Ársskýrsla Landsbankans - Landsbankinn

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Consolidated Statement of Cash Flows for the Year ended 31 December 2010 Notes 2010 2009 Adjustments for non-cash items included in profit for the year 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) 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 13 Depreciation and amortisation 1,311 1,278 35 Income tax 7,782 615 22 Tax on liabilities of financial institutions 400 - 12 Share of profit of associates, net of income tax (291) (383) 27 Net (gain) loss on financial assets designated as at fair value through profit or loss (6,359) (4,020) 28 Net gain on financial assets held for trading (2,536) (3,062) 30 Net foreign exchange loss (gain) (14,308) 1,446 (39,329) (25,654) Changes in operating assets and liabilities Change in reserve requirement with Central Bank 3,400 (719) Change in bonds and equities (5,455) 8,829 Change in loans and advances to financial institutions (4,514) (21,895) Change in loans and advances to customers 23,117 (6,172) Change in other assets 200 5,003 Change in assets classified as held for sale (9,612) - Change in due to financial institutions and Central Bank 51,560 (31,019) Change in deposits from customers (80,954) 24,493 Change in tax liability (3,667) - Change in reposessed collateral 2,152 (4,419) Change in other liabilities 3,069 (3,871) Change in liabilities associated with assets classified as held for sale 9,406 - (11,300) (29,770) Cash and cash equivalents is specified as follow: 7 Cash and unrestricted balances with Central Bank 45,810 16,538 10 Bank accounts with financial institutions 6,844 4,628 Cash and cash equivalents at 31 December 52,654 21,166 The accompanying notes are an integral part of these consolidated financial statements. NBI hf. Consolidated Financial Statements 2010 8 All amounts are in ISK million 108 Ársreikningur 2010 Allar upphæðir eru í milljónum króna
Notes to the Consolidated Financial Statements Page Page General Capital management 1 Reporting entity.......................................................................................... 110 10 42 Capital management.................................................................................. 150 50 2 Basis of preparation................................................................................... 110-111 10-11 43 Capital base and capital adequacy ratio............................................... 150 50 3 Accounting policies.................................................................................... 111-123 12-22 4 Estimates and judgements........................................................................ 123-125 22-25 Risk management 5 Operating segments................................................................................... 126 26 44 Material financial risks ............................................................................. 151 51 45 Risk management process ....................................................................... 151 51 Notes to the Consolidated Statement of Financial Position 46 Risk management framework.................................................................. 151-152 51-52 6 Classification and fair value of financial assets and liabilities....... 126-130 26-30 47 Risk management division........................................................................ 152 52 7 Cash and balances with Central Bank................................................... 131 31 48 Risk policy and appetite............................................................................ 152 52 8 Bonds and equities..................................................................................... 131 31 49 Effects of the financial crisis................................................................... 152-153 52-53 9 Derivative instruments and short positions......................................... 132 32 Credit risk 10 Loans and advances to financial institutions...................................... 132 32 50 Credit risk...................................................................................................... 153 53 11 Loans and advances to customers.......................................................... 132 32 51 Credit risk management............................................................................ 153 53 12 Investments in associates......................................................................... 133 33 52 Credit risk mitigation................................................................................. 154 54 13 Property and equipment............................................................................ 133 33 53 Credit risk measurement........................................................................... 155 55 14 Intangible assets......................................................................................... 134 34 54 Loan impairment......................................................................................... 155 55 15 Other assets.................................................................................................. 134 34 55 Maximum exposure to credit risk and concentration 16 Assets and liabilities classified as held for sale................................... 134-135 34-35 by industry sectors................................................................................ 156-157 56-57 17 Due to financial institutions and Central Bank................................... 135 35 56 Loans and advances by industry sectors............................................... 158 58 18 Deposits from customers.......................................................................... 135 35 57 Credit quality of financial assets............................................................ 158 58 19 Secured bonds.............................................................................................. 135 35 58 Loans and advances neither past due nor individually impaired.... 159 59 20 Contingent bond......................................................................................... 136 36 59 Loans and advances past due but not individually impaired........... 159 59 21 Tax assets and liabilities............................................................................ 136-137 36-37 60 Individually impaired loans and advances to financial 22 Other liabilities............................................................................................ 138 38 institutions and customers.................................................................. 160 60 23 Equity............................................................................................................. 138 39 61 Allowance for impairment on loans and advances to financial institutions and customers................................................ 160 60 Notes to the Consolidated Income Statement 62 Renegotiated loans..................................................................................... 160 60 24 Net interest income.................................................................................... 140 40 63 Large exposures........................................................................................... 161 61 25 Net valuation change in loans and advanses ..................................... 140 40 64 Bonds and debt instruments.................................................................... 161 61 26 Net fee and commission income............................................................. 141 41 65 Derivative instruments............................................................................... 162 62 27 Net gain on financial assets designated as at fair value Liquidity risk through profit or loss............................................................................ 141 41 66 Liquidity risk................................................................................................. 162 62 28 Net gain on financial assets and liabilities held for trading............ 141 41 67 Liquidity risk management....................................................................... 162 62 29 Dividend income.......................................................................................... 141 41 68 Maturity analysis of financial assets and liabilities........................... 163-164 63-65 30 Net foreign exchange gain (loss)............................................................ 142 42 69 Maturity analysis of financial assets and liabilities by currency.... 165-166 65-66 31 Other income and expenses..................................................................... 142 42 Market risk 32 Salaries and related expenses.................................................................. 142 42 70 Market risk.................................................................................................... 167 67 33 Other operating expenses......................................................................... 143 43 71 Market risk management.......................................................................... 167 67 34 Acquisition-related costs.......................................................................... 143 43 72 Interest rate risk.......................................................................................... 167-168 67-68 35 Income tax expense.................................................................................... 143 43 73 Sensitivity analysis for trading portfolios............................................. 169 69 74 Sensitivity analysis for non-trading portfolios.................................... 170 70 Other notes 75 CPI indexation risk (all portfolios).......................................................... 171 71 36 Litigation....................................................................................................... 144-145 44-45 76 Currency risk (all portfolios)..................................................................... 171 71 37 Pledged assets.............................................................................................. 145 45 77 FX-delta......................................................................................................... 171 71 38 Leasing........................................................................................................... 145-146 45-46 78 Concentration of currency risk ............................................................... 173-175 72-73 39 Fiduciary activities...................................................................................... 146 46 79 Sensitivity to currency risk....................................................................... 173 73 40 Related party transactions....................................................................... 147-149 47-49 80 Foreign exchange rates used................................................................... 174 74 41 Events after the reporting period........................................................... 149 49 Operational risk 81 Operational risk........................................................................................... 174 74 NBI hf. Consolidated Financial Statements 2010 9 All amounts are in ISK million Allar upphæðir eru í milljónum króna Ársreikningur 2010 109
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Ársskýrsla 2010
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Lykiltölur Heildareignir Eiginfjá
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Efnisyfirlit 1. 2010 í hnotskurn .
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Júlí Þriðji ársfjórðungur Vi
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Ávarp formanns Bankaráðs og bank
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Steinþór Pálsson, bankastjóri S
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Fjármunamyndun % af VLF Millj. kr.
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Þróun verðbólgu Framlag til 12
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Heildareignir stærstu viðskiptaba
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Innleiðing stefnunnar Markmið Lan
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Ánægðir viðskiptavinir Viðskip
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Ávinningur samfélags og eigenda A
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Viðskiptabanki Viðskiptabanki Lan
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Útibúanet Landsbankans Landsbanki
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Fyrirtækjabanki Fyrirtækjabanki v
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Markaðir og fjárstýring Á svið
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Eignastýring Eignastýring veitir
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Vöxtur Global Equity í samanburð
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Endurskipulagning eigna Endurskipul
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Ferli fjárhagslegrar endurskipulag
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Stoðsvið og stoðdeildir Landsban
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Fjármál Á sviðinu eru starfandi
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Regluvarsla Regluvarsla er ein af g
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Skrifstofa bankastjóra Skrifstofa
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Reginn ehf. Reginn tók til starfa
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Mannauður Landsbankinn er þekking
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Kynjahlutfall og launamunur kynjann
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Vinnustaðagreining: Landsbankinn h
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Samfélagsleg ábyrgð Landsbankinn
Page 61 and 62: Steinþór Pálsson kynnir verkefni
Page 63 and 64: Menningarnótt Landsbankinn hefur v
Page 65 and 66: Stjórn og stjórnendur bankans Eig
Page 67 and 68: Frá vinstri: Ólafur Helgi Ólafss
Page 69 and 70: Helgi Teitur Helgason, Viðskiptaba
Page 71 and 72: Stjórnarhættir Það er markmið
Page 73 and 74: sérstakar nefndir í umboði Banka
Page 75 and 76: Helstu þættir í árangursmati Ba
Page 77 and 78: Hömlur - smærri fasteignir Tegund
Page 79 and 80: Áhættustýring Áhættustýring e
Page 81 and 82: Áhætta Útlánaáhætta Markaðs
Page 83 and 84: Markaðsáhætta Markaðsáhætta e
Page 85 and 86: Vaxtaáhætta utan veltubókar Vaxt
Page 87 and 88: Samantekt úr ársreikningi Afkoman
Page 89 and 90: Efnahagsreikningur - eignir 31.12.2
Page 91 and 92: Lausafjáreignir Þróun á lausafj
Page 93 and 94: Samsetning innlána 600.000 500.000
Page 95 and 96: Eigið fé 200.000 150.000 100.000
Page 97 and 98: Arðsemi eigin fjár 20% 15% 10% 5%
Page 99 and 100: Gjaldeyrisjöfnuður og gengismunur
Page 101 and 102: Landsbankinn Consolidated Financial
Page 103 and 104: Content Endorsement and Statement b
Page 105 and 106: Endorsement and Statement by the Bo
Page 107 and 108: Independent Auditor's Report To the
Page 109 and 110: Consolidated Income Statement for t
Page 111: Consolidated Statement of Cash Flow
Page 115 and 116: Notes to the Consolidated Financial
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Notes to the Consolidated Financial
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Útgefandi: Landsbankinn Ábyrgðar
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Landsbankinn þinn Þróun og áran
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Ársskýrsla Landsbankans - Landsbankinn

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