Annual Report & Accounts 2009 - Anglo Irish Bank

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Notes to the financial statements continued 15. Taxation 15 months Year ended ended 31 December 30 September 2009 2008 €m €m Current taxation 76 Irish corporation tax - current period (91) 105 Irish corporation tax - prior year - 1 Double taxation relief - (6) Foreign tax - current period 13 39 Foreign tax - prior year 7 (1) Deferred taxation (71) 138 Current period - temporary timing differences (note 35) (49) (18) Taxation (credit)/charge for period (120) 120 Effective tax rate (0.9%) 15.3% The reconciliation of taxation on (losses)/profits at the standard Irish corporation tax rate to the Group's actual tax (credit)/charge is analysed as follows: 15 months Year ended ended 31 December 30 September 2009 2008 €m €m (Loss)/profit before taxation at 12.5% Effects of: (1,604) 98 Deferred tax asset not recognised on losses available for carry forward Foreign earnings subject to different tax rates including the impact of a 1,487 - Japanese Yen financing arrangement (note 5) (47) 12 Deferred tax adjustments in respect of prior periods 15 - Unrealised losses on investments 10 - Under-provision in prior periods 7 - Other 12 10 Taxation (credit)/charge for period (120) 120 A current tax credit has been recognised to the extent that losses can be carried back against prior period profits. A deferred tax credit has been recognised to the extent that it is probable that future taxable profits will be available against which losses can be utilised.
16. (Loss)/profit attributable to owner of the parent The Group loss for the period attributable to the owner of the parent includes €12,790m (30 September 2008: profit of €641m) which is dealt with in the financial statements of the parent Bank. As permitted by Irish legislation, a separate income statement for the parent Bank has not been presented. 17. Non-controlling interests The loss attributable to non-controlling interests is analysed as follows: Impairment attributable to non-controlling interests Decrease in fair value of net assets held under investment contracts attributable to non-controlling interests (note 8) Other non-controlling interests 15 months Year ended ended 31 December 30 September 2009 2008 €m €m (9) - - (7) (1) 1 (10) (6) 18. Distributions on equity shares 15 months Year ended ended 31 December 30 September 2009 2008 €m €m Ordinary shares of €0.16 each 2007 final dividend of 13.01c per share - 99 2008 interim dividend of 7.78c per share - 60 - 159 Final dividend scrip - (12) Interim dividend scrip - (7) Equity dividends paid - 140 Dividends on ordinary shares are recognised in equity in the period in which they are approved. 19. Cash and balances with central The Group The Bank banks 31 December 30 September 31 December 30 September 2009 2008 2009 2008 €m €m €m €m Cash and balances with central banks 302 1,822 302 1,809 These amounts include only those balances with central banks which may be withdrawn without notice. Anglo Irish Bank Annual Report & Accounts 2009 Cash and balances with central banks primarily relate to the Bank’s minimum reserve requirement held with the Central Bank and Financial Services Authority of Ireland. Irish credit institutions must maintain a minimum reserve requirement over a specified maintenance period. Balances can be withdrawn as long as the requirement is met on average over this maintenance period. As a result, period end balances do not necessarily indicate the level of this minimum requirement. 77
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Annual Report & Accounts 2009
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Contents Page Chairman’s statemen
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Legacy matters The Bank is continui
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Jim Brydie was appointed Head of Gr
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Business review This business revie
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Divisional lending balances by sect
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holdings, reduced investment cash f
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30 September 2008. Average total cu
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Income statement - treasury impairm
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to acquire these assets they are in
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Board of Directors Donal O’Connor
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In keeping with our environmental p
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Principal risks and uncertainties T
Page 27 and 28: Credit risk Credit risk is the risk
Page 30 and 31: Report of the Directors The Directo
Page 32 and 33: Corporate governance statement On 1
Page 34 and 35: Corporate governance statement cont
Page 36 and 37: Independent Auditors' report to the
Page 38 and 39: Consolidated income statement For t
Page 40 and 41: Consolidated statement of financial
Page 42 and 43: Consolidated statement of changes i
Page 44 and 45: Statement of cash flows For the 15
Page 46 and 47: Notes to the financial statements I
Page 48 and 49: Notes to the financial statements c
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Notes to the financial statements c
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Supplementary information Consolida
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www.angloirishbank.com Anglo Irish
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