Annual Report 2012 - The Cyprus Development Bank

NOTES TO THE FINANCIAL STATEMENTSFor the year ended 31 December 201228. CONTINGENT LIABILITIES AND COMMITMENTS (continued)CommitmentsTHE GROUP THE COMPANY2012 2011 2012 2011€’ 000 €’ 000 €’ 000 €’ 000Documentary credits 3.588 5.247 3.588 5.247Undrawn commitments for loans and advances granted to clients 48.529 74.721 45.268 73.31952.117 79.968 48.856 78.566Documentary credits represent bank commitments for payment to third parties, on condition that the terms of the documentarycredit are satisfied, including the presentation of the required documents. The repayment by the client is usually immediate.Undrawn commitments for loans and advances represent agreements to grant loans, overdrafts or other facilities to a client thathave not yet been utilised by the client.29. CAPITAL COMMITMENTSCommitments for contracted capital expenditure as at 31 December 2012 amount to €2.750 thousand (2011: €71 thousand).30. CASH AND CASH EQUIVALENTSThe cash and cash equivalents that are included in the cash flows statement consist of the following balances:THE GROUP THE COMPANY2012 2011 2012 2011€’ 000 €’ 000 €’ 000 €’ 000Cash 1.252 1.165 732 437Balances with central banks 84.352 50.440 77.801 45.998Balances with other banks 74.280 29.218 73.734 28.094Balances due to banks within three months - (2) - (2)159.884 80.821 152.267 74.52742