KB prezent. angl - Komerční banka

150 ➔151
Consolidated Financial Statements
under IFRS
Financial commitments and contingencies comprise:
CZK million 2003 2002
Non-payment guarantees including commitments to issued non-payment guarantees 8,633 7,541
Payment guarantees including commitments to issued payment guarantees 3,446 7,029
Letters of credit uncovered 576 942
Stand by letters of credit uncovered 846 471
Commitments from guarantees 13,501 15,983
Received bills of exchange/acceptances and endorsements of bills of exchange 62 0
Total contingent liabilities 13,563 15,983
Committed facilities 13,644 13,533
Undrawn credit commitments 20,785 23,831
Confirmed letters of credit 149 15
Unutilised overdrafts and approved overdraft loans 30,630 26,427
Unutilised discount facilities 510 908
Unutilised limits under Framework agreements to provide financial services 10,954 9,771
Total other commitments and unutilised overdrafts 76,672 74,485
Letters of credit covered 42 96
Stand by letters of credit covered 1 59
Total contingent revocable and irrevocable commitments 90,278 90,623
The Group provides a variety of credit facilities to its largest clients including Czech entities which are part of international groups and
which are State owned. Of the Group’s committed facilities and guarantees, CZK 6,220 million (2002: CZK 5,852 million) is revocable.
All other committed facilities, undrawn credit commitments and unutilised overdrafts are irrevocable and are not subject to further
approvals by the Group.
Payment guarantees provided to the subsidiary, Komercni Finance B. V., in connection with the issued subordinated debt (CZK 6,028 million
as of 31 December 2002) were withdrawn following the earlier repayment of the debt in accordance with issue terms and conditions
(refer also to Note 32).
Credit default swap instruments recorded as issued bank guarantees (2002: EUR 100 million) were closed out in the last quarter of 2003.
The risk associated with off balance sheet credit commitments and contingent liabilities is assessed similarly as for loans to
customers, taking into account the financial position and activities of the entity to which the Group issued the guarantee and taking
into account the collateral obtained. As of 31 December 2003, the Group recorded provisions for these risks amounting to
CZK 1,215 million (2002: CZK 2,317 million).
Finance lease commitments
The Group has entered into finance leases in respect of equipment (computers, ATMs and cars), the payments for which extend over
a three year period. The future commitments are included within the unconsolidated balance sheet line Other liabilities.
Assets held under finance leases:
CZK million 2003 2003 2002 2002
Including Excluding Including Excluding
interest interest interest interest
Leased assets 662 596 937 843
Paid instalments 516 474 604 552
Amounts due 146 122 333 291