Annual Report - VÚB banka

39. 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 Group that gives
them signifi cant infl uence over the Group, and
anyone expected to infl uence, or be infl uenced
by, that person in their dealings with the Group;
(d) key management personnel, that is, those persons
having authority and responsibility for
planning, directing and controlling the activities
of the Group, including directors and offi cers 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 Group and
enterprises that have a member of key management
in common with the Group.
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 related party 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
Shareholder companies controlled by shareholder 1,746 7,167
1,752 7,173
Customer accounts
Key management personnel 38 26
Affi liated companies 21 12
Shareholder and companies controlled by share holder 4,517 3,326
4,576 3,364
Derivative transactions (notional amount)
Shareholder and companies controlled by shareholder 12,749 3,571
65
Securities
Shareholder and companies controlled by shareholder 2,654 2,599
Other liabilities (liabilities from the acquisition of subsidiaries)
Key mangement personnel 501 583
40. 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