As at 31 December 2014 the Group had exposures in equities not included in the trading book with total balance-sheet value of PLN 9,723,000. The adopted methods of valuation, balance-sheet classification and effect of measurement at fair value for shares quoted on the active market are presented by the table below:
Exposures in equities not included in the trading book; data in PLN thous.
|Balance-sheet classification||Measurement method||Balance-sheet value||Effect of pricing on active quoted market carried in revaluation capital|
|Investment in subordinates||Equity rights||2.762||-|
|Shares and stock available for sale||Fair value; in case of stock and shares not quoted on the active market fair value is assumed to be the value at cost of purchase less any impairment charges.||6.641|
|Shares and stock available for sale||Fair value measured on the basis of active market quotations||320||311|
Exposures in the Group’s equities most significant from the point of view of balance-sheet values, as at 31 December 2014, with assignment of strategic goals, were as follows:
- Polski Standard Płatności sp. z o.o.; balance-sheet value PLN 5 832 000 – the purpose of the equity exposure is to introduce into the Bank’s offering new products and services for the Bank’s customers,
- Lubuskie Fabryki Mebli S.A.; balance-sheet value PLN 2 761 000 - the original purpose of the equity exposure in LFM SA was to generate capital gains.
- Biuro Informacji Kredytowej S.A.; balance-sheet value PLN 400 000 – the equity exposure is connected with the banking activity;
- Krajowa Izba Rozliczeniowa S.A.; balance-sheet value PLN 313 000 - the equity exposure is connected with the banking activity;
- Giełda Papierów Wartościowych SA; balance-sheet value PLN 320 000. – the equity exposure is connected with activity on the capital market.
In the analysed period (2014) the Group:
- did not change accounting principles or methods of pricing for stocks and shares,
- realised profit on sale of shares from the “available for sale” book in the amount of PLN 9 826 000,
- in calculating own funds the positive effect of pricing of shares quoted on the active market from the “available for sale” book, presented in the balance-sheet in revaluation capital (shown in the table above) was not taken into account.