GENERAL MEETING DRAFT - Bankier.pl

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In 2009 the item Fair value adjustments in hedge accounting amounted to �24m (�17m in 2008),
whichwastheresultof�5,002m gains and �4,978m losses.
5.1 Fair value adjustments in hedge accounting: breakdown (� '000)
2009 CONSOLIDATED REPORTS AND ACCOUNTS
Profit Component/Values 2009 2008
A. Gains on:
A.1 Fair value hedging instruments 2,728,175 4,534,386
A.2 Hedged asset items (in fair value hedge relationship) 585,703 1,839,300
A.3 Hedged liability items (in fair value hedge relationship) 1,685,332 500,896
A.4 Cash-flow hedging derivatives 1,403 3,156
A.5 Assets and liabilities denominated in currency 1,749 1,227
Total gains on hedging activities (A) 5,002,362 6,878,965
B. Losses on:
B.1 Fair value hedging instruments (2,140,029) (3,517,899)
B.2 Hedged asset items (in fair value hedge relationship) (194,372) (537,616)
B.3 Hedged liability items (in fair value hedge relationship) (2,641,380) (2,799,193)
B.4 Cash-flow hedging derivatives (1,839) (4,034)
B.5 Assets and liabilities denominated in currency (981) (3,538)
Total losses on hedging activities (B) (4,978,601) (6,862,280)
C. Net hedging result (A - B) 23,761 16,685
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In 2009 the disposal/repurchase of financial assets/liabilities generated net gains in the amount of
�411m (�198m in 2008).
6.1 Gains and losses on disposals/repurchases: breakdown (� '000)
2009 2008
Items /P&L Items Gains Losses Net profit Gains Losses Net profit
Financial assets
1. Loans and receivables with banks 73,836 (46,197) 27,639 2,626 (198) 2,428
2. Loans and receivables with
customers 95,109 (41,265) 53,844 38,130 (47,295) (9,165)
3. Available-for-sale financial assets 386,111 (191,266) 194,845 611,176 (441,573) 169,603
3.1 Debt securities 84,608 (87,013) (2,405) 58,119 (120,742) (62,623)
3.2 Equity instruments 280,427 (77,689) 202,738 532,034 (296,727) 235,307
3.3 Units in investment funds 21,076 (26,545) (5,469) 21,023 (23,993) (2,970)
3.4 Loans - (19) (19) - (111) (111)
4. Held-to-maturity investments 11,511 (5,186) 6,325 610 (846) (236)
Total assets
Financial liabilities
566,567 (283,914) 282,653 652,542 (489,912) 162,630
1. Deposits with banks - - - - - -
2. Deposits with customers 16,028 (19) 16,009 55,669 (12) 55,657
3. Debt securities in issue 187,310 (74,482) 112,828 19,833 (39,985) (20,152)
Total liabilities 203,338 (74,501) 128,837 75,502 (39,997) 35,505
Total financial assets and liabilities 411,490 198,135
2008 gains concerning the sub-item ”3. Available-for-sale financial assets – 3.2 Equity instruments”, which amounted to �532m, include net gains on
disposal of shares of �372m, of which the main components are: Atlantia (�156m), Attijariwafa Bank (�83m), Mastercard (�42m), Speed SpA (�19m), Visa
(�20m) and Euroclear (�19m).
2009 gains recognized in the same sub-item 3.2 Equity instruments (�280m) include gains on the disposal of shares included in AFS portfolio for a total
amount of �121m, of which the main components are: Banco Sabadell (�30 m), Mastercard (�22m), SI Holding (�15m), BPH Bank (�10m), Visa Inc.
(�10m) and Finaosta (�10m). Referred to other equity instruments there is a gain recognized for Heidelberg Cement (�45m).
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