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Movements in provisions for restructuring costs and contingent liabilities as well as other provisions
€ m Provisions for Provisions for Other
restructuring costs contingent liabilities provisions
As at 1 January 2005 – 132 260
Changes in group of consolidated companies 6 1 –1
Changes resulting from currency translation – 2 1
Allocations to provisions 109 69 84
Use – 2 –12 – 69
Release –1 – 38 – 44
As at 31 December 2005 112 153 230
The Managing Board of Bank Austria Creditanstalt AG has decided to restructure the
SMEs Austria business segment which was newly defined with effect from 2005, and has
communicated the restructuring plan to the Employees’ Council. A provision of € 90 m
was made for restructuring costs relating to measures to be taken in this connection. The
amount is expected to be used in the years 2006 and 2007. Provisions for restructuring
costs were also made at various subsidiaries involving smaller amounts.
Movements in provisions for retirement benefits and similar obligations
€ m 2005 2004
Provision as at 1 January 2,943 2,854
+/– changes in group of consolidated companies – 3 –
+/– actuarial gains/losses with no effect on income 734 15
+ interest cost 154 151
+ current service cost 70 52
+ past service cost/early retirement – 41
– payments in the reporting year – 224 –174
+/– result from plan changes – 23 –
+/– other changes 4 4
PROVISION AS AT 31 DECEMBER 3,654 2,943
Deferred tax liabilities
€ m
Relating to:
2005 2004
loan loss provisions for loans and advances to banks and customers 45 29
trading assets 103 125
property and equipment 24 25
investments 331 311
other assets 20 118
amounts owed to banks and customers 2 1
liabilities evidenced by certificates 3 4
provisions 4 –
other balance sheet items 10 1
DEFERRED TAX LIABILITIES 541 614
Notes to the balance sheet 139