GB00_erste lage_E - Erste Group

2000 CONSOLIDATED FIANCIAL STATEMENTS ACCORDING TO IAS
In December 2000 Erste Bank acquired an additional 25.58% of Salzburger Sparkasse from the
City of Salzburg, boosting Erste Bank’s share in both direct and indirect investments to 98.69%.
As part of its e-business strategy, ecetra Internet Services AG and ecetra Central European
e-Finance AG were founded during the current financial year. The future activities of these companies
will focus on e-brokerage services for the Central European market.
In addition to a number of mergers and reestablishments, which also included outsourcing certain
functions to other fully consolidated companies in the Group, Erste Bank sold 33.4% of its
interest in Intermarket Factoring Bank AG. The remaining shares were stated at equity. The equity
held in NOVA Reisebüro GmbH was sold.
Erste Finance Ltd (Jersey) II, Jersey, was founded mid-year and floated a sub-Tier 1 issue (for partial
funding of the purchase price of Česká spořitelna).
In the 2000 Consolidated Financial Statements, investments in 198 associates are included, of
which 129 companies were accounted for using the equity method. The remaining associates
were reported under financial investments, because they are of minor significance in presenting
a true and fair view of the Group’s assets, earnings and financial position.
Proportionate consolidation is not applied in the Consolidated Financial Statements (IAS 31.28).
Companies in which a capital share of between 20% and 50% is held that are not fully consolidated
and joint ventures are reported in the Consolidated Financial Statements at equity, as joint
ventures are of minor significance in the shareholdings portfolio of the Erste Bank Group.
90 subsidiaries whose influence on the Group’s assets, earnings and financial position is of
minor significance and 3 undertakings whose assets are subject to restrictions due to provisions
of the Non-Profit Housing Act were not consolidated.
Shareholdings in significant companies and their reporting in the Consolidated Financial Statements
are presented in Note 48.
76 Erste Bank 2000