Annual Report - VÃB banka
Annual Report - VÃB banka
Annual Report - VÃB banka
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19. Debt securities in issue<br />
2007 2006<br />
Bonds 2,002 2,001<br />
Mortgage bonds 24,725 20,277<br />
26,727 22,278<br />
In 2007, the Bank issued mortgage bonds denominated in Sk in the nominal amount of Sk 3,150 million and<br />
mortgage bonds denominated in CZK in the nominal amount of CZK 1,800 million (Sk 2,273 million). Mortgage<br />
bonds in the total nominal amount of Sk 1,000 million matured and were fully repaid during 2007.<br />
In 2006, the Bank issued mortgage bonds denominated in Sk in nominal amount of Sk 3,100 million and<br />
mortgage bonds denominated in EUR in nominal amount of EUR 150 million (Sk 5,186 million). Mortgage<br />
bonds in the total nominal amount of Sk 750 million matured and were fully repaid during 2006.<br />
The repayment of mortgage bonds is funded by the mortgage loans provided to customers of the Bank (see<br />
also note 9).<br />
20. Current and deferred income tax liabilities<br />
92<br />
2007 2006<br />
Current income tax liabilities 700 -<br />
Deferred income tax liabilities 347 244<br />
1,047 244<br />
Deferred income taxes are calculated on all temporary differences using the tax rate of 19% (2006: 19%)<br />
as follows:<br />
2007 2006<br />
Loans and securities (345) (305)<br />
Property and equipment (61) (33)<br />
Other liabilities and provisions 53 86<br />
Tax losses carried forward - 2<br />
Other 6 6<br />
(347) (244)<br />
21. Provisions<br />
2007 2006<br />
Litigations 968 990<br />
The movement in provisions was as follows:<br />
1 Jan Reversal 31 Dec<br />
2007 2007<br />
Litigations (note 30) 990 (22) 968<br />
<strong>Annual</strong> <strong>Report</strong> 2007