Financial statements 2008

Transcription

1 Financial statements 2008

2 Banca di Cividale S.p.A. financial highlights and balance sheet ratios RECLASSIFIED BALANCE SHEET ASSETS 31/12/2008 COMP % 31/12/2007 COMP % CHANGE % Cash and cash equivalents ,56% ,55% 26,35% Financial assets held for trading ,97% ,63% -61,53% Financial assets available for sale ,55% ,93% 645,27% Loans to banks ,11% ,52% 176,18% Loans to customers ,69% ,66% 9,73% Hedging derivatives ,07% ,09% -7,26% Equity investments - 0,00% ,01% -100,00% Property plant and equipment and intangible assets ,60% ,00% -0,42% Other assets ,44% ,62% 10,66% Total as s e ts ,00% ,00% 24,49% LIABILITIES 31/12/2008 COM P % 31/12/2007 COM P % CHANGE % Due to banks ,65% ,63% 77,01% Direct f unding f rom customers ,13% ,90% 17,78% Financial liabilities held for trading ,06% ,13% -44,46% Hedging derivatives ,09% ,23% -51,72% Other liabilities ,90% ,74% -13,83% Specific provisions ,23% ,35% -19,05% Shareholders' equity ,94% ,02% -1,30% Total liabilitie s ,00% ,00% 24,49% RECLASSIFIED INCOM E STATEM ENT 31/12/ /12/2007 CHANGE % Net interest income (including result of hedging) ,94% Dividends and net income (loss) of equity investments accounted f or using equity method ,18% FINANCIAL INCOM E ,26% Net commissions ,98% Other operating income (net of recovered expenses) ,61% Net income (loss) f rom trading ( ) ,56% Gains (losses) from purchase/sale of loans and financial assets ,66% Net result of fair value measurement of financial assets - - 0,00% OPERATING REVENUES ,01% Staff costs (net of recovered expenses) ( ) ( ) 9,63% Other administrative expenses (net of recovered expenses) ( ) ( ) 4,21% V alue adjustments of property, plant and equipment and intangible assets (excluding goodw ill) ( ) ( ) 9,77% OPERATING EXPENSES ( ) ( ) -7,09% OPERATING INCOM E ,15% A djustments of goodw ill Net adjustments of loans ( ) ( ) 21,23% Net adjustments of other assets ( ) (9.447) 2732,53% Net provisions ( ) ( ) 71,07% Net result of fair value measurement of property, plant and Gains (losses) on disposal of investments - (41.041) -100,00% INCOM E (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS ,40% Income tax f or the period on continuing operations ( ) ( ) 20,55% INCOM E (LOSS) AFTER TAX FROM CONTINUING OPERATIONS ,56% Income (loss) after tax f rom non-current assets being divested NET INCOM E FOR THE PERIOD ,56%

3 BALANCE SHEET RATIOS 31/12/ /12/2007 Indirect f unding f rom customers / Total f unding 40,96% 48,26% A ssets under management / Indirect f unding f rom customers 39,75% 45,94% Direct f unding f rom customers / Total liabilities 66,13% 69,90% Loans to customers / Direct f unding f rom customers 100,85% 108,24% Loans to customers / Total assets 66,69% 75,66% CREDIT RISK INDICATORS (thous ands of e uros ) 31/12/ /12/2007 Net bad debts Other net impaired loans (excluding overdraf ts) Other net impaired loans (total) Net impaired loans / Loans to customers 1,90% 1,57% Other net impaired loans (excluding overdraf t) / Loans to customers 1,88% 1,45% Other net impaired loans (total) / Loans to customers 3,12% 3,16% BALANCE SHEET DATA (e uros ) 31/12/ /12/2007 CHANGE % Financial assets held f or trading ,53% Financial assets available for sale ,27% Loans to banks ,18% Loans to customers ,73% Hedging derivatives ,26% Equity investments ,00% Total assets ,49% Due to banks ,01% Due to customers ,12% Securities issued ,85% Financial liabilities held for trading ,46% Hedging derivatives ,72% Shareholders' equity ,30% Total indirect funding ,40% Assets under management ,21%

4 Financial statements Balance sheet Balance sheet - Assets 31/12/ /12/2007 Var.% 10 Cash and cash equivalents ,35% 20 Financial assets held for trading ,53% 30 Financial assets recognised at fair value Financial assets available for sale ,27% 50 Financial assets held to maturity Loans to banks ,18% 70 Loans to customers ,73% 80 Hedging derivatives ,26% V alue adjustments of f inancial assets hedged 90 generically (+/-) Equity investments ,00% 110 Property, plant and equipment ,27% 120 Intangible assets ,40% of w hich: - - goodw ill Tax assets ,89% a) current b) deferred Other assets ,11% Total assets ,49% Balance sheet - liabilities and share holders' e quity 31/12/ /12/2007 Var.% 10 Due to banks ,01% 20 Due to customers ,12% 30 Securities issued ,85% 40 Financial liabilities held for trading ,46% 50 Financial liabilities recognised at fair value Hedging derivatives ,72% Value adjustments of financial liabilities hedged 70 generically (+/-) Tax liabilities ,23% a) current b) deferred Liabilities in respect of groups of assets being divested Other liabilities ,99% 110 Employee severance benefits ,28% 120 Provisions ,78% a) pensions and similar commitments b) other provisions Valuation reserves ,23% 140 Redeemable shares Equity instruments Reserves ,77% 170 Share premium reserve ,00% 180 Share capital ,00% 190 Treasury stock (-) Net income (loss) for the period (+/-) ,56% Total liabilities and shareholders ' equity ,49%

5 Income statement Incom e statem ent 31/12/ /12/2007 Var.% 10 Interest income and similar revenues ,56% 20 Interest expense and similar charges ( ) ( ) 33,76% 30 Net interest incom e ,13% 40 Commission income ,84% 50 Commission expense ( ) ( ) -31,95% 60 Net com m ission incom e ,98% 70 Dividends and similar revenues ,18% 80 Net gain (loss) on trading activities ( ) ,56% 90 Net gain (loss) on hedging activities ( ) (11.082) 6241,43% 100 Gains (losses) on disposal or repurchase of: ,66% a) loans - - b) financial assets available for sale ( ) c) financial assets held to maturity - - d) financial liabilities Net adjustments of financial assets and liabilities 110 recognised at fair value Gross incom e ,58% 130 Net impairment adjustments of: ( ) ( ) 22,93% a) loans ( ) ( ) 21,23% b) financial assets available for sale ( ) (23.726) 1054,79% c) financial assets held to maturity d) other financial transactions Financial incom e (expense), net ,71% 150 Administrative expenses: ( ) ( ) 6,47% a) staff costs ( ) ( ) 9,63% b) other administrative expenses ( ) ( ) 3,57% 160 Net provisions ( ) ( ) 71,07% 170 Net adjustments of property, plant and equipment ( ) ( ) 10,06% 180 Net adjustments of intangible assets ( ) ( ) 9,21% 190 Other operating revenues (expenses) ,08% 200 Operating expenses ( ) ( ) 12,85% 210 Gains (losses) on equity investments Net adjustment to fair value of property, plant and equipment and intangible assets Value adjustments of goodw ill Gains (losses) on disposal of investments - (41.041) -100,00% 250 Incom e (loss) before tax from continuing operations ,40% 260 Income tax for the period on continuing operations ( ) ( ) -20,55% 270 Incom e (loss) after tax on continuing operations ,56% Income (loss) after tax from non-current assets being 280 divested Net incom e for the period ,56%

6 CASH FLOW STATEMENT BANCA DI CIVIDALE SPA OPERATING ACTIVITY 31/12/ /12/ Operations interes t incom e received (+) interes t expens e paid (-) ( ) ( ) - dividends and sim ilar revenues net com m is s ions (+/-) staff costs ( ) ( ) - other expenses (-) ( ) ( ) - other revenues (+) taxes and duties (-) - ( ) 2. Liquidity generated/absorbed by financial assets: (+/-) financial as s ets held for trading financial assets recognised at fair value financial assets available for sale ( ) ( ) - loans to custum ers ( ) ( ) - loans to bank ( ) ( ) - other as s ets ( ) Liquidity generated/absorbed by financial liabilities: (+/-) due to banks due to cus tom ers s ecurities is s ued financial liabilities held for trading ( ) ( ) - financial liabilities recognized at fair value other liabilities ( ) ( ) Net liquidity generated/absorbed by operating activity A (+/-) INVESTING ACTIVITY 1. Liquidity generated by: (+) disposal of equity investm ents dividends received on equity inves tm ents disposal of financial assets held to m aturity disposal of property, plant and equipm ent disposal of intangible assets disposal of subsidiaries and busines s units Liquidity absorbed by: (-) purchase of equity investm ents purchase of financial assets held to m aturity purchase of property, plant and equipm ent ( ) ( ) - purchas e of intangible as s ets ( ) ( ) - purchas e of s ubs idiaries and bus ines s units - - Net liquidity generated/absorbed by investing activity B (+/-) FUNDING ACTIVITY - issue/purchase of own shares issue/purchase of capital instrum ents dis tribution of dividends and other us es ( ) ( ) Net liquidity generated/absorbed by funding activity C (+/-) NET LIQUIDITY GENERATED/ABSORBED DURING THE PERIOD D = A +/- B +/- C RECONCILIATION Voci d bilancio Cash and cash equivalents at the s tart of the period E Total net liquidity generated/abs orbed during the period D Cas h and cas h equivalents : effect of exchange rate changes F 0 0 Cash and cash equivalents at the end of the period G = E +/-D+/-F

7 STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (2008) A llocazione risultato for previous year 2008 Balance at 01/01/2008 V ariazioni dell esercizio Equity transactions Reserves Dividends and other allocations Changes in reserves New share issues Purchases of own shares Special dividend distribution Changes in equity instruments Derivatives on own shares Stock options Net income (loss) for the period Shareholders' equity at 31/12/2008 Share capital a) ordinary shares b) other shares Share pre m ium re s e rve Re s e rve s a) income b) other Valuation re s e rve s : (2.746) a) available for sale (2.746) (1.077) b) cash f low hedging c) other (*) Equity ins trum e nts Treasury stock a) of Parent Company b) of subsidiaries Ne t incom e (los s ) for the pe riod (1.374) (9.656) Share holde rs ' e quity (9.656) (2.746) (*)Amount refers to valuation reserves of property, plant and equipment.

8 STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (2007) Allocation of net income Changes for the year f or previous year Equity transactions 2007 Balance at 01/01/2007 Reserves Dividends and other allocations Changes in reserves New share issues Purchases of own shares Special dividend distribution Changes in equity instruments Derivatives on own shares Stock options Net income (loss) for the period Shareholders' equity at 31/12/2007 Share capital a) ordinary shares b) other shares Share pre m ium re s e rve Re s e rve s : a) income b) other Valuation re s e rve s : a) available for sale b) cash flow hedges c) other (*) Equity ins trum e nts Treasury stock: a) of Parent Company b) of subsidiaries Ne t incom e (los s ) for the pe riod (2.566) (11.238) Share holde rs ' e quity (2.566) (11.238) (*)Amount refers to valuation reserves of property, plant and equipment.

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