Annual Report 2010 - ProCredit Bank

82
Annual Report 2010
31. Share Capital
The ownership structure of the ProCredit Bank a.d. Belgrade as at
31 December 2010 and 2009 is as follows:
Number of shares Share in %
2010 2009 2010 2009
ProCredit Holding AG 3,052,510 3,052,510 83.33 83.33
Commerzbank AG 610,502 610,502 16.67 16.67
3,663,012 3,663,012 100.00 100.00
The Group is controlled by ProCredit Holding AG, Germany, which
owns 83,33% of shares. The remaining 16.67% is owned by
Commerzbank AG. The ultimate parent of the group is ProCredit
Holding AG.
The total number of shares at the end of the year was 3,663,012
(2008: 3,663,012) with nominal value of 1,000 RSD per share
(2009: 1,000 RSD per share). In 2010. there was no issue of shares
(2008: 1.299,738 shares issued affecting increase of Share capital
by RSD 1,299,738 thousand and Share premium by RSD 1,450,932
thousand).
32. Special banking risks reserves
According to the Central Bank’s decision on classification of banks
balance sheet assets and off-balance sheet items, starting with 30
June 2006, the Group is obliged to allocate from retained earnings
to a special account reserve in equity the difference between the
amounts of allowances for loans and advances to banks and customers
calculated based on the Group’s internal rules and Central
Bank provisioning regulations, respectively. The amounts allocated
to special account reserves are not distributable to shareholders.
As at 31 December 2010, the special banking risk reserves under
Central Bank’s regulations amounted to RSD 1,643,864 thousand
(31 December 2009: RSD 1,345,592 thousand).
During 2010 the Bank has allocated to special account reserves the
amount of RSD 298,272 thousand (2009: 269,407), after approval
of the Bank’s shareholders, in order to reach the level prescribed
by the Central Bank.
34. Contingent liabilities and commitments
The following table indicates the contractual amounts of the
Group’s off-balance sheet financial instruments that commit it to
extend credit to customers:
At 31 December
2010 2009
Payments and guarantees 5,266,211 4,996,178
Acceptances and endorsements 4,862 4,862
Loan commitments 1,961,441 1,884,115
Letters of credit 97,538 43,036
Credit related
commitments (Note 3.B.3) 7,330,052 6,928,191
Performance guarantees 769,691 605,823
Balance as at 31 December 8,099,743 7,534,014
The following table shows the Operating lease commitments for
rent of business premises:
At 31 December
2010 2009
No later than 1 year 8,119 44,499
Later than 1 year and no
later than 5 years 91,597 188,588
Later than 5 years 1,202,351 1,453,393
1,302,067 1,686,480
35. Related party transactions
33. Cash and cash equivalents
At 31 December
2010 2009
Cash and balances
with Central Bank (Note 12) 21,025,345 22,366,213
Nostro accounts with
other banks (Note 13) 234,593 118,635
Money market placements (Note 13) 479,052 662,263
21,738,990 23,147,111
In normal course of business, the Group enters into transactions
with its shareholders and other micro finance institutions in Central
and Eastern Europe.
A number of banking transactions are entered into with related
parties in the normal course of business. These include loans, deposits
and foreign currency transactions. There were related-party
transactions with the ultimate parent company ProCredit Holding
AG, other than the payment of dividends on ordinary shares.