Revizorski izvjestaj 2006 (pdf) - Montenegro berza

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NOTES TO THE FINANCIAL STATEMENTS December 31, 2006 CRNOGORSKA KOMERCIJALNA BANKA A.D., PODGORICA 7. OPERATING EXPENSES (thousands of €) Year Ended December 31, 2006 2005 Staff costs 6,451 4,247 Administrative expenses 1,690 1,764 Depreciation and amortization 1,389 1,543 Rentals 367 294 Software and hardware expenses 580 533 Vehicle maintenance costs 94 273 Professional services 362 304 Deposit insurance premium 707 580 Marketing, sponsorship, and entertainment 1,532 1,289 Other 303 318 13,475 11,145 8. LOSSES ON IMPAIRMENT AND PROVISIONS (thousands of €) Year Ended December 31, 2006 2005 Loans to customers 3,237 954 Reversal of provision on loans repaid (118) (516) Charge for the year for contingent liabilities 566 105 Release of provision for accrued interest and other assets - (13) 3,685 530 9. INCOME TAXES a) Components of Income Taxes (thousands of €) Year Ended December 31, 2006 2005 Current tax (347) (279) Deferred tax (77) - (424) (279) 16
NOTES TO THE FINANCIAL STATEMENTS December 31, 2006 CRNOGORSKA KOMERCIJALNA BANKA A.D., PODGORICA 9. INCOME TAXES (Continued) b) Numerical Reconciliation Between Tax Expense and The Product of Accounting Results Multiplied by The Applicable Tax Rate (thousands of €) Year Ended December 31, 2006 2005 Profit before tax 4,334 3,304 Income tax (9%) 390 297 Expenses/(income) not deductible for tax purposes 34 (32) 424 265 Overpaid current year income taxes - 14 Current tax 424 279 Deferred tax liabilities at December 31, 2006 in the amount of EUR 77 thousand are associated with the temporary differences arising between the tax bases of property and equipment and the carrying value of such assets. 10. CASH AND BALANCES WITH THE CENTRAL BANK December 31, 2006 (thousands of €) December 31, 2005 Cash in hand 21,735 12,550 Cash in the course of collection 348 258 Cheques in the course of collection 365 332 Giro account 10,411 7,646 Obligatory reserve held with the Central Bank 80,468 22,886 113,327 43,672 The Bank’s obligatory reserves at December 31, 2006 represent the minimum deposits set aside in accordance with the Central Bank of Montenegro Regulation with respect to “The Reserve Requirements for Banks To Be Held with The Central Bank of Montenegro,” (“Official Gazette of the Republic of Montenegro,” no. 14/06 of March 10, 2006). Pursuant to the aforecited, the obligatory reserve is to be calculated by applying the following reserve percentages: - 19% for sight deposits and term deposits having less-than-90-day maturities for the calculation of the reserve requirement; and - 5% for term deposits with more-than-90-day, but less-than-one-year maturities, for the calculation of the reserve requirement. 17
Page 1 and 2: Annual Report Godišnji izvještaj
Page 3 and 4: A n n u a l R e p o r t G o d i š
Page 5 and 6: Contents Sadržaj Income Statement
Page 7 and 8: Balance Sheet Bilans stanja Year en
Page 9 and 10: Uvodna riječ Generalnog direktora
Page 11 and 12: CKB Management CKB Menadžment May,
Page 13 and 14: Always independent Uvijek nezavisni
Page 15 and 16: with 6 million overnight stays and
Page 17 and 18: • support to business development
Page 19 and 20: Old and new banking stories Stare i
Page 21 and 22: New memberships and new legal infra
Page 23 and 24: legal basis for gradual transition
Page 25 and 26: New strategic partnership on the so
Page 28 and 29: 26 26 1997 1998 1999 2000 2001 2002
Page 30 and 31: 28 28
Page 32 and 33: CRNOGORSKA KOMERCIJALNA BANKA A.D.,
Page 34: INDEPENDENT AUDITORS’ REPORT To t
Page 39 and 40: NOTES TO THE FINANCIAL STATEMENTS D
Page 47: NOTES TO THE FINANCIAL STATEMENTS D
Page 69 and 70: Bulevar Ivana Crnojevića 107 Podgo
Page 76 and 77: NAPOMENE UZ FINANSIJSKE IZVJEŠTAJE
Page 98 and 99:
NAPOMENE UZ FINANSIJSKE IZVJEŠTAJE
Page 100 and 101:
Page 102 and 103:
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Revizorski izvjestaj 2006 (pdf) - Montenegro berza

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