-stva finansija Republike Srpske i sa 31.12.2009. go-dine, na osnovu Naredbe Ministra finansija Republike Srpske od 12. januara 2010. što je Banka i učinila.

Primene novog Kontnog okvira u skladu sa propi-sima Ministarstva finansija, Agencija za bankarstvo Republike Srpske je sa 31.12.2010.godine izvršila izmenu dela podzakonskih akata koji se odnose na obračun rezervisanja i sistem izvještavanja. Naime, pored vođenja knjiga u skladu sa Zakonom

o računovodstvu i reviziji Republike Srpske, banka je obavezna da u skladu sa Odlukama Agencije za bankarstvo formira rezervisanje za opšte i posebne kreditne gubitke kao i da izveštava Agenciju u skladu sa Odlukom o obliku i sadržaju izveštaja koje banke dostavljaju Agenciji za bankarstvo.

Imajući u vidu razlike između zahteva Međunarodnih standarda finansijskog izveštavanja i određenih zahteva računovodstvenih propisa Republike Srpske i regulative Agencije za bankarstvo Republike Srpske, rukovodstvo Banke ne može dati izjavu o potpunoj usaglašenosti finansijskih izveštaja Banke sa zahte-vima svih standarda i interpretacija izdatih od strane Odbora za međunarodne računovodstvene stand-arde koji čine Međunarodne standarde finansijskog Izveštavanja.

Finansijski izveštaji su pripremljeni u skladu sa koncep-tom istorijskog troška, izuzev za hartije od vrednosti kojima se trguje i hartije od vrednosti raspoložive za prodaju, koje su vrednovane po tržišnoj vrednosti. Finansijski izveštaji su prezentovani u Konvertibilnim Markama Bosne i Hercegovine (KM), a sve iskazane numeričke vrednosti prikazane su u hiljadama, osim ako je drugačije navedeno.

Financial Reporting Standards (IFRS), Code of eth-ics for professional accountants and accompanying instructions, explanations and guidelines defined by International Accounting Standards Board (IASB), and all accompanying instructions, explanations and guidelines defined by the International Federation of Accountants (IFAC).

The Bank prepared its financial statements apply-ing accounting policies explained in Note 3. The accounting policies are based on accounting regu-lations and by-laws of the Republic of Srpska, regula-tions of the Banking Agency of the Republic of Srpska and tax regulations in the Republic of Srpska which differ from requirements of International Account-ing Standards and International Financial Reporting Standards.

Financial statements of the Bank are prepared by us-ing the historical cost method, except for securities available for sale, which are valued using fair value method.

In 2009 rulebook was passed on the account frame-work and content of accounts in the Chart of Ac-counts for banks and other financial institutions which came into force on 1 January 2010. The new rulebook stipulates that the balance and changes in assets, sources of funds, revenues and expenditures, as well as the calculation of banks’ financial results should be recorded in accordance with The Interna-tional Accounting Standards and International Finan-cial Reporting Standards. The date of transferring to the new chart of accounts was the 1 January 2010, however, because of comparability of data, banks were required to draft reports under the new chart of

accounts and new forms of the Ministry of Finance of the Republic of Srpska also as at 31 December 2009.

On 12 January 2010 Finance Minister of Republic of Srpska issued „Decision of the submission of the general financial statements for the period 1 Janu-ary-31 December 2009“ that was published in the Official Gazette No. 4/2010 from 27 January 2010. In above mentioned Decision it is defined the obliga-tion for preparing financial statements according to regulations on Accounting and Auditing, and on the forms that are prescribed in the rulebook on con-tent and form of Financial Statements. According to aforementioned decision, the Bank prepared and de-livered Financial statements (Balance sheet, Income statement, Statement of changes in equity, Cash flow statement and Notes to financial statements) to the Agency for the intermediation, information and fi-nancial services.

Despite the implementation of the new chart of ac-counts in accordance with the regulations of the Min-istry of Finance, all by-laws of the Banking Agency remained in effect. In addition to keeping the books in accordance with IAS, the bank is obliged to es-tablish provisions for general and specific loan loss provisions and to notify the Agency in accordance with the Decision on the form and content of reports submitted by banks to the Banking Agency.

Given the differences between the requirements of International Financial Reporting Standards and cer-tain requirements of accounting rules and regulations of the Banking Agency of Republic of Srpska, the Bank cannot make a declaration of full compliance of the financial statements with the requirements of all

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2.2. Značajna računovodstvena rasuđivanja i procene

U procesu primene računovodstvenih politika Banke, menadžment se koristio prosuđivanjem i procena-ma u određivanju iznosa iskazanih u finansijskim izveštajima. Najznačajnija procenjivanja i upotrebe su:

Troškovi obezvređenja datih kredita i avansa

Banka sagledava evidenciju svojih problematičnih zajmova i drugih plasmana na svaki izveštajni da-tum kako bi procenila da li ispravke vrednosti za obezvređenja treba da budu iskazane u bilansu us-peha. Konkretno, menadžment vrši procenu iznosa i vremenskog rasporeda budućih novčanih tokova kada određuje iznos potrebnih ispravki vrednos-ti. Takve procene se baziraju na pretpostavkama o određenom broju faktora i stvarni rezultati se mogu razlikovati, što može rezultirati buduće promene tih ispravki vrednosti.

Pored pojedinačnih ispravki vrednosti za značajne kredite i plasmane, Banka takođe formira kolektivne (grupne) ispravke vrednosti za izloženosti rizicima koje, nisu identifikovane kao one koje zahtevaju posebno iskazivanje, nose veći rizik povećanja u odnosu na prvobitnu procenu. Procene ovih ispravki uzimaju u obzir faktore kao što su svako povećanje rizika zemlje, industrija, zastarevanje tehnologije, kao i identifikovane strukturne slabosti ili pogoršanje novčanih tokova.

Dugoročne beneficije za zaposlene

Troškovi dugoročnih beneficija za zaposlene se određuju korišćenjem aktuarske valuacije. Ona uključuje predviđanje diskontnih stopa, budućih povećanja plata i budućih stopa fluktuacije. S obzi-rom da je reč o dugoročnim predviđanjima, ovakve procene su dosta neprecizne.

Utvrđivanje fer vrednosti finansijskih instrumenata

Fer vrednost finansijskih instrumenata kojima se trgu-je na aktivnom tržištu na dan bilansa stanja se bazira na kotiranim tržišnim cenama ponude ili tražnje, bez umanjenja po osnovu transakcionih troškova. Fer vrednost finansijskih instrumenta koji nisu koti-rani na aktivnom tržištu se određuje korišćenjem odgovarajućih tehnika vrednovanja, koje obuhvataju tehnike neto sadašnje vrednosti, poređenje sa sličnim instrumentima za koje postoje tržišne cene i ostale relevantne modele.

Kada tržišni inputi nisu dostupni, oni se određuju procenjivanjima koja uključuju određeni stepen rasuđivanja u proceni “fer “ vrednosti. Modeli procene odslikavaju trenutno stanje na tržištu na datum me-renja i ne moraju predstavljati uslove na tržištu pre ili nakon datuma merenja. Stoga se tehnike vredno-vanja revidiraju periodično, kako bi na odgovarajući način odrazile tekuće tržišne uslove.

standards and interpretations issued by the Interna-tional Accounting standards Board.Financial statements of the Bank are prepared by us-ing the historical cost method, except for securities available for sale, which are valued using fair value method.

The Bank keeps and prepares the financial statements expressed in Convertible Marks (KM), official report-ing and functional currency in the Republic of Srp-ska. The Bank’s financial statements are expressed in thousands of KM, except when otherwise indicated.

2.2. Significant accounting judgements and estimates

In the process of applying the Bank’s accounting poli-cies, management has exercised its judgments and made estimates in determining the amounts recog-nized in the financial statements. The most significant use of judgments and estimates are as follows:

Impairment losses on loans and advances

The Bank reviews its problem loans and other place-ments at each reporting date to assess whether an allowance for impairment should be recorded in the income statement. In particular, judgment by man-agement is required in the estimation of the amount and timing of future cash flows when determining the level of allowance required. Such estimates are based on assumptions about a number of factors and ac-tual results may differ, resulting in future changes to the allowance.

In addition to specific allowances against individually significant loans and placements, the Bank also forms a collective (group) impairment allowance against exposures which, although not specifically identified as requiring a specific allowance, have a greater risk of default than when originally granted. This estimate takes into consideration factors such as any dete-rioration in country risk, industry, and technological obsolescence, as well as identified structural weak-nesses or deterioration in cash flows.

Long-term employee benefits

The cost of the long-term employee benefits is de-termined using actuarial valuation. The actuarial val-uation involves making assumptions about discount rates, future salary increases, and future turnover rates. Due to the long term nature of these plans, such estimates are subject to significant uncertainty.

Financial instruments fair value determination

Fair value of financial instruments, traded in an active market on day of balance sheet, is based on listed market prices, without reduction based on transac-tion costs. Fair value of financial instruments that are not listed on an active market, is determinate using appropriate valuation technique, including net cur-rent value technique, comparison with similar instru-ments with market value and other relevant models. In the cases when market inputs are not available, they are determined by evaluation of fair value. Eval-uation models reflect current state on the measure-ment date and they do not have to represent market condition before and after the date of measurement. Therefore, valuation techniques are reviewed peri-odically, in order to reflect properly current market condition.

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2.3. Pregled značajnih računovodstvenih politika

Priznavanje prihoda i rashoda od kamata i naknada

Prihodi i rashodi od kamata i drugi operativni pri-hodi i rashodi se razgraničavaju. Prihodi i rashodi od kamata se priznaju za sve finansijske instrumente kod kojih se koristi efektivni prinosni metod.

Rezervisanja za sumnjiva potraživanja od kamate se vrednuju na bazi mogućnosti povraćaja i naplate, i deo su rezervisanja za sumnjiva i loša potraživanja. Kamata se suspenduje za zajmove za koje je pokre-nut postupak pred sudom ili za zajmove koji su klasifikovani kao sporna ili nenaplativa potraživanja, i isključena je iz prihoda od kamate. Kamata se ot-pisuje do iznosa za koje se smatra da ne postoji mogućnost oporavka i povraćaja.

Potraživanja i obaveze po osnovu naknada se priznaju kada se naplate ili se razgraničavaju. Na-knade i provizije se uglavnom sastoje od naknada po poslovima unutrašnjeg i ino platnog prometa, date kredite i garancije i druge usluge koje Banka pruža.

Preračun stranih valuta

Stavke bilansa stanja i bilansa uspeha u finansi-jskim izveštajima su evidentirane u valuti primarnog ekonomskog okruženja (funkcionalnoj valuti). Kao što je obelodanjeno u Napomeni 2., finansijski izveštaji su izraženi u KM, koja je izveštajna i funkcionalna valuta Banke.

Transakcije u stranoj valuti preračunavaju se u KM po zvaničnom srednjem kursu Centralne banke na dan transakcije i na dan bilansiranja.

Monetarna sredstva i obaveze iskazane u stranoj va-luti, na dan bilansa stanja, preračunati su u KM po zvaničnom srednjem kursu Centralne banke Bosne i Hercegovine važećem na dan bilansa stanja. Sve kursne razlike koje nastaju prilikom preračuna finan-sijskih sredstava i obaveza iskazanih u stranoj valuti se priznaju u okviru bilansa uspeha.

Preuzete i potencijalne obaveze iskazane u stranoj valuti su preračunate u KM po zvaničnom srednjem kursu Centralne banke Bosne i Hercegovine na dan bilansa stanja.Plasmani u KM sa ugovorenom valutnom klauzulom su preračunati u KM po zvaničnom kursu na dan bi-lansa stanja. Prihodi i rashodi koji nastaju prilikom preračunavanja sredstava korišćenjem ugovorene valutne klauzule priznaju se u okviru bilansa uspeha.

Finansijski instrumenti

(I) Inicijalno priznavanje finansijskih instrumenata

Finansijska sredstva i obaveze se priznaju u bilansu stanja Banke na dan kada Banka postane druga stra-na u ugovoru za određeni finansijski instrument.

Svi finansijski instrumenti se prilikom početnog priz-navanja vrednuju po fer vrednosti (uglavnom jedna-koj iznosu koji se plati ili primi) korigovanoj za nastale zavisne troškove kupovine ili njihovog emitovanja, izuzev finansijskih sredstava i obaveza koje su vred-novane po fer vrednosti kroz bilans uspeha.

2.3. Summery of significant accounting policies

Interest and fee income and expense

Interest income and expenses and other operating income and expenses are recognized on an accrual basis. Interest income and expenses are recognized for all interest bearing financial instruments using the effective yield method.

Provisions for doubtful interest are evaluated based upon probable recoverability and are a part of provi-sion for bad and doubtful debts. Interest is suspend-ed for all loans that are presented at court or are deemed uncollectible, and deducted from interest income. Interest accrued is written off to the extent that there is no realistic prospect of recovery.

Fees receivable and payable are recognized when earned or incurred. Fees and commissions consist mainly of fees for international payments, guarantees given and other Bank services.

Foreign currency translation

Balance sheet and income statement items stated in the financial statements are recorded using cur-rency of primary economic environment (functional currency). As disclosed in Note 2 the financial state-ments are stated in thousands of Convertible Marks (KM), which represents functional and official report-ing currency of the Bank.

Foreign currency transactions are translated into KM at the official exchange rates ruling at the date of each transaction.

Monetary assets and liabilities denominated in for-eign currencies are translated into KM at the official exchange rates of the Central Bank of Bosnia and Herzegovina prevailing at the balance sheet date. Foreign exchange gains or losses arising upon the translation of financial assets and liabilities are cred-ited or debited, as appropriate, to the income state-ment.

Commitments and contingencies denominated in foreign currency are translated into KM at the Central Bank of Bosnia and Herzegovina’s official rate pre-vailing at the balance sheet date.

Loans and advances in KM, with contracted foreign currency rate clause, are translated into KM at the of-ficial exchange rates prevailing at the balance sheet date. Income or expenses arising upon the transla-tion of assets by applying contractual foreign cur-rency clause are credited or debited, as appropriate, to the income statement.

Financial instruments

(I) Initial recognition of financial instruments

Financial assets and financial liabilities are recognized in the Bank’s balance sheet on the date upon which the Bank becomes counterparty to the contractual provisions of a specific financial instrument.

All financial instruments are initially recognized at fair value (usually equal to the consideration paid or re-ceived) including any directly attributable incremen-tal costs of acquisition or issue, except for financial assets and financial liabilities at fair value through profit and loss.

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Redovan način kupovine ili prodaje je kupovina ili prodaja finansijskih sredstava koja zahteva prenos sredstava u roku koji je utvrđen propisima ili kon-vencijama na datom tržištu. Sve kupovine ili prodaje na redovan način se priznaju na datum trgovanja, odnosno datum poravnanja.

Banka klasifikuje finansijska sredstva u sledeće kat-egorije: finansijska sredstva koja se vrednuju po fer vrednosti kroz bilans uspeha, kredite i ostale plas-mane, hartije od vrednosti koje se drže do dospeća i hartije od vrednosti raspoložive za prodaju. Menadžment Banke vrši klasifikaciju finansijskih sred-stava prilikom početnog priznavanja.

(II) Finansijska sredstva koja se vrednuju po fer vrednosti kroz bilans uspeha

Ova kategorija obuhvata dve pod-kategorije: finan-sijska sredstva namenjena trgovanju i ona koja na početku se vrednuju po fer vrednosti kroz bilans us-peha. Finansijska sredstva namenjena trgovanju su stečena prvenstveno u svrhe prodaje u kratkom roku da bi se iskoristile kratkoročne fluktuacije na tržištu. Ova sredstva Banka priznaje po fer vrednosti u ok-viru bilansa uspeha. Dobici i gubici od finansijskih sredstava namenjenih trgovanju se priznaju u bilansu uspeha.

(III) Obezvređenje finansijskih sredstava

Svi dati krediti i zajmovi se priznaju kada je novac prosleđen klijentima koji novac pozajmljuju. Zajmovi se vrednuju po amortizacionom trošku korišćenjem efektivnog prinosnog metoda, po neto vrednosti na-kon otpisa i ispravki vrednosti zbog obezvređenja.

Banka ugovara valutnu klauzulu sa korisnicima kred-ita. Krediti i zajmovi u KM sa ugovorenom valutnom klauzulom, npr. sa indeksom vezanim za kurs evra, ponovo se vrednuju u skladu sa odredbama ugovo-ra. Prihodi i rashodi koji proizilaze iz primene valutne klauzule se iskazuju u bilansu uspeha, kao dobici/gu-bici na kursnim razlikama.

U skladu sa internom metodologijom, Banka na dan svakog bilansa stanja procenjuje da li postoje objek-tivni dokazi obezvređenja nekog finansijskog sredstva ili grupe finansijskih sredstava. Smatra se da je finan-sijsko sredstvo ili grupa sredstava obezvređeni ako, i samo ako, postoje objektivni dokazi obezvređenja koji proizilaze iz jednog ili više događaja nastalih na-kon inicijalnog priznavanja sredstva i taj događaj (ili događaji) utiče na procenjene buduće tokove goto-vine finansijskog sredstva ili grupe finansijskih sred-stava koji se pouzdano mogu proceniti.

Dokazi koje Banka koristi da utvrdi da li postoje objek-tivni dokazi o obezvređenju uključuju: docnje pri ser-visiranju kamate i/ili glavnice, indikacije da se dužnik suočava sa značajnim finansijskim poteškoćama, uključujući verovatnoću da će doći do stečaja ili neke druge finansijske reorganizacije i kada dostupni po-daci pokazuju da je došlo do merljivog smanjenja budućih tokova gotovine, kao što su promene u ok-viru neizmirenih obaveza ili ekonomskih uslova koji su u korelaciji sa odstupanjima od ugovorenih uslova.

U skladu sa usvojenom internom metodologijom, Banka prvo vrši individualnu procenu da utvrdi da li postoje objektivni dokazi o obezvređenju za svako fi-nansijsko sredstvo koje je individualno značajno, kao i individualnu ili grupnu procenu za finansijska sred-

Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the timeframe generally established by regu-lation or convention in the market place. All regular way purchases and sales of financial assets are recog-nized on the settlement date, i.e. the date the assets is delivered to the counterparty.

The Bank classifies its financial assets in the follow-ing categories: financial assets at fair value through profit or loss; loans and receivables; held-to-maturity investments; and available-for-sale financial assets. Management of the Bank determines the classifica-tion of its investments on initial recognition.

(II) Financial assets at fair value through profit or loss

This category includes two sub-categories: financial assets held for trading and assets designated at fair value through profit or loss at inception. Financial as-sets held for trading have been primarily acquired for generating profit from short-term price fluctuations. Trading financial assets are recorded in the balance sheet at fair value. Gains or losses on financial assets held for trading are recognized in the income state-ment.

(III) Impairment of Financial Assets

All loans and advances are recognized when cash is advanced to borrowers. Loans are measured at am-ortized cost using the effective yield method, net of any amounts written off and allowance for loan im-pairment.

The Bank negotiates a foreign currency clause with the beneficiaries of the loans. Loans and advances in KM with contracted foreign currency clause, i.e. with index linked to the KM-euro foreign exchange rate, are revalued in accordance with the contract signed for each of the loans. Income and expenses result-ing from the application of foreign currency clause are recorded in the Income statement, as exchange gains/losses.

In accordance with the Bank’s internal policy, the Bank assesses at each balance sheet date whether there is any objective evidence that a financial asset or a group of financial assets is impaired. Impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a ‘loss event’) and that loss event (or events) has an impact on the estimated future cash flows of the fi-nancial asset or group of financial assets that can be reliably estimated.

Indicators which the Bank uses to determine whether there is objective evidence of an impairment loss in-clude the following: defaults in contractual payments of principal or interest, borrower is experiencing sig-nificant financial difficulty, including the probability of bankruptcy or other financial reorganization, breach of loan covenants or conditions, deterioration of the borrower ’s competitive position, deterioration in the value of collateral and other observable data indicat-ing that there is a measurable decrease in the esti-mated future cash flows, such as economic condi-tions that correlate with defaults.

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stva koja nisu individualno značajna. Ukoliko Banka utvrdi da ne postoje objektivni dokazi o obezvređenju za finansijska sredstva za koja je vršena individualna procena, bilo da su sredstva individualno značajna ili ne, Banka svrstava takva sredstva u grupu finansi-jskih sredstava sa sličnim karakteristikama kreditnog rizika i vrši grupnu procenu obezvređenja. Sredstva za koja se vrši individualna procena obezvređenja i za koja se priznaje gubitak po osnovu obezvređenja nisu uključena u grupnu procenu obezvređenja.

Ukoliko postoje objektivni dokazi da je došlo do gu-bitka usled obezvređenja, iznos gubitka se vrednuje kao razlika između knjigovodstvene vrednosti sredst-va i njegove procenjene nadoknadive vrednosti. Pro-cenjena nadoknadiva vrednost je sadašnja vrednosti budućih tokova gotovine diskontovana prvobitnom efektivnom kamatnom stopom sredstva. Obračun sadašnje vrednosti procenjenih budućih tokova go-tovine finansijskog sredstva obezbeđenog kolatera-lom reflektuje tokove gotovine koji mogu nastati iz procesa realizacije kolaterala, umanjene za troškove realizacije i prodaje kolaterala, bez obzira da li je verovatno da će doći do procesa realizacije kolat-erala ili ne.

Knjigovodstvena vrednost sredstva se smanjuje korišćenjem računa ispravke vrednosti i iznos gubitka se priznaje na teret bilansa uspeha. Ukoliko kredit ima varijabilnu kamatnu stopu, diskontna stopa za utvrđivanje gubitka usled obezvređenja je tekuća efektivna stopa utvrđena ugovorom.

U svrhe grupne procene obezvređenja, finansijska sredstva se grupišu na osnovu internog sistema klasi-fikacije koji Banka koristi uzimajući u obzir karakteris-

tike kreditnog rizika kao što su vrsta plasmana, vrste kolaterala, postojanje dospelih potraživanja, dani kašnjenja i ostale relevantne faktore.

Budući tokovi gotovine koji se odnose na grupu fi-nansijskih sredstava koji su predmet grupne procene obezvređenja se procenjuju na osnovu istorijskih iskustava o gubicima po osnovu sredstava sa sličnim karakteristikama kreditnog rizika. Istorijska iskustva se koriguju na osnovu dostupnih tekućih podataka kako bi se odrazili efekti tekućih uslova koji nisu im-ali uticaja na godine na kojima se zasniva istorijsko iskustvo, kao i da bi se uklonili efekti uslova koji su postojali tokom istorijskog perioda. Procene prom-ena budućih tokova gotovine odražavaju i u saglas-nosti su sa promenama u relevantnim dostupnim podacima iz godine u godinu (kao što su promene stopa nezaposlenosti, cena nekretnina, cena robe, platežne moći ili ostalih faktora koji imaju uticaj na stvaranje gubitka u okviru grupe i njihove magni-tude).

Metodologija i pretpostavke koji se koriste za pro-cenu budućih tokova gotovine se redovno pregleda-ju da bi se smanjile razlike između procenjenih iznosa i stvarnog iskustva po osnovu gubitka.

Gubici usled obezvređenja kredita i plasmana i ostalih finansijskih sredstava vrednovanih po amortizovanoj vrednosti se evidentiraju u bilansu uspeha. Krediti i sa njima povezana ispravka vrednosti se u potpunosti isknjižavaju kada ne postoje realni izgledi da će sred-stva u budućnosti biti nadoknađena, u skladu sa od-lukom Uprave ili Nadzornog odbora Banke.Ukoliko, tokom narednog perioda, dođe do sman-jenja ili povećanja iznosa priznatog gubitka usled obezvređenja, koje nastaje kao posledica ne-

In accordance with the adopted internal policy, the Bank first assesses whether objective evidence of im-pairment exists individually for financial assets that are individually significant, and individually or col-lectively for financial assets that are not individually significant. If the Bank determines that no objective evidence of impairment exists for an individually as-sessed financial asset, whether significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics and collectively as-sesses them for impairment. Assets that are individu-ally assessed for impairment and for which an impair-ment loss is or continues to be recognized are not included in a collective assessment of impairment.

If objective evidence of impairment exists, impair-ment loss is measured as the difference between the carrying amount of loan and its estimated recover-able amount. The estimated recoverable amount is the present value of the expected future cash flows, discounted at the financial asset’s original effective interest rate. The calculation of the present value of the estimated future cash flows of a collateralized fi-nancial asset reflects the cash flows that may result from foreclosure less costs for obtaining and selling the collateral. The carrying amount of the loan is re-duced through the use of allowance account and the amount of the impairment loss is recognized in the income statement. If a loan has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For the purpose of a collective evaluation of impair-ment, financial assets are grouped on the basis of similar credit risk characteristics and the Bank’s in-

ternal grading system by asset type, collateral type, past-due status and other relevant factors.

Future cash flows for a group of financial assets that are collectively evaluated for impairment are estimat-ed on the basis of historical loss experience for assets with credit risk characteristics similar to those in the group. Historical loss experience is adjusted on the basis of current observable data to reflect the effects of current conditions that did not affect the years on which the historical loss experience is based and to remove the effects of conditions in the historical pe-riod that do not currently exist.

Estimates of changes in future cash flows reflect, and are directionally consistent with, changes in related observable data from year to year (such as changes in unemployment rates, property prices, commod-ity prices, payment status, or other factors that are indicative of incurred losses in the group and their magnitude).

The Bank regularly reviews the methodology and as-sumptions used for estimating future cash flows in order to reduce any differences between loss esti-mates and actual loss experience.

Impairment losses on loans and advances and other financial assets carried at amortized cost are charged to the income statement. A write off is made when all or part of a claim is deemed uncollectible, pursuant to a court decision, or based on decisions made by the Shareholders’ Assembly or the Board of directors.

If, in a subsequent period, the amount of the impair-ment loss decreases and the decrease can be related

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kog događaja koji se desio nakon ranije priznatog obezvređenja, prethodno priznat gubitak po osnovu obezvređenja se povećava ili smanjuje korigovanjem računa ispravke vrednosti. Ako se neki budući otpis kasnije povrati, taj povraćaj se evidentira u okviru bi-lansa uspeha.

(IV) Materijalna sredstva primljena po osnovu naplate potraživanja

Banka je došla u vlasništvo materijalnih sredstava po osnovu naplate potraživanja, realizacijom zaloge nad plasmanima. Materijalna sredstva primljena po osno-vu naplate potraživanja se vrednuju po fer vrednosti.

U skladu sa Odlukom Agencije za bankarstvo Re-publike Srpske materijalne vrednosti koje ne proda u roku od 12 meseci od dana preuzimanja, Banka vrednost istih svodi na 1 KM (tehničku vrijednosti), a efekte svođenja evidentira kroz bilans uspjeha.

(V) Hartije od vrednosti raspoložive za prodaju

Hartije od vrednosti za koje se planira da se drže u neodređenom vremenskom periodu, ali mogu biti prodate usled problema sa likvidnošću i ili prome-na kamatnih stopa, kursa ili cene kapitala klasifikuju se kao raspoložive za prodaju. Hartije od vrednosti raspoložive za prodaju čine instrumenti kapitala ba-naka i drugih pravnih lica.

Nakon početnog vrednovanja hartije od vrednosti raspoložive za prodaju se vrednuju po fer vred-nosti. Fer vrednost hartija na tržištu zasnovana je na trenutnim cenama ponude. Nerealizovani gubici i dobici se priznaju direktno u korist ili na teret ka-

pitala u okviru Revalorizacionih rezervi. Kada dođe do otuđenja sredstava, akumulirani gubici ili dobici, prethodno priznati u okviru kapitala, se priznaju u korist ili na teret bilansa uspeha u okviru prihoda ili rashoda. Kamata stečena tokom držanja finansi-jskih sredstava raspoloživih za prodaju je uključena u prihode od kamata korišćenjem metoda efek-tivne kamatne stope. Instrumenti kapitala za koje se ne može odrediti cena na tržištu, niti im se nekim drugim metodom može odrediti fer vrednost, vred-nuju se po nabavnoj vrednosti umanjenoj za eventu-alna obezvređenja.

Učešća u kapitalu drugih pravnih lica koja nemaju koti-ranu tržišnu cenu na aktivnom tržištu i za koje su os-tali metodi razumnog procenjivanja neodgovarajući, izuzeta su od vrednovanja po tržišnoj vrednosti i iskazuju se po nabavnoj vrednosti, umanjenoj za is-pravku vrednosti.

Kada su u pitanju učešća u kapitalu i ostale hartije od vrednosti raspoložive za prodaju, Banka na dan bilansa stanja vrši procenu da li postoje objektivni dokazi da je jedno ili više ulaganja obezvređeno. U slučaju učešća u kapitalu drugih pravnih lica klasi-fikovanih kao raspoloživih za prodaju, u objektivne dokaze se svrstavaju značajan ili prolongiran pad fer vrednosti ulaganja ispod nabavne vrednosti.

Kada postoje dokazi o obezvređenju, kumulativni gubitak, vrednovan kao razlika između nabavne cene i tekuće fer vrednosti, umanjen za bilo koji gubitak usled obezvređenja tog ulaganja, koje je prethodno priznato u na teret bilansa uspeha, se uklanja iz ka-pitala i priznaje se na teret bilansa uspeha. Ispravke vrednosti po osnovu obezvređenja učešća u kapitalu

objectively to an event occurring after the impair-ment was recognized, the previously recognized im-pairment loss is reversed by adjusting the allowance account. The amount of the reversal is recognized in the income statement.

(IV) Material assets obtained through collection of receivables

The Bank acquired fixed assets through the enforce-ment of security over loans and advances. Material assets obtained through collection of receivables are measured at fair value less cost to sell.

In accordance with Decision of Banking agency of Republic of Srpska, tangible assets not sold within 12 months, from the moment of takeover, Banke reduce their value at 1 KM (technical value), and reducement effects record in income statement.

(V) Securities available-for-sale

Securities intended to be held for an indefinite period of time, which may be sold in response to needs for liquidity or changes in interest rates, exchange rates or equity prices are classified as “available-for-sale”. Available-for-sale securities comprise equity instru-ments of banks and other legal entities.

After initial measurement, securities classified as available-for-sale are subsequently measured at fair value. Fair values of securities on stock market are based on current prices of supply. Unrealized gains and losses are recognized directly in equity (within revaluation reserves), until the financial asset is derecognized or impaired. At this time, the cumula-

tive gain or loss previously recognized in equity is recognized in profit or loss. However, interest calcu-lated using the effective interest method and foreign currency gains and losses on monetary assets clas-sified as available-for-sale are recognized in the in-come statement. Equity instruments that do not have a quoted market price in an active market and for which other methods of reasonably estimating fair value are inappropriate and unworkable, are meas-ured at cost, less any allowance for impairment.

Equity shares of other legal entities without listed market price, for which other methods of reasonable evaluation inappropriate, are excluded from market valuation and are expressed according their acquisi-tion value reduced for accumulated depreciation.

The Bank assesses at each balance sheet date wheth-er there is objective evidence that a financial asset or a group of financial assets is impaired. If any such evidence exists for available-for-sale financial assets, the cumulative loss – measured as the difference be-tween the acquisition cost and the current fair val-ue, less any impairment loss on that financial asset previously recognized in the income statement – is removed from equity and recognized in the income statement. Impairment losses recognized in the in-come statement on equity instruments are not re-versed through the income statement, increases in their fair value after impairment are recognized in directly in equity.

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se ne ukidaju preko bilansa uspeha, već se povećanje fer vrednosti, nakon priznatog obezvređenja, prizna-je direktno u korist kapitala. Ispravke vrednosti po os-novu obezvređenja učešća u kapitalu, koja se ne koti-raju na aktivnom tržištu i čija se fer vrednost ne može pouzdano utvrditi, se procenjuju kao razlika između njihove knjigovodstvene vrednosti i sadašnje vred-nosti očekivanih budućih tokova gotovine, priznaju se na teret bilansa uspeha i ne ukidaju do prestanka priznavanja sredstava.

(VI) Reprogramirani krediti

Banka radije reprogramira kredite nego što reali-zuje sredstva obezvređenja ukoliko ponovna ocena boniteta klijenta to dozvoljava. To može da podra-zumeva produženje roka otplate kao i nove uslove kreditiranja. Nakon izmene uslova, ne smatra se da je kredit dospeo. Rukovodstvo kontinuirano kontroliše reprogramirane kredite kako bi se osiguralo ispun-jenje svih kriterijuma, kao i budućih plaćanja. I dalje se vrši individualna ili grupna procena obezvređenja, primenom prvobitne efektivne kamatne stope.

(VII) Depoziti drugih banaka i komitenata

Svi depoziti drugih banaka i komitenata se inicijalno priznaju po fer vrednosti, osim za finansijske obaveze koje se prikazuju kroz bilans uspeha. Nakon inicijal-nog vrednovanja, depoziti na koje se plaća kamata se vrednuju po amortizacionom trošku, korišćenjem metode efektivne kamatne stope.

(VIII) Netiranje finansijskih instrumenata

Finansijska sredstva i finansijske obaveze se mogu netirati i prikazati u neto iznosu u bilansu stanja, ako i samo ako Banka ima zakonsko pravo prebijanja priznatih iznosa sredstava i obaveza i ukoliko nam-erava da izvrši izmirenje u neto iznosu ili da istovre-meno realizuje sredstvo i izmiri obavezu.

(IX) Izdati finansijski instrumenti i finansijske obaveze

Izdati finansijski instrumenti ili njihove komponente se klasifikuju kao obaveze kada suština ugovornog odnosa ukazuje da Banka ima obavezu ili da isporuči gotovinu ili neko drugo finansijsko sredstvo imaocu, ili da ispuni obavezu na drugačiji način od razmene gotovine ili drugog finansijskog sredstva za fiksan broj sopstvenih akcija. Takvi instrumenti uključuju iznose koji se duguju državi, kreditnim instituci-jama, klijentima, kao i preferencijalne akcije. Nakon početnog priznavanja izdati finansijski instrumenti i ostala pozajmljena sredstva se naknadno vrednuju po amortizovanoj vrednosti korišćenjem metode efektivne kamatne stope. Prihodi i rashodi se priznaju u bilansu uspeha kada finansijska obaveza prestane da se priznaje kao i kroz proces amortizacije.

(VI) Renegotiated loans

Where possible, the Bank seeks to restructure loans rather than to take possession of collateral. This may involve extending the payment arrangements and the agreement of new loan conditions. Once the terms have been renegotiated, the loan is no longer considered past due. Management continuously re-views renegotiated loans to ensure that all criteria are met and that future payments are likely to occur. The loans continue to be subject to an individual or col-lective impairment assessment, calculated using the loan’s original effective interest rate.

(VI) Deposits from other banks and customers

All deposits from other banks and customers are ini-tially recognized at the fair value of the consideration received including direct transaction costs, except for financial liabilities through profit and loss. After initial recognition, interest-bearing deposits and borrow-ings are subsequently measured at amortized cost using the effective interest method.

(VIII) Offsetting financial instruments

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or realize the asset and settle the liability si-multaneously.

(IX) Borrowings and other financial liabilities

Issued financial instruments or their components are classified as liabilities, where the substance of the contractual arrangement results in the Bank hav-ing an obligation either to deliver cash or another financial asset to the holder, or to satisfy the obliga-tion other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of own equity instruments. Such instruments include amounts due to the Government, amounts due to credit institutions, amounts due to customers, as well as preference shares. After initial recognition, bor-rowings are subsequently measured at amortized cost using the effective interest method. Gains and losses are recognized in the income statement when the borrowings are derecognized as well as through the amortization process.

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Prestanak priznavanja finansijskih sredstava i finansijskih obaveza

Finansijska sredstva

Finansijsko sredstvo (ili, deo finansijskog sredstva ili grupe finansijskih sredstava) prestaje da se priznaje ukoliko:

• je došlo do isteka prava na gotovinske prilive po osnovu tog sredstva; ili• je Banka prenela pravo na gotovinske prilive po os-novu sredstva ili je preuzela obavezu da izvrši isplatu primljene gotovine po osnovu tog sredstva u punom iznosu bez materijalno značajnog odlaganja plaćanja trećem licu po osnovu ugovora o prenosu; i• Banka je ili izvršila prenos svih rizika i koristi u vezi sa sredstvom, ili nije niti prenela niti zadržala sve rizike i koristi u vezi sa sredstvom, ali je prenela kon-trolu nad njim.

Kada je Banka prenela prava na gotovinske prilive po osnovu sredstava ili je sklopila ugovor o preno-su, i pri tom nije niti prenela niti zadržala sve rizike i koristi u vezi sa sredstvom, niti je prenela kontrolu nad sredstvom, sredstvo se priznaje u onoj meri ko-liko je Banka angažovana u pogledu sredstva. Dalje angažovanje Banke, koje ima formu garancije na preneseno sredstvo, se vrednuje u iznosu originalne knjigovodstvene vrednosti sredstva ili iznosu mak-simalnog iznosa naknade koju bi Banka morala da isplati.

Kada stalno učešće ima oblik pisane i/ili kupljene op-cije (uključujući i opciju koja se izmiruje u gotovini ili slične odredbe) za preneto sredstvo, stepen stalnog

učešća Banke jednak je iznosu prenetog sredstva koji Banka može da otkupi, izuzev u slučaju prodajne op-cije (uključujući i opciju koja se izmiruje u gotovini ili slične odredbe) na sredstvo koje se odmerava po fer vrednosti, stepen stalnog učešća Banke je ograničen na niži iznos od fer vrednosti prenetog sredstva i cene izvršenja opcije.

Finansijske obaveze

Finansijska obaveza prestaje da se priznaje ukoliko je ispunjenje te obaveze izvršeno, ukoliko je obaveza ukinuta ili ukoliko je isteklo važenje obaveze. U slučaju gde je postojeća finansijska obaveza zamen-jena drugom obavezom prema istom poveriocu, ali pod značajno promenjenim uslovima ili ukoliko su uslovi kod postojeće obaveze značajno izmen-jeni, takva zamena ili promena uslova tretira se kao prestanak priznavanja prvobitne obaveze sa istovre-menim priznavanjem nove obaveze, dok se razlika između prvobitne i nove vrednosti obaveze priznaje u bilansu uspeha.

Gotovina i gotovinski ekvivalenti

Gotovina i gotovinski ekvivalenti iskazani u izveštaju o tokovima gotovine obuhvataju sredstva prvobitno oročena na tri meseca ili manje, i uključuju gotovinu u blagajni, tekuće račune kod Centralne banke i de-pozite kod ostalih banaka.

Operativni lizing

Zakup sredstava kod kojih su sve koristi i rizici u vezi sa vlasništvom zadržani kod zakupodavca, odnosno nisu preneti na zakupca, evidentiran je kao operativni lizing.

Derecognition of financial assets and financial liabilities

Financial assets

A financial asset (or, where applicable a part of a fi-nancial asset or part of a group of similar financial assets) is derecognized where:

• the rights to receive cash flows from the asset have expired; or• the Bank has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without mate-rial delay to a third party under a ‘pass-through’ ar-rangement; and• either (a) the Bank has transferred substantially all the risks and rewards of the asset, or (b) the Bank has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

When the Bank has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the as-set is recognized to the extent of the Bank’s continu-ing involvement in the asset. Continuing involvement that takes the form of a ‘’guarantee’’ over the trans-ferred asset is measured at the lower of the origi-nal carrying amount of the asset and the maximum amount of consideration that the Bank could be re-quired to repay.

Where continuing involvement takes the form of a written and/or purchased option (including a cash-settled option or similar provision) on the transferred asset, the extent of the Bank’s continuing involvement

is the amount of the transferred asset that the Bank may repurchase, except that in the case of a written put option (including a cash-settled option or simi-lar provision) on an asset measured at fair value, the extent of the Bank’s continuing involvement is limited to the lower of the fair value of the transferred asset and the option exercise price.

Financial liabilities

A financial liability is derecognized when the obliga-tion under the liability is discharged or cancelled or expires. Where an existing financial liability is replaced by another from the same lender on substantially dif-ferent terms, or the terms of an existing liability are substantially modified, such an exchange or modi-fication is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is rec-ognized in profit or loss.

Cash and cash equivalents

In the cash flow statement, cash and cash equiva-lents comprise cash and cash equivalents including mandatory reserve with the Central bank of Bosnia and Herzegovina, as well as assets on the current ac-counts with domestic and foreign banks.

Operating lease

Leases which does not transfer to the Bank substan-tially all the risks and benefits incidental to ownership of the asset are classified as operating leases.

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Nekretnine, oprema i nematerijalna ulaganja

Osnovna sredstva i nematerijalna ulaganja iskazana su po nabavnoj vrednosti umanjenoj za akumuliranu ispravku vrednosti.

Amortizacija se obračunava korišćenjem proporcion-alne metode u cilju smanjenja vrednosti nekretnina i opreme na njihove rezidualne vrednosti tokom procenjenih korisnih vekova upotrebe. Zemljište ne podleže amortizaciji.

Procenjeni korisni vekovi upotrebe sredstava se kreću u sledećim rasponima:Zgrade 1,3%Kompjuteri i srodna oprema 20,0%Automobili 12,5% - 15%Nematerijalna sredstva 20,0% Ostala oprema i nameštaj 10,0% - 16,5%

Sredstva u pripremi se ne amortizuju. Sa amortizaci-jom ovih sredstava se počinje po njihovom stavljanju u upotrebu.Dobici ili gubici koji se javljaju prilikom rashodovanja ili prodaje nekretnina i opreme, priznaju se na teret ili u korist bilansa uspeha, kao deo ostalih poslovnih prihoda ili operativnih i ostalih poslovnih rashoda.

Troškovi investicionog i tekućeg održavanja se iska-zuju u bilansu uspeha u trenutku njihovog nastanka. Troškovi vezani za rekonstrukciju i poboljšanje, koji menjaju kapacitet ili namenu osnovnih sredstava, ka-pitalizuju se i uvećavaju nabavnu vrednost osnovnog sredstva.

Dobici ili gubici koji se javljaju prilikom rashodovanja

ili prodaje nekretnina i opreme, priznaju se na teret ili u korist bilansa uspeha, kao deo ostalih poslovnih prihoda ili operativnih i ostalih poslovnih rashoda.

Obezvređenje nefinansijskih sredstava

Banka procenjuje na dan bilansa stanja, ukoliko događaji ili promene okolnosti ukazuju da knjigovod-stvene vrednosti nefinansijskih sredstava mogu biti obezvređene, da li postoje indikacije da nefinansijsko sredstvo može da bude obezvređeno. Ukoliko takva indikacija postoji, odnosno kada se zahteva godišnje testiranje obezvređenja sredstva, Banka procenjuje nadoknadive vrednosti sredstva. Ukoliko se utvrdi da je knjigovodstvena vrednost sredstva (ili grupe sred-stava, odnosno jedinice koja generiše gotovinu) veća od nadoknadive vrednosti, sredstvo je obezvređeno i knjigovodstvena vrednost sredstva se umanjuje do procenjenog iznosa nadoknadive vrednosti. Preth-odno priznat gubitak po osnovu obezvređenja se revidira samo ukoliko je došlo do promene u pro-cenama korišćenim za određivanje nadoknadive vrednosti sredstva, od trenutka kada je gubitak po osnovu obezvređenja priznat. U tom slučaju, kn-jigovodstvena vrednost sredstva se uvećava do na-doknadive vrednosti.

Finansijske garancije

U uobičajenom toku poslovanja Banka odobrava finansijske garancije koje se sastoje od plativih i činidbenih garancija, akreditiva i drugih poslova jemstva. Finansijske garancije se inicijalno priznaju u bilansu stanja po fer vrednosti, što su primljene na-knade. Nakon inicijalnog priznavanja, obaveze Banke koje proističu iz finansijskih garancija vrednuje se u

Property, equipment and intangible assets

Property, equipment and intangible assets are meas-ured at their cost less accumulated depreciation.

Depreciation and amortization of property and equipment and intangible assets is provided on a straight-line method, applying prescribed annual rates, in order to write off the assets over their esti-mated useful lives.

The applied annual depreciation rates are as follows:

Buildings 1.3%Computers and related equipment 20.0%Vehicles 12.5% - 15%Intangible assets 20.0% Other equipment and furniture 10.0% - 16.5%

Assets in course of construction are not depreciated. Depreciation on these assets will begin when the re-lated assets are brought into use.

Gains from the disposal of property and equipment are credited directly to other income, whereas any losses arising on the disposal of property and equip-ment are charged to other expenses.

Maintenance expenses are recorded in the income statement at the moment they occur. Expenses re-lated to reconstruction and improvement, changing capacity or fixed assets purpose, is capitalized and the purchase value of fixed assets is increased.

Impairment of non-financial assets

At each reporting day Bank’s management reviews if current events or changes of circumstances indicates that the carrying amounts of Bank’s non-financial assets can be impaired, if there are indications that non-financial assets can be impaired. If there is such indication exists, meaning that the annual testing of impairment is needed, the Bank estimates revocable amount of the assets. If the recoverable amount of an asset is estimated to be less than its carrying val-ue, the carrying amount of the asset is reduced to its recoverable amount, being the higher of the asset’s net selling price and value in use.Previously recognized impairment loss is reviewed only in case that there is a change in estimations used to determine recoverable amount, from the moment the impairment loss is recognized. In that case, book value of assets is increased to the revocable amount.

Financial guarantees

In ordinary course of business, the Bank gives finan-cial guarantees, consisting of letters of credit, guar-antees, performance bond, acceptances and other. Financial guarantees are initially recognized in the financial statements at fair value, being the premium received. Subsequent to initial recognition the Bank’s liability under each guarantee should be measured at the higher of the amortized premium and the best estimate of expenditure required settling any finan-cial obligation arising as a result of the guarantee.

Any increase in the liability relating to the financial guarantees is taken to the income statements. The premium received is recognized in the income state-ments on a straight line basis over the life of the guarantee.

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iznosu amortizovane naknade ili iznosu najbolje pro-cene troškova neophodnih da bi se izmirila finansi-jska obaveza koja nastaje kao rezultat garancije, u zavisnosti koji je iznos viši.

Povećanje obaveza koje se odnosi na finansijske ga-rancije se iskazuje na teret bilansa uspeha. Primljene naknade se priznaju u korist bilansa uspeha u okviru prihoda od naknada i provizija ravnomerno tokom perioda trajanja garancije.

Rezervisanja

Rezervisanja se priznaju kada Banka ima sadašnju obavezu (zakonsku ili izvedenu) kao rezultat preth-odnog događaja, verovatno je da će biti potreban odliv ekonomskih koristi da bi obaveza bila izmire-na i moguće je izvršiti pouzdanu procenu iznosa obaveze. U slučajevima kada je efekat vremenske vrednosti novca materijalan, iznos rezervisanja pred-stavlja sadašnju vrednost izdataka za koje se pret-postavlja da će biti dovoljni da se obaveze izmire.

Beneficije zaposlenih

Doprinosi i naknade za socijalno osiguranje zaposlenih

U skladu sa propisima koji se primenjuju u Repub-lici Srpskoj, Banka je u obavezi da plaća doprinose državnim fondovima kojima se obezbeđuje socijalna sigurnost zaposlenih. Ove obaveze uključuju do-prinose za zaposlene na teret poslodavca iznosima obračunatim po stopama propisanim relevantnim zakonskim propisima. Banka je, takođe, obavezna da od bruto zarada zaposlenih obustavi doprinose i da

ih, u ime zaposlenih, uplati tim fondovima. Troskovi doprinosa se knjiže na teret rashoda perioda na koji se odnose.

Dugoročne beneficije zaposlenima

U skladu sa Zakonom o radu, Kolektivnim ugovo-rom, Granskim kolektivnim ugovorom i Pravilnikom o radu Banke, Banka je u obavezi da isplati naknadu zaposlenima prilikom odlaska u penziju. Dugoročne obaveze po osnovu otpremnina za odlazak u pen-ziju nakon ispunjenih uslova predstavljaju sadašnju vrednost očekivanih budućih isplata zaposlenima utvrđenu aktuarskim odmeravanjem.

Poslovi u ime i za račun trećih lica

Sredstva po poslovima u ime i za račun trećih lica, kojima Banka upravlja uz naknadu, nisu uključena u bilans stanja Banke i prikazana su u okviru vanbi-lansne evidencije.

Rezervisanja za potencijalne kreditne i druge gubitke

U skladu sa Odlukom Agencije za bankarstvo Repub-like Srpske (u daljem tekstu ’’Odluka’’) o izmenama i dopunama Odluke o minimalnim standardima za up-ravljanje kreditnim rizikom i klasifikaciju aktive banaka propisani su standardi i kriterijumi koje je banka dužna da osigura i sprovodi u oceni, preuzimanju, praćenju, kontroli, upravljanju kreditnim rizikom i klasifikaciji svoje aktive. Aktivu banke izloženu riziku, u smislu ove Odluke čine krediti, depoziti kod banaka, kama-ta i naknada, hartije od vrednosti koje se drže do dospeća, hartije od vrednosti koje su raspoložive za

Provisions

A provision is recognized when the Bank has a pre-sent obligation (legal or constructive) as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be re-quired to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Where the effect of the time value of money is material, the amount of a provision is the present value of the ex-penditures expected to be required to settle the ob-ligation.

Employee benefits

Employee taxes and contributions for social security

In accordance with the regulations prevailing in the Republic of Srpska, the Bank has an obligation to pay contributions to various state social security funds. These obligations involve the payment of contribu-tions on behalf of the employee, by the employer in an amount calculated by applying the specific, legally-prescribed rates. The Bank is also legally ob-ligated to withhold contributions from gross salaries to employees, and on their behalf to transfer the withheld portions directly to the appropriate govern-ment funds. These contributions payable on behalf of the employee and employer are charged to expenses in the period in which they arise.

Long term employee benefits

In accordance with the Labour Law, Industry employ-

ment agreement and Manual on employment, the Bank has an obligation to disburse an employment retirement benefit to a retiree upon the retirement. The long-term liabilities with referring to the sever-ance payments and jubilee awards represent present value of the defined benefit obligation determined through actuarial valuation.

Asset management on behalf of third parties

The Bank manages funds for the account and on be-half of third parties and charges fees for these ser-vices. These funds are not included in the Bank’s bal-ance sheet and they are disclosed within off-balance sheet records.

Provisions for loan and other losses

In accordance with the Decision of the Banking Agen-cy of the Republic of Srpska (hereinafter referred to as’’Decision’’) on Amending of the Decision on Mini-mum Standards for Credit Risk Management and classification of assets of banks standards and criteria that the bank has to establish and implement in the assessment, monitoring, control, credit risk manage-ment and classification of its assets are prescribed.

Bank’s risk bearing assets, in terms of this decision are loans, deposits with banks, interest rates and fees, se-curities held to maturity, securities available for sale, the shares in other legal entities and other balance sheet items in which the bank is at risk of collection, and issued guarantees, bills, acceptances and other forms of guarantees, uncovered letters of credit, ir-revocable approved and unused credits and all other items that are potential liabilities.

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prodaju, učešće banke u kapitalu drugih pravnih lica i druge bilansne stavke kod kojih je banka izložena riziku naplate, kao i izdate garancije, i drugi oblici jemstva, nepokriveni akreditivi, neopozivi odobreni a neiskorišćeni krediti i sve druge stavke koje predstav-ljaju potencijalne obaveze.

Na osnovu Odluke krediti, kao i druga bilansna ak-tiva i sve navedene vanbilansne obaveze klasifikuju se u sledeće kategorije: A („dobra aktiva“), B („aktiva sa posebnom napomenom“), C („substandardna ak-tiva“), D („sumnjiva aktiva“) i E („gubitak“). U skladu sa Odlukom, za kategoriju A banka formira 2% rez-ervisanja za opšta rezervisanja kreditnog rizika, a za kategorije B, C, D i E rezervisanja su sledeća:

Kategorija B: aktiva sa posebnom napomenom 5% - 15%Kateogrija C: substandardna aktiva 16% - 40%Kategorija D: sumnjiva aktiva 41% - 60%Kategorija E: gubitak 100%

Primenom Međunarodnih računovodstvenih stand-arda od 01.01.2010. godine došlo je do određenih promena u bilansnim pozicijama Banke. U skladu sa Odlukom stavke klasifikovane u E kategoriju, i u slučaju kada je sprovedena ispravka vrednosti u ce-lokupnom iznosu, Banka iskazuje u bilansu stanja sve dok se ne sprovedu radnje u vezi sa prestankom obaveze dužnika, a u skladu sa zakonskim propisima koji uređuju obligacione odnose i internim politikama i procedurama Banke.

Takođe, ako prilikom klasifikacije stavka aktive prelazi u nekvalitetnu aktivu, za obračunatu a nenaplaćenu kamatu i naknadu , koja je u prethodnom peri-odu bila priznata kao prihod, Banka vrši ispravku

vrednosti nenaplaćenog potraživanja u skladu sa Međunarodnim računovodstvenim standardima.

U skladu sa Odlukom rezerve za kreditne gubitke predstavljaju rezerve, koje je Banka prilikom procene kvaliteta aktive, odnosno kvalifikacije stavke aktive, dužna da formira najmanje u skladu sa kriterijumima iz pomenute Odluke uzimajući u obzir već formirane ispravke vrednosti bilansne aktive i rezervisanja za gubitke po vanbilansnim stavkama. Iznos za procen-jene gubitke, nakon umanjenja za ispravke vrednosti bilansne aktive i rezervisanja za gubitke po vanbi-lansnim stavkama izdvaja se iz dobiti po osnovu od-luke Skupštine Banke i evidentira u okviru rezervi za kreditne gubitke. Ukoliko Banka nije u mogućnosti da izvrši pokriće nedostajućih rezervi, iste se i dalje evi-dentiraju kao odbitna stavka od kapitala i koriguju se u narednim obračunima do konačnog pokrića.

Porez na dobit

Oporezivanje dobiti se vrši u skladu sa poreskim pro-pisima Republike Srpske. Banka tokom godine porez na dobit plaća u vidu mesečnih akontacija, čiju vis-inu utvrđuje na osnovu poreske prijave za prethodnu godinu. Porez na dobit obračunava se u visini od 10% od iznosa oporezive dobiti utvrđene u Poreskom bi-lansu. Oporeziva dobit se utvrđuje usklađivanjem pri-hoda i rashoda iskazanim u bilansu uspeha, na način predviđen poreskim propisima, i može biti umanjena za određene poreske olakšice.

Kapital

Kapital se sastoji od običnih akcija, emisione premije, rezervi iz dobiti, revalorizacionih rezervi i neraspoređene dobiti.

In accordance with the Decision, credits and other balance sheet assets and risk bearing off-balance items are classified into the following categories: A (“pass”), B (“watch”), C (“substandard assets”), D (“doubtful assets”) and E (“loss”). Pursuant to the Decision, the Bank makes 2% provisions for general risk-bearing provisions for category A, while the pro-visions for categories B, C, D and E are the following:

category B: watch 5% - 15%category C: substandard assets 16% - 40%category D: doubtful assets 41% - 60%category E: loss 100%

Application of international accounting standards from 01 January 2010. there was a certain change in the balance sheet items of the Bank. In accordance with the Decision, the assets classified in category E, even when it is 100% impaired, are recorded in the balance sheet until the Bank conducts actions for ter-mination of obligations of the debtor, in accordance with legal regulations governing contractual rela-tionships and internal policies and procedures of the Bank. Also, if the in the classification, assets migrate to non-performing assets, the accrued and unpaid interest, which had previously been recognized as in-terest income, the Bank shall impair the value of un-collected receivables in accordance with International Accounting Standards.

In accordance with the Decision, reserves for loan losses represents a reserve that the Bank in assess-ing asset’s quality and qualifications of assets items, forms, taking into account the already established impairment of balance sheet assets and provisions for losses of off-balance sheet items. The amount

of estimated losses, net of allowance balance sheet assets and provisions for losses of off-balance sheet items are created from retained earnings based on the decisions of the General Assembly and is record-ed under the allowance for loan losses. If the Bank is unable to cover lacking reserves, they are still re-corded as a deduction from equity and adjusted in the following calculations to the final coverage.

Income taxes

Income tax is calculated in accordance with tax regu-lations of the Republic of Srpska. Income tax is pay-able at 10% of the taxable income reported in Tax return. The taxable income represents profit reported in the income statement adjusted for certain income and expenses, as prescribed by the tax regulations, and it could be reduced for certain tax reliefs.

Shareholders’ equity

Shareholders’ equity consists of ordinary shares, net of any transaction costs, reserves and retained earn-ings.

Comparative data

In order to conform with the presentation in the cur-rent year, certain adjustments have been made in comparative data on the balance sheet and changes in equity, due to changes in regulations governing the banking and financial reporting.

Financial statements for 2009. have been prepared in accordance with the Law on Accounting and Audit-ing of Republic of Srpska, who has prescribed IAS or

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Uporedni podaci

U cilju usaglašavanja sa prezentacijom u tekućoj go-dini, izvršene su određene korekcije uporednih po-dataka u bilansu stanja i promenama na kapitalu, usled promene propisa koji regulišu poslovanje ba-naka i finansijsko izveštavanje.

Finansijski izveštaji za 2009. godinu su sastav-ljeni u skladu sa važećom regulativom Agencije za bankarstvo republike Srpske na dan 31.12.2009.go-dine. Imajući u vidu obavezu primene novog Zakona o računovodstvu i reviziji Republike Srpske od 01. januara 2010. godine, Agencija za bankarstvo Re-publike Srpske je sa 31.12.2010. godini donela Uput-stvo o izmenjenom načinu formiranja, evidentiranja i izveštajnog iskazivanja rezervi za kreditne gubitke kao i odluku o izmenama i dopunama odluke o mini-malnim standardima za upravljanje kreditnim rizicima i klasifikacija aktive banaka.

U skladu sa izmenjenim računovodstvenim propisima i propisima Agencije za bankarstvo Republike Srpske, došlo je do promena određenih bilansnih pozicija počev od 01. januara 2010. godine, i Banka je radi uporedivosti podataka sa prezentacijom u tekućoj godini izvršila određene korekcije na dan 31.12.2009. godine čiji efekti su iskazani u bilansu stanja. Efekti korekcija iz prethodnog perioda na dan 01.01.2010.godine se odnose na primenu Međunarodnih računovodstvenih standarda 39 i 37 i izmenu me-todologije u obračunu rezervisanja, te su po tom osnovu povećane ukupne pozicije aktive i pasive za iznos od KM 5.252 hiljade i to:

• povećanje aktive je po osnovu vraćanja iz vanbi-lansne evidencije u bilans kredita ranije klasifikovanih u E kategoriju u iznosu KM 3.676 hiljada i suspend-ovane kamate i ostale aktive u iznosu KM 1.997 hilja-da, te povećanja ispravki vrednosti aktive u iznosu KM 421 hiljada;

• povećanje pasive je po osnovu formiranih rezervi za kreditne gubitke u iznosu KM 4.274 hiljada (rezerve po osnovu regulative ABRS) i za rezerve na stavke rizične vanbilansne aktive u iznosu KM 978 hiljada.

IFRS as the basis for the preparation of the financial statements.

Considering the application of international account-ing standards as at 01 January 2010. , the Banking Agency of the Republic of Srpska passed in 2010. a Directive on the revised form of forming, recording and reporting of the allowance for credit losses as well as the Decision on amendments of decision on minimum standards for credit risk management and classification of bank assets.

In accordance with changed accounting rules and regulations of the Banking Agency of the Republic of Srpska, there was a change of certain balance sheet positions as at 01 January 2010. and in order to compare the data with the presentation in the cur-rent year the Bank made some corrections as at 31 December 2009. The effects of adjustments are pre-sented in the balance sheet. Effects of adjustments for prior periods are related to implementation of IAS 39 and 37 and change of methodology of provision calculation resulting in increase of total asset and li-abilities by 5.252 thousands:

• increase in assets based on returning from off-bal-ance in the balance of loans previously classified in category E in the amount of KM 3,676 thousand and suspended interest and other assets in the amount of KM 1,997 thousand and increased allowances for im-pairment of assets amounting to KM 421 thousand;

• increase in liabilities is based on the established provisions for credit losses in the amount of KM 4,274 thousand (reserves from ABRS regulation) and the reserve for off-balance sheet items risky assets in the amount of KM 978 thousand.

annual report 2011

88 89

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3. PRIHODI I RASHODI OD KAMATA

Prihodi i rashodi od kamata prikazani po izvorima nastanka dati su u sledećoj tabeli:

3. INTEREST INCOME AND EXPENSES

2010 2009 Income Expenses Income Expenses KM thousand KM thousand KM thousand KM thousand Banks 896 96 1.743 2.488Companies 25.588 5.889 23.005 3.651Public sector 3.911 5.162 1.805 6.916Retails 13.528 3.311 14.783 4.909Other customers 161 6.307 20 719

44.084 20.765 41.356 18.683Total

23.319 22.673 Interest and similar income, net

Interest income and expense, analyzed by types of placements and related sources, are as follows:

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4. PRIHODI I RASHODI PO OSNOVU NAKNADA I PROVIZIJA

5. PRIHODI I RASHODI IZ OPERATIVNOG POSLOVANJA

4. FEE AND COMMISSION INCOME AND EXPENSES

5. OPERATING INCOME AND EXPENSES

94 95


Prihodi od ukidanja indirektnih otpisa i naplaćenih otpisanih potraživanja:

Troškovi ispravke vrednosti se odnose na:

Indirect write-off cancellation income and written-off receivables recovery income:

Impairment expenses:

96 97


6. OSTALI PRIHODI I RASHODI

Ostali operativni prihodi i rashodi obuhvataju:

7. PRIHODI I RASHODI OD PROMENE VREDNOSTI IMOVINE I OBAVEZA

6. OTHER INCOMES AND EXPENSES

7. INCOME AND EXPENSE FROM CHANGE IN ASSETS AND LIABILITIES

98 99


8. POREZ NA DOBIT

Tekući porez za 2010. godinu obračunat je primenom poreske stope od 10% na oporezivu dobit prikazanu u poreskom bilansu za poreske organe u Republici Srpskoj. Porez izvan Republike Srpske iznosi KM 38 hiljade i odnosi se na Brčko distrikt.

9. GOTOVINA, GOTOVINSKI EKVIVALENTI, ZLATO I POTRAZIVANJA IZ OPERATIVNOG POSLOVANJA

8. INCOME TAX

9. CASH, CASH EQUIVALENT, GOLD, ANP OPERATION RECEIVABLES

100 101


10. DEPOZITI I KREDITI U DOMAĆOJ I STRANOJ VALUTI

Na dan 31.12.2010. godine na računu kod Centralne banke Bosne i Hercegovine izdvojena su sredstva po osnovu rezerve u iznosu od 116.036 hiljada KM.

Obavezna rezerva je izdvojena u skladu sa Odlukom Centralne banke Bosne i Hercegovine o utvrđivanju i održavanju obaveznih rezervi i utvrđivanju na-knade na iznos rezervi, koja propisuje osnovicu za obračun obavezne rezerve, obračunski period, sto-pu obavezne rezerve, kao i obračun naknade banci za iznos sredstava na računu rezervi kod Centralne banke.

Osnovicu za obračun obavezne rezerve čine depoziti i pozajmljena sredstva, bez obzira u kojoj su valuti sredstva izražena. Obavezna rezerva se obračunava prema stanju tih sredstava na kraju svakog radnog dana u toku obračunskog perioda, koji prethodi pe-riodu obračuna. Obračunski period (period obračuna obaveznih rezervi) počinje svakog meseca u dane prvog, jedanaestog i dvadesetprvog, a završava se desetog, dvadesetog i zadnjeg dana u mesecu. Banka je obavezna da nakon svakog obračunskog perioda, a najkasnije u roku od tri dana po isteku pe-rioda obračuna, dostavi Centralnoj banci BiH izveštaj

As of 31 December 2009 assets KM 116.036 thou-sand were maintained for the mandatory reserve purposes on the account held with the Central Bank of Bosnia and Herzegovina.The mandatory reserve was maintained in the manner defined by the Deci-sion of the Central Bank of Bosnia and Herzegovina on determination and maintenance of mandatory re-serves and determination of income for the reserve, whereby the following are prescribed: the basis for obligatory reserve calculation, calculation period, obligatory reserve rate, as well as income for the ob-ligatory reserve amount with the Central Bank.

Deposits and funds borrowed represent the basis for calculating the mandatory reserve, regardless of their currency. The mandatory reserve is calculated according to the balance at the end of each working day during period, preceding the maintenance peri-od. The period for calculating the mandatory reserve begins as of 1st, 11th and 21st day of each month and concludes on 10th, 20th and the last day in a month. The Bank is obligated to submit a report to the Central Bank of Bosnia and Herzegovina on the balance of its deposits and loans in KM, within three days after the end of the period.

In line with the Decision on the amendment of Deci-sion on determining and maintaining obligatory re-serves and determination of interest for reserves, ob-ligatory reserve rate is 14% for short term deposits and loans and 7% on long term deposits and loans.

In line with the Decision Central bank calculates the interest on the total amount of the obligatory reserve during the calculating period in the following way: applicable rate for the obligatory reserves is 0,50% (until 01.07.2010.) and the rate for the amount ex-ceeding the obligatory reserves equals to the aver-age interest rates that the Central bank carried out on the market on overnight deposits during the same period.

o stanju svojih depozita i pozajmljenih sredstava izraženih u konvertibilnim markama.

U skladu sa Odlukom o utvrđivanju i održavanju obaveznih rezervi i utvrđivanju naknada na iznos rezervi, stopa obavezne rezerve koju primenjuje Centralna banka iznosi 14% na depozite i pozajmlje-na sredstva sa ugovorenim rokom dospeća do jedne godine (kratkoročni depoziti i pozajmljena sredstva) i 7% na depozite i pozajmljena sredstva sa ugovoren-im rokom dospeća preko jedne godine (dugoročni depoziti i pozajmljena sredstva).

U skladu sa Odlukom Centralna banka obračunava naknadu Banci na iznos sredstava Banke na računu rezervi kod Centralne banke u obračunskom periodu na sledeći način: na iznos obavezne rezerve po stopi od 0,50% (do 01.07.2010. godine) i na iznos sred-stava na računu rezervi po stopi koja se utvrđuje na osnovu proseka kamatne stope koju je u istom peri-odu ostvarila Centralna banka na overnight depozite.

10. DEPOSISTS AND LOANS IN LOCAL AND FOREIGN CURRENCY

102 103


11. POTRAŽIVANJA ZA KAMATU I NAKNADU, PO OSNOVU PRODAJE I DRUGA POTRAŽIVANJA

11. INTEREST, FEE, RECEIVABLES FROM SALES AND OTHER RECEIVABLES

104 105


12. DATI KREDITI I DEPOZITI

U skladu sa Odlukom o aktivnim kamatnim stopama Banke i katalogom proizvoda za pravna lica i fizička lica klijente Banke, kratkoročni krediti su odobravani pravnim licima uz kamatne stope koje su se kretale u rasponu od 2,00% do 13% godišnje, a dugoročni krediti su odobravani uz kamatnu stopu od 2,4% do 12% godišnje, u zavisnosti od vrste kreditnog proizvoda i instrumenta obezbeđenja. Kamatna stopa na kratkoročne kredite stanovništvu kretala se u rasponu 3,3% do 12% godišnje, a dugoročni krediti su odobravani uz kamatnu stopu od 3,30% do 13% godišnje. Na kredite koji su odobravani iz kreditnih linija, kamatna stopa je iznosila šestomesečni Euribor + marža u rasponu od 4,225% do 6,725%, a krediti iz izvora IRB RS odobravani su prema Pravilima IRBRS.

In accordance with the Decision on the Bank’s interest rate, short term loans were granted to corporate clients at the annual interest rates ranging from 2% to 13%, depending on the type of loan, while long term loans were granted at annual interest rates ranging from 2,4% to 13%. Short term loans to retail customers were granted at annual interest rate ranging from 3,3% to 12% while long term loans were granted at the annual interest rate ranging from 3,3% to 13%. For loans granted from credit lines the interest rate is 6 month EURIBOR + margin ranging from 4,225% to 6,725%, and loans from IRB RS are granted in accordance to IRBRS requirements.

12. GIVEN LOANS AND DEPOSITS

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Ročnost dospeća kredita Ročnost dospeća plasmana klijentima prema roku dospeća, sa stanjem na dan 31. decembar 2010. godine je sledeća:

Koncentracija plasmana korisnicima

Koncentracija ukupno plasiranih sredstava komitentima od strane Banke, na dan 31. decembar 2010. godine značajna je kod sledećih delatnosti:

Concentration of loans to customers

As of 31 December 2010 the concentration of the Bank’s total placements to customers was significant in the following industries:

Maturities of loans to customers Maturity structure of loans to customers in terms of the remaining maturity as of 31 December 2010 is as follows:

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13. HARTIJE OD VRIJEDNOSTI

Hartije od vrednosti za trgovanje na dan 31. decembra 2010. godine iznose 1.583 hiljada KM (31. decembra 2009. godine: 2.046 hiljada KM) i Banka je u 2010. godini po osnovu trgovanja hartijama od vrednosti ostvarila prihod 10 hiljada KM.

Hartije od vrednosti koje se drže do dospeća na dan 31.decembra 2010. godine iznose 236 hiljada KM (31.de-cembra 2009. godine: 0 KM).

Investicije u nekonsolidovana povezana preduzeća obuhvataju učešća u kapitalu kod sledećih pravnih lica:

13. SECURITIES

As of 31 December 2010, securities held for trading amounted to KM 1.583 thousand (31 December 2009: KM 2.046 thousand). During 2010 the Bank realized profit from securities held for trading in the amount of KM 10 thousand. As of 31 December 2010, securities held to maturity amounted to KM 236 thousand (31 December 2009: KM 0).

Investment in non - consolidate related parties include investmentsd in equity of the following legal entities:

31 Dec 2010 31 Dec 2009 KM thousand % in total KM thousand % in total Nova leasing 860 63% 860 63%Nova Real estate 450 10% 450 10%ZIF Unioninvest fond ad 200 9% 200 9%Centralni registar 207 7% 130 7%Banjalučka berza, Banja Luka 266 9% 175 9%SWIFT 31 - 31 -Impairment of investments (136) (51) Total 1.878 1.795

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14. OSTALI PLASMANI I AVR

Promene na ispravkama vrednosti ostalih plasmana bile su sledeće:

14. OTHER INVESTMENTS AND ACCRUALS

112 113


15. OSNOVNA SREDSTVA I ULAGANJA U NEKRETNINE 15. FIXED ASSETS AND REAL ESTATE INVESTMENTS

114 115


Osnovna sredstva i promene na osnovnim sredstvima u toku 2010. godine prikazana su kako sledi: Movements on intangible assets during 2010 were as follows:

116 117


16. NEMATERIJALNA ULAGANJA 16. INTANGIBLE ASSETS

118 119


Nematerijalna ulaganja i promjene na nematerijalnim ulaganjima u toku 2010. godine prikazana su kako slijedi: Intangible asset investments, and impairment in intangible asset investments, during 2010 were as shown bellow:

120 121


17. VANBILANSNE POZICIJE

U cilju zadovoljenja finansijskih potreba komitenata, Banka odobrava različite vidove preuzetih neopozivih obaveza kao i garancija i ostalih preuzetih i potencijalnih obaveza. Iako se pomenute obaveze ne priznaju u bilansu stanja, one sadrže kreditni rizik i stoga čine sastavni dio sveukupnog rizika Banke.

Ukupno stanje potencijalnih obaveza i preuzetih neopozivih obaveza je prikazano u sedećoj tabeli:

Garancije i ostale preuzete i potencijalne obaveze

Akreditivi i garancije obavezuju Banku da izvrši plaćanje u korist korisnika istih ukoliko se za to ispune potrebni uslovi.

Garancije i ’stand - by’ akreditivi nose isti tip rizika za Banku kao i krediti.

Preuzete neopozive obaveze

Preuzete neopozive obaveze se odnose na neiskorišćene odobrene kredite i revolving kredite. Preuzete neopoz-ive obaveze obično imaju fiksne datume kada ističu ili druge odredbe u vezi isteka. Pošto preuzete neopozive obaveze mogu isteći prije povlačenja kredita od strane komitenata, ukupno ugovoren iznos ne predstavlja ne-ophodno buduće gotovinske odlive.

Ipak, potencijalni kreditni gubitak je manji od ukupnih neiskorišćenih obaveza iz razloga što je većina obaveza potencijalna i zavisi od ispunjenja određenih uslova od strane klijenta. Banka prati ročnost preuzetih neopozivih obaveza po osnovu neiskorišćenih odobrenih kredita jer dugoročne preuzete obaveze nose viši stepen kreditnog rizika od kratkoročnih preuzetih obaveza.

Guarantees and other irrevocable commitments

Letter of credits and guarantees commit Bank to perform payment in benefit of the beneficiary, if all necessary conditions are fulfilled.

Guarantees and stand by letter of credits, have the same risk for the bank as loans.

Contingencies and commitments

Irrevocable commitments relate to unused approved loans which cannot be cancelled unilaterally, such as: over-drafts on current accounts, revolving loans to corporate customers, multipurpose frame loans, acquisition and other irrevocable commitments. Irrevocable commitments usually have fixed expiration dates or other provisions concerning expiration. Since the irrevocable commitments can expire before loan withdrawal by the customer, the total contracted amount do not necessarily represent future cash outflows. The Bank monitors maturity of the ir-revocable commitments in respect of unused approved loans, because long-term commitments have higher level of credit risk than short-term commitments.

17. OFF BALANCE SHEET ITEMS

For purpose of clients needs, Bank approve different kind of irrevocable commitments as well as guaranties and other potential commitments. Although, these commitments are not part of balance sheet, they have credit risk, therefore they are part of overall risk of the Bank.

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Poslovi u ime i za račun trećih lica:

Komisioni poslovi uključuju iznos od 20.771 hiljada KM (31.12.2009. godine: 21.955 hiljada KM) koji predstavlja poslove u ime i za račun drugih pravnih lica.

Na dan 31.12.2010. godine ukupna potraživanja po osnovu zaključenih komisionih poslova u ime i za račun opština i drugih institucija države iznose 20.018 hiljada KM.

Banka od 2002. godine u ime i za račun finansijske institucije (IGA) vrši plasman i naplatu kredita odobrenih na ime podsticanja i razvoja proizvodnje za izvoz i na dan 31.12.2010. godine ukupna potraživanja po osnovu datih plasmana iznose 753 hiljada KM.

Poslovi u ime i za račun trećih lica

Ostale stavke vanbilansne evidencija:

Funds managed on behalf of third parties include the amount of KM 20.771 thousand (2009: KM 21.955 thou-sand) that relate to the loans on behalf of third parties.

On 31 December 2010 total balance of receivables that refer to transaction on behalf of third parties (districts and other institutions) was KM 20.018 thousand.

Since 2002, Bank has made placement and collection of loans, on behalf of financial institution (IGA), approved for encouragement and development of production for export. On 31 December 2010 total balance of these receivables was KM 753 thousand.

Ostale stavke vanbilansne evidencija odnose se na: evidentnu kamatu kredita, loro akreditive, hartije od vrijed-nosti preuzete na čuvanje, plaćene takse po tužbama, opozive obaveze po karticama i ostale stavke.

Other off balance sheet item are: interest, loro letter of credit, security (custody), payed cort taxes, receivables from credit cards and other.

Funds managed on behalf of third parties:

Off balance sheet other items

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18. OBAVEZE PO OSNOVU DEPOZITA I KREDITA

19. OBAVEZE ZA KAMATU I NAKNADU

18. DEPOSITS AND LOANS LIABILITIES

19. INTEREST AND FEE LIABILITIES

126 127


20. OSTALE OBAVEZE I PVR

Promene na rezervisanjima za kreditne gubitke:

Promene na rezervisanjima za otpremnine:

20. OTHER LIABILITIES AND ACCRUALS

Changes in Provision for retirement:

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21. KAPITAL

Ukupan akcijski kapital Banke na dan 31.12.2010.god. sastoji se od 63,145,754 obične akcije pojedinačne nomi-nalne vrijednosti 1 KM (31. decembar 2009. godine: 45,142 obične akcije pojedinačne nominalne vrednosti 1.000 KM i 8,150,992 obične akcije pojedinačne nominalne vrednosti 1 KM). Na Skupštini akcionara 17.05.2010. godine donete su Odluke o XIV i XV emisiji akcija.

Odluka o XIV emisiji akcija odnosi se na podelu akcija čijom realizacijom se ranije emitovanih 45.142 običnih akcija klase A nominalne vrednosti 1.000 KM deli na 45,142,000 običnih akcija nominalne vrednosti 1KM.

Odluka o XV emisiji akcija odnosi se na emisije akcija u vrednosti od 9.852.762 KM po osnovu raspodele neto dobiti iz prethodne godine.

Total Bank’s share capital as of 31 December 2010, comprised 63.145.754 ordinary shares with nominal value of KM 1.000 each (31 December 2009: 45.142 ordinary shares with nominal value of KM 1.000, and 8.150.992 ordi-nary shares with nominal value of KM 1). On 17 May 2010 Bank’s Assembly issued a Decision to raise the XIV and XV issuance of shares.

The decision on XIV issuance of shares relates to the issuance of shares where 45.142 common shares of class A and nominal value 1.000 KM divides on 45.142.000 common shares with nominal value 1 KM.

The decision on XIV issuance of shares relates to the issuance of shares in value of 9.852.762 KM from retained profit from 2009.

21. SHAREHOLDER’S EQUITY

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Najveći akcionari Banke na dan 31. decembra 2010. godine su:

Sve gore navedene promene akcionara Banke evidentirane su u jedinstvenoj evidenciji akcionara kod Centralnog registra Hartija od vrednosti Republike Srpske.Banka na dan 31. decembra 2010. godine ima novčani iznos kapitala u iznosu od 63.146 hiljada KM. Zakonom o bankama Republike Srpske propisan je minimalan iznos novčanog kapitala od 15.000 hiljada KM.

Članom 90. stav 3. Zakona o bankama Republike Srpske, odnosno Odlukom o minimalnim standardima za up-ravljanje kapitalom banaka, propisan je minimalni koeficijent adekvatnosti kapitala od 12% i način obračuna istog. Na dan 31. decembra 2010. godine, koeficijent adekvatnosti kapitala Banke iznosio je 13,9% (31.12.2009. godine: 15,1%).

22. DOGAĐAJI NAKON DATUMA BILANSA STANJANije bilo drugih događaja nakon datuma Bilansa stanja koji bi materijalno uticali na finansijske izveštaje Banke.

23. SUDSKI SPOROVINajznačajniji spor koji se vodi protiv Banke je po tužbi Farmaland a.d. Nova Topola, koji takođe vodi spor i protiv Republike Srpske radi utvrđivanja u učešću akcionarskog kapitala u Novoj banci a.d. Banja Luka od 0,323% i za iznos od 4.500 hiljada KM na ime prava po osnovu vlasništva nad akcijama Banke. Naime, Farmaland je pravni naslednik PIK Mladen Stojanović, čiji je kapital odlukom nadležnih državnih organa isknjižen jer je Država bila većinski akcionar PIK Mladen Stojanović. Na dan 01. januara 2003. godine Agroprom banka je pripojena Novoj banci a.d. Banja Luka i na dan pripajanja tužilac nije imao učešća u akcionarskom kapitalu Agroprom banke. Imajući u vidu da Banka nije bila u bilo kakvom odnosu sa tužiocem, rukovodstvo Banke smatra da iz ovog spora neće proisteći materijalno značajna obaveza i zbog toga nisu vršena rezervisanja po tom osnovu.

All above stated changes of the Bank’s shareholders are recorded with the Central Securities Registry of the Re-public of Srpska. On 31 December 2010, the Bank’s monetary equity amounted to KM 63.146 thousand. As pre-scribed by the Law on Banks of the Republic of Srpska, minimal monetary equity amount is KM 15.000 thousand.

According to the Article 90, paragraph 3, of the aforementioned Law and the Decision on minimum standards for management of banks’ capital, the minimal capital adequacy ratio of 12% is prescribed, together with the method for calculation of the capital adequacy ratio. As of 31 December 2009 capital adequacy ratio was 13,9% (31 December 2009: 15,1%).

22. EVENTS AFTER BALANCE SHEET DATEThe Bank had no other significant events after balance sheet date which would have material effect on the finan-cial statements.

23. LITIGATIONSThe most important lawsuit against the Bank is from the litigation of Farmaland a.d. Nova Topola, that also initi-ated lawsuit against Republic of Srpska in order to determine the shareholder ’s equity in Nova Banka a.d., Banja Luka in the amount of 0,323% and requested amount of 4.500 KM based on the ownership of the Bank shares. Farmaland is legal successor of PIK Mladen Stojanovic, whose capital was lost during the privatization of Agro-prom banke a.d., Banja Luka. On January the 1, 2003 Agroprom Bank was merged with Nova Banka a.d., Banja Luka and on that day procecutor did not have shares in shareholder ’s equity of Agroprom banka. Considering that the Bank was not in any relation with the prosecutor, and the request of the procecutor does not have any legal basis, the Bank’s management belive thta this litigation will be resolved in its favour and therefore did not make provisions for this case.

As of 31 December 2010, the Bank’s most significant shaeholder ’s were as follows:

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annual report 2011

Želim da vam se zahvalim na dobrom

odabiru uposlenika koji izražavaju visok

stepen profesionalizma. Nadam se da će te

još bolje poslovati i postati vodaća banka

ne samo u BiH nego i u regionu pa i šire...

* klijent Banke

I want to thank you for choosing the right

employees who display a high degree of

professionalism. I hope that you will

continue to conduct your business in a

superb way and become a leading bank not

only in Bosnia and Herzegovina but also in

the region and even wider...

* Bank customer

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