Ársskýrsla Landsbankans - Landsbankinn

Notes to the Consolidated Financial Statements
38. Leasing (continued)
Finance lease commitments where the Group is lessor
The Group acts as lessor, through its subsidiary SP-fjármögnun hf., whereby items of plant and equipment are leased to third parties under
arrangements qualifying as finance leases. Finance lease receivables are included within loans and advances to customers.
The net investment in finance lease receivables was as follows:
At 31 December 2010
Gross
investment
in finance
lease
Future
finance
income
Present
value of
minimum
lease
Less than 1 year 7,573 (1,412) 6,161
More than 1 year and less than 5 years 16,870 (2,065) 14,805
More than 5 years 1,306 (41) 1,265
Total 25,749 (3,518) 22,231
At 31 December 2009
Less than 1 year 12,962 (1,269) 11,692
More than 1 year and less than 5 years 32,850 (2,662) 30,187
More than 5 years 6,433 (365) 6,068
Total 52,245 (4,296) 47,947
Unguaranteed residual value at year end 2010 is nil (2009: nil).
39. Fiduciary activities
The Group provides asset custody, asset management, investment management and advisory services. All of them require the Group to make
decisions on the handling, acquisition or disposal of financial instruments. Assets in Bank custody are not reported in the consolidated financial
statements, since they are not assets of the Bank. One aspect of these services is that the Group is involved in approving objectives and criteria for
investing assets in its custody. As of 31 December 2010, financial assets managed by the Group amounted to ISK 100 billion (2009: ISK 142 billion).
Custody accounts amounted to ISK 998 billion (2009: ISK 1,209 billion).
NBI hf. Consolidated Financial Statements 2010 46
All amounts are in ISK million
146 Ársreikningur 2010 Allar upphæðir eru í milljónum króna