as at December 31, 2003 - EFG Bank Group

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50 Notes to the Consolidated Financial Statements (continued) 42. Interest rate risk Group entities take on exposure to the effects of fluctuations in the prevailing levels of market interest rates on their financial positions and cash flows. Interest margins may increase as a result of such changes but may reduce or create losses in the event that unexpected movements arise. Under the supervision of the Group Board of Directors, the local Boards of Directors set limits on the level of mismatch of interest rate repricing that may be undertaken, which is monitored on a daily basis. The table below summarises the Group’s exposure to interest rate risks. Included in the table are the Group’s assets and liabilities at carrying amounts, categorised by the earlier of contractual repricing or maturity dates. Dec. 31, 2003 Up to 3 3 - 12 1 - 5 Over 5 Noninterest (All figures in thousands of CHF) months months years years bearing Total Assets Cash and balances with central banks 1’878’177 - - - 473 1’878’650 Treasury bills and other eligible bills 138’759 463’631 - - - 602’390 Due from other banks 3’386’946 69’117 35’679 - 18’667 3’510’409 Trading securities 2’739’566 352’520 1’134’556 329’010 218’352 4’774’004 Derivative financial instruments - - - - 429’545 429’545 Loans and advances to customers 21’627’399 3’326’162 2’860’666 414’357 - 28’228’584 Available-for-sale investment securities 2’111’858 157’213 2’145’371 3’638’009 415’465 8’467’916 Other investment securities - - - - - - Investments in associated undertakings - - - - 20’179 20’179 Property, plant and equipment - - - - 1’164’003 1’164’003 Intangible assets - - - - 318’716 318’716 Other assets - - - - 1’607’190 1’607’190 Total assets 31’882’705 4’368’643 6’176’272 4’381’376 4’192’590 51’001’586 Liabilities Due to other banks 8’315’583 392’568 746’393 26’674 1’190 9’482’408 Derivative financial instruments - - - - 807’589 807’589 Due to customers 30’480’327 310’360 285’889 26 84’068 31’160’670 Liabilities evidenced by paper 3’763’642 153’908 560’832 - - 4’478’382 Other liabilities - - - - 1’339’446 1’339’446 Total liabilities 42’559’552 856’836 1’593’114 26’700 2’232’293 47’268’495 On balance sheet interest sensitivity gap (10’676’847) 3’511’807 4’583’158 4’354’676 1’960’297 3’733’091 Off balance sheet interest sensitivity gap 4’488’900 49’879 (982’884) (4’144’587) (359’082) - EFG Bank Group
Notes to the Consolidated Financial Statements (continued) 42. Interest rate risk (continued) Dec. 31, 2002 Up to 3 3 - 12 1 - 5 Over 5 Noninterest (All figures in thousands of CHF) months months years years bearing Total Assets Cash and balances with central banks 1’531’437 - - - 1’325 1’532’762 Treasury bills and other eligible bills 379’620 661’649 - - - 1’041’269 Due from other banks 3’233’223 124’885 20’493 - 12’728 3’391’329 Trading securities 1’300’597 753’803 1’587’517 1’074’510 22’782 4’739’209 Derivative financial instruments - - - - 311’911 311’911 Loans and advances to customers 16’534’037 2’254’583 2’162’882 420’179 - 21’371’681 Available-for-sale investment securities 750’004 1’189’333 826’570 2’616’335 259’823 5’642’065 Other investment securities 1’405 4’199 180’215 - - 185’819 Investments in associated undertakings - - - - 140’693 140’693 Property, plant and equipment - - - - 1’142’006 1’142’006 Intangible assets - - - - 252’977 252’977 Other assets - - - - 1’416’011 1’416’011 Total assets 23’730’323 4’988’452 4’777’677 4’111’024 3’560’256 41’167’732 Liabilities Due to other banks 6’094’178 485’720 40’959 27’314 298 6’648’469 Derivative financial instruments - - - - 883’228 883’228 Due to customers 26’735’612 672’615 307’610 - 54’845 27’770’682 Liabilities evidenced by paper 944’156 522’864 101’488 - - 1’568’508 Other liabilities - - - - 1’059’895 1’059’895 Total liabilities 33’773’946 1’681’199 450’057 27’314 1’998’266 37’930’782 On balance sheet interest sensitivity gap (10’043’623) 3’307’253 4’327’620 4’083’710 1’561’990 3’236’950 Off balance sheet interest sensitivity gap (703’722) 1’755’141 (1’297’802) (2’386’150) - - The table below summarises the effective average interest rate for monetary financial instruments: Annual Report 2003 Dec. 31, 2003 Dec. 31, 2002 % % Assets Due from other banks 2.4 3.3 Trading securities 2.9 4.1 Loans and advances to customers 6.6 6.9 Available-for-sale investment securities 3.1 4.5 Other investments securities 7.1 6.9 Liabilities Due to other banks 2.4 3.3 Due to customers 1.5 2.1 Liabilities evidenced by paper 2.6 3.8 Group 51
Page 1: Annual Report 2003
Page 4 and 5: Contents 3 Consolidated financial h
Page 6 and 7: 4 Report of the Board of Directors
Page 8 and 9: 6 Report of the Board of Directors
Page 10 and 11: 8 EFG Bank Group’s Activities The
Page 12 and 13: 10 EFG Bank Group’s Activities (c
Page 14 and 15: 12 Consolidated Statement of Income
Page 16 and 17: 14 Consolidated Statement of Change
Page 18 and 19: 16 Notes to the Consolidated Financ
Page 60 and 61: 58 Principal Offices (continued) Pr
Page 62 and 63: 60 Principal Offices (continued) Pr
Page 64 and 65: Contents 64 Review of Parent Bank a
Page 66 and 67: 64 Review of Parent Bank Activities
Page 68 and 69: 66 Statement of Income for the year
Page 70 and 71: 68 Off Balance Sheet Positions at D
Page 72 and 73: 70 Notes to the Financial Statement
Page 78: 76 Board of Directors and Advisory

as at December 31, 2003 - EFG Bank Group

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