Annual Report - VÃB banka

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37. Related parties Related parties are those counterparties that represent: (a) enterprises that directly, or indirectly, through one or more intermediaries, control, or are controlled by, or are under the common control of, the reporting enterprise; (b) associates - enterprises in which the parent company has signifi cant infl uence and which are neither a subsidiary nor a joint venture; (c) individuals owning, directly or indirectly, an interest in the voting power of the Bank that gives them signifi cant infl uence over the Bank, and anyone expected to infl uence, or be infl uenced by, that person in their dealings with the Bank; (d) key management personnel, that is, those persons having authority and responsibility for planning, directing and controlling the activities of the Bank, including directors and officers of the Bank and close members of the families of such individuals; and (e) enterprises in which a substantial interest in the voting power is owned, directly or indirectly, by any person described in (c) or (d) or over which such a person is able to exercise signifi cant infl uence. This includes enterprises owned by directors or major shareholders of the Bank and enterprises that have a member of key management in common with the Bank. In considering each possible related party relationship, attention is directed to the substance of the relationship, and not merely the legal form. The majority of the stated transactions have been made under arms-length commercial and banking conditions. At 31 December 2007 and 2006, signifi cant outstanding balances with related parties comprised: 2007 2006 Loans and advances Key management personnel 6 6 Affi liated companies 1,895 3,243 Shareholder and companies controlled by shareholder 1,711 7,167 3,612 10,416 Customer accounts Key management personnel 38 26 Affi liated companies 4,430 2,963 Shareholder and companies controlled by shareholder 4,303 3,326 8,771 6,315 Derivative transactions (notional amount) Affi liated companies 2,248 825 Shareholder and companies controlled by shareholder 12,017 2,746 14,265 3,571 Securities Shareholder and companies controlled by shareholder 2,654 2,599 113 38. Profit distribution On 4 April 2007, the Bank’s shareholders approved the following profi t distribution for 2006: Dividends to shareholders (Sk 217 per share) 2,816 Retained earnings 942 3,758 The Board of Directors will propose the following 2007 profi t distribution: Dividends to shareholders (Sk 135 per share) 1,752 Retained earnings 1,748 3,500 39. Events after the balance sheet date There were no signifi cant events after the balance sheet date that would require adjustment or disclosure in the fi nancial statements at 31 December 2007. VUB, a bank of Intesa Sanpaolo group
Information on Securities Issued by the Bank In 2007 VÚB, a. s., issued 7 mortgage bond issues as follows: Mortgage bonds VÚB, a. s., XXVII. Name of Security: Mortgage bond VÚB, a. s., XXVII. ISIN: SK4120005349 series 01 Type and form: Bearer bond, book-entry Total issue amount: SKK 500,000,000 Number and nominal value: 500 pcs per SKK 1,000,000 Issue Date: March 13, 2007 Maturity: March 13, 2010 Coupon: 4.25 % p. a. Coupon payment: Annually Mortgage bonds VÚB, a. s., XXVIII. Name of Security: Mortgage bond VÚB, a. s., XXVIII. ISIN: SK4120005448 series 01 Type and form: Bearer bond, book-entry Total issue amount: CZK 1,000,000,000 Number and nominal value: 1,000 pcs per CZK 1,000,000 Issue Date: June 20, 2007 Maturity: June 20, 2012 Coupon: 6M PRIBOR + 0.50 % p. a. Coupon payment: Semiannually Mortgage bonds VÚB, a. s., XXIX. Name of Security: Mortgage bond VÚB, a. s., XXIX. ISIN: SK4120005539 series 01 Type and form: Bearer bond, book-entry Total issue amount: SKK 500,000,000 Number and nominal value: 500 pcs per SKK 1,000,000 Issue Date: October 16, 2007 Maturity: October 16, 2012 Coupon: 6M BRIBOR + 0.02 % p. a. Coupon payment: Semiannually 114 Mortgage bonds VÚB, a. s., XXX. Name of Security: Mortgage bond VÚB, a. s., XXX. ISIN: SK4120005547 series 01 Type and form: Bearer bond, book-entry Total issue amount: SKK 1,000,000,000 Number and nominal value: 1,000 pcs per SKK 1,000,000 Issue Date: September 5, 2007 Maturity: September 5, 2032 Coupon: 5.00 % p. a. Coupon payment: Annually Mortgage bonds VÚB, a. s., 31 Name of Security: Mortgage bond VÚB, a. s., 31 ISIN: SK4120005679 series 01 Type and form: Bearer bond, book-entry Total issue amount: SKK 600,000,000 Number and nominal value: 600 pcs per SKK 1,000,000 Issue Date: November 29, 2007 Maturity: November 29, 2037 Coupon: 4.9 % p. a. Coupon payment: Annually Mortgage bonds VÚB, a. s., 32 Name of Security: Mortgage bond VÚB, a. s., 32 ISIN: SK4120005711 series 01 Type and form: Bearer bond, book-entry Total issue amount: CZK 800,000,000 Number and nominal value: 800 pcs per CZK 1,000,000 Issue Date: December 17, 2007 Maturity: December 17, 2017 Coupon: 6M PRIBOR + 1.5 % p. a. Coupon payment: Semiannually Mortgage bonds VÚB, a. s., 33 Name of Security: Mortgage bond VÚB, a. s., 33 ISIN: SK4120005760 series 01 Type and form: Bearer bond, book-entry Total issue amount: SKK 550,000,000 Number and nominal value: 550 pcs per SKK 1,000,000 Issue Date: December 20, 2007 Maturity: December 20, 2008 Coupon: 6M BRIBOR % p. a. Coupon payment: Semiannually Annual Report 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
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(b) Market risk Market risk is the
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The re-pricing structure of assets
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(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 108 and 109: The re-pricing structure of assets
Page 110 and 111: (c) Liquidity risk Liquidity risk i
Page 112 and 113: The Intesa Sanpaolo Bank’s intern
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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