KB prezent. angl - Komerční banka
KB prezent. angl - Komerční banka
KB prezent. angl - Komerční banka
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LIABILITIES<br />
Amounts due to banks<br />
Amounts due to banks stood at CZK 19.0 billion, representing a year-on-year decrease by 15.9%.<br />
Amounts due to customers<br />
Amounts due to customers increased to CZK 349.5 billion, i.e. by 2.5% compared to the year-end 2002. Current accounts<br />
grew significantly to the total of CZK 202.3 billion and thus their share in total amounts due to customers increased from<br />
50.1% to 57.9%. On the contrary term deposits and savings accounts fell by 17.1% to CZK 107.0 billion, representing 30.6%<br />
of the total.<br />
Certificated debt<br />
The total volume of certificated debt amounted to CZK 21.3 billion, which is an increase by 16.9% due to the increase in the<br />
volume of mortgage bonds. Part of the Certificated debt in the amount of CZK 17.2 billion will mature during the year 2004.<br />
Bonds represent 53.5% and mortgage bonds 46.5% of the total certificated debts.<br />
Accruals, provisions and other liabilities<br />
The bank received an up-front payment of CZK 5.9 billion from Česká konsolidační agentura in connection with the<br />
termination of the State Guarantee. Until the final settlement the advanced payment is reported in the item Accruals and<br />
deferred income.<br />
Subordinated debt<br />
On 15 May 2003, the bank, in accordance with the term and conditions of the notes, exercised an option for the early<br />
redemption of subordinated debt issued in 1998 in a principal amount of USD 200 million, due 2008. This subordinated debt<br />
was financed by a wholly owned subsidiary of the bank, Komercni Finance, B. V., which issued subordinated bonds<br />
guaranteed by the bank. The registration of the securities was cancelled following their redemption. At the end of 2003 the<br />
bank held no subordinated debt.<br />
Shareholders’ equity<br />
The bank’s share capital remained unchanged at the level of CZK 19.0 billion in 38 million ordinary shares. The total<br />
shareholders’ equity increased by 19.7% to CZK 40.4 billion mainly due to the increase in profit in the current period. The total<br />
shareholders’ equity represent 9.0% of its total assets.
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