34. Subordinated debt
34a. Subordinated debt
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| 31.12.2016 | 31.12.2015 | |
|---|---|---|
| Currency of the liability | EUR | EUR |
| Value of the liability in foreign currency | 150 000 | 150 000 |
| Value of the liability in PLN | 663 600 | 639 225 |
| Interest rate | 1.784% | 1.959% |
| Maturity | 20.12.2017 | 20.12.2017 |
| Interest | 404 | 406 |
| Balance sheet value of subordinated debt | 664 004 | 639 631 |
34b. Change of subordinated debt
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| 01.01.2016 – 31.12.2016 | 01.01.2015 – 31.12.2015 | |
|---|---|---|
| Balance at the beginning of the period | 639 631 | 639 739 |
| Increases, on account of: | 37 219 | 13 668 |
| – FX rates differences | 24 375 | 0 |
| – interest accrual | 12 844 | 13 668 |
| Reductions, on account of: | (12 846) | (13 776) |
| – interest payment | (12 846) | (13 656) |
| – FX rates differences | 0 | (120) |
| Balance at the end of the period | 664 004 | 639 631 |
During 2016 and 2015 the Group did not have any delays in the payment of principal and interest instalments, nor did it infringe any contractual provisions resulting from its subordinated liabilities.
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35. Shareholders’ Equity