IBRC annual report for 2011 - Irish Bank Resolution Corporation ...

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Notes to the financial statements continued50. Risk management continuedCredit risk continuedAsset quality - profile of loans and advances to customers continuedThe Group2010Business OtherCommercial Residential Banking Lending Total€m €m €m €m €mGood qualitySatisfactory qualityLower quality but not past dueor impairedTotal neither past dueor impairedPast due but not impairedImpaired loansProvisions for impairmentLess:Lending to policyholders in respect ofinvestment contracts (note 40)Total6,183 447 445 292 7,367911 35 79 10 1,0353,850 365 73 40 4,32810,944 847 597 342 12,7303,363 384 417 1,232 5,39611,145 1,515 2,438 1,466 16,56425,452 2,746 3,452 3,040 34,690(5,702) (692) (1,865) (1,318) (9,577)19,750 2,054 1,587 1,722 25,113(749)24,364Provisions for impairment on loansand advances to customersThe Group2010Business OtherCommercial Residential Banking Lending Total€m €m €m €m €mAt beginning of year 2,862 315 743 926 4,846Charge against profits 2,634 309 1,647 387 4,977Write-offs (156) (10) (193) (4) (363)Recoveries 1 - - - 1Unwind of discount (119) (18) (24) (7) (168)Exchange movements 33 (26) 28 64 99Net transfers from/(to) assetsclassified as held for sale andsectoral reclassification 447 122 (336) (48) 185At end of year 5,702 692 1,865 1,318 9,577Specific 4,979 623 1,694 1,045 8,341Collective 723 69 171 273 1,236Total 5,702 692 1,865 1,318 9,577The charge against profits includes collective provisions for impairment analysed on a portfolio basis.114
Irish Bank Resolution Corporation LimitedAnnual Report & Accounts 2011Aged analysis of loans and advances to customers past due but not impairedThe following tables present an analysis of loans and advances to customers where contractual interest or principal paymentsare past due but impairment is not appropriate as the level of collateral and the present value of estimated future cash flowsavailable to the Group is sufficient.Past due 1 to 30 daysThe Group2011Business Residential OtherCommercial Residential Banking Mortgages Lending Total€m €m €m €m €m €m424 18 74 49 33 598Past due 31 to 60 days23 36 - 25 11 95Past due 61 to 90 days66 1 36 75 2 180Past due 91 days and over1,403 327 55 96 269 2,150Total 1,916 382 165 245 315 3,023The Group2010Business OtherCommercial Residential Banking Lending Total€m €m €m €m €mPast due 1 to 30 days1,162 129 287 57 1,635Past due 31 to 60 days502 4 1 7 514Past due 61 to 90 days329 18 4 26 377Past due 91 days and over1,370 233 125 1,142 2,870Total 3,363 384 417 1,232 5,396The ageing of past due balances has continued to deteriorate during the period. Key contributing factors include the continueddifficult macroeconomic environment and a tightening of the Bank's credit policy in relation to facilities at renewal date,particularly on those facilities where interest was being capitalised on customer loan balances.115
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Irish Bank Resolution Corporation L
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ContentsIrish Bank Resolution Corpo
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Chairman’s statementIrish Bank Re
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Group Chief Executive’s reviewIri
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Group Chief Executive’s review co
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Business review continuedIrish Bank
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Board of DirectorsIrish Bank Resolu
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Corporate Responsibility continuedI
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Principal risks and uncertainties c
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Principal risks and uncertainties c
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Report of the DirectorsIrish Bank R
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Corporate governance statementIrish
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Corporate governance statement cont
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Corporate governance statement cont
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OpinionIn our opinion:• the Group
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Consolidated statement of comprehen
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Bank statement of financial positio
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Supplementary information (unaudite
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