SECTION 1 - LOANS › cartellaPDF › parsedPDF › 2000partB.pdf · Loans arising as a result of...

SECTION 1 - LOANS

Analysis of item 10 "Cash and deposits with central banks and post offices"

31/12/2000 31/12/1999

Notes and coins in ITL - - - -Notes and coins in foreign currency - - - - Deposits with post offices 4 100.00% 2 100.00%Other cash equivalents - - - -

Total 4 100.00% 2 100.00%

1.1 - Analysis of item 30 "Due from banks"

31/12/2000 31/12/1999

a) Deposits with central banks 511 64 b) Bills eligible for refinancing with central banks - - c) Repurchase agreements 59,074 - d) Loan of securities - -

The balance reported under letter a) represents the amount deposited with the Bank of Italy for the Compulsory Reserve.

The total balance of amounts due from banks reported in the financial statements under item 30 is analysed below by technical form of lending:

31/12/2000 31/12/1999

Due from the Bank of Italy 511 0.10% 64 0.02%

Due from other banks: 489,543 399,510

a) current accounts 40,301 8.22% 12,256 3.07%- euro 37,809 10,656 - foreign currency 2,492 1,600

b) deposits 390,168 79.62% 387,254 96.92%- euro 390,168 387,254 - foreign currency - -

c) repurchase agreements 59,074 12.05% - -- euro 59,074 - - foreign currency - -

d) other forms of lending - - - -- euro - - - foreign currency - -

Total 490,054 100.00% 399,574 100.00%

PA R T B

I N F O R M A T I O N O N T H E B A L A N C E S H E E T

79

Bancaperta - Rel. 2001 22-10-2001 8:17 Pagina 79

Detail of “Amounts due from banks”

31/12/2000 31/12/1999

Gross Total value Net Gross Total value NetCategories/Values value adjustments value value adjustments value

A. Doubtful loans 4 - 4 - - -

A.1. Non-performing loans - - - - - -

A.2. Problem loans - - - - - -

A.3. Loans beingrestructured - - - - - -

A.4. Restructured loans - - - - - -

A.5. Unsecured loanssubject to country risk 4 - 4 - - -

B. Performing loans 490,050 - 490,050 399,574 - 399,574

Total 490,054 - 490,054 399,574 - 399,574

Analysis of doubtful accounts due from banks

31/12/2000

Non-performing Problem Loans being Restructured Unsecured loansClass/Categories loans loans restructured loanssubject to country risk Total

A. Opening gross value - - - - - -

A.1 including:default interest - - - - - -

B. Increases - - - - 4 4

B.1 transfers fromperforming loans - - - - 4 4

B.2 default interest - - - - - -

B.3 transfers fromother doubtfulloan categories - - - - - -

B.4 otherincreases - - - - - -

C. Decreases - - - - - -

C.1 transfers toperforming loans - - - - - -

C.2 write-offs - - - - - -

C.3 collections - - - - - -

C.4 loans realizedthrough disposals - - - - - -

C.5 transfers toother doubtfulloan categories - - - - - -

C.6 otherdecreases - - - - - -

D. Closing gross value - - - - 4 4

D.1 including:default interest - - - - - -

80


1.2 - Analysis of item 40 "Loans to customers"

31/12/2000 31/12/1999

a) Bills eligible for refinancing with central banks - -

b) Repurchase agreements - -

c) Loan of securities - -

Loans to customers illustrated in the following tables include those classified under asset item 40 and the so-called "implicit loan", in accor-

dance with the results of the application of the financial method to leasing transactions.

31/12/2000 31/12/1999

Current account overdrafts and other facilities 12 0.00% - -

Mortgage loans - - - -

Import – export advances - - - -

Discounted portfolio - - - -

Repurchase agreements - - - -

Personal loans and consumer credit - - - -

Loans arising as a result of financial lease contracts 313,051 96.02% 467,464 98.56%

Non-performing loans 12,978 3.98% 6,838 1.44%

Other - - - -

Total 326,041 100.00% 474,302 100.00%

Detail of "cash loans to customers"

31/12/2000 31/12/1999

Gross Total value Net Gross Total value NetCategories/Values value adjustments value value adjustments value

A. Doubtful loans 30,506 - 16,886 13,620 39,299 - 17,983 21,316

A.1. Non-performing loans 29,448 - 16,470 12,978 23,484 - 16,646 6,838

A.2. Problem loans 1,058 - 416 642 15,815 - 1,337 14,478

A.3. Loans beingrestructured - - - - - -

A.4. Restructured loans - - - - - -

A.5. Unsecured loans subjectto country risk - - - - - -

B. Performing loans 316,880 - 4,459 312,421 457,811 - 4,825 452,986

Total 347,386 - 21,345 326,041 497,110 - 22,808 474,302

81


Analysis of doubtful loans to customers

31/12/2000

Non-performing Problem Loans being Restructured Unsecured loansClass/Categories loans loans restructured loanssubject to country risk Total

A. Opening gross value 23,484 15,815 - - - 39,299

A.1 including:default interest 3,893 376 - - - 4,269

B, Increases 12,285 919 - - - 13,204

B.1 transfer fromperforming loans 2,137 903 - - - 3,040

B.2 default interest 576 16 - - - 592

B.3 transfers from otherdoubtful loancategories 9,572 - - - - 9,572

B.4 otherincreases - - - - - -

C. Decreases - 6,321 - 15,676 - - - - 21,997

C.1 transfer toperforming loans - - 5,674 - - - - 5,674

C.2 write-offs - 3,204 - 296 - - - - 3,500

C.3 collections - 2,447 - 71 - - - - 2,518

C.4 loans realizedthrough disposals - - - - - -

C.5 transfers to otherdoubtful loancategories - - 9,572 - - - - 9,572

C.6 otherdecreases - 670 - 63 - - - - 733

D. Closing gross value 29,448 1,058 - - - 30,506

D.1 including:default interest 3,390 63 - - - 3,453

82


Analysis of total value adjustments on loan to customers

31/12/2000

Non-performing Problem Loans being Restructured Unsecured loans PerformingClass/Categories loans loans restructured loans subject to country risk loans Total

A. Opening balance of totaladjustments 16,646 1,337 - - - 4,825 22,808

A,1 including:default interest 2,141 113 - - - - 2,254

B. Increases 4,021 559 - - - 3 4,583

B.1 value adjustments 3,890 259 - - - 3 4,152

B.1.1 including:default interest 339 15 - - - - 354

B.2 use of reserve forpossible loan losses - - - - - - -

B.3 transfers from otherdoubtful loancategories 131 300 - - - - 431

B.4 otherincreases - - - - - - -

C. Decreases - 4,197 - 1,480 - - - - 369 - 6,046

C.1 writebacks fromvaluations - 581 - - - - - 360 - 941

C.1.1 including:default interest - - - - - - -

C.2 writebacks fromcollections - 155 - 28 - - - - - 183

C.2.1 including:default interest - 62 - 11 - - - - - 73

C.3 write-offs - 3,161 - 1,321 - - - - 9 - 4,491

C.4 transfers to otherdoubtful loan categories - 300 - 131 - - - - - 431

C.5 otherdecreases - - - - - - -

D. Closing balance of totaladjustments 16,470 416 - - - 4,459 21,345

D.1 including:default interest 1,864 19 - - - - 1,883

Estimates of losses on loans to customers took account of the solvency of the borrowers, the general economic trend for similar loan cate-

gories, as well as the difficulties of the countries of residence of the borrowers in servicing their debt.

In particular:

1. non-performing loans and problem loans were valued case-by-case, defining the estimated extent of the loss both in terms of interest

and principal for each position;

2. other loans were subject to general writedowns based on historical-statistical analysis in order to reflect possible future losses which

could emerge during the normal course of lending;

3. loans relating to leasing contracts were valued taking into account the repayments made and the redemption value of the assets being

leased.

83


1.3 - Secured loans to customers

31/12/2000 31/12/1999

a) Loans secured by mortgages 5,630 12,291

b) Loans secured by pledges on: 9,180 10,330

1. cash deposits 4,200 4,200

2. securities 3,453 2,917

3. other assets 1,527 3,213

c) Loans secured by guarantees from: 210,817 502,264

1. Governments - -

2. other public entities - -

3. banks 8,706 13,293

4. other operators 202,111 488,971

Total secured loans 225,627 524,885

Customer loans in the above table include those covered in full by guarantees and the relevant portion of those that are partly covered.

1.4 - Non-performing loans (including default interest)

31/12/2000 31/12/1999

Nominal Book Nominal Bookvalue value value value

Non-performing loans 29,448 12,978 23,632 7,276

including:

- principal 26,058 11,452 19,231 5,295

- interest 3,390 1,526 4,401 1,981

Non-performing loans represent the exposure arising as a result of cash loans to borrowers in a state of insolvency, in relation to which legal

action for their recovery or, in any event, action to eliminate their exposure has been started.

1.5 - Default interest on non-performing loans

31/12/2000 31/12/1999

Nominal Book Nominal Bookvalue value value value

a) Non-performing loans 3,390 1,526 4,401 1,981

b) Other loans 248 229 655 538

84


85

SECTION 2 - SECURITIES

Composition of securities

Own securities are classified in the financial statements as follows:

31/12/2000 31/12/1999

Treasury bills and similar securities eligible forrefinancing with central banks (item 20) 16,351 4,345

Bonds and other debt securities (item 50) 385,371 388,722

Share, quotas and other equities (item 60) - -

Total 401,722 393,067

Of which:

31/12/2000 31/12/1999

a) Investment securities - -

b) Dealing securities 401,722 393,067

2.3 - Dealing securities

The composition of this portfolio and the related changes are shown in the tables below:

31/12/2000 31/12/1999

Book Market Book MarketItem/Value value value value value

1. Debt securities 401,722 401,739 393,067 393,067

1.1 Government securities 399,056 399,056 392,765 392,765

- listed 399,046 399,046 392,765 392,765

- unlisted 10 10 - -

1.2 Other debt securities 2,666 2,683 302 302

- listed 1,278 1,278 19 19

- unlisted 1,388 1,405 283 283

2. Equity-based securities - - - -

- listed - - - -

- unlisted - - - -

Total 401,722 401,739 393,067 393,067

Unrealised gains not reflected in the financial statements

relating to unlisted securities amount to: 17 -


2.4 - Changes during the year in dealing securities

31/12/2000 31/12/1999

A. Opening balance 393,067 338

B. Increases 5,087,860 657,841

B.1 Purchases 5,085,835 657,589

Debt securities 5,061,491 657,589

- Government securities 4,781,413 508,397

- other securities 280,078 149,192

Equity-based securities 24,344 -

B.2 Writebacks 198 64

B.3 Transfers from the investment portfolio - -

B.4 Other increases 1,827 188

C. Decreases - 5,079,205 - 265,112

C.1 Sales - 5,079,169 - 265,054

Debt securities - 5,054,768 - 265,054

- Government securities - 4,776,876 - 116,068

- other securities - 277,892 - 148,986

Equity-based securities - 24,401 -

C.2 Value adjustments - 36 - 58

C.3 Transfers to the investment portfolio - -

C.4 Other decreases - -

D. Closing balance 401,722 393,067

"Other increases" (item B.4) also includes:

31/12/2000 31/12/1999

Gains (losses) arising from dealing in securities 1,793 161

Accrued portion of issue discount 34 3

Other changes - 24

Total B.4 1,827 188

86


87

SECTION 3 – EQUITY INVESTMENTS

3.1 – Significant investments

31/12/2000

Shareholders’ Net profit (loss) BookCompany name – Registered offices equity for the year % held value

A. Subsidiary companies

1 - Aperta Gestioni Patrimoniali S.A. - Lugano (Switzerland) 1,404 131 60% 763

B. Companies subject to significant influence

1 - Crypto S.R.L. - Sondrio 238 210 15% 90

2 - Global Assicurazioni S.p.A. - Milan 3,984 3,791 40% 77

3.2 - Amounts due to and from Group companies

31/12/2000 31/12/1999

a) Assets 487,211 396,807

1. due from banks 487,051 396,807

of which:- subordinated - -

2. due from financial institutions - -


3. due from other customers - -


4. bonds and other debt securities 160 -


b) Liabilities 1,006,461 1,167,029

1. due to banks 567,212 728,583

2. due to financial institutions - -

3. due to other customers - -

4. securities issued 387,254 387,254

5. subordinated liabilities 51,995 51,192

c) Guarantees and commitments 552 -

1. guarantees given - -

2. commitments 552 -


3.3 - Amounts due to and from investments (companies that are not part of the Group)

31/12/2000 31/12/1999

a) Assets - -

1. due from banks - -


2. due from financial institutions - -


3. due from other customers - -


4. bonds and other debt securities - -


b) Liabilities 8,834 -

1. due to banks - -

2. due to financial institutions 8,834 -

3. due to other customers - -

4. securities issued - -

5. subordinated liabilities - -

c) Guarantees and commitments - -

1. guarantees given - -

2. commitments - -

3.4 - Composition of item 70 "Equity investments"

31/12/2000 31/12/1999

a) Investments in banks - -

1. listed - -

2. unlisted - -

b) Investments in financial institutions 77 12

1. listed - -

2. unlisted 77 12

c) Other investments 90 -

1. listed - -

2. unlisted 90 -

Total 167 12

88


89

3.5 - Composition of item 80 "Investments in Group companies"

31/12/2000 31/12/1999

a) Investments in banks - -

1. listed - -

2. unlisted - -

b) Investments in financial institutions 763 -

1. listed - -

2. unlisted 763 -

c) Other investments - -

1. listed - -

2. unlisted - -

Total 763 -

3.6 - Changes during the year in equity investments

3.6.1 Investments in Group companies

31/12/2000 31/12/1999

A. Opening balance - -

B. Increases 763 -

B.1 Purchases 763 -

B.2 Writebacks - -

B.3 Revaluations - -

B.4 Other changes - -

C. Decreases - -

C.1 Sales - -

C.2 Value adjustments - -

including:- permanent writedowns - -

C.3 Other changes - -

D. Closing balance 763 -

E. Total revaluations - -

F. Total adjustments - -


3.6.2 Other investments

31/12/2000 31/12/1999

A. Opening balance 12 -

B. Increases 155 12

B.1 Purchases 155 12

B.2 Writebacks - -

B.3 Revaluations - -

B.4 Other changes - -

C. Decreases - -

C.1 Sales - -

C.2 Value adjustments - -

including:

- permanent writedowns - -

C.3 Other changes - -

D. Closing balance 167 12

E. Total revaluations - -

F. Total adjustments - -

90


91

SECTION 4 – TANGIBLE AND INTANGIBLE FIXED ASSETS

Detail of tangible fixed assets

31/12/2000 31/12/1999

Property - -

Furniture and furnishings 1,400 561

Plant, machinery and equipment 150 108

Computerised information systems 96 26

Leased assets 313,190 458,415

Assets pending lease agreements 4,433 17,969

Assets returning from lease agreements 1,465 1,618

Other - -

Total 320,734 478,697

4.1 - Changes during the year in tangible fixed assets

31/12/2000

AssetsLeased pending leaseassets agreements Other assets Total

A. Opening balance 458,415 17,969 2,313 478,697

B. Increases 26,899 11,143 2,297 40,339

B.1 Purchases 26,700 11,143 1,347 39,190

B.2 Writebacks - - - -

B.3 Revaluations - - - -

B.4 Other changes 199 - 950 1,149

C. Decreases - 172,124 - 24,679 - 1,499 - 198,302

C.1 Sales - 19,470 - - 973 - 20,443

C.2 Value adjustments:

a) depreciation - 151,703 - - 526 - 152,229

b) permanent writedowns - - - -

C.3 Other changes - 951 - 24,679 - - 25,630

D. Closing balance 313,190 4,433 3,111 320,734

E. Total revaluations 82 - 7 89

F. Total adjustments: - 424,418 - - 2,772 - 427,190

a) depreciation - 424,418 - - 2,772 - 427,190



31/12/1999

AssetsLeased pending leaseassets agreements Other assets Total

A. Opening balance 506,990 14,320 6,962 528,272

B. Increases 185,047 22,251 1,276 208,574

B.1 Purchases 183,609 22,251 111 205,971

B.2 Writebacks - - - -

B.3 Revaluations - - - -

B.4 Other changes 1,438 - 1,165 2,603

C. Decreases - 233,622 - 18,602 - 5,925 - 258,149

C.1 Sales - 30,523 - - 5,575 - 36,098

C.2 Value adjustments:

a) depreciation - 201,934 - - 350 - 202,284


C.3 Other changes - 1,165 - 18,602 - - 19,767

D. Closing balance 458,415 17,969 2,313 478,697

E. Total revaluations 82 - 7 89

F. Total adjustments: - 470,148 - - 712 - 470,860

a) depreciation - 470,148 - - 712 - 470,860


Detail of intangible fixed assets

31/12/2000 31/12/1999

Start-up costs - -

Goodwill 7,975 9,114

Software 264 595

Leasehold improvements 441 338

Other - -

Total 8,680 10,047

92


93

4.2 - Changes during the year in intangible fixed assets

31/12/2000

Start-upGoodwill costs Other Total

A, Opening balance 9,114 - 933 10,047

B, Increases - - 580 580

B,1 Purchases - - 580 580 B,2 Writebacks - - - - B,3 Revaluations - - - - B,4 Other changes - - - -

C, Decreases - 1,139 - - 808 - 1,947

C,1 Sales - - - - C,2 Value adjustments:

a) amortization - 1,139 - - 808 - 1,947 b) permanent writedowns - - - -

C,3 Other changes - - - -

D, Closing balance 7,975 - 705 8,680

E, Total revaluations - - - -

F, Total adjustments: - 3,418 - - 2,052 - 5,470

a) amortization - 3,418 - - 2,052 - 5,470b) permanent writedowns - - - -

31/12/1999

Start-upGoodwill costs Other Total

A. Opening balance 10,253 - 1,613 11,866

B. Increases - - 170 170

B.1 Purchases - - 170 170 B.2 Writebacks - - - - B.3 Revaluations - - - - B.4 Other changes - - - -

C. Decreases - 1,139 - - 850 - 1,989

C.1 Sales - - - - C.2 Value adjustments:

a) amortization - 1,139 - - 850 - 1,989 b) permanent writedowns - - - -

C.3 Other changes - - - -

D. Closing balance 9,114 - 933 10,047

E. Total revaluations - - - -

F. Total adjustments: - 2,278 - - 1,844 - 4,122

a) amortization - 2,278 - - 1,844 - 4,122 b) permanent writedowns - - - -

Leased assets also include assets relating to contracts subject to cancellation, for which the Bank has launched procedures for regaining pos-

session of said assets, while assets relating to non-performing customer contracts are included under item 40.

Accumulated depreciation of leased assets has been adjusted to the amount corresponding to that calculated by adopting the so-called

"financial lease method".

In accordance with the provisions contained in Article 10 of Law 72 dated 19 March 1983, the attachments include a schedule of property

owned by the Bank which has been subject to monetary revaluation in the past.


SECTION 5 – OTHER ASSET ITEMS

5.1 – Composition of item 150 "Other assets"

31/12/2000 31/12/1999

Amounts due from tax authorities for advance taxes paid 6,004 3,017

Amounts due from tax authorities for withholdings andtax credits on dividends - 115

Amounts due from tax authorities for withholdings oninterest paid to customers and others 2,756 4,086

Cheques drawn on the bank to be settled - -

Counterparts for securities and couponpayments to be received 207 10

Sundry items chargeable to customers and banks 10 -

Sundry amounts due for invoices receivable 10,437 3,734

Value date differences on portfolio transactions 21,323 25,123

Closing balances on property - -

Equity for Pension Fund - -

Costs and advances pending final allocation - -

Sundry and residual items 3,303 451

Total 44,040 36,536

5.2 - Composition of item 160 "Accrued income and prepayments"

31/12/2000 31/12/1999

Accrued income 16,868 4,315

relating to:

- interest income on securities 4,398 3,350

- interest income on customer mortgage loans - -

- interest and commission on other loans - 75

- interest income and repurchase lending agreements 137 -

- interest on loans and deposits with banks 1,015 37

- interest on hedging transactions 5,721 -

- leasing instalments 676 853

- other transactions 4,921 -

Prepayments 4,292 8,135

relating to:

- leasing commission 3,729 7,310

- insurance policies and other advance payments 563 825

- long-term leasing instalments - -

- other - -

Total 21,160 12,450

94


95

5.3 - Adjustments for accrued income and prepayments

No direct adjustments have been made to asset accounts for accrued income and prepayments.

5.4 Distribution of subordinated assets

31/12/2000 31/12/1999

a) Due from banks - -

b) Loans to customers - -

c) Bonds and other debt securities 58 -


SECTION 6 - PAYABLES

6.1 – Analysis of item 10 "Due to banks"

The item comprises:

31/12/2000 31/12/1999

a) Repurchase agreements 399,223 391,963

b) Loan of securities - -

The overall total of liability item 10 also includes “Other amounts due to banks”, analysed below by technical form:

31/12/2000 31/12/1999

a) current accounts 1,407 0.81% 2,647 0.79%

- euro 1,407 2,647 - foreign currency - -

b) deposits 171,462 99.19% 333,973 99.21%

- euro 162,627 328,000 - foreign currency 8,835 5,973

c) loans - - - -

- euro - - - foreign currency - -

Total 172,869 100.00% 336,620 100.00%

6.2 - Analysis of items 20, 30 and 40 "Amounts due to customers"

Item 20 includes:

31/12/2000 31/12/1999

a) Repurchase agreements 45,693 - b) Loan of securities - -

The composition of funding by technical form is as follows.

31/12/2000 31/12/1999

Due to customers: 103,860 21.15% 29,685 7.02%

for current accounts 56,798 26,703 for savings deposits 1,369 2,982 for repurchase and other agreements 45,693 -

Securities issued: 387,254 78.85% 393,254 92.98%

bonds issued by the Bank 387,254 393,254 certificates of deposit - - other securities - -

Public funds administered - - - -

Total 491,114 100.00% 422,939 100.00%

96


SECTION 7 - RESERVES

The following are included under this heading: provision for termination indemnities, reserves for risks and charges and the reserve for pos-

sible loan losses, reported under liability item 70, 80 and 90 respectively.

Provision for termination indemnities (item 70)

Changes in this reserve during the year were as follows:

31/12/2000 31/12/1999

Opening balance 1,123 1,942

Decreases: - 8 - 1,102

- Payments for pensions, leavers and advances - 8 - 86

- Payments following the sale of business unit - - 1,016

Increases: 314 282

- Provisions made during the year 314 218

- Other - 64

Closing balance 1,429 1,122

7.1 - Composition of item 90 "Reserve for possible loan losses"

The reserve, set aside to cover merely potential loan losses, includes:

31/12/2000 31/12/1999

Principal portion - - Portion of default interest deemed recoverable 1,754 2,218

Total 1,754 2,218

7.2 - Changes during the year in the “Reserve for possible loan losses" (item 90)

31/12/2000 31/12/1999

A. Opening balance 2,218 2,518

B. Increases: 249 416

B1. Provisions 249 416 B2. Other changes - -

C. Decreases: - 713 - 716

C1. Utilizations - 713 - 716 C2. Other changes - -

D. Closing balance 1,754 2,218

97


Composition of item 80 "Reserves for risks and charges"

31/12/2000

Decreases Increases

31/12/1999 Utilization Other Provisions Other 31/12/2000

a) Staff pension fund

- funded scheme forstaff on the payroll - - - - - -

- pension fundfor retired staff - - - - - -

b) Provision for taxation 7,457 - 6,687 - 178 6,000 - 6,592

c) Other:

- for future staff-related charges - - - - - -

- for losses onimplicit loans 5,907 - 775 - 2,026 696 - 3,802

- for legal disputes andclaims from liquidators - - - - - -

- for guarantees givenand commitments - - - - - -

- for sundry risksand liabilities - - - - - -

Total 13,364 - 7,462 - 2,204 6,696 - 10,394

31/12/1999

Decreases Increases

31/12/1998 Utilization Other Provisions Other 31/12/1999

a) Staff pension fund

- funded scheme forstaff on the payroll - - - - - -

- pension fundfor retired staff - - - - - -

b) Provision for taxation 3,069 - 2,980 - 7,369 - 7,458

c) Other:

- for future staff-charges - - - - - -

- for losses onimplicit loans 6,991 - 1,074 - 349 339 - 5,907

- for legal disputes andclaims from liquidators - - - - - -

- for guarantees givenand commitments - - - - - -

- for sundry risksand liabilities - - - - - -

Total 10,060 - 4,054 - 349 7,708 - 13,365

98


Sub-item 80 b) Provision for taxation

The provisions are set aside to cover taxes not yet paid on profit for the year (IRPEG – corporate income tax and IRAP – regional tax on busi-

ness activities).

Deferred taxation

Criteria adopted for recognising (excluding) deferred tax assets and liabilities

The income statement liability method was adopted as the criteria for recognition, as established by the Instruction dated 3 August 1999

issued by the Governor of the Bank of Italy.

Assets arising from prepaid taxes are shown under assets item 130 “Other assets”, to the extent that there is a reasonable certainty that they

can be recovered, due regard being given to the timing associated with them. In particular, deductible timing differences whose period of

reversal falls within the end of 2004 have been taken into consideration.

The liabilities for deferred taxes reported under liabilities item 80b) “Provisions for taxation”, represent the tax liability corresponding to all

the timing differences taxable at the end of the year.

Had the Bank adopted the balance sheet liability method, there would have been no differences with regard to the situation shown below.

Main deductible timing differences - IRPEG

31/12/2000 31/12/1999

Entertaining costs 60 53

Provisions for claims by liquidators - -

Loan losses 6,975 9,438

Other 494 219

Total 7,529 9,710

Main taxable timing differences - IRPEG

31/12/2000 31/12/1999

Gains realized 1,231 2,002

Other - -

Total 1,231 2,002

Main deductible timing differences - IRAP

31/12/2000 31/12/1999

Entertaining costs 60 53

Provisions for claims by liquidators - -

Loan losses 6,975 9,438

Other 84 73

Total 7,119 9,564

99


Main taxable timing differences - IRAP

31/12/2000 31/12/1999

Gains realized 1,231 2,002

Other - -

Total 1,231 2,002

Average tax rates applied

31/12/2000

IRPEG (corporate income tax) on average deductible differences for the years 2001 - 2004 30.00%

IRPEG (corporate income tax) on average taxable differences for the years 2001 - 2004 30.00%

IRAP (regional tax on business activities) 2001 5.00%

IRAP (regional tax on business activities) 2002 4.75%

IRAP years 2003 and 2004 4.25%

The average rate applied for the purposes of IRPEG has changed with respect to the previous year following the amendments introduced by

Law 388 dated 23 December 2000 and also as a result of the effect of applying Dual Income Tax to banks as well as from 2000 onwards.

Assets for prepaid taxes included under item 130 "Other assets" with a matching balance in the income statement

31/12/2000 31/12/1999

1. Opening balance 4,059 -

2. Increases 178 5,198

2.1 Prepaid taxes arising during the year 178 109 2.2 Other increases - 5,089

3. Decreases - 1,684 - 1,139

3.1 Prepaid taxes cancelled during the year - 1,024 - 1,139 3.2 Other decreases - 660 -

4. Closing balance (*) 2,553 4,059

(*) Excludes assets for prepaid taxes that derive from tax losses carried forward

100


Liabilities for deferred taxes included under item 80 b) "Provision for taxation" with a matching balance in the incomestatement

31/12/2000 31/12/1999

1. Opening balance 843 -

2. Increases 62 1,325

2.1 Deferred taxes arising during the year 62 305

2.2 Other increases - 1,020

3. Decreases - 483 - 482

3.1 Deferred taxes cancelled during the year - 358 - 482

3.2 Other decreases - 125 -

4. Closing balance 422 843

Liabilities for deferred taxes not included under item 80 b) in that they relate to items for which the deferral of the taxliability is dependent on the recording of specific provisions which will supplement reserves subject to deferred taxation(Default interest deemed recovered recorded under liability item 90)

31/12/2000 31/12/1999

1. Opening balance 177 225

2. Increases - -

3. Decreases - 71 - 48

4. Closing balance 106 177

7.3 - Composition of sub-item 80 c) "Reserves for risks and charges: other"

The total of item 80 c) "other" includes:

- the provision for losses on loans implicit in leasing contracts which refers to the amount set aside for the risks calculated on loans impli-

cit in financial lease contracts. Estimated losses were calculated using the same criteria used for those relating to explicit loans illustra-

ted in the analysis of item 40; consideration was also taken of the redemption value of the assets subject to financial lease.

101


SECTION 8 – SHARE CAPITAL, EQUITY RESERVES, THE RESERVE FOR GENERAL BANKING RISKSAND SUBORDINATED LIABILITIES

Shareholders’ equity

Shareholders’ equity comprises:

31/12/2000 31/12/1999

item 100 Reserve for general banking risks 12,500 10,900

item 120 Share capital 90,617 50,000

item 130 Share premium reserve - -

item 140 Reserves:

a) legal reserve 811 389

b) reserve for own shares - -

c) statutory reserves 1,383 -

d) other reserves - -

- Reserve (Law 335 of 8.8.1995) - -

- Reserve (Law 218 of 30.7.1990) - -

- Reserve (Law 461 of 23.12.1998) - -

- Other - -

item 150 Revaluation reserves - -

item 160 Retained earnings (accumulated losses) - -

item 170 Net profit for the year 7,106 5,922

Total 112,417 67,211

Changes in shareholders’ equity accounts are illustrated below.

Reserve for general banking risks

This reserve totals ITL 12,500 million, following the increase of ITL 1,600 million during the year.

Share capital

The share capital increased by ITL 40,000 million as a result of the exercise of the residual warrants by shareholders. Furthermore, steps were

taken to carry out a bonus share capital increase to ITL 90,617,436,000 by means of the use of part of the extraordinary reserve, and re-denomi-

nate said capital in Euro.

The share capital comprises 2,340,000 shares with a par value of Euro 20 each.

102


Legal reserve

The increase reflects the allocation of a portion of 1999 net profit, ITL 422 million, as authorised at the shareholders’ meeting held on 25

March 2000.

Statutory reserves

The reserve was formed by means of the allocation of a portion of 1999 net profit, ITL 2,000 million, in accordance with the resolutions

adopted by the shareholders’ meeting held on 25 March 2000. By means of the resolution dated 1 June 2000, a portion equating to ITL

617,436,000 was used for the bonus share capital increase.

Capital and other prudent requirements for supervisory purposes as of 31 December 2000

Category/Value 31/12/2000 31/12/1999

A. Capital for supervisory purposes

A.1 Tier 1 capital 98,239 53,665

A.2 Tier 2 capital 25,754 29,050

A.3 Elements to be deducted 78 12

A.4 Capital for supervisory purposes 123,915 82,703

B. Other prudent requirements for supervisory purposes

B.1 Lending risk 27,358 34,898

B.2 Market risk 1,759 1,347

including

- risk on dealing portfolio 1,192 873

- exchange risks 567 474

B.3 Other prudent requirements for supervisory purposes - -

B.4 Total prudent requirements 29,117 36,245

C. Risk assets and capital ratios

C.1 Risk-weighted assets (*) 415,961 517,781

C.2 Tier 1 capital/Risk-weighted assets 23.62% 10.36%

C.3 Capital for supervisory purposes/Risk-weighted assets 29.79% 15.97%

Note (*): Total prudent requirements multiplied by the reciprocal of the compulsory minimum capital ratio for lending risk.

The compulsory minimum capital ratio for banks belonging to banking groups is 7%.

Subordinated liabilities (liability item 110)

This balance represents the overall nominal value of the subordinated "Bancaperta floating rate 1997-2003 subordinated" bond, comprising 3,000

bonds of ITL 20 million each, with six-monthly floating rate coupons maturing 1 January – 1 July each year. The loan, issued at par, will be repaid

in a single solution on 1° January 2003, and presents the requirements for being included within additional capital for supervisory purposes.

103


Statement of changes in shareholders’ equity

Share Share premium Legal Reserve for Statutory Retained earningscapital reserve reserve own shares reserves (acc. losses)

31 December 1999 50,000 - 389 - - -

Allocation of net profit:

- provision (LegislativeDecree 153 of 17.5.1999) - - - - - -

- allocation to other reserves - - 422 - 2,000 -

- charity - - - - - -

- dividends paid - - - - - -

- coverage of losses - - - - - -

Share capital increase:

- bonus - - - - - -

- for conversionof bonds 40,000 - - - - -

- for conversionof subordinated loan - - - - - -

- against payment - - - - - -

Decreases in capital:

- coverage of losses - - - - - -

- repayment to shareholders - - - - - -

Other changes:

- dividends paidon profit being earned - - - - - -

- changes withliability reserves - - - - - -

- negativedifferences - - - - - -

- movements between reserves - - - - - -

- other changes 617 - - - - 617 -

- provision to reservefor general banking risks - - - - - -

- provision to reserve(Law 335 of 8.8.1995) - - - - - -

Net profit - - - - - -

31 December 2000 90,617 - 811 - 1.383 -

104



Reserve for ge- Other Revaluation Net profit Total share-neral banking risks reserves reserves (loss) holders’ equity

31 December 1999 10,900 - - 5,922 67,211


- provision (LegislativeDecree 153 of 17.5.1999) - - - - -

- allocation to other reserves - - - - 2,422 -

- charity - - - - -

- dividends paid - - - - 3,500 - 3,500

- coverage of losses - - - - -

Share capital increase: - - - - -

- bonus - - - - -

- for conversionof bonds - - - - 40,000

- for conversionof subordinated loan - - - - -

- against payment - - - - -

Decreases in capital: - - - - -

- coverage of losses - - - - -

- repayments to shareholders - - - - -

Other changes: - - - - -

- dividends paid onprofit being earned - - - - -

- changes withliability reserves - - - - -

- negativedifferences - - - - -

- movements between reserves - - - - -

- other changes - - - - -

- provisions to reservefor general banking risks 1,600 - - - 1,600

- provision to Reserve(Law 335 of 8.8.1995) - - - - -

Net profit - - - 7,106 7,106

31 December 2000 12,500 - - 7,106 112,417

105



Share Share premium Legal Reserve for Statutory Retained earningscapital reserve reserve own shares reserves (acc. losses)

31 December 1998 50,000 188


- provision (LegislativeDecree 153 of 17.5.1999)

- allocation to other reserves 201

- charity

- dividends paid

- coverage of losses

capital increase:

- bonus

- for conversionof bonds

- for conversionof subordinated loan

- against payment


- coverage of losses

- repayment to shareholders

Other changes:

- dividends paidon profit being earned

- changes withliability reserves

- negativedifferences

- movements between reserves

- other changes

- provision to reservefor general banking risks

- provision to reserve(Law 335 of 8.8.1995)

Net profit

31 December 1999 50,000 - 389 - - -

106



Reserve for ge- Other Revaluation Net profit Total share-neral banking risks reserves reserves (loss) holders’ equity

31 December 1998 900 3,626 54,714


- provision (LegislativeDecree 153 of 17.5.1999) -

- allocation to other reserves - 201 -

- charity -

- dividends paid - 3,425 - 3,425

- coverage of losses -

Share capital increase:

- bonus -

- for conversionof bonds -

- for conversionof subordinated loan -

- against payment -


- coverage of losses -

- repayments to shareholders -

Other changes:

- dividends paid onprofit being earned -

- changes withliability reserves -

- negativedifferences -

- movements between reserves -

- other changes -

- provisions to reservefor general banking risks 10,000 10,000

- provision to Reserve(Law 335 of 8.8.1995)

Net profit 5,922 5,922

31 December 1999 10,900 - - 5,922 67,211

107


SECTION 9 – OTHER LIABILITIES

9.1 – Composition of item 50 "Other liabilities

31/12/2000 31/12/1999

Amounts due to tax authorities 2,508 5,345

Amounts due to social security and welfare institutions 340 362

Amounts to be paid into pension funds 190 -

Sundry items to be credited to customers and banks 554 170

Sundry suppliers and invoices to be received 15,001 14,029

Amounts available to customers 1,434 14,397

Amounts payable to employees 339 338

Value date spreads on “third party” portfolio transactions - -

Contra-entry of writedowns on off-balance sheet transactions - -

Sundry and residual items 4,555 2,689

Total 24,921 37,330

9.2 - Composition of item 60 "Accrued expenses and deferred income"

31/12/2000 31/12/1999

Accrued expenses 19,565 4,437

comprising:

- interest expense on certificates of deposit - -

- interest expense and charges on repurchase agreements 1,116 37

- interest expense on bonds 6,675 959

- interest expense on loans and deposits from banks 834 2,997

- other expenses 10,940 444

Deferred income 10,289 14,973

comprising:

- leasing instalments 10,289 14,973

- interest on portfolios - -

- commission on endorsement credits - -

- other income - -

Total 29,854 19,410

9.3 - Adjustments to accrued expenses and deferred income

No adjustments were made directly to balance sheet items relating to accrued expenses and deferred income.

108


SECTION 10 – GUARANTEES AND COMMITMENTS

10.2 - Composition of item 20 "Commitments"

31/12/2000 31/12/1999

a) commitments to grant finance (certain to be called on) 11,833 868

b) commitments to grant finance (not certain to be called on) 46 30

1. commitments to retired staff - -

2. other 46 30

Total 11,879 898

10.3 - Assets lodged to guarantee the Bank’s liabilities

Assets lodged to guarantee the Bank’s liabilities are represented by Government and other securities, as follows:

31/12/2000 31/12/1999

Purpose of asset lodged at nominal value Nominal value Nominal value

- guarantee for deferred payments and advances from the Bank of Italy - -

- collateral against the issue of bankers’ drafts - -

- collateral for cash management services - -

- collateral for trading transactions on the M.I.F. (Italian Futures Market) - -

- guarantees for other transactions - -

- against borrowing repurchase agreements 381,366 387,254

Total 381,366 387,254

10.4 - Undrawn lines of credit

31/12/2000 31/12/1999

Undrawn Credit Undrawn Creditportion received portion received

a) with central banks - - - -

b) with other banks - - - -

Total - - - -

The Bank avails of the Parent Bank, Credito Valtellinese, for the procurement of the necessary funding.

109


10.5 – Forward transactions

31/12/2000 31/12/1999

Type of transactions Hedging Dealing Other Hedging Dealing Other

1. Purchase/sale of1.1 Securities

- purchases - 11,833 - - 868 - - sales - 11,573 - - 472 -

1.2 Currency- currency against currency - - - - - - - purchases against Euro - 540 - - 406 - - sales against Euro - 466 - - 400 -

2. Deposits and loans- to be made - - - - - - - to be received - - - - - -

3. Derivative contracts

3.1 With exchange of capitala) securities

- purchases - - - - - - - sales - - - - - -

b) currency- currency against

currency - - - - - - - purchases against

Euro - - - - - - - sales against

Euro - - - - - - c) other instruments

- purchases - - - - - - - sales - - - - - -

3.2 Without exchangeof capital

a) currency- currency against

currency - - - - - - - purchases against

Euro - - - - - - - sales against

Euro - - - - - b) other instruments

- purchases 387,254 308,039 - - - - - sales 392,254 308,043 - 5,000 - -

10.6 – Derivative contracts on loans

31/12/2000 31/12/1999

Type of transactions Dealing Other Dealing Other

1. Purchases of protection

1.1 with exchange of capital - - - - 1.2 without exchange of capital - - - -

2. Sales of protection

2.1 with exchange of capital - - - - 2.2 without exchange of capital - - - -

110


SECTION 11 – CONCENTRATION AND DISTRIBUTION OF ASSETS AND LIABILITIES

11.1 – Significant exposures

31/12/2000 31/12/1999

a) Amount 13,437 10,933

b) Number 1 1

In the following table, financial lease transactions are shown among loans to customers in accordance with the results of the "financial

method".

11.2 - Distribution of loans to customers, by category

31/12/2000 31/12/1999

a) Governments - -

b) other public entities 5 0.00% 59 0.01%

c) non-financial businesses 281,621 85.38% 386,759 81.54%

d) financial institutions 7,707 2.34% 8,603 1.81%

e) personal businesses 35,408 10.73% 68,542 14.45%

f) other operators 5,101 1.55% 10,339 2.18%

Total 329,842 100.00% 474,302 100.00%

11.3 - Distribution of loans to resident non-financial and personal businesses

31/12/2000 31/12/1999

a) Other services for sale 61,021 19.41% 90,821 20.07%

b) Textiles, leather and footwear, apparel 47,685 15.16% 71,819 15.87%

c) Commerce, salvage and repairs 45,579 14.50% 48,266 10.67%

d) Building and public works 28,564 9.08% 45,760 10.11%

e) Metal products excluding machines and means of transport 26,664 8.48% 38,646 8.54%

f) Other 104,930 33.37% 157,162 34.73%

Total 314,443 100.00% 452,474 100.00%

111


11.5 - Geographic distribution of assets and liabilities

31/12/2000

Other EU OtherItem/countries Italy countries countries

1. Assets 1,215,603 1,172 4,843

1.1 Due from banks 487,562 995 1,497

1.2 Loans to customers 327,243 - 2,599

1.3 Securities 400,798 177 747

2. Liabilities 1,123,206 - -

2.1 Due to banks 572,092 - -

2.2 Due to customers 103,860 - -

2.3 Securities issued 387,254 - -

2.4 Other accounts 60,000 - -

3. Guarantees and commitments 11,474 405 -

31/12/1999

Other EU OtherItem/countries Italy countries countries

1. Assets 1,261,199 1,584 4,161

1.1 Due from banks 396,871 1,565 1,138

1.2 Loans to customers 471,476 - 2,827

1.3 Securities 392,852 19 196

2. Liabilities 1,211,521 - -

2.1 Due to banks 728,583 - -

2.2 Due to customers 29,684 - -

2.3 Securities issued 393,254 - -

2.4 Other accounts 60,000 - -

3. Guarantees and commitments 898 - -

112


11.6 - Maturities of assets and liabilities

31/12/1999

Specified duration Un-Between 3 and specified

On demand Up to 3 months 12 months Between 1 and 5 years Beyond 5 years duration

Fixed rate Indexed rate Fixed rate Indexed rate

1. Assets 41,491 480,465 40,056 29,375 1,060,447 24,675 269,189 16,792

1.1 Treasury bills eligiblefor refinancing 172 1,694 1,501 1,641 9,590 117 1,635 -

1.2 Due from banks 40,301 443,497 5,745 - - - - 511 1.3 Loans to customers 1,018 1,048 22,174 27,230 147,714 6,948 107,429 16,281 1.4 Bonds and other

debt securities - 50 195 118 225,053 12 159,944 - 1.5 Off-balance sheet

transactions - 34,176 10,441 386 678,090 17,598 181 -

2. Liabilities 60,574 1,166,346 104,152 67,386 447,876 17,602 142 -

2.1 Due to banks 2,407 413,940 93,745 62,000 - - - - 2.2 Due to customers 58,167 45,693 - - - - - - 2.3 Securities

issued:- bonds - - - - 387,254 - - - - certificates of deposit - - - - - - - - - other securities - - - - - - - -

2.4 Subordinated liabilities - - - - 60,000 - - - 2.5 Off-balance sheet

transactions - 706,713 10,407 5,386 622 17,602 142 -

31/12/1999

Specified duration Un-Between 3 and specified

On demand Up to 3 months 12 months Between 1 and 5 years Beyond 5 years duration

Fixed rate Indexed rate Fixed rate Indexed rate

1. Assets 400,512 3,198 23,209 78,493 218,826 7,334 519,646 22,066

1.1 Treasury bills eligiblefor refinancing 108 267 518 1,535 1,452 117 349 -

1.2 Due from banks 399,510 - - - - - - 64 1.3 Loans to customers 894 1,591 22,691 76,958 212,267 7,217 130,682 22,002 1.4 Bonds and other

debt securities - - - - 107 - 388,615 - 1.5 Off-balance sheet

transactions - 1,340 - - 5,000 - - -

2. Liabilities 52,331 421,276 142,000 150,000 65,000 - 387,254 -

2.1 Due to banks 22,647 417,936 138,000 150,000 - - - - 2.2 Due to customers 29,684 - - - - - - - 2.3 Securities

issued- bonds - 2,000 4,000 - - - 387,254 - - certificates of deposit - - - - - - - - - other securities - - - - - - - -

2.4 Subordinated liabilities - - - - 60,000 - - - 2.5 Off-balance sheet

transactions - 1,340 - - 5,000 - - -

113


11.7 - Assets and liabilities denominated in foreign currencies

31/12/2000 31/12/1999

a) assets 2,810 1,600

1. due from banks 1,985 1,600 2. loans to customers - - 3. securities 62 - 4. equity investments 763 - 5. other accounts - -

b) liabilities 9,019 7,110

1. due to banks 8,835 5,973 2. due to customers 184 1,137 3. securities issued - - 4. other accounts - -

SECTION 12 – ADMINISTRATION AND TRADING ON BEHALF OF THIRD PARTIES

12.1 - Trading in securities

No trading transactions on securities were entered into on behalf of third parties during 2000 or the previous year.

12.2 - Portfolio management

31/12/2000 31/12/1999

Assets managed on behalf of customers, entirely invested in securities: 5,000,054 157,571

1. securities issued by the reporting bank - - 2. other securities 5,000,054 157,571

The amount of liquidity included among assets managed on behalf of third parties totalled ITL 89,567 million.

The total of assets managed under authority from other Banks in the Group came to ITL 4,851,974 million, including liquidity of ITL 77,817 million.

12.3 - Custody and administration of securities

31/12/2000 31/12/1999

a) third-party securities held on deposit (excludingportfolio management) 3,921,800 487,404

1. securities issued by the reporting bank 46,894 453,254 2. other securities 3,874,906 34,150

b) third-party securities deposited with third parties(excluding portfolio management) 3,862,740 120,510

c) portfolio securities deposited with third parties 19,972 4,705

The items above are stated at their nominal value.

114


SECTION 1 - LOANS › cartellaPDF › parsedPDF › 2000partB.pdf · Loans arising as a result of...

Documents

Transcript of SECTION 1 - LOANS › cartellaPDF › parsedPDF › 2000partB.pdf · Loans arising as a result of...