Ársskýrsla Landsbankans - Landsbankinn

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Notes to the Consolidated Financial Statements 40. Related party transactions (continued) (b) Transactions with other related parties Information about the terms and amounts payable by the Bank to Landsbanki Íslands hf. is disclosed in Notes 19 and 20. The deposits from Landsbanki Íslands hf. amounted to ISK 33,418 million as at 31 December 2010 (2009: ISK 22,935 million). During the year 2010 the Bank recognised ISK 479 million from administrative services provided to Landsbanki Íslands hf. based on a service level agreement (2009: ISK 965 million). The following table presents the total amounts of loans to key management personnel and parties related to them and loans to associates: Loans in ISK million Balance at 31 December Highest amounts outstanding during year Balance at 31 December Highest amounts outstanding during year Key management personnel 161 200 84 99 Parties related to key management personnel 250 331 32 45 Associates 7,273 7,307 6,763 7,652 Total 7,684 7,838 6,879 7,797 No specific allowance for impairment was recognised in respect of these loans. No guarantees, pledges or commitments have been given or received in respect of these transactions in the period. There are no leasing transactions between related parties in the period. (c) Compensation to directors, CEOs and managing directors 2010 2009 Salary and Termination Salary and benefits for the year 2010 benefits benefits* Total Gunnar Helgi Hálfdanarson, Chairman of the Board of the Bank 5.3 - 5.3 Sigríður Hrólfsdóttir, Vice-chairman of the Board of the Bank 3.8 - 3.8 Guðríður Ólafsdóttir, member of the Board of the Bank 3.0 - 3.0 Þórdís Ingadóttir, member of the Board of the Bank 2.6 - 2.6 Ólafur Helgi Ólafsson, member of the Board of the Bank 0.6 - 0.6 Andri Geir Arinbjarnarson, j , alternate member of the Board of the Bank 2.7 - 2.7 Former members of the Board of the Bank 2.9 - 2.9 Other alternate directors of the board of the Bank 1.1 - 1.1 Ásmundur Stefánsson, former CEO of the Bank 6.0 9.3 15.3 Steinþór Pálsson, CEO of the Bank 7.9 - 7.9 8 Managing Directors of the Bank's divisions 57.8 - 57.8 5 former Managing Directors of the Bank 74.5 70.8 145.3 Managing Directors of subsidiaries Vestia, Horn, Reginn, Landsvaki and SP fjármögnun 56.0 - 56.0 Total 224.4 80.1 304.5 * Employment termination costs payable in the year 2011 were fully recognised as an expense in the year 2010. In 2010 the total monthly salary and benefits of the current CEO of the Bank amounted to ISK 1.1 million and the average monthly salary and benefits of current Managing Directors of the Bank's divisions amounted to ISK 1.5 million. The average total monthly salary and benefits of the former CEO of the Bank amounted to ISK 1.3 million and the average monthly salary and benefits of former Managing Directors of the Bank's divisions amounted to ISK 1.5 million In 2010 the Bank acquired two vehicles as part of the employment terms of two present Managing Directors of the Bank. The acquisition price of both vehicles amounted to ISK 7 million, which was equal to their market value at acquisition date. The vehicles have not been sold at year-end 2010. NBI hf. Consolidated Financial Statements 2010 48 All amounts are in ISK million 148 Ársreikningur 2010 Allar upphæðir eru í milljónum króna
Notes to the Consolidated Financial Statements 40. Related party transactions (continued) (c) Compensation to directors, CEOs and managing directors (continued) Salary and Termination Salary and benefits for the year 2009 benefits benefits Total Haukur Halldórsson, Chairman of the Board of the Bank 3.2 - 3.2 Erlendur Magnússon, Vice-chairman of the Board of the Bank 2.3 - 2.3 Stefanía K. Karlsdóttir, member of the Board of the Bank 1.6 - 1.6 Salvör Jónsdóttir, member of the Board of the Bank 1.6 - 1.6 Ása Richardsdóttir, alternate Director of the Board of the Bank 1.5 - 1.5 Alternate directors of the Board of Directors of the Bank 0.2 - 0.2 Ásmundur Stefánsson, CEO of the Bank 17.5 - 17.5 Elín Sigfúsdóttir, former CEO of the Bank 19.3 24.9 44.2 7 Managing Directors of the Bank's divisions 102.1 - 102.1 6 Managing Directors of subsidiaries 46.6 15.9 62.6 Total 196.0 40.8 236.8 (d) Transactions with the Minister of Finance and members of the Board of Directors of the ISFI The Minister of Finance and the members of the Board of Directors of the ISFI did not receive any salaries or similar payments from the Group during the year 2010. The Group did not enter into any transactions with these persons or close members of their families, other than lending and deposit taking during the normal course of commercial banking operations, with the exception of the following transaction with Sigurður B. Stefánsson, a member of the Board of Directors of the ISFI. On 9 March 2011 Eignarhaldsfélag NBI ehf., a subsidiary of the Bank, completed the acquisition of all shares in the company Rose Invest hf., half of which were owned by Sigurður B. Stefánsson, a member of the Board of the ISFI. Rose Invest hf. is licensed by the Icelandic Financial Supervisory Authority to operate UCITS and other funds for collective investment and investment advice. The acquisition will reinforce the Bank´s position further in the area of asset and fund management as the founders of Rose Invest hf., including Sigurður B. Stefánsson, have joined the Bank´s Asset Management Division. The acquisition price for the shares paid by Eignarhaldsfélag NBI ehf. to Sigurður B. Stefánsson amounted to ISK 23.7 million. 41. Events after the reporting period The main events after the reporting period are as follow: On 14 January 2011 the Icelandic Competition Authority approved the sale of controlling interests in the subsiaries Eignarhaldsfélagið Vestia ehf. and Icelandic Group hf. Further information about the transaction and an estimate of its financial effect is disclosed in Note 16. As part of the composition of the leasing company Avant hf. the Bank aquired the company. This transaction has no effects on the consolidated financial position of the Group as the Bank was the only creditor of Avant hf. On 7 March 2011, the Bank took over all assets, liabilities and operations of SpKef Savings Bank in accordance with the decision of the Financial Supervisory Authority in Iceland (FME). SpKef Savings Bank was owned entirely and directly by the Icelandic State Treasury previous to the transfer. The Icelandic State Treasury has committed to make a capital contribution to the Bank in order to compensate for the negative difference between the value of assets and liabilities taken over by the Bank. This takeover is done on an arm´s length basis under generally accepted commercial terms. The value of financial assets of SpKef is uncertain as due diligence is currently under progress where initial assumptions of fair value of assets and assumed liabilities taken over are being verified. Total liabilities of SpKef at 31 December 2010 where approximately ISK 60 billion. NBI hf. Consolidated Financial Statements 2010 49 All amounts are in ISK million Allar upphæðir eru í milljónum króna Ársreikningur 2010 149
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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%
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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
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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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