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26
Income statement
2013
2012
Change
Millions
of euros
Millions
of euros
Millions
of euros
Per cent
Net interest income
56.2
57.7
–1.6
–2.7%
Income from securities and investments
17.8
15.1
2.7
18.2%
Commission income
22.4
22.1
0.3
1.5%
Income from financial transactions
3.1
3.4
–0.3
–7.7%
Other operating income
11.3
12.0
–0.6
–5.3%
OPERATING INCOME
110.9
110.2
0.6
0.6%
Personnel costs
–38.9
–38.9
0.0
–0.1%
Other administrative costs (operating expenses)
–26.9
–24.8
2.1
8.5%
Impairment losses on assets
–2.6
–2.8
–0.2
–7.9%
Other operating costs
–1.7
–0.7
1.0
150.0%
TOTAL OPERATING COSTS
–70.0
–67.2
2.9
4.3%
OPERATING PROFIT
40.8
43.1
–2.2
–5.2%
Net expense for impairment losses on receivables
–16.0
–12.8
3.2
25.2%
Net expense for impairment losses on securities
and participating interests
0.8
–5.5
–6.3
–113.6%
Profit from ordinary activities
25.6
24.8
0.8
3.3%
Taxes on income
–4.1
–10.0
–5.9
–59.0%
Other taxes not posted under previous item
–3.6
–3.6
0.0
0.6%
Net profit
17.9
11.2
6.7
59.8%
Movements in reserves
–9.4
–2.7
6.7
247.2%
Annual profit
8.5
8.5
0.0
0.0%
Profit carried forward
0.0
0.0
0.0
0.0%
Net income
8.5
8.5
0.0
0.0%
The 2013 operating income was 0.6 per cent, or 0.6 million euros down, at 110.9 million euros. This was largely due to a rise in income
from securities and participating interests, which was up 18.2 per cent, or 2.7 million euros, at 17.8 million euros. Commission income also
rose slightly by 1.5 per cent, or 0.3 million euros, to 22.4 million euros. Net interest income was down by 2.7 per cent, or 1.6 million euros,
at 56.2 million euros, while income from financial transactions rose by 7.7 per cent, or 0.3 million euros, to 3.1 million euros. Other operating
income was also down by 5.3 per cent, or 0.6 million euros, to 11.3 million euros.
The increase of 4.3 per cent in operating expenses, by 2.9 million euros to 70.0 million euros, is chiefly due to an increase in other
administrative expenses. These rose by 8.5 per cent, or 2.1 million euros, to 26.9 million euros. Also up were other operating expenses by
1.0 million euros to 1.7 million euros. Impairment losses on assets were slightly down by 7.9 per cent, or 0.2 million euros, to 2.6 million
euros. Also slightly down were personnel costs, which fell by 0.1 per cent to 38.9 million euros, thus settling at the 2012 level.
The balance from reversals of and allocations to impairment losses on receivables and provisions for contingent liabilities rose by 3.2 million
euros to 16.0 million euros. Meanwhile, there is now a net gain from the sum of impairment losses on securities valued as financial assets
and participating interests plus income from write-ups of securities valued as financial assets. These now amount to 0.8 million euros,
compared with expenses of 5.5 million euros in 2012.
Despite the difficult market conditions, we succeeded in increasing our profit from ordinary activities by 3.3 per cent, or 0.8 million euros,
to 25.6 million euros.
Tax expenses fell by 5.9 million euros to 7.7 million euros. A total of 9.4 million euros was allocated to the reserves.
At 8.5 million euros, the annual profit stood at the same level as in 2012.
Bank branches report
As of 31 December 2013, Raiffeisen-Landesbank Tirol AG was operating 22 bank branches in its marketing territory, five of them as
self-service banking outlets.
The personnel of RLB Tirol AG looked after the banking needs of around 69,700 customers.
Management report