consolidated annual report - Gruppo Banca Sella

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276 - GRUPPO BANCA SELLA STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY Years ended as at 31/12/2003 and 31/12/2004 Subscribed Reserves Reserve for Profit for capital Legal Other general the year Total reserve reserves banking risk Balances as at 31/12/2002 20.000 6.139 201.026 54.823 14.360 296.348 Allocation of net profit: - Various disbursements (140) (140) - Dividends distributed (2.377) (2.377) - Allocation to the legal reserve 139 (139) - - Allocation to reserves 11.404 (11.404) - - Provision to the reserve for general banking risks 300 (300) - - Changes in scope of consolidation and other changes 1.814 1.814 - Exchange rate differences for the translation of foreign currency financial statements (1.280) (1.280) - Profit for year 2003 12.824 12.824 Balances as at 31/12/2003 20.000 6.278 212.964 55.123 12.824 307.189 Allocation of net profit: - Various disbursements (140) (140) - Dividends distributed (1.703) (1.703) - Allocation to the legal reserve 90 (90) - - Allocation to reserves 10.891 (10.891) - - Provision to the reserve for general banking risks - - Changes in scope of consolidation (69) (69) - Exchange rate differences for the translation of foreign currency financial statements 272 272 - Profit for year 2004 26.770 26.770 Balances as at 31/12/2004 20.000 6.368 224.058 55.123 26.770 332.319
STATEMENT OF CASH FLOW Funds generated and taken Application of funds 2004 2003 Profit for the year 26.770 12.824 Provision to the reserve for possible loan losses 1.967 1.990 Write-downs to the items which do not create movements in the available financial balances: - Write-downs to tangible and intangible fixed assets 45.033 57.973 - Provision to the staff severance provision 5.881 5.324 Total funds generated by operations 79.651 78.111 Shareholders’ equity (change in scope of consolidation, exchange rate differences for the conversion of foreign currency financial statements and other changes) 203 534 Reserve for possible loan losses (exchange rate differences for the conversion of foreign currency financial statements) 13 3 Other funds generated and taken: Increases (Decreases) - Due to banks (118.481) (290.191) - Due to customers 383.457 408.401 - Securities issued 54.520 14.188 - Other liabilities (73.292) 41.746 - Accruals and deferred income 84 (5.406) - Provisions for risks and charges (2.486) 10.416 - Minority interests 2.394 (5.091) - Subordinated liabilities 43.292 24.777 - Staff severance provision (increase for purchase of corporate business) - - - Increases of funds for changes in scope of consolidation - - Total 369.355 277.488 2004 2003 Dividends paid 1.703 2.377 Various disbursements 140 140 Acquisitions of tangible and intangible fixed assets 39.745 1.190 Variation on goodwill arising on consolidation and on application of the equity method 778 17.661 Use of the staff severance provision 2.837 2.060 Use of the reserve for possible loan losses 2.126 2.651 Other funds applied: Increases (Decreases) - Cash and balances with central banks 16.081 (1.840) - Securities 28.733 73.233 - Due from banks (90.240) (486.359) - Due from customers 384.182 677.816 - Equity investments, shares and similar instruments 1.159 (8.540) - Other assets (22.256) 2.808 - Prepayments and accrued income 4.367 (5.709) Total 369.355 277.488 Consolidated <strong>annual</strong> <strong>report</strong> 2004 - 277
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GRUPPO BANCA SELLA CONSOLIDATED ANN
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Section 4 - Tangible and intangible
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BOARD OF DIRECTORS’ CONSOLIDATED
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FINANCIAL RATIOS PROFITABILITY RATI
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- accomplishment of the project for
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R.O.E. (1) 2004 2003 2002 Banca Sel
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F I N A N C I A L R E S U LT S NET
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Loan losses (excluding write-ups to
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SECURITIES PORTFOLIO Consolidated s
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COMMERCIAL AND DISTRIBUTION POLICIE
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BRANCHES OF THE BANKS OF THE GROUP
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An analysis of Group staff highligh
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arise. It puts forward proposals an
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AUDITING CONTROL SURVEYS 2004 2003
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LOANS AS AT 31/12/2004 AND AS AT 31
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ASSETS UNDER MANAGEMENT AND THIRD P
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to € 17,3 million (including divi
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item was given by commissions on th
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Net collected assets showed a posit
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International Capital Holding S.A.
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one person and the rise in wages ac
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2005 OUTLOOK ECONOMIC BACKGROUND Th
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REMARKABLE FACTS AFTER CLOSING OF T
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BOARD OF STATUTORY AUDITORS’ CONS
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CONSOLIDATED FINANCIAL STATEMENTS O
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LIABILITIES (figures in euro thousa
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EXPLANATORY NOTES TO THE CONSOLIDAT
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The consolidated financial statemen
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ties hedged and the characteristics
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Sella Holding N.V. Participation ho
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any interest on arrears accrued and
Page 66 and 67: Dividends Dividends in favour of th
Page 68 and 69: SECTION 1 LOANS 1.1 Caption 30 “D
Page 70 and 71: 1.9 Movements in write-downs during
Page 72 and 73: 2.1 Investment securities 232 - GRU
Page 74 and 75: 3.1 Significant investments Head Ty
Page 76 and 77: Here below are stated the operation
Page 78 and 79: Name of company Activity Ownership
Page 80 and 81: 4.1 Changes during the year in tang
Page 82 and 83: SECTION 6 PAYABLES 6.1 Caption 10
Page 84 and 85: 7.1 Caption 90 “Reserves for poss
Page 86 and 87: Changes in caption 70 “Staff seve
Page 88 and 89: Caption 150 “Subscribed capital
Page 90 and 91: The floating rate bond loan issued
Page 92 and 93: 9.2 Caption 60 “Accruals and defe
Page 94 and 95: 10.5 Forward transactions Transacti
Page 96 and 97: 11.5 Geographical distribution of a
Page 98 and 99: 12.1 Securities dealing 258 - GRUPP
Page 100 and 101: The situation since the beginning o
Page 103 and 104: PART C - INFORMATION ABOUT CONSOLID
Page 105 and 106: SECTION 2 COMMISSIONS 2.1 Caption 4
Page 107 and 108: SECTION 3 DEALING PROFITS/LOSSES 3.
Page 109 and 110: SECTION 5 WRITE-DOWNS, WRITE-UPS AN
Page 111 and 112: SECTION 6 OTHER INCOME STATEMENT CA
Page 113 and 114: PART D - OTHER INFORMATION (all fig
Page 115: ANNEXES (all figures are shown in e
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