Annual Report - VÃB banka

More documents

Recommendations

Info

(a) Issued guarantees Commitments from guarantees represent irrevocable assurances that the VUB Group will make payments in the event that a borrower cannot meet its obligations to third parties. These assurances carry the same credit risk as loans and therefore the VUB Group makes provisions against these instruments on a similar basis as is applicable to loans. (b) Commitments and undrawn credit facilities The primary purpose of commitments to extend credit is to ensure that funds are available to the customer as required. Commitments to extend credit issued by the VUB Group represent issued loan commitments, undrawn portions of and approved overdraft loans. (c) Lease obligations In the normal course of business, the VUB Group enters into operating lease agreements for branch facilities and cars. At 31 December 2007 and 2006, the total value of future payments arising from noncancellable operating leasing contracts was as follows: 2007 2006 Up to 1 year 53 60 1 to 5 years 87 132 Over 5 years - - 140 192 (d) Legal In the ordinary course of business the VUB Group is subject to a variety of legal actions. The VUB Group conducted a review of legal proceedings outstanding against it as of 31 December 2007. Pursuant to this review, management has recorded a provision of Sk 973 million as of 31 December 2007 (2006: Sk 990 million) in respect of such legal proceedings (see also note 23). The VUB Group will continue to defend its position in respect of each of these legal proceedings. 27. Net interest income 47 2007 2006 Interest and similar income Loans and advances to banks 1,502 1,747 Loans and advances to customers 8,924 7,223 Bonds, treasury bills and other securities: Financial assets held for trading 383 38 Available-for-sale fi nancial assets 128 68 Held-to-maturity investments 3,851 3,252 14,788 12,328 Interest expense and similar charges Deposits from banks (734) (526) Deposits from customers (4,350) (3,503) Debt securities in issue (1,195) (762) (6,279) (4,791) 8,509 7,537 Interest income on individually impaired loans and advances to customers for 2007 amounted to Sk 156 million (2006: Sk 119 million). VUB, a bank of Intesa Sanpaolo group
28. Net fee and commission income 2007 2006 Fee and commission income Received from banks 193 204 Received from customers 3,048 2,849 Received from other fi nancial operations 277 285 3,518 3,338 Fee and commission expense Paid to banks (254) (228) Paid to customers (430) (421) Paid due to other fi nancial operations (34) (29) (718) (678) 2,800 2,660 29. Net trading income 48 2007 2006 Foreign currency derivatives and transactions 1,051 1,023 Interest rate derivatives 13 37 Securities: Available-for-sale fi nancial assets 195 82 Financial assets held for trading 5 (5) 1,264 1,137 30. Other operating income 2007 2006 Rent 52 51 Sales of consumer goods 137 134 Other services 56 78 Net profi t from sale of fi xed assets 3 43 Other 74 60 322 366 <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 46 and 47: 24. Other liabilities 2007 2006 Var
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
show all

Annual Report - VÃB banka

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?

Annual Report - VÃB banka