KB prezent. angl - Komerční banka

23. Subordinated liabilities
In 1998, Komercni Finance, B. V. (a wholly owned subsidiary of the Bank) issued guaranteed step-up callable notes, bearing fixed
interest to 15 May 2003 and then interest at a floating rate linked to six-month LIBOR. Komercni Finance, B. V. exercised its option to
redeem these notes at the repricing date in May 2003. This also triggered the repayment of the Bank’s subordinated debt and the
Bank maintained no subordinated debt as of 31 December 2003.
24. Share capital, treasury shares and share premium
The Bank’s share capital, legally registered in the Register of Companies on 11 February 2000, amounts to CZK 19,004,926 thousand
and consists of 38,009,852 ordinary shares with a nominal value of CZK 500 each (ISIN: CZ0008019106).
Set out below is a summary of the entities that hold more than 3 percent of the Bank’s issued share capital as of 31 December 2003:
Name of the entity Registered office Proportion of share capital (%)
SOCIETE GENERALE S. A. 29 BLVD HAUSSMANN, PARIS 60.353
The Bank of New York ADR Department 101 Barclay Street, New York 5.480
Société Générale S. A., being the only entity with a qualified holding in the Bank, is a French joint stock company incorporated by
a Deed approved through the issuance of a Decree on 4 May 1864, and is licensed as a bank. Under the legislative and regulatory
provisions relating to credit institutions, notably the articles of the Monetary and Financial Code, the Company is subject to
commercial laws, in particular Articles 210–1 and the following of the French Commercial Code, as well as current by-laws.
On the basis of the consent of the Czech National Bank, The Bank of New York ADR Department holds shares to which global
depository receipts (GDRs) owned by a number of foreign investors were issued.
25. Retained earnings, reserve funds and other funds created from profit
The Bank has generated a profit of CZK 9,310 million in respect of the year ended 31 December 2003. Management of the Bank has
not yet approved the allocation of the Bank’s profit for the year ended 31 December 2003. In accordance with the resolution of the
General Meeting of Shareholders held on 19 June 2003, the aggregate balance of the net profit of CZK 9,229 million made in respect
of the year ended 31 December 2002 was allocated as follows: CZK 1,520 million to dividends (CZK 40 per share before tax),
CZK 461 million to the reserve fund, CZK 88 million to the social fund and the remaining balance of the net profit of CZK 7,160 million
was allocated to retained earnings.
26. Gains or losses from revaluation
CZK million 1 January 2003 Increase Decrease 31 December 2003
Gains or losses from revaluation
– Of assets and liabilities 0 0 0 0
– Of hedging derivatives 3,475 34,410 35,961 1,924
– Of deferred taxes in respect of hedging derivatives (1,077) 1,283 802 (596)
– Of re-translation of equity holdings (54) 160 140 (34)
Total 2,344 35,853 36,903 1,294