S T O P A N S K A B A N K A AD – S K O P J E
DECISION
on approval of the Annual Account and Annual Financial Statements of Stopanska Banka AD Skopje for the year ended 31 December 2016
Skopje, May 2017
On the basis of Articles 26 of the Statute of Stopanska Banka AD - Skopje (A.D. No 339/15.12.2016,
revised text) the Shareholders Assembly of Stopanska Banka AD - Skopje on the meeting held on
_________05.2017, passed a
DECISION
on approval of the Annual Account and Annual Financial Statements of Stopanska Banka AD Skopje for the year ended 31 December 2016
1. The Annual Account and Annual Financial Statements of Stopanska Banka AD - Skopje for
the year 2016, is hereby approved as follows:
(in thousands of MKD)
- Total assets
- Total liabilities and equity
- Total revenue
- Total expense
- Income
86,153,340
86,153,340
6,099,118
3,595,397
2,503,721
2. The structure of total assets and total liabilities as at December 31st, 2016 is determined
as follows:
ASSETS
- Cash and cash equivalents
- Trading financial assets
- Investments in securities
- Placement with, and loans to, banks
- Loans to customers
- Property and equipment
- Assets acquired through foreclosure proceedings
- Other assets
TOTAL ASSETS
LIABILITIES&EQUITY
- Deposits from banks and other financial institutions
- Deposits from customers
- Loans payable
- Other liabilities
- Share capital
- Reserves
- Accumulated earnings
TOTAL LIABILITIES AND EQUITY
17,567,743
2,251
8,351,655
178,315
58,654,991
953,242
191,936
253,207
86,153,340
1,742,752
68,291,877
557,727
1,885,686
3,511,242
899,689
9,264,367
86,153,340
3. The structure of total income and total expenses, in accordance with the figures in Item
1 of this Decision, is determined as follows:
(in thousands of MKD)
6,099,118
A. Total revenues
- Interest income
- Fee and commission income
- Trading (expense)/income, net
- Foreign exchange gains, net
- Other income
4,526,636
1,052,579
66,350
114,899
338,654
B. Total expenses
3,595,397
- Interest expense
- Fee and commission expense
- Impairment losses, net
- Personnel expenses
- Other expenses
889,519
100,964
490,974
795,313
1,318,627
4. Realized income in 2016 is determined in the amount of 2,503,721 thousand denars.
Realized income is distributed as follows:
(in thousands of MKD)
- Income tax
- Not distributed income
263,930
2,239,791
5. The not distributed income will be distributed with separate Decision for distribution
of income for the year 2016.
6. The Annual Financial Statements - Balance Sheet and Income Statement for the year
2016 are integral part of this Decision.
7. This Decision shall enter into force on the day it is passed.
A.D. No.
________.05.2017
Skopje
SHAREHOLDERS ASSEMBLY
Chairman,
EXPLANATORY NOTE
The financial statements of Stopanska Banka AD – Skopje for the year 2016 areprepared in
compliance with the Methodology for recording and valuating the accounting items and for
preparing the financial statements (hereinafter referred to as “Methodology”), prescribed by the
Central Bank and which is implemented as of 1 January 2011.
The structure of assets, liabilities and equity, as well as of revenues and expenses is as
follows:
1.
The Balance Sheet
Total assets at the level of the Bank amount to 86,153,340 thousand denars.
According to the share of each of the categories in total assets, the positions are as follows:
- Cash and cash equivalents
- Trading financial assets
- Investments in securities
- Placement with, and loans to, banks
- Loans to customers
- Property and equipment
- Assets acquired through foreclosure proceedings
- Other assets
20,39%
0,00%
9,69%
0,21%
68,08%
1,12%
0,22%
0,29%
According to the share of each of the categories, the structure of liabilities and equity is as
follows:
- Deposits from banks and other financial institutions
- Deposits from customers
- Loans payable
- Other liabilities
- Share capital
- Reserves
- Accumulated earnings
2,02%
79,27%
0,65%
2,19%
4,08%
1,04%
10,75%
The Bank's shareholding capital as of December 31, 2016, without taking in consideration of
accumulated earnings in previous years and realized income in current year, is MKD 3,511,242
thousand.
II.
Statement of Revenues and Expenses
In the fiscal year 2016, the total revenues amount to 6,099,118 thousand denars and the
total expenses amount to 3,595,397 thousand denars, resulting in profit before tax in the amount
of 2,503,721 thousand denars.
Total revenue
Participation of each of the categories in the overall revenue structure is as follows:
- Interest income
- Fee and commission income
- Trading (expense)/income, net
- Foreign exchange gains, net
- Other income
74,22%
17,26%
1,09%
1,88%
5,55%
Total expenses
Participation of each of the categories in the overall expense structure is as follows:
- Interest expense
- Fee and commission expense
- Impairment losses, net
- Personnel expenses
- Other expenses
24,74%
2,81%
13,65%
22,12%
36,68%
Income and income distribution
In the fiscal year 2016, the Bank realized income before taxation in the amount of 2,503,721
thousand denars.
In accordance with the legislation, from the income before taxation, income tax was
calculated in the amount of 263,930 thousand denars. Thus, not distributed income that will be
distributed with separate Decision for distribution of income for 2016 year amounts to 2,239,791
thousand denars.
The Supervisory Board approved the enclosed decision on its 217th meeting, held on April
28 , 2017.
th
In view of the above it is proposed the Shareholders assembly to pass the enclosed Decision.
Skopje April, 2017
Supervisory Board
BALANCE SHEET
as at December 31, 2016
(In thousand of Denars)
2016
ASSETS
Cash and cash equivalents
Trading financial assets
Financial assets at fair value through income statement
determined as such at initial recognition
Derivative assets held for risk management
Placements with, and loans to banks
Loans to customers
Investments in securities
Investments in associates
Receivables for income tax (current)
Other receivables
Collateralized assets
Assets acquired through foreclosure proceedings
Intangible assets
Property and equipment
Deferred tax assets
Non-current assets held for sale and group for sale
Total assets
2015
17,567,743
2,251
16,896,236
329,981
178,315
58,654,991
8,351,655
147,577
191,936
105,630
953,242
86,153,340
172,202
55,575,859
10,488,640
131,909
289,023
86,710
915,070
84,885,630
LIABILITIES
Trading financial liabilities
Financial liabilities at fair value through income statement
determined as such at initial recognition
Derivative obligation held for risk management
Deposits from banks and financial institutions
Deposits from customers
Issued debt securities
Loans payable
Subordinated debt
Special reserve and provisions
Income tax payable (current)
Deferred tax liabilities
Other liabilities
Liabilities directly related to group of assets for sale
Total liabilities
-
-
1,742,752
68,291,877
557,727
173,481
61,410
1,650,795
72,478,042
731,949
67,103,738
745,600
167,918
76,451
1,942,140
70,767,796
EQUITY
Share capital
Share premia
Registered shares
Other equity instruments
Revaluation Reserves
Other Reserves
Retained earnings
Total equity and reserves
Total liabilities and equity and reserves
3,511,242
68,316
831,373
9,264,367
13,675,298
86,153,340
3,511,242
(25,525)
831,373
9,800,744
14,117,834
84,885,630
Contingent liabilities
Contingent assets
13,717,866
-
11,587,216
-
INCOME STATEMENT
for the period from January 1, 2016 to December 31, 2016
(In thousands of Denars)
2016
2015
Interest income
4,526,636
4,501,309
Interest expense
Net interest income
(889,519)
3,637,117
(1,130,620)
3,370,689
Fee and commission income
Fee and commission expense
Net fee and commission income
1,052,579
(100,964)
951,615
1,033,688
(98,587)
935,101
Trading (expense)/income, net
Trading (expense)/income from other financial instruments, net
Foreign exchange gains, net
Other operating income
Share in the profit of associates
Impairment losses on financial assets, net
Impairment losses on non-financial assets, net
Personnel expenses
Depreciation and amortization
Other operating expenses
Share in the loss of associated companies
66,350
114,899
338,654
(490,974)
(154,022)
(795,313)
(125,113)
(1,039,492)
-
13,307
71,670
249,441
(510,231)
(73,256)
(796,253)
(108,845)
(1,009,685)
-
Profit before tax
2,503,721
2,141,938
Income tax
Net profit for the year
Earning per shares
Basic earnings per share (in MKD)
Diluted earnings per share (in MKD)
(263,930)
(225,239)
2,239,791
1,916,699
128.28
128.28
109.77
109.77