consolidated annual report - Gruppo Banca Sella

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4.1 Changes during the year in tangible fixed assets 240 - GRUPPO BANCA SELLA SECTION 4 TANGIBLE AND INTANGIBLE FIXED ASSETS Property Furniture Property waiting Total and equipment to be leased A. Opening balance 101.402 20.901 48.287 170.590 B. Increases 2.385 15.487 33.086 50.958 B.1 Purchases 2.000 12.325 33.086 47.411 B.2 Write-ups - - - - B.3 Revaluations - - - - B.4 Other changes 385 3.162 - 3.547 C. Decreases 2.987 14.717 21.458 39.162 C.1 Sales 86 185 - 271 C.2 Write-downs 2.538 13.984 - 16.522 a) Amortizations 2.538 13.984 - 16.522 b) Permanent write-downs - - - - C.3 Other changes 363 548 21.458 22.369 D. Closing balance 100.800 21.671 59.915 182.386 E. Total revaluations 21.662 96 - 21.758 F. Total write-downs 19.058 146.858 - 165.916 a) Amortizations 19.058 146.718 - 165.776 b) Permanent write-downs - 140 - 140 4.2 Changes during the year in intangible fixed assets Software Expenses for Goodwill Other Total rented fixed assets A. Opening balance 17.130 634 7.859 12.365 37.988 B. Increases 7.484 52 - 4.321 11.857 B.1 Purchases 7.324 48 - 4.317 11.689 B.2 Write-ups - - - - - B.3 Revaluations - - - - - B.4 Other changes 160 4 - 4 168 C. Decreases 9.836 480 1.232 5.322 16.870 C.1 Sales - - - - - C.2 Write-downs 9.743 480 1.232 4.985 16.440 a) Amortizations 9.743 480 1.232 4.985 16.440 b) Permanent write-downs - - - - - C.3 Other changes 93 - - 337 430 D. Closing balance 14.778 206 6.627 11.364 32.975 E. Total revaluations - - - - - F. Total write-downs 70.293 9.583 5.458 19.178 104.512 a) Amortizations 70.293 9.583 5.458 19.178 104.512 b) Permanent write-downs - - - - - In the years 2001 to 2004, some Banks of the Group and the relevant trade unions stipulated agreement for the use of the Solidarity Fund for the support of income, employment and reconversion and professional requalification of employees belonging to credit institutions. As by the instructions issued by Banca d’Italia (memorandum No.735 of 20/02/2003) the relevant items in the financial statements were recorded as follows: - Banca Sella: amortization quota relevant to 2004 amounting to € 369.846 at item 90 of the Income Statement (“Write-downs to tangible and intangible fixed assets”), reducing the amount at item 90 of Balance Sheet assets (“Intangible fixed assets”) to € 739.692; - Banca Arditi Galati: amortization quota relevant to 2004 amounting to € 663.767 at item 90 of the Income Statement (“Write-downs to tangible and intangible fixed assets”), reducing the amount at item 90 of Balance Sheet assets (“Intangible fixed assets”) to € 1.735.000; - Banca Bovio Calderari: amortization quota relevant to 2004 amounting to € 59.656 at item 90 of the Income Statement (“Write-downs to tangible and intangible fixed assets”), reducing the amount at item 90 of Balance Sheet assets (“Intangible fixed assets”) to € 178.968.
SECTION 5 OTHER ASSETS 5.1 Caption 150 “Other assets”. Composing items 2004 2003 Current account cheques drawn on third parties still to be transacted 55.691 61.548 Current account cheques drawn by customers still to be processed 29.315 23.238 Expired coupons and securities in negotiation 4.592 11.277 Prepaid taxes 70.544 36.583 Taxes paid in advance on staff severance 1.138 1.569 Overpaid advance of tax withholding and indirect taxation 2.500 2.149 Tax credit on dividends - 4.417 Due from tax authority 19.279 30.692 Assets for taxes paid in advance (Assets for deferred taxation) 16.803 15.035 Withholding taxes 642 482 Due from premiums paid on purchased options not yet exercised 10.266 1.779 Premiums on derivative contracts still to be settled at maturity 12.191 14.570 Revaluation of forward transactions and derivative contracts 26.374 27.904 Caution money established on own account 926 10.744 Fees and commissions to be debited 27.820 36.364 Sundry payment orders to be debited 69.585 80.190 Write-downs to illiquid balances from portfolio transactions - - Items in transit between branches which are not attributed to specific accounts 1.696 6.296 Advances towards suppliers 10.830 14.326 Stored forms 495 569 Grants due for work-experience contracts 758 766 Adjustments from consolidation 4.781 16.867 Other items 29.017 20.134 Total 395.243 417.499 The composition of item “Assets on taxes paid in advance” is shown in Part B, Section 7 (“Provisions”). 5.2 Caption 160 “Prepayments and accrued income”. Composing items 2004 2003 Accrued income on: Interest on due from banks 2.373 2.239 Interest on due from customers 14.176 14.102 Interest on securities in own portfolio 9.661 9.086 Differentials on derivative contracts 2.388 2.788 Financial leases 1.851 6.831 Fees and sundry proceeds 8.469 6.093 Other 549 273 39.467 41.412 Prepayments on: Advanced interest to banks and customers 746 374 Fees and commissions 15.975 12.826 Administrative expenses (rents, insurances, etc.) 7.089 4.531 Discounts on bond issues 304 42 Other 390 419 24.504 18.192 Total 63.971 59.604 5.4 Distribution of subordinated assets 2004 2003 a) Due from banks - - b) Due from customers - - c) Bonds and other debt securities 12.955 5.313 Total 12.955 5.313 Consolidated annual report 2004 - 241
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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
Page 29 and 30: AUDITING CONTROL SURVEYS 2004 2003
Page 31 and 32: LOANS AS AT 31/12/2004 AND AS AT 31
Page 33 and 34: ASSETS UNDER MANAGEMENT AND THIRD P
Page 35 and 36: to € 17,3 million (including divi
Page 37 and 38: item was given by commissions on th
Page 39 and 40: Net collected assets showed a posit
Page 41 and 42: International Capital Holding S.A.
Page 43 and 44: one person and the rise in wages ac
Page 45 and 46: 2005 OUTLOOK ECONOMIC BACKGROUND Th
Page 47 and 48: REMARKABLE FACTS AFTER CLOSING OF T
Page 49 and 50: BOARD OF STATUTORY AUDITORS’ CONS
Page 51 and 52: CONSOLIDATED FINANCIAL STATEMENTS O
Page 53 and 54: LIABILITIES (figures in euro thousa
Page 55: EXPLANATORY NOTES TO THE CONSOLIDAT
Page 58 and 59: The consolidated financial statemen
Page 60 and 61: ties hedged and the characteristics
Page 62 and 63: Sella Holding N.V. Participation ho
Page 64 and 65: 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 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 and 116: ANNEXES (all figures are shown in e
Page 117: STATEMENT OF CASH FLOW Funds genera
Page 120 and 121: 280 - GRUPPO BANCA SELLA
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consolidated annual report - Gruppo Banca Sella

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