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

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

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The <strong>Bank</strong> is the subject of several legal disputes. At 31 December <strong>2004</strong> a provision<br />

of CZK 21 million (31 December 2003: CZK 50 million) was made on the basis of the <strong>Bank</strong>’s<br />

assessment of the expected outcome of these legal disputes.<br />

Contingent liabilities include:<br />

31 December <strong>2004</strong><br />

CZK m<br />

31 December 2003<br />

CZK m<br />

Commitments 12 440 11 647<br />

Guarantees granted on behalf of:<br />

Customers 1 821 1 442<br />

Letters of credit 76 26<br />

Total value of guarantees 1 897 1 468<br />

Total commitments and guarantees 14 337 13 115<br />

Provisions for guarantees and commitments as at 31 December <strong>2004</strong> was CZK 4 million<br />

(31 December 2003: CZK 8 million) (Note 10).<br />

Contingent assets include the following balances with related parties:<br />

Loan commitments<br />

Guarantees granted<br />

31 December<br />

<strong>2004</strong><br />

31 December<br />

2003<br />

31 December<br />

<strong>2004</strong><br />

31 December<br />

2003<br />

CZK m CZK m CZK m CZK m<br />

Management 2 2 1 1<br />

Companies in UCI group 23 123 0 2<br />

25 125 1 3<br />

At 31 December <strong>2004</strong> and 2003 the <strong>Bank</strong> had no assets placed in custody or under<br />

management of a third party.<br />

43

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