KB prezent. angl - Komerční banka

130 ➔131
Consolidated Financial Statements
under IFRS
7. Net profit/(loss) on financial operations
Net profit/(loss) on financial operations comprises:
CZK million 2003 2002
Net realised gains/(losses) on securities 17 663
Net unrealised gains/(losses) on securities (22) (150)
Dividend income on securities held for trading and available for sale 37 38
Net realised and unrealised gains/(losses) on security derivatives (5) (84)
Net realised and unrealised gains/(losses) on interest rate and credit derivatives 59 (15)
Net realised and unrealised gains/(losses) on trading commodity derivatives 2 2
Net realised and unrealised gains/(losses) on foreign exchange financial derivatives, spot foreign exchange
transactions and re-translation of foreign currency assets and liabilities 620 979
Net profit/(loss) on financial operations 708 1,433
8. Other income
Other income comprises:
CZK million 2003 2002
Other income 588 2,640
Total other income 588 2,640
Other income is predominantly composed of fees for authorisation and maintenance services connected with the payment cards
system, property rental income and compensation received in respect of property damage. The 2002 comparative balance was
restated pursuant to the methodology applicable for the year ended 31 December 2003; the creation of technical reserves of the
insurance company amounting to CZK 561 million was reallocated from Depreciation and other provisions to Other income which
includes written premiums. In 2002, other income also reflected income of CZK 838 million arising from the release of technical
reserves associated with the transfer of the third party motor liability insurance and accident insurance portfolios of Komerční
pojišťovna, a. s.
9. Administrative expenses
Administrative expenses comprise:
CZK million 2003 2002
Wages, salaries and bonuses 4,109 4,345
Social security costs 1,436 1,649
Employees’ expenses 5,545 5,994
Other administrative expenses 4,743 6,467
Total administrative expenses 10,288 12,461
Number of employees at the end of the period 8,813 9,951
Average recalculated number of employees during the period 9,288 10,361
Average cost per employee (CZK) 597,007 578,516