Ársskýrsla Landsbankans - Landsbankinn
Ársskýrsla Landsbankans - Landsbankinn Ársskýrsla Landsbankans - Landsbankinn
Consolidated Statement of Financial Position as at 31 December 2010 Notes 2010 2009 Assets 7 Cash and balances with Central Bank 47,777 26,174 6, 8 Bonds and debt instruments 161,559 165,721 6, 8 Equities and equity instruments 29,429 23,411 6, 9 Derivative instruments 23 971 10 Loans and advances to financial institutions 91,882 83,129 11, 37 Loans and advances to customers 592,954 667,122 12 Investments in associates 3,340 2,945 13 Property and equipment 5,016 6,030 14 Intangible assets 878 1,058 21 Deferred tax assets 1,522 6,682 15 Other assets 17,965 13,980 952,344 997,223 16 Assets classified as held for sale 128,789 63,878 Total assets 1,081,133 1,061,101 Liabilities 17 Due to financial institutions and Central Bank 147,478 98,228 18 Deposits from customers 371,558 452,655 6, 9 Derivative instruments and short positions 7,119 5,943 21 Tax liabilities 1,979 83 19, 37 Secured bonds 261,313 306,493 6,20,37 Contingent bond 26,510 10,241 22 Other liabilities 18,702 8,177 23 Equity 834,659 881,820 Liabilities associated with assets classified as held for sale 61,609 21,689 Total liabilities 896,268 903,509 Share capital 24,000 24,000 Share premium 123,898 123,898 Statutory reserve 2,932 741 Retained earnings 31,828 6,791 Total equity attributable to owners of the Bank 182,658 155,430 Non-controlling interests 2,207 2,162 Total equity 184,866 157,592 Total liabilities and equity 1,081,133 1,061,101 The accompanying notes are an integral part of these consolidated financial statements. NBI hf. Consolidated Financial Statements 2010 4 All amounts are in ISK million 104 Ársreikningur 2010 Allar upphæðir eru í milljónum króna
Consolidated Income Statement for the Year ended 31 December 2010 Notes 2010 2009 * Interest income 61,060 81,476 Interest expense (36,374) (66,902) 24 Net interest income 24,685 14,574 25 Net adjustments to loans and advances acquired at deep discount 49,702 23,772 4(i), 25 Loss from foreign currency linkage of loans and advances to customers (18,158) - 25, 61 Net impairment loss on loans and advances (14,636) (6,577) 6, 20 Fair value change of contingent bond (16,269) (10,241) Net adjustments in valuation 641 6,954 Net interest income after adjustments in valuation 25,326 21,528 Fee and commission income 6,292 6,835 Fee and commission expense (2,710) (2,622) 26 Net fee and commission income 3,582 4,213 27, 29 Net gain on financial assets designated as at fair value through profit or loss 6,359 4,020 28, 29 Net gain on financial assets and liabilities held for trading 2,536 3,062 30 Net foreign exchange gain (loss) 14,623 (3,000) 31 Other income and expenses (1,577) 902 Other net operating income 21,941 4,984 Total operating income 50,849 30,725 32 Salaries and related expenses 9,331 8,468 33 Other operating expenses 7,312 6,064 13 Depreciation and amortisation 1,311 1,278 34 Acquisition-related costs 542 1,044 Total operating expenses 18,496 16,854 12 Share of profit of associates, net of income tax 291 383 Profit before tax 32,644 14,254 35 Income tax expense (7,782) (615) 22 Tax on liabilities of financial institutions (400) - Profit for the year from continuing operations 24,462 13,639 Profit for the year from discontinued operations, net of income tax 2,769 693 Profit for the year 27,231 14,332 Profit (loss) for the year attributable to: Owners of the Bank Profit for the year from continuing operations 24,462 13,639 Profit for the year from discontinued operations 2,766 838 Profit for the year attributable to owners of the Bank 27,228 14,477 Non-controlling interests Profit for the year from continuing operations - - Profit (loss) for the year from discontinued operations 3 (145) Profit (loss) for the year attributable to non-controlling interests 3 (145) Profit for the year 27,231 14,332 * Certain comparative amounts have been changed in conformity with current year presentation (see Note 2 – Changes in presentation). The accompanying notes are an integral part of these consolidated financial statements. NBI hf. Consolidated Financial Statements 2010 5 All amounts are in ISK million Allar upphæðir eru í milljónum króna Ársreikningur 2010 105
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- Page 101 and 102: Landsbankinn Consolidated Financial
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Consolidated Income Statement for the Year ended 31 December 2010<br />
Notes 2010 2009 *<br />
Interest income 61,060 81,476<br />
Interest expense (36,374) (66,902)<br />
24 Net interest income 24,685 14,574<br />
25 Net adjustments to loans and advances acquired at deep discount 49,702 23,772<br />
4(i), 25 Loss from foreign currency linkage of loans and advances to customers (18,158) -<br />
25, 61 Net impairment loss on loans and advances (14,636) (6,577)<br />
6, 20 Fair value change of contingent bond (16,269) (10,241)<br />
Net adjustments in valuation 641 6,954<br />
Net interest income after adjustments in valuation 25,326 21,528<br />
Fee and commission income 6,292 6,835<br />
Fee and commission expense (2,710) (2,622)<br />
26 Net fee and commission income 3,582 4,213<br />
27, 29 Net gain on financial assets designated as at fair value through profit or loss 6,359 4,020<br />
28, 29 Net gain on financial assets and liabilities held for trading 2,536 3,062<br />
30 Net foreign exchange gain (loss) 14,623 (3,000)<br />
31 Other income and expenses (1,577) 902<br />
Other net operating income 21,941 4,984<br />
Total operating income 50,849 30,725<br />
32 Salaries and related expenses 9,331 8,468<br />
33 Other operating expenses 7,312 6,064<br />
13 Depreciation and amortisation 1,311 1,278<br />
34 Acquisition-related costs 542 1,044<br />
Total operating expenses 18,496 16,854<br />
12 Share of profit of associates, net of income tax 291 383<br />
Profit before tax 32,644 14,254<br />
35 Income tax expense (7,782) (615)<br />
22 Tax on liabilities of financial institutions (400) -<br />
Profit for the year from continuing operations 24,462 13,639<br />
Profit for the year from discontinued operations, net of income tax 2,769 693<br />
Profit for the year 27,231 14,332<br />
Profit (loss) for the year attributable to:<br />
Owners of the Bank<br />
Profit for the year from continuing operations 24,462 13,639<br />
Profit for the year from discontinued operations 2,766 838<br />
Profit for the year attributable to owners of the Bank 27,228 14,477<br />
Non-controlling interests<br />
Profit for the year from continuing operations - -<br />
Profit (loss) for the year from discontinued operations 3 (145)<br />
Profit (loss) for the year attributable to non-controlling interests 3 (145)<br />
Profit for the year 27,231 14,332<br />
* Certain comparative amounts have been changed in conformity with current year presentation (see Note 2 – Changes in presentation).<br />
The accompanying notes are an integral part of these consolidated financial statements.<br />
NBI hf. Consolidated Financial Statements 2010 5<br />
All amounts are in ISK million<br />
Allar upphæðir eru í milljónum króna Ársreikningur 2010 105
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