Ársskýrsla Landsbankans - Landsbankinn

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Notes to the Consolidated Financial Statements 22. Other liabilities 2010 2009 Unsettled securities trading 2,730 872 Withholding tax 2,893 3,927 Excess payments on lease and loan agreements (see Note 4(i)) 7,182 - Accounts payable 826 586 Unpaid contribution to the Depositors' and Investors' Guarantee Fund 680 680 Tax on liabilities of financial institutions 400 - Sundry liabilities 3,991 2,112 Total 18,702 8,177 Unsettled securities trading were settled in less than three days from the reporting date. Unpaid contribution to the Depositors' and Investors' Guarantee Fund According to Act No. 98/1999 on Deposit Guarantees and Investor Compensation Schemes, the Bank must, by 1 June of each year, contribute to the Depositors' and Investors' Guarantee Fund ("the Fund") an amount equivalent to 0.15% of the average of guaranteed deposits in the Bank, in the event of total Fund assets not equalling a minimum of 1% of the average amount of guaranteed deposits in commercial banks and savings banks during the preceding year. At the same time, the Bank must also submit to the Fund a declaration of liability whereby the Bank undertakes to render a special contribution to the Fund should the Fund become obliged to refund deposits to customers. This declaration of liability covers the proportion of the amount required to make up the minimum 1% of the average amount of guaranteed deposits. However, demands for contributions to the Fund based on declarations of liability may not exceed the equivalent of one-tenth of the Fund's minimum total assets. The Bank's management has concluded that the amount to be recognised as a liability in respect of the 0.15% yearly contribution shall only equal the amount that the Bank has no realistic alternative but to settle at each reporting date in accordance with the Act. This is the amount of the 0.15% contribution to be made by the Bank during the following calendar year, in respect of the current calendar year. Other regular contributions to be made by the Bank to the Fund in future years do not exist independent of the Bank's future actions and therefore do not represent a present obligation of the Bank at the reporting date. Accordingly, they are not recognised as part of the liability towards the Fund. Therefore, the amount recognised as liability as at 31 December 2010 amounts to ISK 680 million to be paid no later than 1 June 2011 (31 December 2009: ISK 680 million, paid to the Fund in March 2010). In respect of the declaration of liability of the Bank, the management of the Bank has concluded that a liability should be recognised in the statement of financial position in respect of its declaration outstanding at each reporting date only if an outflow of Bank resources is at the respective reporting date deemed more likely than not to occur. The Bank issued its first declaration of liability to the Fund in November 2009, for a maximum amount of ISK 33,769 769 million million, of which no more than ISK 11,610 610 million may be requested as a special contribution to the Fund according to the Act. The Bank issued in 2010 a new declaration of liability to the Fund for a maximum amount of ISK 3,851 million, of which no more than ISK 1,611 million may be requested as a special contribution to the Fund according to the Act. The Bank did not issue a new declaration of liability between the end of the current reporting period and the date when these consolidated financial statements are authorised for issue. The Group did not recognise any liability in these consolidated financial statements in respect of the declarations of liability outstanding at year-end 2010 and 2009. The Government of Iceland is currently working on changing the Act and a bill has been presented for approval by the Icelandic Parliament. Based on the current draft of this bill, the Bank's management expects its yearly contributions to increase as a result of changes in legal requirements. Tax on liabilities of financial institutions On 27 December 2010 the Parliament of Iceland passed a bill (Act no. 155/2010 on special tax on financial institutions) according to which certain types of financial institutions must pay annually a tax calculated as 0.041% of the carrying amount of their liabilities as determined for tax purposes. NBI hf. Consolidated Financial Statements 2010 38 All amounts are in ISK million 138 Ársreikningur 2010 Allar upphæðir eru í milljónum króna
Notes to the Consolidated Financial Statements 23. Equity Share capital The total number of ordinary shares authorised and issued by the Bank at year-end 2010 and 2009 was 24 billion shares, with par value of ISK 1 per share. One vote is attached to each share of one ISK and the holders of ordinary shares are entitled to one vote per share at general meetings of the Bank. All issued shares are fully paid. Restriction of dividend payments As part of the acquisition price for the Icelandic operations of Landsbanki Íslands hf., the Bank issued senior secured bonds (see Notes 19 and 37). If the Bank makes any dividend payments, it shall thereby redeem the bond on a pro-rata basis in amounts equal to the dividend payments. The bonds mature in 2018. According to the Company Act No. 2/1995, it is only permissible to allocate as dividend profit in accordance with approved annual financial statements for the immediate past financial year, profit brought forward from previous years and free funds after deducting loss which has not been met and the moneys which according to laws or Articles of Association must be contributed to a reserve fund or for other use. Share premium Share premium represents the difference between the ISK amount received by the Bank when issuing share capital and the nominal amount of the shares issued, less costs directly attributable to issuing the new shares, net of any related tax benefit. Statutory reserve The statutory reserve is created in accordance with requirements of the Company Act No. 2/1995, according to which at least 10% of the profit of the Bank, which is not devoted to meeting losses of previous years and is not contributed to other legally stipulated reserves must be contributed to the statutory reserve until it amounts to 10% of the share capital of the Bank. When that limit has been reached the contribution to the statutory reserve must be at a minimum 5% until the reserve amounts to a quarter of the share capital of the Bank. Retained earnings Retained earnings consist of undistributed profits and losses accumulated by the Group since the foundation of the Bank, less transfers to the statutory reserve of the Bank. NBI hf. Consolidated Financial Statements 2010 39 All amounts are in ISK million Allar upphæðir eru í milljónum króna Ársreikningur 2010 139
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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
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Steinþór Pálsson kynnir verkefni
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Menningarnótt Landsbankinn hefur v
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Stjórn og stjórnendur bankans Eig
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Frá vinstri: Ólafur Helgi Ólafss
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Helgi Teitur Helgason, Viðskiptaba
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Stjórnarhættir Það er markmið
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sérstakar nefndir í umboði Banka
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Helstu þættir í árangursmati Ba
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Hömlur - smærri fasteignir Tegund
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Áhættustýring Áhættustýring e
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Áhætta Útlánaáhætta Markaðs
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Markaðsáhætta Markaðsáhætta e
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Vaxtaáhætta utan veltubókar Vaxt
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Samantekt úr ársreikningi Afkoman
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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 and 112: Consolidated Statement of Cash Flow
Page 113 and 114: Notes to the Consolidated Financial
Page 141: Notes to the Consolidated Financial
Page 180 and 181: Útgefandi: Landsbankinn Ábyrgðar
Page 182: Landsbankinn þinn Þróun og áran
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Ársskýrsla Landsbankans - Landsbankinn

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