Ársskýrsla Landsbankans - Landsbankinn
Ársskýrsla Landsbankans - Landsbankinn Ársskýrsla Landsbankans - Landsbankinn
Notes to the Consolidated Financial Statements 9. Derivative instruments and short positions 2010 2009 Notional Fair value Notional Fair value Foreign exchange derivatives amount Assets Liabilities amount Assets Liabilities Currency forwards 22,359 20 769 9,323 262 1 Cross-currency interest rate swaps 1,897 - 659 2,415 - 672 OTC currency options 20,424 - - 59,703 700 - 44,680 20 1,428 71,441 962 673 Interest rate derivatives Interest rate swaps 3,294 3 17 3,318 9 2 3,294 3 17 3,318 9 2 Short positions - listed bonds - - 5,675 - - 5,268 Total 47,974 23 7,119 74,759 971 5,943 The Group uses derivatives both for hedging and trading purposes. The Bank has bought the OTC currency options in order to economically hedge its foreign currency imbalance against excessive adverse movements in some of the major foreign currencies. The delta of these options at 31 December 2010 is nil (2009: ISK 9,989 million). 10. Loans and advances to financial institutions 2010 2009 Bank accounts with financial institutions 6,844 4,628 Money market loans 63,549 58,488 Overdrafts 6,844 6,247 Other loans 16,823 14,493 Less: Allowance for impairment (2,178) (727) Total 91,882 83,129 11. Loans and advances to customers 2010 2009 Public entities 13,928 10,582 Individuals 166,069 177,561 Corporations 434,080 486,739 Less: Allowance for impairment (21,122) (7,760) Total 592,954 667,122 During the reporting period the Group was not permitted to sell or repledge any collateral in absence of default by the owner of the collateral. Further disclosures on loans and advances are provided in the risk management section of the notes. NBI hf. Consolidated Financial Statements 2010 32 All amounts are in ISK million 132 Ársreikningur 2010 Allar upphæðir eru í milljónum króna
Notes to the Consolidated Financial Statements 12. Investments in associates 2010 2009 Carrying amount at the beginning of the year 2,945 2,518 Acquisitions 103 44 Share of profit of associates, net of income tax 291 383 Total 3,340 2,945 Share of Total Total Profit Ownership profit of Carrying At 31 December 2010 assets liabilities (loss) interest associates amount Valitor Holding hf. 6,165 7 1,014 38% 385 2,340 Kredikort hf. 7,206 6,654 (299) 20% (60) 110 Borgun hf. 15,394 14,188 191 20% 38 241 Reiknistofa bankanna 1,699 248 - 34% - 515 Intrum hf. 615 293 7 33% (1) 96 Auðkenni hf. 222 51 4 20% (71) 37 Total 31,079 21,389 913 291 3,340 At 31 December 2009 Valitor Holding hf. 37,699 32,554 1,008 38% 383 1,955 Kredikort hf. 8,365 7,514 2 20% - 170 Borgun hf. 15,340 14,325 177 20% 34 206 Reiknistofa bankanna 1,772 254 - 34% - 515 Intrum hf. 795 506 (108) 33% (34) 99 Total 63,971 55,153 1,079 383 2,945 All associates are unlisted companies. 13. Property and equipment 2010 2009 Fixtures, Fixtures, equipment equipment BBuildings ildi and d vehicles hi l Ttl Total Buildings B ildi and d vehicles hi l Ttl Total Carrying amount at the beginning of the year 3,447 2,583 6,030 3,422 3,442 6,864 Additions during the year 5 86 91 125 174 299 Sold during the year (75) (4) (79) (24) (105) (129) Depreciation (78) (948) (1,026) (76) (928) (1,004) Carrying amount at 31 December 3,299 1,717 5,016 3,447 2,583 6,030 Gross carrying amount 3,458 3,786 7,244 3,529 3,521 7,050 Accumulated depreciation (159) (2,070) (2,228) (82) (938) (1,020) Carrying amount at 31 December 3,299 1,717 5,016 3,447 2,583 6,030 Depreciation rates 2-4% 10-33% 2-4% 10-33% Official assessment value of buildings at 31 December 2010 2009 Official assessment value used for tax purposes 3,732 3,913 Replacement value used for insurance purposes 7,142 7,179 Depreciation and amortisation presented in the income statement consists of: 2010 2009 Depreciation of property and equipment 1,026 1,004 Amortisation of intangible assets 285 274 Total 1,311 1,278 NBI hf. Consolidated Financial Statements 2010 33 All amounts are in ISK million Allar upphæðir eru í milljónum króna Ársreikningur 2010 133
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Notes to the Consolidated Financial Statements<br />
12. Investments in associates<br />
2010 2009<br />
Carrying amount at the beginning of the year<br />
2,945 2,518<br />
Acquisitions 103 44<br />
Share of profit of associates, net of income tax 291 383<br />
Total 3,340 2,945<br />
Share of<br />
Total Total Profit Ownership profit of Carrying<br />
At 31 December 2010 assets liabilities (loss) interest associates amount<br />
Valitor Holding hf. 6,165 7 1,014 38% 385 2,340<br />
Kredikort hf. 7,206 6,654 (299) 20% (60) 110<br />
Borgun hf. 15,394 14,188 191 20% 38 241<br />
Reiknistofa bankanna 1,699 248 - 34% - 515<br />
Intrum hf. 615 293 7 33% (1) 96<br />
Auðkenni hf. 222 51 4 20% (71) 37<br />
Total 31,079 21,389 913 291 3,340<br />
At 31 December 2009<br />
Valitor Holding hf. 37,699 32,554 1,008 38% 383 1,955<br />
Kredikort hf. 8,365 7,514 2 20% - 170<br />
Borgun hf. 15,340 14,325 177 20% 34 206<br />
Reiknistofa bankanna 1,772 254 - 34% - 515<br />
Intrum hf. 795 506 (108) 33% (34) 99<br />
Total 63,971 55,153 1,079 383 2,945<br />
All associates are unlisted companies.<br />
13. Property and equipment<br />
2010<br />
2009<br />
Fixtures,<br />
Fixtures,<br />
equipment<br />
equipment<br />
BBuildings ildi and d vehicles hi l Ttl Total Buildings B ildi and d vehicles hi l Ttl Total<br />
Carrying amount at the beginning of the year 3,447 2,583 6,030 3,422 3,442 6,864<br />
Additions during the year 5 86 91 125 174 299<br />
Sold during the year (75) (4) (79) (24) (105) (129)<br />
Depreciation (78) (948) (1,026) (76) (928) (1,004)<br />
Carrying amount at 31 December 3,299 1,717 5,016 3,447 2,583 6,030<br />
Gross carrying amount 3,458 3,786 7,244 3,529 3,521 7,050<br />
Accumulated depreciation (159) (2,070) (2,228) (82) (938) (1,020)<br />
Carrying amount at 31 December 3,299 1,717 5,016 3,447 2,583 6,030<br />
Depreciation rates 2-4% 10-33% 2-4% 10-33%<br />
Official assessment value of buildings at 31 December 2010 2009<br />
Official assessment value used for tax purposes 3,732 3,913<br />
Replacement value used for insurance purposes 7,142 7,179<br />
Depreciation and amortisation presented in the income statement consists of: 2010 2009<br />
Depreciation of property and equipment 1,026 1,004<br />
Amortisation of intangible assets 285 274<br />
Total 1,311 1,278<br />
NBI hf. Consolidated Financial Statements 2010 33<br />
All amounts are in ISK million<br />
Allar upphæðir eru í milljónum króna Ársreikningur 2010 133
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