Ársskýrsla Landsbankans - Landsbankinn

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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
Notes to the Consolidated Financial Statements 40. Related party transactions Related parties The Icelandic State Treasury, on behalf of the Icelandic State, holds 81,3% of the shares in the Bank. Government bodies and public institutions qualifying as related parties are the Ministry of Finance, the ISFI (Icelandic State Financial Investments), and entities and institutions related to them. Transactions between the Bank and its subsidiaries meet the definition of related party transactions. All transactions with subsidiaries are eliminated on consolidation and are thus not disclosed in the Group's consolidated financial statements. The main subsidiaries of the Bank at 31 December 2010 were the following: Company Ownership interest Activity <strong>Landsbankinn</strong> eignarhaldsfélag ehf. (Iceland) 100% Holding company Eignarhaldsfélagið NBI ehf. (Iceland) 100% Holding company Horn fjárfestingarfélag ehf. (Iceland) 100% Investment company Eignarhaldsfélagið Vestia ehf. (Iceland) 100% Holding company Reginn ehf. (Iceland) 100% Real estate company SP-fjármögnun hf. (Iceland) 100% Leasing company Landsvaki hf. (Iceland) 100% Management company for mutual funds Hömlur ehf. (Iceland) 100% Holding company Blámi - fjárfestingafélag ehf (iceland) 100% Holding company Vörður líftrygging ehf. (Iceland) 60% Insurance company Verðbréfun hf. (Iceland) 100% Securitisation company Landsbanki Vatnsafl ehf. (Iceland) 100% Holding company Stofnlánadeild Samvinnufélaga (Iceland) 100% Holding company Span ehf. (Iceland) 100% IT-services Landsbanki Holdings UK plc (United Kingdom) 100% Holding company Landsbanki Íslands hf. has significant influence over the Bank, indirectly through its wholly-owned subsidiary Landsskil ehf., which holds 18.7% of the shares in the Bank. Landsskil ehf. appoints one of the five members of the Board of Directors of the Bank and Landsbanki Íslands hf. has also influence through its observer members of various committees of the Bank. Although these observer members do not have rights to take part in the decision process during meetings of the committees of the Bank they can submit their own comments outside such meetings, which can have a significant impact on decision outcomes. Due to the ownership, its member on the Board of Directors of the Bank and influence through the committees of the Bank, Landsbanki Íslands hf. meets the definition of related party. The key management personnel of the Bank and its close family members meet the definition of related parties and in some cases the key management personnel of the Bank´s subsidiaries. The key management personnel of the Bank are the members of the Board of Directors, CEO, Managing Directors and other directors having authority and responsibility for planning, directing, and controlling the activities of the Bank. The Minister of Finance and the members of the Board of Directors of ISFI meet the definition of key management personnel of the Bank due to their ability to influence the policy of the Bank. Transactions with related parties (a) Transactions with the Icelandic government and government-related entities The Group’s products and services are offered to the Icelandic government and government-related entities in competition with other vendors and under generally accepted commercial terms. In a similar manner, the Bank and other Group entities purchase products and services from governmentrelated entities at market price and otherwise under generally accepted commercial terms. The nature and outstanding amounts receivable from public entities are disclosed in Note 55. NBI hf. Consolidated Financial Statements 2010 47 All amounts are in ISK million Allar upphæðir eru í milljónum króna Ársreikningur 2010 147
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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
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Lausafjáreignir Þróun á lausafj
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Samsetning innlána 600.000 500.000
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Eigið fé 200.000 150.000 100.000
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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
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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 149: 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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