KB prezent. angl - Komerční banka

162 ➔163
Consolidated Financial Statements
under IFRS
(F) Foreign exchange position
The table below provides an analysis of the Group‘s main currency exposures. The remaining currencies are shown within “Other
currencies”. Whilst the Group monitors its foreign exchange position for compliance with the regulatory requirements of the Czech
National Bank established in respect of limits on open positions, the most significant tool for measuring the Group’s open foreign
currency position involves monitoring the “value at risk” limit on the foreign exchange exposure of the whole Bank. In establishing
the “value at risk” the Group monitors its open foreign currency position in 14 currencies and offsets mutual correlations. The “value
at risk” limit is established such that the Group is unable to breach the regulatory limits of the Czech National Bank without breaching
the “value at risk” limit. Further information about risk management is provided in Note B.
CZK million Czech Eurozone US Swiss Slovak Other Total
crowns currencies dollars francs crowns currencies
Assets
Cash and current balances with banks 9,824 1,838 299 116 144 228 12,449
Amounts due from banks 189,714 8,680 2,440 212 468 609 202,123
Securities held for trading 25,239 0 0 0 737 129 26,105
Positive fair values of financial
derivative transactions 9,015 0 0 0 8 0 9,023
Due from Česká konsolidační agentura 24,303 0 0 0 0 0 24,303
Loans to customers, net 119,018 7,917 4,178 217 1,655 3 132,988
Securities available for sale 19,161 3 8,392 0 0 0 27,556
Investments held to maturity 97 135 0 0 16 0 248
Prepayments, accrued income
and other assets 7,340 217 175 0 3 11 7,746
Deferred tax asset 510 0 0 0 0 0 510
Investments in associates
and unconsolidated subsidiaries 876 0 0 0 0 0 876
Tangible and intangible fixed assets, net 12,678 0 0 0 58 0 12,736
Total assets 417,775 18,790 15,484 545 3,089 980 456,663
Liabilities
Amounts due to banks 15,863 343 3,344 3 505 27 20,085
Amounts due to customers 314,016 25,806 10,858 382 1,743 764 353,569
Negative fair values of financial
derivative transactions 3,458 0 0 0 16 0 3,474
Certificated debt 21,024 0 0 0 0 0 21,024
Accruals, provisions and other liabilities 14,202 335 170 5 18 12 14,742
Income taxes payable 1,435 (1) 0 0 9 0 1,443
Deferred tax liability 677 0 0 0 2 0 679
Minority interest 246 0 0 0 0 0 246
Shareholders’ equity 41,275 7 0 0 119 0 41,401
Total liabilities 412,196 26,490 14,372 390 2,412 803 456,663
Net FX position at 31 December 2003 5,579 (7,700) 1,112 155 677 177 0
Off balance sheet assets * 318,714 53,272 20,877 205 2,952 4,772 400,791
Off balance sheet liabilities * 321,785 46,244 22,040 358 2,998 4,889 398,315
Net off balance sheet FX position (3,071) 7,027 (1,163) (154) (47) (117) 2,476
Total net FX position
at 31 December 2003 2,508 (673) (51) 1 630 60 2,476
Total assets at 31 December 2002 384,766 25,499 30,524 537 3,488 1,278 446,092
Total liabilities at 31 December 2002 394,020 26,996 20,727 474 2,870 1,005 446,092
Net FX position at 31 December 2002 (9,254) (1,497) 9,797 63 618 273 0
Off balance sheet net FX position
at 31 December 2002 11,811 1,852 (9,769) 14 (300) (224) 3,384
Total net FX position at 31 December 2002 2,557 355 28 77 318 49 3,384
Note: * Off balance assets and liabilities include amounts receivable and payable arising from spot and forward transactions.