Annual Report - VÃB banka

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12. Subsidiaries, associates and jointly controlled entities Share Cost Impairment Carrying in % losses amount At 31 December 2007 VÚB Factoring, a.s. 100.0 498 (246) 252 VÚB Leasingová, a.s. 100.0 234 (224) 10 Recovery, a.s. 100.0 110 (95) 15 VÚB Asset Management, správ. spol. a.s. 100.0 85 - 85 Consumer Finance Holding, a.s. 100.0 1,600 - 1,600 B.O.F., a.s. 70.0 968 968 Slovak Banking Credit Bureau, s.r.o. 33.3 - - - VÚB Generali DSS, a.s. 50.0 500 - 500 3,995 (565) 3,430 At 31 December 2006 VÚB Factoring, a.s. 100.0 498 (246) 252 VÚB Leasingová, a.s. 100.0 234 (211) 23 Recovery, a.s. 100.0 110 (85) 25 VÚB Asset Management, správ. spol. a.s. 100.0 85 - 85 Consumer Finance Holding, a.s. 100.0 1,600 - 1,600 Slovak Banking Credit Bureau, s.r.o. 33.3 - - - VÚB Generali DSS, a.s. 50.0 500 - 500 3,027 (542) 2,485 The net investment in the Slovak Banking Credit Bureau is Sk 100 thousand. 13. Intangible assets Software Other Assets in Total intangible assets progress Cost At 1 January 2007 3,734 270 167 4,171 Additions - - 418 418 Disposals (4) - - (4) Transfers 364 92 (456) - At 31 December 2007 4,094 362 129 4,585 Amortization At 1 January 2007 (3,078) (206) - (3,284) Additions (295) (36) - (331) Disposals - - - - At 31 December 2007 (3,373) (242) - (3,615) Carrying amount At 31 December 2007 721 120 129 970 89 Software Other Assets in Total intangible assets progress Cost At 1 January 2006 3,575 256 118 3,949 Additions - - 231 231 Disposals (6) (3) - (9) Transfers 165 17 (182) - At 31 December 2006 3,734 270 167 4,171 Amortization At 1 January 2006 (2,805) (186) - (2,991) Additions (281) (23) - (304) Disposals 8 3 - 11 At 31 December 2006 (3,078) (206) - (3,284) Carrying amount At 31 December 2006 656 64 167 887 VUB, a bank of Intesa Sanpaolo group
14. Property and equipment and Non-current assets held for sale Buildings Equipment Other Assets in Total and land tangibles progress Cost At 1 January 2007 6,679 3,061 1,119 325 11,184 Additions - - - 224 224 Disposals (559) (217) (91) - (867) Transfers 120 234 39 (393) - At 31 December 2007 6,240 3,078 1,067 156 10,541 Depreciation At 1 January 2007 (1,755) (2,516) (695) - (4,966) Additions (278) (225) (97) - (600) Disposals 199 213 82 - 494 At 31 December 2007 (1,834) (2,528) (710) - (5,072) Impairment losses (note 10) At 1 January 2007 (1) - - - (1) Net reversal - - - - - At 31 December 2007 (1) - - - (1) Carrying amount At 31 December 2007 4,405 550 357 156 5,468 90 Buildings Equipment Other Assets in Total and land tangibles progress Cost At 1 January 2006 6,565 3,440 1,205 410 11,620 Additions - - - 364 364 Disposals (23) (603) (133) - (759) Transfers 137 224 47 (449) (41) At 31 December 2006 6,679 3,061 1,119 325 11,184 Depreciation At 1 January 2006 (1,494) (2,917) (734) - (5,145) Additions (290) (202) (94) - (586) Disposals 29 603 133 - 765 At 31 December 2006 (1,755) (2,516) (695) - (4,966) Impairment losses (note 10) At 1 January 2006 (481) - - - (481) Net reversal 480 - - - 480 At 31 December 2006 (1) - - - (1) Carrying amount At 31 December 2006 4,923 545 424 325 6,217 At 31 December 2007 and 2006, the VUB Group held in its portfolio of non-current assets held for sale buildings as follows: 2007 2006 Cost 533 38 Accumulated depreciation (185) (11) Impairment losses (note 10) - (12) 348 15 <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
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 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 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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Annual Report - VÃB banka