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as the identification of intangible assets, this results in a difference of € 178.7 m between
the purchase price and the net assets of Banca Comerciala “Ion Tiriac” S.A.; the differential
amount was allocated to goodwill for the time being. The price of the transaction
reflects the intrinsic value of Banca Tiriac, the synergies that can be achieved and, above
all, the potential of the Romanian market.
Eksimbanka, Belgrade, Serbia and Montenegro, was merged with HVB Bank Serbia and
Montenegro on 1 October 2005 and included in the group of consolidated companies as
at the same date. Since then the new bank has operated under the name of “HVB Banka
Srbija i Crna Gora A.D.”. The difference of € 24.9 m between acquisition cost and net
assets of the merged bank was allocated to goodwill for the time being.
At the end of December 2005, Hypo Stavebni Sporitelna, Prague, the mortgage bank of
HVB Czech Republic, was included in the group of consolidated companies.
Effects of changes in the group of consolidated companies
Assets Consolidated Disposal of Additions of
balance sheet consolidated consolidated
€ m at 31 Dec. 2004 subsidiaries subsidiaries
Cash and balances with central banks 2,724 – 294
Trading assets 18,575 – 24
Loans and advances to, and placements with, banks 23,995 – 6 128
Loans and advances to customers 81,260 – 429 1,078
– Loan loss provisions – 3,305 2 – 29
Investments 17,316 – 46 727
Property and equipment 1,122 –111 65
Intangible assets 1,133 – 13
Other assets 3,761 – 25 67
TOTAL ASSETS 146,581 – 615 2,366
Liabilities and shareholders’ equity Consolidated Disposal of Additions of
balance sheet consolidated consolidated
€ m at 31 Dec. 2004 subsidiaries subsidiaries
Amounts owed to banks 39,927 – 459 253
Amounts owed to customers 57,856 –1 1,702
Liabilities evidenced by certificates 19,617 – 108
Trading liabilities 8,930 – –
Provisions 4,000 – 9 14
Other liabilities 4,063 –18 47
Subordinated capital 5,291 – 10
Shareholders’ equity 6,898 –128 206
of which: minority interests 439 – 26
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 146,581 – 615 2,366
126 Business combinations and disposals