Annual report 2004 (PDF, 4141 kB) - Unicredit Bank

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Loans and advances to customers Loans and advances are net of specific and portfolio provisions for impairment. The estimated fair value of loans and advances represents the discounted amount of estimated future cash flows expected to be received. Expected cash flows are discounted at current market rates to determine fair value. A substantial majority of the loans and advances to customers reprice within relatively short time spans; therefore, it is assumed that their carrying values approximate their fair value. Due to other banks The carrying values of current account balances are, equal to their fair values. For other amounts due to banks with equal or less then one year remaining maturity, it is assumed their carrying values approximate their fair values. Due to customers The fair values of current accounts as well as term deposits with equal to or less then one year remaining maturity approximate their carrying values. The fair values of other term deposits are estimated by discounting their future cash flows using rates currently offered for deposits of similar remaining maturity. A substantial majority of the term deposits reprice within relatively short time spans; therefore, it is assumed that their carrying values approximate their fair value. Debt securities in issue The fair values of issued bonds are estimated by discounting their future cash flows using rates currently offered for bond similar remaining maturities. The carrying values of promissory notes approximate their fair value as all matured within three months. (i) Fiduciary activities The Group provides custody, trustee, corporate administration, investment management and advisory services to third parties which involve the Group making allocation and purchase and sale decisions in relation to a wide range of financial instruments. Those assets that are held in a fiduciary capacity are not included in these financial statements. Some of these arrangements involve the Group accepting targets for benchmark levels of returns for the assets under the Group’s care. These services give rise to the risk that the Group will be accused of mal-administration or under-performance. The amount of assets under management and under custody at 31 December 2004 is CZK 41 305 million (31 December 2003: CZK 10 461 million). At the balance sheet date the Group had investment custody and fund depository accounts amounting to approximately CZK 39 777 million (31 December 2003: CZK 24 983 million). 110
34 RELATED PARTY TRANSACTIONS Parties are considered to be related to the Group, if one party has the ability to control the other party or exercise significant influence over the other party in making financial or operational decisions or a party and Group are under common control. A number of other banking transactions are entered into with related parties in the normal course of business. These include loans, deposits, foreign currency transactions and guarantees granted. These transactions were carried out on commercial terms and conditions and at market rates. The volumes of other related party transactions, outstanding balances as at the balance sheet date, and relating expense and income for the year 2004 and 2003 are as follows: Parent company Subsidiaries and associated companies Board members and other directors 2004 2003 2004 2003 2004 2003 Assets and income CZK m CZK m CZK m CZK m CZK m CZK m Loans at 31 December 0 0 217 232 36 23 Term deposits at 31 December 0 0 0 88 0 0 Current accounts at 31 December 2 3 1 0 0 0 Interest income 6 9 16 22 1 1 Fee income 0 0 1 0 0 0 Trading income 0 0 51 0 0 0 Other income 0 5 1 0 0 0 Liabilities and expense Term deposits at 31 December 0 0 672 0 10 16 Current accounts at 31 December 13 4 102 128 33 18 Subordinated debt 31 December 1 000 1 000 0 0 0 0 Interest expense 30 31 7 8 1 1 Trading expense 0 0 0 0 0 0 Other expense 5 0 0 0 0 0 Guarantees issued at 31 December 0 0 0 0 1 1 111
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Annual Report of Živnostenská ban
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Composition of the Supervisory Boar
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Introduction by the Chairman of the
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Directors’ Report Dear Clients an
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During 2004, the Bank opened 14 new
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provided support to a number of pro
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Liabilities: Note 31 December 2004
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Income Statement for the Year Ended
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Schedule to the Financial Statement
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• on sale or transfer of any secu
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(o) Receivables Receivables are sta
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The Bank creates social fund. The s
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In 2004 and 2003, the Bank did not
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for comparable transactions with ot
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Securities available-for-sale at 31
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(c) Movements in investments in sub
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Tangible fixed assets 31 December 2
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10 ALLOWANCES, PROVISIONS AND WRITE
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11 DUE TO BANKS 31 December 2004 CZ
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13 LIABILITIES FROM DEBT SECURITIES
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If the balance of the statutory res
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31 December 2004 31.December 2003 C
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20 COMMISSION AND FEE INCOME AND EX
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23 ADMINISTRATIVE EXPENSES 31 Decem
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24 TAXATION 31 December 2004 CZK m
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26 FINANCIAL RISKS (a) Strategy in
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on a daily basis (so-called “back
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As at 31 December 2004 Assets CZK E
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The VaR amount for interest rate ri
Page 60 and 61: (g) Liquidity risk The Bank is expo
Page 62 and 63: At 31 December 2003 Assets Within 3
Page 65 and 66: Consolidated Financial Statement au
Page 67 and 68: Consolidated Income Statements of C
Page 69 and 70: Schedule to the Consolidated Financ
Page 71 and 72: (c) Foreign currencies The consolid
Page 73 and 74: (h) Sale and repurchase agreements
Page 75 and 76: Property, plant and equipment and i
Page 77 and 78: 3 NET FEE AND COMMISSION INCOME 31
Page 79 and 80: 7 OPERATING EXPENSES Operating expe
Page 81 and 82: The tax on the operating profit dif
Page 83 and 84: 13 STATE TREASURY AND OTHER BILLS E
Page 85 and 86: 31 December 2004 31 December 2003 N
Page 87 and 88: 18 SECURITIES AVAILABLE-FOR-SALE 31
Page 89 and 90: Property, plant and equipment Dispo
Page 91 and 92: y 29 December 2014, with no repayme
Page 93 and 94: The following table indicates the c
Page 95 and 96: (b) Capital adequacy To monitor the
Page 97 and 98: Geographical concentrations of asse
Page 99 and 100: market movements. The Board of Dire
Page 101 and 102: CZK USD GBP EUR Other Total As at 3
Page 103 and 104: As at 31 December 2004 Up to 1-3 3-
Page 105 and 106: The table below summarises the effe
Page 107 and 108: Maturities of assets and liabilitie
Page 109: to be completely matched since busi
Page 113 and 114: Non-Audited Supplemental Informatio
Page 115 and 116: NON-AUDITED RECONCILIATION OF THE I
Page 117 and 118: Report on Relations between the Con
Page 119 and 120: 1.4. In addition to the above menti
Page 121 and 122: Supplementary Data in Conformity wi
Page 123 and 124: 1.3. The Board of Directors as at 3
Page 125 and 126: - supplementary investment services
Page 127 and 128: was launched aimed to introduce the
Page 129 and 130: Other Top Managers of Živnostensk
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Annual report 2004 (PDF, 4141 kB) - Unicredit Bank

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