Annual Report - VÃB banka

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24. Other liabilities 2007 2006 Various creditors 1,525 1,109 Payables from the acquisition of subsidiaries – CFH 501 583 Payables from the acquisition of subsidiaries – BOF (note 2) 471 - Payables for the minority interest – BOF (note 2) 420 - Payables from dividends 343 - Financial guarantees and commitments 315 275 Settlement with employees 608 574 VAT payables and other tax payables 87 88 Severance 25 50 Retention program 12 17 Accruals and deferred income 76 38 Payables from trading with securities - 26 4,383 2,760 The movements in financial guarantees and commitments, severance and retention program were as follows: 1 Jan Creation/ 31 Dec 2007 (reversal) 2007 Financial guarantees and commitments (note 33) 275 40 315 Severance (note 31) 50 (25) 25 Retention program (note 31) 17 (5) 12 342 10 352 45 25. Share capital 2007 2006 Authorized, issued and fully paid: 89 ordinary shares of Sk 100,000,000 each, not traded 8,900 8,900 4,078,108 ordinary shares of Sk 1,000 each, publicly traded 4,078 4,078 12,978 12,978 Net profi t for the year attributable to shareholders 4,067 3,747 Divided by 12,978,108 ordinary shares of Sk 1,000 each Basic and diluted earnings per share in Sk 313 289 The principal rights attached to shares are to take part in and voting at the general meeting of shareholders and to receive dividends. The Board of Directors will propose dividends to shareholders amounting to Sk 1,752 million from the profi t for the year 2007. The residual part of the profi t will remain in the retained earnings. VUB, a bank of Intesa Sanpaolo group
25. Share capital (continued) The structure of shareholders is as follows: 2007 2006 Intesa Holding International S.A. 96.49% 96.49% Domestic shareholders 2.94% 2.96% Foreign shareholders 0.57% 0.55% 100.00% 100.00% The VUB Group’s regulatory capital position at 31 December 2007 and 2006 was as follows: 2007 2006 Tier 1 capital Share capital 12,978 12,978 Share premium 403 403 Retained earnings without net profi t for the year 1,946 1,003 Legal reserve fund 2,636 2,636 Less goodwill and software (incl. acquisition) (1,790) (1,269) 16,173 15,751 Tier 2 capital - - Regulatory adjustment Investment in associates and jointly controlled entities (146) (139) 46 Total regulatory capital 16,027 15,612 Regulatory capital includes items forming the value of basic own funds (ordinary share capital, share premium, retained earnings, legal reserve fund) and items decreasing the value of basic own funds (intangible assets, goodwill and investments with signifi cant infl uence). The Group must maintain a capital adequacy ratio of at least 8% according to NBS regulations. The capital adequacy is the ratio between the Group’s capital and the risk-weighted assets. Risk-weighted assets include risk weighted assets from positions recorded in the trading book and risk weighted assets from positions recorded in the banking book. The Group complied with the NBS requirement for the capital adequacy ratio as at 31 December 2007 and 2006. 26. Financial commitments and contingencies 2007 2006 Issued guarantees 11,417 9,732 Commitments and undrawn credit facilities 65,828 34,584 77,245 44,316 <strong>Annual</strong> <strong>Report</strong> 2007
Page 2 and 3: Contents Address by the Chairman of
Page 4 and 5: a socially useful construction, fur
Page 6 and 7: y 16%, assets under management of o
Page 8 and 9: Development of the External Environ
Page 10 and 11: VUB’s 2007 Commercial Performance
Page 12 and 13: Basic Indicators Basic Indicators i
Page 14 and 15: Consolidated balance sheet at 31 De
Page 16 and 17: Consolidated statement of changes i
Page 18 and 19: Notes to the consolidated financial
Page 20 and 21: The assets and liabilities arising
Page 22 and 23: the fair value of the assets given,
Page 24 and 25: The fair value of securities held f
Page 26 and 27: Embedded derivatives The VUB Group
Page 28 and 29: 3.16 Intangible assets Intangible a
Page 30 and 31: 3.22 Legal reserve fund In accordan
Page 32 and 33: 3.30 Future changes in accounting p
Page 34 and 35: 7. Financial assets held for tradin
Page 36 and 37: 10. Loans and advances to customers
Page 38 and 39: Maturities of gross fi nance lease
Page 40 and 41: 13. Investments in associates and j
Page 42 and 43: The goodwill is reviewed for impair
Page 44 and 45: 17. Current income tax assets 2007
Page 48 and 49: (a) Issued guarantees Commitments f
Page 50 and 51: 31. Salaries and employee benefits
Page 52 and 53: 35. Profit before changes in operat
Page 54 and 55: 37. Financial risk management Intro
Page 56 and 57: 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 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 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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