Geschäftsbericht 2008 - NordFinanz Bank AG

– more than three months
and up to one year € 24,912.78
– more than one year and
up to five years € 214,045.28
- more than five years € 23,146.09
Based on their respective maturity other amounts
due to customers with an agreed term or period of
notice break down as follows:
– up to three months € 57,592,460.07
– more than three months
and up to one year € 49,694,410.89
– more than one year and
up to five years € 47,368,631.05
– more than five years € 10,464,375.25
c) Other Liabilities
Individual items that are not insignificant include:
VAT to be remitted € 459,343.42
Withholding tax and solidarity
surcharge € 170,968.79
Trade payables € 150,106.12
d) Deferred Income
The amount reported includes deferred income
from the sale of receivables (surrender-of-use
commitment) as well as higher initial lease payments
from the leasing transaction in the amount of
€16,485,174.30.
e) Provisions for Pensions and Similar
Obligations
The net present value of the pension obligations recognized
as of December 31, 2008 is €3,294,770.00.
f) Subordinated Liabilities
This item is broken down as follows:
€2,556,459.41 (nom. DM 5,000,000.00) 6.60% p.a.
due and payable on Aug. 20, 2010
€2,556,459.41 (nom. DM 5,000,000.00) 6.25% p.a.
due and payable on Nov. 10, 2010
The liabilities will not become due and payable pre-
maturely. There are no plans to convert the liabilities
into equity or any other type of debt. In the event of
the Bank’s insolvency, composition, or liquidation,
the liabilities will only be redeemed after all nonsubordinated
creditors have been paid. The subordinated
liabilities fulfill the requirements of Section 10
(5a) of the German Banking Act.
During the year, interest expense of €328,505.03 was
incurred on the subordinated liabilities.
g) Equity
As part of its authorized capital of €6,150,000.00,
the Bank’s subscribed capital in the year under
review was increased from €14,350,000.00 by
€3,075,000.00 or 6,000 shares and amounted to
€17,425,000.00 at the balance sheet date.
The remainder of the authorized capital amounted to
€3,075,000.00 as of December 31, 2008.
The capital stock is divided into 34,000 no-par value
bearer shares.
The management report contains a detailed list of
shareholders,
As required by Section 20 of the German Stock
Corporation Act, E-Clear (UK) PLC, London, informed
us on January 7, 2008 that it owns more than one
fourth of the parent company’s stock.
NF-Bank