Annual Report - VÃB banka

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The re-pricing structure of assets and liabilities for the non-trading portfolios was as follows: Up to 1 to 3 3 months 1 to 5 Over 31 December 2007 1 month months to 1 year years 5 years Total Assets Cash and balances with central banks 2,722 - 180 720 900 4,522 Loans and advances to banks 967 559 265 157 - 1,948 Derivative fi nancial instruments - - 2,832 - - 2,832 Available-for-sale fi nancial assets 103 9 904 1,949 10 2,975 Loans and advances to customers 24,420 34,553 41,239 21,775 5,262 127,249 Held-to-maturity investments 19,413 7,339 23,925 25,363 26,170 102,210 Subsidiaries, associates and jointly controlled entities - - 343 1,372 1,715 3,430 47,625 42,460 69,688 51,336 34,057 245,166 Liabilities Deposits from central and other banks (8,315) (514) (130) - - (8,959) Derivative fi nancial instruments - - (2,276) (592) - (2,868) Deposits from customers (120,225) (15,771) (20,321) (16,840) (19,023) (192,180) Debt securities in issue (2,032) (9,570) (6,297) (6,467) (6,114) (30,480) (130,572) (25,855) (29,024) (23,899) (25,137) (234,487) Net position of fi nancial instruments (82,947) 16,605 40,664 27,437 8,920 10,679 Up to 1 to 3 3 months 1 to 5 Over 31 December 2006 1 month months to 1 year years 5 years Total Assets Cash and balances with central banks 3,026 - 190 759 949 4,924 Loans and advances to banks 1,822 542 148 402 - 2,914 Available-for-sale fi nancial assets 29 9 33 2,900 35 3,006 Loans and advances to customers 29,228 20,352 25,018 16,913 3,719 95,230 Held-to-maturity investments 10,012 1,071 38,435 22,374 26,437 98,329 Subsidiaries, associates and jointly controlled entities - - 248 994 1,242 2,484 44,117 21,974 64,072 44,342 32,382 206,887 Liabilities Deposits from central and other banks (6,041) (191) (1) (88) - (6,321) Deposits from customers (108,023) (13,549) (15,349) (14,576) (15,628) (167,125) Debt securities in issue (3,119) (6,637) (2,943) (6,910) (4,767) (24,376) (117,183) (20,377) (18,293) (21,574) (20,395) (197,822) Net position of fi nancial instruments (73,066) 1,597 45,779 22,768 11,987 9,065 107 The average interest rates for fi nancial assets and liabilities were as follows: Assets 2007 2006 % % Cash and balances with central banks 1.51 1.35 Loans and advances to banks 3.93 3.64 Financial assets held for trading 4.14 4.40 Available-for-sale fi nancial assets 3.84 3.57 Loans and advances to customers 7.31 7.70 Held-to-maturity investments 4.37 3.85 Liabilities Deposit from banks 3.61 2.36 Deposits from customers 2.36 2.00 Debt securities in issue 4.40 4.34 VUB, a bank of Intesa Sanpaolo group
108 35. Financial risk management (continued) Currency denominations of assets and liabilities Foreign exchange rate risk comprises the risk that the value of fi nancial assets and liabilities will fl uctuate due to changes in market foreign exchange rates. The table below provides information on the currency denomination of the Bank‘s assets and liabilities. It is the policy of the Bank to manage its exposure to fl uctuations in exchange rates through the regular monitoring and reporting of open positions and the application of a matrix of exposure and position limits. Slovak crowns EUR USD CZK Other Total 31 December 2007 Assets Cash and balances with central banks 3,576 374 55 278 210 4,493 Loans and advances to banks 31,968 2,904 51 8 159 35,090 Financial assets held for trading 10,647 17 - - - 10,664 Derivative fi nancial instruments 1,055 - - - - 1,055 Available-for-sale fi nancial assets 2,671 2 - - - 2,673 Non-current assets held for sale 348 - - - - 348 Loans and advances to customers 88,754 26,726 1,190 3,139 122 119,931 Held-to-maturity investments 89,213 1,460 - - 48 90,721 Subsidiaries, associates and JVs 3,430 - - - - 3,430 Intangible assets 970 - - - - 970 Property and equipment 5,465 - - 3 - 5,468 Other assets 287 7 - 3 - 297 238,384 31,490 1,296 3,431 539 275,140 Liabilities Deposits from central and other banks (5,745) (8,351) (1,261) (522) (266) (16,145) Derivative fi nancial instruments (1,034) - - - - (1,034) Deposits from customers (171,319) (25,579) (4,240) (2,911) (1,088) (205,137) Debt securities in issue (19,227) (5,062) - (2,438) - (26,727) Current and deferred income tax liabilities (1,029) - - (18) - (1,047) Provisions (968) - - - - (968) Other liabilities (2,163) (8) - (9) (2) (2,182) (201,485) (39,000) (5,501) (5,898) (1,356) (253,240) On balance sheet net position 36,899 (7,510) (4,205) (2,467) (817) 21,900 Off balance sheet assets 10,612 16,050 13,468 6,729 1,292 48,151 Off balance sheet liabilities (26,071) (8,125) (9,169) (672) (359) (44,396) Off balance sheet net position (15,459) 7,925 4,299 6,057 933 3,755 Total net position 21,440 415 94 3,590 116 25,655 31 December 2006 On balance sheet net position 21,153 662 (486) 162 (280) 21,211 Off balance sheet net position (588) 121 508 3,295 346 3,682 Total net position 20,565 783 22 3,457 66 24,893 <strong>Annual</strong> <strong>Report</strong> 2007
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Contents Address by the Chairman of
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a socially useful construction, fur
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y 16%, assets under management of o
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Development of the External Environ
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VUB’s 2007 Commercial Performance
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Basic Indicators Basic Indicators i
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Consolidated balance sheet at 31 De
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Consolidated statement of changes i
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Notes to the consolidated financial
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The assets and liabilities arising
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the fair value of the assets given,
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The fair value of securities held f
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Embedded derivatives The VUB Group
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3.16 Intangible assets Intangible a
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3.22 Legal reserve fund In accordan
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3.30 Future changes in accounting p
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7. Financial assets held for tradin
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10. Loans and advances to customers
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Maturities of gross fi nance lease
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13. Investments in associates and j
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The goodwill is reviewed for impair
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17. Current income tax assets 2007
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24. Other liabilities 2007 2006 Var
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(a) Issued guarantees Commitments f
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31. Salaries and employee benefits
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35. Profit before changes in operat
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37. Financial risk management Intro
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The following table describes the G
Page 58 and 59: (b) Market risk Market risk is the
Page 60 and 61: The re-pricing structure of assets
Page 62 and 63: (c) Liquidity risk Liquidity risk i
Page 64 and 65: The Intesa Sanpaolo Group’s inter
Page 66 and 67: 39. Related parties Related parties
Page 68 and 69: Balance sheet at 31 December 2007 (
Page 70 and 71: Statement of changes in equity for
Page 72 and 73: Notes to the separate financial sta
Page 74 and 75: 2.5 Foreign operations The fi nanci
Page 76 and 77: 2.10 Repurchase and reverse repurch
Page 78 and 79: 2.12 Offsetting financial instrumen
Page 80 and 81: 2.18 Leasing The determination of w
Page 82 and 83: 2.28 Significant accounting judgeme
Page 84 and 85: 3. Cash and cash equivalents For th
Page 86 and 87: 2007 2006 2007 2006 Assets Assets L
Page 88 and 89: During 2007, the Bank wrote off loa
Page 90 and 91: 12. Subsidiaries, associates and jo
Page 92 and 93: 15. Current income tax assets 2007
Page 94 and 95: 22. Other liabilities 2007 2006 Var
Page 96 and 97: (a) Issued guarantees Commitments f
Page 98 and 99: 30. Other operating expenses 2007 2
Page 100 and 101: 34. Estimated fair value of certain
Page 102 and 103: 35. Financial risk management Intro
Page 104 and 105: The following table describes the B
Page 106 and 107: (b) Market risk Market risk is the
Page 110 and 111: (c) Liquidity risk Liquidity risk i
Page 112 and 113: The Intesa Sanpaolo Bank’s intern
Page 114 and 115: 37. Related parties Related parties
Page 116 and 117: Review of the Economic and Financia
Page 118 and 119: List of VUB Branches Retail Busines
Page 120 and 121: Postal Code Address Tel. No. Fax Re
Page 122 and 123: Postal Code Address Tel. No. Fax Re
Page 124 and 125: Corporate Branches Firemné obchodn
Page 126 and 127: Structure of VUB Shareholders as at
Page 128 and 129: VUB, a bank of Intesa Sanpaolo grou
Page 130 and 131: Vladimíra Josefiová - Member of M
Page 132 and 133: ticipate in all meetings of the Man
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