Annual Report - VÃB banka

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22. Other liabilities 2007 2006 Various creditors 1,176 629 Financial guarantees and commitments 315 275 Severance 18 37 Retention program 12 17 Settlement with employees 514 509 VAT payables and other tax payables 90 88 Accruals and deferred income 57 31 Payables from trading with securities - 26 2,182 1,612 The movements in provision for fi nancial guarantees and commitments, severance and retention program were as follows: 1 Jan Creation/ 31 Dec 2007 (Reversal) 2007 Financial guarantees and commitments (note 31) 275 40 315 Severance (note 29) 37 (19) 18 Retention program (note 29) 17 (5) 12 329 16 345 23. Share capital 93 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 3,500 3,758 Divided by 12,978,108 ordinary shares of Sk 1,000 each Basic and diluted earnings per share in Sk 270 290 The principal rights attached to shares are to take part in and voting at the general meeting of shareholders and to receive dividends. VUB, a bank of Intesa Sanpaolo group
23. 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 2,410 1,454 Legal reserve fund 2,636 2,636 Less software (incl. acquisition) (851) (652) 17,576 16,819 Tier 2 capital - - Regulatory adjustment Investment in subsidiaries, associates and jointly controlled entities (3,430) (2,485) 94 Total regulatory capital 14,146 14,334 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 Bank must maintain a capital adequacy ratio of at least 8% according to NBS regulations. The capital adequacy is the ratio between the Bank’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 Bank complied with the NBS requirement for the capital adequacy ratio as at 31 December 2007 and 2006. 24. Financial commitments and contingencies 2007 2006 Issued guarantees 11,416 9,617 Commitments and undrawn credit facilities 66,516 34,920 77,932 44,537 <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
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Maturities of gross fi nance lease
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13. Investments in associates and j
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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 90 and 91: 12. Subsidiaries, associates and jo
Page 92 and 93: 15. Current income tax assets 2007
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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