Annual Report: - Gorenjska banka

17. – 39. Notes to the statement of financial position
103
Gorenjska banka, d. d., Kranj
Annual Report 2011
Financial Report
In thousands of EUR
2011 2010
17. Cash and balances with central bank
Cash in hand 9,306 7,306
Balances with central banks 18,401 3,452
27,707 10,758
18. Financial assets held for trading
Securities:
Debt securities – listed 28,944 35,472
Equity securities – listed 23,777 27,593
Fair value of derivatives:
Forwards (currency forwards) 12 -
Options (equity options) - 2,919
52,733 65,984
Among the listed bonds are included the bonds in the amount of EUR 19,864 thousand (2010: EUR 20,308 thousand),
which have the nature of subordinated debt. Commitments at the time the bankruptcy or liquidation are subordinated
to debt instruments and are not paid soon, until they are paid all the (not-subordinated) obligations to ordinary credi
tors. Other than interest and principal, the Bank from such bonds had no other rights.
In 2011, the Bank applied a valuation model to measure the fair value of the Sava, d.d., Kranj shares (Note 4.4.3.1).
The notional amounts of derivative financial instruments are disclosed in Note 40.b.
In 2010, the Bank impared the fair value of equity options of EUR 8,319 thousand (2010: EUR 9,931 thousand) (Note 15).
The movement of the positive fair value of equity options:
Balance at 1 January 2010 4,810
Positive fair value increase 8,040
Impairment (Note 15) (9,931)
Balance at 31 December 2010 2,919
Positive fair value increase 5,400
Impairment (Note 15) (8,319)
Balance at 31 December 2011 -
19. Financial assets designated at fair value through profit or loss
Debt securities 55,032 54,269
55,032 54,269
Debt securities represent equity-linked bonds with embedded derivatives. Their yield depends on the movement of
certain shares. These securities are principal-guaranteed bonds with an equity-linked coupon.