godišnji izveštaj o poslovanju 2014

1Godišnji izveštaj o poslovanju 2014.

Godišnji izveštaj o poslovanju

2014

2 3Sberbank Srbija a.d. Godišnji izveštaj o poslovanju 2014.

5

Češka

Slovačka

Ukrajina

Austrija

Mađarska

SlovenijaHrvatska

Bosna iHercegovina Srbija

Nemačka

SadržajSberbank Srbija i Sberbank Evropa Uvodna reč Izvršnog odboraKljučni pokazatelji Makroekonomsko okruženje Analiza poslovnog razvoja i planovi za budućnost Poslovanje sa privredomPoslovanje sa stanovništvomMarketing i komunikacijeInformacione tehnologijeLjudski resursiZaštita životne sredine Događaji nakon završetka poslovne godine Upravljanje finansijskim rizicima Finansijski izveštaji Bilans uspehaBilans stanjaGodišnji izveštaj Upravnog odbora Organizaciona struktura

3 44

5-6 7-9

77999

1010-11 11-12

13 131415

16-17

Sberbank Srbija i Sberbank Evropa

Grupa Sberbank Evropa (Sberbank Europe AG), sa sedištem u Beču, Austrija, članica je bankarske grupacije koja je u 100%

vlasništvu Sberbank Rusije. Grupa Sberbank Evropa je prisutna na 11 tržišta u Evropi: u Austriji, Bosni i Hercegovini (Sarajevo i Banja Luka), Hrvatskoj, Češkoj, Mađarskoj, Slovačkoj, Sloveniji, Srbiji, Ukrajini i Nemačkoj. Banka ukupno posluje u 294 ekspoziture i ima 5,157 zaposlenih (na dan 31. 12. 2014).

Zbog krize u Ukrajini, 2014. godina bila je obeležena izazovima kako u političkom, tako i u ekonomskom okruženju. Za razliku od matične banke Sberbank Rusija, koja je pod sankcijama, Sberbank Evropa i njene članice u zemljama Evropske unije nisu podvrgnute sankcijama i, shodno tome, nisu ograničene u svom pristupu tržištu kapitala Evropske unije. U martu 2014. godine neke od najpoznatijih svetskih banaka su prvi put ponudile sindikovanu kreditnu liniju za grupu Sberbank Evropa u iznosu od 350 miliona evra, kako bi podržale nove poslove naročito sa velikim kompanijama.

Dobijanjem austrijske bankarske licence, u Nemačkoj je tokom leta 2014. godine otvorena Sberbank Direct, članica u 100% vlasništvu

Sberbank Evrope. Nemačka poslovnica je fleksibilan, brz i dobar izvor za finansiranje Sberbank Evrope, koji nudi depozite po atraktivnim uslovima. Ova ekspozitura je osnovana kao čista onlajn banka i nudi onlajn depozite isključivo za fizička lica putem direktnih kanala prodaje.

Pored navedenog, Sberbank Evropa je započela svoj put ka stvaranju nove zajedničke korporativne kulture. Ono što Sberbank Evropa predstavlja, iskazano je u okviru 3 načela: „Svi za klijenta. Mi smo tim. Ja sam lider”.

U svemu što radimo nastojimo da prevaziđemo očekivanja svojih klijenata. Zalažemo se za sticanje poverenja, trudimo se da unapredimo kulturu življenja, pomažući klijentima da ostvare svoje snove i težnje.

Uprkos svim našim uspesima, izazovi će se nastaviti u 2015. godini, a za Sberbank Evropu to znači da stalno mora da se prilagođava promenjivim uslovima. Stoga, nastavićemo da unapređujemo poslovni model grupe Sberbank Evropa, sa ciljem izgradnje održivog, profitabilnog, samofinansirajućeg sistema i moderne bankarske grupacije u Evropi.

Strana


2012 2013 2014

44%

Racio operativni troškovi kroz neto prihode iz poslovanja

43%48%

Ukupni depoziti klijenatau milionima RSD

2012 2013 2014

24,70528,137

35,852

Profit pre oporezivanja u milionima RSD

2012 2013 2014

1,350

1,063

1,612

Plasman kredita (bruto)u milionima RSD

2012 2013 2014

78,655

71,518

77,058

Uvodna reč Izvršnog odbora

Ključni pokazatelji2012-2014.

Makroekonomsko okruženje

Godinu 2014. u Srbiji je obeležio ulazak u recesiju. Bruto domaći proizvod (BDP) je opao za 1,8%, investicije za 2,7%, fiskalni

deficit dostigao je 6,6% BDP-a, dok je javni dug prešao 70% BDP-a. Problematični krediti su sa preko 20% učestvovali u ukupnim kreditima, dok su jaki deprecijacijski pritisci pretili da ugroze makroekonomsku stabilnost.

Tek u poslednjem kvartalu prošle i početkom 2015. godine zaustavljeni su ovi negativni trendovi, a u određenim segmentima je ostvareno poboljšanje. Tako je BDP porastao za 0,4%, industrijska proizvodnja takođe, a ostvaren je rast u građevinarstvu i trgovini na malo. Ovo poboljšanje je dobrim delom rezultat oporavka od poplava, međutim izvoz i investicije, glavni pokretači rasta, i dalje stagniraju, dok zalihe rastu.

Fiskalni deficit od početka 2015. godine snažno opada, kao rezultat mera fiskalne konsolidacije, suzbijanje sive ekonomije ali i jednokratnih faktora, koji, ako se isključe, pokazuju da su ostvareni rezultati za 2014. godinu približno na nivou planiranih, bez poboljšanja.

Deficit tekućeg platnog bilansa se u poslednjem kvartalu 2014. godine smanjio kao rezultat pada cena energenata i oporavka privrede od poplava, a očekivano je da će se poboljšanje nastaviti i u 2015. godini, pre svega, zbog fiskalne konsolidacije.

Narodna banka Srbije (NBS) smanjila je restriktivnost svoje monetarne politike u cilju stabilizovanja inflacije. Od sredine 2014. godine tokom većine meseci ostvarena je deflacija, dok su deprecijacijski pritisci zaustavljeni. Dok bi umerena deprecijacija dinara podstakala izvoz i destimulisala uvoz i tako podstakla rast BDP i zaposlenosti, dopušteno je da evro značajnije ojača u odnosu na dinar.

Potpisivanjem sporazuma sa MMF-om u vrednosti od 1,2 milijarde evra, uvećane su šanse da se ambiciozni planovi Vlade u pogledu ekonomske politike i reformi ostvare. Makroekonomski rizici, kao što su kriza javnog duga i platnobilansna kriza, bitno su umanjeni, a može se očekivati da će finansijska tržišta povoljno reagovati na potpisivanje stand-by sporazuma.

Sberbank Srbija nastoji da se pozicionira kao univerzalna banka koja ima rešenja za sve potrebe privrede i stanovništva.

U protekloj godini nastavili smo sa već tradicionalno dobrim performansama u saradnji sa privredom. Posebno želimo da istaknemo uspeh koji smo ostvarili u kampanji subvencionisanih kredita kada smo pružili podršku malim, srednjim i velikim preduzećima da ojačaju svoju likvidnost ili da dodatno investiraju pod povoljnim uslovima i na taj način još uspešnije završe poslovnu godinu.

Značajan rast smo postigli u segmentu poslovanja sa stanovništvom. Proširili smo mrežu ekspozitura i lansirali inovativne proizvode: Bonus kredit kojim se nagrađuje redovna otplata, Jednostavno tekući račun uz ponudu jedinstvenih 24/7 usluga, platnu SuperKarticu iz prestižnog MasterCard World programa sa opcijom beskontaktnog i plaćanja na rate.

Praćenje poslovne strategije zasnovane na održivom rastu i odgovornosti dovelo je do značajnog rasta broja klijenata, računa, broja kartica i plasmana fizičkim licima. Sve ovo bilo je moguće jedino uz izuzetne napore naših zaposlenih. Naročito se ponosimo činjenicom da smo tokom 2014. godine značajno uvećali broj zaposlenih i stavili akcenat na njihov razvoj i trening. Time smo pokazali naše opredeljenje da se dalje razvijamo i ulažemo u tržište Srbije.

Napredovali smo i u oblastima podrške, u operativnom sprovođenju i obradi naloga, transakcija i ugovora, kvalitetnoj proceni rizika koje preuzimamo, kao i finansijskom izveštavanju.

Želimo da se zahvalimo našim klijentima na poverenju i obećavamo još bolje usluge u budućnosti. Našim zaposlenima hvala na trudu koji ulažu kako bi Sberbank Srbija i dalje nizala uspehe.


Osnovni makroekonomski indikatori

Realni rast BDP-a u %

Potrošačke cene (u % u odnosu na isti mesec prethodne godine )

Devizne rezerve NBS (u mln evra)

Izvoz robe i usluga (u mln evra)

Stopa rasta u % u odnosu da godinu dana ranije

Uvoz robe i usluga (u mln evra)

Stopa rasta u % u odnosu na prethodnu godinu

Tekući račun platnog bilansa (u mln evra)

U % BDP-a

Nezaposlenost po Anketi (u %)

Zarade (prosečne za period, u evrima)

Republički budžetski deficit/ suficit (u % BDP-a)

Javni dug Republike Srbije (u % BDP-a)

Kurs dinara prema dolaru (prosek u periodu)

Kurs dinara prema dolaru (kraj perioda)

Kurs dinara prema evru (kraj perioda)

Konsolidovani fiskalni rezultat (u % BDP-a)

Kurs dinara prema evru (prosek u periodu)

2007

5.89

11.0

9,634.0

8,114

-

15,503

-

(5,320.3)

(18.1)

18.1

347.14

-1.62

-1.9

29.86

58.4

53.73

80.0

79.24

2008

5.37

8.6

8,162.0

9,577

18.0

18,267

17.8

(7,135.4)

(21.2)

13.6

400.50

-1.85

-2.6

28.34

55.8

62.90

81.4

88.60

2009

-3.12

6.6

10,601.8

8,041

(16.0)

13,098

(28.3)

(1,770.4)

(5.8)

16.1

337.37

-3.14

-4.4

32.79

67.5

66.73

94.0

95.89

2010

0.58

10.3

10,002.0

9,521

18.4

14,243

8.7

(2,081.9)

(7.0)

19.2

330.06

-3.27

-4.6

41.81

77.9

79.28

103.0

105.50

2011

1.40

17.1

11,147

12,057.7

7.0

(3,305.2)

15.8

16,497

-4.8

-3.89

372.50

23.0

(9.9)

73.3

45.40

102.0

80.87

104.64

2012

-1.02

3.0

16,993

3.2

11,498

10,915.0

12.2

(11.5)

(3,639.6)

-5.36

364.46

23.9

86.18

88.1

56.20

-6.8

113.72

113.1

2013

2.57

11,188.8

2.2

13,963

17,796

21.4

4.7

(2,092.0)

(6.1)

22.1

388.60

-4.48

-5.5

59.60

85.2

83.13

113.1

114.64

Q12014

-0.24

10,428.3

2.3

3.3

4,139

16.0

3,304

(540.2)

(7.1)

-8.11

361.40

20.8

-7.7

60.84

84.5

83.89

115.7

115.38

Q22014

-1.24

10,125.0

1.3

3,654

7.3

4,575

(496.0)

4.6

(6.0)

20.3

388.68

-4.67

84.3

61.63

-4.7

84.85

115.6

115.79

Q32014

2.1

-3.79

10,878.0

3,704

(5.7)

1.5

4,640

(6.1)

(508.4)

17.6

381.40

-2.38

67.94

-4.0

88.5

93.62

117.4

118.85

Q42014

1.7

-1.80

9,907.0

3,783

0,0

-2,1

4,741

(557.0)

96.3

120.3

120.96

99.46

(6.3)

16.8

-10.1

385.70

-3.50

70.87

Indikatori eksterne solventnosti (u %)

Indikatori izloženosti finansijskom riziku (u %)

Spoljni dug / BDP 72.2 80.9 75.2 75.2 75.0 78.8 78.7

Kratkoročni dug / BDP 12.0 14.5 11.7 11.8 11.2 11.0

Spoljni dug / Izvoz robe i usluga 216 223 185 178 173 183 180

Indikatori eksterne pozicije Srbije

Indikatori eksterne likvidnosti (u %)

Devizne rezerve / Uvoz robe i usluga (u mesecima)

2011 2012 2013Q12014

Q22014

Q32014

Q42014

8.8 7.7 7.5 7.0 6.7 7.2 6.6

Devizne rezerve / Kratkoročni dug 300 238 278 260 267 294

Devizne rezerve / BDP 36.1 34.5 32.7 30.6 30.0 32.5 29.8

Otplata duga / BDP 12.5 13.1 13.2 13.1 13.0 10.7 17.9

Otplata duga / Izvoz robe i usluga 37.5 36.2 32.9 30.3 30.2 24.0 41.1

Devizne rezerve / M1 429.6 402.1 330.4 335.3 293.1 310.8 278.0

Devizne rezerve / Primarni novac 207.6 197.9 199.9 192.8 191.8 199.8 195.7

Stepen otvorenosti ekonomije (izvoz + uvoz)/ BDP

59.0

13.1

214

2007

7.5

251

32.7

10.3

37.5

306.7

173.8

80.2

62.3

14.9

219

2008

5.4

163

24.2

10.7

37.5

300.4

140.7

82.6

72.7

15.7

277

2009

9.7

221

34.6

12.8

48.8

393.4

190.5

69.0

79.0

17.6

247

2010

8.4

191

33.6

12.0

37.4

416.6

196.4

79.8 82.7 89.9 92.7 97.4 98.9 99.3 96.1

286

10.5

Kreditni rejting

S&P

2011 2012 2013

Fitch

Moody’s

2007 2008 2009 2010

Jun Dec Dec Nov Mar Avg Jul Jan

2014

BB-/ stabilan BB-/ negativan

BB-/ negativan

BB-/ stabilan

BB-/ stabilan

BB-/ stabilan BB-/ negativan

BB-/ negativan B+/ stabilan

B1/ stabilan

Analiza poslovnog razvoja i planovi za budućnost

U segmentu poslovanja sa privredom u 2014. godini, Sberbank Srbija ostvarila je izuzetno

dobar rezultat i nadmašila sva očekivanja uprkos teškim uslovima poslovanja, kako na tržištu Srbije, tako i u međunarodnom okruženju.

Uspešno je sprovedena optimizacija u poslovanju, povećana je efikasnost i ubrzan kreditni proces. Paralelno se radilo na uvođenju novih proizvoda, poput faktoringa i proširenja palete usluga uvođenjem novog rešenja za elektronsko poslovanje – Halkom.

Proširena je saradnja sa postojećim klijentima, a uspostavljena sa gotovo svim najznačajnijim kompanijama na tržištu Srbije. Rezultati proširenja baze klijenata se ogledaju u povećanju obima domaćeg i inostranog platnog prometa, što je dovelo do povećanja prihoda od provizija.

U prošloj godini ostvaren je veoma dobar rezultat u plasiranju subvencionisanih kredita iz programa Vlade Republike Srbije namenjenih privredi, što je bila najobimnija komercijalna kampanja. Konačnim plasmanom na 5. mesto među bankama i ostvarenim tržišnim učešćem od 8,63%* ostvaren je izuzetno dobar rezultat, kojim su premašena očekivanja, uz značajno unapređenje komercijalne aktivnosti i prisutnosti banke na tržištu.

Ostvareni su značajni rezultati u trgovanju sa inostranim bankama i Sberbank Srbija se pozicionirala među prve tri banke koje pružaju ovu vrstu usluga. U kupovini i prodaji deviza pravnim licima ostvarili smo tržišno učešće od skoro 6%**.

Kao značajan tržišni segment, prepoznali smo potencijal za saradnju sa jedinicama lokalne samouprave i postavili smernice za razvoj ponude u narednoj godini.

Novim konceptom Banka na poslu postavljen je temelj za potpuno inovativni pristup za servisiranje zaposlenih u kompanijama koje posluju sa bankom. Početni rezultati pokazuju da će očekivani ciljevi biti ostvareni.

Značajno je unapređena i intenzivirana saradnja sa bankom u Beču, kao i sa ostalim bankama iz grupacije, što se reflektovalo na ugovaranje značajnih kreditnih poslova. U skladu sa dugoročnom strategijom postavljenom od strane akcionara, napravljen je značajan pomak u proširenju depozitne baze koja će omogućiti da u kratkom roku banka postigne veći stepen samofinansiranja.

Poslovanje sa privredom

Na istoj smo strani

Pretvorite fakture u novacFinansiranje na bazi potraživanja proisteklih

iz prodaje roba/usluga

Vođenje evidencije i naplata potraživanja

Na istoj smo strani




Faktoring

Poslovanje sa stanovništvom

Prethodna godina je bila izuzetno uspešna za Resor poslovanja sa stanovništvom. Svi

parametri prodaje su ostvarili rast u odnosu na 2013. godinu.

*Fond za razvoj Republike Srbije** Izveštaj NBS


Informacione tehnologije• Nivo novih plasmana iznosio je 96,4 miliona evra, čime je ostvaren rast od 49% u odnosu na prethodnu godinu, uz ostvarenje budžeta od 103%. Segment mikroklijenata je postigao rast plasmana od čak 62%. Ovome je posebno doprinelo aktivno i uspešno učestvovanje u programu subvencionisanih kredita, koje je trajalo od jula do decembra, kada je plasirano 27,5 miliona evra.

• Kreditni portfolio porastao je za 4%.

• Baza depozita povećana je za 42 miliona evra tj. 30%.

• Broj novih aktivnih klijenata je porastao za više od 12 hiljada (rast od 25%) i trenutno iznosi 58,6 hiljada klijenata.

• Otvoreno je skoro 21.000 novih tekućih računa (rast od 146%).

• Izdato je 7,6 hiljada novih kreditih kartica (13 puta veći rast prodaje u odnosu na 2013.godinu).

2014. bila je godina velikih ulaganja u poslovnu ekspanziju:

• Otvoreno je osam novih ekspozitura, čime je dostignut ukupan broj od 34 ekspoziture.

• Devet ekspozitura je potpuno renovirano i modernizovano, čime je skoro cela mreža ekspozitura usklađena sa standardima Sberbank grupe.

U 2014. godini banka je kupovinom udela u privrednom društvu SuperKartica d.o.o. postala suvlasnik najvećeg i najuspešnijeg programa lojalnosti u regionu, koji ima više od 500.000 registrovanih članova. Ulaskom u partnerstvo SuperKartica, priključili smo se najuspešnijim kompanijama na tržištu kao što su IDEA (Mercator S), NIS (Gazprom) čime smo potvrdili svoju trajnu opredeljenost ka kontinuiranom razvoju zadovoljstva i lojalnosti korisnika. Ova uspešna saradnja je

Marketing i Komunikacije

Ljudski resursi

Na osnovu ankete sprovedene od strane AIESEC-a, tokom 2014. godine zauzeli smo

treće mesto kao najpoželjniji poslodavac u Srbiji, odnosno prvo mesto među bankama.

Tokom godine razvijali smo korporativnu kulturu i implementirali vrednosti banke „Svi za klijenta. Mi smo tim. Ja sam lider.”

Na nivou grupe, 2. decembra proslavili smo Dan korporativne kulture. Pokazali smo kreativnost, proslavili uspehe i prezentovali šta je to što možemo bolje i brže.

Uz uvećanje broja zaposlenih tokom godine, organizovali smo događanja koja su nam pomogla da se bolje upoznamo u cilju dobre komunikacije i razvoja timskog duha. Takođe, organizovano je niz internih treninga i obuka iz različitih segmenata banke.

Plan za narednu godinu je poboljšanje praćenja uspešnosti zaposlenih i dalji razvoj internih treninga kako bismo omogućili što bolje deljenje znanja u okviru banke.

Podrška poslovanju sa stanovništvom ostvarena je brojnim marketinškim

aktivnostima i TV kampanjama:

• Cash Back kredit od aprila do maja,• Bonus kredit od avgusta do oktobra,• Jednostavno tekući račun od oktobra do novembra,

• Praznični bonus kredit od 22. do 31. decembra.

Ključna poruka kampanje za Bonus kredit bila je nagrađivanje klijenata za njihovu urednu otplatu kredita. Upravo je bonus bio u fokusu komunikacije, kao i činjenica da smo jedina banka na tržištu koja svoje klijente nagrađuje na ovaj način.

Kampanjom za Jednostavno tekući račun saopštavamo da Sberbank Srbija, pored inovativnosti naših proizvoda, ujedno nudi paket tekućeg računa koji obuhvata sve standardne ali i posebne besplatne 24/7 usluge.

Pored promovisanja inovativnih proizvoda putem medija, dodatni fokus stavljen je na unapređenje veb-sajta. Redizajn je uticao na bolju promociju proizvoda, kao i na poboljšanje prodaje putem generisanja upita onlajn.

Posebno formiran segment u okviru Službe za marketing – Upravljanje iskustvom klijenata (Customer Experience Management), uz stalno praćenje reakcija klijenata pomogao je da se unaprede promotivne poruke i optimizuje medijsko planiranje.

Ovaj segment usmeren je na važnost ponašanja prilikom kontakta i saradnje sa klijentom. U 2014. godini, Sberbank Srbija sprovela je nekoliko analiza iskustava klijenata u vezi sa percepcijom Sberbank brenda, imidža i uspešnosti oglašavanja.

Sprovedena su i istraživanja vezana za korišćenje proizvoda i usluga banke, odnos klijenata i banke, kao i segmentirano ponašanje i navike klijenata.

U roku od samo devet meseci, svest o Sberbank brendu uvećana je pet puta, odnosno u prvom kvartalu 2014. iznosila je 2,8% a 14,2% na kraju 2014. godine.**Financial Data Market Survey 2014, GFK

Tokom 2014. godine, Služba za informacione tehnologije aktivno je doprinela realizaciji

zadatih poslovnih planova, prevashodno uvođenjem savremenih informatičkih rešenja i optimizacijom postojećih procesa.

Glavni pravci delovanja bili su:

• uvođenje Halcom e-banking rešenja za pravna lica,

• uvođenje mobilnog bankarstva za fizička lica,

• podrška projektu SuperKartica,

• otvaranje novih poslovnica i opremanje postojećih u skladu sa strogim standardima matične grupacije,

• uvođenje paketa računa za fizička lica,

• uvođenje Bonus kredita, • uvođenje namenskih kredita za

poljoprivrednike,

• razvoj faktoring platforme,

• razvoj internih aplikacija za podršku poslovnim procesima,

• unapređenje IT infrastrukture u cilju poboljšanja nivoa usluga.

rezultirala lansiranjem jedinstvenog proizvoda – kobrenda platna SuperKartica iz premijum segmenta MasterCard World, koji je već u prvim mesecima nakon puštanja u prodaju ostvario veliki uspeh. Pored toga, za klijente SuperKartice u ponudi su specijalne pogodnosti za kupovinu ostalih proizvoda banke, pre svega, kredita i paketa tekućih računa.

Sa aspekta proizvoda, i 2014. godina je takođe bila uspešna. S obzirom na to da smo prepoznati kao banka koja nudi inovativne proizvode i tehnološki napredna rešenja, atraktivna za klijente, lansirali smo Bonus kredit, modifikovali Paket računa, dodajući mu jedinstvene 24/7 usluge i u domenu kartica uveli novu funkcionalnost plaćanja na rate.

Bonus kredit podrazumeva da klijent mora da ispuni jedini uslov – urednost u otplati, a banka ga za to nagrađuje povratom sredstava u visini od 1% od ukupnog iznosa kredita. Ovim smo pozicionirani kao jedina banka na tržištu koja nagrađuje klijente za urednost u otplati.

Jednostavno tekući račun je nadograđen dodatnim benefitom za klijente koji im štedi vreme i čuva kućni budžet. Ovaj benefit čine 24/7 usluge koje klijentima obezbeđuju: vaš drug na drumu, vaš majstor i vaš lekar na vezi. Prepoznajući trendove modernog bankarskog poslovanja, značajno je unapređeno prisustvo na digitalnim kanalima uvođenjem mobilnog bankarstva u standardnu ponudu. Unapređena je i dostupnost ponude proizvoda i usluga putem interneta. Na polju poslova sa osiguranjem ostvarili smo značajan uspeh. Uvođenjem grupnih polisa uz kredite i kreditne kartice postignuto je uvećanje prihoda od naknada iz poslova sa osiguranjem i formirana dobra osnova za još brži i veći rast.

Vaša priča. Vaša banka.

SMS

Sa tri inovativne 24/7 usluge


Zaštita životne sredine

Događaji nakon završetka poslovne godine Preporuka BAN 002

Narodna banka Srbije je 24. februara 2015. godine donela Odluku o merama za

očuvanje stabilnosti finansijskog sistema u vezi sa kreditima indeksiranim u stranoj valuti. Odluka se sastoji od dva dela. Prvi deo se odnosi na svaki pojedinačni ugovor o kreditu u otplati koji je banka zaključila sa korisnikom pre početka primene Zakona o zaštiti korisnika finansijskih usluga („Službeni glasnik RS”, broj 36/2011), bez obzira na stranu valutu u kojoj je taj kredit indeksiran. Ovim delom Odluke propisana je obavezna, jednoobrazna i detaljno uređena primena preporuke Narodne banke Srbije BAN 002/13 od 31. maja 2013. godine, koja se odnosila na primenu neodredivih elemenata promenljive kamatne stope pre početka primene Zakona o zaštiti korisnika finansijskih usluga. Nakon sagledavanja efekata primene preporuke BAN 002/13 u bankama, Narodna banka Srbije je odlučila da bankama propiše obavezujući način postupanja sa sredstvima koje su više naplatile po osnovu jednostranih povećanja promenljivih neodredivih elemenata kamatne stope. Banke su dužne da taj višak uračunaju u prevremenu otplatu kredita i da o tome svakom pojedinačnom korisniku dostave obaveštenje sa izmenjenim planom otplate kredita u roku od 30 dana od

Efekti promene kursa švajcarskog franka

Nakon najave Narodne banke Švajcarske, dana 15. januara 2015. godine, da više neće

braniti EUR/CHF kurs od 1,20, švajcarski franak je značajno porastao u odnosu na evro i ostale valute, kao što je američki dolar. Ne očekuje se da će se kurs švajcarskog franka vratiti na prethodni nivo u skorije vreme.

Upravljanje finansijskim rizicima

Dugoročni cilj strategije upravljanja rizicima jeste da obezbedi poslovanje banke koje će omogućiti ostvarenje ciljeva poslovne

politike i strategije uz adekvatnu zaštitu od rizika. Najznačajniji rizici kojima je Banka izložena u svom poslovanju su: kreditni rizik, tržišni rizici (kamatni rizik i rizik promene deviznog kursa), rizik likvidnosti i operativni rizik.

Praćenje i kontrola rizika je prvenstveno zasnovana na uspostavljanju nivoa tj. limita, koji su definisani željenim rizičnim profilom. Limiti odražavaju poslovnu strategiju i tržišno okruženje, kao i nivo rizika koji je banka spremna da prihvati. Osnovan je Odbor za upravljanje rizicima koji se sastaje na mesečnom nivou sa zadatkom sagledavanja i poređenja kvantifikovanih rizika sa raspoloživim kapitalom. Imajući u vidu kalkulacije koje su sprovedene tokom 2014. godine, zaključeno je da postoji dovoljan nivo raspoloživog kapitala za pokriće svih rizika (što potvrđuje i visok pokazatelj adekvatnosti kapitala).

Upravljanje rizikom likvidnosti definisano je kao niz aktivnosti koje je važno izvršiti kako bi se ustanovio i održao adekvatni nivo

likvidnosti neophodan za poslovanje banke. U cilju efikasnog upravljanja likvidnošću u toku 2014. godine, dužnosti su podeljene između Sektora za investicije i tržišta koje vrši operativno upravljanje likvidnošću i Odeljenja za upravljanje aktivom i pasivom koje se bavi strukturnom likvidnošću i optimizacijom izvora i plasmana. Odeljenje tržišnih rizika izvodi stres testove likvidnosti. Banka održava portfolio visoko likvidnih hartija od vrednosti, koje se mogu lako konvertovati u gotovinu u slučaju nepredvidivih i negativnih oscilacija u tokovima gotovine. Banka nastoji da koristi diversifikovane izvore novčanih sredstava, kao što su: depoziti sa različitim rokovima dospeća (po broju i vrsti deponenata), dugoročna sredstva sa različitih finansijskih tržišta, subordinirane obaveze i akcijski kapital, a sve u cilju umanjenja rizika likvidnosti. Banka svojom imovinom i obavezama upravlja na način koji obezbeđuje nivo likvidnosti neophodan za ispunjenje svih obaveza.

Tokom 2014. godine, Sberbank Srbija je nastavila sa razvojem i jačanjem funkcije upravljanja rizicima. Poseban akcenat je

Sberbank Srbija posluje u skladu sa konceptom društveno odgovornog poslovanja. Zaposleni u banci prepoznaju

važnost doprinosa zajednici u kojoj svi živimo i radimo, i nastoje da zauzmu poziciju poštovanog člana društvene zajednice kojoj pripadaju. Doprinos se ogleda u kvalitetu usluga koje pružamo, u razvoju zaposlenih i očuvanju životne sredine.

U 2014. godini, Sberbank Srbija je obnovila svoj vozni park savremenim vozilima sa izuzetno malom potrošnjom, kod kojih je emisija štetnih gasova svedena na minimum.

Nova vozila poseduju najnoviju generaciju motora koji obezbeđuju smanjenu potrošnju goriva za 14%.

U cilju očuvanja životne sredine, u protekloj godini pokrenut je proces smanjenja upotrebe i štampe papira, putem uspostavljanja nove procedure za otvaranje kredita za stanovništvo. Količina papira koji se štampa je uz pomoć novog procesa umanjena je za 30%.

Sberbank Srbija će i u narednoj godini nastaviti sa projektima koji imaju za cilj očuvanje životne sredine.

dana stupanja na snagu ove odluke. Do sada je na ime preporuke NBS-a, BAN 002/13 od 31. maja 2013. godine, vraćeno 599 hiljada švajcarskih franaka i 4 hiljde evra, a projektovani očekivani efekat primene ove odluke iznosiće 1.470 hiljada švajcarskih franaka i 205 hiljada evra, koji će biti evidentirani u skladu sa predviđenim rokom definisanim ovom odlukom.

Drugi deo Odluke odnosi se na ugovore o stambenim kreditima indeksiranim u švajcarskim francima. Korisnicima ovih kredita Banka je dužna da, najkasnije 30 dana od dana stupanja na snagu ove odluke, ponudi četiri modela zaključenja aneksa ugovora kojima bi bili izmenjeni uslovi otplate kredita, uz zadržavanje postojećih instrumenata obezbeđenja, a rok za prihvatanje ponude aneksa ugovora od strane korisnika ne može biti kraći od tri meseca od dana prijema ponude. Korisnik kredita može u svakom trenutku prihvatiti ponudu u okviru ovog roka.

Efekti primene ove odluke biće evidentirani u skladu sa predviđenim rokom definisanim ovom odlukom u zavisnosti od opcije koju klijent banke bude prihvatio.

Imajući u vidu da je značajan deo kreditnog portfolija banke u švajcarskim francima, a da je izloženosti prema klijentima zaduženim u ovoj valuti obezbeđena kolateralima u evrima, projektovano je da će jačanje švajcarskog franka dovesti do povećanja ispravke vrednosti do kraja 2015. godine u iznosu od 5,7 miliona evra.


Pokazatelji poslovanja Ostvareno Propisano

Kapital EUR 89.116.652 min. EUR 10.000.000

Adekvatnost kapitala 17,18% min. 12%

Pokazatelj ukupnih ulaganja u lica koja nisu u finansijskom sektoru i osnovna sredstva 7,10% max. 60%

Izloženost prema licima povezanim sa bankom u odnosu na kapital 9,46% max. 20%

Pokazatelj zbira velikih izloženosti banke 159,93% max. 400%

Pokazatelj likvidnosti – decembar 2,23 min. 0,8

Pokazatelj deviznog rizika 10,91% max. 20%

Na dan 31. decembar 2014. godine, banka je usaglasila sve pokazatelje poslovanja sa propisanim vrednostima, a u skladu sa zahtevima Narodne banke Srbije koji su propisani u Odluci o adekvatnosti kapitala banke i Odluci o upravljanju rizicima.

Sveobuhvatne informacije o upravljanju finansijskim rizicima obelodanjene su u okviru Napomene 5 u Finansijskim izveštajima za 2014. godinu.

stavljen na kreiranje i izmenu modela, procesa i postupaka u oblasti kreditiranja privrede i stanovništva, sa ciljem da se unapredi upravljanje kreditnim rizikom. U pogledu konstantnog trenda rasta nenaplativih kredita na tržištu Srbije tokom 2014. godine, snažan akcenat je stavljen na dalji razvoj funkcija naplate i restrukturiranja potraživanja. Banka je osnovala Odeljenje za ranu identifikaciju problematičnih plasmana u sektoru privrede, koje

Bilans uspeha za godinu završenu 31. decembra 2014. godine

U hiljadama dinara

2014. 2013.

Prihodi od kamata 6.196.626 6.661.085

Rashodi kamata (1.451.229) (1.616.160)

Neto prihod po osnovu kamata 4.745.397 5.044.925

Prihodi od naknada i provizija 1.278.647 997.282

Rashodi naknada i provizija (130.334) (101.670)

Neto prihod po osnovu naknada i provizija 1.148.313 895.612

Neto dobitak po osnovu finansijskih sredstava namenjenih trgovanju - 3.927Neto gubitak po osnovu finansijskih sredstava namenjenih trgovanju (335) -

Neto gubitak po osnovu zaštite od rizika - (54)Neto prihod od kursnih razlika i efekata ugovorene valutne klauzule 470.147 421.360Ostali poslovni prihodi 85.747 34.283Neto rashod po osnovu obezvređenja finansijskih sredstava i kreditno rizičnih vanbilansnih stavki (1.710.167) (2.818.842)

Troškovi zarada, naknada zarada i ostali lični rashodi (1.323.286) (1.081.172)

Dobitak pre oporezivanja 1.611.511 1.063.313

Porez na dobitak (69.474) (51.324)Dobitak po osnovu odloženih poreza 7.776 2.240

Dobitak nakon oporezivanja 1.549.813 1.014.229

Zarada po akciji (u dinarima bez para) 254 166

Troškovi amortizacije (142.546) (133.316)

Ostali rashodi (1.661.759) (1.303.410)

Pripisuje se:Akcionarima matičnog pravnog lica 1.549.813 1.014.229

je odgovorno za definisanje strategije i akcija koje će se preduzeti u slučaju klijenata kod kojih su identifikovani rani indikatori povišenog kreditnog rizika u procesu praćenja klijenata.

U cilju uspešne primene izmena regulative, banka kontinuirano razvija, ažurira i usvaja politike, procedure i uputstva za upravljanje svim vrstama rizika kako bi odgovorila na promene okruženja u kome posluje.

Finansijski izveštaji


Bilans stanja na dan 31. decembra 2014. godine

U hiljadama dinara

2014. 2013.

AKTIVAGotovina i sredstva kod Centralne banke 6.896.956 11.421.449Finansijska sredstva po fer vrednosti kroz bilans uspeha namenjena trgovanju 5.734 4.187Finansijska sredstva raspoloživa za prodaju 11.190.848 7.983.153Finansijska sredstva koja se drže do dospeća 499.323 495.841Krediti i potraživanja od banaka i drugih finansijskih organizacija 19.670.409 13.901.329Krediti i potraživanja od komitenata 68.461.508 64.164.073Nematerijalna ulaganja 209.186 153.051Nekretnine, postrojenja i oprema 615.477 341.851Tekuća poreska sredstva 159.881 149.209Odložena poreska sredstva 10.940 34.088Ostala sredstva 711.103 577.114

UKUPNA AKTIVA 108.431.365 99.225.345

OBAVEZEFinansijske obaveze po fer vrednosti kroz bilans uspeha namenjene trgovanju 2.040 158

Depoziti i ostale obaveze prema bankama, drugim finansijskim organizacijama i Centralnoj banci 41.744.658 42.412.667Depoziti i ostale obaveze prema drugim komitentima 35.852.280 28.137.312Subordinirane obaveze 6.652.706 6.305.316Rezervisanja 552.753 530.363Ostale obaveze 383.048 266.999

UKUPNO OBAVEZE 85.187.485 77.652.815

KAPITALAkcijski kapital 14.820.961 14.820.961

Dobitak 1.549.813 1.014.229

Rezerve 6.873.106 5.737.340

UKUPAN KAPITAL 23.243.880 21.572.530

UKUPNO PASIVA 108.431.365 99.225.345

1.1.2013.

18.830.221

1036.889.490

-

2.055.89973.200.304

134.713184.335

21.25431.848

297.431

101.645.598

-

49.433.65424.704.7276.254.507

447.963275.072

81.115.923

14.820.961

1.226.4864.482.228

20.529.675

101.645.598

Finansijski izveštaji

Godišnji izveštaj Upravnog odbora

Tokom 2014. godine, Upravni odbor je održao četiri redovne sednice i doneo 38 pisanih odluka izvan 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, kao i predloge podnete od strane Izvršnog odbora, i na osnovu toga doneo odgovarajuće odluke.

Finansijski izveštaj banke na dan 31. 12. 2014. godine revidiran je od strane preduzeća za

reviziju Ernst & Young d.o.o. Beograd. Odbor za reviziju banke je razmotrio finansijske izveštaje i predložio njihovo usvajanje Upravnom odboru i Skupštini akcionara banke.

Profit pre oporezivanja za 2014. godinu iznosio je 1.611.511 hiljada dinara.

Na kraju, Upravni odbor želi da se zahvali svim zaposlenima banke na velikom trudu uloženom tokom prethodne godine, a posebno na odličnoj realizaciji planova i ciljeva za širenje poslovanja banke u 2014. godini.


UPRAVNIODBOR

PREDSEDNIKIZVR Š NOG ODBORA

S lužba internerevizije

S lužba usklađenosti poslovanja

banke

Sektor zarestrukturiranje i

naplatuproblematičnih

plasmana

Odeljenje zaupravljanje

tržišnim i operativnim

rizicima


kreditnim rizikomu segmentu

privrede


kreditnim rizikomu segmentustanovništva

Odeljenje zaintegrisanoupravljanje

rizicima

Sektor za procenu

kreditnog rizika

RESOR ZAUPRAVLJANE

RIZICIMA(Č lan Izvršnog

odbora)

Sektor zafinansije

RESOR ZAUPRAVLJANJE

FINASIJAMA(Č lan Izvršnog

odbora)

S lužba za organizaciju iupravljanje

efikasnošću

S lužba za nabavku ipodršku

Recepcija

Pravnas lužba

S lužba za ljudskeresurse

S lužba za odnose sajavnošću i

komunikacije

Kabinet

Grupa zakolaterale

S lužba za bezbednost

Sektorbankarskihoperacija

Služba za informacionetehnologije

RESOR ZAUPRAVLJANJEOPERACIJAMA(Č lan Izvršnog

odbora)

RESOR ZA

Odeljenje zarazvoj proizvoda

Sektor prodaje idistribucije

Odeljenje zadigitalno

bankarstvo ipartnerstva

S lužba za marketing

POSLOVE SAS T ANOV NIŠ T V OM

(Č lan Izvršnog odbora)

RESOR ZAPOSLOVE SAPRIVREDOM I

GLOBALNATRŽIŠ TA

(Č lan Izvršnog odbora)

Sektor zainvesticije i

trzista

Sppr

ektor zaoslove saivredom

Sektor za finansijskeinstitucije ifinansiranje

spoljnotrgovinskihposlova

Sektor zaposlove sa

malim i srednjimpreduzecima

Organizaciona struktura Sberbank Srbija a.d.

1Annual Business Report 2014

Annual Report

2014

2 3Sberbank Serbia a.d. Annual Business Report 2014

5

Czech Republic

Slovakia

Ukraine

Austria

Hungary

SloveniaCroatia

Bosnia andHerzegovina Serbia

Germany

ContentsSberbank Serbia and Sberbank Europe Foreword of the Executive BoardKey Facts 2012-2014 Macroeconomic Environment Business Development Analysis and Plans for the Future Corporate BankingRetail BankingMarketing and CommunicationsInformation TechnologiesHuman ResourcesEnvironmental Protection Events after the End of the Business Year Financial Risks Management Financial Statements Income StatementBalance SheetBoard of Directors Annual Report Organizational Structure

3 44

5-6 7-9

77999

1010-11 11-12

13 131415

16-17

Sberbank Serbia and Sberbank Europe

Sberbank Europe Group (Sberbank Europe AG), headquartered in Vienna, Austria, is a banking group that is 100% owned by

Sberbank Russia. Sberbank Europe Group is present in 11 markets in Europe: Austria, Bosnia and Herzegovina (Sarajevo and Banja Luka), Croatia, Czech Republic, Hungary, Slovakia, Slovenia, Serbia, the Ukraine and Germany. In total, the bank operates 294 branches and has 5,157 employees (as of 31.12.2014).

Due to the crisis in the Ukraine, the year 2014 was characterized by a challenging political and economic environment. While our mother company, Sberbank Russia, was put under sanctions, Sberbank Europe and its subsidiaries in the EU countries were not subject to any EU sanctions and accordingly not restricted in their access to the EU capital markets. In March 2014, some of the most renowned international banks have provided a debut syndicated term loan facility for Sberbank Europe AG for EUR 350 million equivalent to serve new business, especially Large Corporates.

Leveraging the Austrian banking license, Sberbank Direct, a 100% subsidiary of Sberbank Europe AG, was launched as a branch of Sberbank Europe AG in Germany

in the summer of 2014. The German subsidiary operates as a flexible, fast and effective funding tool for Sberbank Europe AG, offering deposit products at attractive conditions. It is established as a purely online bank and offers online consumer deposits exclusively for private individuals via direct sales channels.

In addition, Sberbank Europe has started its journey on creating a new common Corporate Culture – what Sberbank Europe stands for – following the three Sberbank principles:

“All for the customer – We are a team – I am a leader”. In everything we do, we are striving to exceed the expectations of our customers. We are committed to instill confidence, we make people’s lives better, helping them to fulfill their dreams and aspirations.

Despite all our achievements, the challenges will continue in 2015 and for Sberbank Europe this means that is has to continuously adapt to a changing environment. Therefore the business model of Sberbank Europe Group will be further enhanced, aimed at building a sustainable, profitable, self-funded and modern banking group in Europe.

Page


2012 2013 2014

44%

Operational Cost/ Net Income Ratio

43%48%

Client Depositmln RSD

2012 2013 2014

24,70528,137

35,852

Profit before Taxmln RSD

2012 2013 2014

1,350

1,063

1,612

Loans (Gross)mln RSD

2012 2013 2014

78,655

71,518

77,058

Foreword of the Executive Board

Key Facts2012-2014

Macroeconomic Environment

The year 2014 in Serbia was marked by entering the recession. The gross domestic product (GDP) dropped by

1,8%, investments by 2,7% and the fiscal deficit reached 6,6% of GDP, while public debt exceeded by 70% GDP margin. Non-performing loans took 20% of total loans, while strong depreciation pressures threatened to endanger the macroeconomic stability.

The negative trends stopped only in the last quarter of the previous year and at the beginning of 2015, some segments showed signs of improvement. GDP increased by 0,4%, industrial production increased, construction and retail sales showed growth. These improvements were mostly the result of flood recovery, however exports and investments which are the main drivers of growth are still stagnating, while supplies are growing.

From the start of 2015, the fiscal deficit strongly decreases, which is the result of fiscal consolidation measures, suppression of grey economy, as well as of certain one-time factors. When one-time factors are not taken into consideration, the results in 2014 are close to those planned, without any improvement.

The balance of the payment deficit dropped in the last quarter of the 2014 as a result of the decrease in fuel prices and recovery of economy from floods, and it is expected that this improvement will continue during 2015, mostly due to the fiscal consolidation measures.

The National Bank of Serbia (NBS) reduced the restrictiveness of its monetary policy in an attempt to stabilize inflation. Starting from mid 2014, deflation was achieved during most months, while depreciation pressures were stopped. Although moderate depreciation of the dinar would stimulate export and destimulate import, in that way stimulating GDP growth and increase of employment rate, strengthening of Euro against dinar was allowed.

By signing the agreement worth 1.2 billion euros with the IMF, the Government improved its chances of accomplishing ambitious plans concerning the economic policy and reforms. Macroeconomic risks, such as public debt crisis and balance of payment crisis, have been significantly reduced and it can be expected that financial markets will positively react to the signing of the stand-by agreement.

Sberbank Serbia strives to ensure a position as a universal bank that has a solution for all needs of retail and corporate business.

During the previous year, we have continued with a traditionally good performance in cooperation with corporate clients.

We want to underline the success we have achieved in the campaign of subsidized loans, where we have provided support to small, medium-sized and large companies to strengthen their liquidity or to make additional investments under favorable conditions and to finalize the business year with an even bigger success.

We have achieved a significant success in the retail segment. We expanded the branch network and launched a number of innovative products: Bonus loan that awards regular repayment, Jednostavno current account with unique 24/7 services, SuperKartica payment card that belongs to the famous MasterCard World program with an option for contactless payment and payment in instalments.

Following our business strategy based on responsibility and sustainability, it brought us to a significant growth in the number of clients, accounts, payment cards and number of loans for private individuals. Strong efforts made by our employees made all of this possible. We are very proud of the fact that during the last year we have significantly increased the number of employees and placed an accent on their development and training. With that, we have shown our commitment to further developing ourselves and investing into the Serbian market.

We have made improvements in the domain of the back office support, in operational implementation and processing of orders, transactions and contracts. We have established a high quality risk assessment and financial reporting.

We want to thank to our clients for their trust and to promise even better services in the upcoming period. A big thank you goes to all our employees for the efforts they invest, so that Sberbank Serbia achieves one success after another.


Key macroeconomic indicators

Real GDP growth in %

Consumer prices (in % compared to the same month of the previous year)

Foreign exchange reserves of NBS (mln EUR)

Exports of goods and services (mln EUR)

Growth rate in % compared to the previous year

Import of goods and services (mln EUR)

Growth rate in % compared to the previous year

Current account balance of payments (mln EUR)

% of GDP

ILO unemployment rate (%)

Wages (average for the period, in EUR)

State budget deficit/ surplus (% of GDP)

Public debt of the Republic of Serbia (% of GDP)

RSD to USD exchange rate (period average)

RSD to USD exchange rate (end of the period)

RSD to EUR exchange rate (end of the period)

Consolidated fiscal result (% of GDP)

RSD to EUR exchange rate (period average)

2007

5.89

11.0

9,634.0

8,114

-

15,503

-

(5,320.3)

(18.1)

18.1

347.14

-1.62

-1.9

29.86

58.4

53.73

80.0

79.24

2008

5.37

8.6

8,162.0

9,577

18.0

18,267

17.8

(7,135.4)

(21.2)

13.6

400.50

-1.85

-2.6

28.34

55.8

62.90

81.4

88.60

2009

-3.12

6.6

10,601.8

8,041

(16.0)

13,098

(28.3)

(1,770.4)

(5.8)

16.1

337.37

-3.14

-4.4

32.79

67.5

66.73

94.0

95.89

2010

0.58

10.3

10,002.0

9,521

18.4

14,243

8.7

(2,081.9)

(7.0)

19.2

330.06

-3.27

-4.6

41.81

77.9

79.28

103.0

105.50

2011

1.40

17.1

11,147

12,057.7

7.0

(3,305.2)

15.8

16,497

-4.8

-3.89

372.50

23.0

(9.9)

73.3

45.40

102.0

80.87

104.64

2012

-1.02

3.0

16,993

3.2

11,498

10,915.0

12.2

(11.5)

(3,639.6)

-5.36

364.46

23.9

86.18

88.1

56.20

-6.8

113.72

113.1

2013

2.57

11,188.8

2.2

13,963

17,796

21.4

4.7

(2,092.0)

(6.1)

22.1

388.60

-4.48

-5.5

59.60

85.2

83.13

113.1

114.64

Q12014

-0.24

10,428.3

2.3

3.3

4,139

16.0

3,304

(540.2)

(7.1)

-8.11

361.40

20.8

-7.7

60.84

84.5

83.89

115.7

115.38

Q22014

-1.24

10,125.0

1.3

3,654

7.3

4,575

(496.0)

4.6

(6.0)

20.3

388.68

-4.67

84.3

61.63

-4.7

84.85

115.6

115.79

Q32014

2.1

-3.79

10,878.0

3,704

(5.7)

1.5

4,640

(6.1)

(508.4)

17.6

381.40

-2.38

67.94

-4.0

88.5

93.62

117.4

118.85

Q42014

1.7

-1.80

9,907.0

3,783

0,0

-2,1

4,741

(557.0)

96.3

120.3

120.96

99.46

(6.3)

16.8

-10.1

385.70

-3.50

70.87

External solvency indicators (%)

Financial risk exposure indicators (%)

External debt/ GDP 72.2 80.9 75.2 75.2 75.0 78.8 78.7

Short-term debt/ GDP 12.0 14.5 11.7 11.8 11.2 11.0

External debt/ exports of goods and services 216 223 185 178 173 183 180

Indicators of Serbia’s external position

External liquidity indicators (%)

FX reserve/ imports of goods and services (in months)

2011 2012 2013Q12014

Q22014

Q32014

Q42014

8.8 7.7 7.5 7.0 6.7 7.2 6.6

FX reserve/ short-term debt 300 238 278 260 267 294

FX reserves/ GDP 36.1 34.5 32.7 30.6 30.0 32.5 29.8

Debt repayment/ GDP 12.5 13.1 13.2 13.1 13.0 10.7 17.9

Debt repayment/ exports of goods and services 37.5 36.2 32.9 30.3 30.2 24.0 41.1

FX reserves/ M1 429.6 402.1 330.4 335.3 293.1 310.8 278.0

FX reserves/ reserve money 207.6 197.9 199.9 192.8 191.8 199.8 195.7

Openness of economy (exports + imports)/ GDP

59.0

13.1

214

2007

7.5

251

32.7

10.3

37.5

306.7

173.8

80.2

62.3

14.9

219

2008

5.4

163

24.2

10.7

37.5

300.4

140.7

82.6

72.7

15.7

277

2009

9.7

221

34.6

12.8

48.8

393.4

190.5

69.0

79.0

17.6

247

2010

8.4

191

33.6

12.0

37.4

416.6

196.4

79.8 82.7 89.9 92.7 97.4 98.9 99.3 96.1

286

10.5

Credit rating

S&P

2011 2012 2013

Fitch

Moody’s

2007 2008 2009 2010

Jun Dec Dec Nov Mar Avg Jul Jan

2014

BB-/ stable outlook BB-/ negative outlook

BB-/ negative outlook

BB-/ stable outlook

BB-/ stable outlook

BB-/ stable outlook BB-/ negative outlook

BB-/ negative outlook B+/ stable outlook

B1/ stable outlook

Business Development Analysis and Plans for the Future

During 2014, Sberbank Serbia achieved a very good result and exceeded all expectations

despite difficult business conditions both on Serbian market and in the international environment.

Business optimization was successfully completed, efficiency improved and the credit process accelerated. At the same time, we worked on introduction of new products, such as factoring and on the widening of the product range by introducing the new e-business solution – Halkom.

We expanded the cooperation with existing clients and established the cooperation with almost all major companies on the Serbian market. The results of the client base expansion can be seen in increased domestic and international payments, which increased the income from fees.

During the previous year we achieved a very good result in relation to the placement of subsidized corporate loans as a part of the programme of the Serbian Government, which was the most extensive campaign of the previous year. Not only were we ranked 5th among banks and achieved a market share of 8.63%*, which is an exceptional result and beyond our expectations, but we also significantly improved our commercial activities and the bank’s presence on the market.

We have achieved significant results in trading with international banks and Sberbank Serbia has been ranked among the first three banks which offer this type of service. Our market share in the field of buying/ selling foreign currency from/ to legal entities was almost 6%**.

We recognized the potential for cooperation with local municipalities and set guidelines for the development of our offer for the next year.

The new concept “Bank at work” sets the foundation for an innovative approach of providing services to employees of the companies cooperating with the bank. Initial results show that the anticipated goals can be achieved.

We have significantly improved and intensified the cooperation with Sberbank Europe AG and other banks from the Group, which led to significant credit arrangements. By following the long-term strategy established by our shareholders, we have made significant progress in terms of increasing our deposit base which would allow the bank to achieve a higher degree of self-financing for a short period of time.

Corporate Banking

Na istoj smo strani




Na istoj smo strani




Faktoring

Retail Banking

The previous year was a very successful one for the Retail. All sales parameters show

that we have grown in comparison to the previous year.

*The Development Fond of Republic of Serbia**NBS report


Information Technologies• New Retail loans amounted to 96,4 million Euros, which means that we have achieved a growth of 49% in comparison to the previous year and with a budget realization of 103%. The micro-segment increased its business by 62%. The successful participation in the subsidized loans programme from July to December, during which 27.5 million Euros were lent, significantly contributed to this result.• The credit portfolio increased by 4%.• The deposit base increased by 42 million Euros, i.e. 30%.• The number of new active customers increased by more than 12 thousand (growth of 25%) and currently amounts to 58.6 thousand customers.• We have opened almost 21.000 new current accounts (146% increase).• We have issued 7,6 thousand new credit cards (13 times higher incresase in comparison to 2013).

2014 was the year of large investments into the business expansion:

• We have opened 8 new branches, reaching 34 branches in total. • We have completely renovated and modernized 9 branches, by which almost entire branch network was aligned with standards of Sberbank Group.

In the 2014, the bank bought share in the company SuperKartica d.o.o. and became the co-owner of the largest and the most successful loyalty programme in the region, with more than 500.000 registered members. By entering into the partnership SuperKartica, we have joined the most successful companies on the market, such as IDEA (Mercator S), NIS (Gazprom). In this way have shown our lasting commitment to continuous improvement of the customer satisfaction and loyalty. This successful

Marketing and Communication

Human Resources

During 2014 we were ranked as the third most desirable employer in Serbia, based

on the survey conducted by AIESEC, which makes us the highest ranked employer among banks.

During the year we have developed corporate culture and implemented values of the bank All for the customer – We are a team – I am the leader. At the Group level, on December 2nd we celebrated the day of corporate culture. We demonstrated creativity, celebrated successes and presented the things we could do better and faster.

While increasing the number of employees during the year, we have also organized events which helped us to get to know each other in order to achieve good communication and develop team spirit. Many internal trainings and education programmes focused on different business segments were organized.

Our plan for the next year is to improve monitoring of employee performance and to further develop internal trainings, in order to improve knowledge sharing within the bank.

Retail banking was supported by various marketing activities and TV campaigns:

• Cash Back loan from April to May • Bonus loan from August to October • Jednostavno current account from October to November • Holiday bonus loan from December 22nd to December 31st

Key message of Bonus loan campaign was rewarding of customers for regular loan repayment. The bonus was in the focus of communication, as well as the fact that we are the only bank on the market which rewards its customers in such way.

The campaign for Jednostavno current account communicates the message that Sberbank Serbia, besides innovative products, offers current account package which includes all standard, but also special free 24/7 services.

Beside innovative products promotion through the media, we placed additional focus on upgrading our website. Redesigning helped us promote our products in a better way and led to increased sales by generating online inquiries.

Special segment within Marketing department (Customer Experience Management) helped us improve promotional messages and optimize media planning through constant monitoring of customer reactions.

This segment focuses on importance of conduct during cooperation with a customer. In 2014, Sberbank Serbia conducted several customer experience analysis related to the perception of Sberbank brand, image and advertising performance.

We have also conducted researches on use of bank’s products and services, a relation between the customer and the bank, segmented behaviour and customers’ habits.

Within only nine months, awareness of Sberbank brand was increased five times and during the first quarter of 2014 it was 2,8% in comparison to 14,2% at the end of 2014.**Financial Data Market Survey 2014, GFK

During 2014 IT department actively contributed to realization of set business

plans, mostly by introducing modern IT solutions and by optimizing existing processes.

The main courses of action were:

• Introduction of the Halcom e-banking solution for legal entities• Introduction of mobile banking for private individuals• Supporting the SuperKartica project• Opening of new branches and equipping existing ones in accordance with strict standards of the Group • Introduction of the account package for private individuals• Introduction of the Bonus loan• Introduction of the special purpose loans for agriculture• Development of the factoring platform• Development of internal applications for the business process support.• Upgrading IT infrastructure in order to improve the level of service

cooperation resulted in launching of joint product – the co-branded payment card SuperKartica, that belongs to the premium segment of the MasterCard World, which achieved great success as soon as it was released. Besides that, special benefits for purchase of various Bank products, primarily credits and current account packages, are offered to SuperKartica customers.

Previous year was successful from the product perspective as well. Since we are well known as the bank which offers innovative products and advanced technological solutions, which are popular among the customers, we launched Bonus loan, modified Account package with added unique 24/7 services and introduced payment by instalments functionality for the credit cards.

Bonus loan refers to one condition that the customer has to meet - regular repayment, and the bank rewards customer with refund in the amount of 1% of the total loan amount. This makes us the only bank on the market which rewards its customers for regular repayment.

Jednostavno current account is upgraded with the additional customer benefit which saves the time and household budget. This benefit includes 24/7 services: your friend on the road, your handyman and your doctor on the phone. We have recognized modern banking trends and significantly increased presence through digital channels by adding mobile banking to the standard offer. We have also improved online availability of products and services. We have achieved a great success in the field of insurance business. Introduction of group policies for loans and credit cards led to increased fee income from insurance business and created good foundation for even faster and larger growth.

Vaša priča. Vaša banka.

SMS

Sa tri inovativne 24/7 usluge


Environmental Protection

Events after the End of the Business Year Recommendation BAN 002

The National Bank of Serbia adopted the Decision on Measures for Preserving the

Stability of the Financial System in the context of foreign currency-indexed loans on February 24th 2015. The Decision consists of two parts. The first part deals with each individual loan agreement being repaid, which the bank concluded with a customer after adoption of the Law on Protection of Financial Services Customers („Official Gazette of RS”, number 36/2011), regardless of the foreign currency in which the loan is indexed. This part of the Decision stipulates mandatory, uniform and detailed implementation of the recommendation of the National Bank of Serbia BAN 002/13 dated May 31st 2013, which deals with the implementation of indefinable elements of variable interest rate before implementation of the Law on Protection of Financial Services Customers. After reviewing the effects of the implementation of the recommendation BAN 002/13, the National Bank of Serbia decided to prescribe mandatory measures for disposal with funds excessively charged by unilaterally applying variable, indefinable elements of the interest rate. Banks are obliged to consider the excessive repayment as an early repayment of the loan

Effects of Swiss Franc Exchange Rate

After the announcement of the National Bank of Switzerland, dated January 15th 2015 to lift

the minimum exchange rate of EUR/ CHF 1,20, the Swiss franc significantly increased against the euro and other main foreign currencies, such as the US dollar. It is not expected that the exchange rate of the Swiss franc will return to the previous level any time soon.

Financial Risk Management

The long-term goal of the risk management strategy is to ensure the bank’s operation which will allow the fulfillment of business

policies and strategies with an appropriate risk protection. The most important risks to which the Bank is exposed are: credit risk, market risks (interest rate risk, foreign exchange risk), liquidity risk and operational risk.

Risk monitoring and control is mainly based on the establishment of levels, i.e. limits which are defined by a preferred risk profile. The limits maintain the business strategy and the market environment, as well as the risk level the bank is ready to assume. We established a Risk Committee which convenes monthly, to review and compare quantified risks with available capital. Considering the calculations conducted during 2014, it was concluded that the Bank has a sufficient level of available capital to cover all risks (which is confirmed by the high capital adequacy indicator).

The liquidity risk management is defined as a series of activities required to establish and maintain the level of liquidity necessary for the bank’s operation.

In order to achieve an efficient liquidity management in 2014, we have split the responsibilities between Investment and Global Market Division, which performs the operational liquidity management, while Assets and Liability Management Department (ALM) is responsible for structural liquidity and optimization of sources and placement. Market risk office performs stress tests of liquidity. The Bank maintains a portfolio of highly liquid securities which can be easily converted to cash in case of unpredictable and negative fluctuations of cash flows. The Bank tends to use diversified funding sources, such as deposits with different maturity dates (depending on the number and type of depositors), long-term funds from various financial markets, subordinated obligations and all in order to reduce liquidity risk. The Bank manages its assets and liabilities in a manner which allows maintaining of the level of liquidity required for the settlement of all obligations.

During 2014, Sberbank Serbia continued to develop and strengthen the risk management function. The special focus was on the

Sberbank Serbia operates in accordance with the concept of corporate social responsibility. Employees of the bank

recognize the importance of the contribution to the community in which we all live and strive to become respected members. The contribution is reflected through the quality of services we provide, the development of our employees and through our protection of the environment.

During the previous year 2014, Sberbank Serbia renewed its vehicle fleet by replacing old vehicles with new ones that have significantly lower fuel consumption and minimal hazardous emissions.

The new vehicles have motors of the latest generation which provide fuel savings of 14%.

In order to protect the environment, during the previous year we have started reducing the usage of paper by introducing a new procedure for retail loans applications. The amount of paper used for printing was lowered by 30% thanks to this new process.

During the next year, Sberbank Serbia will continue to introduce projects that aim to protect the environment.

and to notify each individual customer on the amended repayment schedule within 30 days from the date of this Decision becoming effective. Until today, based on the recommendation of the NBS BAN 002/13, 599 thousand Swiss francs and 4 thousand Euros were returned, while the expected effect of the implementation of this Decision will be 1.470 thousand Swiss francs and 205 thousand Euros which must be recorded in accordance with the Decision.

The second part of the Decision deals with housing loans indexed in Swiss franc. The Bank is obliged to offer four models of contract annexes, which amend loan repayment terms, while preserving existing collaterals within 30 days from this Decision becoming effective. The deadline for the acceptance of the offered contract annexes must not be shorter than three months from the date the offer has been received. The client may accept the offer at any time during this period.

The implementation effects of this Decision will be recorded in accordance with the deadline provided by this Decision, depending on the model chosen by the customer.

Considering that a significant part of the bank’s credit portfolio is indexed in Swiss francs and that the exposure to the customers indebted in this currency is secured by collaterals in Euros, it is estimated that the strengthening of the Swiss franc will lead to the increased value adjustment until the end of 2015. The increased value adjustment will amount to 5,7 million Euros.


Performance indicators Realised Planned

Capital EUR 89.116.652 min. EUR 10.000.000

Capital Adequacy Ratio 17,18% min. 12%

Indicator of total investments in non-financial entities and fixed assets 7,10% max. 60%

Exposure to related parties in terms of relation to capital 9,46% max. 20%

Indicator of sum of significant exposures 159,93% max. 400%

Liquidity indicator - December 2,23 min. 0,8

Foreign exchange risk indicator 10,91% max. 20%

As of December 31st 2014, the Bank’s performance indicators were in accordance with the prescribed values and in accordance with the requirements of the National Bank of Serbia defined by the Decision on capital adequacy (“Official Gazette of the Republic of Serbia”. no. 46/2011, 6/2013 and 51/2014) and the Decision on risk management (“Official Gazette of the Republic of Serbia”, no. 45/2011. 94/2011. 119/2012, 123/2012, 23/2013, 43/2013 and 92/2013).

Complete information on the financial risk management is enclosed inside the note number 5 within the Financial report for 2014.

establishment and amending of models, processes and procedures in the area of retail and corporate lendings with the aim to improve credit risk management. As for the continuous growth trend of non-performing loans on the Serbian market during 2014, we have placed considerable effort in the development of the collection function and liabilities restructuring. The Bank established the Office for early identification of non-performing corporate loans, which is responsible for defining

Income Statement for the Year Ending on December 31st 2014

In thousand RSD

2014 2013

Interest income 6.196.626 6.661.085

Interest expenses (1.451.229) (1.616.160)

Net interest income 4.745.397 5.044.925

Fee and commission income 1.278.647 997.282

Fee and commission expenses (130.334) (101.670)

Net fee and commission income 1.148.313 895.612

Net gains on financial assets held for trading - 3.927

Net loss on financial assets held for trading (335) -

Net loss on hedging - (54)

Net foreign exchange gains 470.147 421.360

Other operating income 85.747 34.283

Impairment losses on financial assets and o -balance sheet items, net (1.710.167) (2.818.842)

Salaries, wages and other personal expenses (1.323.286) (1.081.172)

Profit before tax 1.611.511 1.063.313

Income tax (69.474) (51.324)

Deferred income tax 7.776 2.240

Profit 1.549.813 1.014.229

Earnings per share (in RSD) 254 166

Depreciation and amortization (142.546) (133.316)

Other operating expenses (1.661.759) (1.303.410)

Attributable to:Shareholders of the Parent company 1.549.813 1.014.229

strategies and actions to be taken in case that early indicators of credit risk are observed during monitoring of clients.

In order to achieve a successful implementation of the amended regulations, the bank continuously develops updates and adopts policies, procedures and instructions for the management of various types of risks and all in order to be ready to respond to the changes of the business environment.

Financial Statements


Balance Sheetas of December 31st 2014

In thousand RSD

2014 2013

ASSETSCash and deposits with Central bank 6.896.956 11.421.449Financial assets at fair value through the profit or loss held for trading 5.734 4.187Financial assets available for sale 11.190.848 7.983.153Financial assets held to maturity 499.323 495.841Loans and receivables from banks and other financial institutions 19.670.409 13.901.329Loans and receivables from customers 68.461.508 64.164.073Intangible assets 209.186 153.051Property, plant and equipment 615.477 341.851Current tax assets 159.881 149.209Deferred tax assets 10.940 34.088Other assets 711.103 577.114

TOTAL ASSETS 108.431.365 99.225.345

LIABILITIESFinancial liabilities at fair value through profit or loss held for trading 2.040 158

Deposits and other liabilities to banks, other financial institutions and Central Bank 41.744.658 42.412.667Deposits and other liabilities to other customers 35.852.280 28.137.312Subordinated liabilities 6.652.706 6.305.316Provisions 552.753 530.363Other liabilities 383.048 266.999

TOTAL LIABILITIES 85.187.485 77.652.815

EQUITYShare capital 14.820.961 14.820.961

Profit for the year 1.549.813 1.014.229

Reserves 6.873.106 5.737.340

TOTAL EQUITY 23.243.880 21.572.530

TOTAL LIABILITIES AND EQUITY 108.431.365 99.225.345

1.1.2013

18.830.221

1036.889.490

-

2.055.89973.200.304

134.713184.335

21.25431.848

297.431

101.645.598

-

49.433.65424.704.7276.254.507

447.963275.072

81.115.923

14.820.961

1.226.4864.482.228

20.529.675

101.645.598

Financial Statements

Board of Directors Annual Report

During the year 2014, the Board of Directors assembled at four regular meetings and adopted 38 written

resolutions between the meetings. During the meetings, the Board of Directors was fully informed by the Executive Board about the business operations of Sberbank Serbia. The Board of Directors reviewed the reports on business activities, the balance sheet, income statements and proposals submitted by the Executive Board and made appropriate decisions on this basis.

The financial statement of the Bank as of 31.12.2014. was audited by the auditing

company Ernst & Young d.o.o. Beograd. The Audit Committee of the Bank has reviewed the financial statements and proposed them for adoption to the Board of Directors and the General Assembly of the Bank’s Shareholders.

The profit before taxes for the year 2014 amounted to 1.611.511 thousand RSD.

In conclusion, the Board of Directors would like to thank all staff members of the Bank for their great efforts during the past year, in particular for the excellent implementation of plans and goals for the expansion of the bank’s activities in 2014.


BOARD OF DIRECTORS

Compliance

CEOPresident of

Executive Board

InternalAudit

FINANCEExecutive Board

Member

FinanceDivision

CORPORATE & GLOBAL MARKETS

Executive BoardMember

Corporate BankingDivision

Financial Institutions and Trade Finance

Division

SMEBankingDivision

Investment and Global MarketsDivision

RETAILExecutive Board

Member

Product Development Department

Sales and Distribution

Division

Partnership and Digital Banking

DepartmentMarketing

OPERATIONSExecutive Board

Member

ITBanking

Operations Division

RISKExecutive Board

Member

Underwriting Division

Integrated Risk Mangement Department

Retail Credit Risk Department

Corporate Credit Risk Department

Market and Operational Risk

Management Department

Restructuring and Workout

Division

Legal

Colateral Group

HumanResources

PR & Communication

Cabinet

Reception

Organization and EfficiencyManagement

Facility and Support

Management

Security Services

Organizational Structure Sberbank Serbia

18 Sberbank Serbia a.d.

www.sberbank.rs

godišnji izveštaj o poslovanju 2014

Documents