Početna | Sberbank - 2013 Annual... · 2017-08-14 · organizacija u svetu - mi u Sberbanci Evrope...

www.sberbank.rs

Sberbank Srbija a.d.

annual report 2013

Sadržaj/Contents

Sberbank Srbija i Sberbank EvropaUvodna reč Izvršnog odboraKljučni pokazatelji 2004-2013 Analiza poslovanjaFinansijski izveštajBilans uspehaBilans stanjaIzveštaj o promenama na kapitaluIzveštaj o tokovima gotovineIzveštaj nezavisnog revizoraGodišnji izveštaj Upravnog odboraAbout Sberbank and Sberbank EuropaForeword Of The Executive BoardKey facts 2004-2013 Lines of businessFinancial StatementsIncome statementBalance sheetStatement of changes in shareholders’ equityCash flow statementIndependent auditor’s reportBoard of Directors annual report

4-56-7

89-12

1314

15-1617

18-192021

22-2324-25

2627-30

3132

33-3435

36-373839

O Sberbanci iSberbanci Evrope

Kao važan deo jedne od najvećih, najbrže rastućih i dinamičnih bankarskih

organizacija u svetu - mi u Sberbanci Evrope težimo da budemo prepoznati kao inovatori koji menjaju pravila igre, dolazeći lider u bankarstvu u srednjoj i istočnoj Evropi uz sve veću prisutnost i priznanje u zapadnoj Evropi. Sberbank Europe AG upravlja bankarskom mrežom od devet univerzalnih banaka u osam zemalja srednje i istočne Evrope: Slovačkoj, Češkoj, Mađarskoj, Sloveniji, Hrvatskoj, Bosni i Hercegovini, Srbiji i Ukrajini. Banka ukupno posluje u 280 ekspozitura i ima 4.500 zaposlenih (na dan 31.12.2013).

U 2013. se dogodilo puno pozitivnih promena u Sberbanci Evrope i njenim članicama u srednjoj i istočnoj Evropi. Započeli smo program temeljne transformacije i integracije kako bi iskoristili sinergiju kao član jedne od vodećih bankarskih grupacija u svetu.

Jedno od najvidljivijih dostignuća je uvođenje Sberbank brenda na svim našim tržištima. Tokom godine smo rebrendirali sve naše ekspoziture i proširili našu mrežu. Ova promena je više od promene boje. To je temeljna promena izgleda proizvoda, procesa i iskustva klijenata.

Razumevanje i rešavanje finansijskih potreba naših klijenata je naš prioritet broj 1. Uveli smo nove proizvode i usluge koje omogućuju našim klijentima da ispune svoje težnje - za njihov privatni život, za njihovo malo i srednje preduzetništvo ili za velike kompanije. Nastavićemo da donosimo inovativne proizvode i usluge na tržištima na kojima poslujemo.

Sberbanka je jedna od najuspešnijih finansijskih institucija u svetu i vodeći tržišni igrač u pružanju inovativnih proizvoda baziranih na izvrsnosti i vrhunskoj tehnologiji. U kombinaciji sa

lokalnim stručnjacima i fokusom naših zaposlenih na potrebe klijenta, Sberbanka Evrope gradi mostove između klijenata i jedinstveni je bankarski partner u srednje istočnoj regiji Evrope, Rusiji, zemljama ZND i Turskoj.

Ponosni smo što je u 2013 Sberbanka i dalje prepoznata kao „Najbolja banka u srednjoj i istočnoj Evropi i Rusiji” od strane časopisa Euromoney, što je još jedno priznanje, nakon nagrade „Bank of the Year 2012” od strane magazina Bankar.

Težimo da postanemo broj 1 finansijski partner u srednjoj i istočnoj Evropi tako što dodatno razvijamo sebe i naše poslovanje za dobrobit naših klijenata.

Czech Republic

Slovakia

Ukraine

Austria

Hungary

SloveniaCroatia

Bosnia and Herzegovina Serbia

Godišnji izveštaj 2013 5

Sberbank intro | sberbank.rs


sberbank.rs | Sberbank intro

4

Uvodna rečIzvršnog odbora

Dragi klijenti, akcionari i prijatelji, Sberbank Srbija a.d. Beograd je u 2013.

godini prepoznata kao univerzalna banka koja pruža širok spektar bankarskih usluga za sve vrste klijenata. Banka je proširila svoje bankarsko poslovanje u segmentu stanovništva postavši partner i suvlasnik u Superkartica programu lojalnosti, prvog programa lojalnosti u Srbiji koji nudi posebne usluge i uslove za korisnike programa.

U poslovanju sa privrednim subjektima Sberbanka Srbije gradi svoj kreditni portfolio kroz saradnju sa velikim srpskim kompanijama uključujući i poslovanje Sektora tržišta. Banka je pokazala odlične rezultate u ovom segmentu i kroz bolje usluge i proizvode se očekuje dalji rast.Sberbanka Srbije, donoseći novu filozofiju bankarskog poslovanja na domaće

finansijsko tržište, završila je 2013. godinu sa profitom 9,5 miliona evra.

• Ukupna aktiva je dostigla 868 miliona evra• Plasman kredita je zadržao visok nivo od 300 miliona evra za stanovništvo i 371 miliona evra za privredu, gde su krosborder aktivnosti zabežile rast od 17%;• Volumen depozita je povećan za 16% i dostigao je 256 miliona evra;• Potpuna novost u bankarskim uslugama na srpskom tržištu – platni promet u ruskim rubljama je dostigao 1,1 milijardu rubalja u 2013 godini.

„U 2013. smo rebrendirali našu celu mrežu ekspozitura i osim modernizacije ekspozitura, novi procesi su primenjeni u našim internim operacijama zbog

čega smo dostigli nivo brze reakcije na promene i zahteve tržišta. Povećanje od 17% u ukupnom broju klijenata, šesto mesto među bankama u Srbiji po dobiti po zaposlenom i peto mesto po dobiti po ekspozituri su jasan primer efikasnosti ovakvog pristupa.

Naši planovi u 2014. su usmereni na dalji razvoj i organski rast koji će se postići kontinuiranim povećanjem broja ekspozitura u bliskoj budućnosti . Mi smo tu da ostanemo, da rastemo i da budemo blizu naših klijenata, tako da možemo reagovati brzo i fleksibilno na njihove potrebe i stvoriti adekvatne i korisne proizvode i usluge.

Danilo ĐurovićČlan Izvršnog odbora

Godišnji izveštaj 2013 7Sberbank Srbija a.d.6

sberbank.rs | Uvodna reč Izvršnog odbora Uvodna reč Izvršnog odbora | sberbank.rs

Ključni pokazatelji2004 - 2013

Analiza poslovanja

Poslovanje sa stanovništvom

Resor za poslove sa stanovništvom nastavlja sa uspešnim poslovanjem

i tokom 2013. godine. Kako bi se istakao značaj ovog segmenta poslovanja Banke i dalje unapredio rast i razvoj, tokom septembra imenovan je novi član Izvršnog odbora, Marijana Vasilesku posebno zadužena za ovaj segment poslovanja.

Pored već evidentnog rasta svih pokazatelja poslovanja sa stanovništvom (kreditnog i depozitnog portfolija, broja klijenata, računa, kartica i sl.), planiran je još intenzivniji rast u narednoj godini kroz dogovoreno i planirano partnerstvo sa Super karticom početkom 2014. godine.

Glavni pravci razvoja u narednom periodu su:1. Unapređenje kanala za akviziciju

klijenata kroz proširenje mreže ekspozitura, partnerstva i alternativne kanale;

2. Proširenje ponude proizvoda;3. Marketing podršku.

Naša ponuda biće sve više bazirana na jednostavnim i transparentnim rešenjima i odnosu sa klijentima.

Tokom jula 2013. otvorena je i prva rebrendirana filijala Sberbanke u Srbiji. Proces transformacije ekspozitura iz starog u novi izgled nastavljen je tokom cele 2013. godine i planirano je da bude kompletiran do kraja 2014. godine.

Operativna profitabilnost segementa poslova sa stanovnšitvom (Contribution Marign I) u 2013. godini iznosila je 4,6 miliona evra što predstavlja odraz primenjenih inovacija, pre svega u pogledu kreditnih i depozitnih proizvoda, kao i logičnu posledicu dugoročne orijenatacije ka kvalitenom zadovoljenju finansijskih

potreba klijenata.

Važno je istaći da su plasmani kredita stanovništvu i preduzetnicima i malim preduzećima veći za 31% u odnosu na prethodnu godinu i da je ostvareno povećanje depozitnog portfolija za 24%.

Potvrdu posvećenosti zaposlenih povećanju efikasnosti, pored napred pomenutih parametara, možemo validirati kroz nekoliko sledećih pokazatelja promene u odnosu na 2012. godinu:

• poboljšanje baze aktivnih klijenata za 17%• povećanju broja transakcija domaćeg platnog prometa za 24%• povećanju broja transakcija međunarodnog platnog prometa za 26%• povećanje broja platnih kartica za 16% itd.

Bitno je napomenuti da su navedene perfomanse ostvarene bez povećanja broja filijala (26) i zaposlenih i isključivi su odraz posvećenosti banke ka povećanju efikasnosti i organskom rastu u budućnosti.


sberbank.rs | Ključni pokazatelji Analiza poslovanja | sberbank.rs

Analiza poslovanja

2013. godina je bila izuzetno izazovna i zahtevna za privredu Srbije. Problemi sa kojima se suočava privreda, kao i

negativne okolnosti koje su imale snažan uticaj na celokupan makroekonomski ambijent, odrazli su se i na poslovanje bankarskog sektora u Srbiji. Uprkos svemu Sberbanka Srbije je uspela da zabeleži izuzetno dobar rezultat i zauzme poziciju koja će omogućiti ostvarivanje ambicioznih planova u narednom periodu. Banka se pozicionirala kao pouzdan i stabilan partner srpske privrede sa posebnim akcentom na klijente koji dolaze iz ZNDa ili sarađuju sa njima.

Kao rezultat navedenih napora zabeležen je rast broja klijenata, što je dalje uticalo na značajno povećanje domaćeg i platnog prometa sa inostranstvom preko računa otvorenih u banci, dok je kupovina i prodaja deviza prevazišla i najoptimističnija očekivanja.

Nakon 2013. u 2014. godini nas očekuje dalja stabilizacija portfolia i podizanje profitabilnosti kroz uvođenje novih proizvoda, efikasnije organizacije, koja je postavljena u prethodnoj godini, kao i kroz intenziviriranje saradnje sa članicama Sberbank grupe. Pored očekivanog rasta portfolija, 2014. godina će biti godina dodatnog fokusiranja na depozite u cilju smanjenja L/D racia. Kako bi se ostvarili dati ciljevi puna pažnja ce biti posvećena razvoju i edukaciji ljudi koji su osnovni resurs.

2013. godinu je obeležila stagnacija dinara (uz povremena veća pomeranja), i ovakav trend i stabilnost kursa su

doneli pozitivna kretanja na tržistu. Tokom prve polovine godine dinar je jačao do nivoa od 110 dinara za jedan EUR, da bi u drugoj polovini godine dinar slabio i dosao do nivoa gde je i započeo godinu, oko 114 dinara za 1 EUR. Nominalno, dinar je depresirao samo 0.8%.

Trend ponovne zainteresovanosti internacionalnih klijenata, sa kraja 2012. godine, za srpske hartije od vrednosti, je nastavljen tokom cele 2013. godine.Kako je rasla tražnja za ovim hartijama, tako je reagovalo i tržiste, tako da su krajem godine cene hartija pale na nivoe koji nisu zabeleženi tokom poslednjih 5 godina. Narodna banka je takođe pratila ovaj trend, pa je spuštala referetnu kamatnu stopu. Ova stopa je sa nivoa od 11,75%, sa početka godine, pala na 9.5%.

U 2013. godini značajno su povećani prometi koje smo ostvarili u trgovanju kako sa klijentima, tako i sa bankama. Uspeli smo da povećamo tržišna učešća i da postignemo rekordnu profitabilnost.

U 2014. godini produžavamo integraciju sa grupom kroz uvođenje novih procedura, standarda i proizvoda. Takođe, nastavljamo sa fokusom na korišćenju globalnog Sberbank brenda za uspostavljanje komunikacije sa svetskim bankama, a u cilju povećanja prometa i profitabilnosti.

Analiza poslovanja

U 2013. IT sektor banke je aktivno doprineo i uspešno sledio razvoj

banke kroz uvođenje modernih rešenja u IT sektoru, prvenstveno orijentisanih na klijente banke, čime su ispunjene njihove potrebe. Banka se fokusira na povećanje efikasnosti i dalje poboljšanje kvaliteta usluga koje se nude klijentima, prvenstveno kroz sledeće informatičke aktivnosti:

• Aktivnu podršku u dovođenju mreže ekspozitura na napredni tehnički nivo, po standardima grupe• Sprovođenje sofisticiranog rešenja za upravljanje kolateralima• Interni razvoj aplikacija koje efikasno podržavaju poslovne procese koji se odvijaju u banci• Sprovođenje raznih dodatnih funkcionalnosti unutar glavnog bankarskog sistema usmerenih na podizanje njegove funkcionalnosti• Uvođenje moderne platforme za trgovanje – MUREX.

2013. godina je za zaposlene značila prelazak sa jedne kulture rada na drugu. Promene su bile brojne,

kako u menadžmentu banke tako i u organizacionoj šemi. Našim zaposlenima je data prilika da sa ovim promenama uče, razvijaju se kao rukovodioci i učestvuju u projektima na nivou Sberbank grupe.

Ispitivanje zadovoljstva zaposlenih sporovedeno početkom 2013. godine je bilo tema na kojoj se radilo tokom cele godine. Uveli smo „Go Green“ kutak za ideje. Na radionicama smo, zajedno sa zaposlenima razmatrali predloge i radili na njima tokom godine.Plan za narednu godinu je razvoj višeg

i srednjeg menadžmenta, kontinuirani rad na akcionim koracima proizašlim iz istraživanja zadovoljstva zaposlenih i dalje unapređivanje funkcije same službe.

Odeljenje marketinga i komunikacija je i u 2013. godini promovisalo novi

Sberbank brend na domaćem tržištu putem elektronskih, outdoor i štampanih medija. Uspešno je organizovana „brand image“ kampanja kako bi se novi bankarski brend predstavio u javnosti. Takođe je uspešno realizovana i kampanja za hero proizvod – kredit za refinansiranje.U započetom procesu rebrendiranja ekspozitura uzeto je aktivno učešće i organizovano je otvaranje prvih sedam ekspozitura koje su u potpunosti renovirane u skladu sa Sberbank korporativnim standardima.

I pored stalnog trenda smanjenja medijskog prostora jer je određeni broj štampanih i elektronskih medija ugašen, održana je odlična komunikacija sa svim relevantnim medijima. Kroz PR aktivnosti obezbeđena je kontinuirana prisutnost banke kroz intervjue, izjave i komentare na svim relevantnim televizijskim stanicama sa nacionalnom frekvencijom, u najtiražnijim novinama i specijalizovanim časopisima kao i na velikom broju veb sajtova na internetu. Medijski su ispraćeni svi novi proizvodi banke kao i aktivnosti banke prilikom niza sklopljenih sporazuma.Sve ovo je rezultiralo održanjem istog nivoa PR objava banke u medijima kao i prethodnih godina.

Poslovanje sa privredom Informacione tehnologije

Ljudski resursi

Sektor tržišta

Marketing i komunikacije


sberbank.rs | Analiza poslovanja Analiza poslovanja | sberbank.rs

Pokazatelji poslovanja 31.12.2013 PropisanoKapital EUR 95.788.982 min.EUR 10.000.000Adekvatnost kapitala 19,89% min. 12%Pokazatelj ukupnih ulaganja u lica koja nisu u finansijskom sektoru i osnovna sredstva 3,11% max.60%Izloženost prema licima povezanim sa Bankom u odnosu na kapital 2,81% max 20%Pokazatelj zbira velikih izloženosti banke 86,85% max. 400%Pokazatelj likvidnosti – decembar 2,46 min. 1Pokazatelj deviznog rizika 0,99% max. 20%

Analiza poslovanja

Upravljanje rizicima

Tokom 2013. godine Sberbank Srbija je nastavila sa razvojem i jačanjem funkcije

upravljanja rizicima. Poseban akcenat je bio na kreiranju i izmeni modela, procesa i postupaka u oblasti kreditiranja privrede i stanovništva, sa ciljem da se s jedne strane unapredi upravljanje kreditnim rizikom a sa druge strane unapredi kvalitet usluga klijentima banke.

U pogledu konstantnog trenda rasta nenaplativih kredita na tržištu Srbije tokom 2013. godine, snažan fokus je stavljen na dalji razvoj funkcija naplate i restruktuisanja potraživanja.Bez obzira na navedene negativne trendove, visok iznos kapitala i visok pokazatelj adekvatnosti kapitala omogućava banci da adekvatno pokrije sve rizike kojima je izložena i predstavlja jaku bazu za dalji planirani razvoj i rast.

Na dan 31. decembra 2013. godine, svi pokazatelji Banke su usaglašeni sa propisanim vrednostima, a u skladu sa zahtevima Narodne banke Srbije koji su propisani u Odluci o adekvatnosti kapitala banke (“Službeni glasnik Republike Srbije“, br. 46/2011 i 6/2013) i Odluci o upravljanju rizicima (“Službeni glasnik Republike Srbije“, br. 45/2011, 94/2011, 119/2012 i 123/2012).

Finansijski izveštaj

Sberbank Srbija a.d.12

sberbank.rs | Analiza poslovanja

U hiljadama dinara 2013. 2012.

Prihodi od kamata 6.113.456 5.605.076

Rashodi kamata (1.616.160) (1.709.822)

Dobitak po osnovu kamata 4.497.296 3.895.254

Prihodi od naknada i provizija 997.282 749.194

Rashodi naknada i provizija (101.670) (75.240)

Dobitak po osnovu naknada i provizija 895.612 673.954Neto gubitak po osnovu prodaje hartija od vrednosti koje su raspoložive za prodaju - (84)

Neto prihodi od kursnih razlika 421.360 395.064

Ostali poslovni prihodi 36.068 14.599Neto rashodi po osnovu indirektnih otpisa plasmana i rezervisanja (2.007.912) (1.276.974)

Troškovi zarada, naknada zarada i ostali lični rashodi (1.084.552) (921.402)

Troškovi amortizacije (133.316) (140.970)

Operativni i ostali poslovni rashodi (1.565.115) (1.283.370)

Prihodi od promene vrednosti imovine i obaveza 4.187 739

Rashodi od promene vrednosti imovine i obaveza (315) (6.696)

Rezultat perioda – Dobitak pre oporezivanja 1.063.313 1.350.114

Porez na dobit (51.324) (142.617)Dobitak od kreiranih odloženih poreskih sredstava i smanjenja odloženih poreskih obaveza 2.240 18.989

Dobitak 1.014.229 1.226.486

Zarada po akciji (u dinarima bez para) 166 212

U hiljadama dinara 2013. 2012

AKTIVAGotovina i gotovinski ekvivalenti 9.201.657 7.822.042Opozivi depoziti i krediti 7.796.589 12.419.975Potraživanja po osnovu kamata, naknada, prodaje, promene fer vrednosti derivata i druga potraživanja 1.327.945 1.394.899Dati krediti i depoziti 69.987.379 69.346.673Hartije od vrednosti (bez sopstvenih akcija) 8.722.397 8.254.409Udeli (učešća) 145 199Ostali plasmani 1.137.232 1.979.285Nematerijalna ulaganja 153.051 134.713Osnovna sredstva i investicione nekretnine 341.851 184.335Odložena poreska sredstva 34.088 31.848Ostala sredstva 720.009 315.998

UKUPNA AKTIVA 99.422.343 101.884.376

OBAVEZETransakcioni depoziti 10.946.365 9.153.509Ostali depoziti 22.255.647 20.148.529Primljeni krediti 36.872.336 44.612.187Obaveze po osnovu hartija od vrednosti 1.921 5.547Obaveze po osnovu kamata, naknada i promene fer vrednosti derivata 17.616 28.193Rezervisanja 530.363 447.963Obaveze za poreze 17.853 12.078Obaveze iz dobitka - -Ostale obaveze 7.207.712 6.946.695

Na dan 31. decembra 2013. godine Na dan 31. decembra 2013. godine

Bilans uspeha Bilans stanja


Bilans stanja | sberbank.rssberbank.rs | Bilans uspeha

U hiljadama dinara 2013. 2012.AKCIJSKI KAPITALStanje na početku godine 6.102.144 5.774.153Ukupna povećanja u tekućoj godini - 327.991Stanje na kraju godine 6.102.144 6.102.144EMISIONA PREMIJAStanje na početku godine 8.718.817 7.904.743Ukupna povećanja u tekućoj godini - 814.074Stanje na kraju godine 8.718.817 8.718.817REZERVE IZ DOBITI I OSTALE REZERVEStanje na početku godine 4.459.838 2.963.165Ukupna povećanja u tekućoj godini 1.226.486 4.459.543Ukupna smanjenja u tekućoj godini - (2.962.870)Stanje na kraju godine 5.686.324 4.459.838REVALORIZACIONE REZERVEStanje na početku godine 27.937 14.113Ukupna povećanja u tekućoj godini 52.937 27.937Ukupna smanjenja u tekućoj godini (27.937) (14.113)Stanje na kraju godine 52.937 27.937NEREALIZOVANI GUBICI PO OSNOVU HOV RASPOLOŽIVIH ZA PRODAJUStanje na početku godine (5.547) (19.766)Ukupna smanjenja u tekućoj godini 3.626 14.219Stanje na kraju godine (1.921) (5.547)DOBITAKStanje na početku godine 1.226.486 1.496.673Ukupna povećanja u tekućoj godini 1.014.229 1.226.486Ukupna smanjenja u tekućoj godini (1.226.486) (1.496.673)Stanje na kraju godine 1.014.229 1.226.486UKUPNOStanje na početku godine 20.529.675 18.133.081Ukupna povećanja u tekućoj godini 2.293.652 6.856.031Ukupna smanjenja u tekućoj godini (1.250.797) (4.459.437)

Stanje na kraju godine 21.572.530 20.529.675

UKUPNO OBAVEZE 77.849.813 81.354.701KAPITALKapital 14.820.961 14.820.961Rezerve iz dobiti 5.686.324 4.459.838Revalorizacione rezerve 52.937 27.937Nerealizovani gubici po osnovu hartija od vrednosti raspoloživih za prodaju (1.921) (5.547)Dobitak 1.014.229 1.226.486

UKUPAN KAPITAL 21.572.530 20.529.675

UKUPNO PASIVA 99.422.343 101.884.376

VANBILANSNE POZICIJE 178.583.956 143.191.756

Na dan 31. decembra 2013. godine

Bilans stanja

Na dan 31. decembra 2013. godine

Izveštaj o promenama na kapitalu

U hiljadama dinara 2013. 2012.


Izveštaj o promenama na kapitalu | sberbank.rssberbank.rs | Bilans stanja

U hiljadama dinara 2013. 2012.Tokovi gotovine iz poslovnih aktivnostiPrilivi gotovine iz poslovnih aktivnosti 7.072.712 6.190.213Prilivi od kamata 6.084.961 5.188.421Prilivi od naknada 960.838 992.652Prilivi po osnovu ostalih poslovnih prihoda 26.913 9.140

Odlivi gotovine iz poslovnih aktivnosti (3.784.240) (3.680.364)Odlivi po osnovu kamata (1.361.485) (1.619.121)Odlivi po osnovu naknada (101.726) (79.061)Odlivi po osnovu bruto zarada, naknada zarada i drugih ličnih rashoda (1.079.036) (921.402)Odlivi po osnovu poreza, doprinosa i drugih dažbina na teret prihoda (165.627) (147.199)Odlivi po osnovu drugih troškova poslovanja (1.076.366) (913.581)

Neto priliv gotovine iz poslovnih aktivnosti pre povećanja ili smanjenja u plasmanima i depozitima 3.288.472 2.509.849

Smanjenje plasmana i povećanje uzetih depozita 6.167.547 15.291.788Smanjenje kredita i plasmana bankama i komitentima 1.994.550 -Povećanje depozita od banaka i komitenata 4.172.997 12.148.227Smanjenje hartija od vrednosti po fer vrednosti kroz bilans uspeha, plasmana kojima se trguje i kratkoročnih hartija od vrednosti koje se drže do dospeća - 3.143.561

Povećanje plasmana i smanjenje uzetih depozita - (15.064.565)Povećanje kredita i plasmana bankama i komitentima - (15.064.565)Smanjenje depozita od banaka i komitenata - -

Neto priliv gotovine iz poslovnih aktivnosti pre poreza na dobit 9.456.019 2.737.072Plaćeni porez na dobit (179.279) (215.009)

Neto priliv gotovine iz poslovnih aktivnosti 9.276.740 2.522.063

U hiljadama dinara 2013. 2012.Tokovi gotovine iz aktivnosti investiranja

Prilivi gotovine iz aktivnosti investiranja - 68Prilivi od prodaje udela (učešća) - 68

Odlivi gotovine iz aktivnosti investiranja (308.566) (88.413)Odlivi za kupovinu nematerijalnih ulaganja i osnovnih sredstava (308.566) (88.413)

Neto odliv gotovine iz aktivnosti investiranja (308.566) (88.345)

Tokovi gotovine iz aktivnosti finansiranjaPrilivi gotovine iz aktivnosti finansiranja - 2.848.836Prilivi po osnovu uvećanja kapitala - 1.142.065Neto prilivi gotovine po osnovu subordiniranih obaveza - 1.706.771Neto prilivi gotovine po osnovu uzetih kredita - -

Odlivi gotovine iz aktivnosti finansiranja (7.794.373) (417.335)Neto odlivi gotovine po osnovu uzetih kredita (7.303.525) (417.298)Neto odlivi po osnovu hartija od vrednosti (490.848)) -Ostali odlivi iz aktivnosti finansiranja - (37)

Neto odliv gotovine iz aktivnosti finansiranja (7.794.373) 2.431.501

Svega neto prilivi gotovine 13.240.259 24.330.905

Svega neto odlivi gotovine (12.066.458) (19.465.686)

Neto povećanje gotovine 1.173.801 4.865.219

Gotovina na početku godine 7.822.042 2.884.346

Pozitivne kursne razlike 871.239 966.050

Negativne kursne razlike (665.425) (893.573)

Gotovina na kraju perioda (Napomena 17) 9.201.657 7.822.042

Na dan 31. decembra 2013. godine Na dan 31. decembra 2013. godine

Izveštaj o tokovima gotovine Izveštaj o tokovima gotovine


Izvestaj o tokovima gotovine | sberbank.rssberbank.rs | Izveštaj o tokovima gotovine

Akcionarima Sberbank Srbija a.d., Beograd

Izveštaj nezavisnog revizora Godišnji izveštaj Upravnog odbora

Izvršili smo reviziju finansijskih izveštaja Sberbank Srbije a.d., Beograd (u daljem tekstu: „Banka“) koji obuhvataju bilans stanja na dan 31.decembra 2013. godine, bilans uspeha, izveštaj o promenama na kapitalu i izveštaj o tokovima gotovine 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 propisima Narodne banke Srbije 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 revizoraNaša je odgovornost da izrazimo mišljenje o priloženim 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 zasnovan je na procenama revizora pri čemu je u obzir uzeta i ocena rizika postojanja materijalno značajnih pogrešnih iskaza u finansijskim izveštajima nastalih usled prevare ili greške. Prilikom procene ovih rizika, revizor razmatra i interne kontrole

bitne za pripremu i objektivno prikazivanje finansijskih izveštaja pravnog lica, 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.

Mišljenje

Po našem mišljenju, finansijski izveštaji prikazuju objektivno i istinito finansijsko stanje Banke na dan 31.decembra 2013.godine i rezultate njenog poslovanja i novčane tokove za godinu koja se završila na taj dan, u skladu sa Zakonom o računovodstvu i propisima Narodne banke Srbije koji regulišu finansijsko izveštavanje banaka.

U Beogradu, 14. marta 2014.godine

Tokom 2013. godine, Upravni odbor je održao četiri redovne sednice i doneo 20 pisanih odluka između sednica. Na ovim sednicama, Izvršni odbor je izvestio Upravni odbor o poslovanju Sberbank Srbija a.d. Beograd. Upravni odbor je razmatrao izveštaje o poslovnim aktivnostima, bilans stanja i bilans uspeha i predloge podnete od strane Izvršnog odbora i na osnovu toga doneo odgovarajuće odluke.

Finansijski izveštaj Sberbank Srbija a.d. Beograd na dan 31.12.2013. godine je revidiran od strane Preduzeća za reviziju Ernst & Young d.o.o. Beograd. Prilikom njihove analize, revizori nisu imali nalaze te su u skladu sa tim dali mišljenje bez rezerve. Odbor za reviziju Sberbank Srbija a.d. Beograd je razmotrio finansijske izveštaje i predložio njihovo usvajanje Upravnom odboru i Skupštini akcionara Banke.

Prema IFRS, profit pre oporezivanja za 2013. godinu iznosio je 1.063.313 hiljada dinara (9,5 miliona evra).

Na kraju, Upravni odbor želi da se zahvali svim zaposlenima Sberbank Srbija a.d. Beograd na njihovom velikom trudu uloženom tokom prethodne godine, posebno što se tiče odlične realizacije planova i ciljeva za širenje aktivnosti banke u 2013. godini

Draško Popović

Ovlašćeni revizor

Stephen Fish

Ernst&Young d.o.o., Beograd


Godišnji izveštaj Upravnog odbora | sberbank.rssberbank.rs | Izveštaj nezavisnog revizora

About Sberbank andSberbank Europe

As an important part of one of the largest, fastest growing and dynamic

banking organisations in the world – we at Sberbank Europe aspire to be recognised as a game-changing innovator, an emerging leader in CEE banking with growing presence and recognition in Western Europe. Sberbank Europe AG manages a banking network of nine universal banks in eight Central and Eastern European countries: Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Bosnia-Herzegovina, Serbia, and the Ukraine. In total the bank operates with 280 branches and has 4.500 employees (as at 31.12.2013).

In 2013 a lot of positive changes happened throughout Sberbank Europe and its subsidiaries in Central and Eastern Europe. We have started a fundamental transformation and integration program to benefit from the synergies as a member of one of the leading banking groups worldwide.

One of the most visible achievements was the introduction of the Sberbank brand to all our markets. During the year we have rebranded all of our branches as well as expanded our network. This change is more than a color change. It’s a fundamental re-look of products, processes and customer experience.

Understanding and addressing the financial needs of our customers is our #1 priority. We have introduced new products and services that enable our customers to fulfill their aspirations – for their private lives, for their own small and medium enterprises or for large corporate businesses. We will continue to bring innovative products and services to our markets.

Sberbank is one of the most successful financial institutions in the world and a leading market player in delivering innovative products based on excellence

and state-of-the-art technology. Combined with the local expertise and customer focus of our employees, Sberbank Europe is building bridges to Eastern business and is a unique banking partner in the CEE region, Russia, the CIS countries and Turkey.

We are proud that in 2013 Sberbank continues to be recognized the “Best Bank in CEE and Russia” by the Euromoney magazine, another recognition after being named “Bank of the Year 2012” by the Banker magazine.

We aim to become the #1 financial partner in Central and Eastern Europe by further developing ourselves and our operations for the benefit of our customers.

Czech Republic

Slovakia

Ukraine

Austria

Hungary

SloveniaCroatia

Bosnia and Herzegovina Serbia

Godišnji izveštaj 2013 23

Sberbank intro | sberbank.rs


sberbank.rs | Sberbank intro

22

Foreword of The Executive Board

Dear clients, shareholders and friends ofSberbank Serbia, in 2013 we became

established as a universal bank, providing a wide range of banking services to all type of clients. Sberbank Serbia expanded its banking business in 2013 in the retail segment by becoming a partner and co-owner in the Supercard loyalty program, the first loyalty program in Serbia, offering special services and conditions for program members. In the corporate segment Sberbank Serbia built up its large corporate portfolio through cooperation with large Serbian companies and increased its fee business including Global markets business. The bank showed excellent results in this segment and a further increase is expected by offering better service and products.

Sberbank Serbia, bringing a new philosophy of banking business to the domestic financial market, ended 2013 with a profit of 9.5 million EUR.

• Total assets reached 868 million EUR• Loans retained a high level of disbursed loans with 300 million EUR in retail and 371 million EUR in the corporate sector where cross border loans recorded growth of 17%;• Deposits increased volume by 16% and reached 256 million EUR• Complete novelty in banking services in the Serbian market - payments in Russian rubles - reached 1, 1 billion rubles in 2013 year.

In 2013, we have rebranded our whole branch network and along with the modernization of our branches, same processes are applied in our internal operations and we have reached a level of lean processes and fast response to market changes and demands. 17% increase in the total number of clients in 2013, 6th place among banks in Serbia in

profit per employee and 5th place in profit per branch (4Q of 2013) is a clear example for our new approach.

Our plans are aimed at further development and organic growth which will be achieved by a continued expansion in the number of branches in our branch network in the near future. We are here to stay, to grow and to be close to our clients so that we can react fast and flexible to their needs and create appropriate and useful products and services.


Foreword of The Executive Board | sberbank.rssberbank.rs | Foreword of The Executive Board

Retail division continued with successful operations during the 2013. To stress

the importance of this segment of the Bank and further improved growth and development, Ms. Marijana Vasilescu as a new member of the Executive Board is appointed, particularly responsible for this segment.

In addition to the evident growth of all indicators of retail operations (loan and deposit portfolios, the number of customers, invoices, cards, etc.), more intensive growth is planned in the next year through agreed and planned partnership with Super card at the beginning of 2014.

Main pillars for developing retail will be through: 1. Upgrading of client acquisition channels

via branch network, partnerships and alternative channels;

2. Product line extension;3. Marketing Support.

Our product proposition will mainly be driven by simple and transparent product solutions, customer service and convenience.

During July 2013 first branch of Sberbank in Serbia was opened. Process of transformation from the old look branch to the new layout has continued throughout the 2013 and planned to be completed by the end of the 2014.

Operating profitability of retail segment (Contribution Margin I) in 2013 amounted 4.6 million EUR, which is a reflection of applied innovation, especially in terms of loan and deposit products, as logical consequence of the long term quality orientation towards quality satisfaction of clients financial needs.

It is important to emphasize that the retail loans and loans to entrepreneurs and small businesses increased by 31% compared to the previous year and increase of deposit portfolio by 24% is achieved.Confirmation of employees commitment to increasing efficiency, besides the above mentioned parameters, we validated through several indicators of changes in relation to the year 2012:

• Improving the base of active clients by 17%• Increasing the number of transactions of domestic payments by 24%• Increasing the number of international payment transactions by 26%• Increase in the number of credit cards by 16%, etc. It is important to note that these performances are achieved without increasing the number of branches (26) and employees and that they are reflection of commitment of the bank to increase the efficiency and organic growth in the future.

Key facts2004 - 2013

Lines of business

Retail sector


sberbank.rs | Key facts Lines of business | sberbank.rs

Lines of business Lines of business

2013 has been extremely challenging and demanding for the Serbian economy.

The problems facing the economy, as well as the negative circumstances that have had a strong impact on the entire macroeconomic environment, were reflected in the operations of the banking sector in Serbia. Nevertheless, Sberbank managed to submit an extremely good result and take the position that will enable the achievement of the ambitious plans for the future. The Bank has positioned itself as a reliable and stable partner of the Serbian economy with special focus on the customers who come from the CIS or cooperate with them.

As a result of these efforts growth in the number of clients was recorded, which further influenced on a significant increase in domestic and international payment transactions through accounts opened at the bank, while the buying and selling of foreign currency exceeded the most optimistic expectations.

In the 2014 we expect further stabilization of the portfolio and raising profitability through the introduction of new products, more efficient organization, which was set in the previous year, as well as the intensification of cooperation with Sberbank group members. In addition to the expected growth of the portfolio, the 2014 will be a year of further focusing on deposits in order to reduce the L/D ratio. In order to achieve the objectives full attention will be devoted to the development and education of people who are a basic resource.

2013 was marked by stagnation of Dinar (with occasional larger movements),

and this trend and exchange rate stability brought positive developments in the market.During the first half of the year, dinar got stronger to the level of 110 dinars for one euro, and in the second half of the year, the dinar weakened and reached levels from the beginning of the year, to 114 dinars per 1 euro. Nominally, the dinar depreciated by only 0.8 %.

Trend of renewed interest of international clients for Serbian government papers that started at the end of 2012, continued throughout the 2013.

As demand for these securities grew, the market reacted, so that at the end of the year, prices of bonds fell to levels that were not recorded during the last 5 years.

National Bank has also followed this trend by lowering of the Reference interest rate. From the 11.75% level, recorded in February 2013, dropped to 9.5 %.

In 2013 we have significantly increased volumes we had in trading with clients as well as with the banks. We were able to increase our market share and to achieve record profitability.

In 2014 we shall extend integration with the group through the introduction of new procedures, standards and products. In addition, we continue to focus on the use of Sberbank global brand to establish communication with the International banks, in order to increase traffic and profitability.

In 2013, the Bank’s IT sector actively contributed and successfully followed

bank’s development through introduction of modern solutions in IT sector, primarily oriented towards bank’s clients, thus meeting their needs.

Bank puts a main focus in efficiency increase, while further improving quality of services offered to clients, primarily through following IT activities:

• Active support in bringing of branch network to advanced technical level, as per group standards• Implementing of sophisticated solution for Collateral Management• Internal development of applications that efficiently support business process which runs inside the bank• implementation of various additional functionalities within the main banking system aimed in raising of its functionality• Implementation of modern trading platform MUREX

2013. was a year of moving from one culture to another for employees.

The changes were numerous, both in the management of the bank and in the organizational chart. Our employees are given the opportunity to learn from these changes, evolve as managers and participate in projects on Sberbank Group level.Employee satisfaction survey was realized at the beginning of 2013 and has been a working topic throughout the year. We introduced the „Go Green” playground for ideas. At the workshops, together with the employees, we discussed the proposals

and worked on them during the year. The plan for the coming year is to develop senior and middle management, continuous work on the action steps resulting from employee satisfaction surveys and further improvement of the service functions.

Marketing and Communications department in 2013 promoted new

Sberbank brand in the domestic market through electronic, print and outdoor media.„Brand image” campaign was successfully organized in order to unveiled new banking brand to public. Campaign for hero product - a loan for refinancing was also successfully implemented. In the ongoing process of rebranding of branches active participation was taken in organizing of the opening of the first seven branches which were completely renovated in line with Sberbank corporate standards.Despite the continuous decreasing trend of the media space, because a certain number of print and broadcast media was shut down, there was excellent communication with all relevant media. Through PR activities continuous presence of the bank was ensured through interviews, statements and comments on all relevant television stations with national frequency, the most circulated newspapers and specialized magazines as well as on a number of web sites on the Internet. Media covered all the new products and bank activities.All this has resulted in the maintenance of the same level of PR of bank disclosure in the media as in previous years.

Corporate sector ITGlobal Markets

Human resources

Marketing and communications


Lines of business | sberbank.rssberbank.rs | Lines of business

Lines of business

Risk management

During the 2013 Sberbank Serbia has continued to develop and

strengthen risk management function. Particular emphasis was on the creation and modification of models, processes and procedures in the area of loans disbursement to corporate sector and private individuals and with the aim to improve the credit risk management on the one hand, and on other hand to improve the quality of services to clients of the bank.

In terms of constant growth trend of non-performing loans in Serbia during the 2013, a strong focus is placed on the further development of the functions of collection and restructuring of claims. Regardless of these negative trends, a high amount of capital and a high capital adequacy ratio enables the bank to adequately cover all risks to which it is exposed, and represents a strong base for further planned development and growth.

Financial Statements

Performance indicators 31.12.2013 Regulatory requirementCapital EUR 95.788.982 min.EUR 10.000.000Capital adequacy ratio 19,89% min. 12%Permanent investments indicator 3,11% max.60%Related parties exposure 2,81% max 20%Indicator of large and the largest permissible 86,85% max. 400%Liquidity ratio 2,46 min. 1Foreign currency risk indicator 0,99% max. 20%

As at 31 December, 2013 all indicators of the Bank are in compliance with prescribed performance indicators in accordance with requirements of the National Bank of Serbia, set out in the Decision on the capital adequacy of the banks (Official Gazette of the Republic of Serbia, no. 46/2011 and 6/2013) and Decision on risk management by banks (Official Gazette of the Republic of Serbia, no. 45/2011, 94/2011, 119/2012 and 123/2012).

Sberbank Srbija a.d.30

sberbank.rs | Lines of business

In RSD thousand 2013. 2012.

Interest income 6.113.456 5.605.076

Interest expenses (1.616.160) (1.709.822)

Net interest income 4.497.296 3.895.254

Fee and commission income 997.282 749.194

Fee and commission expenses (101.670) (75.240)

Net fee and commission income 895.612 673.954Net loss on sell of securities available for sale - (84)

Net foreign exchange gains 421.360 395.064

Other operating income 36.068 14.599Impairment losses of financial assets and provisions, net (2.007.912) (1.276.974)

Salaries, wages and other personal expenses (1.084.552) (921.402)

Depreciation and amortization (133.316) (140.970)

Other operating expenses (1.565.115) (1.283.370)

Gains from changes in value of assets and liabilities 4.187 739

Losses from changes in value of assets and liabilities (315) (6.696)

Profit before tax 1.063.313 1.350.114

Income tax (51.324) (142.617)

Deferred tax income 2.240 18.989

Profit 1.014.229 1.226.486

Earnings per share (in RSD) 166 212

In RSD thousand 2013. 2012

ASSETSCash and cash equivalents 9.201.657 7.822.042Revocable deposits and loans 7.796.589 12.419.975Interest and fee receivables, receivables from sales, changes in fair value of derivatives and other receivables 1.327.945 1.394.899Loans and advances 69.987.379 69.346.673Securities (excluding own shares) 8.722.397 8.254.409Equity investments 145 199Other placements 1.137.232 1.979.285Intangible assets 153.051 134.713Property, equipment and investment property 341.851 184.335Deferred tax assets 34.088 31.848Other assets 720.009 315.998

TOTAL ASSETS 99.422.343 101.884.376

LIABILITIESTransaction deposits 10.946.365 9.153.509Other deposits 22.255.647 20.148.529Borrowings 36.872.336 44.612.187Liabilities arising from securities 1.921 5.547Liabilities arising from interest, fees and changes in fair value of derivatives 17.616 28.193Provisions 530.363 447.963Tax liabilities 17.853 12.078Liabilities from profit - -Other liabilities 7.207.712 6.946.695

For the year ended 31 December 2013 For the year ended 31 December 2013

Income statement Balance sheet


sberbank.rs | Income statement Balance sheet | sberbank.rs

TOTAL LIABILITIES 77.849.813 81.354.701EQUITYShare capital 14.820.961 14.820.961Reserves from profit 5.686.324 4.459.838Revaluation reserves 52.937 27.937Unrealized losses arising on securities available for sale (1.921) (5.547)Retained earnings 1.014.229 1.226.486

TOTAL EQUITY 21.572.530 20.529.675

TOTAL LIABILITIES AND EQUITY 99.422.343 101.884.376

OFF-BALANCE SHEET ITEMS 178.583.956 143.191.756

For the year ended 31 December 2013

Balance sheet

For the year ended 31 December 2013

Statement of changes in shareholders’ equity

In RSD thousand 2013. 2012.SHARE CAPITALBalance at the beginning of the year 6.102.144 5.774.153Total increase during the year - 327.991Balance at the end of the year 6.102.144 6.102.144SHARE PREMIUMBalance at the beginning of the year 8.718.817 7.904.743Total increase during the year - 814.074Balance at the end of the year 8.718.817 8.718.817RESERVES FROM PROFIT AND OTHER RESERVESBalance at the beginning of the year 4.459.838 2.963.165Total increase during the year 1.226.486 4.459.543Total decrease during the year - (2.962.870)Balance at the end of the year 5.686.324 4.459.838REVALUATION RESERVESBalance at the beginning of the year 27.937 14.113Total increase during the year 52.937 27.937Total decrease during the year (27.937) (14.113)Balance at the end of the year 52.937 27.937UNREALISED LOSSES ON SECURITIES AVAILABLE FOR SALEBalance at the beginning of the year (5.547) (19.766)Total decrease during the year 3.626 14.219Balance at the end of the year (1.921) (5.547)RETAINED EARNINGSBalance at the beginning of the year 1.226.486 1.496.673Total increase during the year 1.014.229 1.226.486Total decrease during the year (1.226.486) (1.496.673)Balance at the end of the year 1.014.229 1.226.486TOTALBalance at the beginning of the year 20.529.675 18.133.081Total increase during the year 2.293.652 6.856.031Total decrease during the year (1.250.797) (4.459.437)

Balance at the end of the year 21.572.530 20.529.675

In RSD thousand 2013. 2012.


sberbank.rs | Balance sheet Statement of changes in sahareholders’ equity | sberbank.rs

In RSD thousand 2013. 2012.Cash flow from operating activitiesCash inflow from operating activities 7.072.712 6.190.213Interest 6.084.961 5.188.421Fees 960.838 992.652Other operating income 26.913 9.140

Cash outflow from operating activities (3.784.240) (3.680.364)Interest (1.361.485) (1.619.121)Fees (101.726) (79.061)Salaries, wages and other personal expenses (1.079.036) (921.402)Taxes, contributions and other duties paid (165.627) (147.199)Other operating expenses (1.076.366) (913.581)

Net cash inflow from operating activities before increase or de-crease in placements and deposits 3.288.472 2.509.849

Decrease in placements and increase in taken deposits 6.167.547 15.291.788Decrease in loans and placements to banks and clients 1.994.550 -Increase in deposits with banks and clients 4.172.997 12.148.227Decrease in securities at fair value through profit and loss,Investments held for trading and short-term securities held to maturity - 3.143.561

Increase in placements and decreases in taken deposits - (15.064.565)Increase in loans and placements to bank and clients - (15.064.565)Decrease in deposits with banks and clients - -

Net cash inflow from operating activities before tax 9.456.019 2.737.072Income tax paid (179.279) (215.009)

Net cash inflow from operating activities 9.276.740 2.522.063

In RSD thousand 2013. 2012.Cash flow from investing activities

Cash inflow from investing activities - 68Inflow from sales of equity investments - 68

Cash outflow from investing activities (308.566) (88.413)Outflow from purchase of intangible and tangible fixed assets (308.566) (88.413)

Net cash inflow/(outflow) from investing activities (308.566) (88.345)

Cash flow from financing activitiesCash inflows from financing activities - 2.848.836Inflow from capital increase - 1.142.065Net inflow from subordinated liabilities - 1.706.771Net inflow from borrowings - -

Cash outflows from financing activities (7.794.373) (417.335)Net outflow from borrowings (7.303.525) (417.298)Net outflow from securities (490.848)) -Other outflows from financing activities - (37)

Net cash inflow/outflow from financing activities (7.794.373) 2.431.501

Total net cash inflow 13.240.259 24.330.905

Total net cash outflow (12.066.458) (19.465.686)

Net increase in cash 1.173.801 4.865.219

Cash at the beginning of the year 7.822.042 2.884.346

Foreign exchange gains 871.239 966.050

Foreign exchange losses (665.425) (893.573)

Cash at the end of the year (Note 17) 9.201.657 7.822.042

Cash flow statement Cash flow statementFor the year ended 31 December 2013 For the year ended 31 December 2013


Cash flow statemen | sberbank.rssberbank.rs | Cash flow statemen

To the shareholders of Sberbank Srbija JSC, Beograd

Independent auditor’s report Board of Directors annual report

We have audited the accompanying financial statements of Sberbank

Srbija a.d., Beograd (hereinafter referred as to: ”the Bank”), which comprise the balance sheet as of 31 December 2013, the 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 the Law on Accounting and regulations of the National Bank of Serbia governing the financial reporting of banks, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s ResponsibilityOur 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. These standards require that we respect ethical standards, plan and perform the audit to obtain reasonable assurance about whether the financial reports are free from material misstatements.

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 Bank’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.

Opinion

In our opinion, the financial statements give a true and fair view of the financial position of the Bank as at 31 December 2013, and of its financial performance and its cash flows for the year then ended in accordance with the Law on Accounting and regulations of the National Bank of Serbia governing the financial reporting of banks.

Belgrade, 14 March 2014

During 2013, the Board of Directors convened at four regular meetings and

passed 20 written resolutions between the meetings. During its meetings, the Board of Directors was fully informed by the Executive Board about the business operations of Sberbank Serbia Joint Stock Company Belgrade. The Board of Directors examined the reports on business activities, balance sheet, income statements and proposals submitted by the Executive Board and made appropriate decisions on that basis.

Sberbank Srbija Joint Stock Company Belgrade financial statements as of December 31, 2013, were audited by Auditing Enterprise Ernst & Young, Belgrade. In their examination, the auditors found no objections and accordingly issued an unqualified opinion. The Audit Committee of Sberbank Srbija Joint Stock Company Belgrade has reviewed the financial statements and proposed them for adoption to the Board of Directors and General Meeting of Shareholders.

Profit before taxes for the year 2013, according to IFRS, amounted to TRSD 1.063.313 (MEUR 9.9).

In conclusion, the Board of Directors would like to thank all staff members of Sberbank Srbija Joint Stock Company Belgrade for their great efforts during the past year, in particular for the excellent implementation of plans and realization of goals for expansion of the bank activities in 2013.

Draško Popović

Authorized auditor

Stephen Fish

Ernst&Young d.o.o., Beograd


Board of Directors annual report | sberbank.rssberbank.rs | independent auditor’s report

www.sberbank.rs

Početna | Sberbank - 2013 Annual... · 2017-08-14 · organizacija u svetu - mi u Sberbanci Evrope...

Documents

Transcript of Početna | Sberbank - 2013 Annual... · 2017-08-14 · organizacija u svetu - mi u Sberbanci Evrope...